as described in “ —management of market risk , ” we expect that our net interest income and our net economic value would decrease as a result of an instantaneous increase in interest rates . to help manage interest rate risk , we promote core deposit products and we are diversifying our loan portfolio by introducing new lending programs . see “ —business strategy ” , “ —management of market risk ” and “ risk factors—future changes in interest rates could reduce our profits and asset values . ” business strategy our goal is to provide long-term value to our stockholders , customers , employees and the communities we serve by executing a safe and sound business strategy that produces increasing earnings . we believe there is a significant opportunity for a community-focused , minority oriented bank to provide a full range of financial services to commercial and retail customers in our market area , and the increased capital we obtained as a result of the completion of the offering on september 29 , 2017 , will enable us to compete more effectively in the financial services marketplace . 48 our current business strategy consists of the following : continue to expand our multifamily and nonresidential loans . the additional capital raised in the stock offering has increased our capacity to originate multifamily and nonresidential loans . at december 31 , 2018 and december 31 , 2017 , multifamily and nonresidential loans ( not including loans secured by owner-occupied properties ) , together with construction and land loans , totaled $ 464.9 million and $ 372.7 million , or 313.1 % and 264.3 % , respectively , of total risk-based capital . under our current board approved loan concentration policy , such loans , including construction and land loans , shall not exceed 330 % of our total risk-based capital . most multifamily and nonresidential loans are originated with adjustable rates and , as a result , these loans are expected to increase loan yields with shorter repricing terms than fixed-rate loans . multifamily and nonresidential loan originations increased during the year ended december 31 , 2018 by $ 31.8 million , or 29.5 % , when compared to the same period in 2017. introduce new community lending programs . in 2017 the bank was approved as an authorized direct lender under the small business administration ( sba ) and in 2018 as a community development financial institution ( cdfi ) . the addition of both of these programs combined with its existing products will bolster the bank 's commitment to continue to serve the communities that it has supported over the past almost sixty years . continue to increase core deposits , with an emphasis on low cost commercial demand deposits , and add non-core funding sources . deposits are the major source of balance sheet funding for lending and other investments . we have made significant investments in new products and services , personnel , branch distribution system as well as enhancing our electronic delivery solutions in an effort to become more competitive in the financial services marketplace and attract more core deposits . core deposits are our least costly source of funds and represent our best opportunity to develop customer relationships that enable us to cross-sell our enhanced products and services . total deposits increased by $ 95.8 million , or 13.4 % , to $ 809.8 million at december 31 , 2018 compared to $ 714.0 million at december 31 , 2017. the majority of the increase was due to an increase of $ 14.0 million , or 3.4 % , in certificates of deposit accounts , $ 12.9 million , or 12.5 % , in demand deposits and $ 68.8 million , or 34.3 % , in other interest bearing deposits , which consist of money markets , now and savings accounts . certificates of deposit accounted for 52.4 % and 57.4 % of total deposits at december 31 , 2018 and december 31 , 2017 , respectively . while we will continue to use certificates of deposit as a funding source , our goal is to continue to reduce our reliance on this source of funding as we grow our core deposit base . manage credit risk to maintain a low level of nonperforming assets . we believe strong asset quality is a key to our long-term financial success . our strategy for credit risk management focuses on having an experienced team of credit professionals , well-defined policies and procedures , appropriate loan underwriting criteria and active credit monitoring . our non-performing assets to total assets ratio was 0.64 % at december 31 , 2018 , 1.23 % at december 31 , 2017 and 1.04 % at december 31 , 2016. the majority of our non-performing assets have been related , largely , to one-to-four family and , to a lesser extent , construction and land loans , as our residential borrowers experienced difficulties repaying their loans during the past recession . we have increased our investment in our credit review function , both in personnel as well as ancillary systems , in order to be able to evaluate more complex loans and better manage credit risk , to further support our intended loan growth . expand our employee base to support future growth . we have already made significant investments in our employee base . however , we will continue to work to attract and retain the necessary talent to support increased lending , deposit activities and enhanced information technology . grow organically and through opportunistic bank or branch acquisitions . we expect to focus primarily on organic growth as a lower-risk means of deploying our acquired capital . the capital raised also will help fund improvements in our operating facilities and customer delivery services in order to enhance our competitiveness . story_separator_special_tag total stockholders ' equity increased $ 4.4 million , or 2.7 % , to $ 169.2 million at december 31 , 2018 , from $ 164.8 million at december 31 , 2017. the increase was substantially due to net income of $ 2.7 million , a decrease of $ 1.0 million in accumulated other comprehensive loss related primarily to the defined benefit pension plan , and the release of esop shares of $ 615,000. comparison of operating results for the years ended december 31 , 2018 and 2017 general . consolidated net income for the year ended december 31 , 2018 , was $ 2.7 million compared to a net loss of $ 4.4 million for the year ended december 31 , 2017. the increase was primarily attributed to an increase of $ 4.9 million in net interest income after the provision for loan losses and by decreases of $ 2.0 million to non-interest expense and of $ 166,000 in non-interest income . interest income . interest and dividend income increased $ 7.2 million , or 18.4 % , to $ 46.2 million for the year ended december 31 , 2018 , from $ 39.0 million for the year ended december 31 , 2017. the increase was primarily due to a $ 6.8 million , or 17.8 % , increase in interest income on loans , which is our primary source of interest income . average loan balances increased $ 131.5 million , or 17.9 % , to $ 867.0 million for the year ended december 31 , 2018 from $ 735.6 million for the year ended december 31 , 2017. the increase in average loan balances was mainly driven by increases in the multifamily mortgage , nonresidential mortgage , one-to-four family mortgage , and construction and land loan portfolios . the average yield on loans decreased 1 basis point to 5.18 % for the year ended december 31 , 2018 from 5.19 % for the year ended december 31 , 2017. interest and dividend income on investment securities and federal home loan bank of new york stock increased $ 391,000 , or 47.9 % , to $ 1.2 million for the year ended december 31 , 2018 from $ 817,000 for the year ended december 31 , 2017. the yield on investment securities and federal home loan bank of new york stock increased 42 basis points to 1.74 % for the year ended december 31 , 2018 , from 1.33 % for the year ended december 31 , 2017. the average balance of investment securities and federal home loan bank of new york stock increased $ 3.8 million , or 5.8 % , to $ 69.4 million for the year ended december 31 , 2018 , from $ 65.5 million for the year ended december 31 , 2017. interest expense . interest expense increased $ 2.7 million , or 39.9 % , to $ 9.5 million for the year ended december 31 , 2018 , from $ 6.8 million for the year ended december 31 , 2017. the increase was the result of an overall increase in interest expense on certificates of deposit , savings and money markets , and interest expense on borrowings . specifically , interest expense on certificates of deposit increased $ 1.7 million , or 28.7 % , to $ 7.6 million for the year ended december 31 , 2018 , from $ 5.9 million for the year ended december 31 , 2017. this increase resulted from increases in both the average balance of certificates of deposit and the average rate we paid on certificates of deposit . the average balance of certificates of deposit increased $ 52.5 million , or 13.6 % , to $ 439.7 million for the year ended december 31 , 2018 from $ 387.2 million for the year ended december 31 , 2017 , and the average rate we paid on certificates of deposit increased 20 basis points to 1.73 % for the year ended december 31 , 2018 , from 1.53 % for the year ended december 31 , 2017. interest expense on other deposits and borrowings increased $ 1.0 million to $ 1.9 million for the year ended december 31 , 2018 from $ 866,000 for the year ended december 31 , 2017. this increase resulted from an increase in the average rate we paid on other deposits and borrowings . the average balance of other deposits and borrowings increased $ 28.6 million , or 12.8 % , to $ 256.3 million for the year ended december 31 , 2018 , from $ 227.7 million for the year ended december 31 , 2017 , and the average rate we paid on other deposits and borrowings increased 33 basis points to 0.73 % 53 for the year ended december 31 , 2018 , from 0.40 % for the year ended december 31 , 2017 , reflecting higher market interest rates . net interest income . net interest income increased $ 4.5 million , or 13.8 % , to $ 36.7 million for the year ended december 31 , 2018 from $ 32.2 million for the year ended december 31 , 2017 , primarily as a result of higher market yields on earning assets . our average net interest-earning assets increased by $ 53.8 million , or 28.9 % , to $ 240.3 million for the year ended december 31 , 2018 , from $ 186.1 million for the year ended december 31 , 2017 , due primarily to our loan growth , described above . our net interest rate spread decreased by 19 basis points , to 3.57 % , for the year ended december 31 , 2018 , from 3.76 % for the year ended december 31 , 2017 , and our net interest margin was 3.92 % and 4.02 % for the years ended december 31 , 2018 and 2017 , respectively . an increase in interest rates will present us with a challenge in managing our

liquidity and capital resources liquidity describes our ability to meet the financial obligations that arise in the ordinary course of business . liquidity is primarily needed to meet the borrowing and deposit withdrawal requirements of our customers and to fund current and planned expenditures . our primary sources of funds are deposits , principal and interest payments on loans and securities and proceeds from the sale of loans . we also have the ability to borrow from the federal home loan bank of new york . at december 31 , 2018 and 2017 , we had $ 44.4 million and $ 16.4 million , respectively , of term and overnight outstanding advances from the federal home loan bank of new york , and also had a guarantee from the federal home loan bank of new york through a standby letter of credit of $ 7.6 million . at december 31 , 2018 , we had eligible collateral of approximately $ 280.4 million in mortgage loans available to secure advances from the federal home loan bank of new york . we also have an unsecured line of credit of $ 25.0 million outstanding with zions bank , of which $ 25.0 million was outstanding at december 31 , 2018. we did not have any outstanding securities sold under repurchase agreements with brokers as of december 31 , 2018 and 2017. although maturities and scheduled amortization of loans and securities are predictable sources of funds , deposit flows and loan prepayments are greatly influenced by general interest rates , economic conditions , and competition .


 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 describes our ability to meet the financial obligations that arise in the ordinary course of business . liquidity is primarily needed to meet the borrowing and deposit withdrawal requirements of our customers and to fund current and planned expenditures . our primary sources of funds are deposits , principal and interest payments on loans and securities and proceeds from the sale of loans . we also have the ability to borrow from the federal home loan bank of new york . at december 31 , 2018 and 2017 , we had $ 44.4 million and $ 16.4 million , respectively , of term and overnight outstanding advances from the federal home loan bank of new york , and also had a guarantee from the federal home loan bank of new york through a standby letter of credit of $ 7.6 million . at december 31 , 2018 , we had eligible collateral of approximately $ 280.4 million in mortgage loans available to secure advances from the federal home loan bank of new york . we also have an unsecured line of credit of $ 25.0 million outstanding with zions bank , of which $ 25.0 million was outstanding at december 31 , 2018. we did not have any outstanding securities sold under repurchase agreements with brokers as of december 31 , 2018 and 2017. although maturities and scheduled amortization of loans and securities are predictable sources of funds , deposit flows and loan prepayments are greatly influenced by general interest rates , economic conditions , and competition .
```    
 Suspicious Activity Report : as described in “ —management of market risk , ” we expect that our net interest income and our net economic value would decrease as a result of an instantaneous increase in interest rates . to help manage interest rate risk , we promote core deposit products and we are diversifying our loan portfolio by introducing new lending programs . see “ —business strategy ” , “ —management of market risk ” and “ risk factors—future changes in interest rates could reduce our profits and asset values . ” business strategy our goal is to provide long-term value to our stockholders , customers , employees and the communities we serve by executing a safe and sound business strategy that produces increasing earnings . we believe there is a significant opportunity for a community-focused , minority oriented bank to provide a full range of financial services to commercial and retail customers in our market area , and the increased capital we obtained as a result of the completion of the offering on september 29 , 2017 , will enable us to compete more effectively in the financial services marketplace . 48 our current business strategy consists of the following : continue to expand our multifamily and nonresidential loans . the additional capital raised in the stock offering has increased our capacity to originate multifamily and nonresidential loans . at december 31 , 2018 and december 31 , 2017 , multifamily and nonresidential loans ( not including loans secured by owner-occupied properties ) , together with construction and land loans , totaled $ 464.9 million and $ 372.7 million , or 313.1 % and 264.3 % , respectively , of total risk-based capital . under our current board approved loan concentration policy , such loans , including construction and land loans , shall not exceed 330 % of our total risk-based capital . most multifamily and nonresidential loans are originated with adjustable rates and , as a result , these loans are expected to increase loan yields with shorter repricing terms than fixed-rate loans . multifamily and nonresidential loan originations increased during the year ended december 31 , 2018 by $ 31.8 million , or 29.5 % , when compared to the same period in 2017. introduce new community lending programs . in 2017 the bank was approved as an authorized direct lender under the small business administration ( sba ) and in 2018 as a community development financial institution ( cdfi ) . the addition of both of these programs combined with its existing products will bolster the bank 's commitment to continue to serve the communities that it has supported over the past almost sixty years . continue to increase core deposits , with an emphasis on low cost commercial demand deposits , and add non-core funding sources . deposits are the major source of balance sheet funding for lending and other investments . we have made significant investments in new products and services , personnel , branch distribution system as well as enhancing our electronic delivery solutions in an effort to become more competitive in the financial services marketplace and attract more core deposits . core deposits are our least costly source of funds and represent our best opportunity to develop customer relationships that enable us to cross-sell our enhanced products and services . total deposits increased by $ 95.8 million , or 13.4 % , to $ 809.8 million at december 31 , 2018 compared to $ 714.0 million at december 31 , 2017. the majority of the increase was due to an increase of $ 14.0 million , or 3.4 % , in certificates of deposit accounts , $ 12.9 million , or 12.5 % , in demand deposits and $ 68.8 million , or 34.3 % , in other interest bearing deposits , which consist of money markets , now and savings accounts . certificates of deposit accounted for 52.4 % and 57.4 % of total deposits at december 31 , 2018 and december 31 , 2017 , respectively . while we will continue to use certificates of deposit as a funding source , our goal is to continue to reduce our reliance on this source of funding as we grow our core deposit base . manage credit risk to maintain a low level of nonperforming assets . we believe strong asset quality is a key to our long-term financial success . our strategy for credit risk management focuses on having an experienced team of credit professionals , well-defined policies and procedures , appropriate loan underwriting criteria and active credit monitoring . our non-performing assets to total assets ratio was 0.64 % at december 31 , 2018 , 1.23 % at december 31 , 2017 and 1.04 % at december 31 , 2016. the majority of our non-performing assets have been related , largely , to one-to-four family and , to a lesser extent , construction and land loans , as our residential borrowers experienced difficulties repaying their loans during the past recession . we have increased our investment in our credit review function , both in personnel as well as ancillary systems , in order to be able to evaluate more complex loans and better manage credit risk , to further support our intended loan growth . expand our employee base to support future growth . we have already made significant investments in our employee base . however , we will continue to work to attract and retain the necessary talent to support increased lending , deposit activities and enhanced information technology . grow organically and through opportunistic bank or branch acquisitions . we expect to focus primarily on organic growth as a lower-risk means of deploying our acquired capital . the capital raised also will help fund improvements in our operating facilities and customer delivery services in order to enhance our competitiveness . story_separator_special_tag total stockholders ' equity increased $ 4.4 million , or 2.7 % , to $ 169.2 million at december 31 , 2018 , from $ 164.8 million at december 31 , 2017. the increase was substantially due to net income of $ 2.7 million , a decrease of $ 1.0 million in accumulated other comprehensive loss related primarily to the defined benefit pension plan , and the release of esop shares of $ 615,000. comparison of operating results for the years ended december 31 , 2018 and 2017 general . consolidated net income for the year ended december 31 , 2018 , was $ 2.7 million compared to a net loss of $ 4.4 million for the year ended december 31 , 2017. the increase was primarily attributed to an increase of $ 4.9 million in net interest income after the provision for loan losses and by decreases of $ 2.0 million to non-interest expense and of $ 166,000 in non-interest income . interest income . interest and dividend income increased $ 7.2 million , or 18.4 % , to $ 46.2 million for the year ended december 31 , 2018 , from $ 39.0 million for the year ended december 31 , 2017. the increase was primarily due to a $ 6.8 million , or 17.8 % , increase in interest income on loans , which is our primary source of interest income . average loan balances increased $ 131.5 million , or 17.9 % , to $ 867.0 million for the year ended december 31 , 2018 from $ 735.6 million for the year ended december 31 , 2017. the increase in average loan balances was mainly driven by increases in the multifamily mortgage , nonresidential mortgage , one-to-four family mortgage , and construction and land loan portfolios . the average yield on loans decreased 1 basis point to 5.18 % for the year ended december 31 , 2018 from 5.19 % for the year ended december 31 , 2017. interest and dividend income on investment securities and federal home loan bank of new york stock increased $ 391,000 , or 47.9 % , to $ 1.2 million for the year ended december 31 , 2018 from $ 817,000 for the year ended december 31 , 2017. the yield on investment securities and federal home loan bank of new york stock increased 42 basis points to 1.74 % for the year ended december 31 , 2018 , from 1.33 % for the year ended december 31 , 2017. the average balance of investment securities and federal home loan bank of new york stock increased $ 3.8 million , or 5.8 % , to $ 69.4 million for the year ended december 31 , 2018 , from $ 65.5 million for the year ended december 31 , 2017. interest expense . interest expense increased $ 2.7 million , or 39.9 % , to $ 9.5 million for the year ended december 31 , 2018 , from $ 6.8 million for the year ended december 31 , 2017. the increase was the result of an overall increase in interest expense on certificates of deposit , savings and money markets , and interest expense on borrowings . specifically , interest expense on certificates of deposit increased $ 1.7 million , or 28.7 % , to $ 7.6 million for the year ended december 31 , 2018 , from $ 5.9 million for the year ended december 31 , 2017. this increase resulted from increases in both the average balance of certificates of deposit and the average rate we paid on certificates of deposit . the average balance of certificates of deposit increased $ 52.5 million , or 13.6 % , to $ 439.7 million for the year ended december 31 , 2018 from $ 387.2 million for the year ended december 31 , 2017 , and the average rate we paid on certificates of deposit increased 20 basis points to 1.73 % for the year ended december 31 , 2018 , from 1.53 % for the year ended december 31 , 2017. interest expense on other deposits and borrowings increased $ 1.0 million to $ 1.9 million for the year ended december 31 , 2018 from $ 866,000 for the year ended december 31 , 2017. this increase resulted from an increase in the average rate we paid on other deposits and borrowings . the average balance of other deposits and borrowings increased $ 28.6 million , or 12.8 % , to $ 256.3 million for the year ended december 31 , 2018 , from $ 227.7 million for the year ended december 31 , 2017 , and the average rate we paid on other deposits and borrowings increased 33 basis points to 0.73 % 53 for the year ended december 31 , 2018 , from 0.40 % for the year ended december 31 , 2017 , reflecting higher market interest rates . net interest income . net interest income increased $ 4.5 million , or 13.8 % , to $ 36.7 million for the year ended december 31 , 2018 from $ 32.2 million for the year ended december 31 , 2017 , primarily as a result of higher market yields on earning assets . our average net interest-earning assets increased by $ 53.8 million , or 28.9 % , to $ 240.3 million for the year ended december 31 , 2018 , from $ 186.1 million for the year ended december 31 , 2017 , due primarily to our loan growth , described above . our net interest rate spread decreased by 19 basis points , to 3.57 % , for the year ended december 31 , 2018 , from 3.76 % for the year ended december 31 , 2017 , and our net interest margin was 3.92 % and 4.02 % for the years ended december 31 , 2018 and 2017 , respectively . an increase in interest rates will present us with a challenge in managing our

