Steve Gardner: I don’t think it hasn’t changed materially. It’s — part of it is there is just not a lot of demand out there, and again, we are going to maintain our discipline around the pricing side. So I think it really gets back to the comment I made that I think that both business owners and real estate investors are all reassessing the current environment, because rates have impacts across the Board on cap rates for real estate, some of the expenses and inflation that’s going on and impacting whether it’s businesses or real estate operators from an expense side. I think that all of those dynamics have investors, business owners, real estate investors rethinking their outlook and so that’s tamping down on demand at least in our markets.
Gary Tenner: Okay. Great. And if I could ask one more, Ron, just to clarify your comments on the swaps a moment ago. So the roughly one-third of the swaps that mature here over the course of the fourth quarter only have about a 20% impact on the gains that you would be looking at or the benefit you would be looking at for 2024?
Ron Nicolas: That’s correct, Gary.
Gary Tenner: Okay. Thanks very much.
Steve Gardner: You are welcome. Operator, is there anyone else in the queue?
Operator: Yes. I have David Chiaverini with Wedbush Securities. Please go ahead.
David Chiaverini: Hi. Thanks. So I wanted to ask about credit quality. So slide 18 you have got the classified loans, and we saw an uptick there. I was curious for the loans that have reached maturity in the third quarter or over the past couple of quarters for that matter, how many are struggling to come up with additional equity, particularly for those borrowers that you would consider re-extending a loan or putting out a new loan. Can you talk about how borrowers are handling the new environment as their loans mature?
Steve Gardner: We haven’t seen any pressure from our book on maturities classifieds are just that uptick is just part of our regular review process in analyzing cash flows, no real impact that I can think of, David, from a maturity standpoint. Ron, is there anything that comes to your mind that from a maturity standpoint?
Ron Nicolas: No, Steve. No. No. I think you have got it correct. I mean you see the fluctuations to your point on the classified, I think, that’s just a normal or the typical fluctuations that we see. So, no, David, we — not heard or seen anything like that just yet.
Steve Gardner: And in general, yeah…
David Chiaverini: Okay.
Steve Gardner: I am sorry, I was just going to add that we have the slide in the deck on the loan portfolio maturity and we have a relatively low percentage of loans that mature over the next several quarters.
David Chiaverini: Right. So the ones that and grant, it’s a very small number, but the ones that are seeing maturities, you are not seeing those borrower’s kind of struggle or refinance to another lender?
Steve Gardner: No. We are — frankly, we are seeing the cash out of their accounts and paying us off or paying us down. On top of it, we are having — we have very proactive portfolio management. So we are reaching out to those clients nine months, six months before maturity, talking to them about what their plans are and how we are looking at the world. So I think it’s part of that proactive portfolio management that we benefit from as well.
David Chiaverini: Good to hear. Thanks very much.
Steve Gardner: Very good. Operator, is there anyone else in the queue? Well, thank you all. We appreciate you joining us today and that concludes today’s call.
Operator: This concludes our conference and thank you for attending today’s presentation. You may all now disconnect.
