on october 11 , 2017 , the company completed the purchase of a $ 73 million , seasoned , floating rate , private student loan portfolio . all loans are indexed to one-month libor . the portfolio is serviced by reliamax lending services llc and insured by reliamax surety company . the company expects to realize initial net yields of over 6 % . this portfolio purchase builds on our existing student loan platform and we expect that the acquired loan portfolio will be easily integrated with minimal impact to the business . on november 13 , 2017 , shelly schneekloth joined the company as executive vice president and head of technology and operations . ms. schneekloth is responsible for directing information technology and operations initiatives to align and support business strategies . the company recorded net income of $ 44.9 million in fiscal 2017 compared to $ 33.2 million in fiscal 2016 . the increase in net income was primarily due to increases in non-interest income and net interest income . in fiscal 2017 , non-interest income increased to $ 172.2 million from $ 100.8 million in fiscal 2016 , primarily due to increases in tax advance product fee income , card fee income and refund transfer product fee income . the company 's net interest income grew to $ 93.2 million in fiscal 2017 , compared to $ 77.3 million in fiscal 2016 . the increase was driven by growth in both loan and investment volumes as well as increased yields in the investment portfolio . additionally , the continuous improvement in the overall interest-earning asset mix contributed to the increased net interest income , primarily due to loan growth , including as a result of the december 2016 purchased student loan portfolio , and purchases of highly rated tax-exempt municipal securities at relatively high tax equivalent yields . partially offsetting the higher non-interest income and net interest income was non-interest expense , which rose $ 65.0 million , from $ 134.6 million in fiscal 2016 to $ 199.7 million in fiscal 2017 , and income tax expense which rose from $ 5.6 million to $ 10.2 million year over year . 75 overall , the cost of funds at metabank averaged 0.43 % during fiscal 2017 , compared to 0.15 % for 2016 . this increase was primarily due to a combination of the issuance of the company 's subordinated debt in the fourth quarter of fiscal year 2016 , the addition of wholesale deposits , and an increase in short-term borrowing rates . tangible book value per common share decreased by $ 2.10 , or 7 % , to $ 29.47 per share at september 30 , 2017 , from $ 31.57 per share at september 30 , 2016 . this decrease was driven by an increase in common shares outstanding along with increases in goodwill and intangible assets , which for this calculation , are excluded from total stockholders ' equity . the increases in common shares outstanding , goodwill and intangible assets were primarily attributable to the eps and scs acquisitions completed during fiscal 2017. book value per common share outstanding increased by $ 5.85 , or 15 % , to $ 45.15 per share at september 30 , 2017 , from $ 39.30 per share at september 30 , 2016 . the company 's non-performing assets ( “ npas ” ) were 0.72 % of total assets at september 30 , 2017 , compared to 0.03 % at september 30 , 2016 . the increase in npas was primarily related to two large agricultural relationships becoming more than 90 days past due . these loan relationships were both still accruing in the fourth fiscal quarter . one of these relationships was paid in full on november 1 , 2017 , and it is possible the collateral related to the other relationship could go through a deed in lieu of foreclosure process in the near future . financial condition as of september 30 , 2017 , the company 's assets grew by $ 1.22 billion , or 30 % , to $ 5.23 billion , compared to $ 4.01 billion at september 30 , 2016 . the growth in assets resulted from a variety of factors , including increases in the company 's cash and cash equivalents , loan balances , and investment securities portfolio . total cash and cash equivalents was $ 1.27 billion at september 30 , 2017 , an increase of $ 493.8 million from $ 773.8 million at september 30 , 2016 . the majority of this increase was related to a temporary repositioning of the balance sheet in september 2017 , similar to what was done in fiscal year 2016 , to prepare the company for the upcoming 2018 seasonal tax lending activity . the company anticipated utilizing excess cash it held at its fiscal year end to repay overnight borrowings in october 2017. in general , the company maintains its cash investments in interest-bearing overnight deposits with the fhlb and the frb . at september 30 , 2017 , the company had no federal funds sold . the total of mbs and investment securities increased $ 167.9 million , or 8 % , to $ 2.26 billion at september 30 , 2017 , compared to september 30 , 2016 , as investment purchases exceeded related maturities , sales and principal pay downs . the company 's portfolio of securities customarily consists primarily of mbs , which have expected lives much shorter than the stated final maturity , non-bank qualified obligations of states and political subdivisions ( “ nbq ” ) which mature in approximately 15 years or less , and other tax exempt municipal mortgage related pass through securities which have average lives much shorter than their stated final maturities . all mbs held by the company at september 30 , 2017 were issued by a u.s. government agency or instrumentality . story_separator_special_tag the company recorded net income of $ 33.2 million , or $ 3.92 per diluted share , for the year ended september 30 , 2016 , compared to $ 18.1 million , or $ 2.66 per diluted share , for the year ended september 30 , 2015 , an increase of $ 15.1 million . the increase in net income was primarily caused by tax product fee income of $ 23.3 million , a $ 16.0 million increase in card fee income , a $ 13.2 million increase in interest income from the securities portfolio , and a $ 6.6 million increase in loan interest income . the net income increase was offset in part by an increase in compensation and benefits expense of $ 15.2 million , tax product expense of $ 8.6 million , and increased card processing expense of $ 5.8 million . net interest income . net interest income for fiscal 2016 increased by $ 18.1 million , or 31 % , to $ 77.3 million from $ 59.2 million for the prior year . net interest margin increased to 3.19 % in fiscal 2016 as compared to 3.03 % in 2015 . the increase was mainly due to growth in loans receivable and a higher volume of other investments ( primarily high credit quality municipal bonds ) . an improved mix of earning assets complemented the higher volume of investments , adding to the overall increase . the company 's average earning assets increased $ 604.6 million , or 27 % , to $ 2.82 billion during fiscal 2016 from $ 2.22 billion during 2015 . the increase is primarily the result of the increase in the company 's investment securities and non-bank qualified , high-quality municipal portfolios as well as loans receivable . the company 's average total deposits and interest-bearing liabilities increased $ 575.1 million , or 28 % , to $ 2.66 billion during fiscal 2016 from $ 2.09 billion during 2015. the increase resulted mainly from an increase in the company 's non-interest-bearing deposits . the average outstanding balance of non-interest-bearing deposits increased from $ 1.63 billion in fiscal 2015 to $ 2.02 billion in fiscal 2016. the company 's cost of total deposits and interest-bearing liabilities increased four basis points to 0.15 % during fiscal 2016 from 0.11 % during 2015 , primarily due to an increase in the overnight borrowing rate as well as the issuance of the company 's subordinated debt . provision for loan losses . in fiscal 2016 , the company recorded $ 4.6 million in provision for loan losses , compared to $ 1.5 million in 2015 . the increased provision was primarily due to loan growth as well as seasonal charge-offs related to refund advance loan programs , and also partially due to a write down and eventual charge-off of a large agriculture relationship . non-interest income . non-interest income increased by $ 42.6 million , or 73 % , to $ 100.8 million for fiscal 2016 from $ 58.2 million for 2015 primarily due to tax product fee income of $ 23.3 million related to the acquisition of refund advantage in september 2015 , an increase in fees earned on prepaid debit cards , credit products and other payment systems products of $ 16.0 million due to the addition of multiple new partners and growth in existing payments programs . loan fees also increased by $ 2.9 million from retail and premium finance loan growth . non-interest expense . non-interest expense increased by $ 38.1 million , or 40 % , to $ 134.6 million for fiscal 2016 from $ 96.5 million for fiscal 2015 . compensation expense increased $ 15.2 million during fiscal 2016 compared to 2015 , and occupancy and equipment increased $ 2.6 million . the increases in these categories were principally due to a full year of expenses associated with the refund advantage and afs/ibex operations and due to additional product development and it developer staffing to support the company 's growth initiatives and prepare for other business opportunities . in addition , tax product expense increased $ 8.6 million due to the refund advantage acquisition , card-processing expense increased $ 5.8 million , and other expense increased $ 2.2 million primarily due to intangibles amortization and overall company growth initiatives . a significant portion of the increase in card-processing expense was due to sales promotions from one of our largest partners and is a variable expense directly tied to the fee income growth . income tax expense . income tax expense for fiscal 2016 was $ 5.6 million , resulting in an effective tax rate of 14 % , compared to a tax expense of $ 1.4 million and an effective tax rate of 7 % , in fiscal 2015. the increase in the company 's recorded income tax expense for 2016 was impacted primarily by an increase in earnings and also by higher year-to-date income than what was projected ; however , the increase was partially reduced by an increase in tax-exempt income , highlighting one of the benefits of our growing tax-exempt municipal securities portfolio . 81 critical accounting policies the company 's financial statements are prepared in accordance with u.s. generally accepted accounting principles ( `` gaap `` ) . the financial information contained within these financial statements is , to a significant extent , based on approximate measures of the financial effects of transactions and events that have already occurred . management has identified the policies described below as critical accounting policies . these policies involve complex and subjective decisions and assessments . some of these estimates may be uncertain at the time they are made , could change from period to period , and could have a material impact on the financial statements . allowance for loan losses . the company 's allowance for loan loss methodology incorporates a variety of risk considerations , both quantitative and qualitative , in establishing an allowance

liquidity and capital resources the company 's primary sources of funds are deposits , derived principally through its payments divisions , and to a lesser extent through its retail bank division , borrowings , principal and interest payments on loans and mortgage-backed securities , and maturing investment securities . in addition , the company utilizes wholesale deposit sources to provide temporary funding when necessary or when favorable terms are available . while scheduled loan repayments and maturing investments are relatively predictable , deposit flows and early loan repayments are influenced by the level of interest rates , general economic conditions and competition . the company relies on advertising , quality customer service , convenient locations and competitive pricing to attract and retain its retail bank deposits and primarily solicits these deposits from its core market areas . based on its experience , the company believes that its consumer checking , savings and money market accounts are relatively stable sources of deposits . the company 's ability to attract and retain time deposits has been , and will continue to be , affected by market conditions . however , the company does not foresee any significant retail bank funding issues resulting from the sensitivity of time deposits to such market factors .


 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 the company 's primary sources of funds are deposits , derived principally through its payments divisions , and to a lesser extent through its retail bank division , borrowings , principal and interest payments on loans and mortgage-backed securities , and maturing investment securities . in addition , the company utilizes wholesale deposit sources to provide temporary funding when necessary or when favorable terms are available . while scheduled loan repayments and maturing investments are relatively predictable , deposit flows and early loan repayments are influenced by the level of interest rates , general economic conditions and competition . the company relies on advertising , quality customer service , convenient locations and competitive pricing to attract and retain its retail bank deposits and primarily solicits these deposits from its core market areas . based on its experience , the company believes that its consumer checking , savings and money market accounts are relatively stable sources of deposits . the company 's ability to attract and retain time deposits has been , and will continue to be , affected by market conditions . however , the company does not foresee any significant retail bank funding issues resulting from the sensitivity of time deposits to such market factors .
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 Suspicious Activity Report : on october 11 , 2017 , the company completed the purchase of a $ 73 million , seasoned , floating rate , private student loan portfolio . all loans are indexed to one-month libor . the portfolio is serviced by reliamax lending services llc and insured by reliamax surety company . the company expects to realize initial net yields of over 6 % . this portfolio purchase builds on our existing student loan platform and we expect that the acquired loan portfolio will be easily integrated with minimal impact to the business . on november 13 , 2017 , shelly schneekloth joined the company as executive vice president and head of technology and operations . ms. schneekloth is responsible for directing information technology and operations initiatives to align and support business strategies . the company recorded net income of $ 44.9 million in fiscal 2017 compared to $ 33.2 million in fiscal 2016 . the increase in net income was primarily due to increases in non-interest income and net interest income . in fiscal 2017 , non-interest income increased to $ 172.2 million from $ 100.8 million in fiscal 2016 , primarily due to increases in tax advance product fee income , card fee income and refund transfer product fee income . the company 's net interest income grew to $ 93.2 million in fiscal 2017 , compared to $ 77.3 million in fiscal 2016 . the increase was driven by growth in both loan and investment volumes as well as increased yields in the investment portfolio . additionally , the continuous improvement in the overall interest-earning asset mix contributed to the increased net interest income , primarily due to loan growth , including as a result of the december 2016 purchased student loan portfolio , and purchases of highly rated tax-exempt municipal securities at relatively high tax equivalent yields . partially offsetting the higher non-interest income and net interest income was non-interest expense , which rose $ 65.0 million , from $ 134.6 million in fiscal 2016 to $ 199.7 million in fiscal 2017 , and income tax expense which rose from $ 5.6 million to $ 10.2 million year over year . 75 overall , the cost of funds at metabank averaged 0.43 % during fiscal 2017 , compared to 0.15 % for 2016 . this increase was primarily due to a combination of the issuance of the company 's subordinated debt in the fourth quarter of fiscal year 2016 , the addition of wholesale deposits , and an increase in short-term borrowing rates . tangible book value per common share decreased by $ 2.10 , or 7 % , to $ 29.47 per share at september 30 , 2017 , from $ 31.57 per share at september 30 , 2016 . this decrease was driven by an increase in common shares outstanding along with increases in goodwill and intangible assets , which for this calculation , are excluded from total stockholders ' equity . the increases in common shares outstanding , goodwill and intangible assets were primarily attributable to the eps and scs acquisitions completed during fiscal 2017. book value per common share outstanding increased by $ 5.85 , or 15 % , to $ 45.15 per share at september 30 , 2017 , from $ 39.30 per share at september 30 , 2016 . the company 's non-performing assets ( “ npas ” ) were 0.72 % of total assets at september 30 , 2017 , compared to 0.03 % at september 30 , 2016 . the increase in npas was primarily related to two large agricultural relationships becoming more than 90 days past due . these loan relationships were both still accruing in the fourth fiscal quarter . one of these relationships was paid in full on november 1 , 2017 , and it is possible the collateral related to the other relationship could go through a deed in lieu of foreclosure process in the near future . financial condition as of september 30 , 2017 , the company 's assets grew by $ 1.22 billion , or 30 % , to $ 5.23 billion , compared to $ 4.01 billion at september 30 , 2016 . the growth in assets resulted from a variety of factors , including increases in the company 's cash and cash equivalents , loan balances , and investment securities portfolio . total cash and cash equivalents was $ 1.27 billion at september 30 , 2017 , an increase of $ 493.8 million from $ 773.8 million at september 30 , 2016 . the majority of this increase was related to a temporary repositioning of the balance sheet in september 2017 , similar to what was done in fiscal year 2016 , to prepare the company for the upcoming 2018 seasonal tax lending activity . the company anticipated utilizing excess cash it held at its fiscal year end to repay overnight borrowings in october 2017. in general , the company maintains its cash investments in interest-bearing overnight deposits with the fhlb and the frb . at september 30 , 2017 , the company had no federal funds sold . the total of mbs and investment securities increased $ 167.9 million , or 8 % , to $ 2.26 billion at september 30 , 2017 , compared to september 30 , 2016 , as investment purchases exceeded related maturities , sales and principal pay downs . the company 's portfolio of securities customarily consists primarily of mbs , which have expected lives much shorter than the stated final maturity , non-bank qualified obligations of states and political subdivisions ( “ nbq ” ) which mature in approximately 15 years or less , and other tax exempt municipal mortgage related pass through securities which have average lives much shorter than their stated final maturities . all mbs held by the company at september 30 , 2017 were issued by a u.s. government agency or instrumentality . story_separator_special_tag the company recorded net income of $ 33.2 million , or $ 3.92 per diluted share , for the year ended september 30 , 2016 , compared to $ 18.1 million , or $ 2.66 per diluted share , for the year ended september 30 , 2015 , an increase of $ 15.1 million . the increase in net income was primarily caused by tax product fee income of $ 23.3 million , a $ 16.0 million increase in card fee income , a $ 13.2 million increase in interest income from the securities portfolio , and a $ 6.6 million increase in loan interest income . the net income increase was offset in part by an increase in compensation and benefits expense of $ 15.2 million , tax product expense of $ 8.6 million , and increased card processing expense of $ 5.8 million . net interest income . net interest income for fiscal 2016 increased by $ 18.1 million , or 31 % , to $ 77.3 million from $ 59.2 million for the prior year . net interest margin increased to 3.19 % in fiscal 2016 as compared to 3.03 % in 2015 . the increase was mainly due to growth in loans receivable and a higher volume of other investments ( primarily high credit quality municipal bonds ) . an improved mix of earning assets complemented the higher volume of investments , adding to the overall increase . the company 's average earning assets increased $ 604.6 million , or 27 % , to $ 2.82 billion during fiscal 2016 from $ 2.22 billion during 2015 . the increase is primarily the result of the increase in the company 's investment securities and non-bank qualified , high-quality municipal portfolios as well as loans receivable . the company 's average total deposits and interest-bearing liabilities increased $ 575.1 million , or 28 % , to $ 2.66 billion during fiscal 2016 from $ 2.09 billion during 2015. the increase resulted mainly from an increase in the company 's non-interest-bearing deposits . the average outstanding balance of non-interest-bearing deposits increased from $ 1.63 billion in fiscal 2015 to $ 2.02 billion in fiscal 2016. the company 's cost of total deposits and interest-bearing liabilities increased four basis points to 0.15 % during fiscal 2016 from 0.11 % during 2015 , primarily due to an increase in the overnight borrowing rate as well as the issuance of the company 's subordinated debt . provision for loan losses . in fiscal 2016 , the company recorded $ 4.6 million in provision for loan losses , compared to $ 1.5 million in 2015 . the increased provision was primarily due to loan growth as well as seasonal charge-offs related to refund advance loan programs , and also partially due to a write down and eventual charge-off of a large agriculture relationship . non-interest income . non-interest income increased by $ 42.6 million , or 73 % , to $ 100.8 million for fiscal 2016 from $ 58.2 million for 2015 primarily due to tax product fee income of $ 23.3 million related to the acquisition of refund advantage in september 2015 , an increase in fees earned on prepaid debit cards , credit products and other payment systems products of $ 16.0 million due to the addition of multiple new partners and growth in existing payments programs . loan fees also increased by $ 2.9 million from retail and premium finance loan growth . non-interest expense . non-interest expense increased by $ 38.1 million , or 40 % , to $ 134.6 million for fiscal 2016 from $ 96.5 million for fiscal 2015 . compensation expense increased $ 15.2 million during fiscal 2016 compared to 2015 , and occupancy and equipment increased $ 2.6 million . the increases in these categories were principally due to a full year of expenses associated with the refund advantage and afs/ibex operations and due to additional product development and it developer staffing to support the company 's growth initiatives and prepare for other business opportunities . in addition , tax product expense increased $ 8.6 million due to the refund advantage acquisition , card-processing expense increased $ 5.8 million , and other expense increased $ 2.2 million primarily due to intangibles amortization and overall company growth initiatives . a significant portion of the increase in card-processing expense was due to sales promotions from one of our largest partners and is a variable expense directly tied to the fee income growth . income tax expense . income tax expense for fiscal 2016 was $ 5.6 million , resulting in an effective tax rate of 14 % , compared to a tax expense of $ 1.4 million and an effective tax rate of 7 % , in fiscal 2015. the increase in the company 's recorded income tax expense for 2016 was impacted primarily by an increase in earnings and also by higher year-to-date income than what was projected ; however , the increase was partially reduced by an increase in tax-exempt income , highlighting one of the benefits of our growing tax-exempt municipal securities portfolio . 81 critical accounting policies the company 's financial statements are prepared in accordance with u.s. generally accepted accounting principles ( `` gaap `` ) . the financial information contained within these financial statements is , to a significant extent , based on approximate measures of the financial effects of transactions and events that have already occurred . management has identified the policies described below as critical accounting policies . these policies involve complex and subjective decisions and assessments . some of these estimates may be uncertain at the time they are made , could change from period to period , and could have a material impact on the financial statements . allowance for loan losses . the company 's allowance for loan loss methodology incorporates a variety of risk considerations , both quantitative and qualitative , in establishing an allowance

