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Cash Requirement
3 Months Ended
Mar. 31, 2020
Banking and Thrift [Abstract]  
Cash Requirement
Cash Requirement
The Company is required to maintain an average reserve balance with the Federal Reserve Bank or maintain such reserve balance in the form of cash. Effective March 24, 2020 the Federal Reserve lowered the reserve ratios on transaction accounts maintained at a depository institution to zero percent. There was no required reserve balance at March 31, 2020 and a required balance of $17.1 million at December 31, 2019 which was met by holding cash and maintaining an average balance with the Federal Reserve Bank.