ViewPoint Adds $140 Million to Mortgage Portfolio

ViewPoint Financial Group’s loan portfolio increased by $140 million during the third quarter to $2.67 billion, fueled by the addition $89 million of mortgage loans held for sale generated through its Warehouse Purchase Program. 

The Plano, Texas-based bank holding company earned $11.3 million in 3Q12, up 120% over the same period last year.

It now has over $1 billion categorized as loans held for sale, up from $925.6 million in 2Q12.

Recently an executive at ViewPoint commented usage on the bank’s lines is in the mid-70% range. Normally it averages 50% to 55%.

President and CEO Kevin Hanigan said, "Not only did the Company post record quarterly earnings, our net interest margin is also at a record high, and our commercial and industrial, commercial real estate and warehouse lending programs showed solid growth.

During the third quarter, ViewPoint completed the sale of its residential mortgage banking subsidiary ViewPoint Bankers Mortgage Inc. to Highland Residential Mortgage LLC. Under the agreement, Highland will provide origination services for ViewPoint customers.