Tim Laney: No. Thank you for asking. We have weekly deep assessments of our projects all related to 2UniFi, and I’m pleased to report that we are tracking on time against more than 90% of the work streams there. We still believe we’ll be in friends and family testing in 2024. And just given what we’ve seen, even here in the first 6 months of this year in terms of bank client behavior, we think 2UniFi is going to be incredibly important in the future of banking. So I really want to applaud our team that’s leading and working 2UniFi because they’re driving toward the kind of projected deliverables and the time frames for those deliverables that we expected. And we’re increasingly optimistic about the strategy and what it can — what it can do to serve small- and medium-sized businesses across the country.
Robert Terrell: And then I think we’ve also discussed a little bit in the past the ability to kind of leverage some of what you’re building there and the work the team is doing into the core bank in terms of improving workflows or efficiency. Is that something we could also see if 2UniFi is moving to friends and family in ’24, could we see potential for increase or improved efficiency at the core bank as a result of that as well?
Tim Laney: Yes. I seriously doubt it. I mean, because we actually see the potential impact on the core to be much greater than just a revision of processes. And we’re working with a challenger core that’s much more fluid, flexible and low-cost than what you would get from a traditional provider. And the opportunity after we fully lift with it and believe in it to shift our core bank to that platform could be a game changer. So I don’t see that happening in ’24 because we’re going to live with what we’ve built for a while before we make such a big bet.
Robert Terrell: Understood. If I could ask just one more modeling question. Aldis, on the — the release called out the Cambr-related acquisition expenses, I think $500,000 of transaction and $600,000 of intangible amortization. Is the $500,000 was called out a recurring item? Or is that a more kind of onetime transitory expense?
Aldis Birkans: No, that’s onetime transitory expense. And obviously, the $600,000 intangible amortization, that is unfortunately with us, but given how the accounting works. But the $500,000 is onetime.
Operator: We’ll now take our next question from Andrew Liesch with Piper Sandler.
Andrew Liesch: A question on the Cambr revenue, that $1.2 million that came on. When you guys closed the deal at the beginning of April, was that in line with your expectations? Or was that a little high or a little low or just right?
Aldis Birkans: Well, for the amount of, call it, excess deposits that we didn’t keep that were flowing through there, that’s exactly in line where we’re expecting.
Tim Laney: Is it fair to add on to say — I know we don’t want to jump into a lot of guidance here, but we haven’t come close to fully optimizing the kind of revenue opportunity that will come out of Cambr.
Aldis Birkans: Yes, what Tim is alluding to is in terms of other opportunities where we see a potential fee and program growth opportunities, that is not part of this. This is just kind of taking over the program and hitting our financials the way we expected, and that is hitting the way we’re expecting it. But we do believe there’s ability to continue to expand the capabilities and our revenues.
Andrew Liesch: Got it. So it’s safe to assume that maybe this $1.2 million number is already captured in the guidance at least for the back half of this year?
Aldis Birkans: That is — yes.
