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Restrictions on Cash and Cash Equivalents
 12 Months Ended
Dec. 31, 2023
Cash and Cash Equivalents [Abstract]  
Restrictions on Cash and Cash Equivalents Restrictions on Cash and Cash Equivalents
The nature of the Company's business requires that it maintain amounts due from correspondent banks which, at times, may exceed federally insured limits. The balances in these accounts at December 31, were as follows:
 20232022
(Dollars in thousands)
Noninterest bearing accounts $552 $691 
Federal Reserve Bank of Boston73,191 33,336 
FHLB of Boston201 187 
No losses have been experienced in these accounts and the Company believes it is not exposed to any significant risk with respect to the accounts.
The Company had no reserve requirement and was not required to maintain contracted clearing balances at December 31, 2023 or 2022. Balances at the Federal Reserve Bank of Boston and a portion of the funds at the FHLB are classified as overnight deposits as they earn interest.