Nitin Mhatre: Sure, I can take the first part for the — we’re seeing commercial coming on about 60 basis points higher than prior quarter with a six handle and then residential we’re seeing come on, again, about 50 basis points higher with a four handle.
Brett Brbovic: And I think you were looking for the yield on the Firestone an upstart portfolios. Firestone was around had a seven handle and then upstart was around 11.
Chris O’Connell: Okay. Got it. And if you guys could provide an update on how long those are expected to take before run-off?
Nitin Mhatre: Yes. We have that in the schedule of the back, Chris. It’s roughly about six quarters to eight quarters.
Chris O’Connell: Okay. Great. And then what is the security portfolio? What is the monthly or quarterly cash flows coming off there?
Nitin Mhatre: Could you repeat the question Chris?
Chris O’Connell: The monthly cash flow after the securities portfolio.
Stephen Finocchio: Yes. This is Stephen, it’s about $20 million in the last quarter and per month, right, during the last quarter.
Chris O’Connell: Okay. Great. And then just on the fee guide down, it seems to be driven by the tax credit investment line. Does that — how does that line look going forward? Is it mostly flat or is there going to be some movement in ’23?
Brett Brbovic: So with tax credits that can be lumpy, depending on when they close during the year or even during the quarter, depends on how much you’re amortizing in over that period. So it can be lumpy. And we believe we really the —
Chris O’Connell: Do like material plan change in that number, just kind of starting point?
Nitin Mhatre: Yes, then I think the important point Chris there. I think that’s where you’re going is, the core fee business actually goes up modestly. I think net of tax adjustments. I think it non-interest income goes down as we’ve outlined in the outlook, but the core business and core fee income actually goes up pretty broad based stents.
Stephen Finocchio: And we really do love our tax credit business and we’re looking to expand in 2023 as well.
Operator: We have a follow-up from Laurie Hunsicker from Compass Point, Laurie, please go ahead.
Laurie Hunsicker: Yes. Hi. Thanks, good morning. Just wanted to circle back on this one item, because I know you normally don’t disclose it. SBA unguaranteed, what is that balance and how are you guys thinking about growing that? Thanks for taking my follow-up.
Sean Gray: Laurie. Hey, it’s Sean. So it was down about 1% year-over-year. The balances are $261 million and US for charge-offs to 67 bps fourth quarter.
Laurie Hunsicker: Got it. And how are you thinking about growing that book going forward. Are you going to kind of hold the line? How do you think about that?
Brett Brbovic: I think we’re holding the line. I think this year is indicative of what we’ll continue to do going into next year. And like I said it was down about 1%.
Operator: Nothing further in the queue. So I’ll hand back to the management team for concluding remarks.
Nitin Mhatre: Thank you, Adam and thank you all for joining us today on our call and for your interest and investment in Berkshire. Have a great day and be well. Adam, you can close the call now.
Operator: Thank you, this concludes today’s call. Thank you very much for your attendance. You may now disconnect your lines.
