Brian Martin: Yeah. Okay. Understood. Okay. And then maybe just one, as far as what — the loans repricing, what level of loans do you guys have on a fixed rate basis that are repricing maybe over the next 12 to 18 months? Do you have some color on that? And just kind of what new origination yields are. Maybe that’s in the deck and I missed it. If I can look at that if I miss that.
Tom Bell: So, let’s – maybe come back to you.
Brian Martin: We can follow-up if you don’t have it, Tom.
Tom Bell: No, no. Maybe we can follow-up with you, but I mean it’s we’re asset sensitive. The loan mix is kind of 505-ish fixed floating, I would say that it’s the average life is three years, so a-third, a-third and a-third. But I guess, with Inland now it’s 42% fixed. And then it just really depends on, as Alberto mentioned, right, some of the Inland portfolio pays off, then that’s going to get re-priced or if it refinances. But we’re still primarily absent floating rate.
Alberto Paracchini: But just as a rule of thumb, Brian, to kind of — so that you can — as you think through this, if you take what Tom just said, if you 42% is fixed. I mean, these are not a 30-year or 15-year residential mortgages. These are essentially kind of like three and a half year assets. So just assume that 42% is effectively re-pricing over the course of a three and a half year life. And that kind of just gives you a sense of kind of how much of that fixed rate portfolio we’re going to get to see being re-priced on a yearly basis. I mean, it doesn’t deviate too far from that.
Brian Martin: Okay. That’s helpful. And just the last one was on the — on M&A, given with this one being done? I know it’s quick to turn the page. But just as far as what opportunities you’re seeing today, I know you talked about the inorganic opportunities that are out there. But how does the outlook look on the M&A side as far as, I guess, activity or just calls you guys are having today even if it seems like the merger of mass is obviously a little bit more difficult to get some things done today but – ?
Alberto Paracchini: Yes. I think we remain open to that. I think you hit the nail. I think you hit the nail on the head though, I think the channel, the math for transactions is challenging given the — for some folks that would be potential sellers the issue is just the amount of capital that remains after you factor in the interest rate marks, both on the loan portfolio and on the investment portfolio. That’s I mean, to be completely transparent, that’s the biggest impairment today.
Brian Martin: Okay. So all right. I appreciate you guys taking the questions. A nice quarter.
Alberto Paracchini: Thank you, Brian.
Tom Bell: Thanks, Brian.
Operator: Thank you for your questions today. I will now turn the call back to Mr. Alberto Paracchini for any closing remarks.
Alberto Paracchini: Yes. Thank you, operator, and thank you all for joining the call today and for your interest in Byline. And we look forward to speaking to you again in early 2024, and Happy Halloween to all of you. Thank you.
Operator: This concludes today’s call. Thank you very much for your attendance. You may now disconnect your lines.
