Q: Tom, I know you mentioned that deposit growth for you guys is usually a little weak in the first quarter, come on the heels of strong loan growth. I guess loan-deposit ratio’s up close to 100%. Can you talk a little bit about deposit initiatives you have got planned for the year? I know you got the corresponding banking piece but just how comfortable you are going over a 100 and kind of what that means to you guys?
William Foshee – CFO
Brad, it’s Bud. I think on the loan to deposit ratio we still feel comfortable in that 100% range. The corresponding fixed loans that have been stable source of funding. It is like it’s 200 million one day and 100 million the next. I mean that it’s grown overtime as we’ve had in corresponding banks. I think we are going down the road, I think we are going to come up with a limit on them. I don’t think the regulators would. I don’t think they want us to stay at that high percentage over a long period of time. But for now we feel very comfortable with that funding just that it has been very stable.
Thomas Broughton – President & CEO
Yes, we’ve had not pushback at all from regulators on where we are with that. So they feel very comfortable with where we are and we feel very comfortable with where we are and our people are incented to grow loans and deposits. So we know that overtime we have to grow for loan growth. Loans buy x dollars but deposits have to be the same. So it’s been more difficult, we focus more on loan growth last since the recession started just because that there were less loan opportunities and as the loan opportunities improve we will shift our focus back to more of a balanced approach to loans and deposits and we continue to track new deposits again. We are opening a lot of accounts and that’s what makes them feel good about where we are Brad.
Q: Absolutely, that’s helpful. And then just in terms of the acquisition, looks like you are going to close that fairly soon. Now you’ve gotten, you have been associated with them three or four months now. Anything changed in terms of kind of how you thinking about some of the parameters you gave at the time you announced that in terms of cost savings or other opportunities. I know you mentioned the closing of the Charleston office but anything else changed around those initial assumptions you guys talked about back in October?
Thomas Broughton – President & CEO
Not really. We still feel like the expense that would make the change, we really thought we would have a system converging sometime around April to mid-May that would be pushed into end of June. Could have a little more expense just people staying a little bit longer but the same cuts will be there. Now he’s got to ramp up his lending group to grow. I think that we’re forecasting five lenders and led five lenders in 2015 sell. I think that’s all in line with what, there might be a few more lenders than what we projected last year. But the staff cuts will still be there. A lot of that’s going, really their contribution to the bottom-line is going to be in 2016 if you factor in all the merger expenses and things of that nature.
Q: Got it. And then just a follow-up on Michael’s question on expenses. Sort of excluding Metro, would you, I mean it sound like with the investments in Charleston and other places that expense growth in ’15 would be sort of on par or similar to the last couple of years?
Thomas Broughton – President & CEO
Well we did was we are doing the budget. We took out the new expenses like Metro, Charleston, we looked at this, I would say, core non-interest expense year to year and that was a little over 4% increase. So we felt like we got, we felt like non-interest expense will be somewhere in that range exclusive of those new markets or new buyers.
Q:So you would expect non-interest expense growth in ’15 of kind of like a mid-single digit 4%, 5% excluding, that would be much lower than I guess what you have done over the last couple of years.
