other third parties , including banking regulators and investors , also exclude goodwill and other intangible assets from stockholders ' equity when assessing the capital adequacy of a financial institution . management believes the presentation of these financial measures and adjusting for the impact of these items provides useful supplemental information that is essential to a proper understanding of our financial results and operating performance . this disclosure should not be viewed as a substitute for results determined in accordance with gaap , nor is it necessarily comparable to non-gaap performance measures that may be presented by other companies . 36 the following tables provide reconciliations of the non-gaap measures with financial measures defined by gaap . return on average tangible common equity replace_table_token_1_th ( 1 ) utilized a 21 % federal statutory tax rate . tangible common equity to tangible assets and tangible common equity per common share replace_table_token_2_th 37 executive overview we are focused on providing core banking products and services , including customized and innovative banking and lending solutions , designed to cater to the unique needs of california 's diverse businesses , entrepreneurs and communities through our 29 full service branches in orange , los angeles , san diego , and santa barbara counties . through our over 600 dedicated professionals , we are committed to servicing and building enduring relationships by providing a higher standard of banking . we offer a variety of financial products and services designed around our target clients in order to serve all of their banking and financial needs . we continue to focus on three main initiatives designed to improve our franchise and profitability on an ongoing basis : attracting noninterest-bearing deposits and reducing our cost of deposits , optimizing the balance sheet to focus on higher-margin products while managing credit risk , and appropriately managing down expenses to the size and complexity of the business . through these efforts , we continue to transform our franchise into a relationship-focused business bank , maintaining our credit quality and serving businesses , entrepreneurs and individuals within our footprint . financial highlights for the years ended december 31 , 2020 , 2019 and 2018 , net ( loss ) income available to common stockholders was $ ( 1.1 ) million , $ 2.6 million and $ 22.9 million . diluted ( loss ) earnings per common share were $ ( 0.02 ) , $ 0.05 and $ 0.45 for the years ended december 31 , 2020 , 2019 and 2018. the decrease in net income available to common stockholders for the year ended december 31 , 2020 as compared to the year ended december 31 , 2019 was mainly due to lower net interest income due to the strategic reduction in our balance sheet size during 2019 combined with a lower interest rate environment , higher provision for credit losses due to expected impact of the pandemic on lifetime credit losses , and higher noninterest expense related to the termination of our lafc agreements . total assets were $ 7.88 billion at december 31 , 2020 , an increase of $ 48.9 million , or 0.6 % , from $ 7.83 billion at december 31 , 2019. significant financial highlights include : securities available-for-sale were $ 1.23 billion at december 31 , 2020 , an increase of $ 318.9 million , or 34.9 % , from $ 912.6 million at december 31 , 2019. the increase was primarily the result of purchase activities , offset by call and net sale activities between periods . we lowered the amount of collateralized loan obligations in the investment securities portfolio and repositioned our securities available-for-sale portfolio in the overall lower rate environment . loans receivable , net , totaled $ 5.82 billion at december 31 , 2020 , a decrease of $ 76.9 million , or 1.30 % , from $ 5.89 billion at december 31 , 2019. the decrease was mainly due to elevated runoff activity in our sfr mortgage and multifamily loan portfolios which decreased $ 360.5 million and $ 204.7 million , offset by growth in our commercial and industrial portfolio of $ 397.0 million and in our sba portfolio of $ 202.5 million , the latter consisting primarily of ppp loans . total deposits were $ 6.09 billion at december 31 , 2020 , an increase of $ 658.6 million , or 12.14 % , from $ 5.43 billion at december 31 , 2019. the increase was mainly due to our continued focus on growing relationship-based deposits , strategically augmented by wholesale funding , as we actively managed down deposit costs in response to the interest rate cuts by the federal reserve in march of 2020. total stockholders ' equity was $ 897.2 million at december 31 , 2020 , a decrease of $ 10.0 million , or 1.11 % , from $ 907.2 million at december 31 , 2019. the decrease was primarily the result of cash dividends on common stock of $ 11.8 million and preferred stock of $ 13.9 million , repurchases of common stock of $ 12.0 million , the repurchases of our series d and series e preferred stock at a price equal to or lower than par value for an aggregate amount of $ 4.4 million , and a $ 4.5 million cecl adoption charge to retained earnings , partially offset by $ 19.6 million of other comprehensive income on securities available-for-sale and net income of $ 12.6 million during the year ended december 31 , 2020. refer to the 2019 form 10-k filed on march 2 , 2020 for discussion related to 2019 activity compared to 2018 activity . covid-19 operational update the markets in which we operate are impacted by continuing uncertainty about the pace and strength of reopening and recovering from the covid-19 pandemic . despite the challenges created by the pandemic , we continue to execute on our strategic initiatives and the transformation of our balance sheet . story_separator_special_tag during the year ended december 31 , 2019 , net loss on sale of investment securities was $ 4.9 million resulting from the sale of non-agency commercial mortgage-backed securities of $ 132.2 million for a gain of $ 9 thousand , agency mortgage-backed securities of $ 423.6 million for a loss of $ 5.0 million and collateralized loan obligations of $ 644.0 million for a net gain of $ 143 thousand . a portion of the funds from sales of investment securities during 2019 and other available cash balances were reinvested into a mix of security classes , resulting in an overall shorter duration for the securities portfolio . impairment losses on investment securities decreased $ 731 thousand to zero during the year ended december 31 , 2020. during the year ended december 31 , 2019 , we changed our intent to sell our u.s. government agency and u.s. government sponsored enterprise residential mortgage-backed securities due to our strategy to reposition the securities profile and shorten the duration of certain securities within the portfolio . as a result , we recognized impairment of $ 731 thousand for the year ended december 31 , 2019. fair value adjustment for loans held for sale was lower during the year ended december 31 , 2020 by $ 1.6 million due to decreases in the fair value of sfr mortgage loans during the year . excluding the above-noted $ 4.5 million net gain on sale of loans related to the multifamily loan securitization , net gains on sales of loans decreased $ 3.0 million during the year ended december 31 , 2020 to $ 245 thousand . during the year ended december 31 , 2020 , we sold approximately $ 17.4 million in sfr mortgage loans for a net gain of approximately $ 245 thousand . during the year ended december 31 , 2019 , other net gains on sales of loans were $ 3.4 million resulting primarily from sales of jumbo sfr mortgage loans of $ 382.8 million resulting in a gain of $ 787 thousand and other multifamily residential loans of $ 178.2 million resulting in a gain of $ 2.9 million . other income was also impacted during 2020 by ( i ) an increase of $ 2.5 million related to legacy legal settlements for the benefit of the company , ( ii ) lower earn-out income related to the sale of our mortgage banking division of $ 1.4 million , and ( iii ) lower other income of $ 2.0 million due in part to lower rental income . noninterest expense the following table presents noninterest expense for the periods indicated : replace_table_token_9_th 46 year ended december 31 , 2020 compared to year ended december 31 , 2019 noninterest expense was $ 199.0 million for the year ended december 31 , 2020 , an increase of $ 2.6 million , or 1.3 % , from $ 196.5 million for the year ended december 31 , 2019. the increase was mainly due to : ( i ) the $ 26.8 million lafc naming rights termination , ( ii ) a $ 2.5 million debt extinguishment fee , included in all other expenses , associated with the early repayment of certain fhlb term advances , and ( iii ) a $ 3.5 million increase in professional fees .. these increases were partially offset by : ( i ) a $ 9.1 million decrease in salaries and employee benefits , ( ii ) a $ 2.0 million decrease in occupancy and equipment , ( iii ) a $ 5.1 million decrease in advertising expenses , ( iv ) a $ 5.0 million decrease in regulatory assessments , ( v ) a $ 4.3 million decrease in restructuring expense , and , to a lesser extent , ( vi ) decreases among several other noninterest expense categories . salaries and employee benefits expense was $ 96.8 million for the year ended december 31 , 2020 , a decrease of $ 9.1 million , or 8.6 % , from $ 105.9 million for the year ended december 31 , 2019. the decrease was mainly due to decreases in commissions and temporary staff expenses , including overall reductions in headcount between periods . occupancy and equipment was $ 29.4 million for the year ended december 31 , 2020 , a decrease of $ 2.0 million or 6.3 % from $ 31.3 million for the year ended december 31 , 2019. the decrease was primarily due to overall reductions in costs , including depreciation , rent and maintenance costs between periods . these decreases were partially a result of exiting the tpmo and brokered single family lending businesses during the first quarter of 2019 , as well as reductions in items such as maintenance costs attributable to decreased utilization of premises as a larger portion of employees worked remotely as a result of the pandemic . professional fees were $ 15.7 million for the year ended december 31 , 2020 , an increase of $ 3.5 million , or 28.9 % , from $ 12.2 million for the year ended december 31 , 2019. the increase in fees was the result of $ 8.3 million in higher legal fees due mostly to the timing of insurance recoveries related to securities litigation , indemnification and investigation between periods , offset by lower other professional service fees of $ 4.8 million . advertising costs were $ 3.3 million for the year ended december 31 , 2020 , a decrease of $ 5.1 million , or 60.8 % , from $ 8.4 million for the year ended december 31 , 2019. the decrease was mainly due to reductions in overall events and media spending , and lower advertising costs related to the now-terminated lafc naming rights commitment . advertising costs for the year ended december 31 , 2020 included $ 2.6 million related to the now-terminated lafc naming rights agreement compared to $ 6.7 million during the year ended december

liquidity management we are required to maintain sufficient liquidity to ensure a safe and sound operation . liquidity may increase or decrease depending upon availability of funds and comparative yields on investments in relation to the return on loans . historically , we have maintained liquid assets above levels believed to be adequate to meet the requirements of normal operations , including both expected and unexpected cash flow needs such as funding loan commitments , potential deposit outflows and dividend payments . cash flow projections are regularly reviewed and updated to ensure that adequate liquidity is maintained . as a result of current economic conditions , including government stimulus in response to the pandemic , we have participated in the elevated levels of liquidity in the marketplace . a portion of the additional liquidity is viewed as short-term as it is expected to be used by clients in the near term and , accordingly , we have maintained higher levels of liquid assets . we have not observed a change in the level of clients ' credit line usage and as the bank 's first and second draw ppp loans are expected to be forgiven over a range of approximately 3 to 15 months , we expect additional liquidity that will likely be used to lower wholesale funding as it matures . banc of california , n.a . during the second quarter of 2020 , we expanded our existing secured borrowing capacity with the federal reserve bank through its bic program . as a result , our borrowing capacity with the federal reserve bank increased from $ 16.7 million at december 31 , 2019 to $ 422.4 million at december 31 , 2020. prior to participating in the bic program , the bank had pledged certain securities as collateral for access to the discount window . at december 31 , 2020 , the bank has pledged certain qualifying loans with an unpaid principal balance of $ 856.2 million and securities with a carrying value of $ 23.7 million as collateral for this line of credit .


 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 management we are required to maintain sufficient liquidity to ensure a safe and sound operation . liquidity may increase or decrease depending upon availability of funds and comparative yields on investments in relation to the return on loans . historically , we have maintained liquid assets above levels believed to be adequate to meet the requirements of normal operations , including both expected and unexpected cash flow needs such as funding loan commitments , potential deposit outflows and dividend payments . cash flow projections are regularly reviewed and updated to ensure that adequate liquidity is maintained . as a result of current economic conditions , including government stimulus in response to the pandemic , we have participated in the elevated levels of liquidity in the marketplace . a portion of the additional liquidity is viewed as short-term as it is expected to be used by clients in the near term and , accordingly , we have maintained higher levels of liquid assets . we have not observed a change in the level of clients ' credit line usage and as the bank 's first and second draw ppp loans are expected to be forgiven over a range of approximately 3 to 15 months , we expect additional liquidity that will likely be used to lower wholesale funding as it matures . banc of california , n.a . during the second quarter of 2020 , we expanded our existing secured borrowing capacity with the federal reserve bank through its bic program . as a result , our borrowing capacity with the federal reserve bank increased from $ 16.7 million at december 31 , 2019 to $ 422.4 million at december 31 , 2020. prior to participating in the bic program , the bank had pledged certain securities as collateral for access to the discount window . at december 31 , 2020 , the bank has pledged certain qualifying loans with an unpaid principal balance of $ 856.2 million and securities with a carrying value of $ 23.7 million as collateral for this line of credit .
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 Suspicious Activity Report : other third parties , including banking regulators and investors , also exclude goodwill and other intangible assets from stockholders ' equity when assessing the capital adequacy of a financial institution . management believes the presentation of these financial measures and adjusting for the impact of these items provides useful supplemental information that is essential to a proper understanding of our financial results and operating performance . this disclosure should not be viewed as a substitute for results determined in accordance with gaap , nor is it necessarily comparable to non-gaap performance measures that may be presented by other companies . 36 the following tables provide reconciliations of the non-gaap measures with financial measures defined by gaap . return on average tangible common equity replace_table_token_1_th ( 1 ) utilized a 21 % federal statutory tax rate . tangible common equity to tangible assets and tangible common equity per common share replace_table_token_2_th 37 executive overview we are focused on providing core banking products and services , including customized and innovative banking and lending solutions , designed to cater to the unique needs of california 's diverse businesses , entrepreneurs and communities through our 29 full service branches in orange , los angeles , san diego , and santa barbara counties . through our over 600 dedicated professionals , we are committed to servicing and building enduring relationships by providing a higher standard of banking . we offer a variety of financial products and services designed around our target clients in order to serve all of their banking and financial needs . we continue to focus on three main initiatives designed to improve our franchise and profitability on an ongoing basis : attracting noninterest-bearing deposits and reducing our cost of deposits , optimizing the balance sheet to focus on higher-margin products while managing credit risk , and appropriately managing down expenses to the size and complexity of the business . through these efforts , we continue to transform our franchise into a relationship-focused business bank , maintaining our credit quality and serving businesses , entrepreneurs and individuals within our footprint . financial highlights for the years ended december 31 , 2020 , 2019 and 2018 , net ( loss ) income available to common stockholders was $ ( 1.1 ) million , $ 2.6 million and $ 22.9 million . diluted ( loss ) earnings per common share were $ ( 0.02 ) , $ 0.05 and $ 0.45 for the years ended december 31 , 2020 , 2019 and 2018. the decrease in net income available to common stockholders for the year ended december 31 , 2020 as compared to the year ended december 31 , 2019 was mainly due to lower net interest income due to the strategic reduction in our balance sheet size during 2019 combined with a lower interest rate environment , higher provision for credit losses due to expected impact of the pandemic on lifetime credit losses , and higher noninterest expense related to the termination of our lafc agreements . total assets were $ 7.88 billion at december 31 , 2020 , an increase of $ 48.9 million , or 0.6 % , from $ 7.83 billion at december 31 , 2019. significant financial highlights include : securities available-for-sale were $ 1.23 billion at december 31 , 2020 , an increase of $ 318.9 million , or 34.9 % , from $ 912.6 million at december 31 , 2019. the increase was primarily the result of purchase activities , offset by call and net sale activities between periods . we lowered the amount of collateralized loan obligations in the investment securities portfolio and repositioned our securities available-for-sale portfolio in the overall lower rate environment . loans receivable , net , totaled $ 5.82 billion at december 31 , 2020 , a decrease of $ 76.9 million , or 1.30 % , from $ 5.89 billion at december 31 , 2019. the decrease was mainly due to elevated runoff activity in our sfr mortgage and multifamily loan portfolios which decreased $ 360.5 million and $ 204.7 million , offset by growth in our commercial and industrial portfolio of $ 397.0 million and in our sba portfolio of $ 202.5 million , the latter consisting primarily of ppp loans . total deposits were $ 6.09 billion at december 31 , 2020 , an increase of $ 658.6 million , or 12.14 % , from $ 5.43 billion at december 31 , 2019. the increase was mainly due to our continued focus on growing relationship-based deposits , strategically augmented by wholesale funding , as we actively managed down deposit costs in response to the interest rate cuts by the federal reserve in march of 2020. total stockholders ' equity was $ 897.2 million at december 31 , 2020 , a decrease of $ 10.0 million , or 1.11 % , from $ 907.2 million at december 31 , 2019. the decrease was primarily the result of cash dividends on common stock of $ 11.8 million and preferred stock of $ 13.9 million , repurchases of common stock of $ 12.0 million , the repurchases of our series d and series e preferred stock at a price equal to or lower than par value for an aggregate amount of $ 4.4 million , and a $ 4.5 million cecl adoption charge to retained earnings , partially offset by $ 19.6 million of other comprehensive income on securities available-for-sale and net income of $ 12.6 million during the year ended december 31 , 2020. refer to the 2019 form 10-k filed on march 2 , 2020 for discussion related to 2019 activity compared to 2018 activity . covid-19 operational update the markets in which we operate are impacted by continuing uncertainty about the pace and strength of reopening and recovering from the covid-19 pandemic . despite the challenges created by the pandemic , we continue to execute on our strategic initiatives and the transformation of our balance sheet . story_separator_special_tag during the year ended december 31 , 2019 , net loss on sale of investment securities was $ 4.9 million resulting from the sale of non-agency commercial mortgage-backed securities of $ 132.2 million for a gain of $ 9 thousand , agency mortgage-backed securities of $ 423.6 million for a loss of $ 5.0 million and collateralized loan obligations of $ 644.0 million for a net gain of $ 143 thousand . a portion of the funds from sales of investment securities during 2019 and other available cash balances were reinvested into a mix of security classes , resulting in an overall shorter duration for the securities portfolio . impairment losses on investment securities decreased $ 731 thousand to zero during the year ended december 31 , 2020. during the year ended december 31 , 2019 , we changed our intent to sell our u.s. government agency and u.s. government sponsored enterprise residential mortgage-backed securities due to our strategy to reposition the securities profile and shorten the duration of certain securities within the portfolio . as a result , we recognized impairment of $ 731 thousand for the year ended december 31 , 2019. fair value adjustment for loans held for sale was lower during the year ended december 31 , 2020 by $ 1.6 million due to decreases in the fair value of sfr mortgage loans during the year . excluding the above-noted $ 4.5 million net gain on sale of loans related to the multifamily loan securitization , net gains on sales of loans decreased $ 3.0 million during the year ended december 31 , 2020 to $ 245 thousand . during the year ended december 31 , 2020 , we sold approximately $ 17.4 million in sfr mortgage loans for a net gain of approximately $ 245 thousand . during the year ended december 31 , 2019 , other net gains on sales of loans were $ 3.4 million resulting primarily from sales of jumbo sfr mortgage loans of $ 382.8 million resulting in a gain of $ 787 thousand and other multifamily residential loans of $ 178.2 million resulting in a gain of $ 2.9 million . other income was also impacted during 2020 by ( i ) an increase of $ 2.5 million related to legacy legal settlements for the benefit of the company , ( ii ) lower earn-out income related to the sale of our mortgage banking division of $ 1.4 million , and ( iii ) lower other income of $ 2.0 million due in part to lower rental income . noninterest expense the following table presents noninterest expense for the periods indicated : replace_table_token_9_th 46 year ended december 31 , 2020 compared to year ended december 31 , 2019 noninterest expense was $ 199.0 million for the year ended december 31 , 2020 , an increase of $ 2.6 million , or 1.3 % , from $ 196.5 million for the year ended december 31 , 2019. the increase was mainly due to : ( i ) the $ 26.8 million lafc naming rights termination , ( ii ) a $ 2.5 million debt extinguishment fee , included in all other expenses , associated with the early repayment of certain fhlb term advances , and ( iii ) a $ 3.5 million increase in professional fees .. these increases were partially offset by : ( i ) a $ 9.1 million decrease in salaries and employee benefits , ( ii ) a $ 2.0 million decrease in occupancy and equipment , ( iii ) a $ 5.1 million decrease in advertising expenses , ( iv ) a $ 5.0 million decrease in regulatory assessments , ( v ) a $ 4.3 million decrease in restructuring expense , and , to a lesser extent , ( vi ) decreases among several other noninterest expense categories . salaries and employee benefits expense was $ 96.8 million for the year ended december 31 , 2020 , a decrease of $ 9.1 million , or 8.6 % , from $ 105.9 million for the year ended december 31 , 2019. the decrease was mainly due to decreases in commissions and temporary staff expenses , including overall reductions in headcount between periods . occupancy and equipment was $ 29.4 million for the year ended december 31 , 2020 , a decrease of $ 2.0 million or 6.3 % from $ 31.3 million for the year ended december 31 , 2019. the decrease was primarily due to overall reductions in costs , including depreciation , rent and maintenance costs between periods . these decreases were partially a result of exiting the tpmo and brokered single family lending businesses during the first quarter of 2019 , as well as reductions in items such as maintenance costs attributable to decreased utilization of premises as a larger portion of employees worked remotely as a result of the pandemic . professional fees were $ 15.7 million for the year ended december 31 , 2020 , an increase of $ 3.5 million , or 28.9 % , from $ 12.2 million for the year ended december 31 , 2019. the increase in fees was the result of $ 8.3 million in higher legal fees due mostly to the timing of insurance recoveries related to securities litigation , indemnification and investigation between periods , offset by lower other professional service fees of $ 4.8 million . advertising costs were $ 3.3 million for the year ended december 31 , 2020 , a decrease of $ 5.1 million , or 60.8 % , from $ 8.4 million for the year ended december 31 , 2019. the decrease was mainly due to reductions in overall events and media spending , and lower advertising costs related to the now-terminated lafc naming rights commitment . advertising costs for the year ended december 31 , 2020 included $ 2.6 million related to the now-terminated lafc naming rights agreement compared to $ 6.7 million during the year ended december

