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Restrictions on Cash and Due from Bank Accounts | 12 Months Ended
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Dec. 31, 2020
Cash and Cash Equivalents [Abstract] |
RESTRICTIONS ON CASH AND DUE FROM BANK ACCOUNTS | RESTRICTIONS ON CASH AND DUE FROM BANK ACCOUNTSThe Board of Governors of the Federal Reserve System, or the Federal Reserve, imposes certain reserve requirements on all depository institutions. These reserves are maintained in the form of vault cash or as an interest-bearing balance with the Federal Reserve. The required reserves averaged $15.5 million for 2020, $43.9 million for 2019 and $38.8 million for 2018. The decrease in the required reserve average from 2019 to 2020 was due to the Federal Reserve reducing the reserve requirement ratio to zero percent effective on March 26, 2020. The Federal Reserve maintained this reserve requirement ratio for the remainder of 2020.

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- Definition Cash reserve requirement of the Federal Reserve. + References No definition available. + Details
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