Quarterly mortgage originations were slightly higher than three months prior at BB&T Corp., though the mortgage investment and servicing portfolios were slightly lower.
Residential loan production during the three months ended March 31 amounted to $3.602 billion. Originations ascended from the final-three months of last year, when $3.535 billion in mortgages were closed.
Lending data, as well as other operational and financial statistics, were disclosed in the Winston-Salem, North Carolina-based company’s first-quarter 2016 earnings report.
Origination activity eased, however, from the first quarter of last year, when $4.035 billion in home loans were funded.
First-quarter 2016 mortgage production consisted of $1.4 billion in retail
business and $2.2 billion in correspondent purchases.
First-quarter refinance share was 45 percent, widening from 42 percent in the fourth quarter.
As of March 31, 2016, BB&T serviced $121.503 billion in residential loans. The portfolio was trimmed from the end of last year, when $122.169 billion was serviced, but edged up from $121.079 billion as of the same date last year.
Last month’s total consisted of $90.541 billion in loans serviced for others and $30.962 billion in bank-owned loans serviced.
BB&T’s total assets included $29.998 billion in residential loans. Mortgage holdings diminished somewhat from $30.533 billion three months earlier and one year earlier.
Delinquency of at least 30 days was 2.49 percent on residential loans — sinking from 2.70 percent at the end of last year.
Residential mortgage performance has deteriorated, however, since the same date last year, when 30-day or more delinquency stood at 2.10 percent.
Also on the bank’s balance sheet were $17.144 billion in commercial real estate loans.
The CRE portfolio slipped from $17.153 billion at the end of 2015 but grew from just $13.374 billion at the same point in 2015.
Last month’s CRE holdings were made up of $13.728 billion in loans secured by income-producing properties and $3.416 billion in construction-and-development loans.
Mortgage income, prior to income taxes, fell to $63 million from $79 million and tumbled from $103 million in the first-three months of last year.
Before income taxes, company-wide income was $816 million, slightly more than $793 million the prior quarter and $788 million in the year-prior quarter.
Employee count closed out the first quarter at 35,748 people, fewer than 36,059 as of year-end 2015, but more than 32,109 as of March 31, 2015.
Branch count was down by two banking offices to 2,137.