The expectation is the margin may creep up a couple of basis points to flat, but the expectation is that we’ll be able to expand net interest income on a go-forward basis. Obviously, deposit balances will make a difference and kind of how — what the outcome is there and their ability to support continued loan growth because if we move from a little over 1% deposit base to a 5% borrowing, that could be expensive. So, that’s one the caveats as we have to kind of look and manage the deposit balances. There’s obviously migration — continued migration into higher cost deposits that will impact the overall cost. And obviously, the swap of the yield curve matters as well. So, there are some, I’ll call it, some components that could affect the outcome, but our expectation is that NII will expand moving forward.
Steve Moss: Appreciate that. And then, in terms of the insurance business here and maybe just both insurance and employee benefits. I realized — I think I heard there was time issues for the insurance revenues this quarter. Just — I assume it’s still a hard market and just any update you can give on revenue growth there. And it’s been a strong market for stocks and bonds and or more stocks and bonds, but nice pickup on employee benefits, just kind of thoughts there as long.
Dimitar Karaivanov: Sure. Mr. Steve. I’ll start with the insurance business. We continue to believe that both the organic expansion in terms of new clients and higher rates is going to be positive this year. And in addition, we do have a very good pipeline in terms of inorganic add-ons as well. So, as you think about the revenue growth in that business, we’ve grown at double digits over the past three years. We still think that kind of high single digit is probably achievable for this year. As the business is getting bigger, that double-digit number is continuing to increase as well. But the opportunities are strong. And we did have some what we consider to be just timing cutoffs and mismatches this quarter, which kind of muted a little bit of the revenue performance.
But the full year expectation for the business is still very positive. On the employee benefit side, we’ve been talking for years about adding a lot of new customers and a lot of new lives on the platform. That’s been the case. It’s just been muted for those couple of years because the asset values were too low. And you’re now seeing both those new units, if you will, and the asset values come together and we had a great quarter, and our expectation is that, that’s going to continue. We did acquire credit plan designs and we did not have much revenue in this quarter from that acquisition as well. So, there is some back end, second half of the year loaded revenue from the acquisition activities as well.
Operator: The next question comes from Christopher O’Connell with KBW. Please go ahead.
Christopher O’Connell: Just wanted to follow up on the fee discussion. I realize that markets are strong but wealth management, the uptick was pretty strong there as well as the BPaaS group there. Is that a good sustainable run rate on a go-forward basis?
Dimitar Karaivanov: Yes. I think, Chris, I mean, our wealth business is very much the same story as our employee benefits business. Folks have been really busy in adding more clients over the past couple of years. And again, that growth has been a little bit muted. So, if market value stays where they are, yes, that will be a very close-run rate for us for the rest of the year in that business. So, look, we’ve got four businesses. We always talk about our four businesses, that’s how we run the Company. If you think about our company is we’ve got four engines [indiscernible] [00:28:02], which is a couple of engines more than most. And right now, our wealth business and our employee benefit services business are ramping up, our insurance business, as we mentioned, around a little bit lower, but we expect it to ramp up over the rest of the year.
And our banking engine is a little bit sputtering on the interest income side, but the gas tank is full. And as we mentioned, if we do get some slowdown really in the mixing of the deposit base, that’s going to start contributing quite meaningfully. So, we feel pretty good about the organic and market value driven and inorganic growth across all of those four businesses for the year.
Christopher O’Connell: Great. And I apologize if I missed it, but did you guys say, how much the creative plan designs acquisition adds in terms of revenues?
Dimitar Karaivanov: It’s going to be somewhere between $3 million and $4 million per year.
Christopher O’Connell: Great. And you mentioned a couple of times, I think, in the prepared remarks, the inorganic acquisition opportunities. Can you just talk about where you’re seeing the greatest opportunities on the fees this side? And then a little bit about what you’re seeing and how the market progressed in terms of the traditional bank M&A side?
Dimitar Karaivanov: Sure. So, we’re pretty active in terms of what we would consider to be kind of roll-up acquisitions, and those have been predominantly in our insurance business over the past couple of years, I think we’re down about 11% in the past three years. So, as you can imagine, there’s a three to four to five kind of books of businesses that we’re tucking in, and that’s across various geographies for us where we’re present. So that pipeline remains just as strong as it was last year, and I fully expect that we’ll be doing another three or four or five tuck-ins in the insurance business. Our employee benefits business, we’ve done I think, three tuck-ins so far this year. They vary in size with creative plan designs being the larger one.
