Question-and-Answer Session
Operator
Thank you, the first question comes from Hugh Miller. Your line is open.
Hugh Miller – Sidoti & Co, LLC
Hi, good morning.
Unidentified Company Representative
Good morning Hugh, how are you?
Hugh Miller – Sidoti & Co, LLC
Good. I had a question, I think John you may’ve mentioned that they were, you guys are looking to injection capital into the Bank in the March quarter. I wanted to see that was a correct statement and, if so at what particular level will you take that up to and how will that be funded?
Kenneth R. Hanks
This is Ken. Well we plan on injecting what - at the time that we do it. Amount that will keep the Bank at a well capitalized levels for a substantial time even if they continue to have relatively flat earnings.
Hugh Miller – Sidoti & Co, LLC
Okay, I know that you guys are at about 10% now on the total capital ratio, is there a target on getting that up to a certain particular level?
John L. Holt Jr
Yeah, this is John and we would certainly like to have a little bit of vision there and so I’d anticipate that we would get it up by more in the 10.5% to 11% range.
Hugh Miller – Sidoti & Co, LLC
Okay great and then – and how would that typically be done in and funded?
Unidentified Company Representative
We seem to be a little, invasive it’s because lot of times our Board likes us to be clear it with them before doing them. So I have and move the capital around. That’s one we are kind of waiting to chat with them about this. Before we make any more public statement.
Kenneth Hanks
We do have Hugh the broker-dealer has excess capital of over a $125 million. And we like to operate at least a minimum of 100 excess capital there and we like to have cushion there. So it’s going to something less than that number obviously, but somewhere it’s going to be a 5, or 10, or15 type amount.
Hugh Miller - Sidoti & Co, LLC
Okay, certainly understandable and how should we be thinking about loan growth at the Bank, given I guess the current capital levels and the operating environment obviously, during the quarter we saw a strong growth in the commercial side. I guess it alluded to some deterioration in that market that you were experiencing. How should we be thinking about the growth at the Bank from a lending standpoint?
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