Prime Meridian Holding Co (Prime Meridian Holding Co) Long-Term Capital Lease Obligation : $2.96 Mil (As of Mar. 2024)

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What is Prime Meridian Holding Co Long-Term Capital Lease Obligation?

Prime Meridian Holding Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $2.96 Mil.

Prime Meridian Holding Co's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($3.06 Mil) to Dec. 2023 ($3.01 Mil) and declined from Dec. 2023 ($3.01 Mil) to Mar. 2024 ($2.96 Mil).

Prime Meridian Holding Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($3.40 Mil) to Dec. 2022 ($3.21 Mil) and declined from Dec. 2022 ($3.21 Mil) to Dec. 2023 ($3.01 Mil).

Prime Meridian Holding Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Prime Meridian Holding Co'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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Prime Meridian Holding Co Long-Term Capital Lease Obligation Chart

Prime Meridian Holding Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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3.76

3.58

3.40

3.21

3.01

Prime Meridian Holding Co 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															3.16	3.11	3.06	3.01	2.96

Prime Meridian Holding Co (OTCPK:PMHG) 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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Prime Meridian Holding Co (Prime Meridian Holding Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Prime Meridian Holding Co (OTCPK:PMHG) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

1471 Timberlane Road, Tallahassee, FL, USA, 32312

Website

https://www.primemeridianbank.com

Prime Meridian Holding Co is a bank holding company. Its services portfolio includes mobile banking, mobile deposit, Apple Pay, Bank-to-Bank transfers, online banking, demand interest-bearing, and non-interest-bearing accounts, and savings accounts, among others. It also offers commercial real estate loans, residential and home equity loans, construction loans, commercial loans, and consumer and other loans. The majority of revenues are derived from interest income and fees on loans, interest, and dividends from investment securities, and service charge income generated from demand accounts, ATM fees, and other services.