Michael Rose: Great. Maybe just finally for me. It doesn’t look like you guys repurchased any shares this quarter. I know the focus is organic growth, obviously, but just given that the stock is kind of trading around tangible book at this point, just any updated expectations or thoughts on usage of the buyback?
Rob Holmes: Yes. Look, the answer is the same. We have a very, very complex decision tree on which we determine distribution policy. Right now, a dollar investment business generates a much greater return then a — then buying back shares even at book value for future benefit of our shareholders. If that changes, we have plenty of capital liquidity to where we could buy back. But right now, we’re just so pleased with the plan and our progress that that’s the best use of capital.
Operator: Thank you. Our next question comes from Brett Rabatin from Hovde Group. Brett, your line is now open. Please go ahead.
Brett Rabatin: Appreciate the questions. I wanted to first talk about Investment Banking. And last quarter was obviously a good quarter for investment banking, and this quarter was even better. So I was just wanted to hear what the pipeline looks like from an investment banking perspective. And then, if you expect continued momentum in the back half of the year related to that line item?
Rob Holmes: Yes, Brett, thanks for the question. Look, we’re really excited about the platform that we built. The flywheel is just starting to take hold. The investment bank and the connectivity with the rest of the platform has been — it continues to be exceptional. The cross coordination and with clients, both in private wealth, commercial banking, corporate banking, commercial banking, our mortgage business and real estate business. It’s just — we’re further along in our maturity than I would — could have hoped for. The pipeline is broad, it’s diverse. It’s granular. It’s literally coming from all components of the investment bank, whether it’s sales and trading, M&A advisory, capital markets, capital solutions. It’s just the entirety of the platform that’s really performing. And so, we’re very encouraged and look forward to continued solid performance in the third and fourth quarter.
Brett Rabatin: Go ahead, Matt, I’m sorry.
Matt Scurlock: Brett, the only thing I’d add to Rob’s comment in his script, which I think are worth reviewing in detail, the capabilities on that platform are enabling us to solve different problems for our clients at a different point in market rate cycle. So in Q1, the 18.8 was largely driven by syndication revenue as we were helping clients’ access markets via running their credit facilities. Or with the severely inverted curve in the second quarter, a lot of that revenue shifts to more capital solutions as we help clients hedge their own rate risk and deliver advisory services. So, I think the contributors to that income to Rob’s point, on the pipeline are very much going to change from quarter-to-quarter, but it enabled us to deliver exceptional outcomes for our clients, regardless of what the need is.
Brett Rabatin: Okay. That’s really helpful. And then I want to just talk about funding for a second. And I think one of the challenges the banks base had is just declining DDA as clients move funds to interest-bearing sources. You could make a case that maybe your DDA is finally bottoming here with operational accounts. Would that be a fair assessment, do you think? Or maybe there’s some additional migration in that bucket?
