Winston-Salem, N.C.-based bank BB&T said revenue from its insurance operations, which include wholesale broker CRC Insurance Services, increased by 17.9 percent in the second quarter over the same period last year.
BB&T said insurance commissions rose $32.5 million, from $181.6 million for the second quarter of 2005 to $214.1 billion.
The company said the increase was based upon growth in commissions from the sale of property-casualty coverage and improved sales of employee benefits-related insurance products.
The bank reported net income for the quarter increased 11 percent, or $42.3 million, going from $386.8 million, or 70 cents a share, to $429.1 million, or 79 cents a share.
For the six months, net income rose 10 percent, or $78.4 million, from $782.2 million, or $1.42 a share in 2005, to $860.6 million, or $1.59 a share.
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