Morris State Bancshares (Morris State Bancshares) Long-Term Capital Lease Obligation : $1.04 Mil (As of Mar. 2024)

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What is Morris State Bancshares Long-Term Capital Lease Obligation?

Morris State Bancshares's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $1.04 Mil.

Morris State Bancshares's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($1.22 Mil) to Dec. 2023 ($1.13 Mil) and declined from Dec. 2023 ($1.13 Mil) to Mar. 2024 ($1.04 Mil).

Morris State Bancshares's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($1.24 Mil) to Dec. 2022 ($1.53 Mil) but then declined from Dec. 2022 ($1.53 Mil) to Dec. 2023 ($1.13 Mil).

Morris State Bancshares Long-Term Capital Lease Obligation Historical Data

The historical data trend for Morris State 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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Morris State Bancshares Long-Term Capital Lease Obligation Chart

Morris State Bancshares Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.52

0.64

1.24

1.53

1.13

Morris State Bancshares Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															1.43	1.33	1.22	1.13	1.04

Morris State Bancshares (OTCPK:MBLU) 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.

Morris State Bancshares Long-Term Capital Lease Obligation Related Terms

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Morris State Bancshares (Morris State Bancshares) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

N/A

Address

1300 Bellevue Avenue, Dublin, GA, USA, 31021

Website

https://www.morris.bank

Morris State Bancshares Inc operates as a bank. It provides a variety of financial services to individuals and small businesses through its offices in middle Georgia. The Bank offers a full range of commercial and personal loan products. It makes loans to individuals for purposes such as home mortgage financing, personal vehicles and various consumer purchases, and other personal and family needs. Commercial loans are offered to businesses for purposes such as providing equipment and machinery purchases, commercial real estate purchases, and working capital. The Bank also provides a full range of deposit services that are typically available from financial institutions, including NOW accounts, demand, savings, and other time deposits.

Morris State Bancshares (Morris State Bancshares) Headlines

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