<strong>John C. Asbury</strong> — <em>President and Ceo</em>

Certainly not, in the event that you listened, my remarks had been very very very carefully made. What exactly we are saying is I listed off quite a few that have been completed and there are more under way that we have a number of initiatives and. So our heart might be at this time is to actually get in front of this Truist. I feel like we’ve got the opportunity while we’re not engaged and a merger transaction conversion integration effort as I said. We have to make a run because of it. We have to knock down and acquire us near parity that is competitive we are able to in this screen of possibility.

That being said, the degree of discussion that is taking place on the market, the degree of inbound inquiries that people are getting does lead us to think that you will have possibilities once we decide that it is time. Its — we have been perhaps maybe not associated with mind-set we have conversations continuously https://www.speedyloan.net/reviews/cashcall that we would want to do anything this year, but. We will continue steadily to assess this in real-time. We consider the complete spectral range of possibilities in the M&A front, and I also will say that there’s a really real possibility you could see us active again as we get into 2021.

But also for now, everything we don’t want to do is always to delay or postpone strategically essential initiatives internally. And they’re all simply products, by the method, we hinted as of this. We will talk afterwards about — we’ve a stem to review that is stern of inside this company I will be applying — we have been applying. It is occurring now, robotic procedure automation. There are numerous of items that do price us some funds, honestly regarding the front end that could make the business, more cost-effective, more scalable more effective and provide top quality. Therefore this is actually the screen to get it done. In order that is our view.

William WallaceRaymond James — Analyst

Okay, many many thanks. And also this is merely a ticky-tack question, Rob. But are we completed with merger expenses, so when a fast follow-up, when should we come across the discontinued operations just do it?

Robert Michael GormanExecutive Vice President and Chief Financial Officer

Yes. Wen order I pointed out within my prepared remarks, yes, merger expenses are done and rebranding costs, you have done. Therefore we are essentially operating at a running go forward here — running cost base.

William WallaceRaymond James — Analyst

As well as on discontinued, same task?

Robert Michael GormanExecutive Vice President and Chief Financial Officer

William WallaceRaymond James — Analyst

Okay, great. Many Many Thanks. We’ll allow someone else now ask a question.

John C. AsburyPresident and Ceo

William P. CiminoSenior Vice President and Director of Investor Relations

Many Many Thanks, Wally, and Carl our company is prepared for the caller that is next.

Operator

Your question that is next comes the type of Brody Preston from Stephens, Inc. The line is currently open.

John C. AsburyPresident and Ceo

Brody PrestonStephens Inc — Analyst

Hi, good early morning everybody else. How will you be?

John C. AsburyPresident and Ceo

Brody PrestonStephens Inc — Analyst

I simply had a few, just clean-up questions, before We have into several of my other concerns. Therefore I guess simply following through to the CECL commentary, thus I guess simply the 20 foundation points to 25 foundation points, that could be about a $35 million money effect, someplace for the reason that range, is the fact that fair, Rob?

Robert Michael GormanExecutive Vice President and Chief Financial Officer

Yes, yes, that is about right Brody.

Brody PrestonStephens Inc — Analyst

Okay. After which i suppose, when I think of — as i believe concerning the book ratio continue, i realize that the customer guide is running down, but due to the fact obtained guide also operates down, i am let’s assume that that is carried at a — if we segment the buckets when it comes to loan loss book between origination and grab — originated and acquired, i am assuming that that obtained bucket is — the book ratio on that is a small bit greater and in order that runs down. Does that also we guess, enhance the loan loss book ratio going reduced as time passes?

Robert Michael GormanExecutive Vice President and Chief Financial Officer

Yes, I do not genuinely believe that’s likely to impact it that much when it comes to the obtained — the obtained guide, let’s say the nice obtained guide, that will be that which we’re placing the reserve at, that is just about in line with legacy Union’s reserving. And so I would not expect that that is going to be described as a motorist. There clearly was of course the PCB, the bought credit deteriorated. But that is maybe maybe not really a big quantity for us right here.

Brody PrestonStephens Inc — Analyst

Okay. After which regarding the share repurchases just comparing the pr announcements, it seems if you had the shares repurchased or the average price that you repurchased, that just for the fourth quarter like you bought back about $45 million worth of stock this quarter, just wondering?

Robert Michael GormanExecutive Vice President and Chief Financial Officer

Yes, i do believe as a whole it is like $36.91 I think was about $37.30 or so $37.40 since we started and the fourth quarter was.

Brody PrestonStephens Inc — Analyst

Okay. Great, thank you. And I also guess simply returning to the NIM guidance, you stated you kind of expect that to stabilize. In this 3.35% to 3.40percent for a core foundation is the fact that, is the fact that GAAP core NIM that you are leading to?