Skyline Bankshares (Skyline Bankshares) Long-Term Capital Lease Obligation : $0.00 Mil (As of Dec. 2023)

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What is Skyline Bankshares Long-Term Capital Lease Obligation?

Skyline Bankshares's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.00 Mil.

Skyline Bankshares Long-Term Capital Lease Obligation Historical Data

The historical data trend for Skyline Bankshares's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Skyline Bankshares Long-Term Capital Lease Obligation Chart

Skyline Bankshares Annual Data

Trend

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Long-Term Capital Lease Obligation

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Skyline Bankshares Quarterly Data
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Skyline Bankshares (OTCPK:SLBK) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Skyline Bankshares (Skyline Bankshares) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Skyline Bankshares Inc (OTCPK:SLBK) » Definitions » Long-Term Capital Lease Obligation

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Address

101 Jacksonville Circle, Floyd, VA, USA, 24091

Website

https://www.skylinenationalbank.bank

Skyline Bankshares Inc is a bank holding company. The company's product and service portfolio includes regular savings, demand, NOW, money market deposits, individual retirement accounts, and small denomination certificates of deposit. It also offers a variety of secured loans, including commercial lines of credit, commercial term loans, real estate, construction, home equity, consumer, and other loans.