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Note 2 - Restrictions on Cash and Due From Banks
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Restrictions on Cash and Due from Banks Disclosure [Text Block]

(2) Restrictions on Cash and Due from Banks

 

At December 31, 2019 and 2018, Bancorp’s interest-bearing cash accounts and non-interest bearing deposits held at other financial institutions exceeded the $250,000 federally insured limits by approximately $89 million and $1 million. Each correspondent bank’s financial performance and market rating are reviewed on a quarterly basis to ensure Bancorp has deposits only at institutions providing minimal risk for those exceeding federally insured limits. Additionally, at December 31, 2019 and 2018, Bancorp had approximately $113 million and $143 million at the FHLB and FRB, which are government-sponsored entities not insured by the FDIC. Bancorp is required to maintain an average reserve balance in cash or with the FRB relating to customer deposits. The amount of those required reserve balances was approximately $11 million and $9 million at December 31, 2019 and 2018, respectively, and is included in FFS and interest bearing due from banks in the consolidated balance sheet.