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Note 3 - Cash and Cash Equivalents | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Cash and Cash Equivalents Disclosure [Text Block] |
3 . | Cash and Cash Equivalents
The Company manages its cash and cash equivalents, which consist of cash on hand, amounts due from banks, federal funds sold, and short-term investments with original maturity of three months or less, based upon the Company’s operating, investment, and financing activities. For the purpose of reporting cash flows, these same accounts are included in cash and cash equivalents. The Company is required to maintain reserves with the Federal Reserve Bank. Reserve requirements are based on a percentage of deposit liabilities. The average reserve balances required were $5.4 million for 2018 and $7.5 million for 2017. The average excess balance with Federal Reserve Bank was $258.6 million in 2018 and $359.5 million in 2017. At December 31, 2018, the Bancorp had $1.8 million on deposit in a cash margin account that serves as collateral for the Bancorp’s interest rate swaps. In the consolidated statement of cash flows, the amounts for the year ended December 31, 2017 have been corrected in the current year and differ from the previously reported amounts of $796.3 million for decrease/(increase) in short-term investment and interest bearing deposits, $118.4 million for acquisitions, net of cash acquired, $224.7 million for net cash used by investing activities, $29.0 million increase in cash and cash equivalents, $218.0 million for cash and cash equivalents, beginning of period and $247.1 million for cash and cash equivalents, end of period. The amounts for the year ended December 31, 2016 have been corrected in the current year and differ from the previously reported amounts of $430.2 million for decrease/(increase) in short-term investment and interest bearing deposits, $1.3 billion for net cash used by investing activities, $37.9 million for increase in cash and cash equivalents, $180.1 million for cash and cash equivalents, beginning of period and $218.0 million for cash and cash equivalents, end of period. In footnote 2, the amounts for the year ended December 31, 2017 have been corrected in the current year and differ from the previously reported amounts of $166.9 million for cash and cash equivalents and $122.0 million for short term investments.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 305 -URI http://asc.fasb.org/topic&trid=2122426 + Details
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