given the substantial improvement in the outlook for the labor market since the inception of the fomc 's current asset purchase program , and the sufficient underlying strength it sees in the broader economy , the fomc decided to conclude its asset purchase program . the fomc will continue its existing policy of reinvesting principal payments from its holdings of agency debt and agency mbs in agency mbs , and rolling over maturing treasury securities at auction . the fomc reaffirmed its view that the current 0 % to 0.25 % target range for the federal funds rate remains appropriate and that it will likely be so for a considerable time following the end of the asset purchase program , especially if projected inflation continues to run below the fomc 's 2 % longer-run goal . if incoming information indicates faster progress toward the fomc 's employment and inflation objectives , then increases in the federal funds target range are likely to occur sooner than currently anticipated . 40 conversely , if progress is restricted more than expected , then increases in the federal funds target range are likely to occur later than currently anticipated . even after employment and inflation are near mandate-consistent levels , economic conditions may , for some time , warrant keeping the target federal funds rate below levels the fomc views as normal in the long run . when the fomc decides to begin to remove policy accommodation , they stated they will take a balanced approach consistent with their longer-run goals of maximum employment and inflation of 2 % . economic conditions in the bank 's local market areas have a significant impact on the ability of borrowers to repay loans and the value of the collateral securing these loans . the industries in our market areas are very diversified , specifically in the kansas city metropolitan statistical area which comprises the largest segment of our loan portfolio and deposit base . as of october 2014 , the unemployment rate was 4.4 % for kansas and 5.9 % for missouri , compared to the national average of 5.8 % based on information from the bureau of economic analysis . the kansas city market area has an average household income of approximately $ 74 thousand per annum , based on 2014 estimates from the american community survey , which is a statistical survey by the u.s. census bureau . the average household income in our combined market areas is approximately $ 69 thousand per annum , with 90 % of the population at or above the poverty level , also based on the 2014 estimates from the american community survey . the fhfa price index for kansas and missouri has not experienced significant fluctuations during the past 10 years , unlike other market areas of the united states , which indicates relative stability in property values in our local market areas . the structure of the bank 's retail branches is currently undergoing a transformation as more customers utilize electronic and other remote channels to conduct business . the physical footprint of the branch is being reduced . the last branch opened by the bank occupies approximately 2,100 square feet and we anticipate that future retail branches will be even smaller , operating with three to five retail staff members . the interior layout of the branch also will transform , with future or remodeled branches designed without a teller counter and designed for more consultative interactions with less emphasis on transaction processing . to support this operating concept , the bank has fully implemented a new branch staffing model that eliminates our traditional teller role , blending transaction processing and account servicing functions under customer service associates and customer service representatives . the expanded skill set of branch staff provides branch managers greater flexibility to manage customer flows within the branches . also , the branch management ranks have been pared , with 32 of our 47 branches now operating under a manager responsible for either two or three offices . currently , any future branch management reductions are expected to result from retirements and attrition . management continues to monitor the role and functions of the branch staff and will adjust the branch management and overall branch staffing structure as necessary to achieve the bank 's targets for deposit and loan production . since 2010 , the bank has reduced retail branch staff by 24 full-time equivalent positions while adding four new branch locations . additionally , lending staff have been deployed from regionally centralized locations to the branch network . by utilizing paperless electronic document technology , the bank can better utilize staff resources regardless of their physical location . this promotes a more efficient loan process which benefits the customer and the loan operation . having loan staff located in the branch network also provides them with more frequent opportunities to interact with customers and cross-sell additional products and services . during the fourth quarter of fiscal year 2014 , the bank implemented the daily leverage strategy to increase earnings . the daily leverage strategy currently involves borrowing up to $ 2.10 billion on the bank 's fhlb line of credit in two leverage tiers . the first tier of $ 800.0 million is intended to remain borrowed on the fhlb line of credit for an extended period of time . the second tier of $ 1.30 billion is borrowed at the beginning of each quarter and paid off prior to each quarter end . the proceeds of the borrowings , net of the required fhlb stock holdings , are deposited at the federal reserve bank of kansas city . the daily leverage strategy was fully implemented beginning on august 1 , 2014 and increased fiscal year 2014 net income by $ 501 thousand . the daily leverage strategy has had minimal impact on the bank 's interest rate risk and liquidity . story_separator_special_tag the end result of these activities has been a capital ratio in excess of the well-capitalized standards set by the occ . we believe that maintaining a strong capital position safeguards the long-term interests of the bank , the company , and our stockholders . stockholder value . we strive to enhance stockholder value while maintaining a strong capital position . one way that we continue to provide returns to stockholders is through our dividend payments . total dividends declared and paid during fiscal year 2014 were $ 138.2 million . the company 's cash dividend payout policy is reviewed quarterly by management and the board of directors , and the ability to pay dividends under the policy depends upon a number of factors , including the company 's financial condition and results of operations , regulatory capital requirements , regulatory limitations on the bank 's ability to make capital distributions to the company , and the amount of cash at the holding company level . it is the intent of the board of directors to continue to pay regular quarterly and special cash dividends each year , and for fiscal year 2015 , it is the intent of the board of directors and management to continue with the payout of 100 % of the company 's earnings to its stockholders . another way we have provided returns to stockholders is through our share repurchase programs . during fiscal year 2014 , the company repurchased 6,947,065 shares of common stock at an average price of $ 11.98 per share , or $ 83.2 million . interest rate risk management . changes in interest rates are our primary market risk as our balance sheet is almost entirely comprised of interest-earning assets and interest-bearing liabilities . as such , fluctuations in interest rates have a significant impact not only upon our net income but also upon the cash flows related to those assets and liabilities and the market value of our assets and liabilities . in order to maintain what we believe to be acceptable levels of net interest income in varying interest rate environments , we actively manage our interest rate risk and assume a moderate amount of interest rate risk consistent with board policies . 45 financial condition assets . total assets were $ 9.87 billion at september 30 , 2014 compared to $ 9.19 billion at september 30 , 2013. the $ 678.6 million increase was due primarily to a $ 697.0 million increase in cash and cash equivalents , a $ 274.3 million increase in loans receivable , and an $ 84.5 million increase in fhlb stock , partially offset by a $ 394.5 million decrease in the securities portfolio . loans receivable . the loans receivable portfolio , net , increased $ 274.3 million , or 4.6 % , to $ 6.23 billion at september 30 , 2014 , from $ 5.96 billion at september 30 , 2013. the increase in the portfolio was due primarily to correspondent one- to four-family loan purchases outpacing principal repayments between periods . the growth in the loan portfolio was primarily funded with cash flows from the securities portfolio . the following table presents information related to the composition of our loan portfolio ( before deductions for undisbursed loan funds , unearned loan fees and deferred costs , and acl ) as of the dates indicated . the weighted average rate of the loan portfolio decreased six basis points from 3.82 % at september 30 , 2013 to 3.76 % at september 30 , 2014. the decrease in the rate was due primarily to adjustable-rate loans repricing to lower rates and repayments of loans with rates greater than the weighted average rate of the existing portfolio . within the one- to four-family loan portfolio at september 30 , 2014 , 67 % of the loans had a balance at origination of less than $ 417 thousand . replace_table_token_19_th 46 the following table presents , for our portfolio of one- to four-family loans , the balance , percentage of total , weighted average credit score , weighted average ltv ratio , and the average balance per loan at the dates presented . credit scores are updated at least semiannually , with the last update in september 2014 , from a nationally recognized consumer rating agency . the ltv ratios were based on the current loan balance and either the lesser of the purchase price or original appraisal , or the most recent bank appraisal , if available . in most cases , the most recent appraisal was obtained at the time of origination . replace_table_token_20_th included in the loan portfolio at september 30 , 2014 were $ 96.2 million , or 1.5 % of the total loan portfolio , of arm loans that were originated as interest-only . of these interest-only loans , $ 81.1 million were purchased in bulk loan packages from nationwide lenders , primarily during fiscal year 2005. interest-only arm loans do not typically require principal payments during their initial term , and have initial interest-only terms of either 5 or 10 years . the $ 81.1 million of bulk purchased interest-only arm loans had a weighted average credit score of 724 and a weighted average ltv ratio of 70 % at september 30 , 2014. at september 30 , 2014 , $ 52.8 million , or 55 % , of the interest-only loans were still in their interest-only payment term and $ 4.2 million , or 17 % of non-performing loans , were interest-only arms . 47 the following tables summarize activity in the loan portfolio , along with weighted average rates where applicable , for the periods indicated , excluding changes in undisbursed loan funds , acl , discounts/unearned loan fees , and premiums/deferred costs . loans that were paid-off as a result of refinances are included in repayments . purchased loans include purchases from correspondent and nationwide lenders . there were no loan purchases from nationwide

liquidity and capital resources liquidity refers to our ability to generate sufficient cash to fund ongoing operations , to repay maturing certificates of deposit and other deposit withdrawals , to repay maturing borrowings , and to fund loan commitments . liquidity management is both a daily and long-term function of our business management . the company 's most available liquid assets are represented by cash and cash equivalents , afs securities , and short-term investment securities . the bank 's primary sources of funds are deposits , fhlb borrowings , repurchase agreements , repayments and maturities of outstanding loans and mbs and other short-term investments , and funds provided by operations . the bank 's term borrowings primarily have been used to invest in debentures and mbs in an effort to manage the bank 's interest rate risk with the intent to improve the earnings of the bank while maintaining capital ratios in excess of regulatory standards for well-capitalized financial institutions . in addition , the bank 's focus on managing risk has provided additional liquidity capacity by maintaining a balance of mbs and investment securities available as collateral for borrowings . we generally intend to maintain cash reserves sufficient to meet short-term liquidity needs , which are routinely forecasted for 10 , 30 , and 365 days . additionally , on a monthly basis , we perform a liquidity stress test in accordance with the interagency policy statement on funding and liquidity risk management . the liquidity stress test incorporates both short-term and long-term liquidity scenarios in order to identify and to quantify liquidity risk . management also continuously monitors key liquidity statistics related to items such as wholesale funding gaps , borrowings capacity , and available unpledged collateral , along with various liquidity ratios in an effort to further mitigate liquidity risk . in the event short-term liquidity needs exceed available cash , the bank has access to a line of credit at the fhlb and the federal reserve bank discount window . additionally , all or a portion of the borrowings against the fhlb line of credit in conjunction with the daily leverage strategy could be repaid at any point in time , if necessary .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources liquidity refers to our ability to generate sufficient cash to fund ongoing operations , to repay maturing certificates of deposit and other deposit withdrawals , to repay maturing borrowings , and to fund loan commitments . liquidity management is both a daily and long-term function of our business management . the company 's most available liquid assets are represented by cash and cash equivalents , afs securities , and short-term investment securities . the bank 's primary sources of funds are deposits , fhlb borrowings , repurchase agreements , repayments and maturities of outstanding loans and mbs and other short-term investments , and funds provided by operations . the bank 's term borrowings primarily have been used to invest in debentures and mbs in an effort to manage the bank 's interest rate risk with the intent to improve the earnings of the bank while maintaining capital ratios in excess of regulatory standards for well-capitalized financial institutions . in addition , the bank 's focus on managing risk has provided additional liquidity capacity by maintaining a balance of mbs and investment securities available as collateral for borrowings . we generally intend to maintain cash reserves sufficient to meet short-term liquidity needs , which are routinely forecasted for 10 , 30 , and 365 days . additionally , on a monthly basis , we perform a liquidity stress test in accordance with the interagency policy statement on funding and liquidity risk management . the liquidity stress test incorporates both short-term and long-term liquidity scenarios in order to identify and to quantify liquidity risk . management also continuously monitors key liquidity statistics related to items such as wholesale funding gaps , borrowings capacity , and available unpledged collateral , along with various liquidity ratios in an effort to further mitigate liquidity risk . in the event short-term liquidity needs exceed available cash , the bank has access to a line of credit at the fhlb and the federal reserve bank discount window . additionally , all or a portion of the borrowings against the fhlb line of credit in conjunction with the daily leverage strategy could be repaid at any point in time , if necessary .
```    
 Suspicious Activity Report : given the substantial improvement in the outlook for the labor market since the inception of the fomc 's current asset purchase program , and the sufficient underlying strength it sees in the broader economy , the fomc decided to conclude its asset purchase program . the fomc will continue its existing policy of reinvesting principal payments from its holdings of agency debt and agency mbs in agency mbs , and rolling over maturing treasury securities at auction . the fomc reaffirmed its view that the current 0 % to 0.25 % target range for the federal funds rate remains appropriate and that it will likely be so for a considerable time following the end of the asset purchase program , especially if projected inflation continues to run below the fomc 's 2 % longer-run goal . if incoming information indicates faster progress toward the fomc 's employment and inflation objectives , then increases in the federal funds target range are likely to occur sooner than currently anticipated . 40 conversely , if progress is restricted more than expected , then increases in the federal funds target range are likely to occur later than currently anticipated . even after employment and inflation are near mandate-consistent levels , economic conditions may , for some time , warrant keeping the target federal funds rate below levels the fomc views as normal in the long run . when the fomc decides to begin to remove policy accommodation , they stated they will take a balanced approach consistent with their longer-run goals of maximum employment and inflation of 2 % . economic conditions in the bank 's local market areas have a significant impact on the ability of borrowers to repay loans and the value of the collateral securing these loans . the industries in our market areas are very diversified , specifically in the kansas city metropolitan statistical area which comprises the largest segment of our loan portfolio and deposit base . as of october 2014 , the unemployment rate was 4.4 % for kansas and 5.9 % for missouri , compared to the national average of 5.8 % based on information from the bureau of economic analysis . the kansas city market area has an average household income of approximately $ 74 thousand per annum , based on 2014 estimates from the american community survey , which is a statistical survey by the u.s. census bureau . the average household income in our combined market areas is approximately $ 69 thousand per annum , with 90 % of the population at or above the poverty level , also based on the 2014 estimates from the american community survey . the fhfa price index for kansas and missouri has not experienced significant fluctuations during the past 10 years , unlike other market areas of the united states , which indicates relative stability in property values in our local market areas . the structure of the bank 's retail branches is currently undergoing a transformation as more customers utilize electronic and other remote channels to conduct business . the physical footprint of the branch is being reduced . the last branch opened by the bank occupies approximately 2,100 square feet and we anticipate that future retail branches will be even smaller , operating with three to five retail staff members . the interior layout of the branch also will transform , with future or remodeled branches designed without a teller counter and designed for more consultative interactions with less emphasis on transaction processing . to support this operating concept , the bank has fully implemented a new branch staffing model that eliminates our traditional teller role , blending transaction processing and account servicing functions under customer service associates and customer service representatives . the expanded skill set of branch staff provides branch managers greater flexibility to manage customer flows within the branches . also , the branch management ranks have been pared , with 32 of our 47 branches now operating under a manager responsible for either two or three offices . currently , any future branch management reductions are expected to result from retirements and attrition . management continues to monitor the role and functions of the branch staff and will adjust the branch management and overall branch staffing structure as necessary to achieve the bank 's targets for deposit and loan production . since 2010 , the bank has reduced retail branch staff by 24 full-time equivalent positions while adding four new branch locations . additionally , lending staff have been deployed from regionally centralized locations to the branch network . by utilizing paperless electronic document technology , the bank can better utilize staff resources regardless of their physical location . this promotes a more efficient loan process which benefits the customer and the loan operation . having loan staff located in the branch network also provides them with more frequent opportunities to interact with customers and cross-sell additional products and services . during the fourth quarter of fiscal year 2014 , the bank implemented the daily leverage strategy to increase earnings . the daily leverage strategy currently involves borrowing up to $ 2.10 billion on the bank 's fhlb line of credit in two leverage tiers . the first tier of $ 800.0 million is intended to remain borrowed on the fhlb line of credit for an extended period of time . the second tier of $ 1.30 billion is borrowed at the beginning of each quarter and paid off prior to each quarter end . the proceeds of the borrowings , net of the required fhlb stock holdings , are deposited at the federal reserve bank of kansas city . the daily leverage strategy was fully implemented beginning on august 1 , 2014 and increased fiscal year 2014 net income by $ 501 thousand . the daily leverage strategy has had minimal impact on the bank 's interest rate risk and liquidity . story_separator_special_tag the end result of these activities has been a capital ratio in excess of the well-capitalized standards set by the occ . we believe that maintaining a strong capital position safeguards the long-term interests of the bank , the company , and our stockholders . stockholder value . we strive to enhance stockholder value while maintaining a strong capital position . one way that we continue to provide returns to stockholders is through our dividend payments . total dividends declared and paid during fiscal year 2014 were $ 138.2 million . the company 's cash dividend payout policy is reviewed quarterly by management and the board of directors , and the ability to pay dividends under the policy depends upon a number of factors , including the company 's financial condition and results of operations , regulatory capital requirements , regulatory limitations on the bank 's ability to make capital distributions to the company , and the amount of cash at the holding company level . it is the intent of the board of directors to continue to pay regular quarterly and special cash dividends each year , and for fiscal year 2015 , it is the intent of the board of directors and management to continue with the payout of 100 % of the company 's earnings to its stockholders . another way we have provided returns to stockholders is through our share repurchase programs . during fiscal year 2014 , the company repurchased 6,947,065 shares of common stock at an average price of $ 11.98 per share , or $ 83.2 million . interest rate risk management . changes in interest rates are our primary market risk as our balance sheet is almost entirely comprised of interest-earning assets and interest-bearing liabilities . as such , fluctuations in interest rates have a significant impact not only upon our net income but also upon the cash flows related to those assets and liabilities and the market value of our assets and liabilities . in order to maintain what we believe to be acceptable levels of net interest income in varying interest rate environments , we actively manage our interest rate risk and assume a moderate amount of interest rate risk consistent with board policies . 45 financial condition assets . total assets were $ 9.87 billion at september 30 , 2014 compared to $ 9.19 billion at september 30 , 2013. the $ 678.6 million increase was due primarily to a $ 697.0 million increase in cash and cash equivalents , a $ 274.3 million increase in loans receivable , and an $ 84.5 million increase in fhlb stock , partially offset by a $ 394.5 million decrease in the securities portfolio . loans receivable . the loans receivable portfolio , net , increased $ 274.3 million , or 4.6 % , to $ 6.23 billion at september 30 , 2014 , from $ 5.96 billion at september 30 , 2013. the increase in the portfolio was due primarily to correspondent one- to four-family loan purchases outpacing principal repayments between periods . the growth in the loan portfolio was primarily funded with cash flows from the securities portfolio . the following table presents information related to the composition of our loan portfolio ( before deductions for undisbursed loan funds , unearned loan fees and deferred costs , and acl ) as of the dates indicated . the weighted average rate of the loan portfolio decreased six basis points from 3.82 % at september 30 , 2013 to 3.76 % at september 30 , 2014. the decrease in the rate was due primarily to adjustable-rate loans repricing to lower rates and repayments of loans with rates greater than the weighted average rate of the existing portfolio . within the one- to four-family loan portfolio at september 30 , 2014 , 67 % of the loans had a balance at origination of less than $ 417 thousand . replace_table_token_19_th 46 the following table presents , for our portfolio of one- to four-family loans , the balance , percentage of total , weighted average credit score , weighted average ltv ratio , and the average balance per loan at the dates presented . credit scores are updated at least semiannually , with the last update in september 2014 , from a nationally recognized consumer rating agency . the ltv ratios were based on the current loan balance and either the lesser of the purchase price or original appraisal , or the most recent bank appraisal , if available . in most cases , the most recent appraisal was obtained at the time of origination . replace_table_token_20_th included in the loan portfolio at september 30 , 2014 were $ 96.2 million , or 1.5 % of the total loan portfolio , of arm loans that were originated as interest-only . of these interest-only loans , $ 81.1 million were purchased in bulk loan packages from nationwide lenders , primarily during fiscal year 2005. interest-only arm loans do not typically require principal payments during their initial term , and have initial interest-only terms of either 5 or 10 years . the $ 81.1 million of bulk purchased interest-only arm loans had a weighted average credit score of 724 and a weighted average ltv ratio of 70 % at september 30 , 2014. at september 30 , 2014 , $ 52.8 million , or 55 % , of the interest-only loans were still in their interest-only payment term and $ 4.2 million , or 17 % of non-performing loans , were interest-only arms . 47 the following tables summarize activity in the loan portfolio , along with weighted average rates where applicable , for the periods indicated , excluding changes in undisbursed loan funds , acl , discounts/unearned loan fees , and premiums/deferred costs . loans that were paid-off as a result of refinances are included in repayments . purchased loans include purchases from correspondent and nationwide lenders . there were no loan purchases from nationwide

