|Quarterly residential production at BB&T Corp. doubled. The latest activity was an all-time record.
Residential originations at the Winston Salem, N.C.-based institution were a record $7.4 billion during the first quarter, earnings data released today indicated. Production was more than double the $3.6 billion reported for the fourth quarter.
"The increase in mortgage originations reflects continued benefits from the consumers' 'flight to quality' to BB&T," the report said.
Mortgage banking income during the latest quarter was $99 million, Branch Banking and Trust Co. said. First-quarter earnings were better than $76 million in the prior period and a 162 percent improvement over a year earlier.
First-quarter net income at all of BB&T was $318 million, according to the report. Earnings were higher than the prior quarter's $305 million but down from $429 million a year earlier.