Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Jack Frank – Private Investor
Jack Frank – Private Investor
Are we expecting to receive any government funds to help stabilize to the issues that we have?
William McManaman
Let me try to take that one and I’ll make comments across the board with regard to both capital and TARP. I think we said in our comments that we have been and we continue to actively and extensively pursue all capital raising activities available in today’s marketplace. And let me reemphasize the words actively and extensively and all in that comment.
Let me also say that we like most public companies have not made public any comment regarding TARP or TARP applications or TARP discussions. Most banks as you probably know have considered the terms and conditions of TARP and looked upon it very favorably in today’s marketplace. There have also been many announcements by banks regarding TARP that have been made and have been concluded but there are also many that are still pending in today’s marketplace.
Those are really all the comments that I can make with regard to our capital raising activities and TARP or any other government program.
Operator
Your next question comes from the line of Brian Martin – Howe Barnes
Brian Martin – Howe Barnes
The absolute level of regulatory capital, do you have what that is? The $411 from the press release is that bank only or is that holding company?
Judith Sutfin
Its bank only.
Brian Martin – Howe Barnes
Do you have what the holding company is as well?
William McManaman
Not right in front of us. I don’t have it in terms of dollars right now.
Brian Martin – Howe Barnes
In percentages, it is 10% as well?
William McManaman
It is north of 10%, yes.
Brian Martin – Howe Barnes
Can you just talk about the reduction in assets going forward, you talked about the single service accounts and maybe give a little color on what you’re looking at there and quantify that to some degree and maybe just talk a bit about any type of asset sales that would may be likely or are you even considering them at this point or a possibility.
William McManaman
There’s a range of things. As, actually we’ve talked about for several quarters we’ve been clear that one of the problems with managing through this balance sheet and this environment is a grossly excessive concentration in commercial real estate and even more specifically in resi development loans as a subsector.
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