the company recognized a contingent consideration liability at its fair value of $ 338,000. the contingent consideration arrangement requires the company to pay additional cash consideration to mde 's former stakeholders four years after the closing of the acquisition if certain revenue targets are met . the fair value of the contingent consideration was estimated using a discounted cash flow model . the acquisition agreement limits the total payment to a maximum of $ 12.5 million , to be determined based on actual future results . on october 31 , 2014 , beacon acquired the fiduciary account relationships of suffolk county national bank , a subsidiary of suffolk bancorp , in suffolk county , new york . on may 30 , 2014 , the company completed its acquisition of team capital bank ( `` team capital `` ) , which after purchase accounting adjustments added $ 964.0 million to total assets , $ 631.2 million to loans , and $ 769.9 million to deposits . total consideration paid for team capital was $ 115.1 million : $ 31.6 million in cash and 4.9 million shares of common stock valued at $ 83.5 million on the acquisition date . team capital was merged with and into the company 's subsidiary , the provident bank as of the close of business on the date of acquisition . the merger added twelve branches to the provident bank branch network , with five branches in pennsylvania and seven in new jersey . critical accounting policies the company considers certain accounting policies to be critically important to the fair presentation of its financial condition and results of operations . these policies require management to make complex judgments on matters which by their nature have elements of uncertainty . the sensitivity of the company 's consolidated financial statements to these critical accounting policies , and the assumptions and estimates applied , could have a significant impact on its financial condition and results of operations . these assumptions , estimates and judgments made by management can be influenced by a number of factors , including the general economic environment . the company has identified the following as critical accounting policies : adequacy of the allowance for loan losses goodwill valuation and analysis for impairment valuation of securities available for sale and impairment analysis valuation of deferred tax assets the calculation of the allowance for loan losses is a critical accounting policy of the company . the allowance for loan losses is a valuation account that reflects management 's evaluation of the probable losses in the loan portfolio . the company maintains the allowance for loan losses through provisions for loan losses that are charged to income . charge-offs against the allowance for loan losses are taken on loans where management determines that the collection of loan principal is unlikely . recoveries made on loans that have been charged-off are credited to the allowance for loan losses . the company 's evaluation of the adequacy of the allowance for loan losses includes a review of all loans on which the collectibility of principal may not be reasonably assured . for residential mortgage and consumer loans , this is determined primarily by delinquency and collateral values . for commercial real estate and commercial loans , an extensive review of financial performance , payment history and collateral values is conducted on a quarterly basis . as part of the evaluation of the adequacy of the allowance for loan losses , each quarter management prepares an analysis that categorizes the entire loan portfolio by certain risk characteristics such as loan type ( residential mortgage , commercial mortgage , construction , commercial , etc . ) and loan risk rating . when assigning a risk rating to a loan , management utilizes a nine point internal risk rating system . loans deemed to be “ acceptable quality ” are rated 1 through 4 , with a rating of 1 established for loans with minimal risk . loans deemed to be of “ questionable quality ” are rated 5 ( watch ) or 6 ( special mention ) . loans with adverse classifications ( substandard , doubtful or loss ) are rated 7 , 8 or 9 , respectively . commercial mortgage , commercial and construction loans are rated individually and each lending officer is responsible for risk rating loans in their portfolio . these risk ratings are then reviewed by the department manager and or the chief lending officer and the credit administration department . the risk ratings are also confirmed through periodic loan review examinations , which are currently performed by an independent third party , and periodically by the credit committee in the credit renewal or approval . in addition , the bank requires an annual review be performed for commercial and commercial real estate loans above certain dollar thresholds , depending on loan type , to help determine the appropriate risk rating . 42 management estimates the amount of loan losses for groups of loans by applying quantitative loss factors to loan segments at the risk rating level , and applying qualitative adjustments to each loan segment at the portfolio level . quantitative loss factors give consideration to historical loss experience by loan type based upon an appropriate look back period and adjusted for a loss emergence period . quantitative loss factors are evaluated at least annually . qualitative adjustments give consideration to other qualitative or environmental factors such as trends and levels of delinquencies , impaired loans , charge-offs , recoveries and loan volumes , as well as national and local economic trends and conditions . qualitative adjustments reflect risks in the loan portfolio not captured by the quantitative loss factors and , as such , are evaluated from a risk level perspective relative to the risk levels present over the look back period . qualitative adjustments are evaluated at least quarterly . story_separator_special_tag million of residential properties , $ 5.1 million of commercial real estate and $ 274,000 of marine vessels at december 31 , 2015 . non-performing assets totaled $ 55.1 million , or 0.62 % of total assets at december 31 , 2015 , compared to $ 59.0 million , or 0.69 % of total assets , at december 31 , 2014 . if the non-accrual loans had performed in accordance with their original terms , interest income would have increased by $ 1.2 million during the year ended december 31 , 2015 . the amount of cash basis interest income that was recognized on impaired loans during the years ended december 31 , 2015 and 2014 was not material . total deposits increased $ 131.5 million , or 2.3 % , during the year ended december 31 , 2015 to $ 5.92 billion from $ 5.79 billion at december 31 , 2014 . core deposits , which consist of savings and demand deposit accounts , increased $ 217.4 million , or 4.4 % , to $ 5.18 billion at december 31 , 2015 , while time deposits decreased $ 86.0 million to $ 739.7 million at december 31 , 2015. within the core deposit category , non-interest bearing demand deposits and interest bearing demand deposits increased 47 $ 139.9 million and $ 115.5 million , respectively , to $ 1.19 billion and $ 1.54 billion , respectively , at december 31 , 2015 . core deposits represented 87.5 % of total deposits at december 31 , 2015 , compared to 85.7 % at december 31 , 2014 . borrowed funds increased $ 197.8 million , or 13.1 % , during the year ended december 31 , 2015 , to $ 1.71 billion . borrowed funds represented 19.2 % of total assets at december 31 , 2015 , an increase from 17.7 % at december 31 , 2014 . total stockholders ' equity increased $ 52.0 million , or 4.5 % , to $ 1.20 billion at december 31 , 2015 , from $ 1.14 billion at december 31 , 2014 . this increase resulted from net income of $ 83.7 million , the allocation of shares to stock-based compensation plans of $ 9.4 million , exercised stock options of $ 3.2 million , and the reissuance of shares for the dividend reinvestment program of $ 1.4 million , partially offset by cash dividends paid to stockholders of $ 41.3 million , other comprehensive loss of $ 2.6 million and common stock repurchases of $ 2.0 million . common stock repurchases for the year ended december 31 , 2015 totaled 108,589 shares at an average cost of $ 18.32 per share . at december 31 , 2015 , 3.3 million shares remained eligible for repurchase under the current authorization . comparison of operating results for the years ended december 31 , 2015 and december 31 , 2014 general . net income for the year ended december 31 , 2015 was $ 83.7 million , compared to $ 73.6 million for the year ended december 31 , 2014 . basic and diluted earnings per share were $ 1.33 for the year ended december 31 , 2015 , compared to basic and diluted earnings per share of $ 1.22 for 2014 . net income for the year ended december 31 , 2015 was favorably impacted by year-over-year growth in both average loans outstanding and average non-interest bearing deposits , growth in non-interest income and improved asset quality . these factors helped offset the unfavorable impact of compression in the net interest margin . net interest income . net interest income increased $ 11.0 million to $ 249.9 million for 2015 , from $ 238.9 million for 2014 . the average interest rate spread declined 11 basis point to 3.07 % for 2015 , from 3.18 % for 2014 . the net interest margin decreased 10 basis point to 3.20 % for 2015 , compared to 3.30 % for 2014 . for the year ended december 31 , 2015 , net interest income was favorably impacted by the growth in average loans outstanding and average non-interest bearing demand deposits , mitigating the effects of compression in the net interest margin . interest income increased $ 12.4 million , or 4.4 % , to $ 291.8 million for 2015 , compared to $ 279.4 million for 2014 . the increase in interest income was attributable to an increase in average earning asset balances , partially offset by a decrease in the yield on average interest-earning assets . average interest-earning assets increased $ 577.4 million , or 8.0 % , to $ 7.82 billion for 2015 , compared to $ 7.24 billion for 2014 . the average outstanding loan balances increased $ 615.8 million , or 11.0 % , to $ 6.22 billion for 2015 from $ 5.60 billion for 2014 , the average balance of securities available for sale decreased $ 102.2 million , or 9.0 % , to $ 1.03 billion for 2015 , compared to $ 1.13 billion for 2014 , and the average balance of investment securities held to maturity increased $ 53.3 million , or 12.7 % , to $ 473.4 million for 2015 , compared to $ 420.2 million for 2014 . the yield on interest-earning assets decreased 13 basis points to 3.73 % for 2015 , from 3.86 % for 2014 , with a reduction in the weighted average yield on total loans and investment securities , partially offset by an increase in the weighted average yield on the federal home loan bank stock . interest expense increased $ 1.4 million , or 3.5 % , to $ 41.9 million for 2015 , from $ 40.5 million for 2014 . the increase in interest expense was attributable to an increase in average borrowings , which funded a portion of the growth in average interest-earning assets , partially offset by a shift in the funding composition to lower-costing core deposits

liquidity and capital resources liquidity refers to the company 's ability to generate adequate amounts of cash to meet financial obligations to its depositors , to fund loans and securities purchases , deposit outflows and operating expenses . sources of funds include scheduled amortization of loans , loan prepayments , scheduled maturities of investments , cash flows from mortgage-backed securities and the ability to borrow funds from the fhlb of new york and approved broker dealers . cash flows from loan payments and maturing investment securities are a fairly predictable source of funds . changes in interest rates , local economic conditions and the competitive marketplace can influence loan prepayments , prepayments on mortgage-backed securities and deposit flows . for each of the years ended december 31 , 2015 and 2014 , loan repayments totaled $ 2.28 billion and $ 1.65 billion , respectively . one- to four-family residential loans , consumer loans , commercial real estate loans , multi-family loans and commercial and small business loans are the primary investments of the company . purchasing securities for the investment portfolio is a secondary use of funds and the investment portfolio is structured to complement and facilitate the company 's lending activities and ensure adequate liquidity .


 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 refers to the company 's ability to generate adequate amounts of cash to meet financial obligations to its depositors , to fund loans and securities purchases , deposit outflows and operating expenses . sources of funds include scheduled amortization of loans , loan prepayments , scheduled maturities of investments , cash flows from mortgage-backed securities and the ability to borrow funds from the fhlb of new york and approved broker dealers . cash flows from loan payments and maturing investment securities are a fairly predictable source of funds . changes in interest rates , local economic conditions and the competitive marketplace can influence loan prepayments , prepayments on mortgage-backed securities and deposit flows . for each of the years ended december 31 , 2015 and 2014 , loan repayments totaled $ 2.28 billion and $ 1.65 billion , respectively . one- to four-family residential loans , consumer loans , commercial real estate loans , multi-family loans and commercial and small business loans are the primary investments of the company . purchasing securities for the investment portfolio is a secondary use of funds and the investment portfolio is structured to complement and facilitate the company 's lending activities and ensure adequate liquidity .
```    
 Suspicious Activity Report : the company recognized a contingent consideration liability at its fair value of $ 338,000. the contingent consideration arrangement requires the company to pay additional cash consideration to mde 's former stakeholders four years after the closing of the acquisition if certain revenue targets are met . the fair value of the contingent consideration was estimated using a discounted cash flow model . the acquisition agreement limits the total payment to a maximum of $ 12.5 million , to be determined based on actual future results . on october 31 , 2014 , beacon acquired the fiduciary account relationships of suffolk county national bank , a subsidiary of suffolk bancorp , in suffolk county , new york . on may 30 , 2014 , the company completed its acquisition of team capital bank ( `` team capital `` ) , which after purchase accounting adjustments added $ 964.0 million to total assets , $ 631.2 million to loans , and $ 769.9 million to deposits . total consideration paid for team capital was $ 115.1 million : $ 31.6 million in cash and 4.9 million shares of common stock valued at $ 83.5 million on the acquisition date . team capital was merged with and into the company 's subsidiary , the provident bank as of the close of business on the date of acquisition . the merger added twelve branches to the provident bank branch network , with five branches in pennsylvania and seven in new jersey . critical accounting policies the company considers certain accounting policies to be critically important to the fair presentation of its financial condition and results of operations . these policies require management to make complex judgments on matters which by their nature have elements of uncertainty . the sensitivity of the company 's consolidated financial statements to these critical accounting policies , and the assumptions and estimates applied , could have a significant impact on its financial condition and results of operations . these assumptions , estimates and judgments made by management can be influenced by a number of factors , including the general economic environment . the company has identified the following as critical accounting policies : adequacy of the allowance for loan losses goodwill valuation and analysis for impairment valuation of securities available for sale and impairment analysis valuation of deferred tax assets the calculation of the allowance for loan losses is a critical accounting policy of the company . the allowance for loan losses is a valuation account that reflects management 's evaluation of the probable losses in the loan portfolio . the company maintains the allowance for loan losses through provisions for loan losses that are charged to income . charge-offs against the allowance for loan losses are taken on loans where management determines that the collection of loan principal is unlikely . recoveries made on loans that have been charged-off are credited to the allowance for loan losses . the company 's evaluation of the adequacy of the allowance for loan losses includes a review of all loans on which the collectibility of principal may not be reasonably assured . for residential mortgage and consumer loans , this is determined primarily by delinquency and collateral values . for commercial real estate and commercial loans , an extensive review of financial performance , payment history and collateral values is conducted on a quarterly basis . as part of the evaluation of the adequacy of the allowance for loan losses , each quarter management prepares an analysis that categorizes the entire loan portfolio by certain risk characteristics such as loan type ( residential mortgage , commercial mortgage , construction , commercial , etc . ) and loan risk rating . when assigning a risk rating to a loan , management utilizes a nine point internal risk rating system . loans deemed to be “ acceptable quality ” are rated 1 through 4 , with a rating of 1 established for loans with minimal risk . loans deemed to be of “ questionable quality ” are rated 5 ( watch ) or 6 ( special mention ) . loans with adverse classifications ( substandard , doubtful or loss ) are rated 7 , 8 or 9 , respectively . commercial mortgage , commercial and construction loans are rated individually and each lending officer is responsible for risk rating loans in their portfolio . these risk ratings are then reviewed by the department manager and or the chief lending officer and the credit administration department . the risk ratings are also confirmed through periodic loan review examinations , which are currently performed by an independent third party , and periodically by the credit committee in the credit renewal or approval . in addition , the bank requires an annual review be performed for commercial and commercial real estate loans above certain dollar thresholds , depending on loan type , to help determine the appropriate risk rating . 42 management estimates the amount of loan losses for groups of loans by applying quantitative loss factors to loan segments at the risk rating level , and applying qualitative adjustments to each loan segment at the portfolio level . quantitative loss factors give consideration to historical loss experience by loan type based upon an appropriate look back period and adjusted for a loss emergence period . quantitative loss factors are evaluated at least annually . qualitative adjustments give consideration to other qualitative or environmental factors such as trends and levels of delinquencies , impaired loans , charge-offs , recoveries and loan volumes , as well as national and local economic trends and conditions . qualitative adjustments reflect risks in the loan portfolio not captured by the quantitative loss factors and , as such , are evaluated from a risk level perspective relative to the risk levels present over the look back period . qualitative adjustments are evaluated at least quarterly . story_separator_special_tag million of residential properties , $ 5.1 million of commercial real estate and $ 274,000 of marine vessels at december 31 , 2015 . non-performing assets totaled $ 55.1 million , or 0.62 % of total assets at december 31 , 2015 , compared to $ 59.0 million , or 0.69 % of total assets , at december 31 , 2014 . if the non-accrual loans had performed in accordance with their original terms , interest income would have increased by $ 1.2 million during the year ended december 31 , 2015 . the amount of cash basis interest income that was recognized on impaired loans during the years ended december 31 , 2015 and 2014 was not material . total deposits increased $ 131.5 million , or 2.3 % , during the year ended december 31 , 2015 to $ 5.92 billion from $ 5.79 billion at december 31 , 2014 . core deposits , which consist of savings and demand deposit accounts , increased $ 217.4 million , or 4.4 % , to $ 5.18 billion at december 31 , 2015 , while time deposits decreased $ 86.0 million to $ 739.7 million at december 31 , 2015. within the core deposit category , non-interest bearing demand deposits and interest bearing demand deposits increased 47 $ 139.9 million and $ 115.5 million , respectively , to $ 1.19 billion and $ 1.54 billion , respectively , at december 31 , 2015 . core deposits represented 87.5 % of total deposits at december 31 , 2015 , compared to 85.7 % at december 31 , 2014 . borrowed funds increased $ 197.8 million , or 13.1 % , during the year ended december 31 , 2015 , to $ 1.71 billion . borrowed funds represented 19.2 % of total assets at december 31 , 2015 , an increase from 17.7 % at december 31 , 2014 . total stockholders ' equity increased $ 52.0 million , or 4.5 % , to $ 1.20 billion at december 31 , 2015 , from $ 1.14 billion at december 31 , 2014 . this increase resulted from net income of $ 83.7 million , the allocation of shares to stock-based compensation plans of $ 9.4 million , exercised stock options of $ 3.2 million , and the reissuance of shares for the dividend reinvestment program of $ 1.4 million , partially offset by cash dividends paid to stockholders of $ 41.3 million , other comprehensive loss of $ 2.6 million and common stock repurchases of $ 2.0 million . common stock repurchases for the year ended december 31 , 2015 totaled 108,589 shares at an average cost of $ 18.32 per share . at december 31 , 2015 , 3.3 million shares remained eligible for repurchase under the current authorization . comparison of operating results for the years ended december 31 , 2015 and december 31 , 2014 general . net income for the year ended december 31 , 2015 was $ 83.7 million , compared to $ 73.6 million for the year ended december 31 , 2014 . basic and diluted earnings per share were $ 1.33 for the year ended december 31 , 2015 , compared to basic and diluted earnings per share of $ 1.22 for 2014 . net income for the year ended december 31 , 2015 was favorably impacted by year-over-year growth in both average loans outstanding and average non-interest bearing deposits , growth in non-interest income and improved asset quality . these factors helped offset the unfavorable impact of compression in the net interest margin . net interest income . net interest income increased $ 11.0 million to $ 249.9 million for 2015 , from $ 238.9 million for 2014 . the average interest rate spread declined 11 basis point to 3.07 % for 2015 , from 3.18 % for 2014 . the net interest margin decreased 10 basis point to 3.20 % for 2015 , compared to 3.30 % for 2014 . for the year ended december 31 , 2015 , net interest income was favorably impacted by the growth in average loans outstanding and average non-interest bearing demand deposits , mitigating the effects of compression in the net interest margin . interest income increased $ 12.4 million , or 4.4 % , to $ 291.8 million for 2015 , compared to $ 279.4 million for 2014 . the increase in interest income was attributable to an increase in average earning asset balances , partially offset by a decrease in the yield on average interest-earning assets . average interest-earning assets increased $ 577.4 million , or 8.0 % , to $ 7.82 billion for 2015 , compared to $ 7.24 billion for 2014 . the average outstanding loan balances increased $ 615.8 million , or 11.0 % , to $ 6.22 billion for 2015 from $ 5.60 billion for 2014 , the average balance of securities available for sale decreased $ 102.2 million , or 9.0 % , to $ 1.03 billion for 2015 , compared to $ 1.13 billion for 2014 , and the average balance of investment securities held to maturity increased $ 53.3 million , or 12.7 % , to $ 473.4 million for 2015 , compared to $ 420.2 million for 2014 . the yield on interest-earning assets decreased 13 basis points to 3.73 % for 2015 , from 3.86 % for 2014 , with a reduction in the weighted average yield on total loans and investment securities , partially offset by an increase in the weighted average yield on the federal home loan bank stock . interest expense increased $ 1.4 million , or 3.5 % , to $ 41.9 million for 2015 , from $ 40.5 million for 2014 . the increase in interest expense was attributable to an increase in average borrowings , which funded a portion of the growth in average interest-earning assets , partially offset by a shift in the funding composition to lower-costing core deposits

