|
|
Among publicly traded depository financial institutions, half have increased the size of their home-equity investment portfolios over the past year.
A HELN analysis of first-quarter earnings reports by eight publicly traded bank-holding companies that are mid- to large-sized home-equity lenders indicates that four grew their home-equity asset from the first-quarter 2022, while the other four saw their portfolios deflate.
With a $12.720 home-equity portfolio as of March 31, 2023, U.S. Bank, N.A., pushed up the total from a year earlier by $2.263 billion — more than any other bank analyzed.
PNC Bank, N.A., which was the biggest home-equity line-of-credit lender last year, saw its portfolio increase $2.018 billion on a year-over-year basis, landing it in second position. PNC’s $26.203 billion in outstanding HELOCs was the biggest home-equity portfolio of all the banks.
No. 3 Citizens grew its home-equity holdings by $1.871 billion, while Fifth Third Bank was fourth with an $0.042 billion bump.
Bank of America reported $25.868 billion in outstanding home-equity assets, down by $1.068 billion from a year earlier — the biggest decline of any bank tracked.
After that was an $0.552 billion drop at Key, an $0.177 billion reduction at Huntington National Bank, and a an $0.105 billion dip at Truist Bank.
