Jared Shaw: Okay, thanks. And what’s the early sort of projected credit mark on the portfolio?
David Dykstra: Well, we haven’t disclosed that, but they are a public company. You can look at their public filings. And as Tim mentioned earlier, they’ve had net recoveries for a few years, a very conservative well-run credit function. I wouldn’t expect much from that and you could tell that just from looking at their public disclosures.
Jared Shaw: Okay. And then you had highlighted the excess funding coming from the deal. If we do see accelerated loan growth from the core bank, would you look at adding wholesale funding as a short-term fix until those excess funds come on or should we really be thinking that you’re going to match fund all loan growth with full market price deposits?
David Dykstra: No, we sometimes use wholesale funding to fund the growth because you can never match it perfectly, right? But our plan long term is even if you backfill in the short term with wholesale funding and we continue to grow our core consumer and commercial funding in a manner that you don’t have to rely on the wholesale funding long term. But sometimes you have to backfill in if the loan growth is much more accelerated than your standard deposit gathering activities. But it’s not a long-term plan, it’s a short-term gap filler plan.
Jared Shaw: Yeah. Okay. Great. Thanks. And then just finally for me, what’s the — you talked about the better spread opportunity on commercial lending. Where are you seeing spot rates for new C&I loans now in the market?
David Dykstra: It’s a pretty broad group. I mean, you can — for really high-quality, well-secured, well-structured opportunities where you’re getting a lot of treasury, you could be in the 250 range. But we’re still seeing rates that are still very attractive north of that on smaller deals and deals where the year — there’s a little bit more structural issues. But generally speaking, our job, as we talked about, is really bringing these customers in because you don’t get these opportunities very often. So, our bankers are incredibly eager to win these opportunities when they’re out there. I’m not saying that we’re going to be the lowest price necessarily, but we’re certainly if it’s a deal that we want, we’re going to work hard to win it.
Jared Shaw: Great. Thank you.
Operator: Thank you. I would now like to turn the conference back to Tim Crane for closing remarks. Sir?
Tim Crane: Thank you, Latif, and for all of you that have participated this morning. Thank you, not only for today, but for your feedback and insights over the last couple of days as we’ve talked about the transaction. I think you can tell we’re excited both about the opportunities in Chicago and about the pending acquisition. And as always, we’ll work hard to deliver. So, thank you for your time this morning. We’ll wrap it up.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
