Operator: [Operator Instructions] The next question comes from Jon Arfstrom with RBC Capital Markets.
Jon Arfstrom: Dan, you don’t have to talk about how the insurance business impacts your efficiency ratio going forward. I think I’ve heard that about 20 times.
Dan Rollins: The numbers are in the deck for you this morning, John.
Jon Arfstrom: Yes, I appreciate that. Just had a couple of follow-up questions. One on C&I. I understand the big loan that you identified last quarter that moved out but the balances are still down a little bit. What’s going on in C&I? Is it the market? Is it you just…
Dan Rollins: There were 2 credits that we’ve talked about for the last couple of years that both got charged off and moved out. And then actually, Hank, talk about where we are production-wise.
Hank Holmes: Yes, John. I appreciate the question. And I would say, as I mentioned earlier, we have an active portfolio but it’s moderately active. We are managing the growth there, obviously, based on the funding outlook that we have. And so there are deals out there, it’s very competitive. We are obviously working through the deposit side as well. So any new credit or anything we’re looking at is going to have a liability associated with it as well. And we’re managing our growth. But I mean, the activity is there but I would say it’s down from the peak clearly. So let me just add to that a little bit. We do have plenty of capacity, too, with the relationship managers that we have and they continue to focus on the existing relationships to build on that. So going out and meeting new additional teams, we obviously, at this point, don’t see that as something that we would be active in but unless it presents itself in an area that we could grow in.
Jon Arfstrom: So other than it’s probably a little better outlook in that category, C&I.
Dan Rollins: Yes, I would want to brag on the team. We’ve got a great team. They’re producing business every day. The market certainly has pulled back and slowed down and people are asking more questions which is all healthy and good. But the markets that we serve are going to continue to give us opportunities. We had a great quarter for production down from where we’ve been and that’s why you didn’t see growth in the quarter. But I think the team is out there making it up every day.
Hank Holmes: And we’re able to get into some credits where the pricing may be better than it has been historically in terms are certainly that way as well.
Jon Arfstrom: Good to hear. Stephen asked a commercial segment question. So I’ll ask on energy as well. I mean it’s 5% of the company but it seems like it’s a pretty dynamic environment right now. What’s your appetite like there? And what are terms and pricing like in energy?
Dan Rollins: Terms and pricing are better.
Hank Holmes: Yes, really, I would say they are. If you’re willing to extend credit, you can get these terms in credit piece of terms and decent pricing. We’re active in alternatives and not as much energy service but in upstream. And certainly, we have an existing client base that we’re going to continue to build on. So I think there are opportunities there.
Jon Arfstrom: Last one. Any changes in your economic assumptions or overlays in your reserve this quarter? Or is it just largely the same as last quarter?
Dan Rollins: Valerie, I think it’s the same as the past.
Valerie Toalson: I mean there’s always a little bit of movement but I would say there’s nothing notable to call out on that.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to management for any closing remarks.
