Jared Wolff: First of all, we have a really, really good warehouse team that does a fantastic job of kind of managing relationships and managing kind of quality of credits. And so, they’re very selective in who we’re going to lend to and how we’re going to manage it. And so we’ve been fortunate that things for us have gone smoothly despite kind of the rundown and kind of that industry generally. Let me tackle the deposit piece first. We have a good amount of deposits with that business. Those deposits are very stable, they’re institutional depositors who — they operate through warehouse but not necessarily on the origination side, sometimes they’re on the buy side, they’re buying loans that have already been funded. So in that way, it’s true C&I.
And they’re kind of sitting there with cash buying loans as needed and we’re helping to fund that. So there’s — the deposit flows have been very stable and as warehouse balances have come down, warehouse as a business, a higher percentage of it is self-funded. And so we monitor that very closely, but it’s pretty stable. In terms of where the balances are going to flow out, I’m trying to pull up the most recent numbers. And Lynn, you may have them in front of you have kind of where we think warehouse will fall out. I tell you, I don’t know like whether it’s going to go down more. At the end of the fourth quarter it was $600 million, $603 million. I don’t know — yes, go ahead.
Lynn Hopkins: I think maybe just — Yes, maybe just to add, I mean, we expect the warehouse to continue to pull back. I think the decline was mostly in line with maybe what we observed across the entire market. I think as we look forward, I think that decrease is expected to moderate given where rates have gone. So it may be that it comes down somewhat, but not at the levels that we observed I think in the fourth quarter. And I think maybe the averages will pan out to be about the same. So I think it’s less of a headwind as we look forward and we’ve obviously built up the book in other places.
Jared Wolff: Yes, I think to that point, Kelly, if I can just add. We certainly feel like we’ve done a good job of diversifying our portfolio outside of the concentration warehouse that we before and continue to grow earnings through that. And so we don’t see warehouse getting way back up even as rates come back down, but our team has done a good job of staying within a band. And so we’ve always said like up or down $100 million, warehouse was kind of the band. As it shrunk, maybe that’s too big a band now, but we’re going to be, I don’t know, between $600 million and $650 million probably. It’s hard to peg it exactly. But it’s our guessing today, I’d say that’s probably pretty close.
Kelly Motta: I appreciate all the color on both sides. That’s very helpful. Last question from me, a bit nitpicky, but I saw customer service fees are down quarter-over-quarter from where they’ve been running the past couple of quarters. Wondering if that’s activity driven, just less customer activity or if there’s anything structural in — I don’t know if that’s positive service charges and maybe some change in the way you’re charging there? Just interested in any color that would be helpful on a go forward basis.
