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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 | ‎ 6. Cash and Cash Equivalents Cash and due from banks, which represents vault cash in the retail offices and invested cash balances at the Federal Reserve, is carried at fair value.
(in thousands) |  | December 31, 2020 |  | December 31, 2019
Cash and due from banks, weighted average interest rate of 0.18% (at December 31, 2020) |  | $ | 146,673 |  | $ | 48,512
Interest bearing deposits in banks, which represent funds invested at a correspondent bank, are carried at fair value and, as of December 31, 2020 and 2019, consisted of daily funds invested at the FHLB of Atlanta, and M&T Bank. In addition, at December 31, 2020, cash was pledged at Raymond James for the interest rate swap.
(in thousands) |  | December 31, 2020 |  | December 31, 2019
FHLB daily investments, interest rate of 0.36% (at December 31, 2020) |  | $ | 759 |  | $ | 467
Raymond James pledged cash, interest rate of 0.09% (at December 31, 2020) |  |  | 2,000 |  |  | 1,000
|  | $ | 2,759 |  | $ | 1,467

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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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