Greetings, and welcome to the HTLF Q2 2022 Conference Call. This afternoon, HTLF distributed its Q2 press release, and hopefully, you've had a chance to review the results. If there is anyone on this call who did not receive a copy, you may access it at HTLF's website at htlf.com. With us today from management are Bruce Lee, President and CEO, and Bryan R. McKeag, Executive Vice President and Chief Financial Officer. Management will provide a brief summary of the quarter, and then we will open the call up to your questions. Before we begin the presentation, I would like to remind everyone that some of the information management will be providing today falls under the guidelines of forward-looking statements as defined by the Securities and Exchange Commission. As part of these guidelines, I must point out that any statements made during this presentation concerning the company's hopes, beliefs, expectations, and predictions of the future are forward-looking statements, and actual results could differ materially from those projected. Additional information on these factors is included from time to time in the company's 10-K and 10-Q filings, which may be obtained on the company's website or the SEC's website. At this time, I will now turn the call over to Mr. Bruce Lee at HTLF. Please go ahead, sir. Thank you, Latif. Good afternoon, everyone. This is Bruce Lee, President and CEO. Welcome to HTLF's 2022 Q2 Earnings Conference Call. We appreciate you joining us today as we detail HTLF's excellent performance for the quarter. For the next few minutes, I'll discuss our Q2 highlights and then turn the call over to Bryan R. McKeag, our Chief Financial Officer, to provide additional information around HTLF's results. Also joining us today is Nathan Jones, our Chief Credit Officer, who can answer questions regarding credit quality, which continues to be quite strong. HTLF had an outstanding Q2, reporting $49.9 million of net income and EPS of $1.17. Core EPS is $1.15 after both positive and negative one-time events, which clearly exceeded expectations. We are moving forward together. We have sustained our momentum as we continue to execute our strategy and drive results with strong growth in loans, deposits, and revenue. In the Q2, we delivered our best quarter ever for organic loan growth, increasing $552 million or 5% from the linked quarter, excluding PPP, and again, significantly exceeding our guidance of $200 million. Deposit growth of $559 million from the linked quarter. Our credit quality continues to be excellent, with non-performing assets holding at 34 basis points of total assets and delinquencies at historic lows. Total assets are a record $19.7 billion, an increase of $428 million or 2% from the linked quarter. Let's start with loan growth highlights. We saw continued strength across our commercial business with growth in every commercial loan portfolio. From the linked quarter, commercial and industrial increased $245 million or 9%. Owner-occupied real estate increased $17 million or 1%. Non-owner-occupied real estate increased $160 million or 7%. Construction was up slightly by $3 million, and our ag portfolio increased $70 million or 9%. In the Q2, we added 322 new commercial relationships, representing $328 million in funded loans and $37 million of new deposits. Notably, all originations were of higher credit quality than the overall portfolio as measured by risk ratings and credit scores. 66% of these loans have variable rate structures compared to 43% from last year. Our investments in talent continue to deliver results. Our commercial pipeline remains strong at over $2 billion, consistent with previous quarters, and we expect to grow commercial loans by more than $250 million in the Q3. I've had many conversations with our customers regarding the business trends they're experiencing and their outlooks. While certain headwinds such as inflation, supply chain, and staffing persist, our customers remain optimistic for the rest of the year and cautious about 2023. In our consumer loan portfolio, we saw a strong growth of $37 million or 9% from the linked quarter. Residential mortgage increased $20 million or 2% from the linked quarter. Overall, each of our 11 banks had positive organic loan growth with Arizona Bank & Trust and Citywide Banks in Colorado leading the way. We delivered another quarter of deposit growth. Non-time deposits totaled $16.1 billion, an increase of $534 million or 3% from the linked quarter. Total deposits grew to a record $17.2 billion, an increase of $559 million from the linked quarter and our 13th consecutive quarter of total deposit growth. We maintained our excellent deposit mix. 94% of deposits are in non-time accounts. 35% of total deposits are in non-interest-bearing accounts, positioning us well in a rising rate environment. Our deposit strategy continues to serve us well. Total deposit costs remain low at 15 basis points. Our efficiency ratio decreased significantly to 57.7%, driven largely by both increased revenue as we executed our growth strategies and a reduction of core expenses. Competitive pressures remain for top talent, and we are executing an employee retention strategy that's been successful since implementation. This is an area we're closely monitoring as wage inflation and demands for top talent continue to be high. Turning to key credit metrics. Our disciplined credit approach has delivered excellent credit quality across our portfolios. Delinquency ratio is at a historic low of six basis points. Non-performing loans represented 59 basis points of total loans at the end of the Q2, a decrease of four basis points from the linked quarter. Non-performing assets as a percentage of total assets remained low at 34 basis points. Non-pass rated loans decreased to 5.8% from 6.3% in the linked quarter. Lastly, in the Q2, we reported net charge-offs of $700,000 or three basis points annualized of average loans. We are delivering against our ambitious and disciplined growth strategies, which were developed by our management team and unanimously approved by HTLF's board of directors. We have considerable momentum and are positioned for continued growth and progress against our goals of organic loan growth, new customer acquisition, attracting and retaining talent, controlling expenses, branch and geographic optimization, and maintaining strong credit quality. We will also achieve growth by consolidating our 11 separate bank charters into a single HTLF Bank charter in Colorado. This will create operational and cost efficiencies and unlock capacity that supports growth both organically and through M&A. Our 11 banks will maintain their local brands, local leadership, and local decision-making. In June, we successfully executed the first of 11 bank charter consolidations, with Citywide Banks becoming a division of HTLF Bank. We're pleased with the smooth transition and the progress on the project overall. 4 other banks are slated to convert this year. We expect to finish charter consolidation by late 2023 and deliver $20 million of annual savings and capacity after the project is complete. We will also continue to optimize our branch network. In the Q2, we sold two branches and closed seven. Over the past 18 months, we have reduced our total number of branches by 21, from 142 to 121. This represents a 15% reduction in branches. Our strategy and accomplishments continue to be recognized by local and national media. The Nilson Report ranked HTLF among the top U.S. commercial credit card issuers for the seventh year in a row. We continue to demonstrate consistent strength in the commercial payment space as HTLF saw a 48% increase in purchase volume growth in 2021. Nilson reports ranking reflects HTLF's innovative approach to digital technology products in providing excellent customer education and experiences. Awards, recognition, and strong performance result from the hard work and dedication of our employees. I want to thank them for their ongoing commitment to deliver strength, insight, and growth to our customers, communities, and investors. We move forward together because together we are HTLF. I will now turn the call over to Bryan R. McKeag, HTLF's Chief Financial Officer, for more details on our performance and financials. Thanks, and good afternoon. As Bruce outlined, this was another solid quarter for HTLF, with earnings per share of $1.17, loan growth of $552 million, excluding PPP, strong revenue growth, improved expense levels, and continued favorable credit trends. Included in this quarter's results were the following large items. Gain on sale of two Illinois branches was $3 million. Gain on sale of a small insurance sub was $400,000, and a gain on the sale of our Visa Class B shares was $1.9 million. Against these gains were losses on the sale of securities of $2.1 million and charter consolidation restructuring costs of $2.4 million. Altogether, these items increased pre-tax income by just under $1 million and increased earnings per share by about $0.02. I will cover these in more detail throughout my comments. I would also remind everyone that both our earnings release and Q2 investor presentation are included in the IR section of HTLF's website. I'll start my comments as I usually do, with the provision for credit losses, which totaled $3.2 million and was unchanged from last quarter. This quarter, the provisioning for loan growth was partially offset by favorable underlying credit trends. More specifically, non-performing loans were down slightly compared to last quarter, and loan delinquencies remained historically low at six basis points of total loans, and net charge-offs were minimal at $714,000 this quarter. At quarter end, the allowance for lending-related credit losses, which includes both the allowance for credit losses on loans and unfunded commitments, increased $2.5 million to $119.1 million or 1.12% of total loans. In addition, at quarter end, unamortized purchased loan valuations on the balance sheet totaled $13.2 million or 12 basis points of loans. Moving to other balance sheet items, investment balances rose just over $80 million to end the quarter at $7.3 billion, representing 37% of assets with a tax equivalent yield of 2.46%, a modified duration between five and six years, and producing monthly cash flows of $65 million-$70 million. During the quarter, we took the opportunity to reposition some of the portfolio by selling just over $150 million of securities that yielded 2.1% and used the proceeds to repurchase new securities yielding 4.3%. The loss on the repositioning was largely offset by the $1.9 million gain we realized on the sale of our remaining Visa B shares. The tangible common equity ratio decreased 96 basis points to 5.56% at quarter end and reflects 115 basis points decline due to the decrease in market value of investments and some balance sheet growth. That was partially offset by a 19 basis points increase from higher retained earnings. HTLF's regulatory capital ratios remain strong with Common Equity Tier 1 at just under 11.2% and total risk-based capital at 11.1%. The balance sheet continues to be very strong and well-positioned. Moving to the income statement, starting with revenue, net interest income totaled $142.5 million this quarter, which was $7.8 million higher than the prior quarter. The main drivers of the increase were strong loan and deposit growth, together with the impact of the Fed's short-term interest rate increases and a low level of deposit price increases. This quarter also included $2.5 million decline in PPP interest and fees to $1.8 million from $4.3 million last quarter. We exited the quarter with just under 700,000 of unamortized PPP loan fees remaining on our books. The net interest margin on a tax equivalent basis rose 10 basis points this quarter to 3.22%. Due to the recent rate increases, investment yields improved 30 basis points and loan yields, excluding PPP, were 10 basis points higher, while interest costs also rose 10 basis points. This quarter, the net interest margin includes seven basis points of purchase accounting accretion, which is up two basis points from the prior quarter. Non-interest income was flat compared to the prior quarter at $34.5 million. However, excluding gains and losses, core net non-interest income was $36.7 million, up almost $4.8 million, and exceeded our projections. The main components were, first, a strong increase in deposit service fees of $2.8 million. That does include our usual annual Visa incentives of $1.3 million. Other non-interest income was up $4 million due to a $1.8 million increase in commercial swaps and syndication fees and the previously mentioned $1.9 million gain on the sale of our remaining Visa Class B shares. These positives were offset somewhat by weaker wealth management fees and mortgage banking revenue due to rising interest rates. Core revenue trends were positive for both net interest income and fees, and we believe revenue can continue to trend positive through the rest of 2022. Shifting to expenses. Non-interest expenses totaled $106.5 million this quarter. That's down $4.3 million from last quarter. Excluding restructuring, tax credit costs, and asset gains and losses, our core expenses decreased $3 million to $106.8 million, compared to $110 million last quarter, and came in a little better than projected. Almost all expense categories were flat to down this quarter, with the most significant improvement coming in salary and benefits expense, which decreased $2.1 million, due primarily to a decline in FTE count of 121 for the quarter. As a result of the strong revenue growth and core expense reductions this quarter, the Q2 efficiency ratio improved significantly to 57.66%. While looking ahead, we believe Q2 results provide significant momentum that will continue into the back half of 2022. This is highlighted by, first, loan pipelines, which, as Bruce mentioned, remain strong and support our expected loan growth rate of 2%-3% per quarter. Non-time deposit growth is expected to slow into the 1% range per quarter. Assuming no additional Fed changes, net interest income is projected to grow in the mid-single digits on a percentage basis next quarter, reflecting continued loan growth and a full quarter impact from the June Fed rate increase, with some offset from some lagging pressure on deposit pricing. The expected Fed increase of 75 basis points in July is projected to increase net interest income by $9 million-$10 million on an annualized basis, assuming our normal deposit ratio of about 40. Provisions for credit losses should remain near current levels given the projected loan growth and assuming net charge-offs remain below historic levels for the rest of 2022. However, changes in economic projections could have a significant impact on future provisions should a stronger recession begin to materialize. Core non-interest income, excluding gains and losses, is expected to normalize into the range of $32 million-$33 million per quarter, with higher commercial deposits, swap, and syndication fees helping to offset lower mortgage banking and wealth revenue as rates continue to rise. Core expenses are expected to decline slightly into the $105 million-$106 million range over the next two quarters. However, inflationary pressures, particularly wage inflation, remain challenging. Charter consolidation restructuring costs are expected to be in the $2.5 million-$3 million range next quarter. In total, we estimate $14 million-$15 million of remaining costs over the next two years. Consolidation benefits have already begun to layer in and will continue to do so over the next two years. We remain very confident that in total, they will reach $20 million on an annualized basis when the consolidations are completed in late 2023. Finally, we believe a tax rate of 22%-23%, excluding new tax credits, is a reasonable run rate. With that, I will turn the call back over to Bruce for some questions. Latif, we can open up the line now for questions. Thank you. We will now be conducting a Q&A, a Q&A session. To ask a question, please press Star one one on your telephone. Again, that's Star one one on your telephone to ask a question. Please hold while we compile the Q&A roster. Our first question comes from the line of Damon DelMonte of KBW. Damon DelMonte, please go ahead. Hey, good afternoon, guys. Hope everybody's doing well today. We are. Thank you, Damon. Great. Just wanted to start off with loan growth. You know, really solid quarter this quarter and, you know, the commentary implies that you're remaining on track and you have another, you know, good visibility into the pipeline and things look good. Could you just talk a little bit about, you know, what areas of the footprint are providing these opportunities and kind of just what some of the expectations are for the drivers of the growth over the back half of the year, please? Yeah, Damon. We really had solid growth across our entire footprint. For the first time, since I can remember, maybe since I've been here at HTLF, all 11 of our banks had organic growth. We did have, sort of outstanding growth in Colorado, in Arizona, and in California, and a fair amount of that California growth was attributed to the agribusiness group. Really, everybody had very, very solid growth. You know, our focus has been C&I activity, and that's why you saw, you know, that be the most significant segment. As you know, the agribusiness group is doing well, as is real estate. I also do want to point out our consumer group, just had a really outstanding quarter as well with their growth. We're really pleased that it's occurring throughout our footprint. In all loan categories. Maybe the most important thing, the credit quality of our new originations, we're very, very pleased with. That the originations are in, you know, we have flipped from, flipped to more of a floating rate mix. Got it. Okay and then Bryan, just as it relates to the margin, you know, the commentary kind of points towards, you know, a continued rise in the margin. You think you could kind of replicate the amount of core expansion you saw this quarter? Or do you think that the cost of deposits kind of catches up a little bit with another 75 basis point rate hike and could kind of, you know, weigh in a little bit on the pace of expansion? Yeah. I think it could be a little bit. I think if I went back and looked what I would have said last quarter, you know, for a 75 basis point rate increase, it would have been a higher number than the $9 million-$10 million I said in my comments. That's because we are expecting, you know, the betas to be more normal. However, you know, we're going to try and do our best to keep those deposits within where the market is. We'll see. It really is going to depend on what the market does. There could be a little bit of lag, too. I think I mentioned, you know, June looked really solid with the first 75 coming in. You know, we only got a few, really a few weeks of that increase. Some of our loan growth came towards the end of the quarter. You know, those couple, I really feel good that we can raise the core or raise the net interest income line by that mid-single digits over what we posted this year or this quarter. Yeah. Damon, maybe just to add to Bryan's comments. You know, our margin expanded in June more than it did for the average for the quarter. That gives us some momentum. You know, we ended the period, the quarter end period, about $200 million more in loans than the average during the quarter. Just those two things alone give us a very positive feeling about expanding our margin in addition to the three-quarters rate hike that everybody's anticipating. But as Bryan said, you know, for the first time of all these hikes, we really think we're going to get into our deposit betas. We've done a great job of really holding our deposit rates down over these first couple of- Got it. Okay, great. Just final question on, you know, with regards to capital and, you know, the TC ratio down to 5.56%. I know, you know, a good portion of that is attributable to the AOCI impact and stuff. But does that have any, you know, does that present any concern for you guys as far as the pace of growth you're seeing with loans that maybe, you know, you need to slow it down a little bit because of that level getting into the mid fives? Or do you feel like it's truly a temporary item and it's not really going to be a constraining factor for you? I don't think it's going to be a constraining factor on our loan growth. You know, certainly, we'll look at the investment portfolio and then how we reinvest the cash flows, and we'll see what deposit dollars flow in as well. You know, I think if we could, we'd probably manage to a flat to slightly up earning assets, not hyper-growth in the earning assets, partially because of the keeping the TCE under control, but we're not going to hold back on loan growth because of this. This won't slow us down. Got it. Okay. That's- That's all I had. I'll stop there. Oh, yeah. I would just add. Right. Just to finish that off. We do have plenty of regulatory capital. I was told I may have misspoke, but our total risk-based capital is 15.1%, so. Got it. Okay, perfect. Thank you very much. Thank you. Our next question comes from Andrew Liesch of Piper Sandler. Andrew Liesch, your line is open. Hi, guys. Good afternoon. Thanks for taking the questions. You know, I know some of the focus lately has been on larger loans, and I'm just curious if that's kind of what drove the loan syndication fees to the level they were at and how. I guess then, similarly, like what was the average size of the loans that were added to the portfolio this quarter? I think the average still was relatively in that million-ish. I'll look this up, but off the top of my head, I think it was around $1 million, give or take, which is slightly probably higher than our average. That's about double historically, our average, Andrew. You've got to balance off some of those larger loans and the syndicated transactions with a really strong quarter in small business and business banking loans as well. We're really focusing on all of them, not just one area at the expense of another. Okay. That's helpful. I mean, I guess so what's your outlook for the syndication fees? I guess what's the pipeline for the larger loans then? Yeah. We feel pretty good about the Q3 with what we already have either closed or what's in our pipeline. The other area that we feel real good about the capital markets is on our interest rate swaps. Between those two, we feel that we can probably replicate maybe even another $1 million or so in the Q3 above where we were in the Q2. As Bryan said, that's really offsetting some wealth fees as well as some mortgage fees. Got you. You covered all the other questions I had in your prepared comments, so I'll step back. Thanks. Thanks, Andrew. Thank you. Again, to ask a question, please press Star one on your touchtone telephone. Again, that's Star one one on your telephone to ask a question. Our next question comes from the line of Jeff Rulis of D.A. Davidson. Your line is open, Jeff Rulis. Thanks. Thank you. Hey, Jeff. Hi. Just wanted to kind of get the sense for the process of the Citywide conversion. What do you think that the customer employee sort of reaction, if any, but just, you know, I think being the first one, kind of you got through that process, any takeaways from how it shapes how you do successive conversions to come? I think you said you got four left this year. Yeah. Jeff, let me take a crack at this first, and then I'll let Bryan follow. First of all, you know, we've done a lot of M&A over the years. I mean, we've always felt that doing M&A is kind of a core competency. That's really what we're doing here, except we're using all the same systems. What we're doing here is really going from 11 different instances into one. We're going into one ABA routing number, which in Citywide's situation, their routing number didn't change because that's the routing number that we're using for HTLF Bank. Overall, we have about 22,000 duplicate accounts, which means, you know, 11,000 customers are going to need a new account. There's a complete process in place to go through that. It includes the bank leadership, and that was really the first experience at Citywide, and it went very, very well. The thing that we've learned over the years, Jeff, is you just have to communicate, and then communicate more with both our customers and our employees. What I would tell you is that the Citywide customers are very excited once we complete this project that they can utilize our branches in California and our branches in Arizona as they travel or vacation, or winter. They are very, very happy about the expanded access to our branch network. Yeah. I would just add, Jeff, I think, you know, behind the scenes from what I can see, what I hear, at least from my folks, you know, in finance and, you know, some of the operations folks, is we got through pretty well. You know, you always expect a couple bumps, and I think there probably were a couple bumps, but they were minor and, you know, they were very, you know, the type that we believe are going to be something we can cover in future ones. All that being said, as Bruce said, this first one's a little bit easier, right? It's the same charter and you know all of that. The next couple, you know, are the ones we really have our eyes on. We feel good about it. Lots of planning going on. I think the part that Bruce said about the customer communication and how we handled the duplicate accounts, if we can continue to have that work the way it did in Citywide, that will be a big positive because that's usually the biggest customer impact and we handled it well on this one. If we can keep handling those well, I think we're going to have, you know, continued success here, which we expect to and we're planning to. Great. Thanks. Switching gears a little bit, just wanted to see if there was any update on kind of the May fraud events. If there was any progress on recovery or any movement within that group of those two instances of any update on that front. Nathan, you want to take that one? Yeah, absolutely, Bruce. Well, we do look at them as one-time events, and we have continued. We took a conservative stance and quickly addressed them with the charge-offs. But we do continue to work on them from longer- term resolutions and have several positive things that have occurred that we are working very hard at along lines of, you know, establishing additional collateral, and then also working with one of the customers to work their way out of it through the general business operations. So we do feel good about that. Just nothing at this point we can start to book any offsets at this point. Bruce or Bryan, anything you'd like to add on top of that? I'm sorry, Jeff, go ahead. No, I didn't want to cut anyone off, but I, you know, as a follow on, Nathan, just wanted to kind of get a sense that through those situations, was there any procedural or structural changes that you made or kind of, you said they're one-offs, but did it kind of lead to any changes or revisiting any practices from that end? It has. We always use anything that occurs just to really sharpen our pencils and make sure that we're as clean as we can be from a credit perspective. In both instances, we've used it as a learning opportunity to really improve our overall processes and hopefully help protect us from any future issues that are similar in nature. We were able to use that as an opportunity to learn and grow from it and implement some enhancements. Okay. Maybe one last one, if I could. Just real quick on the fee income run rate. I think Bryan mentioned 32-33. That will exclude any securities gains or losses. Is that correct? Kind of treat that as a zero? Yeah, it does. You know, I kind of took that with the 3.6. Let me just find my number here so I can tell you how I thought about that. Yeah, when you get to the core and then you back out the Visa B gain. The core I was talking about was 3.67%, which excludes all gains and losses. That Visa B gain was sitting in other non-interest income, which is a category I don't back out. If you back that out, that gets you to 3.48% this quarter. If you take another 0.13 out because the Visa B share, while that's recurring every year, it doesn't recur every quarter. If you took that out, you're in about the 3.35% range. You know, as Bruce said, we expect that the syndication fees can offset the downdraft we might see in wealth management and whatever. That's how I came to kind of 33. Okay. All right. Thank you. Thank you. Our next question comes from the line of Terry McEvoy of Stephens. Please go ahead, Terry McEvoy. Hi, good afternoon, everyone. Hi, Terry. Bryan, thanks for all your thoughts on the financial outlook. I've kind of run through my list there. The one thing that caught my eye this cycle was the specialized industries that wasn't in the last quarter presentation. I'm just wondering how you manage the credit risk in some of those businesses. Some over the last, call it three to five years, have triggered some losses really across the industry, the franchise finance and healthcare in particular. I guess, you know, maybe talk about the growth and more importantly, how it's kind of smart growth for your shareholders. Yeah. Terry, I'll take that first, and then I'll let Nathan follow- up. These are, first of all, from our perspective, it's more kind of the middle market or lower- end of the middle market. It's a specialized group that we brought in who this is what they've historically done, and they play what I would call above where we've historically played at the bank level. We brought in people that are specialized in these various areas. More importantly, we also brought in corresponding talent on the credit side to match it up. We didn't just take our existing staff and say, we want to go after this market. We brought in people, and we grew the area very specific, just like the agribusiness that we acquired, where we acquired the staff out in California. We acquired both on the origination side, the underwriting side, and the credit side. We feel that if you're going to go into a new area, you need the new expertise across the board. Also, these larger type of customers are buying more of our fee services, whether it's in treasury management, whether it's retirement plan services, interest rate swaps, the ability to do syndications. They're really or our corporate card business, which was up pretty dramatically on a year-over-year basis. We feel that that is the, a segment of the business to grow. We'd love about a third of our business to come from sort of traditional bank activity, about a third from the specialized group, and about a third from the agribusiness group until that group builds its portfolio, and then that would slow down. Nathan, you want to maybe address how you supported it on the credit side with additional analytics and talent? Yeah, absolutely, Bruce. As Bruce kind of noted, we do have a dedicated credit team within our organization that's really dedicated against our HSI, our specialized industries group. They are some of our strongest talent and most experienced. Even on that, we've really gone through and done very, very exacting and detailed work to make sure that we have really strong supporting guidance, and then providing the necessary support and analytics to make sure from what we feel is really top quartile. We're really not leaning in hard from a credit perspective, but more making sure we're getting that top quartile so we're not taking significant credit risk there. What we're taking, we have pretty significant analytics and support behind it, along with a strong credit team that's able to evaluate and make sure that we understand the risk we are taking. Yeah. Thank you both for that. The other thing I'd mention. Yep. Yeah, Terry. The other thing I'd mention is the risk rating of that portfolio and those originations. The quality of the credit is better than the rest of our portfolio. That's really part of the strategy. We wanted to go upmarket a little bit in part of our originations, not ignoring anything else that we do. We want to really do it all. The credit quality is the key, along with the dedicated credit staff that Nathan described. Bruce, a follow-up. You know, where do you need to be in the charter consolidation before you seriously look at any M&A opportunities? I know M&A is in the company's DNA, but also once the conversion is complete. You know, as you talk about, there's just increased capacity to really drive that future growth. Yeah. I mean, the reality is with the uncertainty in the economy right now, I think, you know, any M&A is really a 2023 type scenario. However, what I would say is that. The way that we have built the charter consolidation is that any strategic M&A that we would have that would be on the bank side, not a fee business of some sort, we could stop the charter consolidation and work on the M&A and then go back to the charter consolidation. I mean, the reality is we're going to be halfway through it by the start of 2023. If an opportunity came up, we would be ready to do it in 2023, an M&A transaction, Terry. Great. Thanks again. Have a nice night. Thank you, Terry. Thank you. As there are no further questions at this time, I would like to turn the call back over to Mr. Lee for closing comments. Thank you, Latif. The HTLF board of directors has approved a quarterly cash dividend of $0.27 per share on the company's common stock, an 8% increase from a year ago. The dividend is payable on August 26th, 2022. HTLF is moving forward together. We have momentum. We're executing our strategies, which are delivering excellent results. In the Q2, organic loan growth increased $552 million or 5%. Total deposits increased $559 million to a record $17.2 billion. Total assets are a record $19.7 billion, an increase of $428 million. Our efficiency ratio decreased significantly to 57.7%. Our strategic investments in acquiring and retaining talent are delivering strong organic growth and excellent credit quality. We continue executing charter consolidation to deliver efficiency and unlock capacity for future growth. Thank you for joining us. Our next quarterly earnings call will be in late October. Have a good evening, everyone. That does conclude today's conference. Thank you for your participation. You may now disconnect.