Cash and Cash Equivalents

9 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

5. Cash and cash equivalents

At September 30, 2023 and December 31, 2022, cash and cash equivalents totaled $25.4 million and $30.7 million, respectively. There were no amounts required to be maintained at the Federal Reserve Bank of Boston at September 30, 2023 and December 31, 2022. At September 30, 2023 and December 31, 2022, the Company pledged $500,000 to the New Hampshire Banking Department relating to Cambridge Trust Company of New Hampshire, Inc.’s operations in that state. The Company did not have any cash pledged as collateral to derivative counterparties at September 30, 2023, or December 31, 2022. See Note 16 - Derivative and Hedging Activities for a discussion of the Company’s derivative and hedging activities.