James Nesci: So Chris, I’ll start and I’ll let Kelly finish. The goal is always to become profitable and to continue to improve the financials for the company and for its shareholders. The expense side, we continue to look for any expenses that we can cut or reduce or be more strategic about. We continue to consolidate vendors whenever possible. We are very mindful of our staffing and our salaries and benefits. So I think there’s a lot being done when you look at the company over the course of the last three years, much has been accomplished. But the curve, as you indicate is changed. I mean, it’s changed dramatically over the last 18, 24 months, and it’s become more difficult for us as a liability sensitive bank to produce a NIM that’s sufficient.
We will continue to look for more organic retail deposits. And we’re also more focused on commercial and industrial type loans to get a higher yielding asset onto the books. We think all of those things in time lead to greater profitability. That’s the focus. That’s the strategy. The compensation, I think, was a question you asked about. Our metrics are tied to things that lead to greater profitability in the long haul. That every employee at Blue Foundry Bank is focused on these items. We talk about them frequently. We have town halls, every employee has invested in this company. So yes, it’s top of mind for all us. I appreciate the question, but I don’t know if Kelly wants to add anything to it.
Kelly Pecoraro: No, I think, Jim, you covered off and we’re looking to hit on those strategic initiatives and compensate relative to those targets as we look to profitability.
Christopher O’Connell: Great. And along those lines, I mean, is there anything that you’ve mapped out that maybe don’t – you don’t quite have hard numbers around on the expense side as you get through the year and into 2025. Any projects or anything where you think you can cut out any significant costs?
James Nesci: I don’t have any additional guidance at this time. I don’t know of any, but I don’t have any guidance in any event on that topic. I would tell you right now it’s – we’re trying to be as lean as possible and to create a better bank every single day.
Christopher O’Connell: Great. Appreciate the time. Thanks for taking my questions.
James Nesci: Thank you. And have a great day.
Operator: We have no further questions at this time. So I’ll pass the call back to the management team for any closing remarks.
James Nesci: Thank you, operator. And to everyone who is listening today. Thank you very much for your interest in Blue Foundry Bank. We look forward to speaking to you again in the next quarter. Have a great day.
Operator: That concludes today’s call. Thank you all for your participation. You may now disconnect your line.
