Mortgage production was down a third at BB&T Corp., while mortgage banking income fell 13 percent.
The Winston-Salem, N.C.-based institution originated $3.9 billion during the second quarter based on earnings data released Thursday. Production dropped from the first quarter’s $5.8 billion and from $5.0 billion in the second-quarter 2010.
The bank serviced $86.8 billion as of the end of last month, a little more than $86.2 billion at the end of March. A year prior, the servicing portfolio stood at $77.9 billion. The June 30 total included a third-party portfolio of $65.9 billion.
On the balance sheet were $18.4 billion in residential loans, increasing from $18.2 billion on March 31. The total on June 30, 2010, was $15.5 billion.
There were $11.1 billion in commercial real estate loans owned as of June 30, slipping from $11.2 billion three months earlier and down from $12.2 billion a year earlier. In addition, CRE residential acquisition-development-and-construction holdings were $2.7 billion, lower than the prior quarter’s $3.1 billion and tumbling from $4.7 billion in the same quarter last year.
Mortgage banking income fell to $83 million from $95 million and was $110 million a year previous.
BB&T Corp. earned $418 million before taxes, an improvement from the first quarter’s $287 million and $249 million in the second-quarter 2010.
The staff size was 31,617, more than the 31,365 people employed as of March 31.
BB&T operated 1,778 banking offices as of the end of the second quarter.
