We’re at around 47% or so at the end of the quarter. And we certainly have guided to that number probably continuing to trail down a little bit as we go through an environment where rates kind of stabilize at a higher level. So, not a direct answer to your question, but hopefully, that’s some helpful information.
Operator: The next question comes from the line of Michael Rose with Raymond James.
Michael Rose: Just wanted to dig into slide 7 a little bit. So, understanding that the growth is going to slow next year, but you’ve had some nice tailwind from mortgage. You kind of pointed that out in the slide there. Just wanted to see what the expectations are there? And then, can you just kind of talk about what specific areas you’re limiting CRE growth and what some of the headwinds are. Just looking for some of the puts and takes. And then, you mentioned as one of the tailwinds continued line utilization growth. But how much of that is going to be a function of maybe reducing some of those lines versus your lenders actually — your customer is actually drawn down just given the economic backdrop that we’re in? Thanks.
John Hairston: You can start with mortgage and I’ll get back to the rest.
Mike Achary: Yes. So on more mortgage, Mike, you can see that we’re up about $250 million or so this quarter. And really about two-thirds of that is really attributable to our onetime close product, again, on the mortgage loan side. We’ll have those kinds of impacts. In fact, they will probably increase a little bit related to that product in the first quarter and second quarter, and then really kind of begin to trail down. So, the components of our overall growth attributable to mortgage and that onetime product will be rather significant for the next quarter or two, and then again kind of trail off.
John Hairston: So for everything else, I’ll start with line utilization. I do not expect to see the overall line availability crash down because we’re taking down the limits. I mean, that’s really a customer-by-customer decision made as we approach renewal or whether there were any covenant issues. That really hadn’t been an issue so far, and I don’t think it’s going to be an issue in the future other than the occasional cat and dog situation occurs up. So, if you look at page 7 at the top right, you see kind of where we were pre-pandemic was a little over 48%. So, if the trend in €˜21 and €˜22 is probably a good one, I think it’s dependable. So, depending on the quarter, it may be between 50 and 150 basis points of line utilization increase without much that’s going to drive that back down less because sours just tremendously, which we don’t anticipate that happening.
So, we’ll still have a tailwind for the better part of probably three years at that current rate to get utilization back to where it was. So, that will be a tailwind. Our business banking and commercial banking sectors are likely to continue growing. And our middle market group will be tied to those accounts that typically bring their operating accounts with them. So, all what I’ll call the core business of the company that provides the opportunity to full-service relationships will continue to grow. And frankly, we’re directing much more attention to that because of the need for liquidity over the next couple of years to fund loan growth. The sectors that will be more of a push for the year will be those that don’t — off excess liquidity.
