A quarter-over-quarter slump in mortgage lending at The PNC Financial Services Group Inc. was met with annual production that managed to keep up with the prior year.

Earnings before income taxes and non-controlling interest were $1.37 billion in the three months ended Dec. 31, 2016, according to fourth-quarter 2016 financial results.

Profits at Pittsburgh-based PNC improved from $1.35 billion in the third quarter. But there a modest reduction compared to $1.38 billion in the final quarter of the prior year.

Source: Mortgage Daily