First Resource Bancorp (First Resource Bancorp) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2024)

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What is First Resource Bancorp Long-Term Capital Lease Obligation?

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

First Resource Bancorp Long-Term Capital Lease Obligation Historical Data

The historical data trend for First Resource 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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First Resource Bancorp Long-Term Capital Lease Obligation Chart

First Resource Bancorp Annual Data

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Long-Term Capital Lease Obligation

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First Resource Bancorp Quarterly Data
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Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	-	-

First Resource Bancorp (OTCPK:FRSB) 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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First Resource Bancorp (First Resource Bancorp) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Resource Bancorp Inc (OTCPK:FRSB) » Definitions » Long-Term Capital Lease Obligation

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Address

1 E. Uwchlan Avenue, Suite 410, Exton, PA, USA, 19341

Website

https://www.firstresourcebank.com

First Resource Bancorp Inc is a community bank. It is a full-service bank providing personal and business lending and deposit services. The company serves the southeastern area of Pennsylvania. The bank offers a range of commercial and consumer deposit accounts and regular savings accounts.