as of december 31 , 2020 , we had mortgage servicing rights , net of $ 10.11 million compared to $ 8.74 million as of december 31 , 2019. gain on sale of loans also provides significant noninterest income in periods of high mortgage loan origination volumes . such income will be adversely affected in periods of lower mortgage activity . 21 fee income is also supplemented with fees generated from deposit accounts . the bank has a high percentage of non-maturity deposits , such as checking accounts and savings accounts , which allows management flexibility in managing its spread . non-maturity deposits and certificates of deposit do not automatically reprice as interest rates rise . management continues to focus on improving the bank 's earnings . management believes the bank needs to continue to concentrate on increasing net interest margin , other areas of fee income and control operating expenses to achieve earnings growth going forward . management 's strategy of growing the loan portfolio and deposit base is expected to help achieve these goals as follows : loans typically earn higher rates of return than investments ; a larger deposit base should yield higher fee income ; increasing the asset base will reduce the relative impact of fixed operating costs . the biggest challenge to the strategy is funding the growth of the statement of financial condition in an efficient manner . though deposit growth has been steady , it may become more difficult to maintain due to significant competition and possible reduced customer demand for deposits as customers may shift into other asset classes . other than short term residential construction loans , we do not offer “ interest only ” mortgage loans on residential 1-4 family properties ( where the borrower pays interest but no principal for an initial period , after which the loan converts to a fully amortizing loan ) . we also do not offer loans that provide for negative amortization of principal , such as “ option arm ” loans , where the borrower can pay less than the interest owed on their loan , resulting in an increased principal balance during the life of the loan . we do not offer “ subprime loans ” ( loans that generally target borrowers with weakened credit histories typically characterized by payment delinquencies , previous charge-offs , judgments , bankruptcies , or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burden ratios ) or alt-a loans ( traditionally defined as loans having less than full documentation ) . the level and movement of interest rates impacts the bank 's earnings as well . the federal open market committee decreased the federal funds target rate during the year ended december 31 , 2019 from 2.50 % to 1.75 % . the rate decreased from 1.75 % to 0.25 % during the year ended december 31 , 2020. the rate reductions add continued pressure on loan yields . covid-19 the company 's performance for the year ended december 31 , 2020 was strong due to higher mortgage banking operations , as a result of a historically low interest rate environment and substantial gains from loan sales . however , the company also continues to see the impact of the covid-19 pandemic and its consequences on our montana communities . the bank is focused on supporting our customers , communities and employees while prudently managing risk . the bank is closely monitoring borrowers and businesses serviced and is providing debt service relief for those that have been impacted . on march 27 , 2020 , congress passed the coronavirus aid , relief , and economic security act ( “ cares act ” ) providing economic relief for the country , including the $ 349 billion small business administration ( “ sba ” ) paycheck protection program ( “ ppp ” ) to fund short-term loans for small businesses . in april 2020 , additional funding was approved for the ppp . eagle began taking loan applications from its small business clients immediately after the program was implemented , and as of december 31 , 2020 had helped 764 customers receive $ 45.71 million in sba ppp loans . the bank has processed applications for ppp loan forgiveness for customers , with 195 loans representing over $ 15.00 million now paid in full . the remaining 569 sba ppp loans represent $ 29.58 million . while all industries have and will continue to experience adverse impacts as a result of the covid-19 pandemic , we had exposures in the following impacted industries , as a percentage of loans as of december 31 , 2020 : health and social assistance ( 2.6 % ) , hotels and lodging ( 4.1 % ) , bars and restaurants ( 2.6 % ) , casinos ( 1.2 % ) and nursing homes ( 0.5 % ) . the bank continues to reach out to specific borrowers to assess the risks and understand their needs . the bank has offered multiple accommodation options to its clients , including 90-day deferrals , forbearances and interest only payments . during 2020 , the montana board of investments ( `` mboi `` ) began offering 12-months of interest payment assistance to qualified borrowers . as of december 31 , 2020 , remaining loan modifications for 40 nonresidential borrowers represented $ 29.00 million in loans or 3.5 % of total loans , compared to 66 borrowers representing $ 55.21 million or 6.5 % of loans as of september 30 , 2020. the bank qualified 32 borrowers for the mboi program representing $ 26.62 million in loans , which are included in the fourth quarter modifications . story_separator_special_tag conversely , financial instruments rarely traded or not quoted will generally have little or no pricing observability and a higher degree of judgment utilized in measuring fair value . pricing observability is impacted by a number of factors , including the type of financial instrument , whether the financial instrument is new to the market and not yet established and the characteristics specific to the transaction . the objective of a fair value measurement is to estimate the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions ( that is , an exit price at the measurement date from the perspective of a market participant that holds the asset or owes the liability ) . deferred income taxes we use the asset and liability method of accounting for income taxes as prescribed in fasb asc topic 740 income taxes . using this method , deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . if current available information raises doubt as to the realization of the deferred tax assets , a valuation allowance is established . deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled . we exercise significant judgment in evaluating the amount and timing of recognition of the resulting tax liabilities and assets . these judgments require us to make projections of future taxable income . the judgments and estimates we make in determining our deferred tax assets , which are inherently subjective , are reviewed on an ongoing basis as regulatory and business factors change . a reduction in estimated future taxable income could require us to record a valuation allowance . changes in levels of valuation allowances could result in increased income tax expense , and could negatively affect earnings . financial condition december 31 , 2020 compared to december 31 , 2019 total assets were $ 1.26 billion at december 31 , 2020 , an increase of $ 203.37 million , or 19.3 % from $ 1.05 billion at december 31 , 2019. there were several factors impacting this increase . loans receivable , net increased by $ 58.86 million from december 31 , 2019. in addition , total cash and cash equivalents increased by $ 44.88 million from december 31 , 2019 and has been impacted by ppp funds deposited by borrowers . securities available-for-sale also increased by $ 36.07 million from $ 126.88 million at december 31 , 2019. mortgage loans held-for-sale increased $ 29.01 million due to robust residential mortgage volumes during 2020. total liabilities were $ 1.10 billion at december 31 , 2020 , an increase of $ 172.10 million , or 18.5 % , from $ 932.60 million at december 31 , 2019. the increase was largely due to an increase in deposits partially offset by a reduction in fhlb advances and borrowings . total deposits increased by $ 224.09 million from december 31 , 2019. however , fhlb advances and other borrowings decreased $ 71.28 million from december 31 , 2019. total shareholders ' equity increased by $ 31.28 million from december 31 , 2019. financial condition details investment activities we maintain a portfolio of investment securities , classified as either available-for-sale or held-to-maturity to enhance total return on investments . our investment securities generally include u.s. government and agency obligations , u.s. treasury obligations , small business administration pools , municipal securities , corporate obligations , mortgage-backed securities ( “ mbss ” ) , collateralized mortgage obligations ( “ cmos ” ) and asset-backed securities ( “ abss ” ) , all with varying characteristics as to rate , maturity and call provisions . there were no held-to-maturity investment securities included in the investment portfolio at december 31 , 2020 or 2019. all investment securities included in the investment portfolio are available-for-sale . eagle also has interest-bearing deposits in other banks and federal funds sold , as well as , stock in fhlb and frb . fhlb stock was $ 2.06 million and $ 4.68 million at december 31 , 2020 and 2019 , respectively . frb stock was $ 2.97 million and $ 2.53 million at december 31 , 2020 and 2019 , respectively . 25 the following table summarizes investment activities : replace_table_token_3_th securities available-for-sale were $ 162.95 million at december 31 , 2020 , an increase of $ 36.07 million , or 28.4 % , from $ 126.88 million at december 31 , 2019. securities increased during the period due to the whc acquisition , which included acquired securities of $ 43.71 million . excluding securities acquired , securities decreased by $ 7.64 million . the decrease was due to sales and maturities of securities , largely offset by purchases during the period . the following table sets forth information regarding fair values , weighted average yields and maturities of investments . the yields have been computed on a tax equivalent basis . maturities are based on the final contractual payment dates and do not reflect the impact of prepayments or early redemptions that may occur . december 31 , 2020 one year or less one to five years five to ten years after ten years total investment securities fair value weighted average yield fair value weighted average yield fair value weighted average yield fair value weighted average yield fair value approximate market value weighted average yield ( dollars in thousands ) securities available-for-sale : u.s. government obligations $ - 0.00 % $ - 0.00 % $ 1,684 1.62 % $ 561 3.07 % $ 2,245 $ 2,245 1.98 % u.s. treasury obligations - 0.00 % 5,657 2.76 % - 0.00 % - 0.00 % 5,657 5,657 2.76 %

liquidity the bank is required to maintain minimum levels of liquid assets as defined by the montana division of banking and frb regulations . the liquidity requirement is retained for safety and soundness purposes , and that appropriate levels of liquidity will depend upon the types of activities in which the company engages . for internal reporting purposes , the bank uses policy minimums of 1.0 % , and 8.0 % for “ basic surplus ” and “ basic surplus with fhlb ” as internally defined . in general , the “ basic surplus ” is a calculation of the ratio of unencumbered short-term assets reduced by estimated percentages of cd maturities and other deposits that may leave the bank in the next 90 days divided by total assets . “ basic surplus with fhlb ” adds to “ basic surplus ” the additional borrowing capacity the bank has with the fhlb of des moines . the bank exceeded those minimum ratios as of december 31 , 2020 and 2019. the bank 's primary sources of funds are deposits , repayment of loans and mortgage-backed securities , maturities of investments , funds provided from operations , advances from the fhlb of des moines and other borrowings . scheduled repayments of loans and mortgage-backed securities and maturities of investment securities are generally predictable . however , other sources of funds , such as deposit flows and loan prepayments , can be greatly influenced by the general level of interest rates , economic conditions and competition . the bank uses liquidity resources principally to fund existing and future loan commitments . it also uses them to fund maturing certificates of deposit , demand deposit withdrawals and to invest in other loans and investments , maintain liquidity , and meet operating expenses . liquidity may be adversely affected by unexpected deposit outflows , higher interest rates paid by competitors , and similar matters . management monitors projected liquidity needs and determines the level desirable based in part on eagle 's commitments to make loans and management 's assessment of eagle 's ability to generate funds .


 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 the bank is required to maintain minimum levels of liquid assets as defined by the montana division of banking and frb regulations . the liquidity requirement is retained for safety and soundness purposes , and that appropriate levels of liquidity will depend upon the types of activities in which the company engages . for internal reporting purposes , the bank uses policy minimums of 1.0 % , and 8.0 % for “ basic surplus ” and “ basic surplus with fhlb ” as internally defined . in general , the “ basic surplus ” is a calculation of the ratio of unencumbered short-term assets reduced by estimated percentages of cd maturities and other deposits that may leave the bank in the next 90 days divided by total assets . “ basic surplus with fhlb ” adds to “ basic surplus ” the additional borrowing capacity the bank has with the fhlb of des moines . the bank exceeded those minimum ratios as of december 31 , 2020 and 2019. the bank 's primary sources of funds are deposits , repayment of loans and mortgage-backed securities , maturities of investments , funds provided from operations , advances from the fhlb of des moines and other borrowings . scheduled repayments of loans and mortgage-backed securities and maturities of investment securities are generally predictable . however , other sources of funds , such as deposit flows and loan prepayments , can be greatly influenced by the general level of interest rates , economic conditions and competition . the bank uses liquidity resources principally to fund existing and future loan commitments . it also uses them to fund maturing certificates of deposit , demand deposit withdrawals and to invest in other loans and investments , maintain liquidity , and meet operating expenses . liquidity may be adversely affected by unexpected deposit outflows , higher interest rates paid by competitors , and similar matters . management monitors projected liquidity needs and determines the level desirable based in part on eagle 's commitments to make loans and management 's assessment of eagle 's ability to generate funds .
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 Suspicious Activity Report : as of december 31 , 2020 , we had mortgage servicing rights , net of $ 10.11 million compared to $ 8.74 million as of december 31 , 2019. gain on sale of loans also provides significant noninterest income in periods of high mortgage loan origination volumes . such income will be adversely affected in periods of lower mortgage activity . 21 fee income is also supplemented with fees generated from deposit accounts . the bank has a high percentage of non-maturity deposits , such as checking accounts and savings accounts , which allows management flexibility in managing its spread . non-maturity deposits and certificates of deposit do not automatically reprice as interest rates rise . management continues to focus on improving the bank 's earnings . management believes the bank needs to continue to concentrate on increasing net interest margin , other areas of fee income and control operating expenses to achieve earnings growth going forward . management 's strategy of growing the loan portfolio and deposit base is expected to help achieve these goals as follows : loans typically earn higher rates of return than investments ; a larger deposit base should yield higher fee income ; increasing the asset base will reduce the relative impact of fixed operating costs . the biggest challenge to the strategy is funding the growth of the statement of financial condition in an efficient manner . though deposit growth has been steady , it may become more difficult to maintain due to significant competition and possible reduced customer demand for deposits as customers may shift into other asset classes . other than short term residential construction loans , we do not offer “ interest only ” mortgage loans on residential 1-4 family properties ( where the borrower pays interest but no principal for an initial period , after which the loan converts to a fully amortizing loan ) . we also do not offer loans that provide for negative amortization of principal , such as “ option arm ” loans , where the borrower can pay less than the interest owed on their loan , resulting in an increased principal balance during the life of the loan . we do not offer “ subprime loans ” ( loans that generally target borrowers with weakened credit histories typically characterized by payment delinquencies , previous charge-offs , judgments , bankruptcies , or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burden ratios ) or alt-a loans ( traditionally defined as loans having less than full documentation ) . the level and movement of interest rates impacts the bank 's earnings as well . the federal open market committee decreased the federal funds target rate during the year ended december 31 , 2019 from 2.50 % to 1.75 % . the rate decreased from 1.75 % to 0.25 % during the year ended december 31 , 2020. the rate reductions add continued pressure on loan yields . covid-19 the company 's performance for the year ended december 31 , 2020 was strong due to higher mortgage banking operations , as a result of a historically low interest rate environment and substantial gains from loan sales . however , the company also continues to see the impact of the covid-19 pandemic and its consequences on our montana communities . the bank is focused on supporting our customers , communities and employees while prudently managing risk . the bank is closely monitoring borrowers and businesses serviced and is providing debt service relief for those that have been impacted . on march 27 , 2020 , congress passed the coronavirus aid , relief , and economic security act ( “ cares act ” ) providing economic relief for the country , including the $ 349 billion small business administration ( “ sba ” ) paycheck protection program ( “ ppp ” ) to fund short-term loans for small businesses . in april 2020 , additional funding was approved for the ppp . eagle began taking loan applications from its small business clients immediately after the program was implemented , and as of december 31 , 2020 had helped 764 customers receive $ 45.71 million in sba ppp loans . the bank has processed applications for ppp loan forgiveness for customers , with 195 loans representing over $ 15.00 million now paid in full . the remaining 569 sba ppp loans represent $ 29.58 million . while all industries have and will continue to experience adverse impacts as a result of the covid-19 pandemic , we had exposures in the following impacted industries , as a percentage of loans as of december 31 , 2020 : health and social assistance ( 2.6 % ) , hotels and lodging ( 4.1 % ) , bars and restaurants ( 2.6 % ) , casinos ( 1.2 % ) and nursing homes ( 0.5 % ) . the bank continues to reach out to specific borrowers to assess the risks and understand their needs . the bank has offered multiple accommodation options to its clients , including 90-day deferrals , forbearances and interest only payments . during 2020 , the montana board of investments ( `` mboi `` ) began offering 12-months of interest payment assistance to qualified borrowers . as of december 31 , 2020 , remaining loan modifications for 40 nonresidential borrowers represented $ 29.00 million in loans or 3.5 % of total loans , compared to 66 borrowers representing $ 55.21 million or 6.5 % of loans as of september 30 , 2020. the bank qualified 32 borrowers for the mboi program representing $ 26.62 million in loans , which are included in the fourth quarter modifications . story_separator_special_tag conversely , financial instruments rarely traded or not quoted will generally have little or no pricing observability and a higher degree of judgment utilized in measuring fair value . pricing observability is impacted by a number of factors , including the type of financial instrument , whether the financial instrument is new to the market and not yet established and the characteristics specific to the transaction . the objective of a fair value measurement is to estimate the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions ( that is , an exit price at the measurement date from the perspective of a market participant that holds the asset or owes the liability ) . deferred income taxes we use the asset and liability method of accounting for income taxes as prescribed in fasb asc topic 740 income taxes . using this method , deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . if current available information raises doubt as to the realization of the deferred tax assets , a valuation allowance is established . deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled . we exercise significant judgment in evaluating the amount and timing of recognition of the resulting tax liabilities and assets . these judgments require us to make projections of future taxable income . the judgments and estimates we make in determining our deferred tax assets , which are inherently subjective , are reviewed on an ongoing basis as regulatory and business factors change . a reduction in estimated future taxable income could require us to record a valuation allowance . changes in levels of valuation allowances could result in increased income tax expense , and could negatively affect earnings . financial condition december 31 , 2020 compared to december 31 , 2019 total assets were $ 1.26 billion at december 31 , 2020 , an increase of $ 203.37 million , or 19.3 % from $ 1.05 billion at december 31 , 2019. there were several factors impacting this increase . loans receivable , net increased by $ 58.86 million from december 31 , 2019. in addition , total cash and cash equivalents increased by $ 44.88 million from december 31 , 2019 and has been impacted by ppp funds deposited by borrowers . securities available-for-sale also increased by $ 36.07 million from $ 126.88 million at december 31 , 2019. mortgage loans held-for-sale increased $ 29.01 million due to robust residential mortgage volumes during 2020. total liabilities were $ 1.10 billion at december 31 , 2020 , an increase of $ 172.10 million , or 18.5 % , from $ 932.60 million at december 31 , 2019. the increase was largely due to an increase in deposits partially offset by a reduction in fhlb advances and borrowings . total deposits increased by $ 224.09 million from december 31 , 2019. however , fhlb advances and other borrowings decreased $ 71.28 million from december 31 , 2019. total shareholders ' equity increased by $ 31.28 million from december 31 , 2019. financial condition details investment activities we maintain a portfolio of investment securities , classified as either available-for-sale or held-to-maturity to enhance total return on investments . our investment securities generally include u.s. government and agency obligations , u.s. treasury obligations , small business administration pools , municipal securities , corporate obligations , mortgage-backed securities ( “ mbss ” ) , collateralized mortgage obligations ( “ cmos ” ) and asset-backed securities ( “ abss ” ) , all with varying characteristics as to rate , maturity and call provisions . there were no held-to-maturity investment securities included in the investment portfolio at december 31 , 2020 or 2019. all investment securities included in the investment portfolio are available-for-sale . eagle also has interest-bearing deposits in other banks and federal funds sold , as well as , stock in fhlb and frb . fhlb stock was $ 2.06 million and $ 4.68 million at december 31 , 2020 and 2019 , respectively . frb stock was $ 2.97 million and $ 2.53 million at december 31 , 2020 and 2019 , respectively . 25 the following table summarizes investment activities : replace_table_token_3_th securities available-for-sale were $ 162.95 million at december 31 , 2020 , an increase of $ 36.07 million , or 28.4 % , from $ 126.88 million at december 31 , 2019. securities increased during the period due to the whc acquisition , which included acquired securities of $ 43.71 million . excluding securities acquired , securities decreased by $ 7.64 million . the decrease was due to sales and maturities of securities , largely offset by purchases during the period . the following table sets forth information regarding fair values , weighted average yields and maturities of investments . the yields have been computed on a tax equivalent basis . maturities are based on the final contractual payment dates and do not reflect the impact of prepayments or early redemptions that may occur . december 31 , 2020 one year or less one to five years five to ten years after ten years total investment securities fair value weighted average yield fair value weighted average yield fair value weighted average yield fair value weighted average yield fair value approximate market value weighted average yield ( dollars in thousands ) securities available-for-sale : u.s. government obligations $ - 0.00 % $ - 0.00 % $ 1,684 1.62 % $ 561 3.07 % $ 2,245 $ 2,245 1.98 % u.s. treasury obligations - 0.00 % 5,657 2.76 % - 0.00 % - 0.00 % 5,657 5,657 2.76 %

