Mark Fitzgibbon – Sandal O’Neill and Partners
OK, and then secondly, I wondered if you could share with us your thoughts on your capital ratios, obviously you’ve had good growth as well. Do you envision needing to raise capital in 2015?
Glenn I. MacInnes – Chief Financial Officer
No, we feel good about where we are, we’re in excess. I mean we have a slide, we’re weighing the back of the deck on page 50 that shows where we are versus capital but even by own internal targets we’re in excess of capital by a couple hundred million so we feel good about our structure right now.
Mark Fitzgibbon – Sandal O’Neill and Partners
OK, and then lastly my question is on sort of commercial lending. We’ve been hearing a lot about tight spreads in that space and I notice that your commercial loan yields actually rose a little bit this quarter. I wondered if you could tell us what was driving that.
Joseph J. Savage – President
Mark this is Joe, our yields in the commercial bank, I think it’s the Biz Bank may have gone up a little bit but overall in the commercial bank they were down a little bit. I think the story there would be that we’re delighted that we’re holding the line with respect to yields and spreads and Jim made the comment earlier, this is a lot of discipline in the organization regarding how we price, and getting ray rod and ANP has cooperated. I hate to have you think that things are going to get better on the yields and spreads. I think you might want to jump in.
Glenn I. MacInnes – Chief Financial Officer
Yeah, Mark you may have missed my comments but I highlighted there was about a million dollars in the quarter over quarter increase which is probably wiped three basis points in the loan yield for total book. Three basis points I would say on the loan yield and probably a point and a half on that. Some of that will always happen every quarter but I think that would just spike out quarter over quarter as well.
Glenn I. MacInnes – Chief Financial Officer
Yeah I did miss that. What was that, prepayment?
Glenn I. MacInnes – Chief Financial Officer
No in the quarter we had a million dollars income that came in on nonaccrual loans so a million dollars on the loan portfolio is worth about three basis points and then if you always nim you’re probably at a point and a half somewhere here or there.
Joseph J. Savage – President
Yeah and Mark this is Joe again, I think the story with respect to yields would be, we talked to all our people, they think pricing is stabilizing a little bit and that’s good news for us and you know we held on pretty well with respect to spread business and we think that’s a probably a good way to look at it. The challenge that we face of course is the stuff that’s rolling and is at these current markets rates and when we have a roll loss that puts some pressure on yields and spreads but we managed it pretty well as you noted.
Mark Fitzgibbon – Sandal O’Neill and Partners
Great, thank you.
