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Cash, Cash Equivalents and Restricted Cash
9 Months Ended
Sep. 30, 2024
Cash, Cash Equivalents and Restricted Cash [Abstract]  
Cash, Cash Equivalents and Restricted Cash

3. Cash, Cash Equivalents and Restricted Cash

Of the total cash, cash equivalents and restricted cash of $176,483 and $129,305 at September 30, 2024 and December 31, 2023, respectively, $148,707 and $116,895 were held at three financial institutions. At September 30, 2024 and December 31, 2023, cash equivalents were approximately $58,371 and $50,226, respectively.

Certain of the Company’s subsidiaries are required to maintain a minimum level of regulatory capital, generally satisfied by cash on hand, which was $35,120 and $29,156 at September 30, 2024 and December 31, 2023, respectively. Of these amounts, $13,576 and $0, at September 30, 2024 and December 31, 2023, respectively, was restricted cash, which is required to be maintained in a separate account with withdrawal and usage restrictions in compliance with regulatory obligations.