this increase was primarily due to the net impact of ( 1 ) a $ 13.7 million , or 12.0 % , increase in our net interest income ; ( 2 ) an increase in the credit to provision for loan and lease losses of $ 763,000 ; ( 3 ) an increase of $ 4.9 million , or 10.2 % , in non-interest income ; offset by ( 4 ) an increase of $ 11.0 million , or 10.9 % , in our non-interest expense ; ( 5 ) a $ 2.5 million increase in income taxes ; and ( 6 ) an increase in preferred stock dividends of $ 3.6 million . our diluted earnings per share ( “ eps ” ) was $ 1.89 for the year ended december 31 , 2019 , compared to $ 1.81 in 2018 . the increase in diluted eps was a result of the continued growth of our business lines , which was the driver of additional net income available to common shareholders . 45 for the year ended december 31 , 2019 , total revenue increased $ 18.0 million , or 11.2 % , to $ 179.4 million from $ 161.4 million in 2018 , driven largely by higher net interest income and swap fees for the bank . our net interest margin was 1.97 % for the year ended december 31 , 2019 , as compared to 2.26 % in 2018 . the decrease in net interest margin for the year ended december 31 , 2019 , was driven by an increase of 41 basis points in the cost of interest-bearing liabilities , partially offset by an increase of 10 basis points in the yield on loans . our loans are predominantly variable rate loans indexed to 1-month libor and our deposits are a combination of fixed-rate time deposits and variable rate deposits , some of which are indexed or otherwise priced in reference to the effective federal funds rate . when the financial markets anticipate an interest rate cut , libor rates typically decrease in advance of action taken by the federal reserve , which compresses and can invert the historical spread between 1-month libor and the effective federal funds rate . this occurred at certain times during the year ended december 31 , 2019 . in addition , we intentionally increased our liquid assets as a component of our assets and our deposits as portion of our assets for the express purpose of carrying more on balance sheet liquidity . this increased the level of liquid assets that were generating lower returns based on the interest rate environment and interest rate term structure curve . also , certain hedge arrangements that we had in place which provided beneficial pricing on certain liquidity expired in 2019 and could not be replicated in the 2019 interest rate environment . all of this contributed to the compression of our net interest margin , impacted our net interest income and our rate of revenue growth , and affected profitability ratios such as the bank 's efficiency ratio , return on average assets , and return on average common equity . our non-interest income is largely comprised of investment management fees for chartwell , which totaled $ 36.4 million for the year ended december 31 , 2019 , as compared to $ 37.6 million in 2018 . 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 $ 9.70 billion as of december 31 , 2019 , an increase of $ 512.0 million from december 31 , 2018 , driven by market appreciation of $ 1.3 billion , partially offset by net outflows of $ 771.0 million . the non-interest income from the bank 's operations , which consisted of swap fee revenue , loan and service fees , and treasury management program fees , grew to $ 15.5 million from $ 11.0 million in 2018 . for the year ended december 31 , 2019 , the bank 's efficiency ratio was 54.49 % , as compared to 53.09 % in 2018 . the bank 's efficiency ratio reflects growth in the bank 's total revenue of 13.0 % and growth in the bank 's non-interest expense of 16.0 % . non-interest expense was $ 112.1 million for the year ended december 31 , 2019 , which included approximately $ 850,000 of expenses related to the due diligence with an investment management acquisition candidate , which concluded before the parties reached a definitive agreement . our non-interest expense to average assets for the year ended december 31 , 2019 , was 1.66 % , as compared to 1.93 % in 2018 . our return on average assets ( net income to average total assets ) was 0.89 % for the year ended december 31 , 2019 , as compared to 1.04 % in 2018 . our return on average common equity ( net income available to common shareholders to average common equity ) was 11.47 % for the year ended december 31 , 2019 , as compared to 12.57 % in 2018 . total assets of $ 7.77 billion as of december 31 , 2019 , increased $ 1.73 billion , or 28.7 % , from december 31 , 2018 . loans and leases held-for-investment grew by $ 1.44 billion to $ 6.58 billion as of december 31 , 2019 , an increase of 28.1 % from december 31 , 2018 , as a result of growth in our commercial and private banking loan and lease portfolios . total deposits increased $ 1.58 billion , or 31.4 % , to $ 6.63 billion as of december 31 , 2019 , from $ 5.05 billion as of december 31 , 2018 . story_separator_special_tag this increase was primarily related to increases in swap fees and commitment and other loan fees and higher net gain on debt securities , partially offset by lower investment management fees and other income ( loss ) , as follows : bank segment : swap fees increased $ 3.7 million for the year ended december 31 , 2019 , as compared to 2018 , due to an increase in the number of customer swap transactions closed during the year . while level and frequency of income associated with swap transactions can vary materially from period to period based on customers ' expectations of market conditions and term loan originations , there is strong customer demand for long-term interest rate protection in the current interest rate environment and we continue to run the business to increase demand through targeted loan production , enhanced messaging of the opportunity , process optimization and refined emphasis on marketing swaps to a broader portion of our loan portfolio , including loans collateralized by marketable securities . there was a net gain on the sale and call of debt securities of $ 416,000 for the year ended december 31 , 2019 , as compared to a net loss of $ 70,000 for the year ended december 31 , 2018 . commitment and other loan fees increased $ 377,000 for the year ended december 31 , 2019 primarily due to higher unused commitment fee income and other loan fee income due to the continued growth in our loan and lease portfolio . other income ( loss ) decreased $ 165,000 for the year ended december 31 , 2019 , as compared to 2018 , primarily due to a loss on the sale of oreo and lower unrealized gains on swaps . investment management segment : investment management fees decreased $ 1.1 million for the year ended december 31 , 2019 , as compared to 2018 , primarily due to a shift in the asset composition across investment products which resulted in a lower weighted average fee rate of 0.36 % for the year ended december 31 , 2019 , compared to 0.39 % for the year ended december 31 , 2018 , partially offset by higher assets under management of $ 512.0 million . for additional information on assets under management , refer to item 1 , business - investment management products . parent and other other income was comprised of a net gain on equity securities of $ 842,000 for the year ended december 31 , 2019 , as compared to a net loss of $ 773,000 for the year ended december 31 , 2018 . these equity securities were related to our mutual funds invested in short-duration , corporate bonds and mid-cap value equities , which were sold by december 31 , 2019 . 53 the following table presents the components of our non-interest income by operating segment for the years ended december 31 , 2018 and 2017 : replace_table_token_20_th non-interest income for the years ended december 31 , 2018 and 2017 . our non-interest income was $ 47.9 million for the year ended december 31 , 2018 , an increase of $ 951,000 , or 2.0 % , from $ 47.0 million for 2017 . this increase was primarily related to increases in swap fees and investment management fees , partially offset by decreases in net gain ( loss ) on debt securities and other income ( loss ) , as follows : bank segment : swap fees increased $ 2.0 million for the year ended december 31 , 2018 , as compared to 2017 , driven by increases in customer demand for long-term interest rate protection . the level and frequency of income associated with swap transactions can vary materially from period to period based on customers ' expectations of market conditions and loan originations . there was a net loss on the sale and call of debt securities of $ 70,000 for the year ended december 31 , 2018 , as compared to a net gain of $ 310,000 for the year ended december 31 , 2017. other income ( loss ) decreased $ 458,000 for the year ended december 31 , 2018 , as compared to 2017 , primarily due to lower gain on the sale of oreo and lower unrealized gains on swaps . investment management segment : investment management fees increased $ 630,000 for the year ended december 31 , 2018 , as compared to 2017 , which included higher assets under management related to the columbia acquisition , which closed on april 6 , 2018 , and net inflows , partially offset by market depreciation . assets under management were $ 9.19 billion as of december 31 , 2018 , an increase of $ 880.0 million from december 31 , 2017. parent and other other income ( loss ) reflected $ 775,000 of unrealized losses on equity securities for the year ended december 31 , 2018 , related to our mutual funds invested in short-duration , corporate bonds and mid-cap value equities . non-interest expense our non-interest expense represents the operating cost of maintaining and growing our business . the largest portion of non-interest expense for each segment is compensation and employee benefits , which include employee payroll expense as well as the cost of incentive compensation , benefit plans , health insurance and payroll taxes , all of which are impacted by the growth in our employee base , coupled with increases in the level of compensation and benefits of our existing employees . the information provided under the caption “ parent and other ” represents general operating activity of the company not considered to be a reportable segment , which includes parent company activity as well as eliminations and adjustments that are necessary for purposes of reconciliation to the consolidated amounts . 54 the following table presents the components of our non-interest expense by operating segment for the years ended december 31 , 2019 and 2018

. cash and cash equivalents increased $ 213.9 million to $ 403.9 million as of december 31 , 2019 , from $ 190.0 million as of december 31 , 2018 . our asset and liability committee ( “ alco ” ) is responsible for managing the investment portfolio and liquidity of the bank , among other responsibilities . given the current overall interest rate environment and the strength of our loan growth , our alco has kept excess liquidity in interest-earning cash deposits . 57 as of december 31 , 2019 , our total deposits were $ 6.63 billion , an increase of $ 1.58 billion , or 31.4 % , from december 31 , 2018 , and were primarily used to fund loan growth . net borrowings decreased $ 49.2 million , or 12.2 % , to $ 355.0 million as of december 31 , 2019 , compared to $ 404.2 million as of december 31 , 2018 . our shareholders ' equity increased $ 141.9 million to $ 621.3 million as of december 31 , 2019 , compared to $ 479.4 million as of december 31 , 2018 . this increase was primarily the result of the issuance of $ 77.6 million in preferred stock , $ 60.2 million in net income , the impact of $ 8.8 million in stock-based compensation , an increase of $ 2.5 million in other accumulated comprehensive income and $ 900,000 in proceeds from stock option exercises , partially offset by preferred stock dividends declared of $ 5.8 million and the purchase of $ 2.3 million in treasury stock . our total assets as of december 31 , 2018 , were $ 6.04 billion , an increase of $ 1.26 billion , or 26.3


 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.
     ```. cash and cash equivalents increased $ 213.9 million to $ 403.9 million as of december 31 , 2019 , from $ 190.0 million as of december 31 , 2018 . our asset and liability committee ( “ alco ” ) is responsible for managing the investment portfolio and liquidity of the bank , among other responsibilities . given the current overall interest rate environment and the strength of our loan growth , our alco has kept excess liquidity in interest-earning cash deposits . 57 as of december 31 , 2019 , our total deposits were $ 6.63 billion , an increase of $ 1.58 billion , or 31.4 % , from december 31 , 2018 , and were primarily used to fund loan growth . net borrowings decreased $ 49.2 million , or 12.2 % , to $ 355.0 million as of december 31 , 2019 , compared to $ 404.2 million as of december 31 , 2018 . our shareholders ' equity increased $ 141.9 million to $ 621.3 million as of december 31 , 2019 , compared to $ 479.4 million as of december 31 , 2018 . this increase was primarily the result of the issuance of $ 77.6 million in preferred stock , $ 60.2 million in net income , the impact of $ 8.8 million in stock-based compensation , an increase of $ 2.5 million in other accumulated comprehensive income and $ 900,000 in proceeds from stock option exercises , partially offset by preferred stock dividends declared of $ 5.8 million and the purchase of $ 2.3 million in treasury stock . our total assets as of december 31 , 2018 , were $ 6.04 billion , an increase of $ 1.26 billion , or 26.3
```    
 Suspicious Activity Report : this increase was primarily due to the net impact of ( 1 ) a $ 13.7 million , or 12.0 % , increase in our net interest income ; ( 2 ) an increase in the credit to provision for loan and lease losses of $ 763,000 ; ( 3 ) an increase of $ 4.9 million , or 10.2 % , in non-interest income ; offset by ( 4 ) an increase of $ 11.0 million , or 10.9 % , in our non-interest expense ; ( 5 ) a $ 2.5 million increase in income taxes ; and ( 6 ) an increase in preferred stock dividends of $ 3.6 million . our diluted earnings per share ( “ eps ” ) was $ 1.89 for the year ended december 31 , 2019 , compared to $ 1.81 in 2018 . the increase in diluted eps was a result of the continued growth of our business lines , which was the driver of additional net income available to common shareholders . 45 for the year ended december 31 , 2019 , total revenue increased $ 18.0 million , or 11.2 % , to $ 179.4 million from $ 161.4 million in 2018 , driven largely by higher net interest income and swap fees for the bank . our net interest margin was 1.97 % for the year ended december 31 , 2019 , as compared to 2.26 % in 2018 . the decrease in net interest margin for the year ended december 31 , 2019 , was driven by an increase of 41 basis points in the cost of interest-bearing liabilities , partially offset by an increase of 10 basis points in the yield on loans . our loans are predominantly variable rate loans indexed to 1-month libor and our deposits are a combination of fixed-rate time deposits and variable rate deposits , some of which are indexed or otherwise priced in reference to the effective federal funds rate . when the financial markets anticipate an interest rate cut , libor rates typically decrease in advance of action taken by the federal reserve , which compresses and can invert the historical spread between 1-month libor and the effective federal funds rate . this occurred at certain times during the year ended december 31 , 2019 . in addition , we intentionally increased our liquid assets as a component of our assets and our deposits as portion of our assets for the express purpose of carrying more on balance sheet liquidity . this increased the level of liquid assets that were generating lower returns based on the interest rate environment and interest rate term structure curve . also , certain hedge arrangements that we had in place which provided beneficial pricing on certain liquidity expired in 2019 and could not be replicated in the 2019 interest rate environment . all of this contributed to the compression of our net interest margin , impacted our net interest income and our rate of revenue growth , and affected profitability ratios such as the bank 's efficiency ratio , return on average assets , and return on average common equity . our non-interest income is largely comprised of investment management fees for chartwell , which totaled $ 36.4 million for the year ended december 31 , 2019 , as compared to $ 37.6 million in 2018 . 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 $ 9.70 billion as of december 31 , 2019 , an increase of $ 512.0 million from december 31 , 2018 , driven by market appreciation of $ 1.3 billion , partially offset by net outflows of $ 771.0 million . the non-interest income from the bank 's operations , which consisted of swap fee revenue , loan and service fees , and treasury management program fees , grew to $ 15.5 million from $ 11.0 million in 2018 . for the year ended december 31 , 2019 , the bank 's efficiency ratio was 54.49 % , as compared to 53.09 % in 2018 . the bank 's efficiency ratio reflects growth in the bank 's total revenue of 13.0 % and growth in the bank 's non-interest expense of 16.0 % . non-interest expense was $ 112.1 million for the year ended december 31 , 2019 , which included approximately $ 850,000 of expenses related to the due diligence with an investment management acquisition candidate , which concluded before the parties reached a definitive agreement . our non-interest expense to average assets for the year ended december 31 , 2019 , was 1.66 % , as compared to 1.93 % in 2018 . our return on average assets ( net income to average total assets ) was 0.89 % for the year ended december 31 , 2019 , as compared to 1.04 % in 2018 . our return on average common equity ( net income available to common shareholders to average common equity ) was 11.47 % for the year ended december 31 , 2019 , as compared to 12.57 % in 2018 . total assets of $ 7.77 billion as of december 31 , 2019 , increased $ 1.73 billion , or 28.7 % , from december 31 , 2018 . loans and leases held-for-investment grew by $ 1.44 billion to $ 6.58 billion as of december 31 , 2019 , an increase of 28.1 % from december 31 , 2018 , as a result of growth in our commercial and private banking loan and lease portfolios . total deposits increased $ 1.58 billion , or 31.4 % , to $ 6.63 billion as of december 31 , 2019 , from $ 5.05 billion as of december 31 , 2018 . story_separator_special_tag this increase was primarily related to increases in swap fees and commitment and other loan fees and higher net gain on debt securities , partially offset by lower investment management fees and other income ( loss ) , as follows : bank segment : swap fees increased $ 3.7 million for the year ended december 31 , 2019 , as compared to 2018 , due to an increase in the number of customer swap transactions closed during the year . while level and frequency of income associated with swap transactions can vary materially from period to period based on customers ' expectations of market conditions and term loan originations , there is strong customer demand for long-term interest rate protection in the current interest rate environment and we continue to run the business to increase demand through targeted loan production , enhanced messaging of the opportunity , process optimization and refined emphasis on marketing swaps to a broader portion of our loan portfolio , including loans collateralized by marketable securities . there was a net gain on the sale and call of debt securities of $ 416,000 for the year ended december 31 , 2019 , as compared to a net loss of $ 70,000 for the year ended december 31 , 2018 . commitment and other loan fees increased $ 377,000 for the year ended december 31 , 2019 primarily due to higher unused commitment fee income and other loan fee income due to the continued growth in our loan and lease portfolio . other income ( loss ) decreased $ 165,000 for the year ended december 31 , 2019 , as compared to 2018 , primarily due to a loss on the sale of oreo and lower unrealized gains on swaps . investment management segment : investment management fees decreased $ 1.1 million for the year ended december 31 , 2019 , as compared to 2018 , primarily due to a shift in the asset composition across investment products which resulted in a lower weighted average fee rate of 0.36 % for the year ended december 31 , 2019 , compared to 0.39 % for the year ended december 31 , 2018 , partially offset by higher assets under management of $ 512.0 million . for additional information on assets under management , refer to item 1 , business - investment management products . parent and other other income was comprised of a net gain on equity securities of $ 842,000 for the year ended december 31 , 2019 , as compared to a net loss of $ 773,000 for the year ended december 31 , 2018 . these equity securities were related to our mutual funds invested in short-duration , corporate bonds and mid-cap value equities , which were sold by december 31 , 2019 . 53 the following table presents the components of our non-interest income by operating segment for the years ended december 31 , 2018 and 2017 : replace_table_token_20_th non-interest income for the years ended december 31 , 2018 and 2017 . our non-interest income was $ 47.9 million for the year ended december 31 , 2018 , an increase of $ 951,000 , or 2.0 % , from $ 47.0 million for 2017 . this increase was primarily related to increases in swap fees and investment management fees , partially offset by decreases in net gain ( loss ) on debt securities and other income ( loss ) , as follows : bank segment : swap fees increased $ 2.0 million for the year ended december 31 , 2018 , as compared to 2017 , driven by increases in customer demand for long-term interest rate protection . the level and frequency of income associated with swap transactions can vary materially from period to period based on customers ' expectations of market conditions and loan originations . there was a net loss on the sale and call of debt securities of $ 70,000 for the year ended december 31 , 2018 , as compared to a net gain of $ 310,000 for the year ended december 31 , 2017. other income ( loss ) decreased $ 458,000 for the year ended december 31 , 2018 , as compared to 2017 , primarily due to lower gain on the sale of oreo and lower unrealized gains on swaps . investment management segment : investment management fees increased $ 630,000 for the year ended december 31 , 2018 , as compared to 2017 , which included higher assets under management related to the columbia acquisition , which closed on april 6 , 2018 , and net inflows , partially offset by market depreciation . assets under management were $ 9.19 billion as of december 31 , 2018 , an increase of $ 880.0 million from december 31 , 2017. parent and other other income ( loss ) reflected $ 775,000 of unrealized losses on equity securities for the year ended december 31 , 2018 , related to our mutual funds invested in short-duration , corporate bonds and mid-cap value equities . non-interest expense our non-interest expense represents the operating cost of maintaining and growing our business . the largest portion of non-interest expense for each segment is compensation and employee benefits , which include employee payroll expense as well as the cost of incentive compensation , benefit plans , health insurance and payroll taxes , all of which are impacted by the growth in our employee base , coupled with increases in the level of compensation and benefits of our existing employees . the information provided under the caption “ parent and other ” represents general operating activity of the company not considered to be a reportable segment , which includes parent company activity as well as eliminations and adjustments that are necessary for purposes of reconciliation to the consolidated amounts . 54 the following table presents the components of our non-interest expense by operating segment for the years ended december 31 , 2019 and 2018

