overview who we are and how we generate income dime community bancshares , inc. , a new york corporation previously known as “ bridge bancorp , inc. , ” is a bank holding company formed in 1989. on a parent-only basis , the holding company has had minimal results of operations . the holding company is dependent on dividends from its wholly-owned subsidiary , dime community bank , which was previously known as “ bnb bank , ” its own earnings , additional capital raised , and borrowings as sources of funds . the information in this report reflects principally the financial condition and results of operations of the bank . the bank 's results of operations are primarily dependent on its net interest income , which is the difference between interest income on loans and investments and interest expense on deposits and borrowings . the bank also generates non-interest income , such as fee income on deposit accounts and merchant credit and debit card processing programs , loan swap fees , investment services , income from its title insurance subsidiary , and net gains on sales of securities and loans . the level of non-interest expenses , such as salaries and benefits , occupancy and equipment costs , other general and administrative expenses , page -23- expenses from the bank 's title insurance subsidiary , and income tax expense , further affects our net income . we believe the merger created the opportunity for the resulting company to leverage complementary and diversified revenue streams and to potentially have superior future earnings and prospects compared to our current earnings and prospects on a stand-alone basis . certain reclassifications have been made to prior year amounts and the related discussion and analysis to conform to the current year presentation . these reclassifications did not have an impact on net income or total stockholders ' equity . year and quarterly highlights ( prior to the completion of the merger on february 1 , 2021 ) ● net income for the 2020 fourth quarter of $ 9.0 million , or $ 0.45 per diluted share , inclusive of merger and stock acceleration expenses related to the merger . ​ ● net income for the full year 2020 was $ 42.0 million , or $ 2.11 per diluted share , compared to $ 51.7 million , or $ 2.59 per diluted share , for the full year 2019. inclusive of : o pre-tax merger expenses of $ 4.5 million , or $ 0.21 per diluted share , in the last six months of 2020. o pre-tax stock acceleration expenses of $ 4.2 million , or $ 0.21 per diluted share , in the 2020 fourth quarter . ​ ● net interest income increased to $ 160.8 million for 2020 , compared to $ 142.2 million in 2019 . ● tax-equivalent net interest margin was 2.99 % for 2020 and 3.31 % in 2019 . ● total assets of $ 6.4 billion at december 31 , 2020 , an increase of $ 1.5 billion , or 30.7 % , over december 31 , 2019 . ● total loans held for investment at december 31 , 2020 of $ 4.6 billion , inclusive of ppp loans totaling $ 844.7 million , an increase of $ 917.1 million , or 24.9 % , over december 31 , 2019 . ● total deposits of $ 5.5 billion at december 31 , 2020 , an increase of $ 1.7 billion , or 43.9 % , compared to december 31 , 2019 . ● provision for credit losses of $ 11.5 million for 2020 , compared to $ 5.7 million in 2019 . ● allowance for credit losses was 0.96 % of loans as of december 31 , 2020 , compared to 0.89 % at december 31 , 2019 . ● cash dividends of $ 19.2 million were paid in 2020 , representing $ 0.96 per share . a cash dividend of $ 4.8 million , or $ 0.24 per share , was declared in january 2021 and paid in february 2021 for the fourth quarter . challenges and opportunities the covid-19 pandemic has caused us to modify our business practices , including employee travel and employee work locations , as many employees are working remotely . various state governments and federal agencies are requiring lenders to provide forbearance and other relief to borrowers , such as waiving late payment and other fees . given the ongoing and dynamic nature of the circumstances , it is difficult to predict the challenges our business will face and the full impact of the covid-19 outbreak on our business . we continue to face challenges associated with ever-increasing banking regulations and the current low interest rate environment . a prolonged inverted or flat yield curve presents a challenge to a bank , like us , that derives most of its revenue from net interest margin . a sustained decrease in market interest rates could adversely affect our earnings . when interest rates decline , borrowers tend to refinance higher-rate , fixed-rate loans at lower rates . in addition , the majority of our loans are at variable interest rates , which would adjust to lower rates . in response to the covid-19 outbreak , the federal reserve has reduced the benchmark federal funds rate to a target range of 0 % to 0.25 % during the 2020 first quarter . we took this opportunity to lower our funding costs and stabilize our net interest margin . page -24- we established five strategic objectives to achieve our vision : ( 1 ) acquire new customers in growth markets ; ( 2 ) build new sales and marketing disciplines ; ( 3 ) deepen customer relationships ; ( 4 ) expand use of automation ; and ( 5 ) improve talent management . story_separator_special_tag such agencies may require us to recognize adjustments to the allowance based on their judgments of the information available to them at the time of their examination . for additional information regarding the allowance for credit losses , see note 4 of the notes to the consolidated financial statements . net income net income for the year ended december 31 , 2020 was $ 42.0 million and $ 2.11 per diluted share as compared to $ 51.7 million and $ 2.59 per diluted share for the same period in 2019. changes in net income for the year ended december 31 , 2020 compared to december 31 , 2019 include : ( i ) an $ 18.6 million , or 13.1 % , increase in net interest income ; ( ii ) a $ 5.8 million , or 101.8 % , increase in the provision for credit losses ; ( iii ) a $ 5.7 million , or 22.4 % , decrease in non-interest page -28- income ; ( iv ) a $ 17.1 million , or 17.8 % , increase in non-interest expense ; and ( v ) a $ 0.4 million , or 2.7 % , decrease in income tax expense . net interest income net interest income , the primary contributor to earnings , represents the difference between income on interest-earning assets and expenses on interest-bearing liabilities . net interest income depends on the volume of interest-earning assets and interest-bearing liabilities and the interest rates earned or paid on them . the following table presents certain information relating to our average consolidated balance sheets and our consolidated statements of income for the periods indicated and reflects the average yield on assets and average cost of liabilities for those periods on a tax-equivalent basis based on the u.s. federal statutory tax rate . such yields and costs are derived by dividing income or expense by the average balance of assets or liabilities , respectively , for the periods shown . average balances are derived from daily average balances and include non-accrual loans . the yields and costs include fees and costs , which are considered adjustments to yields . interest on non-accrual loans has been included only to the extent reflected in the consolidated statements of income . for purposes of this table , the average balances for investments in debt and equity securities exclude unrealized appreciation/depreciation due to the application of fasb accounting standards codification ( “ asc ” ) 320 , “ investments - debt and equity securities ” . page -29- replace_table_token_6_th ( 1 ) amounts are net of deferred origination costs/ ( fees ) and allowance for credit losses , and include loans held for sale . ( 2 ) presented on a tax-equivalent basis based on the u.s. federal statutory tax rate of 21 % . ( 3 ) net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities . ( 4 ) net interest margin represents net interest income divided by average interest-earning assets . ​ page -30- rate/volume analysis net interest income can be analyzed in terms of the impact of changes in rates and volumes . the following table illustrates the extent to which changes in interest rates and in the volume of average interest-earning assets and interest-bearing liabilities have affected our interest income and interest expense during the periods indicated . information is provided in each category with respect to ( i ) changes attributable to changes in volume ( changes in volume multiplied by prior rate ) ; ( ii ) changes attributable to changes in rates ( changes in rates multiplied by prior volume ) ; and ( iii ) the net changes . for purposes of this table , changes that are not due solely to volume or rate changes have been allocated to these categories based on the respective percentage changes in average volume and rate . due to the numerous simultaneous volume and rate changes during the periods analyzed , it is not possible to precisely allocate changes between volume and rates . in addition , average interest-earning assets include non-accrual loans . replace_table_token_7_th ( 1 ) amounts are net of deferred origination costs/ ( fees ) and allowance for credit losses , and include loans held for sale . ( 2 ) presented on a tax-equivalent basis based on the u.s. federal statutory tax rate of 21 % . ​ net interest income increased $ 18.6 million , or 13.1 % , to $ 160.8 million for the year ended december 31 , 2020 compared to $ 142.2 million for the year ended december 31 , 2019. average net interest-earning assets increased $ 637.7 million to $ 2.2 billion for 2020 compared to $ 1.5 billion for 2019. the increase in average net interest-earning assets was primarily driven by loan growth in the commercial and industrial portfolio , and a rise in deposits with banks , partially offset by increases in average deposits and average borrowings , and a decrease in average investment securities . tax-equivalent net interest margin was 2.99 % in 2020 compared to 3.31 % in 2019. the decrease in tax-equivalent net interest margin for 2020 compared to 2019 reflects the lower average yield on our loan portfolio and significantly higher levels of cash earning low average yields , partially offset by lower overall funding costs , due in part to federal funds rate decreases during the third and fourth quarter of 2019 and the first quarter of 2020. in response to the covid-19 outbreak , the federal reserve has reduced the benchmark federal funds rate to a target range of 0 % to 0.25 % during the 2020 first quarter . we took this opportunity to lower our funding costs and stabilize our net interest margin . total interest income increased $ 2.7 million , or 1.5 % , to $ 184.2 million in 2020 compared to $ 181.5

liquidity our liquidity management objectives are to ensure the sufficiency of funds available to respond to the needs of depositors and borrowers , and to take advantage of unanticipated opportunities for our growth or earnings enhancement . liquidity management addresses our ability to meet financial obligations that arise in the normal course of business . liquidity is primarily needed to meet customer borrowing commitments and deposit withdrawals , either on demand or on contractual maturity , to repay borrowings as they mature , to fund current and planned expenditures and to make new loans and investments as opportunities arise . the holding company 's principal sources of liquidity included cash and cash equivalents of $ 0.3 million as of december 31 , 2020 , and dividend capabilities from the bank . cash available for distribution of dividends to our shareholders is primarily derived from dividends paid by the bank to the company . during 2020 , the bank paid $ 26.5 million in cash dividends to the holding company . prior regulatory approval is required if the total of all dividends declared by the bank in any calendar year exceeds the total of the bank 's net income for that year combined with its retained net income of the preceding two years . as of january 1 , 2021 , the bank had $ 49.8 million of retained net income available for dividends to the holding company . in the event that the holding company subsequently expands its current operations , in addition to dividends from the bank , it will need to rely on its own earnings , additional capital raised and other borrowings to meet liquidity needs . the holding company did not make any capital contributions to the bank during the year ended december 31 , 2020. the bank 's most liquid assets are cash and cash equivalents , securities available for sale and securities held to maturity due within one year . the levels of these assets are dependent on the bank 's operating , financing , lending and investing activities during any given period .


 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 our liquidity management objectives are to ensure the sufficiency of funds available to respond to the needs of depositors and borrowers , and to take advantage of unanticipated opportunities for our growth or earnings enhancement . liquidity management addresses our ability to meet financial obligations that arise in the normal course of business . liquidity is primarily needed to meet customer borrowing commitments and deposit withdrawals , either on demand or on contractual maturity , to repay borrowings as they mature , to fund current and planned expenditures and to make new loans and investments as opportunities arise . the holding company 's principal sources of liquidity included cash and cash equivalents of $ 0.3 million as of december 31 , 2020 , and dividend capabilities from the bank . cash available for distribution of dividends to our shareholders is primarily derived from dividends paid by the bank to the company . during 2020 , the bank paid $ 26.5 million in cash dividends to the holding company . prior regulatory approval is required if the total of all dividends declared by the bank in any calendar year exceeds the total of the bank 's net income for that year combined with its retained net income of the preceding two years . as of january 1 , 2021 , the bank had $ 49.8 million of retained net income available for dividends to the holding company . in the event that the holding company subsequently expands its current operations , in addition to dividends from the bank , it will need to rely on its own earnings , additional capital raised and other borrowings to meet liquidity needs . the holding company did not make any capital contributions to the bank during the year ended december 31 , 2020. the bank 's most liquid assets are cash and cash equivalents , securities available for sale and securities held to maturity due within one year . the levels of these assets are dependent on the bank 's operating , financing , lending and investing activities during any given period .
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 Suspicious Activity Report : overview who we are and how we generate income dime community bancshares , inc. , a new york corporation previously known as “ bridge bancorp , inc. , ” is a bank holding company formed in 1989. on a parent-only basis , the holding company has had minimal results of operations . the holding company is dependent on dividends from its wholly-owned subsidiary , dime community bank , which was previously known as “ bnb bank , ” its own earnings , additional capital raised , and borrowings as sources of funds . the information in this report reflects principally the financial condition and results of operations of the bank . the bank 's results of operations are primarily dependent on its net interest income , which is the difference between interest income on loans and investments and interest expense on deposits and borrowings . the bank also generates non-interest income , such as fee income on deposit accounts and merchant credit and debit card processing programs , loan swap fees , investment services , income from its title insurance subsidiary , and net gains on sales of securities and loans . the level of non-interest expenses , such as salaries and benefits , occupancy and equipment costs , other general and administrative expenses , page -23- expenses from the bank 's title insurance subsidiary , and income tax expense , further affects our net income . we believe the merger created the opportunity for the resulting company to leverage complementary and diversified revenue streams and to potentially have superior future earnings and prospects compared to our current earnings and prospects on a stand-alone basis . certain reclassifications have been made to prior year amounts and the related discussion and analysis to conform to the current year presentation . these reclassifications did not have an impact on net income or total stockholders ' equity . year and quarterly highlights ( prior to the completion of the merger on february 1 , 2021 ) ● net income for the 2020 fourth quarter of $ 9.0 million , or $ 0.45 per diluted share , inclusive of merger and stock acceleration expenses related to the merger . ​ ● net income for the full year 2020 was $ 42.0 million , or $ 2.11 per diluted share , compared to $ 51.7 million , or $ 2.59 per diluted share , for the full year 2019. inclusive of : o pre-tax merger expenses of $ 4.5 million , or $ 0.21 per diluted share , in the last six months of 2020. o pre-tax stock acceleration expenses of $ 4.2 million , or $ 0.21 per diluted share , in the 2020 fourth quarter . ​ ● net interest income increased to $ 160.8 million for 2020 , compared to $ 142.2 million in 2019 . ● tax-equivalent net interest margin was 2.99 % for 2020 and 3.31 % in 2019 . ● total assets of $ 6.4 billion at december 31 , 2020 , an increase of $ 1.5 billion , or 30.7 % , over december 31 , 2019 . ● total loans held for investment at december 31 , 2020 of $ 4.6 billion , inclusive of ppp loans totaling $ 844.7 million , an increase of $ 917.1 million , or 24.9 % , over december 31 , 2019 . ● total deposits of $ 5.5 billion at december 31 , 2020 , an increase of $ 1.7 billion , or 43.9 % , compared to december 31 , 2019 . ● provision for credit losses of $ 11.5 million for 2020 , compared to $ 5.7 million in 2019 . ● allowance for credit losses was 0.96 % of loans as of december 31 , 2020 , compared to 0.89 % at december 31 , 2019 . ● cash dividends of $ 19.2 million were paid in 2020 , representing $ 0.96 per share . a cash dividend of $ 4.8 million , or $ 0.24 per share , was declared in january 2021 and paid in february 2021 for the fourth quarter . challenges and opportunities the covid-19 pandemic has caused us to modify our business practices , including employee travel and employee work locations , as many employees are working remotely . various state governments and federal agencies are requiring lenders to provide forbearance and other relief to borrowers , such as waiving late payment and other fees . given the ongoing and dynamic nature of the circumstances , it is difficult to predict the challenges our business will face and the full impact of the covid-19 outbreak on our business . we continue to face challenges associated with ever-increasing banking regulations and the current low interest rate environment . a prolonged inverted or flat yield curve presents a challenge to a bank , like us , that derives most of its revenue from net interest margin . a sustained decrease in market interest rates could adversely affect our earnings . when interest rates decline , borrowers tend to refinance higher-rate , fixed-rate loans at lower rates . in addition , the majority of our loans are at variable interest rates , which would adjust to lower rates . in response to the covid-19 outbreak , the federal reserve has reduced the benchmark federal funds rate to a target range of 0 % to 0.25 % during the 2020 first quarter . we took this opportunity to lower our funding costs and stabilize our net interest margin . page -24- we established five strategic objectives to achieve our vision : ( 1 ) acquire new customers in growth markets ; ( 2 ) build new sales and marketing disciplines ; ( 3 ) deepen customer relationships ; ( 4 ) expand use of automation ; and ( 5 ) improve talent management . story_separator_special_tag such agencies may require us to recognize adjustments to the allowance based on their judgments of the information available to them at the time of their examination . for additional information regarding the allowance for credit losses , see note 4 of the notes to the consolidated financial statements . net income net income for the year ended december 31 , 2020 was $ 42.0 million and $ 2.11 per diluted share as compared to $ 51.7 million and $ 2.59 per diluted share for the same period in 2019. changes in net income for the year ended december 31 , 2020 compared to december 31 , 2019 include : ( i ) an $ 18.6 million , or 13.1 % , increase in net interest income ; ( ii ) a $ 5.8 million , or 101.8 % , increase in the provision for credit losses ; ( iii ) a $ 5.7 million , or 22.4 % , decrease in non-interest page -28- income ; ( iv ) a $ 17.1 million , or 17.8 % , increase in non-interest expense ; and ( v ) a $ 0.4 million , or 2.7 % , decrease in income tax expense . net interest income net interest income , the primary contributor to earnings , represents the difference between income on interest-earning assets and expenses on interest-bearing liabilities . net interest income depends on the volume of interest-earning assets and interest-bearing liabilities and the interest rates earned or paid on them . the following table presents certain information relating to our average consolidated balance sheets and our consolidated statements of income for the periods indicated and reflects the average yield on assets and average cost of liabilities for those periods on a tax-equivalent basis based on the u.s. federal statutory tax rate . such yields and costs are derived by dividing income or expense by the average balance of assets or liabilities , respectively , for the periods shown . average balances are derived from daily average balances and include non-accrual loans . the yields and costs include fees and costs , which are considered adjustments to yields . interest on non-accrual loans has been included only to the extent reflected in the consolidated statements of income . for purposes of this table , the average balances for investments in debt and equity securities exclude unrealized appreciation/depreciation due to the application of fasb accounting standards codification ( “ asc ” ) 320 , “ investments - debt and equity securities ” . page -29- replace_table_token_6_th ( 1 ) amounts are net of deferred origination costs/ ( fees ) and allowance for credit losses , and include loans held for sale . ( 2 ) presented on a tax-equivalent basis based on the u.s. federal statutory tax rate of 21 % . ( 3 ) net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities . ( 4 ) net interest margin represents net interest income divided by average interest-earning assets . ​ page -30- rate/volume analysis net interest income can be analyzed in terms of the impact of changes in rates and volumes . the following table illustrates the extent to which changes in interest rates and in the volume of average interest-earning assets and interest-bearing liabilities have affected our interest income and interest expense during the periods indicated . information is provided in each category with respect to ( i ) changes attributable to changes in volume ( changes in volume multiplied by prior rate ) ; ( ii ) changes attributable to changes in rates ( changes in rates multiplied by prior volume ) ; and ( iii ) the net changes . for purposes of this table , changes that are not due solely to volume or rate changes have been allocated to these categories based on the respective percentage changes in average volume and rate . due to the numerous simultaneous volume and rate changes during the periods analyzed , it is not possible to precisely allocate changes between volume and rates . in addition , average interest-earning assets include non-accrual loans . replace_table_token_7_th ( 1 ) amounts are net of deferred origination costs/ ( fees ) and allowance for credit losses , and include loans held for sale . ( 2 ) presented on a tax-equivalent basis based on the u.s. federal statutory tax rate of 21 % . ​ net interest income increased $ 18.6 million , or 13.1 % , to $ 160.8 million for the year ended december 31 , 2020 compared to $ 142.2 million for the year ended december 31 , 2019. average net interest-earning assets increased $ 637.7 million to $ 2.2 billion for 2020 compared to $ 1.5 billion for 2019. the increase in average net interest-earning assets was primarily driven by loan growth in the commercial and industrial portfolio , and a rise in deposits with banks , partially offset by increases in average deposits and average borrowings , and a decrease in average investment securities . tax-equivalent net interest margin was 2.99 % in 2020 compared to 3.31 % in 2019. the decrease in tax-equivalent net interest margin for 2020 compared to 2019 reflects the lower average yield on our loan portfolio and significantly higher levels of cash earning low average yields , partially offset by lower overall funding costs , due in part to federal funds rate decreases during the third and fourth quarter of 2019 and the first quarter of 2020. in response to the covid-19 outbreak , the federal reserve has reduced the benchmark federal funds rate to a target range of 0 % to 0.25 % during the 2020 first quarter . we took this opportunity to lower our funding costs and stabilize our net interest margin . total interest income increased $ 2.7 million , or 1.5 % , to $ 184.2 million in 2020 compared to $ 181.5

