South Atlantic Bancshares (South Atlantic Bancshares) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2024)

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What is South Atlantic Bancshares Long-Term Capital Lease Obligation?

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

South Atlantic Bancshares's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($0.00 Mil) to Dec. 2023 ($8.46 Mil) but then declined from Dec. 2023 ($8.46 Mil) to Mar. 2024 ($0.00 Mil).

South Atlantic Bancshares's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($7.78 Mil) to Dec. 2022 ($7.25 Mil) but then increased from Dec. 2022 ($7.25 Mil) to Dec. 2023 ($8.46 Mil).

South Atlantic Bancshares Long-Term Capital Lease Obligation Historical Data

The historical data trend for South Atlantic 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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South Atlantic Bancshares Long-Term Capital Lease Obligation Chart

South Atlantic Bancshares Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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8.20

7.87

7.78

7.25

8.46

South Atlantic 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															-	-	-	8.46	-

South Atlantic Bancshares (OTCPK:SABK) 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.

South Atlantic Bancshares Long-Term Capital Lease Obligation Related Terms

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South Atlantic Bancshares (South Atlantic Bancshares) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » South Atlantic Bancshares Inc (OTCPK:SABK) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

N/A

Address

630 29th Avenue North, Myrtle Beach, SC, USA, 29577

Website

https://www.southatlantic.bank

South Atlantic Bancshares Inc is A United States-based bank holding company. The business activity of the bank is to provide banking services to domestic markets. Its product offering includes Personal and business checking, Savings, and Money market accounts, along with Residential mortgages, Commercial Loans, and Lines of credit. The bank also offers other services like mobile banking application, treasury, remote deposit capture, and merchant card services; telephone and online banking, and ATM services; and debit and credit cards.