FULT
#Morning, <UNK>.
Good, how are you.
Yes, so on the commercial real estate side, I would say that there is some less competition, and pricing I think has stabilized and perhaps increased some.
Threshold, on the thresholds we're fine, and the first part of your question, <UNK>.
Yes, so as we look at our backlog, we've been experiencing an opportunity from market disruption.
And as we look at our backlog going into the fourth quarter, I think the percent of our backlog remains about the same when we look at what's coming from market disruption.
So we believe it will continue at least in the short term.
<UNK>, I would say it's both.
So we continue to make improvements, and we're certainly subject to the schedules that are set by the regulators.
Morning, <UNK>.
Hey, <UNK>, this is <UNK>.
So yes, you're right about the actual shift in the mix, but the one thing we are seeing whether it's C&I or CRE is a continued shift away from fixed into the floating.
So that trend probably isn't affected by the mix shift.
Certainly from a resi perspective, the popularity of the jumbo product is very much 15-year fixed.
But as a percentage of total, it hasn't had a huge impact on originations because those remain at historically low levels as well.
Sure.
So we've got of the total loan book about 80% is non-fixed, of that $10 billion or so, about 40% is LIBOR the rest being prime, $4 billion.
And we've got about $2.5 billion of exposure within that $4 billion to LIBOR, either on the swap curve or the one and two month.
Okay.
It wasn't ---+ it was not a meaningful impact though on the quarter on our NII.
It is for a couple of quarters.
We'll see this kind of run rate, so we were at, call it, $3.2 million a quarter overall pretty steadily historically and that's dropped down to about $1.9 million.
That will continue for the fourth quarter and the first quarter, but then it will tick back up again.
We'll get back about 60% of that savings because Fulton Bank is over $10 billion.
So we really just benefited from Fulton Bank, because it went over $10 billion early this year.
But you have a four-quarter average before you get to the large bank premium schedule.
So it will be the same run rate for the next two quarters, then it will gradually increase.
Once we consolidate all the banks, which over time, we will return that to the approximately the run rate that we've been experiencing at around $3.2 million a quarter.
Well, the charter consolidation will begin as soon as we can, and we'll do one bank at a time.
So if when we're allowed and a strategic acquisition develops, we can delay the consolidation.
But I would anticipate that we will begin it immediately or as quickly as we can and then complete it.
If a strategic acquisition doesn't develop, or if it does we can delay.
Morning <UNK>.
Hey, <UNK>, this is <UNK>.
So I'll take those in reverse order.
So the DP reduction was meaningful this quarter, and it will probably be choppy and volatile certainly based on volume.
But these are largely major technology contracts that don't come due every year, every quarter.
We're working hard to renegotiate these for more favorable terms, so we're able to benefit from that this quarter.
But that doesn't necessarily mean that next quarter or the quarter after we won't renegotiate one that's been in place for ten years, and have a higher rate on that.
So we're going to work hard to sustain the level that we've dropped to, but I just wanted to highlight that.
But it's not necessarily as simple as yes, it's sustainable.
On the professional services, that can be pretty volatile quarter to quarter.
But I guess I'd tell you that if you look at the run rate that we've seen year to date or the run rate for the last year full year, I think that's maybe around $2 million, $2.1 million a quarter, then that would be a good run rate to use.
We're not going to try to give guidance on intra-quarter volatility based on timing and billings.
Thank you.
Hey, Matt, this is <UNK>.
So just general rule of thumb, we'd benefit by about $6 million of pre-tax NII on a full-year run rate basis for every 25 basis points.
So, Matt, the loan growth primarily came in our Pennsylvania and Maryland markets, and I don't have the specific ROAs for the banks in front of me.
New Jersey would be below average, yes.
Well specifically in <UNK>adelphia we'd be close to zero, and we'd anticipate or move into <UNK>adelphia to be an area that will provide growth for us.
So currently we have just the one person that we hired who is in the market to hire additional lenders, and we now have two mortgage originators in <UNK>adelphia.
Thank you all for joining us today.
We hope you'll be able to be with us when we discuss fourth-quarter results in January.
