Paul Perrault: Those loans were well underwritten. They’ve performed very well. The expectation is that, that will continue. And in terms of current loan-to-value, it’s a very difficult environment, because there have been so few trades, but it’s very hard to pinpoint what something is worth right now. There have been a few sort of spectacular crashes, of things that have been around here, a few buildings here and there. But for the most part, those weren’t traditional bank deals, are not in the right locations, and they might not have been well owned. So, I don’t expect that there will be, a lot of noise in those renewals.
Steve Moss: Okay. Great. Thank you very much for all the color. I appreciate it.
Paul Perrault: You’re welcome. Thank you.
Operator: Our next question comes from Laurie Hunsicker of Seaport Research Partners. Laurie, your line is now open. Please go ahead.
Laurie Hunsicker: Great. Hi, Thanks Paul and Carl.
Paul Perrault: Hi Laurie.
Carl Carlson: Hi Laurie.
Laurie Hunsicker: Just wanted to go back to commercial credit, please. So starting with your $14.8 million off the street that came over into non-accrual. Is that a Class A or Class B?
Paul Perrault: It’s probably considered Class B.
Laurie Hunsicker: Class B. Okay. And then did you have the vacancy on that?
Paul Perrault: I don’t have that in front of me. It’s not empty.
Laurie Hunsicker: Got it. Okay.
Paul Perrault: But, it is not quite enough.
Laurie Hunsicker: Okay, yes that’s true of most of Boston, right? And then you didn’t have a current debt service on that?
Paul Perrault: Again, I don’t have that in front of me. But it was not [LOP] yes.
Laurie Hunsicker: Okay. And then is there – do you have a specific reserve against that $14.8 million credit?
Paul Perrault: On that one, I don’t think so.
Laurie Hunsicker: Okay. Okay. And then the two commercial….
Paul Perrault: We only take a specific reserve. We only take a specific reserve when we’ve got a pretty serious situation, and this one is not quite in that category.
Laurie Hunsicker: Okay. Okay. That’s good. Your two commercial charge-offs, can you give us a little color as to what they were in the quarter?
Paul Perrault: Yes. Those – we had big reserves against both of them. These are things that have not been going well for quite some time. One is a medical enterprise and the other is a development enterprise. And in both cases, their demise was self-inflicted wounds. It was not a market driven thing, they were just not managed properly, and things fell apart. So, the good news is it wasn’t the market. The bad news, is that we still lost some money.
Laurie Hunsicker: So, they were both C&I credits.
Paul Perrault: Correct. Yes.
Laurie Hunsicker: Okay. Okay. And then just going back to office here, your $747 million book. Just hoping for a refresh on a couple of things. How much of that is lower risk medical?
Carl Carlson: I don’t have those numbers in front of me, Laurie. It’s not a big deal – that was not a big part of our portfolio in the office sense. Sometimes it stands up in the owner-occupied – it’s more in the owner-occupied side of things.
Laurie Hunsicker: Got you. Okay. And then can you just help us think about of your $747 million, how much is Class A versus B versus C?
Carl Carlson: We’re not big Class A lenders. So it’s a small amount.
Laurie Hunsicker: Okay. And then I know that most what you do is in the suburbs, but can you just help us think about how much of your exposure roughly is downtown Boston?
Carl Carlson: I think, we provided that in the deck.
