Barry Ray: No, entire. So, I will give the fixed rate. So, yes, what I was talking about earlier was specific to, I believe Damon asked specific to CRE. Entire fixed rate over the next 12 months, that’s about $250 million of fixed rate. And then we also have some adjustable rate that would be around $180 million.
Unidentified Analyst: Got it. Okay. And in the pickup on that, I mean what kind of lift are you getting like with the new origination yields are today?
Barry Ray: Yes. Our new origination yields for – are around 7.61, 7.50, 7.60. And so if you look at kind of some of those yields on those re-pricing probably in the high-4s to low-5s.
Chip Reeves: Yes. I would just add to that a little bit Brian that mid-7s on the new originations are where we are. So, that tends to be associated in that new relationships more often, not always, but more often. Renewal, our renewal rate is actually 8s, the low-8s. So, that’s sort of trends we are seeing in the commercial book of speaking too specific there.
Unidentified Analyst: Yes. Got it. Okay. And that’s helpful. And how about – Barry, you mentioned, I think the accretion number, I guess that should trend up a little bit next quarter. Is that how you think about it given the full quarter impact?
Barry Ray: Correct. Yes. We had about $229,000 a month of benefit, so for two months of that, so 450,000 about. So, I would say for next quarter, you would expect, call it, $250,000 more attributable to the make of Denver transaction.
Unidentified Analyst: Got it. Okay. Alright. And then maybe one – just one for Garry. On the – can you – I will kind of truck. I think in the past you have talked about the healthcare and the office portfolio. Can you just remind us just in terms of how big those portfolios are? And then just maybe what dollars of those are criticized or classified, just big picture?
Gary Sims: Yes. Sure Brian. I will – and I will clarify. Really where we have seen weakness in the portfolio has been in the office space and in the senior living more specifically, not really healthcare as much as senior living. So, I will start with office. Our non-owner occupied office is $166 million. That represents 3.8% of our portfolio. In terms of what we have seen in terms of deterioration in that portfolio getting to the numbers here, 28% of that portfolio is classified, 31% of it is criticized. So, $46 million is classified and then $51 million is criticized. So, that gives you an idea of what we see in the office portfolio. I will stop for a second, Brian. Makes sense?
Unidentified Analyst: Yes, that makes sense. I appreciate it. Yes.
Gary Sims: Okay. Good deal. On the senior living, we have $241 million in that portfolio. That represents 5.5% of the portfolio. In terms of the deterioration we have in that portfolio. Classified is 24% of that portfolio. So, $57.5 million of that portfolio is – rate is substandard or worse. And we don’t have any special mention credits in that portfolio. So, the criticized portion of that portfolio is the same as the classified portion of the portfolio.
Unidentified Analyst: Got it. And no migration in either – yes, and no migration this quarter in either of those portfolios to speak of?
Gary Sims: That’s correct. The portfolio in terms of migration, both those categories were fairly stable this quarter. Yes.
Unidentified Analyst: Got it. Okay. Perfect. And last one for me was, Barry, I think you mentioned some hair cut on the report [ph] on expenses, was that I don’t know if the number was a quarterly number, annual number, what was the impact on expenses related to Florida?
Barry Ray: Yes. In my comments, it was a quarterly number, Brian, it was around $700,000 versus the impact of Florida.
Unidentified Analyst: Okay. Got it. Okay. Perfect. Thank you guys for taking the questions.
Barry Ray: Thank you, Brian.
Operator: Thank you, Brian. There are no additional questions waiting at this time. [Operator Instructions] There are no additional questions waiting at this time. I would like to pass the conference over to the management team for any closing remarks.
Chip Reeves: Great. This is Chip. Thank you everyone for joining today. We believe it was a very solid start to the year. We look forward to joining you in 90 days to continue our journey together as we execute our calendar strategic plan. Thank you.
Operator: That concludes the MidWestOne Financial Group, Inc. first quarter 2024 earnings call. Thank you for your participation and enjoy the rest of your day.
