The beta there was a little bit over 18%. And we’re not seeing dramatic movement, it’s probably going to be somewhere between 18% and 22%. It’s what I expect from that portfolio. Obviously, the government side will stayed at similar levels that we saw, or what I mean government public deposits in general, that we saw there in the quarter.
Kelly Motta: Got it. Thank you. I turn to the expenses and then step back. I appreciate the guidance of about $120 million of expenses? I understand you had some OREO gains this quarter, excluding that it looks like you would have been more around like $115 million so that implies a $5 million step up. Just in terms of the cadence do you think, in the next quarter or two, there’s going to be a build towards that one funny or should we anticipate with the moving parts you laid out in your prepared remarks, that we’re going to enter 2023 with 120 and kind of build on that number?
Aurelio Aleman: Well, you have — a large components what I mentioned on payroll taxes, all the all the thresholds are reset, we see immediate impact on that, on the first couple of quarters, that tapers down towards the end of the year as some of the limits are reached. So we do see lower impact on that one. But on the other hand, we do have federal technology projects going on that we’re trying to get to completion during the year, and that kind of compensate. That’s why the 121 20 it’s the number we’re expecting based on the immediate impact from that payroll implication. And we’ve also seen, because of the of the inflation components of some of the contract renewals, obviously, are yielding higher increases that we saw a couple of years ago in terms of a contract renewals.
So we’re starting to see that — we saw that in the last quarter, and we had several — and we are seeing that in the first quarter. So that’s why we feel that 120 should be like a benchmark on going — on the next couple of quarters.
Kelly Motta: Got it. I appreciate the color. I’ll step back.
Operator: The next question comes from the line of Alex Twerdahl with Piper Sandler. You may proceed.
Alex Twerdahl: Good morning, guys. Just going back to deposits quickly. Can you just remind us if there’s any seasonality that we should be thinking about over the next couple quarters, or if you have any line of sight on some deposit wins, maybe early in ’23, related to taxes or anything along those lines?
Aurelio Aleman: Well, you always have a little bit of movement at that season, by people using the money, but it’s never going to — it’s never been a significant component on the movement of deposits under bank — at the institution. So it wouldn’t — I wouldn’t say any seasonality, it’s going to drive a lot of movement over the year. It’s more of the other factors.
Alex Twerdahl: And then, with respect to the buyback, you get the $125 million, which I think is good until June, if I’m not mistaken. How are you thinking about using that today? Some banks are saying they’re seeing more uncertainty, and other banks are saying they’re getting back in the market. So I’m just curious how you’re thinking of things. And if we should expect additional commentary in April, which had been your cadence over the last two years for capital return?
