cash connect ® also operates 441 atms for the bank , which has the largest branded atm network in our market . as a provider of atm vault cash to the u.s. atm industry , cash connect ® is exposed to substantial operational risk , including theft of cash from atms , armored vehicles , or armored carrier terminals , as well as general risk of accounting errors or fraud . this risk is managed through a series of financial controls , automated tracking and settlement systems , contracts , and other risk mitigation strategies , including both loss prevention and loss recovery strategies . throughout its 18 -year history , cash connect ® periodically has been exposed to theft from armored courier companies and consistently has been able to recover losses through its risk management strategies , although there can be no guarantees that we will be able to recover future losses . 43 our wealth management segment provides a broad array of planning and advisory services , investment management , trust services , and credit and deposit products to individual , corporate , and institutional clients through multiple integrated businesses . combined , these businesses had $ 19.0 billion of assets under management ( aum ) and assets under administration ( aua ) at december 31 , 2018 . wsfs wealth investments provides financial advisory services along with insurance and brokerage products . cypress , a registered investment adviser , is a fee-only wealth management firm managing a “ balanced ” investment style portfolio focused on preservation of capital and generating current income . west capital , a registered investment adviser , is a fee-only wealth management firm operating under a multi-family office philosophy to provide customized solutions to institutions and high-net-worth individuals . the trust division of wsfs bank ( doing business as wsfs institutional services ) provides personal trust and fiduciary services , as well as , trustee , agency , bankruptcy administration , custodial and commercial domicile services to corporate and institutional clients . powdermill is a multi-family office specializing in providing independent solutions to high-net-worth individuals , families and corporate executives through a coordinated , centralized approach . wsfs wealth client management serves high-net-worth clients by delivering credit and deposit products and partnering with other wealth management units to provide comprehensive solutions to clients . as a provider of trust services to our clients , we are exposed to operational , reputation-related , and legal risks due to the inherent complexity of the trust business . to mitigate these risks , we rely on the hiring , development , and retention of experienced associates , financial controls , managerial oversight , and other risk management practices . also , from time to time our trust business may give rise to disputes with clients and we may be exposed to litigation which could result in significant costs . the ultimate outcome of any litigation is uncertain . results of operations 2018 compared with 2017 we recorded net income of $ 134.7 million , or $ 4.19 per diluted common share , for the year ended december 31 , 2018 , an increase of $ 84.5 million compared to $ 50.2 million , or $ 1.56 per diluted common share , for the year ended december 31 , 2017 . results in 2018 included a partial recovery related to a legal settlement of $ 7.9 million and corporate development costs of $ 6.5 million related to our pending acquisition of beneficial , compared to $ 0.9 million of similar costs in 2017 . results for 2017 were impacted by the enactment of the tax cuts and jobs act ( tax reform act ) in december 2017 , which required us to re-measure our deferred tax asset , resulting in a tax charge of $ 14.5 million in the quarter ended december 31 , 2017 . additionally , and related to this tax change , we decided to surrender all of our bank-owned life insurance ( boli ) policies in 2018 , resulting in an additional tax charge of $ 8.0 million for the quarter ended december 31 , 2017 , and we also contributed $ 1.5 million ( pre-tax ) to the wsfs foundation in the same quarter . further , during the first quarter of 2018 , we agreed to the settlement of a legal claim , which resulted in legal expense of $ 12.0 million recorded in the fourth quarter of 2017 . net interest income for the year ended december 31 , 2018 was $ 246.5 million , an increase of $ 25.2 million compared to 2017 . our provision for loan losses increase d $ 2.2 million in 2018 , primarily due to loan portfolio growth and the deterioration of three large relationships , which more than offset the generally favorable portfolio migration in 2018 . noninterest , or fee income , increase d $ 37.9 million primarily due to unrealized and realized gains on our investment in visa class b shares , as well as growth in credit/debit card and atm income and higher investment management and fiduciary revenue . finally , operating expenses decrease d $ 1.4 million in 2018 , primarily reflecting insurance recoveries related to a settlement of a legal claim and fraud loss in 2017 , partially offset by higher employee-related and ongoing operating costs to support our growth . see the net interest income , provision for loan losses , noninterest ( fee ) income , and noninterest expense sections below for further information . 2017 compared with 2016 we recorded net income of $ 50.2 million , or $ 1.56 per diluted common share , for the year ended december 31 , 2017 , a decrease of $ 13.8 million compared to $ 64.1 million , or $ 2.06 per diluted common share , for the year ended december 31 , 2016 . story_separator_special_tag total liabilities increase d $ 152.8 million , or 2 % , during the year to $ 6.4 billion at december 31 , 2018 , primarily comprised of the following ( in descending order of magnitude ) . customer deposits : customer deposits increase d $ 424.4 million , or 8 % , during 2018 to $ 5.4 billion . core deposit relationships increased $ 380.5 million , or 9 % , and customer time deposits increased $ 43.9 million , or 7 % , primarily due to organic growth . the table below depicts the changes in customer deposits during the last three years : replace_table_token_15_th borrowings and brokered deposits : borrowings and brokered deposits decrease d by $ 269.6 million . included in the decrease was a $ 381.5 million decrease in fhlb advances , which was primarily due an increase in deposits , partially offset by higher fed funds purchased , which increase d $ 130.0 million , due to a change in our funding mix between the fed funds and fhlb advances and an increase of $ 13.3 million , in other borrowed funds , which was primarily due to higher sweep repurchase balances . we did not have any securities sold under repurchase agreements at december 31 , 2018 . 51 stockholders ' equity stockholders ' equity increase d $ 96.6 million , or 13 % , to $ 820.9 million at december 31 , 2018 compared to $ 724.3 million at december 31 , 2017 . capital in excess of par value increase d $ 13.5 million , primarily due to stock-based compensation expense and the issuance of stock related to the exercise of stock options . retained earnings increase d $ 121.5 million , or 18 % , to $ 791.0 million during 2018 , primarily as a result of earnings from the year less dividends paid . these increases in stockholders ' equity were partially offset by $ 31.2 million related to share repurchases during 2018 , and $ 7.2 million from a decline in the fair value of our available-for-sale securities portfolio . asset/liability management our primary asset/liability management goal is to optimize long term net interest income opportunities within the constraints of managing interest rate risk , ensuring adequate liquidity and funding and maintaining a strong capital base . in general , interest rate risk is mitigated by closely matching the maturities or repricing periods of interest-sensitive assets and liabilities to ensure a favorable interest rate spread . we regularly review our interest-rate sensitivity , and use a variety of strategies as needed to adjust that sensitivity within acceptable tolerance ranges established by management and our board of directors . changing the relative proportions of fixed-rate and adjustable-rate assets and liabilities is one of our primary strategies to accomplish this objective . the matching of assets and liabilities may be analyzed using a number of methods including by examining the extent to which such assets and liabilities are “ interest-rate sensitive ” and by monitoring our interest-sensitivity gap . an interest-sensitivity gap is considered positive when the amount of interest-rate sensitive assets exceeds the amount of interest-rate sensitive liabilities repricing within a defined period , and is considered negative when the amount of interest-rate sensitive liabilities exceeds the amount of interest-rate sensitive assets repricing within a defined period . for additional information related to interest rate sensitivity , see item 7a . quantitative and qualitative disclosures about market risk . 52 the repricing and maturities of our interest-rate sensitive assets and interest-rate sensitive liabilities at december 31 , 2018 are shown in the following table : replace_table_token_16_th ( 1 ) includes commercial mortgage , construction , and residential mortgage loans ( 2 ) loan balances exclude nonaccruing loans , deferred fees and costs ( 3 ) assumes two-thirds of loans in process are variable and will reprice within one-year generally , during a period of rising interest rates , a positive gap would result in an increase in net interest income while a negative gap would adversely affect net interest income . conversely , during a period of falling rates , a positive gap would result in a decrease in net interest income while a negative gap would augment net interest income . however , the interest-sensitivity table does not provide a comprehensive representation of the impact of interest rate changes on net interest income . each category of assets or liabilities will not be affected equally or simultaneously by changes in the general level of interest rates . even assets and liabilities which contractually reprice within the rate period may reprice at the same price , at the same time or with the same frequency . it is also important to consider that the table represents a specific point in time . variations can occur as we adjust our interest sensitivity position throughout the year . to provide a more accurate position of our one-year gap , certain deposit classifications are based on the interest-rate sensitive attributes and not on the contractual repricing characteristics of these deposits . for the purpose of this analysis , we estimate , based on historical trends of our deposit accounts , that 75 % of our money market deposits , 50 % of our interest-bearing demand deposits and 50 % of our savings deposits are sensitive to interest rate changes . accordingly , these interest-sensitive portions are classified in the “ less than one year ” category with the remainder in the “ over five years ” category . deposit rates other than time deposit rates are variable . changes in deposit rates are generally subject to local market conditions and our discretion and are not indexed to any particular rate . 53 nonperforming assets nonperforming assets ( npas ) include nonaccruing loans , other real estate owned ( oreo ) and restructured loans . nonaccruing loans are those on which the accrual of interest has ceased . loans are placed on nonaccrual

cash connect ® segment the cash connect ® segment income before taxes decreased $ 1.3 million , or 18 % , in 2018 compared to 2017 primarily due to a $ 5.7 million , or 21 % , increase in expenses associated with increased investments for several new services and product enhancements to our fee-based managed services and smart safe offerings , which continue to both diversify and expand revenue sources . the decrease was also driven by an increase of $ 3.6 million , or 38 % . in funding costs and a one-time true up adjustment of $ 0.9 million . offsetting these expense increases , external fee income increased $ 8.0 million or 19 % . cash connect ® had over $ 1.0 billion and $ 970.1 million in total cash managed at december 31 , 2018 and 2017 , respectively . at year-end 2018 , cash connect ® serviced over 24,300 non-bank atms and approximately 2,300 retail smart safes nationwide compared to over 20,000 non-bank atms and 800 smart safes at year-end 2017 . the cash connect® segment income before taxes decreased $ 1.1 million , or 13 % , in 2017 compared to 2016 primarily due to a $ 6.9 million , or 35 % , increase in expenses associated with increased investments for several new services and product enhancements to our fee-based managed services and smart safe offerings , which continue to both diversify and expand revenue sources , as well as an increase of $ 3.7 million , or 65 % in funding costs . offsetting these expense increases , external fee income increased $ 10 million or 29 % .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash connect ® segment the cash connect ® segment income before taxes decreased $ 1.3 million , or 18 % , in 2018 compared to 2017 primarily due to a $ 5.7 million , or 21 % , increase in expenses associated with increased investments for several new services and product enhancements to our fee-based managed services and smart safe offerings , which continue to both diversify and expand revenue sources . the decrease was also driven by an increase of $ 3.6 million , or 38 % . in funding costs and a one-time true up adjustment of $ 0.9 million . offsetting these expense increases , external fee income increased $ 8.0 million or 19 % . cash connect ® had over $ 1.0 billion and $ 970.1 million in total cash managed at december 31 , 2018 and 2017 , respectively . at year-end 2018 , cash connect ® serviced over 24,300 non-bank atms and approximately 2,300 retail smart safes nationwide compared to over 20,000 non-bank atms and 800 smart safes at year-end 2017 . the cash connect® segment income before taxes decreased $ 1.1 million , or 13 % , in 2017 compared to 2016 primarily due to a $ 6.9 million , or 35 % , increase in expenses associated with increased investments for several new services and product enhancements to our fee-based managed services and smart safe offerings , which continue to both diversify and expand revenue sources , as well as an increase of $ 3.7 million , or 65 % in funding costs . offsetting these expense increases , external fee income increased $ 10 million or 29 % .
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 Suspicious Activity Report : cash connect ® also operates 441 atms for the bank , which has the largest branded atm network in our market . as a provider of atm vault cash to the u.s. atm industry , cash connect ® is exposed to substantial operational risk , including theft of cash from atms , armored vehicles , or armored carrier terminals , as well as general risk of accounting errors or fraud . this risk is managed through a series of financial controls , automated tracking and settlement systems , contracts , and other risk mitigation strategies , including both loss prevention and loss recovery strategies . throughout its 18 -year history , cash connect ® periodically has been exposed to theft from armored courier companies and consistently has been able to recover losses through its risk management strategies , although there can be no guarantees that we will be able to recover future losses . 43 our wealth management segment provides a broad array of planning and advisory services , investment management , trust services , and credit and deposit products to individual , corporate , and institutional clients through multiple integrated businesses . combined , these businesses had $ 19.0 billion of assets under management ( aum ) and assets under administration ( aua ) at december 31 , 2018 . wsfs wealth investments provides financial advisory services along with insurance and brokerage products . cypress , a registered investment adviser , is a fee-only wealth management firm managing a “ balanced ” investment style portfolio focused on preservation of capital and generating current income . west capital , a registered investment adviser , is a fee-only wealth management firm operating under a multi-family office philosophy to provide customized solutions to institutions and high-net-worth individuals . the trust division of wsfs bank ( doing business as wsfs institutional services ) provides personal trust and fiduciary services , as well as , trustee , agency , bankruptcy administration , custodial and commercial domicile services to corporate and institutional clients . powdermill is a multi-family office specializing in providing independent solutions to high-net-worth individuals , families and corporate executives through a coordinated , centralized approach . wsfs wealth client management serves high-net-worth clients by delivering credit and deposit products and partnering with other wealth management units to provide comprehensive solutions to clients . as a provider of trust services to our clients , we are exposed to operational , reputation-related , and legal risks due to the inherent complexity of the trust business . to mitigate these risks , we rely on the hiring , development , and retention of experienced associates , financial controls , managerial oversight , and other risk management practices . also , from time to time our trust business may give rise to disputes with clients and we may be exposed to litigation which could result in significant costs . the ultimate outcome of any litigation is uncertain . results of operations 2018 compared with 2017 we recorded net income of $ 134.7 million , or $ 4.19 per diluted common share , for the year ended december 31 , 2018 , an increase of $ 84.5 million compared to $ 50.2 million , or $ 1.56 per diluted common share , for the year ended december 31 , 2017 . results in 2018 included a partial recovery related to a legal settlement of $ 7.9 million and corporate development costs of $ 6.5 million related to our pending acquisition of beneficial , compared to $ 0.9 million of similar costs in 2017 . results for 2017 were impacted by the enactment of the tax cuts and jobs act ( tax reform act ) in december 2017 , which required us to re-measure our deferred tax asset , resulting in a tax charge of $ 14.5 million in the quarter ended december 31 , 2017 . additionally , and related to this tax change , we decided to surrender all of our bank-owned life insurance ( boli ) policies in 2018 , resulting in an additional tax charge of $ 8.0 million for the quarter ended december 31 , 2017 , and we also contributed $ 1.5 million ( pre-tax ) to the wsfs foundation in the same quarter . further , during the first quarter of 2018 , we agreed to the settlement of a legal claim , which resulted in legal expense of $ 12.0 million recorded in the fourth quarter of 2017 . net interest income for the year ended december 31 , 2018 was $ 246.5 million , an increase of $ 25.2 million compared to 2017 . our provision for loan losses increase d $ 2.2 million in 2018 , primarily due to loan portfolio growth and the deterioration of three large relationships , which more than offset the generally favorable portfolio migration in 2018 . noninterest , or fee income , increase d $ 37.9 million primarily due to unrealized and realized gains on our investment in visa class b shares , as well as growth in credit/debit card and atm income and higher investment management and fiduciary revenue . finally , operating expenses decrease d $ 1.4 million in 2018 , primarily reflecting insurance recoveries related to a settlement of a legal claim and fraud loss in 2017 , partially offset by higher employee-related and ongoing operating costs to support our growth . see the net interest income , provision for loan losses , noninterest ( fee ) income , and noninterest expense sections below for further information . 2017 compared with 2016 we recorded net income of $ 50.2 million , or $ 1.56 per diluted common share , for the year ended december 31 , 2017 , a decrease of $ 13.8 million compared to $ 64.1 million , or $ 2.06 per diluted common share , for the year ended december 31 , 2016 . story_separator_special_tag total liabilities increase d $ 152.8 million , or 2 % , during the year to $ 6.4 billion at december 31 , 2018 , primarily comprised of the following ( in descending order of magnitude ) . customer deposits : customer deposits increase d $ 424.4 million , or 8 % , during 2018 to $ 5.4 billion . core deposit relationships increased $ 380.5 million , or 9 % , and customer time deposits increased $ 43.9 million , or 7 % , primarily due to organic growth . the table below depicts the changes in customer deposits during the last three years : replace_table_token_15_th borrowings and brokered deposits : borrowings and brokered deposits decrease d by $ 269.6 million . included in the decrease was a $ 381.5 million decrease in fhlb advances , which was primarily due an increase in deposits , partially offset by higher fed funds purchased , which increase d $ 130.0 million , due to a change in our funding mix between the fed funds and fhlb advances and an increase of $ 13.3 million , in other borrowed funds , which was primarily due to higher sweep repurchase balances . we did not have any securities sold under repurchase agreements at december 31 , 2018 . 51 stockholders ' equity stockholders ' equity increase d $ 96.6 million , or 13 % , to $ 820.9 million at december 31 , 2018 compared to $ 724.3 million at december 31 , 2017 . capital in excess of par value increase d $ 13.5 million , primarily due to stock-based compensation expense and the issuance of stock related to the exercise of stock options . retained earnings increase d $ 121.5 million , or 18 % , to $ 791.0 million during 2018 , primarily as a result of earnings from the year less dividends paid . these increases in stockholders ' equity were partially offset by $ 31.2 million related to share repurchases during 2018 , and $ 7.2 million from a decline in the fair value of our available-for-sale securities portfolio . asset/liability management our primary asset/liability management goal is to optimize long term net interest income opportunities within the constraints of managing interest rate risk , ensuring adequate liquidity and funding and maintaining a strong capital base . in general , interest rate risk is mitigated by closely matching the maturities or repricing periods of interest-sensitive assets and liabilities to ensure a favorable interest rate spread . we regularly review our interest-rate sensitivity , and use a variety of strategies as needed to adjust that sensitivity within acceptable tolerance ranges established by management and our board of directors . changing the relative proportions of fixed-rate and adjustable-rate assets and liabilities is one of our primary strategies to accomplish this objective . the matching of assets and liabilities may be analyzed using a number of methods including by examining the extent to which such assets and liabilities are “ interest-rate sensitive ” and by monitoring our interest-sensitivity gap . an interest-sensitivity gap is considered positive when the amount of interest-rate sensitive assets exceeds the amount of interest-rate sensitive liabilities repricing within a defined period , and is considered negative when the amount of interest-rate sensitive liabilities exceeds the amount of interest-rate sensitive assets repricing within a defined period . for additional information related to interest rate sensitivity , see item 7a . quantitative and qualitative disclosures about market risk . 52 the repricing and maturities of our interest-rate sensitive assets and interest-rate sensitive liabilities at december 31 , 2018 are shown in the following table : replace_table_token_16_th ( 1 ) includes commercial mortgage , construction , and residential mortgage loans ( 2 ) loan balances exclude nonaccruing loans , deferred fees and costs ( 3 ) assumes two-thirds of loans in process are variable and will reprice within one-year generally , during a period of rising interest rates , a positive gap would result in an increase in net interest income while a negative gap would adversely affect net interest income . conversely , during a period of falling rates , a positive gap would result in a decrease in net interest income while a negative gap would augment net interest income . however , the interest-sensitivity table does not provide a comprehensive representation of the impact of interest rate changes on net interest income . each category of assets or liabilities will not be affected equally or simultaneously by changes in the general level of interest rates . even assets and liabilities which contractually reprice within the rate period may reprice at the same price , at the same time or with the same frequency . it is also important to consider that the table represents a specific point in time . variations can occur as we adjust our interest sensitivity position throughout the year . to provide a more accurate position of our one-year gap , certain deposit classifications are based on the interest-rate sensitive attributes and not on the contractual repricing characteristics of these deposits . for the purpose of this analysis , we estimate , based on historical trends of our deposit accounts , that 75 % of our money market deposits , 50 % of our interest-bearing demand deposits and 50 % of our savings deposits are sensitive to interest rate changes . accordingly , these interest-sensitive portions are classified in the “ less than one year ” category with the remainder in the “ over five years ” category . deposit rates other than time deposit rates are variable . changes in deposit rates are generally subject to local market conditions and our discretion and are not indexed to any particular rate . 53 nonperforming assets nonperforming assets ( npas ) include nonaccruing loans , other real estate owned ( oreo ) and restructured loans . nonaccruing loans are those on which the accrual of interest has ceased . loans are placed on nonaccrual

