Cash and Cash Equivalents

9 Months Ended

Sep. 30, 2022

Cash And Cash Equivalents [Abstract]

Cash and Cash Equivalents

Note 2.  Cash and Cash Equivalents

The Company is normally required to maintain cash on hand or on deposit with the Board of Governors of the Federal Reserve System (“FRB”) based on the amount of certain customer deposits, mainly checking accounts, however, the FRB lowered the reserve requirement ratios on transaction accounts to zero percent effective March 26, 2020; therefore, there was no required reserve as of September 30, 2022.

The following table provides a reconciliation of cash and cash equivalents reported within the consolidated statement of condition:

(dollars in thousands)	September 30, 2022
Interest-Bearing Deposits in Other Banks	$	5,429
Funds Sold		402,714
Cash and Due From Banks		247,506
Total Cash and Cash Equivalents	$	655,649