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Note 5 - Cash, Cash Equivalents and Restricted Cash | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Cash and Cash Equivalents Disclosure [Text Block] | 5. Cash, Cash Equivalents and Restricted Cash The Company manages its cash and cash equivalents based upon the Company’s operating, investment, and financing activities. Cash and cash equivalents, including for purposes of reporting cash flows, consist of cash on hand, amounts due from banks, and short-term investments with original maturity of three months or less. The Company is required to maintain reserves with the Federal Reserve Bank. On December 7, 2020, the Federal Reserve Bank announced they were reducing the reserve requirement ratio to zero percent across all deposit tiers as of March 26, 2020. There were zero average reserve balances required as of June 30, 2022 or for the year ended December 31, 2021. The average excess balance with Federal Reserve Bank was $1.4 billion as of June 30, 2022 and $1.6 billion for the year ended December 31, 2021. As of June 30, 2022 and December 31, 2021, the Company had zero and $24.3 million, respectively, on deposit in a cash margin account that serves as collateral for interest rate swaps. These amounts included zero and $5.9 million as of June 30, 2022 and December 31, 2021, respectively, on deposit in a cash margin account that serves as collateral for the Bancorp’s interest rate swaps. As of June 30, 2022 and December 31, 2021, the Company held $34.9 million and $690 thousand, respectively, in a restricted escrow account with a major bank for its alternative energy 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- References No definition available. + Details
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