And we don’t want to over signal, but our thought process is going to be consistent. Economic uncertainty, the worse it is, the more capital we should hold versus the opportunity to buy our stock back at basically tangible book value.
Mark Fitzgibbon : Okay. And then last question I had, Nitin for you. Your best program goals in terms of ROTCE and ROA are pretty significantly below what peers are generating today. And you guys are a fair way below those goals. I guess the question I’m wondering, do you think you need to take more extreme kind of actions to drive profitability higher in the quarters ahead, maybe like selling off additional pieces of the business to try to get profitability levels over time up to something close to a peer-like level?
Nitin Mhatre : Mark, I think I mentioned in my remarks, we completed second year of the program, entering into third year and where we were when we started to where we are. I think we are on the trajectory that kind of matches the run-rate. We’re pleased but not satisfied, as I say internally all the time. So yes, we’ll continue to manage and accelerate that journey. I think the aggressive part of the actions will most likely come from how tightly we manage our expenses going forward while continuing to part invest into our revenue generation activities that support the growth. I think that’s where — we’re not talking about any aggressive portfolio business sales at this point of time. We’re looking at more expense, revenue and efficiency initiatives as the acceleration plan.
David Rosato: I would just add one thought to that, Mark, which is those goals were set in an economic environment and an outlook of an economic environment that’s now very different from what we’re dealing with. The actions, the thought process, the goals are all the same. It’s just there’s a lot more headwinds than when they were set.
Mark Fitzgibbon : Okay. Thank you.
Nitin Mhatre : Thank you, Mark.
David Rosato: You’re welcome, Mark.
Operator: Your next question will come from Chris O’Connell at KBW. Please go ahead.
Chris O’Connell : Good morning.
Nitin Mhatre : Good morning, Chris.
Chris O’Connell : So just wanted to start off on some of the expense stuff and the items that you mentioned as far as frontline hires. And have you maybe walk us through the frontline hires that you’ve made so far perhaps in the last quarter and if you’ve been able to take advantage of the M&A disruption in your markets? And then how many frontline hires do you think there’s an opportunity to add going forward? And what type of hires you’d be looking to make?
Nitin Mhatre : Yeah, Chris, great question. I’ll go back to what we started out when we announced the BEST program. We did say our frontline folks, frontline teams outside of our branch network, we want to grow by about 40%. And that’s roughly translated to about 4% to 5% a quarter. We did hire about 7% in the second quarter in 2023. So we’re managing to that run-rate and net of attrition, I think we’re continuing to grow. We’ll probably be at the same pace. What we’re seeing increasingly, however, is the more incoming calls. And our Head of Commercial, Jim Brown, for example, who ran the commercial banking for Boston Private. He knows the — pretty much the all of the producing bankers in the Boston Private, Silicon Valley Bank, First Republic.
