Chris McGratty: But this is — Jim, this is the one you identified last quarter. This is your — the 10% is on this specific credit, right? There’s — what about the rest of Chicago?
Jim Eccher: The whole office portfolio.
Brad Adams: 5% of the portfolio is in office, and we have approaching — and this is aggregate across both downtown and suburban. We’ve got a 5.5% reserve on the entire portfolio.
Jim Eccher: On the entire office portfolio, over 10 on Chicago office.
Brad Adams: On downtown office.
Operator: Our next question is coming from Jeff Rulis with D.A. Davidson.
Jeff Rulis: Just wanted to check in on the — I think you covered kind of rate pretty well, but the deposit runoff, you alluded to that being pretty front-end loaded. I guess, how has that trended, I guess, later in the quarter and into the third quarter and expectations for balances really, not so much rate, but the funding balances on the deposit side.
Brad Adams: So, deposits have been more than stable for the better part of 1.5-month. So, half of the second quarter, the latter after the second quarter was entirely stable. The thing that I’d like people to leave with in terms of the character of this is that back when deposits were running in, in second half of 2020 through 2021, I wasn’t able to tell anybody what was happening. It was just kind of coming in over the top across a very granular base. And the same thing is happening on the outflow. It’s just coming off the top of a very granular base and it’s just a couple of hundred dollars here and there on every account. It’s not any big trend. It’s just kind of leakage and it kind of mirrors both the run-up.
And then it also is the mirror image or reverse image of what’s happening in consumer debt overall. So, it just feels like a liquidity burn. But nothing’s really changed in terms of what we’re doing. And we’re fortunate enough that we just have very few depositors that have more than 5 million in the bank. So, we’re just kind of a different duck in that regard.
Jeff Rulis: Got you. And then, if I could, do you have either specific numbers or just the general trend, looking for the monthly margin as you progress through the quarter? Obviously, you had some sort of puts and takes.
Brad Adams: Our margin is not doing much, Jeff. That’s what I’m trying to communicate is, is that first quarter given day count is kind of peak margin if nothing else changes on a balance sheet. The delta absent the debt payoff impact in the first quarter was purely unforecastable. I would have said flat. And in all realistic measures of anything, it is entirely stable. If we hadn’t sold the securities, we would have reported an up margin on the quarter.
Jeff Rulis: Got it. Okay. Pretty straightforward. I’ll step back. Thanks.
Operator: Thank you. Our next question is coming from David Long with Raymond James.
David Long: Just wanted to get a little more color on your appetite to hire and acquire more talent. You’ve got declining loan demand, but obviously some disruption in the market. So, how do you balance the opportunities in the market with — from a business perspective with the opportunities to bring on talent?
