A bank with a mortgage investment portfolio of more than $2 billion is unloading a consumer lending subsidiary and closing branches.

As of March 31, F.N.B. Corp. had $2.131 billion in residential mortgages on its balance sheet, according to its first-quarter earnings report.

The Pittsburgh-based financial institution said that it serviced $3.418 billion in mortgages for third parties.

Source: Mortgage Daily