Total non-interest income in the fourth quarter of 2024 of $13.1 million was up 3.9% from $12.6 million in the third quarter of 2024, and up 10.8% from $11.8 million in the fourth quarter of 2023, both primarily due to mortgage banking income. Mortgage banking income increased $0.6 million on a linked quarter basis and $1.0 million from fourth quarter 2023, primarily as a result of fluctuations in gain on sale margins and MSR valuation adjustments. During the third quarter of 2024, the company completed an aged loans sale that reduced gains on sale by approximately $0.3 million.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFC: