Bryce Rowe: Okay. That’s helpful. Maybe question around quarterly marks. You obviously highlighted the more kind of broader credit market driven marks on the I-45 portfolio. In terms of the $1.2 million of unrealized depreciation on the equity book, can you kind of talk or walk through kind of some of the puts and takes within that? And I would assume you’re seeing some with appreciation versus some with some depreciation?
Bowen Diehl: Yeah. I mean, if I look down to equity marks, we had one — two companies that were downgraded that were the majority of the decrease. And so, really a lot of — taking those out, I mean, looking down, there’s several very large winners, and then a bunch of like kind of slight positives and a bunch of flats and a few kind of downs. And so, I think the equity portfolio, we had those two kind of underperformed other than have portfolio was kind of net up. So — did that answer your question?
Bryce Rowe: That’s helpful. Appreciate that Bowen. And then maybe last one for me. From a pacing perspective, just kind of curious kind of how the pipeline is shaping up, it looks like — it sounds like repayment activity is going to continue to be muted. So, just thoughts on how to think about pacing within our models, would be great. Thanks.
Bowen Diehl: Go ahead.
Michael Sarner: We did a pretty robust pipeline this quarter, probably not to the same extent as last quarter for sure. But numerically, we would expect to be somewhere in the $90 million to $110 million of new originations this quarter. And we are only seeing — we’re saying like the pace of repayments have certainly slowed, I think our expectation is about $15 million this quarter and maybe going forward. So, it’s essentially maybe one credit a quarter that it might come back. So, net portfolio growth is going to be somewhere in the — I think, $75 million to $100 million for the next few quarters.
Bryce Rowe: Okay.
Bowen Diehl: I think that’s right. And we have definitely that kind of repayment activity. We do have some visibility on some sales processes that are going on that based on the company’s health, you would expect the companies to invest. So, we’ll see some repayment activity, but it won’t be a refinancing, everybody will be someone acquiring that company and resulting in us getting refinanced out. So, our refinancing won’t be zero, but they definitely like Michael, so it to be lower. And I agree with that general comment on the pipeline.
Bryce Rowe: That’s great. Appreciate the color guys.
Bowen Diehl: Yeah. Take care, Bryce.
Bryce Rowe: Yeah.
Operator: Thank you. And one moment for our next question. And our next question comes from the line of Erik Zwick with Hovde Group. Your line is open. Please go ahead.
Erik Zwick: Thank you. Good morning. First question, within the prepared comments, you mentioned that underwriting certain industries is more challenging today. And I’m curious how you approach that. Does that mean there are certain industries that you are not willing to underwrite in today? Or does it just mean you need to adapt and maybe change your underwriting standards and structures for those particular industries? And maybe if you could what those industries are as well?
