Nick Pi: Yeah. Tim, there’s a lot of things like ahead of us still, I believe, monitoring policies, rate increases or acuities and a lot of things like high interest cost or pulling back consumer spending or maybe a commercial investment, a lot of things going on there. So a lot of people talking about probably we are going to have a soft landing, but we really don’t know until what happens during the second half of this year. So we try to maintain a more like moderate risk posture at this time. So also a CRE crisis or something like that, everybody is expecting for that. Up to now, we are still okay. However, to be a conservative side, we try to allocate a little bit more on the queue side to cover the CECL limitations.
Tim Coffey: Sure. Okay. Makes sense. I appreciate that color. And then, Ed, do you have any — how should we think about margin going forward? Is June reflective of kind of what you would expect to see the rest of the quarter?
Edward Czajka: That’s a great question, Tim. Obviously, some of it is going to depend on what the Fed ends up doing at their upcoming meeting. So if we get a quarter point hike, I think, it would sustain and kind of hold the margin relatively flat for another month or so. Otherwise, I would see some further compression, I would say, probably, in the neighborhood of $440 million for Q3, somewhere around there.
Tim Coffey: Okay.
Li Yu: You very, very predicting that. There’s a leverage factor and how much can you deposit, how much you…
Edward Czajka: Yeah. Yeah. Obviously, yes. A lot of other factors too. Yeah.
Tim Coffey: Yeah. To the extent — you did speak of deposits during 2Q to the extent you did see some volatility, was the biggest downside volatility earlier in the quarter or was it spread out across quarter?
Edward Czajka: Volatility in terms of deposit pricing or balances or…
Tim Coffey: Balances.
Edward Czajka: I think a lot of that growth happened toward the end of the quarter on the deposit side.
Tim Coffey: Okay. Okay. And then this for Li, as you — you mentioned you have a very asset sensitive balance sheet, a lot of your loans repriced in a fairly short amount of time. To — I imagine the competition for those types of borrowers has gotten intense. Are you having to offer any concessions to retain those customers?
Li Yu: Yeah. We, obviously, that we have — I mean, in order to get the rate sensitive, certainly, holding rate customers it is challenged, especially. If you remember and I’d like to joke about a little bit that we know so much business, especially public business that for the fact, because difference is that we have been kind of the persistent in trying to follow our model and doing floating rate loans with the floor and the floor is for downside protection. What we are doing by that and I think that, I have mentioned many times before, many times we just have to get hit by the face, losing loans opportunity to our competitors, okay? But this is a role we choose. We choose to be — to match assets and liability better. So we just stick with that, okay?
