Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Steve Alexopoulos - J.P. Morgan.
Steve Alexopoulos - J.P. Morgan
Greg, could you first break out the specific reserves on the construction and development portfolio? And then I know there's overlap, but what's the reserves on the nonperformers as well?
Greg Smith
Well, Steve, we don't break out the specifics of our reserve in terms of the specific reserve, how much is on nonperformers and how much goes into the general. You'll get some of that detail when the 10-K gets published, but we're not going to go into those specifics today.
I will, of course, reiterate that we have $647 million of partial chargeoffs against our non-accrual loans. And, of course, of our nonperforming loans, $270 million are renegotiated loans. The other item that I thought was particularly in terms of our non-accrual loans as we were going back through them is that basically $470 million of our nonperforming loans are not even past due.
Steve Alexopoulos - J.P. Morgan
Maybe we could change direction for a second. I know you said you were comfortable with total equity. What do you think about a trigger point where you start to think more seriously about going to the markets with common? Is it a specific level of total equity, tangible common, nonperformers? How are you thinking about that in this environment?
Greg Smith
Well, we are, as is very clear with the variety of steps we've taken today and the uncertainty in the economic environment, we are preserving capital, again, whether it's the dividend or some of the expense initiatives that we announced. Those are all capital driven.
There is not a magic number, a magic threshold to answer your question, because you've got to look at a number of factors at any point in time. It's got to be your own existing capital levels, where we are in the economic cycle, so I can't give you a hard-and-fast number. It would depend on the conditions at that point in time.
The other thing I would point to is our regulatory capital ratios are still very strong, with a Tier 1 of about 9.5% and a total in excess of 13%.
Steve Alexopoulos - J.P. Morgan
With tangible common I guess hovering around 6%, is it something you're at least contemplating or is it just not something you're even evaluating today?
Greg Smith
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