there were no changes in our policies or methodology pertaining to the general component of the allowance for loan losses during 2019. to determine the general component of the allowance for loan losses , the company 's loan portfolio is segregated into various risk categories . these risk categories and the relevant risk characteristics are as follows : residential real estate : we generally do not originate loans with a loan-to-value ratio greater than 80 % and do not originate subprime loans . loans with loan to value ratios greater than 80 % require the purchase of private mortgage insurance . all loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower . the overall health of the economy , including unemployment rates and housing prices , will have an effect on the credit quality in this segment . commercial real estate : loans in this segment are primarily income-producing properties throughout massachusetts and new hampshire . the underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates , which in turn , will have an effect on the credit quality in this segment . management periodically obtains rent rolls and continually monitors the cash flows of the assets securing these loans . construction and land development : loans in this segment primarily include speculative and pre-sold real estate development loans for which payment is derived from sale of the property and construction to permanent loans for which payment is derived from cash flows of the property . credit risk is affected by cost overruns , time to sell at an adequate price , and market conditions . commercial : loans in this segment are made to businesses and are generally secured by assets of the business . repayment is expected from the cash flows of the business . a weakened economy , and resultant decreased consumer spending , will have an effect on the credit quality in this segment . consumer : loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower . the allocated component relates to loans that are classified as impaired . impairment is measured on a loan by loan basis for commercial , commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan 's effective interest rate or the fair value of the collateral , less estimated selling costs , if the loan is collateral dependent . an allowance is established when the discounted cash flows ( or collateral value ) of the impaired loan is lower than the carrying value of that loan . we periodically may agree to modify the contractual terms of loans . when a loan is modified and a concession is made to a borrower experiencing financial difficulty , the modification is considered a troubled debt restructuring . all troubled debt restructurings are initially classified as impaired . 33 an unallocated component may be maintained to cover uncertainties that could affect management 's estimate of probable losses . the unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio . stock-based compensation plans . the company measures and recognizes compensation cost relating to stock-based payment transactions based on the grant-date fair value of the equity instruments issued . stock-based compensation is recognized over the period the employee is required to provide services for the award . the company uses the black-scholes option-pricing model to determine the fair value of stock options granted . the fair value of restricted stock is recorded based on the grant date fair value of the equity instrument issued . income taxes . we recognize income taxes under the asset and liability method . under this method , deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of our assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled . the company reduces the deferred tax asset by a valuation allowance if , based on the weight of the available evidence , it is not “ more likely than not ” that some portion or all of the deferred tax assets will be realized . the company assesses the realizability of its deferred tax assets by assessing the likelihood of the company generating federal and state income tax , as applicable , in future periods in amounts sufficient to offset the deferred tax charges in the periods they are expected to reverse . based on this assessment , management concluded that a valuation allowance was not required as of december 31 , 2019 and 2018. we examine our significant income tax positions annually to determine whether a tax benefit is more likely than not to be sustained upon examination by tax authorities . comparison of financial condition at december 31 , 2019 and december 31 , 2018 assets . our total assets increased $ 147.7 million , or 15.2 % , to $ 1.1 billion at december 31 , 2019 from $ 974.1 million at december 31 , 2018. the primary reasons for the increase are increases in net loans and cash and cash equivalents , partially offset by a decrease in investments in available-for-sale securities story_separator_special_tag style= `` padding:0pt ; padding-left:0pt ; width:0pt ; `` > ​ ​ ​ ​ ​ 42.64 ​ ​ ​ ​ ​ 240,223 ​ ​ ​ ​ ​ 31.91 ​ ​ ​ ​ ​ 166,157 ​ ​ ​ ​ ​ 26.23 ​ ​ ​ ​ ​ 112,073 ​ ​ ​ ​ ​ 19.90 ​ ​ consumer ​ ​ ​ ​ 12,737 ​ ​ ​ ​ ​ 1.31 ​ ​ ​ ​ ​ 19,815 ​ story_separator_special_tag ​ ​ ​ at december 31 , ​ ​ ​ ​ 2019 ​ ​ 2018 ​ ​ 2017 ​ ​ ​ ​ allowance for loan losses ​ ​ % of loans in category to total loans ​ ​ allowance for loan losses ​ ​ % of loans in category to total loans ​ ​ allowance for loan losses ​ ​ % of loans in category to total loans ​ ​ ​ ​ ( dollars in thousands ) ​ real estate : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ ​ ​ $ 254 ​ ​ ​ ​ ​ 4.69 % ​ ​ ​ ​ $ 251 ​ ​ ​ ​ ​ 6.76 % ​ ​ ​ ​ $ 300 ​ ​ ​ ​ ​ 9.00 % ​ ​ commercial ​ ​ ​ ​ 6,104 ​ ​ ​ ​ ​ 42.89 ​ ​ ​ ​ ​ 4,152 ​ ​ ​ ​ ​ 43.00 ​ ​ ​ ​ ​ 4,483 ​ ​ ​ ​ ​ 49.35 ​ ​ construction and land development ​ ​ ​ ​ 749 ​ ​ ​ ​ ​ 4.79 ​ ​ ​ ​ ​ 738 ​ ​ ​ ​ ​ 5.26 ​ ​ ​ ​ ​ 965 ​ ​ ​ ​ ​ 7.42 ​ ​ commercial ​ ​ ​ ​ 6,086 ​ ​ ​ ​ ​ 46.32 ​ ​ ​ ​ ​ 5,742 ​ ​ ​ ​ ​ 42.64 ​ ​ ​ ​ ​ 3,280 ​ ​ ​ ​ ​ 31.91 ​ ​ consumer ​ ​ ​ ​ 650 ​ ​ ​ ​ ​ 1.31 ​ ​ ​ ​ ​ 710 ​ ​ ​ ​ ​ 2.34 ​ ​ ​ ​ ​ 649 ​ ​ ​ ​ ​ 2.32 ​ ​ total allocated allowance for loan losses ​ ​ ​ ​ 13,843 ​ ​ ​ ​ ​ 100.00 % ​ ​ ​ ​ ​ 11,593 ​ ​ ​ ​ ​ 100.00 % ​ ​ ​ ​ ​ 9,677 ​ ​ ​ ​ ​ 100.00 % ​ ​ unallocated ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 87 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 80 ​ ​ ​ ​ ​ ​ ​ ​ total ​ ​ ​ $ 13,844 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 11,680 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 9,757 ​ ​ ​ ​ ​ ​ ​ ​ ​ replace_table_token_12_th the allowance consists of general , specific , and unallocated components . the general component relates to pools of non-impaired loans and is based on historical loss experience adjusted for qualitative factors . the allocated component relates to loans that are classified as impaired , whereby an allowance is established when the discounted cash flows , collateral value , less estimated selling costs , or observable market price of the impaired loan is lower than the carrying value of that loan . an unallocated component may be maintained to cover uncertainties that could affect management 's estimate of probable losses . the unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio . we had impaired loans totaling $ 24.7 million and $ 7.5 million as of december 31 , 2019 and 2018 , respectively . impaired loans totaling $ 20.9 million and $ 1.8 million had a valuation allowance of $ 1.7 million and $ 1.1 million at december 31 , 2019 and 2018 , respectively . our average investment in impaired loans 41 was $ 26.9 million and $ 13.1 million for the years ended december 31 , 2019 and 2018 , respectively . during the fourth quarter of 2019 , a commercial real estate loan relationship with a total balance of $ 18.6 million became impaired due to insufficient cash flows to pay the debt . we expect to formally restructure this loan relationship , and based on a discounted cash flow calculation using the anticipated restructure terms , we established a specific reserve of $ 1.4 million for this relationship . a loan is considered impaired when , based on current information and events , it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement . factors considered by management in determining impairment include payment status , collateral value and the probability of collecting scheduled principal and interest payments when due . loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired . management determines the significance of payment delays and payment shortfalls on a case-by-case basis , taking into consideration all of the circumstances surrounding the loan and the borrower , including the length of the delay , the reasons for the delay , the borrower 's prior payment record , and the amount of the shortfall in relation to the principal and interest owed . impairment is measured on a loan-by-loan basis for commercial business , commercial real estate and construction and land development loans by either the present value of expected future cash flows discounted at the loan 's effective interest rate , the loan 's obtainable market price , or the fair value of the collateral if the loan is collateral dependent . large groups of smaller balance homogeneous loans are collectively evaluated for impairment based on payment status . accordingly , we do not separately identify individual one- to four-family residential and consumer loans for impairment disclosures , unless such loans are subject to a troubled debt restructuring . we periodically agree to modify the contractual terms of loans . when a loan is modified and a concession is made to a

cash and cash equivalents . cash and cash equivalents increased $ 31.0 million , or 108.5 % , to $ 59.7 million at december 31 , 2019 from $ 28.6 million at december 31 , 2018. the increase was primarily related to an increase in short-term investments of $ 30.0 million , or 169.7 % , due to the completion of our second-step conversion and related stock offering in october 2019. investments in available-for-sale securities . investments in available-for-sale securities decreased $ 9.6 million or 18.7 % to $ 41.8 million at december 31 , 2019 from $ 51.4 million at december 31 , 2018. the decrease resulted primarily from principal pay downs partially offset by an increase in the fair value of the securities . loan portfolio analysis . at december 31 , 2019 , net loans were $ 959.3 million , or 85.5 % of total assets , compared to $ 835.5 million , or 85.8 % of total assets at december 31 , 2018. increases in commercial loans of $ 90.0 million , or 24.9 % , commercial real estate loans of $ 53.5 million , or 14.7 % , and in construction and land development loans of $ 2.2 million , or 4.8 % , were partially offset by decreases in residential real estate loans of $ 11.7 million , or 20.3 % , and consumer loans of $7.1 million , or 35.7 % .


 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 and cash equivalents . cash and cash equivalents increased $ 31.0 million , or 108.5 % , to $ 59.7 million at december 31 , 2019 from $ 28.6 million at december 31 , 2018. the increase was primarily related to an increase in short-term investments of $ 30.0 million , or 169.7 % , due to the completion of our second-step conversion and related stock offering in october 2019. investments in available-for-sale securities . investments in available-for-sale securities decreased $ 9.6 million or 18.7 % to $ 41.8 million at december 31 , 2019 from $ 51.4 million at december 31 , 2018. the decrease resulted primarily from principal pay downs partially offset by an increase in the fair value of the securities . loan portfolio analysis . at december 31 , 2019 , net loans were $ 959.3 million , or 85.5 % of total assets , compared to $ 835.5 million , or 85.8 % of total assets at december 31 , 2018. increases in commercial loans of $ 90.0 million , or 24.9 % , commercial real estate loans of $ 53.5 million , or 14.7 % , and in construction and land development loans of $ 2.2 million , or 4.8 % , were partially offset by decreases in residential real estate loans of $ 11.7 million , or 20.3 % , and consumer loans of $7.1 million , or 35.7 % .
```    
 Suspicious Activity Report : there were no changes in our policies or methodology pertaining to the general component of the allowance for loan losses during 2019. to determine the general component of the allowance for loan losses , the company 's loan portfolio is segregated into various risk categories . these risk categories and the relevant risk characteristics are as follows : residential real estate : we generally do not originate loans with a loan-to-value ratio greater than 80 % and do not originate subprime loans . loans with loan to value ratios greater than 80 % require the purchase of private mortgage insurance . all loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower . the overall health of the economy , including unemployment rates and housing prices , will have an effect on the credit quality in this segment . commercial real estate : loans in this segment are primarily income-producing properties throughout massachusetts and new hampshire . the underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates , which in turn , will have an effect on the credit quality in this segment . management periodically obtains rent rolls and continually monitors the cash flows of the assets securing these loans . construction and land development : loans in this segment primarily include speculative and pre-sold real estate development loans for which payment is derived from sale of the property and construction to permanent loans for which payment is derived from cash flows of the property . credit risk is affected by cost overruns , time to sell at an adequate price , and market conditions . commercial : loans in this segment are made to businesses and are generally secured by assets of the business . repayment is expected from the cash flows of the business . a weakened economy , and resultant decreased consumer spending , will have an effect on the credit quality in this segment . consumer : loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower . the allocated component relates to loans that are classified as impaired . impairment is measured on a loan by loan basis for commercial , commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan 's effective interest rate or the fair value of the collateral , less estimated selling costs , if the loan is collateral dependent . an allowance is established when the discounted cash flows ( or collateral value ) of the impaired loan is lower than the carrying value of that loan . we periodically may agree to modify the contractual terms of loans . when a loan is modified and a concession is made to a borrower experiencing financial difficulty , the modification is considered a troubled debt restructuring . all troubled debt restructurings are initially classified as impaired . 33 an unallocated component may be maintained to cover uncertainties that could affect management 's estimate of probable losses . the unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio . stock-based compensation plans . the company measures and recognizes compensation cost relating to stock-based payment transactions based on the grant-date fair value of the equity instruments issued . stock-based compensation is recognized over the period the employee is required to provide services for the award . the company uses the black-scholes option-pricing model to determine the fair value of stock options granted . the fair value of restricted stock is recorded based on the grant date fair value of the equity instrument issued . income taxes . we recognize income taxes under the asset and liability method . under this method , deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of our assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled . the company reduces the deferred tax asset by a valuation allowance if , based on the weight of the available evidence , it is not “ more likely than not ” that some portion or all of the deferred tax assets will be realized . the company assesses the realizability of its deferred tax assets by assessing the likelihood of the company generating federal and state income tax , as applicable , in future periods in amounts sufficient to offset the deferred tax charges in the periods they are expected to reverse . based on this assessment , management concluded that a valuation allowance was not required as of december 31 , 2019 and 2018. we examine our significant income tax positions annually to determine whether a tax benefit is more likely than not to be sustained upon examination by tax authorities . comparison of financial condition at december 31 , 2019 and december 31 , 2018 assets . our total assets increased $ 147.7 million , or 15.2 % , to $ 1.1 billion at december 31 , 2019 from $ 974.1 million at december 31 , 2018. the primary reasons for the increase are increases in net loans and cash and cash equivalents , partially offset by a decrease in investments in available-for-sale securities story_separator_special_tag style= `` padding:0pt ; padding-left:0pt ; width:0pt ; `` > ​ ​ ​ ​ ​ 42.64 ​ ​ ​ ​ ​ 240,223 ​ ​ ​ ​ ​ 31.91 ​ ​ ​ ​ ​ 166,157 ​ ​ ​ ​ ​ 26.23 ​ ​ ​ ​ ​ 112,073 ​ ​ ​ ​ ​ 19.90 ​ ​ consumer ​ ​ ​ ​ 12,737 ​ ​ ​ ​ ​ 1.31 ​ ​ ​ ​ ​ 19,815 ​ story_separator_special_tag ​ ​ ​ at december 31 , ​ ​ ​ ​ 2019 ​ ​ 2018 ​ ​ 2017 ​ ​ ​ ​ allowance for loan losses ​ ​ % of loans in category to total loans ​ ​ allowance for loan losses ​ ​ % of loans in category to total loans ​ ​ allowance for loan losses ​ ​ % of loans in category to total loans ​ ​ ​ ​ ( dollars in thousands ) ​ real estate : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ ​ ​ $ 254 ​ ​ ​ ​ ​ 4.69 % ​ ​ ​ ​ $ 251 ​ ​ ​ ​ ​ 6.76 % ​ ​ ​ ​ $ 300 ​ ​ ​ ​ ​ 9.00 % ​ ​ commercial ​ ​ ​ ​ 6,104 ​ ​ ​ ​ ​ 42.89 ​ ​ ​ ​ ​ 4,152 ​ ​ ​ ​ ​ 43.00 ​ ​ ​ ​ ​ 4,483 ​ ​ ​ ​ ​ 49.35 ​ ​ construction and land development ​ ​ ​ ​ 749 ​ ​ ​ ​ ​ 4.79 ​ ​ ​ ​ ​ 738 ​ ​ ​ ​ ​ 5.26 ​ ​ ​ ​ ​ 965 ​ ​ ​ ​ ​ 7.42 ​ ​ commercial ​ ​ ​ ​ 6,086 ​ ​ ​ ​ ​ 46.32 ​ ​ ​ ​ ​ 5,742 ​ ​ ​ ​ ​ 42.64 ​ ​ ​ ​ ​ 3,280 ​ ​ ​ ​ ​ 31.91 ​ ​ consumer ​ ​ ​ ​ 650 ​ ​ ​ ​ ​ 1.31 ​ ​ ​ ​ ​ 710 ​ ​ ​ ​ ​ 2.34 ​ ​ ​ ​ ​ 649 ​ ​ ​ ​ ​ 2.32 ​ ​ total allocated allowance for loan losses ​ ​ ​ ​ 13,843 ​ ​ ​ ​ ​ 100.00 % ​ ​ ​ ​ ​ 11,593 ​ ​ ​ ​ ​ 100.00 % ​ ​ ​ ​ ​ 9,677 ​ ​ ​ ​ ​ 100.00 % ​ ​ unallocated ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 87 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 80 ​ ​ ​ ​ ​ ​ ​ ​ total ​ ​ ​ $ 13,844 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 11,680 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 9,757 ​ ​ ​ ​ ​ ​ ​ ​ ​ replace_table_token_12_th the allowance consists of general , specific , and unallocated components . the general component relates to pools of non-impaired loans and is based on historical loss experience adjusted for qualitative factors . the allocated component relates to loans that are classified as impaired , whereby an allowance is established when the discounted cash flows , collateral value , less estimated selling costs , or observable market price of the impaired loan is lower than the carrying value of that loan . an unallocated component may be maintained to cover uncertainties that could affect management 's estimate of probable losses . the unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio . we had impaired loans totaling $ 24.7 million and $ 7.5 million as of december 31 , 2019 and 2018 , respectively . impaired loans totaling $ 20.9 million and $ 1.8 million had a valuation allowance of $ 1.7 million and $ 1.1 million at december 31 , 2019 and 2018 , respectively . our average investment in impaired loans 41 was $ 26.9 million and $ 13.1 million for the years ended december 31 , 2019 and 2018 , respectively . during the fourth quarter of 2019 , a commercial real estate loan relationship with a total balance of $ 18.6 million became impaired due to insufficient cash flows to pay the debt . we expect to formally restructure this loan relationship , and based on a discounted cash flow calculation using the anticipated restructure terms , we established a specific reserve of $ 1.4 million for this relationship . a loan is considered impaired when , based on current information and events , it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement . factors considered by management in determining impairment include payment status , collateral value and the probability of collecting scheduled principal and interest payments when due . loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired . management determines the significance of payment delays and payment shortfalls on a case-by-case basis , taking into consideration all of the circumstances surrounding the loan and the borrower , including the length of the delay , the reasons for the delay , the borrower 's prior payment record , and the amount of the shortfall in relation to the principal and interest owed . impairment is measured on a loan-by-loan basis for commercial business , commercial real estate and construction and land development loans by either the present value of expected future cash flows discounted at the loan 's effective interest rate , the loan 's obtainable market price , or the fair value of the collateral if the loan is collateral dependent . large groups of smaller balance homogeneous loans are collectively evaluated for impairment based on payment status . accordingly , we do not separately identify individual one- to four-family residential and consumer loans for impairment disclosures , unless such loans are subject to a troubled debt restructuring . we periodically agree to modify the contractual terms of loans . when a loan is modified and a concession is made to a

