Mercantile Bank (Mercantile Bank) Long-Term Capital Lease Obligation : $0.0 Mil (As of Mar. 2024)

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What is Mercantile Bank Long-Term Capital Lease Obligation?

Mercantile Bank's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.0 Mil.

Mercantile Bank Long-Term Capital Lease Obligation Historical Data

The historical data trend for Mercantile Bank'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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Mercantile Bank Long-Term Capital Lease Obligation Chart

Mercantile Bank Annual Data

Trend

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Long-Term Capital Lease Obligation

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Mercantile Bank Quarterly Data
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Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	-	-

Mercantile Bank (NAS:MBWM) 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.

Mercantile Bank Long-Term Capital Lease Obligation Related Terms

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Mercantile Bank (Mercantile Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Mercantile Bank Corp (NAS:MBWM) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

MCS:Germany

Address

310 Leonard Street NW, Grand Rapids, MI, USA, 49504

Website

https://www.mercbank.com

Mercantile Bank Corp operates as a bank holding company. The bank provides a variety of commercial banking services to individuals, businesses, governmental units, and other institutions. It provides banking services offering deposit products including checking, savings, and term certificate accounts, and lending products including commercial, residential mortgage, and installment loans. The company generates revenue from interest and dividends earned on loans, securities, and other financial instruments.

Executives

Amy L Sparks	director	C/O MERCANTILE BANK CORPORATION, 310 LEONARD ST., GRAND RAPIDS MI 49504
Michael H Price	director, officer: President & COO	MERCANTILE BANK CORP, 5650 BYRON CENTER SW, WYOMING MI 49509
David B Ramaker	director	235 E. MAIN STREET, MIDLAND MI 48640
Robert T. Worthington	officer: SENIOR V.P., GENERAL COUNSEL	310 LEONARD ST NW, GRAND RAPIDS MI 49504
Brett Hoover	officer: SVP, Human Resources Director	310 LEONARD STREET NW, GRAND RAPIDS MI 49504
Lonna Wiersma	officer: SVP, Human Resources Director	C/O MERCANTILE BANK CORPORATION, 310 LEONARD ST., GRAND RAPIDS MI 49504
Michael S. Davenport	director	310 LEONARD STREET NW, GRAND RAPIDS MI 49504
Michelle Larabee Eldridge	director	259 E. MICHIGAN AVE., SUITE 105, KALAMAZOO MI 49007
Edward B Grant	director
Thomas R Sullivan	director, officer: CHAIRMAN OF THE BOARD
Edward J Clark	director	C/O AMERICAN SEATING CO, 401 AMERICAN SEATING CENTER N.W., GRAND RAPIDS MI 49504-4499
Raymond E. Reitsma	director	310 LEONARD STREET NW, GRAND RAPIDS MI 49504
Jeff A Gardner	director	C/O FIRSTBANK CORPORATION, 311 WOODWORTH AVENUE, ALMA MI 48801
Samuel G Stone	officer: EXECUTIVE VICE PRESIDENT
Robert B Kaminski	officer: Senior VP & Secretary	C/O MERCANTILE BANK CORP, 5650 BYRON CENTER AVENUE SW, WYOMING MI 49509