Given the following data for Eastern Bank Limited (EBL), how much of EBL’s net worth will change if the interest rate goes down 65bp from the current interest rate of 10%?

Assets

i) $15m worth of 5-year commercial loans 2 year

ii) $15m worth of 10-year 3% variable rate mortgage 1.5 year

iii) $60m worth of 15-year 5% fixed rate mortgage 7 year

Liabilities

i) $20m checkable deposit paying 2% 4 year

ii) $20m savings deposit paying 2.5% 7.77 year

iii) $70m time deposit paying 3% 8.92 year