“We’d expect, by the end of this year, we’ll probably have achieved, on a run rate basis, roughly 60%, 65% of those expense synergies.”

In context

“nancial formula. And then, of course, making appropriate investments in the long-term profitable growth of our business. It’s certainly a -- it’s a delicate balance to manage all 3, but I think you’ve seen us do that in the past. When times are -- when we’re facing more headwinds and tailwinds, we tend to pull back on that third one, and when we got the wind at our backs, we tend to lean a little bit more into some of those longer-term investments. In terms of the -- as you think about 2024, Walt talked about this, but maybe just to reiterate it on the expense there is really no changes in our thinking around expense -- or expectations around expense synergies. Certainly the magnitude of those synergies, we continue to be very committed to and confident in our ability to deliver on those. We’d expect, by the end of this year, we’ll probably have achieved, on a run rate basis, roughly 60%, 65% of those expense synergies. And then with the integration time line that Walt talked about, we would expect to deliver the vast majority of those remaining synergies by the end of 2024. Operator: Our next question comes from Michael Cyprys with Morgan Stanley. Michael Cyprys: I was just hoping you could update us on the securities portfolio, reinvestment strategy and yields? How is that evolving? And it also looked like duration on the portfolio shortened a little bit. So I was hoping you could unpack some of the moving pieces that drove that? As rates did increase, do you feel like at this point, the book has sort of fully extended? And how do you think about any sort of risk of additional extension risk from here? Peter Crawford: So from a reinvestment rate standpoint, we are focused on cash right now and maintain”