The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Anthony Perito - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: I wanted to start on the loan growth side. Chris, Joe, I appreciate all the color. I guess, kind of a simplistic question. But as we think about the
expectation for net growth to accelerate in the back half of the year, I know you guys are going to probably provide more color next week. But just
is that an expectation of originations increasing or the closing rate of the pipeline changing or payoffs moderating or maybe a mixture of all 3. Just
trying to understand what's beneath that assumption a little bit better as we saw kind of the slower growth quarter over the past 90 days.
Question: Michael Anthony Perito - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Helpful. And then just 2 other quick ones for me. One, just on noninterest income. Any thoughts near term about where that kind of core run rate
could trend? I mean, is there room for, kind of some rebound in some items like swaps and things that maybe mortgage, given where rates are in
the third quarter?
Question: Michael Anthony Perito - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: And can you just remind me just real quick the expected Durbin impact approximately once it kicks in next year?
Question: Michael Anthony Perito - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: And that's pretax annualized?
Question: Michael Anthony Perito - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: And then just lastly for me. Joe, I think you mentioned that you expect the OpEx to step up in the back half of the year. Kind of a 2-part question
there. I guess one, obviously, you added a lot of bankers. Is it a jump up in kind of the $1.5 million to $2 million range kind of adequate to capture
all that overhead and any other digital investments you're making? number one. And then -- number two, you mentioned, I think, that you expect
to step down in early 2022. So should we read into that, that a lot of the hiring that you guys budgeted or planned for has taken place and that,
that pipeline is a little less active now than maybe it was 6 months ago?
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