Quarterly originations dropped at Branch Banking and Trust Co., though annual activity surged. Delinquency deteriorated and earnings were mixed.
BB&T Corp. reported $5.3 billion in fourth-quarter 2009 residential production, down from $6.9 billion during the prior period. Still, business was better than $3.6 billion a year earlier.
Full-year 2009 production shot up to $28. 2 billion from $16.4 billion the prior year.
The residential servicing portfolio finished last month at $73.6 billion, higher than $71.0 billion three months earlier and $59.7 billion a year earlier. The Dec. 31, 2009, figure reflected $54.6 billion in loans serviced for others, more than $52.2 billion at the end of September.
Mortgage loan holdings were $15.4 billion at the end of last year, edging down from $15.5 billion three months earlier. Mortgage assets stood at $17.1 billion on Dec. 31, 2008.
All but 1 percent of loans outstanding as of Dec. 31, 2009, were first mortgages. The average credit score was 704 and an the average loan-to-value was 75 percent at origination.
Including covered loans and foreclosed properties, delinquency of at least 30 days closed out last year at 3.57 percent. Delinquency was 3.29 percent at the end of September and 2.51 percent at the end of 2008.
Commercial real estate loans outstanding were $12.5 billion on Dec. 31.
Income before taxes climbed to $207 million from the third quarter’s $148 million but fell from $332 million a year earlier. Full-year earnings were $1.0 billion.
BB&T reported 32,394 full-time employees as of the end of the fourth quarter, fewer than 32,821 at the end of the third quarter.
