replace_table_token_9_th ​ provision for credit losses the provision for credit losses is an income adjustment used to maintain the acl at a level deemed appropriate by management to absorb inherent losses on existing loans . the provision for credit losses was $ 18.9 million for the year ended december 31 , 2020 , an increase of $ 16.5 million compared to the year ended december 31 , 2019 , primarily due to the impact of the covid-19 pandemic , the sustained instability of the oil and gas industry , an increase in adversely graded loans and an increase in charge-offs . noninterest income the following table presents components of noninterest income for the years ended december 31 , 2020 and 2019 and the period-over-period changes in the categories of noninterest income : replace_table_token_10_th ​ noninterest income was $ 14.8 million for the year ended december 31 , 2020 and $ 18.6 million for the year ended december 31 , 2019. the decrease in noninterest income during the year ended december 31 , 2020 , compared to the year ended december 31 , 2019 , was primarily due to earnings on bank-owned life insurance . during the year ended december 31 , 2020 , the company received nontaxable death proceeds of $ 2.0 million under the bank-owned life insurance policies and recorded a gain of $ 769,000 over the carrying value recorded . during the year ended december 31 , 2019 , the company received nontaxable death benefit proceeds of $ 4.7 million under bank-owned life insurance policies and a gain of $ 3.3 million over the carrying value recorded . in addition , deposit account service charges decreased due to a reduction in the amount of insufficient funds and overdraft fees charged on deposit accounts and lower transactional volumes . 50 table noninterest expense generally , noninterest expense is composed of employee expenses and costs associated with operating facilities , obtaining and retaining customer relationships and providing bank services . see further analysis of these changes in the related discussions that follow . replace_table_token_11_th ​ noninterest expense was $ 92.1 million for the year ended december 31 , 2020 and $ 90.1 million for the year ended december 31 , 2019. the increase in noninterest expense of $ 2.0 million between the year ended december 31 , 2020 and 2019 was primarily due to a $ 1.3 million increase in professional and director fees , a $ 934,000 increase in data processing and software costs , a $ 660,000 increase in regulatory fees , partially offset by an $ 807,000 decrease in salaries and employee benefits . the increase in professional and director fees during the year ended december 31 , 2020 was primarily due to $ 3.9 million in consulting related fees associated with bsa/aml compliance matters , compared to $ 18,000 during the year ended december 31 , 2019 , partially offset by lower legal fees of $ 721,000 during the year ended december 31 , 2020 , compared to $ 3.7 million during the year ended december 31 , 2019. income tax expense income tax expense was $ 6.0 million and $ 11.6 million for the years ended december 31 , 2020 and 2019 , respectively . the amount of income tax expense for each year was impacted by the amounts of pre-tax income , tax-exempt income and other nondeductible expenses . income tax expense and effective tax rates for the periods shown below were as follows : replace_table_token_12_th ​ the differences between the federal statutory rate of 21 % and the effective tax rates presented in the table above were primarily related to tax-exempt interest and bank-owned life insurance . the decrease in the effective rate for the year ended december 31 , 2020 was primarily due to tax-exempt gains related to the bank-owned life insurance . ​ 51 table year ended december 31 , 2019 vs year ended december 31 , 2018 net income for the year ended december 31 , 2019 increased 6.8 % , compared to the year ended december 31 , 2018. this increase was primarily due to increased net interest income and noninterest income , partially offset by a higher provision for credit losses and higher noninterest expense . see further analysis of these changes in the related discussions that follow . replace_table_token_13_th ​ net interest income net interest income for the year ended december 31 , 2019 was $ 136.0 million , compared to $ 124.7 million for the year ended december 31 , 2018 , an increase of $ 11.3 million , or 9.1 % . net interest income increased in 2019 , compared to 2018 , primarily due to increases in average loan yields and volume , partially offset by increased average rates on interest-bearing deposits and higher average federal home loan bank advances . loan growth during 2019 was funded through increased interest-bearing deposits , noninterest-bearing deposits and federal home loan bank advances . during 2019 , the costs of interest-bearing deposits trended upward due to competitive stress on rates but remain a low-cost source of funds , as compared to other sources of funds such as debt . ​ ​ 52 table the following table presents for the periods indicated , average outstanding balances for each major category of interest-earning assets and interest-bearing liabilities , the interest income or interest expense and the average yield or rate for the periods indicated . replace_table_token_14_th ( 1 ) includes average outstanding balances of loans held for sale . ( 2 ) net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities . ( 3 ) net interest margin is equal to net interest income divided by average interest-earning assets . ( 4 ) tax equivalent adjustments of $ 1.0 million and $ 1.1 million for the years ended december 31 , 2019 and 2018 , respectively , were computed using a federal income tax rate of 21 % . story_separator_special_tag premises and equipment , net premises and equipment , net increased $ 10.3 million during the year ended december 31 , 2020 , primarily due to the purchase of the land and building of a branch that was previously leased for $ 10.7 million . 63 table ​ derivative financial instruments the company has outstanding interest rate swap contracts with certain customers and equal and offsetting interest rate swaps with other financial institutions entered into at the same time . these interest rate swap contracts are not designated as hedging instruments for mitigating interest rate risk . the objective of the transactions is to allow customers to effectively convert a variable rate loan to a fixed rate . at december 31 , 2020 and 2019 , the company had 23 and 19 interest rate swap agreements outstanding with borrowers and financial institutions , respectively . these derivative instruments are not designated as accounting hedges and changes in the net fair value are recognized in other noninterest income . fair value amounts are included in other assets and other liabilities . the company entered into a credit risk participation agreement with another financial institution during the year ended december 31 , 2020. this agreement is associated with an interest rate swap related to a loan for which the company is the lead agent bank and provides credit protection to the company should the borrower fail to perform under the terms of the interest rate swap agreement . the fair value of the agreement is determined based on the market value of the underlying interest rate swap adjusted for credit spreads and recovery rates . derivative instruments outstanding as of the dates shown below were as follows : replace_table_token_33_th deferred tax assets , net deferred income taxes are provided for differences in financial statement carrying amounts of assets and liabilities and their respective tax basis . the increase in deferred taxes , net during the year ended december 31 , 2020 primarily related to timing differences for the acl . please see “ part ii—item 8.—financial statements and supplementary data—note 20 . ” ​ other assets other assets increased $ 12.3 million during the year ended december 31 , 2020 , primarily due to an increase in the fair value of interest rate swaps of $ 6.0 million as noted in the table above and a $ 4.6 million increase in interest receivable on loans , primarily due to interest that was deferred as part of the company 's assistance to borrowers impacted by the covid-19 pandemic . other liabilities other liabilities increased $ 9.8 million during the year ended december 31 , 2020 , primarily due to an increase in the fair value of interest rate swaps of $ 6.0 million as noted in the table above and a $ 3.8 million increase in the acl for unfunded commitments . the company 's unfunded commitments are standby letters of credit and commitments to extend credit that are not unconditionally cancellable by the company . see “ part ii—item 7.—management 's discussion and analysis— 64 table liquidity and capital resources—off-balance sheet arrangements . ” the liability associated with the acl for unfunded commitments was $ 4.2 million at december 31 , 2020 , compared to $ 378,000 at december 31 , 2019. the adoption of cecl increased the acl for unfunded commitments by $ 2.9 million . story_separator_special_tag style= `` font-family : 'times new roman ' , 'times ' , 'serif ' ; font-size:10pt ; font-style : normal ; font-weight : normal ; line-height:1.19 ; text-align : left ; `` > table commitments associated with outstanding standby letters of credit and commitments to extend credit expiring by period as of the dates indicated below were as follows : replace_table_token_37_th ​ standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third-party . in the event of nonperformance by the customer , the company would be required to fund the commitment to the third-party , but the company has rights to the collateral underlying the commitment , which can include commercial real estate , physical plant and property , inventory , receivables , cash and or marketable securities . the company 's credit risk associated with issuing letters of credit is essentially the same as the risk involved in extending loan facilities to its customers . commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract . commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee . since many of the commitments may expire without being fully drawn upon , the total commitment amounts disclosed above do not necessarily represent future cash requirements . capital resources total shareholders ' equity increased to $ 546.5 million as of december 31 , 2020 , compared to $ 535.7 million as of december 31 , 2019. the increase of $ 10.7 million was primarily due to current year income of $ 26.4 million , a $ 4.4 million increase in other comprehensive income and $ 1.9 million of stock compensation expense , partially offset by $ 8.9 million paid to repurchase shares of common stock , $ 3.0 million due to the implementation of cecl and $ 9.9 million of dividends to common shareholders declared during 2020 . ​ during the year ended december 31 , 2020 , the company repurchased 431,814 shares under its share repurchase programs at an average price of $ 20.62 per share and during the year ended december 31 , 2019 , the company repurchased 100 shares at an average price of $ 27.98 per share . shares repurchased during 2020 and 2019 were retired and returned to the status of authorized but unissued . ​ as a general matter , fdic insured depository institutions and their holding companies are required to maintain minimum capital relative to the amount and types

liquidity and capital resources liquidity liquidity measures the ability to meet current and future cash flow needs as they become due . liquidity involves having funds for operations on an ongoing basis , maintaining reserve requirements , supporting asset growth and acquisitions or reducing assets to meet deposit withdrawals and other payment obligations and manage unexpected events . the company 's primary source of funds has been customer deposits and the primary use of funds has been funding of loans . historically , the cost of the company 's deposits has been lower than other sources of funds available . as of december 31 , 2020 , the company had no exposure to future cash requirements associated with known uncertainties or capital expenditure of a material nature . the company monitors its liquidity and may seek to obtain additional financing to further support its business if necessary . the composition of funding sources and uses as a percentage of average total assets for the periods indicated was as follows : replace_table_token_34_th ​ cash and cash equivalents as of december 31 , 2020 , cash and cash equivalents was $ 538.0 million , compared to $ 372.1 million at december 31 , 2019. the net increase of $ 165.9 million was primarily due to net deposit inflows of $ 449.4 million , partially offset by outflows to fund the $ 285.0 million increase in loans excluding loans held for sale .


 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 liquidity measures the ability to meet current and future cash flow needs as they become due . liquidity involves having funds for operations on an ongoing basis , maintaining reserve requirements , supporting asset growth and acquisitions or reducing assets to meet deposit withdrawals and other payment obligations and manage unexpected events . the company 's primary source of funds has been customer deposits and the primary use of funds has been funding of loans . historically , the cost of the company 's deposits has been lower than other sources of funds available . as of december 31 , 2020 , the company had no exposure to future cash requirements associated with known uncertainties or capital expenditure of a material nature . the company monitors its liquidity and may seek to obtain additional financing to further support its business if necessary . the composition of funding sources and uses as a percentage of average total assets for the periods indicated was as follows : replace_table_token_34_th ​ cash and cash equivalents as of december 31 , 2020 , cash and cash equivalents was $ 538.0 million , compared to $ 372.1 million at december 31 , 2019. the net increase of $ 165.9 million was primarily due to net deposit inflows of $ 449.4 million , partially offset by outflows to fund the $ 285.0 million increase in loans excluding loans held for sale .
```    
 Suspicious Activity Report : replace_table_token_9_th ​ provision for credit losses the provision for credit losses is an income adjustment used to maintain the acl at a level deemed appropriate by management to absorb inherent losses on existing loans . the provision for credit losses was $ 18.9 million for the year ended december 31 , 2020 , an increase of $ 16.5 million compared to the year ended december 31 , 2019 , primarily due to the impact of the covid-19 pandemic , the sustained instability of the oil and gas industry , an increase in adversely graded loans and an increase in charge-offs . noninterest income the following table presents components of noninterest income for the years ended december 31 , 2020 and 2019 and the period-over-period changes in the categories of noninterest income : replace_table_token_10_th ​ noninterest income was $ 14.8 million for the year ended december 31 , 2020 and $ 18.6 million for the year ended december 31 , 2019. the decrease in noninterest income during the year ended december 31 , 2020 , compared to the year ended december 31 , 2019 , was primarily due to earnings on bank-owned life insurance . during the year ended december 31 , 2020 , the company received nontaxable death proceeds of $ 2.0 million under the bank-owned life insurance policies and recorded a gain of $ 769,000 over the carrying value recorded . during the year ended december 31 , 2019 , the company received nontaxable death benefit proceeds of $ 4.7 million under bank-owned life insurance policies and a gain of $ 3.3 million over the carrying value recorded . in addition , deposit account service charges decreased due to a reduction in the amount of insufficient funds and overdraft fees charged on deposit accounts and lower transactional volumes . 50 table noninterest expense generally , noninterest expense is composed of employee expenses and costs associated with operating facilities , obtaining and retaining customer relationships and providing bank services . see further analysis of these changes in the related discussions that follow . replace_table_token_11_th ​ noninterest expense was $ 92.1 million for the year ended december 31 , 2020 and $ 90.1 million for the year ended december 31 , 2019. the increase in noninterest expense of $ 2.0 million between the year ended december 31 , 2020 and 2019 was primarily due to a $ 1.3 million increase in professional and director fees , a $ 934,000 increase in data processing and software costs , a $ 660,000 increase in regulatory fees , partially offset by an $ 807,000 decrease in salaries and employee benefits . the increase in professional and director fees during the year ended december 31 , 2020 was primarily due to $ 3.9 million in consulting related fees associated with bsa/aml compliance matters , compared to $ 18,000 during the year ended december 31 , 2019 , partially offset by lower legal fees of $ 721,000 during the year ended december 31 , 2020 , compared to $ 3.7 million during the year ended december 31 , 2019. income tax expense income tax expense was $ 6.0 million and $ 11.6 million for the years ended december 31 , 2020 and 2019 , respectively . the amount of income tax expense for each year was impacted by the amounts of pre-tax income , tax-exempt income and other nondeductible expenses . income tax expense and effective tax rates for the periods shown below were as follows : replace_table_token_12_th ​ the differences between the federal statutory rate of 21 % and the effective tax rates presented in the table above were primarily related to tax-exempt interest and bank-owned life insurance . the decrease in the effective rate for the year ended december 31 , 2020 was primarily due to tax-exempt gains related to the bank-owned life insurance . ​ 51 table year ended december 31 , 2019 vs year ended december 31 , 2018 net income for the year ended december 31 , 2019 increased 6.8 % , compared to the year ended december 31 , 2018. this increase was primarily due to increased net interest income and noninterest income , partially offset by a higher provision for credit losses and higher noninterest expense . see further analysis of these changes in the related discussions that follow . replace_table_token_13_th ​ net interest income net interest income for the year ended december 31 , 2019 was $ 136.0 million , compared to $ 124.7 million for the year ended december 31 , 2018 , an increase of $ 11.3 million , or 9.1 % . net interest income increased in 2019 , compared to 2018 , primarily due to increases in average loan yields and volume , partially offset by increased average rates on interest-bearing deposits and higher average federal home loan bank advances . loan growth during 2019 was funded through increased interest-bearing deposits , noninterest-bearing deposits and federal home loan bank advances . during 2019 , the costs of interest-bearing deposits trended upward due to competitive stress on rates but remain a low-cost source of funds , as compared to other sources of funds such as debt . ​ ​ 52 table the following table presents for the periods indicated , average outstanding balances for each major category of interest-earning assets and interest-bearing liabilities , the interest income or interest expense and the average yield or rate for the periods indicated . replace_table_token_14_th ( 1 ) includes average outstanding balances of loans held for sale . ( 2 ) net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities . ( 3 ) net interest margin is equal to net interest income divided by average interest-earning assets . ( 4 ) tax equivalent adjustments of $ 1.0 million and $ 1.1 million for the years ended december 31 , 2019 and 2018 , respectively , were computed using a federal income tax rate of 21 % . story_separator_special_tag premises and equipment , net premises and equipment , net increased $ 10.3 million during the year ended december 31 , 2020 , primarily due to the purchase of the land and building of a branch that was previously leased for $ 10.7 million . 63 table ​ derivative financial instruments the company has outstanding interest rate swap contracts with certain customers and equal and offsetting interest rate swaps with other financial institutions entered into at the same time . these interest rate swap contracts are not designated as hedging instruments for mitigating interest rate risk . the objective of the transactions is to allow customers to effectively convert a variable rate loan to a fixed rate . at december 31 , 2020 and 2019 , the company had 23 and 19 interest rate swap agreements outstanding with borrowers and financial institutions , respectively . these derivative instruments are not designated as accounting hedges and changes in the net fair value are recognized in other noninterest income . fair value amounts are included in other assets and other liabilities . the company entered into a credit risk participation agreement with another financial institution during the year ended december 31 , 2020. this agreement is associated with an interest rate swap related to a loan for which the company is the lead agent bank and provides credit protection to the company should the borrower fail to perform under the terms of the interest rate swap agreement . the fair value of the agreement is determined based on the market value of the underlying interest rate swap adjusted for credit spreads and recovery rates . derivative instruments outstanding as of the dates shown below were as follows : replace_table_token_33_th deferred tax assets , net deferred income taxes are provided for differences in financial statement carrying amounts of assets and liabilities and their respective tax basis . the increase in deferred taxes , net during the year ended december 31 , 2020 primarily related to timing differences for the acl . please see “ part ii—item 8.—financial statements and supplementary data—note 20 . ” ​ other assets other assets increased $ 12.3 million during the year ended december 31 , 2020 , primarily due to an increase in the fair value of interest rate swaps of $ 6.0 million as noted in the table above and a $ 4.6 million increase in interest receivable on loans , primarily due to interest that was deferred as part of the company 's assistance to borrowers impacted by the covid-19 pandemic . other liabilities other liabilities increased $ 9.8 million during the year ended december 31 , 2020 , primarily due to an increase in the fair value of interest rate swaps of $ 6.0 million as noted in the table above and a $ 3.8 million increase in the acl for unfunded commitments . the company 's unfunded commitments are standby letters of credit and commitments to extend credit that are not unconditionally cancellable by the company . see “ part ii—item 7.—management 's discussion and analysis— 64 table liquidity and capital resources—off-balance sheet arrangements . ” the liability associated with the acl for unfunded commitments was $ 4.2 million at december 31 , 2020 , compared to $ 378,000 at december 31 , 2019. the adoption of cecl increased the acl for unfunded commitments by $ 2.9 million . story_separator_special_tag style= `` font-family : 'times new roman ' , 'times ' , 'serif ' ; font-size:10pt ; font-style : normal ; font-weight : normal ; line-height:1.19 ; text-align : left ; `` > table commitments associated with outstanding standby letters of credit and commitments to extend credit expiring by period as of the dates indicated below were as follows : replace_table_token_37_th ​ standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third-party . in the event of nonperformance by the customer , the company would be required to fund the commitment to the third-party , but the company has rights to the collateral underlying the commitment , which can include commercial real estate , physical plant and property , inventory , receivables , cash and or marketable securities . the company 's credit risk associated with issuing letters of credit is essentially the same as the risk involved in extending loan facilities to its customers . commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract . commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee . since many of the commitments may expire without being fully drawn upon , the total commitment amounts disclosed above do not necessarily represent future cash requirements . capital resources total shareholders ' equity increased to $ 546.5 million as of december 31 , 2020 , compared to $ 535.7 million as of december 31 , 2019. the increase of $ 10.7 million was primarily due to current year income of $ 26.4 million , a $ 4.4 million increase in other comprehensive income and $ 1.9 million of stock compensation expense , partially offset by $ 8.9 million paid to repurchase shares of common stock , $ 3.0 million due to the implementation of cecl and $ 9.9 million of dividends to common shareholders declared during 2020 . ​ during the year ended december 31 , 2020 , the company repurchased 431,814 shares under its share repurchase programs at an average price of $ 20.62 per share and during the year ended december 31 , 2019 , the company repurchased 100 shares at an average price of $ 27.98 per share . shares repurchased during 2020 and 2019 were retired and returned to the status of authorized but unissued . ​ as a general matter , fdic insured depository institutions and their holding companies are required to maintain minimum capital relative to the amount and types

