Chris McGratty: Okay. And then maybe, Jim, thoughts on just capital return once you get through the integration? Any thoughts on buyback later in the year?
Jim Ryan: Yeah. Great, great question. And certainly a topic of conversation around here. I think you’re right. I think we’re focused on getting through the integration of CapStar, kind of getting a better read on what we think the balance of the year looks like. And then as we get to the back half of the year, I think that could be something that’s a serious part of our conversation. Unchecked capital grows pretty quickly. And so I think there’ll be opportunities to think about capital a little differently than we have the last couple of years.
Chris McGratty: Okay. And then maybe final one on a lot of discussion from your peers about derisking. You guys don’t have the concentrations. Is there anything in the portfolio that might be being considered to accelerate, just move on and kind of derisk while you could?
Jim Ryan: From a high level, from my perspective, there’s nothing that we need to do different in our portfolio management. Obviously, it’s a constant source of conversation around optimization. But usually it means slowing things down, turning things up, than it is about, moving assets off the balance sheet. So while there’s always ongoing portfolio management discipline around that, on the margin, we’ll continue to have conversations around asset classes. We think we can get the best return for our capital allocation, and we’ll make those decisions. But they’ll have a de minimis effect quarter in, quarter out.
Chris McGratty: Okay. Thanks, Jim.
Jim Ryan: Thanks.
Operator: Our next question comes from David Long from Raymond James. Your line is now open.
David Long: Good morning, everyone, and thanks for taking my question.
Jim Ryan: Good morning, David.
David Long: Wanted to talk about the non-performing loan line. You were up about 20% in the quarter. I think someone mentioned that maybe there was a few credits involved there, but specifically what’s what happened there in the non-performing loan line and to drive it up 20% in the quarter?
Mark Sander: David, it’s Mark. I think it’s just the natural ebb and flow of credit. It was three credits that drove it. The largest was a multifamily property that I’m not worried about, candidly, at all. I don’t think there’s risk of loss there. And then we had two C&I credits that were not related, not symptomatic of any broader concern. So just episodic three credits.
David Long: Got it. Thank you, Mark. And then operating expenses seemed very well managed in the quarter. I know you have CapStar coming on here. But ex-CapStar, what’s going on just with the core operating expenses? It seemed better than expected. Were there any — you highlighted a few items that we took out. Anything else in the quarter that was maybe non-recurring or expenses that maybe you missed out on this quarter?
JohnMoran: No, I wouldn’t characterize anything as non-recurring in there other than what we had called out separately. It was, as you know, sitting in Chicago, a milder winter. We moved less snow around this winter. That helped. I mean, there’s sort of six or seven good guys in there that I would just kind of caution, don’t take one Q and run rate it and add CapStar on. I think we have a little bit of lift here in the second quarter, and that’s reflected in the guidance.
David Long: Got it. Thanks, John. Thanks for taking my questions, guys.
JohnMoran: Thanks, David.
Operator: Thank you. There are no further questions. At this time, I’d now like to turn back the call to Jim Ryan for closing remarks.
End of Q&A:
Jim Ryan: Well, thank you, Ellie. As always, really appreciate your participation. The whole team’s going to be available all day today to take any questions you might have as follow-ups. Thank you so much.
Operator: This concludes Old National’s call. Once again, a replay along with the presentation slides will be available for 12 months on the Investor Relations page of Old National website, oldnational.com. A replay of the call will be also available by dialing 800-770-2030 with access code 399-2332. This replay will be available through May 7th. If anyone has additional questions, please contact Lynell Durchholz at 812-464-1366. Thank you for your participation in today’s conference call, and have a wonderful day.
