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Cash, Cash Equivalents and Restricted Cash
3 Months Ended
Mar. 31, 2025
Cash, Cash Equivalents and Restricted Cash [Abstract]  
Cash, Cash Equivalents and Restricted Cash

3. Cash, Cash Equivalents and Restricted Cash

Of the total cash, cash equivalents and restricted cash of $170,373 and $181,191 at March 31, 2025 and December 31, 2024, respectively, $156,726 and $155,871 were held at three financial institutions. At March 31, 2025 and December 31, 2024, cash equivalents were approximately $90,896 and $48,336, respectively.

Certain of the Company’s subsidiaries are required to maintain a minimum level of regulatory capital, generally satisfied by cash on hand, which was $35,580 and $39,423 at March 31, 2025 and December 31, 2024, respectively. Of these amounts, $13,499 and $13,403, at March 31, 2025 and December 31, 2024, respectively, was restricted cash, which is required to be maintained in a separate account with withdrawal and usage restrictions in compliance with regulatory obligations.