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so what about the banks joining us now the acting commissioner of banking and insurance kenco Bilal ski Commission a good of you to join us are the other banks of New Jersey making enough loans are they making them frequently enough are they making them readily available to qualified borrowers yes Mike without question the new jersey state chartered institutions are doing a very very good job of getting loans out to qualified borrowers throughout the state are they doing this easily voluntarily did the state have to pressure them to the state have to put some leverage on them to change patterns that's that many in the industry say simply we're destructive in terms of the homing the housing market not at all Mike the New Jersey State Department of banking insurance did not have to pressure the lenders in any way shape or form in order for them to to make and continue to make loans available to borrowers in a state of New Jersey how would you characterize the shape and the health of the banking industry in the state right now it's very very good the new jersey state charter the banks did an excellent job weathering the recession and the down the financial downturn that we just experienced by and large they're well capitalized and well-managed institutions are they is that uniform are we talking about national banks the regional banks the local banks as one or any distinctions or differences that exist amongst them well my regulatory authority extends to New Jersey state chartered banks only I do not have any regulatory authority over national banks so my comments would be confined to New Jersey state chartered institutions understood but you obviously also are aware of what the others may be doing do you have any reason to believe that they're doing as well as the ones that you do / say yes I think but by and large the financial institutions are well capitalized and well-managed how was New Jersey different or similar to others is new jersey's banking industry unique in any way you need new jersey is a very heavily bank state as you can imagine our income is high in the state i think we're second only to connecticut in terms of average income per capita so we are a very very attractive market for banks throughout the country to come here to bank so the new jersey is a little bit different in that many institutions want to come here to the state and want to to bank here in the state of new jersey what's the biggest surprise you've had since taking this position i think it's just the the breadth of what comes across my desk every single day while I'm Commissioner I don't think that there were any surprises I was at the department for two years prior to the governor asking me to serve as commissioner so there haven't been any surprises in that sense just in the sense of how many different things come across my desk on any particular day if you could change anything what would it be I think if I could change something I would love to see lower insurance costs and lower insurance premiums throughout the state for our residents would be the number one issue that I would like to say a chance that we're going to get them I think our insurance companies by and large are again well managed and well-run unfortunately in this state fortunately or unfortunately we have a lot of cars in a state where densely populated state so we tend to have more accidents than in other states our auto insurance rates tend to be a little bit higher our health care costs tend to be a little bit higher so that's a very very difficult market place for our residents to be in Commissioner have to leave it there thank you for coming on sir thank you very much Mike you