Quarterly home lending activity at First Republic Bank was up by nearly half. Also increasing was the servicing portfolio and income.
Residential loan originations during the three months ended June 30 worked out to $2.902 billion, according to second-quarter earnings data.
Business jumped from the $1.957 billion funded in the first quarter.
Activity was also up from the second-quarter 2014, when production totaled $2.764 billion.
For the first half of this year, there were $4.860 billion in total originations.
Second-quarter 2015 originations included $2.436 billion in single-family volume and $0.466 billion in home-equity lines of credit.
Refinance share was 51 percent during the latest period.
As of June 30, 2015, First Republic serviced
$10.3 billion for investors, climbing five percent from three months earlier and 42 percent more than a year earlier.
Overall loan volume at the San Francisco-based company, including non-mortgages,
was the highest ever.
On the balance sheet were $24.033 billion in residential assets. The total was up from $23.289 billion three months earlier and $22.601 billion a year earlier.
The June 30, 2015, total included $21.777 billion in single-family loans and $2.256 billion in HELOCs.
In its commercial real estate lending business, originations
climbed to $1.121 billion from $0.950 billion in the first quarter and $0.805 billion in the second-quarter 2014.
The second-quarter 2015 total included $0.453 billion in multifamily business, $0.351 billion in commercial mortgage production and $0.316 billion in construction loan volume.
Also in the bank’s investment portfolio were $10.314 billion in CRE loans, growing from $9.768 billion as of March 31 and $8.660 billion as of June 30, 2014.
The most-recent number reflected $5.057 billion in multifamily loans, $4.219 billion in commercial mortgages, $0.451 billion in single-family construction loans and $0.586 billion in multifamily construction loans.
Prior to income taxes, the bank earned $175 million, more than then $155 million earned during the first three months of this year and also up from $166 million in the same three-month period last year.
There were 68 banking offices reported.
