Provident Bancorp (Provident Bancorp) Long-Term Capital Lease Obligation : $4.17 Mil (As of Dec. 2023)

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What is Provident Bancorp Long-Term Capital Lease Obligation?

Provident Bancorp's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $4.17 Mil.

Provident Bancorp's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($4.23 Mil) to Sep. 2023 ($4.20 Mil) and declined from Sep. 2023 ($4.20 Mil) to Dec. 2023 ($4.17 Mil).

Provident Bancorp's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($4.39 Mil) to Dec. 2022 ($4.28 Mil) and declined from Dec. 2022 ($4.28 Mil) to Dec. 2023 ($4.17 Mil).

Provident Bancorp Long-Term Capital Lease Obligation Historical Data

The historical data trend for Provident Bancorp'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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Provident Bancorp Long-Term Capital Lease Obligation Chart

Provident Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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3.88

4.49

4.39

4.28

4.17

Provident Bancorp 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															4.28	4.26	4.23	4.20	4.17

Provident Bancorp (NAS:PVBC) 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.

Provident Bancorp Long-Term Capital Lease Obligation Related Terms

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Provident Bancorp (Provident Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Provident Bancorp Inc (NAS:PVBC) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

5 Market Street, Amesbury, MA, USA, 01913

Website

https://www.bankprov.com

Provident Bancorp Inc provides a range of banking products and services to small and medium-sized commercial customers. It attracts deposits from the general public and uses those funds to originate loans, commercial real estate, construction and land, and commercial business loans, and to invest in securities. The company lending activities include providing commercial real estate loans, multi-family residential real estate loans, commercial business loans, construction and land development loans, one-to four-family residential loans, home equity loans & lines of credit, and consumer loans.

Executives

Joseph Stilwell	10 percent owner	111 BROADWAY, 12TH FLOOR, NEW YORK NY 10006
Stilwell Activist Investments, L.p.	10 percent owner	111 BROADWAY, 12TH FLOOR, NEW YORK NY 10006
Stilwell Activist Fund, L.p.	10 percent owner	111 BROADWAY, 12TH FLOOR, NEW YORK NY 10006
Stilwell Value Llc	10 percent owner	111 BROADWAY, 12TH FLOOR, NEW YORK NY 10006
Stilwell Partners L P	10 percent owner	111 BROADWAY, 12TH FL., NEW YORK NY 10006
Kathleen Chase Curran	director	5 MARKET STREET, AMESBURY MA 01913
Carol L Houle	officer: Co-President, Co-CEO and CFO	5 MARKET STREET, AMESBURY MA 01913
Barbara Piette	director	5 MARKET STREET, AMESBURY MA 01913
Laurie H Knapp	director	5 MARKET STREET, AMESBURY MA 01913
Joseph Mancini	officer: Chief Operating Officer	5 MARKET STREET, AMESBURY MA 01913
Mohammad Shaikh	director	5 MARKET STREET, AMESBURY MA 01913
Cousins Frank G Jr	director	5 MARKET STREET, AMESBURY MA 01913
James A Deleo	director	5 MARKET STREET, AMESBURY MA 01913
Jay E Gould	director	5 MARKET STREET, AMESBURY MA 01913
Lisa Destefano	director	5 MARKET STREET, AMESBURY MA 01913