Question-and-Answer Session
Operator
(Operator instructions) Our first question is from Joe Morford - RBC Capital Markets.
Meg Keane - RBC Capital Markets
Hi, this is actually [Meg Keane] calling on Joe Morford’s team. We just wondering if you had a normalized run rate going forward for expenses?
Ron Migita
Dean, that’s a question for you.
Dean Hirata
On a normalized basis, we anticipate a range of between $35 to $36 million.
Meg Keane - RBC Capital Markets
Great and other than that, did you guys have MPA sales in the quarter? And if so, what sort of values were you looking at with those?
Dean Hirata
Could you repeat your question?
Meg Keane - RBC Capital Markets
Sorry. We were also wondering if you had sales of MPAs in the quarter and what sort of values you saw with those.
Curtis Chinn
Hi, this is Curtis Chinn. No, we had no loan sales in the quarter.
Meg Keane - RBC Capital Markets
And are you guying looking for that going forward? Are there prospects of that?
Curtis Chinn
We’ll look at that on a opportunistic basis, but we’re not planning any more bulk sales.
Operator
Our next question is from Bobby Bohlen - KBW.
Bobby Bohlen - KBW
On the deposits the growth looks fairly good and some of your reports from some of your local competitors also showed strong deposit growth. Is this net new accounts or are we seeing more balances, as even the consumer tries to get more liquid, maybe just some color on what we’re seeing going on with the deposits.
Ron Migita
Thank you, Bobby. I’m going to ask Blenn Fujimoto to respond to your question here.
Blenn Fujimoto
Hi, Bobby, this is Blenn Fujimoto. We actually saw a combination of new account growth as well as existing customers adding to their balances. We did launch a couple of new products during though quarter.
Our Super Savings product, which is a promotional rate, 3%, we were able to gain some good new account growth in that area. This year we have had our Free-Plus checking account, which is still a premium rate on that, but we expect this product where they have to do 15 debit card transactions during the month to receive their premium rate.
We believe this type of product will bring a new core, people who use this with our primary bank, so we have seen some good growth in that during the quarter also. So an answer to your question here, we have seen growth in both the business as well as consumer in this past quarter. And we expect that probably to continue through this first quarter also.
- To read the full transcript on Seeking Alpha, click here »
