Li Yu: We — I don’t think we need any further all those, because our regulatory approval is for $150 million.
Andrew Terrell: Yes.
Li Yu: More so it is our directors — Board of Directors determination offering to use our cash flow again.
Andrew Terrell: Okay. Understood. I appreciate it. Congrats on your quarter.
Li Yu: Thank you.
Operator: Our next question comes from Gary Tenner with D.A. Davidson. Go ahead.
Gary Tenner: Thanks. Good morning. Excuse me. On that buyback question, I don’t think I saw it in the press release, I apologize if I missed it, but of the $281 million purchased in the or repurchased in the second quarter, what was the average purchase price?
Edward Czajka: It was around $55 and just to bring everyone up to speed currently, we have repurchased about 501,000 shares for about $28 million through today or through yesterday so.
Gary Tenner: Okay. Thank you, Ed. And then just any additional color you can provide. You made the comment that the deposit migration has slowed. Your non-interest-bearing deposits are, I think, been around 16% or so, 15 — yeah, 16% of period end balances. Do you have any level of confidence that you can maintain that level or is there still some movement that you think pushes that number lower?
Li Yu: For the month of June, that migration — that level of non-interest-bearing deposits has been reasonably stable, okay? What I was mentioning about the other cost increases, because we do have a large TCD portfolio, okay? And then the portfolio that will be mature and reprice or replace the total amount is a little bit over $1.2 billion in the third quarter with the cost of replacement probably between 1% to 1.25% higher interest cost that is assumed that we only have one bond in the July quarter. So likely that cost will increase in the third quarter, but relatively mild, okay? And if we do have one rate increase in the third quarter, I think, the effect to the net interest margin will be quite mild.
Gary Tenner: Thank you for that. And since you mentioned the amount of time deposits that are going to mature in the third quarter, could you give us the number for the fourth quarter as well?
Li Yu: Yeah. We have not prepared for that yet, I guess.
Edward Czajka: Next quarter, Gary.
Gary Tenner: All right, guys. Thank you.
Edward Czajka: Sure.
Operator: [Operator Instructions] Our next question comes from David Feaster with Raymond James. Go ahead.
David Feaster: Hey. Good morning, everybody.
Edward Czajka: Good morning, David.
Li Yu: Hi.
David Feaster: Maybe just touching on the loan side. In the press release, you talked about higher rates impacting demand, but in the past, you have also — you have been pretty conservative. I am just curious how much of the slowdown in growth do you think truly is slowing demand versus less of an appetite for credit? And then just kind of what’s the pulse of your borrowers across your footprint, where are you seeing good risk adjusted returns at this point and where are new loan yields coming in?
Li Yu: Well, okay. Well, just — Wellington, you add something then I add to you, whatever comment is.
Wellington Chen: All right. Hello, David. This is Wellington.
David Feaster: Hi
Wellington Chen: I think that, I mean, you hit the nail on that. It’s both demand and as well as the appetite, okay.
David Feaster: Okay. And so where are you still seeing good opportunities today? I mean, are there any markets or segments that are still look good from your standpoint?
