Question-and-Answer Session
Operator
Thank you sir. (Operator instructions) Your first question comes from Chris McGratty. Please go ahead.
Chris McGratty – Keefe, Bruyette & Woods
Good morning guys.
Mariner Kemper
Good morning Chris.
Chris McGratty – Keefe, Bruyette & Woods
Just a quick question on the shared national credit exposure, I think you indicated in the Press Release to increase the nonperformers who were SNIC [ph] can you give us the size of the SNIC exposure that you guys have?
Mike Hagedorn
The credit that was referenced in total currently has roughly about $10 million in outstanding. The total SNIC exposure I do not have at my –
Mariner Kemper
It is about $1 billion.
Chris McGratty – Keefe, Bruyette & Woods
Okay on that $1 billion exposure what would you say is the lead on as opposed to a participant?
Mike Hagedorn
We are a lead in one of them.
Mariner Kemper
Yes, we are leading about $150 million credit –
Mike Hagedorn
We are largely a participant.
Chris McGratty – Keefe, Bruyette & Woods
Okay, so $150 million to $1 billion nearly. Okay that is helpful and then geographically and by industry type can you give any color?
Mariner Kemper
Yes, I would say we operated in that state just like we do with everything else we do. It is largely in footprint and a very high quality portfolio.
Chris McGratty – Keefe, Bruyette & Woods
Okay that is helpful. Moving on to the investment portfolio Mike, I guess maybe can you talk to what exactly you have been buying the last few quarters and then maybe talk to the duration today as it compares to the last few quarters?
Mike Hagedorn
Sure. Let me take the latter half of that question first, the duration has not materially changed slightly a little less duration, so a few less months actually in total maturity but not by changing any materially. So you are going to see us hovering around the high 20 months, 28, 29, 30 months at the most. As far as the actual purchases, we are buying a lot of agency debt, in fact within our non-core portfolio 34% of that portfolio is made up of Fannie and Freddie agency debt. We are still buying agency debt in the core portfolio too but that is only 7% of the total holdings.
Chris McGratty – Keefe, Bruyette & Woods
Okay.
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