Jack Plants : Those were five branches that were located in our rural banking footprint. Two of those are under sale agreements at this stage of the game. And the other three were written down to recent broker opinion of value as of year-end. So it’s just reflective of market conditions for older abandoned bank space in that area.
Marty Birmingham: I think it’s specific to these buildings, these facilities versus a larger issue in the marketplace. These are kind of single-use type of facilities, some are older. And they’re in markets where demand is pretty modest.
Jack Plants: Correct.
Erik Zwick: That’s helpful. That’s what I expected, but I just wanted to make sure. And then last one just thinking about the Banking-as-a-Service initiative. Just curious if you can kind of update us on from a bigger picture perspective where you are in the entire process? And what goals or milestones you hope to reach in 2023 you mentioned the deposits that you expect about $150 million of deposits, but just curious what else you’re kind of targeting and looking for this year?
Marty Birmingham: Well, the way, we’re thinking about that first and foremost is to make sure that we have a curate — a series of opportunities that end up being a reasonable risk and really in alignment working with companies that are in alignment with our own approach to our risk appetite statement. As we indicated in our investor deck, we’ve got five opportunities that we’re in various stages of. One is live, and two are in integration onboarding, and two are in testing right now. So we are emphasizing commercial business versus consumer, because we think that that’s a more sustainable opportunity over the longer-term. And we can — from a budgeting standpoint, it’s inject’s guidance that in the next 12 months what we’re investing is and what will the benefits and the costs will end up offsetting each other and be neutral to our budget.
But over time we see large opportunity, substantive opportunity in terms of driving non-interest revenues contributing to our deposit portfolio and a modest amount of utilization of the balance sheet relative to lending.
Erik Zwick: Great. That was very helpful. That’s it from me. Thanks for taking my questions today.
Marty Birmingham: Thanks, Erik.
Operator: Our next question is again from Alex Twerdahl from Piper Sandler. Alex, your line is now open. Please go ahead.
Alex Twerdahl: I just want to follow up quickly on the announcement you guys made earlier this week on Syracuse. And I was hoping Marty maybe you could talk a little bit more about the overall strategy in that market. I know there’s been a major investment announced by Micron. And I’m just curious, if this is kind of the start of an overall longer-term strategy to kind of be a little bit more active in that market or how you’re thinking about it?
Marty Birmingham: So thanks for circling back, Alex. We’ve been active really in that market servicing it at the end of our geographic footprint, which is halfway between Rochester and Syracuse out of our Auburn market, but we’ve had significant participation through seasoned relationship management. Our regional president is a long-term commercial banking professional that’s really helped us drive some very nice opportunities full commercial relationships. And so based on that experience, we’ve been working together to build out a loan production office including importantly our human capital that would help us lead that initiative. The Micron announcement really is indicative of what we’ve been talking to investors about for a number of years and that on a regional basis New York State has been encouraging regions to work together to develop strategic economic development plans that are grounded in the assets, the technology, the human capital that is in the regions, the industries that are there and to pursue it and to leverage the collaborative opportunity for investment that comes through the public sector private sector and other sources.
