However, those risks are not the only risks we face. We cannot assure you that our future results will meet our current expectations. In addition, these statements speak only as of the date made. Our bank transacts business in the single industry of commercial banking. A 2.5% common equity Tier 1 capital conservation buffer is also required. Anti-Money Laundering and the USA PATRIOT Act. The CBLR is equal to Tier 1 capital divided by average total consolidated assets. Michigan permits both U.S. and non-U.S. banks to establish branch offices in Michigan. BUSINESS -- STATISTICAL DISCLOSURE (Continued) III. These factors may continue for a significant period of time. The spread of COVID-19 has caused us to modify many of our business practices. We have also expanded sick and vacation time for certain employees. We may take further actions as may be required or as we determine to be prudent. We do not yet know the full extent of the impact. PPP loans are eligible for forgiveness, subject to numerous limitations. The Bank is participating as a lender in the PPP. The PPP initially closed on August 8, 2020. We had no PPP second draw loans outstanding as of December 31, 2020. In addition, litigation can be costly, regardless of outcome. Changes in regulation or oversight may have a material adverse impact on our operations. Such regulation and supervision governs the activities in which we may engage. 24 We have credit risk in our securities portfolio. These industries are sensitive to global economic conditions and supply chain factors. Further, difficult economic conditions may negatively affect consumer confidence levels. Our ability to maintain and expand customer relationships may differ from expectations. We own 61 and lease 23 of the facilities in Michigan. He was promoted to Executive Vice President and Chief Lending Officer in January, 2021. Evaluation of Disclosure Controls and Procedures. Internal Control Over Financial Reporting. " See note #26 to the Consolidated Financial Statements. Currently, approximately 40% of our total employees are working remotely. Finally, risk management plays an important role in our level of net interest income. No such accretion is included in the comparable prior year periods. No such amortization is included in the comparable prior year periods. See "Portfolio Loans and asset quality.") Mortgage loan servicing, net, generated earnings of $3.2 million in 2018. We maintain performance-based compensation plans. The increase in 2019 as compared to 2018 was primarily due to the Merger. However, future losses could exceed our current estimate. Merger related expenses totaled $3.5 million in 2018. The ultimate realization of this asset is primarily based on generating future income. See "Asset/liability management.") We also have similar programs for mortgage loans that we service for others. 2) Included in non-performing loans table above. ( This rating system is similar to those employed by state and federal banking regulators. Increases in the AFLL are recorded by a provision for loan losses charged to expense. 28 Two of the four components of the AFLL outlined above increased during 2019. We view long-term core deposit growth as an important objective. 29 We cannot be sure that we will be able to maintain our current level of core deposits. At December 31, 2020, we had an estimated $755.7 million of uninsured deposits. Liquidity and capital resources. Historically, a majority of these maturing time dep
