Chris Myers – President & Chief Executive Officer
Well, if you look at our reserve, we reported at 1.57% for the quarter, but what’s a little different from previous quarters is that we no longer have loss sharing on our San Joaquin Bank loans, so the actual, if the actual reserve and remember the San Joaquin Bank loans have, they’re accreted, they have accretion that’s related to them as well.
So that accretion somewhat is, the reserves already built into them, so if we took out those loans our reserve is about 1.62% for the fourth quarter and that’s what we’ve been reporting all the way along, so you saw it a little dip down in our reserve going down to 1.57% from the previous quarter which was, I don’t 5 or 10 basis points higher I think. I believe that it’s interesting it’s a very complicated process to determine our reserve and we’re getting more and more interface with our accounts on the stuff all the time how to handle this and all the metrics and information that goes into that.
So, it’s not straightforward by any means but it’s a very involved process, but all the different factors that go into that could affect our reserve, and one of the things that also affects our reserve is that we have a rolling 20 quarter loss, we look at losses on a rolling 20 quarter basis. And so in 2010 was the largest year for loan losses for us CVBF in our history, so quarter by quarter in 2015 those losses will rollout out of database and really inherently create a reason to almost lower our reserves because we don’t have that loan loss history. But I think that will be offset by other factors that go into this, so it’s hard to, I guess I am not giving a very good answer but it’s hard to project what’s going to happen, but I do think this that we would, there will sometime where we’re going to need to reserve again, I don’t know if I am going to see that in the next few quarters but I think it’s coming somewhere down in the line and that will be a good thing because that means we’re growing loan.
Julianna Balicka – KBW
Got it. Makes sense. Thank you very much.
Operator
Again, as a reminder if you’d like to participate in today’s Q&A, please press * then 1 on your phone, again that is * then 1 to ask a question. Again, we will just pause momentarily to [inaudible]. At this time there are no further questions, I would now like to turn the conference back over to Mr. Myers for any closing remarks. Sir?
Chris Myers – President & Chief Executive Officer
Well, thank you everyone for joining us on our call today and we appreciate your interest and look forward to speaking with you again in our first quarter 2015 earnings conference call in April. In the meantime feel free to contact me or Rich Thomas, if you have any further questions. Have a great day and thank you very much.
Operator
And we thank you sir for your time today and to the reset of the management team. The conference call has now concluded, again, we thank you all for attending today’s presentation. At this time, you may disconnect your lines. Thank you, and have a great day everyone.
