Business First Bancshares Inc (BFST) 2023 Q1 法說會逐字稿

Good afternoon. My name is Christy and I will be your conference operator today. At this time, I would like to welcome everyone to the Business First Bancshares' Q1 2023 Earnings Conference Call. (Operator Instructions)

下午好。我叫克里斯蒂，今天我將擔任你們的會議操作員。此時此刻，我謹歡迎大家參加 Business First Bancshares 的 2023 年第一季度收益電話會議。 （操作員說明）

Matt Sealy, you may begin your conference.

馬特·西利，你可以開始你的會議了。

Thank you, Christy. Good afternoon and thank you all for joining. Earlier today, we issued our first quarter 2023 earnings press release, a copy of which is available on our website, along with the slide presentation that we will refer to during today's call.

謝謝你，克里斯蒂。下午好，感謝大家的加入。今天早些時候，我們發布了 2023 年第一季度收益新聞稿，該新聞稿的副本以及我們將在今天的電話會議中參考的幻燈片演示文稿可在我們的網站上獲取。

Please refer to Slide 3 of our presentation, which includes our safe harbor statements regarding forward-looking statements and the use of non-GAAP financial measures. For those of you joining by phone, please note the slide presentation is available on our website at www.b1bank.com.

請參閱我們演示文稿的幻燈片 3，其中包括我們有關前瞻性陳述和非 GAAP 財務指標使用的安全港聲明。對於通過電話參加的人士，請注意幻燈片演示文稿可在我們的網站 www.b1bank.com 上獲取。

Please also note our safe harbor statements are available on Page 7 of our earnings press release that we filed earlier today with the SEC. All comments made during today's call are subject to the safe harbor statements in our slide presentation and earnings release.

另請注意，我們的安全港聲明可在我們今天早些時候向 SEC 提交的收益新聞稿的第 7 頁上找到。今天電話會議期間發表的所有評論均以我們的幻燈片演示和收益發布中的安全港聲明為準。

I'm joined this afternoon by Business First Bancshares President and CEO, Jude Melville, Chief Financial Officer, Greg Robertson; Chief Banking Officer, Philip Jordan; and Chief Administrative Officer, Jerry Vascocu. After the presentation, we'll be happy to address any questions you may have.

今天下午，Business First Bancshares 總裁兼首席執行官 Jude Melville、首席財務官 Greg Robertson 也加入了我的行列。首席銀行官 Philip Jordan；和首席行政官傑里·瓦斯科庫（Jerry Vascocu）。演示結束後，我們將很樂意解答您的任何問題。

And with that, I'll turn the call over to you, Jude.

裘德，我會把電話轉給你。

Okay. Thanks, Matt, and thanks, everybody, for joining us. We recognize it takes energy and effort and commitment, particularly as we near the end of a busy earnings season. And we appreciate the opportunity to provide color to our story.

好的。謝謝馬特，也謝謝大家加入我們。我們認識到這需要精力、努力和承諾，特別是在繁忙的財報季即將結束之際。我們很高興有機會為我們的故事增添色彩。

Before we get into the details of the quarter and thoughts about future projections, I'd like to take just a second to zoom out to a big picture perspective.

在我們詳細了解本季度的細節和對未來預測的想法之前，我想花一點時間來回顧一下全局。

Ultimately, we're not working to put up a number for a quarter or 2. We're working to build a sustainable franchise that produces value for our multiple constituents over time. We've made a number of investments over the past few years with this end in mind. And I want to give you an update on where we are relative to our longer-term goals. Particularly on the significant progress we've made over the past year.

最終，我們不會努力提供一個季度或兩個季度的數字。我們正在努力建立一個可持續的特許經營權，隨著時間的推移為我們的多個成員創造價值。為了實現這一目標，我們在過去幾年中進行了多項投資。我想向您介紹我們相對於長期目標的最新情況。特別是我們在過去一年中取得的重大進展。

And we've been working towards 3 primary objectives: First, diversification of risk; second, growth to a meaningful size; and third, increasing our earnings power. On diversification of risk, we've primarily chosen to accomplish this through geographic expansion into Texas, not a retreat from Louisiana, where we're still the largest domicile bank as measured by deposits, but an expansion into Texas.

我們一直在努力實現三個主要目標：第一，分散風險；其次，增長到有意義的規模；第三，增強我們的盈利能力。在分散風險方面，我們主要選擇通過向德克薩斯州進行地理擴張來實現這一目標，而不是從路易斯安那州撤退，以存款衡量，我們仍然是路易斯安那州最大的註冊銀行，而是向德克薩斯州擴張。

We've had significant success in organic development of the Dallas market growing to almost $1.3 billion in loans, which makes it our largest single metro area by exposure and nearly $300 million in deposits over 4 locations. We're for real in the country's most vibrant market at a greater scale than we imagined when we denovoed in 5 years ago. Additionally, over the past year, we successfully integrated our Houston acquisition into a meaningful part of our team, growing the acquired asset base, securing and integrating the team, while achieving our projected cost savings along the way.

我們在達拉斯市場的有機發展方面取得了巨大成功，貸款額增長到近 13 億美元，這使其成為我們風險敞口最大的單一都市區，並在 4 個地點擁有近 3 億美元的存款。我們真正進入了這個國家最有活力的市場，其規模比我們五年前剛開始時的想像還要大。此外，在過去的一年裡，我們成功地將休斯頓收購整合到我們團隊的一個有意義的部分，擴大了收購的資產基礎，保護和整合了團隊，同時實現了我們預計的成本節約。

With the 2 markets combined, our Texas exposure is now 37% of their credit book ahead of our timeline. As we've all been reminded over the past few weeks, though risk is not just asset-based, it's also found in the makeup of our liabilities. With that in mind, I'd point out the work we've done on a new slide in our deck, #9, Slide #9, in which we detail our liquidity profile, low uninsured levels, high granularity of accounts and no measurable slippage over the recent volatile times.

將這兩個市場加起來，我們在德克薩斯州的風險敞口目前已提前達到其信用賬簿的 37%。正如過去幾週提醒我們的那樣，儘管風險不僅與資產有關，而且還存在於我們的負債構成中。考慮到這一點，我想指出我們在幻燈片 #9 中的新幻燈片上所做的工作，其中我們詳細介紹了我們的流動性狀況、低無保險水平、高粒度賬戶以及不可衡量的情況。在最近的動盪時期出現下滑。

This is our longer-term strategy of combining growth of credit in the west with stability of deposits in the east and its working. Second, meaningful size, all of the current pressures point towards the importance of scale. And it's likely that even more scale will be required to maintain efficiencies required to offset the cost of managing with higher levels of liquidity.

這是我們把西部信貸增長和東部存款穩定結合起來的長期戰略。其次，有意義的規模，當前所有的壓力都指向規模的重要性。而且很可能需要更大的規模來維持效率，以抵消更高流動性水平的管理成本。

Slide 10 demonstrates our approach toward achievement of scale is a combination of organic and acquired assets. We're sometimes labeled a roll-up story. But that's really a function perhaps of our not telling our story clearly enough. And hopefully, this slide will help with that. We do look to partner with certain institutions when the time is right for both parties. But those efforts are complementary to our organic efforts, not a replacement for them. You'll see on Slide 10 that our annualized deposit CAGR since 2015 is 26%, a large number, but our un-acquired growth has been 16%, also a very healthy number.

幻燈片 10 展示了我們實現規模化的方法是有機資產和收購資產的結合。我們有時被貼上捲起故事的標籤。但這實際上可能是因為我們沒有足夠清楚地講述我們的故事。希望這張幻燈片能對此有所幫助。我們確實希望在雙方都合適的時候與某些機構合作。但這些努力是對我們有機努力的補充，而不是替代它們。您會在幻燈片 10 中看到，自 2015 年以來，我們的年化存款複合年增長率為 26%，這是一個很大的數字，但我們的非獲得性增長為 16%，也是一個非常健康的數字。

More to the point of the current period, you'll see that the number of accounts we've grown is heavily weighted towards smaller accounts at a ratio of nearly 50:1. When we set out on our most recent 5-year plan, we aim to double in size to $7.4 billion in assets, at $6.2 billion at the end of this quarter were ahead of schedule and we've done it in what we believe to be the right way.

就本期而言，您會發現我們增長的帳戶數量主要偏向小型帳戶，比例接近 50:1。當我們制定最近的 5 年計劃時，我們的目標是將資產規模擴大一倍，達到 74 億美元，在本季度末達到 62 億美元，這已經提前完成，而且我們已經按照我們認為的目標完成了這一目標。正確的方式。

Finally, profitability, our first quarter is traditionally our least profitable quarter. So there's been a light and expected step back in profitability relative to the fourth quarter of 2022, but year-over-year, we've increased tangible book value. We've increased pre-provision pretax income considerably. And we've increased EPS even while adding shares through the Texas Citizens Acquisition and the capital -- raised in the fall.

最後，盈利能力，我們的第一季度傳統上是盈利最少的季度。因此，與 2022 年第四季度相比，盈利能力出現了預期的輕微回落，但與去年同期相比，我們的有形賬面價值有所增加。我們大幅增加了撥備前稅前收入。即使通過德克薩斯公民收購和秋季籌集的資金增加了股票，我們也增加了每股收益。

We expect to be capital accretive next quarter. And now that we've achieved a footprint of enough size and geographic diversity that we can be certain of our staying power. We expect to prioritize increasing our returns relative to capital over the coming quarters and years.

我們預計下季度將實現資本增值。現在我們的足跡已經達到了足夠的規模和地理多樣性，我們可以確定我們的持久力。我們預計在未來幾個季度和幾年裡優先考慮提高相對於資本的回報。

So big picture, I'd argue we've accomplished a tremendous amount of franchise building over the past year and years. And I want to make sure our team knows how proud I am of those efforts beginning to come to fruition.

總體而言，我認為在過去的一年和幾年裡我們已經完成了大量的特許經營建設。我想確保我們的團隊知道我對這些努力開始取得成果感到多麼自豪。

With that said, I'll focus briefly on quarterly highlights before turning it over to Greg for more detail and questions. First quarter non-GAAP net income and EPS were $13.8 million and $0.55, respectively, both better than expected.

話雖如此，我將簡要關注季度亮點，然後將其交給格雷格了解更多細節和問題。第一季度非 GAAP 淨利潤和每股收益分別為 1380 萬美元和 0.55 美元，均好於預期。

These results were driven by good expense management, some green shoots in noninterest income, including development of our SBA offerings, continued loan growth and higher loan discount accretion than expected from previous acquisitions.

這些業績的推動因素包括良好的費用管理、非利息收入的一些萌芽，包括我們 SBA 產品的開發、持續的貸款增長以及高於之前收購預期的貸款折扣增加。

Our lenders have done a good job of charging for new loans with current new loan yields topping 8%. Obviously, we've been impacted by the dramatic shift in posture towards deposits the market has experienced over the past few weeks as with most banks, offsetting some of the gains by increased deposit and borrowings costs.

我們的貸方在新貸款收費方面做得很好，目前新貸款收益率高達 8%。顯然，與大多數銀行一樣，我們受到了過去幾週市場存款態度急劇轉變的影響，抵消了存款和借貸成本增加帶來的部分收益。

But our margin, while down for the quarter is still up year-over-year and has historically been quite consistent in this range. Two last things of note. One, implementation of CECL causes us to recognize differently the asset quality of acquired impaired loans. So as our reported asset quality level, while still excellent appears to have degraded slightly.

但我們的利潤率雖然本季度有所下降，但同比仍有所上升，並且從歷史上看一直在這個範圍內相當穩定。最後兩件事值得注意。第一，CECL的實施導致我們對所收購的減值貸款的資產質量有不同的認識。因此，正如我們報告的資產質量水平雖然仍然優秀，但似乎略有下降。

It's a function of accounting rules and non-practical change in risk. If anything, our underlying asset quality as measured apples-to-apples pre-CECL versus post-CECL has improved quarter-over-quarter, as Greg will explain in more detail.

它是會計規則和非實際風險變化的函數。如果說有什麼不同的話，那就是我們的基礎資產質量（在 CECL 之前與 CECL 之後相比）逐季有所改善，正如 Greg 將更詳細地解釋的那樣。

Second, well, one final new slide, #27, speaks to our CRE, C&D and in particular, our office exposure and granularity. We feel good about the geographic diversity of our exposure as well as the manageable pace of renewals that we'll face over the next 2 years. And we'll be happy to address that in greater detail, should there be questions.

其次，最後一張新幻燈片，#27，談到了我們的 CRE、C&D，特別是我們的辦公室曝光度和粒度。我們對我們業務的地理多樣性以及未來兩年將面臨的可控更新速度感到滿意。如果有疑問，我們很樂意更詳細地解決這個問題。

Again, thanks much for your time. And now, I'll turn it over to Greg.

再次非常感謝您抽出時間。現在，我將把它交給格雷格。

Thank you, Jude. Good afternoon, everyone. I'll spend a few minutes on the financial highlights for quarterly results and provide some updates around our outlook. As Jude mentioned, Q1 of '23 was highlighted by solid core expense management and improving core net interest income.

謝謝你，裘德。大家下午好。我將花幾分鐘時間介紹季度業績的財務要點，並提供有關我們前景的一些最新信息。正如 Jude 提到的，23 年第一季度的亮點是堅實的核心費用管理和核心淨利息收入的提高。

We're happy to provide some more color in the Q&A on our outlook and around expenses and fee income parallel. We feel like Q1 '23's core results are in directionally in a good run rate for the next couple of quarters. And we should see our core expenses flat to up a little bit in the Q1 base and noninterest income flat to down a little bit.

我們很高興在問答中就我們的前景以及費用和費用收入的平行情況提供更多信息。我們認為 23 年第一季度的核心業績在接下來的幾個季度中將保持良好的運行率。我們應該看到我們的核心支出在第一季度基數中持平或略有上升，非利息收入持平或略有下降。

A strong core earnings during the quarter were somewhat offset by funding pressures driving our 21% compression in our core NIM on a linked-quarter basis. I'd like really to go into detail on Slide 20 in our presentation, which you'll see our Q1 GAAP net interest margin of 3.75% included 2.9 million in loan accretion, which was about $1.7 million higher than we expected and was due to some payoffs and the final CECL adjustments for the quarter once we adopted.

本季度強勁的核心盈利在一定程度上被融資壓力所抵消，導致我們的核心淨息差按季度壓縮 21%。我真的很想在我們的演示文稿中詳細介紹幻燈片 20，您會看到我們第一季度 GAAP 淨息差為 3.75%，其中包括 290 萬美元的貸款增值，這比我們的預期高出約 170 萬美元，這是由於一旦我們採用，一些回報和本季度的最終 CECL 調整。

Our updating outlook assumes accretion would drop back in line, more in line with our normalized levels of about $1.4 million in Q2 and thereon after. While headline margins do tend to appear negative during the quarter, I do want to take a minute to highlight some of the more positive aspects of the margin during the quarter.

我們更新的前景假設增量將回落，更符合我們第二季度及之後約 140 萬美元的正常水平。雖然本季度的整體利潤率確實往往呈現負數，但我確實想花一點時間強調本季度利潤率的一些更積極的方面。

As Jude had mentioned earlier, we are proud of our efforts reflected in our newly originated loans with the weighted average beta on those new loan yields was 85% during the first quarter, up from 74% in Q4 of '22. Q1 loan yields experienced a steady climb throughout the quarter. And we ended March with a weighted average yield on new loans of 8.12%, up nicely from December of '22 as a new yield of 7.62%.

正如 Jude 之前提到的，我們對新發放的貸款所體現的努力感到自豪，第一季度這些新貸款收益率的加權平均貝塔值為 85%，高於 22 年第四季度的 74%。第一季度貸款收益率整個季度穩步攀升。截至 3 月份，我們的新貸款加權平均收益率為 8.12%，較 2022 年 12 月的新收益率 7.62% 大幅上升。

And really a little more granularity into that, which is important for us in the coming quarters, a weighted average rate of 8.20% on our renewals in Q1 of 2023 as well.

實際上，更具體一點，這對我們未來幾個季度很重要，2023 年第一季度的續訂加權平均率為 8.20%。

While funding betas did increase during the quarter, Q1 interest bearing deposit betas of 73% appears to be in line or slightly better than public peer-banks with assets less than $10 billion. Core NIM remained relatively stable throughout the quarter. March core NIM was 3.54%, which was in line with the Q1 overall core NIM.

雖然本季度融資貝塔係數確實有所增加，但第一季度計息存款貝塔係數為 73%，似乎與資產低於 100 億美元的公共同業銀行持平或略好。整個季度核心淨息差保持相對穩定。 3月份核心淨息差為3.54%，與第一季度整體核心淨息差一致。

We expect some modest compression in Q2 core NIM, down single digits in terms of basis points before stabilizing. And we think that the second half of '23, the core NIM will inflect and increase slightly. I think it's important for me to cover, and I'll cover in a little more detail on another slide. But our other borrowings increased due to utilization of the new Bank Term Funding Program, which allowed us to lock in a lower funding cost on these balances.

我們預計第二季度核心淨息差會出現適度壓縮，在穩定之前基點會下降個位數。我們認為，23 年下半年，核心淨息差將有所變化並略有增加。我認為這對我來說很重要，我將在另一張幻燈片上更詳細地介紹。但由於採用了新的銀行定期融資計劃，我們的其他借款有所增加，這使我們能夠鎖定這些餘額的較低融資成本。

We were able to position ourselves on a day where the funding had dropped down to 4.38%, which allowed us to pick up 62 basis points annualized net savings on the $310 million that we converted to that fund program.

我們能夠在資金下降至 4.38% 的那一天定位自己，這使我們能夠在轉入該基金計劃的 3.1 億美元中獲得 62 個基點的年化淨節省。

Turning back to the income statement. Q1 loan loss provision was quite slightly elevated due to the resolution of an impaired previously marked credit acquired in March of '23, which resulted in a charge-off of $1.9 million.

回到損益表。由於解決了 2023 年 3 月獲得的先前標記的減值信貸，導致第一季度貸款損失撥備略有上升，導致沖銷 190 萬美元。

I think it's worth us moving to Slide 19 for me to kind of walk through our credit quality performance. And we'll be able to elaborate a little more on the adoption of our CECL conversion during the first quarter, which increased the allowance for credit losses and unfunded commitments resulting in about $1 million pretax decrease in shareholders' equity.

我認為值得我們轉到幻燈片 19，讓我大致了解一下我們的信用質量表現。我們將能夠詳細說明第一季度採用 CECL 轉換的情況，該轉換增加了信貸損失和無資金承諾的準備金，導致股東權益稅前減少約 100 萬美元。

As Jude mentioned earlier, the optics around some of those credit metrics appeared skewed. But when comparing to the prior quarter, from the adoption of CECL, they really were quite nice. The improvement was quite nice. And I think I'll stop here and really walk everyone through that conversion of CECL and how they impacted not only past dues, but NPLs and charge-offs on Page 19 of the slide.

正如裘德之前提到的，圍繞其中一些信用指標的看法似乎存在偏差。但與上一季度相比，從CECL的採用來看，他們確實相當不錯。改進是相當不錯的。我想我會在這裡停下來，真正向大家介紹 CECL 的轉換，以及它們如何影響不僅過去的會費，而且影響幻燈片第 19 頁上的不良貸款和沖銷。

So if you look at our past dues for the quarter, they were $10.4 million or 22% for the quarter. I think upon conversion of CECL, the big uniqueness for us is these acquired previously acquired credits where we have credit marks specifically against those credits.

因此，如果您查看本季度的逾期會費，就會發現該季度的應付款為 1,040 萬美元，即 22%。我認為在 CECL 轉換後，我們最大的獨特之處在於這些先前獲得的學分，我們有專門針對這些學分的學分。

Under the old loan loss reserve model did not appear in our past dues. Our NPLs are in the charge-offs. And now they do with the CECL conversion. They do appear in those numbers. So to put that in perspective, if you're comparing apples-to-apples from Q4 to Q1, the $10.4 million if you remove the PICs or the purchase impaired credits from that number would really be $4.2 million. So those pure past dues would be down from the previous quarter.

在舊的貸款損失準備金模式下，我們的逾期款項中沒有出現。我們的不良貸款正在核銷中。現在他們進行了 CECL 轉換。它們確實出現在這些數字中。因此，從正確的角度來看，如果您比較第四季度和第一季度的情況，如果您從該數字中刪除 PIC 或購買減值信用，則 1040 萬美元實際上將是 420 萬美元。因此，那些純粹的逾期費用將比上一季度有所下降。

Same impact when you walk forward to the nonperforming loans for the quarter, that $17.1 million was really impacted by about $9.5 million in purchase acquired credits. So, the actual nonperforming total would be $7.6 million in nonperforming loans down from the previous quarter at $11.4 when comparing quarter-over-quarter under the same metrics.

當您查看本季度的不良貸款時，會發現同樣的影響，即 1710 萬美元實際上受到了約 950 萬美元購買信貸的影響。因此，在相同指標下進行季度環比比較時，實際不良貸款總額將為 760 萬美元，比上一季度的 11.4 美元下降。

Same principal applies to charge-offs. We had the acquired loan that we settled in the quarter that had a significant reserve against it, actually a net positive for us from an income standpoint. And that was 0.04% of the 0.05% in charge-offs for the quarter.

同樣的原則也適用於沖銷。我們在本季度結算的收購貸款有大量儲備金，從收入的角度來看，這實際上對我們來說是淨利。這佔本季度 0.05% 沖銷額的 0.04%。

So charge-offs again at an all-time low, which I thought was worth walking everyone through to the -- to talk about credit quality in the same vein when we talk about the conversion from CECL.

因此，沖銷再次達到歷史最低水平，我認為值得向大家介紹一下——當我們談論 CECL 的轉換時，以同樣的方式談論信用質量。

Now the adoption for CECL for us, we feel like going forward, our loan loss reserve should be at about 1% going forward from here on out at our normalized loan with loan volume.

現在我們採用了 CECL，我們希望繼續前進，從現在開始，我們的貸款損失準備金應在我們標準化貸款和貸款量的 1% 左右。

We can move to Slide 23. I think that will do a good job of talking about the balance sheet.

我們可以轉到幻燈片 23。我認為這可以很好地討論資產負債表。

Moving to the balance sheet. The linked quarter growth, $197 million loans or $17.3 million in annualized loan growth was really driven by strong C&I loan demand, which was really headlined by our Houston market. $85 million of that growth for the quarter was in C&I, which we're very proud of. This represents about 43% of the first quarter of loan growth. C&I was a significant contributor during the quarter.

轉向資產負債表。相關季度增長（1.97 億美元的貸款或 1730 萬美元的年化貸款增長）實際上是由強勁的 C&I 貸款需求推動的，而這實際上是由我們的休斯頓市場帶動的。本季度的增長中有 8500 萬美元來自 C&I，我們對此感到非常自豪。這約佔第一季度貸款增長的 43%。 C&I 是本季度的重要貢獻者。

While we feel like those deposits have been a challenge in the quarter, we feel like the C&I growth will put us in a position with these commercial relationships should materialize into additional deposits going forward.

雖然我們認為這些存款在本季度是一個挑戰，但我們認為工商業的增長將使我們處於有利地位，這些商業關係應該會在未來轉化為額外的存款。

Our revised outlook on loans assumes that loan growth continues to slow gradually through the year and with target around 10% at year-end loan growth for the year.

我們修訂後的貸款前景假設全年貸款增速繼續逐步放緩，年底貸款增速目標為 10% 左右。

Deposits remained relatively stable for the quarter. Jude had mentioned Slide 11 earlier. I think that does a really good job of describing our not only deposit, but our liquidity going forward. We think talking about the initial liquidity and deposits in force important core deposits represent about 88.3% of our total deposits.

本季度存款保持相對穩定。裘德早些時候提到過幻燈片 11。我認為這不僅很好地描述了我們的存款，還描述了我們未來的流動性。我們認為，就初始流動性和有效存款而言，重要的核心存款約占我們總存款的 88.3%。

As mentioned earlier, we utilized $310 million of the Bank Term Funding Program availability really strategically to reduce the cost of borrowing funds. We don't really look at that as an additional source of secondary liquidity. We use that to really strategically manage the rate difference between that and FHLB.

如前所述，我們真正戰略性地利用了銀行定期融資計劃中的 3.1 億美元來降低借貸資金成本。我們並不真正將其視為二級流動性的額外來源。我們用它來真正戰略性地管理 FHLB 與 FHLB 之間的費率差異。

One thing of note, as we do note on Slide 11 that at the end of the quarter, we were successful in converting additional loan pledging that was unutilized at FHLB to the Fed discount window, creating about $950 million in additional secondary sources of liquidity to now put us just over $2.7 million in additional sources of secondary liquidity.

值得注意的是，正如我們在幻燈片 11 中指出的那樣，在本季度末，我們成功地將 FHLB 未使用的額外貸款質押轉換為美聯儲貼現窗口，創造了約 9.5 億美元的額外二級流動性來源現在為我們提供了超過 270 萬美元的額外二級流動性來源。

And rounding out capital really remained stable during the quarter. TCE to TA was down just 4 basis points from Q4. And on a year-over-year basis, TCE ratio increased about 17 basis points. And with lower loan growth forecasted throughout the year, we expect capital levels to steadily build for the remainder of the year, which would be in line with our projections, as I mentioned earlier.

本季度的資本總額確實保持穩定。 TCE 與 TA 的比值較第四季度僅下降 4 個基點。與去年同期相比，TCE 比率增加了約 17 個基點。由於預計全年貸款增長較低，我們預計今年剩餘時間內資本水平將穩步上升，這將符合我們的預測，正如我之前提到的。

And with that, I will hand the call back over to you, Jude, for anything you'd like to add.

就這樣，我會把電話轉給你，裘德，詢問你想要補充的任何內容。

I think I said what I wanted to say. We'll be happy to answer any questions that anyone might want to ask.

我想我說出了我想說的話。我們很樂意回答任何人可能想問的任何問題。

(Operator Instructions) Your first question comes from the line of Thomas Wendler with Stephens.

（操作員說明）您的第一個問題來自 Thomas Wendler 和 Stephens 的線路。

I just wanted to go back to deposits. Your new slide, Slide 9, you have listed that you have $90.5 million in average monthly deposit generation over the past 12 months. Can you just give us an idea of how that figure is trending throughout 1Q?

我只是想回到存款。在您的新幻燈片（幻燈片 9）中，您列出了過去 12 個月的平均每月存款生成量為 9050 萬美元。您能否告訴我們該數字在整個第一季度的趨勢如何？

Yes, it's a great question, Thomas. We're very excited about that. Actually, in Q1, it's trended up to slightly over $100 million. And for example, in March, the noninterest-bearing open was about $22 million over 700 accounts just in noninterest-bearing with about slightly over $100 million in interest-bearing accounts in the same month.

是的，這是一個很好的問題，托馬斯。我們對此感到非常興奮。事實上，在第一季度，這一數字有略高於 1 億美元的趨勢。例如，3 月份，700 個無息賬戶的無息未平倉金額約為 2,200 萬美元，同月有息賬戶略高於 1 億美元。

And then just sticking with deposits, the FIG deposit base decreased $29 million last quarter. Can you give us any color there?

如果僅考慮存款，FIG 存款基礎上一季度就減少了 2900 萬美元。你能給我們任何顏色嗎？

Yes. I think -- so our FIG group has deposits from about 50 banks across the region and varying sizes in the middle of a volatile time. I won't say crisis because for most of us, it wasn't actually a crisis. But for the volatile time, there was some kind of pullback on the big deposit base, which is understandable as bank's kind of their first move is to bring their money home.

是的。我認為，我們的Fig 集團擁有來自該地區約50 家銀行的存款，並且在動蕩的時期規模各異。我不會說危機，因為對於我們大多數人來說，這實際上並不是一場危機。但在動盪時期，龐大的存款基礎出現了某種程度的回落，這是可以理解的，因為銀行的第一步就是將資金帶回家。

But we've seen since then a number of significant amounts of that gap come back to the bank as we kind of pass through that volatile time and certainly haven't seen any more decline.

但從那時起，我們已經看到，隨著我們經歷了那個動蕩的時期，大量的缺口又回到了銀行，而且肯定沒有看到更多的下跌。

And that typically has been -- so you'll remember that our FIG group in conjunction with our SSW Group serves banks in multiple ways. And what we were pleased to find is that banks that we have multiple relationships with deposits and participations or investment advice.

這通常是——所以您會記得我們的Fig 集團與我們的SSW 集團一起以多種方式為銀行提供服務。我們很高興地發現，我們與存款、參與或投資建議有多種關係的銀行。

We didn't see any movement in that in the liquidity. So it really was in some accounts where we just had some banks that were parking it there temporarily or not with the full relationship. So I think it's a little bit -- it kind of proves out the model in terms of our wanting to have multiple touch points with those banks that we service and will be a positive.

我們沒有看到流動性有任何變化。因此，在某些賬戶中，我們確實有一些銀行暫時將其停放在那裡，或者沒有建立完整的關係。所以我認為這有點——它證明了我們希望與我們服務的銀行建立多個接觸點的模式，這將是積極的。

But certainly in the heart of the volatility, we did have a little bit of pullback there. And the FIG deposit base is a relatively small percentage of our overall deposit base at this point. And the money that we temporarily lost was about 15%, I believe, of the FIG base.

但可以肯定的是，在波動的中心，我們確實出現了一些回調。目前，FIG 存款基礎占我們整體存款基礎的比例相對較小。我相信，我們暫時損失的資金大約是FIG基數的15%。

But FIG base itself is about $150 million out of our $4.6 billion to $4.8 billion deposit base. So it's -- while we hope to grow it over time, I realize we'll have to manage it differently than other forms of liquidity. Today, it's really not a large enough portion to have moved our needle negatively during that time.

但在我們 46 億至 48 億美元的存款基礎中，FIG 基礎本身約佔 1.5 億美元。所以，雖然我們希望隨著時間的推移而增長，但我意識到我們必須以不同於其他形式的流動性的方式來管理它。今天，它的比例確實還不夠大，不足以讓我們在那段時間裡產生負面影響。

Yes. Thomas, it's about 2.87% of our deposit base right now at quarter end.

是的。托馬斯，截至季度末，這大約是我們存款基礎的 2.87%。

I appreciate all the color there. And if I could just squeeze in one more. We saw a bit more SBA activity in 1Q '23. Can you just give me an idea of your plans around the SBA moving forward?

我欣賞那裡的所有顏色。如果我能再擠進一顆就好了。我們在 23 年第一季度看到了更多的 SBA 活動。您能否介紹一下您圍繞 SBA 的未來計劃？

Sure. We picked up some SBA capability with our Texas Citizens acquisition. And we had certainly been planning to be more aggressive in that area prior to the acquisition. But the acquisition gave us a little bit of some wind in our sails.

當然。我們通過收購 Texas Citizens 獲得了一些 SBA 能力。在收購之前，我們當然已經計劃在該領域更加積極主動。但這次收購給我們帶來了一些動力。

And so we've seen this was really the first quarter that we saw an uptick in the number of closings and our pipeline is filling up. And so we expect to have similar results over the course of the year and hopefully a little bit improving.

因此，我們看到這確實是我們看到關閉數量上升的第一季度，並且我們的管道正在填滿。因此，我們預計在這一年中會取得類似的結果，並希望能有所改善。

We have a good partnership with an LSP a loan service provider for the SBA that helps us with all -- make sure we're doing it right. That's the thing about SBA it's only valuable if you're doing it right. And so we definitely spend some time making sure that we're handling the back office side of it and have that infrastructure in place and are beginning to put a greater emphasis on it in our markets.

我們與 LSP（SBA 的貸款服務提供商）建立了良好的合作夥伴關係，為我們提供幫助——確保我們做得正確。這就是 SBA 的特點，只有做得正確，它才有價值。因此，我們肯定會花一些時間來確保我們正在處理後台方面的工作，並擁有適當的基礎設施，並開始在我們的市場上更加重視它。

Philip, if you want to add anything to that or?

菲利普，你想補充什麼嗎？

Yes. I would just say we started focusing on it probably really for first quarter last year and took most of last year working through the kinks. So the first quarter is a good indication this year of where we hope to take it, but we're pleased with the result.

是的。我想說的是，我們可能從去年第一季度就開始關注它，並花了去年的大部分時間來解決這些問題。因此，第一季度很好地表明了今年我們希望取得的成果，但我們對結果感到滿意。

I do think that we have to be mindful of the fact that the higher rates tend to mean lower premiums. So even with a higher volume, that won't necessarily be on a one-for-one basis with higher income in the short run. But again, this is a part of our franchise building over time as a bank that services businesses, we feel like this is an important tool in our -- arrow in our quiver.

我確實認為我們必須注意這樣一個事實：較高的費率往往意味著較低的保費。因此，即使交易量較大，短期內也不一定會帶來更高的收入。但同樣，這是我們作為一家為企業提供服務的銀行隨著時間的推移建立特許經營權的一部分，我們覺得這是我們箭袋中的一個重要工具。

Well, I was just going to say, one of our initiatives over time is certainly a focus on developing various sources of noninterest income. And part of the rationale for our acquisition of SSW was wealth management as a source of income, investment management for other financial institutions as a source of income. SBA is kind of the next -- the other most logical combination for us given our focus on small businesses.

嗯，我只是想說，隨著時間的推移，我們的舉措之一肯定是專注於開發各種非利息收入來源。我們收購SSW的部分原因是財富管理作為收入來源，對其他金融機構的投資管理作為收入來源。 SBA 是下一個——考慮到我們對小型企業的關注，這對我們來說是另一個最合乎邏輯的組合。

And so all 3 of those are areas that we think can move the needle over the long run for us. And as we seek to move from being profitable to highly profitable, I think that noninterest component is a key part of that. And so it's still early days on all 3 of those initiatives. But we like the direction that we're moving in.

因此，我們認為從長遠來看，所有這三個領域都可以為我們帶來推動。當我們尋求從盈利轉向高盈利時，我認為非利息部分是其中的關鍵部分。因此，這三項舉措目前還處於早期階段。但我們喜歡我們前進的方向。

Your next question comes from the line of Kevin Fitzsimmons with D.A. Davidson.

你的下一個問題來自凱文·菲茨西蒙斯 (Kevin Fitzsimmons) 和 D.A.戴維森。

Greg, I was trying to keep up with you when you were talking margins. So it sounds like you're saying stable -- March was stable with the full quarter on a core margin basis. So -- but you do expect some incremental compression in second quarter, I guess, from funding cost pressure but then stable to up after that? Is that -- did I hear that right?

格雷格，當你談論利潤時，我試圖跟上你的步伐。所以聽起來你是在說穩定——三月份整個季度的核心利潤率都是穩定的。那麼，但我猜，您確實預計第二季度會因融資成本壓力而出現一些增量壓縮，但之後會穩定上升？那是——我沒聽錯吧？

No, you're exactly right. We think given where we are today, I think we'll continue to fight some headwinds on the cost side from the deposit standpoint. We do re-price our loan pricing software every week. So that's allowed us, as I mentioned, to keep the top line loan yield kind of walking in step, but we're fighting like everybody else deposit pressure.

不，你說得完全正確。我們認為，鑑於我們今天的處境，我認為從存款的角度來看，我們將繼續與成本方面的一些阻力作鬥爭。我們每週都會重新定價我們的貸款定價軟件。因此，正如我所提到的，這使我們能夠保持頂線貸款收益率的同步增長，但我們正在像其他人一樣應對存款壓力。

So we do think slightly compressed in Q2 and then we think the pace of renewals that we experienced just kind of seasonally in Q3 and Q4 will help some expansion in the later quarters.

因此，我們確實認為第二季度略有壓縮，然後我們認為我們在第三季度和第四季度經歷的季節性更新步伐將有助於在後面幾個季度進行一些擴張。

Okay. And I think you said like single-digit right, in second quarter?

好的。我想你說的是第二季度的個位數吧？

Right.

正確的。

Okay. And is -- the comment about slowing loan growth, it's not surprising. I'm just curious about the drivers in terms of maybe what kind of proportion is coming from the economy slowing and therefore, demand and pipelines falling versus you all may be getting much tighter on -- with it being more expensive to fund that loan growth and maybe with concerns about credit. Is it -- how much is more deliberate versus the market?

好的。關於貸款增長放緩的評論，這並不奇怪。我只是對經濟放緩的驅動因素感到好奇，因此，需求和管道的下降與你們所有人相比可能會變得更加緊張——為貸款增長提供資金的成本更高也許還有對信用的擔憂。是不是——與市場相比，深思熟慮了多少？

I would say more deliberate than the market today. We have a lot of great relationships. And even if we didn't -- weren't sourcing loans from new clients, just our current clients still have activity and requests. So we are trying to be disciplined though on a couple of fronts.

我想說比今天的市場更加深思熟慮。我們有很多良好的關係。即使我們沒有從新客戶那裡獲取貸款，我們現有的客戶仍然有活動和請求。因此，我們正在努力在幾個方面保持紀律。

One is the obvious, the increased cost of deposits incrementally. We want to make sure that we are making it worth using liquidity for that growth. And so we're spending a lot more time thinking about the profitability of those loan opportunities versus the volume of those loan opportunities, which makes sense given the -- we think, given the liquidity concerns.

一是顯而易見的，存款成本逐漸增加。我們希望確保我們值得利用流動性來實現增長。因此，我們花了更多的時間來考慮這些貸款機會的盈利能力與這些貸款機會的數量，考慮到我們認為考慮到流動性問題，這是有道理的。

And then secondly, as I've explained in my introduction, we feel like we've reached a little different level in terms of our maturity as a company and a little different foundation from which to work. And at this point, we have most of the pieces of the puzzle in place and we just need to grow it appropriately from there.

其次，正如我在介紹中所解釋的那樣，我們覺得我們作為一家公司的成熟度已經達到了一些不同的水平，並且工作基礎也有所不同。此時，我們已經完成了大部分拼圖，我們只需要從那裡適當地擴展它。

And a lot of that needs to be determined by capital allocation versus just growth for growth's sake. And so we've become more cognizant, I suppose, or more determined in our efforts to make sure that we are growing within our retained earnings and that we're accretive from a capital perspective. So we certainly have enjoyed shareholders trust funding the investments that we've made over the past few years. And we feel like we've done a really good job of doing what we said we would do in terms of establishing our footprint.

其中很多需要由資本配置決定，而不是僅僅為了增長而增長。因此，我想，我們已經變得更加認識，或者更加堅定地努力確保我們在留存收益範圍內增長，並且從資本的角度來看我們是增值的。因此，我們當然很享受股東信託為我們過去幾年所做的投資提供的資金。我們覺得我們在建立足跡方面做得非常好，做到了我們所說的要做的事情。

And now that we're there, I think our priority to -- and our responsibility to that investor group is to begin making sure that profitability gets a higher priority than growth. So part of that is making sure that we slow down our loan growth so that it's right fit to our capital base.

現在我們已經到了那裡，我認為我們的首要任務以及我們對投資者群體的責任是開始確保盈利能力比增長更重要。因此，其中一部分是確保我們放慢貸款增長速度，使其適合我們的資本基礎。

And so we feel like over the long run, a 10% loan growth, plus or minus a couple of points based on the economy and where we are as a company is a healthy target both for this year and for coming years when we're healthier.

因此，我們認為，從長遠來看，10% 的貸款增長，根據經濟情況以及我們作為一家公司的狀況加減幾個百分點，對於今年和未來幾年來說都是一個健康的目標。更健康。

If we can do that consistently while accreting capital at a higher ROE then I think we'll all be pleased with that outcome. So that was a long way of saying it's a more deterministic approach to the allocation of capital versus a big run-up in demand.

如果我們能夠始終如一地做到這一點，同時以更高的股本回報率積累資本，那麼我認為我們都會對此結果感到滿意。因此，從長遠來看，相對於需求的大幅增長，這是一種更具確定性的資本配置方法。

One thing we're finding is that demand is actually increasing in some areas just because there is a tightening in credit in the system. So that means that we have to be even more conscious of the choices that we're making as we allocate that pool of loans.

我們發現的一件事是，某些領域的需求實際上正在增​​加，只是因為系統中的信貸收緊。因此，這意味著我們在分配貸款池時必須更加意識到我們所做的選擇。

I will say it's not easy when you spent a number of years building a ship that's moving in one direction, it's not as easy as it may sound to turn the ship. And so we've been working on this for a while and 17% annualized loan growth in the first quarter, sounds like a large number, but not compared to the 20% the quarter before or the 25%. I think 30% the quarter before that and the 30% the quarter before that.

我想說的是，當你花了很多年建造一艘朝一個方向移動的船時，這並不容易，轉動船並不像聽起來那麼容易。因此，我們已經為此努力了一段時間，第一季度的年化貸款增長率為 17%，聽起來是一個很大的數字，但與前一季度的 20% 或 25% 相比還不夠。我認為前一個季度為 30%，前一個季度為 30%。

So it is going to take us a couple more quarters to get down to where we want to be. But that growth that we are experiencing, we're prioritizing current clients and making sure that we're making sure we're adding the right relationships for the long run.

因此，我們還需要幾個季度才能達到我們想要的目標。但我們正在經歷的增長，我們正在優先考慮現有客戶，並確保從長遠來看，我們正在增加正確的關係。

No, that's very helpful. And that 10% loan growth figure is not like a full year growth number. That's more like by the end of the year, maybe by fourth quarter, you're growing loans that much. Is that right?

不，這非常有幫助。 10% 的貸款增長數字並不像全年的增長數字。這更像是到今年年底，也許到第四季度，你的貸款就會增加這麼多。是對的嗎？

No, we hope to be a little bit less than that in the fourth quarter just to kind of quick catch up this year with our growth.

不，我們希望比第四季度少一點，只是為了快速趕上今年的增長。

Our goal is to be more in the 10% range, plus or minus a couple of points for the year and feel like we can do that given the pipeline and given the maturities of the current book.

我們的目標是在今年增加或減少幾個點，在 10% 的範圍內，並且考慮到目前的渠道和當前書籍的成熟度，我們感覺我們可以做到這一點。

Okay. Okay. And I know you guys said it's a small piece. The FIG group is a small piece when you were talking about deposits. But -- so I don't know how big -- it's probably not a needle mover. But I remember in June, you're talking in the past about the FIG Group being helpful for you on the loan side, too, in terms of being able to distribute some loans that you don't have to keep everything on your balance sheet.

好的。好的。我知道你們說這是一小部分。當你談論存款時，FIG 組只是一小部分。但是——所以我不知道有多大——它可能不是一個針動器。但我記得在 6 月，您過去談論過 Fig 集團在貸款方面也對您有幫助，因為能夠分配一些貸款，而您不必將所有內容都保留在資產負債表上。

There may be bank clients out there that are deposit rich that are looking for loans. Is that something that can be helpful?

可能有一些存款豐富的銀行客戶正在尋求貸款。這是有幫助的嗎？

Yes, absolutely. And really, in our mind, although when we originally began the FIG group, it probably was a little more about deposits. But over time, it's kind of evolved into being a safety valve for us in essence, on the credit side so that as our clients succeed, we can grow with them without necessarily taking all the risk on our balance sheet.

是的，一點沒錯。事實上，在我們看來，儘管當我們最初成立FIG 小組時，它可能更多地是關於存款的。但隨著時間的推移，它在本質上演變成我們的信用方面的安全閥，這樣當我們的客戶成功時，我們就可以與他們一起成長，而不必承擔我們資產負債表上的所有風險。

And then for new clients, you're right, maybe we can be more attractive to deposit-rich ones. I'll let Jerry talk. Jerry is actually in charge of working with Jesse Jackson, who you know for the FIG Group and SSW and might want to add some color on the FIG group's purchase.

然後對於新客戶來說，你是對的，也許我們可以對存款豐富的客戶更具吸引力。我會讓傑瑞說話。 Jerry 實際上負責與 Jesse Jackson 合作，您在 Fig 集團和 SSW 中都認識他，他可能想為 Fig 集團的收購增添一些色彩。

Thank you, Jude. A comment I wanted to add was what's been an interesting and intentional effort. Over the last couple of months has been really a great teamwork between the FIG Group and the markets, building relationships, kind of building that prospect database of where we have contacts throughout the bank client universe.

謝謝你，裘德。我想補充的一點是，這是一項有趣且有意的努力。在過去的幾個月裡，FIG 集團和市場之間確實進行了出色的團隊合作，建立了關係，建立了我們在整個銀行客戶領域都有聯繫的潛在客戶數據庫。

And kind of defining the universe that's the term we talk about is the reach of the FIG Group and what does it look like. So our team, Jesse's leading the effort, building up the network, partnering with SSW guys.

我們所談論的術語“宇宙”的定義是FIG 集團的影響力及其外觀。因此，我們的團隊 Jesse 正在領導這項工作，建立網絡，並與 SSW 人員合作。

And the data available out there relative to that community bank universe is something we've been able to strike on and got a pretty new go-forward business plan for the rest of this year to work directly with our market teams on the loan participation side.

我們已經能夠利用與社區銀行領域相關的可用數據，並在今年剩餘時間裡制定了一個全新的前進業務計劃，以便在貸款參與方面直接與我們的市場團隊合作。

And we're at our portfolio that's participated is up to about $350 million, which has been extremely helpful in terms of our being able to continue servicing clients. But also over time, we would expect that we would eventually be able to benefit from a not insignificant servicing arrangement for maintaining those loans. So there are a number of ways that the FIG group will ultimately benefit our growth.

我們參與的投資組合高達約 3.5 億美元，這對於我們能夠繼續為客戶提供服務非常有幫助。但隨著時間的推移，我們預計我們最終將能夠從維持這些貸款的不小的服務安排中受益。因此，FIG 集團將通過多種方式最終有利於我們的發展。

Your next question comes from the line of Feddie Strickland with Janney Montgomery Scott.

你的下一個問題來自費迪·斯特里克蘭和詹尼·蒙哥馬利·斯科特的對話。

I just want to be clear that I understand -- I know you covered this some. But it sounds like the Bank Term Funding Program was more of an opportunistic move when rates were low relative to some FHLB you already had. And just now that it's given -- it's more or less in line, you'd probably tap FHLB before you go back to Bank Term Funding. Is that right?

我只是想表明我的理解——我知道你已經介紹過這一點了。但聽起來，當利率相對於您已有的一些 FHLB 而言較低時，銀行定期融資計劃更像是一種機會主義舉措。現在它已經給出了——或多或少是一致的，你可能會在返回銀行定期融資之前先選擇 FHLB。是對的嗎？

Yes, that's right, Feddie. We had availability and then on that we were watching the rates and that -- those particular days, it was about a 62 basis point spread between FHLB. So we decided, studied the program to ease in and out -- no penalty, 1-year commitment on that rate. So we decided to take action. But you're correct. Rates have gotten a lot tighter with FHLB. So we still have availability with the Bank Term Fund right now that we have in access because of that.

是的，沒錯，費迪。我們有可用的資金，然後我們觀察了利率，在那些特定的日子裡，FHLB 之間的利差約為 62 個基點。所以我們決定，研究了放鬆進出的計劃——沒有懲罰，按該費率承諾一年。所以我們決定採取行動。但你是對的。 FHLB 的費率變得更加嚴格。因此，我們現在仍然可以使用銀行定期基金。

No, that makes sense. I mean lower rate, why not. And then I think I asked the same question last quarter, Jude, but I'm going to ask it again. Do you feel like there's still some low-hanging fruit in terms of branch network optimization or is that more or less kind of already been baked in at this point? Just curious what you're seeing there.

不，這是有道理的。我的意思是降低利率，為什麼不呢？然後我想我上個季度問了同樣的問題，裘德，但我會再問一次。您是否覺得在分支機構網絡優化方面仍然存在一些容易實現的目標，或者現在或多或少已經實現了？只是好奇你在那裡看到了什麼。

No, we actively think about it and there's a slide in here, in fact, it kind of shows the migration over time of our branch network. I don't remember the exact number. But we continue to analyze opportunities. Sometimes it's rationalization through cutting back. But sometimes it's repositioning in terms of moving branches so that we can make better use of the system where it is and trying to tap into some higher growth areas.

不，我們積極思考這個問題，這裡有一張幻燈片，事實上，它顯示了我們的分支機構網絡隨著時間的推移的遷移。我不記得確切的數字了。但我們會繼續分析機會。有時是通過削減來合理化。但有時它會通過移動分支機構來重新定位，以便我們可以更好地利用現有系統並嘗試進入一些更高增長的領域。

And over time, we've done, I think, a good job of not just having fewer branches and our average deposit base in our branch network is close to $100 million on average per branch. I feel good about the progress we've made there. But we've also managed to in my opinion relocate them to areas that have more growth potential.

隨著時間的推移，我認為我們做得很好，不僅減少了分支機構，而且我們的分支機構網絡中的平均存款基礎平均每個分支機構接近 1 億美元。我對我們在那裡取得的進展感到滿意。但我認為，我們也設法將它們重新安置到具有更大增長潛力的地區。

So we feel like there's still opportunities to increase the deposit base from that branch system. So we'll continue to rationalize. We got movement of a location in Houston that we did over recently and we'll have a couple more.

因此，我們認為仍有機會增加該分行系統的存款基礎。所以我們會繼續合理化。我們最近在休斯敦的一個地點發生了變動，我們還會有更多的地點。

I don't think we have a wholesale opportunity of 10%, 15%. But I do think we've got incremental opportunities that remain. And hopefully, we'll always consider that an evolving process as opposed to only doing that around acquisitions. We need to keep evaluating and keeping -- keep looking for opportunities, not just to close, but also to open in the right locations.

我認為我們沒有 10%、15% 的批發機會。但我確實認為我們仍然有更多的機會。希望我們始終認為這是一個不斷發展的過程，而不是僅僅圍繞收購進行。我們需要不斷評估和不斷尋找機會，不僅要關閉，還要在正確的地點開業。

We also have been experimental in terms of use of ITMs. And over time, particularly, I hope that there might be a little regulatory transition in terms of approval of ITMs. Right now, the ITM has to be approved as a full branch application. And I think I've heard some talk about maybe changing that, which would make it even easier to utilize that as a way to supplement our existing branch network, so always thinking about it.

我們還在 ITM 的使用方面進行了實驗。尤其是隨著時間的推移，我希望在 ITM 的批准方面可能會出現一些監管轉變。目前，ITM 必須作為完整的分支機構申請獲得批准。我想我聽說過一些關於可能改變這一點的討論，這將使我們更容易利用它來補充我們現有的分支機構網絡，因此請始終考慮這一點。

And I do think there's some opportunity for us to continue to evolve and make sure we're making the most of that branch network.

我確實認為我們有一些機會繼續發展並確保我們充分利用分支機構網絡。

Your next question comes from the line of Michael Rose with Raymond James.

你的下一個問題來自邁克爾·羅斯和雷蒙德·詹姆斯的對話。

Most have been asked and answered. But just wanted to get some color on the credit that was charged off this quarter. And then if you could give some color on the uptick in nonaccrual loans. I'm just trying to get a sense for credit in general. And obviously, the CECL adoption helped the reserve a little bit, but just about some general thoughts on credit, too.

大多數已被詢問和回答。但只是想了解一下本季度沖銷的信用額。然後您能否對非應計貸款的增長進行一些說明。我只是想總體了解一下信用。顯然，CECL 的採用對儲備金有所幫助，但也只是一些關於信貸的一般想法。

Yes. Thanks, Michael. It's a great question. The charge-off this quarter was for a previously marked credit in the TCB acquisition last year. We decided to resolve that, which resulted in a net gain of about $250,000.

是的。謝謝，邁克爾。這是一個很好的問題。本季度的沖銷是針對去年 TCB 收購中先前標記的貸項。我們決定解決這個問題，最終淨收益約為 250,000 美元。

That -- because of the CECL adoption, 4 basis points, so the 5 basis points in charge-offs on the chart on Page 19 is really attributable to that credit specifically. So charge-offs remained low. The same thing with past dues and NPLs. The CECL adoption, because we have been acquisitive, we still have credit marks out there from our last 4 acquisitions that are really attributable to about $9.5 million of that $17.1 million NPL that's showing up there.

由於採用了 CECL，因此有 4 個基點，因此第 19 頁圖表中沖銷的 5 個基點確實具體歸因於該信用。因此沖銷仍然很低。逾期未付款項和不良貸款也是如此。採用 CECL，因為我們一直在進行收購，所以我們仍然有過去 4 次收購的信用分數，這些信用分數實際上可歸因於出現的 1710 萬美元不良貸款中的約 950 萬美元。

So if you normalize that to pre-CECL adoption, then that really is $7.6 million, which shows NPLs screening down about $4 million quarter-over-quarter. So we think the credit book is in great shape, still performing nicely.

因此，如果將其標準化為 CECL 採用之前的情況，那麼這實際上是 760 萬美元，這表明不良貸款篩選比上一季度減少了約 400 萬美元。因此，我們認為信用簿狀況良好，表現仍然良好。

Any changes in criticized and classified?

批評和分類有什麼變化嗎？

No, nothing material.

不，沒有任何實質性內容。

Okay, great. And then just wanted to touch on SSW, AUM continues to grow. Obviously, the market was up a bit in the first quarter, but now down. I just wanted to get any thoughts on any sort of efforts there to continue to build out that business?

好的，太好了。然後我想談談 SSW，AUM 持續增長。顯然，第一季度市場略有上漲，但現在卻下跌了。我只是想了解有關繼續發展該業務的任何努力的想法？

Yes. Well, Jerry, I'll let you answer that as part of your SSW kind of plans.

是的。好吧，傑瑞，我會讓你回答這個問題，作為你的 SSW 計劃的一部分。

Yes. That group is very active in the development of new relationships and expanding existing relationships. And it's been something being fairly new to the team, myself. That group, I can assure you is high energy and developing.

是的。該團體在發展新關係和擴大現有關係方面非常積極。對於我本人來說，這對團隊來說是相當新鮮的事情。我可以向你們保證，這個團隊充滿活力並且不斷發展。

They've got -- they're adding banks this quarter. They brought on new relationships this quarter. They're helpful across the array of services dipping into the -- even the loan participation side of some of those relationships as well. So that team is on the road and I think you'll continue to see growth in that business.

他們本季度將增加銀行。他們本季度建立了新的關係。它們在一系列服務中都有幫助，甚至涉及其中一些關係的貸款參與方面。因此，該團隊正在路上，我認為您將繼續看到該業務的增長。

Yes. We're excited about their energy levels and the reception that they've received. When we did the transaction, the biggest concern was probably being affiliated with the bank --would that cause concern to their client base and it has not.

是的。我們對他們的能量水平和他們所受到的歡迎感到興奮。當我們進行交易時，最大的擔憂可能是與銀行有關聯——這是否會引起他們的客戶群的擔憂，但事實並非如此。

And in fact, they've actually -- there's one reason their AUM has gone up is that their client base has gone up considerably since we partnered out. So we see opportunities to continue to expand that geographically as well as just a number of banks and that we've got 3 or 4 individuals in Memphis as part of that team.

事實上，他們的資產管理規模上升的原因之一是，自從我們合作以來，他們的客戶群大幅增加。因此，我們看到了繼續擴大地理範圍和數量的銀行的機會，並且我們在孟菲斯有 3 到 4 個人作為該團隊的一部分。

And we just -- we're excited about the opportunities, not just for the number of banks but the quality advice that we're giving. And we think we're helping make a contribution to community banking. One of the differences between the way that SSW guides its clients and the way that we have constructed our investment portfolio relative to some of the banks that have struggled and closed, is really focused on cash flow return versus yield chasing.

我們對這些機會感到興奮，不僅是銀行的數量，還有我們提供的高質量建議。我們認為我們正在為社區銀行業務做出貢獻。 SSW 指導客戶的方式與我們構建投資組合的方式（相對於一些陷入困境並倒閉的銀行）的區別之一是真正關注現金流回報而不是追逐收益率。

And if you look at SSW's portfolio of clients, less duration risk, less extension of duration during the uptick in rates and really just a healthier corpus. And so being able to -- what we think the fact that that has occurred over the past year should be -- should make for good talking points and good sales points with additional clients down the road.

如果你看看 SSW 的客戶組合，就會發現久期風險更小，利率上升期間久期的延長也更少，而且實際上只是一個更健康的語料庫。因此，能夠——我們認為過去一年發生的事實應該如此——應該會成為未來與更多客戶的良好談話點和良好銷售點。

So looking forward to seeing how that continues to develop. We also think that over time, there will potentially be opportunities to add other services and other products. And so I won't get into anything specific today. But I think over time that as we continue to gain the trust of those clients, we'll have other opportunities to diversify the revenue streams.

因此，期待看到它如何繼續發展。我們還認為，隨著時間的推移，可能會有機會添加其他服務和其他產品。所以今天我不會談論任何具體的事情。但我認為，隨著時間的推移，隨著我們繼續獲得這些客戶的信任，我們將有其他機會實現收入來源多元化。

Maybe just finally for me. I'm sorry if I missed this at the beginning. But did you guys give any sort of updated expectations for cumulative deposit beta and then mix of NIB. I think you guys NIB mix is somewhere around 30% range?

也許最後對我來說。如果我一開始就錯過了這一點，我很抱歉。但是你們有沒有對累積存款 Beta 以及 NIB 的組合給出任何更新的預期。我認為你們的 NIB 混合範圍在 30% 左右？

Yes. I don't know that we called it out specifically, but we'll let Matt, Matt do that now.

是的。我不知道我們是否特意提出了這一點，但我們現在就讓馬特、馬特這樣做。

Yes, sure, Michael. So on the deposit composition going forward, the way we're thinking about that is noninterest-bearing being down a little bit.

是的，當然，邁克爾。因此，就未來的存款構成而言，我們的想法是無息存款略有下降。

I'd say somewhere in the vicinity of 1%, 1.5%, just as a total mix of the composition by year-end. So relatively stable in makeup of the deposit base. As far as the betas go, so in the first quarter, we got interest-bearing, I'll kind of talk about interest-bearing betas.

我想說大約在 1%、1.5% 左右，就像年底時的總組合一樣。因此存款基礎的構成相對穩定。就貝塔而言，在第一季度，我們有生息貝塔，我會談談生息貝塔。

Total interest-bearing during the first quarter, 73% obviously, an increase from the fourth quarter. But looking ahead, I will kind of shift the -- shift the dialogue or the outlook to be based more on cycle to date just because of the uncertainties around exactly what the Fed is going to do. It looks like it will be relatively flat Fed funds for the balance of the year.

一季度計息總額明顯達到73%，較四季度有所上升。但展望未來，我將改變對話或前景，更多地基於迄今為止的周期，因為美聯儲將採取什麼行動存在不確定性。看起來今年剩餘時間里美聯儲基金將相對持平。

And if that's the case, we're still going to experience an increase in funding costs throughout the year. So on a cycle-to-date basis, during the first quarter we were at 45% cycle to-date interest-bearing deposit betas.

如果是這樣的話，我們全年的融資成本仍然會增加。因此，就週期迄今而言，第一季度我們的周期至今計息存款貝塔值為 45%。

That's probably going to increase steadily throughout the year. And that's really just a function of a continuous catch-up of the rate moves that we've had over the past 6, 12 months. So that 45% would likely creep up maybe 5 percentage points on a quarterly basis to end the year somewhere in the high 60% range.

這一數字可能會全年穩步增長。這實際上只是我們在過去 6、12 個月中不斷追趕利率變動的結果。因此，45% 可能會按季度上升 5 個百分點，到年底時會達到 60% 的高位。

So if you kind of apply that to a flat or some kind of forward curve outlook that would be our cycle to date beta assumptions on interest-bearing deposits. On total funding, interest-bearing liability betas, I'd say there's a very similar trajectory on how those are going to progress as well.

因此，如果您將其應用於平坦或某種遠期曲線前景，這將是我們迄今為止對計息存款的貝塔假設的周期。在總資金、有息負債貝塔方面，我想說這些的進展軌跡也非常相似。

That was a 50% total interest-bearing liability beta in the first quarter cycle to date. Again, that probably ratchets up about 5 percentage points each quarter through the balance of the year.

迄今為止，第一季度週期的有息負債貝塔總額為 50%。同樣，在今年剩餘時間裡，這一數字可能每個季度都會上升約 5 個百分點。

Your next question comes from the line of Brett Rabatin with Hovde Group.

您的下一個問題來自 Hovde Group 的 Brett Rabatin。

I wanted to just go back to expenses and make sure I understood the guidance. If I heard Greg correctly, the guidance was for the expenses to be down a little bit linked quarter in 2Q.

我想回到費用並確保我理解指導。如果我沒聽錯格雷格的話，指導意見是第二季度的費用將略有下降。

And then it wasn't clear to me, following that, you talked some about how you've built out the platform you need and scale is important now. So it sounds like maybe expense growth might be fairly moderate or minimal over the next year, excluding anything else that might come up from an opportunity perspective.

然後我不清楚，接下來，您談到瞭如何構建您需要的平台，而規模現在很重要。因此，聽起來也許明年的費用增長可能相當溫和或很小，排除從機會角度可能出現的任何其他因素。

So I just want to make sure I had that right and just get any other clarity on the path from here on that line.

所以我只是想確保我的權利是正確的，並從這條線上的道路上獲得任何其他清晰的信息。

Yes, Brett, what we're going to -- what we're seeing is flat to up slightly in Q2. And then we will -- that's because of some full quarter impact of March salary increases. But then we expect to not see expenses increase materially after that, so flattish after that for the balance of the year.

是的，布雷特，我們將看到第二季度的情況是持平或略有上升。然後我們會——那是因為三月份加薪對整個季度產生了一些影響。但我們預計此後費用不會大幅增加，因此今年剩餘時間的費用將持平。

The only thing that I would add is, as you recall, there's typically some seasonality in the expense base in the fourth quarter, year-end in terms of catch-ups. And so on a core basis, yes, I think flat thereafter, but that seasonality is going to be there in the fourth quarter in all likelihood.

我唯一要補充的是，正如您所記得的那樣，第四季度的支出基礎通常存在一些季節性，年底的追趕。因此，從核心角度來看，是的，我認為此後會持平，但季節性很可能會在第四季度出現。

And then on the classified criticized decrease linked quarter. Was that due to maybe some credits leaving the bank or I didn't quite catch the linked quarter decline. What might have driven that 40 basis point watch list decrease?

然後是分類批評減少相關季度。這是因為可能有一些信貸離開了銀行，還是我沒有完全理解相關的季度下降。是什麼導致觀察名單下降 40 個基點？

Yes. I think it's -- some credits leaving the bank. The credit we settled that had a mark against it. It was probably the big driver in that, Brett.

是的。我認為是——一些信貸離開了銀行。我們結算的信用證上有記號。布雷特，這可能是其中最大的推動力。

Okay. That's helpful. And then just lastly, I appreciate the slide on the Slide 21, just showing the repricing opportunity on loans. For the fixed rate loans, which is like 56% with a weighted average rate of 4.87, any idea of the piece that might be here 1 to 2? Or what a good duration might be on the loans that are longer than 1 year.

好的。這很有幫助。最後，我很欣賞幻燈片 21 上的幻燈片，它展示了貸款的重新定價機會。對於固定利率貸款，大約為 56%，加權平均利率為 4.87，您知道這裡可能是 1 比 2 的部分嗎？或者超過 1 年的貸款期限多長比較合適。

Yes. So generally, the way we think about this, Brett, is our portfolio turns over about 4.8 years on total. And the fixed rate piece of that is about -- that's the fixed rate piece. So I think just thinking about it in that perspective, those fixed rates, 8.8% maturing in less than a year and then the balance of that really kind of evenly scattered out over the course of that 5-year horizon basically.

是的。 Brett，一般來說，我們的想法是我們的投資組合總周轉時間約為 4.8 年。其中固定利率部分大約是——這就是固定利率部分。因此，我認為從這個角度考慮，那些固定利率，8.8% 在不到一年的時間內到期，然後其餘額基本上均勻地分佈在 5 年期限內。

Brett, I'm anxious to see what your title is going to be here. You're a pretty creative titler of your reports.

布雷特，我很想知道你的頭銜是什麼。你的報告標題很有創意。

Your next question comes from the line of Graham Dick with Piper Sandler.

你的下一個問題來自格雷厄姆·迪克和派珀·桑德勒的台詞。

So I appreciate all the color you all have given and most of my stuff has been asked and answered. But I did want to circle back to deposits, just one last time. So correct me if I'm wrong. But I think that we had kind of talked about this quarter as being a stronger growth quarter for you guys seasonally, just 4Q and 1Q typically are and then kind of growth slowing, I guess, throughout 2023.

因此，我感謝你們所給予的所有支持，我的大部分問題都得到了詢問和答复。但我確實想回到存款上來，只是最後一次。所以如果我錯了請糾正我。但我認為我們曾討論過本季度對於你們來說是季節性增長強勁的季度，通常只有第四季度和第一季度，然後我想整個 2023 年增長都會放緩。

Obviously, 1Q is unprecedented on the funding side. But I just wanted to hear from you guys kind of what you saw. I mean you look at the $90 million number every month being made. I mean, obviously, on a net basis, there had to be some outflows. So I just wanted to hear what you guys saw in March in terms of maybe customers calling up or anything like that?

顯然，一季度在資金方面是前所未有的。但我只是想听聽你們的所見所聞。我的意思是你看看每個月的收入是 9000 萬美元。我的意思是，顯然，從淨值來看，一定會有一些資金外流。所以我只是想听聽你們在三月份看到了什麼，也許是客戶打電話或類似的事情？

And then also how that activity and the activity right now plays into your projections for the rest of the year? And then maybe how that fits into the loan-to-deposit ratio piece, where I know we had talked about trying to stay under 100%. I'm just wondering if that's still a goal for you guys and how you might try and get there if so.

然後，該活動和現在的活動如何影響您對今年剩餘時間的預測？然後也許是如何適應貸存比部分，我知道我們曾討論過努力保持在 100% 以下。我只是想知道這是否仍然是你們的目標，如果是的話，你們將如何嘗試實現這一目標。

Thanks, Graham. I'll start off, and I'll let Jude follow up. I think what we typically see in the first quarter, you are right, with some seasonal deposits mainly from municipalities. What we really experienced this year, which was different than we have in years past.

謝謝，格雷厄姆。我先開始，然後讓裘德跟進。我認為我們通常在第一季度看到的情況是對的，一些季節性存款主要來自市政當局。今年我們真正經歷的事情與往年不同。

The same amount of dollars came in. But they flowed in and out during the quarter as opposed to hanging on longer. And I think that was just a function of the economy and the rate environment and really the inflation and just money moved out of that faster than we have seen in the past.

同樣數量的美元流入。但它們在本季度流入和流出，而不是堅持更長時間。我認為這只是經濟和利率環境的一個函數，實際上通貨膨脹和資金的流出速度比我們過去看到的要快。

As far as inflows and outflows go, what we've seen and we've monitored this really for the last 12 months, but more specifically in the last quarter. New account openings continued to outpace account closing.

就流入和流出而言，我們在過去 12 個月中看到並對此進行了實際監控，但更具體地說是在上個季度。新開戶數量繼續超過賬戶關閉數量。

So our originations still remained high. I think the problem that every bank is dealing with is outflows or repositioning of existing accounts, noninterest-bearing accounts into interest-bearing accounts. But through our monitoring over the last year, that seems to have started to draw closer and closer.

所以我們的起源仍然很高。我認為每家銀行正在處理的問題是現有賬戶的資金流出或重新定位，無息賬戶變成有息賬戶。但通過我們去年的監測，這似乎已經開始越來越接近。

I think it's worth noting for us specifically over the course of 2022, some of those deposit balances were higher, some of because of COVID. But for us, more specifically, we had back-to-back years with hurricanes that impacted different parts of the state, so about $193 million of deposits rolled out from 2 of our different regions last year, specifically.

我認為，在 2022 年期間，我們特別值得注意的是，其中一些存款餘額較高，部分是因為新冠疫情。但更具體地說，對我們來說，連續幾年颶風影響了該州的不同地區，因此去年我們從兩個不同地區提取了約 1.93 億美元的存款。

So dealing with that and continuing to grow deposits, numbers of accounts. As I mentioned earlier, we opened about 700 accounts for -- or about $22 million in noninterest-bearing deposits in the first quarter. So we do see signs of continued growth with account openings and progress in that area.

因此，要解決這個問題並繼續增加存款和賬戶數量。正如我之前提到的，我們在第一季度開設了約 700 個賬戶，相當於約 2200 萬美元的無息存款。因此，我們確實看到了賬戶開設和該領域進展持續增長的跡象。

The outflows are challenging. I think that is part of the economy that we're going to continue to deal with. But the focus is definitely on continuing to grow that deposit base.

資金外流充滿挑戰。我認為這是我們將繼續應對的經濟問題的一部分。但重點肯定是繼續擴大存款基礎。

Yes. I think I would just add that certainly, we still want to manage towards that below 100% loan-to-deposit ratio. I think it got a little harder over this quarter given everything has happened. So we're just going to have to work through like bankers and figure out ways to do it.

是的。我想我只想補充一點，當然，我們仍然希望將貸存比控制在 100% 以下。考慮到發生的一切，我認為本季度的情況變得有點困難。因此，我們必須像銀行家一樣努力解決問題，找出實現這一目標的方法。

We -- that involves incremental changes to incentive plans for deposit gathering, for example. And it involves slowing down the loan growth, as I was talking about earlier to kind of right-size with -- make sure we we're responsible from an incremental cost basis for deposits to fund that growth and just be something that as with all banks, we'll have to -- particularly those that have experienced strong growth over the past 2 or 3 years, we'll have to grind through making that happen.

例如，我們——這涉及到對存款收集激勵計劃的漸進性改變。這涉及放慢貸款增長速度，正如我之前所說的那樣，調整規模——確保我們有責任從存款的增量成本基礎上為這種增長提供資金，並成為與所有其他國家一樣的東西。對於銀行來說，我們必須——特別是那些在過去兩三年經歷了強勁增長的銀行，我們必須努力實現這一目標。

But certainly, we haven't changed our goals in terms of where we want to be from a loan-to-deposit ratio. And I would expect that over the next few years, we'll have to -- all banks will have to probably run a little bit, not all banks because some banks are already lower, but we'll certainly have to recalibrate to run a little bit lower on the loan-to-deposit ratio than we have historically.

但當然，我們並沒有改變貸存比的目標。我預計，在接下來的幾年裡，我們將不得不——所有銀行可能都必須運行一點，而不是所有銀行，因為一些銀行已經較低，但我們肯定必須重新調整以運行貸存比略低於歷史水平。

But it's going to take a few quarters to get there. And good news is we've got plenty of contingent liquidity. And we've got plenty of good inflow and new deposit account opening.

但需要幾個季度才能到達那裡。好消息是我們有充足的或有流動性。我們有大量良好的資金流入和新開立的存款賬戶。

We just need to make sure we're doing all we can to make sure the outflow doesn't equal that inflow. So there's, some opportunities there that we'll take advantage of. But it will take time, and it's going to be a challenging year for everybody that we'll run through. But I think ultimately, it will end up making us better.

我們只需要確保盡一切努力確保流出不等於流入。因此，我們可以利用一些機會。但這需要時間，對於我們將要經歷的每個人來說，這都將是充滿挑戰的一年。但我認為最終，它會讓我們變得更好。

That's really helpful, guys. And then, Greg, this is just a quick one. But I was just wondering if you guys had the rates on interest-bearing deposits at the end of the quarter, kind of like what you gave on loan yields so like the end of this quarter and then the end of last quarter, just a comparison on where you saw?

這真的很有幫助，伙計們。然後，格雷格，這只是一個快速的。但我只是想知道你們是否有季度末的有息存款利率，有點像你們給出的貸款收益率，就像本季度末和上季度末一樣，只是一個比較你在哪裡看到的？

We posted interest-bearing at the end of the quarter was 3.89%. And that was up from about 3.40% at the end of December.

本季度末我們的計息率為 3.89%。這比 12 月底的約 3.40% 有所上升。

By the way, Dick, I'll add. You did ask about -- . You did ask about client interaction through the volatile period there. And I'll say that we came through that feeling very confident in the strength of our relationships and never had a day where we felt like there was a growing concern across the client base for the health of our bank.

順便說一句，迪克，我補充一下。你確實問過——。您確實詢問了動盪時期的客戶互動情況。我要說的是，我們經歷了那段時期，對我們的關係的強度非常有信心，從來沒有有一天我們覺得客戶群對我們銀行的健康狀況越來越擔憂。

We certainly get questions about the way the system works and insurance and are there other ways for -- to feel even more secure, including some of the promontory products that's out there in ICS product set.

我們當然會收到有關係統工作方式和保險的問題，以及是否有其他方法可以讓我們感到更安全，包括 ICS 產品集中的一些海角產品。

But overall, conversations were more positive about how are we doing and are we okay? And really, we're not in alignment with what you heard in the national media. And I think that's probably pretty common across the community banking space that the CNBC reports in the morning were not reflective of life on the ground for most community banks, including us.

但總體而言，關於我們的表現以及我們還好嗎？的對話更加積極。事實上，我們與您在國家媒體上聽到的情況不一致。我認為這在社區銀行領域可能很常見，CNBC 早上的報導並不能反映包括我們在內的大多數社區銀行的實際情況。

Absolutely, I agree with that. And then, Greg, just quickly back to that deposit spot rate. You said 3.89%. Is that CDs or is that -- I was just looking for more of the blended average, I guess, of the whole?

絕對，我同意這一點。然後，格雷格，快速回到存款即期利率。你說的是3.89%。那是 CD 還是——我只是在尋找更多的混合平均值，我猜，是整體的？

That's the weighted average rate. Yes, that's the weighted average rate for our interest-bearing deposits opened in March.

這就是加權平均利率。是的，這是我們三月份開立的計息存款的加權平均利率。

(Operator Instructions) And there are no further questions at this time. I'd like to turn the call back over to Jude Melville, for closing remarks.

（操作員說明） 目前沒有其他問題。我想將電話轉回給裘德·梅爾維爾，讓其作結束語。

Well, we appreciate everybody's time. And this is our third call, I believe, and hopefully, we're improving at this just as we improve at everything we do, not just for the quarter, but for the long run. We're pleased with where we are, and we think this year is going to be challenging.

好吧，我們感謝大家的時間。我相信，這是我們的第三次電話會議，並且希望我們在這方面有所改進，就像我們在所做的一切方面有所改進一樣，不僅是為了本季度，而且是為了長期。我們對目前的狀況感到滿意，我們認為今年將充滿挑戰。

I think that's probably pretty self-evident, maybe even too obvious. But we feel well prepared to take on that challenge and look forward to making sure that we're there for our clients should that end up being something that they need versus just the banking issues that we're facing. So feel free to reach out in between calls if you want to talk about anything further and I appreciate your time. Thanks.

我認為這可能是不言而喻的，甚至可能太明顯了。但我們已經做好迎接這一挑戰的準備，並期待著確保我們為客戶提供幫助，如果這最終成為他們所需要的東西，而不僅僅是我們面臨的銀行問題。因此，如果您想進一步討論任何問題，請隨時在通話期間與我們聯繫，非常感謝您的寶貴時間。謝謝。

This concludes today's Business First Bancshares Q1 2023 Earnings Conference Call. You may now disconnect.

今天的 Business First Bancshares 2023 年第一季度收益電話會議到此結束。您現在可以斷開連接。