Todd Gipple: Yes, certainly over time, Brian, we’d still like to move the loan to deposit ratio down a little bit more. We’re not trying to do it aggressively. We made really good progress during this quarter. We probably want that number in the next year or two down in the 90% loan to deposit ratio range. And yes, the interesting thing is in spite of rates hanging in higher, local market competition has softened. I think because the banks are running more liquid and liquidity, you know, concerns of a year ago have kind of become a memory and everybody’s kind of comfortable with their new set of liquidity with less loan demand. That’s starting to impact other people’s perception of bidding up deposits. So, I saw a medium seven figure deposit that went out to the market, a bid from a municipality in our market to get price sub five year in the last week.
So, and that’s when the market, everybody’s working at the chance to buy. So I believe that that’s going to help us as we go forward.
Brian Martin: Got you. Okay. So longer term target kind of that 90% level is what you’d be eyeing as you move forward?
Todd Gipple: Yes.
Brian Martin: Yes. Okay. And then, just on the — the buyback for a moment just because, you know, conversations on M&A are not percolating sounds like, but the, you know, given that you’re going to be at that 9% level relatively quickly, I guess, is it something you could think about the share of purchases in the back half of the year or just kind of the, you know, maybe the kind of change in rate outlook here kind of higher for longer with some incremental credit concerns. Is that something that weighs on potential share repurchase activity as you kind of look in the second half of the year?
Larry Helling: Yes, I think it is possible in the second half of the year if things, if the environment kind of looks like it does today, I think that’s probably be appropriate because you’re right. You know, we did into the nines here on TCE fairly quickly here, given expected continued good earnings and the securitization that we’re doing and all those things give us some capacity. So yes, back half of the year, I think we’ll have the capacity to do it, but it’ll certainly depend on how we feel about the environment from an economic standpoint. And again, there’s really nothing showing up in the portfolio today that gives us cause. It doesn’t mean that we’ll be the same way six months from now. But certainly today, if the variables all come in the same, that’s certainly possible.
Brian Martin: Got you. Okay. And then maybe just one for Todd, just on the margin, Todd, I know you talked about the securitization maybe, you know, giving a little bit of benefit to the margin. Can you talk — can you just remind us in terms of how much impact you saw from the recent securitization? So maybe just if that parallels not what you think may occur in, you know, the one in September here, the one in third quarter?
Todd Gippel: Sure, Brian. I think last time we got about a three basis point margin left from the securitization previously. I would expect something like that. It again will depend on how quickly we’re able to take advantage of that liquidity and driving down cost of funding. But we’re optimistic about that. Again, Larry gave you a data point on some money, bid money with a four handle now versus a five. So, three basis points might be a good place to start. We’ll likely have some more guidance for all of you on that in July when we talk about Q2.
Brian Martin: Got you. And then just one more housekeeping, Todd, it’s small. Just on the — you talked about the accretion a bit earlier, being a little bit down this quarter, just that hasn’t flowed a little bit. But kind of in that general zip code is kind of where may shake out here in the coming quarters?
Todd Gippel: Yes, Brian, that zip code is an accurate way to put it. It was 350 some million in Q1 and scheduled run rate is around that 300 mark for the rest of this year, 300 per quarter, so very, very consistent.
Brian Martin: Got you. Okay. Perfect. That’s all I had. Thanks for taking the questions.
Todd Gippel: Thanks, Brian.
Larry Helling: Thanks, Brian.
Operator: And this concludes our question and answer session. I would now like to turn the call back over to Mr. Larry Helling for any closing remarks.
Larry Helling: I would like to thank all of you for joining our call today. We appreciate your interest in our company. Have a great day. We look forward to connecting with you in the coming months. Thanks.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect your lines.
