Feddie, I think it actually at one point peaked a little over to under to like 1.42% on an operating basis. And so, there’s some moving pieces there that we have to consider, right, like on the mortgage side that could improve as we continue to adjust there. But we’d also look to add on any other revenue generating lines of business we can, if we can get an immediate pickup to net NIE to assets. And so, with our noninterest side, our noninterest or complementary lines of business, we – those are going to add noninterest expense, obviously, but improve that net NIE to assets. So on the expense side, I think it will start creeping up a little bit at some point next year, but I think we can continue to improve that net NIE to assets a little bit.
And then at some point, we’re going to get to a place where mortgage will level off in the environment and you could see that improve, it’ll increase total expenses, but it’ll help us improve that net NIE to assets. So that’s where we’re really focused on that net NIE to assets. So, I hope that helps you kind of understand how we’re thinking about it.
Feddie Strickland: No, that’s very helpful. Just one last question for me. As you look at slow loan growth, do you think over the course of 2024, you could potentially look at reducing the level of brokered over time or place that with core deposits, maybe giving you a little bit of tailwind in the back of the year on some deposit costs, assuming we have a Fed pause?
Heath Fountain: Yeah, we definitely want to work on that mixture. And so that’s something as we look at between loan growth slowing and the cash flow off the loan portfolio and off the investment portfolio, opportunities to knock out some higher cost funding. Anything we do on the high end, we try to keep short as we can so that we can – that we have opportunities to pay that off. I guess, the other thing to think about that is, as Derek mentioned, we continue to look for opportunities to restructure. And, obviously, with incremental borrowing costs where they are, any kind of restructure that we could look at doing a likely candidate for the proceeds of that would be borrowing costs.
Feddie Strickland: Understood. Thanks for the color, guys.
Heath Fountain: All right. Thank you, Feddie.
Derek Shelnutt: Thank you.
Operator: Thank you. Your next question comes from David Bishop from the Hovde Group. Please go ahead.
David Bishop: Yeah, thank you. Good morning, gentlemen.
Heath Fountain: Good morning, Dave.
Derek Shelnutt: Good morning, Dave.
David Bishop: Hey, Derek, just curious, I saw the slide deck in terms of some of the future initiatives to drive profitability. I know on the long-term objectives, and maybe [financial standpoint] [ph], but getting the five complimentary lines of business to that $1 million in net income, is that going to be a function of just – for some of these just a volume to take advantage of scale in some of these segments? Just curious what ‘s the biggest driver to get you to, or what has to happen to get to this $1 million level?
Derek Shelnutt: Sure. So when you look at what we’re doing on the merchant side, on the insurance side, on the wealth side, those three lines of business are – those are more dependent on the referral network from the bank, and those lines of business are, what I would call, infant stage, at Colony. We’ve only really within the last quarter or two had the ability from our CRM and data perspective to get information out in front of our bankers. And going into the next few quarters, the ability to take that data and actually do proactive marketing with it. And so, I mentioned like our data warehouse and our API connection, so the ability to take our internal data and be able to use that to cross sell and to market to our current customers has really been more on a manual basis than automated basis.
