Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

3. Cash and Cash Equivalents

Of the total cash and cash equivalents of $83,735 and $132,101 at June 30, 2023 and December 31, 2022, $82,683 and $131,104, respectively, were held at two financial institutions. At June 30, 2023 and December 31, 2022, cash equivalents were approximately $195 and $930, respectively.

Certain of the Company’s subsidiaries are required to maintain a minimum level of regulatory capital, which was $24,912 and $25,988 at June 30, 2023 and December 31, 2022, respectively. These requirements are generally satisfied by cash on hand.