Brandon King: Got it. And then last one from me, Jefferson, do you happen to have the NIM in the month of June?
Jefferson Harralson: So, I don’t have that. I have it, but it’s just so many of these non-recurring things that you annualize times 12 and it just doesn’t make a lot of sense. But I mean, I do think we’re — if you put a run rate on — if I try to put run rate on the June margin, it’d be very close to where we are now. I think our margin is bottomed out very close.
Brandon King: Okay. Got it.
Jefferson Harralson: It’s really hard to take some of these things that go in and out multiply times 12 and get a real feel for what that is.
Brandon King: Yes. Totally understand. Thanks for taking my questions.
Jefferson Harralson: All right. Thanks.
Operator: Our next question comes from Michael Rose of Raymond James. Go ahead.
Michael Rose: Hey good morning guys. Thanks for taking my questions. Jefferson, maybe just to go back to the margin briefly, I know First Miami just closed. Can you give us a sense for what the total amount of accretable yield is now with First Miami and then what you would expect the accretion to kind of run out over the next couple of quarters just on a scheduled base? Thanks.
Jefferson Harralson: That’s a great question because we’re going to do final marks now. So, the numbers I’m giving you could change as we do the final mark. So, without First Miami, we have $40 million of accretion to go through. Our initial expectation of the marks were that First Miami was going to add another $40 million on top of that. So, we had $4 million of accretion come through before First Miami. Currently modeling for the third quarter that that’s $6 million, although again that’s — we don’t have the final mark. So, it’s really — it’s tough, but the rates haven’t changed that much since we announced First Miami, so maybe that $40 million mark stays in there. But what I’m using for my forecast right now is that $40 million, but it is subject to change as we get to the final mark. So, for now I’m using that we’re at $80 million currently most likely, but then we’ll get the final mark here probably in a month or two.
Michael Rose: Okay, perfect. That’s very helpful. And I think you said that the margin was kind of nearing a trough. I think you said down about five basis points or so was your expectation for the third quarter. I assume that’s on a core basis correct without the impact of accretable yield or is it all in, just want to clarify?
Jefferson Harralson: So, they’re very close because the addition I’m using for the third quarter is $2 million. So, those numbers are very close, but I was thinking about it with, but the difference isn’t super huge at $2 million of increase I’m expecting for the third quarter.
Michael Rose: Okay, perfect. Appreciate it. Maybe just switching gears a little bit. So, you guys have been very kind of active with M&A over the years. I know your target size is kind of $1 billion to $3 billion is kind of what you’ve, kind of, targeted. You guys have pretty good currency. There’s a lot of chatter about M&A out there. Obviously, many people can’t do it loan mark’s credit, but interest rate marks are prohibitive, but just wanted to get a sense for, are you guys still open for business as it relates to M&A and are you actively engaged with anybody at this point? Thanks.
