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Cash Equivalents
12 Months Ended
Dec. 31, 2024
Cash and Cash Equivalents [Abstract]  
Cash Equivalents Cash Equivalents
The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2024 and 2023, cash equivalents consisted primarily of money market accounts with brokers and certificates of deposit.
The Federal Reserve Act requires that the banks maintain cash reserve balances with the Federal Reserve Bank based principally on the type and amount of their deposits. At its option, the Company maintains additional balances to compensate for clearing and safekeeping services. At December 31, 2024, the Company’s cash accounts exceeded federally insured limits by approximately $248.7 million. Approximately $195.5 million of this amount was held by either the Federal Reserve Bank or the Federal Home Loan Bank of Indianapolis, which is not federally insured.