Question-and-Answer Session
Operator
Thank you, sir. (Operator Instructions). Our first question is from Brett Rabatin of Stern AG.
Harold Gilkey
Good morning, Brett.
Brett Rabatin - Stern AG
Good morning, Harold. How are you?
Harold Gilkey
Good.
Brett Rabatin - Stern AG
First, thanks for providing additional color on the commercial real state portfolio. That was helpful. I am curious maybe, if Dan, if you have the numbers for the commitments for construction and commercial real state land, I know construction commitments were about 0.5 billion last quarter, and CRO (ph) and land were about 1 billion, Dan if you have those numbers handy?
Daniel Byrne
In the commercial real estate portfolio?
Brett Rabatin - Stern AG
Yeah, I just wanted... I guess I'm trying to figure out, I am thinking not so on a risk based capital and the commitments of balance sheet, what they are and obviously half of that is sort of goes into the total risk-based calculation?
Daniel Byrne
The commercial real estate component is about $950 million.
Brett Rabatin - Stern AG
Okay.
Daniel Byrne
Multi-family is the $470 million.
Brett Rabatin - Stern AG
Multi-family is 470 million?
Daniel Byrne
That's correct.
Brett Rabatin - Stern AG
Okay. Do you have a number for construction? Or is that included in the commercial real estate?
Daniel Byrne
In terms of the residential construction?
Brett Rabatin - Stern AG
Correct.
Daniel Byrne
Residential construction is about $1.9 billion.
Brett Rabatin - Stern AG
1.9... okay. Maybe we can follow-up offline on that...my numbers are a little different. I think I am wanting (ph) something together. And then, I wanted to ask... you guys were talking about how, it seems like you're still are confident about, you obviously had a tough quarter in the 4Q and recognized a lot of losses but it sounds like you're still fairly confident about how things will play out despite a tough environment.
But you really haven't had, in terms of credit I mean, it's all been related to basically the construction and real state market. And so, I guess I'm curious as to how you're thinking about the commercial real state portfolios, the C&I portfolios and just stress to us your doing in those areas and why you are confident even though you know the economy is sullying those portfolios or cause some additional stress?
Harold Gilkey
Brett, let me begin by saying that my confidence level for the future is deteriorated and I believe that that's positive for the marketplace. If you'll recall in end of the first quarter of '08, we were reporting substantial losses, substantial classified non-performers. The second quarter, we saw that there was a down turn and the upturn of FDAs and classified and I felt fairly comfortable that the process was going to work well.
- To read the full transcript on Seeking Alpha, click here »
