Tim Coffey: Okay. Okay. And then, sorry if I missed this, I might have already been asked, but do you have any sense of where your non-interest-bearing deposits as a percentage of total deposits might exit this year at?
David Morris: I think our non-interest-bearing deposits regard. I think the run-off has happened for us. I mean we still have some customers who want to go, everybody wants once their DDAs to become interest, but when you are a business that’s kind of hard to do because you need to have the cash flow and we are still a bank that require — follows Reg D on all the interest-bearing stuff. So we still count six transactions. So I think it’s going to be relatively the same.
Tim Coffey: Okay. Okay. Great. Yeah. All right. Those are my questions. Thank you very much.
Operator: Thank you. Our next question is coming from Ben Gerlinger with Hovde Group. Please go ahead.
Ben Gerlinger: Okay. You will have to
David Morris: Hi, Ben.
Ben Gerlinger: Oh! Good morning. I guess . I apologize just if it’s belaboring the point on expenses, but kind of that gives puts and takes here, is it fair to say once you have the hires excluding gateway into the fold, something around 16 per quarter as a good run rate throughout the rest of the year, so 32.64 total on the year or am I thinking about it incorrectly?
David Morris: Total expenses should be in the 16.2 range something like that, okay.
Ben Gerlinger: Okay. Yeah. That’s fair. Okay. I had pretty close. I am sorry. It’s just a lot of puts and takes, so forgive me on that. And then kind of just more diligence perspective, just sort of curiosity, do you have any other crypto related clients either lending or deposits?
David Morris: Well, we only have the two. The one is active. The other one is in CDs. So we don’t worry about it, okay.
Ben Gerlinger: Yeah. No.
David Morris: If we have their Series B funds, okay. So we don’t worry about that so much.
Ben Gerlinger: Got you. And then my last question is kind of more of a philosophical a 10,000-foot view. You just said that lending demand has come down and overall customer deposit rates have continued to go up. Is there any source of new deposit kind of initiatives that could be used rather than going to market at a high CD rate? I am just — I know you are not going to have as much loan demand to match again, so just curious if there’s different avenues of funding outside of CD or broker deposits. .
David Morris: Well, we hired Gary. One of the things he’s going to do is take over the New York regions and we have a lot of interesting thoughts on different things that we could try. So that’s won’t really see much of that probably until the third quarter or fourth quarter of this year, but we are going to implement a lot of things in New York that may be slightly different than what we do here in California. At least I think here in California, we are a completely a relationship bank and once you contact all your relationships you only grow as your relationships grow. So we could bought — bring in additional relationship officers to help grow faster here in California and so forth also. But that would be adding to the expense side and/or we would have to reallocate headcount to do such, okay.
Ben Gerlinger: Got you. So kind of sit tight. If there’s a result, it’s more so latter six months of the year
David Morris: Yeah.
Ben Gerlinger: if there’s anything this year.
David Morris: Yeah.
Ben Gerlinger: But if there is expenses probably ramp?
David Morris: Yeah. We have things in our strategic plan that we are looking at, but we are not ready to announce any of those things at this time. So there are some things that we are planning to do that could really help on the deposit side. And one of them
