the deferral period concluded by september 30 , 2020 for $ 43.5 million , or 11 % , of the commercial loans subject to covid-19 loan modifications . all of these loans were current 44 as of september 30 , 2020. the deferral period for the majority of the remaining commercial loans concluded by november 16 , 2020. small business administration paycheck protection program loans - as of september 30 , 2020 , the bank had originated and funded 791 ppp loans totaling $ 43.9 million , with a median loan amount of $ 19 thousand , and received origination fees totaling $ 1.9 million associated with these loans . these loans are fully guaranteed by the sba . the program ended august 8 , 2020. through november 16 , 2020 , $ 12.2 million of the bank 's ppp loans have been forgiven by the sba . on october 8 , 2020 the sba released a streamlined loan forgiveness application for ppp loans in amounts of $ 50 thousand or less . of the ppp loans originated by the bank , 611 loans totaling $ 9.6 million , or 22 % of the bank 's aggregate ppp loan balance , were in amounts less than $ 50 thousand and will be eligible for the streamlined forgiveness process . capital , liquidity , and dividends - management performed stress test scenarios during april 2020. based on the company 's existing capital levels , deposit inflows , loan underwriting policies , loan concentration , and geographical diversification , no liquidity or capital concerns were identified as a result of the stress tests . management continues to anticipate being able to manage the economic risks and uncertainties associated with the covid-19 pandemic and the bank remaining well capitalized with sufficient liquidity to serve our customers . deposit balances have increased due primarily to the economic stimulus payments , a reduction in consumer spending , and ppp loan proceeds being deposited at the bank . as a result , management is currently faced with the challenge of excess liquidity . due to the nature of deposit cash flows , management does not know how long the excess liquidity will continue . as such , management has elected , for the time being , to reduce the bank 's level of borrowings and increase the balance of securities using the excess liquidity from the deposit portfolio . with earnings of $ 0.47 per share for fiscal year 2020 , and a cash balance at the holding company level of $ 82.5 million , the company has the resources to continue to pay its regular quarterly dividend of $ 0.085 per share for the foreseeable future . given the state of economic uncertainty and how that may play out with the credit risk exposure in the bank 's loan portfolio , the company elected to defer the annual true blue dividend in june 2020 and did not ask at that time for a regulatory non-objection to move capital from the bank to the company to pay that dividend . it is management 's intention to ask for a regulatory non-objection at some point in the future to pay this dividend when economic conditions are more certain . it is currently the company 's intention to pay out 100 % of its fiscal year 2021 earnings . management 's evolving response to covid-19 - there is continued concern about a resurgence of covid-19 as we enter the winter months . in october and november 2020 , covid-19 cases , hospitalizations , and deaths nationally and in our local market areas increased compared to the summer months , including to new record levels in some areas . the kansas governor recently issued an executive order establishing a statewide face-covering protocol as part of her administration 's strategy to keep schools and businesses open and to protect the economy . we continue to be confronted with a significant and unfamiliar degree of uncertainty as to how a resurgence will impact our customers , employees , and operations and how actions taken by governmental authorities and other third parties in response to a resurgence will impact our customers , employees , and operations . we will continue to monitor covid-19 cases and will adjust operational plans as necessary . we will also continue to assist our customers as necessary during these uncertain times . see `` part i , item 1a . risk factors - risks related to macroeconomic conditions `` for additional discussion regarding the impact the covid-19 pandemic may have on our business , results of operations and financial condition . impact on market interest rates as a result of covid-19 pandemic and company 's response the federal reserve , in response to economic risks resulting from the covid-19 pandemic , returned to a zero-interest rate policy in march 2020. this was after most broader market rates decreased significantly in response to evolving news about the covid-19 pandemic . the dramatic lowering of interest rates in a short period of time impacted the operations and performance of the bank . deteriorating economic conditions included more than 20 million people becoming unemployed in the united states in one month 's time , with more than 58 million in total filing for unemployment benefits , along with immediate reductions in consumer spending on almost all categories of purchases except groceries and staples , and closure or significantly reduced operations of restaurants , bars , airlines , hotels , and entertainment and hospitality venues , among others , and had a devastating impact on the economy . since that time , many areas of consumer spending have rebounded , generally locally and not related to travel and entertainment . story_separator_special_tag in addition , the adequacy of the company 's acl is reviewed during bank regulatory examinations . we consider any comments from our regulators when assessing the appropriateness of our acl . management seeks to apply the acl methodology in a consistent manner ; however , the methodology may be modified in response to changing conditions . asu 2016-13 , financial instruments - credit losses : measurement of credit losses on financial instruments became effective for the company on october 1 , 2020. see `` part ii , item 8. financial statements and supplementary data – notes to consolidated financial statements – note 1. summary of significant accounting policies `` for additional information . fair value measurements . the company uses fair value measurements to record fair value adjustments to certain financial instruments and to determine fair value disclosures in accordance with accounting standards codification ( `` asc `` ) 820 and asc 825. the company groups its financial instruments at fair value in three levels based on the markets in which the instruments are traded and the reliability of the assumptions used to determine fair value , with level 1 ( quoted prices for identical assets in an active market ) being considered the most reliable , and level 3 having the most unobservable inputs and therefore being considered the least reliable . the company bases its fair values on the price that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date . the company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value . the company 's afs securities are measured at fair value on a recurring basis . changes in the fair value of afs securities are recorded , net of tax , as aoci in stockholders ' equity . the company primarily uses prices obtained from third-party pricing services to determine the fair value of its afs securities . various modeling techniques are used to determine pricing for the company 's securities , including option pricing , discounted cash flow models , and similar techniques . the inputs to these models may include benchmark yields , reported trades , broker/dealer quotes , issuer spreads , benchmark securities , bids , offers and reference data . all afs securities are classified as level 2. the company 's interest rate swaps are measured at fair value on a recurring basis . the estimated fair value of the interest rate swaps are obtained from the counterparty and are determined by a discounted cash flow analysis using observable market-based inputs . changes in the fair value of the interest rate swaps are recorded , net of tax , as aoci in stockholders ' equity . the company did not have any other financial instruments that were measured at fair value on a recurring basis at september 30 , 2020. recent accounting pronouncements for a discussion of recent accounting pronouncements , see `` part ii , item 8. financial statements and supplementary data – notes to financial statements – note 1. summary of significant accounting policies . `` 49 management strategy we are a community-oriented financial institution dedicated to serving the needs of customers in our market areas . our commitment is to provide qualified borrowers the broadest possible access to home ownership through our mortgage lending programs and to offer a complete set of personal and commercial banking products and services to our customers . we strive to enhance stockholder value while maintaining a strong capital position . to achieve these goals , we focus on the following strategies : lending . we are one of the leading originators of one- to four-family loans in the state of kansas . we originate these loans primarily for our own portfolio , and we service the loans we originate . we also purchase one- to four-family loans from correspondent lenders . in addition , we offer several commercial lending options to our customers and participate in commercial loans with other lenders . we offer both fixed- and adjustable-rate products with various terms to maturity and pricing options . we maintain strong relationships with local real estate agents to attract mortgage loan business . we rely on our marketing efforts and customer service reputation to attract mortgage business from walk-in customers , customers that apply online , and existing customers . deposit services . we offer a wide array of retail and business deposit products and services . these products include checking , savings , money market , certificates of deposit , and retirement accounts . our deposit services are provided through a branch network of 54 locations , including traditional branches and retail in-store locations , our call center which operates on extended hours , mobile banking , telephone banking , and online banking and bill payment services . cost control . we generally are very effective at controlling our costs of operations . by using technology , we are able to centralize our loan servicing and deposit support functions for efficient processing . we serve a broad range of customers through relatively few branch locations . our average deposit base per traditional branch at september 30 , 2020 was approximately $ 123.6 million . this large average deposit base per branch helps to control costs . our one- to four-family lending strategy and our effective management of credit risk allows us to service a large portfolio of loans at efficient levels because it costs less to service a portfolio of performing loans . we recognize it is more expensive to offer a full suite of commercial products and services , but we will continue our efforts to control those costs . asset quality . we utilize underwriting standards for our lending products , including the loans we purchase and participate in , that are designed to limit our exposure to credit risk . we require complete documentation for both originated and purchased

liquidity and capital resources liquidity refers to our ability to generate sufficient cash to fund ongoing operations , to repay maturing certificates of deposit and other deposit withdrawals , to repay maturing borrowings , and to fund loan commitments . liquidity management is both a daily and long-term function of our business management . the company 's most available liquid assets are represented by cash and cash equivalents , afs securities , and short-term investment securities . the bank 's primary sources of funds are deposits , fhlb borrowings , repurchase agreements , repayments and maturities of outstanding loans and mbs and other short-term investments , and funds provided by operations . the bank 's long-term borrowings primarily have been used to manage the bank 's interest rate risk with the intention to improve the earnings of the bank while maintaining capital ratios in excess of regulatory standards for well-capitalized financial institutions . in addition , the bank 's focus on managing risk has provided additional liquidity capacity by maintaining a balance of mbs and investment securities available as collateral for borrowings . we generally intend to manage cash reserves sufficient to meet short-term liquidity needs , which are routinely forecasted for 10 , 30 , and 365 days . additionally , on a monthly basis , we perform a liquidity stress test in accordance with the interagency policy statement on funding and liquidity risk management . the liquidity stress test incorporates both short-term and long-term liquidity scenarios in order to identify and to quantify liquidity risk . management also monitors key liquidity statistics related to items such as wholesale funding gaps , borrowings capacity , and available unpledged collateral , as well as various liquidity ratios . see the `` executive summary '' above for information regarding the impact of the covid-19 pandemic on our liquidity . 73 in the event short-term liquidity needs exceed available cash , the bank has access to a line of credit at fhlb and the frb of kansas city 's discount window . see `` part i , item 1. business - sources of funds '' for information regarding limits on the bank 's fhlb borrowings .


 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 our ability to generate sufficient cash to fund ongoing operations , to repay maturing certificates of deposit and other deposit withdrawals , to repay maturing borrowings , and to fund loan commitments . liquidity management is both a daily and long-term function of our business management . the company 's most available liquid assets are represented by cash and cash equivalents , afs securities , and short-term investment securities . the bank 's primary sources of funds are deposits , fhlb borrowings , repurchase agreements , repayments and maturities of outstanding loans and mbs and other short-term investments , and funds provided by operations . the bank 's long-term borrowings primarily have been used to manage the bank 's interest rate risk with the intention to improve the earnings of the bank while maintaining capital ratios in excess of regulatory standards for well-capitalized financial institutions . in addition , the bank 's focus on managing risk has provided additional liquidity capacity by maintaining a balance of mbs and investment securities available as collateral for borrowings . we generally intend to manage cash reserves sufficient to meet short-term liquidity needs , which are routinely forecasted for 10 , 30 , and 365 days . additionally , on a monthly basis , we perform a liquidity stress test in accordance with the interagency policy statement on funding and liquidity risk management . the liquidity stress test incorporates both short-term and long-term liquidity scenarios in order to identify and to quantify liquidity risk . management also monitors key liquidity statistics related to items such as wholesale funding gaps , borrowings capacity , and available unpledged collateral , as well as various liquidity ratios . see the `` executive summary '' above for information regarding the impact of the covid-19 pandemic on our liquidity . 73 in the event short-term liquidity needs exceed available cash , the bank has access to a line of credit at fhlb and the frb of kansas city 's discount window . see `` part i , item 1. business - sources of funds '' for information regarding limits on the bank 's fhlb borrowings .
```    
 Suspicious Activity Report : the deferral period concluded by september 30 , 2020 for $ 43.5 million , or 11 % , of the commercial loans subject to covid-19 loan modifications . all of these loans were current 44 as of september 30 , 2020. the deferral period for the majority of the remaining commercial loans concluded by november 16 , 2020. small business administration paycheck protection program loans - as of september 30 , 2020 , the bank had originated and funded 791 ppp loans totaling $ 43.9 million , with a median loan amount of $ 19 thousand , and received origination fees totaling $ 1.9 million associated with these loans . these loans are fully guaranteed by the sba . the program ended august 8 , 2020. through november 16 , 2020 , $ 12.2 million of the bank 's ppp loans have been forgiven by the sba . on october 8 , 2020 the sba released a streamlined loan forgiveness application for ppp loans in amounts of $ 50 thousand or less . of the ppp loans originated by the bank , 611 loans totaling $ 9.6 million , or 22 % of the bank 's aggregate ppp loan balance , were in amounts less than $ 50 thousand and will be eligible for the streamlined forgiveness process . capital , liquidity , and dividends - management performed stress test scenarios during april 2020. based on the company 's existing capital levels , deposit inflows , loan underwriting policies , loan concentration , and geographical diversification , no liquidity or capital concerns were identified as a result of the stress tests . management continues to anticipate being able to manage the economic risks and uncertainties associated with the covid-19 pandemic and the bank remaining well capitalized with sufficient liquidity to serve our customers . deposit balances have increased due primarily to the economic stimulus payments , a reduction in consumer spending , and ppp loan proceeds being deposited at the bank . as a result , management is currently faced with the challenge of excess liquidity . due to the nature of deposit cash flows , management does not know how long the excess liquidity will continue . as such , management has elected , for the time being , to reduce the bank 's level of borrowings and increase the balance of securities using the excess liquidity from the deposit portfolio . with earnings of $ 0.47 per share for fiscal year 2020 , and a cash balance at the holding company level of $ 82.5 million , the company has the resources to continue to pay its regular quarterly dividend of $ 0.085 per share for the foreseeable future . given the state of economic uncertainty and how that may play out with the credit risk exposure in the bank 's loan portfolio , the company elected to defer the annual true blue dividend in june 2020 and did not ask at that time for a regulatory non-objection to move capital from the bank to the company to pay that dividend . it is management 's intention to ask for a regulatory non-objection at some point in the future to pay this dividend when economic conditions are more certain . it is currently the company 's intention to pay out 100 % of its fiscal year 2021 earnings . management 's evolving response to covid-19 - there is continued concern about a resurgence of covid-19 as we enter the winter months . in october and november 2020 , covid-19 cases , hospitalizations , and deaths nationally and in our local market areas increased compared to the summer months , including to new record levels in some areas . the kansas governor recently issued an executive order establishing a statewide face-covering protocol as part of her administration 's strategy to keep schools and businesses open and to protect the economy . we continue to be confronted with a significant and unfamiliar degree of uncertainty as to how a resurgence will impact our customers , employees , and operations and how actions taken by governmental authorities and other third parties in response to a resurgence will impact our customers , employees , and operations . we will continue to monitor covid-19 cases and will adjust operational plans as necessary . we will also continue to assist our customers as necessary during these uncertain times . see `` part i , item 1a . risk factors - risks related to macroeconomic conditions `` for additional discussion regarding the impact the covid-19 pandemic may have on our business , results of operations and financial condition . impact on market interest rates as a result of covid-19 pandemic and company 's response the federal reserve , in response to economic risks resulting from the covid-19 pandemic , returned to a zero-interest rate policy in march 2020. this was after most broader market rates decreased significantly in response to evolving news about the covid-19 pandemic . the dramatic lowering of interest rates in a short period of time impacted the operations and performance of the bank . deteriorating economic conditions included more than 20 million people becoming unemployed in the united states in one month 's time , with more than 58 million in total filing for unemployment benefits , along with immediate reductions in consumer spending on almost all categories of purchases except groceries and staples , and closure or significantly reduced operations of restaurants , bars , airlines , hotels , and entertainment and hospitality venues , among others , and had a devastating impact on the economy . since that time , many areas of consumer spending have rebounded , generally locally and not related to travel and entertainment . story_separator_special_tag in addition , the adequacy of the company 's acl is reviewed during bank regulatory examinations . we consider any comments from our regulators when assessing the appropriateness of our acl . management seeks to apply the acl methodology in a consistent manner ; however , the methodology may be modified in response to changing conditions . asu 2016-13 , financial instruments - credit losses : measurement of credit losses on financial instruments became effective for the company on october 1 , 2020. see `` part ii , item 8. financial statements and supplementary data – notes to consolidated financial statements – note 1. summary of significant accounting policies `` for additional information . fair value measurements . the company uses fair value measurements to record fair value adjustments to certain financial instruments and to determine fair value disclosures in accordance with accounting standards codification ( `` asc `` ) 820 and asc 825. the company groups its financial instruments at fair value in three levels based on the markets in which the instruments are traded and the reliability of the assumptions used to determine fair value , with level 1 ( quoted prices for identical assets in an active market ) being considered the most reliable , and level 3 having the most unobservable inputs and therefore being considered the least reliable . the company bases its fair values on the price that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date . the company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value . the company 's afs securities are measured at fair value on a recurring basis . changes in the fair value of afs securities are recorded , net of tax , as aoci in stockholders ' equity . the company primarily uses prices obtained from third-party pricing services to determine the fair value of its afs securities . various modeling techniques are used to determine pricing for the company 's securities , including option pricing , discounted cash flow models , and similar techniques . the inputs to these models may include benchmark yields , reported trades , broker/dealer quotes , issuer spreads , benchmark securities , bids , offers and reference data . all afs securities are classified as level 2. the company 's interest rate swaps are measured at fair value on a recurring basis . the estimated fair value of the interest rate swaps are obtained from the counterparty and are determined by a discounted cash flow analysis using observable market-based inputs . changes in the fair value of the interest rate swaps are recorded , net of tax , as aoci in stockholders ' equity . the company did not have any other financial instruments that were measured at fair value on a recurring basis at september 30 , 2020. recent accounting pronouncements for a discussion of recent accounting pronouncements , see `` part ii , item 8. financial statements and supplementary data – notes to financial statements – note 1. summary of significant accounting policies . `` 49 management strategy we are a community-oriented financial institution dedicated to serving the needs of customers in our market areas . our commitment is to provide qualified borrowers the broadest possible access to home ownership through our mortgage lending programs and to offer a complete set of personal and commercial banking products and services to our customers . we strive to enhance stockholder value while maintaining a strong capital position . to achieve these goals , we focus on the following strategies : lending . we are one of the leading originators of one- to four-family loans in the state of kansas . we originate these loans primarily for our own portfolio , and we service the loans we originate . we also purchase one- to four-family loans from correspondent lenders . in addition , we offer several commercial lending options to our customers and participate in commercial loans with other lenders . we offer both fixed- and adjustable-rate products with various terms to maturity and pricing options . we maintain strong relationships with local real estate agents to attract mortgage loan business . we rely on our marketing efforts and customer service reputation to attract mortgage business from walk-in customers , customers that apply online , and existing customers . deposit services . we offer a wide array of retail and business deposit products and services . these products include checking , savings , money market , certificates of deposit , and retirement accounts . our deposit services are provided through a branch network of 54 locations , including traditional branches and retail in-store locations , our call center which operates on extended hours , mobile banking , telephone banking , and online banking and bill payment services . cost control . we generally are very effective at controlling our costs of operations . by using technology , we are able to centralize our loan servicing and deposit support functions for efficient processing . we serve a broad range of customers through relatively few branch locations . our average deposit base per traditional branch at september 30 , 2020 was approximately $ 123.6 million . this large average deposit base per branch helps to control costs . our one- to four-family lending strategy and our effective management of credit risk allows us to service a large portfolio of loans at efficient levels because it costs less to service a portfolio of performing loans . we recognize it is more expensive to offer a full suite of commercial products and services , but we will continue our efforts to control those costs . asset quality . we utilize underwriting standards for our lending products , including the loans we purchase and participate in , that are designed to limit our exposure to credit risk . we require complete documentation for both originated and purchased

