FFBC
#Hey <UNK>, thank you.
We think about M&A really not in the context of so much stock price as we do our focused on first, strategic fit and does it make sense for us in our long-term franchise value.
Second, is it operationally feasible and does it make sense for us to be able to execute on a deal.
And then third we look at the financial elements and that's really where our current stock price comes into play as well as what the target may be expecting, what our earn back period is, et cetera.
So, it's one piece of one factor that we take a look at.
As I mentioned I think in last quarter's call, maybe the one before, right now we are predominantly focused on organic growth because we feel good about the operating leverage that we're getting from our organic growth.
We continue to look at opportunities and certainly if the right strategic one comes along we won't be afraid to, as we've done in the past, to pull the trigger, so that's how we think about it.
Our focus on the capital side is really first on supporting organic growth as a company.
Hey Dan.
Morning, Dan.
On the competitive nature, Dan, we are not really seeing any competitive pricing pressures in the markets right now.
I would say if anything for us the focus is just on making sure that our deposit growth keeps pace with our asset generation.
Right now we're roughly at 92% loan to deposit ratio, we've talked about in the past ideally we would love to see that right at 95%.
So we will continue to manage along those lines.
Thanks Dan.
Thanks Kate.
And again, just thank everyone for their interest in First Financial and we will look forward to the fourth-quarter call.
Thank you.
