Wilmington Trust Announces 2007 Fourth Quarter and Full Year Results

Wilmington Trust Corporation (NYSE:WL) reported today that net income for the 2007 fourth quarter was $44.0 million and earnings per share (on a diluted basis) were $0.65 per share. In comparison, for the 2006 fourth quarter, net income was $47.5 million and earnings per share (diluted) were $0.68. These results brought net income for the 2007 full year to $182.0 million and earnings per share (diluted) to $2.64 per share. In 2006, net income for the full year was $143.8 million and earnings per share (diluted) were $2.06 per share. The 2006 amounts reflected a non-cash impairment write-down of $72.3 million recorded in the 2006 third quarter against the valuation of affiliate money manager Roxbury Capital Management. Absent this non-cash write-down, full-year net income 2006 would have been $185.5 million and earnings per share (diluted) would have been $2.66 per share. This release contains and discusses amounts that exclude the effects of the non-cash write-down and presents results on an operating basis. Management believes that operating results (those that exclude the effects of the non-cash write-down) provide a more relevant and comparative basis on which to evaluate the company’s performance. The financial statements in this release contain comparisons of results with and without the non-cash impairment write-down. Significant factors in fourth quarter 2007 results The Corporate Client Services (CCS) business prevailed against the near-absence of capital markets activity and produced revenue that was 12% ahead of the year-ago fourth quarter, and 11% ahead of the 2007 third quarter. For the full year, CCS revenue rose 15%. The strength of business development, plus the June 2007 acquisition of an investment consulting firm in Boston, helped the Wealth Advisory Services (WAS) business overcome volatility in the financial markets. WAS revenue was up 15% from the year-ago fourth quarter, and up 5% from the 2007 third quarter, significantly surpassing the changes in the three major equity market indices. For the full year, WAS revenue rose 15%. In the mid-Atlantic region, the economy remains well diversified and stable. Although economic activity has slowed from the 2005 and 2006 pace, loan balances continued to rise. On average, loan balances were 6% higher than for the year-ago fourth quarter, and 1% higher than for the 2007 third quarter. For the full year, loan balances rose 7%, on average. These achievements were offset by: An addition to expenses of approximately $3.2 million for Wilmington Trust's share of Visa, Inc.’s litigation with other companies. A decline in the net interest margin of 17 basis points from the third quarter, to 3.56%. This decrease was due to the Federal Reserve’s short-term interest rate reductions and the differences between when the company’s loans reprice and when its deposits reprice. If there are additional reductions in short-term rates, depending on the magnitude and pace at which they occur, the margin will compress with each downward move until deposit repricing catches up to loan repricing. Levels of nonperforming assets and net charge-offs that were more in line with historical levels, which increased the provision and reserve for loan losses. "The Corporate Client and Wealth Advisory Services businesses showed impressive growth, especially considering the dearth of activity in capital markets and the volatility in the equity markets in the fourth quarter,” said Ted T. Cecala, Wilmington Trust’s chairman and chief executive officer. "Our performance shows how our diversified business mix helps us generate consistent results, even when one sector slows down, such as what our Regional Banking business is experiencing as market interest rates decline and the current economic cycle affects the pace of loan growth.” Loan portfolio -- Commercial loan balances, on average, were 7% higher than for the year-ago fourth quarter and 2% higher than for the 2007 third quarter.   -- The commercial and industrial loan growth came mainly from clients in Pennsylvania, Delaware, and New Jersey with retail, wholesale, service, and contracting businesses. Most of these loans were for working capital.   -- Construction loans constituted 21%, or $1.78 billion, of the $8.48 billion in total loans at December 31, 2007. Key characteristics of the construction loan portfolio were as follows:   -- In terms of project type, approximately 52% of construction loans were for residential real estate construction, approximately 21% were for land development, and approximately 14% were for retail and office projects. The remainder were for owner-occupied, multi-family, and other types of projects.   -- In terms of location, approximately 61% were for projects in Delaware, approximately 25% were in Pennsylvania, approximately 7% were in Maryland, approximately 4% were in New Jersey, and the rest were elsewhere.   -- Consumer loan balances, on average, were 4% higher than for the year-ago fourth quarter and 2% higher than for the 2007 third quarter. Almost all of this growth was in indirect loans made mainly through automobile dealers for late-model used cars. Credit quality in the 2007 fourth quarter In the internal risk rating analysis, the percentage of loans with pass ratings was 96%, the same as for the 2007 third quarter, and slightly less than the 97% for the year-ago fourth quarter. The disposition of approximately $10.3 million in loans to the Elliott Building Group caused the biggest changes in credit quality. These loans were for two housing developments under construction in southern New Jersey. In June 2007, Elliott filed for bankruptcy, and the $10.3 million was transferred to nonaccruing status. In the 2007 fourth quarter, approximately $8.9 million of this amount was transferred to other real estate owned (OREO), and the remainder was charged off. The transfer of these properties to OREO added approximately $529,000 of expense. Net charge-offs for the fourth quarter totaled $9.7 million, or 12 basis points. The Elliott loans and other loans previously reported as nonperforming accounted for most of the increase from prior periods. Consumer and other retail loans continued to account for more than half of total net charge-offs. Most of the charged-off consumer loans were indirect auto loans. For the 2007 full year, net charge-offs were $21.3 million, or 26 basis points. In comparison, net charge-offs for 2006 were $18.5 million, or 24 basis points. Since 1996, the annual net charge-off ratio has ranged from a low of 14 basis points for 2005 to a high of 44 basis points for 2000. Nonaccruing loans for the fourth quarter included approximately $8.4 million for a hotel and retail project in Ocean City, Maryland. This loan was transferred from performing status to loans past due 90 days or more, and included in serious doubt loans, in the 2007 third quarter. Its transfer to nonaccruing status accounted for the fourth quarter decrease in commercial, financial, and agricultural loans past due 90 days or more. Renegotiated loans increased because one commercial loan of approximately $4.5 million was upgraded from nonaccruing status. The amount of renegotiated loans also included approximately $19.0 million in loans that were renegotiated in and reported for the third quarter of 2007. These loans are to a Pennsylvania-based developer for a large single family and townhome development in Sussex County, Delaware. Construction loans accounted for approximately 21% of total loans, which has been the case since the fourth quarter of 2005. For the 2007 fourth quarter, construction loans accounted for approximately 21% of total nonaccruing loans and approximately 5% of total loans past due 90 days or more. On a percentage basis, the composition of the loan portfolio remained well diversified and relatively unchanged. Additional disclosure about credit quality is contained in the financial statement section of this release. Exposure to subprime residential mortgage loans As of December 31, 2007: There were no subprime loans in the residential mortgage portfolio. All of the mortgage-backed securities in the investment securities portfolio were issued by U.S. government-sponsored enterprises (GSEs). These GSEs are AAA-rated and they guarantee the timing and amount of principal and interest payments on the instruments they issue. Revenue from trust services for investors in structures that hold residential mortgages as the underlying collateral accounted for less than 1% of both fourth quarter and full-year revenue (approximately $1.4 million for the 2007 fourth quarter and approximately $5.5 million for the full year). The structures associated with these revenue amounts hold a combination of prime and subprime U.S. residential mortgages. None of the collateralized debt obligations for which CCS provides trust and administrative services held residential mortgage or subprime loan collateral directly. Other items Investment securities balances were lower than the year-ago levels because there was less need to invest in short-term securities in order to collateralize client accounts that use short-term cash sweeps. On a percentage basis, the composition of the investment securities portfolio was relatively unchanged from prior periods. More information about the investment securities portfolio is in the supplemental financial statement in this release. In addition to the $3.2 million recorded for the Visa litigation, expense growth reflected higher staffing, occupancy, and related costs associated with the June 2007 acquisitions of a wealth management firm in Boston and a corporate services provider in Luxembourg. The increase from the 2007 third quarter was due in part to seasonal advertising, consulting, and travel and entertainment expenses. In the 2008 first quarter, salaries and wages expense should increase by approximately $5.0 million, as payroll taxes and 401(k) plan matching expenses reset at January 1. More information about asset/liability matching and funding sources is in the supplemental financial statement in this release. Cash dividend declared At its meeting yesterday, the Board of Directors declared a regular quarterly cash dividend of $0.335 per share. This amount reflects the 6% increase the Board approved in April 2007, which marked the 26th consecutive year the company has raised its cash dividend. The quarterly dividend will be paid on February 15, 2008, to stockholders of record on February 1, 2008. Share repurchases The company’s current share repurchase plan, which commenced in April 2002, allows the company to reacquire up to 8 million of its shares. During the 2007 fourth quarter, the company repurchased 600,000 shares under this program, at a total cost of $21.4 million and an average price per share of $35.74. The company repurchased a total of 2,000,000 shares in 2007, at a total cost of $79.2 million and an average price per share of $39.60. This brought the total number of shares repurchased under the current program to 3,043,796, leaving 4,956,204 available for repurchase. Conference call Management will discuss 2007 fourth quarter results and full-year results and outlook for the future in a conference call today at 10:00 a.m. (EST). Supporting materials, financial statements, and audio streaming will be available at www.wilmingtontrust.com. Dial-in information: From inside the United States: (888) 459-5609 From outside the United States: (973) 321-1024 Conference identification number: 27652936 A rebroadcast of the call will be available from 12:00 p.m. (Eastern) today until 12:00 a.m. (Eastern) on Friday, January 25, by calling (800) 642-1687 inside the United States or (706) 645-9291 outside the United States. Use conference identification number 27652936 to access the rebroadcast. Forward-looking statements This presentation contains forward-looking statements that reflect our current expectations about our future performance. These statements rely on a number of assumptions and estimates and are subject to various risks and uncertainties that could cause our actual results to differ from our expectations. Factors that could affect our future financial results include, among other things, changes in national or regional economic conditions; changes in market interest rates; significant changes in banking laws or regulations; increased competition in our businesses; higher-than-expected credit losses; the effects of acquisitions; the effects of integrating acquired entities; a substantial and permanent loss of either client accounts and/or assets under management at Wilmington Trust and/or our affiliate money managers, Cramer Rosenthal McGlynn and Roxbury Capital Management; unanticipated changes in regulatory, judicial, or legislative tax treatment of business transactions; and economic uncertainty created by unrest in other parts of the world. About Wilmington Trust Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides Regional Banking services throughout the Delaware Valley region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 86 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, and Luxembourg. For more information, visit www.wilmingtontrust.com. WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007   HIGHLIGHTS             Three Months Ended Twelve Months Ended   Dec. 31, Dec. 31, % Dec. 31, Dec. 31, %     2007   2006   Change   2007   2006   Change OPERATING RESULTS (in millions) Net interest income $ 91.1 $ 92.4 (1.4 ) $ 368.9 $ 363.1 1.6 Provision for loan losses (9.2 ) (6.5 ) 41.5 (28.2 ) (21.3 ) 32.4 Noninterest income 102.7 92.5 11.0 386.0 346.1 11.5 Noninterest expense 116.9 104.9 11.4 444.1 471.6 (5.8 ) Net income 44.0 47.5 (7.4 ) 182.0 143.8 26.6   PER SHARE DATA Basic net income $ 0.66 $ 0.69 (4.3 ) $ 2.68 $ 2.10 27.6 Diluted net income 0.65 0.68 (4.4 ) 2.64 2.06 28.2 Dividends paid 0.335 0.315 6.3 1.32 1.245 6.0 Book value at period end 16.55 15.47 7.0 16.55 15.47 7.0 Closing price at period end 35.20 42.17 (16.5 ) 35.20 42.17 (16.5 ) Market range: High 42.00 45.33 (7.3 ) 44.55 45.61 (2.3 ) Low 32.57 40.54 (19.7 ) 32.57 38.54 (15.5 )   AVERAGE SHARES OUTSTANDING (in thousands) Basic 67,174 68,455 (1.9 ) 67,946 68,413 (0.7 ) Diluted 67,749 69,615 (2.7 ) 68,851 69,675 (1.2 )   AVERAGE BALANCE SHEET (in millions) Investment portfolio $ 1,846.8 $ 2,017.6 (8.5 ) $ 1,875.9 $ 1,893.1 (0.9 ) Loans 8,355.7 7,912.9 5.6 8,212.0 7,699.8 6.7 Earning assets 10,234.4 10,075.3 1.6 10,126.3 9,645.7 5.0 Core deposits 5,094.5 5,008.1 1.7 5,045.5 4,936.7 2.2 Stockholders' equity 1,093.7 1,067.4 2.5 1,091.0 1,059.1 3.0     STATISTICS AND RATIOS (net income annualized) Return on average stockholders' equity 15.96 % 17.66 % (9.6 ) 16.68 % 13.58 % 22.8 Return on average assets 1.57 % 1.73 % (9.2 ) 1.65 % 1.37 % 20.4 Net interest margin (taxable equivalent) 3.56 % 3.65 % (2.5 ) 3.67 % 3.79 % (3.2 ) Dividend payout ratio 51.36 % 45.26 % 13.5 49.40 % 59.18 % (16.5 ) Full-time equivalent headcount 2,672 2,574 3.8 2,672 2,574 3.8 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007   QUARTERLY INCOME STATEMENT     Three Months Ended           % Change From: Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, Prior   Prior (In millions)   2007     2007     2007     2007     2006     Quarter   Year NET INTEREST INCOME Interest income $ 177.9 $ 183.4 $ 180.8 $ 180.0 $ 182.0 (3.0 ) (2.3 ) Interest expense     86.8       89.3       88.0       89.2       89.6   (2.8 ) (3.1 ) Net interest income 91.1 94.1 92.8 90.8 92.4 (3.2 ) (1.4 ) Provision for loan losses (9.2 ) (8.9 ) (6.5 ) (3.6 ) (6.5 ) 3.4 41.5 Net interest income after provision for loan losses 81.9       85.2       86.3       87.2       85.9   (3.9 ) (4.7 ) NONINTEREST INCOME Advisory fees: Wealth Advisory Services Trust and investment advisory fees 42.9 40.5 38.4 36.9 36.1 5.9 18.8 Mutual fund fees 5.9 5.3 5.1 5.1 5.1 11.3 15.7 Planning and other services     10.3       10.3       9.9       9.5       10.1   ---- 2.0 Total Wealth Advisory Services 59.1       56.1       53.4       51.5       51.3   5.3 15.2 Corporate Client Services Capital markets services 11.4 10.2 11.2 10.2 10.4 11.8 9.6 Entity management services 8.1 7.4 7.4 7.1 7.1 9.5 14.1 Retirement services 3.3 3.0 3.2 3.4 2.9 10.0 13.8 Investment/cash management services     3.4       3.0       3.0       3.3       3.0   13.3 13.3 Total Corporate Client Services 26.2       23.6       24.8       24.0       23.4   11.0 12.0 Cramer Rosenthal McGlynn 5.5 4.2 6.3 4.7 5.3 31.0 3.8 Roxbury Capital Management     0.4       0.4       0.2       0.1       0.1   ---- 300.0 Advisory fees 91.2 84.3 84.7 80.3 80.1 8.2 13.9 Amortization of affiliate intangibles     (1.3 )     (1.2 )     (1.1 )     (1.1 )     (1.1 ) 8.3 18.2 Advisory fees after amortization of affiliate intangibles 89.9       83.1       83.6       79.2       79.0   8.2 13.8 Service charges on deposit accounts 7.3 7.2 7.0 6.8 7.1 1.4 2.8 Other noninterest income 5.3 4.7 6.2 5.4 6.2 12.8 (14.5 ) Securities gains/(losses)     0.2       (0.2 )     0.1       ----       0.2   ---- ---- Total noninterest income 102.7       94.8       96.9       91.4       92.5   8.3 11.0 Net interest and noninterest income 184.6 180.0 183.2 178.6 178.4 2.6 3.5 NONINTEREST EXPENSE Salaries and wages 45.0 44.1 41.9 41.8 40.3 2.0 11.7 Incentives and bonuses 11.5 10.0 11.4 14.0 10.3 15.0 11.7 Employment benefits 12.0 12.7 11.5 14.6 11.4 (5.5 ) 5.3 Net occupancy 7.4 7.3 6.8 6.8 6.7 1.4 10.4 Furniture, equipment, and supplies 9.7 10.0 9.8 9.7 10.3 (3.0 ) (5.8 ) Other noninterest expense: Advertising and contributions 3.2 2.0 2.8 2.7 3.2 60.0 ---- Servicing and consulting fees 3.4 2.6 2.8 2.4 2.9 30.8 17.2 Subadvisor expense 2.8 2.7 2.5 2.5 2.3 3.7 21.7 Travel, entertainment, and training 3.3 2.8 2.4 2.2 3.4 17.9 (2.9 ) Originating and processing fees 2.9 2.8 2.7 2.5 3.1 3.6 (6.5 ) Other expense     15.7       13.8       11.4       11.2       11.0   13.8 42.7 Total other noninterest expense 31.3       26.7       24.6       23.5       25.9   17.2 20.8 Total noninterest expense 116.9       110.8       106.0       110.4       104.9   5.5 11.4 Income before income taxes and minority interest 67.7 69.2 77.2 68.2 73.5 (2.2 ) (7.9 ) Applicable income taxes     23.6       22.9       28.3       24.6       26.3   3.1 (10.3 ) Net income before minority interest 44.1 46.3 48.9 43.6 47.2 (4.8 ) (6.6 ) Minority interest     0.1       0.1       ----       0.6       (0.3 ) ---- ---- Net income $ 44.0     $ 46.2     $ 48.9     $ 43.0     $ 47.5   (4.8 ) (7.4 ) WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007       YEAR-TO-DATE INCOME STATEMENT   Twelve Months Ended   Dec. 31, Dec. 31, % (In millions)   2007     2006     Change NET INTEREST INCOME Interest income $ 722.2 $ 674.8 7.0 Interest expense     353.3       311.7   13.3 Net interest income 368.9 363.1 1.6 Provision for loan losses     (28.2 )     (21.3 ) 32.4 Net interest income after provision for loan losses 340.7       341.8   (0.3 ) NONINTEREST INCOME Advisory fees: Wealth Advisory Services Trust and investment advisory fees 158.6 136.5 16.2 Mutual fund fees 21.4 20.2 5.9 Planning and other services     40.1       35.3   13.6 Total Wealth Advisory Services 220.1       192.0   14.6 Corporate Client Services Capital markets services 42.9 37.0 15.9 Entity management services 30.0 26.8 11.9 Retirement services 12.9 11.5 12.2 Investment/cash management services     12.8       10.3   24.3 Total Corporate Client Services 98.6       85.6   15.2 Cramer Rosenthal McGlynn 20.7 19.3 7.3 Roxbury Capital Management     1.2       1.2   ---- Advisory fees 340.6 298.1 14.3 Amortization of affiliate intangibles     (4.7 )     (4.2 ) 11.9 Advisory fees after amortization of affiliate intangibles 335.9       293.9   14.3 Service charges on deposit accounts 28.3 28.2 0.4 Other noninterest income 21.7 23.8 (8.8 ) Securities gains     0.1       0.2   (50.0 ) Total noninterest income 386.0       346.1   11.5 Net interest and noninterest income 726.7       687.9   5.6 NONINTEREST EXPENSE Salaries and wages 172.8 154.4 11.9 Incentives and bonuses 46.9 39.8 17.8 Employment benefits 50.9 48.3 5.4 Net occupancy 28.3 25.7 10.1 Furniture, equipment, and supplies 39.2 38.3 2.3 Other noninterest expense: Advertising and contributions 10.7 9.4 13.8 Servicing and consulting fees 11.2 10.4 7.7 Subadvisor expense 10.5 10.7 (1.9 ) Travel, entertainment, and training 10.7 10.4 2.9 Originating and processing fees 10.9 11.1 (1.8 ) Other expense     52.0       40.8   27.5 Total other noninterest expense 106.0       92.8   14.2 Total noninterest expense before impairment 444.1 399.3 11.2 Impairment write-down ----       72.3   (100.0 ) Total noninterest expense 444.1       471.6   (5.8 ) Income before income taxes and minority interest 282.6 216.3 30.7 Applicable income taxes     99.7       72.7   37.1 Net income before minority interest 182.9 143.6 27.4 Minority interest     0.9       (0.2 ) ---- Net income $ 182.0     $ 143.8   26.6 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007   COMPARISON OF OPERATING RESULTS (excluding the 2006 impairment write-down)             Three Months Ended Twelve Months Ended Dec. 31, Dec. 31, % Dec. 31, Dec. 31, %     2007   2006   Change   2007   2006   Change OPERATING RESULTS (in millions) Net interest income $ 91.1 $ 92.4 (1.4 ) $ 368.9 $ 363.1 1.6 Provision for loan losses (9.2 ) (6.5 ) 41.5 (28.2 ) (21.3 ) 32.4 Noninterest income 102.7 92.5 11.0 386.0 346.1 11.5 Total noninterest expense before impairment write-down 116.9 104.9 11.4 444.1 399.3 11.2 Impairment write-down     ----       ----     ----       ----       ----     ----   Total noninterest expense   116.9       104.9     11.4       444.1       399.3     11.2   Income before income taxes and minority interest 67.7 73.5 (7.9 ) 282.6 288.6 (2.1 ) Applicable income taxes     23.6       26.3     (10.3 )     99.7       103.3     (3.5 ) Net income before minority interest 44.1 47.2 (6.6 ) 182.9 185.3 (1.3 ) Minority interest     0.1       (0.3 )   ----       0.9       (0.2 )   ----   Net income $ 44.0     $ 47.5     (7.4 )   $ 182.0     $ 185.5     (1.9 )       PER-SHARE DATA Diluted shares outstanding (in millions) 67.7 69.7 (2.9 ) 68.9 69.7 (1.1 ) Per-share earnings (diluted) $ 0.65 $ 0.68 (4.4 ) $ 2.64 $ 2.66 (0.8 )       STATISTICS AND RATIOS (net income annualized; dollars in millions) Total assets, on average $ 11,126.0 $ 10,912.9 2.0 $ 10,997.4 $ 10,513.5 4.6 Stockholders' equity, on average 1,093.7 1,067.4 2.5 1,091.0 1,069.7 2.0 Return on average assets 1.57 % 1.73 % (9.2 ) 1.65 % 1.76 % (6.3 ) Return on equity 15.96 % 17.66 % (9.6 ) 16.68 % 17.34 % (3.8 )   Net interest income before provision and noninterest income $ 193.8 $ 184.9 4.8 $ 754.9 $ 709.2 6.4 Tax-equivalent interest income     0.9       1.1     (18.2 )     3.9       4.3     (9.3 ) $ 194.7 $ 186.0 4.7 $ 758.8 $ 713.5 6.3 Noninterest expense $ 116.9     $ 104.9     11.4     $ 444.1     $ 399.3     11.2   Efficiency ratio 60.04 % 56.40 % 6.5 58.53 % 55.96 % 4.6 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007             COMPARISON OF RESULTS WITH AND WITHOUT THE IMPAIRMENT WRITE-DOWN   Three months ended December 31, 2006   Twelve months ended December 31, 2006   With Without With Without       impairment     impairment     Impairment     impairment     impairment     Impairment OPERATING RESULTS (in millions) Net interest income $ 92.4 $ 92.4 $ ---- $ 363.1 $ 363.1 $ ---- Provision for loan losses (6.5 ) (6.5 ) ---- (21.3 ) (21.3 ) ---- Noninterest income 92.5 92.5 ---- 346.1 346.1 ---- Noninterest expense     104.9       104.9       ----     471.6       399.3       72.3   Income before taxes and minority interest 73.5 73.5 ---- 216.3 288.6 (72.3 ) Applicable income taxes     26.3       26.3       ----     72.7       103.3       (30.6 ) Net income before minority interest 47.2 47.2 ---- 143.6 185.3 (41.7 ) Minority interest     (0.3 )     (0.3 )     ----     (0.2 )     (0.2 )     ----   Net income $ 47.5     $ 47.5     $ ----   $ 143.8     $ 185.5     $ (41.7 )     PER SHARE DATA Diluted shares outstanding (in millions) 69.7 69.7 ---- 69.7 69.7 ---- Per-share earnings $ 0.68 $ 0.68 $ ---- $ 2.06 $ 2.66 $ (0.60 )     STATISTICS AND RATIOS (dollars in millions) Total assets, on average $ 10,912.9 $ 10,912.9 $ ---- $ 10,495.1 $ 10,513.5 $ (18.4 ) Stockholders' equity, on average 1,067.4 1,067.4 ---- 1,059.1 1,069.7 (10.6 ) Return on average assets 1.73 % 1.73 % ---- 1.37 % 1.76 % (0.39 )% Return on equity 17.66 % 17.66 % ---- 13.58 % 17.34 % (3.76 )%   Net interest income before provision and noninterest income $ 184.9 $ 184.9 $ ---- $ 709.2 $ 709.2 $ ---- Tax equivalent interest income     1.1       1.1       ----     4.3       4.3     $ ----   $ 186.0 $ 186.0 $ ---- $ 713.5 $ 713.5 $ ---- Noninterest expense $ 104.9     $ 104.9     $ ----   $ 471.6     $ 399.3     $ 72.3   Efficiency ratio 56.40 % 56.40 % ---- 66.10 % 55.96 % 10.13 % WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007   STATEMENT OF CONDITION     % Change From: Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, Prior   Prior     2007   2007   2007   2007   2006 Quarter   Year ASSETS Cash and due from banks $ 260.5   $ 286.3   $ 231.8   $ 222.2   $ 249.7   (9.0 ) 4.3 Federal funds sold and securities purchased under agreements to resell     134.0     16.5     18.0     68.9     68.9   N/M 94.5 Investment securities: U.S. Treasury 60.2 101.9 103.8 102.5 125.2 (40.9 ) (51.9 ) Government agencies 647.0 701.4 634.8 743.9 807.1 (7.8 ) (19.8 ) Obligations of state and political subdivisions 17.8 18.5 19.0 9.1 9.5 (3.8 ) 87.4 Preferred stock 44.9 62.6 63.8 74.2 90.5 (28.3 ) (50.4 ) Mortgage-backed securities 730.6 581.9 605.1 656.2 689.5 25.6 6.0 Other securities     368.7     385.1     387.5     391.5     392.8   (4.3 ) (6.1 ) Total investment securities   1,869.2     1,851.4     1,814.0     1,977.4     2,114.6   1.0 (11.6 ) Loans: Commercial, financial, and agricultural 2,594.9 2,529.0 2,483.7 2,455.2 2,533.5 2.6 2.4 Real estate - construction 1,780.4 1,759.9 1,747.0 1,665.5 1,663.9 1.2 7.0 Mortgage - commercial     1,463.4     1,388.8     1,390.5     1,378.3     1,296.1   5.4 12.9 Total commercial loans   5,838.7     5,677.7     5,621.2     5,499.0     5,493.5   2.8 6.3 Mortgage - residential 562.0 566.3 563.1 553.5 536.9 (0.8 ) 4.7 Consumer 1,571.6 1,546.0 1,517.0 1,503.9 1,517.0 1.7 3.6 Secured with liquid collateral     503.5     546.5     573.4     532.0     547.5   (7.9 ) (8.0 ) Total retail loans   2,637.1     2,658.8     2,653.5     2,589.4     2,601.4   (0.8 ) 1.4 Total loans net of unearned income 8,475.8 8,336.5 8,274.7 8,088.4 8,094.9 1.7 4.7 Reserve for loan losses     (101.1 )   (101.6 )   (97.5 )   (94.5 )   (94.2 ) (0.5 ) 7.3 Net loans   8,374.7     8,234.9     8,177.2     7,993.9     8,000.7   1.7 4.7 Premises and equipment 152.1 148.9 148.6 148.8 150.3 2.1 1.2 Goodwill 330.0 329.0 328.2 291.5 291.4 0.3 13.2 Other intangibles 38.3 38.7 40.1 34.2 35.4 (1.0 ) 8.2 Other assets     332.3     281.4     273.1     254.0     246.0   18.1 35.1 Total assets $ 11,491.1   $ 11,187.1   $ 11,031.0   $ 10,990.9   $ 11,157.0   2.7 3.0   LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing demand $ 966.2 $ 827.8 $ 812.7 $ 792.0 $ 913.6 16.7 5.8 Interest-bearing: Savings 659.8 580.1 497.1 422.7 313.8 13.7 110.3 Interest-bearing demand 2,471.8 2,346.7 2,483.1 2,478.6 2,560.6 5.3 (3.5 ) Certificates under $100,000 1,011.4 1,002.4 1,019.8 1,014.2 1,012.6 0.9 (0.1 ) Local certificates $100,000 and over     356.3     389.6     370.8     447.6     474.4   (8.5 ) (24.9 ) Total core deposits 5,465.5 5,146.6 5,183.5 5,155.1 5,275.0 6.2 3.6 National certificates $100,000 and over     2,392.0     2,353.1     2,979.3     2,970.6     3,054.1   1.7 (21.7 ) Total deposits   7,857.5     7,499.7     8,162.8     8,125.7     8,329.1   4.8 (5.7 ) Short-term borrowings: Federal funds purchased and securities sold under agreements to repurchase 1,790.3 1,925.5 1,174.4 1,153.5 1,145.8 (7.0 ) 56.2 U.S. Treasury demand     77.3     40.9     2.5     ----     13.0   89.0 494.6 Total short-term borrowings   1,867.6     1,966.4     1,176.9     1,153.5     1,158.8   (5.0 ) 61.2 Other liabilities 263.3 231.4 228.8 229.8 221.3 13.8 19.0 Long-term debt     392.3     391.5     390.2     389.5     388.5   0.2 1.0 Total liabilities   10,380.7     10,089.0     9,958.7     9,898.5     10,097.7   2.9 2.8 Minority interest 0.1 0.1 0.2 0.2 ---- ---- ---- Stockholders' equity     1,110.3     1,098.0     1,072.1     1,092.2     1,059.3   1.1 4.8 Total liabilities and stockholders' equity $ 11,491.1   $ 11,187.1   $ 11,031.0   $ 10,990.9   $ 11,157.0   2.7 3.0 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007       AVERAGE STATEMENT OF CONDITION   2007FourthQuarter 2007ThirdQuarter 2007SecondQuarter 2007FirstQuarter 2006FourthQuarter % Change From: Prior Prior (In millions)     Quarter   Year ASSETS Cash and due from banks $ 209.6   $ 208.1   $ 203.4   $ 213.9   $ 218.2   0.7 (3.9 ) Federal funds sold and securities purchased under agreements to resell 31.9     27.3     37.5     57.3     144.8   16.8 (78.0 ) Investment securities: U.S. Treasury 80.5 103.3 105.0 123.6 177.4 (22.1 ) (54.6 ) Government agencies 619.5 631.4 652.9 728.9 642.1 (1.9 ) (3.5 ) Obligations of state and political subdivisions 18.2 18.7 12.6 9.1 9.4 (2.7 ) 93.6 Preferred stock 49.0 62.5 68.5 85.1 90.7 (21.6 ) (46.0 ) Mortgage-backed securities 697.0 590.4 633.9 668.8 705.5 18.1 (1.2 ) Other securities     382.6     381.1     393.2     390.3     392.5   0.4 (2.5 ) Total investment securities 1,846.8     1,787.4     1,866.1     2,005.8     2,017.6   3.3 (8.5 ) Loans: Commercial, financial, and agricultural 2,521.5 2,454.9 2,500.1 2,466.2 2,430.5 2.7 3.7 Real estate - construction 1,790.2 1,769.2 1,696.7 1,669.8 1,634.9 1.2 9.5 Mortgage - commercial     1,423.5     1,387.3     1,376.9     1,339.9     1,281.4   2.6 11.1 Total commercial loans 5,735.2     5,611.4     5,573.7     5,475.9     5,346.8   2.2 7.3 Mortgage - residential 564.5 564.4 553.9 542.1 524.8 ---- 7.6 Consumer 1,556.5 1,533.0 1,503.9 1,512.3 1,496.1 1.5 4.0 Secured with liquid collateral     499.5     551.5     524.8     541.7     545.2   (9.4 ) (8.4 ) Total retail loans 2,620.5     2,648.9     2,582.6     2,596.1     2,566.1   (1.1 ) 2.1 Total loans net of unearned income 8,355.7 8,260.3 8,156.3 8,072.0 7,912.9 1.2 5.6 Reserve for loan losses     (99.4 )   (95.8 )   (93.3 )   (93.2 )   (91.6 ) 3.8 8.5 Net loans 8,256.3     8,164.5     8,063.0     7,978.8     7,821.3   1.1 5.6 Premises and equipment 150.9 148.5 148.6 150.3 151.5 1.6 (0.4 ) Goodwill 329.1 328.3 307.8 291.4 290.7 0.2 13.2 Other intangibles 38.2 39.4 34.0 34.8 38.1 (3.0 ) 0.3 Other assets     263.2     259.8     261.3     245.0     241.2   1.3 9.1 Total assets $ 11,126.0   $ 10,963.3   $ 10,921.7   $ 10,977.3   $ 10,923.4   1.5 1.9   LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing demand $ 723.5 $ 714.9 $ 702.6 $ 749.1 $ 793.6 1.2 (8.8 ) Interest-bearing: Savings 627.3 540.9 463.4 365.3 294.7 16.0 112.9 Interest-bearing demand 2,347.6 2,405.8 2,454.7 2,393.4 2,374.7 (2.4 ) (1.1 ) Certificates under $100,000 1,005.4 1,007.7 1,014.5 1,012.9 1,009.3 (0.2 ) (0.4 ) Local certificates $100,000 and over     390.7     376.2     427.2     457.7     535.8   3.9 (27.1 ) Total core deposits 5,094.5 5,045.5 5,062.4 4,978.4 5,008.1 1.0 1.7 National certificates $100,000 and over     2,369.1     2,817.9     2,853.8     2,992.1     3,042.2   (15.9 ) (22.1 ) Total deposits 7,463.6     7,863.4     7,916.2     7,970.5     8,050.3   (5.1 ) (7.3 )   Short-term borrowings: Federal funds purchased and securities sold under agreements to repurchase 1,919.9 1,386.8 1,270.8 1,318.5 1,221.4 38.4 57.2 U.S. Treasury demand     12.3     11.0     10.4     5.4     10.0   11.8 23.0 Total short-term borrowings 1,932.2     1,397.8     1,281.2     1,323.9     1,231.4   38.2 56.9 Other liabilities 244.5 223.4 214.2 231.5 183.0 9.4 33.6 Long-term debt     391.9     390.7     389.7     388.8     391.1   0.3 0.2 Total liabilities 10,032.2     9,875.3     9,801.3     9,914.7     9,855.8   1.6 1.8 Minority interest 0.1 0.2 0.2 0.4 0.2 (50.0 ) (50.0 ) Stockholders' equity     1,093.7     1,087.8     1,120.2     1,062.2     1,067.4   0.5 2.5 Total liabilities and stockholders' equity $ 11,126.0   $ 10,963.3   $ 10,921.7   $ 10,977.3   $ 10,923.4   1.5 1.9 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007           YIELDS AND RATES     2007FourthQuarter 2007ThirdQuarter 2007SecondQuarter 2007FirstQuarter 2006FourthQuarter YIELDS/RATES (tax-equivalent basis)                               EARNING ASSETS: Federal funds sold and securities purchased under agreements to resell 4.64 %   6.36 %   5.18 %   5.05 %   5.23 %   Total investment securities 5.00 4.94 4.98 4.95 4.87   Commercial, financial, and agricultural 7.39 7.91 7.90 8.04 8.02 Real estate - construction 7.82 8.41 8.56 8.60 8.69 Mortgage - commercial 7.64 8.04 8.02 8.03 8.11 Total commercial loans 7.59 8.10 8.13 8.21 8.24 Mortgage - residential 5.80 5.74 5.87 5.95 5.76 Consumer 7.33 7.48 7.44 7.41 7.39 Secured with liquid collateral 6.51 6.88 6.83 6.81 6.87 Total retail loans 6.84 6.98 6.98 6.98 6.95 Total loans 7.36 7.74 7.77 7.81 7.82 Total earning assets 6.92 7.23 7.23 7.22 7.19   FUNDS USED TO SUPPORT EARNING ASSETS: Core deposits Savings 2.92 2.63 2.07 1.29 0.51 Interest-bearing demand 1.26 1.45 1.44 1.46 1.31 Certificates under $100,000 4.27 4.23 4.45 4.35 4.22 Local certificates $100,000 and over 4.85 4.78 4.55 5.00 4.81 Core interest-bearing deposits 2.51 2.54 2.51 2.52 2.44   National certificates $100,000 and over 5.23 5.41 5.40 5.43 5.46   Total interest-bearing deposits 3.46 3.67 3.66 3.73 3.68   Short-term borrowings 4.34 4.74 4.83 4.97 5.03   Long-term debt 6.92 6.66 7.00 6.86 6.76   Total interest-bearing liabilities 3.80 3.97 3.97 4.05 4.00 Total funds used to support earning assets 3.36 3.50 3.50 3.55 3.52 Net interest margin (tax-equivalent basis) 3.56 3.73 3.73 3.67 3.67   Year-to-date net interest margin 3.67 3.71 3.70 3.67 3.79   Prime rate 7.58 8.18 8.25 8.25 8.25   Tax-equivalent net interest income (in millions) $ 92.0 $ 95.1 $ 93.8 $ 91.9 $ 93.5   Average earning assets at historical cost $ 10,258.9 $ 10,113.9 $ 10,082.8 $ 10,163.3 $ 10,105.2 Average fair valuation adjustment on investment securities available for sale (24.5 ) (38.9 ) (22.9 ) (28.2 ) (29.9 ) Average earning assets $ 10,234.4   $ 10,075.0   $ 10,059.9   $ 10,135.1   $ 10,075.3     Average rates are calculated using average balances based on historical cost and do not reflect fair valuation adjustments. WILMINGTON TRUST CORPORATION QUARTERLY SUMMARYAs of and for the twelve months ended December 31, 2007           CREDIT QUALITY   Three Months Ended   (Dollars in millions)     Dec. 31,2007       Sept. 30,2007       June 30,2007       Mar. 31,2007       Dec. 31,2006 NONPERFORMING ASSETS AT PERIOD-END Nonaccruing loans: Commercial, financial, and agricultural $ 18.7 $ 12.1 $ 11.0 $ 10.3 $ 13.7 Commercial real estate - construction 9.9 21.2 13.6 ---- ---- Commercial mortgage 7.1 8.7 9.1 3.9 8.5 Consumer and other retail     12.1       12.1       11.6       8.9       8.8 Total nonaccruing loans 47.8 54.1 45.3 23.1 31.0 Other real estate owned (OREO) 9.1 0.2 0.2 4.8 4.8 Renegotiated loans     23.7       19.2       0.2       4.7       ---- Total nonperforming loans 80.6 73.5 45.7 32.6 35.8   Loans past due 90 days or more: Commercial, financial, and agricultural 2.4 9.4 6.4 2.3 1.5 Commercial real estate - construction 0.7 0.7 1.0 1.6 ---- Commercial mortgage 1.3 1.1 1.4 0.4 0.2 Consumer and other retail     9.3       5.8       4.8       3.0       4.1 Total loans past due 90 days or more 13.7 17.0 13.6 7.3 5.8   NET CHARGE-OFFS Loans charged off: Commercial, financial, and agricultural $ 1.3 $ 0.6 $ 1.4 $ 1.0 $ 3.3 Commercial real estate - construction 2.3 0.6 ---- ---- ---- Commercial mortgage 1.2 0.1 ---- ---- ---- Consumer and other retail     6.7       5.5       4.7       4.3       3.8 Total loans charged off 11.5 6.8 6.1 5.3 7.1 Recoveries on loans previously charged off: Commercial, financial, and agricultural ---- 0.2 0.3 0.5 0.1 Commercial real estate - construction ---- ---- ---- ---- ---- Commercial mortgage ---- ---- ---- 0.2 ---- Consumer and other retail     1.8       1.8       2.3       1.3       1.1 Total recoveries 1.8 2.0 2.6 2.0 1.2 Net loans charged off 9.7 4.8 3.5 3.3 5.9   RATIOS Period-end reserve to loans 1.19 %   1.22 %   1.18 %   1.17 %   1.16 % Period-end non-performing assets to loans 0.95 0.88 0.55 0.40 0.44 Period-end loans past due 90 days to total loans 0.16 0.20 0.16 0.09 0.07 Quarterly net charge-offs to average loans (not annualized) 0.12 0.06 0.04 0.04 0.07 Year-to-date net charge-offs to average loans 0.26 0.14 0.08 0.04 0.24   INTERNAL RISK RATING Pass 96.03 %   96.01 %   96.81 %   96.89 %   97.39 % Watchlisted 2.69 2.62 2.27 2.32 1.82 Substandard 1.27 1.36 0.91 0.77 0.79 Doubtful 0.01 0.01 0.01 0.01 ----   LOAN PORTFOLIO COMPOSITION Commercial, financial, and agricultural 31 %   30 %   30 %   30 %   31 % Commercial real estate - construction 21 21 21 21 21 Commercial mortgage 17 17 17 17 16 Residential mortgage 6 7 7 7 6 Consumer 19 18 18 19 19 Secured by liquid collateral 6 7 7 6 7   COMMERCIAL REAL ESTATE - CONSTRUCTION DETAIL Project type: Residential real estate construction 52 %   54 %   53 %   53 %   52 % Land development 21 19 18 19 18 Retail and office 14 13 13 14 13 Owner-occupied 5 6 6 6 7 Multi-family 2 2 2 2 3 Other 6 6 8 6 7 Geographic location: Delaware 61 %   59 %   59 %   59 %   58 % Pennsylvania 25 27 26 26 26 Maryland 7 7 8 7 8 New Jersey 4 4 5 6 6 Other 3 3 2 2 2 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARYAs of and for the twelve months ended December 31, 2007 SUPPLEMENTAL INFORMATION     Three Months Ended         % Change From:           Dec. 31,2007       Sept. 30,2007       June 30,2007       Mar. 31,2007       Dec. 31,2006     PriorQuarter   PriorYear NET INCOME Net income per share Basic $ 0.66 $ 0.68 $ 0.71 $ 0.63 $ 0.69 (2.9 ) (4.3 ) Diluted 0.65 0.67 0.70 0.62 0.68 (3.0 ) (4.4 ) Weighted average shares outstanding (in thousands) Basic 67,174 67,698 68,403 68,525 68,455 Diluted 67,749 68,582 69,435 69,659 69,615 Net income as a percentage of: Average assets 1.57 %   1.67 %   1.80 %   1.59 %   1.73 % Average stockholders' equity 15.96 16.85 17.51 16.42 17.66   ASSETS UNDER MANAGEMENT * (in billions) Wilmington Trust $ 34.5 $ 33.2 $ 31.9 $ 31.8 $ 31.3 3.9 10.2 Wilmington Trust FSB, MA (formerly Bingham Legg Advisers) 1.4 1.3 1.3 ---- ---- 7.7 ---- Roxbury Capital Management 2.5 2.8 3.0 3.1 3.1 (10.7 ) (19.4 ) Cramer Rosenthal McGlynn     11.4       11.8       11.9       11.2       10.6 (3.4 ) 7.5 Combined assets under management $ 49.8     $ 49.1     $ 48.1     $ 46.1     $ 45.0 1.4 10.7   * Assets under management include estimates for values associated with certain assets that lack readily ascertainable values, such as limited partnership interests.   ASSETS UNDER ADMINISTRATION ** (in billions) Wilmington Trust $ 124.3 $ 121.6 $ 120.1 $ 112.1 $ 107.5 2.2 15.6 ** Includes Wilmington Trust assets under management   INVESTMENT MIX OF ASSETS MANAGED BY WILMINGTON TRUST Equities 47 %   49 %   49 %   48 %   47 % Fixed income 23 23 22 27 27 Other 30 28 29 25 26   CAPITAL (in millions, except per share amounts) Average stockholders' equity $ 1,093.7 $ 1,087.8 $ 1,120.2 $ 1,062.2 $ 1,067.4 0.5 2.5 Period-end primary capital 1,211.4 1,199.6 1,169.6 1,186.7 1,153.5 1.0 5.0 Per share: Book value 16.55 16.23 15.77 15.90 15.47 2.0 7.0 Quarterly dividends declared 0.335 0.335 0.335 0.315 0.315 ---- 6.3 Year-to-date dividends declared 1.32 0.985 0.65 0.315 1.245 Average stockholders' equity to assets 9.83 %   9.92 %   10.26 %   9.68 %   9.78 % Total risk-based capital ratio 11.22 11.54 11.54 12.53 12.10 Tier 1 risk-based capital ratio 7.74 7.96 8.00 8.64 8.25 Tier 1 leverage capital ratio 7.19 7.31 7.37 7.64 7.39   INVESTMENT SECURITIES PORTFOLIO Average life (in years) 4.45 4.66 5.08 4.59 4.93 Average duration 1.97 1.85 2.19 2.05 2.24 Percentage invested in fixed income instruments 82 %   81 %   80 %   81 %   82 %   FUNDING (on average) Percentage from core deposits 54 % 57 % 58 % 58 % 58 % Percentage from national funding 25 27 27 27 28 Percentage from short-term borrowings 21 16 15 15 14   ASSET - LIABILITY MATCHING As a percentage of total balances at period-end: Loans outstanding with floating rates 71 %   71 %   73 %   73 %   74 % Commercial loans tied to a prime rate 59 60 61 61 61 Commercial loans tied to the 30-day LIBOR 36 35 33 34 35   National CDs and short-term borrowings maturing in 90 days or less 78 %   80 %   76 %   82 %   67 %   FULL-TIME EQUIVALENT HEADCOUNT Full-time equivalent headcount 2,672 2,658 2,597 2,593 2,574 WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007   QUARTERLY BUSINESS SEGMENT REPORT   Three Months Ended         Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, (In millions) 2007   2007   2007   2007   2006 REGIONAL BANKING Net interest income $ 84.3 $ 87.6 $ 86.3 $ 83.8 $ 84.4 Provision for loan losses (6.9 ) (7.8 ) (6.1 ) (3.6 ) (6.4 ) Noninterest income 13.2 12.1 13.6 12.4 13.6 Noninterest expense   45.1       43.0       40.3       42.1       41.1   Income before taxes & minority interest 45.5 48.9 53.5 50.5 50.5   Regional Banking efficiency ratio 45.83 % 42.74 % 39.98 % 43.36 % 41.56 %   WEALTH ADVISORY SERVICES Net interest income $ 6.4 $ 6.4 $ 6.1 $ 6.3 $ 6.6 Provision for loan losses (2.3 ) (1.1 ) (0.4 ) ---- (0.1 ) Noninterest income 56.2 53.2 51.0 49.2 49.1 Noninterest expense   49.4       46.2       44.9       47.7       43.5   Income before taxes & minority interest 10.9 12.3 11.8 7.8 12.1   Wealth Advisory Services efficiency ratio 78.91 % 77.39 % 78.50 % 85.79 % 77.96 %   CORPORATE CLIENT SERVICES Net interest income $ 3.3 $ 3.2 $ 3.5 $ 3.7 $ 4.3 Provision for loan losses ---- ---- ---- ---- ---- Noninterest income 27.7 25.1 26.0 25.2 24.7 Noninterest expense   22.4       21.6       20.8       20.6       20.3   Income before taxes & minority interest 8.6 6.7 8.7 8.3 8.7   Corporate Client Services efficiency ratio 72.26 % 76.33 % 70.51 % 71.28 % 69.76 %   AFFILIATE MANAGERS * Net interest income $ (2.9 ) $ (3.1 ) $ (3.1 ) $ (3.0 ) $ (2.9 ) Provision for loan losses ---- ---- ---- ---- ---- Noninterest income 5.6 4.4 6.3 4.6 5.1 Noninterest expense   ----       ----       ----       ----       ----   Income before taxes & minority interest 2.7 1.3 3.2 1.6 2.2   TOTAL WILMINGTON TRUST CORPORATION Net interest income $ 91.1 $ 94.1 $ 92.8 $ 90.8 $ 92.4 Provision for loan losses (9.2 ) (8.9 ) (6.5 ) (3.6 ) (6.5 ) Noninterest income 102.7 94.8 96.9 91.4 92.5 Noninterest expense   116.9       110.8       106.0       110.4       104.9   Income before taxes & minority interest $ 67.7     $ 69.2     $ 77.2     $ 68.2     $ 73.5     Corporation efficiency ratio 60.04 % 58.35 % 55.58 % 60.26 % 56.40 % * Affiliate managers comprise Cramer Rosenthal McGlynn and Roxbury Capital Management.   Segment data for prior periods may differ from previously published figures due to changes in reporting methodology and/or organizational structure. WILMINGTON TRUST CORPORATION QUARTERLY SUMMARY As of and for the twelve months ended December 31, 2007   YEAR-TO-DATE BUSINESS SEGMENT REPORT     Twelve Months Ended       Dec. 31, Dec. 31, $ % (In millions)   2007   2006   Change   Change REGIONAL BANKING Net interest income $ 342.0 $ 334.9 $ 7.1 2.1   Provision for loan losses (24.4 ) (20.5 ) 3.9 19.0 Noninterest income 51.5 52.1 (0.6 ) (1.2 ) Noninterest expense     170.5       157.6       12.9     8.2     Income before taxes & minority interest 198.6 208.9 (10.3 ) (4.9 )   Regional Banking efficiency ratio 42.95 % 40.33 %   WEALTH ADVISORY SERVICES Net interest income $ 25.3 $ 25.7 $ (0.4 ) (1.6 )   Provision for loan losses (3.8 ) (0.8 ) 3.0 375.0 Noninterest income 209.6 184.0 25.6 13.9 Noninterest expense     188.2       166.0       22.2     13.4     Income before taxes & minority interest 42.9 42.9 ---- ----   Wealth Advisory Services efficiency ratio 80.05 % 79.05 %   CORPORATE CLIENT SERVICES Net interest income $ 13.7 $ 15.0 $ (1.3 ) (8.7 )   Provision for loan losses ---- ---- ---- ---- Noninterest income 104.0 90.4 13.6 15.0 Noninterest expense     85.4       75.6       9.8     13.0     Income before taxes & minority interest 32.3 29.8 2.5 8.4   Corporate Client Services efficiency ratio 72.43 % 71.59 %   AFFILIATE MANAGERS * Net interest income $ (12.1 ) $ (12.5 ) $ 0.4 3.2   Provision for loan losses ---- ---- ---- ---- Noninterest income 20.9 19.6 1.3 6.6 Noninterest expense     ----       72.4       (72.4 )   (100.0 )   Income before taxes & minority interest 8.8 (65.3 ) 74.1 ----   TOTAL WILMINGTON TRUST CORPORATION Net interest income $ 368.9 $ 363.1 $ 5.8 1.6   Provision for loan losses (28.2 ) (21.3 ) 6.9 32.4 Noninterest income 386.0 346.1 39.9 11.5 Noninterest expense     444.1       471.6       (27.5 )   (5.8 )   Income before taxes & minority interest $ 282.6     $ 216.3     $ 66.3     30.7       Corporation efficiency ratio 58.53 % 66.10 % * Affiliate managers comprise Cramer Rosenthal McGlynn and Roxbury Capital Management.   Segment data for prior periods may differ from previously published figures due to changes in reporting methodology and/or organizational structure.