Carl Carlson: I would expect the securities portfolio in the $150 million to $200 million range at the end of the day at PCSB bank. We like to kind of keep the securities portfolio in the 8% to 12% of total assets from a liquidity management standpoint. And then — and so any balance of that becomes additional liquidity. So they had a relatively low loan-to-deposit ratio and when I say relative, look for Northeast Bank, 8% to 7% is a relatively low number. And of course, ours is significantly higher than that when — because of the Eastern Funding business that we have, the equipment finance business we have. So the ability for us to fund that a little bit less instead of relying on wholesale borrowings is beneficial at the end of the day.
Chris O’Connell: Yeah. Got it. And yeah, on the fee side, the past couple of quarters, you guys have had some nice levels on the loan participations. It sounds like the overall growth outlook still remains pretty solid from here. Do you think that — are you still seeing kind of a market for that, do you think that that’s going to continue at a relatively solid pace compared to the first half of 2022?
Paul Perrault: Well, yeah, it might look more like the first half of 2022. As we went toward year-end, the amount of activity that we had seemed to have accelerated a bit and there were some relatively large transactions in there, which have rolled over a little bit now and even though I pointed out earlier, the pipelines are still strong. It would not surprise me as we roll into the year, we get back into a normal or more normal for us sort of pace where growth might be 6%, 7% pace, if you will, by the end of the year. But we will try to beat that.
Chris O’Connell: Yeah. Okay. And then I know you guys touched on the office portfolio, in general things kind of continue to migrate positively on the credit front this quarter. But is — I mean, is there any other pockets or areas of concern that you are seeing as you look through the portfolio and I know you just came out of the PCSB board meetings. Anything that they are seeing in their markets of concern?
Paul Perrault: No. All sectors are performing very well within the portfolio, and I would point out that, the office portfolio at the legacy Brookline Bancorp is not that big, it’s pretty big, but it’s not enormous. It’s $650 million or so and it’s well spread out. It’s not like it’s a bunch of stuff in the financial district in Boston. A lot of that stuff is in the leafy suburbs of Metro Boston and across Rhode Island. So it is very, very well diversified and has performed exceptionally well.
Chris O’Connell: All right. Got it. I appreciate the time. Thanks for taking my questions.
Paul Perrault: Thanks, Chris.
Operator: Thank you, Mr. O’Connell. That concludes the question-and-answer session. I will now pass the line back to Paul Perrault for any additional remarks.
Paul Perrault: Thank you, Alexis, and thank you all for joining us today. And we look forward to talking with you again next quarter. Good day.
Operator: That concludes the conference call. Thank you for your participation. You may now disconnect your lines.
