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Cash and Cash Equivalents | 12 Months Ended
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Dec. 31, 2020
Cash and Cash Equivalents [Abstract] |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS (Dollars In Thousands)
| 2020 |  | 2019
Balances at December 31: |  |  |
Cash and Due From Banks | $ | 42,116 |  |  | $ | 47,035 |
Interest-Bearing Deposits at Banks | 338,875 |  |  | 23,186 |
Total Cash and Cash Equivalents | $ | 380,991 |  |  | $ | 70,221 |
Supplemental Information: |  |  |
Total required reserves, including vault cash and Federal Reserve Bank deposits | $ | — |  |  | $ | 35,985 |
Restricted cash pledged as collateral related to swap agreements and included in Cash and Due From Banks | $ | 500 |  |  | $ | — |
During 2019 and until March 2020, the Company was required to maintain reserve balances with the Federal Reserve Bank of New York. The required reserve was calculated on a fourteen day average and the amount presented in the table above represents the average for the period that includes December 31, 2019. In March 2020, the Federal Reserve Board reduced reserve requirement ratios to zero percent to free up liquidity in the banking industry to support lending to households and businesses.

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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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