Home loan activity jumped ahead at Fifth Third Bancorp. Meanwhile, the size of the financial institution’s servicing portfolio shrank.
Mortgage originations from Jan. 1 to March 31 totaled $1.8 billion, according to data in the company’s first-quarter earnings report.
Business surpassed last year’s fourth- and first-quarter production, each at $1.7 billion.
The Cincinnati, Ohio-based bank serviced $64.178 billion residential loans for third parties as of the end of March. The mortgage servicing portfolio went down from $65.413 billion as of the end of the fourth quarter last year and $68.909 billion as of March 31, 2014.
As of the first-quarter 2015’s end, Fifth Third’s balance sheet had $21.972 billion in residential assets, down from $22.468 billion as of Dec. 31, 2014, and $22.400 billion as of the final day of March last year.
The most recent total included $13.258 billion in residential mortgages and $8.714 billion in home-equity loans.
Residential mortgage delinquency of at least 90 days was 0.38 percent, reduced from 0.44 percent as of Dec. 31 and March 31 in 2014.
Fifth Third’s third-party commercial real estate portfolio finished March at $0.300 billion. The portfolio grew from $0.290 billion as of Dec. 31, 2014, but fell from $0.315 billion as of the end of March that same year. The most recent amount included $0.279 billion in commercial mortgages and $0.021 billion in commercial construction loans.
The lender owned $9.513 billion in commercial real estate loans as of March 31, increasing holdings from $9.481 billion as of the end of last year and $9.179 billion as of the end of March 2014.
The most recent owned CRE loans total included $7.210 billion in commercial mortgages and $2.303 billion in commercial construction loans.
Company-wide, Fifth Third earned $515 million before taxes, a decrease from the $519 million earned in the prior quarter. In year-over-year quarterly comparisons, recent earnings increased from $438 million.
Full-time equivalent employees dropped by 120 from the fourth-quarter 2014 to 18,471. Headcount also went down from the 19,080 reported as of March 31of last year.
At the end of the first three months this year, Fifth Third reported 1,303 banking centers, increasing its operations by one from the end of last year.
