Not necessarily, in the event that you listened, my commentary had been 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 must make a run because of it. We must knock down and obtain us near parity that is competitive we could with this window of possibility.
With that said, the degree of conversation that is happening on the market, the amount of incoming inquiries that individuals are getting does lead us to trust that you will have possibilities as soon as we decide that it is time. It really is — we are maybe perhaps not of this mind-set that people would like to do just about anything this season, but we now have conversations constantly. We will continue steadily to assess this in real-time. We glance at the complete spectral range of possibilities from the M&A front side, and I would state there is a very real possibility you could see us active again as we get into 2021.
But also for now, everything we don’t wish to do is always to defer or wait initiatives that are strategically important. Plus they are all simply services and products, because of the means, we hinted only at that. We will talk afterwards about — we now have a stem to stern writeup on procedures inside this company I will be applying — our company is applying. It is taking place now, robotic process automation. There are numerous of items that do price us some cash, honestly regarding the front end that will likely make the organization, more cost-effective, more scalable more effective and provide top quality. And thus this is actually the screen doing it. To make certain that is our view.
William Wallace — Raymond James — Analyst
Okay, many thanks. And also this is simply a ticky-tack question, Rob. But they are we through with merger expenses, and also as a follow-up that is quick whenever should we come across the discontinued operations proceed?
Robert Michael Gorman — Executive Vice President and Chief Financial Officer
Yes. In purchase I pointed out within my remarks that are prepared yes, merger expenses are done and rebranding costs, you have done. So we are fundamentally operating at an working go ahead here — running cost base.
William Wallace — Raymond James — Analyst
As well as on discontinued, same task?
Robert Michael Gorman — Executive Vice President and Chief Financial Officer
William Wallace — Raymond James — Analyst
Okay, great. Many Thanks. We’ll allow someone else ask a concern now.
John C. Asbury — President and Ceo
William P. Cimino — Senior Vice President and Director of Investor Relations
Many Many Many Thanks, Wally, and Carl we have been prepared for the caller that is next.
Operator
Your next concern originates from the type of Brody Preston from Stephens, Inc. The line has become open.
John C. Asbury — President and Ceo
Brody Preston — Stephens Inc — Analyst
Hi, good early early morning every person. Just How have you been?
John C. Asbury — President and Ceo
Brody Preston — Stephens Inc — Analyst
I simply had a couple of, simply clean-up concerns, cashcall anaheim before I have into a few of my other questions. And so I guess simply following through to the CECL commentary, thus I guess just the 20 foundation points to 25 basis points, that might be about a $35 million money effect, 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. After which i suppose, when I think of — as i believe in regards to the book ratio continue, i am aware that the buyer guide is running down, but since the obtained guide also runs off, i am let’s assume that which 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 reserve 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 in the long run?
Robert Michael Gorman — Executive Vice President and Chief Financial Officer
Yes, I do not believe that’s likely to influence it that much when it comes to the acquired — the obtained guide, suppose the nice acquired guide, which can be everything we’re putting the book at, that is just about in line with legacy Union’s reserving. Therefore I would not expect that that will be considered a motorist. There is certainly of course the PCB, the bought credit deteriorated. But that is maybe perhaps not a big quantity for us right here.
Brody Preston — Stephens Inc — Analyst
Okay. After which in the share repurchases just comparing the pr announcements, it appears to be 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 do believe as a whole it is like $36.91 since we began as well as the 4th quarter ended up being — i do believe had been about $37.30 or more $37.40.
Brody Preston — Stephens Inc — Analyst
Okay. Great, thank you. And I also guess simply returning to the NIM guidance, you stated you type of expect that to support. In this 3.35% to 3.40per cent on a core foundation is the fact that, is the fact that GAAP core NIM that you are leading to?
