Quarterly mortgage production nudged higher at Huntington Bancshares Inc. Far more impressive was the 64 percent surge in quarter-over-quarter mortgage earnings.
Home-loan originations amounted to $0.980 billion from Jan. 1 through March 31, according to first-quarter earnings data.
Business inched up from $0.922 billion during the previous three-month period.
Compared the the same quarter last year, mortgage production improved by $0.323 billion.
The third-party mortgage servicing portfolio was $15.569 billion as of the end of last month. Huntington serviced $15.637 billion as of the end of last year and $15.614 billion at the same point last year.
On Huntington’s balance sheet were
$14.287 billion in residential assets. This asset class was reduced from $14.322 billion three months earlier. But the bank has beefed up the category from $13.915 billion a year earlier.
The March 31, 2015, total included $5.795 billion in mortgages and $8.492 billion in home-equity loans.
Also in the investment portfolio were $5.067 billion in commercial real estate assets. While the balance was trimmed from $5.197 billion as of Dec. 31, 2014, it was up from $5.031 billion as of March 31, 2014.
Mortgage banking income climbed to nearly $23 million from $14 million in the prior period but dipped from just over $23 million
in the first-quarter 2014.
The
Columbus, Ohio-based company earned $220 million across the organization prior to income taxes, $1 million less than the prior period and $19 million more than the year-earlier period.
The first-quarter 2015 ended with a company-wide staff of 11,914 employees, more than the 11,875 people on the payroll as of the close of last year’s final quarter. Headcount also grew from 11,848 as of the same date in 2014.
Branch count increased by four to 733.
