this includes 9,200 indirect automobile loans and 8,100 direct automobile loans , representing $ 93.2 million and $ 61.2 million in finance receivables , respectively . retail loans  as of december 31 , 2014 , we had approximately 25,900 retail purchase loans outstanding , representing $ 26.1 million in finance receivables . insurance products  we offer our customers optional payment protection insurance options relating to many of our loan products . branch small loans , convenience checks , and large loans are our core products and will be the drivers of our future growth . our primary sources of revenue are interest and fee income from our loan products , of which interest and fees relating to branch small loans , convenience checks , and automobile loans have historically been the largest component . we also offer automobile loans and retail loans through online credit application networks . in addition to interest and fee income from loans , we derive revenue from optional insurance products purchased by customers of our direct loan products . factors affecting our results of operations our business is driven by several factors affecting our revenues , costs , and results of operations , including the following : growth in loan portfolio . the revenue that we derive from interest and fees from our loan products is largely driven by the amount of loans that we originate . we originated or purchased approximately 143,500 , 172,900 , and 120,900 new loan accounts during 2014 , 2013 , and 2012 , respectively . average finance receivables grew 36.5 % from $ 264.5 million in 2011 to $ 361.1 million in 2012 , grew 32.2 % to $ 477.4 million in 2013 , and grew 10.9 % to $ 529.5 million in 2014. we source our loans through our branches and our direct mail program , as well as through automobile dealerships and retailers that partner with us . our loans are made almost exclusively in geographic markets served by our network of branches . increasing the number of branches we operate allows us to increase the number of loans that we are able to service . we opened or acquired 36 , 43 , and 51 new branches in 2014 , 2013 , and 2012 , respectively . we believe we have the opportunity to add as many as 700 additional branches over time in the states where it is currently favorable for us to conduct business , and we have plans to continue to grow our branch network . product mix . we offer a number of different loan products , including small loans ( comprised of branch small loans and convenience checks ) , large loans , automobile loans , and retail loans . we charge different interest rates and fees and are exposed to different credit risks with respect to the various types of loans we offer . our product mix also varies to some extent by state , and we expect to continue to diversify our product mix in the future . asset quality . our results of operations are highly dependent upon the quality of our asset portfolio . we recorded a $ 69.1 million provision for credit losses during 2014 ( or 13.0 % as a percentage of average finance receivables ) , a $ 39.2 million provision for credit losses during 2013 ( or 8.2 % of average finance receivables ) , and a $ 27.8 million provision for credit losses during 2012 ( or 7.7 % of average finance receivables ) . the quality of our asset portfolio is the result of our ability to enforce sound underwriting standards , maintain diligent service and collection of the portfolio , and respond to changing economic conditions as we grow our loan portfolio . 48 allowance for credit losses . we evaluate losses in each of our categories of loans in establishing the allowance for credit losses . the following table sets forth our allowance for credit losses compared to the related finance receivables ( in thousands ) : replace_table_token_15_th the allowance for credit losses uses the net charge-off rate for the most recent six months ( branch small loans and convenience checks ) , ten months ( large and retail loans ) , and twelve months ( automobile loans ) as a percentage of the most recent month-end balance of loans as a key data point in estimating the allowance . based on our 2014 annual evaluation of the effective lives of our loan categories , retail loans have been updated to use a ten month effective life rather than eleven . this had a negligible impact on the allowance due to the relative size of the retail loan portfolio . we believe that the primary underlying factors driving the provision for credit losses for each of these loan types are our underwriting standards , the general economic conditions in the areas in which we conduct business , and the effectiveness of our collection efforts . in addition , gasoline prices and the market for repossessed automobiles at auction are additional underlying factors that we believe influence the provision for credit losses for automobile purchase loans and , to a lesser extent , large loans . we monitor these factors , the amount and past due status of delinquencies , and the slow file ( which consists of all loans one or more days past due ) to identify trends that might require us to modify the allowance for credit losses accordingly . the allowance as a percentage of finance receivables increased from december 31 , 2013 to december 31 , 2014 for convenience checks due to increased delinquency and net charge-offs that resulted from a higher-than-normal proportion of lower credit quality loans originated during the summer direct mail campaigns . interest rates . story_separator_special_tag legal ( compliance , compensation , class action , and other ) costs . 57 we are transitioning to a new loan management system . with this new systems platform , we expect enhanced functionality and efficiency in the processing and servicing of our diverse product portfolio and growing loan account base . the transition created one-time implementation costs of $ 1.8 million for the year ended december 31 , 2014. in october 2014 , we accepted the resignation of our chief executive officer (  executive  ) . the resignation was treated as a termination without cause pursuant to the executive 's employment agreement , dated march 18 , 2013. we entered into a separation agreement with the executive , dated december 11 , 2014. the employment agreement and the separation agreement are attached as exhibits 10.1 to the current reports on form 8-k , filed with the sec on march 21 , 2013 and december 17 , 2014 , respectively . in the three months ended december 31 , 2014 , we recorded $ 1.2 million for the cost of the separation agreement , which is included in personnel expense on the consolidated income statement . we modernized our pto policy effective february 1 , 2014. the new policy terms are more consistent with industry practices on the amount of pto , eligible service requirements , cashout policy , and the use of partial pto days . the policy change had accounting implications . under the legacy policy , employees earned pto in one year and then were able to use the pto in the following year . that type of policy created a pto liability under compensated absences accounting literature . under the new policy , pto is earned and used in the same calendar year , eliminating a pto liability at the end of each year ( with the exception of carryover pto granted in extenuating circumstances ) . in the transition to the new policy , employees were given the opportunity to forfeit earned and unused pto days under the legacy policy in exchange for additional pto days and other benefits under the new policy or to remain on the old policy . as a result , effective january 31 , 2014 , based upon employee elections in january 2014 , the pto liability for certain employees was eliminated , and beginning february 1 , 2014 , such employees began accruing pto under the new policy . the effect of the policy change was reflected in the period the change was implemented . thus , in the first quarter of 2014 , this change in policy resulted in a reversal of $ 1.4 million of personnel expense . the policy was amended in december 2014 to allow employees to carry-over up to 40 hours of pto into the following calendar year . any carried over time must be used during the first quarter of the following year or it will be forfeited . personnel . the largest component of general and administrative expenses is personnel expense , which increased $ 15.5 million , or 38.9 % , to $ 55.4 million in 2014 from $ 39.9 million for 2013. this increase is primarily due to $ 4.0 million in additional costs related to the 79 branches opened in 2013 and 2014 , $ 1.9 million to increase personnel and $ 1.2 million for overtime to improve collections , $ 0.8 million for increased operations car expense allowances , $ 1.2 million for increased insurance costs primarily due to the affordable care act requirements , and $ 0.5 million for increased branch bonuses . in addition , we added approximately $ 2.0 million in corporate functions to handle growth and reduce outsourced providers in 2015 and had $ 1.2 million in executive separation costs . the compensation committee also revised our short-term incentive plan and implemented a long-term incentive plan . these changes added approximately $ 0.7 million in costs to 2014 and we expect about $ 0.5 million of incremental quarterly run rate going forward . occupancy . occupancy expenses increased $ 3.8 million , or 32.5 % , to $ 15.4 million in 2014 from $ 11.6 million in 2013. the increase in occupancy expenses is the result of 36 branches opened in 2014 , telecommunications upgrades , and increased data processing needs . additionally , we frequently experience increases in rent as we renew existing leases . marketing . marketing expenses increased $ 2.4 million , or 59.0 % , to $ 6.3 million in 2014 from $ 4.0 million in 2013. the increase was due to the increases in the volume of our mail campaigns , invitations to apply and pre-qualified offers to support our 36 new branches and grow our loan portfolio . 58 other expenses . other expenses increased $ 4.1 million , or 26.3 % , to $ 19.6 million in 2014 from $ 15.6 million in 2013. the increase was primarily due to $ 1.8 million of non-operating expenses related to the implementation of a new loan management system , the addition of 36 new branches , and other legal , compliance and human resources consulting costs associated with being a growing public company . the increase was offset by prior year non-operating expenses of $ 2.0 million related to director compensation and the secondary offerings . interest expense . interest expense on the senior revolving credit facility and other debt increased $ 803,000 , or 5.7 % , to $ 14.9 million in 2014 from $ 14.1 million in 2013. this increase was due primarily to the increase in the average balance of our senior revolving credit facility . the average cost of our senior revolving credit facility decreased by 3 basis points from 4.51 % for the year ended december 31 , 2013 to 4.48 % for the year ended december 31 , 2014. the difference was due primarily to the mix between our libor-based

liquidity and capital resources our primary cash needs relate to the funding of our lending activities and , to a lesser extent , capital expenditures relating to expanding and maintaining our branch locations . in connection with our plans to expand our branch network in future years , we will incur approximately $ 3.0 million to $ 6.0 million of capital expenditures annually . we have historically financed , and plan to continue to finance , our short-term and long-term operating liquidity and capital needs through a combination of cash flows from operations and borrowings under our senior revolving credit facility . as a holding company , almost all of the funds generated from our operations are earned by our operating subsidiaries . in addition , our wholly-owned subsidiary , rmc reinsurance ltd. , is required to maintain cash reserves against life insurance policies ceded to it , as determined by the ceding company , and has also purchased a cash-collateralized letter of credit in favor of the ceding company . as of december 31 , 2014 , these reserve requirements totaled $ 1.9 million . additionally , we had a reserve for life insurance claims on our balance sheet of $ 215,000 , as determined by the third party , unrelated ceding company . cash flow . operating activities . net cash provided by operating activities increased by $ 12.9 million , or 17.8 % , to $ 85.5 million in 2014 from $ 72.6 million in 2013. the increase was primarily due to higher net income , before provision for credit losses , due to growth in the business . net cash provided by operating activities increased by $ 14.9 million , or 25.8 % , to $ 72.6 million in 2013 from $ 57.7 million in 2012. the increase was primarily due to higher profitability due to growth in the business . investing activities . investing activities consist of finance receivables originated and purchased , net change in restricted cash , and the purchase of furniture and equipment for new and existing branches .


 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 our primary cash needs relate to the funding of our lending activities and , to a lesser extent , capital expenditures relating to expanding and maintaining our branch locations . in connection with our plans to expand our branch network in future years , we will incur approximately $ 3.0 million to $ 6.0 million of capital expenditures annually . we have historically financed , and plan to continue to finance , our short-term and long-term operating liquidity and capital needs through a combination of cash flows from operations and borrowings under our senior revolving credit facility . as a holding company , almost all of the funds generated from our operations are earned by our operating subsidiaries . in addition , our wholly-owned subsidiary , rmc reinsurance ltd. , is required to maintain cash reserves against life insurance policies ceded to it , as determined by the ceding company , and has also purchased a cash-collateralized letter of credit in favor of the ceding company . as of december 31 , 2014 , these reserve requirements totaled $ 1.9 million . additionally , we had a reserve for life insurance claims on our balance sheet of $ 215,000 , as determined by the third party , unrelated ceding company . cash flow . operating activities . net cash provided by operating activities increased by $ 12.9 million , or 17.8 % , to $ 85.5 million in 2014 from $ 72.6 million in 2013. the increase was primarily due to higher net income , before provision for credit losses , due to growth in the business . net cash provided by operating activities increased by $ 14.9 million , or 25.8 % , to $ 72.6 million in 2013 from $ 57.7 million in 2012. the increase was primarily due to higher profitability due to growth in the business . investing activities . investing activities consist of finance receivables originated and purchased , net change in restricted cash , and the purchase of furniture and equipment for new and existing branches .
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 Suspicious Activity Report : this includes 9,200 indirect automobile loans and 8,100 direct automobile loans , representing $ 93.2 million and $ 61.2 million in finance receivables , respectively . retail loans  as of december 31 , 2014 , we had approximately 25,900 retail purchase loans outstanding , representing $ 26.1 million in finance receivables . insurance products  we offer our customers optional payment protection insurance options relating to many of our loan products . branch small loans , convenience checks , and large loans are our core products and will be the drivers of our future growth . our primary sources of revenue are interest and fee income from our loan products , of which interest and fees relating to branch small loans , convenience checks , and automobile loans have historically been the largest component . we also offer automobile loans and retail loans through online credit application networks . in addition to interest and fee income from loans , we derive revenue from optional insurance products purchased by customers of our direct loan products . factors affecting our results of operations our business is driven by several factors affecting our revenues , costs , and results of operations , including the following : growth in loan portfolio . the revenue that we derive from interest and fees from our loan products is largely driven by the amount of loans that we originate . we originated or purchased approximately 143,500 , 172,900 , and 120,900 new loan accounts during 2014 , 2013 , and 2012 , respectively . average finance receivables grew 36.5 % from $ 264.5 million in 2011 to $ 361.1 million in 2012 , grew 32.2 % to $ 477.4 million in 2013 , and grew 10.9 % to $ 529.5 million in 2014. we source our loans through our branches and our direct mail program , as well as through automobile dealerships and retailers that partner with us . our loans are made almost exclusively in geographic markets served by our network of branches . increasing the number of branches we operate allows us to increase the number of loans that we are able to service . we opened or acquired 36 , 43 , and 51 new branches in 2014 , 2013 , and 2012 , respectively . we believe we have the opportunity to add as many as 700 additional branches over time in the states where it is currently favorable for us to conduct business , and we have plans to continue to grow our branch network . product mix . we offer a number of different loan products , including small loans ( comprised of branch small loans and convenience checks ) , large loans , automobile loans , and retail loans . we charge different interest rates and fees and are exposed to different credit risks with respect to the various types of loans we offer . our product mix also varies to some extent by state , and we expect to continue to diversify our product mix in the future . asset quality . our results of operations are highly dependent upon the quality of our asset portfolio . we recorded a $ 69.1 million provision for credit losses during 2014 ( or 13.0 % as a percentage of average finance receivables ) , a $ 39.2 million provision for credit losses during 2013 ( or 8.2 % of average finance receivables ) , and a $ 27.8 million provision for credit losses during 2012 ( or 7.7 % of average finance receivables ) . the quality of our asset portfolio is the result of our ability to enforce sound underwriting standards , maintain diligent service and collection of the portfolio , and respond to changing economic conditions as we grow our loan portfolio . 48 allowance for credit losses . we evaluate losses in each of our categories of loans in establishing the allowance for credit losses . the following table sets forth our allowance for credit losses compared to the related finance receivables ( in thousands ) : replace_table_token_15_th the allowance for credit losses uses the net charge-off rate for the most recent six months ( branch small loans and convenience checks ) , ten months ( large and retail loans ) , and twelve months ( automobile loans ) as a percentage of the most recent month-end balance of loans as a key data point in estimating the allowance . based on our 2014 annual evaluation of the effective lives of our loan categories , retail loans have been updated to use a ten month effective life rather than eleven . this had a negligible impact on the allowance due to the relative size of the retail loan portfolio . we believe that the primary underlying factors driving the provision for credit losses for each of these loan types are our underwriting standards , the general economic conditions in the areas in which we conduct business , and the effectiveness of our collection efforts . in addition , gasoline prices and the market for repossessed automobiles at auction are additional underlying factors that we believe influence the provision for credit losses for automobile purchase loans and , to a lesser extent , large loans . we monitor these factors , the amount and past due status of delinquencies , and the slow file ( which consists of all loans one or more days past due ) to identify trends that might require us to modify the allowance for credit losses accordingly . the allowance as a percentage of finance receivables increased from december 31 , 2013 to december 31 , 2014 for convenience checks due to increased delinquency and net charge-offs that resulted from a higher-than-normal proportion of lower credit quality loans originated during the summer direct mail campaigns . interest rates . story_separator_special_tag legal ( compliance , compensation , class action , and other ) costs . 57 we are transitioning to a new loan management system . with this new systems platform , we expect enhanced functionality and efficiency in the processing and servicing of our diverse product portfolio and growing loan account base . the transition created one-time implementation costs of $ 1.8 million for the year ended december 31 , 2014. in october 2014 , we accepted the resignation of our chief executive officer (  executive  ) . the resignation was treated as a termination without cause pursuant to the executive 's employment agreement , dated march 18 , 2013. we entered into a separation agreement with the executive , dated december 11 , 2014. the employment agreement and the separation agreement are attached as exhibits 10.1 to the current reports on form 8-k , filed with the sec on march 21 , 2013 and december 17 , 2014 , respectively . in the three months ended december 31 , 2014 , we recorded $ 1.2 million for the cost of the separation agreement , which is included in personnel expense on the consolidated income statement . we modernized our pto policy effective february 1 , 2014. the new policy terms are more consistent with industry practices on the amount of pto , eligible service requirements , cashout policy , and the use of partial pto days . the policy change had accounting implications . under the legacy policy , employees earned pto in one year and then were able to use the pto in the following year . that type of policy created a pto liability under compensated absences accounting literature . under the new policy , pto is earned and used in the same calendar year , eliminating a pto liability at the end of each year ( with the exception of carryover pto granted in extenuating circumstances ) . in the transition to the new policy , employees were given the opportunity to forfeit earned and unused pto days under the legacy policy in exchange for additional pto days and other benefits under the new policy or to remain on the old policy . as a result , effective january 31 , 2014 , based upon employee elections in january 2014 , the pto liability for certain employees was eliminated , and beginning february 1 , 2014 , such employees began accruing pto under the new policy . the effect of the policy change was reflected in the period the change was implemented . thus , in the first quarter of 2014 , this change in policy resulted in a reversal of $ 1.4 million of personnel expense . the policy was amended in december 2014 to allow employees to carry-over up to 40 hours of pto into the following calendar year . any carried over time must be used during the first quarter of the following year or it will be forfeited . personnel . the largest component of general and administrative expenses is personnel expense , which increased $ 15.5 million , or 38.9 % , to $ 55.4 million in 2014 from $ 39.9 million for 2013. this increase is primarily due to $ 4.0 million in additional costs related to the 79 branches opened in 2013 and 2014 , $ 1.9 million to increase personnel and $ 1.2 million for overtime to improve collections , $ 0.8 million for increased operations car expense allowances , $ 1.2 million for increased insurance costs primarily due to the affordable care act requirements , and $ 0.5 million for increased branch bonuses . in addition , we added approximately $ 2.0 million in corporate functions to handle growth and reduce outsourced providers in 2015 and had $ 1.2 million in executive separation costs . the compensation committee also revised our short-term incentive plan and implemented a long-term incentive plan . these changes added approximately $ 0.7 million in costs to 2014 and we expect about $ 0.5 million of incremental quarterly run rate going forward . occupancy . occupancy expenses increased $ 3.8 million , or 32.5 % , to $ 15.4 million in 2014 from $ 11.6 million in 2013. the increase in occupancy expenses is the result of 36 branches opened in 2014 , telecommunications upgrades , and increased data processing needs . additionally , we frequently experience increases in rent as we renew existing leases . marketing . marketing expenses increased $ 2.4 million , or 59.0 % , to $ 6.3 million in 2014 from $ 4.0 million in 2013. the increase was due to the increases in the volume of our mail campaigns , invitations to apply and pre-qualified offers to support our 36 new branches and grow our loan portfolio . 58 other expenses . other expenses increased $ 4.1 million , or 26.3 % , to $ 19.6 million in 2014 from $ 15.6 million in 2013. the increase was primarily due to $ 1.8 million of non-operating expenses related to the implementation of a new loan management system , the addition of 36 new branches , and other legal , compliance and human resources consulting costs associated with being a growing public company . the increase was offset by prior year non-operating expenses of $ 2.0 million related to director compensation and the secondary offerings . interest expense . interest expense on the senior revolving credit facility and other debt increased $ 803,000 , or 5.7 % , to $ 14.9 million in 2014 from $ 14.1 million in 2013. this increase was due primarily to the increase in the average balance of our senior revolving credit facility . the average cost of our senior revolving credit facility decreased by 3 basis points from 4.51 % for the year ended december 31 , 2013 to 4.48 % for the year ended december 31 , 2014. the difference was due primarily to the mix between our libor-based

