Before I open it up for your questions, I would also take this opportunity as I know a number of our colleagues happened to listen to the call to thank all of them for their hard work and engagement on driving our success over the course of this year. So with that, let’s open it up for your questions. Thank you.
Operator
Thank you, sir. The question and answer session will begin at this time. If you are using a speaker phone please pick up you handset before pressing any numbers. If you have a question, please press * then 1 on your phone. If you wish to withdraw your question, press * then 2. Your question will be taken in the order that it is received. Please stand by for your first question, sir. The first question comes from Emlen Harmon of Jefferies. Please go ahead.
Emlen Harmon – Jefferies
Good morning, guys. Good to hear that you are that positive on the loan growth outlook for next year. I think, one thing I’ve noticed is that the organic growth has been kind of flattish the last couple of quarters. Can you give us a sense just kind of which businesses you feel like are going to start picking up performance to drive that loan growth as we head into next year? And just kind of any weights you might have seen in the fourth quarter where I think the loan growth, the loans were effectively flat on an organic basis quarter over quarter?
Mark Sander – Senior Executive Vice President & Chief Operating Officer
Sure. This is Mark. And I guess I would just phrase it a little bit differently. We saw more modest growth in the last two quarters but we still saw growth. When we look at the fourth quarter specifically in the $45 million of growth that we look at organically, we knew when we bought Popular they had this portfolio of healthcare loans that we’re going to pay down. They paid down a little sooner than we thought they were going to, the refinance with HUD. So we did have some organic growth in the fourth quarter, but our growth rate in Q4 was a little slower than it was all year long.
But again, I would say a couple of things. One, a quarter does not a trend make and two, I would say that to specifically answer your question, I think we’re going to see growth in all of our areas. We’ve got four teams, business banking, middle market, commercial real estate, specialty banking and we expect all four of them to grow this year.
I would think that commercial real estate would have the lower growth rate. Again, we still have, it’s a competitive market out there, so we’re seeing a lot of properties still refinance out. So I would say our commercial real estate would be modest growth, but our C&I growth, we’re looking for some nice growth there. I think we will see our mortgage volumes increase a little bit this year, you’ll see us put some leasing volume on the books. And so a combination of, it’s nice to have, we’ve got a number of niche businesses, healthcare and ABL that have done nicely for us. Our core C&I I think will have a nice solid year and it’s nice to have a few different levers to pull and in a year where [inaudible] will probably be a little softer given where crop prices are, it’s nice to have things like mortgage and healthcare and leasing to kind of pick up the slack. So long answer to your question, I would say that’s why we feel confident that we can meet or exceed the growth rates that we had in ’14.
Emlen Harmon – Jefferies
Got it, that’s helpful. Thank you very much, and then just a second one, if we look at, if we think about charge-offs kind of year over year in 2015, 2014 there was still kind of a low 50s on an annual basis. 2015 the year that you guys get to normalize charge-offs and how do you think about, what do you think is your normalized charge-off rate?
