BB&T 4Q net income jumps on growing fees
WINSTON-SALEM, N.C. -- BB&T Corp.'s net income rose in the fourth quarter as the bank made more loans and expanded its deposit base.
The bank said Thursday it had boosted revenue from fees on insurance and mortgage banking and collected more interest on loans. BB&T managed to keep non-interest expenses roughly flat while folding two major acquisitions, Crump Insurance and BankAtlantic, into its business, CEO Kelly King said in a statement.
BB&T's net income in the three months ended Dec. 31 soared 29 percent, to $506 million, or 71 cents per share, from $391 million, or 55 cents per share, in the same period a year earlier.
Huntington Bancshares 4Q net income up 34%
COLUMBUS, Ohio -- Huntington Bancshares Inc. said Thursday its fourth-quarter net income jumped 34 percent, helped by a jump in mortgage banking income.
The parent company of Huntington National Bank earned $159.3 million, or 19 cents per share, up from $119.2 million, or 14 cents per share, in the same quarter last year.
Net interest income, which includes interest collected on loans and interest paid to depositors, rose 5 percent to $434.1 million from $415 million.
Huntington's average total loans and leases increased 2 percent to $40.4 billion, boosted by a 16 percent jump in average commercial and industrial loans to $16.5 billion.
The company also said Thursday that its board declared a quarterly cash dividend of 4 cents. The dividend will be paid on April 1 to shareholders of record as of March 18.