Question-and-Answer Session
Operator
(Operator instructions) The first question comes from Jim Bradshaw of D.A. Davidson. Sir, your line is open.
Jim Bradshaw
Good morning. Harold or Dan, how much of the reserve, the $145 million in reserves, is general versus -- or specific versus general reserves, I should say?
Dan Byrne
The majority of it is in the general category. We have got approximately $19 million in specific reserves.
Jim Bradshaw
And Dan, should I read from that it is just too early for you to identify loss exposure, or is the loss exposure on the non-performing asset bucket generally not all that severe?
Harold Gilkey
Well, before Dan answers that question, Jim, I think that basically what we have experienced as a liquidity crisis are borrowers, not on a money security, the inventory. And therefore, the largest effect on us will be primarily a non-accrual activity. And then, the next impact will be how many of those homes do we actually end up with, which is followed by how well the market pricing holds up. And we believe that our advances under our normal credit rate were appropriate for the time, but ultimately it depends on the inventory. Dan, do you want to expand on that?
Dan Byrne
Sure. I would just add that we have not seen a lot in the way of actual charge-offs, Jim. Actually, charge-offs were down a little bit in the first quarter compared to the fourth quarter. So it's a little hard for us to gauge. We're really looking at what our historical losses are and trying to be conservative in projecting those. But, to be honest, it is a little hard to gauge at this point.
Jim Bradshaw
Sure. Maybe, Dan, you could touch on inflows and outflows into the non-performing asset bucket, how about $80 million increase I think, how much paid off or cured in the quarter? How much and then (inaudible) back into how much the net addition was?
Dan Byrne
Sure. I would say that we are probably more coming into the bucket than going out of the bucket. And interestingly enough, we did see a progressively improving outflow of items that were getting paid off for the quarter. My recollection is that we had somewhere in the neighborhood of about $20 million of loans that were paid off during the quarter, which was about doubling of what we saw in the fourth quarter.
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