And so we are — I think it’s pretty even throughout our footprint about the opportunities we’re seeing. A lot of that is in some form of commercial real estate. And within that, we’re being cautious. On the hiring side, we’ve had opportunities ranging from credit administration to infill to opportunistic hires and there are people that fit our model. So when you think about the different banks that have failed, we’re looking to bring in people that already understand how we do things that can benefit growth within our model, but also bring us new things, but on the edges, meaning not changing dramatically our lending appetite for our strategic push around that. Does that answer your question, David?
David Feaster: Yeah, no, that’s terrific. Thanks for all the color.
Tani Girton: Hey, Dave, can I go back to — I think I left out loans on my last description. That 10 basis points also includes an assumption of an increase of roughly 7 basis points on the loan portfolio with the embedded repricing and also assuming a 25 basis point increase at the Fed.
David Feaster: Okay. That’s helpful. Thank you.
Operator: Our next question is from Andrew Terrell with Stephens. Please go ahead.
Andrew Terrell: Good morning, Tim. Good morning, Tani.
Tim Myers: Good morning, Andrew.
Andrew Terrell: Tani, just to go back to that last point on the 10 basis point pick-up on the margin, can you talk about the underlying assumptions that might be in that commentary in terms of incremental deposit cost pressure?
Tani Girton: So what that includes is the lift to 89 basis points that we disclosed in earnings in the release and the presentation as of July 18. It doesn’t include anything else because like I said, that’s the big wildcard. It’s really tough to assess right now because while we think that the repricing on the deposit portfolio is going to slow down because we had so much catch up to do during the quarter, they’re still — we’re still having those conversations and we’re still pricing kind of at levels where we’ve been pricing, there hasn’t been a lot of pressure to take it up higher than that. But then you get another 25 basis points, my initial thought is the next 25 basis points won’t be as impactful as all of that catch up. And since we’ve caught up to where Fed funds are today, it might not come in as strong, but it’s really, really hard to gauge.
Andrew Terrell: Yep, understood. No, I appreciate that. If I could drill down the deposit front specifically, I appreciate the disclosure for the 89 basis points quarter-to-date in the third quarter. I guess can you give us a sense on how that compares to where total deposit costs ended the quarter or what the June deposit costs was on average? Just trying to get a sense of really whether or not that the cost pressure is leveling-off throughout the third quarter or not?
Tani Girton: Yeah. So the second quarter total cost of deposits was 69 basis points If we just look at the month of June, that was 82 basis points. And if we look at July 1 through July 18, that was 89 basis points.
Andrew Terrell: Understood. Okay. So only a 7 basis point lift so far throughout the month of month of July versus the spot at the end of June?
Tim Myers: Yeah. We do think the pace of request has moderated. It hasn’t stopped, but as a number of you and your peers noted on our last call, Andrew, we had a lot of catch up to do. We talked about the fourth quarter where given the loan to deposit ratio, not being full — not full transparency into where rates were going to go, we’re slower to adjust our rates, then the events of early March happened. We’d already started that process, but there was a lot of catch-up to do in the quarter. So the quarter had a lot of that impact of that rapid catch-up. There’s certainly more request coming in, but the process has moderated in terms of people’s request.
