As you know we will fully deploy our capital sometime by the end of this year or early next year. As that happens, we’ve pulled back from certain asset classes. We don’t buy as many residential loans as we used to through the corresponding channel. That’s a pretty good example. We were doing probably twice as much of that six quarters ago than we’re doing today. There were business that we’ve exited completely like the auto business, which would have been by now easily $0.5 billion size portfolio for us. We are responding to where we are in our evolution. We’re trying to at the end of the day solve for risk adjusted return on equity and of course growth as well. But the elements of that growth are different from a year from now than they are today. It’s not fair to say we went from zero to 60 and we stayed at 60. Yes, we went from zero to 60, but that 60 is actually very different than a year ago what it was, or two years ago what it was.
Ken Zerbe, Morgan Stanley
Got it, alright. That helps. And then just a follow-up question. On the first quarter loan growth, John, you kind of alluded a couple times the first quarter could be very strong. Do you want to — can you put any numbers around that?
John Kanas, Chairman, President and CEO
No dear. It’s too early because of all of the issues we talked about before, how these things slide over. I mean I do know that there some things frankly that slid over from the fourth quarter because of the way the holidays fill. If you had a holiday on a Thursday and so we have some closings set for Friday that slipped into Monday, which puts them into ’15. You’ve got some of that and there’s a strong pipeline. I’m sitting here looking at Tom Cornish, who we were talking about this morning and Tom is seeing a very strong pipeline here in Florida, stronger than we’ve seen in the past. I don’t want to put numbers on it on a quarter-to-quarter basis, but we are comfortable with our prognostication 45 for the year.
Ken Zerbe, Morgan Stanley
Great. Alright. Thank you.
Operator
Our next question will come from the line of Stephen Scouten from Sandler O’Neill. Please proceed.
Stephen Scouten, Sandler O’Neill
Hey guys. Good morning. Thanks for taking my call. A couple clarifying questions, one for you, Leslie. In regards to the indemnification asset amortization, you said it would be largely flat in ’15 versus ’14. So would this quarter kind of be the peak of where you expect that number to be on a quarterly basis?
Leslie Lunak, Chief Financial Officer
Probably, this quarter or next quarter. But again I say that with a little bit of reservation in my voice because that can change based on our quarterly update, quarterly updated cash flow forecast for the covered loans. But sitting here today, that’s how I would be looking at that and then lower amortization after ’15 going forward. I think another way to think about this and I’ve said that before, is if you look at the combined yield on the indemnification asset and the covered loans, it should stay between 9% and 10%. There is a sanity check on the overall picture.
Stephen Scouten, Sandler O’Neill
Okay. And when does that real inflection point occur due to the level of yield amortization and kind of how that accounting works? Is it what you are saying? Into ’16 you’re really start to see that inflect downward due to the way it’s weighted, or is it more pronounced later on?
Leslie Lunak, Chief Financial Officer
With respect to the indemnification asset, yes.
Stephen Scouten, Sandler O’Neill
Okay, great. And then on the M&A, John, you mentioned that you guys are spending some more time on non-bank versus bank acquisitions. Can you give us an idea of what the breadth of those opportunities or even the types of things that you are looking at as it relates to non-bank acquisitions?
