Primis Financial (Primis Financial) Long-Term Capital Lease Obligation : $12.3 Mil (As of Sep. 2023)

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What is Primis Financial Long-Term Capital Lease Obligation?

Primis Financial's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $12.3 Mil.

Primis Financial's quarterly Long-Term Capital Lease Obligation increased from Mar. 2023 ($9.8 Mil) to Jun. 2023 ($11.5 Mil) and increased from Jun. 2023 ($11.5 Mil) to Sep. 2023 ($12.3 Mil).

Primis Financial's annual Long-Term Capital Lease Obligation declined from Dec. 2020 ($8.2 Mil) to Dec. 2021 ($6.5 Mil) and declined from Dec. 2021 ($6.5 Mil) to Dec. 2022 ($5.8 Mil).

Primis Financial Long-Term Capital Lease Obligation Historical Data

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

Primis Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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8.47

8.24

6.50

5.77

11.69

Primis Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															5.77	9.80	11.55	12.35	11.69

Primis Financial (NAS:FRST) 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.

Primis Financial Long-Term Capital Lease Obligation Related Terms

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Primis Financial (Primis Financial) Business Description

Industry

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

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Traded in Other Exchanges

7H80:Germany

Address

6830 Old Dominion Drive, McLean, VA, USA, 22101

Website

https://www.primisbank.com

Primis Financial Corp is the bank holding company for Primis Bank, providing financial services to individuals and small and medium-sized businesses. Primis Bank offers a wide range of commercial banking services, it focuses on making loans secured majorly by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses in a number of industries, as well as loans to individuals for a variety of purposes. Primis Bank offers a broad range of deposit products, including checking (NOW), savings, money market accounts and certificates of deposit.

Executives

Rickey Allen Fulk	officer: EVP, President	1194 ELSOM MASCOT ROAD, MATTAPONI VA 23110
Charles A Kabbash	director	308 EAST MARKET ST., CHARLOTTESVILLE VA 22902
Clinton Tyler Stafford	officer: Pres Panacea Financial	4612 CLUB ROAD, LITTLE ROCK AR 72207
Susan B Williamson	officer: EVP, Director of Reg Relations	32482 JENKINS MILL ROAD, FRANKLIN VA 23851
William Rand Cook	director	4459 CROWN HILL ROAD, MECHANICSVILLE VA 23111
Robert Yates Clagett	director	17017 RIVER AIRPORT ROAD, BRANDYWINE MD 20613
Eric Alan Johnson	director	P O BOX 517, URBANNA VA 23175
Matthew Alan Switzer	officer: EVP, CFO	6830 OLD DOMINION DRIVE, MCLEAN VA 22101
Jones Allen R Jr.	director	304 MARCELLA ROAD, SUITE E, HAMPTON VA 23666
Garrett F L Iii	director	268 CATHCHPENNY LANE, BOWLERS WHARF VA 22560
John Fitzgerald Biagas	director	627 36TH STREET, NEWPORT NEWS VA 23607
Ann-stanton C Gore	officer: EVP, Chief Marketing Officer	1700 WOODLAKE DRIVE, COLUMBIA SC 29206
Barry P Almond	officer: EVP, Head of Retail/Marketing	14319 NICOLAY WAY, MIDLOTHIAN VA 23114
Deborah Diaz	director	6830 OLD DOMINION DRIVE, MCLEAN VA 22101
Julia E Fredricks	officer: EVP, Chief Risk Officer	11032 SLENDERLEAF DRIVE, GLEN ALLEN VA 23060