Graeme Smethurst: Okay, that’s helpful. And then I guess just, Drake, I think you mentioned some lift out opportunities and maybe some market expansion opportunities, what sort of markets, are you interested in today and what would be the size of the scale of the level of team you would want to bring on.
Drake Mills: Yes. It’s kind of open. As you know we’re highly interested in Texas invested in Texas and continue to see significant growth. I think 90% of our loan growth this past quarter was Texas. So there are Texas opportunities that we will continue to look at and, you know, it – the size of these teams aren’t going to be something to the point to where we look at many people. We really look at the deposit portfolio and also their relationships on the loan side, do they fit with us? Is it C&I? That’s what we look for and in these cases, I would think, if I was an investor and I am, that it’s much easier to look at a $1 billion team that has less site deposits and C&I loans and be able to manage through that stood M&A deal. So we’ve got a couple of opportunities that might add up to that, but again we’re still in negotiation process.
Graeme Smethurst: Yes. All my other questions have been asked. Thanks, guys, nice quarter.
Operator: [Operator Instructions] Our next question is a follow up from Matt from Stevens. Matt, your line is open.
Matt Olney: Yes, thanks for taking the follow-up. I want to make sure I understand. These new disclosures around repricing the loan and securities portfolio on Slide 15 looks like you’re expecting the cash flows some securities portfolio around, call it $290 million over the next year. I guess the first question is, can we just assume that these maturities will continue to help fund that organic loan growth during this time?
Drake Mills: Yes, Matt, that is exactly what our expectation is. We, as the deposit side of the institution. It’s where the battle is and we’re basically governing our loan growth and lot of excellent opportunities in our footprint. We don’t see that necessarily slowing down. So any opportunity we have to redeploy 2% instrument into a 8%, 9%, 10% loan. We’re going to take advantage of that and that’s our plans at this point. Go ahead.
Wally Wallace: Matt, you bring up a good point. I think it’s important to remember the asset side of the NIM equation. As we continue to have deposit pricing pressures, we have been extraordinarily focused on the pricing of new loans and we’re pretty proud at how disciplined our lenders have been new and renewed loan yields are coming in the mid-eights as Lance mentioned in his prepared remarks. And obviously as Drake mentioned as securities roll-off in the twos, that’s a pretty attractive redeployment opportunity. So if you look at the fourth quarter and next year, we have a sizable amount of principal coming out of the securities portfolio and principal coming out of the loan portfolio that will give us the opportunity to reprice on an average basis the price coming off is in the fours and it’s coming back on in the eights. So that’s what gives us pretty good comfort and our commentary around the margin moving forward.
Matt Olney: Yes, good points, Wally, thanks, I appreciate that. And I want to make sure I understand the disclosures on the loan repricing side, I think we’re all trying to appreciate for Origin and other banks, the level of the fixed asset repricing we should anticipate going forward and looking at Slide 15. I see there’s about $3.4 billion of loans are pricing over the next year, and on the right-hand part of that slide, it looks like there’s about $3.3 billion of loans that are floating. So I guess the question is trying to appreciate kind of how much of those loans that are repricing, but are not floating. Is it just the $3.4 billion minus $3.3 billion? So call it $100 million of fixed rate loans set to reprice over the next year, is that the right way to look at that?
Wally Wallace: I’ll make it, I’ll make it easier for you, Matt. Over the next five quarters we’ve got $500 million to $600 million in principal coming out of securities and loan portfolio.
Matt Olney: $500 million to $600 million and that includes loans and securities.
Wally Wallace: Yes.
Matt Olney: Perfect. Okay, that’s what I’m looking for. I appreciate that, Wally, and everybody else, and thanks for your time.
Drake Mills: Thank you, Matt.
Operator: Thank you. This concludes the Q&A. Handing it back to Drake Mills for any final remarks.
Drake Mills: I want to thank everybody for the time today. I want to close with saying that I am extremely positive about the outlook for our company. When you look at – we are in the process of really getting the first year behind us with our BTH transaction, what a wonderful group of people that we brought on, what they bring to us in East Texas Dallas-Fort Worth has been extremely valuable, we appreciate the process we’ve gone through that we’ve been very successful with that. Our geography, strong economies, attractive demographics, our team, I’ve never been more proud of the experience the cohesive, you know, work that we have, just a true love for each other that we worked through, our credit profile’s strong, client selection is really good, we’re focused on yields, our teams are doing extremely well, deposit base, rural deposits continue to show their value, we’re deepening relationships on every side of each one of our markets, the opportunities we have in our geography and the opportunities we have for expansion continued to impress me, so I appreciate very much the investments you have, the time today and we’re open for questions at any time.
Appreciate the relationships and thank you for being on the call.
Operator: This concludes today’s earnings call. Thank you. Have a great day.
