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Weak mortgage income hurts U.S. regional lenders
July 21, 2017 2:03 PM EDTBy Sruthi Shankar and Diptendu Lahiri
(Reuters) - Weak refinancing, thanks to higher interest rates, took a bite out off regional banks' earnings in the second quarter and loan growth remained sluggish, mirroring trends seen at larger banks.
Mortgage banking income fell by double digits on a percentage basis at most regional banks that have reported results so far.
BB&T Corp (NYSE: BBT) posted a 15 percent fall in mortgage banking income, while U.S. Bancorp (NYSE: USB), the largest regional bank, said revenue from mortgage banking fell... More
