These are potentially conservative numbers with what we see playing out.

Chris Walsh

You're seeing the next phase of a maturing industry take hold here.

I'm still doubtful that we're going to see any significant federal reform next year... including in banking.

There's going to be a lot of movement in 2020, whether it leads to actual legalization in some states remains to be seen.

It feels like [ legalization ] has to happen soon, but it might not happen how people think. You get a bill passed to allow banks to clearly serve this industry without a whole bunch of restrictions, and that could be pseudo-legalization, so, the actual move by the federal government to' legalize' marijuana or let states decide might not come for years ; but that reality might play out anyway with some other type of legislation.

California is going to get worse before it gets better.