Jeffrey Rulis: Okay. Thank you.
Peter Ho: Yeah. Take care.
Operator: One moment for our next question. Our next question comes from Andrew Liesch with Piper Sandler. Your line is open.
Andrew Liesch: Hey, good morning, everyone. Thanks for taking the questions here. Appreciate the margin thoughts here in the near term, Dean, but how should we be looking at it going into next year? I mean, is there a benefit that you think might happen from — if we do get another 25 basis point rate hike increase given the swaps you’ve added, how do you think the margin will trend here beyond the fourth quarter?
Dean Shigemura: Yes. If we do get another rate increase, where it’s — for right now, we’re neutral. Where we benefit is if the Fed is on hold and keeps rates higher for longer, that’s where you’ll see a margin expansion. With the hedges in place, we’ve, in effect, been able to neutralize the impact from the liability side.
Andrew Liesch: Got it. All right. That’s helpful there. And then on the securities loss trade in the quarter, just some details behind that. I guess how many securities did you sell? Any plan or reinvestment you can speak of and the earn back on that transaction? And then beyond that like any other plans to do any more loss trades similar to this one?
Dean Shigemura: We continue to look at the market conditions and if conditions are right, we may do more. But right now, we don’t have any plans to and don’t see any need to. Regarding the sale, it was a mix of corporates and munis and the payback period is about three years for that. And then what it did give us though is kind of a relief on the risk-weighted asset side. So it was a capital accretive transaction for us.
Andrew Liesch: Got it. All right. That is helpful. Thanks for taking the questions. I’ll step back.
Peter Ho: Take care.
Operator: [Operator Instructions] One moment for our next question. Our next question comes from Kelly Motta with KBW. Your line is open.
Kelly Motta: Hi. Good morning. Thanks so much for the question.
Peter Ho: Hi, Kelly.
Kelly Motta: Hi. So I’m looking at your deposit balances, it looks like there was some really nice growth in the savings accounts. I was wondering if you were running any promotions at all during the quarter that helped boost that line.
Peter Ho: We have been pretty aggressive in that particular space on the consumer side, Kelly. And we think there’s — we think that’s a spot where we can deliver good value to customers seeking a little more flexibility in their funding, but at the same time, getting a quality rate and that translates back to us at a rate that is maybe a little bit more palatable than some of the higher end TCD levels. So, yes, that’s a good space for us.
Kelly Motta: Got it. That’s helpful. And thank you so much for walking through so much color on the swaps. Just wondering with the $1.8 billion you put on this quarter, what the timing was during the quarter that you made those actions and just wondering if that margin guidance includes the full impact or if some of that benefit we’re seeing is the full quarter’s impact of that strategy put in place?
Dean Shigemura: Yes, Kelly, the swaps were put in place kind of throughout the quarter. So it wasn’t you know it was kind of using a new — quarter, average. And then the guidance does include that impact from — and benefit from that.
