Question-and-Answer Session
Operator
(Operator instructions) Our first question comes from Bain Slack with KBW. Your line is open, sir.
Bain Slack – KBW
Hi, good afternoon.
Chris Spencer
Hi, Bain.
Patrick Dee
Hi, Bain.
Bain Slack – KBW
Hey. I guess quickly just kind of touch on some issues in the – you took some gains in the security portfolio this quarter. Any – what are the opportunities going into the next few quarters for that – for to continuing to harvesting the gains, do you see currently?
Chris Spencer
Bain, this is Chris. It’s not real significant. We have already taken some gains in October. As I had indicated, it’s currently about the $1 million level and past that I don’t see a whole lot of opportunity.
Bain Slack – KBW
Okay. And I guess you know obviously the – as you said in the conclusion, the concentration seems to be getting the capital levels back to – I would assume first up getting back to the well capitalized level. And I guess the conversation is regular, obviously you have an agreement to go to even higher levels, but how are the discussions given where you are today and then getting to that well capitalized level and to the higher level, I mean what’s their – if they have any sort of timing and urgency with regards to those requirements?
Patrick Dee
Well, Bain, under the formal written agreement that we entered into in July, there is no specified time table for getting our capital levels up nor is there a specified level. Clearly, regulators would like to thrust (inaudible) to have them to significantly higher levels and we are going to work at that over a period of time. At this point, there is no immediate pressure for us to do anything, but we do have a – certainly a sense of urgency about that to try to manage those capital levels in the right direction. So, even absent any hard and fast requirement, we certainly want to do everything we can to get it moving in the right direction.
Bain Slack – KBW
Okay. And I guess from also what I heard it sounds like the main driver to get you there is going to be a drop in the loan portfolio, I guess one run off and – or maybe another way to look at it is the risk weighted assets coming down. What – I guess what’s the pace that you guys see over the next especially I guess one-to-four quarters of that coming in on a dollar basis?
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