It was not a core business for us. We have planned on a runoff, and we are redeploying the cash off that business in core loans in our core banking area.

We had to weigh it against the enormous opportunities in the NYC market area.

TheStreet: Can strong corporate earnings be enough to offset fears about U.S. fiscal policy and the rush into gold?

Millman: I would say that from our perspective, our clients are not fearful at all. They are entrepreneurial business owners. People with the courage to start businesses are optimists by nature. Our clients are quite optimistic about their future, the future of the economy and see lot of opportunities.

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-- Written by Philip van Doorn in Jupiter, Fla.

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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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