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Friday, January 28, 2011

Wilmington Trust posts wider Q4 loss on provisions, (NYSE: WL), (NYSE: MTB)

Wilmington Trust Corp (WL.N), which recently agreed to be bought by M&T Bank Corp (MTB.N), posted a wider quarterly loss, as provisions for loan losses jumped nearly two-thirds. The regional bank and wealth manager catering to the super-rich posted a fourth-quarter net loss applicable to common shareholders of $213.8 million, or $2.35 per share, compared with a loss of $15.7 million, or 23 cents per share, a year ago. Analysts on average had expected the company to post a loss of 35 cents a share, according to Thomson Reuters I/B/E/S.

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