Jim Herbert: Erika, it’s Jim, I might add for a little bit of — of little historical perspective. The long-term as Mike said the long-term checking if you go back many years even when we bought the bank back but even before that, tends to be in the 50%, 55% range and the CDs range between sort of 10% and 20% of total. It is a mix issue and in between that is the money market. What rate they land, it’s hard to predict. But the mix is actually the driver. We got it was an abnormal mix when checking went up into the high 60s.
Erika Najarian: Got it. And it’s good to hear from you, Jim.
Operator: I’ll take our next question from Chris McGratty with kB W. Please go ahead.
Chris McGratty: Just a quick modeling question. Most of the margin questions, I think have been addressed. The bolly run rate any, any help there. And I know you lowered the tax rate a bit. But any help. I know there’s some seasonality quarter to quarter but kind of a full year comment on bullying coming. Great. Thanks.
Olga Tsokova: Hi, Chris. So in the fourth quarter, we have a couple of items that contributed to increase from the third quarter of the year. One, we had a benefit from the life insurance policy which we realized in the fourth quarter. And also, we had a positive impact for mark-to-market on some of our insurance contracts. And just to remind you, I think we brought it up on the last spot the loss goals that we use to offset some of the increases and changes from our benefit costs. So those two components contributed to the change from the third quarter. And yes, if you think about the run rate for the quarter, removing those two items, I would say still within 2022 fill in the quarter.
Chris McGratty: Okay, thanks.
Operator: We’ll take our next question from Terry McEvoy with Stephens. Please go ahead.
Terry McEvoy: I was wondering if you could add some more color on the new offices and in 2023, certain markets that you think present the best opportunities and strategically is the near-term focus on deposits, and/or kind of capturing some of the market disruption that Jim mentioned earlier on the call.
Mike Roffler: Terry, the answer is yes. We are capturing a lot in terms of the disruption that Jim mentioned. But we’re focused on relationships and with relationships comes the full breadth of what we offer. We probably expect maybe around six offices over the next year or so existing footprint. And then as Mike mentioned in his remarks, we’re delighted to have expanded into Bellevue, Seattle. And we expect good things out of that region.
Terry McEvoy: One last question, checking account attrition in 2022, did that differ at all from that? I think it’s at 1% longer term average you guys put in the investor presentation?
Mike Roffler: No, it did not.
Terry McEvoy: That’s good to hear. Thanks for taking my questions.
Operator: We’ll take the next question from Andrew Liesch with Piper Sandler. Please go ahead.
Andrew Liesch: Just a question on credit. Everything else been asked and answered. Are you seeing anything concerning out there? And when you do expect credit return, what areas of the portfolio would you expect to see the most stressed?
Mike Selfridge: Andrew, it’s Mike, we feel very good about our positioning right now in credit. We don’t expect any issues going forward. So the answer is, it’s business as usual, from our perspective. And Mike noted the credit quality in his remarks and look at the three basis points of net charge offs over a 23-year period. So sticking to our knitting, being cautious, selective focusing on relationships.
Andrew Liesch: Great. You cleared everything else. Thanks so much.
Operator: And the next question comes from David Smith with Autonomous. Please go ahead.
