5 QUESTIONS WITH William R. Gonzalez Senior Vice President, Quaint Oak Bank, Allentown

1 How is the local economy?

Very good. Based on statistics of the Federal Reserve Bank of Philadelphia, the recession recovery of the Lehigh Valley has generally tracked ahead of Pennsylvania as a whole.

The gentrification of downtown Allentown is a prime example of local economy recovery. The SteelStacks of Bethlehem along with the obvious expansion of our local industrial parks are other elements that have brought employment and industry to the Lehigh Valley.

2 Are potential homebuyers confident? Why or why not?

They are confident. As a result, once the recovery gained traction, our mortgage company has set annual growth records each year. …

The statistics of the [Greater] Lehigh Valley … Realtors broadly support our experience.

These seem to be the combined result of continually improving employment rates and historically low interest rates.

3 Are businesspeople confident? Why or why not?

Yes, but moderately. Most businesses that we deal with are experiencing growth, but since the recession they do not take continued growth for granted.

We observe most companies practicing cautious expansion and moderate borrowing. However, having said that, volume in sales seems to be improving year over year.