We’re an organization that has people available to our clients. They’re on camera. They have a personal relationship with these people. It’s virtual, but that’s the world we’re in now. The world going forward is still our customers want to have somebody to talk to versus just typing data into a piece of software into an endless weight. So we’ll be able to do that, and we feel pretty good about the business model. And really giving — I mean we give a lot of information out. We’ve been complemented on that. We’re going to continue to do that. So I appreciate the question, and that is really one of the values that we believe we’re going to be able to derive. But I will tell you, it’s a heck of a lot easier for me to get on this call and talk about it than to actually execute on it.
So we have a lot of work to do, and we’ll get there. We have a history of being able to deliver those types of results and do it. It just — it takes time.
Operator: And our next question comes from the line of Scott Sullivan with Raymond James. Your line is now open.
Scott Sullivan: Thank you. Hey, Barry, congratulations to you and your team. You guys definitely had the vision on the SMB opportunities at the time back then and building, I think, the best mousetrap at the time using the BDC structure. I kind of like an analogy here that you’re graduating now top of your class from a sort of intensive master’s PhD program and, again, kind of skating to where the puck is going, which I think might be the best structure of financial bank holding. So with that preamble, I’ve got a couple of questions. Really, how relevant is this Q4 report to the future?
Barry Sloane: Well, I think — Scott, I appreciate it. I think that it’s a mark in time, and it’s really the handoff into the financial holding company. So we obviously — we paid out, I think, a $17 million dividend on December 31. We paid the owner of the bank $20 million, pushed $51 million of capital into the organization. And that — really, we have to get that done because that’s what we put in our application. That’s we have to deliver on. So I think that people looking at — first of all, I don’t know how people are coming up would be met or beat. I don’t know where I got these earnings numbers from, but they didn’t even for me. So with that said, as you sit here and look at the company today from an investment perspective, we have put out into the market that we have, a well-capitalized bank.
We have a very well-positioned financial holding company. We’re now regulated by two great regulators, the Federal Reserve and the OCC. Our status is positionally have a good pipeline. We raised capital in the markets in January, a pretty tough time to raise capital, both preferred from an institutional investor and bonds with our BBB+ rating. So we’re in a good spot. Now we’ve got obviously a transition going on. We’re moving people into the bank. We’re changing payroll. Shareholders are transitioning despite the fact that we’ve talked for 12 to 18 months about a 4% yield without putting a dividend number on it because that would be imprudent. I mean today, we’re able to cross over the concept of being imprudent by having the Board actually declare the number and declare the number based upon the earnings because it would be imprudent to really talk about.
