Rob Holmes: Brett, let me just — let me make one quick comment that I think it’s really important, and I’ll let Matt answer your question specifically. We are totally agnostic to where the client is on our balance sheet, whether they’re in DDA account or they move to AUM to manage liquidity because that they may be rolling out of the DDA, but they’re staying on our platform. They’re not leaving the firm. And so, we’re here to solve client needs and over time will benefit and the client will do. But I think it’s really, really important to point out that nobody is leaving the firm. They’re just locating to different products and services. Sorry, Matt, go ahead.
Matt Scurlock: No. Thanks for calling that out. Mean we’re obviously quite pleased to have a suite of cash management products and infrastructure to support that client rotation at this point. Our view embedded in the guidance is that the rotation does start to slow. We’re modeling commercial noninterest-bearing to end just south of 15% as we exit the year. We, of course, think it’s extremely important to balance any sort of near-term impact on financial performance that — we’re in the middle of a — in fact, we’re in the middle of a multiyear transformation of the deposit base. So things that we go into a pretty extreme links every quarter to call out for you guys, like 12% growth in year-over-year, gross payment revenue or the fact that our treasury pipelines in the third quarter, up 50% relative to the second quarter. Those are specifically to give you an indication. Brett, how today’s activities are going to drive financial outcomes in ’24 and ’25.
Operator: Thank you. We’ll now take our next question from Stephen Scouten from Piper Sandler. Stephen, your line is now open. Please go ahead.
Stephen Scouten: I guess one of the things I wanted to dig into was the new customer growth. I think you said it was maybe up 30% quarter-over-quarter, which is impressive. Can you give us a feel for where the customers are coming from? And maybe what segment of the bank more so is driving that customer growth if you had to point somewhere?
Rob Holmes: Yes. A lot of that is the treasury onboarding and 90% of that is done now digitally through our new Initio platform, which I take is market receptor leading, which is super simplistic way to onboard a commercial client. And the client journey is much improved and much more efficient. Really excited to have that up and running. That’s both for new and — new clients and also clients expand their relationships with us on the platform, which — that’s new to this quarter as well. I think it’s broad-based. It’s — we have new clients on the platform in capital markets, which has become increasingly busy. Capital solutions, treasury, private credit through our syndications desk. So, I think it’s very, very broad. But the predominant amount of the new clients is on to the treasury platform.
Where they’re coming from, it depends on the segment in which we’re discussing. The business banking client is generally coming from a different firm than the middle market or corporate client, so — or even sales and trading or our mortgage clients. But it’s very broad. It’s not in one segment or one product.
Stephen Scouten: Okay. Great. Very helpful. And then I appreciate the commentary about being somewhat agnostic about where the customer sits on the balance sheet. But obviously, that does present a pretty significant near-term profitability headwinds. So, I’m kind of curious, the 110 ROA target, in particular, is pretty — I don’t know if it directed the right word, but it’s going to take a lot of heavy lifting. So how do you get there near term in light of that specific headwind and that impacted profitability?
