And I think I need to do that same thing for Jeff. I will be available. Technically — I mean, literally available for the rest of the year. But after that, I do have relationships and whether it’s — I can — and I still will, despite not being on contract or in payroll, will be representing Rockland Trust in the marketplace with my community activities, the association of Chris Oddleifson and Rockland Trust is still going to be there. And lastly, Laurie, from a personal perspective, I want more time to do some other things. I’m 65 — will be 65. I figure I have another 20 years of activeness. My wife and I are planning sort of the — of ranking the activities with respect to how much physical activity is required. So maybe we’ll visit the lou (ph) when we’re in wheelchairs.
But there are other things, I’m visiting Machu Picchu or require some having some athleticism, I think maybe we’ll do early on. So I’m looking forward to that aspect, too, Laurie. But thank you very much.
Laurie Hunsicker: Thank you, Chris, and have fun in Paris, and it’s been lovely working with you. Congratulations. That’s it from me.
Chris Oddleifson: Thank you.
Operator: Our next question comes from Chris O’Connell with KBW. Please go ahead.
Chris O’Connell: Good morning and congratulations, Chris on your retirement and incredibly successful and consistent track record here over the past 20 years.
Chris Oddleifson: Well, thank you.
Chris O’Connell: So I wanted to start off on capital levels, which remain robust and increase this quarter. No share repurchases, it seems like during the quarter, but you still have an authorization outstanding here. How are you guys thinking about the utilization of the share repurchases going forward given that balance sheet growth appears to be more muted in 2023?
Mark Ruggiero: Yes. Great question, and I think we always answer this question pretty consistently and that is, the share repurchase plan is in place to be opportunistic. We’re very comfortable with our capital levels. This gives us a lever we can pull in the event, the economics and the situation on hand makes sense to. So we always think about share repurchase activity as being the right decision for value for our shareholders. We only execute at prices that we feel represent a fair price and given our historical track record and would give us a tangible book earn back period that we are comfortable with in terms of that immediate dilution of buying back. So we typically don’t talk to what that exact number is, but that is constantly in the analysis that we performed throughout the year is to gauge what is the right level that we’re comfortable with, and it’s there in place if the stock price does come under some pressure, and we think it’s appropriate to buyback at levels.
So we’re happy, it’s there. It gives us plenty of flexibility moving forward.
Chris O’Connell: Got it. I mean the share price is relatively similar to where you guys were doing repurchases in 2Q and 3Q? Have there been any repurchase activity so far in the new year?
Mark Ruggiero: We haven’t disclosed that, Chris, yet. So we’ll certainly provide quarterly updates on that.
Chris O’Connell: Okay. Got it. And switching over to loan growth, the pipelines, it seems like, although down a little bit quarter-over-quarter, it seemed to be a relatively strong or similar levels to where they were in the past quarter. And you’re talking about in the prepared comments a little bit about less CRE payoffs coming up for 2023. So putting that together, can you talk a little bit about the first quarter and how you see the cadence of loan growth progressing throughout the year?
