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Note 2 - Cash, Cash Equivalents and Restricted Cash
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Cash and Cash Equivalents Disclosure [Text Block]

2.         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, for the purpose of reporting cash flows, consist of cash and due from banks, short-term investments, and interest-bearing deposits. Cash and due from banks include cash on hand, cash items in transit, cash due from the Federal Reserve Bank of San Francisco (“FRBSF”) and other financial institutions. Short-term investments and interest-bearing deposits include cash placed with other banks with original maturity of three months or less.

 

The Company had average excess balance with FRBSF of $1.05 billion and $1.09 billion for the years ended  December 31, 2024, and 2023, respectively. As of  December 31, 2024, and 2023, the Company had $43.4 million and $53.8 million, respectively, as cash margin that serves as collateral on deposit in a cash margin account for interest rate swaps.  Of the balances held in the cash margin account $8.6 million are restricted as of  December 31, 2024, and 2023.  As of  December 31, 2024, and December 31, 2023, the Company held $0.3 million and $6.4 million, respectively, in a restricted escrow account with a major bank for its alternative energy investments.