SNV
#Thank you.
Yes, <UNK>.
We're glad we found a front end and pushed it like we said we were going to do and we discussed the ASR and we executed I guess last year.
So the average price of $26-plus has been ---+ I think we executed very well with the help of our friends in the investment community.
So we continue to watch that price.
I don't watch it every day in terms of what we're buying back, but we're trying to be smart about it.
Again, we think it's still been a very good buy for our shareholders to see us pull 7.5 million shares off the market at those average prices.
This is <UNK>
Let me take that.
From an SBA standpoint, we have, as an intentional investment at the beginning of the year in SBA, we, for the first half of the year, on a production standpoint, almost doubled what we had done from the first half of last year.
In addition to that, same thing, we had almost doubled in fee income.
The way we do SBA I think is an important piece.
We do it within our footprint currently and we engage the local bankers, but yet, we have designated SBA reps to help those bankers in the footprint.
It is widespread across the entire footprint today and that is how we're originating those loans.
We expect the second half to be a lot closer to the first half of this year as opposed to dropping off.
We do not think it's an anomaly for the first half.
This is <UNK>.
I think we're well-positioned for that, currently.
Honestly, when you go back through the place we've been, assuming that there would be rate changes, you wouldn't want a bad bet to take for long time.
Nobody really knows when that will actually change and I think we're well-positioned as we stand.
This is <UNK>
What I would say on the NIM compression is mainly across the board.
It's highly competitive in all of the different segments with which we are competing.
Even the variable rate corporate debt has seen tremendous pressure, as well as the community and even the retail side.
I would say we see pressure across the board and that's one of the things we have to watch on a daily basis to make sure we're selective to do what's profitable for us and the bank folks that we think we can build long-term relationships with.
It was up 1 basis point.
I think it's flat to possibly down a little later in the year.
That's correct.
Yes, the lower sensitivity was just change in the mix.
We had more money market accounts than CDs, that was a factor.
Just the fact that we had a greater level of deposits was a factor.
Correct.
Mostly on the on the liability side.
None.
Thanks, <UNK>.
Again, Mike, I don't want to [raise] the percentage of earnings.
We have a wide audience on this call, so I'd like to say that we're going to continue to look at certainly earnings are part of the equation, overall capital levels are part of the equation, concentrations are a part of that equation.
So without getting specific about what percent of what, I'd like to just say we're going to be very mindful of how important efficient capital management is to us and we'll continue to try to speak to that when appropriate.
We're not waiting.
If we waited for rates to come up, we'd still have a much higher run rate.
We think whether rates go up in the near term or not, driving expense out is critical to us and really to every player in our industry.
<UNK>be you add more on the production side as earnings increase, but we've been very mindful that when we add people, it's got to generate revenue.
We need to look for ways to get expense out.
Certainly, we would benefit from rising rates, but it's not causing us to pause on expense initiatives.
In fact, even as we prepared for this call yesterday, we were in other meetings talking about ways to drive expense out and rate movement doesn't add to or temper our enthusiasm there.
We know it's got to be done, so we'll continue to do that.
Thank you, <UNK>.
If there was a follow up in there, I'm sorry we missed that and we'll certainly follow back up.
Just send us an e-mail if you had a follow-up question.
I just want to thank all of the ---+ certainly the callers, the analysts, the questioners.
We thank and respect very much what you do and how you follow our Company.
Thanks for your attention this morning, to our shareholders, to our team members who call in because of their interest in our Company, not just short-term but long-term, thank you all for all being on the call.
We'll continue, as a Management team and leadership team, to execute on this plan we described and are excited about the back half of 2015 and 2016 as we continue to execute to drive improved financial performance.
Thank you all.
I hope you all have a great day.
