Premier Financial Corp. (NASDAQ:PFC) Q3 2023 Earnings Call Transcript

We will be letting it out a bit next year back to the comment, but there is market there, and we will be back in the market in a more normal way. So, I think if it’s going to new direction it will lever favorable…

Michael Perito: Sorry, go ahead.

Gary Small: That’s fine. It will lever favorable.

Michael Perito: Great. Thanks. And that dovetails in my next question, and then I will step back. Just on you mentioned kind of north of 8 on incremental, blended commercial loan yields. I guess as we look in the pipeline here and maybe just the early part of next year because who knows what the latter part would look like. But I guess, two-part question. And I guess what’s your appetite for growth here I mean we have seen a lot of banks kind of pull back a bit with the liquidity environment being what it is? And so curious, I mean it sounds like you expect a little earning asset remix based on your guide in the fourth quarter. So, it sounds like some positive loan growth, but curious if you could go a layer deeper there. And then secondly, like within your customer base, I mean I think in your prepared remarks on the release, Gary, you might have mentioned some C&I utilization going down.

I mean how much appetite is there for north of 8% commercial credit in market today from the customer perspective?

Gary Small: I hesitate to use the word pricing power, but there is enough folks on the sidelines that if the deal works and the pricing is reasonable, you can get the terms you are looking for. So, I think at this point, that’s very achievable.

Michael Perito: Okay. Alright. Guys, well, I appreciate all that. Thanks.

Gary Small: Thanks Mike.

Operator: [Operator Instructions] Okay. There are no further questions from the line. So, Gary, I will hand back to you for any closing remarks.

Gary Small: Okay. I thank you all for your interest and feel free to reach out with any additional questions that might develop and look forward to having a great conversation next quarter. Thank you all.

Operator: That concludes today’s conference call. Thank you all very much for joining. You may now disconnect your lines. Have a great rest of your day.