Southpoint Bancshares (Southpoint Bancshares) Long-Term Capital Lease Obligation : $0.00 Mil (As of . 20)

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What is Southpoint Bancshares Long-Term Capital Lease Obligation?

Southpoint Bancshares's Long-Term Capital Lease Obligation for the quarter that ended in . 20 was $0.00 Mil.

Southpoint Bancshares Long-Term Capital Lease Obligation Historical Data

The historical data trend for Southpoint Bancshares'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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Southpoint Bancshares Long-Term Capital Lease Obligation Chart

Southpoint Bancshares Annual Data

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Long-Term Capital Lease Obligation

Southpoint Bancshares Semi-Annual Data

Long-Term Capital Lease Obligation

Southpoint Bancshares (OTCPK:SOUB) 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.

Southpoint Bancshares Long-Term Capital Lease Obligation Related Terms

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Southpoint Bancshares (Southpoint Bancshares) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Southpoint Bancshares Inc (OTCPK:SOUB) » Definitions » Long-Term Capital Lease Obligation

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Address

3501 Grandview Parkway, Birmingham, AL, USA, 35243

Website

https://www.southpoint.bank

SouthPoint Bancshares Inc operates in the domestic commercial banking industry. The Bank provides full-service banking to customers located in central Alabama. The Bank operates from its ten branch locations in central Alabama, and five loan production offices located throughout the State of Alabama. SPB Properties, LLC holds certain assets of the Bank and is a wholly-owned subsidiary of the Bank.

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