WINSTON-SALEM, NORTH CAROLINA - BB&T Corporation said Thursday its first-quarter profits soared by nearly a third over the same period last year, fueled largely by gains in insurance commissions, mortgage income and investment and brokerage fees.
The Winston-Salem, North Carolina-based bank said its first-quarter profits were $309.6 million , up nearly 31 percent over $236.5 million in earnings in the first quarter of 2001.
With the tenth-largest insurance agency network in the nation, BB&T earned commissions of $63.9 million in the first quarter from that line of business, up 52 percent over the same period last year.
BB&T also reported record mortgage loan originations in 2001 and continued that trend during the first quarter of this year with $2.8 billion in loan originations.
BB&T has $74.9 billion in assets and operated 1,132 banking offices in North Carolina, South Carolina, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Alabama, Indiana and Washington, D.C.
Monday
July 7th, 2025
11:21AM
