during 2019 , the company continued to focus on executing its strategic plan – known as “ expanding our reach ” – which focuses on the client experience and organic growth across all lines of business . the strategic plan called for expansion of the company 's wealth management business , organically and through wealth business acquisitions , and also expansion of the company 's commercial and industrial ( “ c & i ” ) lending platform , through the use of private bankers , who lead with deposit gathering and wealth management discussions . the following are select highlights for 2019 : at december 31 , 2019 , the market value of assets under management and or administration at peapack private was $ 7.5 billion , reflecting an increase of 29 percent from $ 5.8 billion at december 31 , 2018. fee income from peapack private totaled $ 38.4 million for 2019 , growing from $ 33.2 million for 2018. loans at december 31 , 2019 totaled $ 4.39 billion . this reflected net growth of $ 466.2 million , or 12 percent , from $ 3.93 billion at december 31 , 2018. total c & i loans ( including equipment finance ) at december 31 , 2019 totaled $ 1.76 billion . this reflected net growth of $ 364.7 million , or 26 percent , from $ 1.40 billion at december 31 , 2018. total “ customer ” deposits ( defined as deposits excluding brokered cds and brokered “ overnight ” interest-bearing demand deposits ) at december 31 , 2019 were $ 4.03 billion , reflecting an increase of $ 370.6 million , or 10 percent , when compared to $ 3.66 billion at december 31 , 2018. asset quality metrics continued to be strong at december 31 , 2019. nonperforming assets at december 31 , 2019 were $ 28.9 million , or 0.56 percent of total assets . total loans past due 30 through 89 days and still accruing were $ 1.9 million or 0.04 percent of total loans at december 31 , 2019. the company 's and bank 's capital ratios at december 31 , 2019 remain well above regulatory well capitalized standards . critical accounting policies and estimates : management 's discussion and analysis of financial condition and results of operations is based upon the company 's consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles . the preparation of these financial statements requires the company to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses . note 1 to the company 's consolidated financial statements contains a summary of the company 's significant accounting policies . management believes that the company 's policy with respect to the methodology for the determination of the allowance for loan losses involves a higher degree of complexity and requires management to make difficult and subjective judgments , which often require assumptions or estimates about highly uncertain matters . changes in these judgments , assumptions or estimates could materially impact results of operations . these critical policies and their application are periodically reviewed with the audit committee and the board of directors . 24 the provision for loan losses is based upon management 's evaluation of the adequacy of the allowance , including an assessment of known and inherent risks in the portfolio , giving consideration to the si ze and composition of the loan portfolio , actual loan loss experience , level of delinquencies , detailed analysis of individual loans for which full collectability may not be assured , the existence and estimated fair value of any underlying collateral and g uarantees securing the loans , and current economic and market conditions . although management uses the best information available , the level of the allowance for loan losses remains an estimate , which is subject to significant judgment and change . various regulatory agencies , as an integral part of their examination process , periodically review the company 's allowance for loan losses . such agencies may require the company to make additional provisions for loan losses based upon information available to them at the time of their examination . furthermore , the majority of the company 's loans are secured by real estate in the state of new jersey and the new york city area . accordingly , the collectability of a substantial portion of the carrying value of the com pany 's loan portfolio is susceptible to changes in local market conditions and may experience adverse economic conditions . future adjustments to the provision for loan losses and allowance for loan losses may be necessary due to economic , operating , regula tory and other conditions beyond the company 's control . the company accounts for its securities in accordance with “ accounting for certain investments in debt and equity securities , ” which was codified into accounting standards codification ( “ asc ” ) 320. debt securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity . debt securities are classified as available for sale when they might be sold before maturity due to changes in interest rates , prepayment risk , liquidity or other factors . securities available for sale are carried at fair value , with unrealized holding gains and losses reported in other comprehensive income , net of tax . the company adopted asu 2016-01 “ financial instruments ” which resulted in the reclassification of the cra investment from available for sale to equity securities and a cumulative effect adjustment of $ 127,000 between retained earnings and accumulated other comprehensive income effective january 1 , 2018 . story_separator_special_tag goodwill : at december 31 , 2019 , goodwill totaled $ 30.2 million , an increase of $ 5.8 million from $ 24.4 million at december 31 , 2018. the increase in goodwill was due to the acquisition of point view in september 2019. the bank intends to continue to grow its wealth management business through acquisition , as well as organically . deposits : at december 31 , 2019 and 2018 , the company reported total deposits of $ 4.24 billion and $ 3.90 billion , an increase of $ 348.2 million , or 9 percent , year over year . the company 's strategy is to fund a majority of its loan growth with core deposits , which is an important factor in the generation of net interest income . the company 's average deposits for 2019 increased $ 370.7 million , or 10 percent , over 2018 average levels to $ 4.01 billion . on average , the company saw the largest dollar growth in interest-bearing checking , money market accounts and retail certificates of deposit balances . the company has successfully focused on : growth in deposits associated with its private banking activities , including lending activities ; and business and personal core deposit generation , particularly checking and certificates of deposit . the company continues to maintain brokered interest-bearing demand deposits matched to interest rate swaps , thereby extending their duration . such deposits are generally a more cost-effective alternative to wholesale borrowings and do not require pledging of collateral , as the borrowings do . these deposits remained flat at $ 180.0 million at both december 31 , 2019 and 2018 , respectively . the company ensures ample available collateralized liquidity as a backup to these short-term brokered deposits . at december 31 , 2019 , there were $ 180.0 million of notional principal interest rate swaps matched to these deposits for interest rate risk management purposes . average brokered certificates of deposit were reduced by $ 21.5 million in 2019. the majority of these deposits are longer term and were transacted as part of the company 's interest rate risk management strategy . the following table sets forth information concerning the composition of the company 's average deposit base and average interest rates paid for the following years : replace_table_token_21_th the company is a participant in the reich & tang demand deposit marketplace ( “ ddm ” ) program and the promontory program . the company uses these deposit sweep services to place customer funds into interest-bearing demand ( checking ) accounts issued by other participating banks . customer funds are placed at one or more participating banks to ensure that each deposit customer is eligible for the full amount of fdic insurance . as a program participant , the company receives reciprocal amounts of deposits from other participating banks . reciprocal deposits of $ 423.8 million , $ 434.5 million and $ 359.9 million are included in the company 's interest-bearing checking deposits as of december 31 , 2019 , 2018 , and 2017 , respectively . 36 the following table shows the maturity for certificates of deposit of $ 100,000 or more as of december 31 , 2019 ( in thousands ) : three months or less $ 106,980 over three months through six months 129,700 over six months through twelve months 103,592 over twelve months 139,821 total $ 480,093 federal home loan bank advances and other borrowings : as part of our overall funding and liquidity management program , from time to time we borrow from the federal home loan bank . the following table provides a summary of our fhlb borrowings as of and for the years ended december 31 , 2019 , 2018 and 2017 : replace_table_token_22_th at december 31 , 2019 , fhlb advances were secured by blanket pledges of certain 1-4 family residential mortgages totaling $ 347.5 million and multifamily mortgages totaling $ 773.1 million at december 31 , 2019 , while at december 31 , 2018 , the fixed rate advances were secured by 1-4 family residential mortgages totaling $ 496.1 million and multifamily mortgages totaling $ 1.0 billion . of the fhlb borrowings outstanding as of december 31 , 2019 , $ 113.1 million were short-term borrowings maturing within one year . at december 31 , 2019 , there was $ 113.1 million with a rate of 1.81 percent of overnight borrowings with the fhlb , including a one-month fhlb advance for $ 15 million with a rate of 1.79 percent , which is part of an interest rate swap designated as a cash flow hedge . at december 31 , 2018 , there were no overnight borrowings with the fhlb . at december 31 , 2019 , unused short-term or overnight borrowing commitments totaled $ 1.3 billion from the fhlb , $ 22.0 million from correspondent banks and $ 1.5 billion at the federal reserve bank . story_separator_special_tag style= `` font-size:10pt ; font-family : times new roman ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > b ) home equity lines of credit . the bank provides revolving lines of credit against one to four family residences in the tri-state area . these loans are primarily in a second lien position , but may be used as a first lien , in lieu of a primary residential first mortgage . when reviewing home equity line of credit applications , the bank collects detailed verifiable information regarding income , assets , employment and a single merged credit report that will determine total monthly debt obligations . the bank uses an automated valuation model on all lines up to $ 250,000 and obtains an independent appraisal of the subject property on all applications exceeding $ 250,000. ltvs and combined ltvs are capped at 80 percent or as low as 55 percent depending on the loan amount and whether the property type is primary residence ,

subordinated debt : in june 2016 , the company issued $ 50.0 million in aggregate principal amount of fixed-to-floating subordinated notes ( the “ 2016 notes ” ) to certain institutional investors . the 2016 notes are non-callable for five years , have a stated maturity of june 30 , 2026 , and bear interest at a fixed rate of 6.0 percent per year until june 30 , 2021. from june 30 , 2021 to the maturity date or early redemption date , the interest rate will reset quarterly to a level equal to the then current three-month libor rate plus 485 basis points , payable quarterly in arrears . debt issuance costs incurred totaled $ 1.3 million and are being amortized to maturity . approximately $ 40.0 million of the net proceeds from the sale of the 2016 notes were contributed by the company to the bank in the second quarter of 2016. the remaining funds ( approximately $ 10 million ) were retained by the company for operational purposes . in december 2017 , the company issued $ 35.0 million in aggregate principal amount of fixed-to-floating subordinated notes ( the “ 2017 notes ” ) to certain institutional investors . the 2017 notes are non-callable for five years , have a stated maturity of december 15 , 2027 , and bear interest at a fixed rate of 4.75 percent per year until december 15 , 2022. from december 16 , 2022 to the maturity date or early redemption date , the interest rate will reset quarterly to a level equal to the then current three-month libor rate plus 254 basis points , payable quarterly in arrears . debt issuance costs incurred totaled $ 875 thousand and are being amortized to maturity .


 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.
     ```subordinated debt : in june 2016 , the company issued $ 50.0 million in aggregate principal amount of fixed-to-floating subordinated notes ( the “ 2016 notes ” ) to certain institutional investors . the 2016 notes are non-callable for five years , have a stated maturity of june 30 , 2026 , and bear interest at a fixed rate of 6.0 percent per year until june 30 , 2021. from june 30 , 2021 to the maturity date or early redemption date , the interest rate will reset quarterly to a level equal to the then current three-month libor rate plus 485 basis points , payable quarterly in arrears . debt issuance costs incurred totaled $ 1.3 million and are being amortized to maturity . approximately $ 40.0 million of the net proceeds from the sale of the 2016 notes were contributed by the company to the bank in the second quarter of 2016. the remaining funds ( approximately $ 10 million ) were retained by the company for operational purposes . in december 2017 , the company issued $ 35.0 million in aggregate principal amount of fixed-to-floating subordinated notes ( the “ 2017 notes ” ) to certain institutional investors . the 2017 notes are non-callable for five years , have a stated maturity of december 15 , 2027 , and bear interest at a fixed rate of 4.75 percent per year until december 15 , 2022. from december 16 , 2022 to the maturity date or early redemption date , the interest rate will reset quarterly to a level equal to the then current three-month libor rate plus 254 basis points , payable quarterly in arrears . debt issuance costs incurred totaled $ 875 thousand and are being amortized to maturity .
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 Suspicious Activity Report : during 2019 , the company continued to focus on executing its strategic plan – known as “ expanding our reach ” – which focuses on the client experience and organic growth across all lines of business . the strategic plan called for expansion of the company 's wealth management business , organically and through wealth business acquisitions , and also expansion of the company 's commercial and industrial ( “ c & i ” ) lending platform , through the use of private bankers , who lead with deposit gathering and wealth management discussions . the following are select highlights for 2019 : at december 31 , 2019 , the market value of assets under management and or administration at peapack private was $ 7.5 billion , reflecting an increase of 29 percent from $ 5.8 billion at december 31 , 2018. fee income from peapack private totaled $ 38.4 million for 2019 , growing from $ 33.2 million for 2018. loans at december 31 , 2019 totaled $ 4.39 billion . this reflected net growth of $ 466.2 million , or 12 percent , from $ 3.93 billion at december 31 , 2018. total c & i loans ( including equipment finance ) at december 31 , 2019 totaled $ 1.76 billion . this reflected net growth of $ 364.7 million , or 26 percent , from $ 1.40 billion at december 31 , 2018. total “ customer ” deposits ( defined as deposits excluding brokered cds and brokered “ overnight ” interest-bearing demand deposits ) at december 31 , 2019 were $ 4.03 billion , reflecting an increase of $ 370.6 million , or 10 percent , when compared to $ 3.66 billion at december 31 , 2018. asset quality metrics continued to be strong at december 31 , 2019. nonperforming assets at december 31 , 2019 were $ 28.9 million , or 0.56 percent of total assets . total loans past due 30 through 89 days and still accruing were $ 1.9 million or 0.04 percent of total loans at december 31 , 2019. the company 's and bank 's capital ratios at december 31 , 2019 remain well above regulatory well capitalized standards . critical accounting policies and estimates : management 's discussion and analysis of financial condition and results of operations is based upon the company 's consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles . the preparation of these financial statements requires the company to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses . note 1 to the company 's consolidated financial statements contains a summary of the company 's significant accounting policies . management believes that the company 's policy with respect to the methodology for the determination of the allowance for loan losses involves a higher degree of complexity and requires management to make difficult and subjective judgments , which often require assumptions or estimates about highly uncertain matters . changes in these judgments , assumptions or estimates could materially impact results of operations . these critical policies and their application are periodically reviewed with the audit committee and the board of directors . 24 the provision for loan losses is based upon management 's evaluation of the adequacy of the allowance , including an assessment of known and inherent risks in the portfolio , giving consideration to the si ze and composition of the loan portfolio , actual loan loss experience , level of delinquencies , detailed analysis of individual loans for which full collectability may not be assured , the existence and estimated fair value of any underlying collateral and g uarantees securing the loans , and current economic and market conditions . although management uses the best information available , the level of the allowance for loan losses remains an estimate , which is subject to significant judgment and change . various regulatory agencies , as an integral part of their examination process , periodically review the company 's allowance for loan losses . such agencies may require the company to make additional provisions for loan losses based upon information available to them at the time of their examination . furthermore , the majority of the company 's loans are secured by real estate in the state of new jersey and the new york city area . accordingly , the collectability of a substantial portion of the carrying value of the com pany 's loan portfolio is susceptible to changes in local market conditions and may experience adverse economic conditions . future adjustments to the provision for loan losses and allowance for loan losses may be necessary due to economic , operating , regula tory and other conditions beyond the company 's control . the company accounts for its securities in accordance with “ accounting for certain investments in debt and equity securities , ” which was codified into accounting standards codification ( “ asc ” ) 320. debt securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity . debt securities are classified as available for sale when they might be sold before maturity due to changes in interest rates , prepayment risk , liquidity or other factors . securities available for sale are carried at fair value , with unrealized holding gains and losses reported in other comprehensive income , net of tax . the company adopted asu 2016-01 “ financial instruments ” which resulted in the reclassification of the cra investment from available for sale to equity securities and a cumulative effect adjustment of $ 127,000 between retained earnings and accumulated other comprehensive income effective january 1 , 2018 . story_separator_special_tag goodwill : at december 31 , 2019 , goodwill totaled $ 30.2 million , an increase of $ 5.8 million from $ 24.4 million at december 31 , 2018. the increase in goodwill was due to the acquisition of point view in september 2019. the bank intends to continue to grow its wealth management business through acquisition , as well as organically . deposits : at december 31 , 2019 and 2018 , the company reported total deposits of $ 4.24 billion and $ 3.90 billion , an increase of $ 348.2 million , or 9 percent , year over year . the company 's strategy is to fund a majority of its loan growth with core deposits , which is an important factor in the generation of net interest income . the company 's average deposits for 2019 increased $ 370.7 million , or 10 percent , over 2018 average levels to $ 4.01 billion . on average , the company saw the largest dollar growth in interest-bearing checking , money market accounts and retail certificates of deposit balances . the company has successfully focused on : growth in deposits associated with its private banking activities , including lending activities ; and business and personal core deposit generation , particularly checking and certificates of deposit . the company continues to maintain brokered interest-bearing demand deposits matched to interest rate swaps , thereby extending their duration . such deposits are generally a more cost-effective alternative to wholesale borrowings and do not require pledging of collateral , as the borrowings do . these deposits remained flat at $ 180.0 million at both december 31 , 2019 and 2018 , respectively . the company ensures ample available collateralized liquidity as a backup to these short-term brokered deposits . at december 31 , 2019 , there were $ 180.0 million of notional principal interest rate swaps matched to these deposits for interest rate risk management purposes . average brokered certificates of deposit were reduced by $ 21.5 million in 2019. the majority of these deposits are longer term and were transacted as part of the company 's interest rate risk management strategy . the following table sets forth information concerning the composition of the company 's average deposit base and average interest rates paid for the following years : replace_table_token_21_th the company is a participant in the reich & tang demand deposit marketplace ( “ ddm ” ) program and the promontory program . the company uses these deposit sweep services to place customer funds into interest-bearing demand ( checking ) accounts issued by other participating banks . customer funds are placed at one or more participating banks to ensure that each deposit customer is eligible for the full amount of fdic insurance . as a program participant , the company receives reciprocal amounts of deposits from other participating banks . reciprocal deposits of $ 423.8 million , $ 434.5 million and $ 359.9 million are included in the company 's interest-bearing checking deposits as of december 31 , 2019 , 2018 , and 2017 , respectively . 36 the following table shows the maturity for certificates of deposit of $ 100,000 or more as of december 31 , 2019 ( in thousands ) : three months or less $ 106,980 over three months through six months 129,700 over six months through twelve months 103,592 over twelve months 139,821 total $ 480,093 federal home loan bank advances and other borrowings : as part of our overall funding and liquidity management program , from time to time we borrow from the federal home loan bank . the following table provides a summary of our fhlb borrowings as of and for the years ended december 31 , 2019 , 2018 and 2017 : replace_table_token_22_th at december 31 , 2019 , fhlb advances were secured by blanket pledges of certain 1-4 family residential mortgages totaling $ 347.5 million and multifamily mortgages totaling $ 773.1 million at december 31 , 2019 , while at december 31 , 2018 , the fixed rate advances were secured by 1-4 family residential mortgages totaling $ 496.1 million and multifamily mortgages totaling $ 1.0 billion . of the fhlb borrowings outstanding as of december 31 , 2019 , $ 113.1 million were short-term borrowings maturing within one year . at december 31 , 2019 , there was $ 113.1 million with a rate of 1.81 percent of overnight borrowings with the fhlb , including a one-month fhlb advance for $ 15 million with a rate of 1.79 percent , which is part of an interest rate swap designated as a cash flow hedge . at december 31 , 2018 , there were no overnight borrowings with the fhlb . at december 31 , 2019 , unused short-term or overnight borrowing commitments totaled $ 1.3 billion from the fhlb , $ 22.0 million from correspondent banks and $ 1.5 billion at the federal reserve bank . story_separator_special_tag style= `` font-size:10pt ; font-family : times new roman ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > b ) home equity lines of credit . the bank provides revolving lines of credit against one to four family residences in the tri-state area . these loans are primarily in a second lien position , but may be used as a first lien , in lieu of a primary residential first mortgage . when reviewing home equity line of credit applications , the bank collects detailed verifiable information regarding income , assets , employment and a single merged credit report that will determine total monthly debt obligations . the bank uses an automated valuation model on all lines up to $ 250,000 and obtains an independent appraisal of the subject property on all applications exceeding $ 250,000. ltvs and combined ltvs are capped at 80 percent or as low as 55 percent depending on the loan amount and whether the property type is primary residence ,

