these include , the provision and allowance for loan losses , revenue recognition for insurance activities , stock based compensation , derivative financial instruments , goodwill 24 and intangible assets and investment securities other-than-temporary impairment evaluation . these discussions , analysis and disclosures identify and address key variables and other qualitative and quantitative factors that are necessary for an understanding and evaluation of the company and its results of operations . allowance for loan losses the provision for loan losses charged to operating expense reflects the amount deemed appropriate by management to provide for known and inherent losses in the existing loan portfolio . management 's judgment is based on the evaluation of individual loans past experience , the assessment of current economic conditions , and other relevant factors . loan losses are charged directly against the allowance for loan losses and recoveries on previously charged-off loans are added to the allowance . the allowance for loan losses has been established based on certain impaired loans where it is recognized that the cash flows are discounted or where the fair value of the collateral is lower than the carrying value of the loan . the company has also established an allowance on classified loans which are not impaired but are included in categories such as `` doubtful `` , `` substandard `` and `` special mention `` . though being classified to one of these categories does not necessarily mean that the loan is impaired , it does indicate that the loan has identified weaknesses that increase its credit risk of loss . the company has also established a general allowance on non-classified and non-impaired loans to recognize the probable losses that are associated with lending in general , though not due to a specific problem loan . management uses significant estimates to determine the allowance for loan losses . consideration is given to a variety of factors in establishing these estimates including current economic conditions , diversification of the loan portfolio , delinquency statistics , borrowers ' perceived financial and managerial strengths , the adequacy of underlying collateral , if collateral dependent , or present value of future cash flows , and other relevant factors . since the sufficiency of the allowance for loan losses is dependent , to a great extent , on conditions that may be beyond our control , it is possible that management 's estimates of the allowance for loan losses and actual results could differ in the near term . although we believe that we use the best information available to establish the allowance for loan losses , future additions to the allowance may be necessary if certain future events occur that may cause actual results to differ from the assumptions used in making the evaluation . for example , a downturn in the local economy could cause increases in non-performing loans . additionally , a decline in real estate values could cause some of our loans to become inadequately collateralized . in either case , this may require us to increase our provisions for loan losses , which would negatively impact earnings . additionally , a large loss could deplete the allowance and require increased provisions to replenish the allowance , which would negatively impact earnings . in addition , regulatory authorities , as an integral part of their examination , periodically review the allowance for loan losses . they may require additions to the allowance for loan losses based upon their judgments about information available to them at the time of examination . future increases to our allowance for loan losses , whether due to unexpected changes in economic conditions or otherwise , could adversely affect our future results of operations . revenue recognition for insurance activities insurance revenues are derived from commissions and fees . commission revenues , as well as the related premiums receivable and payable to insurance companies , are recognized the later of the effective date of the insurance policy or the date the client is billed , net of an allowance for estimated policy cancellations . the reserve for policy cancellations is periodically evaluated and adjusted as necessary . commission revenues related to installment premiums are recognized as billed . commissions on premiums billed directly by insurance companies are generally recognized as income when received . contingent commissions from insurance companies are generally recognized as revenue when the data necessary to reasonably estimate such amounts is obtained . a contingent commission is a commission paid by an insurance company that is based on the overall profit and or volume of the business placed with the insurance company . fee income is recognized as services are rendered . 25 stock-based compensation prior to 2006 , the company accounted for stock-based compensation in accordance with accounting principals board opinion ( `` apb `` ) no . 25 , as permitted by fasb asc 718. under apb no . 25 , no compensation expense was recognized in the statement of operations related to any option granted under the company 's stock option plans . fasb accounting standards codification ( `` asc `` ) 718 , `` share-based payment `` addresses the accounting for share-based payment transactions subsequent to 2006 in which an enterprise receives employee services in exchange for ( a ) equity instruments of the enterprise or ( b ) liabilities that are based on the fair value of the enterprise 's equity instruments or that may be settled by the issuance of such equity instruments . fasb asc 718 requires an entity to recognize the grant-date fair-value of stock options and its other equity-based compensation issued to the employees in the income statement . the revised statement generally requires that an entity account for those transactions using the fair-value-based method , and eliminates the intrinsic value method of accounting in apb opinion no . 25 . `` accounting for stock issued to employees , `` which was permitted under fasb asc 718 , as originally issued . story_separator_special_tag the decision of whether impairment exists is a matter of judgment that should reflect the investor 's view of fhlb pittsburgh 's long-term performance , which includes factors such as its operating performance , the severity and duration of declines in the market value of its net assets related to its capital stock amount , its commitment to make payments required by law or regulation and the level of such payments in relation to its operating performance , the impact of legislation and regulatory changes on fhlb pittsburgh , and accordingly , on the members of fhlb pittsburgh and its liquidity and funding position . after evaluating all of these considerations , the company believes the par value of its shares will be recovered . future evaluations of the above mentioned factors could result in the company recognizing an impairment charge . results of operations net loss available to common shareholders for 2009 was $ 1,042,000 or ( $ 0.18 ) per share diluted compared to net income available to common shareholders of $ 565,000 or $ 0.10 per share diluted for 2008 and net income available to common shareholders of $ 7.5 million or $ 1.31 per share diluted for 2007. these changes are a result of preferred stock dividends and discount accretion , increased provision for loan losses , decreased investment securities losses and by changes in other income each year , net of changes in other expenses . details regarding changes in net income and diluted earnings per share follows . return on average assets was 0.05 % for 2009 , 0.05 % for 2008 and 0.70 % for 2007. return on average shareholders ' equity was 0.51 % for 2009 , 0.54 % for 2008 , and 7.15 % for 2007. included in the operating results for the twelve months ended december 31 , 2009 was a pre-tax loss of $ 2.5 million , or $ 1.6 million after-tax , relating to other-than-temporary impairment ( `` otti `` ) in the company 's available for sale investment portfolio . included in the operating results for the twelve months ended december 31 , 2008 were realized losses of approximately $ 7.3 million , or $ 4.8 million after-tax , relating to the company 's perpetual preferred stock associated with the federal takeover of fannie mae and freddie mac . 30 net interest income net interest income is a primary source of revenue for the company . this income results from the difference between the interest and fees earned on loans and investments and the interest paid on deposits to customers and other non-deposit sources of funds , such as repurchase agreements and borrowings from the federal home loan bank and other correspondent banks . net interest margin is the difference between the gross ( tax-effected ) yield on earning assets and the cost of interest bearing funds as a percentage of earning assets . all discussion of net interest margin is on a fully taxable equivalent basis ( `` fte `` ) . both fte net interest income and fte net interest margin are influenced by the frequency , magnitude and direction of interest rate changes and by product concentrations and volumes of earning assets and funding sources . average balances , rates and net yield the following table sets forth the average daily balances of major categories of interest earning assets and interest bearing liabilities , the average rate paid thereon , and the net interest margin for each of the periods indicated . replace_table_token_6_th ( 1 ) interest income and rates on loans and investment securities are reported on a tax-equivalent basis using a tax rate of 34 % . ( 2 ) held for sale and non-accrual loans have been included in average loan balances . fte net interest income increased to $ 37.2 million , or 1.1 % , for the year ended december 31 , 2009 , compared to $ 36.7 million for 2008. the increase in fte interest income during 2009 was primarily the result of an increase in average earning assets , due mainly to strong commercial loan growth and an increase in available for sale investment security yields . average loans increased by $ 39.8 million , or 4.6 % , from 2008 to 2009. management attributes this increase in organic commercial loan growth to a well established market in the reading area and continued penetration into the philadelphia market through successful marketing initiatives . average available for sale investment securities increased by $ 39.3 million , or 19.4 % , from 2008 to 2009. the increase in fte interest income during 2009 was also the result of a decrease in rates on interest bearing liabilities , particularly time deposits , which more than offset the reduction in the rate earned on interest earning assets . time 31 deposit balances increased by $ 109.4 million , or 31.2 % , from 2008 to 2009. the decrease in both long and short-term borrowing interest rates also contributed to the decrease in interest expense on interest bearing liabilities . fte net interest income increased to $ 36.7 million or 6.7 % for the year ended december 31 , 2008 , compared to $ 34.4 million for 2007. the increase fte interest income during 2008 was primarily the result of an increase in average earning assets , due mainly to strong commercial loan growth and an increase in available for sale security investment yields as a result of the $ 64.1 million balance sheet restructuring in early 2007. average loans increased by $ 67.8 million or 8.6 % from 2007 to 2008. management attributes the increase in organic commercial loan growth to a well established market in the reading area and continued penetration into the philadelphia market through successful marketing initiatives . interest expense decreased during 2009 along with an increase in the overall growth in funding sources . the overall cost of funds decreased from 3.23 % in 2008 to 2.67

liquidity and funds management liquidity management ensures that adequate funds will be available to meet anticipated and unanticipated deposit withdrawals , debt servicing payments , investment commitments , commercial and consumer loan demand and ongoing operating expenses . funding sources include principal repayments on loans and investment securities , sales of loans , growth in core deposits , short and long-term borrowings and repurchase agreements . regular loan payments are typically a dependable source of funds , while the sale of loans and investment securities , deposit flows , and loan prepayments are significantly influenced by general economic conditions and level of interest rates . in 2009 , the significant increase in impaired loans lessened the dependability of regular loan payments . at december 31 , 2009 , the company maintained $ 27.4 million in cash and cash equivalents primarily consisting of cash and due from banks . in addition , the company had $ 268.0 million in available for sale securities and $ 3.0 million in held to maturity securities . cash and investment securities totaled $ 298.4 million which represented 22.8 % of total assets at december 31 , 2009 compared to 20.3 % at december 31 , 2008. the company considers its primary source of liquidity to be its core deposit base , which includes non-interest-bearing and interest-bearing demand deposits , savings , and time deposits under $ 100,000. this funding source has grown steadily over the years through organic growth and acquisitions and consists of deposits from customers throughout the financial center network . the company will continue to promote the growth of deposits through its financial center offices . at december 31 , 2009 , a portion of the company 's assets were funded by core deposits acquired within its market area and by the company 's equity . these two components provide a substantial and stable source of funds . 46 off-balance sheet arrangements the company 's financial statements do not reflect various off-balance sheet arrangements that are made in the normal course of business , which may involve some liquidity risk . these commitments consist mainly of unfunded loans and letters of credit made under the same standards as on-balance sheet instruments .


 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 funds management liquidity management ensures that adequate funds will be available to meet anticipated and unanticipated deposit withdrawals , debt servicing payments , investment commitments , commercial and consumer loan demand and ongoing operating expenses . funding sources include principal repayments on loans and investment securities , sales of loans , growth in core deposits , short and long-term borrowings and repurchase agreements . regular loan payments are typically a dependable source of funds , while the sale of loans and investment securities , deposit flows , and loan prepayments are significantly influenced by general economic conditions and level of interest rates . in 2009 , the significant increase in impaired loans lessened the dependability of regular loan payments . at december 31 , 2009 , the company maintained $ 27.4 million in cash and cash equivalents primarily consisting of cash and due from banks . in addition , the company had $ 268.0 million in available for sale securities and $ 3.0 million in held to maturity securities . cash and investment securities totaled $ 298.4 million which represented 22.8 % of total assets at december 31 , 2009 compared to 20.3 % at december 31 , 2008. the company considers its primary source of liquidity to be its core deposit base , which includes non-interest-bearing and interest-bearing demand deposits , savings , and time deposits under $ 100,000. this funding source has grown steadily over the years through organic growth and acquisitions and consists of deposits from customers throughout the financial center network . the company will continue to promote the growth of deposits through its financial center offices . at december 31 , 2009 , a portion of the company 's assets were funded by core deposits acquired within its market area and by the company 's equity . these two components provide a substantial and stable source of funds . 46 off-balance sheet arrangements the company 's financial statements do not reflect various off-balance sheet arrangements that are made in the normal course of business , which may involve some liquidity risk . these commitments consist mainly of unfunded loans and letters of credit made under the same standards as on-balance sheet instruments .
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 Suspicious Activity Report : these include , the provision and allowance for loan losses , revenue recognition for insurance activities , stock based compensation , derivative financial instruments , goodwill 24 and intangible assets and investment securities other-than-temporary impairment evaluation . these discussions , analysis and disclosures identify and address key variables and other qualitative and quantitative factors that are necessary for an understanding and evaluation of the company and its results of operations . allowance for loan losses the provision for loan losses charged to operating expense reflects the amount deemed appropriate by management to provide for known and inherent losses in the existing loan portfolio . management 's judgment is based on the evaluation of individual loans past experience , the assessment of current economic conditions , and other relevant factors . loan losses are charged directly against the allowance for loan losses and recoveries on previously charged-off loans are added to the allowance . the allowance for loan losses has been established based on certain impaired loans where it is recognized that the cash flows are discounted or where the fair value of the collateral is lower than the carrying value of the loan . the company has also established an allowance on classified loans which are not impaired but are included in categories such as `` doubtful `` , `` substandard `` and `` special mention `` . though being classified to one of these categories does not necessarily mean that the loan is impaired , it does indicate that the loan has identified weaknesses that increase its credit risk of loss . the company has also established a general allowance on non-classified and non-impaired loans to recognize the probable losses that are associated with lending in general , though not due to a specific problem loan . management uses significant estimates to determine the allowance for loan losses . consideration is given to a variety of factors in establishing these estimates including current economic conditions , diversification of the loan portfolio , delinquency statistics , borrowers ' perceived financial and managerial strengths , the adequacy of underlying collateral , if collateral dependent , or present value of future cash flows , and other relevant factors . since the sufficiency of the allowance for loan losses is dependent , to a great extent , on conditions that may be beyond our control , it is possible that management 's estimates of the allowance for loan losses and actual results could differ in the near term . although we believe that we use the best information available to establish the allowance for loan losses , future additions to the allowance may be necessary if certain future events occur that may cause actual results to differ from the assumptions used in making the evaluation . for example , a downturn in the local economy could cause increases in non-performing loans . additionally , a decline in real estate values could cause some of our loans to become inadequately collateralized . in either case , this may require us to increase our provisions for loan losses , which would negatively impact earnings . additionally , a large loss could deplete the allowance and require increased provisions to replenish the allowance , which would negatively impact earnings . in addition , regulatory authorities , as an integral part of their examination , periodically review the allowance for loan losses . they may require additions to the allowance for loan losses based upon their judgments about information available to them at the time of examination . future increases to our allowance for loan losses , whether due to unexpected changes in economic conditions or otherwise , could adversely affect our future results of operations . revenue recognition for insurance activities insurance revenues are derived from commissions and fees . commission revenues , as well as the related premiums receivable and payable to insurance companies , are recognized the later of the effective date of the insurance policy or the date the client is billed , net of an allowance for estimated policy cancellations . the reserve for policy cancellations is periodically evaluated and adjusted as necessary . commission revenues related to installment premiums are recognized as billed . commissions on premiums billed directly by insurance companies are generally recognized as income when received . contingent commissions from insurance companies are generally recognized as revenue when the data necessary to reasonably estimate such amounts is obtained . a contingent commission is a commission paid by an insurance company that is based on the overall profit and or volume of the business placed with the insurance company . fee income is recognized as services are rendered . 25 stock-based compensation prior to 2006 , the company accounted for stock-based compensation in accordance with accounting principals board opinion ( `` apb `` ) no . 25 , as permitted by fasb asc 718. under apb no . 25 , no compensation expense was recognized in the statement of operations related to any option granted under the company 's stock option plans . fasb accounting standards codification ( `` asc `` ) 718 , `` share-based payment `` addresses the accounting for share-based payment transactions subsequent to 2006 in which an enterprise receives employee services in exchange for ( a ) equity instruments of the enterprise or ( b ) liabilities that are based on the fair value of the enterprise 's equity instruments or that may be settled by the issuance of such equity instruments . fasb asc 718 requires an entity to recognize the grant-date fair-value of stock options and its other equity-based compensation issued to the employees in the income statement . the revised statement generally requires that an entity account for those transactions using the fair-value-based method , and eliminates the intrinsic value method of accounting in apb opinion no . 25 . `` accounting for stock issued to employees , `` which was permitted under fasb asc 718 , as originally issued . story_separator_special_tag the decision of whether impairment exists is a matter of judgment that should reflect the investor 's view of fhlb pittsburgh 's long-term performance , which includes factors such as its operating performance , the severity and duration of declines in the market value of its net assets related to its capital stock amount , its commitment to make payments required by law or regulation and the level of such payments in relation to its operating performance , the impact of legislation and regulatory changes on fhlb pittsburgh , and accordingly , on the members of fhlb pittsburgh and its liquidity and funding position . after evaluating all of these considerations , the company believes the par value of its shares will be recovered . future evaluations of the above mentioned factors could result in the company recognizing an impairment charge . results of operations net loss available to common shareholders for 2009 was $ 1,042,000 or ( $ 0.18 ) per share diluted compared to net income available to common shareholders of $ 565,000 or $ 0.10 per share diluted for 2008 and net income available to common shareholders of $ 7.5 million or $ 1.31 per share diluted for 2007. these changes are a result of preferred stock dividends and discount accretion , increased provision for loan losses , decreased investment securities losses and by changes in other income each year , net of changes in other expenses . details regarding changes in net income and diluted earnings per share follows . return on average assets was 0.05 % for 2009 , 0.05 % for 2008 and 0.70 % for 2007. return on average shareholders ' equity was 0.51 % for 2009 , 0.54 % for 2008 , and 7.15 % for 2007. included in the operating results for the twelve months ended december 31 , 2009 was a pre-tax loss of $ 2.5 million , or $ 1.6 million after-tax , relating to other-than-temporary impairment ( `` otti `` ) in the company 's available for sale investment portfolio . included in the operating results for the twelve months ended december 31 , 2008 were realized losses of approximately $ 7.3 million , or $ 4.8 million after-tax , relating to the company 's perpetual preferred stock associated with the federal takeover of fannie mae and freddie mac . 30 net interest income net interest income is a primary source of revenue for the company . this income results from the difference between the interest and fees earned on loans and investments and the interest paid on deposits to customers and other non-deposit sources of funds , such as repurchase agreements and borrowings from the federal home loan bank and other correspondent banks . net interest margin is the difference between the gross ( tax-effected ) yield on earning assets and the cost of interest bearing funds as a percentage of earning assets . all discussion of net interest margin is on a fully taxable equivalent basis ( `` fte `` ) . both fte net interest income and fte net interest margin are influenced by the frequency , magnitude and direction of interest rate changes and by product concentrations and volumes of earning assets and funding sources . average balances , rates and net yield the following table sets forth the average daily balances of major categories of interest earning assets and interest bearing liabilities , the average rate paid thereon , and the net interest margin for each of the periods indicated . replace_table_token_6_th ( 1 ) interest income and rates on loans and investment securities are reported on a tax-equivalent basis using a tax rate of 34 % . ( 2 ) held for sale and non-accrual loans have been included in average loan balances . fte net interest income increased to $ 37.2 million , or 1.1 % , for the year ended december 31 , 2009 , compared to $ 36.7 million for 2008. the increase in fte interest income during 2009 was primarily the result of an increase in average earning assets , due mainly to strong commercial loan growth and an increase in available for sale investment security yields . average loans increased by $ 39.8 million , or 4.6 % , from 2008 to 2009. management attributes this increase in organic commercial loan growth to a well established market in the reading area and continued penetration into the philadelphia market through successful marketing initiatives . average available for sale investment securities increased by $ 39.3 million , or 19.4 % , from 2008 to 2009. the increase in fte interest income during 2009 was also the result of a decrease in rates on interest bearing liabilities , particularly time deposits , which more than offset the reduction in the rate earned on interest earning assets . time 31 deposit balances increased by $ 109.4 million , or 31.2 % , from 2008 to 2009. the decrease in both long and short-term borrowing interest rates also contributed to the decrease in interest expense on interest bearing liabilities . fte net interest income increased to $ 36.7 million or 6.7 % for the year ended december 31 , 2008 , compared to $ 34.4 million for 2007. the increase fte interest income during 2008 was primarily the result of an increase in average earning assets , due mainly to strong commercial loan growth and an increase in available for sale security investment yields as a result of the $ 64.1 million balance sheet restructuring in early 2007. average loans increased by $ 67.8 million or 8.6 % from 2007 to 2008. management attributes the increase in organic commercial loan growth to a well established market in the reading area and continued penetration into the philadelphia market through successful marketing initiatives . interest expense decreased during 2009 along with an increase in the overall growth in funding sources . the overall cost of funds decreased from 3.23 % in 2008 to 2.67

