PFS
#Hey Matt.
We actually ticked up a little bit this quarter up to 79 basis points on a trailing 12 months return.
So I think we're pretty stable with that level.
We're pretty stable at that level.
I think you want to keep the clients.
It's the competition in that space also.
We don't really look for custody business much in that space, but if our client wants to do that, we could work on it.
It's been pretty stable all along.
Obviously markets move and that will affect the revenue on the go forward basis.
If we have a stable market, I think it's going to hold serve.
[ph].
Well, kind of why you support, if you like, the dual system of banking and charters.
You keep supporting it.
I would think that from our standpoint I would be concerned about everybody being in the same and the regulators making, "Okay, you can only have X amount of this, X amount of that, and then we\
The REIT also in addition to the balance of tax exempt issue, so we had a little bit of benefit on the state tax side which helped us.
<UNK>, I'm sorry.
It stopped ---+ I said <UNK>, I meant Matt.
It's become negligible.
I kind of stopped tracking at this point.
Good morning.
Well, I think, <UNK>, we're not really ---+ we always look at what is the best risk adjusted return and making sure you have the right group behind it to support any kind of exposures or outside the parameters that we have established.
Of that ---+ the pipeline, we have about $1.5 billion, we'll get about a 50% pull-through rate, and in there about ---+ of that, so let's say $760 million, you have approximately $200 million that would be in the CRE space, approximately $190 million in middle-market and $176 million in business banking.
So it's pretty well diversified all the way through including some asset base lending.
And I think we look at all of these criteria.
One thing I can say that we have done is we've gone back and look and keep our thresholds and our return on equity model.
So any multifamily, any CRE, any C&I meet those hurdles going forward.
And I know that in the commercial real estate space, it's not just multifamily, we're seeing a bit of industrial production coming in also.
Yes, that's what we're (inaudible).
Yes, absolutely.
That's correct.
The pipeline yield is about 3.67% versus I think it was at 3.97% portfolio yield.
Thank you.
Well, thank you for your attendance today on the call.
As I referenced in our release, we are named by Forbes as one of the Best Banks in the United States and we're very proud of that from our officers and our employees and our board.
And we look forward to seeing you and talking to you on our next call.
Thank you very much.
Have a great day.
