Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2019

Cash And Cash Equivalents [Abstract]

Cash and Cash Equivalents

6. Cash and cash equivalents

At June 30, 2019 and December 31, 2018, cash and cash equivalents totaled $38.6 million and $18.5 million, respectively. Of this amount, $26.9 million and $12.7 million, respectively, were maintained to satisfy the reserve requirements of the Federal Reserve Bank of Boston (“FRB Boston”). Additionally, at June 30, 2019 and December 31, 2018, 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.