Tom Travis: This is Tom, Brady. Listen, this is not — the answer is no, we’re not. This was just a — this was the management of the company dropping the ball, okay? And we see management teams in this industry operate much like banking. We see management teams operate through down cycles and up cycles and the people that stick to the fundamentals that watch their liquidity, they don’t get caught in traps. And so this is a lot less to do with the price of the commodity than it is the management and the oversight of the company. And we’ll just leave it at that.
Brady Gailey : Okay. And then my final question, you talked about having capital piling up here, your excess capital is growing. And we talked about M&A. But I mean, if you look at your stock, stock trades at 1.45% at tangible book value. But if you look at that relative to the ROE that you guys are performing at, like that’s a very compelling valuation. So do share buybacks ever make sense as a way to give capital back to shareholders.
Tom Travis: Well, I think the answer to that is that we’ve always felt like that the market hasn’t properly value the company based on quarter after quarter and year after year of exemplary performance. That’s just the fact. And so unless that dynamic changes, it’s hard to see. It’s hard to see that it’s going to change materially. But with that being said, I think it wanders into are you a short-term investor or you’re a long-term investor. And if you really like a compounder, there’s not a better stock. And so we love what we’re doing. And we really don’t feel the pressure to do any share buybacks because even with the capital piling up, what’s our ROE, 23%, right? — 26%. Well, that was for the quarter. And so I don’t know what it’s going to be for the year.
But I guess I would say to you, Brady, that yes, I understand the argument. But until we dip down into a much lower return on equity, we’re proving to the market that we can grow the company and we can carry substantial capital and yet still outperform on the returns. And so we really don’t have that, I guess, you call it immediate pressure or even near-term pressure to repurchase shares. And so that’s kind of the way we view it.
Operator: And ladies and gentlemen, at this time, I’m showing no additional questions, I’d like to turn the floor back over to Tom Travis for closing remarks.
Tom Travis : Thanks again for your interest and participation. We like where we’re at the company’s dynamic. We’ve got a wonderful team of bankers and management and we’re really blessed to be in the part of the country that we’re in. And we’ll keep doing what we’ve been doing. So thank you.
Operator: And ladies and gentlemen, with that, we’ll conclude today’s conference call and presentation. We thank you for joining. You may now disconnect your lines.
