Your line is muted. Good morning, and welcome to the Origin Bancorp, Inc. Q3 earnings conference call. The format of this call includes prepared remarks from the company, followed by a question and answer session. Please note that all participants will be on a listen-only mode until the Q&A portion of the call. Please note, this event is being recorded. I will now like to turn the call over to Chris Reigelman, Director of Investor Relations. Please go ahead. Good morning, and thank you for joining us today. We issued our earnings press release yesterday afternoon, a copy of which is available on our website, along with the slide presentation that we will refer to during this call. Please refer to page 2 of our slide presentation, which includes our safe harbor statements regarding forward-looking statements and use of non-GAAP financial measures. For those joining by phone, please note the slide presentation is available on our website at www.origin.bank. Please also note that our safe harbor statements are available on page 5 of our earnings release, filed with the SEC yesterday. All comments made during today's call are subject to safe harbor statements in our slide presentation and earnings release. I'm joined this morning by Origin Bancorp's Chairman, President, and CEO, Drake Mills; President and CEO of Origin Bank, Lance Hall; our Chief Financial Officer, Wally Wallace; Chief Risk Officer, Jim Crotwell; our Chief Accounting Officer, Steve Brolly; and our Chief Credit and Banking Officer, Preston Moore. After the presentation, we'll be happy to address any questions you may have. Drake, the call is yours. Thanks, Chris. Origin reported solid earnings this quarter as our team remained focused on executing our strategic plan and delivering for our customers and communities. Economic activity is robust throughout our markets, and our credit metrics remain clean. As we've seen throughout the industry, the deposit environment remained extremely competitive. Even with that, I'm optimistic that our bankers will continue to bring new deposit relationships to the bank. This quarter's results exceeded our expectations, as pre-tax, pre-provision upside was driven by margin stability. We executed a trade in our securities portfolio late in the quarter that will benefit our net interest margin and EPS moving forward, and allowed us to pay down borrowings, which reduced our asset size. As I discussed last quarter, we remain strategic in managing below the $10 billion threshold through this year and finished the Q3 with total assets of $9.7 billion. I'm also extremely proud of our credit trends, as classified assets decreased 20% from the linked quarter and NPAs were stable. Both tangible book value and our tangible common equity ratio grew again this quarter, ending the quarter at $26.78 and 8.7%. Even with broad uncertainty from a macro perspective, I'm confident in Origin's ability to deliver value for our stakeholders. We have strategic options to drive positive financial results, and our increased focus on pricing discipline is paying off. We are effectively managing our operating expenses, which will have additional benefits moving forward. As I've consistently communicated, we are uniquely positioned throughout our footprint to capitalize on growth opportunities in the major metros and expand market share in our more rural markets. We have the right bankers in the right markets to drive long-term value for this company, and I'm very confident in our ability to be successful. Now I'll turn it over to Lance. Thanks, and good morning. Drake is correct that the battle of deposits is fiercely competitive throughout our markets. Origin's mix of rural deposits, as well as our deposit-focused incentive plans, coupled with treasury management and deposit-focused calling officers, benefits us in a powerful way. We are competing every day to protect valuable relationships and are doing a good job of driving new deposit clients to the bank. The June 30, 2023 FDIC Annual Deposit Market Share Report highlights our value proposition and the strength throughout our dynamic markets. Origin's ability to maintain deposits has been dramatically better than the banking industry as a whole in our footprint. During the 12-month period where industry deposits declined 8.7% year over year, even backing out our brokered deposits, Origin's deposits declined by just 0.8% over the same period. Digging deeper into these numbers, the Louisiana results continue to show the value and strength of our rural deposit base. With number one market share across our six parishes combined, we were able to grow $24 million, excluding brokered deposits, while overall deposits in these parishes dropped $1.1 billion. I'm proud of our team for the results and what they continue to do to drive value for this company. To help further strengthen these positive trends, this past quarter, we implemented a new deposit initiative that incentivizes our bankers on core deposit growth. This is in addition to our existing incentive plan that is already weighted toward deposits. With this new initiative, we have seen success throughout our lending and retail teams as our net new account openings continue to grow, up 8.2% year-over-year. Also, new customer acquisition accelerated in the Q3, up 35% year-over-year. We continue to target a loan-to-deposit ratio of 90% or less, excluding mortgage warehouse, and ended the quarter at 87%. We remain focused on client selection and have been disciplined in our loan pricing, with new loans yielding over 8% throughout the quarter. Our focus on deposit gathering and loan pricing should continue to support our efforts to stabilize our margin moving forward. Now, I'll turn it over to Jim. Thanks, Lance. As reflected on slide 12, I am pleased to report solid credit metrics for the quarter, as evidenced by stable levels of both past dues and nonperforming loans, and a decrease in our level of classified loans. ...Past due loans held for investment came in at 0.27% as of September thirtieth, which is right in line with the 0.26% reflected for the prior quarter end. Non-performing loans as a percentage of loans held for investment declined slightly, coming in at 0.42% as of September thirtieth, compared to 0.44% as of June thirtieth of this year. I'm especially pleased with the reduction reported in classified loans held for investment from 1.11% last quarter to 0.85% as of September thirtieth. As we discussed last quarter, we continue to diligently monitor our loan portfolio and proactively address any identified issues. As a result of these efforts, for the quarter, we were able to achieve a $20 million reduction in classified loans, which was primarily due to payoffs, with upgrades providing additional benefit. I would also like to mention that during the Q3, we completed our annual third-party loan review. The outcome of this review was only one rating adjustment in the past category on a $250,000 credit. As such, I continue to be very pleased with the effectiveness of our internal loan rating process and portfolio management. Annualized net charge-offs for the quarter came in at 0.14%, compared to a level of 0.10% for the prior quarter, and was in line with expectations. For the quarter, our allowance for credit losses increased $824,000 to $94.2 million, increasing from 1.24% to 1.26% as a percentage of total loans held for investments. Net of Mortgage Warehouse, our reserve ratio reduced slightly from 1.32% as of June 30th to 1.30% as of quarter end. This reduction was primarily driven by the improvement in levels of classified loans mentioned previously. As to reserve levels, and as discussed in previous quarters, we continue to balance our sound credit quality and the resilience of our loan portfolio with continued economic headwinds. On Slide 13, we have updated the additional information on our CRE office portfolio that we have shared for the last two quarters. As of September 30th, this segment of our portfolio totaled $363.5 million, with an average loan size of only $2.1 million. The credit profile of this segment continues to be sound, reflecting a weighted average loan-to-value of 60.3%, no past dues, no classifieds, no non-performing, and no charge-offs. This segment of our portfolio continues its sound performance, driven by our constant focus on relationship banking. In summary, we continue to be pleased with our credit performance and our strong and stable credit profile. I'll now turn it over to Wally. Thanks, Jim, and good morning, everyone. Turning to the financial highlights, in Q3, we reported diluted earnings per share of $0.79. On an adjusted basis, Q3 EPS were $0.71, after excluding a $10.1 million write-up on an equity investment and a $7.2 million loss on securities sold during the quarter. Starting with deposits, total deposits declined 1.4% during the quarter. We continued to see a shift of non-interest-bearing deposits into interest-bearing accounts. Non-interest-bearing deposits declined 5.4% this quarter, and the mix fell to 24% of total deposits in Q3, from 25% in Q2 and 28% in Q1. Importantly, the pace of the decline in Q3 was a slight deceleration from the pace we saw in the H1 of the year and was better than our expectations, though we do continue to forecast some additional mix pressure over the next couple of quarters to our non-interest-bearing deposit mix. Ultimately, combined with the continued need to price up interest-bearing deposits, our total deposit beta increased again, though at a slowing rate from 35% in Q1 to 42% in Q2 and 47% in Q3. We continue to expect our deposit beta will increase in the Q4. Importantly, loan pricing discipline and a positive shift in the earning asset mix helped offset funding cost pressures and drove stabilization in our net interest margin, which contracted just 2 basis points during the quarter to 3.14%. Excluding net purchase accounting accretion of $530,000 in Q2 and purchase accounting amortization of $38,000 in Q3, our adjusted NIM was flat at 3.14% for both quarters, better than our expectations. As Drake mentioned earlier, at the end of the quarter, we decided to execute a strategic trade in our securities portfolio. We sold securities with a book value of $182 million at a realized loss of $7.2 million, and we paid down FHLB advances with the proceeds. This strategy served the dual purpose of, one, boosting forward margin and EPS results in a financially attractive manner, and two, providing ample balance sheet room to manage our assets below the important $10 billion threshold through year-end. With the net interest income benefit we received from the trade, we estimate a standalone NIM benefit of 11 basis points and a 1.7-year earn back period on the realized loss. While our continued expectation of deposit mix and pricing pressures will eat away at some of the 11 basis point NIM benefit provided by the trade, our current expectations are that 3Q NIM of 3.14% may represent the trough. Shifting to fee income, we reported $18.1 million in Q3. Excluding the previously mentioned $10.1 million write-up on an equity investment and $7.2 million loss on securities sold, our adjusted fee income was $15.2 million in Q3, flat from $15.2 million in Q2, which excluded a $471,000 gain on the retirement of sub debt. Our noninterest expense also remained relatively stable at $58.7 million in Q3, down slightly from $58.9 million in Q2. We remain focused on operating expense management and continue to expect relatively stable expense levels in the Q4. Turning to capital, we note that our TCE ratio remained above 8% for the fourth consecutive quarter, ending at 8.7%, as slight growth in tangible common equity, coupled with a decline in tangible assets due to the securities trade at the end of the quarter. Furthermore, as shown on slide 22 of our investor presentation, all of our regulatory capital levels, at both the bank and holding company levels, remain above levels considered well capitalized, even if we were to include our AOCI loss in the calculations. As such, we remain confident that we have the capital flexibility to take advantage of any potential future capital deployment opportunities to drive value for our shareholders. With that, I'll now turn it back to Drake. Thanks, Wally. Our story is unique, and we have proven throughout our history that we can successfully navigate cycles. We operate in thriving growth markets with diverse economies. We have a seasoned management team that is committed to our culture and has a shared vision of who we are and what we can be. Our credit profile is strong, and our rural deposit base has provided the foundation to capitalize on growth opportunities. To say I am pleased is an understatement as I think about our company's trends and the overall performance of our people in the midst of current conditions. Thank you for being on the call today. Now we'll open the call for questions. Thank you. At this time, we will conduct the question and answer session. If you would like to ask a question, please press star one on your telephone keypad to enter the queue, or if you've joined via web, please press the Raise Hand icon on the right-hand side of your Duo Retros screen. Again, that's star one on your telephone keypad to enter the queue, or the Raise Hand icon on the right-hand side of your Duo Retros screen. Our first question comes from Matt at Stephens. Matt, your line is open. Hey, thanks. Good morning, everybody. Good morning, Matt. Wanted to start on loan growth. Saw some really good trends in the Q3, and it sounds like some of the loan growth trends in Q3 maybe even surprised you guys. Anything to note there, especially in the utilization rates, any shift there? And then as you look at the pipeline, how are you thinking about loan growth in the Q4 into 2024? Thanks. Yeah. Hey, Matt, good morning. This is Lance. No, I think it was a little bit of timing. We picked up probably a little bit more in Q3 than we thought would be in Q4. I looked at the line utilization, and it's right at 50%, so it was a 1% change from 49 to 50, so not a big shift there. I think it's just the timing around some projects. Wally and his team have already forecasted Q4, and we're looking at about 1.2% growth in the quarter for four, which would be, you know, right under 5% annualized, which I think is kind of right in line with where we thought we would be. And, Lance, as you think about 2024, any shift or updates from that, kind of that mid-single digit range, that for the Q4? Is it, you know, can we assume that trend could hold maybe for a few more quarters beyond then? Yeah, I would, as I sit here today, I think that's what we're going to think about for 2024. And again, as we've talked about, for us, it's all about our ability to maintain the right loan-to-deposit ratio, making sure we're getting the right loan yields and managing to the appropriate NIM. You know, it's a challenge in the fact that we have dynamic markets, and we continue to see growth opportunities in Texas that are attractive, but we've got to be very strategic and smart in the way that we manage our loan deposit ratio. And Matt, this is Drake. I want to make a point again, I did last quarter, that strategically, we are committed to and are focused on managing sub 90% loan deposit ratio, ex mortgage warehouse. So that's, as I've said in the past, for years, we had to run higher levels than that because of our expansion into de novo markets. But we do feel like long haul multiples are better in that space, and we're going to commit to that strategy. Yep. Okay, I appreciate that, Drake. And on the credit front, really good report on the classified loans coming down this quarter. I think a lot of your peers are going the opposite direction, so that's great to see. Jim, I think you mentioned that the payoffs were a big part of that. Any more color on that? Did those borrowers pay off the loans themselves? Was it refinanced at a separate bank? Just kind of any color on that drop of classified loans. Right. Most of that was, I would say a bit split between, just refinancing into other financial institutions, and also, we had one relationship where they actually sold a portion of their business, and so it results in proceeds from the sale. So, so just really good results, Matt, from a lot of work, you know, over the last several quarters, it came to fruition for us in the Q3, and we saw some nice reductions in some credits that we would like to see some reductions in. So it worked out well. Okay, appreciate that. And then just lastly, I heard Wally's comments there at the end about being ready for capital deployment opportunities, kind of a broader comment. Didn't know if Wally or Drake or anybody else wanted to kind of just stack order or kind of update us on the kind of capital strategy deployment thoughts here. Thanks. Yeah, Matt, Drake, it's, there is a number of opportunities that continue to, you know, present themselves. You know, and I'm not going to stack rank these opportunities, but we certainly have conversations around M&A that continue, disconnected from a couple. We also have market expansion opportunities through lift-out scenarios that could come our way that are very attractive. We also are starting to look at sub-debt as an opportunity to deploy the excess capital as we look at the burn-off rates of the capital utilization and those opportunities, and also looking towards 2025 and 2026 as we see some of the sub-debt start to reprice. We think there's a number of opportunities that we are going to make the best effort to deploy that capital that's most beneficial to our stockholders at this point. But we're really pleased with the overall opportunities as a whole. Okay. That's all for me. Thanks, guys. Thank you, Matt. Thank you. Our next question comes from Michael at Raymond James. Michael, your line is open. Hey, good morning, guys. Thanks for taking my questions. Wally, I think I heard you that you said that the Q3 may be the trough for the NIM. I just wanted to get a sense if that was inclusive or exclusive of all the restructuring quarter, and then maybe separately, just on the betas. I think you guys had kind of talked about, you know, 50%, you know, beta by the end of the year. Is that still kind of in the thinking and kind of what your expectations for kind of NIM mix as we move forward? Thanks. Yep. Morning, Mike. So maybe the way to think about this is to take the securities trade out of the equation right now. In that scenario, we do—we are modeling that the noninterest-bearing deposit mix will continue to decline. We're gonna stick around the same level that we said last quarter, which is low 20s%. That, on a standalone basis, would add pressure to the net interest margin. But then you add in the 11 basis points from the securities trade, and we think net interest margin expands in the Q4, probably get more than half of that 11 basis points. And then I think we're in the process of bottoming, and we don't see the pressure going down further than where we reported in the Q3. So we think the Q3 could be the bottom for us because of the benefits of the securities trade. Very clear. Thanks, Wally. And then just maybe as a separate, I know Matt asked about loan growth, but just wanted to talk about the warehouse specifically and what the expectations, you know, might be, you know, as we move forward. Yeah, this is Drake. Mike, how you doing? We ended up with the quarter, I think, around $286 million, and we're -- we think in the Q4, we'll come in between $225 million and $250 million, based on a couple scenarios. We're still looking very closely at quality of those relationships, and we, at one point, had a high of, I think, 43 relationships or clients, now we have 35. So our team's done an excellent job. It's one of our better ROA earners in our organization. So they've reduced that, like I said, it's 35 clients. I'd say the bottom was $225 million, and maybe the upside is $250 million. Very helpful. Thanks, Drake. And maybe just finally for me, you guys have an insurance business. We've seen a couple sales here. Just doing some back of the envelope math, looks like, you know, you could get about $120 million if you sold it at a 5x revenue multiple. Just wanted to get your thoughts there, and, you know, just, just general, what you think about the insurance business. Thanks. You know, I still believe there's a lot of value in non-interest income and continuing to push. We have some opportunities to, I think, in 2024 to potentially enhance our levels of non-interest income. I like that business a lot. I like the relationships we have within those agencies. I love the fact that we are able to cross-sell those relationships. We have a great relationship out of Shreveport, Bossier in the Pooley- White group that does a great job. We're going through a potential branding opportunity here. So, you know, for me, long haul, I love the business. I love what it does for this organization, and I just wouldn't say that's something that we're truly considering at this point. All right. Thanks for the call. Appreciate you taking my questions. Thank you. Our next question comes from Kevin at D.A. Davidson. Kevin, your line is open. Hey, good morning, guys. I'm just curious about, you know, you mentioned earlier about one of the considerations with paying down borrowings with the bond restructuring proceeds, was that keeping the balance sheet size below $10 billion as you cross year-end. As you look out with one quarter left, do you feel incrementally more comfortable at coming in below that, or are there other kind of things you need to be looking at this next quarter in terms of, you know, does it limit the amount of loan growth you put on? Does it, just, just trying to think through what restraints you might have this next quarter to ensure you meet that goal. Thanks. Morning, Kevin. I think if you look at the size of our balance sheet at September 30, after we paid down the FHLB, we feel highly confident that we can stay under $10 billion without having to make any decisions that would limit growth in the loan portfolio or anything like that. We feel pretty comfortable where we are. Okay, that's what I thought. I just wanted to make sure. And you mentioned earlier, I think Drake might have mentioned earlier, that you know, expenses are a priority, and you're looking at that. And you know, when revenues are under pressure, obviously you want to limit that growth. Are there any specific initiatives that you have going on right now or are contemplating that you can give any color on for that? Thanks. Yeah, we are. There's no stone we're not turning over to look at opportunities right now from an expense standpoint. Lance and his team, I think, are doing an awesome job of everything from personnel or non-productive people to another different things that we're doing. And our focus here is to try to create a flat expense environment over the next several quarters. And what I mean by that is, we have opportunities to do a few things that would increase expenses, but yet long haul, significantly increase revenue opportunities for us. So if we can mine the expenses at this point and create this environment moving forward in a flat environment, that's a big win for us because we are creating what I think are ROE opportunities for us, utilizing expenses, but yet on the back end, cutting out non-productive expenses. Drake, those opportunities, I'm assuming, are kind of like lift-out potential, like you said it before? Yes. Okay. And one last one for me, just, and I apologize if you covered this already earlier, but just in terms of credit quality, we've had some, you know, instances of banks seeing some problems spike up. Granted, we're coming off a low base. So maybe if you could just address, are there any areas you're specifically concerned with and limiting your exposure to? And if you could also address your SNC exposure and what that is as a% of loans, just given that we've had some larger banks report or, you know, were involved in a problem loan there. Thanks. Okay, thanks. Yeah, you know, I wish there was a more precise way to tell you this is where I'm very concerned about credit. It's amazing how resilient... I said office was a big concern of mine. Certainly for us, we're not seeing any deterioration in that area, and we continue to stress those levels pretty heavily. We're fortunate that we don't have a lot of concentration in metro, you know, office. I said anything that had to do with consumer spending and retail, especially around the restaurant and motel, I'd be concerned about. We're not seeing deterioration there, which is surprising. We are seeing a little bit of, not a little bit, a lot of weakness in the automobile area. Our dealerships are holding up well. We don't have a tremendous number of those. Had a conversation with a dealer, and it is really impacting those sales. But overall, there's not a single area with the exception, and we cleaned that up, of assisted living, and we just have a couple of credits left in that portfolio. So I'm very pleased with not only what we're seeing as far as quality, but the depth of analysis that we're doing from a stress standpoint in our portfolios and how well those cash flows are holding up, you know, as we continue to stress them up. But from that, I think Jim is going to address the SNC percentages because we just don't have a big SNC portfolio. Jim? Good morning, Kevin. Right now, we only have 11 relationships, about $153 million in the SNC portfolio. And I would say these are really relationship-driven opportunities that we have. So while they meet that criteria, we have relationships with all of these. So, you know, and to echo what Drake said, as we go through the portfolio and look at the various areas, obviously, we're relationship-focused. And, you know, I've shared before when, you know, the analysis, you know, when we look at sectors and look at the overall guarantor support, you know, it just really, really does point out the, I think, the resiliency of the portfolio and, and the relationship focus that we've had. So be happy to address any other questions you may have, but right now, we feel really good about the resiliency of our portfolio. That's great. Thanks very much. Thank you. Once again, if you would like to ask a question, please press star one on your telephone keypad to enter the queue. And if you have joined via web, please press the Raise Hand icon on the right-hand side of your dual retro screen. We'll pause briefly to allow any questions to generate. Our next question comes from Graham at Piper Sandler. Graham, your line is open. Hey, good morning, guys. Good morning, Graham. So I just wanted to circle back to the, the bond transaction quickly. Obviously, pretty attractive financially. There's a little bit of a capital hit, but you guys have plenty of that, right now. Would you consider doing any more of this, or a similar transaction in the future? I know borrowings aren't huge anymore, but maybe you could pay down some brokered or, or reinvest the cash flows elsewhere. What, what are your thoughts on, I guess, additional, transactions like this one? Graham, the way we're approaching that decision strategically is purely around the period of time it takes to pay back the realized loss. We believe that if we have the opportunity to deploy capital in a manner that would pay back a loss less than two years, that that is an attractive period that we should consider. Rates have obviously moved against us so far this quarter. But if we see opportunity, we will jump on it. Okay, that's helpful. And then I guess just Drake, I think you mentioned some lift out opportunities and maybe some market expansion opportunities. What sort of markets are you interested in today? And what would be the size or the scale of the level of team you would want to bring on? Yeah, you know, that's kind of open. As you know, we're highly interested in Texas, investing in Texas, and continue to see significant growth. I think 90% of our loan growth this past quarter was Texas. So there are Texas opportunities that we will continue to look at. And, you know, it's the size of these teams aren't going to be something to the point where we look at how many people. We really look at the deposit portfolio and also their relationships on the loan side. Do they fit with us? Is it C&I? That's what we look for. And in these cases, I would think if I was an investor, and I am, that it's much easier to look at a billion-dollar team that has, let's say, deposits and C&I loans and be able to manage through that instead of the M&A deal. So, we've got a couple opportunities that might add up to that, but again, we're still in the negotiation process. Okay, appreciate it. All my other questions have been asked. Thanks, guys. Nice quarter. Thank you. Once more, if you would like to ask a question, please press star one on your telephone keypad to enter the queue, or if you joined via web, please press the Raise Hand icon on the right-hand side of your dual retro screen. Our next question is a follow-up from Matt at Stephens. Matt, your line is open. Yeah, thanks for taking the follow-up. I want to make sure I understand these new disclosures around repricing the loan and securities portfolio on slide 15. It looks like you're expecting the cash flows from the securities portfolio around, call it, $290 million over the next year. I guess the first question is, can we just assume that these maturities will continue to help fund the organic loan growth during this time? Yeah, Matt, that, that is exactly what our expectation is. We, as you know, the, the deposit side of the institution, is where the battle is, and we're, we're basically governing our, our loan growth and, and a lot of excellent opportunities in our footprint. We don't see that necessarily slowing down, so any opportunity we have to redeploy, you know, a 2%, you know, instrument into an 8%-10% loan, we're going to take advantage of that, and that's our plans at this point. Go ahead. Matt, you bring up a good point. I think it's important to remember the asset side of the NIM equation. You know, as we continue to have deposit pricing pressures, we have been extraordinarily focused on the pricing of new loans, and we're pretty proud at how disciplined our lenders have been. New and renewed loan yields are coming in the mid-eights, as Lance mentioned in his prepared remarks. And obviously, as Drake mentioned, as securities roll off in the twos, you know, that's a pretty attractive redeployment opportunity. So if you look at the Q4 and next year, we have a sizable amount of principal coming out of the securities portfolio and principal coming out of the loan portfolio that will give us the opportunity to reprice, you know, on an average basis, the price coming off is in the fours, and it's coming back on in the eights. So that's what gives us a pretty good comfort in our commentary around the margin moving forward. Mm-hmm. Yep, good point, Wally. Thanks. Appreciate that. And I want to make sure I understand the disclosures on the loan repricing side. I think we're all trying to appreciate for Origin and other banks the level of the fixed asset repricing we should anticipate going forward. And looking at slide 15, I see there's about $3.4 billion of loans repricing over the next year. And on the right-hand part of that slide, it looks like there's about $3.3 billion of loans that are floating. So I guess the question is, you know, trying to appreciate kind of how much of those loans that are repricing but are not floating is it just the 3.4 minus the 3.3, so call it $100 million of fixed-rate loans set to reprice over the next year? Is that the right way to look at that? I'll make it, I'll make it, easier for you, Matt. Over the next five quarters, we've got $500 -600 million in principal coming out of securities and loan portfolio. $500-$600, and that includes loans and securities? Yes. Perfect. Okay, that's what I'm looking for. Appreciate that, Wally, and everybody else, and thanks for your time. Thank you, Matt. Thank you. This concludes the Q&A. Handing it back to Drake Mills for any final remarks. I want to thank everybody for the time today. I want to close with saying that I am extremely positive about the outlook for our company. When you look at, we are in the process of really getting the first year behind us with our BTH transaction. What a wonderful group of people that we brought on. What they bring to us in East Texas, Dallas-Fort Worth, has been extremely valuable, and we appreciate the process we've gone through there. We've been very successful with that. Our geography, strong economies, attractive demographics, our team. I've never been more proud of the experience, the cohesive, you know, work that we have. Just a true love for each other that we work through. Our credit profile is strong. Client selection is really good. We're focused on yields. Our teams are doing extremely well. Deposit base, rural deposits continue to show their value. We're deepening relationships on every side of, in each one of our markets. The opportunities we have in our geography and the opportunities we have for expansion continue to impress me. So I appreciate very much the investment you have, the time today, and we're open for questions at any time. Appreciate the relationships, and thank you for being on the call. This concludes today's conference call. Thank you. Have a great day. The host has ended this call. Goodbye.