Matt Olney: Okay. And then I guess the — as far as the incremental cost of funds that you’re using to fund the loan growth, if we blend the growth, the dollar amount growth of the NIBs along with the interest-bearing deposits, what’s the incremental cost of the total deposits that you’ve seen more recently?
John McWhorter: Yes. So for this last quarter, when we had the deposit campaign that really span the last 2 quarters, our cost of funds for those deposits was less. I think it was less than 5%. Wholesale deposits that we’re needing to raise to make up the difference is probably more in the 5.30% range. It’s hard for us to predict what the mix is going to be going forward as to our self-generated core deposits versus what is needed on a wholesale basis to make up the difference. But self-generated it’s probably averaging in the 4.5% range and then the wholesale in the $530 range.
Matt Olney: Okay. Well, if I kind of take that and think about the margin in 2024, it feels like there’s a little bit more incremental pressure beyond the fourth quarter we talked about, just if we assume those spreads continue. Is that the right way to think about the margin for next year, little incremental pressure from the fourth quarter?
John McWhorter: It is. If we would have grown loans, $100 million in the third quarter, I think we would have been pretty close to our forecast of the margin being down plus 5%. So it is certainly a function of how fast we grow. Now with that said, if we grow $300 million next year, it’s certainly a smaller percent of the overall balance sheet. So it won’t affect the margin as much as it would have this year. But it’s going to be less than 371 on average the spreads for new business.
Matt Olney: Okay. Yes. That makes sense. And then just lastly, capital. Can you talk more about just capital constraints, binding ratios that you’re watching for, especially in light of — if the pipelines do improve and loan growth at the higher end? Just kind of what kind of capital ratios are you watching closely?
John McWhorter: Yes. So there’s — our risk-based capital ratio was flat quarter versus quarter. And that’s the one that we watch most closely is a high loan-to-deposit ratio. But as long as we’re earning in that 1% ROA is going to be — it should be capital accretive. And we may not be exactly there this next quarter, but certainly, that’s our bare minimum goal, and we expect to be there. And again, it will be capital accretive. So we are not planning any capital on burns. Yes.
Bart Caraway: And I think in 2024, we should be in a capital accretive to where self-funding basically is what the goal is. And John and I feel pretty good about not being there, but we don’t need capital. Yes.
Matt Olney: So what you’re saying is, I think that threshold to internally generate enough capital, the ROA needed to be pretty close to 1% to get there. Is that right?
John McWhorter: At the rate that we have been growing this year, yes, and we expect our growth rate to be a little bit slower next year. So we wouldn’t have to be at the 1% to be self-generating, but that’s — the 1% is certainly the way we were looking at it this year, and I think our growth is 20-plus percent. So as we go down to 12% or 15% growth next year, it will take a little bit less to get to the same place.
Matt Olney: Okay. And just one more, I guess, for Audrey. I think Audrey mentioned there were 2 loans that were — I think you said they were being worked out currently in the prepared remarks. What was the time line on the resolution? Is that a near-term fourth quarter event? Or could that move into next year?
Audrey Duncan: Well, probably, I would say, into next year, but not probably in first quarter, I’d say.
