First Sound Bank WA (First Sound Bank WA) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2023)

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What is First Sound Bank WA Long-Term Capital Lease Obligation?

First Sound Bank WA's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $0.00 Mil.

First Sound Bank WA Long-Term Capital Lease Obligation Historical Data

The historical data trend for First Sound Bank WA'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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First Sound Bank WA Long-Term Capital Lease Obligation Chart

First Sound Bank WA Annual Data

Trend

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Long-Term Capital Lease Obligation

First Sound Bank WA Quarterly Data
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First Sound Bank WA (OTCPK:FSWA) 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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First Sound Bank WA (First Sound Bank WA) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Sound Bank WA (OTCPK:FSWA) » Definitions » Long-Term Capital Lease Obligation

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Address

925 Fourth Avenue, Suite 2350, Seattle, WA, USA, 98104

Website

https://www.firstsoundbank.com

First Sound Bank WA is a commercial bank. It provides loan and deposit services to customers who are predominately small and midsized businesses, not-for-profit organizations, entrepreneurs, and professional service firms. The Bank provides small commercial equipment financing agreements (EFA) to businesses that are located throughout the United States. Additionally, the group also provides business banking, equipment financing, personal banking, and online banking services.