Town Center Bank IL (Town Center Bank IL) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2024)

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What is Town Center Bank IL Long-Term Capital Lease Obligation?

Town Center Bank IL's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.00 Mil.

Town Center Bank IL's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($0.49 Mil) to Dec. 2022 ($0.32 Mil) and declined from Dec. 2022 ($0.32 Mil) to Dec. 2023 ($0.00 Mil).

Town Center Bank IL Long-Term Capital Lease Obligation Historical Data

The historical data trend for Town Center Bank IL'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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Town Center Bank IL Long-Term Capital Lease Obligation Chart

Town Center Bank IL Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.24

0.25

0.49

0.32

Town Center Bank IL Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Dec22	Mar23	Jun23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.32	-	-	-	-

Town Center Bank IL (OTCPK:TCNB) 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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Town Center Bank IL (Town Center Bank IL) Business Description

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Address

1938 E. Lincoln Highway, Unit 201, New Lenox, IL, USA, 60451

Website

https://www.towncenterbank.com

Town Center Bank IL provides banking products and services to families, businesses, and organizations in Illinois. Its primary deposit products are checking, savings, and term certificate accounts and its primary lending products are residential mortgages, commercial, commercial real estate, construction, land development, and consumer loans. Other financial instruments offered by the bank include loan commitments, credit lines, letters of credit, and overdraft protection.

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