Question-and-Answer Session
Operator
Thank you. Ladies and gentlemen we will now begin the question-and-answer session. (Operator Instructions). Our first question comes from the line of Aaron Deer with Sandler O'Neill Asset Management. Please go ahead.
Aaron Deer - Sandler O'Neill Asset Management
I guess starting with the RAL program. Can you give some better indication in terms of what your expectations are for the full year losses in that program? I'd like to get a little bit more color on what kind of recoveries you might expect based on what you've seen so far in terms of collections in this first three weeks of the program?
Dave Porter
Yeah. Hi Aaron its Dave Porter. In the first quarter we take some charge-offs that are a little larger than we see for the full year because of the timing of the payments. But, I think what we're anticipating for the full year at this point is about 130 to 135 basis point net charge-off number for this year's activities for the entire of 2009 season.
Aaron Deer - Sandler O'Neill Asset Management
And since, I guess it's tough to gauge exactly what the average earning assets are in that particular, can you maybe give us a better sense of what that would be in a dollar amount?
Dave Porter
I don't think at this point. Yeah. I think until we see the total volumes that come in, and we haven't seen April 15 yet, it would be hard for us to give you that specificity at this point.
Aaron Deer - Sandler O'Neill Asset Management
All right. And then on the RTs, can you explain why the RT fees went down from last year if the volumes went up from I think they were at $5.4 million it looks like they are about 5.6 million this quarter?
Dave Porter
You know I think it was a factor of lower average fees, pricing on those and the nature of the RTs coming from the tax preparers or coming from the electronic software preparation like into its total tax et cetera and the difference in the fees we get from those different channels.
Aaron Deer - Sandler O'Neill Asset Management
Okay, and then I guess a question with - I was particularly surprised to see that the performance in the RAL business, your guidance have been for similar volumes and you did suggest that the profitability would be lower, but obviously its much, much lower than I guess I was lead to believe. Have you considered providing monthly performance statistics on this program so that investors and analysts might have a better sense of what's going on throughout the RAL RT seasons we can avoid these kinds of surprises?
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