Strength in Regions Banks wealth management business helped offset sagging mortgage income, the banks holding company announced Tuesday.
The Birmingham, Ala.-based bank generated $50 million in investment management and trust fee income in the third quarter, up from $48 million, or 4.2%, year-over-year. Fee income from investment services generated an additional $10 million, a significant $66.7% jump from the same quarter last year. Insurance commission and fees, however, slipped 3.6% to $27 million from a year ago.
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