the quarterly review and adjustment of the qualitative factors employed in the allowance methodology and the updating of historic loss experience allow for timely reaction to emerging conditions and trends . in this context , a series of qualitative factors are used in a methodology as a measurement of how current circumstances are affecting the loan portfolio . included in these qualitative factors are : levels of past due , classified , criticized and non-accrual loans , tdrs and loan modifications ; nature and volume of loans ; changes in lending policies and procedures , underwriting standards , collections , charge-offs and recoveries and for commercial loans , the level of loans being approved with exceptions to lending policy ; experience , ability and depth of management and staff ; national and local economic and business conditions , including various market segments ; quality of the company 's loan review system and degree of board oversight ; concentrations of credit and changes in levels of such concentrations ; and effect of external factors on the level of estimated credit losses in the current portfolio . in determining the allowance for loan losses , management has established both specific and general pooled allowances . values assigned to the qualitative factors and those developed from historic loss experience provide a dynamic basis for the calculation of reserve factors for both pass-rated loans ( general pooled allowance ) and for criticized and classified loans . the amount of the specific allowance is determined through a loan-by-loan analysis of certain large dollar commercial real estate loans . loans not individually reviewed are evaluated as a group using reserve factor percentages based on historical loss experience and the qualitative factors described above . in determining the appropriate level of the general pooled allowance , management makes estimates based on internal risk ratings , which take into account such factors as debt service coverage , loan-to-value ratios and external factors . estimates are periodically measured against actual loss experience . this evaluation is inherently subjective as it requires material estimates including , among others , exposure at default , the amount and timing of expected future cash flows on impaired loans , value of collateral , estimated losses on our commercial , construction and residential loan portfolios and historical loss experience . all of these estimates may be susceptible to significant change . while management uses the best information available to make loan loss allowance evaluations , adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance . in addition , the department and the fdic , as an integral part of their examination processes , periodically review our allowance for loan losses . the department and the fdic may require the recognition of adjustments to the allowance for loan losses based on their judgment of information available to them at the time of their examinations . to the extent that actual outcomes differ from management 's estimates , additional provisions to the allowance for loan losses may be required that would adversely affect earnings in future periods . investment and mortgage-backed securities available for sale . where quoted prices are available in an active market , securities are classified within level 1 of the valuation hierarchy . if quoted market prices are not available , then fair values are estimated using quoted prices of securities with similar characteristics or discounted cash flows and are classified within level 2 of the fair value hierarchy . in certain cases where there is limited activity or less transparency around inputs to the valuation , securities are classified within level 3 of the valuation hierarchy , although there were no securities with that classification as of september 30 , 2019 or 2018 . 61 management evaluates securities for other-than-temporary impairment at least on a quarterly basis , and more frequently when economic or market concerns warrant such evaluation . the company determines whether the unrealized losses are temporary in accordance with u.s. gaap . the evaluation is based upon factors such as the creditworthiness of the issuers/guarantors , the underlying collateral , if applicable , and the continuing performance of the securities . in addition , the company also considers the likelihood that the security will be required to be sold by a regulatory agency , our internal intent not to dispose of the security prior to maturity and whether the entire cost basis of the security is expected to be recovered . in determining whether the cost basis will be recovered , management evaluates other facts and circumstances that may be indicative of an other-than-temporary impairment condition . this includes , but is not limited to , an evaluation of the type of security , length of time and extent to which the fair value has been less than cost , and near-term prospects of the issuer . in addition , certain assets are measured at fair value on a non-recurring basis ; that is , the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances ( for example , when there is evidence of impairment ) . the company measures impaired loans and loans transferred into real estate owned at fair value on a non-recurring basis . valuation techniques and models utilized for measuring financial assets and liabilities are reviewed and validated by the company at least quarterly . derivatives . the company uses interest rate swaps and caps as part of its interest rate risk management strategy . interest rate swaps designated as cash flow hedges involve the payment of either fixed or variable-rate amounts in exchange for the receipt of variable or fixed-rate amounts from a counterparty , respectively . the company uses interest rate swaps to manage its exposure to changes in fair value . story_separator_special_tag the proceeds from the sales were used to invest in higher yielding loan and investment products . non-interest expense . 2019 vs. 2018. for the fiscal year ended september 30 , 2019 , non-interest expense increased $ 631,000 , to $ 16.3 million compared to $ 15.6 million for fiscal year 2018. the primary reason for the higher level of non-interest expense experienced during the year ended september 30 , 2019 , as compared to fiscal year 2018 , was the hiring of additional personnel for our lending operations and an increase in fdic deposit insurance expense . in connection with the bank 's increased emphasis on the origination of commercial real estate and construction and land development loans and the attendant increase in such portfolios , the bank has expanded its lending department operations . partially offsetting these increases were decreases in professional fees and occupancy expense as the company maintained its focus on the continued implementation of operating efficiencies . 2018 vs. 2017. for the year ended september 30 , 2018 , non-interest expense decreased $ 927,000 , to $ 15.6 million compared to $ 16.6 million for fiscal year 2017. the primary reason for the higher level of non-interest expense experienced during the year ended september 30 , 2017 , as compared to fiscal year 2018 , was the one-time merger-related charge in the 2017 period of approximately $ 2.5 million , pre-tax , incurred in connection with the completion of the polonia bancorp acquisition in january 2017 , the decline in fiscal 2018 being partially offset primarily by increases in employee expense and professional services . income tax expense . 2019 vs. 2018 . for the year ended september 30 , 2019 , the company recorded income tax expense of $ 1.9 million , compared to $ 3.7 million for fiscal 2018. the reduction in income tax expense in fiscal 2019 primarily reflected the benefit throughout fiscal 2019 associated with the fully implemented decrease in the federal statutory income tax rate , effective january 1 , 2018 , reducing the company 's statutory tax rate to 21 % . the $ 3.7 million tax expense for the fiscal year ended september 30 , 2018 included a one-time charge of $ 1.8 million related to a revaluation of the company 's deferred tax assets due to the tax legislation enacted in december 2017 that reduced the statutory federal income tax rate from 35 % to 21 % . however , since the company has a september 30 fiscal year , the decrease in the income tax rate was not fully phased in until october 1 , 2018 . 69 2018 vs. 2017 . for the year ended september 30 , 2018 , the company recorded income tax expense of $ 3.7 million , compared to $ 941,000 for fiscal 2017. the $ 3.7 million tax expense for the year ended september 30 , 2018 included a one-time non-cash charge of $ 1.8 million related to a revaluation of the company 's deferred tax assets due to the tax cuts and jobs act legislation enacted in december 2017 that reduced the statutory corporate income tax rate from 35 % to 21 % . during fiscal 2018 , commencing with the quarter ended december 31 , 2017 , the company 's statutory corporate income tax rate was reduced to 24.25 % as compared to companies which are calendar year tax reporting companies whose statutory rate decreased to 21 % starting january 1 , 2018. effective october 1 , 2018 , the company 's statutory tax rate was reduced to 21 % . the company 's tax obligation for the year ended september 30 , 2017 was reduced significantly due to the one-time merger-related charge related to the polonia bancorp acquisition and a one-time loan write-down described previously , both of which were recorded during the three months ended march 31 , 2017. story_separator_special_tag assumed to have annual rates of withdrawal , or “ decay rates , ” based on information from an internal analysis of our accounts up to a maximum of ten years . 72 replace_table_token_31_th ( 1 ) interest-earning assets are included in the period in which the balances are expected to be redeployed and or repriced as a result of anticipated prepayments , scheduled rate adjustments and contractual maturities . ( 2 ) for purposes of the gap analysis , loans receivable includes non-performing loans , gross of the allowance for loan losses and unamortized discounts and deferred loan fees . ( 3 ) includes restricted stock in the fhlb of pittsburgh and acbb . ( 4 ) interest-rate sensitivity gap represents the difference between total interest-earning assets and total interest-bearing liabilities . certain shortcomings are inherent in the method of analysis presented in the foregoing table . for example , although certain assets and liabilities may have similar maturities or periods to repricing , they may react in different degrees to changes in market interest rates . also , the interest rates on certain types of assets and liabilities may fluctuate in advance of changes in market interest rates , while interest rates on other types may lag behind changes in market rates . additionally , certain assets , such as adjustable-rate loans , have features which restrict changes in interest rates both on a short-term basis and over the life of the asset . further , in the event of a change in interest rates , prepayment and early withdrawal levels would likely deviate significantly from those assumed in calculating the table . finally , the ability of many borrowers to service their adjustable-rate loans may decrease in the event of an interest rate increase . 73 net portfolio value analysis . our interest rate sensitivity also is monitored by management through the use of a model which generates estimates of the changes in our net portfolio value ( “ npv ” ) over a range of interest rate scenarios . npv is the

liquidity and capital resources liquidity is the ability to maintain cash flows that are adequate to fund operations and meet other obligations on a timely and cost-effective basis in various market conditions . the ability of the company to meet its current financial obligations is a function of balance sheet structure , the ability to liquidate assets and the availability of alternative sources of funds . to meet the needs of the clients and manage the risk of the company , the company engages in liquidity planning and management . our primary sources of funds are from deposits , scheduled principal and interest payments on loans , loan prepayments and the maturity of loans , mortgage-backed securities and other investments , and other funds provided from operations . while scheduled payments from the amortization of loans and mortgage-backed securities and maturing investment securities are relatively predictable sources of funds , deposit flows and loan prepayments can be greatly influenced by general interest rates , economic conditions and competition . we also maintain excess funds in short-term , interest-bearing assets that provide additional liquidity . at september 30 , 2019 , our cash and cash equivalents amounted to $ 48.0 million . in addition , our available-for-sale investment and mortgage-backed securities amounted to an aggregate of $ 512.8 million at september 30 , 2019. we use our liquidity to fund existing and future loan commitments , to fund maturing certificates of deposit and demand deposit withdrawals , to invest in other interest-earning assets , and to meet operating expenses . at september 30 , 2019 , we had certificates of deposit maturing within the next 12 months amounting to $ 405.7 million . we anticipate that a significant portion of the maturing certificates of deposit will be redeposited with us unless we determine to lower rates to below those of our competition in order to facilitate the reduction of higher cost deposits during periods when there is excess cash on hand or in order to satisfy our asset/liability goals . there were no deposits as of september 30 , 2019 requiring the pledging of collateral .


 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.
     ```liquidity and capital resources liquidity is the ability to maintain cash flows that are adequate to fund operations and meet other obligations on a timely and cost-effective basis in various market conditions . the ability of the company to meet its current financial obligations is a function of balance sheet structure , the ability to liquidate assets and the availability of alternative sources of funds . to meet the needs of the clients and manage the risk of the company , the company engages in liquidity planning and management . our primary sources of funds are from deposits , scheduled principal and interest payments on loans , loan prepayments and the maturity of loans , mortgage-backed securities and other investments , and other funds provided from operations . while scheduled payments from the amortization of loans and mortgage-backed securities and maturing investment securities are relatively predictable sources of funds , deposit flows and loan prepayments can be greatly influenced by general interest rates , economic conditions and competition . we also maintain excess funds in short-term , interest-bearing assets that provide additional liquidity . at september 30 , 2019 , our cash and cash equivalents amounted to $ 48.0 million . in addition , our available-for-sale investment and mortgage-backed securities amounted to an aggregate of $ 512.8 million at september 30 , 2019. we use our liquidity to fund existing and future loan commitments , to fund maturing certificates of deposit and demand deposit withdrawals , to invest in other interest-earning assets , and to meet operating expenses . at september 30 , 2019 , we had certificates of deposit maturing within the next 12 months amounting to $ 405.7 million . we anticipate that a significant portion of the maturing certificates of deposit will be redeposited with us unless we determine to lower rates to below those of our competition in order to facilitate the reduction of higher cost deposits during periods when there is excess cash on hand or in order to satisfy our asset/liability goals . there were no deposits as of september 30 , 2019 requiring the pledging of collateral .
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 Suspicious Activity Report : the quarterly review and adjustment of the qualitative factors employed in the allowance methodology and the updating of historic loss experience allow for timely reaction to emerging conditions and trends . in this context , a series of qualitative factors are used in a methodology as a measurement of how current circumstances are affecting the loan portfolio . included in these qualitative factors are : levels of past due , classified , criticized and non-accrual loans , tdrs and loan modifications ; nature and volume of loans ; changes in lending policies and procedures , underwriting standards , collections , charge-offs and recoveries and for commercial loans , the level of loans being approved with exceptions to lending policy ; experience , ability and depth of management and staff ; national and local economic and business conditions , including various market segments ; quality of the company 's loan review system and degree of board oversight ; concentrations of credit and changes in levels of such concentrations ; and effect of external factors on the level of estimated credit losses in the current portfolio . in determining the allowance for loan losses , management has established both specific and general pooled allowances . values assigned to the qualitative factors and those developed from historic loss experience provide a dynamic basis for the calculation of reserve factors for both pass-rated loans ( general pooled allowance ) and for criticized and classified loans . the amount of the specific allowance is determined through a loan-by-loan analysis of certain large dollar commercial real estate loans . loans not individually reviewed are evaluated as a group using reserve factor percentages based on historical loss experience and the qualitative factors described above . in determining the appropriate level of the general pooled allowance , management makes estimates based on internal risk ratings , which take into account such factors as debt service coverage , loan-to-value ratios and external factors . estimates are periodically measured against actual loss experience . this evaluation is inherently subjective as it requires material estimates including , among others , exposure at default , the amount and timing of expected future cash flows on impaired loans , value of collateral , estimated losses on our commercial , construction and residential loan portfolios and historical loss experience . all of these estimates may be susceptible to significant change . while management uses the best information available to make loan loss allowance evaluations , adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance . in addition , the department and the fdic , as an integral part of their examination processes , periodically review our allowance for loan losses . the department and the fdic may require the recognition of adjustments to the allowance for loan losses based on their judgment of information available to them at the time of their examinations . to the extent that actual outcomes differ from management 's estimates , additional provisions to the allowance for loan losses may be required that would adversely affect earnings in future periods . investment and mortgage-backed securities available for sale . where quoted prices are available in an active market , securities are classified within level 1 of the valuation hierarchy . if quoted market prices are not available , then fair values are estimated using quoted prices of securities with similar characteristics or discounted cash flows and are classified within level 2 of the fair value hierarchy . in certain cases where there is limited activity or less transparency around inputs to the valuation , securities are classified within level 3 of the valuation hierarchy , although there were no securities with that classification as of september 30 , 2019 or 2018 . 61 management evaluates securities for other-than-temporary impairment at least on a quarterly basis , and more frequently when economic or market concerns warrant such evaluation . the company determines whether the unrealized losses are temporary in accordance with u.s. gaap . the evaluation is based upon factors such as the creditworthiness of the issuers/guarantors , the underlying collateral , if applicable , and the continuing performance of the securities . in addition , the company also considers the likelihood that the security will be required to be sold by a regulatory agency , our internal intent not to dispose of the security prior to maturity and whether the entire cost basis of the security is expected to be recovered . in determining whether the cost basis will be recovered , management evaluates other facts and circumstances that may be indicative of an other-than-temporary impairment condition . this includes , but is not limited to , an evaluation of the type of security , length of time and extent to which the fair value has been less than cost , and near-term prospects of the issuer . in addition , certain assets are measured at fair value on a non-recurring basis ; that is , the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances ( for example , when there is evidence of impairment ) . the company measures impaired loans and loans transferred into real estate owned at fair value on a non-recurring basis . valuation techniques and models utilized for measuring financial assets and liabilities are reviewed and validated by the company at least quarterly . derivatives . the company uses interest rate swaps and caps as part of its interest rate risk management strategy . interest rate swaps designated as cash flow hedges involve the payment of either fixed or variable-rate amounts in exchange for the receipt of variable or fixed-rate amounts from a counterparty , respectively . the company uses interest rate swaps to manage its exposure to changes in fair value . story_separator_special_tag the proceeds from the sales were used to invest in higher yielding loan and investment products . non-interest expense . 2019 vs. 2018. for the fiscal year ended september 30 , 2019 , non-interest expense increased $ 631,000 , to $ 16.3 million compared to $ 15.6 million for fiscal year 2018. the primary reason for the higher level of non-interest expense experienced during the year ended september 30 , 2019 , as compared to fiscal year 2018 , was the hiring of additional personnel for our lending operations and an increase in fdic deposit insurance expense . in connection with the bank 's increased emphasis on the origination of commercial real estate and construction and land development loans and the attendant increase in such portfolios , the bank has expanded its lending department operations . partially offsetting these increases were decreases in professional fees and occupancy expense as the company maintained its focus on the continued implementation of operating efficiencies . 2018 vs. 2017. for the year ended september 30 , 2018 , non-interest expense decreased $ 927,000 , to $ 15.6 million compared to $ 16.6 million for fiscal year 2017. the primary reason for the higher level of non-interest expense experienced during the year ended september 30 , 2017 , as compared to fiscal year 2018 , was the one-time merger-related charge in the 2017 period of approximately $ 2.5 million , pre-tax , incurred in connection with the completion of the polonia bancorp acquisition in january 2017 , the decline in fiscal 2018 being partially offset primarily by increases in employee expense and professional services . income tax expense . 2019 vs. 2018 . for the year ended september 30 , 2019 , the company recorded income tax expense of $ 1.9 million , compared to $ 3.7 million for fiscal 2018. the reduction in income tax expense in fiscal 2019 primarily reflected the benefit throughout fiscal 2019 associated with the fully implemented decrease in the federal statutory income tax rate , effective january 1 , 2018 , reducing the company 's statutory tax rate to 21 % . the $ 3.7 million tax expense for the fiscal year ended september 30 , 2018 included a one-time charge of $ 1.8 million related to a revaluation of the company 's deferred tax assets due to the tax legislation enacted in december 2017 that reduced the statutory federal income tax rate from 35 % to 21 % . however , since the company has a september 30 fiscal year , the decrease in the income tax rate was not fully phased in until october 1 , 2018 . 69 2018 vs. 2017 . for the year ended september 30 , 2018 , the company recorded income tax expense of $ 3.7 million , compared to $ 941,000 for fiscal 2017. the $ 3.7 million tax expense for the year ended september 30 , 2018 included a one-time non-cash charge of $ 1.8 million related to a revaluation of the company 's deferred tax assets due to the tax cuts and jobs act legislation enacted in december 2017 that reduced the statutory corporate income tax rate from 35 % to 21 % . during fiscal 2018 , commencing with the quarter ended december 31 , 2017 , the company 's statutory corporate income tax rate was reduced to 24.25 % as compared to companies which are calendar year tax reporting companies whose statutory rate decreased to 21 % starting january 1 , 2018. effective october 1 , 2018 , the company 's statutory tax rate was reduced to 21 % . the company 's tax obligation for the year ended september 30 , 2017 was reduced significantly due to the one-time merger-related charge related to the polonia bancorp acquisition and a one-time loan write-down described previously , both of which were recorded during the three months ended march 31 , 2017. story_separator_special_tag assumed to have annual rates of withdrawal , or “ decay rates , ” based on information from an internal analysis of our accounts up to a maximum of ten years . 72 replace_table_token_31_th ( 1 ) interest-earning assets are included in the period in which the balances are expected to be redeployed and or repriced as a result of anticipated prepayments , scheduled rate adjustments and contractual maturities . ( 2 ) for purposes of the gap analysis , loans receivable includes non-performing loans , gross of the allowance for loan losses and unamortized discounts and deferred loan fees . ( 3 ) includes restricted stock in the fhlb of pittsburgh and acbb . ( 4 ) interest-rate sensitivity gap represents the difference between total interest-earning assets and total interest-bearing liabilities . certain shortcomings are inherent in the method of analysis presented in the foregoing table . for example , although certain assets and liabilities may have similar maturities or periods to repricing , they may react in different degrees to changes in market interest rates . also , the interest rates on certain types of assets and liabilities may fluctuate in advance of changes in market interest rates , while interest rates on other types may lag behind changes in market rates . additionally , certain assets , such as adjustable-rate loans , have features which restrict changes in interest rates both on a short-term basis and over the life of the asset . further , in the event of a change in interest rates , prepayment and early withdrawal levels would likely deviate significantly from those assumed in calculating the table . finally , the ability of many borrowers to service their adjustable-rate loans may decrease in the event of an interest rate increase . 73 net portfolio value analysis . our interest rate sensitivity also is monitored by management through the use of a model which generates estimates of the changes in our net portfolio value ( “ npv ” ) over a range of interest rate scenarios . npv is the

