Question-and-Answer Session
Operator
Thank you. (Operator instructions) And our first question today comes from Craig Siegenthaler of Credit Suisse.
Craig Siegenthaler - Credit Suisse
Thanks and good morning.
Charlie Nugent
Good morning, Craig.
Phil Wenger
Good morning, Craig.
Craig Siegenthaler - Credit Suisse
First, just on product quality. Should we read into the delinquency pick up this quarter in terms of having an impact in NPL growth next quarter? And especially since the level you disclosed is really a 90-day plus, which is right before a loan will go into NPL segmentation?
Phil Wenger
Craig, I believe the entire 90-day delinquent loans are in our NPL number. So we think the 30 and 60-day category are more of an indication of future NPLs.
Craig Siegenthaler - Credit Suisse
Could you disclose that level? 30 -- in other words, we have to wait for the line (inaudible) filings in a couple of weeks?
Phil Wenger
Well, we disclosed a percentage. The--
Craig Siegenthaler - Credit Suisse
Meanwhile, while you’re just looking for that, I was wondering what geography and loan class drove this pick up in the 90-day plus?
Phil Wenger
Hold on a second there, Craig. We’re getting a number for you.
Craig Siegenthaler - Credit Suisse
Okay. Thank you.
Phil Wenger
Our 30-day delinquency is totally $2 million, and 60-day is at $38 million.
Craig Siegenthaler - Credit Suisse
And do you know how they trended sequentially from the second quarter?
Phil Wenger
Yes. The 30-day dropped from, I think, 72 basis points to 68 basis points. And the 60-day increased 1 basis point from 30 to 31.
Craig Siegenthaler - Credit Suisse
And then my second question really was, what geography and loan class drove this? Was it Maryland or -- and also in terms of the loan class?
Phil Wenger
Are you speaking of delinquency?
Craig Siegenthaler - Credit Suisse
The 90-day plus delinquency, the one that picked. I was wondering what geography and kind of loan class drove that change?
Phil Wenger
It was spread across the corporation. And I\m not sure I have the -- I'll try and get that for you. Yes. Just on the 90-day delinquency, actually Pennsylvania had the highest increase, followed by Virginia and New Jersey
Craig Siegenthaler - Credit Suisse
And do you know what type of loans these were?
Phil Wenger
Yes. The largest was in the commercial loan area. And the balance was split, actually the consumer commercial mortgage and residential mortgage would be -- they were split evenly and construction mortgage was actually a little lower than the other categories.
- To read the full transcript on Seeking Alpha, click here »
