Pacific Financial (Pacific Financial) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2024)

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What is Pacific Financial Long-Term Capital Lease Obligation?

Pacific Financial's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.00 Mil.

Pacific Financial's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($0.00 Mil) to Dec. 2023 ($2.57 Mil) but then declined from Dec. 2023 ($2.57 Mil) to Mar. 2024 ($0.00 Mil).

Pacific Financial's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($1.48 Mil) to Dec. 2022 ($1.15 Mil) but then increased from Dec. 2022 ($1.15 Mil) to Dec. 2023 ($2.57 Mil).

Pacific Financial Long-Term Capital Lease Obligation Historical Data

The historical data trend for Pacific Financial'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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Pacific Financial Long-Term Capital Lease Obligation Chart

Pacific Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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1.30

1.95

1.48

1.15

2.57

Pacific Financial 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															-	-	-	2.57	-

Pacific Financial (OTCPK:PFLC) 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.

Pacific Financial Long-Term Capital Lease Obligation Related Terms

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Pacific Financial (Pacific Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Pacific Financial Corp (OTCPK:PFLC) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

1216 Skyview Drive, Aberdeen, WA, USA, 98520

Website

https://www.bankofthepacific.com

Pacific Financial Corp is active in the financial services domain as a bank holding company of the Bank of the Pacific, based in the United States. Its business also includes loan production and real estate mortgage provision. Its commercial banking division caters through services such as business checking, business savings and certificates of deposits, business loans, treasury management and commercial real estate loans, while its personal banking services comprise of checking solutions, savings solutions, consumer loans and lines of credit.

Executives

Kristi Gundersen	director	PO BOX 1826, ABERDEEN WA 98520
Daniel J. Tupper	director	PO BOX 1826, ABERDEEN WA 98520
Loretta B Reece	director	PO BOX 1826, ABERDEEN WA 98520
Douglas N Biddle	officer: CFO	1101 S. BOONE STREET, ABERDEEN WA 98520-5244
Randy Rust	director	300 E MARKET STREET, ABERDEEN WA 98520-5244
Dwayne Carter	director	1101 S BOONE STREET, ABERDEEN WA 98520
Denise Portmann	officer: VP & CASHIER
Douglas M Schermer	director
Dennis A Long	director, officer: President
Randy W Rognlin	director
Edward Ketel	director
Philippe S Swaab	officer: Vice President	1101 S BOONE STREET, ABERDEEN WA 98520
Duane E Hagstrom	director
Dijk John Van	officer: Secretary
Susan C Freese	director