Malcolm Holland: Yeah. I mean to answer your question, strategy hasn’t changed. It’s just ramped up. As we – I think we said in the third quarter that this was a multiyear strategy. Canada, we just hired one of our lead guys. They just started this week. We hired a consultant in the fourth quarter, and he’s now producing some really good work. There is no magic pill or magic vertical that’s going to solve this funding problem. It’s about 6, 7 and maybe 8 different things, and we’re pulling every single one of those levers. And I think you’re starting to see some movement. You can see back – we did grow deposits. I know the industry shrank. But we did grow deposits, albeit not what we wanted to, but some of our efforts, a lot of our efforts are moving in a very positive direction.
It’s just going to take some time. And so as – when Terry talked about short-term funding in these CDs, these are – we’re hoping these are GAAP fillers as we continue to be successful in our strategy. The fintech piece specifically, I mean, when we talk about hires, there’s a couple of hires that we’re making in that area. We have a specific group. They have some opportunities, as of this week that are going to be nice funding opportunities for us. So we continue on that strategy. We haven’t diverted off of it. We think it’s the right one. It’s just going to take a little bit more time.
Terry Earley: And Brett, those – there are meaningful opportunities there, but they are going to be high beta. But if you’re thinking about rates down, that’s not a bad thing. So, yeah.
Brett Rabatin: Okay. And maybe just one last follow-up on that. As we think about betas, as you just mentioned, do you guys feel like you took – what percentage of the pain do you guys think maybe you took in the fourth quarter versus where you might have to get to in terms of the relative treasury curve?
Terry Earley: Brett, let say it one more time. You broke up a little bit.
Brett Rabatin: Sorry. So just looking at the slide on deposit growth in the deck and showing rates in average Fed funds effective. And there’s an obvious upward movement in 3Q and then in 4Q, your interest-bearing rates and your total deposit rate accelerated 3Q to 4Q. And I don’t know if it has to go to the effective Fed funds rate, but do you feel like you’ve taken a meaningful portion of the hit that you need to in terms of deposit pricing pressure?
Malcolm Holland: No, I think it’s still coming just because I think you’ve got time deposits, you’ve got money market customers that you’re going to fight hand-to-hand combat to retain these customers, these relationships and these dollars. And I think the deposit beta – pricing on the margin every day gets more aggressive is what I would tell you. It’s just the way the environment is. And so I don’t – I just don’t expect this deposit beta thing. We’re nowhere near its peak.
Brett Rabatin: Okay. And that’s very helpful…
Malcolm Holland: The Fed got another 50 or another 75 somewhere in there, I would say, and then they’re going to hang out there. It seems like for the balance of the year. And that’s why I think there’s going to be NIM pressure as we get maybe in Q1, but certainly as we get later in the year.
Brett Rabatin: Okay. Thanks for the color.
Malcolm Holland: Thanks, Brett.
Terry Earley: Thank you.
