Low mortgage rates, lava affect American Savings Bank Q1 earnings, CEO says

American Savings Bank saw its noninterest income decline in the first quarter year-over-year to $16.1 million from $16.9 million, but it did see increases to some line items. The bank saw its mortgage banking income increase to $1.8 million in the first quarter from $628,000 in the first quarter of 2014. Richard Wacker, president and CEO of American Savings Bank, said the gain came from low mortgage rates and selling the mortgage originations to Fannie Mae and Freddie Mac. “We originated a lot…