Single-family lending activity was stronger than a year ago at First Republic Bank. The residential servicing and asset portfolios both continued to expand.
The San Francisco-based organization said in its third-quarter 2017 earnings report that income before the provision for income taxes was $242 million in the three months ended Sept. 30.
That was a solid improvement over the same quarterly period last year, when First Republic earned $202 million. Earnings also ascended from $220 billion in the prior quarter.
Source: Mortgage Daily