Charles Parcher: Well, I would tell you, everything starts pretty much with a spin at the move up to seven and working up from there. I would tell you new production probably in that — if you’re doing a three-year or maybe even five, some of our rate is between 7.25 and 7.75. We’re seeing some people choose with their thought process or rates sort of declining, probably in that SOFR-plus 2.75 range as far as on some floating — on the new floating originations from that side of it.
Manuel Navas: If I jump over to the deposit side. I understand that the brokered came on early in the quarter. You gave some nice stats of deposit costs ex-brokered. From here, what are your thoughts on just deposit cost increases from here?
Dennis Shaffer: Well, I think they’re going to stabilize a little bit, and again, I don’t think we’ll see the big NIM contraction that we had in the second quarter. They are under pressure, but we are holding on to more of our deposits today. I think, we’re just a little closer on that. We have no deposit rates starting with a five. And there’s a lot of banks that do have that, and we found that our highest rate right now is 4.5. We found as we’ve gotten a little bit closer that before we were trying to hold it in the 3s, we were seeing some deposit runoff in the first couple of months of the year. So we got a little bit more aggressive. Right now, we’re at the 4.5. We’re not seeing — we’re meeting every other week with our deposits.
We’re not seeing that runoff. So we feel that we do have this strong core deposit franchise. We do feel that our customers are pretty loyal. We’ve never chased the rate shopper before. We’ve gone out and advertised the highest rate in social media or in the newspapers, that’s not our customer. Our customer is coming to us and they’re asking what alternatives they have. And we’re telling them, “Hey, we got 4.5 month CD special, seven-month CD special.” And they are taking some of that money from some of the lower interest-bearing accounts and noninterest-bearing accounts and putting that money to use, but they’re not leaving to beat some of our competitors that are paying 5.25, 5.5. So we feel we just have to stay close in that — in the game.
So it depends on what the competitors are doing. But we do feel there is value to this corporate deposit franchise that we have and which helps us maintain some of those customers.
Manuel Navas: I appreciate that. In fees, you said you’re keeping — kept leases this quarter. Do you feel like there’s going to be an extra backlog of lease sales next quarter?
Dennis Shaffer: No. No, probably not. We’ll probably — because if what happens as rates move, it makes it harder to sell those loans because being on sale, that decreases. So it makes it harder. So we’re probably not going to go back and try to capture some of those, just going forward. We’ll just keep those additional loans kind of on the balance sheet. Their interest rate yields are good on those. So I think we just pick it back — pick that back up here this quarter.
Manuel Navas: Okay. I appreciate. Is there like I just a ballpark fee run rate then?
Richard Dutton: Gosh, I don’t know. I’m thinking about that. I mean, I guess I would add to what Dennis said. I mean, we had some personnel changes at the leasing company. So as we integrate those guys in, that was part of maybe the slowdown in sales for the second quarter. I think, we’ve budgeted what the sales — I’m trying to back into a dean number for you. I don’t — it’s probably dangerous for you to do that. Let me think about it. I’ll get back to all of you guys, how about that?
