The Only Professional Organization Representing Originators

First Republic Earnings, Mortgage Assets Increase

Although quarterly home lending was significantly lower at First Republic Bank, residential asset holdings expanded and earnings were stronger.

Before the provision for income taxes, the San Francisco-based company earned $246 million, according to its first-quarter earnings report.

First Republic’s earnings improved from $214 billion in the same three months last year and $237 in the preceding three-month period.

Source: Mortgage Daily