SOME (Somerset Trust Holding Co) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2025)

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What is Somerset Trust Holding Co Long-Term Capital Lease Obligation?

Somerset Trust Holding Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2025 was $0.00 Mil.

Somerset Trust Holding Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Somerset Trust Holding Co'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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Somerset Trust Holding Co Long-Term Capital Lease Obligation Chart

Somerset Trust Holding Co Annual Data

Trend

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Long-Term Capital Lease Obligation

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Somerset Trust Holding Co Quarterly Data
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Somerset Trust Holding Co (OTCPK:SOME) 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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Somerset Trust Holding Co Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Somerset Trust Holding Co (OTCPK:SOME) » Definitions » Long-Term Capital Lease Obligation

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Address

151 West Main Street, P.O. Box 777, Somerset, PA, USA, 15501

Website

https://www.somersettrust.com

Somerset Trust Holding Co is an independent community bank that offers a variety of consumer and commercial lending and deposit products, together with trust and investment management services, an extensive ATM network, and online and mobile banking for consumers and businesses. The Company's and the Bank's revenues are derived from their portfolio of residential real estate, commercial mortgage, commercial, and consumer loans. Additional sources consist of an investment portfolio, trust and investment management services, and a variety of deposit services for their customers.