Question-and-Answer Session
Thank you. The floor is now open for questions. [Operator Instructions]. Thank you. Your first question is coming from Mark T. Fitzgibbon with Sandler O'Neill. Please go ahead sir.
Mark T. Fitzgibbon - Sandler O'Neill
Good morning, George.
George L. Engelke, Jr. - Chairman and Chief Executive Officer
Morning, Mark.
Mark T. Fitzgibbon - Sandler O'Neill
I was kind of surprised if you look at your loan breakdown there weren't any issues in California and I wonder if you can share with us where that portfolio is. Is it concentrated in Northern part of the state or is it spread throughout the state? Could you give us some granularity on that?
George L. Engelke, Jr. - Chairman and Chief Executive Officer
We have been in Northern California for that terrible long a period of time that we always limited... in our territories and I don't have the specifics, I don't know if Monte may have some thoughts, but we are down now I believe to... I think it's 17.
Mark T. Fitzgibbon - Sandler O'Neill
I think we are recovering--
George L. Engelke, Jr. - Chairman and Chief Executive Officer
Less Counties than we are used to work with... working with by Counties Mark, and a lot of less Counties that we are in now then we were a year ago.
Monte N. Redman - President and Chief Operating Officer
Yes, I think, some thing about our California loans, almost all of our California loans are full income loans and they are not all paid. We are currently lending at about seven Counties, mostly on the west coast in the fully developed areas, not new developments so really the quality of our California loans is very good as indicated, by the NPLs in the chart.
Mark T. Fitzgibbon - Sandler O'Neill
Monte, do you happen to know what the average loan-to-value ratio is, the origination on those California loans.
Monte N. Redman - President and Chief Operating Officer
The average loan-to-value of our California loans are 66.01% approximately.
Mark T. Fitzgibbon - Sandler O'Neill
That's good, terrific. And then, I am curious as to your thoughts about stock repurchases with you tangible capital ratios a little above your target range, but I am sure you saw that stuff that Moody's put our earlier this week and I am just wondering if... what your thoughts are on additional buy backs during remainder of '08?
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