Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Steven Alexopoulos – JPMorgan
Steven Alexopoulos – JPMorgan
The $95 million commercial loans, is that a shared national credit?
Rene Jones
Yes it is.
Steven Alexopoulos – JPMorgan
And I take it you’re not the lead bank.
Rene Jones
No.
Steven Alexopoulos – JPMorgan
Do you have the total size of that loan?
Rene Jones
Yes, that’s it. What we have is a large commercial loan, $95 million that we transferred to nonaccrual status and its an unsecured loan that we’ve had, the relationship comes from our acquired [inaudible] portfolio and prior to that the company [Alfers] client did business with this company for, since 1968 I believe. And then the company was acquired and we stayed into the merged entity in the shared national credit.
So it’s a company that has some, that is real estate based, but its not sort of in our real estate portfolio in the classic real estate sense of M&T.
Steven Alexopoulos – JPMorgan
Total size of the credit is much larger then the $95 million.
Rene Jones
No.
Steven Alexopoulos – JPMorgan
--portion of that.
Rene Jones
I’m sorry, I don’t know that number.
Steven Alexopoulos – JPMorgan
And what was the specific reserve on the credit today?
Rene Jones
We reserved a healthy amount, let me say that.
Steven Alexopoulos – JPMorgan
Okay. Looking at the other revenue line, which was down to $59 million, was off quite a bit from where its been. Anything going on there or is that a new run rate for that line item.
Rene Jones
I know that answer but give me a second.
Donald MacLeod
It largely has to do with just the state of commercial activity. Included in there are loan fees, syndication fees, letter of credit fees, all of which are running at a reduced level in this environment.
Rene Jones
I think what you’re seeing is with the slowdown in the economy, some people are being very cautious. The investment has slowed down that’s why you see a little bit slower loan growth from us, but having said that, when I talk with the commercial folks, they tend to be relatively optimistic about that not being a permanent thing.
Operator
Your next question comes from the line of Ken Zerbe – Morgan Stanley
Ken Zerbe – Morgan Stanley
First question, I wanted to make sure my math is correct, if I heard you correctly full year NIM should be roughly equal to 2008 levels, so 338, so I guess given the 319 this quarter that would imply 345 for the next three quarters, is that, which is higher then obviously any of the quarters back in 2008, is that something you can achieve just through deposit repricing or are you relying on increases in Fed Funds or some other factors.
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