Rhett Jordan: Yes, I mean again as far as payoffs in that what I would consider larger size payoffs. We had total of about probably $27 or so million in the first quarter as Billy commented to in their statement I mean all of that really was rotated to transactions where clients were just — were selling assets in the marketplace quite a bit of it were what might have been single tenant transactions that were construction that were whether were resold in the secondary market or were actually sold the first time in the secondary market and then the other piece of it we’ve had a couple of instances of clients selling either companies or pieces of companies, and so they paid some debt down associated with those components of their overall business model.
So we continue to fight that a little bit here and there. I would anticipate we’ll continue to see some pressure here and there as the year goes in that space, just because with where cap rates are in our footprint compared to interest rates, I think we do have quite a few investors that are looking at the opportunity to still get a pretty good return on their asset and perhaps just sit on the sidelines a little bit longer waiting to start that next project to see if rates do happen to move down for them a little bit. So that’ll be an area that we will continue to watch and fight against a little bit, but that’s kind of been the nature of what we’ve seen thus far in the year.
Steve Moss: Okay. Appreciate that. And so, in terms of just overall numbers, I mean, it sounds like still remains healthy. Just kind of curious, does the construction bucket, it sounds like that will continue to go down here going forward from that several quarters.
Billy Carroll: Yes, I think it is overall, production pipelines are healthy and over right now we’re on calls with their regional president yesterday and, and kind of get in the field for outlook and we still feel good about the outlook. But yes, I mean, Rhett, you can kind of speak to just any additional color that you think on that.
Rhett Jordan: Yes, I don’t know, Steve, if I heard you, right. I think you may have said the tension grew construction buckets to go down. I don’t know that I would expect it necessarily to go down. I think it’ll hold steady as a year ago. Again, we are seeing good production opportunities, especially in the initial stage in our footprint. Unfortunately, trying to predict the timing of when a house sale, that sort of thing at times can be a little more difficult than we are still in a very robust market in every footprint we’re in. We’re seeing continual demand for housing in our footprint. Our builders were able to turn product relatively quickly. But we are also seeing good starts. So I think, we’ll see that space hold relatively steady as a year ago.
Steve Moss: So you’re bullish on construction. I mean it just feel like the rest of the portfolio might grow at a faster pace.
Rhett Jordan: That’s true.
Steve Moss: Okay. Appreciate that. And then last question for me in terms of just housekeeping. I missed the total number, the total expense number that you gave, Ron.
Ron Gorczynski : Oh yes. Total expense, a $29.7 range, $29.7 million range with salaries $17.3 million.
Operator: We have a follow-up question from Thomas Wendler with Stephens.
Thomas Wendler: Hey guys, just wanted to hop in here with one more question. Previously, you guys have talked about looking both upstream and downstream for M&A opportunities, and in the slides here, I noticed that the focus is kind of on needle-moving opportunities right now. Can you just kind of outline what it would take for you to want to purchase a bank and asset size and geography, things like that
Billy Carroll: Yes, and it’s a good question, Thomas. Yes, it’s in there. I think we’re always looking at strategic opportunities that helps us grow and not just bigger. Yes, and our focus now is really getting better from anything from a downstream standpoint. It’s kind of tough given valuations today. That’s the reason we’ve talked about share buybacks, things along those lines. I think that would be first and foremost, so really not looking at anything. But, to me, always evaluating any type of strong strategic opportunity is something that we’re always open to do, Ron, I don’t know, any comments on that?
Ron Gorczynski : The only thing I would add there is our currency is just not in a place where it’s going to make it possible to do anything short term that makes sense for us, and we look and talk internally every day about opportunities. So, really nothing to report.
Operator: We have another follow-up from Feddie Strickland with Janney Montgomery.
Feddie Strickland: Hey, just one more question on capital. Just curious, is there a certain level that you kind of want to maintain in terms of TC, Common Equity Tier 1 total risk based? I mean, whichever metric you want to pick, just wonder if there’s a certain threshold that you kind of want to keep as you go forward and think about repurchases or any other method of capital deployment.
Billy Carroll: Ron, you want to –
Ron Gorczynski : I think we’re at a good level right now. We intend to use some of our earnings power to start doing some of the repurchases and stuff like that but we are very comfortable with our level, yes, we could dip down 10-50 base points per capital ratio but I think we’re in a good spot again just using more of our excess earnings to do some more capital related activities.
Feddie Strickland: Got you. And then just one additional one, I was just curious some of the M&A disruption in your backyard, are you seeing any incremental opportunities in terms of talent or new business or you sort of already picked a little hanging fruit there?
