the loan portfolio also represents the largest asset type on the balance sheet . note 1 describes the methodology used to determine the allowance for loan losses . a discussion of the factors driving changes in the amount of the allowance for loan losses is included in the “ provision and allowance for loan losses ” section of management 's discussion and analysis . management , with the assistance of a third party , evaluates goodwill and identifiable intangible assets for impairment annually using valuation techniques that involve observations and adjustments as to comparable transactions , estimates for discount rates , projected future cash flows and time period calculations , all of which are susceptible to change based on changes in economic conditions and other factors . for both goodwill and for the core deposit intangible , the comparable transaction methodology was used to assess , and conclude that there was no impairment at december 31,2016. future events , or changes in the estimates , which are used to determine the carrying value of goodwill and identifiable intangible assets or which otherwise adversely affect their value or estimated lives could have a material adverse impact on the results of operations . 22 management evaluates securities for other-than-temporary impairment giving consideration to the extent to which the fair value has been less than cost , estimates of future cash flows , delinquencies and default severity , and the intent and ability of salisbury to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value . the consideration of the above factors is subjective and involves estimates and assumptions about matters that are inherently uncertain . should actual factors and conditions differ materially from those used by management , the actual realization of gains or losses on investment securities could differ materially from the amounts recorded in the financial statements . overview and highlights selected 2016 highlights are as follows : net income allocated to common stock was $ 6.6 million , or $ 2.43 per common share , for december 31 , 2016 , compared with $ 8.3 million , or $ 3.04 per common share , for december 31 , 2015 total assets increased $ 44 million , or 5.0 % , as compared with december 31 , 2015 net loans increased $ 64 million , or 9.2 % , as compared to year end december 31 , 2015 total deposits increased $ 27 million , or 3.6 % as compared with year end december 31 , 2015 non-performing loans as a percentage of gross loans receivable decreased year over year to 1.14 % as compared with 2.31 % at year end december 31 , 2015 book value per share of $ 34.08 increased $ 0.95 , or 3 % as compared with year end december 31 , 2015 tangible book value per share of $ 28.90 represents an increase of $ 1.21 , or 4 % as compared with year end december 31 , 2015 the following discussion and analysis of salisbury 's consolidated results of operations should be read in conjunction with the consolidated financial statements and footnotes . results of operations comparison of the years ended december 31 , 2016 and 2015 net interest and dividend income net interest and dividend income ( presented on a tax-equivalent basis ) decreased $ 995,000 in 2016 over 2015. the net interest margin decreased 30 basis points to 3.69 % from 3.99 % , due to a 23 basis point decrease in the average yield on interest-earning assets and an 11 basis point increase in the average cost of interest-bearing liabilities . the net interest margin is affected by changes in the mix of interest-earning assets and funding liabilities , asset and liability growth , and the effects of changes in market interest rates on the pricing and re-pricing of assets and liabilities . the following table sets forth the components of salisbury 's net interest income and yields on average interest-earning assets and interest-bearing funds . income and yields on tax-exempt securities are presented on a fully taxable equivalent basis . 23 replace_table_token_3_th ( a ) includes non-accrual loans . ( b ) includes interest-bearing deposits in other banks and federal funds sold . ( c ) average balances of securities are based on amortized cost . ( d ) includes tax exempt income of $ 1,205,000 , $ 1,205,000 and $ 1,295,000 , respectively for 2016 , 2015 and 2014 on tax-exempt securities and loans whose income and yields are calculated on a tax-equivalent basis ( e ) net interest income divided by average interest-earning assets . ( f ) interest income for 2016 and 2015 reflect net accretion related to the fair value adjustmentsof loans acquired in the riverside bank acquisition in the amount of $ 1.8 million and $ 2.7million respectively . 24 the following table sets forth the changes in net interest income ( presented on a tax-equivalent basis ) due to volume and rate . replace_table_token_4_th net interest and dividend income represents the difference between interest and dividends earned on loans and securities and interest expense incurred on deposits and borrowings . the level of net interest income is a function of volume , rates and mix of both earning assets and interest-bearing liabilities . net interest income can be affected by changes in interest rate levels , changes in the volume of assets and liabilities that are subject to re-pricing within different future time periods , and in the level of non-performing assets . interest and dividend income tax equivalent interest and dividend income decreased $ 0.2 million , or 0.5 % , to $ 35.6 million in 2016. loan income increased $ 0.5 million , or 1.6 % , primarily due to a $ 58.2 million , or 8.5 % , increase in average loans , partially offset by a 29 basis point decrease in average yield . story_separator_special_tag data processing expense increased $ 175,000 mainly as a result of increased volume due to the riverside bank merger . professional fees increased $ 819,000 primarily due to increased consulting ( core conversion , technology support , and imaging projects ) , legal , and merger related auditing services . collections , oreo and appraisal expenses increased $ 109,000 mainly due to delinquent real estate taxes paid on acquired loans , partially offset by lower collection costs . amortization of intangible assets increased $ 361,000 reflecting the increased intangible asset related to the sharon branch acquisition and the riverside bank merger . fdic insurance increased $ 197,000 due to the increase in assets mainly related to the riverside bank merger . marketing and community support increased $ 197,000 mainly related to the acquired branches . 2014 merger and acquisition related expenses were primarily related to legal fees , consulting , and data conversion expenses . all other operating expenses increased $ 324,000. income taxes the effective income tax rates for 2015 and 2014 were 29.64 % and 19.49 % , respectively . fluctuations in the effective tax rate result from changes in the mix of taxable and tax exempt income . salisbury 's effective tax rate was less than the 34 % federal statutory rate due to tax-exempt income , primarily from municipal bonds , tax advantaged loans and bank-owned life insurance . for further information on income taxes , see note 12 of notes to consolidated financial statements . 30 salisbury did not incur connecticut income tax in 2015 or 2014 , other than minimum state income tax , as a result of a connecticut law that permits banks to shelter certain mortgage income from the connecticut corporation business tax through the use of a special purpose entity called a passive investment company or pic . in 2004 , salisbury availed itself of this benefit by forming a pic , sbt mortgage service corporation . salisbury 's income tax provision reflects the full impact of the connecticut legislation . salisbury does not expect to pay other than minimum state income tax in the foreseeable future unless there is a change in connecticut tax law . overview assets during 2016 , salisbury 's assets increased by $ 44.2 million to $ 935.4 million , while net loans increased $ 64.2 million at december 31 , 2016. at december 31 , 2016 , salisbury 's tangible book value per common share was $ 28.90 and tier 1 leverage and total risk-based capital ratios were 8.69 % and 13.26 % , respectively . as of december 31 , 2016 , the bank was categorized as `` well capitalized . `` securities and short term funds during 2016 , securities increased $ 3.0 million to $ 82.8 million , while short-term funds ( interest-bearing deposits with other banks ) decreased $ 17.2 million to $ 30.1 million . the carrying values of securities are as follows : replace_table_token_11_th salisbury evaluates securities for otti where the fair value of a security is less than its amortized cost basis at the balance sheet date . as part of this process , salisbury considers whether it has the intent to sell each debt security and whether it is more likely than not that it will be required to sell the security before its anticipated recovery . if either of these conditions is met , salisbury recognizes an otti charge to earnings equal to the entire difference between the security 's amortized cost basis and its fair value at the balance sheet date . for securities that meet neither of these conditions , an analysis is performed to determine if any of these securities are at risk for otti . salisbury evaluates securities for strategic fit and may reduce its position in securities , although it is not more likely than not that salisbury will be required to sell these securities before recovery of their cost basis , which may be maturity , and does not intend to sell these securities . therefore , management does not consider any of its securities , other than one non-agency cmo security reflecting otti , to be otti at december 31 , 2016. in 2009 salisbury determined that five non-agency cmo securities reflected otti and recognized losses for deterioration in credit quality of $ 1,128,000. salisbury deemed the four remaining securities not to have additional otti and all other cmo securities not to be otti as of december 31 , 2016. it is possible that future loss assumptions could change necessitating salisbury to recognize future otti . salisbury evaluates securities for strategic fit and may reduce its position in securities , although it is not more likely than not that salisbury will be required to sell securities before recovery of their cost basis , which may be maturity . the carrying value of such securities judged to be otti are as follows : replace_table_token_12_th accumulated other comprehensive income at december 31 , 2016 included net unrealized holding gains , net of tax , of $ 0.5 million , which is a decrease of $ 0.6 million from december 31 , 2015 . 31 loans during 2016 , net loans receivable increased $ 64.2 million , or 9.2 % , to $ 763.2 million at december 31 , 2016. portfolio growth during 2016 reflects salisbury 's strong market presence . salisbury 's retail lending department originates residential mortgage , home equity loans and lines of credit , and consumer loans for the portfolio . during 2016 , salisbury originated $ 70.5 million of residential mortgage loans and $ 7.8 million of home equity loans for the portfolio , compared with $ 48.0 million and $ 8.1 million , respectively , in 2015. during 2016 , total residential mortgage and home equity loans receivable grew by $ 36.3 million to $ 361.2 million at december 31 , 2016 , and represent 47.0 % of loans receivable . during 2016 , salisbury 's

liquidity salisbury manages its liquidity position to ensure it has sufficient funding availability at all times to meet both anticipated and unanticipated deposit withdrawals , loan originations and advances , securities purchases and other operating cash outflows . salisbury 's primary source of liquidity is deposits and though its preferred funding strategy is to attract and retain low cost deposits , its ability to do so is affected by competitive interest rates and terms in its marketplace , and other financial market conditions . other sources of funding include cash flows from loan and securities principal payments and maturities , funds provided by operations , and discretionary use of national market certificates of deposit and fhlbb advances . liquidity can also be provided through sales of securities and loans . salisbury manages its liquidity in accordance with a liquidity funding policy , and also maintains a contingency funding plan that provides for the prompt and comprehensive response to unexpected demands for liquidity . at december 31 , 2016 , salisbury 's liquidity ratio , as represented by cash , short term available-for-sale securities and marketable assets to net deposits and short term unsecured liabilities , was 21.89 % , down from 22.67 % at december 31 , 2015. management believes salisbury 's funding sources will meet anticipated funding needs . operating activities for 2016 provided net cash of $ 11.3 million . investing activities utilized net cash of $ 74.0 million , principally from loan originations and principal collections of $ 69.2 million and purchases of securities of $ 56.2 million , offset by sales , calls , and maturities of securities of $ 52.7 million . financing activities provided net cash of $ 36.1 million , principally from a net deposit increase of $ 33.9 million and an fhlbb advance of $ 10 million , offset by a non- time deposits decrease of $ 6.6 million . operating activities for 2015 provided net cash of $ 8.1 million .


 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 salisbury manages its liquidity position to ensure it has sufficient funding availability at all times to meet both anticipated and unanticipated deposit withdrawals , loan originations and advances , securities purchases and other operating cash outflows . salisbury 's primary source of liquidity is deposits and though its preferred funding strategy is to attract and retain low cost deposits , its ability to do so is affected by competitive interest rates and terms in its marketplace , and other financial market conditions . other sources of funding include cash flows from loan and securities principal payments and maturities , funds provided by operations , and discretionary use of national market certificates of deposit and fhlbb advances . liquidity can also be provided through sales of securities and loans . salisbury manages its liquidity in accordance with a liquidity funding policy , and also maintains a contingency funding plan that provides for the prompt and comprehensive response to unexpected demands for liquidity . at december 31 , 2016 , salisbury 's liquidity ratio , as represented by cash , short term available-for-sale securities and marketable assets to net deposits and short term unsecured liabilities , was 21.89 % , down from 22.67 % at december 31 , 2015. management believes salisbury 's funding sources will meet anticipated funding needs . operating activities for 2016 provided net cash of $ 11.3 million . investing activities utilized net cash of $ 74.0 million , principally from loan originations and principal collections of $ 69.2 million and purchases of securities of $ 56.2 million , offset by sales , calls , and maturities of securities of $ 52.7 million . financing activities provided net cash of $ 36.1 million , principally from a net deposit increase of $ 33.9 million and an fhlbb advance of $ 10 million , offset by a non- time deposits decrease of $ 6.6 million . operating activities for 2015 provided net cash of $ 8.1 million .
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 Suspicious Activity Report : the loan portfolio also represents the largest asset type on the balance sheet . note 1 describes the methodology used to determine the allowance for loan losses . a discussion of the factors driving changes in the amount of the allowance for loan losses is included in the “ provision and allowance for loan losses ” section of management 's discussion and analysis . management , with the assistance of a third party , evaluates goodwill and identifiable intangible assets for impairment annually using valuation techniques that involve observations and adjustments as to comparable transactions , estimates for discount rates , projected future cash flows and time period calculations , all of which are susceptible to change based on changes in economic conditions and other factors . for both goodwill and for the core deposit intangible , the comparable transaction methodology was used to assess , and conclude that there was no impairment at december 31,2016. future events , or changes in the estimates , which are used to determine the carrying value of goodwill and identifiable intangible assets or which otherwise adversely affect their value or estimated lives could have a material adverse impact on the results of operations . 22 management evaluates securities for other-than-temporary impairment giving consideration to the extent to which the fair value has been less than cost , estimates of future cash flows , delinquencies and default severity , and the intent and ability of salisbury to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value . the consideration of the above factors is subjective and involves estimates and assumptions about matters that are inherently uncertain . should actual factors and conditions differ materially from those used by management , the actual realization of gains or losses on investment securities could differ materially from the amounts recorded in the financial statements . overview and highlights selected 2016 highlights are as follows : net income allocated to common stock was $ 6.6 million , or $ 2.43 per common share , for december 31 , 2016 , compared with $ 8.3 million , or $ 3.04 per common share , for december 31 , 2015 total assets increased $ 44 million , or 5.0 % , as compared with december 31 , 2015 net loans increased $ 64 million , or 9.2 % , as compared to year end december 31 , 2015 total deposits increased $ 27 million , or 3.6 % as compared with year end december 31 , 2015 non-performing loans as a percentage of gross loans receivable decreased year over year to 1.14 % as compared with 2.31 % at year end december 31 , 2015 book value per share of $ 34.08 increased $ 0.95 , or 3 % as compared with year end december 31 , 2015 tangible book value per share of $ 28.90 represents an increase of $ 1.21 , or 4 % as compared with year end december 31 , 2015 the following discussion and analysis of salisbury 's consolidated results of operations should be read in conjunction with the consolidated financial statements and footnotes . results of operations comparison of the years ended december 31 , 2016 and 2015 net interest and dividend income net interest and dividend income ( presented on a tax-equivalent basis ) decreased $ 995,000 in 2016 over 2015. the net interest margin decreased 30 basis points to 3.69 % from 3.99 % , due to a 23 basis point decrease in the average yield on interest-earning assets and an 11 basis point increase in the average cost of interest-bearing liabilities . the net interest margin is affected by changes in the mix of interest-earning assets and funding liabilities , asset and liability growth , and the effects of changes in market interest rates on the pricing and re-pricing of assets and liabilities . the following table sets forth the components of salisbury 's net interest income and yields on average interest-earning assets and interest-bearing funds . income and yields on tax-exempt securities are presented on a fully taxable equivalent basis . 23 replace_table_token_3_th ( a ) includes non-accrual loans . ( b ) includes interest-bearing deposits in other banks and federal funds sold . ( c ) average balances of securities are based on amortized cost . ( d ) includes tax exempt income of $ 1,205,000 , $ 1,205,000 and $ 1,295,000 , respectively for 2016 , 2015 and 2014 on tax-exempt securities and loans whose income and yields are calculated on a tax-equivalent basis ( e ) net interest income divided by average interest-earning assets . ( f ) interest income for 2016 and 2015 reflect net accretion related to the fair value adjustmentsof loans acquired in the riverside bank acquisition in the amount of $ 1.8 million and $ 2.7million respectively . 24 the following table sets forth the changes in net interest income ( presented on a tax-equivalent basis ) due to volume and rate . replace_table_token_4_th net interest and dividend income represents the difference between interest and dividends earned on loans and securities and interest expense incurred on deposits and borrowings . the level of net interest income is a function of volume , rates and mix of both earning assets and interest-bearing liabilities . net interest income can be affected by changes in interest rate levels , changes in the volume of assets and liabilities that are subject to re-pricing within different future time periods , and in the level of non-performing assets . interest and dividend income tax equivalent interest and dividend income decreased $ 0.2 million , or 0.5 % , to $ 35.6 million in 2016. loan income increased $ 0.5 million , or 1.6 % , primarily due to a $ 58.2 million , or 8.5 % , increase in average loans , partially offset by a 29 basis point decrease in average yield . story_separator_special_tag data processing expense increased $ 175,000 mainly as a result of increased volume due to the riverside bank merger . professional fees increased $ 819,000 primarily due to increased consulting ( core conversion , technology support , and imaging projects ) , legal , and merger related auditing services . collections , oreo and appraisal expenses increased $ 109,000 mainly due to delinquent real estate taxes paid on acquired loans , partially offset by lower collection costs . amortization of intangible assets increased $ 361,000 reflecting the increased intangible asset related to the sharon branch acquisition and the riverside bank merger . fdic insurance increased $ 197,000 due to the increase in assets mainly related to the riverside bank merger . marketing and community support increased $ 197,000 mainly related to the acquired branches . 2014 merger and acquisition related expenses were primarily related to legal fees , consulting , and data conversion expenses . all other operating expenses increased $ 324,000. income taxes the effective income tax rates for 2015 and 2014 were 29.64 % and 19.49 % , respectively . fluctuations in the effective tax rate result from changes in the mix of taxable and tax exempt income . salisbury 's effective tax rate was less than the 34 % federal statutory rate due to tax-exempt income , primarily from municipal bonds , tax advantaged loans and bank-owned life insurance . for further information on income taxes , see note 12 of notes to consolidated financial statements . 30 salisbury did not incur connecticut income tax in 2015 or 2014 , other than minimum state income tax , as a result of a connecticut law that permits banks to shelter certain mortgage income from the connecticut corporation business tax through the use of a special purpose entity called a passive investment company or pic . in 2004 , salisbury availed itself of this benefit by forming a pic , sbt mortgage service corporation . salisbury 's income tax provision reflects the full impact of the connecticut legislation . salisbury does not expect to pay other than minimum state income tax in the foreseeable future unless there is a change in connecticut tax law . overview assets during 2016 , salisbury 's assets increased by $ 44.2 million to $ 935.4 million , while net loans increased $ 64.2 million at december 31 , 2016. at december 31 , 2016 , salisbury 's tangible book value per common share was $ 28.90 and tier 1 leverage and total risk-based capital ratios were 8.69 % and 13.26 % , respectively . as of december 31 , 2016 , the bank was categorized as `` well capitalized . `` securities and short term funds during 2016 , securities increased $ 3.0 million to $ 82.8 million , while short-term funds ( interest-bearing deposits with other banks ) decreased $ 17.2 million to $ 30.1 million . the carrying values of securities are as follows : replace_table_token_11_th salisbury evaluates securities for otti where the fair value of a security is less than its amortized cost basis at the balance sheet date . as part of this process , salisbury considers whether it has the intent to sell each debt security and whether it is more likely than not that it will be required to sell the security before its anticipated recovery . if either of these conditions is met , salisbury recognizes an otti charge to earnings equal to the entire difference between the security 's amortized cost basis and its fair value at the balance sheet date . for securities that meet neither of these conditions , an analysis is performed to determine if any of these securities are at risk for otti . salisbury evaluates securities for strategic fit and may reduce its position in securities , although it is not more likely than not that salisbury will be required to sell these securities before recovery of their cost basis , which may be maturity , and does not intend to sell these securities . therefore , management does not consider any of its securities , other than one non-agency cmo security reflecting otti , to be otti at december 31 , 2016. in 2009 salisbury determined that five non-agency cmo securities reflected otti and recognized losses for deterioration in credit quality of $ 1,128,000. salisbury deemed the four remaining securities not to have additional otti and all other cmo securities not to be otti as of december 31 , 2016. it is possible that future loss assumptions could change necessitating salisbury to recognize future otti . salisbury evaluates securities for strategic fit and may reduce its position in securities , although it is not more likely than not that salisbury will be required to sell securities before recovery of their cost basis , which may be maturity . the carrying value of such securities judged to be otti are as follows : replace_table_token_12_th accumulated other comprehensive income at december 31 , 2016 included net unrealized holding gains , net of tax , of $ 0.5 million , which is a decrease of $ 0.6 million from december 31 , 2015 . 31 loans during 2016 , net loans receivable increased $ 64.2 million , or 9.2 % , to $ 763.2 million at december 31 , 2016. portfolio growth during 2016 reflects salisbury 's strong market presence . salisbury 's retail lending department originates residential mortgage , home equity loans and lines of credit , and consumer loans for the portfolio . during 2016 , salisbury originated $ 70.5 million of residential mortgage loans and $ 7.8 million of home equity loans for the portfolio , compared with $ 48.0 million and $ 8.1 million , respectively , in 2015. during 2016 , total residential mortgage and home equity loans receivable grew by $ 36.3 million to $ 361.2 million at december 31 , 2016 , and represent 47.0 % of loans receivable . during 2016 , salisbury 's

