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spk_0: hello and a warm welcome to the south date corporation that go to any cool my name is melissa and i'll be your operator for any questions on today's cool piece tall followed by one on the telephone keypad if you change your mind prefer thoughtfully by to i now have the pleasure of handing over to will matthew to begin will over th
spk_1: the morning i walk result group or twenty twenty one goal wilmer appears majority of yogurt call or walk to john corbett of feed your dog or your product for good workout or also jonjo quad core other quarter the former co all be that will provide prepared remarks or the little girl for question evening both companies should press releases to an alternate route twenty twenty one also posted a presentation for that we were virtual to call on our relations work floyd before we begin our more obama you that comments we make may include portal country much wouldn't leading securities litigation reform act like you're not wrong and it looks forward looking statements like or subject to the superbowl please review the for look into school over a reporter language in the press release and presentation for more information about roof and i'm sure which may my to beltre and the goal robert who executive chairman
spk_2: good morning
spk_3: your interest and twelve day
spk_1: we're pleased to porto performance for the third quarter to perform football and the team made much progress with each for three years with broker velma profitability and growth we knew going into two thousand and twenty one that this would be year of significant change for the company building the foundation for order bank which included new technology account these are difficult changes and take time to georgia but this year has petitioned will put the future as an investor it's hard to see the benefits from the short term of and in a way to the third or with the corner that provided a glimpse into the future opportunities for self day to to to be and twenty one was a year change to build and twenty two will be you're focusing on are so the internal opportunities for growth of fish and the advancing on technology and during our cultural real and meaningful we have grave markers a strong and growing cream and the opportunity to make her company better we will for to reporting to you the progress we've made in these areas of
spk_4: the next year
spk_3: i will now turn nicole over to job
spk_1: robert good morning everybody hope you and your families are doing well throughout the pandemic we've talked about the population migration to the se rapid reopening of our markets that are growing loan pipeline not surprising won't production increased significantly last spring following the vaccine all well and that trump continue to the third quarter in fact won't production of two point six billion in the third quarter is a workforce and seventy two percent higher than a year ago or predict guidance was horrible single digit won't grow in the second half of this year and we excluded good guy but or core with ten percent annualized one group most of the growth wasn't see and i loans which is going trend or the last few course a portion of the sea and i won't brokers quarter was associated with seasonal businesses would support hurricane cleanup efforts for large power company to sort of this quarter growth seasonal and temporary or curse pollution and fourteen percent of our balance sheet is literally higher than our peers and were lucky to deploy the excess cash interest rates group billboards security the increased by over seven hundred million dollars were corner and loans increased by five hundred and thirty three billion dollars excluding ppp so we report about one point three billion over surplus cash and to earn enough the growth and loan and rising rate resulted in our corner interest income growing by five point eight million dollars the core we were encouraged by the commentary a few weeks ago about putting their asset purchases that we believe it felt good a unique position to benefit from rising rates over the next year a quality continues to be an autographed with no charges have zero based on during the cold as a result we really thirty eight point nine billion dollars in research after the reserve really are adjusted earnings per share landed a dollar ninety four so in return on tangible common equity was a point seven percent if you're with a single comment later in the coal on another strong corner at atlanta capital twelve percent loan growth i do want to report that we receive regulatory approval for the acquisition from we'll see see and we are now waiting for a job approval the older boat scheduled for nov sixteen so we're hopeful for close with the first quarter we literally thought there was a trance we could convert the computer systems for the first quarter but it looks more like you have a second quarter for that will push back because feelings for about ninety two we've accomplished a lot strategically and the last two years with the or we have two thousand and twenty and the opportunity with atlanta capital in two thousand and twenty one if we look ahead and only make the to go from twenty two will be a year that we are in totally focused rather than focused on thank him emanate be focused on continuing our recruiting and organic one group refining are powerful from new technology and improving or profitability as we saw this corners weasel ten percent loan groom with an improvement of the expense day that a little worked in a true story can i have a powerful compound in effect on the corners the help alternative will now to provide further details on the core john october somehow i got margin not interested curb and ownership of as well as credit of a provision for quite a lot a short on claudel a better treatment for the core total two hundred sixty million coordinated should get go shooting all accretion including ppp accretion a of a forty million from two to two hundred million which was due to an additional detail that the remainder which we can control over that a income per day or alone group and continued improvement at the bottom falling course helped improve our quarter just don't go predators morgan was two point six percent for two three four cuckoo low yields a four point o seven percent or finally from que to loan yields excluding people are you old were down chambers points to three ninety one low yields and que three were three a came down twenty four basis points from que tu to reminder it all struggled for sixteen the average ten year treasury yields dog twenty six basis points from truth reverse is true too oil costs are born to god forbid to thirteen gracious point or low growth excluding ppp was was five and seventy one million or sheila large group of reader thirty six million for the owner occupied theory regarding three million a construction which includes consumer construction power mortgages
spk_5: five million
spk_1: no family residential excluded construction was a global fourteen billion in the quarter a commercial pilot guadalupe of a stronger four point seven billion courtroom you'll note on for twelve we another good corner of law production
spk_6: well that on
spk_1: cause to department declined it reverses points to know basis points total deposits grew over three hundred eighty million after a three or forty four million dollar reduction treaty we could turn your to deploy some of the extra cash in the both long road securities security to about six hundred fifteen million versus to to grow up as you can fieldwork have to move to fifteen point seven percent aggressive and are food for fool belgians work their viewpoint of aggressive and we were below peers and security well above peers and character so we can pay to have extensive drop our additionally odor of profile and low was talking about the better alternative was eighteen and nineteen current monitors to income mother shouldn't come of age of a million was up eight million to two warlock are keen on voyage banking and chrome improve our father of million from last quarter's ten point one million or remains well below left year's record or core production was one point krieger with purchase one for clearing seventy percent of total volume we we pay for percent of a volume of the secondary market got three percent from two to well shoot work margins green or film just a return to levels more consistent with historical levels like approval from coup to during the or train correspondent income of twenty four point two million dollars for with computers twenty four point department for you gov also increase two point two billion so forgettable to be where we left corner associated with our or system conversion on another six build a little jewelry excluding orderly expenses would work for to watch seven million excellent for me from pure to of a law firm with a little piece of required or he do to building issue and are open should expect you to claims are activity three also reflects or four core of murder and creatures which were effective july one also genre first responder prefer commercial break for word capital one is now expected to occur the second quarter twenty twenty two rather than to walk through water respect to get are you and twenty twenty three bottling before for we push book module parking lot
spk_7: a few bugs
spk_1: on to of clerk prefer cooking for all our approval projections report your last robbers were to know the reduction in the world for gotta wash them decent brewed economic forecasts cause with to record a you to provision for long walk through a quarter million dollars use call waiting for moody's economics know as usual bollard and reviewed your drawing of functions with a good day for two summers and of to move to for more conservative waiting for true true before they could could push up about forty percent to thirty two girls want to law school although no a show about flawed twenty four the remote corner works what last resort would look from fifty thousand dollars per charge or which brings your fall quarter killed your virtual virtual to plug patients or the average of one basis point per quarter of two mph group of record i'm a little or in the reserves excluding people are shown for twenty dog and world thirty five basis points order for sure that they should fortune corners or one particular book for million and remaining american soldiers killed or called long turbulence little thirty three version or turn to grapple with the brilliant lot of trouble version forty four what location or repurchase to activity was more muted during the quarter of two ago we can only push to show for any problem cheers and to three hundred and additional one twenty thousand shares in early october you're out of the market to be workable shareholder meeting which is scheduled for november six two but even with the accretion long growth and repurchase or activity or capital ratios drawbridge troll would alert ritual that point one percent you wanna go a pornographer george bush couple of perjury in board show berserk bb pressure the record forty three dollars ability to turn point four percent over the last year of able to return to do a few hours of work are both cool like you will have good morning i'm pleased with girl group opportunity to share landaker up to build corners cornhole with you you know we piled on usually involves representations oil mod and those are available on our workforce also like to take my atlantic girl cremate for not agree cool the be added was a butcher integration planning related to shrug should they remain focus on helping our client pursue opportunities would be trilogy all the economic recovery mode during the quarter due to be don't cover your food and the org shortly who about the book to preschool monetary paul crucial the course of the economy or clients are before we will continue to make it grow from for the future both most or driver in order to support line and resulting long term for group and loans to revenue it'll on a girl to recorded another corner of forward operating for as we reported to learn a girl board for people who have precluded issue for the third quarter of twenty twenty one compared to procreate for corner and forty six per diluted to build order worst you people do that revenue for coupon club billion dollars or nine percent annualized increase trouble for corner and an increase of thirty six percent the third quarter twenty twenty won't build for both much excluding hopeful prolonged through twelve percent annualized for before of twenty forty one and forty percent year over you mode origination boy was home recall floor by team and the long group was particularly shown in the commercial and industrial and commercial on are occupied real category leiweke girl became a public company almost six years ago the commercial load category to grown into the people who call powder approach growth rate protocol he worked for there were no george or during the quarter perform you know who a person of color of was zero point one zero percent korea and flaws and corporate board loan decrease thirty four percent as food we recorded a negative publishing two point four million dollars for the portal be allowed how current law firm couple pre launch was one point one eight percent of corner route with short focus on corporate crucial management difference for atlanta based enterprises and for high volume payments from trump card companies across the country good lawyer could open the open goal or department financial we became a public property almost six years ago airbrush total deposits abroad twenty percent compounded annually and airbrushed amount of grown and thirty percent call brother average growth rate are you for your service charges and airbrushed deposit for the able to continue to grow with the forty percent range for the corner airbrushed about increase or cream preferred and was formerly order bride and groom thirty eight percent year over year the original to couples and a basis going down from cambridge support for school donald trump buried demand and average more than thirty nine percent of average total bullshit order to the for over twenty twenty or to be applied for will bush and weeks but continued for momentum and loan department and we're getting drunk okay will be what are you a few questions during the cute a portion of or cold morning
spk_8: now back to jog
spk_1: dog who were courage with the help he won't group of the cool progress on expert food and and group and coordinate interest income and we could shrink a good way capitals results in a rising interest rate backdrop were feel good about our momentum as we entered the two girls and twenty two operator let's open a large question
spk_0: thankyou if you would like to ask a question now be followed by one on the telephone keep up don't from the by to if you change your mind our first question today comes from jennifer them the of truth jennifer a bikini
spk_9: think you could we
spk_10: the border juniper
spk_9: with a very good couldn't do you think you your pipeline in your business momentum right now
spk_10: could be better than mid single digit legroom
spk_11: continuing over the near term yeah what we put in the dirt on page world which are very illustrated and what's going on through the pandemic and in the why the loan production or that we've experienced that's cool with won't production originations the two point six billion ago last quarter to seventy two percent from a year ago that woman the group point behind the longer we can nine hundred seventy three million if you do both to have years it's more the building the no longer dollars that we've experienced you know the poor to do is is seasonal basis that we had we do business with them the company to do hurricane katrina for power companies and that was a part of the group oh cool the or pipelines are growing into october
spk_10: but at the same time or continue with the food sales from operating company from with some theory properties will be blowed can't to a bigger guidance jennifer originally was mid single digits to the back of this year we wound up ten percent for the one one motorhead into the fourth quarter maybe because some of the seasonal businesses and will have somebody to know we might be loaded mood single digit growth the fourth quarter but i think our trajectory as we head into twenty twenty two going to look good dude up or single digits which are they get the guns we've given previously to be grown tried mid to upper single digits in two thousand twenty two
spk_11: okay him to quantify how much to the load production in the third quarter was from
spk_10: the more hurricane related wedding yeah it's about a third of the net loan room the good news that we have some clients the do want more power companies the north beach and the gold coast states the come in and to the hurricane so that isn't typically increases in the third quarter want and the for the you see some of it come down and the first and second quarter of a years has been third of the overall group
spk_11: okay much more questions on called you last is stored near really low what what's your outlook for the up with years you think i can stay
spk_0: really low maybe not point is low but the really well
spk_12: i'd be to work late if you look at the average quality metrics or bar company does it does zero percent charge of snowflakes interstate old very conservative underwriters relative to peer groups in the metro city go back through the the cycle
spk_13: right now jennifer were sitting on a tremendous amount of cash on the sidelines up with our banks but also with our consumer commercial customers so
spk_11: i would think that at least in the short to intermediate time period in the next year so will continue to see good as quality metrics as long as there's so much cash in our our clients so balance sheets thank you i give
spk_14: thank you jennifer will now be leaving a the t brady preston of stevens brady a the key
spk_13: a good morning everyone morning
spk_11: our get just real quick used on the on the scene and all the hurricane commercial relationship so termed a modeling should we expect that you know this kind of similar in other users very fair to the overall see integration that about job hundred and than daughter two million dollars or so drives that that level and seasonality in the third quarter you know every year going forward
spk_13: you know it it like predicting the weather so our clients that your head client relationships were storms landed so it might be a little bit outside this year that it would be in the future
spk_14: but it's a business we like a lotta are the counterparty of the other end of the repayment is a large publicly traded power companies said this year i think of the little more outside just because of where the hurricane landed
spk_13: got it okay
spk_15: okay
spk_16: maybe is on the mortgage the mortgage business
spk_11: could you could could you tell me what the what the size of the service and portfolio was at the end of the quarter other goes by point eight billion a june thirtieth you know just in terms of the of the land your service and
spk_13: barely the that i don't have the number front of me but it is pretty close to that number it might be closer to six billion and we did grow in a little bit over the quarter but
spk_11: yet for somewhere in that general general assembly okay okay thank you and you know the the last couple of corners the you know you you ratcheted down the amount of be mad about to nip sold in the secondary market you know from like seventy percent of us are so close to like fifty five percent
spk_17: the
spk_18: in august
spk_13: thinking about the putting the takes between your expectations around growth on the commercial side the you know and then the residential production should we expect see you know the the secondary percentage the going to remain in the fifty five percent range on board or should we expect the move back up to the seventy percent range
spk_11: you've already got i would think it's probably put somewhere in between that of i think it's probably closer to stick the yeah i think what's gonna happen if you're to the mb b a forecast connect fear or the refinance indexes for to be considerably down which doesn't bother us very much because seventy percent of our visitors purchase but what that will do on our portfolio loans likely a builder lol for less refinance their and so just the natural evolution of blown growth around portfolio it'll just take longer because we won't have much prepayment but you know obviously as we think about the the economic whether to go alone or whether to keep alone and have to do it again on fail margins that have to do with one are quality position that with several things and sixty percent of a good modeling how model okay thank you for that some a balance sheet the security grow
spk_13: when you know thinking about the yield that you for on this quarter what more a day what the a factory duration of the portfolio and you know what are your current plans for for securities grew up here in the fourth call it every leave again we outlined in there they get paid sixteen which just described sort of the growth in our security book and up of the the division and our cast positions at the end of the third quarter we have five point seven billion dollars in cash and six point
spk_11: four billion dollar securities book as you mentioned it did grow haven't hundred million i think we mentioned on the call we were both for cats with a girl five hundred million or so the quarter what app and of course and the in the end of the september we have fallen i rate and increase for took advantage of some of that toward the end of the quarter
spk_13: you know if we think about that portfolio and as you all model relative to us
spk_11: and atlanta capital combine your today were around left and sixteen percent of and that meant to ask that
spk_13: know i think for us as we look at it as the combined company and forty five billion dollar balance sheet were somewhere between sixteen and eighteen percent
spk_11: is the way i would call a mile for maybe seventeen or so and and then you know we're just gonna see what the yolk or does forget so much uncertainty but i think we've gotten to a division we go lot more comfortable with that where we were a few corners where we were more like eleven or twelve percent of that that every wrote it's well i just added you know that that that assumes that we don't have unexpected additional deposit growth i think the industry received or
spk_13: liquidity coming into the body this year than than many of us expected so know it's it's hard to predict for the based on what we see today that's that's our expectation and if it if you look at that kind of play that out to the end of next year with atlantic capital and with for the flap deposit rate on with our longer at the way john the mentioned that it work
spk_11: still going to have four billion dollars cash that not about sheet that a we're going to have plenty of of flexibility to do whatever is necessary when the time comes yeah it can tell a couple more here
spk_13: on the origination saddam alarms you know what our modern origination yields coming on at in a lot other companies have and bemoaned how competitive it is themselves on the get a change when you were that long enough
spk_19: yeah we barely we we will mention his remarks i think it three eight pm that quarter or with the new production and you know what part of it is of course the duration of what yeah the lending you're doing and you were trying to be prudent their relic the swapping some some larger deals
spk_11: and yeah sometimes that showed up in that field day one and does it show up over a period of time attending a lot live or so for does help young are are yield with three eighteen with the pack up and right out expect declare the five year treasury backed up probably thirty or forty this point i would expect that the new production yield would start moving back up towards to the
spk_20: yeah okay and then last one is on the provision
spk_11: the they're going other twenty better so out of the a
spk_20: that the reserve ratio this quarter
spk_11: you know could you get your freshman iraq where i thought it was that the day one combine was one fifteen
spk_21: you know percentage states as a and you know it is that still a good level to think about you know from mine from a normalize provisioning perspective
spk_1: going forward he ever it's well
spk_11: you know it's it's it's a hard question to answer saw at i think that the a reasonable
spk_13: you know forecasts but the complexity
spk_22: you have would see so being a doctor when it was and then the the
spk_0: unprecedented government
spk_23: reaction that has occurred and then that leading to a recession where people don't have credit lot it is going to
spk_24: impact
spk_23: the statistical historical correlation between you know recessionary type economic metrics and that and last drivers and and resulting losses so it'll it'll be an interesting issue of the whole industry tackle when you get have a dataset come into the historical data that's going to be abnormal at best so yeah think i think that's a reasonable way to model but i just want to clarify that it's a it's a tough modeling proposition
spk_11: based on on the fact we've been through a period which was really no losses and part of you know recession understood that you very much take my question that iran appreciate it thank you very thank you very deeply now meeting on t catherine manner of kbw catherine peace go ahead thanks good morning a good morning
spk_1: at the question on expenses you and then production and and business quarter just given we have the coffee coughing only come in and that we've been from really most of the of your peers and had reported care foreign an increase in a sentence just given when you can question and you know and nicht higher technology path
spk_11: and all the things sam get the happiness and we're taxed on extent growth from here and on and how will you think i kind of fair run rate is cared for her twenty twenty k maybe once they got a few the i caught cheating fully in there
spk_23: there and you know we we we still expect you know in the short term to for to be what we had a projected before they're always a few things that move one way or another that are hard to predict your this quarter we had some you know things with
spk_20: current clients for example were self insured but material i would think that the that range of to tentative team that we expressed before it is about right for the fourth quarter the summer to que three looking ahead were still completing our budgeting process
spk_11: you know their guidance that we have given to the team is that we need to and expect to be in the low single digits in terms of are expensive drugs for next year you know
spk_1: and as we said with you know what are we letting capital we expect to save roughly a third of their expense base that about twenty man on a lot basis or five million a quarter
spk_25: with us during the conversion like you to you you'll start to that que three and it'll show more and queue for for them
spk_26: the average at all that of course we are the same competitive market or one else is for labor and all that but we're we're working hard to try to keep our expense growth down to the that low single digits range
spk_27: and think he mentioned earlier that the a to the i conversion you think it's late keep you waiting it would have you changed when you believe you're close the deal
spk_0: you know we have not
spk_28: as you noted that to two remaining
spk_13: things will you to achieve to bill cosby wanted that shareholder vote on which is scheduled for november sixteenth and then secondly receive federal job approval we were see a go to t approval
spk_11: so we have we have no reason to believe that are currently planned korea one closing would be beyond that but you know thought of our control a tenth grade
spk_13: thank you so much i could get her do thank you have been now leaving a the key stephen skeleton of piper son stephen pay fifty two two question
spk_11: good morning and want reporting on i am just a followup will on your comment there did i hear you tell it correctly that you guys do need a thief that approval on the deal and and then we just sitting there was one few days ago the maybe guy did he fed approval but i'm sure there's another deal kind of your markets that's been delayed the i guess have you gotten any insight on what that time i might be a you did you don't have a reason to believe that change but just anecdotally what you're hearing from from people a it's gone you know we we got oh cc approval rather rapidly to as wilford this year older voters said so we've heard nothing concerning at all from the federal reserve but we do know that they get a lot on their plate right now so i think the balls and their court and so we're optimistic and haven't heard any reason why the
spk_13: or would be delayed that them that the than washington
spk_11: okay then
spk_29: and then again john you mention kind of for twenty twenty two the strategic fabricated really more on
spk_11: holden and eight he be i organic growth continued new hires and don't put out some clean credit press release the around the the new tell you been able to add i'm just wonder if you can frame that up in some way and i'm if you haven't numbers on how many lenders you've added over the last twelve months or what kind of what your total pool of lenders are what percentage increase anything like that they would kind of frame up just how big an opportunity that been on the hiring for yeah we we added we did a press release we added nine bankers and the third quarter and the trend is very similar they typically you know twenty to twenty five thirty year better and coming out of the largest banks in the metro markets typically their long term middle market baggers commercial bikers and treasury specialist so we we've just got a unique opportunity here with the company that we build that has both and entrepreneurial culture as well as the scale to compete with the largest bank for the to become a very very attractive platform for so i look for that hates to continue yeah i think in the last twelve months i think it's than in the neighborhood of eight to ten a quarter so thirty five forty bankers a year that we're looking to add and you know we're real encouraged with the platform with god and the and the attraction that it has for the bigger bankers
spk_30: okay very helpful maybe just lasting for me and now on
spk_31: atlanta capital had a recent freshly talking about their expanded felt relationship and i'm just wondering i don't know if dog though they are both there's any commentary there of just understanding what that expanded relationship mean than what it could mean for the pro forma company any increase is the kind of expectations and the below canal
spk_0: stephen the the press release which are worried we talked about that we're getting the issue a secured credit cards for self and
spk_13: as of close because we have several thousand cards of they the now with of average balance them baby couple hundred dollars
spk_11: and again these are secured card so this this was another avenue of loan grow well under the spell program we have the credit builder account these are the of the secured with install see to secure the loans that have an arrow spell for this double hundred dollar range and our area the credit car secured credit cards with your average spell to slogan the in the couple hundred dollar range
spk_32: and we expect the this the to grow rapidly over the next few quarters
spk_11: earlier this year we have two hundred billion dollar guy and format for so we've been increased to five hundred billion dollars to accommodate perfectly the girl so i think you'll see go to accelerate over the next three quarters of from the from themselves harvick that's really helpful thanks for the color guard and congressional record like to thank you even before we move on to our final question that would be star followed by one if you'd like to watch their question if you change your mind therapy stuff on it by teach can't see a question on next question is from christopher murray knack of johnny montgomery scott christopher peak go ahead
spk_13: thank you ma'am are that i guess if we stuck with dog for a second base really strong deposit broken as as well as the cash out that still outstanding atlanta capital with any of that february dog and cats don't have a prominent audio on close ill or something so now that he's you know chris we we typically of bill balances not in the last two quarters of the year
spk_11: but the be oh that's that's will stick around to it did last year and yeah i don't see the significant moves to would grow liquidity from system in terms of monetary policy and football of so it is organic my little stick around there are some seasonality they are related to the the a ch processing business with payroll companies but term that will see muslim i'm room get chris i would focus on the average know better than the island because that period and balances inflated with the payroll becomes we have thursday the big number for us both quarter ended on a thursday but that doesn't played the balance but you'll get on an aerospace as we had thirty berserk like order and analyze growth and deposits in the yard a thirty eight thirty six thirty eight percent growth year over year
spk_13: so strong the amid the paints percentage airports group and and the plan for like it's a trend that sustainable
spk_11: great thanks for that a mob back and phelps they found out just went off more about the correspond back in business obama was the opportunity so much trouble corners as well as and any products and your vision all in the future
spk_1: it your we be and that doesn't have than really perform pretty steadily this year you know if you think about the opportunity there
spk_11: you all the banking system have access to posit that they have to do wanted to thank the their act alone at are invested and so just like we have all the success liquidity third of our clients about and quiet and so your i would think that shape the yorkers going to gonna matter they are sold the yolk or gets deeper will do more fixed income of the elder get latter will do more swap and come on one the you even last couple of days you seen the the interest koreans are free curve flatten my guess is that aren't pick up some but anyway i think what we're we're trying to do is fill out some are called little special deals and them that fixed income and our product i don't think they're huge need a meat movers the relative to the income but you'll you'll just continue to see at a really solid performance of that group you know with the the great the one hundred million dollar club revenue builder felt that have done really really well and and that a phd facts about into fluff question bullets well and bombed the fix for landing in the portfolio because forty nine percent vision that changing much as two thousand twenty two twenty three community okay strictly post motion chris but really now that and a pretty consistent number for us overtime and and and are magic to rock the picture land and we do that are some portfolio mortgages is generally can be in a five year short of rage and so there's still have a constant amortization of that rolling up in a rolling through
spk_13: and you know and that's important part i read that sensitivity about a kid even more important i guess is that is that poor funding based and now we've got a lot in a deck that shows are our deposit cost
spk_0: over the last cycle big getting back and twenty fifteen the on side nineteen of the deck as if you look at that i think that that's really more of that that sense to the story that affect the the loan repricing but the answer your question directly no i don't see that changing lifting differently from where it is today
spk_11: and and that we we did have that the fly than there and it will added it page nineteen and occurred to think it's worth yeah when you have to look at it for probably every one that on the call because i do think it illustrates the rising rate interest rates interactivity we have and can you know so much of his is tagged our deposit they and it really illustrate the important the our deposit and what we did and the flag on a page nineteen was we went back to the last rate back off during in the fourth quarter two thousand and fifteen all the way to the end of the right
spk_0: cycle second quarter of two thousand and nineteen and we plotted three things we plotted are combined deposit cause which of the bottom line middle line at the fed funds rate and the and the top line at the five year treasury which is where we do a lot of are lending and commercial lending and others and a what it shows is are combined power
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