Question-and-Answer Session
Operator
Our first question comes from Mark Fitzgibbon - Sandler O’Neill and Partners.
Mark Fitzgibbon - Sandler O’Neill and Partners
Thanks. First, and I apologize if you mentioned this because I hopped on the call a minute or two late, but do you plan to participate in the Treasury’s voluntary capital purchase plan?
Paul Pantozzi
We have not made that determination yet, Mark. We’re taking it under advisement and doing the analysis as we speak.
Mark Fitzgibbon - Sandler O’Neill and Partners
Okay. Then secondly, I noticed in your unfunded pipeline you had about $120 million of construction loans. Does it make sense to leave those unfunded given the market conditions, or are these real attractive loans that you feel like make a lot of sense to lend right now?
Christopher Martin
We do lend to our customers who have been with us a long time. And they see opportunities, albeit it may be at cheaper levels, but then it may be outside of the New Jersey market out in Pennsylvania, primarily.
Most of our loan documentation and our loans other than the ones that we have detailed in the Q would state that we’re still following our customers. There’s still some opportunity and I don’t think we can cut back on the unfunded. We just have to watch as things progress and things are slow out there, but still performing.
Mark Fitzgibbon - Sandler O’Neill and Partners
Is it residential construction or commercial construction?
Christopher Martin
Residential and commercial, but more residential.
Mark Fitzgibbon - Sandler O’Neill and Partners
Okay. And then, I wondered if you could just give us a sense for how the 30 to 90-day delinquency trends are looking?
Linda Niro
30 to 60 actually came down in the third quarter, Mark, to $21.2 million from just about $24 million in the second quarter.
Mark Fitzgibbon - Sandler O’Neill and Partners
Okay. And then, last question, probably Linda, on the margin, obviously the trend was fabulous this quarter. Can you hold the margin at this level do you think?
Linda Niro
We think we’ll still get a little bit more expansion in the fourth quarter, not 27 basis points. I think probably more five to seven.
Mark Fitzgibbon - Sandler O’Neill and Partners
Super. Thank you very much.
Operator
Our next question comes from Matthew Kelley - Sterne, Agee.
Matthew Kelley - Sterne, Agee
In the fee income, the $1.2 million increase in the market value of equity holdings?
- To read the full transcript on Seeking Alpha, click here »
