Help Understanding Fair Comp for a role

I am actively interviewing in Minneapolis with a regional bank for an Underwriter role. I have 6 years of experience, 3 as a PM and 3 as an Underwriter. At my current firm I am a level III. The new job insists I am a level II and almost a level III. They quoted me $115 base as a level III makes what I currently make and suggested I’d be on a promotion track coming in. Are they trying to get me cheaply and am I presently overpaid as I make more? I feel like my base should be around $140 minimum right now. I really do not know as ive only been in this industry in bad times. So is it the market? I need a new role as my current team is a mess and I’m being burnt out. It’s so bad I’m almost considering this lower pay if all shops are trying to get people cheaper. Staff at my current shop are all slowly leaving and I’m definitely on a sinking ship. I now have responsibilities that used to be other departments because those people left and we won’t be replacing them. However, I know things are interesting with hiring right now and if this quote is fair for the current market, I feel a tad dumb but maybe I suck it up for one year and keep an eye out for something better. I need a break from my current situation.