Cash, Cash Equivalents, and Restricted Cash

6 Months Ended

Jun. 30, 2024

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents, and Restricted Cash

Note 4 — Cash, Cash Equivalents, and Restricted Cash

The Company is required to hold cash for potential future advances due to certain borrowers. In accordance with various mortgage servicing and related agreements, Century maintains escrow accounts for mortgage insurance premium, tax and insurance, working capital, sinking fund and other mortgage related escrows. The total escrow balances payable amounted to $85.0 million and $83.5 million as of June 30, 2024 and 2023, respectively. These amounts are not reflected on the consolidated balance sheet of the Company.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows for the six months ended June 30, 2024 and 2023:

	Six Months Ended June 30,
	2024		2023
	(In thousands)
Cash and cash equivalents	$	47,366	$	33,987
Restricted cash		32,293		16,786
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	79,659	$	50,773