Question-and-Answer Session
Operator
Thank you sir. (Operator instructions). Okay, our first question comes from Tom, excuse me Tim [Brazillo] with KBW. Please go ahead sir.
Tim [Brazillo] - KBW
Hello good afternoon. I have two questions for you the first one is in regard to the loan growth, it’s been healthy quarter over quarter and year over year. And I’m just kind of curious about the run rate going forward, should we be expecting the same type of growth or is it going to stifle down a little bit?
John Dolan
I think for the short term we have a nice pipeline and will continue to grow. I think quite frankly to do this quarter over quarter is unrealistic.
Ed Lipkus
And this is Ed Lipkus Tim, I’d have to say that because of some of the conduit markets if not all of them drying up and the capital market season up we don’t know how long that’s going to last so it’s really hard to predict any kind of run rate on these types of credits. It’s our expectation to minimize the run rates and we do certainly strategically try to position ourselves to avoid but it’s really hard to predict.
Tim [Brazillo] - KBW
Okay, thank you for that. And the second question I have is in regards to reserves. I see that they’ve been declining slightly for the past couple quarters, is a trend that’s going to continue or should we expect them to kind of level out at this current level.
Ed Lipkus
That’s an excellent question Tim, again it’s Ed Lipkus and I’ll say this. We’ve disclosed that we had too large credit problems that we are working out we think we’re working them out satisfactorily right now. We do believe that our asset quality overall has improved over the last couple of quarters. We do an extensive analysis every quarter to determine how, to make sure that our allowance is adequate and the numbers are the number we do a significant amount of modeling here and we are very comfortable whether or not we would expect the trend to continue we think we’re using very conservative underwriting fundamentals I don’t have a personal wall but I can tell you that they’ve been in a band here north of 1% to say 1.15 of loans and they’ll probably remain in that band.
Tim [Brazillo] - KBW
Okay perfect. Thank you very much.
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