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Cash and Cash Equivalents | 3 Months Ended
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Mar. 31, 2022
Cash And Cash Equivalents [Abstract] |
Cash and Cash Equivalents | Note 2. Cash and Cash Equivalents The Company is required to maintain cash on hand or on deposit with the Board of Governors of the Federal Reserve System (“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 March 31, 2022, and December 31, 2021. The following table provides a reconciliation of cash and cash equivalents reported within the consolidated statements of condition:
(dollars in thousands) |  | March 31, 2022 |  |  | December 31, 2021 |
Interest-Bearing Deposits in Other Banks |  | $ | 2,488 |  |  | $ | 2,571 |
Funds Sold |  |  | 356,373 |  |  |  | 361,536 |
Cash and Due From Banks |  |  | 236,193 |  |  |  | 196,327 |
Total Cash and Cash Equivalents |  | $ | 595,054 |  |  | $ | 560,434 |

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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 + Details
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