Two bank-owned insurance brokers reported mixed first quarter results, with BB&T increasing revenues by 35 percent and Wells Fargo experiencing an 11 percent decline.
Winston-Salem, N.C.-based BB&T says Q1 insurance revenues increased by $94 million compared to the same period a year ago to $365 million, due primarily to the life insurance wholesale business produced by Crump.
BB&T acquired Crump in April, and Crump contributed $78 million to insurance income in the quarter.
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