William Foshee: Yes, we think that loans can increase, the rate that new loans went on during September was 8.35%. So, we feel likely to be that or above. And like Tom said, we put in an extra incentive for loans in the fourth quarter. So, we expect loans to increase. I mean, fourth quarter is always our best quarter.
Thomas Broughton: Steve, what I can’t project is, what kind of payoffs we’re going to pay-up and then when I am looking Henry Abbott, if we’ve got — if a multifamily developer is looking at going to permanent financing with Fannie Mae, I mean, their rates going up. But it’s still less than what we’re charging them. I think they might pay 6 at Fannie, but they’re going to pay us — they’re paying us 0.25 — 8.5, so there is a — that is what I can’t predict, Steve.
Stephen Moss: Great. And then maybe just curious in terms of the underlying mix in the pipeline. Is that a little more weighted towards CRE and construction these days or is there a healthy C&I component, just kind of curious [Technical Difficulty] business mix is?.
Thomas Broughton: Yeah, I mean I think — I think it’s a mix. I mean, we’re seeing a lot of AD&C opportunities, but at the same time, we know we’ve got a limited bucket. So we’re being more selective on those and obviously trying to point our incentive and our folks to go after C&I opportunities and that is certainly what we’re looking for and striving for.
William Foshee: Yes. We think we need — we think we need to, kind of, stay on to that 100% AD&C exposure level that seems to be a bright line with — it might become more of a bright line with the regulators, we’re not sure but that was our though on that.
Stephen Moss: Okay. And then just in terms of thinking about the liquidity on balance sheet here. You guys achieved the goal of having $1 billion on balance sheet. Curious, let’s just say there is a healthy step-up in loan growth, and it is may be sustained for next quarter or two, are you willing to dip below that $1 billion of liquidity or kind of how do we think about funding loan growth, it will be more buy deposits or existing liquidity?
Thomas Broughton: Yeah. We’ve got $2 billion in cash is fair today and I guess we’ve got some short-term treasuries that are about $250 million, Bud?
William Foshee: We do.
Thomas Broughton: So, you say, we got [$250 million] (ph), we really think that of that we can put $1.5 billion probably into the loan bucket over time. Now, again, some of these municipal deposits are going. Again they’re going to spend it, politicians always find a way to spend money as you know. So, it’ll burn a hole in their pocket a bit. Then it will take a couple years to mark some of it off and we will replace it by the end with other — with other deposits, but right now we feel good about where we are — we just again are actively looking for the right. We’re still being careful on loans. I mean, we’re not really talking to — we’re trying to talk to the people we’ve always done business with rather than somebody that just walked in the door.
Stephen Moss: Got it. One last one for me here, just on the reserve ratio, you guys have built it up for a number of quarters, this quarter kind of flat. Just curious, was this kind of as high as it can go in terms of what — maybe the auditors are comfortable with or is there any — are you guys just more comfortable with credit and hence the reserve ratio is not quite enough of as much.
