Although quarterly residential lending turned lower at First Republic Bank, annual activity increased. The mortgage servicing portfolio continued to grow.
In its fourth-quarter 2017 earnings report, the San Francisco-based financial institution revealed $237 million in income before the provision for income taxes.
Earnings improved from $229 million during the final-three months of 2016. But income was shy of the $242 million earned in the preceding three-month period.
Source: Mortgage Daily