this public health crisis has resulted in unprecedented uncertainty , volatility and disruption in financial markets and in governmental , commercial and consumer activity in the united states and globally , including the markets that we serve . in response to the crisis , the board of governors of the federal reserve ( the “ federal reserve ” ) cut benchmark federal fund interest rates to near zero . in addition , in march 2020 , the coronavirus aid , relief , and economic security ( “ cares ” ) act was enacted . the cares act contains substantial tax and spending provisions intended to address the impact of the covid-19 pandemic . at the onset of the pandemic , we pro-actively conducted outreach to all commercial loan customers to understand the potential impact that covid-19 could have on their business . we implemented deferral arrangements in accordance with the cares act and bank 53 regulatory guidance . the majority of our deferrals have already resumed payment . only 13 loans representing $ 84.5 million , or 1 % of total loans had not yet resumed payment at december 31 , 2020 , which was ahead of our previous forecasts . while this crisis may have substantial impact on many businesses , we have maintained our disciplined approach of focusing on commercial lending opportunities within our four-state mid-atlantic region and financial services companies where our team has deep experience and relationships . additionally , we have worked to keep our commercial loan sizes predominately below our preferred hold level of $ 10.0 million . the bank is not a qualified lender or additional lender registered with the small business administration and is not participating in the paycheck protection program , established by the cares act . 2020 compared to 2019 operating performance for the year ended december 31 , 2020 , our net income available to common shareholders was $ 37.4 million compared to $ 54.4 million in 2019 , a decrease of $ 17.1 million , or 31.4 % . our diluted earnings per share ( “ eps ” ) was $ 1.30 for the year ended december 31 , 2020 , compared to $ 1.89 in 2019 . this decrease in net income and eps was primarily due to an increase in provision for credit losses of $ 20.4 million , an increase of $ 11.0 million , or 9.8 % , in our non-interest expense and an increase in preferred stock dividends of $ 2.1 million , partially offset by the net impact of $ 10.9 million , or 8.6 % , increase in our net interest income , an increase of $ 4.4 million , or 8.4 % , in non-interest income and a $ 1.1 million decrease in income taxes . net interest income and non-interest income , excluding net gains and losses on the sale of securities , combined to generate total revenue of $ 191.2 million for the year ended december 31 , 2020 , compared to $ 179.4 million in 2019. the increase of $ 11.8 million , or 6.6 % was driven largely by higher net interest income and swap fees for the bank as a result of loan growth , partially offset by lower investment management fees . our net interest margin was 1.58 % for the year ended december 31 , 2020 , as compared to 1.97 % in 2019. the decrease in net interest margin for the year ended december 31 , 2020 , resulted from the federal reserve interest rate cuts , contributing to lower net interest spread , and higher average balances of lower-earning assets . this included excess liquidity in interest-bearing cash deposits and investments during certain times of the year in anticipation of clients ' potential liquidity and credit needs during the covid-19 . the significant reduction in interest rates by the federal reserve in response to the covid-19 pandemic impacted our interest-earning assets and interest-bearing liabilities . our loans are predominantly variable rate loans indexed to 1-month libor . at the end of the first quarter of 2020 , we placed interest rate floors on many of these floating rate loans , particularly our private banking loans . our deposits are a combination of fixed-rate time deposits and variable rate deposits , many of which are indexed to the effective federal funds rate and others that are priced at the bank 's discretion . the majority of the floating rate deposits were initially repriced in march 2020 , in line with the federal reserve rate reduction . in addition , we intentionally increased our liquid assets for the express purpose of carrying more on balance sheet liquidity in anticipation of clients ' needs during the first six months of the covid-19 pandemic . even though we continued to reduce our cost of deposits , as well as excess deposit levels , throughout the year . these carrying costs resulted in marginally lower returns based on the interest rate environment . our non-interest income is largely comprised of investment management fees for chartwell , which totaled $ 32.0 million for the year ended december 31 , 2020 , as compared to $ 36.4 million in 2019. the decrease was driven by a lower weighted average fee rate from the change in asset composition across investment products , partially offset by higher assets under management . assets under management were $ 10.26 billion as of december 31 , 2020 , an increase of $ 562.0 million from december 31 , 2019 , driven by market appreciation of $ 410.0 million , and net inflows of $ 152.0 million . another large component of our non- interest income are swap fees at the bank , which totaled $ 16.3 million for the year ended december 31 , 2020 , as compared to $ 11.0 million for the same period in 2019 , due to an increase in swap transactions from both new and existing customers . story_separator_special_tag the increase in net interest income reflects an increase of $ 62.7 million , or 31.3 % , in interest income , partially offset by an increase of $ 49.0 million , or 56.7 % , in interest expense . net interest margin decreased to 1.97 % for the year ended december 31 , 2019 , as compared to 2.26 % in 2018 , driven higher costs of funds , partially offset by a higher yield on our loan portfolio . the increase in interest income on interest-earning assets was primarily the result of an increase in average total loans , which are our primary earning assets , of $ 1.17 billion , or 26.0 % and an increase of 10 basis points in yield on our loans . the yield on our loan portfolio was primarily driven by the direction and timing of the federal reserve 's target federal funds rate changes , which impacted our floating-rate loans . the change in yield is also attributable to our continuing gradual shift towards lower-risk marketable-securities-backed private banking loans and commercial loans . the overall yield on interest-earning assets increased 8 basis points to 4.06 % for the year ended december 31 , 2019 , as compared to 3.98 % in 2018 , primarily from the higher loan yields . the increase in interest expense on interest-bearing liabilities was primarily the result of an increase of 41 basis points in the average rate paid on our average interest-bearing liabilities , as well as an increase of $ 1.31 billion , or 29.2 % , in average interest-bearing liabilities for the year ended december 31 , 2019 , compared to 2018 . the increase in average rate paid was reflective of increases in rates paid in all interest-bearing deposit categories , fhlb borrowings and line of credit borrowings , which was driven by the direction and timing of the federal reserve 's target federal funds rate changes , which impacted our variable-rate liabilities . the increase in average interest-bearing liabilities was driven primarily by an increase of $ 514.3 million in average money market deposit accounts , an increase of $ 445.1 million in average interest-bearing checking accounts and an increase of $ 299.5 million in average certificates of deposit . 58 the following tables analyze the dollar amount of the change in interest income and interest expense with respect to the primary components of interest-earning assets and interest-bearing liabilities . the tables show the amount of the change in interest income or interest expense caused by either changes in outstanding balances or changes in interest rates for the periods indicated . the effect of changes in balance is measured by applying the average rate during the first period to the balance ( “ volume ” ) change between the two periods . the effect of changes in rate is measured by applying the change in rate between the two periods to the average volume during the first period . replace_table_token_18_th ( 1 ) the change in interest income and expense due to changes in both composition and applicable yields/rates has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each . 59 replace_table_token_19_th ( 1 ) the change in interest income and expense due to changes in both composition and applicable yields/rates has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each . provision for credit losses on loans and leases the provision for credit losses on loans and leases represent our determination of the amount necessary to be recorded against the current period 's earnings to maintain the allowance for credit loss at a level that is consistent with management 's assessment of credit losses in the loan and lease portfolio at a specific point in time . we adopted cecl on december 31 , 2020 , which replaced the incurred loss methodology for determining our provision for credit losses and allowance for credit losses . we recorded a net decrease to retained earnings of $ 942,000 related to the allowance for credit losses on loans and leases as of january 1 , 2020 , for the cumulative effect of adopting cecl . results for full year and period end december 31 , 2020 , are presented under cecl methodology while prior period amounts continue to be reported in accordance with previously applicable gaap . for additional information regarding our allowance for credit losses on loans and leases , see “ allowance for credit losses on loans and leases . ” we recorded a provision for credit losses on loans and leases of $ 19.3 million for the year ended december 31 , 2020 , compared to a credit to provision for loan losses of $ 968,000 for the year ended december 31 , 2019 , and a credit to provision for loan losses of $ 205,000 for the year ended december 31 , 2018. the provision for credit losses on loans and leases for the year ended december 31 , 2020 , was comprised of an increase in general reserves of $ 18.7 million largely due to adjustments to the macro-economic forecast data such as gross domestic product ( “ gdp ” ) and unemployment in response to economic uncertainty around the covid-19 pandemic and an increase of $ 1.8 million in specific reserves on non-performing loans , largely driven by new non-accrual loans in our commercial and industrial and commercial real estate portfolios . the credit to provision for loan and lease losses for the year ended december 31 , 2019 , was comprised of recoveries of $ 2.0 million related to commercial and industrial loans and a net decrease of $ 266,000 in specific reserves primarily due to paydowns of these non-performing loans and collateral related to an impaired loan that was transferred to other real estate owned ( “ oreo ”

capital resources the access to and cost of funding for new business initiatives , the ability to engage in expanded business activities , the ability to pay dividends , the level of deposit insurance costs and the level and nature of regulatory oversight depend , in part , on our capital position . the company filed a shelf registration statement on form s-3 with the sec on december 26 , 2019 , which provides a means to allow us to issue registered securities to finance our growth objectives . the assessment of capital adequacy depends on a number of factors , including asset quality , liquidity , earnings performance , changing competitive conditions and economic forces . we seek to maintain a strong capital base to support our growth and expansion activities , to provide stability to current operations and to promote public confidence in our company . shareholders ' equity . shareholders ' equity increased to $ 757.1 million as of december 31 , 2020 , compared to $ 621.3 million as of december 31 , 2019 . the $ 135.9 million increase during the year ended december 31 , 2020 , was primarily attributable to the issuance of $ 100.0 million in stock , net income of $ 45.2 million and the impact of $ 9.5 million in stock-based compensation , partially offset by preferred stock dividends declared of $ 7.9 million , a decrease of $ 3.8 million in accumulated other comprehensive income , the purchase of $ 3.6 million in treasury stock , $ 2.5 million in cancellation of stock options and $ 1.7 million related to our adoption of cecl on december 31 , 2020 . shareholders ' equity increased to $ 621.3 million as of december 31 , 2019 , compared to $ 479.4 million as of december 31 , 2018 .


 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.
     ```capital resources the access to and cost of funding for new business initiatives , the ability to engage in expanded business activities , the ability to pay dividends , the level of deposit insurance costs and the level and nature of regulatory oversight depend , in part , on our capital position . the company filed a shelf registration statement on form s-3 with the sec on december 26 , 2019 , which provides a means to allow us to issue registered securities to finance our growth objectives . the assessment of capital adequacy depends on a number of factors , including asset quality , liquidity , earnings performance , changing competitive conditions and economic forces . we seek to maintain a strong capital base to support our growth and expansion activities , to provide stability to current operations and to promote public confidence in our company . shareholders ' equity . shareholders ' equity increased to $ 757.1 million as of december 31 , 2020 , compared to $ 621.3 million as of december 31 , 2019 . the $ 135.9 million increase during the year ended december 31 , 2020 , was primarily attributable to the issuance of $ 100.0 million in stock , net income of $ 45.2 million and the impact of $ 9.5 million in stock-based compensation , partially offset by preferred stock dividends declared of $ 7.9 million , a decrease of $ 3.8 million in accumulated other comprehensive income , the purchase of $ 3.6 million in treasury stock , $ 2.5 million in cancellation of stock options and $ 1.7 million related to our adoption of cecl on december 31 , 2020 . shareholders ' equity increased to $ 621.3 million as of december 31 , 2019 , compared to $ 479.4 million as of december 31 , 2018 .
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 Suspicious Activity Report : this public health crisis has resulted in unprecedented uncertainty , volatility and disruption in financial markets and in governmental , commercial and consumer activity in the united states and globally , including the markets that we serve . in response to the crisis , the board of governors of the federal reserve ( the “ federal reserve ” ) cut benchmark federal fund interest rates to near zero . in addition , in march 2020 , the coronavirus aid , relief , and economic security ( “ cares ” ) act was enacted . the cares act contains substantial tax and spending provisions intended to address the impact of the covid-19 pandemic . at the onset of the pandemic , we pro-actively conducted outreach to all commercial loan customers to understand the potential impact that covid-19 could have on their business . we implemented deferral arrangements in accordance with the cares act and bank 53 regulatory guidance . the majority of our deferrals have already resumed payment . only 13 loans representing $ 84.5 million , or 1 % of total loans had not yet resumed payment at december 31 , 2020 , which was ahead of our previous forecasts . while this crisis may have substantial impact on many businesses , we have maintained our disciplined approach of focusing on commercial lending opportunities within our four-state mid-atlantic region and financial services companies where our team has deep experience and relationships . additionally , we have worked to keep our commercial loan sizes predominately below our preferred hold level of $ 10.0 million . the bank is not a qualified lender or additional lender registered with the small business administration and is not participating in the paycheck protection program , established by the cares act . 2020 compared to 2019 operating performance for the year ended december 31 , 2020 , our net income available to common shareholders was $ 37.4 million compared to $ 54.4 million in 2019 , a decrease of $ 17.1 million , or 31.4 % . our diluted earnings per share ( “ eps ” ) was $ 1.30 for the year ended december 31 , 2020 , compared to $ 1.89 in 2019 . this decrease in net income and eps was primarily due to an increase in provision for credit losses of $ 20.4 million , an increase of $ 11.0 million , or 9.8 % , in our non-interest expense and an increase in preferred stock dividends of $ 2.1 million , partially offset by the net impact of $ 10.9 million , or 8.6 % , increase in our net interest income , an increase of $ 4.4 million , or 8.4 % , in non-interest income and a $ 1.1 million decrease in income taxes . net interest income and non-interest income , excluding net gains and losses on the sale of securities , combined to generate total revenue of $ 191.2 million for the year ended december 31 , 2020 , compared to $ 179.4 million in 2019. the increase of $ 11.8 million , or 6.6 % was driven largely by higher net interest income and swap fees for the bank as a result of loan growth , partially offset by lower investment management fees . our net interest margin was 1.58 % for the year ended december 31 , 2020 , as compared to 1.97 % in 2019. the decrease in net interest margin for the year ended december 31 , 2020 , resulted from the federal reserve interest rate cuts , contributing to lower net interest spread , and higher average balances of lower-earning assets . this included excess liquidity in interest-bearing cash deposits and investments during certain times of the year in anticipation of clients ' potential liquidity and credit needs during the covid-19 . the significant reduction in interest rates by the federal reserve in response to the covid-19 pandemic impacted our interest-earning assets and interest-bearing liabilities . our loans are predominantly variable rate loans indexed to 1-month libor . at the end of the first quarter of 2020 , we placed interest rate floors on many of these floating rate loans , particularly our private banking loans . our deposits are a combination of fixed-rate time deposits and variable rate deposits , many of which are indexed to the effective federal funds rate and others that are priced at the bank 's discretion . the majority of the floating rate deposits were initially repriced in march 2020 , in line with the federal reserve rate reduction . in addition , we intentionally increased our liquid assets for the express purpose of carrying more on balance sheet liquidity in anticipation of clients ' needs during the first six months of the covid-19 pandemic . even though we continued to reduce our cost of deposits , as well as excess deposit levels , throughout the year . these carrying costs resulted in marginally lower returns based on the interest rate environment . our non-interest income is largely comprised of investment management fees for chartwell , which totaled $ 32.0 million for the year ended december 31 , 2020 , as compared to $ 36.4 million in 2019. the decrease was driven by a lower weighted average fee rate from the change in asset composition across investment products , partially offset by higher assets under management . assets under management were $ 10.26 billion as of december 31 , 2020 , an increase of $ 562.0 million from december 31 , 2019 , driven by market appreciation of $ 410.0 million , and net inflows of $ 152.0 million . another large component of our non- interest income are swap fees at the bank , which totaled $ 16.3 million for the year ended december 31 , 2020 , as compared to $ 11.0 million for the same period in 2019 , due to an increase in swap transactions from both new and existing customers . story_separator_special_tag the increase in net interest income reflects an increase of $ 62.7 million , or 31.3 % , in interest income , partially offset by an increase of $ 49.0 million , or 56.7 % , in interest expense . net interest margin decreased to 1.97 % for the year ended december 31 , 2019 , as compared to 2.26 % in 2018 , driven higher costs of funds , partially offset by a higher yield on our loan portfolio . the increase in interest income on interest-earning assets was primarily the result of an increase in average total loans , which are our primary earning assets , of $ 1.17 billion , or 26.0 % and an increase of 10 basis points in yield on our loans . the yield on our loan portfolio was primarily driven by the direction and timing of the federal reserve 's target federal funds rate changes , which impacted our floating-rate loans . the change in yield is also attributable to our continuing gradual shift towards lower-risk marketable-securities-backed private banking loans and commercial loans . the overall yield on interest-earning assets increased 8 basis points to 4.06 % for the year ended december 31 , 2019 , as compared to 3.98 % in 2018 , primarily from the higher loan yields . the increase in interest expense on interest-bearing liabilities was primarily the result of an increase of 41 basis points in the average rate paid on our average interest-bearing liabilities , as well as an increase of $ 1.31 billion , or 29.2 % , in average interest-bearing liabilities for the year ended december 31 , 2019 , compared to 2018 . the increase in average rate paid was reflective of increases in rates paid in all interest-bearing deposit categories , fhlb borrowings and line of credit borrowings , which was driven by the direction and timing of the federal reserve 's target federal funds rate changes , which impacted our variable-rate liabilities . the increase in average interest-bearing liabilities was driven primarily by an increase of $ 514.3 million in average money market deposit accounts , an increase of $ 445.1 million in average interest-bearing checking accounts and an increase of $ 299.5 million in average certificates of deposit . 58 the following tables analyze the dollar amount of the change in interest income and interest expense with respect to the primary components of interest-earning assets and interest-bearing liabilities . the tables show the amount of the change in interest income or interest expense caused by either changes in outstanding balances or changes in interest rates for the periods indicated . the effect of changes in balance is measured by applying the average rate during the first period to the balance ( “ volume ” ) change between the two periods . the effect of changes in rate is measured by applying the change in rate between the two periods to the average volume during the first period . replace_table_token_18_th ( 1 ) the change in interest income and expense due to changes in both composition and applicable yields/rates has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each . 59 replace_table_token_19_th ( 1 ) the change in interest income and expense due to changes in both composition and applicable yields/rates has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each . provision for credit losses on loans and leases the provision for credit losses on loans and leases represent our determination of the amount necessary to be recorded against the current period 's earnings to maintain the allowance for credit loss at a level that is consistent with management 's assessment of credit losses in the loan and lease portfolio at a specific point in time . we adopted cecl on december 31 , 2020 , which replaced the incurred loss methodology for determining our provision for credit losses and allowance for credit losses . we recorded a net decrease to retained earnings of $ 942,000 related to the allowance for credit losses on loans and leases as of january 1 , 2020 , for the cumulative effect of adopting cecl . results for full year and period end december 31 , 2020 , are presented under cecl methodology while prior period amounts continue to be reported in accordance with previously applicable gaap . for additional information regarding our allowance for credit losses on loans and leases , see “ allowance for credit losses on loans and leases . ” we recorded a provision for credit losses on loans and leases of $ 19.3 million for the year ended december 31 , 2020 , compared to a credit to provision for loan losses of $ 968,000 for the year ended december 31 , 2019 , and a credit to provision for loan losses of $ 205,000 for the year ended december 31 , 2018. the provision for credit losses on loans and leases for the year ended december 31 , 2020 , was comprised of an increase in general reserves of $ 18.7 million largely due to adjustments to the macro-economic forecast data such as gross domestic product ( “ gdp ” ) and unemployment in response to economic uncertainty around the covid-19 pandemic and an increase of $ 1.8 million in specific reserves on non-performing loans , largely driven by new non-accrual loans in our commercial and industrial and commercial real estate portfolios . the credit to provision for loan and lease losses for the year ended december 31 , 2019 , was comprised of recoveries of $ 2.0 million related to commercial and industrial loans and a net decrease of $ 266,000 in specific reserves primarily due to paydowns of these non-performing loans and collateral related to an impaired loan that was transferred to other real estate owned ( “ oreo ”

