Mike Grondhahl : Got it. Got it. That’s helpful. And maybe just the last question from me, the previous deposit service agreement, it was a 3% rate. Is there a kind of a back-of-the-envelope to think of the new deal with First Carolina and with Customers Bank, like is there a shortcut to that we can think about it on the outside?
Luvleen Sidhu : I’ll take it first. So, what we’ve said, Mike, is what we’re kind of standing by where for competitive reasons, we’re not going to provide the actual pricing, but we’re very pleased to be able to share that it is variable rate pricing. And given the rising rate environment and will continue to be elevated for some time now. So that is very helpful to us. And what we’ve shared and the only qualification we’ve provided is that you can expect it to be in excess of 100 basis points from that fixed-rate agreement that you referenced earlier.
Mike Grondhahl : Got it. Okay. Hey, thank you.
Luvleen Sidhu : Thanks Mike.
Operator: Your next question comes from the line of Brian Dobson with Chardan. Your line is now open.
Luvleen Sidhu : Hey, Brian.
Greg Pendy: Hi, it’s Greg Pendy in for Brian Dobson. Just can you remind us just on the student business there’s just a lot of €“ it seems to be changing day-by-day what their decisions are going to be? And also, I think the interest payments are poised to pick up. Is there any potential disruptions to your business on this student front with some of the changes that might be taking place?
Luvleen Sidhu : So, Greg, sorry, I didn’t fully understand which specific changes you’re referring to, but just in general?
Greg Pendy: Yeah. So, there’s the student loan forgiveness plan and then, in addition, I believe interest payment poised to pick back up.
Luvleen Sidhu : Thanks. So, for loan forgiveness, that actually, helps our business, because, students are just more confident to be able to take loans out. And so you kind of see that volume increase if anything. So that really doesn’t have, it’s a neutral to positive impact on our business. So, as long as they’re continuing to get loans and going to school that’s helpful to our business. The for disbursement number that you may have seen year-over-year did decline. And the reason for that is though, it’s more about that stimulus. As part of the stimulus in 2021, schools were also given something called care grants and to really help higher education students institutions navigate that pandemic time. And so, par disbursements have gone down a bit. But other than that, as it relates to sort of the political sort of environment that you are referring to, as it relates to student loans, that’s actually neutral to positive.
Greg Pendy: Okay. That’s helpful. Thanks a lot.
Luvleen Sidhu : Thank you.
Operator: Your next question comes from the line of Bill Dezellem with Tieton Capital. Your line is now open.
Bill Dezellem : Thank you.
Luvleen Sidhu : Hey, Bill.
Bill Dezellem : Good afternoon. A couple of questions. First of all, what led to the 11% increase in the higher ed, checking accounts in ’22?
Luvleen Sidhu : Yeah, Bill. So we’re constantly looking at, incremental sort of improvements or progress as it relates to customer for life strategy, which we spoke about and have been speaking about. And so, I wouldn’t say it’s one thing that led to it. It’s really a myriad of small little tweaks that we make constantly to really improve our marketing, our communication, user experience, et cetera, all of which we’re continuing to do and double downing on this year. So, I would just say it’s a myriad of various different tweaks and optimizations that we’ve done.
Bill Dezellem : And Luvleen, those tweaks and optimizations, do they tend to fall under the customer for life bucket or which I really think of almost as post-school or do they tend to more fall under the category of improving the students experience while in school?
