Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2021

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

7. Cash and Cash Equivalents

Cash and due from banks, which represents vault cash in the retail offices and invested cash balances at the Federal Reserve, is carried at fair value.

(in thousands)	December 31, 2021		December 31, 2020
Cash and due from banks, weighted average interest rate of 0.10% and 0.18% (at December 31, 2021 and 2020)	$	109,823	$	146,673

Interest bearing deposits in banks, which represent funds invested at a correspondent bank, are carried at fair value and, as of December 31, 2021 and 2020, consisted of daily funds invested at the FHLB of Atlanta. In addition, at December 31, 2021, cash was pledged at Raymond James for the interest rate swap.

(in thousands)	December 31, 2021		December 31, 2020
FHLB daily investments, interest rate of 0.01% and 0.36% (at December 31, 2021 and 2020)	$	3,897	$	759
Raymond James pledged cash, interest rate of 0.07% and 0.09% (at December 31, 2021 and 2020)		2,000		2,000
	$	5,897	$	2,759