Michele Kawiecki: Hey, good morning, Damon. For Q4, I would say the expense run rate will be probably be in the $94 million to $95 million range, which is really consistent with the guidance that we have provided last quarter for 2024. We’re still working through our planning, as I mentioned to Terry, and so we’ll be able to give you a better run rate probably next quarter to what we’ll see in 2024.
Damon DelMonte: Got it. Okay. Thanks. And then on the fee income side of things, obviously a little bit more in the mortgage banking, I think this quarter, probably some seasonality here in the fourth quarter, but do you think kind of a call it $28.5 million and $29.5 million ranges is reasonable as we close out the year?
Michele Kawiecki: I think that our run rate, what we had in Q3 would be a good run rate to use for Q4.
Damon DelMonte: Okay. All right, great. And then I guess lastly on that tax rate, do you have an estimated effective tax rate we should consider?
Michele Kawiecki: Yes, I think we’re expecting it to be 15% to 15.5%
Damon DelMonte: Okay. That’s all I have for now. I’ll step back. Thank you.
Michele Kawiecki: All right, thanks Damon.
Operator: Thank you, one moment please. Our next question comes from the line of Nathan Race of Piper Sandler. Your line is open.
Nathan Race: Yep. Great. Hi everyone. Hope everyone’s doing well. Just going back to the margin outlook over the next few quarters, curious to kind of hear some thoughts on some of the dynamics on the right side of the balance sheet. It was great to see the borrowings held flat versus the last quarter. So just curious how you guys are thinking about kind of core deposit growth going forward and how you are thinking about funding loan growth. It sounds like mid-scale digits, loan growth should be restored going forward. So I imagine it’s just a combination of securities portfolio cash flow, though, Michele alluded to earlier, and then also with some incremental deposit growth. Is that the right way to think about it?
Mark Hardwick : Yes, it is. I think, and good morning, Nate. I think we’re pretty confident in our ability to continue to grow our deposit base to fund our loan growth. And so that mid to higher single digit growth rate of loans for next year, funded primarily out of deposits is what we’re focused on.
Nathan Race: Okay, great. And then just kind of theoretically in a higher-for-longer rate environment, do you guys have any visibility in terms of kind of how you think about, where NII maybe bottoms and just maybe an overall growth rate for next year? It looks like you’re on pace to grow NII 4% to 5% this year. So any thoughts on just how NII trajects into next year under that environment?
Michele Kawiecki: Well, I think in Q4 with the margin compression that we think we might see, at least a bit of it that we think we’ll see, there could still be some pressure on net interest income. I think once we hit that trough, though, and we make a turning point, then we should be able to see some growth. And I think the loan growth that we’ll expect to see over the coming quarters will also help offset any rising deposit costs that are left until we see some real deposit pricing stability.
Nathan Race: Okay, great. Makes sense. And then maybe just lastly on capital. You guys are still operating with pretty flexible excess capital levels. So just curious to hear any thoughts on perhaps reengaging buybacks or the plan kind of just to build capital, just given the uncertainty out there?
