Not necessarily, in the event that you listened, my reviews were very very carefully made. Just what exactly we are saying is that people have actually an amount of initiatives and I also listed down many which were finished and there are many more under means. So our heart might be at this time is always to actually get in front of this Truist. When I stated, personally i think like we have the chance although we’re perhaps not involved and a merger deal transformation integration work. We must create a run because of it. We must knock away and obtain us near parity that is competitive we could in this screen of possibility.
With that said, the level of conversation that is taking place on the market, the amount of incoming inquiries that individuals are getting does lead us to trust that you will see opportunities once we decide it’s time. It’s — our company is maybe maybe maybe not associated with mind-set we have conversations continuously that we would want to do anything this year, but. We are going to continue steadily to evaluate this in real-time. We glance at the complete spectral range of possibilities regarding the M&A front side, and I also would state that there surely is a tremendously real opportunity you could see us active again as we get into 2021.
But also for now, that which we don’t want to do would be to defer or wait initiatives that are strategically important. And they’re all simply services and services and products, because of the real method, we hinted as of this. We are going to talk cash call mortgage later on about — we have a stem to review that is stern of inside this company I will be applying — our company is applying. It is taking place now, robotic procedure automation. There are certain items that do price us some funds, honestly regarding the front end that can make the organization, better, more scalable more effective and supply high quality. And thus this is actually the screen to complete it. To ensure is our view.
William Wallace — Raymond James — Analyst
Okay, many thanks. And also this is simply a question that is ticky-tack Rob. But are we through with merger expenses, so that as a fast followup, whenever 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 prepared remarks, yes, merger expenses are done and rebranding costs, you have done. Therefore we are essentially operating at a working go ahead here — running expense 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 Many Thanks. We’ll let someone else now ask a question.
John C. Asbury — President and Ceo
William P. Cimino — Senior Vice President and Director of Investor Relations
Many Thanks, Wally, and Carl we have been prepared for the caller that is next.
Operator
Your next question arises from the type of Brody Preston from Stephens, Inc. The line is currently open.
John C. Asbury — President and Ceo
Brody Preston — Stephens Inc — Analyst
Hi, good early early morning everybody else. Exactly exactly How will you be?
John C. Asbury — President and Ceo
Brody Preston — Stephens Inc — Analyst
I simply had a couple of, just clean-up concerns, before We have into a number of my other questions. Thus I guess simply following through to the CECL commentary, and so I guess simply the 20 foundation points to 25 foundation points, that could be about a $35 million money effect, someplace in 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 assume, when I think of the reserve ratio moving forward, I understand that the consumer book is running off, but as the acquired book also runs off, I’m assuming that that’s carried at a — if we segment the buckets for the loan loss reserve between origination and acquire — originated and acquired, I’m assuming that that acquired bucket is — the reserve ratio on that is a little bit higher and so as that runs off as I think about. Does that also we guess, increase 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 in terms of the obtained — the obtained guide, let’s imagine the great obtained guide, which will be that which 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 considered a driver. There is certainly of course the PCB, the bought credit deteriorated. But that is maybe maybe not just a number that is big us right here.
Brody Preston — Stephens Inc — Analyst
Okay. After which from the share repurchases just comparing the press announcements, it seems as if you purchased straight back about $45 million worth of stock this quarter, simply wondering in the event that you had the shares repurchased or perhaps the typical cost you repurchased, that simply for the 4th quarter?
Robert Michael Gorman — Executive Vice President and Chief Financial Officer
Yes, i believe as a whole it is like $36.91 since we began in addition to 4th quarter had been — i do believe ended up being 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 were said by you kind of expect that to stabilize. In this 3.35% to 3.40% for a core foundation is the fact that, is the fact that GAAP core NIM that you are leading to?