Question-and-Answer Session
Operator
Your first question comes from Devin Ryan - Sandler O’Neill.
Devin Ryan - Sandler O’Neill
Question for Steve. With the agent banks finishing the SNC review, can you give us any color on kind of what you’re hearing about particular credits and just how you felt you were marked in light of that and just any of the color, that you’ve received so far?
Tom James
We have not gotten the results of the Shared National Credit exam. We would expect that in late August, early September. We are in conversations with the agent banks on these credits and we attempt on every single loan, where they may have already had the results of the report on the examination on that particular credit, so that we try to match up our risk ratings and reserves accordingly.
In some cases, those reviews have been completed and in some cases, they haven’t. In some cases, actually, the agent won’t share that information with us. So obviously, what we’re trying to do is make sure we don’t wind up this quarter with any surprises. We have been very diligent about downgrading loans in a very timely fashion.
I would also mention that our third party loan review company has already reviewed about 40% of the dollars of our corporate portfolio. They’re going to be here in August, to review about another 30%. So this fiscal year, our third party loan review company would have reviewed about 70% of the dollars of our portfolio, but you point about the Shared National Credit exam is a very relevant. We’re trying to make sure we don’t wind up with any surprises this quarter in terms of the examiners differing with our risk ratings.
Jeff Julien
Again, Steve you would point out based on the 40%, you’ve been through and what you’ve looked at that we’re in good shape. Our percentages continue to be much lower than the national averages.
Tom James
Devin, just one more thing; as you can imagine, every loan that we would have on our watch on worst list has already been reviewed by the third party loan review company.
Devin Ryan - Sandler O’Neill
Then just in terms of the decline in loan balances, if I missed this. Was that primarily treated to REITs paying down credit lines with them raising equity in the quarter? Or were there [Multiple Speakers]?
Tom James
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