Many on Wall Street applauded the Federal Reserve’s benchmark interest rate cut this week to help jump-start ailing credit markets, but the enthusiasm was not universal.

With its emphasis on commercial clients and attracting dissatisfied customers from out-of-state banks, HarVest Bank of Maryland is not as dependent as others on national economic cycles, said Jack Hollerbach, president and CEO of the Rockville institution. He said his bank, which saw assets rise by 57 percent last year to $159.2 million as of December and net income increase, is no more cautious in lending practices these days than a year ago because the institution has historically exercised caution.

"Certainly, we monitor national developments," Hollerbach said. "But when you're a smaller bank trying to compete, you are always careful."

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