A nice quarter-over-quarter and year-over-year gain was made in home-lending activity at First Republic Bank. The servicing portfolio was trimmed, and mortgage assets grew.
During the three months ended June 30, income before the provision for income taxes worked out to $220 million. Earnings ascended from $201 million in the year-earlier period.
The San Francisco-based financial institution revealed the details, in addition to other financial and operational measures, in its second-quarter 2017 earnings report.
Source: Mortgage Daily