John McWhorter: Sure. So looking at noninterest bearing balances first. As a percent of total deposits, they’ve certainly come down, the dollars haven’t come down so much. On an average quarterly basis, our noninterest-bearing was actually up a little versus last quarter. But those deposits are certainly harder to grow when we have a quarter where we’re growing $240 million in deposits, it’s hard for those noninterest-bearing to keep up. So yes, that certainly is a negative shift in the mix. And — we will continue growing dollars, but as a percent of total deposits to the extent that we’re growing fast, that’s going to be harder to keep up. We’re certainly seeing more deposits go into CDs than anybody would have predicted a year ago.
But the good news about being relatively high as far as cost of funds is I think we’ve already repriced most of the portfolio. We just don’t have much left to reprice. Higher for longer is probably good for our margin, I think especially relative to peer. I just don’t think we’ll see much change. And from an asset liability perspective, we’re almost exactly evenly matched our provider for ALM has said that we’re certainly one of the most closely matched banks in their portfolio of several hundred, maybe singularly the most even fact. So if rates stay right where they are, I don’t think we’ll see much change in the margin. And even if they change a little bit, I don’t think we’ll see much change. Yes, the numbers kind of ask, a lot of the stuff that’s going on in the bank, as I think you’ll see over time, really the positive net is between the commercial bankers and the really the treasury management side is that we’re seeing a lot of onboarding of accounts.
We certainly have a lot more full wallet relationships than we’ve ever had. And we’re rolling out more sophisticated products and being able to handle more sophisticated treasury customers. And they’re quite busy onboarding customers, but they’re keeping lower DDA balances because obviously, they want to earn as much as they can on their money, everybody is managing the money carefully. But we did have a lot of customer acquisition is we’re growing so fast, as John said, the percentage-wise, it’s tough to keep up. But overall, what I would tell you, our customer base more than ever tends to have both deposit accounts and loans with us. It’s very much a full wallet relationship going forward.
Michael Rose: I appreciate all the color. And then obviously, just on the headcount reductions this quarter, some of that’s strategic. Just as we think about the next year or so, I mean, are there other businesses? Or I know you got out of the auto business, or are there other portfolios, other optimization efforts that you could look to? And maybe just on the loan side, are there areas that you’re emphasizing versus kind of deemphasizing, I assume office might be one of those, but we just want some color.
Bart Caraway: Yes. I mean, if I could start with just the headcount part of it. I think we’re looking at this in exploring all kinds of efficiencies across every line of business. I think everybody in the bank has bought into the efficiency side of it. It’s been very interesting how we can even utilize cross-trained employees. For instance, we have some retail employees that volunteered to learn some of the BSA side and with excess capacity, they’re actually performing some of the BSA/AML tasks with it. And so it’s neat that everybody’s kind of pitched in and we’re finding ways to utilize people to their fullest. At the same time, as we continue to grow some functions need more resources on. So it’s been we staffed as we are, we do have to continue to think about where we’re going in the future and make sure we’re making proper investments.
