Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Brett Rabatin of FTN Midwest.
Brett Rabatin - FTN Midwest
I guess I’m first surprised you guys are buying stock back here recently, I know you haven’t done any -- A, as you are evaluating that, is that a function of potential acquisitions? I can’t imagine -- I’m not sure why you would be too gung-ho to be getting involved in the tarp. And then secondly just you are going to grow your capital ratios. Aside from any government involvement, do you have a target now, a new target?
Allan R. Landon
We haven’t set a specific target. We are going to continue to let the ratios go up as we slow our repurchase. We stopped in the middle of September with repurchase and I think you did a very nice job of summarizing what we are considering as we look at the capital purchase program. But I’m thinking that there are sort of macro factors that are involved and we’ve got to watch those too. From just our bank standpoint right now, we feel pretty comfortable with our capital plan and strategy and as you know, Hawaii is a pretty concentrated market already so the likelihood of in-market acquisitions seems to be sort of an outlayer for us.
Brett Rabatin - FTN Midwest
Okay, and I had a ton of questions on credit, just let me ask one or two -- can you talk a little more about the very specific line exposures that you alluded to in the comments?
Allan R. Landon
I think Mary is just dying to get that question, Brett.
Mary E. Sellers
One of the clients who develops and manages retail centers that’s currently having some difficult refinancing debt maturities, given the illiquid capital markets. The second in our legacy leverage lease portfolio and there we have a conduit that has some structural issues. The actual lessee is quite strong but the structure itself is problematic. And then we have a construction loan on the mainland, one of our only two which in total are less than $10 million. The project is complete but sales have slowed. So all in all, we felt prudent to put some additional reserves against those exposures this quarter.
Brett Rabatin - FTN Midwest
Okay, and then Mary, there were some comments earlier about consumer losses at least at current levels going forward and maybe higher depending on the environment. Can you talk some about what you are seeing in the installment portfolio? Has the duration of those loans extended out and what you are seeing on the indirect auto as well?
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