The expectations are, as Carlos said, I think holding 300 is probably a good target for us, just given our availability. And as we showed, we’ve just got a lot of ability to go against the Federal Home Loan Bank to borrow there. And then obviously, if we wanted to go to other sources, we still have plenty of capacity. So, I think that’s probably the better target to use.Matt Olney Okay. And then, you mentioned a few times in the call the FIS conversion was moved back a little way. Not too terribly long but I heard you mentioned this was for just a better customer experience. Any other details you can provide as far as kind of why the timeline is being pushed out a little bit? Jerry Plush Yes, to be very specific, we obviously customized a lot of things for both our domestic and international customers.
And we want to make sure that the experience is as comparable as possible. And so rather than push to get this done, May 8th, it just made sense to allow for the additional time to get as close to where we should be and then build out any other capabilities that we need thereafter. But I just think that’s probably the best way to summarize it. Matt Olney Okay guys. Thanks for the help.Operator Our next question comes from the line of Will Jones with KBW. Your line is open. Please go ahead.Will Jones Great. Good morning, guys. Thanks for the question. I just wanted to continue to follow-up on that the margin discussion. I appreciate all the color and commentary around this next quarter, but as we think about the back half of the year, and you sort of having a conversation around peak rates.
Maybe you get a little bit easing of deposit cost pressures on the time deposit side. Do you feel like the margin could stabilize and kind of level out in front line, as we move into the third and fourth quarter of the year?Jerry Plush Yes, look. I think we are being very cautious about how we are forecasting that. We are not taking into account really a big ramp-up on international, which we definitely believe comes at more favorable cost for us. We also with the new team members, we have been adding including additions even into our treasury management area. We are going to push even more and more for core DDA as well. I mean, that’s an area we know we have to significantly improve in. And so, I just think with the capabilities that we will have post this FIS conversion in TM, coupled with the personnel we have added, there’s an upside opportunity there.We will continuously update you guys, well on as we are making progress on those.
I think at this stage, it’s the prudent thing to say, look, we have got a good line of sight as to what we expect to happen for the second quarter. I think going into the third and fourth quarters, we will certainly have a better line of sight for the second half of the year and how we can continue to improve on the funding side to keep the costs more in check.Will Jones Got you. Very helpful. I know asking you to look into your crystal ball a little bit there. But I guess since switching over one last thing that I talked about is really the buyback. I know you guys kind of prudently and understandably pause that during the quarter. And I know today you guys are really more of a growth-focused bank and buyback is really coming. But with the math looking pretty attractive here with where the shares trade, has your philosophy or thought changed anymore on with the buyback going forward?Jerry Plush Yes.
Look, I think one of the nice positions that we are in is that we have a very nice level of cash at the holding company. We are well in excess. I mean, I would expect that, we’d love to at least be at 2x to 3x any operating expenses and debt service coverage, at all times. So obviously that gives us some capacity if we elect to be very selective in reinstituting some buybacks. I think we have the capacity. But at this point, we do think it’s really prudent just to stay the course, evaluate how things go forward. And you have to be — you have to have some sense of balance on here, because obviously I do agree that the stock is incredibly attractive at this level. But at the same point in time, we want to make sure that we are — I’ll call it again, the best word to use is prudent, if we are to go and do something at this point.Will Jones Understood.
Thanks guys. And thanks Carlos again, congrats on the promotion there.Carlos Iafigliola Thank you.Operator Thank you. I would like to hand the conference back over to Jerry Plush for any further remarks.Jerry Plush Thank you, Michelle. And thank you everyone for joining our first quarter earnings call. We appreciate your interest in our company and your continued support. So, have a great day, and thanks again.Operator That concludes today’s conference call. Thank you for participating. You may now disconnect.