John C. Asbury — President and Ceo

Not, in the event that you listened, my remarks had been very very carefully made. Just what exactly we are saying is that people have actually a wide range of initiatives and I also listed down a number of which have been finished and there are many under means. So our heart might be at this time is always to really get in front of this Truist. When I stated, personally i think like offering the chance although we’re perhaps not involved and a merger deal transformation integration effort. We must produce a run for this. We have to knock away and acquire us near competitive parity as we could with this screen of possibility.

That being said, the degree of conversation that is happening around, the level of incoming inquiries that people are receiving does lead us to think that you will have possibilities once we decide that it is time. It really is — our company is perhaps not associated with the mind-set that people may wish to do just about anything in 2010, but we now have conversations continuously. We are going to continue steadily to assess this in real-time. We glance at the full spectral range of possibilities from the M&A front side, and I also will say that there’s a really real possibility you could see us active again as we get into 2021.

However for now, that which we usually do not desire to do would be to delay or postpone strategically important initiatives internally. And they’re all simply services and products, because of the real method, we hinted as of this. We are going to talk afterwards about — we now have a stem to stern overview of processes inside this company we are implementing — our company is implementing. It is occurring now, robotic procedure automation. There are certain things that do price us some cash, honestly regarding the end that is front could make the organization, more cost-effective, more scalable more effective and gives high quality. Therefore here is the screen to get it done. So is our view.

William Wallace — Raymond James — Analyst

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

Robert Michael Gorman — Executive Vice President and Chief Financial Officer

Yes. Wen order I pointed out in my own remarks that are prepared yes, merger costs are done and rebranding costs, you have done. Therefore we’re essentially operating at an running go ahead here — running cost base.

William Wallace — Raymond James — Analyst

As well as on discontinued, ditto?

Robert Michael Gorman — Executive Vice President and Chief Financial Officer

William Wallace — Raymond James — Analyst

Okay, great. Many Many Thanks. We’ll allow somebody else ask a concern now.

John C. Asbury — President and Ceo

William P. Cimino — Senior Vice President and Director of Investor Relations

Many Many Thanks, Wally, and Carl we’re prepared for the next caller, please.

Operator

Your next concern arises from the type of Brody Preston from Stephens, Inc. The line has become available.

John C. Asbury — President and Ceo

Brody Preston — Stephens Inc — Analyst

Hi, good early morning everybody else. Just just just How have you been?

John C. Asbury — President and Ceo

Brody Preston — Stephens Inc — Analyst

I recently had a couple of, simply clean-up questions, before We have into a number of my other concerns. Therefore I guess simply following through to the CECL commentary, therefore I guess simply the 20 basis points to 25 basis points, that could be of a $35 million money impact, someplace for the reason that range, is the fact that reasonable, Rob?

Robert Michael Gorman — Executive Vice President and Chief Financial Officer

Yes, yes, that is about right Brody.

Brody Preston — Stephens Inc — Analyst

Okay. Then i assume, when I consider — as i do believe concerning the reserve ratio continue, i am aware that the customer guide is running down, but whilst the obtained guide also runs down, i am let’s assume that that’s carried at a — if we segment the buckets for the loan loss book between origination and grab — originated and acquired, I’m assuming that that acquired bucket is — the book ratio on this is certainly a bit greater and in order that runs down. Does that also we guess, enhance the loan loss book ratio going reduced with time?

Robert Michael Gorman — Executive Vice President and Chief Financial Officer

Yes, I do not believe that’s planning to influence it that much when it comes to the acquired — the obtained guide, let’s imagine the great obtained guide, that is everything we’re placing the book at, that is just about in line with legacy Union’s reserving. And so I would not expect that that will be described as a motorist. There clearly was of course the PCB, the bought credit deteriorated. But that is perhaps not really a number that is big us here.

Brody Preston — Stephens Inc — Analyst

Okay. After which regarding the share repurchases just comparing the press 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 Gorman — Executive Vice President and Chief Financial Officer

Yes, i 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 money key was.

Brody Preston — Stephens Inc — Analyst

Okay. Great, thank you. And I also guess simply returning to the NIM guidance, you were said by you kind of expect that to support. In this 3.35% to 3.40percent on a core foundation is, is the fact that GAAP core NIM that you are directing to?