Paul Johnson: Thanks for that, Barry. Just a few more questions. I was wondering if you can, what is the update on the PLP being transferred into the bank? Or basically, what’s the status with that? I mean is there going to be a need to reapply for anything? Any sort of renewal process that needs to take place and I guess how you’re currently working around that?
Barry Sloane: Yes. It’s in motion. And the employees are now in the bank. The loans are still being made generally out of NSBF, but we’ve begun to get approvals in the bank. We have funded 7(a) loans in the bank, but they’re done GP versus PLP. We anticipate that transitioning over in the very near future.
Paul Johnson: Got it. Okay. Thanks for that. And then I’m just sort of wondering, it might be nice to know, and if you don’t have and you can’t share at the time, that’s okay. But I’ll ask, do you guys have any sort of stats you could share as far as service utilization of clients, customers that you guys have? What are, I guess, sort of some of the comments of crossovers opportunity of services you might have to offer between your borrowers and clients for other parts of your company?
Barry Sloane: Not at this time. It’s something that we will look to report. The deck is now 40 pages-plus. And I will say that, that has been a greater challenge historically, which is one of the reasons why acquiring the bank and rolling out the Newtek Advantage is going to enable us to have business owners go to their dashboard, their business portal, which being the Newtek Advantage. Oh, gee, I didn’t know I can get insurance for you all. I didn’t know I could store my documents with you. Oh, I didn’t know I can get this payment processing information. Wow, you’ve got your own PLS system. So that data will become more readily available, and we’ll report that. And obviously, where historically, we haven’t been able to acquire deposits when we make loans.
We’ll now be able to do that. So a lot of things are there in the future, and we’ll be able to do that. So we appreciate the question, and it’s one of the reasons for our being to be the one company for a business to be able to do more things than just one thing with us. So we feel pretty good about that.
Paul Johnson: Sure. Last question, I leave there. Just wondering maybe to get your thoughts and you touched on some of the things, obviously, through your remarks. Just I guess how are things progressing now that the merger is closed? I mean do you feel things are on track? Do you think things are ahead of schedule? What are your, — or I guess, your confidence in the projections you guys provided in terms of like efficiency ratios? And would you expect, I guess, provide any sort of incremental update there as far as your projections throughout the quarter?
Barry Sloane: Yes. I do think things like efficiency ratio, we’ll be out there projecting — and not projecting, but coming up with those numbers. Obviously, at the moment, you got a lot of things moving around. Like you just brought up, for example, the PLP status, right? So we had some income in the first quarter that might go to NSBF that would normally be in the bank. So I think in the second quarter and the third quarter, you’ll get a better sense of income and expense being put together. We obviously do have Reg W policy and issues that we’ll be dealing with as well, but we’ll be able to report that. Because I think when you think about our business model, brokerless, branchless, BDOs and bankers and the capital that we’ve got, we will be able to deliver really attractive efficiency ratios going forward.
