Question-and-Answer Session
At this time I would like to invite questions from analyst and investors [Operator Instructions]. Your first question will be from the line of Andrea Jao of Lehman Brothers. Please proceed.
Andrea Jao - Lehman Brothers
Andrea Jao of Lehman Brothers. Good afternoon, everyone.
Russell Goldsmith - President and Chief Executive Officer
Andrea, good to hear from you.
Andrea Jao - Lehman Brothers
Likewise, with respect to credit, I know that provisioning was higher this quarter and exceeding that charge-offs, but because of low growth the share of the loans that went down. Giving your guidance of 15 to 20 million in provisions for quarter, do you think you can build reserve and if so, what level roughly speaking would do you think it's reasonable in the current environment?
Russell Goldsmith - President and Chief Executive Officer
Well, we obviously think we are at a reasonable level right now at 143 basis points. And I think that we would anticipate that, obviously as Chris suggested there are lot of moving parts here including credit quality and loan growth. But I would believe that we will be at this level or perhaps a bit higher as the year unfolds. But as long as we are at this level we are one of the... I think we are one of the highest loan net loss in credit reserves among U.S. banks.
Andrea Jao - Lehman Brothers
Okay, fair enough. Then my follow-up questions with regard to the portfolio at housing portfolio, could you remind us how big that portfolio is, where the credits are located, what original FTPs were at year end. What the updated valuations were for it based on your... based on the survey you just finished.
Russell Goldsmith - President and Chief Executive Officer
Ithink that's about five questions Andrea. The portfolio is about 5% of our term loan adjusted around 600 million and the two largest areas of concentration are in Los Angeles County and San Diego County. And then I will try to give you one-third one. at origination the FTP in that area were about 57%, most banks don't as these projects are developing they are adding cost of them, come up with a competitive origination on the [indiscernible] we will hold them and assist them, what I have just said.
Andrea Jao - Lehman Brothers
Okay. Thank you so much.
Russell Goldsmith - President and Chief Executive Officer
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