the notes will mature on june 15 , 2027. the company used part of the net proceeds from the offering to redeem its $ 70.7 million of trust preferred securities , which had a 7.00 % annual coupon , in july 2017. see notes 16 and 17 to the company 's condensed consolidated financial statements included elsewhere in this annual report on form 10-k for details of the subordinated notes payable and trust preferred securities payable , respectively . in december 2017 , the bank completed a securitization of $ 280.0 million of its multifamily loans through a freddie mac sponsored “ q-deal ” securitization ( “ loan securitization ” ) . the structured pass-through certificates that were issued by freddie mac were purchased by the bank as available-for-sale securities to enhance balance sheet liquidity . the bank will continue to maintain the borrower relationships as the sub-servicer of the loans . see note 9 to the company 's condensed consolidated financial statements for details of the transaction . in january 2019 , the bank filed an application with the nysdfs seeking approval to convert from a new york stock savings bank to a new york commercial bank ( the “ charter conversion ” ) . simultaneously with the charter conversion application to nysdfs , the holding company filed an application with the frb to delist as a savings and loan holding company and elect to become a bank holding company . by letter from the federal reserve bank of philadelphia , dated march 7 , 2019 , the company was informed that the holding company 's application to convert from a savings and loan holding company to a bank holding company was approved , subject to receipt of all required regulatory approvals . the bank has not yet received all required regulatory approvals ; therefore , the charter conversion and conversion to a bank holding company are not yet effective . 32 critical accounting policies the company 's accounting and reporting policies are prepared in accordance with gaap and conform to general practices within the banking industry . see note 2 to the company 's consolidated financial statements for the year ended december 31 , 2018 , which contains the company 's significant accounting policies . the company 's policies with respect to ( 1 ) the methodologies it uses to determine the allowance for loan losses ( including reserves for loan commitments ) , and ( 2 ) accounting for defined benefit plans are its most critical accounting policies because they are important to the presentation of the company 's consolidated financial condition and results of operations , involve a significant degree of complexity and require management to make difficult and subjective judgments which often necessitate assumptions or estimates about highly uncertain matters . the use of different judgments , assumptions or estimates could result in material variations in the company 's consolidated results of operations or financial condition . the following are descriptions of the company 's critical accounting policies and explanations of the methods and assumptions underlying their application . allowance for loan losses the allowance for loan losses is provided to reflect probable incurred losses inherent in the loan portfolio . management reviews the adequacy of the allowance for loan losses by reviewing all impaired loans on an individual basis . the remaining portfolio is segmented and evaluated on a pooled basis . factors considered in determining the appropriateness of the allowance for loan losses include the bank 's past loan loss experience , known and inherent risks in the portfolio , existing adverse situations which may affect a borrower 's ability to repay , the estimated value of underlying collateral and current economic conditions in the bank 's lending area . judgment is required to determine the appropriate historical loss experience period , as well as the manner in which to quantify probable losses associated with the additional factors noted above . this evaluation is inherently subjective , as estimates are susceptible to significant revisions as more information becomes available . although management uses available information to estimate losses on loans , future additions to , or reductions in , the allowance may be necessary based on changes in economic conditions or other factors beyond management 's control . in addition , the bank 's regulators , as an integral part of their examination processes , periodically review the bank 's allowance for loan losses , and may require the bank to recognize additions to , or reductions in , the allowance based upon judgments different from those of management . the bank 's methods and assumptions utilized to periodically determine its allowance for loan losses are summarized in note 8 to the company 's consolidated financial statements . 33 analysis of net interest income the company 's profitability , like that of most banking institutions , is dependent primarily upon net interest income . net interest income depends on the relative amounts of interest-earning assets and interest-bearing liabilities , and the interest rate earned or paid on them . the following tables set forth certain information relating to the company 's consolidated statements of operations for the years ended december 31 , 2018 , 2017 and 2016 , and reflect the average yield on interest-earning assets and average cost of interest-bearing liabilities for the periods indicated . such yields and costs are derived by dividing interest income or expense by the average balance of interest-earning assets or interest-bearing liabilities , respectively , for the periods indicated . average balances are derived from daily balances . the yields and costs include fees and charges that are considered adjustments to yields and costs . all material changes in average balances and interest income or expense are discussed in the section entitled `` net interest income `` in the comparisons of operating results commencing on page 35 . story_separator_special_tag loan portfolio composition the bank 's loan portfolio totaled $ 5.38 billion at december 31 , 2018 , consisting primarily of real estate loans secured by multifamily residential apartment buildings , including buildings organized under a cooperative form of ownership ; commercial properties ; and one-to-four family residential and individual condominium or cooperative apartments . the following table sets forth the composition of the bank 's real estate and other loan portfolios ( including loans held for sale ) in dollar amounts and percentages at the dates indicated : replace_table_token_8_th 38 the following table sets forth the composition of the bank 's loan portfolios ( including loans held for sale and consumer loans ) by arm or fixed-rate repayment type : replace_table_token_9_th at december 31 , 2018 , the bank had $ 150.1 million of loan commitments that were accepted by the borrowers . all of these commitments are expected to close during the year ending december 31 , 2019 . at december 31 , 2018 , the bank 's portfolio of whole loans or loan participations that it originated and sold to other financial institutions with servicing retained totaled $ 313.6 million , all of which were sold without recourse . loan originations , purchases , sales and servicing for the year ended december 31 , 2018 , total loan originations were $ 579.7 million . the following table sets forth the bank 's loan originations ( including loans held for sale ) , sales , purchases and principal repayments for the periods indicated : replace_table_token_10_th ( 1 ) includes one-to-four family home equity and home improvement loans . ( 2 ) includes $ 1.5 million , $ 4.5 million , $ 9.6 million and $ 3.9 million of note sales on problem loans from portfolio during the years ended december 31 , 2018 , 2017 , 2015 and 2014 , respectively . 39 in the event that the bank were to sell loans in the secondary market or through securitization , it generally retains servicing rights on the loans sold . these fees are typically derived based upon the difference between the actual origination rate and contractual pass-through rate of the loans at the time of sale . at december 31 , 2018 , the bank had recorded servicing right assets ( `` sras `` ) of $ 1.3 million associated with the sale of loans to third party institutions in which the bank retained the servicing of the loan . the bank outsources the servicing of a portion of our one-to-four family mortgage loan portfolio to an unrelated third party under a sub-servicing agreement . fees paid under the sub-servicing agreement are reported as a component of occupancy , equipment and systems expense in the consolidated statements of income . at december 31 , 2018 , the bank had $ 38.9 million in unfunded construction loan commitments . loan maturity and repricing as of december 31 , 2018 , $ 4.77 billion , or 88.5 % of the loan portfolio was scheduled to mature or reprice within five years . in addition at december 31 , 2018 , loans totaling $ 600.1 million were required to make only monthly interest payments on their outstanding principal balance . the great majority of these loans commence principal amortization prior to their contractual maturity date . the following table distributes the bank 's real estate , c & i , and consumer loan portfolios at december 31 , 2018 by the earlier of the maturity or next repricing date . arms are included in the period during which their interest rates are next scheduled to adjust . the table does not include scheduled principal amortization . replace_table_token_11_th asset quality non-accrual loans within the bank 's loan portfolio ( excluding deposit overdraft loans ) , sixteen non-accrual loans totaled $ 2.3 million at december 31 , 2018 and eight non-accrual loans totaled $ 0.5 million december 31 , 2017 . during the year ended december 31 , 2018 , eighteen loans totaling $ 6.0 million were placed on non-accrual status , five non-accrual loans totaling $ 1.3 million were fully satisfied according to their contractual terms , three non-accrual loan totaling $ 1.3 million were fully charged-off , two non-accrual loans totaling $ 1.5 million were sold and principal amortization of $ 0.07 million was recognized on five non-accrual loans . the remaining two non-accrual loans had no activity . tdrs at both december 31 , 2018 and 2017 , all tdrs were collateralized by real estate that generated rental income . for tdrs that demonstrated conditions sufficient to warrant accrual status , the present value of the expected net cash flows of the underlying property was utilized as the primary means of determining impairment . any shortfall in the present value of the expected net cash flows calculated at each measurement period ( typically quarter-end ) compared to the present value of the expected net cash flows at the time of the original loan agreement was recognized as either an allocated reserve ( in the event that it related to lower expected interest payments ) or a charge-off ( if related to lower expected principal payments ) . for tdrs on non-accrual status , an appraisal of the underlying real estate collateral is deemed the most appropriate measure to utilize when evaluating impairment and any shortfall in valuation from the recorded balance is accounted for through a charge-off . in the event that either an allocated reserve or a charge-off is recognized on tdrs , the periodic loan loss provision is impacted . there were no tdrs on non-accrual status at december 31 , 2018 or 2017 . 40 there were no loans modified in a manner that met the criteria of a tdr during the twelve-month period ended december 31 , 2018 or 2017 . impaired loans the recorded investment in loans deemed impaired ( as defined in note 8 to the company 's consolidated financial statements ) was

liquidity and capital resources the board of directors of the bank has approved a liquidity policy that it reviews and updates at least annually . senior management is responsible for implementing the policy . the bank 's alco is responsible for general oversight and strategic implementation of the policy and management of the appropriate departments are designated responsibility for implementing any strategies established by alco . on a daily basis , appropriate senior management receives a current cash position report and one-week forecast to ensure that all short-term obligations are timely satisfied and that adequate liquidity exists to fund future activities . reports detailing the bank 's liquidity reserves and forecasted cash flows are presented to appropriate senior management on a monthly basis , and the board of directors at each of its meetings . in addition on a monthly basis , a twelve-month liquidity forecast is presented to alco in order to assess potential future liquidity concerns . a forecast of cash flow data for the upcoming 12 months is presented to the board of directors on an annual basis . the bank 's primary sources of funding for its lending and investment activities include deposits , loan and mbs payments , investment security principal and interest payments and advances from the fhlbny . the bank may also sell or securitize selected multifamily residential , mixed-use or one-to-four family residential real estate loans to private sector secondary market purchasers , and has in the past sold such loans to fnma and fhlmc . the company may additionally issue debt under appropriate circumstances . although maturities and scheduled amortization of loans and investments are predictable sources of funds , deposit flows and prepayments on real estate loans and mbs are influenced by interest rates , economic conditions and competition . 46 in december 2018 , the bank became a member of the american financial exchange , through which it may either borrow or lend funds on an overnight or short-term basis with other member institutions . the availability of funds changes daily .


 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 the board of directors of the bank has approved a liquidity policy that it reviews and updates at least annually . senior management is responsible for implementing the policy . the bank 's alco is responsible for general oversight and strategic implementation of the policy and management of the appropriate departments are designated responsibility for implementing any strategies established by alco . on a daily basis , appropriate senior management receives a current cash position report and one-week forecast to ensure that all short-term obligations are timely satisfied and that adequate liquidity exists to fund future activities . reports detailing the bank 's liquidity reserves and forecasted cash flows are presented to appropriate senior management on a monthly basis , and the board of directors at each of its meetings . in addition on a monthly basis , a twelve-month liquidity forecast is presented to alco in order to assess potential future liquidity concerns . a forecast of cash flow data for the upcoming 12 months is presented to the board of directors on an annual basis . the bank 's primary sources of funding for its lending and investment activities include deposits , loan and mbs payments , investment security principal and interest payments and advances from the fhlbny . the bank may also sell or securitize selected multifamily residential , mixed-use or one-to-four family residential real estate loans to private sector secondary market purchasers , and has in the past sold such loans to fnma and fhlmc . the company may additionally issue debt under appropriate circumstances . although maturities and scheduled amortization of loans and investments are predictable sources of funds , deposit flows and prepayments on real estate loans and mbs are influenced by interest rates , economic conditions and competition . 46 in december 2018 , the bank became a member of the american financial exchange , through which it may either borrow or lend funds on an overnight or short-term basis with other member institutions . the availability of funds changes daily .
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 Suspicious Activity Report : the notes will mature on june 15 , 2027. the company used part of the net proceeds from the offering to redeem its $ 70.7 million of trust preferred securities , which had a 7.00 % annual coupon , in july 2017. see notes 16 and 17 to the company 's condensed consolidated financial statements included elsewhere in this annual report on form 10-k for details of the subordinated notes payable and trust preferred securities payable , respectively . in december 2017 , the bank completed a securitization of $ 280.0 million of its multifamily loans through a freddie mac sponsored “ q-deal ” securitization ( “ loan securitization ” ) . the structured pass-through certificates that were issued by freddie mac were purchased by the bank as available-for-sale securities to enhance balance sheet liquidity . the bank will continue to maintain the borrower relationships as the sub-servicer of the loans . see note 9 to the company 's condensed consolidated financial statements for details of the transaction . in january 2019 , the bank filed an application with the nysdfs seeking approval to convert from a new york stock savings bank to a new york commercial bank ( the “ charter conversion ” ) . simultaneously with the charter conversion application to nysdfs , the holding company filed an application with the frb to delist as a savings and loan holding company and elect to become a bank holding company . by letter from the federal reserve bank of philadelphia , dated march 7 , 2019 , the company was informed that the holding company 's application to convert from a savings and loan holding company to a bank holding company was approved , subject to receipt of all required regulatory approvals . the bank has not yet received all required regulatory approvals ; therefore , the charter conversion and conversion to a bank holding company are not yet effective . 32 critical accounting policies the company 's accounting and reporting policies are prepared in accordance with gaap and conform to general practices within the banking industry . see note 2 to the company 's consolidated financial statements for the year ended december 31 , 2018 , which contains the company 's significant accounting policies . the company 's policies with respect to ( 1 ) the methodologies it uses to determine the allowance for loan losses ( including reserves for loan commitments ) , and ( 2 ) accounting for defined benefit plans are its most critical accounting policies because they are important to the presentation of the company 's consolidated financial condition and results of operations , involve a significant degree of complexity and require management to make difficult and subjective judgments which often necessitate assumptions or estimates about highly uncertain matters . the use of different judgments , assumptions or estimates could result in material variations in the company 's consolidated results of operations or financial condition . the following are descriptions of the company 's critical accounting policies and explanations of the methods and assumptions underlying their application . allowance for loan losses the allowance for loan losses is provided to reflect probable incurred losses inherent in the loan portfolio . management reviews the adequacy of the allowance for loan losses by reviewing all impaired loans on an individual basis . the remaining portfolio is segmented and evaluated on a pooled basis . factors considered in determining the appropriateness of the allowance for loan losses include the bank 's past loan loss experience , known and inherent risks in the portfolio , existing adverse situations which may affect a borrower 's ability to repay , the estimated value of underlying collateral and current economic conditions in the bank 's lending area . judgment is required to determine the appropriate historical loss experience period , as well as the manner in which to quantify probable losses associated with the additional factors noted above . this evaluation is inherently subjective , as estimates are susceptible to significant revisions as more information becomes available . although management uses available information to estimate losses on loans , future additions to , or reductions in , the allowance may be necessary based on changes in economic conditions or other factors beyond management 's control . in addition , the bank 's regulators , as an integral part of their examination processes , periodically review the bank 's allowance for loan losses , and may require the bank to recognize additions to , or reductions in , the allowance based upon judgments different from those of management . the bank 's methods and assumptions utilized to periodically determine its allowance for loan losses are summarized in note 8 to the company 's consolidated financial statements . 33 analysis of net interest income the company 's profitability , like that of most banking institutions , is dependent primarily upon net interest income . net interest income depends on the relative amounts of interest-earning assets and interest-bearing liabilities , and the interest rate earned or paid on them . the following tables set forth certain information relating to the company 's consolidated statements of operations for the years ended december 31 , 2018 , 2017 and 2016 , and reflect the average yield on interest-earning assets and average cost of interest-bearing liabilities for the periods indicated . such yields and costs are derived by dividing interest income or expense by the average balance of interest-earning assets or interest-bearing liabilities , respectively , for the periods indicated . average balances are derived from daily balances . the yields and costs include fees and charges that are considered adjustments to yields and costs . all material changes in average balances and interest income or expense are discussed in the section entitled `` net interest income `` in the comparisons of operating results commencing on page 35 . story_separator_special_tag loan portfolio composition the bank 's loan portfolio totaled $ 5.38 billion at december 31 , 2018 , consisting primarily of real estate loans secured by multifamily residential apartment buildings , including buildings organized under a cooperative form of ownership ; commercial properties ; and one-to-four family residential and individual condominium or cooperative apartments . the following table sets forth the composition of the bank 's real estate and other loan portfolios ( including loans held for sale ) in dollar amounts and percentages at the dates indicated : replace_table_token_8_th 38 the following table sets forth the composition of the bank 's loan portfolios ( including loans held for sale and consumer loans ) by arm or fixed-rate repayment type : replace_table_token_9_th at december 31 , 2018 , the bank had $ 150.1 million of loan commitments that were accepted by the borrowers . all of these commitments are expected to close during the year ending december 31 , 2019 . at december 31 , 2018 , the bank 's portfolio of whole loans or loan participations that it originated and sold to other financial institutions with servicing retained totaled $ 313.6 million , all of which were sold without recourse . loan originations , purchases , sales and servicing for the year ended december 31 , 2018 , total loan originations were $ 579.7 million . the following table sets forth the bank 's loan originations ( including loans held for sale ) , sales , purchases and principal repayments for the periods indicated : replace_table_token_10_th ( 1 ) includes one-to-four family home equity and home improvement loans . ( 2 ) includes $ 1.5 million , $ 4.5 million , $ 9.6 million and $ 3.9 million of note sales on problem loans from portfolio during the years ended december 31 , 2018 , 2017 , 2015 and 2014 , respectively . 39 in the event that the bank were to sell loans in the secondary market or through securitization , it generally retains servicing rights on the loans sold . these fees are typically derived based upon the difference between the actual origination rate and contractual pass-through rate of the loans at the time of sale . at december 31 , 2018 , the bank had recorded servicing right assets ( `` sras `` ) of $ 1.3 million associated with the sale of loans to third party institutions in which the bank retained the servicing of the loan . the bank outsources the servicing of a portion of our one-to-four family mortgage loan portfolio to an unrelated third party under a sub-servicing agreement . fees paid under the sub-servicing agreement are reported as a component of occupancy , equipment and systems expense in the consolidated statements of income . at december 31 , 2018 , the bank had $ 38.9 million in unfunded construction loan commitments . loan maturity and repricing as of december 31 , 2018 , $ 4.77 billion , or 88.5 % of the loan portfolio was scheduled to mature or reprice within five years . in addition at december 31 , 2018 , loans totaling $ 600.1 million were required to make only monthly interest payments on their outstanding principal balance . the great majority of these loans commence principal amortization prior to their contractual maturity date . the following table distributes the bank 's real estate , c & i , and consumer loan portfolios at december 31 , 2018 by the earlier of the maturity or next repricing date . arms are included in the period during which their interest rates are next scheduled to adjust . the table does not include scheduled principal amortization . replace_table_token_11_th asset quality non-accrual loans within the bank 's loan portfolio ( excluding deposit overdraft loans ) , sixteen non-accrual loans totaled $ 2.3 million at december 31 , 2018 and eight non-accrual loans totaled $ 0.5 million december 31 , 2017 . during the year ended december 31 , 2018 , eighteen loans totaling $ 6.0 million were placed on non-accrual status , five non-accrual loans totaling $ 1.3 million were fully satisfied according to their contractual terms , three non-accrual loan totaling $ 1.3 million were fully charged-off , two non-accrual loans totaling $ 1.5 million were sold and principal amortization of $ 0.07 million was recognized on five non-accrual loans . the remaining two non-accrual loans had no activity . tdrs at both december 31 , 2018 and 2017 , all tdrs were collateralized by real estate that generated rental income . for tdrs that demonstrated conditions sufficient to warrant accrual status , the present value of the expected net cash flows of the underlying property was utilized as the primary means of determining impairment . any shortfall in the present value of the expected net cash flows calculated at each measurement period ( typically quarter-end ) compared to the present value of the expected net cash flows at the time of the original loan agreement was recognized as either an allocated reserve ( in the event that it related to lower expected interest payments ) or a charge-off ( if related to lower expected principal payments ) . for tdrs on non-accrual status , an appraisal of the underlying real estate collateral is deemed the most appropriate measure to utilize when evaluating impairment and any shortfall in valuation from the recorded balance is accounted for through a charge-off . in the event that either an allocated reserve or a charge-off is recognized on tdrs , the periodic loan loss provision is impacted . there were no tdrs on non-accrual status at december 31 , 2018 or 2017 . 40 there were no loans modified in a manner that met the criteria of a tdr during the twelve-month period ended december 31 , 2018 or 2017 . impaired loans the recorded investment in loans deemed impaired ( as defined in note 8 to the company 's consolidated financial statements ) was

