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Restrictions on Cash and Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2021

Cash And Cash Equivalents [Abstract]

Restrictions on Cash and Cash and Cash Equivalents

Note 2.  Restrictions on Cash and Cash and Cash Equivalents

The Company is required to maintain cash on hand or on deposit with the FRB based on the amount of certain customer deposits, mainly checking accounts.  The FRB lowered the reserve requirement ratios on transaction accounts to zero percent effective March 25, 2020, therefore, there were no required reserve balances as of December 31, 2021 and December 31, 2020.

The following table provides a reconciliation of cash and cash equivalents reported within the consolidated statements of condition that sum to the total of the same such amounts shown in the consolidated statements of cash flows:

(dollars in thousands)		December 31, 2021				December 31, 2020
Interest-Bearing Deposits in Other Banks		$	2,571			$	1,646
Funds Sold			361,536				333,022
Cash and Due From Banks			196,327				279,420
Total Cash and Cash Equivalents		$	560,434			$	614,088

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- References

No definition available.

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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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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