the full impact of covid-19 remains uncertain . despite these unprecedented health and economic challenges , the company remains acutely focused on the execution of our strategic plan that began in 2017 , with the conversion of a mutual to a stock bank . we intend to operate as a well-capitalized and profitable community bank dedicated to providing exceptional personal service to our consumer and business customers . we believe that we have a competitive advantage in the markets we serve because of our knowledge of the local marketplace and our long-standing history of providing superior , relationship-based customer service . our core business strategies are to : continue to originate and sell certain residential real estate loans . residential mortgage lending has historically been a significant part of our business , and we recognize that originating one- to four-family residential real estate loans is essential to our status as a community-oriented bank . during the year ended december 31 , 2020 , we originated $ 618.1 million in one- to four-family residential real estate loans held for sale , selling $ 600.8 million 41 in one- to four-family residential real estate loans held for sale for gains on sale of $ 13.3 million . during the six month transition period ended december 31 , 201 9 , we originated $ 16 7.1 million in one- to four-family residential real estate loans held for sale , selling $ 16 6.7 million in one- to four-family residential real estate loans held for sale for gains on sale of $ 3.6 million . during the year ended june 30 , 2019 , we originated $ 159.8 million in one- to four-family residential real estate loans held for sale , selling $ 140.1 million in one- to four-family residential real estate loans held for sale for gains on sale of $ 2.8 million we intend to continue to sell in the secondary market most of the long-term conforming fixed-rate one- to four-family residential real estate loans that we originate to increase non-interest income and manage the overall duration of our loan portfolio . we also intend to hold an appropriately sized portfolio of jumbo adjustable-rate one- to four-family residential real estate loans in order to increase interest income and help manage ou r interest rate risk . at december 31 , 20 20 , we had $ 73.8 million in jumbo one- to four-family residential real estate loans , which represented 52.0 % of our one- to four-family residential real estate loan portfolio compared to $ 125.5 million or 63.3 % of our one- to four-family residential real estat e loan portfolio at december 31 , 2019 . increase commercial real estate and commercial business . in 2019 , we established a new business banking division which will greatly expand the bank 's commercial real estate and commercial business portfolios . the inclusion of commercial real estate and commercial business loans may increase the yield on the loan portfolio and should help reduce interest rate risk while maintaining what we believe are conservative underwriting standards . maintain high asset quality . strong asset quality is critical to the long-term financial success of a community bank . we attribute our high asset quality to maintaining conservative underwriting standards , the diligence of our loan servicing personnel and the stability of the local economy . at december 31 , 2020 , our non-performing assets to total assets ratio was 0.71 % . because a substantial amount of our loans are secured by real estate , the level of our non-performing loans has been low in recent years as well as we adhere to a credit culture that is supported by strong underwriting standards , we believe that our allowance for loan losses is adequate to absorb the probable losses inherent in our loan portfolio . maintain level of core deposits . we plan to continue to market our transaction and savings accounts , emphasizing our high-quality , personalized customer service coupled with customer-facing technologies . we also offer the convenience of technology-based products , such as remote deposit capture , internet banking , mobile banking and mobile capture . our ratio of core ( non-time ) deposits to total deposits was 91.5 % at december 31 , 2020. critical accounting policies the discussion and analysis of the financial condition and results of operations are based on our financial statements , which are prepared in conformity with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities , disclosure of contingent assets and liabilities , and the reported amounts of income and expenses . we consider the accounting policies discussed below to be critical accounting policies . the estimates and assumptions that we use are based on historical experience and various other factors and are believed to be reasonable under the circumstances . actual results may differ from these estimates under different assumptions or conditions , resulting in a change that could have a material impact on the carrying value of our assets and liabilities and our results of operations . on april 5 , 2015 , the jobs act was signed into law . the jobs act contains provisions that , among other things , reduce certain reporting requirements for qualifying public companies . as an “ emerging growth company ” we may delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies . we intend to take advantage of the benefits of this extended transition period . accordingly , our financial statements may not be comparable to companies that comply with such new or revised accounting standards . the following represents our critical accounting policies : allowance for loan losses . story_separator_special_tag capital strength at december 31 , 2020 , the bank 's exceeded all regulatory capital requirements and was considered “ well capitalized ” under regulatory guidelines . total risk-based capital ( to risk-weighted assets ) was 13.4 % , tier 1 capital ( to risk-weighted assets ) was 12.7 % , tier 1 capital ( to average assets ) was 7.4 % , and tier 1 common equity ( to risk-weighted assets ) was 12.7 % . see footnote 10 regulatory capital for more information . deferral requests the company has worked with the customers impacted by covid-19 to provide short-term assistance up to nine months in accordance with regulatory guidelines . commercial borrowers requesting assistance have been offered either a 90-day principal and interest deferral or a 90-day interest only with a potential deferral of up to two additional months . these deferrals do not constitute troubled debt restructurings ( “ tdrs ” ) because they met the requirements under section 4013 of the cares act . under section 4013 of the cares act , loans less than 30 days past due as of december 31 , 2019 , will be considered current for covid-19 modifications . a financial institution can then use fasb agreed upon temporary changes to gaap for loan modifications related to covid-19 that would otherwise be categorized as a tdr , and suspend any determination of a loan modified as a result of covid-19 being a tdr , including the requirement to determine impairment for accounting purposes . similarly , fasb has confirmed that short-term modifications made on a good-faith basis in response to covid-19 to loan customers who were current prior to any relief are not tdrs . residential borrowers needing assistance have been offered a 90-day principal and interest deferral with a potential additional 90-day deferral . as of december 31 , 2020 , the company had two residential one-to-four family loan deferral requests and one commercial 45 real estate loan deferral request totaling $ 1 . 8 million in o utstanding loans compared to 4 residential one-to-four family loan deferral requests , representing $ 1.8 million in total o utstanding loans as of september 30 , 2020 and 73 deferral requests processed with an outstanding balance of $ 29.0 million as of june 30 , 2020. loan portfolio analysis certain industries such as those included in the company 's commercial lending portfolio are anticipated to suffer greater economic impact as a result of the covid-19 pandemic . the following table provides the outstanding exposure in regard to the company 's commercial loan portfolio by type as of december 31 , 2020. replace_table_token_20_th the extent of the impact of the covid-19 pandemic to the company 's loan portfolio is uncertain and can not be predicted as it will depend on certain developments including the duration of the pandemic and its impact on the local and national economy as a whole and the response thereto . comparison of financial condition at december 31 , 2020 and december 31 , 2019 total assets total assets increased $ 507.0 million , or 143.0 % , to $ 861.6 million at december 31 , 2020 from $ 354.6 million at december 31 , 2019. the increase was primarily the result of increases of $ 394.0 million in cash and cash equivalents , $ 58.8 million in loans receivable , $ 45.6 million in loans held for sale , $ 2.0 million in mortgage servicing rights , $ 1.7 million in mortgage banking derivatives and $ 1.7 million in right-of-use asset . story_separator_special_tag style= `` margin-top:6pt ; margin-bottom:0pt ; text-indent:4.54 % ; font-family : times new roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > total interest income increased $ 2.0 million , or 16.9 % , to $ 13.8 million for the year ended december 31 , 2020 from $ 11.8 million for the year ended december 31 , 2019. the increase was primarily the result of a $ 2.6 million increase in interest and fees on loans partially offset by a $ 373,000 decrease in interest on investment securities and a $ 249,000 decrease in interest-earning deposits with 48 banks . the average balance of our interest-earning assets increased by $ 96.3 million to $ 414.9 million for the year ended december 31 , 20 20 as compared to $ 3 18.6 million for the year ended december 31 , 201 9 . the increase was primarily a result of increases in the average balance of loans of $ 86.3 million and $ 24.2 million in interest on interest-earning deposits parti ally off-set by a decrease of $ 14.7 million in the average balance of investment securities . the average yield on our interest-earning assets de creased 39 basis points to 3 . 33 % for the year ended december 31 , 20 20 as compared to 3 . 72 % for the year ended december 31 , 201 9 primarily as a result of a lower average yield on cash and cash equivalents and investment securities as short term rates declined . interest and fees on loans increased $ 2.6 million , or 24.8 % , to $ 13.1 million for the year ended december 31 , 2020 from $ 10.5 million for the year ended december 31 , 2019. this increase resulted primarily from an $ 86.3 million increase in the average balance of loans to $ 350.5 million for the year ended december 31 , 2020 from $ 264.2 million for the year ended december 31 , 2019. the average yield on loans increased 24 basis points to 3.73 % for the year ended december 31 , 2020 from 3.97 % for the year ended december 31 , 2019. interest and dividends on investments , mortgage-backed securities and collateralized mortgage obligations decreased $ 373,000 , or 43.6 % , to $ 482,000 for the year ended december 31 , 2020

cash and cash equivalents cash and cash equivalents increased $ 394.0 million to $ 414.6 million at december 31 , 2020 from $ 20.6 million at december 31 , 2019 . in december 2020 , the company experienced an increase in cash as a result of an increase in retail deposits from certain accounts which it anticipates to be temporary and that a significant portion will be dispersed during the first quarter of 2021. in addition , growth in cash and cash equivalents was due to growth in public fund deposits and proceeds from use of the ppplf facility . we anticipate that excess liquidity will be used to fund growth of the loan portfolio . investment securities investment securities increased by $ 2.3 million , or 10.8 % to $ 23.5 million at december 31 , 2020 from $ 21.2 million at december 31 , 2019. the increase was primarily due to purchases of $ 14.8 million and an increase of $ 363,000 in unrealized gains on securities available-for-sale partially offset by sales and principal repayments of $ 12.9 million . net loans net loans increased $ 58.8 million , or 23.1 % to $ 313.8 million at december 31 , 2020 from $ 255.0 million at december 31 , 2019. in april 2020 , the company begin participating in the ppp program and processed over 450 applications with an outstanding balance of $ 64.4 million as of december 31 , 2020. commercial real estate loans increased by $ 33.5 million to $ 68.7 million at december 31 , 2020 , from $ 35.2 million at december 31 , 2019 , primarily as a result of originations from the business banking division , whose continued focus 46 is growth of the commercial lending and commercial business loan portfolios .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash and cash equivalents cash and cash equivalents increased $ 394.0 million to $ 414.6 million at december 31 , 2020 from $ 20.6 million at december 31 , 2019 . in december 2020 , the company experienced an increase in cash as a result of an increase in retail deposits from certain accounts which it anticipates to be temporary and that a significant portion will be dispersed during the first quarter of 2021. in addition , growth in cash and cash equivalents was due to growth in public fund deposits and proceeds from use of the ppplf facility . we anticipate that excess liquidity will be used to fund growth of the loan portfolio . investment securities investment securities increased by $ 2.3 million , or 10.8 % to $ 23.5 million at december 31 , 2020 from $ 21.2 million at december 31 , 2019. the increase was primarily due to purchases of $ 14.8 million and an increase of $ 363,000 in unrealized gains on securities available-for-sale partially offset by sales and principal repayments of $ 12.9 million . net loans net loans increased $ 58.8 million , or 23.1 % to $ 313.8 million at december 31 , 2020 from $ 255.0 million at december 31 , 2019. in april 2020 , the company begin participating in the ppp program and processed over 450 applications with an outstanding balance of $ 64.4 million as of december 31 , 2020. commercial real estate loans increased by $ 33.5 million to $ 68.7 million at december 31 , 2020 , from $ 35.2 million at december 31 , 2019 , primarily as a result of originations from the business banking division , whose continued focus 46 is growth of the commercial lending and commercial business loan portfolios .
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 Suspicious Activity Report : the full impact of covid-19 remains uncertain . despite these unprecedented health and economic challenges , the company remains acutely focused on the execution of our strategic plan that began in 2017 , with the conversion of a mutual to a stock bank . we intend to operate as a well-capitalized and profitable community bank dedicated to providing exceptional personal service to our consumer and business customers . we believe that we have a competitive advantage in the markets we serve because of our knowledge of the local marketplace and our long-standing history of providing superior , relationship-based customer service . our core business strategies are to : continue to originate and sell certain residential real estate loans . residential mortgage lending has historically been a significant part of our business , and we recognize that originating one- to four-family residential real estate loans is essential to our status as a community-oriented bank . during the year ended december 31 , 2020 , we originated $ 618.1 million in one- to four-family residential real estate loans held for sale , selling $ 600.8 million 41 in one- to four-family residential real estate loans held for sale for gains on sale of $ 13.3 million . during the six month transition period ended december 31 , 201 9 , we originated $ 16 7.1 million in one- to four-family residential real estate loans held for sale , selling $ 16 6.7 million in one- to four-family residential real estate loans held for sale for gains on sale of $ 3.6 million . during the year ended june 30 , 2019 , we originated $ 159.8 million in one- to four-family residential real estate loans held for sale , selling $ 140.1 million in one- to four-family residential real estate loans held for sale for gains on sale of $ 2.8 million we intend to continue to sell in the secondary market most of the long-term conforming fixed-rate one- to four-family residential real estate loans that we originate to increase non-interest income and manage the overall duration of our loan portfolio . we also intend to hold an appropriately sized portfolio of jumbo adjustable-rate one- to four-family residential real estate loans in order to increase interest income and help manage ou r interest rate risk . at december 31 , 20 20 , we had $ 73.8 million in jumbo one- to four-family residential real estate loans , which represented 52.0 % of our one- to four-family residential real estate loan portfolio compared to $ 125.5 million or 63.3 % of our one- to four-family residential real estat e loan portfolio at december 31 , 2019 . increase commercial real estate and commercial business . in 2019 , we established a new business banking division which will greatly expand the bank 's commercial real estate and commercial business portfolios . the inclusion of commercial real estate and commercial business loans may increase the yield on the loan portfolio and should help reduce interest rate risk while maintaining what we believe are conservative underwriting standards . maintain high asset quality . strong asset quality is critical to the long-term financial success of a community bank . we attribute our high asset quality to maintaining conservative underwriting standards , the diligence of our loan servicing personnel and the stability of the local economy . at december 31 , 2020 , our non-performing assets to total assets ratio was 0.71 % . because a substantial amount of our loans are secured by real estate , the level of our non-performing loans has been low in recent years as well as we adhere to a credit culture that is supported by strong underwriting standards , we believe that our allowance for loan losses is adequate to absorb the probable losses inherent in our loan portfolio . maintain level of core deposits . we plan to continue to market our transaction and savings accounts , emphasizing our high-quality , personalized customer service coupled with customer-facing technologies . we also offer the convenience of technology-based products , such as remote deposit capture , internet banking , mobile banking and mobile capture . our ratio of core ( non-time ) deposits to total deposits was 91.5 % at december 31 , 2020. critical accounting policies the discussion and analysis of the financial condition and results of operations are based on our financial statements , which are prepared in conformity with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities , disclosure of contingent assets and liabilities , and the reported amounts of income and expenses . we consider the accounting policies discussed below to be critical accounting policies . the estimates and assumptions that we use are based on historical experience and various other factors and are believed to be reasonable under the circumstances . actual results may differ from these estimates under different assumptions or conditions , resulting in a change that could have a material impact on the carrying value of our assets and liabilities and our results of operations . on april 5 , 2015 , the jobs act was signed into law . the jobs act contains provisions that , among other things , reduce certain reporting requirements for qualifying public companies . as an “ emerging growth company ” we may delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies . we intend to take advantage of the benefits of this extended transition period . accordingly , our financial statements may not be comparable to companies that comply with such new or revised accounting standards . the following represents our critical accounting policies : allowance for loan losses . story_separator_special_tag capital strength at december 31 , 2020 , the bank 's exceeded all regulatory capital requirements and was considered “ well capitalized ” under regulatory guidelines . total risk-based capital ( to risk-weighted assets ) was 13.4 % , tier 1 capital ( to risk-weighted assets ) was 12.7 % , tier 1 capital ( to average assets ) was 7.4 % , and tier 1 common equity ( to risk-weighted assets ) was 12.7 % . see footnote 10 regulatory capital for more information . deferral requests the company has worked with the customers impacted by covid-19 to provide short-term assistance up to nine months in accordance with regulatory guidelines . commercial borrowers requesting assistance have been offered either a 90-day principal and interest deferral or a 90-day interest only with a potential deferral of up to two additional months . these deferrals do not constitute troubled debt restructurings ( “ tdrs ” ) because they met the requirements under section 4013 of the cares act . under section 4013 of the cares act , loans less than 30 days past due as of december 31 , 2019 , will be considered current for covid-19 modifications . a financial institution can then use fasb agreed upon temporary changes to gaap for loan modifications related to covid-19 that would otherwise be categorized as a tdr , and suspend any determination of a loan modified as a result of covid-19 being a tdr , including the requirement to determine impairment for accounting purposes . similarly , fasb has confirmed that short-term modifications made on a good-faith basis in response to covid-19 to loan customers who were current prior to any relief are not tdrs . residential borrowers needing assistance have been offered a 90-day principal and interest deferral with a potential additional 90-day deferral . as of december 31 , 2020 , the company had two residential one-to-four family loan deferral requests and one commercial 45 real estate loan deferral request totaling $ 1 . 8 million in o utstanding loans compared to 4 residential one-to-four family loan deferral requests , representing $ 1.8 million in total o utstanding loans as of september 30 , 2020 and 73 deferral requests processed with an outstanding balance of $ 29.0 million as of june 30 , 2020. loan portfolio analysis certain industries such as those included in the company 's commercial lending portfolio are anticipated to suffer greater economic impact as a result of the covid-19 pandemic . the following table provides the outstanding exposure in regard to the company 's commercial loan portfolio by type as of december 31 , 2020. replace_table_token_20_th the extent of the impact of the covid-19 pandemic to the company 's loan portfolio is uncertain and can not be predicted as it will depend on certain developments including the duration of the pandemic and its impact on the local and national economy as a whole and the response thereto . comparison of financial condition at december 31 , 2020 and december 31 , 2019 total assets total assets increased $ 507.0 million , or 143.0 % , to $ 861.6 million at december 31 , 2020 from $ 354.6 million at december 31 , 2019. the increase was primarily the result of increases of $ 394.0 million in cash and cash equivalents , $ 58.8 million in loans receivable , $ 45.6 million in loans held for sale , $ 2.0 million in mortgage servicing rights , $ 1.7 million in mortgage banking derivatives and $ 1.7 million in right-of-use asset . story_separator_special_tag style= `` margin-top:6pt ; margin-bottom:0pt ; text-indent:4.54 % ; font-family : times new roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > total interest income increased $ 2.0 million , or 16.9 % , to $ 13.8 million for the year ended december 31 , 2020 from $ 11.8 million for the year ended december 31 , 2019. the increase was primarily the result of a $ 2.6 million increase in interest and fees on loans partially offset by a $ 373,000 decrease in interest on investment securities and a $ 249,000 decrease in interest-earning deposits with 48 banks . the average balance of our interest-earning assets increased by $ 96.3 million to $ 414.9 million for the year ended december 31 , 20 20 as compared to $ 3 18.6 million for the year ended december 31 , 201 9 . the increase was primarily a result of increases in the average balance of loans of $ 86.3 million and $ 24.2 million in interest on interest-earning deposits parti ally off-set by a decrease of $ 14.7 million in the average balance of investment securities . the average yield on our interest-earning assets de creased 39 basis points to 3 . 33 % for the year ended december 31 , 20 20 as compared to 3 . 72 % for the year ended december 31 , 201 9 primarily as a result of a lower average yield on cash and cash equivalents and investment securities as short term rates declined . interest and fees on loans increased $ 2.6 million , or 24.8 % , to $ 13.1 million for the year ended december 31 , 2020 from $ 10.5 million for the year ended december 31 , 2019. this increase resulted primarily from an $ 86.3 million increase in the average balance of loans to $ 350.5 million for the year ended december 31 , 2020 from $ 264.2 million for the year ended december 31 , 2019. the average yield on loans increased 24 basis points to 3.73 % for the year ended december 31 , 2020 from 3.97 % for the year ended december 31 , 2019. interest and dividends on investments , mortgage-backed securities and collateralized mortgage obligations decreased $ 373,000 , or 43.6 % , to $ 482,000 for the year ended december 31 , 2020

