Wood Lay: All right. That’s helpful color. And maybe last for me. I know there was some seasonal noise to the deposit. But if I sort of strip out that $175 million, I mean you still had 8% deposit growth. Is the goal from here to match the loan growth with the deposit growth?
John McWhorter: It is. So if we’re guiding to $300 million or $400 million in loan growth, which is what we expect, the deposits are going to be about the same thing that we’ll manage around it that we can always address our wholesale funding to not get too terribly far ahead of ourselves. But a loan-to-deposit ratio and kind of that 94% to 98% is what you should probably expect us to run at for the rest of the year.
Operator: [Operator Instructions] Next question comes from Thomas Wendler with Stephens.
Tom Wendler: We saw some build in excess liquidity towards the end of the first quarter. With the seasonal deposits running off. Can you give us an idea just where you expect the excess liquidity to shake out?
John McWhorter: So most of the excess liquidity we just kept in cash because we knew it was somewhat seasonal just based on the customers that we’re sending it to us. So it was literally just in cash at the Fed or maybe one of our correspondents. And as I’ve mentioned, we’ve had about $150 million already this month roll off. So it’s tax-related sort of stuff for a couple of our customers. Those are relatively few customers that caused the seasonality. So the rest of the balance sheet is not going to be much affected by just cash.
Tom Wendler: Okay. And then can you give us an idea of what you’re seeing for loan yields on new production?
Audrey Duncan: Typically we don’t go below [SOFR] plus 300.
John McWhorter: Yes. We’re kind of looking at each other, I think trying to [indiscernible]. So I mean, the thing is if you think about we have kind of large divisions within and each one of them operates a little differently. And some are fee income based versus those. But I think what — I mean, the best thing we’d probably say is SOFR plus 300 is sort of like the decision point. If it goes below that, it has to be a special reason for it. And — but I think we’re probably averaging just a little above that a few basis points so —
Audrey Duncan: Yes, I would say so in the builder —
John McWhorter: Within the 8.5% range, yes. Some of the fixed rate deals that we’re doing of which there’s not many may be a little bit lower than that, but we’re averaging over 8%.
Audrey Duncan: The builder group is typically around prime floating, but they have a lot of other fees enhance that.
John McWhorter: Yes, to get it back up to that 8-some change.
Audrey Duncan: Right.
Operator: There are no further questions. I would like to turn the call over to Mr. Caraway for closing remarks.
Bart Caraway: Well, thank you, Stacy, and thank you all for joining us on the call and your continued support of Third Coast Bancshares. We look forward to speaking with you next quarter.
Operator: This concludes today’s teleconference. You may disconnect your lines at this time, and thank you for your participation.
