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Cash and Cash Equivalents
9 Months Ended
Sep. 30, 2017
Cash and Cash Equivalents  
CASH AND CASH EQUIVALENTS

5. CASH AND CASH EQUIVALENTS

 

The Bank, as a correspondent of the Federal Reserve Bank, is required to maintain minimum average reserve balances.  The amount of the required reserve balance for the Bank was $66.2 million and $65.1 million at September 30, 2017 and December 31, 2016, respectively.  These amounts are included in interest-bearing deposits in financial institutions.