Republic Bancorp Inc., Louisville, Ky., said that in 19 months of operations, its warehouse lending business has lines of credit outstanding of $217 million from total credit commitments of $331 million.
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The company added $365 million in loans to its balance sheet, with mortgage warehousing responsible for $176 million.
Mortgage banking income increased by $4.5 million to $8.4 million for 2012 ($2.9 million in 4Q12), as application volume increased to $782 million for the full year from $585 million during 2011.
For 2013, Republic hopes to continue to capitalize on a favorable interest rate environment for long-term fixed-rate loans through a new $0 closing cost promotion.
