Ebrahim Poonawala: Got it. And I guess, a separate question, you’ve talked a lot — both you and Bill, throughout the call around wanting to bend the cost curve and the expense focus. I know you’re not giving ’24 guidance today, but as we think about the opportunity there, I’m just wondering if you can put some framework around what we should expect around what this entails with regards to just quantifying it.
Bill Rogers: Yeah. I’ll take that. And without again trying to sort of provide specific guidance because we have a lot of things that we’re working on. If you think about sort of the buildup, so the buildup was related to things that are investing to build a large financial institution, and then we had some unique onetime things to us, that are things like pension accounting and then we had acquisitions and part of that. So to say a couple of things, I mean, we’re clearly at an inflection point in the growth rate. So the growth rate is going to change materially and you can sort of see that by our guidance for the year relative to where we are right now. So that will give you an impression of where we think the third and fourth quarter will be from a growth perspective.
And I think similarly sort of on an absolute basis for the balance of this year, we’d expect to see some of that absolute level of expenses coming down, but the real change comes in the structural opportunities that Mike talked about, the things that we’re working on. So we can bend the curve in lots of ways that are incremental, but I think the big opportunity for us is sort of the fundamental components in terms of how our company is structured, how it runs, what the chassis looks like, what are the businesses that we’re in. And that’s the work that we’re doing, and that’s the big work of post-integration to running the company in a way that reflects the current environment. So, what I would say, maybe I’ll use the word appreciably. So expenses will be down appreciably.
And as we get into this latter part of this year, we’ll provide a lot more guidance and thought about 2024.
Ebrahim Poonawala: Thanks a lot. Appreciate it.
Operator: For our next question we’ll turn to Erika Najarian with UBS. Please go ahead.
Erika Najarian: Hi, good morning. And I apologize in advance if it feels like everyone’s asking the same question, but I think it’s important for investors to have clarity. Mike, just on the net interest income trajectory, I apologize that we’re asking you to spoon-feed it to us, and for everybody could model it later, but investors are really thinking about what the exit rate for the fourth quarter will be — and potentially overlay your net interest income sensitivity that you disclosed in your Q which at down 100 basis points, just down 70 basis points would imply pretty good stability from fourth quarter levels. So I guess I’m wondering from the 3, 6, 7, and 9, what is the range of NII outcomes that you expect for the fourth quarter and do you agree with — that notion that if the Fed does cut 100 basis points, which a lot of investors are putting in their models, there is going to be relative stability in terms of your net interest income power next year?
