Ron Farnsworth: Well, this is Ron here. So obviously, though we took the discount through capital to get there, if I sell the bonds at these levels, and I am not going to recapture that. So, I am very much looking at that more as a capital return over time from that standpoint. And the borrowings, we have got the flexibility to maintain those for the time being, including the increase it need be over time. So, too early to talk about selling off bonds at the discounted prices. I much other have when I have a discount come back and accrete to income over time.
Andrew Terrell: Okay. Understood. I appreciate it.
Ron Farnsworth: Thank you.
Operator: Thank you. Please standby for our next question. We have a follow-up question from the line of Jared Shaw with Wells Fargo. Your line is open.
Jared Shaw: Hey. Thanks for the follow-up. Maybe just a question on the health of the markets, we are hearing a lot about some of the strain in Portland and some of the other cities. How is that – how are your customers being impacted by that? Are you seeing more business moving in the suburbs, or are you actually seeing businesses and people leaving the area and moving somewhere else?
Clint Stein: I think there is a little bit of all of that that’s occurring. So, I think in the core downtown section of, say, Portland, businesses have moved to the suburbs. Umpqua Bank is a great example of that. We have seen some of that also in Seattle. But I will say this probably isn’t a good measure, but the MLB All-Star events were in Seattle last week, and the city showed pretty well. And it’s a cruise season for the Alaska cruises that leave from Seattle. And so there is quite a bit of tourism that’s going on. So, there is a little more vibrancy, but I don’t think it’s businesses that are housed in those core downtown office towers. Likewise, last night, we had dinner in a section of Downtown Portland, and it was pretty vibrant.
But it was more in the Pearl District area and that tends to – that hasn’t really had the same impact that for section that you saw on the news with 79th of riots or whatever it was. So, I would say I am more optimistic on the core downtowns, but I think that they still have a challenging path ahead of them. The suburbs remain pretty vibrant and throughout our footprint. So during the quarter Chris, Tory, Frank and myself, I think we visited customers in six states of our eight states and a host of different industries and different sizes. And they are all very optimistic and their businesses are doing well. And I think that’s where you would have seen some of the optimism in Tory’s response to the outlook for loans and then by default deposits because of the relationship focus that we have.
It’s a product of being out and seeing what still pretty vibrant markets. So, I don’t know if we end up with a soft landing. I don’t know if anybody does. When it is, it’s the recession that’s never come, but we are seeing a lot of positive things from our customers. And I think that’s also why you see the credit metrics. And absent that one little sector of kind of mom-and-pop trucking operations in FinPac, the credit portfolio continues to perform very, very well. I don’t know, Tory, Chris, if you want to add anything?
