John Corbett: I think those two deals kind of caught everybody a little bit by surprise last week. In the short term, there are obvious headwinds. The economic uncertainty the interest rate markets on this deal math and then the regulatory approval process is just too long. So that’s the short term. But from a long-term standpoint, the logic is there. If we’ve got an inverted yield curve and there’s continued revenue pressures, and we’re starting to see Michael dispersion of multiples that could drive good accretion in M&A. But really, our guidance hasn’t changed. As we think about good partners for us. Ideally, we would like to partner with banks that are about 10% to one third of our size. Our preference geographically would be to double down in the great markets that we’re in. And if we ever look to expand into an area outside of our markets, we want it to be similar high-growth markets that we’re already in.
Michael Rose: Appreciate the color, John. Thanks everyone.
Operator: Your next question comes from the line of Brody Preston with UBS. Your line is open.
Broderick Preston: Hey good morning everyone. I was hoping to maybe just dig in a little bit more granular on the margin. I was wondering Steve, do you guys have any loan just because the loan yield — I know that it’s still kind of on track to kind of get into the range you outlined, but came up a little bit less than what I was looking for. And so is there any — I guess, within kind of the $9-plus billion unfunded commitment that you that you have, is there anything that’s like funding up that is maybe coming on at yields that were agreed to a year ago or something like that, that’s a bit below the market right now that’s kind of stopping that loan yields for moving towards the high end of the $575 million that you expect?
Stephen Young: It’s a good question. I think some of this has to do with the number of days in a quarter and all those kinds of things. If you think about the first quarter, for instance, a lot of the things that can drive some distortion maybe is just around like February a 28-day month and you have 360 that sort of make that yield a little higher. There’s things like that. I don’t think there’s anything back to what we forecasted last quarter and what we’re forecasting this quarter hasn’t changed for kind of the back half of the year. So I don’t think there’s anything that we’re seeing that kind of keeps us from being in that 550 to 575 range by the end of the year based on what we see. But some of that is — our models have repricing in them and loans that are adjusted all those that are maturing, those kinds of things.
But there’s nothing in there that I think is unusual or anything that the question you ask, I don’t have right off the top of my head. I don’t think there’s anything that’s really driving that.
Broderick Preston: Okay. Got it. And then I did also want to ask on the opposite side of the ledger, just the transaction and money market cost of deposits, they were up again, but they held in I think, quite a bit better than some of your peers. And so I was wondering kind of what the interest rate you’re paying on money market is for kind of negotiated rates for your business clients or just a broad kind of average rate? Like any detail you can give us there would be helpful.
