##### 








---



##### 



2007 at a glance
  Increase/For the year ended December 31
    
    
    2007
    
    
    2006
    
    
    (decrease)OPERATING RESULTS(in millions)Net interest income
    
    $
    368.9
    
    
    $
    363.1
    
    
    
    2
    %Provision for loan losses
    
    
    (28.2
    )
    
    
    (21.3
    )
    
    
    32Noninterest income
    
    
    386.0
    
    
    
    346.1
    
    
    
    12Noninterest expense
    
    
    444.1
    
    
    
    471.6
    
    
    
    (6
    )Net income
    
    
    182.0
    
    
    
    143.8
    
    
    
    27Net income excluding impairment write-down
    
    $
    182.0
    
    
    $
    185.5
    1
    
    
    (2
    )PER-SHARE DATANet income per share (diluted)
    
    $
    2.64
    
    
    $
    2.06
    
    
    
    28
    %Net income per share (diluted) excluding
impairment write-down
    
    
    2.64
    
    
    
    2.66
    1
    
    
    (1
    )Dividends paid per share
    
    
    1.32
    
    
    
    1.245
    
    
    
    6Weighted average shares outstanding
(in thousands, diluted)
    
    
    68,851
    
    
    
    69,675AVERAGE BALANCES(in millions)Investment securities portfolio
    
    $
    1,875.9
    
    
    $
    1,893.1
    
    
    
    (1
    )%Loans
    
    
    8,212.0
    
    
    
    7,699.8
    
    
    
    7Reserve for loan losses
    
    
    (95.5
    )
    
    
    (91.8
    )
    
    
    4Earning assets
    
    
    10,126.3
    
    
    
    9,645.7
    
    
    
    5Total assets
    
    
    10,997.4
    
    
    
    10,495.1
    
    
    
    5Core deposits
    
    
    5,045.5
    
    
    
    4,936.7
    
    
    
    2Stockholders equity
    
    
    1,091.0
    
    
    
    1,059.1
    
    
    
    3ASSETS UNDER MANAGEMENT(in billions)Wilmington Trust Company
    
    $
    35.9
    
    
    $
    31.3
    
    
    
    15
    %Cramer Rosenthal McGlynn
    
    
    11.4
    
    
    
    10.6
    
    
    
    8Roxbury Capital Management
    
    
    2.5
    
    
    
    3.1
    
    
    
    (19
    )Combined assets under management
    
    $
    49.8
    
    
    $
    45.0
    
    
    
    11STATISTICS AND RATIOSReturn on average assets
    
    
    1.65
    %
    
    
    1.37
    %Return on average stockholders equity
    
    
    16.68
    %
    
    
    13.58
    %Net interest margin (taxable equivalent)
    
    
    3.67
    %
    
    
    3.79
    %Staff members (full-time equivalent)
    
    
    2,672
    
    
    
    2,574
 1
    

In 2006 we recorded a non-cash impairment write-down on our
investment in affiliate money manager Roxbury Capital Management.
We show amounts excluding this write-down because we believe they
give investors a more relevant basis for evaluating our
performance. For comparisons of 2006 results with and without the
impairment write-down, see the five-year comparison of
consolidated statements of income and the summary of consolidated
quarterly results of operations in this report.    Regional Banking
 Corporate Client Services
 Wealth Advisory Services




---



##### 



TO OUR SHAREHOLDERS
       
 OUR LONG-TERM VIEW CREATES LONG-TERM CONSISTENCY
 
  
 Ted T. Cecala
Chairman and Chief
Executive Officer
Wilmington Trust
  
    
    Loan balances reached a record high, but the interest rate and economic environment
limited growth in Regional Banking revenue
    
    Wealth Advisory Services and Corporate Client Services recorded impressive growth
    
    We completed acquisitions in Boston and Luxembourg
    
    We raised our cash dividend for the 26th consecutive year
 
 1




---



##### 



th Barrons
        
    
    We remained the market leader
in Delaware
    
    We made more commercial loans in
Pennsylvania, Maryland, and New Jersey
    
    Loan balances rose 7% to $8.21 billion,
on average
 
 
 2




---



##### 



EACH OF OUR BUSINESSES HAS STRONG MOMENTUM
 
      
 3




---



##### 



THERES NO PLACE LIKE HOME
 
         
    
    Recent expansion investments
generated additional business
 
    
    We prevailed against the
near-absence of capital markets
activity
 
    
    We sold more
institutional investment and
cash management services
  
 
 
    
    Recent expansion investments
generated additional business
 Commercial banking growth
potential in the mid-Atlantic
region
 Number of middle market businesses:Delaware
    
    
    719Philadelphia metropolitan area
    
    
    5,555Baltimore metropolitan area
    
    
    4,235Central & southern New Jersey
    
    
    3,308
 
 Source: Dun & Bradstreet 2007 4




---



##### 



TRANSITIONS ON OUR BOARD
 
        2007 contribution by buisness line
 (In millions, except
    
    Net
    
    
    Earningsshare amounts)
    
    income
    
    
    per shareRegional Banking
    
    $
    129.6
    
    
    $
    1.88Corporate Client Services
    
    $
    20.8
    
    
    $
    0.30Wealth Advisory Services
    
    $
    27.5
    
    
    $
    0.40Affiliate Money Managers
    
    $
    4.1
    
    
    $
    0.06Total
    
    $
    182.0
    
    
    $
    2.64
 5




---



##### 



ACKNOWLEDGEMENTS
      
 
 Dividend Achievers
 
 1 Excluding 2006 non-cash
impairment write-down. Including the
write-down, 2006 earnings per share
were $2.06. 6




---



##### 



TABLE OF CONTENTS
 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONSThe purpose of this discussion is to help investors gauge how well we
executed our strategy to produce consistent results over the long term.
    
    
    
    
    8We start with a summary of our 2007 results.
    
    Summary of financial performance
    
    
    8Then we provide more detail about each of our three businesses
and other factors that affected our 2007 results.
    
    Regional Banking
    
    
    14Corporate Client Services
    
    
    23Wealth Advisory Services
    
    
    27Assets under management and administration
    
    
    30Affiliate Money Managers
    
    
    31Then we discuss how we manage capital and fund our business activities.
    
    Capital resources and liquidity
    
    
    33Next we discuss our primary risks and the steps we take to mitigate them.
    
    Primary risks
    
    
    41Asset quality and credit risk
    
    
    43Interest rate risk
    
    
    51Financial market risk
    
    
    55Economic risk
    
    
    56Operational and fiduciary risk
    
    
    57Regulatory and legal risk
    
    
    57Finally, we summerize our derivative and hedging instruments, other
off-balance-sheet arrangements,  other contractual obligations, and other information.
    
    Other information
    
    
    58SELECTED FINANCIAL DATAOther multiyear comparisons of financial results
    
    
    
    
    62AUDITED CONSOLIDATED FINANCIAL STATEMENTS
    
    
    
    
    71NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
    
    
    
    
    78MANAGEMENTS DISCUSSION OF FINANCIAL RESPONSIBILITYHere we affirm our commitment to presenting information that is complete,
transparent, and understandable.
    
    
    
    
    112REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
    113BOARD OF DIRECTORS AND PRINCIPAL OFFICERS
    
    
    
    
    115STOCKHOLDER INFORMATION
    
    
    
    
    116
 2007 Annual Report
    
    7




---



##### 



MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
   
    
    sustainable earnings growth and
    
    consistent profitability with low volatility.
  
    
    investing in businesses that have the most potential for long-term growth or high operating
profit margins;
    
    being the market leader in each of our businesses; and
    
    increasing profitability without compromising our overall risk profile.
   
    
    are not reliant on a single source of revenue;
    
    manage risk conservatively; and
    
    regularly invest our capital for future growth.
 ABOUT WILMINGTON TRUST
    SUMMARY OF FINANCIAL PERFORMANCE
    8     MD&A
    
    Wilmington Trust Corporation




---



##### 



Net income and earnings per share
 For the year endedDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    Change(in millions, except
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.share amounts)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Including the non-cash
impairment
write-downReported
net income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0
    
    
    
    27
    %
    
    
    (14
    )%Reported
earnings per
share (diluted)
    
    $
    2.64
    
    
    $
    2.06
    
    
    $
    2.43
    
    
    
    28
    %
    
    
    (15
    )%Excluding the non-cash
impairment
write-downOperating
net income
    
    $
    182.0
    
    
    $
    185.5
    
    
    $
    167.0
    
    
    
    (2
    )%
    
    
    11
    %Operating
earnings per
share (diluted)
    
    $
    2.64
    
    
    $
    2.66
    
    
    $
    2.43
    
    
    
    (1
    )%
    
    
    9
    %
   
    
    The expansion investments we have made in recent years
helped us generate higher levels of fee-based income;
 
    
    The slowing economy and declining interest rate environment
mitigated growth in the Regional Banking business; and
 
    
    Our business mix produces positive results in times of economic change.
    NET INCOME
 
 
 1 Excluding non-cash impairment write-down. NET INTEREST MARGIN
 
 2007 Annual Report
    
    9




---



##### 



ASSETS
 
          
    
    In June, we acquired a wealth consulting firm in Boston,
fulfilling our longstanding goal of establishing a WAS
presence in that market.
 
    
    In June, we also acquired a small corporate services
provider in Luxembourg, adding another key jurisdiction to
our CCS capabilities.
 
    
    Late in the year, we added key commercial banking staff in
Baltimore, where we see tremendous opportunity.
 10     MD&A
    
    Wilmington Trust Corporation




---



##### 




    
    Opening new offices in the Lehigh Valley area of eastern
Pennsylvania and in Princeton, New Jersey, which we staffed
with teams of commercial lenders and wealth advisors.
 
    
    Launching family office services in the WAS business on the
East Coast. We opened an office in Stamford, Connecticut,
and added staff in New York, Princeton, and Delaware, and
gained several new areas of specialization.
 
    
    Opening a CCS office in Germany and acquiring a corporate
services provider in the Cayman Islands.
 
    
    Adding staff and building proprietary technology to support
CCS services for collateralized debt obligations, tender
option bonds, and other new products.
 
    
    Opening a new, larger Pennsylvania headquarters in Villanova.
 
    
    Introducing WTDirect, the Internet-only channel through
which we offer a high-yield savings account.
   Expenses
 For the year ended
    
    
    
    
    
    
    
    
    
    
    
    
    
    ChangeDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Full-time-equivalent
staff members
    
    
    2,672
    
    
    
    2,574
    
    
    
    2,469
    
    
    
    4
    %
    
    
    4
    %Staffing-related
expenses
    
    $
    270.6
    
    
    $
    242.5
    
    
    $
    225.0
    
    
    
    12
    %
    
    
    8
    %Total expenses
(including the
non-cash
impairment
write-down)
    
    $
    444.1
    
    
    $
    471.6
    
    
    $
    370.1
    
    
    
    (6
    )%
    
    
    27
    %Total expenses
(excluding the
non-cash
impairment
write-down)
    
    $
    444.1
    
    
    $
    399.3
    
    
    $
    370.1
    
    
    
    11
    %
    
    
    8
    %
  EXPENSES
 
 2007 Annual Report
    
    11




---



##### 



Income taxes and tax rate
 2006
    
    
    2006(with
    
    
    (withoutimpairment
    
    
    impairmentFor the year
    
    2007
    
    
    write-down)
    
    
    write-down)
    
    
    2005Pre-tax income (in millions)
    
    $
    282.6
    
    
    $
    216.3
    
    
    $
    288.6
    
    
    $
    260.3Income tax expense
(in millions)
    
    $
    99.7
    
    
    $
    72.7
    
    
    $
    103.3
    
    
    $
    93.0Effective tax rate
    
    
    35.28
    %
    
    
    33.61
    %
    
    
    35.79
    %
    
    
    35.73
    %
   Efficiency ratios
 For the year
    
    2007
    
    
    2006
    
    
    2005Regional Banking
    
    
    42.95
    %
    
    
    40.33
    %
    
    
    42.19
    %Wealth Advisory Services
    
    
    80.05
    %
    
    
    79.05
    %
    
    
    80.61
    %Corporate Client Services
    
    
    72.43
    %
    
    
    71.59
    %
    
    
    72.55
    %Wilmington Trust consolidated
    
    
    58.53
    %
    
    
    66.10
    %
    
    
    57.28
    %Wilmington Trust consolidated,
excluding non-cash write-down
    
    
    58.53
    %
    
    
    55.96
    %
    
    
    57.28
    %
 12     MD&A
    
    Wilmington Trust Corporation




---



##### 



2007 contribution by business line
 Corporate
    
    
    Wealth
    
    
    Affiliate(In millions,
    
    Regional
    
    
    Client
    
    
    Advisory
    
    
    Moneyexcept share amounts)
    
    Banking
    
    
    Services
    
    
    Services
    
    
    ManagersTotal revenue (after the loan
loss provision and amortization)
    
    $
    369.1
    
    
    $
    117.7
    
    
    $
    231.1
    
    
    $
    8.8Expenses
    
    $
    170.5
    
    
    $
    85.4
    
    
    $
    188.2
    
    
    $
    Net income
    
    $
    129.6
    
    
    $
    20.8
    
    
    $
    27.5
    
    
    $
    4.1Earnings per share
    
    $
    1.88
    
    
    $
    0.30
    
    
    $
    0.40
    
    
    $
    0.06
 2006 contribution by business line
 Corporate
    
    
    Wealth
    
    
    Affiliate(In millions,
    
    Regional
    
    
    Client
    
    
    Advisory
    
    
    Moneyexcept share amounts)
    
    Banking
    
    
    Services
    
    
    Services
    
    
    ManagersTotal revenue (after the loan
loss provision and amortization)
    
    $
    366.5
    
    
    $
    105.4
    
    
    $
    208.9
    
    
    $
    7.1Expenses
    
    $
    157.6
    
    
    $
    75.6
    
    
    $
    166.0
    
    
    $
    72.4Net income
    
    $
    135.6
    
    
    $
    19.9
    
    
    $
    27.7
    
    
    $
    (39.4
    )Earnings per share
    
    $
    1.95
    
    
    $
    0.28
    
    
    $
    0.40
    
    
    $
    (0.57
    )
    Mix of revenue
 For the year
(in millions)
    
    2007
    
    
    2006
    
    
    2005Net interest income
(after the loan
loss provision)
    
    $
    340.7
    
    
    $
    341.8
    
    
    $
    317.1Noninterest
income (after
amortization)
    
    
    386.0
    
    
    
    346.1
    
    
    
    313.3Total revenue
    
    $
    726.7
    
    
    $
    687.9
    
    
    $
    630.4
 Revenue mix in percentages
 For the year
    
    2007
    
    
    2006
    
    
    2005Net interest income
(after the loan
loss provision)
    
    
    47
    %
    
    
    50
    %
    
    
    50
    %Noninterest
income (after
amortization)
    
    
    53
    %
    
    
    50
    %
    
    
    50
    %
 2007 Annual Report
    
    13




---



##### 



COMPETITIVE ADVANTAGES
 Relationship focus.
 Locally based, well-known brand.
 Team-based business model.
 Concentrated markets.
 Mid-Atlantic region
 
 REGIONAL BANKING
 OVERVIEW
  
    
    Commercial banking services.We offer a variety of
commercial, commercial construction, and commercial mortgage
loans, as well as cash management and other banking
services. Most of our commercial loans have floating rates,
and most are secured by the borrowers assets and supported
by personal guarantees.We target our commercial banking activities to middle-market
clients throughout the mid-Atlantic region who have family-owned
or closely held businesses with annual sales of up to $250
million. We serve these clients with teams of commercial lenders
and wealth advisors from offices in Delaware; Bethlehem,
Doylestown, Philadelphia, Villanova, and West Chester,
Pennsylvania; Mt. Laurel and Princeton, New Jersey; and
Baltimore and Bel Air, Maryland.
 
    
    Consumer and other retail banking services.These services
include a variety of deposit services, loans to individuals,
and residential mortgage loans. On our balance sheet, loans
secured with liquid collateral are recorded as retail loans,
but these loans mainly are associated with Wealth Advisory
Services clients.
     14     MD&A
    
    Wilmington Trust Corporation




---



##### 



2007 HIGHLIGHTS
  Loan balances topped $8 billion for the first time on an
average-balance basis.
 Loan growth
 For the year endedDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    Change(in millions,
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.on average)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Commercial
    
    $
    5,599.8
    
    
    $
    5,195.0
    
    
    $
    4,673.5
    
    
    
    8
    %
    
    
    11
    %Consumer and
other retail
    
    
    2,612.2
    
    
    
    2,504.8
    
    
    
    2,373.6
    
    
    
    4
    %
    
    
    6
    %Total loans
    
    $
    8,212.0
    
    
    $
    7,699.8
    
    
    $
    7,047.1
    
    
    
    7
    %
    
    
    9
    %
 We benefited from the commercial banking expansion we undertook
in 2006.
 We continued to be the commercial and consumer banking leader in
Delaware.
 Key measures of credit quality returned to levels more in line
with what we have experienced historically.
 On a percentage basis, the composition of the loan portfolio
remained well diversified among commercial and consumer lines.
  Geographic sources of loans
 As of December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Loan balances
    
    $
    8,475.8
    
    
    $
    8,094.9
    
    
    $
    7,397.7Percent by
market:Delaware
    
    
    59
    %
    
    
    61
    %
    
    
    61
    %Pennsylvania
    
    
    22
    
    
    
    21
    
    
    
    22Other markets


19



18



17
 Delaware market share
 Wilmington
    
    
    NextTrust
    
    
    highest(Dollars in billions)
    
    Company
    
    
    balanceTotal loans
    
    $
    7.8
    
    
    $
    2.4Core deposits
    
    $
    5.2
    
    
    $
    2.2
 Source:
    Federal Deposit Insurance Corporation2007 Market Share Report 2007 Annual Report
    
    15




---



##### 



Loan portfolio composition at December 31
 2007
    
    
    2006
    
    
    2005Commercial, financial,
and agricultural
    
    
    31
    %
    
    
    31
    %
    
    
    34
    %Commercial real
estate/construction
    
    
    21
    
    
    
    21
    
    
    
    16Commercial mortgage
    
    
    17
    
    
    
    16
    
    
    
    17Residential mortgage
    
    
    6
    
    
    
    6
    
    
    
    6Consumer
    
    
    19
    
    
    
    19
    
    
    
    19Secured by
liquid collateral
    
    
    6
    
    
    
    7
    
    
    
    8
 TOTAL LOANS
 
 Loan balances at December 31
 (In millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004
    
    
    2003Commercial, financial,
and agricultural
    
    $
    2,594.9
    
    
    $
    2,533.5
    
    
    $
    2,461.3
    
    
    $
    2,505.2
    
    
    $
    2,275.2Commercial real
estate/construction
    
    
    1,780.4
    
    
    
    1,663.9
    
    
    
    1,233.9
    
    
    
    735.4
    
    
    
    699.8Commercial mortgage
    
    
    1,463.4
    
    
    
    1,296.1
    
    
    
    1,223.9
    
    
    
    1,246.8
    
    
    
    1,078.2Residential mortgage
    
    
    562.0
    
    
    
    536.9
    
    
    
    455.5
    
    
    
    431.3
    
    
    
    489.6Consumer
    
    
    1,571.6
    
    
    
    1,517.0
    
    
    
    1,438.3
    
    
    
    1,239.6
    
    
    
    1,077.1Secured by
liquid collateral
    
    
    503.5
    
    
    
    547.5
    
    
    
    584.8
    
    
    
    604.7
    
    
    
    605.4Total loans
    
    $
    8,475.8
    
    
    $
    8,094.9
    
    
    $
    7,397.7
    
    
    $
    6,763.0
    
    
    $
    6,225.3
 Declining market interest rates in the second half of the year
limited net interest income growth.
 Regional Banking profitability decreased slightly in 2007.
 Regional Banking profitability
 For the year ended December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Net interest income
    
    $
    342.0
    
    
    $
    334.9
    
    
    $
    303.1Provision for loan losses
    
    
    (24.4
    )
    
    
    (20.5
    )
    
    
    (11.2
    )Noninterest income
    
    
    51.5
    
    
    
    52.1
    
    
    
    51.4Noninterest expense
    
    
    (170.5
    )
    
    
    (157.6
    )
    
    
    (151.0
    )Income before taxes and minority interest
    
    
    198.6
    
    
    
    208.9
    
    
    
    192.3Taxes and minority interest
    
    
    (69.0
    )
    
    
    (73.3
    )
    
    
    (67.8
    )Net income
    
    $
    129.6
    
    
    $
    135.6
    
    
    $
    124.5Efficiency ratio
    
    
    42.95
    %
    
    
    40.33
    %
    
    
    42.19
    %Profit margin
    
    
    57.05
    %
    
    
    59.67
    %
    
    
    57.81
    %
  THE MID-ATLANTIC REGIONAL ECONOMY
 The mid-Atlantic economy is well diversified.
 16     MD&A
    
    Wilmington Trust Corporation




---



##### 



Unemployment rates in the region remained below the national average.
 Delawares population continued to increase. Kiplingers
 Ranking by population growth rates
 For the 12 months ended July 1
    
    2007
    
    
    2006Delaware
    
    
    14
    
    
    
    15Maryland
    
    
    40
    
    
    
    36New Jersey
    
    
    43
    
    
    
    39Pennsylvania
    
    
    41
    
    
    
    37
 Source:
    U.S. Census Bureau Home prices in the region continued to appreciate, and
foreclosure rates reflected the relative stability of the
regional economy.
 Percent of households entering foreclosure
 For the year ended December 31
    
    2007
    
    
    2006United States
    
    
    1.0
    %
    
    
    1.1
    %Within our Regional Banking footprint:Delaware
    
    
    0.3
    
    
    
    0.1Maryland
    
    
    0.8
    
    
    
    0.2New Jersey
    
    
    0.9
    
    
    
    1.2Pennsylvania
    
    
    0.3
    
    
    
    0.7
 Source:
    RealtyTracsU.S. Foreclosure Market Reports for 2007 and 2006  Unemployment rates
 For December
    
    2007
    
    
    2006
    
    
    2005United States
    
    
    5.0
    %
    
    
    4.4
    %
    
    
    4.8
    %Delaware
    
    
    3.8
    
    
    
    3.3
    
    
    
    4.0New Jersey
    
    
    4.5
    
    
    
    4.3
    
    
    
    4.8Pennsylvania
    
    
    4.7
    
    
    
    4.7
    
    
    
    4.8Philadelphia/Camden/
Wilmington
metropolitan area
    
    
    4.1
    1
    
    
    4.4
    
    
    
    4.8Baltimore/Towson
metropolitan area
    
    
    3.6
    
    
    
    3.7
    
    
    
    3.8
 1
    As of November 2007Sources: Federal Reserve Banks of Philadelphia and Richmond 2007 Annual Report
    
    17




---



##### 



Geographic sources of commercial loans
 As of December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Commercial loan
balances
    
    $
    5,838.7
    
    
    $
    5,493.5
    
    
    $
    4,919.1Percent by market:Delaware
    
    
    57
    %
    
    
    58
    %
    
    
    58
    %Pennsylvania
    
    
    27
    
    
    
    27
    
    
    
    27Other markets
    
    
    16
    
    
    
    15
    
    
    
    15
 COMMERCIAL LENDING
 Commercial loan balances rose 8% in 2007 to $5.60 billion, on average.
 Loan growth
 For the year endedDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    Change(in millions,
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.on average)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Commercial,
financial, and
agricultural
    
    $
    2,485.7
    
    
    $
    2,437.4
    
    
    $
    2,462.1
    
    
    
    2
    %
    
    
    (1
    )%Commercial
real estate/construction
    
    
    1,731.9
    
    
    
    1,516.8
    
    
    
    982.3
    
    
    
    14
    %
    
    
    54
    %Commercial
mortgage
    
    
    1,382.2
    
    
    
    1,240.8
    
    
    
    1,229.1
    
    
    
    11
    %
    
    
    1
    %Total commercial loans
    
    $
    5,599.8
    
    
    $
    5,195.0
    
    
    $
    4,673.5
    
    
    
    8
    %
    
    
    11
    %
 Construction loans accounted for most of the commercial loan
growth in 2007 and 2006.
 The pace of growth accelerated in commercial and industrial
(commercial, financial, and agricultural) loans.
 Commercial mortgage balances increased because turmoil in the
credit markets changed the competitive environment.
 Many of our commercial mortgage loans are for income-producing
properties that are leased fully and/or occupied by their owners.
 More than half of our commercial loans were for projects in
Delaware.
 Most of our commercial loan amounts were less than $10 million.
 18     MD&A
    
    Wilmington Trust Corporation




---



##### 



Commercial loans by loan size
 As of December 31
    
    2007
    
    
    2006
    
    
    2005Less than $250,000
    
    
    3
    %
    
    
    3
    %
    
    
    4
    %$250,000 to $1 million
    
    
    11
    
    
    
    12
    
    
    
    13$1 million to $5 million
    
    
    37
    
    
    
    36
    
    
    
    37$5 million to $10 million
    
    
    25
    
    
    
    22
    
    
    
    26$10 million to $20 million
    
    
    18
    
    
    
    20
    
    
    
    14More than $20 million
    
    
    6
    
    
    
    7
    
    
    
    6
 Almost all of our commercial loans have floating rates.
 Maturities and rate sensitivity of commercial loans
 At December 31, 2007
    
    Less than
    
    
    1 through
    
    
    More than
    
    
    Total gross(in millions)
    
    1 year
    
    
    5 years
    
    
    5 years
    
    
    loansCommercial, financial,
and agricultural
    
    $
    1,134.7
    
    
    $
    786.5
    
    
    $
    673.7
    
    
    $
    2,594.9Commercial real
estate/construction
    
    
    115.0
    
    
    
    1,451.3
    
    
    
    214.1
    
    
    
    1,780.4Commercial mortgage
    
    
    3.9
    
    
    
    243.3
    
    
    
    1,216.2
    
    
    
    1,463.4Total
    
    $
    1,253.6
    
    
    $
    2,481.1
    
    
    $
    2,104.0
    
    
    $
    5,838.7Loans with fixed rates
    
    $
    17.1
    
    
    $
    185.6
    
    
    $
    622.6
    
    
    $
    825.3Loans with floating rates
    
    
    1,236.5
    
    
    
    2,295.5
    
    
    
    1,481.4
    
    
    
    5,013.4Total
    
    $
    1,253.6
    
    
    $
    2,481.1
    
    
    $
    2,104.0
    
    
    $
    5,838.7
 CONSTRUCTION LENDING
  We focus on middle-market clients.
 We focus on a specific geographic area.
  Most of our construction loans are for single-family homes.
 Construction loans by geographic location
 At December 31
    
    2007
    
    
    2006Delaware
    
    
    61
    %
    
    
    58
    %Pennsylvania
    
    
    25
    
    
    
    26Maryland
    
    
    7
    
    
    
    8New Jersey
    
    
    4
    
    
    
    6Other
    
    
    3
    
    
    
    2
 Construction loans by project type
 At December 31
    
    2007
    
    
    2006Residential real
estate construction
    
    
    52
    %
    
    
    52
    %Land development
    
    
    21
    
    
    
    18Retail and office
    
    
    14
    
    
    
    13Owner-occupied
    
    
    5
    
    
    
    7Multi-family
    
    
    2
    
    
    
    3Other
    
    
    6
    
    
    
    7
 2007 Annual Report
    
    19




---



##### 



Geographic sources of consumer loans
 As of December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Consumer loan
balances
    
    $
    1,571.6
    
    
    $
    1,517.0
    
    
    $
    1,438.3Percent by market:Delaware
    
    
    73
    %
    
    
    78
    %
    
    
    81
    %Pennsylvania
    
    
    9
    
    
    
    7
    
    
    
    6Other markets
    
    
    18
    
    
    
    15
    
    
    
    13
 We apply our loan underwriting standards consistently.
 Construction loan underwriting standards
 Maximum term:
    
    Two years on unimproved land
Three years on development loansTarget loan size:
    
    $1 million to $10 millionMaximum loan-to-value requirements:
    
    65% on unimproved land
75% on land development
80% on residential construction and income-producing propertiesConstruction limits on
residential projects:
    
    Pre-sold inventory plus a maximum of
six unsold single-family homes or 10 unsold town homes
  CONSUMER LENDING
 Consumer loan balances rose in 2007, but at a slower pace than in 2006.
 Consumer loans
 For the year endedDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    Change(in millions,
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.on average)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Indirect
    
    $
    708.8
    
    
    $
    657.3
    
    
    $
    605.1
    
    
    
    8
    %
    
    
    9
    %Home equity lines
of credit
    
    
    302.4
    
    
    
    321.9
    
    
    
    323.3
    
    
    
    (6
    )%
    
    
    
    %Credit card
    
    
    64.6
    
    
    
    60.9
    
    
    
    59.0
    
    
    
    6
    %
    
    
    3
    %Other consumer
    
    
    450.8
    
    
    
    418.1
    
    
    
    341.9
    
    
    
    8
    %
    
    
    22
    %Total consumer loans
    
    $
    1,526.6
    
    
    $
    1,458.2
    
    
    $
    1,329.3
    
    
    
    5
    %
    
    
    10
    %
 The increase in indirect loan balances resulted from our
expansion in Maryland, New Jersey, and Pennsylvania.
 20     MD&A
    
    Wilmington Trust Corporation




---



##### 



RESIDENTIAL MORTGAGE LENDING
    
    
    We sell most of the fixed rate residential mortgages we
originate into the secondary market, instead of recording
them on our balance sheet. For more information about this,
see the interest rate risk discussion in this report.
 
    
    Origination volumes include refinancings.
 
    
    Origination volumes do not include the CRA loans we purchase.
 Residential mortgage loan activity
 For the year ended
    
    
    
    
    
    
    
    
    
    
    
    
    
    ChangeDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Number of residential
mortgages
originated
    
    
    869
    
    
    
    972
    
    
    
    1,077
    
    
    
    (11
    )%
    
    
    (10
    )%Residential mortgage
origination volumes
    
    $
    206.3
    
    
    $
    225.5
    
    
    $
    221.0
    
    
    
    (9
    )%
    
    
    2
    %Residential mortgage
balances,
on average
    
    $
    556.3
    
    
    $
    495.2
    
    
    $
    438.6
    
    
    
    12
    %
    
    
    13
    %Percentage of
residential
mortgages
originated at
fixed rates
    
    74
    %
    
    
    80
    %
    
    
    78
    %
   
    
    No subprime loans.
 
    
    One interest-only loan.
 
    
    No option adjustable rate
mortgages, negatively
amortizing adjustable rate
mortgages, or other types of
nontraditional mortgages.
 2007 Annual Report
    
    21




---



##### 



Geographic sources of deposits
 As of December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Core deposit
balances
    
    $
    5,465.5
    
    
    $
    5,275.0
    
    
    $
    5,060.6Percent by
market:Delaware
    
    
    87
    %
    
    
    94
    %
    
    
    94
    %Pennsylvania
    
    
    5
    
    
    
    5
    
    
    
    5Other markets
    
    
    8
    
    
    
    1
    
    
    
    1
 Average daily composition
of deposit balances
 For the yearended December 31
    
    2007
    
    
    2006
    
    
    2005Savings
    
    
    5.34
    %
    
    
    3.51
    %
    
    
    4.16
    %Interest-bearing
demand
    
    
    25.61
    
    
    
    26.64
    
    
    
    27.82Certificates of
deposits
    
    
    44.60
    
    
    
    48.50
    
    
    
    42.66Short-term
borrowings
    
    
    16.74
    
    
    
    12.80
    
    
    
    13.38Demand deposits
    
    
    7.71
    
    
    
    8.55
    
    
    
    11.98
 Local CDs 3 $100,000 by type of client
 As of December 31
    
    2007
    
    
    2006Consumer banking clients
in Delaware
    
    
    68
    %
    
    
    74
    %Commercial banking clients
in Delaware
    
    
    9
    
    
    
    11Commercial banking clients
in Pennsylvania
    
    
    10
    
    
    
    8Wealth Advisory Services clients
    
    
    13
    
    
    
    7
 DEPOSIT-TAKING
  
    
    Core deposits, which are deposits from clients. These deposits include
noninterest-bearing demand deposits, interest-bearing demand deposits, savings deposits,
and certificates of deposit (CDs). We record two categories of CDs in core deposits: CDs
in amounts less than $100,000 and CDs that total $100,000 or more.
    
    National CDs of $100,000 and more. These deposits are not associated with clients. We
purchase these deposits through brokers or on a wholesale basis from money center banks.
For more information on our use of national CDs, read the funding discussion in this
report.
  WTDirect generated most of the 2007 increase in savings deposits and total core deposits.
 Core deposits
 For the year endedDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    Change(in millions,
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.on average)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Noninterest-bearing
demand deposits
    
    $
    722.4
    
    
    $
    759.1
    
    
    $
    992.0
    
    
    
    (5
    )%
    
    
    (23
    )%Savings deposits
    
    
    500.1
    
    
    
    311.4
    
    
    
    344.9
    
    
    
    61
    %
    
    
    (10
    )%Interest-bearing
demand deposits
    
    
    2,400.2
    
    
    
    2,365.1
    
    
    
    2,303.8
    
    
    
    1
    %
    
    
    3
    %CDs < $100,000
    
    
    1,010.1
    
    
    
    979.4
    
    
    
    824.4
    
    
    
    3
    %
    
    
    19
    %Local CDs 3 $100,000
    
    
    412.7
    
    
    
    521.7
    
    
    
    401.5
    
    
    
    (21
    )%
    
    
    30
    %Total core deposits
    
    $
    5,045.5
    
    
    $
    4,936.7
    
    
    $
    4,866.6
    
    
    
    2
    %
    
    
    1
    %
 Account sweeps contributed to the decrease between 2005 and 2006 in noninterest-bearing demand
deposits.
 Most core deposits continued to come from clients in Delaware.
 Most local CDs in amounts of $100,000 or more were from consumer banking clients in Delaware.
  22       MD&A
    
    Wilmington Trust Corporation




---



##### 



CORPORATE CLIENT SERVICES
 OVERVIEW
  
    
    Use capital markets financing structures.
    
    Seek to establish and maintain legal residency (nexus) for special purpose entities
in preferred jurisdictions.
    
    Use independent trustees to hold retirement plan assets.
    
    Need investment and cash management services.
 Capital markets services
 Entity management services
 Retirement services
 Institutional investment and cash management services
  COMPETITIVE ADVANTAGES
 Conflict-free.
 Credibility.
 Market presence.
 Superior service.
  
    
    Have credit risk exposure to large capital markets transactions.
    
    Own the assets or entities for which we serve as trustee or administrator.
    
    Record these assets on our balance sheet.
    
    Consolidate these entities.
    
    Issue, underwrite, set pricing, or establish valuations for the financing structures
we support.
   2007 Annual Report
    
    23




---



##### 



CORPORATE CLIENT SERVICES TOTAL REVENUE
 
 HOW WE REPORT CCS REVENUE
     2007 HIGHLIGHTS
  
    
    The investments we have made in recent years to expand geographically and develop new
capabilities generated additional business.
    
    We continued to win contracts amid the near-absence of capital markets activity in
the second half of the year.
    
    We sold more institutional investment and cash management services.
 Corporate Client Services revenue
 For the year ended
    
    
    
    
    
    
    
    
    
    
    
    
    
    ChangeDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Capital markets
    
    $
    42.9
    
    
    $
    37.0
    
    
    $
    34.3
    
    
    
    16
    %
    
    
    8
    %Entity management
    
    
    30.0
    
    
    
    26.8
    
    
    
    23.6
    
    
    
    12
    %
    
    
    14
    %Retirement services
    
    
    12.9
    
    
    
    11.5
    
    
    
    10.7
    
    
    
    12
    %
    
    
    7
    %Investment and
cash management
    
    
    12.8
    
    
    
    10.3
    
    
    
    7.7
    
    
    
    24
    %
    
    
    34
    %Total Corporate
Client Services
revenue
    
    $
    98.6
    
    
    $
    85.6
    
    
    $
    76.3
    
    
    
    15
    %
    
    
    12
    %
 We prevailed against seesawing capital markets activity. Debt Capital Markets Review
 24       MD&A
    
    Wilmington Trust Corporation




---



##### 



Tender
option bond (TOB) services contributed to capital markets
revenue growth. SM
 Our scope of services helped offset a slowdown in the asset-backed securitization (ABS) market.
 We gained momentum in the market for collateralized debt obligations (CDOs).
 We had minimal exposure to the subprime loan problems that wreaked havoc in the credit markets.
 We expanded in Europe by acquiring a service provider in Luxembourg.
 Business development in Europe drove the 12% increase in revenue from entity management services.
  
 2007 Annual Report
    
    25




---



##### 



OUR ROLE IN THE CDO MARKET
 We provide administrative services for CDO issuers, note holders, and asset managers.
 We implement operational controls and provide reports that help clients manage the complexity of
each issue.
 Our duties are specified by the CDOs governing documents.
 We do not:
 
    
    Issue or underwrite CDOs.
    
    Establish pricing or valuations of CDO assets or liabilities.
    
    Take positions in CDOs.
    
    Extend credit to parties in CDO transactions.
 Demand for services that support defined contribution and executive compensation plans contributed
to the 12% growth in retirement services revenue.
 Fees from institutional investment and cash management services were the fastest-growing component
of CCS revenue.
 We opened a small office in Bloomington, Minnesota.
 CCS expense growth outpaced revenue growth in 2007.
 
    
    The Luxembourg acquisition.
    
    Additional investments in CDO capabilities. In addition, 2007 reflected a full year
of CDO-related expenses, while there were only two months of associated expenses in 2006.
 Corporate Client Services profitability
 For the year ended December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Net interest income
    
    $
    13.7
    
    
    $
    15.0
    
    
    $
    11.4Provision for loan losses
    
    
    
    
    
    
    
    
    
    
    Noninterest income
    
    
    104.0
    
    
    
    90.4
    
    
    
    81.3Noninterest expense
    
    
    (85.4
    )
    
    
    (75.6
    )
    
    
    (67.4
    )Income before taxes and minority interest
    
    
    32.3
    
    
    
    29.8
    
    
    
    25.3Taxes and minority interest
    
    
    (11.5
    )
    
    
    (9.9
    )
    
    
    (9.1
    )Net income
    
    $
    20.8
    
    
    $
    19.9
    
    
    $
    16.2Efficiency ratio
    
    
    72.43
    %
    
    
    71.59
    %
    
    
    72.55
    %Profit margin
    
    
    27.57
    %
    
    
    28.41
    %
    
    
    27.45
    %
  
    
    The operating leverage we gained from expansion investments in Europe and the Grand
Cayman acquisition.
    
    Higher revenue from institutional investment and cash management services.
  26       MD&A
    
    Wilmington Trust Corporation




---



##### 



WEALTH ADVISORY SERVICES
  OVERVIEW
  Asset management.
 Family office services.
 Fiduciary services.
 HOW WE REPORT WAS REVENUE
    COMPETITIVE ADVANTAGES
 100+ years of experience.
 Holistic approach.
 Objective investment advice.
 In-depth knowledge of Delawares legal and tax advantages.
 Reputation.
 Long-term relationships.
   2007 Annual Report
    
    27




---



##### 



WEALTH ADVISORY SERVICES REVENUE
 
  
      
    
    Changes in managed asset levels do not necessarily reflect the gain or loss of
business. Most of the assets we manage for clients are held in trusts. Trust asset levels
are affected not just by business development and financial market fluctuations, but also
by fund distributions from trusts for tax payments, philanthropic obligations,
discretionary spending, trust terminations, and other purposes.
    
    Asset management is only one of the wealth management services we offer. Only the
portion of WAS revenue that we record as trust and investment advisory revenue is based on
asset valuations.
    
    WAS trust and investment advisory revenue includes fees we receive for direction
trust services, but the assets under management and administration amounts we report do
not include direction trust assets.
 2007 HIGHLIGHTS
  
    
    The services we have added, the new markets we have entered, and the staff we have
hired in recent years produced higher volumes of business.
    
    The family office business grew significantly.
    
    We acquired an investment consulting firm in Boston.
 Wealth Advisory Services revenue
 For the year ended
    
    
    
    
    
    
    
    
    
    
    
    
    
    ChangeDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2006
    
    
    2005Trust and investment
advisory fees
    
    $
    158.6
    
    
    $
    136.5
    
    
    $
    123.9
    
    
    
    16
    %
    
    
    10
    %Planning and other
services fees
    
    
    40.1
    
    
    
    35.3
    
    
    
    30.4
    
    
    
    14
    %
    
    
    16
    %Mutual fund fees
    
    
    21.4
    
    
    
    20.2
    
    
    
    17.8
    
    
    
    6
    %
    
    
    13
    %Total Wealth Advisory
Services revenue
    
    $
    220.1
    
    
    $
    192.0
    
    
    $
    172.1
    
    
    
    15
    %
    
    
    12
    %
 28       MD&A
    
    Wilmington Trust Corporation




---



##### 



Revenue growth reflected the return on expansion investments we have made in recent years.
 We added Boston to the list of markets in which we have a physical presence.
 The 16% increase in trust and investment advisory revenue illustrated the strength of our business
development efforts and effectiveness of our asset allocation strategies.
 Family office services drove the 14% increase in revenue from planning and other services.
 WAS profitability was lower than for 2006.
 
    
    Expense growth outpaced revenue growth as we invested for future growth. Our major
investment in 2007 was the Boston acquisition. In 2006, it was the expansion of family
office services.
    
    The amount of the loan loss provision allocated to WAS increased.
 Weath Advisory Services profitability
 For the year ended December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Net interest income
    
    $
    25.3
    
    
    $
    25.7
    
    
    $
    24.1Provision for loan losses
    
    
    (3.8
    )
    
    
    (0.8
    )
    
    
    (0.6
    )Noninterest income
    
    
    209.6
    
    
    
    184.0
    
    
    
    163.8Noninterest expense
    
    
    (188.2
    )
    
    
    (166.0
    )
    
    
    (151.7
    )Income before taxes and minority interest
    
    
    42.9
    
    
    
    42.9
    
    
    
    35.6Taxes and minority interest
    
    
    (15.4
    )
    
    
    (15.2
    )
    
    
    (12.0
    )Net income
    
    $
    27.5
    
    
    $
    27.7
    
    
    $
    23.6Efficiency ratio
    
    
    80.05
    %
    
    
    79.05
    %
    
    
    80.61
    %Profit margin
    
    
    19.95
    %
    
    
    20.95
    %
    
    
    19.39
    %
  2007 Annual Report
    
    29




---



##### 



Investment mix of AUM at Wilmington Trust 1
 At December 31
    
    2007
    
    
    2006
    
    
    2005Equities
    
    
    47
    %
    
    
    47
    %
    
    
    56
    %Fixed income
    
    
    23
    %
    
    
    27
    %
    
    
    23
    %Other assets
    
    
    30
    %
    
    
    26
    %
    
    
    21
    %
 
 1
    
    Excludes CRM and RCM. ASSETS UNDER MANAGEMENT AND ADMINISTRATION
   
    
    Asset management is only one of the wealth management services we offer.
    
    We record three categories of WAS revenue. Only the revenue we record as trust and
investment advisory revenue is based on asset valuations.
    
    WAS revenue includes fees we receive for direction trust services, but direction
trust assets are not counted in our AUM or AUA. Direction trusts, which are permitted in
some states, allow clients to use different institutions for fiduciary and asset
management services.
    
    In the CCS business, except for revenue from investment and cash management services,
the majority of revenue is generated on a fee-for-service basis regardless of the value of
any associated asset.
    
    Monetary assets we manage or administer for CCS clients can fluctuate by hundreds of
millions of dollars from one reporting period to the next, depending on the cash
management needs of these clients.
 Client assets at Wilmington Trust 1
 At December 31 (in billions)
    
    2007
    
    
    2006
    
    
    2005Assets under management
    
    $
    35.9
    
    
    $
    31.3
    
    
    $
    27.9Assets under administration
    
    $
    88.4
    
    
    $
    76.2
    
    
    $
    74.9Total client assets at Wilmington Trust
    
    $
    124.3
    
    
    $
    107.5
    
    
    $
    102.8
 
 1
    
    Excludes CRM and RCM. Includes estimates of asset
values that are not readily available, such as those held in
limited partnerships.  30       MD&A
    
    Wilmington Trust Corporation




---



##### 



AFFILIATE MONEY MANAGERS
  
    
    Cramer Rosenthal McGlynn (CRM), a value-style manager based in New York.
    
    Roxbury Capital Management (RCM), a growth-style manager based in Santa Monica,
California.
  Assets under management
 At December 31 (in billions)
    
    2007
    
    
    2006
    
    
    2005Wilmington Trust1
    
    $
    35.9
    
    
    $
    31.3
    
    
    $
    27.9Cramer Rosenthal McGlynn
    
    
    11.4
    
    
    
    10.6
    
    
    
    8.9Roxbury Capital Management
    
    
    2.5
    
    
    
    3.1
    
    
    
    3.3Combined assets under management
    
    $
    49.8
    
    
    $
    45.0
    
    
    $
    40.1
 
 1
    
    Includes estimates of asset values that are not
readily available, such as those held in limited partnerships.  Revenue from affiliate money managers for the year
 (In millions, net of expenses)
    
    2007
    
    
    2006
    
    
    2005Total revenue from affiliate money managers
    
    $
    21.9
    
    
    $
    20.5
    
    
    $
    17.5
  REVENUE FROM AFFILIATE MONEY MANAGERS
 
 2007 Annual Report
    
    31




---



##### 



CRM ASSETS UNDER MANAGEMENT
 
 RCM ASSETS UNDER MANAGEMENT
 
  Cramer Rosenthal McGlynn
 (As of and for the yearended December 31)
    
    2007
    
    
    2006
    
    
    2005Assets under management (in millions)
    
    $
    11,417.3
    
    
    $
    10,623.8
    
    
    $
    8,899.0Revenue (in millions, net of expenses)
    
    $
    20.7
    
    
    $
    19.3
    
    
    $
    16.1Wilmington Trusts ownership position
    
    
    82.41
    %
    
    
    81.73
    %
    
    
    77.24
    %
   Roxbury Capital Management
 (As of and for the yearended December 31)
    
    2007
    
    
    2006
    
    
    2005Assets under management (in millions)
    
    $
    2,466.0
    
    
    $
    3,138.1
    
    
    $
    3,287.3Revenue (in millions, net of expenses)
    
    $
    1.2
    
    
    $
    1.2
    
    
    $
    1.4Wilmington Trusts ownership positionOwnership of preferred profits
    
    
    30
    %
    
    
    30
    %
    
    
    30
    %Ownership of common interests
    
    
    41.23
    %
    
    
    41.23
    %
    
    
    41.23
    %
    32       MD&A
    
    Wilmington Trust Corporation




---



##### 



CAPITAL RESOURCES
  UBPR Users Guide
  CAPITAL MANAGEMENT IN 2007
 We continued to increase the cash dividend and invest in growth opportunities, and our capital
position remained strong.
    2007 Annual Report
    
    33




---



##### 



Source: Mergent, Inc.s
 Capital strength
 As of and for the year endedDecember 31
    
    
    
    
    
    2006(dollars in millions,
    
    
    
    
    
    With
    
    
    Withoutexcept per share amounts)
    
    2007
    
    
    impairment
    
    
    impairment
    
    
    2005Net income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    185.5
    
    
    $
    167.0Stockholders equity (period end)
    
    $
    1,120.3
    
    
    $
    1,059.3
    
    
    $
    1,101.0
    
    
    $
    1,017.7Stockholders equity (on average)
    
    $
    1,091.0
    
    
    $
    1,059.1
    
    
    $
    1,069.7
    
    
    $
    949.3Return on average
stockholders equity
    
    
    16.68
    %
    
    
    13.58
    %
    
    
    17.34
    %
    
    
    17.59
    %Return on average assets
    
    
    1.65
    %
    
    
    1.37
    %
    
    
    1.76
    %
    
    
    1.70
    %Capital generation ratio1
    
    
    8.69
    %
    
    
    5.77
    %
    
    
    9.87
    %
    
    
    9.54
    %Average equity to average assets
    
    
    9.92
    %
    
    
    10.09
    %
    
    
    10.17
    %
    
    
    9.68
    %Dividends paid per share
    
    $
    1.32
    
    
    $
    1.245
    
    
    $
    1.245
    
    
    $
    1.185Cost of dividends paid
    
    $
    89.9
    
    
    $
    85.1
    
    
    $
    85.1
    
    
    $
    80.2Dividend payout ratio
    
    
    49.40
    %
    
    
    59.18
    %
    
    
    45.88
    %
    
    
    48.02
    %
 
 1
    
    To calculate the capital generation ratio, we divided
net income, less dividends paid, by the amount of
stockholders equity at the end of the prior year. Net income and capital growth rates on a reported basis
 (Percentage change
    
    2007
    
    
    2006
    
    
    2005as of December 31)
    
    vs. 2006
    
    
    vs. 2005
    
    
    vs. 2004Growth in net income
    
    
    27
    %
    
    
    (14
    )%
    
    
    22
    %Growth in net income, less cash dividends paid
    
    
    57
    %
    
    
    (32
    )%
    
    
    40
    %Growth in stockholders equity (period end)
    
    
    6
    %
    
    
    4
    %
    
    
    12
    %Growth in stockholders equity (on average)
    
    
    3
    %
    
    
    12
    %
    
    
    11
    %
 Net income and capital growth rates on an operating basis
 (Percentage change
    
    2007
    
    
    2006
    
    
    2005as of December 31)
    
    vs. 2006
    
    
    vs. 2005
    
    
    vs. 2004Growth in net income
    
    
    (2
    )%
    
    
    11
    %
    
    
    22
    %Growth in net income, less cash dividends paid
    
    
    (8
    )%
    
    
    16
    %
    
    
    40
    %Growth in stockholders equity (period end)
    
    
    2
    %
    
    
    8
    %
    
    
    12
    %Growth in stockholders equity (on average)
    
    
    2
    %
    
    
    13
    %
    
    
    11
    %
 We raised our cash dividend for the 26th consecutive year.
 As capital levels rose, we repurchased more shares.
 34       MD&A
    
    Wilmington Trust Corporation




---



##### 



Share repurchases
 For the year ended December 31
    
    2007
    
    
    2006
    
    
    2005Number of shares repurchased
    
    
    2,000,000
    
    
    
    500,000
    
    
    
    Average price per share repurchased
    
    $
    39.60
    
    
    $
    44.14
    
    
    $
    Total cost of shares repurchased (in millions)
    
    $
    79.2
    
    
    $
    22.1
    
    
    $
    Shares available for repurchase at year-end
    
    
    4,956,204
    
    
    
    6,956,204
    
    
    
    7,456,204
 Our capital ratios have exceeded the minimum guidelines for well- capitalized institutions every
year since regulators established the minimums in 1984.
 Regulatory capital ratios
 Minimumto be
    
    
    Minimumadequately
    
    
    to be wellAt December 31
    
    2007
    
    
    2006
    
    
    2005
    
    
    capitalized
    
    
    capitalizedTotal risk-based capital
    
    
    11.21
    %
    
    
    12.10
    %
    
    
    11.84
    %
    
    
    8
    %
    
    
    10
    %Tier 1 risk-based capital
    
    
    7.73
    %
    
    
    8.25
    %
    
    
    7.43
    %
    
    
    4
    %
    
    
    6
    %Tier 1 leverage capital
    
    
    7.18
    %
    
    
    7.39
    %
    
    
    6.69
    %
    
    
    4
    %
    
    
    5
    %
  LIQUIDITY AND FUNDING
  
    
    Are well capitalized, as evidenced by our capital ratios.
    
    Have access to diverse sources of funding. These sources include deposits, short- and
long-term borrowings, cash flow from our loan and investment securities portfolios,
stockholders equity, and other types of credit facilities, such as long-term debt. Having
these varied funding sources mitigates our liquidity risk and gives us the ability to
adjust the mix and amount of funding we use as we deem appropriate.
    
    Have favorable credit ratings from Standard & Poors, Moodys Investors Service, and
Fitch Ratings. This is important because lower credit ratings could increase our funding
costs.
   2007 Annual Report
    
    35




---



##### 




    
    Level I.This is the level with the least risk. It indicates a normal operating
environment with no funding pressures. At this level, the sources of funds available to us
are diverse, and we are able to access them immediately at a reasonable cost and at the
maturities we desire.
    
    Level II.This level indicates that funding difficulties could occur due to real or
perceived weakness in earnings, deterioration of asset quality, credit rating downgrades,
damage to our reputation, changes in the economic or business climate, and other internal
and external factors. We would report a Level II scenario to our Board of Directors and
recommend an action plan. Such a plan could include using Federal Home Loan Bank
borrowings to fill funding gaps, selling liquid securities, implementing a communications
plan to clarify market perceptions, and expanding core deposit strategies.
    
    Level III.This level indicates that the current composition of our balance sheet has
created excessive liquidity risk. We would report a Level III scenario to our Board of
Directors and implement a contingency plan. Such a plan could include the actions
recommended in a Level II scenario, restricting the acquisition of additional assets,
restricting additional lending activities, restricting off-balance-sheet commitments, and
selling liquid assets.
  36       MD&A
    
    Wilmington Trust Corporation




---



##### 



LIQUIDITY AND FUNDING IN 2007
 We continued to operate within Level I parameters of our
liquidity risk management policy.
 Our credit ratings remained favorable.
 
    
    In March 2007, Moodys Investors Service upgraded its Bank
Financial Strength Rating of our primary banking subsidiary,
Wilmington Trust Company, to B from C+. Moodys said the
upgrade reflects Wilmingtons strong capital and asset
quality indicators, as well as its contained market risk
appetite, and strong control and risk management. It also
considers Wilmingtons limited geographic diversification
and material credit risk concentration.
 
    
    Fitch Ratings affirmed its ratings of Wilmington Trust
Corporation and Wilmington Trust Company in August 2007.
Fitchs report said, Factors supporting Wilmingtons
ratings include its balanced business mix, good asset
quality, and solid market niches in a number of asset
management businesses.
 
    
    Standard & Poors affirmed its ratings of Wilmington Trust
Corporation and Wilmington Trust Company in January 2008. Wilmington Trust Corporation credit ratings
 Moodys
    
    StandardFitch
    
    Investors
    
    &Ratings1
    
    Service2
    
    Poors3Outlook
    
    Stable
    
    Stable
    
    StableIssuer rating (long-term/short-term)
    
    A+/F1
    
    A2/*
    
    A/A2Subordinated debt
    
    A
    
    A3
    
    BBB+
 Wilmington Trust Company credit ratings
 Moodys
    
    StandardFitch
    
    Investors
    
    &Ratings1
    
    Service2
    
    Poors3Outlook
    
    Stable
    
    Stable
    
    StableBank financial strength
    
    A/B
    
    B
    
    *Issuer rating (long-term/short-term)
    
    A+/F1
    
    A1
    
    A/A1Bank deposits (long-term/short-term)
    
    AA/F1+
    
    A1/P1
    
    A/A1
 
 *
    
    No rating in this category1
    
    As of August 20072
    
    As of March 20073
    
    As of January 2008  2007 Annual Report
  
  37




---



##### 



Funding sources
 As a percentageof daily averagebalances
    
    2007
    
    2006
    
    2005Core deposits:Noninterest-bearing
demand
    
    
    8
    %
    
    
    9
    %
    
    
    12
    %Savings
    
    
    5
    
    
    
    3
    
    
    
    4Interest-bearing
demand
    
    
    26
    
    
    
    27
    
    
    
    28CDs
    
    
    15
    
    
    
    17
    
    
    
    15Total core deposits
    
    
    54
    %
    
    
    56
    %
    
    
    59
    %National funding:National CDs
3 $100,000
    
    
    30
    %
    
    
    31
    %
    
    
    28
    %Short-term
borrowings
    
    
    16
    1
    
    
    13
    
    
    
    13Total national funding
    
    
    46
    %
    
    
    44
    %
    
    
    41
    %
 
 1
    
    Excluding  debt maturing in 2008. Our sources of liquidity remained diversified.
 
    
    Core deposit balances of $5.47 billion.
 
    
    National CDs 3 $100,000 of $2.39 billion.
 
    
    Short-term borrowings of $1.99 billion.
 
    
    Long-term debt of $267.8 million.
 
    
    Stockholders equity of $1.12 billion.
 
    
    Investment securities of $1.87 billion.
 
    
    Borrowing capacity of $85.0 million from lines of credit
with U.S. financial institutions.
 
    
    Borrowing capacity secured with collateral from the Federal
Home Loan Bank (FHLB) of Pittsburgh, of which Wilmington
Trust Company and Wilmington Trust of Pennsylvania are
members. As of September 30, 2007, our FHLB borrowing
capacity was $445.0 million. The FHLB adjusts our borrowing
capacity on a quarterly basis, but its adjustment
calculations for December 31, 2007, were not available as of
the filing date of this report (February 29, 2008).
   Core deposits continued to be our primary source of funding.
 We use national funding because there is a disparity between loan
growth and core deposit growth inherent in our Regional Banking
business model.
 National funding helps us curb expense growth.
 38     MD&A
  
  Wilmington Trust Corporation




---



##### 



National funding helps us manage interest rate risk.
 INVESTMENT SECURITIES PORTFOLIO
  On average, the size of the portfolio was relatively unchanged
from 2006 and 2005.
 Investment securities portfolio
 As of and forthe year ended
    
    
    
    
    
    
    
    
    
    
    
    
    
    ChangeDecember 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    2007 vs.
    
    
    2006 vs.(in millions)
    
    2007
    
    2006
    
    2005
    
    2006
    
    
    2005Period-end balances
    
    $
    1,869.2
    
    
    $
    2,114.6
    
    
    $
    1,928.8
    
    
    
    (12
    )%
    
    
    10
    %Average balances
    
    $
    1,875.9
    
    
    $
    1,893.1
    
    
    $
    1,876.6
    
    
    
    (1
    )%
    
    
    1
    %Approximate cash
flow generated
    
    $
    479.2
    
    
    $
    302.2
    
    
    $
    387.5
    
    
    
    59
    %
    
    
    (22
    )%Securities
gains, net
    
    $
    0.1
    
    
    $
    0.2
    
    
    $
    0.8
    
    
    
    (50
    )%
    
    
    (75
    )%
   Average life
 At December 31(in years)
    
    2007
    
    2006
    
    2005Mortgage-backed
instruments
    
    
    3.48
    
    
    
    4.10
    
    
    
    4.30Total portfolio
    
    
    4.45
    
    
    
    4.93
    
    
    
    6.14
 Duration
 At December 31(in years)
    
    2007
    
    2006
    
    2005Mortgage-backed
instruments
    
    
    3.20
    
    
    
    3.80
    
    
    
    3.92Total portfolio
    
    
    1.97
    
    
    
    2.24
    
    
    
    2.63
 2007 Annual Report
  
  39




---



##### 



The estimated average life and duration of the portfolio declined in 2007.
 
    
    In the first half of the year, pay downs of mortgage-backed
instruments accelerated due to flatness in the yield curve.
 
    
    In the second half of the year, shifts in the yield curve
and the Federal Reserves reduction of short-term interest
rates led to assumptions that prepayments of mortgage-backed
securities would accelerate.
 The composition of the portfolio shifted slightly on a percentage basis.
 Composition of investment securities portfolio
 At December 31
    
    2007
    
    2006
    
    2005Collateralized mortgage obligations
    
    
    11
    %
    
    
    12
    %
    
    
    18
    %Mortgage-backed securities
    
    
    28
    
    
    
    20
    
    
    
    26Corporate
securities
    
    
    17
    
    
    
    17
    
    
    
    19U.S.
government agencies
    
    
    35
    
    
    
    38
    
    
    
    21U.S. Treasury
    
    
    3
    
    
    
    6
    
    
    
    8Preferred stock
    
    
    2
    
    
    
    4
    
    
    
    5Municipal bonds
    
    
    1
    
    
    
    1
    
    
    
    1Other
    
    
    3
    
    
    
    2
    
    
    
    2Percentage invested in fixed income instruments
    
    
    82
    %
    
    
    82
    %
    
    
    79
    %
 The mortgage-backed securities in the portfolio held no subprime
residential mortgages as underlying collateral.
 The concentration of investments in mortgage-backed instruments
reflects our view of mortgage-related duration and interest rate
risk.
  40     MD&A
  
  Wilmington Trust Corporation




---



##### 



RISK
  Lending money is inherently risky.
 Adverse economic conditions, especially in the mid-Atlantic
region, can increase the degree of repayment risk inherent in our
loan portfolio.
 Market interest rates can affect loan profitability and increase
repayment risk.
 Some of the loans we make carry a higher degree of repayment risk than others.
 Changes in market interest rates, and the pace at which they occur, can affect net interest income.
  
    
    The risk that borrowers will be
unable to repay their loans.
 
    
    The effects of market
interest rates on income.
 
    
    The effects on income of
volatility in the financial
markets.
 
    
    The risk that economic
conditions will affect our
ability to conduct business.
 2007 Annual Report
  
  41




---



##### 




    
    Focus on long-term
relationships, not selling
products.
 
    
    Have extensive knowledge of the
clients and markets we serve.
 
    
    Offer competitive pricing.
 
    
    Attract and retain highly qualified staff.
 
    
    Provide responsive,
personalized, and customized
services.
 
    
    Have the ability to develop and
market new and innovative products
and services.
 
    
    Have the ability to deploy new
technologies that improve
services for clients or achieve
cost efficiencies.
 Volatility in financial markets can affect our noninterest
income.
 The fair market value of instruments in our investment securities
portfolio may fall below the amount at which we purchased them,
and issuers may prepay, revoke, or default on instruments prior
to their scheduled maturities.
 Market interest rates present more risk to us than inflation.
 Circumstances in the mid-Atlantic region, throughout the United
States, and around the world can reduce demand for our services
and negatively affect our ability to conduct business.
 Competition can increase the rates we pay to attract deposits,
reduce the interest rates we can charge on loans, reduce the fees
we charge for services, and affect our ability to retain existing
clients and attract new clients.
 Changes in accounting rules may affect our reported earnings and
operating income.
 Changes in the value of goodwill or intangible assets on our
balance sheet could affect earnings.
 There are risks associated with making acquisitions.
 42     MD&A
  
  Wilmington Trust Corporation




---



##### 



There are risks associated with developing and introducing new
products and services.
 Negative public opinion could damage our reputation.
 Human error, systems failures, fraud, or inadequate internal
controls and procedures could affect our earnings and damage our
reputation.
 We are subject to a variety of legal and regulatory restrictions.
  ASSET QUALITY AND CREDIT RISK
   Assets
  At year
end
    
    2007
    
    2006
    
    2005Percentage in loans
    
    
    74
    %
    
    
    73
    %
    
    
    72
    %Percentage in
investment securities
    
    
    16
    %
    
    
    19
    %
    
    
    19
    %Percentage in other
types of assets
    
    
    10
    %
    
    
    8
    %
    
    
    9
    %
 2007 Annual Report
  
  43




---



##### 




    
    Loans with no current or
potential problems receive
pass ratings.
 
    
    Potentially problematic
loans are watchlisted.
 
    
    Problem credits with some
probability of loss receive
substandard ratings.
 
    
    Problem credits with a high
probability of loss are rated
doubtful.
  CREDIT RISK
To mitigate credit risk, we:
 
    
    Employ rigorous loan underwriting standards and apply them consistently.
 
    
    Prefer to increase loan balances through our own efforts,
using our own underwriting standards, instead of purchasing
loans or acquiring other banks.
 
    
    Make the majority of our loans within Regional Bankings
mid-Atlantic geographic footprint. This region has a stable,
well diversified economy, and we know this area well.
 
    
    Focus on building long-term relationships with clients, not
merely increasing transaction volumes.
 
    
    Maintain a portfolio that is diversified among different
types of commercial and consumer loans.
 
    
    Monitor the portfolio to identify potential problems and to
avoid disproportionately high concentrations in any single
industry sector or to any one borrower.
 
    
    Regularly review all past-due loans, loans not being repaid
according to contractual terms, and loans we doubt will be
paid on a timely basis.
 In addition, we have credit policy and asset review staff who
operate independently of each other.
 We work with borrowers to resolve repayment problems.
 We continue to pursue repayment even after we charge loans off.
 We believe the net charge-off ratio is the most relevant and
revealing measure of credit quality.
 44 MD&A
  
  Wilmington Trust Corporation




---



##### 



CREDIT QUALITY IN 2007 AND 2006
 At 26 basis points, the 2007 net charge-off ratio was at the
lower range of our 10-year experience.
 Other measures of credit quality returned to levels more in line
with what we have experienced historically.
 Elements of credit risk
 At December 31(dollars in millions)
    
    2007
    
    2006
    
    2005
    
    2004
    
    2003Total loans
outstanding
    
    $
    8,475.8
    
    
    $
    8,094.9
    
    
    $
    7,397.7
    
    
    $
    6,763.0
    
    
    $
    6,225.3Net charge-offs
    
    $
    21.3
    
    
    $
    18.5
    
    
    $
    10.1
    
    
    $
    15.8
    
    
    $
    16.9Net charge-off ratio
    
    
    0.26
    %
    
    
    0.24
    %
    
    
    0.14
    %
    
    
    0.24
    %
    
    
    0.28
    %Nonaccruing loans
    
    $
    47.8
    
    
    $
    31.0
    
    
    $
    39.3
    
    
    $
    56.4
    
    
    $
    45.4Renegotiated loans
    
    
    23.7
    
    
    
    
    
    
    
    4.7
    *
    
    
    5.2
    *
    
    
    Loans past due
90 days or more
    
    
    13.7
    
    
    
    5.8
    
    
    
    4.1
    
    
    
    5.5
    
    
    
    5.6Total
    
    $
    85.2
    
    
    $
    36.8
    
    
    $
    48.1
    
    
    $
    67.1
    
    
    $
    51.0Percent of
total loans
    
    
    1.01
    %
    
    
    0.45
    %
    
    
    0.65
    %
    
    
    0.99
    %
    
    
    0.82
    %Other real estate
owned (OREO)
    
    $
    9.1
    
    
    $
    4.8
    
    
    $
    0.2
    
    
    $
    0.2
    
    
    $
    1.4
 
 *
    
    Restructured as nonaccruing. 2007 Annual Report
  
  45




---



##### 



While most of our loan growth in 2007 was in commercial loans,
consumer and other retail loans accounted for the majority of our
2007 net charge-offs.
 Analysis of loan loss reserve and net charge-offs for the year ended December 31
 (Dollars in millions)
    
    2007
    
    2006
    
    2005
    
    2004
    
    2003Loan loss reserve at
start of year
    
    $
    94.2
    
    
    $
    91.4
    
    
    $
    89.7
    
    
    $
    89.9
    
    
    $
    85.2Loans charged off:Commercial
    
    $
    4.3
    
    
    $
    10.8
    
    
    $
    4.9
    
    
    $
    11.0
    
    
    $
    10.9Commercial real
estate/construction
    
    
    2.9
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Commercial mortgage
    
    
    1.3
    
    
    
    0.3
    
    
    
    
    
    
    
    
    
    
    
    Residential mortgage
    
    
    0.1
    
    
    
    
    
    
    
    0.1
    
    
    
    0.1
    
    
    
    0.1Consumer and
other retail
    
    
    20.8
    
    
    
    13.5
    
    
    
    12.2
    
    
    
    10.0
    
    
    
    10.0Total loans charged off
    
    $
    29.4
    
    
    $
    24.6
    
    
    $
    17.2
    
    
    $
    21.1
    
    
    $
    21.0Recoveries on loans
previously charged off:Commercial
    
    $
    1.0
    
    
    $
    0.6
    
    
    $
    3.3
    
    
    $
    1.4
    
    
    $
    1.1Commercial real
estate/construction
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Commercial mortgage
    
    
    0.2
    
    
    
    
    
    
    
    
    
    
    
    0.8
    
    
    
    Residential mortgage
    
    
    
    
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    0.1Consumer and
other retail
    
    
    6.9
    
    
    
    5.4
    
    
    
    3.8
    
    
    
    3.1
    
    
    
    2.9Total recoveries
    
    $
    8.1
    
    
    $
    6.1
    
    
    $
    7.1
    
    
    $
    5.3
    
    
    $
    4.1Net loans charged off:Commercial
    
    $
    3.3
    
    
    $
    10.2
    
    
    $
    1.6
    
    
    $
    9.6
    
    
    $
    9.8Commercial real
estate/construction
    
    
    2.9
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Commercial mortgage
    
    
    1.1
    
    
    
    0.3
    
    
    
    
    
    
    
    (0.8
    )
    
    
    Residential mortgage
    
    
    0.1
    
    
    
    (0.1
    )
    
    
    0.1
    
    
    
    0.1
    
    
    
    Consumer and
other retail
    
    
    13.9
    
    
    
    8.1
    
    
    
    8.4
    
    
    
    6.9
    
    
    
    7.1Total net charge-offs
    
    $
    21.3
    
    
    $
    18.5
    
    
    $
    10.1
    
    
    $
    15.8
    
    
    $
    16.9Provision for loan losses
    
    $
    28.2
    
    
    $
    21.3
    
    
    $
    11.8
    
    
    $
    15.6
    
    
    $
    21.6Loan loss reserve at
year end
    
    $
    101.1
    
    
    $
    94.2
    
    
    $
    91.4
    
    
    $
    89.7
    
    
    $
    89.9Net charge-off ratio
    
    
    0.26
    %
    
    
    0.24
    %
    
    
    0.14
    %
    
    
    0.24
    %
    
    
    0.28
    %
  46     MD&A
  
  Wilmington Trust Corporation




---



##### 



A clients bankruptcy contributed to 2007 net charge-offs and
nonperforming loans.
 Other contributors to the 2007 increase in nonaccruing loans were:
 
    
    A commercial loan of approximately $8.4 million for a hotel
project in Ocean City, Maryland. This hotel has operated
successfully for some time, but some of the borrowers other
enterprises have created cash flow difficulties. This loan is
among our serious doubt loans.
    
    A construction loan for a residential housing development
in Montgomery County, Pennsylvania. This borrower
experienced serious health problems in 2007.
    
    Indirect auto loans in the consumer loan portfolio.
  Three loans accounted for the 2007 increase in renegotiated loans.
 Nonperforming loans
 At December 31 (dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Nonaccruing loans:Commercial, financial, and agricultural
    
    $
    18.7
    
    
    $
    13.7
    
    
    $
    22.4Commercial real estate/construction
    
    
    9.9
    
    
    
    
    
    
    
    Commercial mortgage
    
    
    7.1
    
    
    
    8.5
    
    
    
    9.7Residential mortgage
    
    
    4.0
    
    
    
    4.1
    
    
    
    4.3Consumer and other retail
    
    
    8.1
    
    
    
    4.7
    
    
    
    2.9Total nonaccruing loans
    
    $
    47.8
    
    
    $
    31.0
    
    
    $
    39.3Other real estate owned (OREO)
    
    
    9.1
    
    
    
    4.8
    
    
    
    0.2Renegotiated loans
    
    
    23.7
    
    
    
    
    
    
    
    4.7Total nonperforming loans
    
    $
    80.6
    
    
    $
    35.8
    
    
    $
    44.2Ratio of nonaccruing loans to
total loans outstanding
    
    
    0.56
    %
    
    
    0.38
    %
    
    
    0.53
    %Ratio of total nonperforming loans to
total loans outstanding
    
    
    0.95
    %
    
    
    0.44
    %
    
    
    0.60
    %
 2007 Annual Report
    
    47




---



##### 



Risk rating classifications
 At December 31
    
    2007
    
    
    2006
    
    
    2005Pass
    
    
    96.03
    %
    
    
    97.39
    %
    
    
    97.24
    %Watchlisted
    
    
    2.69
    %
    
    
    1.82
    %
    
    
    1.96
    %Substandard
    
    
    1.27
    %
    
    
    0.79
    %
    
    
    0.73
    %Doubtful
    
    
    0.01
    %
    
    
    
    %
    
    
    0.07
    %
 Consumer and other retail loans accounted for most of the 2007
increase in loans past due 90 days or more.
 Loans past due 90 days or more
 At December 31 (dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Commercial, financial, and agricultural
    
    $
    2.4
    
    
    $
    1.5
    
    
    $
    1.3Commercial real estate/construction
    
    
    0.7
    
    
    
    
    
    
    
    Commercial mortgage
    
    
    1.3
    
    
    
    0.2
    
    
    
    0.2Residential mortgage
    
    
    2.5
    
    
    
    1.1
    
    
    
    1.4Consumer and other retail
    
    
    6.8
    
    
    
    3.0
    
    
    
    1.2Total loans past due 90 days or more
    
    $
    13.7
    
    
    $
    5.8
    
    
    $
    4.1Ratio of loans past due 90 days to
total loans outstanding
    
    
    0.16
    %
    
    
    0.07
    %
    
    
    0.05
    %
 On a percentage basis, the composition of the loan portfolio
remained well diversified and relatively unchanged.
 Loan portfolio composition
 At December 31
    
    2007
    
    
    2006
    
    
    2005Commercial, financial, and agricultural
    
    
    31
    %
    
    
    31
    %
    
    
    34
    %Commercial real estate/construction
    
    
    21
    
    
    
    21
    
    
    
    16Commercial mortgage
    
    
    17
    
    
    
    16
    
    
    
    17Residential mortgages
    
    
    6
    
    
    
    6
    
    
    
    6Consumer:Home equity lines of credit
    
    
    4
    
    
    
    4
    
    
    
    4Indirect
    
    
    9
    
    
    
    9
    
    
    
    9Credit card
    
    
    1
    
    
    
    1
    
    
    
    1Other consumer (including home equity loans)
    
    
    5
    
    
    
    5
    
    
    
    5Secured by liquid collateral
    
    
    6
    
    
    
    7
    
    
    
    8
 More than 96% of total loans outstanding had pass ratings in the
risk classification system.
 48      MD&A
    
    Wilmington Trust Corporation




---



##### 



Serious-doubt loans were 24% lower at the end of 2007 than at the
end of 2006.
 Serious-doubt loans
 At December 31 (dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Commercial, financial, and agricultural
    
    $
    11.3
    
    
    $
    13.4
    
    
    $
    3.9Commercial real estate/construction
    
    
    
    
    
    
    1.4
    
    
    
    Commercial mortgage
    
    
    
    
    
    
    1.0
    
    
    
    Residential mortgage
    
    
    
    
    
    
    
    
    
    
    Consumer and other retail
    
    
    
    
    
    
    
    
    
    
    Contingency allocation
    
    
    3.0
    
    
    
    3.0
    
    
    
    3.0Total serious-doubt loans
    
    $
    14.3
    
    
    $
    18.8
    
    
    $
    6.9Ratio of serious-doubt loans to
total loans outstanding
    
    
    0.17
    %
    
    
    0.23
    %
    
    
    0.09
    %
 Higher net charge-offs, higher levels of nonperforming loans, and
the risk classification downgrades caused the 2007 increases in
the provision and reserve for loan losses.
 Provision and reserve for loan losses
 (Dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Provision for loan losses for
the year ended December 31
    
    $
    28.2
    
    
    $
    21.3
    
    
    $
    11.8Reserve for loan losses at December 31
    
    $
    101.1
    
    
    $
    94.2
    
    
    $
    91.4Loan loss reserve ratio
    
    
    1.19
    %
    
    
    1.16
    %
    
    
    1.24
    %
 2007 Annual Report
    
    49




---



##### 



Loan loss reserve allocation in dollars
 At December 31(in millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004
    
    
    2003Commercial, financial,
and agricultural
    
    $
    33.7
    
    
    $
    36.3
    
    
    $
    38.5
    
    
    $
    43.4
    
    
    $
    45.2Real estate/construction
    
    
    25.7
    
    
    
    19.2
    
    
    
    12.7
    
    
    
    7.8
    
    
    
    7.2Commercial mortgage
    
    
    15.9
    
    
    
    14.5
    
    
    
    15.4
    
    
    
    14.8
    
    
    
    14.3Residential mortgage
    
    
    1.4
    
    
    
    1.3
    
    
    
    1.3
    
    
    
    1.2
    
    
    
    1.2Consumer
    
    
    13.4
    
    
    
    11.3
    
    
    
    11.2
    
    
    
    10.4
    
    
    
    9.8Secured by
liquid collateral
    
    
    4.9
    
    
    
    5.5
    
    
    
    6.2
    
    
    
    6.0
    
    
    
    6.1Unallocated
    
    
    6.1
    
    
    
    6.1
    
    
    
    6.1
    
    
    
    6.1
    
    
    
    6.1Total
    
    $
    101.1
    
    
    $
    94.2
    
    
    $
    91.4
    
    
    $
    89.7
    
    
    $
    89.9
 Loan loss reserve allocation by percentage
 At December 31
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004
    
    
    2003Commercial, financial,
and agricultural
    
    
    31
    %
    
    
    31
    %
    
    
    33
    %
    
    
    37
    %
    
    
    37
    %Real estate/construction
    
    
    21
    
    
    
    21
    
    
    
    17
    
    
    
    11
    
    
    
    11Commercial mortgage
    
    
    17
    
    
    
    16
    
    
    
    17
    
    
    
    19
    
    
    
    17Residential mortgage
    
    
    6
    
    
    
    6
    
    
    
    6
    
    
    
    6
    
    
    
    8Consumer
    
    
    19
    
    
    
    19
    
    
    
    19
    
    
    
    18
    
    
    
    17Secured by
liquid collateral
    
    
    6
    
    
    
    7
    
    
    
    8
    
    
    
    9
    
    
    
    10Unallocated
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
   50     MD&A
    
    Wilmington Trust Corporation




---



##### 



INTEREST RATE RISK
  
    
    Maintaining a mix of assets and liabilities that gives us
flexibility in a dynamic market place.We want loans to
comprise the majority of our assets and deposits to comprise
the majority of our liabilities.
    
    Managing the relative proportion of fixed and floating rate
assets and liabilities.We want to be able to match the
repricing characteristics of assets and liabilities as
closely as possible.
    
    Using a blend of core deposits and national funding.
National funding (large CDs and other funds we purchase from
brokers, money center banks, and other institutions) helps
us match pricing and maturity characteristics because we can
predict the balances of wholesale funding with more
certainty than we can predict the balances of client
deposits. We discuss our funding strategy more fully in the
liquidity and funding section of this report.
    
    Managing the size of our investment securities portfolio
and the mix of instruments in it.For more information about
this, read the investment securities discussion in this
report.
    
    Selling most of our new fixed rate residential mortgage
production into the secondary market.By limiting the fixed
rate residential mortgages in our loan portfolio, we
eliminate much of the long-term risk inherent in fixed rate
instruments that typically have 15- to 30-year maturities. We
believe a more effective way of managing our exposure to
fixed rate mortgages is to hold mortgage-backed instruments
in our investment securities portfolio. Typically, the
instruments we purchase have shorter maturity and duration
characteristics than a portfolio of individual mortgage
loans.
    
    Using off-balance-sheet derivative instruments.We use
instruments such as interest rate swaps and floors to hedge
the effects of market interest rate changes on net interest
income, the fair value of assets and liabilities, and cash
flows. For more information about this, read Note 15,
Derivative and hedging activities, and the discussion of
off-balance-sheet arrangements and contractual obligations in
this report.
     2007 Annual Report
    
    51




---



##### 



INTEREST RATE RISK IN 2007 AND 2006
 Approximately 50% of our total 2007 and 2006 revenue (after the
provision for loan losses and amortization) was subject to
interest rate risk.
 Our interest rate risk position in 2007 and 2006 remained asset-sensitive.
 National funding helped offset the repricing mismatch between
floating rate loans and core deposits.
 Loan and deposit pricing characteristics
 As a percentage of total balances at December 31
    
    2007
    
    
    2006
    
    
    2005Total loans outstanding with floating rates
    
    
    71
    %
    
    
    74
    %
    
    
    76
    %Commercial loans tied to a prime rate
    
    
    59
    %
    
    
    61
    %
    
    
    65
    %Commercial loans tied to the 30-day LIBOR
    
    
    36
    %
    
    
    35
    %
    
    
    32
    %National CDs
3 $100,000 and short-term
borrowings maturing in £ 90 days
    
    

    78
    %1
    
    
    67
    %
    
    
    86
    %
 
 1Excluding
 debt maturing in 2008  In 2006, the interest rate environment affected us positively.
 Just the opposite occurred in 2007.
 52      MD&A
    
    Wilmington Trust Corporation




---



##### 



Interest changes due to volume and rate
 2007/2006
    
    
    2006/2005Increase/(decrease)
    
    
    Increase/(decrease)due to change in
    
    
    due to change in(In millions)
    
    Volume1
    
    
    Rate2
    
    
    Total
    
    
    Volume1
    
    
    Rate2
    
    
    TotalInterest income:Time deposits in
other banks
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Federal funds sold and
securities purchased
under agreements
to resell
    
    
    (0.7
    )
    
    
    0.0
    
    
    
    (0.7
    )
    
    
    0.7
    
    
    
    0.9
    
    
    
    1.6Total short-term
investments
    
    
    (0.7
    )
    
    
    0.0
    
    
    
    (0.7
    )
    
    
    0.7
    
    
    
    0.9
    
    
    
    1.6U.S. Treasury
    
    
    (2.1
    )
    
    
    0.1
    
    
    
    (2.0
    )
    
    
    1.0
    
    
    
    1.1
    
    
    
    2.1Government agencies
    
    
    7.3
    
    
    
    3.6
    
    
    
    10.9
    
    
    
    4.6
    
    
    
    1.7
    
    
    
    6.3State and municipal*
    
    
    0.4
    
    
    
    (0.2
    )
    
    
    0.2
    
    
    
    (0.1
    )
    
    
    
    
    
    
    (0.1
    )Preferred stock*
    
    
    (1.7
    )
    
    
    0.1
    
    
    
    (1.6
    )
    
    
    (0.2
    )
    
    
    0.2
    
    
    
    Mortgage-backed securities
    
    
    (5.2
    )
    
    
    0.7
    
    
    
    (4.5
    )
    
    
    (6.1
    )
    
    
    0.6
    
    
    
    (5.5
    )Other*
    
    
    (0.3
    )
    
    
    0.6
    
    
    
    0.3
    
    
    
    1.8
    
    
    
    5.5
    
    
    
    7.3Total investment
securities
    
    
    (1.6
    )
    
    
    4.9
    
    
    
    3.3
    
    
    
    1.0
    
    
    
    9.1
    
    
    
    10.1Commercial, financial,
and agricultural*
    
    
    3.8
    
    
    
    0.6
    
    
    
    4.4
    
    
    
    (1.5
    )
    
    
    38.9
    
    
    
    37.4Real estate  construction
    
    
    18.2
    
    
    
    (2.3
    )
    
    
    15.9
    
    
    
    36.7
    
    
    
    24.4
    
    
    
    61.1Mortgage  commercial*
    
    
    11.1
    
    
    
    0.9
    
    
    
    12.0
    
    
    
    0.8
    
    
    
    17.5
    
    
    
    18.3Total commercial loans
    
    
    33.1
    
    
    
    (0.8
    )
    
    
    32.3
    
    
    
    36.0
    
    
    
    80.8
    
    
    
    116.8Mortgage  residential
    
    
    3.5
    
    
    
    0.3
    
    
    
    3.8
    
    
    
    3.3
    
    
    
    (0.5
    )
    
    
    2.8Consumer
    
    
    4.9
    
    
    
    3.7
    
    
    
    8.6
    
    
    
    8.2
    
    
    
    11.6
    
    
    
    19.8Loans
secured by liquid collateral
    
    
    (1.4
    )
    
    
    1.1
    
    
    
    (0.3
    )
    
    
    (2.6
    )
    
    
    10.1
    
    
    
    7.5Total retail loans
    
    
    7.0
    
    
    
    5.1
    
    
    
    12.1
    
    
    
    8.9
    
    
    
    21.2
    
    
    
    30.1Total loans net of
unearned income
    
    
    40.1
    
    
    
    4.3
    
    
    
    44.4
    
    
    
    44.9
    
    
    
    102.0
    
    
    
    146.9Total interest income
    
    $
    37.8
    
    
    $
    9.2
    
    
    $
    47.0
    
    
    $
    46.6
    
    
    $
    112.0
    
    
    $
    158.6Interest expense:Savings
    
    $
    0.8
    
    
    $
    9.7
    
    
    $
    10.5
    
    
    $
    (0.1
    )
    
    $
    0.5
    
    
    $
    0.4Interest-bearing demand
    
    
    0.4
    
    
    
    6.8
    
    
    
    7.2
    
    
    
    1.4
    
    
    
    5.2
    
    
    
    6.6Certificates < $100,000
    
    
    1.1
    
    
    
    6.0
    
    
    
    7.1
    
    
    
    4.0
    
    
    
    11.4
    
    
    
    15.4Local certificates
3 $100,000
    
    
    (4.9
    )
    
    
    1.4
    
    
    
    (3.5
    )
    
    
    3.7
    
    
    
    7.5
    
    
    
    11.2Total core interest-
bearing deposits
    
    
    (2.6
    )
    
    
    23.9
    
    
    
    21.3
    
    
    
    9.0
    
    
    
    24.6
    
    
    
    33.6National certificates
3 $100,000
    
    
    (2.4
    )
    
    
    6.8
    
    
    
    4.4
    
    
    
    16.9
    
    
    
    49.4
    
    
    
    66.3Total interest-
bearing deposits
    
    
    (5.0
    )
    
    
    30.7
    
    
    
    25.7
    
    
    
    25.9
    
    
    
    74.0
    
    
    
    99.9Federal funds purchased
and securities sold
under agreements
to repurchase
    
    
    16.6
    
    
    
    (1.4
    )
    
    
    15.2
    
    
    
    0.6
    
    
    
    17.5
    
    
    
    18.1U.S. Treasury demand
    
    
    (0.1
    )
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    0.2
    
    
    
    0.2Line of credit and other debt
    
    
    5.1
    
    
    
    2.3
    
    
    
    7.4
    
    
    
    0.5
    
    
    
    
    
    
    
    0.5Total short-term
borrowings
    
    
    21.6
    
    
    
    1.0
    
    
    
    22.6
    
    
    
    1.1
    
    
    
    17.7
    
    
    
    18.8Long-term debt
    
    
    (5.8
    )
    
    
    (0.9
    )
    
    
    (6.7
    )
    
    
    (0.6
    )
    
    
    5.9
    
    
    
    5.3Total interest expense
    
    $
    10.8
    
    
    $
    30.8
    
    
    $
    41.6
    
    
    $
    26.4
    
    
    $
    97.6
    
    
    $
    124.0Changes in net
interest income
    
    $
    27.0
    
    
    $
    (21.6
    )
    
    $
    5.4
    
    
    $
    20.2
    
    
    $
    14.4
    
    
    $
    34.6
 
 *
    
    We calculate variances on a fully
tax-equivalent basis, which includes the
effects of any disallowed interest expense
deduction.1
    
    We define changes attributable to volume
as a change in average balance multiplied
by the prior years rate.2
    
    We define changes attributable to rate
as a change in rate multiplied by the
average balance in the applicable period
for the prior year. We have allocated a
change in rate/volume (change in rate
multiplied by change in volume) to the
change in rate. 2007 Annual Report
    
    53




---



##### 



We changed our prime lending rate in tandem with the FOMCs rate
moves in 2006 and 2007.
 Wilmington
Trust prime lending rate
 For the year
    
    2007
    
    
    2006
    
    
    2005Wilmington Trust prime lending rate (at year-end)
    
    
    7.25
    %
    
    
    8.25
    %
    
    
    7.25
    %Wilmington Trust prime lending rate (on average)
    
    
    8.07
    %
    
    
    7.96
    %
    
    
    6.19
    %
 The market interest rate environment affected our net interest
margin positively in 2006, but negatively in 2007.
 For the year ended December 31
    
    2007
    
    
    2006
    
    
    2005Full-year net interest margin
    
    
    3.67
    %
    
    
    3.79
    %
    
    
    3.71
    %
 As of December 31, 2007, our interest rate risk simulation model projected that:
 
  
  Effect of interest rate changes on net interest income
 For the 12 months beginning December 31
    
    2007
    
    
    2006
    
    
    2005Gradual increase of 250 basis points
    
    
    4.22
    %
    
    
    4.22
    %
    
    
    0.56
    %Gradual decrease of 250 basis points
    
    
    (6.67
    )%
    
    
    (3.99
    )%
    
    
    (3.97
    )%
 The interest rate environment changed dramatically in January
2008, when the FOMC lowered the federal funds target rate by 125
basis points.
 
    
    If short-term rates were to increase gradually over a
10-month period in a series of moves that totaled 250 basis
points, our net interest income would increase 5.47% over
the 12 months beginning January 31, 2008.
 
    
    If short-term rates were to decrease gradually over a
10-month period in a series of moves that totaled 250 basis
points, our net interest income would decline by 11.05% over
the 12 months beginning January 31, 2008.
  54      MD&A
    
    Wilmington Trust Corporation




---



##### 




    
    To reflect pricing characteristics more accurately, we
changed some of the assets in the model from fixed rates to
floating rates.
 
    
    On March 31, 2006, we terminated $250 million of interest
rate swaps that were associated with $250 million of
subordinated long-term debt. We issued this debt at a fixed
rate, which we immediately swapped for a floating rate. We
terminated these swaps to eliminate the potential volatility
of changing market valuations. For more information about
these swaps, read Note 5, Derivative and hedging
activities, and the derivatives and hedging instruments
discussion in this report.
  FINANCIAL MARKET RISK
      2007 Annual Report
    
    55




---



##### 



Revenue subject to financial market risk
 For the
year (dollars in millions)
    
    2007
    
    
    2006
    
    
    2005WAS trust and investment advisory revenue
    
    $
    158.6
    
    
    $
    136.5
    
    
    $
    123.9CCS retirement services revenue
    
    
    12.9
    
    
    
    11.5
    
    
    
    10.7CCS investment/cash management revenue
    
    
    12.8
    
    
    
    10.3
    
    
    
    7.7Affiliate money manager revenue
    
    
    21.9
    
    
    
    20.5
    
    
    
    17.5Total revenue subject to financial market risk
    
    $
    206.2
    
    
    $
    178.8
    
    
    $
    159.8Total
noninterest income1
    
    $
    386.0
    
    
    $
    346.1
    
    
    $
    313.3Percent of total subject to financial market risk
    
    
    53
    %
    
    
    52
    %
    
    
    51
    %Total net interest and noninterest income1
    
    $
    726.7
    
    
    $
    687.9
    
    
    $
    630.4Percent of total subject to financial market risk
    
    
    28
    %
    
    
    26
    %
    
    
    25
    %
 
 1
    
    Noninterest income after amortization. Net interest income after the provision for
loan losses. ECONOMIC RISK
      56      MD&A
    
    Wilmington Trust Corporation




---



##### 



OPERATIONAL AND FIDUCIARY RISK
    REGULATORY RISK
  LEGAL RISK
   2007 Annual Report
    
    57




---



##### 



OTHER INFORMATION
 DERIVATIVES, HEDGING INSTRUMENTS, OTHER OFF-BALANCE-SHEET
ARRANGEMENTS, PENSION AND OTHER POSTRETIREMENT BENEFIT
OBLIGATIONS, AND OTHER CONTRACTUAL OBLIGATIONS
  
    
    Derivative instruments, such as interest rate swaps and
interest rate floors. For more information about our
derivative instruments, read Note 15, Derivative and
hedging activities, in this report.
    
    Instruments that generally accepted accounting principles
deem to be off-balance-sheet arrangements, which means they
do not appear on our balance sheet. These instruments
include stand-by letters of credit, unfunded loan
commitments, unadvanced lines of credit, operating lease
obligations, and other guaranties. For more information
about these instruments, read Note 12, Borrowings, and
Note 13, Commitments and contingencies, in this report.
    
    Pension and other postretirement benefit plan obligations.
We contributed $13.2 million and $18.0 million in 2007 and
2006, respectively, to these plans. We expect to contribute
at least $3.6 million in 2008. For more information about
these plans, read Note 18, Pension and other
postretirement benefits, in this report.
    
    Contractual obligations that do appear on our balance
sheet, including certificates of deposit and long-term debt.
For more information about certificates of deposit, read
Note 11, Deposits, in this report. For more information
about our long-term debt, read Note 12, Borrowings, in
this report. As of December 31, 2007, we have unrecognized tax benefits
that, if recognized, would affect our effective tax rate in future
periods. Due to the uncertainity of the ultimate amounts to be paid,
as well as the timing of such payments, we have excluded all
uncertain tax liabilities that have not been paid from the table
 of contractual obligations on the next page. For more information on our
income taxes, read  Note 20, Income Taxes, in this
report.
  
    
    $1.00 billion of interest rate floor contracts in connection
with floating rate loans in our commercial loan portfolio.
    
    $125.0 million of swaps with other financial institutions
made in connection with our issues of subordinated long-term Debt.
   58     MD&A
    
    Wilmington Trust Corporation




---



##### 




    
    One $28.0 million loan from the Federal Home Loan Bank of
Pittsburgh. We used these funds to construct Wilmington
Trust Plaza, our operations center in downtown Wilmington,
Delaware, which was completed in 1998.
    
    Lease commitments for offices, net of sublease
arrangements, which total $67.9 million. In Delaware, we
lease many of our branch offices. We lease all of our branch
and other offices outside of Delaware.
    
    An 82.41% guaranty of a $3.0 million line-of-credit
obligation of affiliate money manager Cramer Rosenthal
McGlynn (CRM). The guaranty amount represents our current
ownership interest in CRM. The balance of this line of credit
is zero and it is scheduled to expire on December 2, 2008.
    
    Certificates of deposit amounting to $3.76 billion.
    
    Letters of credit, unfunded loan commitments, and
unadvanced lines of credit amounting to $4.00 billion.
 Contractual obligations as of December 31, 2007
 Payments due
    
    
    
    
    
    Less than
    
    
    1 to
    
    
    3 to
    
    
    More than(in millions)
    
    Total
    
    
    1 year
    
    
    3 years
    
    
    5 years
    
    
    5 yearsCertificates of
deposit
    
    $
    3,759.7
    
    
    $
    3,639.6
    
    
    $
    84.2
    
    
    $
    29.1
    
    
    $
    6.8Debt
obligations1
    
    
    403.0
    
    
    
    125.0
    
    
    
    28.0
    
    
    
    
    
    
    
    250.0Interest on debt
    
    
    74.3
    
    
    
    18.2
    
    
    
    27.7
    
    
    
    24.4
    
    
    
    4.0Operating lease
obligations
    
    
    67.9
    
    
    
    12.2
    
    
    
    21.1
    
    
    
    13.1
    
    
    
    21.5Benefit plan
obligations
    
    
    3.6
    
    
    
    3.6
    
    
    
    
    
    
    
    
    
    
    
    Guaranty
obligations
    
    
    2.5
    
    
    
    2.5
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    $
    4,311.0
    
    
    $
    3,801.1
    
    
    $
    161.0
    
    
    $
    66.6
    
    
    $
    282.3
 
 1
    
    Contractual obligations associated with debt obligations include future interest
payments.  2007 Annual Report
    
    59




---



##### 



CONTROLS AND PROCEDURES
  CRITICAL ACCOUNTING POLICIES AND ESTIMATES
   60     MD&A
    
    Wilmington Trust Corporation




---



##### 



FACTORS AFFECTING FUTURE RESULTS
    2007 Annual Report
    
    61




---



##### 



ELEVEN-YEAR SUMMARY OF
SELECTED CONSOLIDATED FINANCIAL DATA
 (In millions, except share amounts)
    
    2007
    
    

20067CONSOLIDATED AVERAGE STATEMENTS OF CONDITIONASSETSCash and due from banks
    
    $
    208.7
    
    
    $
    210.6Short-term investments
    
    
    38.4
    
    
    
    52.8Investment securities
    
    
    1,875.9
    
    
    
    1,893.1Loans
    
    
    8,212.0
    
    
    
    7,699.8Reserve for loan losses
    
    
    (95.5
    )
    
    
    (91.8
    )Net loans
    
    
    8,116.5
    
    
    
    7,608.0Other
    
    
    757.9
    
    
    
    730.6Total
    
    $
    10,997.4
    
    
    $
    10,495.1LIABILITIES AND STOCKHOLDERS EQUITYCore deposits
    
    $
    5,045.5
    
    
    $
    4,936.7National certificates $100,000 and over
    
    
    2,756.7
    
    
    
    2,803.9Short-term borrowings
    
    
    1,568.2
    
    
    
    1,135.8Other
    
    
    228.5
    
    
    
    164.9Long-term debt
    
    
    307.3
    
    
    
    394.4Total
    
    
    9,906.2
    
    
    
    9,435.7Minority interest
    
    
    0.2
    
    
    
    0.3Stockholders equity
    
    
    1,091.0
    
    
    
    1,059.1Total
    
    $
    10,997.4
    
    
    $
    10,495.1CONSOLIDATED STATEMENTS OF INCOMENet interest income
    
    $
    368.9
    
    
    $
    363.1Advisory fees:Wealth Advisory Services
    
    
    220.1
    
    
    
    192.0Corporate Client Services
    
    
    98.6
    
    
    
    85.6Cramer Rosenthal McGlynn
    
    
    20.7
    
    
    
    19.3Roxbury Capital Management
    
    
    1.2
    
    
    
    1.2Total advisory fees
    
    
    340.6
    
    
    
    298.1Amortization of affiliate intangibles
    
    
    (4.7
    )
    
    
    (4.2
    )Net advisory fees
    
    
    335.9
    
    
    
    293.9Other noninterest income
    
    
    50.0
    
    
    
    52.0Securities gains/(losses)
    
    
    0.1
    
    
    
    0.2Total noninterest income
    
    
    386.0
    
    
    
    346.1Net interest and noninterest income
    
    
    754.9
    
    
    
    709.2Provision for loan losses
    
    
    (28.2
    )
    
    
    (21.3
    )Salaries and employment benefits
    
    
    270.6
    
    
    
    242.5Other noninterest expense
    
    
    173.5
    
    
    

229.1
    7Total noninterest expense
    
    
    444.1
    
    
    
    471.6Income before income taxes, minority interest, and
cumulative effect of change in accounting principle
    
    
    282.6
    
    
    
    216.3Income tax expense
    
    
    99.7
    
    
    
    72.7Net income before minority interest and
cumulative effect of change in accounting principle
    
    
    182.9
    
    
    
    143.6Minority interest
    
    
    0.9
    
    
    
    (0.2
    )Net income before cumulative effect of change in
accounting principle
    
    
    182.0
    
    
    
    143.8Cumulative effect of change in accounting principle
(net of income taxes of $0.6 in 2001)
    
    
    
    
    
    
    Net income
    
    $
    182.0
    
    
    $
    143.8
    7
 
 1
    
    1999 results included a $13.4 million
one-time pre-tax charge for
outsourcing data processing functions.2
    
    Based on income before the cumulative
effect of change in accounting
principle or one-time pre-tax charge
for outsourcing data processing
functions.3
    
    At year-end.4
    
    Total other expenses as a percentage
of net interest and other income on a
tax-equivalent basis.5
    
    Net income minus dividends paid as a
percentage of prior year-end
stockholders equity.6
    
    Adjusted for two-for-one stock split in June 2002.7
    
    2006 results included a $72.3
million non-cash goodwill impairment
write-down.  62     Eleven-Year Summary of
         Selected Consolidated Financial Data
    
    Wilmington Trust Corporation




---



##### 



Compoundgrowth rates1997 to
    
    
    2002 to2005
    
    
    
    
    2004
    
    
    2003
    
    
    2002
    
    
    2001
    
    
    2000
    
    
    1999

1
    
    1998
    
    
    1997
    
    
    2007
    
    
    2007$
    229.2
    
    
    
    
    $
    212.2
    
    
    $
    190.2
    
    
    $
    189.1
    
    
    $
    215.8
    
    
    $
    194.7
    
    
    $
    198.0
    
    
    $
    188.2
    
    
    $
    190.2
    
    
    
    0.93
    %
    
    
    1.99
    %33.7
    
    
    
    
    
    23.8
    
    
    
    28.5
    
    
    
    28.2
    
    
    
    28.7
    
    
    
    29.5
    
    
    
    31.5
    
    
    
    31.1
    
    
    
    22.4
    
    
    
    5.54
    
    
    
    6.371,876.6
    
    
    
    
    
    1,868.5
    
    
    
    1,742.4
    
    
    
    1,295.4
    
    
    
    1,341.9
    
    
    
    1,567.0
    
    
    
    1,594.4
    
    
    
    1,609.6
    
    
    
    1,386.3
    
    
    
    3.07
    
    
    
    7.697,047.1
    
    
    
    
    
    6,470.4
    
    
    
    6,060.0
    
    
    
    5,691.3
    
    
    
    5,235.3
    
    
    
    5,053.1
    
    
    
    4,530.4
    
    
    
    4,156.4
    
    
    
    3,921.5
    
    
    
    7.67
    
    
    
    7.61(90.9
    )
    
    
    
    
    (90.3
    )
    
    
    (86.7
    )
    
    
    (83.0
    )
    
    
    (77.8
    )
    
    
    (75.3
    )
    
    
    (73.3
    )
    
    
    (66.2
    )
    
    
    (56.7
    )
    
    
    5.35
    
    
    
    2.856,956.2
    
    
    
    
    
    6,380.1
    
    
    
    5,973.3
    
    
    
    5,608.3
    
    
    
    5,157.5
    
    
    
    4,977.8
    
    
    
    4,457.1
    
    
    
    4,090.2
    
    
    
    3,864.8
    
    
    
    7.70
    
    
    
    7.67707.3
    
    
    
    
    
    643.2
    
    
    
    598.5
    
    
    
    542.9
    
    
    
    487.6
    
    
    
    441.4
    
    
    
    409.2
    
    
    
    333.9
    
    
    
    216.7
    
    
    
    13.34
    
    
    
    6.90$
    9,803.0
    
    
    
    
    $
    9,127.8
    
    
    $
    8,532.9
    
    
    $
    7,663.9
    
    
    $
    7,231.5
    
    
    $
    7,210.4
    
    
    $
    6,690.2
    
    
    $
    6,253.0
    
    
    $
    5,680.4
    
    
    
    6.83
    %
    
    
    7.49
    %$
    4,866.6
    
    
    
    
    $
    4,553.7
    
    
    $
    4,356.2
    
    
    $
    3,981.1
    
    
    $
    3,675.0
    
    
    $
    3,766.3
    
    
    $
    4,004.5
    
    
    $
    3,802.1
    
    
    $
    3,561.8
    
    
    
    3.54
    %
    
    
    4.85
    %2,306.6
    
    
    
    
    
    2,039.5
    
    
    
    1,937.7
    
    
    
    1,846.5
    
    
    
    1,588.1
    
    
    
    1,504.8
    
    
    
    762.0
    
    
    
    625.2
    
    
    
    308.6
    
    
    
    24.48
    
    
    
    8.341,107.8
    
    
    
    
    
    1,116.3
    
    
    
    975.7
    
    
    
    821.1
    
    
    
    1,027.7
    
    
    
    1,145.9
    
    
    
    1,138.1
    
    
    
    1,076.5
    
    
    
    1,188.2
    
    
    
    2.26
    
    
    
    12.58167.0
    
    
    
    
    
    156.3
    
    
    
    144.4
    
    
    
    132.1
    
    
    
    131.3
    
    
    
    92.2
    
    
    
    84.9
    
    
    
    96.0
    
    
    
    99.6
    
    
    
    8.66
    
    
    
    11.58405.5
    
    
    
    
    
    407.3
    
    
    
    345.8
    
    
    
    160.5
    
    
    
    166.3
    
    
    
    168.0
    
    
    
    168.0
    
    
    
    125.9
    
    
    
    43.0
    
    
    
    24.68
    
    
    
    19.458,853.5
    
    
    
    
    
    8,273.1
    
    
    
    7,759.8
    
    
    
    6,941.3
    
    
    
    6,588.4
    
    
    
    6,677.2
    
    
    
    6,157.5
    
    
    
    5,725.7
    
    
    
    5,201.2
    
    
    
    6.65
    
    
    
    7.370.2
    
    
    
    
    
    0.4
    
    
    
    0.1
    
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    14.87949.3
    
    
    
    
    
    854.3
    
    
    
    773.0
    
    
    
    722.5
    
    
    
    643.1
    
    
    
    533.2
    
    
    
    532.7
    
    
    
    527.3
    
    
    
    479.2
    
    
    
    8.58
    
    
    
    8.59$
    9,803.0
    
    
    
    
    $
    9,127.8
    
    
    $
    8,532.9
    
    
    $
    7,663.9
    
    
    $
    7,231.5
    
    
    $
    7,210.4
    
    
    $
    6,690.2
    
    
    $
    6,253.0
    
    
    $
    5,680.4
    
    
    
    6.83
    %
    
    
    7.49
    %$
    328.9
    
    
    
    
    $
    294.4
    
    
    $
    277.1
    
    
    $
    276.5
    
    
    $
    258.9
    
    
    $
    255.1
    
    
    $
    245.9
    
    
    $
    237.7
    
    
    $
    230.0
    
    
    
    4.84
    %
    
    
    5.94
    %172.1
    
    
    
    
    
    155.6
    
    
    
    140.4
    
    
    
    126.9
    
    
    
    109.6
    
    
    
    104.5
    
    
    
    98.1
    
    
    
    88.8
    
    
    
    81.8
    
    
    
    10.40
    
    
    
    11.6476.3
    
    
    
    
    
    71.6
    
    
    
    67.3
    
    
    
    64.3
    
    
    
    54.9
    
    
    
    46.7
    
    
    
    40.4
    
    
    
    35.8
    
    
    
    32.7
    
    
    
    11.67
    
    
    
    8.9316.1
    
    
    
    
    
    10.9
    
    
    
    5.3
    
    
    
    7.7
    
    
    
    6.3
    
    
    
    1.6
    
    
    
    4.1
    
    
    
    4.9
    
    
    
    
    
    
    
    
    
    
    
    21.871.4
    
    
    
    
    
    1.6
    
    
    
    (2.3
    )
    
    
    8.6
    
    
    
    14.2
    
    
    
    19.7
    
    
    
    12.0
    
    
    
    2.5
    
    
    
    
    
    
    
    
    
    
    
    (32.56
    )265.9
    
    
    
    
    
    239.7
    
    
    
    210.7
    
    
    
    207.5
    
    
    
    185.0
    
    
    
    172.5
    
    
    
    154.6
    
    
    
    132.0
    
    
    
    114.5
    
    
    
    11.52
    
    
    
    10.42(4.0
    )
    
    
    
    
    (2.5
    )
    
    
    (1.7
    )
    
    
    (1.3
    )
    
    
    (8.2
    )
    
    
    (7.5
    )
    
    
    (6.2
    )
    
    
    (3.2
    )
    
    
    
    
    
    
    
    
    
    
    29.31261.9
    
    
    
    
    
    237.2
    
    
    
    209.0
    
    
    
    206.2
    
    
    
    176.8
    
    
    
    165.0
    
    
    
    148.4
    
    
    
    128.8
    
    
    
    114.5
    
    
    
    11.36
    
    
    
    10.2550.6
    
    
    
    
    
    50.0
    
    
    
    54.5
    
    
    
    54.0
    
    
    
    49.7
    
    
    
    51.6
    
    
    
    41.8
    
    
    
    48.4
    
    
    
    43.0
    
    
    
    1.52
    
    
    
    (1.53
    )0.8
    
    
    
    
    
    (0.5
    )
    
    
    0.7
    
    
    
    2.0
    
    
    
    1.5
    
    
    
    (0.4
    )
    
    
    1.3
    
    
    
    6.7
    
    
    
    
    
    
    
    
    
    
    
    (45.07
    )313.3
    
    
    
    
    
    286.7
    
    
    
    264.2
    
    
    
    262.2
    
    
    
    228.0
    
    
    
    216.2
    
    
    
    191.5
    
    
    
    183.9
    
    
    
    157.5
    
    
    
    9.38
    
    
    
    8.04642.2
    
    
    
    
    
    581.1
    
    
    
    541.3
    
    
    
    538.7
    
    
    
    486.9
    
    
    
    471.3
    
    
    
    437.4
    
    
    
    421.6
    
    
    
    387.5
    
    
    
    6.90
    
    
    
    6.98(11.8
    )
    
    
    
    
    (15.6
    )
    
    
    (21.6
    )
    
    
    (22.0
    )
    
    
    (19.9
    )
    
    
    (21.9
    )
    
    
    (17.5
    )
    
    
    (20.0
    )
    
    
    (21.5
    )
    
    
    2.75
    
    
    
    5.09225.0
    
    
    
    
    
    210.5
    
    
    
    190.8
    
    
    
    187.5
    
    
    
    172.2
    
    
    
    167.9
    
    
    
    151.7
    
    
    
    141.0
    
    
    
    133.3
    
    
    
    7.34
    
    
    
    7.61145.1
    
    
    
    
    
    139.3
    
    
    
    125.5
    
    
    
    127.5
    
    
    
    110.1
    
    
    
    101.8
    
    
    
    111.0

1
    
    
    92.2
    
    
    
    77.9
    
    
    
    8.34
    
    
    
    6.35370.1
    
    
    
    
    
    349.8
    
    
    
    316.3
    
    
    
    315.0
    
    
    
    282.3
    
    
    
    269.7
    
    
    
    262.7
    
    
    
    233.2
    
    
    
    211.2
    
    
    
    7.72
    
    
    
    7.11260.3
    
    
    
    
    
    215.7
    
    
    
    203.4
    
    
    
    201.7
    
    
    
    184.7
    
    
    
    179.7
    
    
    
    157.2
    
    
    
    168.4
    
    
    
    154.8
    
    
    
    6.20
    
    
    
    6.9893.0
    
    
    
    
    
    77.9
    
    
    
    71.4
    
    
    
    71.8
    
    
    
    64.1
    
    
    
    62.4
    
    
    
    53.2
    
    
    
    56.6
    
    
    
    51.6
    
    
    
    6.81
    
    
    
    6.79167.3
    
    
    
    
    
    137.8
    
    
    
    132.0
    
    
    
    129.9
    
    
    
    120.6
    
    
    
    117.3
    
    
    
    104.0
    
    
    
    111.8
    
    
    
    103.2
    
    
    
    5.89
    
    
    
    7.080.3
    
    
    
    
    
    0.9
    
    
    
    1.1
    
    
    
    0.6
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8.45167.0
    
    
    
    
    
    136.9
    
    
    
    130.9
    
    
    
    129.3
    
    
    
    120.6
    
    
    
    117.3
    
    
    
    104.0
    
    
    
    111.8
    
    
    
    103.2
    
    
    
    5.84
    
    
    
    7.08
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    167.0
    
    
    
    
    $
    136.9
    
    
    $
    130.9
    
    
    $
    129.3
    
    
    $
    121.7
    
    
    $
    117.3
    
    
    $
    104.0

1
    
    $
    111.8
    
    
    $
    103.2
    
    
    
    5.84
    %
    
    
    7.08
    %
   2007 Annual Report
    
    63




---



##### 



ELEVEN-YEAR SUMMARY OF
SELECTED CONSOLIDATED FINANCIAL DATA
 (In millions, except share amounts)
    
    2007
    
    

20067Net income per share  diluted:Income before cumulative effect of change
in accounting principle
    
    $
    2.64
    
    
    $
    2.06Cumulative effect of change in accounting
principle6
    
    
    
    
    
    
    Net income
per share 
diluted6
    
    $
    2.64
    
    
    $
    2.06Percentage change from prior year
    
    
    28
    %
    
    
    (15
    )%SELECTED FINANCIAL RATIOS AND STATISTICSNet income as a percentage of:Average
stockholders
equity2
    
    
    16.68
    %
    
    
    13.58
    %Average
total
assets2
    
    
    1.65
    
    
    
    1.37Capital
generation
ratio2,5
    
    
    8.69
    
    
    
    5.77Average equity to assets ratio
    
    
    9.92
    
    
    
    10.09Risk-based
capital
ratio3
    
    
    11.21
    
    
    
    12.10Loan quality:Percentage of average total loans:Net charge-offs
    
    
    0.26
    %
    
    
    0.24
    %Nonaccruing loans
    
    
    0.58
    
    
    
    0.40Percentage of total loans:Reserve for
loan
losses3
    
    
    1.19
    %
    
    
    1.16
    %Selected per share data:Cash
dividends declared and
paid6
    
    $
    1.320
    
    
    $
    1.245Book
value3,6
    
    
    16.70
    
    
    
    15.46Stock
price3,6
    
    
    35.20
    
    
    
    42.17Price/earnings
multiple3
    
    
    13.13
    
    
    
    20.08Assets under management:Wilmington Trust Company
    
    $
    35,934.7
    
    
    $
    31,222.9Cramer Rosenthal McGlynn
    
    
    11,417.3
    
    
    
    10,623.8Roxbury Capital Management
    
    
    2,466.0
    
    
    
    3,138.1Combined assets under management
    
    $
    49,818.0
    
    
    $
    44,984.8Staff
members
(full-time-equivalent)3
    
    
    2,672
    
    
    
    2,574Net income
per staff member (in
thousands)2
    
    $
    68.1
    
    
    $
    55.9Efficiency
ratio2,4
    
    
    58.53
    %
    
    
    66.10
    %Registered
stockholders3
    
    
    7,718
    
    
    
    7,962
 
 1
    
    1999 results included a $13.4 million
one-time pre-tax charge for
outsourcing data processing functions.2
    
    Based on income before the cumulative
effect of change in accounting
principle or one-time pre-tax charge
for outsourcing data processing
functions.3
    
    At year-end.4
    
    Total other expenses as a percentage
of net interest and other income on a
tax-equivalent basis.5
    
    Net income minus dividends paid as a
percentage of prior year-end
stockholders equity.6
    
    Adjusted for two-for-one stock split in June 2002.7
    
    2006 results included a $72.3
million non-cash goodwill impairment
write-down.  64     Eleven-Year Summary of
         Selected Consolidated Financial Data
    
    Wilmington Trust Corporation




---



##### 



Compoundgrowth rates1997 to
    
    
    2002 to2005
    
    
    
    
    2004
    
    
    2003
    
    
    2002
    
    
    2001
    
    
    2000
    
    
    1999

1
    
    1998
    
    
    1997
    
    
    2007
    
    
    2007$
    2.43
    
    
    
    
    $
    2.02
    
    
    $
    1.97
    
    
    $
    1.95
    
    
    $
    1.83
    
    
    $
    1.80
    
    
    $
    1.56
    1
    
    $
    1.63
    
    
    $
    1.50
    
    
    
    5.82
    %
    
    
    6.25
    %
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.02
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    2.43
    
    
    
    
    $
    2.02
    
    
    $
    1.97
    
    
    $
    1.95
    
    
    $
    1.85
    
    
    $
    1.80
    
    
    $
    1.56
    1
    
    $
    1.63
    
    
    $
    1.50
    
    
    
    5.82
    %
    
    
    6.25
    %20
    %
    
    
    
    
    3
    %
    
    
    1
    %
    
    
    5
    %
    
    
    3
    %
    
    
    15
    %
    
    
    (4
    )%
    
    
    9
    %
    
    
    9
    %17.59
    %
    
    
    
    
    16.02
    %
    
    
    16.93
    %
    
    
    17.90
    %
    
    
    18.92
    %
    
    
    22.00
    %
    
    
    19.52
    %
    
    
    21.20
    %
    
    
    21.54
    %1.70
    
    
    
    
    
    1.50
    
    
    
    1.53
    
    
    
    1.69
    
    
    
    1.68
    
    
    
    1.63
    
    
    
    1.55
    
    
    
    1.79
    
    
    
    1.829.54
    
    
    
    
    
    7.70
    
    
    
    8.15
    
    
    
    9.24
    
    
    
    10.13
    
    
    
    12.04
    
    
    
    9.07
    
    
    
    12.04
    
    
    
    11.989.68
    
    
    
    
    
    9.36
    
    
    
    9.06
    
    
    
    9.43
    
    
    
    8.89
    
    
    
    7.39
    
    
    
    7.96
    
    
    
    8.43
    
    
    
    8.4411.84
    
    
    
    
    
    11.68
    
    
    
    12.52
    
    
    
    10.19
    
    
    
    11.20
    
    
    
    10.83
    
    
    
    10.70
    
    
    
    12.49
    
    
    
    12.390.14
    %
    
    
    
    
    0.24
    %
    
    
    0.28
    %
    
    
    0.31
    %
    
    
    0.30
    %
    
    
    0.44
    %
    
    
    0.28
    %
    
    
    0.29
    %
    
    
    0.31
    %0.62
    
    
    
    
    
    0.95
    
    
    
    0.75
    
    
    
    0.74
    
    
    
    0.73
    
    
    
    0.80
    
    
    
    0.64
    
    
    
    0.74
    
    
    
    0.731.24
    %
    
    
    
    
    1.33
    %
    
    
    1.44
    %
    
    
    1.41
    %
    
    
    1.47
    %
    
    
    1.48
    %
    
    
    1.60
    %
    
    
    1.66
    %
    
    
    1.60
    %$
    1.185
    
    
    
    
    $
    1.125
    
    
    $
    1.065
    
    
    $
    1.005
    
    
    $
    0.945
    
    
    $
    0.885
    
    
    $
    0.825
    
    
    $
    0.765
    
    
    $
    0.70514.99
    
    
    
    
    
    13.49
    
    
    
    12.17
    
    
    
    11.35
    
    
    
    10.48
    
    
    
    9.17
    
    
    
    7.72
    
    
    
    8.20
    
    
    
    7.5138.91
    
    
    
    
    
    36.15
    
    
    
    36.00
    
    
    
    31.68
    
    
    
    31.66
    
    
    
    31.03
    
    
    
    24.13
    
    
    
    30.82
    
    
    
    31.1915.75
    
    
    
    
    
    17.63
    
    
    
    18.09
    
    
    
    16.08
    
    
    
    16.93
    
    
    
    17.05
    
    
    
    15.27
    
    
    
    18.46
    
    
    
    20.39$
    25,998.2
    
    
    
    
    $
    26,464.0
    
    
    $
    24,352.8
    
    
    $
    20,966.7
    
    
    $
    23,829.2
    
    
    $
    27,994.4
    
    
    $
    25,529.7
    
    
    $
    22,770.2
    
    
    $
    18,740.78,899.0
    
    
    
    
    
    6,927.2
    
    
    
    4,698.6
    
    
    
    3,512.0
    
    
    
    4,643.0
    
    
    
    3,495.0
    
    
    
    3,204.0
    
    
    
    4,319.0
    
    
    
    3,287.3
    
    
    
    
    
    3,138.6
    
    
    
    3,210.7
    
    
    
    3,712.4
    
    
    
    7,700.0
    
    
    
    11,300.0
    
    
    
    11,200.0
    
    
    
    6,000.0
    
    
    
    $
    38,184.5
    
    
    
    
    $
    36,529.8
    
    
    $
    32,262.1
    
    
    $
    28,191.1
    
    
    $
    36,172.2
    
    
    $
    42,789.4
    
    
    $
    39,933.7
    
    
    $
    33,089.2
    
    
    $
    18,740.72,469
    
    
    
    
    
    2,428
    
    
    
    2,307
    
    
    
    2,361
    
    
    
    2,316
    
    
    
    2,299
    
    
    
    2,434
    
    
    
    2,442
    
    
    
    2,428$
    67.6
    
    
    
    
    $
    56.4
    
    
    $
    56.7
    
    
    $
    54.8
    
    
    $
    52.5
    
    
    $
    51.0
    
    
    $
    42.7
    1
    
    $
    45.8
    
    
    $
    42.557.28
    %
    
    
    
    
    59.72
    %
    
    
    57.92
    %
    
    
    57.93
    %
    
    
    57.20
    %
    
    
    56.35
    %
    
    
    58.99
    %
    
    
    54.23
    %
    
    
    53.21
    %8,180
    
    
    
    
    
    8,499
    
    
    
    8,666
    
    
    
    8,712
    
    
    
    8,841
    
    
    
    9,189
    
    
    
    9,617
    
    
    
    9,868
    
    
    
    10,164
  2007 Annual Report
    
    65




---



##### 



FIVE-YEAR
ANALYSIS OF EARNINGS AND
CONSOLIDATED AVERAGE STATEMENTS OF CONDITION
 2007(Dollar amounts in millions;
    
    Average
    
    
    Income/
    
    
    Averagerates on a tax-equivalent basis)
    
    balance
    
    
    expense
    
    
    rateASSETSFederal funds sold and securities purchased
under agreements to resell
    
    $
    38.4
    
    
    $
    2.0
    
    
    
    5.23
    %U.S. Treasury
    
    
    103.8
    
    
    
    4.0
    
    
    
    3.82Government agencies
    
    
    659.5
    
    
    
    31.3
    
    
    
    4.75Obligations
of state and political
subdivisions1
    
    
    14.5
    
    
    
    1.1
    
    
    
    7.48Preferred stock1
    
    
    68.5
    
    
    
    5.3
    
    
    
    7.76Mortgage-backed securities
    
    
    668.3
    
    
    
    28.4
    
    
    
    4.25Other securities1
    
    
    389.9
    
    
    
    24.5
    
    
    
    6.27Total investment securities
    
    
    1,904.5
    
    
    
    94.6
    
    
    
    4.97Commercial, financial, and agricultural
    
    
    2,485.7
    
    
    
    194.0
    
    
    
    7.81Real estate  construction
    
    
    1,731.9
    
    
    
    144.4
    
    
    
    8.34Mortgage  commercial
    
    
    1,382.2
    
    
    
    109.6
    
    
    
    7.93Total commercial loans
    
    
    5,599.8
    
    
    
    448.0
    
    
    
    8.00Mortgage  residential
    
    
    556.3
    
    
    
    32.5
    
    
    
    5.84Consumer loans
    
    
    1,526.6
    
    
    
    113.2
    
    
    
    7.41Loans secured with liquid collateral
    
    
    529.3
    
    
    
    35.8
    
    
    
    6.76Total retail loans
    
    
    2,612.2
    
    
    
    181.5
    
    
    
    6.95Total loans1,2
    
    
    8,212.0
    
    
    
    629.5
    
    
    
    7.67Total earning assets at historical cost
    
    
    10,154.9Fair value adjustment on securities available for sale
    
    
    (28.6
    )Total earning assets
    
    
    10,126.3
    
    
    
    726.1
    
    
    
    7.15Other assets
    
    
    871.1Total assets
    
    $
    10,997.4LIABILITIES AND STOCKHOLDERS EQUITYSavings
    
    $
    500.1
    
    
    
    11.8
    
    
    
    2.35
    %Interest-bearing demand
    
    
    2,400.2
    
    
    
    33.7
    
    
    
    1.40Certificates under $100,000
    
    
    1,010.1
    
    
    
    43.6
    
    
    
    4.32Local certificates $100,000 and over
    
    
    412.7
    
    
    
    19.8
    
    
    
    4.80Core interest-bearing deposits
    
    
    4,323.1
    
    
    
    108.9
    
    
    
    2.52National certificates $100,000 and over
    
    
    2,756.7
    
    
    
    148.1
    
    
    
    5.37Total interest-bearing deposits
    
    
    7,079.8
    
    
    
    257.0
    
    
    
    3.63Federal funds purchased and securities sold under agreements to repurchase
    
    
    1,465.0
    
    
    
    68.4
    
    
    
    4.67U.S. Treasury demand
    
    
    9.8
    
    
    
    0.5
    
    
    
    4.77Line of credit and other debt
    
    
    93.4
    
    
    
    7.9
    
    
    
    8.45Total short-term borrowings
    
    
    1,568.2
    
    
    
    76.8
    
    
    
    4.90Long-term debt
    
    
    307.3
    
    
    
    19.5
    
    
    
    6.33Total interest-bearing liabilities
    
    
    8,955.3
    
    
    
    353.3
    
    
    
    3.95Demand deposits
    
    
    722.4Other noninterest funds
    
    
    477.2Total funds used to support earning assets
    
    
    10,154.9
    
    
    
    353.3
    
    
    
    3.48Minority interest
    
    
    0.2Stockholders equity
    
    
    1,091.0Equity used to support earning assets
    
    
    (477.2
    )Other liabilities
    
    
    228.5Total liabilities and stockholders equity
    
    $
    10,997.4Net interest
income/margin3
    
    
    
    
    
    
    372.8
    
    
    
    3.67
    %Tax-equivalent adjustment
    
    
    
    
    
    
    (3.9
    )Net interest income
    
    
    
    
    
    $
    368.9
 
 1
    
    Tax-advantaged income has been adjusted
to a tax-equivalent basis using a combined
statutory federal and state income tax rate of
35% for all years.2
    
    Loan balances include nonaccrual loans.
Interest income includes amortization of deferred
loan fees.3
    
    To compute the net interest margin, we
divide net interest income on a fully
tax-equivalent basis by total earning assets, on
average.Note: Average rates are calculated using average
balances based on historical cost and do not reflect
market valuation adjustments. 66    Five-Year Analysis of Earnings and
    
    Wilmington Trust Corporation




---



##### 



2006
    
    
    
    
    2005
    
    
    2004
    
    
    2003Average
    
    
    Income/
    
    
    Average
    
    
    
    
    Average
    
    
    Income/
    
    
    Average
    
    
    Average
    
    
    Income/
    
    
    Average
    
    
    Average
    
    
    Income/
    
    
    Averagebalance
    
    
    expense
    
    
    rate
    
    
    
    
    balance
    
    
    expense
    
    
    rate
    
    
    balance
    
    
    expense
    
    
    rate
    
    
    balance
    
    
    expense
    
    
    rate$
    52.8
    
    
    $
    2.7
    
    
    
    5.04
    %
    
    
    
    $
    33.7
    
    
    $
    1.1
    
    
    
    3.39
    %
    
    $
    23.8
    
    
    $
    0.4
    
    
    
    1.52
    %
    
    $
    28.5
    
    
    $
    0.4
    
    
    
    1.26
    %159.1
    
    
    
    6.0
    
    
    
    3.76
    
    
    
    
    
    125.7
    
    
    
    3.9
    
    
    
    3.05
    
    
    
    187.9
    
    
    
    5.6
    
    
    
    2.97
    
    
    
    302.4
    
    
    
    8.8
    
    
    
    2.90485.9
    
    
    
    20.4
    
    
    
    4.20
    
    
    
    
    
    366.8
    
    
    
    14.1
    
    
    
    3.85
    
    
    
    260.6
    
    
    
    10.2
    
    
    
    3.92
    
    
    
    185.9
    
    
    
    7.7
    
    
    
    4.169.8
    
    
    
    0.9
    
    
    
    8.80
    
    
    
    
    
    11.2
    
    
    
    1.0
    
    
    
    8.75
    
    
    
    13.0
    
    
    
    1.1
    
    
    
    8.70
    
    
    
    15.6
    
    
    
    1.4
    
    
    
    9.0090.6
    
    
    
    6.9
    
    
    
    7.65
    
    
    
    
    
    93.1
    
    
    
    6.9
    
    
    
    7.50
    
    
    
    122.3
    
    
    
    9.1
    
    
    
    7.41
    
    
    
    118.4
    
    
    
    8.8
    
    
    
    7.44792.7
    
    
    
    32.9
    
    
    
    4.15
    
    
    
    
    
    942.0
    
    
    
    38.4
    
    
    
    4.07
    
    
    
    982.5
    
    
    
    39.8
    
    
    
    4.05
    
    
    
    858.2
    
    
    
    36.3
    
    
    
    4.23395.2
    
    
    
    24.2
    
    
    
    6.14
    
    
    
    
    
    357.6
    
    
    
    16.9
    
    
    
    4.73
    
    
    
    308.6
    
    
    
    9.7
    
    
    
    3.15
    
    
    
    250.9
    
    
    
    7.4
    
    
    
    2.951,933.3
    
    
    
    91.3
    
    
    
    4.73
    
    
    
    
    
    1,896.4
    
    
    
    81.2
    
    
    
    4.28
    
    
    
    1,874.9
    
    
    
    75.5
    
    
    
    4.03
    
    
    
    1,731.4
    
    
    
    70.4
    
    
    
    4.072,437.4
    
    
    
    189.6
    
    
    
    7.78
    
    
    
    
    
    2,462.1
    
    
    
    152.2
    
    
    
    6.19
    
    
    
    2,374.4
    
    
    
    107.9
    
    
    
    4.55
    
    
    
    2,209.3
    
    
    
    97.0
    
    
    
    4.391,516.8
    
    
    
    128.5
    
    
    
    8.47
    
    
    
    
    
    982.3
    
    
    
    67.4
    
    
    
    6.87
    
    
    
    731.8
    
    
    
    35.7
    
    
    
    4.88
    
    
    
    612.4
    
    
    
    27.5
    
    
    
    4.491,240.8
    
    
    
    97.6
    
    
    
    7.87
    
    
    
    
    
    1,229.1
    
    
    
    79.3
    
    
    
    6.46
    
    
    
    1,168.6
    
    
    
    58.9
    
    
    
    5.04
    
    
    
    1,044.1
    
    
    
    55.7
    
    
    
    5.345,195.0
    
    
    
    415.7
    
    
    
    8.00
    
    
    
    
    
    4,673.5
    
    
    
    298.9
    
    
    
    6.40
    
    
    
    4,274.8
    
    
    
    202.5
    
    
    
    4.74
    
    
    
    3,865.8
    
    
    
    180.2
    
    
    
    4.66495.2
    
    
    
    28.7
    
    
    
    5.80
    
    
    
    
    
    438.6
    
    
    
    25.9
    
    
    
    5.89
    
    
    
    453.8
    
    
    
    27.4
    
    
    
    6.04
    
    
    
    585.2
    
    
    
    39.1
    
    
    
    6.671,458.2
    
    
    
    104.6
    
    
    
    7.18
    
    
    
    
    
    1,329.3
    
    
    
    84.8
    
    
    
    6.38
    
    
    
    1,134.1
    
    
    
    67.7
    
    
    
    5.97
    
    
    
    1,037.9
    
    
    
    68.1
    
    
    
    6.56551.4
    
    
    
    36.1
    
    
    
    6.54
    
    
    
    
    
    605.7
    
    
    
    28.6
    
    
    
    4.72
    
    
    
    607.7
    
    
    
    17.5
    
    
    
    2.88
    
    
    
    571.1
    
    
    
    15.4
    
    
    
    2.692,504.8
    
    
    
    169.4
    
    
    
    6.76
    
    
    
    
    
    2,373.6
    
    
    
    139.3
    
    
    
    5.86
    
    
    
    2,195.6
    
    
    
    112.6
    
    
    
    5.13
    
    
    
    2,194.2
    
    
    
    122.6
    
    
    
    5.587,699.8
    
    
    
    585.1
    
    
    
    7.60
    
    
    
    
    
    7,047.1
    
    
    
    438.2
    
    
    
    6.22
    
    
    
    6,470.4
    
    
    
    315.1
    
    
    
    4.87
    
    
    
    6,060.0
    
    
    
    302.8
    
    
    
    5.009,685.9
    
    
    
    
    
    
    
    
    
    
    
    
    
    8,977.2
    
    
    
    
    
    
    
    
    
    
    
    8,369.1
    
    
    
    
    
    
    
    
    
    
    
    7,819.9(40.2
    )
    
    
    
    
    
    
    
    
    
    
    
    
    (19.8
    )
    
    
    
    
    
    
    
    
    
    
    (6.4
    )
    
    
    
    
    
    
    
    
    
    
    11.09,645.7
    
    
    
    679.1
    
    
    
    7.01
    
    
    
    
    
    8,957.4
    
    
    
    520.5
    
    
    
    5.80
    
    
    
    8,362.7
    
    
    
    391.0
    
    
    
    4.67
    
    
    
    7,830.9
    
    
    
    373.6
    
    
    
    4.78849.4
    
    
    
    
    
    
    
    
    
    
    
    
    
    845.6
    
    
    
    
    
    
    
    
    
    
    
    765.1
    
    
    
    
    
    
    
    
    
    
    
    702.0$
    10,495.1
    
    
    
    
    
    
    
    
    
    
    
    
    $
    9,803.0
    
    
    
    
    
    
    
    
    
    
    $
    9,127.8
    
    
    
    
    
    
    
    
    
    
    $
    8,532.9$
    311.4
    
    
    
    1.3
    
    
    
    0.41
    %
    
    
    
    $
    344.9
    
    
    
    0.9
    
    
    
    0.27
    %
    
    $
    369.1
    
    
    
    0.7
    
    
    
    0.18
    %
    
    $
    366.0
    
    
    
    0.6
    
    
    
    0.16
    %2,365.1
    
    
    
    26.5
    
    
    
    1.12
    
    
    
    
    
    2,303.8
    
    
    
    19.9
    
    
    
    0.86
    
    
    
    2,311.1
    
    
    
    11.6
    
    
    
    0.50
    
    
    
    2,183.9
    
    
    
    9.2
    
    
    
    0.42979.4
    
    
    
    36.5
    
    
    
    3.73
    
    
    
    
    
    824.4
    
    
    
    21.1
    
    
    
    2.56
    
    
    
    768.3
    
    
    
    15.6
    
    
    
    2.03
    
    
    
    834.4
    
    
    
    22.3
    
    
    
    2.67521.7
    
    
    
    23.3
    
    
    
    4.48
    
    
    
    
    
    401.5
    
    
    
    12.1
    
    
    
    3.01
    
    
    
    177.7
    
    
    
    3.0
    
    
    
    1.69
    
    
    
    138.6
    
    
    
    2.4
    
    
    
    1.744,177.6
    
    
    
    87.6
    
    
    
    2.10
    
    
    
    
    
    3,874.6
    
    
    
    54.0
    
    
    
    1.39
    
    
    
    3,626.2
    
    
    
    30.9
    
    
    
    0.85
    
    
    
    3,522.9
    
    
    
    34.5
    
    
    
    0.982,803.9
    
    
    
    143.7
    
    
    
    5.12
    
    
    
    
    
    2,306.6
    
    
    
    77.4
    
    
    
    3.36
    
    
    
    2,039.5
    
    
    
    29.3
    
    
    
    1.44
    
    
    
    1,937.7
    
    
    
    29.2
    
    
    
    1.506,981.5
    
    
    
    231.3
    
    
    
    3.31
    
    
    
    
    
    6,181.2
    
    
    
    131.4
    
    
    
    2.13
    
    
    
    5,665.7
    
    
    
    60.2
    
    
    
    1.06
    
    
    
    5,460.6
    
    
    
    63.7
    
    
    
    1.171,116.2
    
    
    
    53.2
    
    
    
    4.77
    
    
    
    
    
    1,096.3
    
    
    
    35.1
    
    
    
    3.20
    
    
    
    1,106.0
    
    
    
    18.1
    
    
    
    1.64
    
    
    
    944.5
    
    
    
    14.1
    
    
    
    1.4911.1
    
    
    
    0.5
    
    
    
    4.77
    
    
    
    
    
    11.5
    
    
    
    0.3
    
    
    
    3.04
    
    
    
    9.5
    
    
    
    0.1
    
    
    
    1.10
    
    
    
    11.6
    
    
    
    0.1
    
    
    
    0.878.5
    
    
    
    0.5
    
    
    
    5.95
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.8
    
    
    
    
    
    
    
    1.52
    
    
    
    19.6
    
    
    
    0.3
    
    
    
    1.661,135.8
    
    
    
    54.2
    
    
    
    4.77
    
    
    
    
    
    1,107.8
    
    
    
    35.4
    
    
    
    3.20
    
    
    
    1,116.3
    
    
    
    18.2
    
    
    
    1.63
    
    
    
    975.7
    
    
    
    14.5
    
    
    
    1.49394.4
    
    
    
    26.2
    
    
    
    6.65
    
    
    
    
    
    405.5
    
    
    
    20.9
    
    
    
    5.15
    
    
    
    407.3
    
    
    
    13.7
    
    
    
    3.36
    
    
    
    345.8
    
    
    
    13.5
    
    
    
    3.918,511.7
    
    
    
    311.7
    
    
    
    3.66
    
    
    
    
    
    7,694.5
    
    
    
    187.7
    
    
    
    2.44
    
    
    
    7,189.3
    
    
    
    92.1
    
    
    
    1.28
    
    
    
    6,782.1
    
    
    
    91.7
    
    
    
    1.35759.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    992.0
    
    
    
    
    
    
    
    
    
    
    
    927.5
    
    
    
    
    
    
    
    
    
    
    
    833.3415.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    290.7
    
    
    
    
    
    
    
    
    
    
    
    252.3
    
    
    
    
    
    
    
    
    
    
    
    204.59,685.9
    
    
    
    311.7
    
    
    
    3.22
    
    
    
    
    
    8,977.2
    
    
    
    187.7
    
    
    
    2.09
    
    
    
    8,369.1
    
    
    
    92.1
    
    
    
    1.10
    
    
    
    7,819.9
    
    
    
    91.7
    
    
    
    1.180.3
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.2
    
    
    
    
    
    
    
    
    
    
    
    0.4
    
    
    
    
    
    
    
    
    
    
    
    0.11,059.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    949.3
    
    
    
    
    
    
    
    
    
    
    
    854.3
    
    
    
    
    
    
    
    
    
    
    
    773.0(415.1
    )
    
    
    
    
    
    
    
    
    
    
    
    
    (290.7
    )
    
    
    
    
    
    
    
    
    
    
    (252.3
    )
    
    
    
    
    
    
    
    
    
    
    (204.5
    )164.9
    
    
    
    
    
    
    
    
    
    
    
    
    
    167.0
    
    
    
    
    
    
    
    
    
    
    
    156.3
    
    
    
    
    
    
    
    
    
    
    
    144.4$
    10,495.1
    
    
    
    
    
    
    
    
    
    
    
    
    $
    9,803.0
    
    
    
    
    
    
    
    
    
    
    $
    9,127.8
    
    
    
    
    
    
    
    
    
    
    $
    8,532.9367.4
    
    
    
    3.79
    %
    
    
    
    
    
    
    
    
    332.8
    
    
    
    3.71
    %
    
    
    
    
    
    
    298.9
    
    
    
    3.57
    %
    
    
    
    
    
    
    281.9
    
    
    
    3.60
    %(4.3
    )
    
    
    
    
    
    
    
    
    
    
    
    
    (3.9
    )
    
    
    
    
    
    
    
    
    
    
    (4.5
    )
    
    
    
    
    
    
    
    
    
    
    (4.8
    )$
    363.1
    
    
    
    
    
    
    
    
    
    
    
    
    $
    328.9
    
    
    
    
    
    
    
    
    
    
    $
    294.4
    
    
    
    
    
    
    
    
    
    
    $
    277.1
 2007 Annual Report
    
    67




---



##### 



FIVE-YEAR COMPARISON OF  CONSOLIDATED AVERAGE STATEMENTS OF CONDITION
 For the year ended December 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004
    
    
    2003ASSETSCash and due from banks
    
    $
    208.7
    
    
    $
    210.6
    
    
    $
    229.2
    
    
    $
    212.2
    
    
    $
    190.2Federal funds sold and securities
purchased under agreements to resell
    
    
    38.4
    
    
    
    52.8
    
    
    
    33.7
    
    
    
    23.8
    
    
    
    28.5Investment securities:U.S. Treasury
    
    
    103.0
    
    
    
    156.5
    
    
    
    124.4
    
    
    
    189.0
    
    
    
    308.1Government agencies
    
    
    657.8
    
    
    
    478.9
    
    
    
    363.8
    
    
    
    262.2
    
    
    
    190.7Obligations of state and political subdivisions
    
    
    14.7
    
    
    
    10.0
    
    
    
    11.5
    
    
    
    13.5
    
    
    
    16.4Preferred stock
    
    
    66.2
    
    
    
    90.2
    
    
    
    94.0
    
    
    
    120.9
    
    
    
    118.4Mortgage-backed securities
    
    
    647.5
    
    
    
    761.9
    
    
    
    925.0
    
    
    
    973.6
    
    
    
    861.1Other securities
    
    
    386.7
    
    
    
    395.6
    
    
    
    357.9
    
    
    
    309.3
    
    
    
    247.7Total investment securities
    
    
    1,875.9
    
    
    
    1,893.1
    
    
    
    1,876.6
    
    
    
    1,868.5
    
    
    
    1,742.4Loans:Commercial, financial, and agricultural
    
    
    2,485.7
    
    
    
    2,437.4
    
    
    
    2,462.1
    
    
    
    2,374.4
    
    
    
    2,209.3Real estate  construction
    
    
    1,731.9
    
    
    
    1,516.8
    
    
    
    982.3
    
    
    
    731.8
    
    
    
    612.4Mortgage  commercial
    
    
    1,382.2
    
    
    
    1,240.8
    
    
    
    1,229.1
    
    
    
    1,168.6
    
    
    
    1,044.1Total commercial loans
    
    
    5,599.8
    
    
    
    5,195.0
    
    
    
    4,673.5
    
    
    
    4,274.8
    
    
    
    3,865.8Mortgage  residential
    
    
    556.3
    
    
    
    495.2
    
    
    
    438.6
    
    
    
    453.8
    
    
    
    585.2Consumer loans
    
    
    1,526.6
    
    
    
    1,458.2
    
    
    
    1,329.3
    
    
    
    1,134.1
    
    
    
    1,037.9Loans secured with liquid collateral
    
    
    529.3
    
    
    
    551.4
    
    
    
    605.7
    
    
    
    607.7
    
    
    
    571.1Total retail loans
    
    
    2,612.2
    
    
    
    2,504.8
    
    
    
    2,373.6
    
    
    
    2,195.6
    
    
    
    2,194.2Total loans net of unearned income
    
    
    8,212.0
    
    
    
    7,699.8
    
    
    
    7,047.1
    
    
    
    6,470.4
    
    
    
    6,060.0Reserve for loan losses
    
    
    (95.5
    )
    
    
    (91.8
    )
    
    
    (90.9
    )
    
    
    (90.3
    )
    
    
    (86.7
    )Net loans
    
    
    8,116.5
    
    
    
    7,608.0
    
    
    
    6,956.2
    
    
    
    6,380.1
    
    
    
    5,973.3Premises and equipment
    
    
    149.6
    
    
    
    150.6
    
    
    
    148.9
    
    
    
    152.0
    
    
    
    153.4Goodwill
    
    
    314.3
    
    
    
    339.6
    
    
    
    341.4
    
    
    
    290.9
    
    
    
    244.1Other intangibles
    
    
    36.6
    
    
    
    37.4
    
    
    
    41.5
    
    
    
    31.1
    
    
    
    22.1Other assets
    
    
    257.4
    
    
    
    203.0
    
    
    
    175.5
    
    
    
    169.2
    
    
    
    178.9Total assets
    
    $
    10,997.4
    
    
    $
    10,495.1
    
    
    $
    9,803.0
    
    
    $
    9,127.8
    
    
    $
    8,532.9LIABILITIES AND STOCKHOLDERS EQUITYDeposits:Noninterest-bearing demand
    
    $
    722.4
    
    
    $
    759.1
    
    
    $
    992.0
    
    
    $
    927.5
    
    
    $
    833.3Interest-bearing:Savings
    
    
    500.1
    
    
    
    311.4
    
    
    
    344.9
    
    
    
    369.1
    
    
    
    366.0Interest-bearing demand
    
    
    2,400.2
    
    
    
    2,365.1
    
    
    
    2,303.8
    
    
    
    2,311.1
    
    
    
    2,183.9Certificates under $100,000
    
    
    1,010.1
    
    
    
    979.4
    
    
    
    824.4
    
    
    
    768.3
    
    
    
    834.4Local certificates $100,000 and over
    
    
    412.7
    
    
    
    521.7
    
    
    
    401.5
    
    
    
    177.7
    
    
    
    138.6Total core deposits
    
    
    5,045.5
    
    
    
    4,936.7
    
    
    
    4,866.6
    
    
    
    4,553.7
    
    
    
    4,356.2National certificates $100,000 and over
    
    
    2,756.7
    
    
    
    2,803.9
    
    
    
    2,306.6
    
    
    
    2,039.5
    
    
    
    1,937.7Total deposits
    
    
    7,802.2
    
    
    
    7,740.6
    
    
    
    7,173.2
    
    
    
    6,593.2
    
    
    
    6,293.9Short-term borrowings:Federal funds purchased and securities sold
under agreements to repurchase
    
    
    1,465.0
    
    
    
    1,116.2
    
    
    
    1,096.3
    
    
    
    1,106.0
    
    
    
    944.5U.S. Treasury demand
    
    
    9.8
    
    
    
    11.1
    
    
    
    11.5
    
    
    
    9.5
    
    
    
    11.6Line of credit and other debt
    
    
    93.4
    
    
    
    8.5
    
    
    
    
    
    
    
    0.8
    
    
    
    19.6Total short-term borrowings
    
    
    1,568.2
    
    
    
    1,135.8
    
    
    
    1,107.8
    
    
    
    1,116.3
    
    
    
    975.7Other liabilities
    
    
    228.5
    
    
    
    164.9
    
    
    
    167.0
    
    
    
    156.3
    
    
    
    144.4Long-term debt
    
    
    307.3
    
    
    
    394.4
    
    
    
    405.5
    
    
    
    407.3
    
    
    
    345.8Total liabilities
    
    
    9,906.2
    
    
    
    9,435.7
    
    
    
    8,853.5
    
    
    
    8,273.1
    
    
    
    7,759.8Minority interest
    
    
    0.2
    
    
    
    0.3
    
    
    
    0.2
    
    
    
    0.4
    
    
    
    0.1Stockholders equity
    
    
    1,091.0
    
    
    
    1,059.1
    
    
    
    949.3
    
    
    
    854.3
    
    
    
    773.0Total liabilities and stockholders equity
    
    $
    10,997.4
    
    
    $
    10,495.1
    
    
    $
    9,803.0
    
    
    $
    9,127.8
    
    
    $
    8,532.9
 68     Five-Year Comparison of Consolidated Average Statements of Condition
    
    Wilmington Trust Corporation




---



##### 



FIVE-YEAR
COMPARISON
OF CONSOLIDATED STATEMENTS OF INCOME
 For the year ended December 31 (in millions, except share amounts)
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004
    
    
    2003NET INTEREST INCOMEInterest income
    
    $
    722.2
    
    
    $
    674.8
    
    
    $
    516.6
    
    
    $
    386.5
    
    
    $
    368.8Interest expense
    
    
    353.3
    
    
    
    311.7
    
    
    
    187.7
    
    
    
    92.1
    
    
    
    91.7Net interest income
    
    
    368.9
    
    
    
    363.1
    
    
    
    328.9
    
    
    
    294.4
    
    
    
    277.1Provision for loan losses
    
    
    (28.2
    )
    
    
    (21.3
    )
    
    
    (11.8
    )
    
    
    (15.6
    )
    
    
    (21.6
    )Net interest income after provision for loan losses
    
    
    340.7
    
    
    
    341.8
    
    
    
    317.1
    
    
    
    278.8
    
    
    
    255.5NONINTEREST INCOMEAdvisory fees:Wealth Advisory Services
    
    
    220.1
    
    
    
    192.0
    
    
    
    172.1
    
    
    
    155.6
    
    
    
    140.4Corporate Client Services
    
    
    98.6
    
    
    
    85.6
    
    
    
    76.3
    
    
    
    71.6
    
    
    
    67.3Cramer Rosenthal McGlynn
    
    
    20.7
    
    
    
    19.3
    
    
    
    16.1
    
    
    
    10.9
    
    
    
    5.3Roxbury Capital Management
    
    
    1.2
    
    
    
    1.2
    
    
    
    1.4
    
    
    
    1.6
    
    
    
    (2.3
    )Total advisory fees
    
    
    340.6
    
    
    
    298.1
    
    
    
    265.9
    
    
    
    239.7
    
    
    
    210.7Amortization of affiliate intangibles
    
    
    (4.7
    )
    
    
    (4.2
    )
    
    
    (4.0
    )
    
    
    (2.5
    )
    
    
    (1.7
    )Advisory fees after amortization of affiliate intangibles
    
    
    335.9
    
    
    
    293.9
    
    
    
    261.9
    
    
    
    237.2
    
    
    
    209.0Service charges on deposit accounts
    
    
    28.3
    
    
    
    28.2
    
    
    
    28.1
    
    
    
    31.4
    
    
    
    32.3Other noninterest income
    
    
    21.7
    
    
    
    23.8
    
    
    
    22.5
    
    
    
    18.6
    
    
    
    22.2Securities gains/(losses)
    
    
    0.1
    
    
    
    0.2
    
    
    
    0.8
    
    
    
    (0.5
    )
    
    
    0.7Total noninterest income
    
    
    386.0
    
    
    
    346.1
    
    
    
    313.3
    
    
    
    286.7
    
    
    
    264.2Net interest and noninterest income
    
    
    726.7
    
    
    
    687.9
    
    
    
    630.4
    
    
    
    565.5
    
    
    
    519.7NONINTEREST EXPENSESalaries and wages
    
    
    172.8
    
    
    
    154.4
    
    
    
    139.8
    
    
    
    134.7
    
    
    
    124.1Incentives and bonuses
    
    
    46.9
    
    
    
    39.8
    
    
    
    38.0
    
    
    
    35.1
    
    
    
    31.1Employment benefits
    
    
    50.9
    
    
    
    48.3
    
    
    
    47.2
    
    
    
    40.7
    
    
    
    35.6Net occupancy
    
    
    28.3
    
    
    
    25.7
    
    
    
    22.4
    
    
    
    21.2
    
    
    
    20.6Furniture, equipment, and supplies
    
    
    39.2
    
    
    
    38.3
    
    
    
    34.7
    
    
    
    32.1
    
    
    
    28.2Impairment write-down
    
    
    
    
    
    
    72.3
    
    
    
    
    
    
    
    
    
    
    
    Other noninterest expense
    
    
    106.0
    
    
    
    92.8
    
    
    
    88.0
    
    
    
    86.0
    
    
    
    76.7Total noninterest expense
    
    
    444.1
    
    
    
    471.6
    
    
    
    370.1
    
    
    
    349.8
    
    
    
    316.3NET INCOMEIncome before income taxes and minority interest
    
    
    282.6
    
    
    
    216.3
    
    
    
    260.3
    
    
    
    215.7
    
    
    
    203.4Income tax expense
    
    
    99.7
    
    
    
    72.7
    
    
    
    93.0
    
    
    
    77.9
    
    
    
    71.4Net income before minority interest
    
    
    182.9
    
    
    
    143.6
    
    
    
    167.3
    
    
    
    137.8
    
    
    
    132.0Minority interest
    
    
    0.9
    
    
    
    (0.2
    )
    
    
    0.3
    
    
    
    0.9
    
    
    
    1.1Net income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0
    
    
    $
    136.9
    
    
    $
    130.9Net income per share  basic
    
    $
    2.68
    
    
    $
    2.10
    
    
    $
    2.47
    
    
    $
    2.05
    
    
    $
    1.99Net income per share  diluted
    
    $
    2.64
    
    
    $
    2.06
    
    
    $
    2.43
    
    
    $
    2.02
    
    
    $
    1.97Weighted average shares outstanding (in thousands)Basic
    
    
    67,946
    
    
    
    68,413
    
    
    
    67,688
    
    
    
    66,793
    
    
    
    65,869Diluted
    
    
    68,851
    
    
    
    69,675
    
    
    
    68,570
    
    
    
    67,749
    
    
    
    66,536Net income as a percentage of:Average total assets
    
    
    1.65
    %
    
    
    1.37
    %
    
    
    1.70
    %
    
    
    1.50
    %
    
    
    1.53
    %Average stockholders equity
    
    
    16.68
    %
    
    
    13.58
    %
    
    
    17.59
    %
    
    
    16.02
    %
    
    
    16.93
    %EXCLUDING IMPAIRMENT WRITE-DOWNIncome before income taxes and minority interest
    
    $
    282.6
    
    
    $
    216.3
    
    
    $
    260.3
    
    
    $
    215.7
    
    
    $
    203.4Impairment write-down
    
    
    
    
    
    
    72.3
    
    
    
    
    
    
    
    
    
    
    
    Income before income taxes, minority interest and impairment write-down
    
    
    282.6
    
    
    
    288.6
    
    
    
    260.3
    
    
    
    215.7
    
    
    
    203.4Income tax expense
    
    
    99.7
    
    
    
    103.3
    
    
    
    93.0
    
    
    
    77.9
    
    
    
    71.4Net income before minority interest and impairment write-down
    
    
    182.9
    
    
    
    185.3
    
    
    
    167.3
    
    
    
    137.8
    
    
    
    132.0Minority interest
    
    
    0.9
    
    
    
    (0.2
    )
    
    
    0.3
    
    
    
    0.9
    
    
    
    1.1Net income before impairment write-down
    
    $
    182.0
    
    
    $
    185.5
    
    
    $
    167.0
    
    
    $
    136.9
    
    
    $
    130.9Net income per share  basic
    
    $
    2.68
    
    
    $
    2.71
    
    
    $
    2.47
    
    
    $
    2.05
    
    
    $
    1.99Net income per share  diluted
    
    $
    2.64
    
    
    $
    2.66
    
    
    $
    2.43
    
    
    $
    2.02
    
    
    $
    1.97Weighted average shares outstanding (in thousands):Basic
    
    
    67,946
    
    
    
    68,413
    
    
    
    67,688
    
    
    
    66,793
    
    
    
    65,869Diluted
    
    
    68,851
    
    
    
    69,675
    
    
    
    68,570
    
    
    
    67,749
    
    
    
    66,536Net income as a percentage of:Average total assets
    
    
    1.65
    %
    
    
    1.76
    %
    
    
    1.70
    %
    
    
    1.50
    %
    
    
    1.53
    %Average stockholders equity
    
    
    16.68
    %
    
    
    17.34
    %
    
    
    17.59
    %
    
    
    16.02
    %
    
    
    16.93
    %
 2007 Annual Report
    
    69




---



##### 



SUMMARY
OF CONSOLIDATED
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
 For the quarter ended
    
    2007
    
    
    2006
    

(in millions, except share amounts)
    
    Dec. 31
    
    
    Sept. 30
    
    
    June 30
    
    
    Mar. 31
    
    
    Dec. 31
    
    
    Sept. 30
    
    
    June 30
    
    
    Mar. 31NET INTEREST INCOMEInterest income
    
    $
    177.9
    
    
    $
    183.4
    
    
    $
    180.8
    
    
    $
    180.0
    
    
    $
    182.0
    
    
    $
    175.0
    
    
    $
    165.0
    
    
    $
    152.8Interest expense
    
    
    86.8
    
    
    
    89.3
    
    
    
    88.0
    
    
    
    89.2
    
    
    
    89.6
    
    
    
    82.0
    
    
    
    74.6
    
    
    
    65.5Net interest income
    
    
    91.1
    
    
    
    94.1
    
    
    
    92.8
    
    
    
    90.8
    
    
    
    92.4
    
    
    
    93.0
    
    
    
    90.4
    
    
    
    87.3Provision for loan losses
    
    
    (9.2
    )
    
    
    (8.9
    )
    
    
    (6.5
    )
    
    
    (3.6
    )
    
    
    (6.5
    )
    
    
    (6.6
    )
    
    
    (4.2
    )
    
    
    (4.0
    )Net interest income after provision for
loan losses
    
    
    81.9
    
    
    
    85.2
    
    
    
    86.3
    
    
    
    87.2
    
    
    
    85.9
    
    
    
    86.4
    
    
    
    86.2
    
    
    
    83.3NONINTEREST INCOMEAdvisory fees:Wealth Advisory Services
    
    
    59.1
    
    
    
    56.1
    
    
    
    53.4
    
    
    
    51.5
    
    
    
    51.3
    
    
    
    47.1
    
    
    
    47.0
    
    
    
    46.3Corporate Client Services
    
    
    26.2
    
    
    
    23.6
    
    
    
    24.8
    
    
    
    24.0
    
    
    
    23.4
    
    
    
    21.1
    
    
    
    20.8
    
    
    
    20.4Cramer Rosenthal McGlynn
    
    
    5.5
    
    
    
    4.2
    
    
    
    6.3
    
    
    
    4.7
    
    
    
    5.3
    
    
    
    4.6
    
    
    
    5.5
    
    
    
    4.0Roxbury Capital Management
    
    
    0.4
    
    
    
    0.4
    
    
    
    0.2
    
    
    
    0.1
    
    
    
    0.1
    
    
    
    
    
    
    
    0.3
    
    
    
    0.9Total advisory fees
    
    
    91.2
    
    
    
    84.3
    
    
    
    84.7
    
    
    
    80.3
    
    
    
    80.1
    
    
    
    72.8
    
    
    
    73.6
    
    
    
    71.6Amortization of affiliate intangibles
    
    
    (1.3
    )
    
    
    (1.2
    )
    
    
    (1.1
    )
    
    
    (1.1
    )
    
    
    (1.1
    )
    
    
    (1.1
    )
    
    
    (1.0
    )
    
    
    (1.0
    )Advisory fees after amortization of
affiliate intangibles
    
    
    89.9
    
    
    
    83.1
    
    
    
    83.6
    
    
    
    79.2
    
    
    
    79.0
    
    
    
    71.7
    
    
    
    72.6
    
    
    
    70.6Service charges on deposit accounts
    
    
    7.3
    
    
    
    7.2
    
    
    
    7.0
    
    
    
    6.8
    
    
    
    7.1
    
    
    
    7.3
    
    
    
    7.0
    
    
    
    6.9Other noninterest income
    
    
    5.3
    
    
    
    4.7
    
    
    
    6.2
    
    
    
    5.4
    
    
    
    6.2
    
    
    
    5.5
    
    
    
    6.8
    
    
    
    5.2Securities gains/(losses)
    
    
    0.2
    
    
    
    (0.2
    )
    
    
    0.1
    
    
    
    
    
    
    
    0.2
    
    
    
    0.1
    
    
    
    (0.1
    )
    
    
    Noninterest income
    
    
    102.7
    
    
    
    94.8
    
    
    
    96.9
    
    
    
    91.4
    
    
    
    92.5
    
    
    
    84.6
    
    
    
    86.3
    
    
    
    82.7Net interest and noninterest income
    
    
    184.6
    
    
    
    180.0
    
    
    
    183.2
    
    
    
    178.6
    
    
    
    178.4
    
    
    
    171.0
    
    
    
    172.5
    
    
    
    166.0NONINTEREST EXPENSESalaries and wages
    
    
    45.0
    
    
    
    44.1
    
    
    
    41.9
    
    
    
    41.8
    
    
    
    40.3
    
    
    
    39.5
    
    
    
    37.8
    
    
    
    36.9Incentives and bonuses
    
    
    11.5
    
    
    
    10.0
    
    
    
    11.4
    
    
    
    14.0
    
    
    
    10.3
    
    
    
    8.9
    
    
    
    10.3
    
    
    
    10.3Employment benefits
    
    
    12.0
    
    
    
    12.7
    
    
    
    11.5
    
    
    
    14.6
    
    
    
    11.4
    
    
    
    11.4
    
    
    
    11.9
    
    
    
    13.5Net occupancy
    
    
    7.4
    
    
    
    7.3
    
    
    
    6.8
    
    
    
    6.8
    
    
    
    6.7
    
    
    
    6.7
    
    
    
    6.3
    
    
    
    5.9Furniture, equipment, and supplies
    
    
    9.7
    
    
    
    10.0
    
    
    
    9.8
    
    
    
    9.7
    
    
    
    10.3
    
    
    
    9.2
    
    
    
    9.9
    
    
    
    9.0Other noninterest expense:Advertising and contributions
    
    
    3.2
    
    
    
    2.0
    
    
    
    2.8
    
    
    
    2.7
    
    
    
    3.2
    
    
    
    2.2
    
    
    
    2.1
    
    
    
    1.9Servicing and consulting fees
    
    
    3.4
    
    
    
    2.6
    
    
    
    2.8
    
    
    
    2.4
    
    
    
    2.9
    
    
    
    2.8
    
    
    
    2.4
    
    
    
    2.3Subadvisor expense
    
    
    2.8
    
    
    
    2.7
    
    
    
    2.5
    
    
    
    2.5
    
    
    
    2.3
    
    
    
    2.7
    
    
    
    2.9
    
    
    
    2.8Travel, entertainment, and training
    
    
    3.3
    
    
    
    2.8
    
    
    
    2.4
    
    
    
    2.2
    
    
    
    3.4
    
    
    
    2.5
    
    
    
    2.3
    
    
    
    2.2Originating and processing fees
    
    
    2.9
    
    
    
    2.8
    
    
    
    2.7
    
    
    
    2.5
    
    
    
    3.1
    
    
    
    2.8
    
    
    
    2.4
    
    
    
    2.8Other expense
    
    
    15.7
    
    
    
    13.8
    
    
    
    11.4
    
    
    
    11.2
    
    
    
    11.0
    
    
    
    9.9
    
    
    
    10.0
    
    
    
    9.9Total other noninterest expense
    
    
    31.3
    
    
    
    26.7
    
    
    
    24.6
    
    
    
    23.5
    
    
    
    25.9
    
    
    
    22.9
    
    
    
    22.1
    
    
    
    21.9Total noninterest expense
before impairment
    
    
    116.9
    
    
    
    110.8
    
    
    
    106.0
    
    
    
    110.4
    
    
    
    104.9
    
    
    
    98.6
    
    
    
    98.3
    
    
    
    97.5Impairment write-down
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    72.3
    
    
    
    
    
    
    
    Total noninterest expense
    
    
    116.9
    
    
    
    110.8
    
    
    
    106.0
    
    
    
    110.4
    
    
    
    104.9
    
    
    
    170.9
    
    
    
    98.3
    
    
    
    97.5NET INCOMEIncome before income taxes and
minority interest
    
    
    67.7
    
    
    
    69.2
    
    
    
    77.2
    
    
    
    68.2
    
    
    
    73.5
    
    
    
    0.1
    
    
    
    74.2
    
    
    
    68.5Income tax expense/(benefit)
    
    
    23.6
    
    
    
    22.9
    
    
    
    28.3
    
    
    
    24.6
    
    
    
    26.3
    
    
    
    (5.0
    )
    
    
    27.2
    
    
    
    24.3Net income before minority interest
    
    
    44.1
    
    
    
    46.3
    
    
    
    48.9
    
    
    
    43.6
    
    
    
    47.2
    
    
    
    5.1
    
    
    
    47.0
    
    
    
    44.2Minority interest
    
    
    0.1
    
    
    
    0.1
    
    
    
    
    
    
    
    0.6
    
    
    
    (0.3
    )
    
    
    (0.1
    )
    
    
    0.1
    
    
    
    0.1Net income
    
    $
    44.0
    
    
    $
    46.2
    
    
    $
    48.9
    
    
    $
    43.0
    
    
    $
    47.5
    
    
    $
    5.2
    
    
    $
    46.9
    
    
    $
    44.1Net income per share  basic
    
    $
    0.66
    
    
    $
    0.68
    
    
    $
    0.71
    
    
    $
    0.63
    
    
    $
    0.69
    
    
    $
    0.08
    
    
    $
    0.69
    
    
    $
    0.65Net income per share  diluted
    
    $
    0.65
    
    
    $
    0.67
    
    
    $
    0.70
    
    
    $
    0.62
    
    
    $
    0.68
    
    
    $
    0.07
    
    
    $
    0.67
    
    
    $
    0.64EXCLUDING IMPAIRMENT
WRITE-DOWNIncome before income taxes
and minority interest
    
    $
    67.7
    
    
    $
    69.2
    
    
    $
    77.2
    
    
    $
    68.2
    
    
    $
    73.5
    
    
    $
    0.1
    
    
    $
    74.2
    
    
    $
    68.5Impairment write-down
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    72.3
    
    
    
    
    
    
    
    Income before income taxes, minority
interest, and impairment write-down
    
    
    67.7
    
    
    
    69.2
    
    
    
    77.2
    
    
    
    68.2
    
    
    
    73.5
    
    
    
    72.4
    
    
    
    74.2
    
    
    
    68.5Income tax expense
    
    
    23.6
    
    
    
    22.9
    
    
    
    28.3
    
    
    
    24.6
    
    
    
    26.3
    
    
    
    25.6
    
    
    
    27.2
    
    
    
    24.3Net income before minority interest
and impairment write-down
    
    
    44.1
    
    
    
    46.3
    
    
    
    48.9
    
    
    
    43.6
    
    
    
    47.2
    
    
    
    46.8
    
    
    
    47.0
    
    
    
    44.2Minority interest
    
    
    0.1
    
    
    
    0.1
    
    
    
    
    
    
    
    0.6
    
    
    
    (0.3
    )
    
    
    (0.1
    )
    
    
    0.1
    
    
    
    0.1Net income before impairment write-down
    
    $
    44.0
    
    
    $
    46.2
    
    
    $
    48.9
    
    
    $
    43.0
    
    
    $
    47.5
    
    
    $
    46.9
    
    
    $
    46.9
    
    
    $
    44.1Net income per share  basic
    
    $
    0.66
    
    
    $
    0.68
    
    
    $
    0.71
    
    
    $
    0.63
    
    
    $
    0.69
    
    
    $
    0.68
    
    
    $
    0.69
    
    
    $
    0.65Net income per share  diluted
    
    $
    0.65
    
    
    $
    0.67
    
    
    $
    0.70
    
    
    $
    0.62
    
    
    $
    0.68
    
    
    $
    0.68
    
    
    $
    0.67
    
    
    $
    0.64
 70    Summary of Consolidated Quarterly Results of Operations (unaudited)
    
    Wilmington Trust Corporation




---



##### 



CONSOLIDATED STATEMENTS OF CONDITION
 As of December 31 (in millions, except share amounts)
    
    2007
    
    
    2006ASSETSCash and due from banks
    
    $
    260.5
    
    
    $
    249.7Federal funds sold and securities purchased under
agreements to resell
    
    
    134.0
    
    
    
    68.9Investment securities available for sale
    
    
    1,867.1
    
    
    
    2,112.9Investment
securities held to maturity (fair value of $2.1 in 2007 and $1.8 in 2006)
    
    
    2.1
    
    
    
    1.7Loans:Commercial, financial, and agricultural
    
    
    2,594.9
    
    
    
    2,533.5Real estate  construction
    
    
    1,780.4
    
    
    
    1,663.9Mortgage  commercial
    
    
    1,463.4
    
    
    
    1,296.1Total commercial loans
    
    
    5,838.7
    
    
    
    5,493.5Mortgage  residential
    
    
    562.0
    
    
    
    536.9Consumer loans
    
    
    1,571.6
    
    
    
    1,517.0Loans secured with liquid collateral
    
    
    503.5
    
    
    
    547.5Total retail loans
    
    
    2,637.1
    
    
    
    2,601.4Total loans, net of unearned income of $5.4 in 2007 and
$6.7 in 2006
    
    
    8,475.8
    
    
    
    8,094.9Reserve for loan losses
    
    
    (101.1
    )
    
    
    (94.2
    )Net loans
    
    
    8,374.7
    
    
    
    8,000.7Premises and equipment, net
    
    
    152.1
    
    
    
    150.3Goodwill, net of accumulated amortization of $29.8 in
2007 and 2006
    
    
    330.0
    
    
    
    291.4Other intangible assets, net of accumulated amortization
of $31.6 in 2007 and $25.7 in 2006
    
    
    38.3
    
    
    
    35.4Accrued interest receivable
    
    
    80.0
    
    
    
    74.0Other assets
    
    
    246.9
    
    
    
    172.0Total assets
    
    $
    11,485.7
    
    
    $
    11,157.0LIABILITIES AND STOCKHOLDERS EQUITYDeposits:Noninterest-bearing demand
    
    $
    966.2
    
    
    $
    913.6Interest-bearing:Savings
    
    
    659.8
    
    
    
    313.8Interest-bearing demand
    
    
    2,471.8
    
    
    
    2,560.6Certificates under $100,000
    
    
    1,011.4
    
    
    
    1,012.6Local certificates $100,000 and over
    
    
    356.3
    
    
    
    474.4Total core deposits
    
    
    5,465.5
    
    
    
    5,275.0National certificates $100,000 and over
    
    
    2,392.0
    
    
    
    3,054.1Total deposits
    
    
    7,857.5
    
    
    
    8,329.1Short-term borrowings:Federal funds purchased and securities sold under
agreements to repurchase
    
    
    1,775.3
    
    
    
    1,130.8U.S. Treasury demand deposits
    
    
    77.3
    
    
    
    13.0Line of credit and other debt
    
    
    139.5
    
    
    
    15.0Total short-term borrowings
    
    
    1,992.1
    
    
    
    1,158.8Accrued interest payable
    
    
    78.5
    
    
    
    75.2Other liabilities
    
    
    169.4
    
    
    
    146.1Long-term debt
    
    
    267.8
    
    
    
    388.5Total liabilities
    
    
    10,365.3
    
    
    
    10,097.7Minority interest
    
    
    0.1
    
    
    
    Stockholders equity:Common stock: $1.00 par value, authorized 150,000,000
shares, issued 78,528,346 shares
    
    
    78.5
    
    
    
    78.5Capital surplus
    
    
    188.1
    
    
    
    168.6Retained earnings
    
    
    1,221.1
    
    
    
    1,130.4Accumulated other comprehensive loss
    
    
    (28.4
    )
    
    
    (52.7
    )Total contributed capital and retained earnings
    
    
    1,459.3
    
    
    
    1,324.8Less: treasury stock: 11,441,800 shares in 2007 and
10,068,832 shares in 2006, at cost
    
    
    (339.0
    )
    
    
    (265.5
    )Total stockholders equity
    
    
    1,120.3
    
    
    
    1,059.3Total liabilities and stockholders equity
    
    $
    11,485.7
    
    
    $
    11,157.0
 See Notes to Consolidated Financial Statements
 2007 Annual Report
    
    71




---



##### 



CONSOLIDATED STATEMENTS OF INCOME
 For the year ended December 31 (in millions, except share amounts)
    
    2007
    
    
    2006
    
    
    2005NET INTEREST INCOMEInterest and fees on loans
    
    $
    627.5
    
    
    $
    583.2
    
    
    $
    436.6Interest and dividends on investment securities:Taxable interest
    
    
    87.4
    
    
    
    82.3
    
    
    
    72.4Tax-exempt interest
    
    
    0.5
    
    
    
    0.6
    
    
    
    0.6Dividends
    
    
    4.8
    
    
    
    6.0
    
    
    
    5.9Interest on federal funds sold and securities purchased under agreements to resell
    
    
    2.0
    
    
    
    2.7
    
    
    
    1.1Total interest income
    
    
    722.2
    
    
    
    674.8
    
    
    
    516.6Interest on deposits
    
    
    257.0
    
    
    
    231.3
    
    
    
    131.4Interest on short-term borrowings
    
    
    76.8
    
    
    
    54.2
    
    
    
    35.4Interest on long-term debt
    
    
    19.5
    
    
    
    26.2
    
    
    
    20.9Total interest expense
    
    
    353.3
    
    
    
    311.7
    
    
    
    187.7Net interest income
    
    
    368.9
    
    
    
    363.1
    
    
    
    328.9Provision for loan losses
    
    
    (28.2
    )
    
    
    (21.3
    )
    
    
    (11.8
    )Net interest income after provision for loan losses
    
    
    340.7
    
    
    
    341.8
    
    
    
    317.1NONINTEREST INCOMEAdvisory fees:Wealth Advisory Services:Trust and investment advisory fees
    
    
    158.6
    
    
    
    136.5
    
    
    
    123.9Mutual fund fees
    
    
    21.4
    
    
    
    20.2
    
    
    
    17.8Planning and other services
    
    
    40.1
    
    
    
    35.3
    
    
    
    30.4Total Wealth Advisory Services
    
    
    220.1
    
    
    
    192.0
    
    
    
    172.1Corporate Client Services:Capital markets services
    
    
    42.9
    
    
    
    37.0
    
    
    
    34.3Entity management services
    
    
    30.0
    
    
    
    26.8
    
    
    
    23.6Retirement services
    
    
    12.9
    
    
    
    11.5
    
    
    
    10.7Investment/cash management services
    
    
    12.8
    
    
    
    10.3
    
    
    
    7.7Total Corporate Client Services
    
    
    98.6
    
    
    
    85.6
    
    
    
    76.3Cramer Rosenthal McGlynn
    
    
    20.7
    
    
    
    19.3
    
    
    
    16.1Roxbury Capital Management
    
    
    1.2
    
    
    
    1.2
    
    
    
    1.4Total advisory fees
    
    
    340.6
    
    
    
    298.1
    
    
    
    265.9Amortization of affiliate intangibles
    
    
    (4.7
    )
    
    
    (4.2
    )
    
    
    (4.0
    )Advisory fees after amortization of affiliate intangibles
    
    
    335.9
    
    
    
    293.9
    
    
    
    261.9Service charges on deposit accounts
    
    
    28.3
    
    
    
    28.2
    
    
    
    28.1Loan fees and late charges
    
    
    8.6
    
    
    
    8.0
    
    
    
    7.2Card fees
    
    
    7.2
    
    
    
    9.2
    
    
    
    8.1Other noninterest income
    
    
    5.9
    
    
    
    6.6
    
    
    
    7.2Securities gains
    
    
    0.1
    
    
    
    0.2
    
    
    
    0.8Total noninterest income
    
    
    386.0
    
    
    
    346.1
    
    
    
    313.3Net interest and noninterest income
    
    $
    726.7
    
    
    $
    687.9
    
    
    $
    630.4
  72   Consolidated Statements of Income
    
    Wilmington Trust Corporation




---



##### 



For the year ended December 31 (in millions, except share amounts)
    
    2007
    
    
    2006
    
    
    2005NONINTEREST EXPENSESalaries and wages
    
    $
    172.8
    
    
    $
    154.4
    
    
    $
    139.8Incentives and bonuses
    
    
    46.9
    
    
    
    39.8
    
    
    
    38.0Employment benefits
    
    
    50.9
    
    
    
    48.3
    
    
    
    47.2Net occupancy
    
    
    28.3
    
    
    
    25.7
    
    
    
    22.4Furniture, equipment, and supplies
    
    
    39.2
    
    
    
    38.3
    
    
    
    34.7Advertising and contributions
    
    
    10.7
    
    
    
    9.4
    
    
    
    9.1Servicing and consulting fees
    
    
    11.2
    
    
    
    10.4
    
    
    
    10.2Subadvisor expense
    
    
    10.5
    
    
    
    10.7
    
    
    
    9.4Travel, entertainment, and training
    
    
    10.7
    
    
    
    10.4
    
    
    
    8.8Originating and processing fees
    
    
    10.9
    
    
    
    11.1
    
    
    
    10.5Impairment write-down
    
    
    
    
    
    
    72.3
    
    
    
    Other noninterest expense
    
    
    52.0
    
    
    
    40.8
    
    
    
    40.0Total noninterest expense
    
    
    444.1
    
    
    
    471.6
    
    
    
    370.1NET INCOMEIncome before income taxes and minority interest
    
    
    282.6
    
    
    
    216.3
    
    
    
    260.3Income tax expense
    
    
    99.7
    
    
    
    72.7
    
    
    
    93.0Net income before minority interest
    
    $
    182.9
    
    
    $
    143.6
    
    
    $
    167.3Minority interest
    
    
    0.9
    
    
    
    (0.2
    )
    
    
    0.3Net income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0Net income per share:Basic
    
    $
    2.68
    
    
    $
    2.10
    
    
    $
    2.47Diluted
    
    $
    2.64
    
    
    $
    2.06
    
    
    $
    2.43Weighted average shares outstanding (in thousands):Basic
    
    
    67,946
    
    
    
    68,413
    
    
    
    67,688Diluted
    
    
    68,851
    
    
    
    69,675
    
    
    
    68,570
 See Notes to Consolidated Financial Statements
 2007 Annual Report
    
    73




---



##### 



CONSOLIDATED
STATEMENTS OF
CHANGES IN STOCKHOLDERS EQUITY
 Accumulatedother com-Common
    
    
    Capital
    
    
    Retained
    
    
    prehensive
    
    
    Treasury(In millions, except share amounts)
    
    stock2
    
    
    surplus
    
    
    earnings
    
    
    loss3
    
    
    stock
    
    
    Total2007Balance at January 1, 2007
    
    $
    78.5
    
    
    $
    168.6
    
    
    $
    1,130.4
    
    
    $
    (52.7
    )
    
    $
    (265.5
    )
    
    $
    1,059.3Comprehensive income:Net income
    
    
    
    
    
    
    
    
    
    
    182.0
    
    
    
    
    
    
    
    
    
    
    
    182.0Other comprehensive
income1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    24.3
    
    
    
    
    
    
    
    24.3Total comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    206.3Cash
dividends paid: $1.32 per share
    
    
    
    
    
    
    
    
    
    
    (89.9
    )
    
    
    
    
    
    
    
    
    
    
    (89.9
    )Common stock issued under employment
benefit plans
and to the Board of Directors (807,955
shares issued)
    
    
    
    
    
    
    10.1
    
    
    
    
    
    
    
    
    
    
    
    13.0
    
    
    
    23.1Stock-based compensation
expense
    
    
    
    
    
    
    8.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8.1Acquisition of treasury stock (2,180,923
shares acquired)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (86.5
    )
    
    
    (86.5
    )Adoption of FASB
Interpretation No. 48
    
    
    
    
    
    
    
    
    
    
    (1.4
    )
    
    
    
    
    
    
    
    
    
    
    (1.4
    )Tax benefits from stock-based
compensation costs
    
    
    
    
    
    
    1.3
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1.3Balance at December 31,
2007
    
    $
    78.5
    
    
    $
    188.1
    
    
    $
    1,221.1
    
    
    $
    (28.4
    )
    
    $
    (339.0
    )
    
    $
    1,120.32006Balance at January 1, 2006
    
    $
    78.5
    
    
    $
    145.0
    
    
    $
    1,071.7
    
    
    $
    (21.8
    )
    
    $
    (255.7
    )
    
    $
    1,017.7Comprehensive income:Net income
    
    
    
    
    
    
    
    
    
    
    143.8
    
    
    
    
    
    
    
    
    
    
    
    143.8Other comprehensive
income1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3.5
    
    
    
    
    
    
    
    3.5Total comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    147.3Effect of adopting SFAS
158, net of taxes of $(18.6)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (34.4
    )
    
    
    
    
    
    
    (34.4
    )Cash
dividends paid: $1.245 per share
    
    
    
    
    
    
    
    
    
    
    (85.1
    )
    
    
    
    
    
    
    
    
    
    
    (85.1
    )Common stock issued under employment
benefit plans
and to the Board of Directors
(1,219,231 shares issued)
    
    
    
    
    
    
    11.3
    4
    
    
    
    
    
    
    
    
    
    
    19.3
    
    
    
    30.6Stock-based compensation
expense
    
    
    
    
    
    
    7.8
    5
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    7.8Acquisition of treasury stock (662,996
shares acquired)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (29.1
    )
    
    
    (29.1
    )Tax benefits from stock-based
compensation costs
    
    
    
    
    
    
    4.5
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    4.5Balance at December 31,
2006
    
    $
    78.5
    
    
    $
    168.6
    
    
    $
    1,130.4
    
    
    $
    (52.7
    )
    
    $
    (265.5
    )
    
    $
    1,059.3
  74   Consolidated Statements of Changes in Stockholders Equity
    
    Wilmington Trust Corporation




---



##### 



Accumulatedother com-Common
    
    Capital
    
    Retained
    
    prehensive
    
    Treasury(In millions, except share amounts)
    
    stock2
    
    surplus
    
    earnings
    
    loss3
    
    stock
    
    Total2005Balance at January 1, 2005
    
    $
    78.5
    
    
    $
    129.7
    
    
    $
    984.9
    
    
    $
    (22.7
    )
    
    $
    (261.0
    )
    
    $
    909.4Comprehensive income:Net income
    
    
    
    
    
    
    
    
    
    
    167.0
    
    
    
    
    
    
    
    
    
    
    
    167.0Other comprehensive income1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.9
    
    
    
    
    
    
    
    0.9Total comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    167.9Cash dividends paid: $1.185 per share
    
    
    
    
    
    
    
    
    
    
    (80.2
    )
    
    
    
    
    
    
    
    
    
    
    (80.2
    )Common stock issued under employment benefit plans
and to the Board of Directors (551,509 shares issued)
    
    
    
    
    
    
    7.2

4
    
    
    
    
    
    
    
    
    
    
    7.2
    
    
    
    14.4Stock-based compensation expense
    
    
    
    
    
    
    7.0

5
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    7.0Acquisition of treasury stock (53,652 shares acquired)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1.9
    )
    
    
    (1.9
    )Tax benefits from stock-based compensation costs
    
    
    
    
    
    
    1.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1.1Balance at December 31, 2005
    
    $
    78.5
    
    
    $
    145.0
    
    
    $
    1,071.7
    
    
    $
    (21.8
    )
    
    $
    (255.7
    )
    
    $
    1,017.7
 Other comprehensive income
 (In millions)
    
    2007
    
    
    2006
    
    
    2005Other comprehensive income, net of tax:Net unrealized gains/(losses) on securities, net of taxes of $(2.6), $2.9, and $(10.3)
    
    $
    (4.5
    )
    
    $
    5.0
    
    
    $
    (18.3
    )Reclassification adjustment for securities losses/(gains) included in net income, net of income taxes of $0.0, $(0.1), and
$(0.3)
    
    
    (0.1
    )
    
    
    (0.1
    )
    
    
    (0.5
    )Net unrealized holding gains/(losses) arising during the year on derivatives used for cash flow hedges,
net of taxes of $8.3, $(1.5), and $0.0
    
    
    15.4
    
    
    
    (2.7
    )
    
    
    Reclassification adjustment for derivative gains included in net income, net of income taxes of $0.0, $0.0, and $(0.1)
    
    
    
    
    
    
    
    
    
    
    (0.1
    )Reclassification adjustment of derivative costs, net of income taxes of $0.7, $0.1, and $0.0
    
    
    1.3
    
    
    
    0.1
    
    
    
    Foreign currency translation adjustments, net of income taxes of $0.2, $0.7, and $(0.2)
    
    
    0.3
    
    
    
    1.2
    
    
    
    (0.5
    )SERP6 liability adjustment, net of income taxes of $(0.4), $0.0, and $0.3
    
    
    (0.7
    )
    
    
    
    
    
    
    0.6Postretirement benefits liability adjustment, net of income taxes of $0.4, $0.0, and $0.0
    
    
    0.4
    
    
    
    
    
    
    
    Minimum pension liability adjustment, net of income taxes of $6.5, $0.0, and $10.6
    
    
    12.2
    
    
    
    
    
    
    
    19.7Total other comprehensive income
    
    $
    24.3
    
    
    $
    3.5
    
    
    $
    0.9
 
 2
    
    Shares outstanding at December 31, 2007, 2006, and 2005, respectively, were 67,086,546, 68,459,514, and 67,903,2793
    
    See Note 21 for accumulated other comprehensive loss information4
    
    Includes reclass of $(0.8) for 2006 and $(0.4) for 20055
    
    Includes reclass of $0.8 for 2006 and $0.4 for 20056
    
    Supplemental executive retirement plan See Notes to Consolidated Financial Statements
 2007 Annual Report
    
    75




---



##### 



CONSOLIDATED STATEMENTS OF CASH FLOWS
 For the year ended December 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005OPERATING ACTIVITIESNet income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0Adjustments to reconcile net income to net cash provided by operating activities:Provision for loan losses
    
    
    28.2
    
    
    
    21.3
    
    
    
    11.8Provision for depreciation and other amortization
    
    
    22.8
    
    
    
    21.8
    
    
    
    19.3Impairment write-down
    
    
    
    
    
    
    72.3
    
    
    
    Amortization of other intangible assets
    
    
    5.9
    
    
    
    5.4
    
    
    
    5.3Minority interest in net income
    
    
    0.9
    
    
    
    (0.2
    )
    
    
    0.3(Accretion)/amortization of discounts and premiums on investment securities available for sale
    
    
    (1.4
    )
    
    
    0.3
    
    
    
    3.8Deferred income taxes
    
    
    (14.7
    )
    
    
    (32.5
    )
    
    
    5.9Originations of residential mortgages available for sale
    
    
    (115.7
    )
    
    
    (82.4
    )
    
    
    (114.0
    )Gross proceeds from sales of residential mortgages
    
    
    117.2
    
    
    
    83.2
    
    
    
    115.6Gains on sales of residential mortgages
    
    
    (1.5
    )
    
    
    (0.8
    )
    
    
    (1.6
    )Securities gains
    
    
    (0.1
    )
    
    
    (0.2
    )
    
    
    (0.8
    )Employer pension contributions
    
    
    (10.0
    )
    
    
    (15.0
    )
    
    
    (25.0
    )Stock-based
compensation expense2
    
    
    8.1
    
    
    
    7.8
    
    
    
    7.0Tax benefit realized on employee exercise of stock options
    
    
    (1.3
    )
    
    
    (4.5
    )
    
    
    (1.1
    )(Increase)/decrease in other assets
    
    
    (43.3
    )
    
    
    27.6
    
    
    
    (24.6
    )Increase in other liabilities
    
    
    46.0
    
    
    
    22.2
    
    
    
    40.6Net cash provided by operating activities
    
    $
    223.1
    
    
    $
    270.1
    
    
    $
    209.5INVESTING ACTIVITIESProceeds from sales of investment securities available for sale
    
    $
    52.9
    
    
    $
    28.4
    
    
    $
    28.4Proceeds from maturities of investment securities available for sale
    
    
    1,332.4
    
    
    
    1,404.0
    
    
    
    528.4Proceeds from maturities of investment securities held to maturity
    
    
    0.5
    
    
    
    0.8
    
    
    
    0.7Purchases of investment securities available for sale
    
    
    (1,145.2
    )
    
    
    (1,611.4
    )
    
    
    (705.3
    )Purchases of investment securities held to maturity
    
    
    (0.9
    )
    
    
    
    
    
    
    (0.1
    )Investments in affiliates
    
    
    (17.9
    )
    
    
    (13.3
    )
    
    
    Cash paid for acquisitions
    
    
    (30.7
    )
    
    
    (4.7
    )
    
    
    (0.6
    )Purchase of client list
    
    
    
    
    
    
    (0.9
    )
    
    
    Purchases of residential mortgages
    
    
    (7.0
    )
    
    
    (11.7
    )
    
    
    (9.4
    )Net increase in loans
    
    
    (395.2
    )
    
    
    (704.0
    )
    
    
    (635.4
    )Purchases of premises and equipment
    
    
    (20.8
    )
    
    
    (24.1
    )
    
    
    (17.0
    )Dispositions of premises and equipment
    
    
    0.2
    
    
    
    1.7
    
    
    
    0.8Increase in interest rate floor contracts
    
    
    
    
    
    
    (20.7
    )
    
    
    (0.2
    )Swap termination
    
    
    
    
    
    
    (12.7
    )
    
    
    Net cash used for investing activities
    
    $
    (231.7
    )
    
    $
    (968.6
    )
    
    $
    (809.7
    )
  76   Consolidated Statements of Cash Flows
    
    Wilmington Trust Corporation




---



##### 



For the year ended December 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005FINANCING ACTIVITIESNet increase/(decrease) in demand, savings, and interest-bearing demand deposits
    
    $
    309.8
    
    
    $
    86.9
    
    
    $
    (215.7
    )Net (decrease)/increase in certificates of deposit
    
    
    (781.4
    )
    
    
    953.0
    
    
    
    633.0Net increase/(decrease) in federal funds purchased and securities sold under
agreements to repurchase
    
    
    644.5
    
    
    
    (224.8
    )
    
    
    235.4Net increase/(decrease) in U.S. Treasury demand deposits
    
    
    64.3
    
    
    
    (5.1
    )
    
    
    (19.0
    )Maturity of long-term debt
    
    
    
    
    
    
    (7.5
    )
    
    
    Net increase in line of credit
    
    
    
    
    
    
    15.0
    
    
    
    Cash dividends
    
    
    (89.9
    )
    
    
    (85.1
    )
    
    
    (80.2
    )Distributions to minority shareholders
    
    
    (0.8
    )
    
    
    
    
    
    
    (0.2
    )Proceeds
from common stock issued under employment and director benefit
plan3
    
    
    23.1
    
    
    
    30.6
    
    
    
    14.4Tax benefit realized on employee exercise of stock options
    
    
    1.3
    
    
    
    4.5
    
    
    
    1.1Acquisition of treasury stock
    
    
    (86.5
    )
    
    
    (29.1
    )
    
    
    (1.9
    )Net cash provided by financing activities
    
    
    84.4
    
    
    
    738.4
    
    
    
    566.9Effect of foreign currency translation on cash
    
    
    0.1
    
    
    
    0.4
    
    
    
    (0.3
    )Increase/(decrease) in cash and cash equivalents
    
    
    75.9
    
    
    
    40.3
    
    
    
    (33.6
    )Cash and cash equivalents at beginning of year
    
    
    318.6
    
    
    
    278.3
    
    
    
    311.9Cash and cash equivalents at end of year
    
    $
    394.5
    
    
    $
    318.6
    
    
    $
    278.3SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATIONCash paid during the year for:Interest
    
    $
    349.9
    
    
    $
    282.3
    
    
    $
    167.6Taxes
    
    
    92.6
    
    
    
    104.3
    
    
    
    80.5Liabilities were assumed in connection with our interests in Cramer Rosenthal
McGlynn, LLC and
Roxbury Capital Management, LLC; and with our acquisitions of Binghan Legg
Advisers, LLC;
GTBA Holdings, Inc.; Amaco (Luxembourg) S.A.; PwC Corporate Services (Cayman)
Limited; and
Wilmington Trust SP Services (London) Limited, as follows:Fair value of assets acquired
    
    $
    4.9
    
    
    $
    0.3
    
    
    $
    0.1Goodwill and other intangible assets from acquisitions
    
    
    46.2
    
    
    
    19.2
    
    
    
    12.6Cash paid
    
    
    (48.6
    )
    
    
    (18.9
    )
    
    
    (0.6
    )Liabilities assumed
    
    $
    2.5
    
    
    $
    0.6
    
    
    $
    12.1Non-cash items during the year:Net unrealized (losses)/gains on securities, net of tax of $(2.6), $2.8, and
$(10.6), respectively
    
    $
    (4.6
    )
    
    $
    4.9
    
    
    $
    (18.8
    )Net unrealized holding gains/(losses) on derivatives used for cash flow hedges,
net of tax of $8.3, $(1.5), and $0.0, respectively
    
    
    15.4
    
    
    
    (2.7
    )
    
    
    Foreign currency translation adjustment, net of tax of $0.2, $0.7, and $(0.2),
respectively
    
    
    0.3
    
    
    
    1.2
    
    
    
    (0.5
    )Adoption of FASB Interpretation No. 48
    
    
    (1.4
    )
    
    
    
    
    
    
    Reclassification adjustment of derivative costs, net of tax of $0.7, $0.1, and $0.0, respectively
    
    
    1.3
    
    
    
    0.1
    
    
    
    Minimum pension liability adjustment, net of tax of $6.5, $(12.9), and $10.6,
respectively
    
    
    12.2
    
    
    
    (23.9
    )
    
    
    19.7Postretirement benefits liability adjustment, net of tax of $0.4, $(3.9), and
$0.0, respectively
    
    
    0.4
    
    
    
    (7.1
    )
    
    
    SERP1 liability adjustment, net of tax of $(0.4), $(1.8), and $0.3, respectively
    
    
    (0.7
    )
    
    
    (3.4
    )
    
    
    0.6
 1
    
    Supplemental executive retirement
plan2
    
    Includes reclass of $0.8 for 2006 and $0.4 for 20053
    
    Includes reclass of $(0.8) for 2006 and $(0.4) for 2005See Notes to Consolidated Financial
Statements 2007 Annual Report
    
    77




---



##### 



NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS
  1. NATURE OF BUSINESS
    Regional Banking.
   Corporate Client Services (CCS).
  Wealth Advisory Services (WAS).
    
    
    Wilmington Trust of Pennsylvania (WTPA), a Pennsylvania-chartered bank and trust company with
offices in Philadelphia, Bethlehem, Doylestown, Villanova, and West Chester, Pennsylvania.
    
    Wilmington Trust FSB, a federally chartered savings bank with offices in California, Florida,
Georgia, Maryland, Massachusetts, Nevada, New Jersey, and New York.
  
    
    Rodney Square Management Corporation, which oversees the Wilmington family of mutual funds.
    
    Wilmington Trust Investment Management, LLC (WTIM), which sets our investment and asset
allocation policies and
 78     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 




    
    Grant Tani Barash & Altman, LLC (GTBA) and Grant, Tani, Barash & Altman Management, Inc., the
Beverly Hills-based firm through which we offer business management and family office
services.
    
    Wilmington Family Office, Inc. (WFO), through which we provide family office services.
  
    
    WT Investments, Inc. (WTI), which holds interests in five asset management firms: our two
affiliate money managers, Cramer Rosenthal McGlynn, LLC and Roxbury Capital Management, LLC;
Clemente Capital, Inc.; Camden Partners Holdings, LLC; and Camden Partners Private Equity
Advisors, LLC. WTI also holds our interest in Wilmington Trust Conduit Services, LLC, which
provides conduit servicing for special purpose vehicles.
    
    Wilmington Trust (UK) Limited, through which we conduct business outside the United States
through Wilmington Trust SP Services (London) Limited and its subsidiaries.
    
    GTBA Holdings, Inc. (GTBAH), through which we conduct the business of GTBA, Grant, Tani,
Barash & Altman Management, Inc., and WFO.
    
    WTC Camden, Inc., which holds our interest in Camden Partners Equity Managers I, LLC.
    
    Wilmington Trust CI Holdings Limited, which owns Wilmington Trust Corporate Services (Cayman)
Limited and its subsidiaries.
      2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
     APB:
    
    Accounting Principles BoardARB:
    
    Accounting Research BulletinEITF:
    
    Emerging Issues Task ForceFASB:
    
    Financial Accounting Standards BoardFIN:
    
    Financial Interpretation (Number)GAAP:
    
    Generally accepted accounting principlesNYSE:
    
    New York Stock ExchangeSAB:
    
    Staff Accounting BulletinSEC:
    
    Securities and Exchange CommissionSFAS:
    
    Statement of Financial Accounting Standards
  Consolidation.
 2007 Annual Report
    
    79




---



##### 



Cash.
 Investment securities.
 Loans.
   Reserve for loan losses.
 
    
    Charge loans deemed uncollectible against the reserve.
 
    
    Credit recoveries, if any, to the reserve.
 
    
    Reassess the level of the reserve.
 
    
    Have the reserve evaluated by staff members who do not have lending responsibilities.
     80     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Premises and equipment.
 
    
    Buildings and improvements over an estimated useful life of 39 years.
 
    
    Leasehold improvements over the lesser of the assets useful life or the life of the lease
plus renewal options.
 
    
    Furniture and equipment over the lesser of the assets useful life or an estimated useful
life of three, five, or seven years.
  Goodwill and other intangible assets.
   Other real estate owned (OREO).
 Derivative financial instruments.
   2007 Annual Report
    
    81




---



##### 



Revenue recognition.
 Stock-based compensation plans.
 Pension accounting.
 Income taxes.
   Per share data.
 82     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Comprehensive income.
  3. RECENT ACCOUNTING PRONOUNCEMENTS
  SFAS No. 157.
 SFAS No. 158.
  SFAS No. 159.
 SFAS No. 160.
 SFAS No. 141(revised). 141(revised)
 FSP FIN No. 39-1.
 2007 Annual Report
    
    83




---



##### 



SAB No. 109.
 SAB No. 110.
  4. AFFILIATES AND ACQUISITIONS
  Cramer Rosenthal McGlynn.
   At December 31
    
    2007
    
    
    2006
    
    
    2005WTI interest in CRM
    
    
    82.41
    %
    
    
    81.73
    %
    
    
    77.24
    %
    Roxbury Capital Management.
   At December 31
    
    2007
    
    
    2006
    
    
    2005WTI ownership of RCMs preferred profits
    
    
    30
    %
    
    
    30
    %
    
    
    30
    %WTI ownership of RCMs common interests
    
    
    41.23
    %
    
    
    41.23
    %
    
    
    41.23
    %
   84     Notes to Consolidated Financial Statements
    
    
    
    Wilmington Trust Corporation




---



##### 



Underlying equity in affiliate asset manager transactions.
 Investments in affiliates
 At December 31 (in millions)
    
    2007
    
    
    2006Cramer Rosenthal McGlynn
    
    $
    137.2
    
    
    $
    131.3Roxbury Capital Management
    
    $
    76.2
    
    
    $
    65.3
 Camden Partners.
 Grant Tani Barash & Altman.
 Charleston Captive Management Company.
 PwC Corporate Services (Cayman) Limited.
 Wilmington Trust Conduit Services.
 2007 Annual Report
    
    85




---



##### 



Wilmington Trust SP Services (Luxembourg) S.A.
 Bingham Legg Advisers, LLC.
  5. RESTRICTIONS ON CASH AND DUE FROM BANKS
    6. INVESTMENT SECURITIES
     2007
    
    
    2006Amortized
    
    
    Fair
    
    
    Amortized
    
    
    FairBook values (amortized cost) and fair values at December 31 (in millions)
    
    cost
    
    
    value
    
    
    cost
    
    
    valueInvestment securities available for sale:U.S. Treasury
    
    $
    60.0
    
    
    $
    60.2
    
    
    $
    126.6
    
    
    $
    125.2Government agencies
    
    
    639.6
    
    
    
    646.5
    
    
    
    810.6
    
    
    
    807.1Obligations of state and political subdivisions
    
    
    16.7
    
    
    
    16.9
    
    
    
    7.7
    
    
    
    8.1Mortgage-backed debt securities
    
    
    743.1
    
    
    
    730.4
    
    
    
    711.5
    
    
    
    689.3Corporate securities
    
    
    336.2
    
    
    
    317.7
    
    
    
    356.7
    
    
    
    356.8Foreign securities
    
    
    0.5
    
    
    
    0.5
    
    
    
    0.5
    
    
    
    0.5Preferred stock
    
    
    54.2
    
    
    
    44.9
    
    
    
    90.4
    
    
    
    90.5Other marketable equity securities
    
    
    49.9
    
    
    
    50.0
    
    
    
    34.8
    
    
    
    35.4Total
    
    $
    1,900.2
    
    
    $
    1,867.1
    
    
    $
    2,138.8
    
    
    $
    2,112.9Investment securities held to maturity:Obligations of state and political subdivisions
    
    $
    0.9
    
    
    $
    0.9
    
    
    $
    1.4
    
    
    $
    1.5Mortgage-backed securities
    
    
    0.2
    
    
    
    0.2
    
    
    
    0.2
    
    
    
    0.2Other securities
    
    
    1.0
    
    
    
    1.0
    
    
    
    0.1
    
    
    
    0.1Total
    
    $
    2.1
    
    
    $
    2.1
    
    
    $
    1.7
    
    
    $
    1.8
 86     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



2007
    
    
    2006Unrealized
    
    
    Unrealized
    
    
    Unrealized
    
    
    UnrealizedUnrealized gains/(losses) at December 31 (in millions)
    
    gains
    
    
    losses
    
    
    gains
    
    
    lossesInvestment securities available for sale:U.S. Treasury
    
    $
    0.2
    
    
    $
    
    
    
    $
    
    
    
    $
    (1.4
    )Government agencies
    
    
    7.0
    
    
    
    (0.1
    )
    
    
    1.7
    
    
    
    (5.2
    )Obligations of state and political subdivisions
    
    
    0.2
    
    
    
    
    
    
    
    0.4
    
    
    
    Mortgage-backed securities
    
    
    0.6
    
    
    
    (13.3
    )
    
    
    0.2
    
    
    
    (22.4
    )Corporate securities
    
    
    0.4
    
    
    
    (18.8
    )
    
    
    1.9
    
    
    
    (1.8
    )Foreign securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Preferred stocks
    
    
    
    
    
    
    (9.3
    )
    
    
    1.0
    
    
    
    (0.9
    )Other marketable equity securities
    
    
    
    
    
    
    
    
    
    
    0.6
    
    
    
    Total
    
    $
    8.4
    
    
    $
    (41.5
    )
    
    $
    5.8
    
    
    $
    (31.7
    )Investment securities held to maturity:Obligations of state and political subdivisions
    
    $
    
    
    
    $
    
    
    
    $
    0.1
    
    
    $
    Mortgage-backed securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Other securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    $
    
    
    
    $
    
    
    
    $
    0.1
    
    
    $
    
 Contractual maturity of securities
 After
    
    
    After1 year
    
    
    5 years1 year
    
    
    through
    
    
    through
    
    
    AfterDecember 31, 2007 (in millions)
    
    or less
    
    
    5 years
    
    
    10 years
    
    
    10 years
    
    
    TotalBook value (amortized cost) of debt securities available for sale:U.S. Treasury
    
    $
    60.0
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    60.0Government agencies
    
    
    172.1
    
    
    
    344.9
    
    
    
    122.6
    
    
    
    
    
    
    
    639.6Obligations of state and political subdivisions
    
    
    
    
    
    
    0.2
    
    
    
    
    
    
    
    16.5
    
    
    
    16.7Mortgage-backed securities
    
    
    
    
    
    
    9.7
    
    
    
    286.8
    
    
    
    446.6
    
    
    
    743.1Corporate securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    336.2
    
    
    
    336.2Foreign corporate securities
    
    
    0.5
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.5Total book value of debt securities available for sale
    
    $
    232.6
    
    
    $
    354.8
    
    
    $
    409.4
    
    
    $
    799.3
    
    
    $
    1,796.1Fair value of debt securities available for sale
    
    $
    232.7
    
    
    $
    358.8
    
    
    $
    406.0
    
    
    $
    774.7
    
    
    $
    1,772.2Weighted average yield of securities available for sale1
    
    
    4.31
    %
    
    
    4.79
    %
    
    
    4.76
    %
    
    
    5.32
    %
    
    
    4.96
    %Book value
of equity securities available for sale (no stated maturity)
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    104.1Book value of debt securities held to maturity:Obligations of state and political subdivisions
    
    $
    
    
    
    $
    0.9
    
    
    $
    
    
    
    $
    
    
    
    $
    0.9Mortgage-backed securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.2
    
    
    
    0.2Other securities
    
    
    0.2
    
    
    
    0.7
    
    
    
    0.1
    
    
    
    
    
    
    
    1.0Total book value of debt securities held to maturity
    
    $
    0.2
    
    
    $
    1.6
    
    
    $
    0.1
    
    
    $
    0.2
    
    
    $
    2.1Fair value of debt securities held to maturity
    
    $
    0.2
    
    
    $
    1.6
    
    
    $
    0.1
    
    
    $
    0.2
    
    
    $
    2.1Weighted average yield of securities held to maturity1
    
    
    2.75
    %
    
    
    4.31
    %
    
    
    6.73
    %
    
    
    6.90
    %
    
    
    4.92
    %
 
 1
    
    Weighted average yields are not on a tax-equivalent basis.For securities in the tables above, the expected maturities of securities in the table above will
differ from contractual maturities, because issuers may have the right to call or prepay
obligations without incurring penalties. 2007 Annual Report
    
    87




---



##### 



Temporarily impaired securities.
 Fewer than 12 months
    
    
    12 months or more
    
    
    TotalEstimated
    
    
    
    
    
    
    Estimated
    
    
    
    
    
    
    EstimatedFair
    
    
    unrealized
    
    
    Fair
    
    
    unrealized
    
    
    Fair
    
    
    unrealizedTemporarily impaired securities (in millions)
    
    value
    
    
    losses
    
    
    value
    
    
    losses
    
    
    value
    
    
    lossesAs of December 31, 2007U.S. Treasury
    
    $
    20.0
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    20.0
    
    
    $
    Government agencies
    
    
    116.1
    
    
    
    
    
    
    
    82.9
    
    
    
    (0.1
    )
    
    
    199.0
    
    
    
    (0.1
    )Mortgage-backed securities
    
    
    68.3
    
    
    
    (0.5
    )
    
    
    500.2
    
    
    
    (12.8
    )
    
    
    568.5
    
    
    
    (13.3
    )Corporate securities
    
    
    189.3
    
    
    
    (14.4
    )
    
    
    67.3
    
    
    
    (4.4
    )
    
    
    256.6
    
    
    
    (18.8
    )Preferred stock
    
    
    29.6
    
    
    
    (6.6
    )
    
    
    12.3
    
    
    
    (2.7
    )
    
    
    41.9
    
    
    
    (9.3
    )Total temporarily impaired securities
    
    $
    423.3
    
    
    $
    (21.5
    )
    
    $
    662.7
    
    
    $
    (20.0
    )
    
    $
    1,086.0
    
    
    $
    (41.5
    )As of December 31, 2006U.S. Treasury
    
    $
    48.9
    
    
    $
    
    
    
    $
    76.3
    
    
    $
    (1.4
    )
    
    $
    125.2
    
    
    $
    (1.4
    )Government agencies
    
    
    246.5
    
    
    
    (0.5
    )
    
    
    339.1
    
    
    
    (4.7
    )
    
    
    585.6
    
    
    
    (5.2
    )Mortgage-backed securities
    
    
    2.9
    
    
    
    
    
    
    
    662.1
    
    
    
    (22.4
    )
    
    
    665.0
    
    
    
    (22.4
    )Corporate securities
    
    
    72.1
    
    
    
    (0.8
    )
    
    
    58.7
    
    
    
    (1.0
    )
    
    
    130.8
    
    
    
    (1.8
    )Preferred stock
    
    
    33.8
    
    
    
    (0.6
    )
    
    
    5.6
    
    
    
    (0.3
    )
    
    
    39.4
    
    
    
    (0.9
    )Total temporarily impaired securities
    
    $
    404.2
    
    
    $
    (1.9
    )
    
    $
    1,141.8
    
    
    $
    (29.8
    )
    
    $
    1,546.0
    
    
    $
    (31.7
    )
   Sale and write-down of investment securities available for sale
 (In millions)
    
    2007
    
    
    2006
    
    
    2005Proceeds
    
    $
    52.9
    
    
    $
    28.4
    
    
    $
    28.4Gross gains realized
    
    $
    0.1
    
    
    $
    0.4
    
    
    $
    0.7Offsetting losses
    
    $
    (0.2
    )
    
    $
    (0.2
    )
    
    $
    
 Called securities
 (In millions)
    
    2007
    
    
    2006
    
    
    2005Gross gains
    
    $
    0.2
    
    
    $
    
    
    
    $
    0.1Offsetting losses
    
    $
    
    
    
    $
    
    
    
    $
    
 Pledged securities
  88     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



7. LOAN CONCENTRATIONS
  Loan concentrations as a percentage of total loans outstanding
 At December 31
    
    2007
    
    
    2006Commercial, financial, and agricultural
    
    
    31
    %
    
    
    31
    %Commercial real estate/construction
    
    
    21
    
    
    
    21Commercial mortgage
    
    
    17
    
    
    
    16Residential mortgage
    
    
    6
    
    
    
    6Consumer
    
    
    19
    
    
    
    19Secured with liquid collateral
    
    
    6
    
    
    
    7
      8. RESERVE FOR LOAN LOSSES
  Changes in the reserve for loan losses
 (In millions)
    
    2007
    
    
    2006
    
    
    2005Reserve for loan losses at January 1
    
    $
    94.2
    
    
    $
    91.4
    
    
    $
    89.7Charge-offs
    
    
    (29.4
    )
    
    
    (24.6
    )
    
    
    (17.2
    )Recoveries
    
    
    8.1
    
    
    
    6.1
    
    
    
    7.1Net charge-offs
    
    
    (21.3
    )
    
    
    (18.5
    )
    
    
    (10.1
    )Provision charged to operations
    
    
    28.2
    
    
    
    21.3
    
    
    
    11.8Reserve for loan losses at December 31
    
    $
    101.1
    
    
    $
    94.2
    
    
    $
    91.4
   Impaired loans
 For the year ended December 31
(in millions)
    
    2007
    
    
    2006
    
    
    2005Average investment recorded in
impaired loans
    
    $
    37.8
    
    
    $
    32.8
    
    
    $
    47.3Year-end investment recorded in impaired
loans subject to a reserve for loan losses:2007
reserve: $5.5
    
    $
    40.32006 reserve: $4.2
    
    
    
    
    
    $
    21.92005 reserve: $9.8
    
    
    
    
    
    
    
    
    
    $
    37.4Year-end investment in impaired loans
requiring no reserve for loan losses
    
    $
    27.2
    
    
    $
    5.0
    
    
    $
    2.3Year-end investment recorded in
impaired loans
    
    $
    67.5
    
    
    $
    26.9
    
    
    $
    39.7Year-end investment recorded in impaired
loans classified as nonaccruing
    
    $
    43.8
    
    
    $
    26.9
    
    
    $
    39.7Year-end
investment recorded in impaired loans classified as
troubled restructured debt
    
    $
    23.7
    
    
    $
    
    
    
    $
    Interest income recognized
    
    $
    1.9
    
    
    $
    1.2
    
    
    $
    1.3Interest income recognized using the cash
basis method of income recognition
    
    $
    1.9
    
    
    $
    1.2
    
    
    $
    1.3
 Effect of nonaccruing loans on interest income
 (In millions)
    
    2007
    
    
    2006
    
    
    2005Nonaccruing loans at December 31
    
    $
    47.8
    
    
    $
    31.0
    
    
    $
    44.0Interest income that would have been
recognized under original terms
    
    $
    3.4
    
    
    $
    2.5
    
    
    $
    3.4Interest actually received
    
    $
    2.1
    
    
    $
    1.3
    
    
    $
    1.5
  9. PREMISES AND EQUIPMENT
  Value of premises and equipment
   (in millions)
    
    2007
    
    
    2006Land
    
    $
    10.5
    
    
    $
    10.5Buildings and improvements
    
    
    165.0
    
    
    
    160.1Furniture and equipment
    
    
    198.4
    
    
    
    183.9Total
    
    $
    373.9
    
    
    $
    354.5Accumulated depreciation
    
    
    (221.8
    )
    
    
    (204.5
    )Premises and equipment, net
    
    $
    152.1
    
    
    $
    150.3
  2007 Annual Report
    
    89




---



##### 



10 . GOODWILL AND OTHER INTANGIBLE ASSETS
  Goodwill and other intangible assets
 2007
    
    
    2006Gross
    
    
    
    
    
    
    Net
    
    
    Gross
    
    
    
    
    
    
    Netcarrying
    
    
    Accumulated
    
    
    carrying
    
    
    carrying
    
    
    Accumulated
    
    
    carryingFor the year ended December 31 (in millions)
    amount
    
    
    amortization
    
    
    amount
    
    
    amount
    
    
    amortization
    
    
    amountGoodwill (nonamortizing)
    
    $
    359.8
    
    
    $
    29.8
    
    
    $
    330.0
    
    
    $
    321.2
    
    
    $
    29.8
    
    
    $
    291.4Other intangibles (amortizing):Mortgage servicing rights
    
    $
    9.1
    
    
    $
    7.3
    
    
    $
    1.8
    
    
    $
    8.3
    
    
    $
    6.4
    
    
    $
    1.9Client lists
    
    
    57.2
    
    
    
    21.3
    
    
    
    35.9
    
    
    
    49.3
    
    
    
    16.5
    
    
    
    32.8Acquisition costs
    
    
    1.7
    
    
    
    1.7
    
    
    
    
    
    
    
    1.7
    
    
    
    1.7
    
    
    
    Other intangibles
    
    
    1.9
    
    
    
    1.3
    
    
    
    0.6
    
    
    
    1.8
    
    
    
    1.1
    
    
    
    0.7Total other intangibles
    
    $
    69.9
    
    
    $
    31.6
    
    
    $
    38.3
    
    
    $
    61.1
    
    
    $
    25.7
    
    
    $
    35.4
  Amortization expense of other intangible assets For the year ended December 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005Amortization expense of other intangible assets
    
    $
    5.9
    
    
    $
    5.4
    
    
    $
    5.3
 Future amortization expense of other intangible assets
 For the year ended December 31 (in millions)
    
    2008
    
    
    2009
    
    
    2010
    
    
    2011
    
    
    2012Estimated annual amortization expense of other intangibles
    
    $
    5.7
    
    
    $
    5.2
    
    
    $
    4.5
    
    
    $
    4.0
    
    
    $
    3.5
 Carrying amount of goodwill by business segment
 Wealth
    
    
    Corporate
    
    
    AffiliateRegional
    
    
    Advisory
    
    
    Client
    
    
    Money(In millions)
    
    Banking
    
    
    Services
    
    
    Services
    
    
    Managers
    
    
    TotalBalance as of January 1, 2007
    
    $
    3.8
    
    
    $
    88.9
    
    
    $
    22.7
    
    
    $
    176.0
    
    
    $
    291.4Goodwill acquired
    
    
    
    
    
    
    18.8
    
    
    
    2.1
    
    
    
    17.3
    
    
    
    38.2Increase in carrying value due to foreign currency translation adjustments
    
    
    
    
    
    
    
    
    
    
    0.4
    
    
    
    
    
    
    
    0.4Balance as of December 31, 2007
    
    $
    3.8
    
    
    $
    107.7
    
    
    $
    25.2
    
    
    $
    193.3
    
    
    $
    330.0Balance as of January 1, 2006
    
    $
    3.8
    
    
    $
    86.7
    
    
    $
    19.2
    
    
    $
    238.6
    
    
    $
    348.3Goodwill acquired
    
    
    
    
    
    
    2.2
    
    
    
    1.3
    
    
    
    10.0
    
    
    
    13.5Impairment write-down
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (72.3
    )
    
    
    (72.3
    )Sale of affiliate interest
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (0.3
    )
    
    
    (0.3
    )Increase in carrying value due to foreign currency translation adjustments
    
    
    
    
    
    
    
    
    
    
    2.2
    
    
    
    
    
    
    
    2.2Balance as of December 31, 2006
    
    $
    3.8
    
    
    $
    88.9
    
    
    $
    22.7
    
    
    $
    176.0
    
    
    $
    291.4
 90     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 




    
    $16.0 million recorded under Wealth Advisory Services in connection with the acquisition of Bingham Legg Advisers, LLC.
    
    A $2.8 million contingent payment recorded under Wealth Advisory Services in connection with
the acquisition of Grant Tani Barash & Altman, LLC.
    
    $2.1 million recorded under Corporate Client Services in connection with the acquisition of
Amaco (Luxembourg) S.A.
    
    $13.0 million recorded under Affiliate Money Managers in connection with the purchase of a
portion of the Class B interests of principals of the Portland, Oregon, office of Roxbury
Capital Management.
    
    $4.3 million recorded under Affiliate Money Managers in connection with an increase in WTIs
equity interest in Cramer Rosenthal McGlynn.
  
    
    $10.0 million recorded under Affiliate Money Managers in connection with an increase in WTIs
equity interest in CRM.
 
    
    $1.3 million recorded under Corporate Client Services in connection with the acquisition of
PwC Corporate Services (Cayman) Limited.
 
    
    A $2.2 million contingent payment recorded under Wealth Advisory Services in connection with
the acquisition of Grant Tani Barash & Altman, LLC.
 Changes in other intangible assets
 2007
    
    
    2006Weighted
    
    
    
    
    
    
    
    
    
    
    Weightedaverage
    
    
    
    
    
    
    
    
    
    
    averageamortization
    
    
    
    
    
    
    
    
    
    
    amortizationAmount
    
    
    Residual
    
    
    period
    
    
    Amount
    
    
    Residual
    
    
    periodFor the year ended December 31 (in millions)
    
    assigned
    
    
    value
    
    
    in years
    
    
    assigned
    
    
    value
    
    
    in yearsMortgage servicing rights
    
    $
    0.8
    
    
    
    
    
    
    
    8
    
    
    $
    0.3
    
    
    
    
    
    
    
    8Client lists
    
    
    7.9
    
    
    
    
    
    
    
    16
    
    
    
    6.0
    
    
    
    
    
    
    
    16Increase in carrying value of client lists due to
foreign currency translation adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.3
    
    
    
    
    
    
    
    Pension and SERP intangibles
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2.3
    )
    
    
    
    
    
    
    Other intangibles
    
    
    0.1
    
    
    
    
    
    
    
    9
    
    
    
    0.2
    
    
    
    
    
    
    
    6Total other intangible assets
    
    $
    8.8
    
    
    
    
    
    
    
    
    
    
    $
    4.5
    
    
    
    
  
    
    $7.3 million recorded under Wealth Advisory Services in connection with the acquisition of
Bingham Legg Advisers, LLC.
 
    
    $0.6 million recorded under Affiliate Money Managers in connection with an increase in WTIs
equity interest in Cramer Rosenthal McGlynn.
  
    
    $1.3 million recorded under Corporate Client Services in connection with the acquisition of
PwC Corporate Services (Cayman) Limited.
 
    
    $1.2 million recorded under Wealth Advisory Services in connection with the purchase of a
client list during the formation of Wilmington Family Office, Inc.
 
    
    $3.5 million recorded under Affiliate Money Managers in connection with an increase in WTIs
equity interest in CRM.
  11 . DEPOSITS
   2007 Annual Report
    
    91




---



##### 



Contractual maturities of CDs
 (In millions)2008
    
    $
    3,639.62009
    
    $
    62.22010
    
    $
    22.02011
    
    $
    17.02012
    
    $
    12.12013 and thereafter
    
    $
    6.8
  Maturities of time deposits
3  $100,000All otherAs of December 31, 2007
    
    Certificates
    
    
    interest-bearing(in millions)
    
    of deposit
    
    
    depositsThree months or less
    
    $
    1,938.8
    
    
    $
    More than three through six months
    
    
    581.6
    
    
    
    More than six through 12 months
    
    
    204.8
    
    
    
    More than 12 months
    
    
    23.1
    
    
    
    Total
    
    $
    2,748.3
    
    
    $
    
  12. BORROWINGS
  Federal funds purchased and securities sold under
agreements to repurchase.
 Federal funds purchased and
securities sold under agreements to
repurchase
 (In millions)
    
    2007
    
    
    2006
    
    
    2005Average amount outstanding
during the year
    
    $
    1,465.0
    
    
    $
    1,116.2
    
    
    $
    1,096.3Weighted
average interest rate during the year
    
    
    4.7
    %
    
    
    4.8
    %
    
    
    3.2
    %Weighted average interest rate
at December 31
    
    
    3.9
    %
    
    
    4.9
    %
    
    
    4.0
    %Maximum amount outstanding at
any month end
    
    $
    1,999.3
    
    
    $
    1,254.6
    
    
    $
    1,355.7Amount outstanding
at December 31
    
    $
    1,775.3
    
    
    $
    1,130.9
    
    
    $
    1,355.7
 Lines of credit.
 Long-term debt.
 Federal Home Loan Bank advance
 Fixed2007
    
    
    2006
    
    
    Term
    
    interest ratet
    
    
    Maturity date$28.0
    
    $
    28.0
    
    
    15 years
    
    
    6.55
    %
    
    October 4, 2010
   Subordinated long-term debt.
 Subordinated long-term debt
   Amountissued
    
    
    
    
    
    
    Semiannual
    
    
    FixedIssue
    
    and out-
    
    
    
    
    
    
    payment
    
    
    paymentdate
    
    standing
    
    
    Term
    
    
    dates
    
    
    rates
    
    
    MaturityMay 4, 1998
    
    $
    125.0
    
    
    10 years
    
    May 1 and
    
    
    6.625
    %
    
    May 1, 2008November 1April 4, 2003
    
    $
    250.0
    
    
    10 years
    
    April 15 and
    
    
    4.875
    %
    
    April 15, 2013October 15
 92     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Shelf registration.
  13. COMMITMENTS AND CONTINGENCIES
  Lease commitments.
 Minimum noncancelable lease payments on real property
 Gross
    
    
    Sublease
    
    
    Net(in millions)
    
    amount
    
    
    amount
    
    
    amount2008
    
    $
    12.7
    
    
    $
    0.5
    
    
    $
    12.22009
    
    $
    11.5
    
    
    $
    0.1
    
    
    $
    11.42010
    
    $
    9.7
    
    
    $
    
    
    
    $
    9.72011
    
    $
    7.1
    
    
    $
    
    
    
    $
    7.12012
    
    $
    6.0
    
    
    $
    
    
    
    $
    6.02013 and thereafter
    
    $
    21.5
    
    
    $
    
    
    
    $
    21.5
 Off-balance-sheet commitments.
 Commitments to extend credit and letters of credit.
  Loan guaranties.
 Off-balance-sheet items
 2007
    
    
    2006At December 31
    
    Contractual
    
    
    Fair
    
    
    Contractual
    
    
    Fair(in millions)
    
    amount
    
    
    value
    
    
    amount
    
    
    valueUnfunded commitments
to extend credit
    
    $
    3,485.8
    
    
    $
    13.4
    
    
    $
    3,326.3
    
    
    $
    12.7Standby and commercial
letters of credit
    
    $
    510.4
    
    
    $
    3.1
    
    
    $
    471.7
    
    
    $
    3.3CRM loan guaranty
    
    $
    2.5
    
    
    $
    
    
    
    $
    2.5
    
    
    $
    
 Visa Inc. litigation.
   2007 Annual Report
    
    93




---



##### 



Legal proceedings.
  14. FAIR VALUE OF FINANCIAL INSTRUMENTS
     Carrying values and estimated fair values
  For the year ended
    
    2007
    
    
    2006December 31
    
    Carrying
    
    
    Fair
    
    
    Carrying
    
    
    Fair(in millions)
    
    value
    
    
    value
    
    
    value
    
    
    valueFinancial assets:Cash and due
from banks
    
    $
    260.5
    
    
    $
    260.5
    
    
    $
    249.7
    
    
    $
    249.7Short-term
investments
    
    $
    134.0
    
    
    $
    134.0
    
    
    $
    68.9
    
    
    $
    68.9Investment
securities
    
    $
    1,869.2
    
    
    $
    1,869.2
    
    
    $
    2,114.6
    
    
    $
    2,114.7Loans, net
of reserves
    
    $
    8,374.7
    
    
    $
    8,313.2
    
    
    $
    8,000.7
    
    
    $
    7,933.7Interest rate
swap contracts
    
    $
    9.9
    
    
    $
    9.9
    
    
    $
    7.6
    
    
    $
    7.6Interest rate
floor contracts
    
    $
    40.4
    
    
    $
    40.4
    
    
    $
    16.6
    
    
    $
    16.6Accrued interest
receivable
    
    $
    80.0
    
    
    $
    80.0
    
    
    $
    74.0
    
    
    $
    74.0Financial liabilities:Deposits
    
    $
    7,857.5
    
    
    $
    7,924.4
    
    
    $
    8,329.1
    
    
    $
    8,413.3Short-term
borrowings
    
    $
    1,992.1
    
    
    $
    1,992.9
    
    
    $
    1,158.8
    
    
    $
    1,158.8Interest rate
swap contracts
    
    $
    10.4
    
    
    $
    10.4
    
    
    $
    10.1
    
    
    $
    10.1Accrued interest
payable
    
    $
    78.5
    
    
    $
    78.5
    
    
    $
    75.2
    
    
    $
    75.2Long-term debt
    
    $
    267.8
    
    
    $
    257.7
    
    
    $
    388.5
    
    
    $
    378.8
 Cash and due from banks, short-term investments,
accrued interest receivable, short-term borrowings, and
accrued interest payable.
 Investment securities.
 94     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Loans.
 Long-term debt.
 Derivative financial instruments.
 Commitments to extend credit and letters of credit.
  15. DERIVATIVE AND HEDGING ACTIVITIES
   Interest rate swaps.
   Interest rate floors.
  2007 Annual Report
    
    95




---



##### 



Interest rate floor expense.
 For the year ended December 31(in millions)
    
    2007
    
    
    2006
    
    
    2005Interest rate floor contract expense
    
    $
    2.0
    
    
    $
    0.2
    
    
    $
    
    Fair value hedging strategies.
 Cash flow hedging strategies.
    16. CAPITAL REQUIREMENTS
  Federal capital adequacy requirements.
  96     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



U.S. regulatory capital ratios
 Adequatelycapitalized
    
    Well-capitalizedActual
    
    minimum
    
    minimumAmount
    
    Ratio
    
    Amount
    
    Ratio(Dollars in millions)
    
    Amount
    
    Ratio
    

3
    

3
    

3
    

3As of December 31, 2007
Total capital (to risk-weighted assets):Wilmington Trust Corporation
    
    $
    1,130.0
    
    
    
    11.21
    %
    
    $
    806.3
    
    
    
    8.00
    %
    
    $
    1,007.9
    
    
    
    10.00
    %Wilmington Trust Company
    
    $
    1,004.3
    
    
    
    10.77
    %
    
    $
    745.9
    
    
    
    8.00
    %
    
    $
    932.4
    
    
    
    10.00
    %Wilmington Trust of Pennsylvania
    
    $
    112.8
    
    
    
    13.78
    %
    
    $
    65.5
    
    
    
    8.00
    %
    
    $
    81.9
    
    
    
    10.00
    %Tier 1 capital (to risk-weighted assets):Wilmington Trust Corporation
    
    $
    779.2
    
    
    
    7.73
    %
    
    $
    403.1
    
    
    
    4.00
    %
    
    $
    604.7
    
    
    
    6.00
    %Wilmington Trust Company
    
    $
    919.5
    
    
    
    9.86
    %
    
    $
    373.0
    
    
    
    4.00
    %
    
    $
    559.5
    
    
    
    6.00
    %Wilmington Trust of Pennsylvania
    
    $
    104.8
    
    
    
    12.80
    %
    
    $
    32.7
    
    
    
    4.00
    %
    
    $
    49.1
    
    
    
    6.00
    %Tier 1 capital (to average assets):Wilmington Trust Corporation
    
    $
    779.2
    
    
    
    7.18
    %
    
    $
    434.2
    
    
    
    4.00
    %
    
    $
    542.8
    
    
    
    5.00
    %Wilmington Trust Company
    
    $
    919.5
    
    
    
    9.34
    %
    
    $
    393.9
    
    
    
    4.00
    %
    
    $
    492.4
    
    
    
    5.00
    %Wilmington Trust of Pennsylvania
    
    $
    104.8
    
    
    
    8.60
    %
    
    $
    48.8
    
    
    
    4.00
    %
    
    $
    60.9
    
    
    
    5.00
    %As of December 31, 2006
Total capital (to risk-weighted assets):Wilmington Trust Corporation
    
    $
    1,158.7
    
    
    
    12.10
    %
    
    $
    765.8
    
    
    
    8.00
    %
    
    $
    957.3
    
    
    
    10.00
    %Wilmington Trust Company
    
    $
    968.9
    
    
    
    10.93
    %
    
    $
    709.3
    
    
    
    8.00
    %
    
    $
    886.6
    
    
    
    10.00
    %Wilmington Trust of Pennsylvania
    
    $
    104.8
    
    
    
    13.87
    %
    
    $
    60.4
    
    
    
    8.00
    %
    
    $
    75.6
    
    
    
    10.00
    %Tier 1 capital (to risk-weighted assets):Wilmington Trust Corporation
    
    $
    789.7
    
    
    
    8.25
    %
    
    $
    382.9
    
    
    
    4.00
    %
    
    $
    574.4
    
    
    
    6.00
    %Wilmington Trust Company
    
    $
    887.6
    
    
    
    10.01
    %
    
    $
    354.6
    
    
    
    4.00
    %
    
    $
    532.0
    
    
    
    6.00
    %Wilmington Trust of Pennsylvania
    
    $
    98.1
    
    
    
    12.99
    %
    
    $
    30.2
    
    
    
    4.00
    %
    
    $
    45.3
    
    
    
    6.00
    %Tier 1 capital (to average assets):Wilmington Trust Corporation
    
    $
    789.7
    
    
    
    7.39
    %
    
    $
    427.4
    
    
    
    4.00
    %
    
    $
    534.3
    
    
    
    5.00
    %Wilmington Trust Company
    
    $
    887.6
    
    
    
    8.94
    %
    
    $
    396.9
    
    
    
    4.00
    %
    
    $
    496.2
    
    
    
    5.00
    %Wilmington Trust of Pennsylvania
    
    $
    98.1
    
    
    
    8.74
    %
    
    $
    44.9
    
    
    
    4.00
    %
    
    $
    56.1
    
    
    
    5.00
    %
 Capital requirements for dividend payments.
 Other capital adequacy requirements.
 2007 Annual Report
    
    97




---



##### 



17. RELATED PARTY TRANSACTIONS
  Loans to related partiesAt December 31 (in millions)
    
    2007
    
    2006Total loans to related parties
    
    $
    62.5
    
    
    $
    44.0Loan additions
    
    $
    40.8
    
    
    $
    37.3Loan payments received
    
    $
    22.7
    
    
    $
    47.7Other changes
    
    $
    0.4
    
    
    $
    
   18. PENSION AND OTHER POSTRETIREMENT BENEFITS
     Weighted average assumptions used to determine benefit obligations
 Pension benefits
    
    
    SERP benefits
    
    
    PostretirementbenefitsAt December 31 (in millions)
    
    2007
    
    
    2006
    
    
    2007
    
    
    2006
    
    
    2007
    
    
    2006Discount rate
    
    
    6.50
    %
    
    
    6.10
    %
    
    
    6.50
    %
    
    
    6.00
    %
    
    
    6.30
    %
    
    
    5.90
    %Rate of compensation increase
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    
    
    
    
    
 98     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Changes to assumptions used to determine benefit obligations
 PostretirementAs of the 2007 measurement date (in millions)
    
    Pension plan1
    
    
    SERP1
    
    
    benefits plan2Gain/(loss) due to change in the discount rate
    
    $
    11.1
    
    
    $
    1.8
    
    
    $
    1.7Gain/(loss) due to change in return on assets
    
    $
    7.3
    
    
    $
    
    
    
    $
    Increase/(decrease) due to mortality table updates
    
    $
    (0.9
    )
    
    $
    1.0
    
    
    $
    
 
 1
    
    Measurement date: September 30, 20072
    
    Measurement date: December 31, 2007  Excess/(shortfall) of plan assets compared to plan obligations
 PostretirementPension benefits
    
    SERP benefits
    
    benefitsAt December 31 (in millions)
    
    2007
    
    2006
    
    2007
    
    2006
    
    2007
    
    2006Fair value of plan assets
    
    $
    223.5
    
    
    $
    197.5
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Projected benefit obligation
    
    
    190.8
    
    
    
    186.6
    
    
    
    25.6
    
    
    
    22.4
    
    
    
    
    
    
    
    Funded status (difference)
    
    $
    32.7
    
    
    $
    10.9
    
    
    $
    (25.6
    )
    
    $
    (22.4
    )
    
    $
    
    
    
    $
    Fair value of plan assets
    
    $
    223.5
    
    
    $
    197.5
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Accumulated benefit obligation
    
    
    169.0
    
    
    
    165.0
    
    
    
    20.2
    
    
    
    18.7
    
    
    
    41.0
    
    
    
    41.0Funded status (difference)
    
    $
    54.5
    
    
    $
    32.5
    
    
    $
    (20.2
    )
    
    $
    (18.7
    )
    
    $
    (41.0
    )
    
    $
    (41.0
    )
 Changes in the net projected benefit obligation and plan assets
 PostretirementPension benefits
    
    SERP benefits
    
    benefitsAt December 31 (in millions)
    
    2007
    
    2006
    
    2007
    
    2006
    
    2007
    
    2006Net projected benefit obligation at start of year
    
    $
    186.6
    
    
    $
    174.9
    
    
    $
    22.4
    
    
    $
    22.0
    
    
    $
    41.0
    
    
    $
    37.8Service cost
    
    
    9.0
    
    
    
    8.3
    
    
    
    0.7
    
    
    
    0.8
    
    
    
    1.3
    
    
    
    1.2Interest cost
    
    
    11.2
    
    
    
    10.3
    
    
    
    1.3
    
    
    
    1.3
    
    
    
    2.4
    
    
    
    2.2Plan participants contributions
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.4
    
    
    
    0.4Actuarial loss/(gain)
    
    
    (8.8
    )
    
    
    (0.2
    )
    
    
    1.8
    
    
    
    (1.1
    )
    
    
    (1.1
    )
    
    
    2.2Gross benefits paid
    
    
    (7.2
    )
    
    
    (6.7
    )
    
    
    (0.6
    )
    
    
    (0.6
    )
    
    
    (3.0
    )
    
    
    (2.8
    )Change in plan provisions
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net projected benefit obligation at end of year
    
    $
    190.8
    
    
    $
    186.6
    
    
    $
    25.6
    
    
    $
    22.4
    
    
    $
    41.0
    
    
    $
    41.0Fair value of plan assets at start of year
    
    $
    197.5
    
    
    $
    174.0
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Actual return on plan assets
    
    
    23.2
    
    
    
    15.2
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Employer contributions
    
    
    10.0
    
    
    
    15.0
    
    
    
    0.6
    
    
    
    0.6
    
    
    
    2.6
    
    
    
    2.4Plan participants contributions
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.4
    
    
    
    0.4Gross benefits paid
    
    
    (7.2
    )
    
    
    (6.7
    )
    
    
    (0.6
    )
    
    
    (0.6
    )
    
    
    (3.0
    )
    
    
    (2.8
    )Fair value of plan assets at end of year
    
    $
    223.5
    
    
    $
    197.5
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Funded status at end of year
    
    $
    32.7
    
    
    $
    10.9
    
    
    $
    (25.6
    )
    
    $
    (22.4
    )
    
    $
    (41.0
    )
    
    $
    (41.0
    )
 2007 Annual Report
    
    99




---



##### 



Net amounts recognized in our Consolidated Statements of Condition
 PostretirementPension benefits
    
    SERP benefits
    
    benefitsAt December 31 (in millions)
    
    2007
    
    2006
    
    2007
    
    2006
    
    2007
    
    2006Funded status
    
    $
    32.7
    
    
    $
    10.9
    
    
    $
    (25.6
    )
    
    $
    (22.4
    )
    
    $
    (41.0
    )
    
    $
    (41.0
    )Unrecognized net actuarial loss/(gain)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Unrecognized net transition obligation/(asset)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Unrecognized prior service cost
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Contributions from measurement date to end of year
    
    
    
    
    
    
    
    
    
    
    0.1
    
    
    
    0.1
    
    
    
    
    
    
    
    Net amount recognized at end of year
    
    $
    32.7
    
    
    $
    10.9
    
    
    $
    (25.5
    )
    
    $
    (22.3
    )
    
    $
    (41.0
    )
    
    $
    (41.0
    )
 Components of the net amount recognized in our Consolidated Statements of Condition
 PostretirementPension benefits
    
    
    SERP benefits
    
    
    benefitsAt December 31 (in millions)
    
    2007
    
    
    2006
    
    
    2007
    
    
    2006
    
    
    2007
    
    
    2006(Accrued)/prepaid benefit cost
    
    $
    50.8
    
    
    $
    47.7
    
    
    $
    (18.0
    )
    
    $
    (16.0
    )
    
    $
    (30.8
    )
    
    $
    (29.4
    )Accrued benefit liability
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Intangible assets
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net asset/(liability) recognized
    
    
    50.8
    
    
    
    47.7
    
    
    
    (18.0
    )
    
    
    (16.0
    )
    
    
    (30.8
    )
    
    
    (29.4
    )Accumulated other comprehensive income
    
    
    (18.1
    )
    
    
    (36.8
    )
    
    
    (7.5
    )
    
    
    (6.3
    )
    
    
    (10.2
    )
    
    
    (11.0
    )Contributions from measurement date to end of year
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net amount recognized at end of year
    
    $
    32.7
    
    
    $
    10.9
    
    
    $
    (25.5
    )
    
    $
    (22.3
    )
    
    $
    (41.0
    )
    
    $
    (40.4
    )Amounts recognized in accumulated other
comprehensive income:Transition obligation (asset)
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Prior service cost (credit)
    
    
    0.1
    
    
    
    0.9
    
    
    
    1.5
    
    
    
    1.9
    
    
    
    (3.8
    )
    
    
    (4.4
    )Net loss/(gain)
    
    
    18.0
    
    
    
    35.9
    
    
    
    6.0
    
    
    
    4.4
    
    
    
    14.0
    
    
    
    15.4Total
    
    $
    18.1
    
    
    $
    36.8
    
    
    $
    7.5
    
    
    $
    6.3
    
    
    $
    10.2
    
    
    $
    11.0
 Other changes in plan assets and benefit obligations recognized in other comprehensive income
 PostretirementPension benefits
    
    SERP benefits
    
    benefitsAt December 31 (in millions)
    
    2007
    
    2006
    
    2007
    
    2006
    
    2007
    
    2006Prior service cost
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Net (gain)/loss
    
    
    (16.1
    )
    
    
    
    
    
    
    1.7
    
    
    
    
    
    
    
    (0.4
    )
    
    
    Amortization of transition obligation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Amortization of prior service cost
    
    
    (0.8
    )
    
    
    
    
    
    
    (0.3
    )
    
    
    
    
    
    
    0.5
    
    
    
    Amortization of net gain/loss
    
    
    (1.8
    )
    
    
    
    
    
    
    (0.2
    )
    
    
    
    
    
    
    (0.9
    )
    
    
    Total recognized in other comprehensive income
    
    $
    (18.7
    )
    
    $
    
    
    
    $
    1.2
    
    
    $
    
    
    
    $
    (0.8
    )
    
    $
    Change in minimum liability included in other
comprehensive income
    
    $
    18.7
    
    
    $
    (36.8
    )
    
    $
    (1.2
    )
    
    $
    (5.2
    )
    
    $
    (0.8
    )
    
    $
    (11.0
    )
 Net periodic benefit expense we expect to record in 2008
 Component of accumulated other comprehensive income (in millions)
    
    Pension plan
    
    
    SERP plan
    
    
    Postretirement planExpected 2008 amortization of transition obligation
    
    $
    
    
    
    $
    
    
    
    $
    Expected 2008 amortization of prior service cost
    
    $
    
    
    
    $
    0.3
    
    
    $
    (0.5
    )Expected 2008 amortization of net loss
    
    $
    0.5
    
    
    $
    0.3
    
    
    $
    0.7
 100     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Weighted average assumptions used to determine the net periodic benefit expense of the plans
 PostretirementPension benefits
    
    SERP benefits
    
    benefitsAt December 31 (in millions)
    
    2007
    
    2006
    
    2005
    
    2007
    
    2006
    
    2005
    
    2007
    
    2006
    
    2005Weighted average assumptions used to determine
net periodic benefit expense:Discount rate
    
    
    6.10
    %
    
    
    6.00
    %
    
    
    6.00
    %
    
    
    6.00
    %
    
    
    5.90
    %
    
    
    6.00
    %
    
    
    5.90
    %
    
    
    5.90
    %
    
    
    6.00
    %Expected return on plan assets
    
    
    8.50
    %
    
    
    8.50
    %
    
    
    8.50
    %
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Rate of compensation increase
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    4.50
    %
    
    
    
    
    
    
    
    
    
    
    Components of net periodic benefit cost:Service cost
    
    $
    9.0
    
    
    $
    8.3
    
    
    $
    7.8
    
    
    $
    0.7
    
    
    $
    0.8
    
    
    $
    0.8
    
    
    $
    1.3
    
    
    $
    1.2
    
    
    $
    0.8Interest cost
    
    
    11.2
    
    
    
    10.3
    
    
    
    9.6
    
    
    
    1.3
    
    
    
    1.3
    
    
    
    1.3
    
    
    
    2.4
    
    
    
    2.2
    
    
    
    2.4Expected return on plan assets
    
    
    (16.0
    )
    
    
    (14.1
    )
    
    
    (12.3
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Amortization of transition obligation/(asset)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.1
    
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    Amortization of prior service cost
    
    
    0.8
    
    
    
    0.8
    
    
    
    0.8
    
    
    
    0.3
    
    
    
    0.3
    
    
    
    0.3
    
    
    
    (0.5
    )
    
    
    (0.5
    )
    
    
    Recognized actuarial loss
    
    
    1.8
    
    
    
    2.0
    
    
    
    1.6
    
    
    
    0.2
    
    
    
    0.3
    
    
    
    0.4
    
    
    
    0.9
    
    
    
    0.9
    
    
    
    0.6Difference in actual expense and estimate
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.2Net periodic benefit cost
    
    $
    6.8
    
    
    $
    7.3
    
    
    $
    7.5
    
    
    $
    2.5
    
    
    $
    2.8
    
    
    $
    2.9
    
    
    $
    4.1
    
    
    $
    3.8
    
    
    $
    4.0
 Plan contributions expected in 2008
 Pension
    
    
    SERP
    
    
    Postretirement(In millions)
    
    benefits
    
    
    benefits
    
    
    benefitsExpected employer contributions
    
    $
    
    
    
    $
    0.6
    
    
    $
    3.0Expected employee contributions
    
    $
    
    
    
    $
    
    
    
    $
    0.5
  Estimated future benefit payments
based upon current assumptions
 Pension
    
    
    SERP
    
    
    Postretirement(In millions)
    
    benefits
    
    
    benefits
    
    
    benefits2008
    
    $
    7.5
    
    
    $
    0.6
    
    
    $
    3.02009
    
    $
    7.9
    
    
    $
    0.7
    
    
    $
    3.02010
    
    $
    8.4
    
    
    $
    0.8
    
    
    $
    3.02011
    
    $
    8.8
    
    
    $
    1.1
    
    
    $
    3.12012
    
    $
    9.7
    
    
    $
    1.2
    
    
    $
    3.120132017
    
    $
    65.5
    
    
    $
    10.6
    
    
    $
    15.1
 Pension plan.
  Increase/
    
    Increase/At December 31, 2007
    
    
    
    
    
    (decrease)
    

    (decrease)(in millions)
    
    Change
    
    
    in liabilities
    

    in expenseGain/(loss) due to change in
the discount rate
    
    
    0.25
    %
    
    $
    6.9
    
    
    $
    1.0Gain/(loss) due to change in
return on assets
    
    
    0.25
    %
    
    $
    
    
    
    $
    1.9
 2007 Annual Report
    
    101




---



##### 




    
    Grow assets at an average annual rate that exceeds the
actuarially assumed expected rate of return in order to
keep pace with future obligations.
 
    
    Provide for the most stability possible to meet the
target growth rate with a medium level of risk.
 
    
    Show positive returns after inflation.
 
    
    Provide liquidity so that we can make benefit payments to
plan participants who have retired.
  
    
    Returns that exceed, and volatility that is equal to or
lower than, those of an index that blends 70% of the
Standard and Poors 500 Index and 30% of the Lehman
Government/Credit Index.
 
    
    Returns that exceed those of the relevant market index for
each asset class in which we invest plan assets.
   Asset allocation
 Target allocation
    
    
    
    
    
    
    Actual(weighted average)
    
    
    
    
    
    
    allocationAt September 30
    
    2007
    
    
    2007
    
    
    2006Equity securities
    
    
    61
    %
    
    
    61
    %
    
    
    36
    %Debt securities
    
    
    30
    %
    
    
    24
    %
    
    
    35
    %Real estate
    
    
    9
    %
    
    
    12
    %
    
    
    11
    %Other
    
    
    
    %
    
    
    3
    %
    
    
    18
    %Total
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
  Supplemental executive retirement plan (SERP).
 Postretirement health care and life insurance benefits.
 Assumptions used to calculate the accumulated
postretirement benefit obligation
 At December 31
    
    2007
    
    2006Health care cost trend rate assumed
    
    
    10
    %
    
    
    9
    %Rate to which cost trend rate is assumed to decline
(the ultimate trend rate)
    
    
    5
    %
    
    
    6
    %Year that rate reaches the ultimate trend rate
    
    
    2013
    
    
    
    2010
 Assumptions used to calculate the net periodic benefit expense
 For the year ended December 31
    
    2007
    
    2006Health care cost trend rate assumed
    
    
    9
    %
    
    
    9
    %Rate to which cost trend rate is assumed to decline
(the ultimate trend rate)
    
    
    6
    %
    
    
    6
    %Year that rate reaches the ultimate trend rate
    
    
    2010
    
    
    
    2009
 102     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Effect on postretirement health care benefits of a 1%
change in the assumed health care trend rate
 1%
    
    
    1%(In millions)
    
    increase
    
    
    decreaseEffect on total service and interest components of
net periodic health care benefit expense
    
    $
    0.4
    
    
    $
    (0.3
    )Effect on accumulated postretirement
benefit obligation
    
    $
    3.5
    
    
    $
    (2.9
    )
 Thrift savings plan.
  19. STOCK-BASED COMPENSATION PLANS
   
    
    Long-term stock-based incentive plans.Under our current
long-term incentive plan, which was approved in 2005, we
may grant incentive stock options, nonstatutory stock
options, restricted stock, and other stock-based awards of
up to 4 million shares of common stock to officers, other
key staff members, directors, and advisory board members.
Under this plan and its predecessors, the exercise price of
each option equals the last sale price of our common stock
on the date of the grant. Options are subject to a cliff
vesting period, which is normally three years (or such
other term as our Compensation Committee or Select
Committee may determine). Options have a maximum term of 10
years.
 
    
    Executive incentive plan.Our current executive incentive
plan, which was approved by shareholders on April 15, 2004,
authorizes cash bonuses and issuances of up to 300,000
shares of our common stock with a par value of $1.00 per
share. The stock awards we have granted under this plan are
for restricted stock and are subject to vesting at the sole
discretion of the Compensation Committee. Recent grants
typically have vested over a three- or four-year period.
 
    
    Employee stock purchase plan (ESPP).Under the current
ESPP, which was approved in 2004, substantially all staff
members may purchase our common stock at the beginning of
the stock purchase plan year through payroll deductions of up
to 10% of their annual base pay, or $21,250, whichever is less.
Plan participants may terminate their participation at any
time. The price per share is 85% (or such greater percentage as
our Compensation Committee may determine) of the stocks fair
market value at the beginning of the plan year.
 
    
    Directors deferred fee plan.Our directors may elect to
defer receipt of the cash portion of their directors fees
until they retire from the Board. A director may elect to
earn a yield on the deferred cash portion based on yields
Wilmington Trust Company pays on certain deposit products
and/or changes in the price of our common stock (including
dividends). Choosing the latter creates phantom shares. As
of December 31, 2007, the fair value of phantom shares
granted under the deferral plan was $1.3 million. For more
information about our directors compensation, please see
the proxy statement for our 2008 annual shareholders
meeting.
   Effects of stock-based compensation
 For the year ended December 31(in millions)
    
    2007
    
    
    2006
    
    
    2005Compensation expense:Stock options
    
    $
    5.4
    
    
    $
    6.4
    
    
    $
    5.8Restricted stock
    
    
    2.1
    
    
    
    0.8
    
    
    
    0.3ESPP
    
    
    0.6
    
    
    
    0.6
    
    
    
    0.9Total compensation expenses
    
    $
    8.1
    
    
    $
    7.8
    
    
    $
    7.0Tax benefit
    
    
    2.6
    
    
    
    1.9
    
    
    
    1.2Net income effect
    
    $
    5.5
    
    
    $
    5.9
    
    
    $
    5.8
 Stock option valuation.
 2007 Annual Report
    
    103




---



##### 




    
    Base the value of the options on the amount of time that typically lapses between when
options are granted and when they are exercised.
    
    Apply different forfeiture rates for each group.
    
    Calculate valuation estimates more precisely.
 Stock option valuation assumptions
 For the year endedDecember 31
    
    2007
    
    
    2006
    
    
    2005Risk-free interest rate
    
    
    3.254.84
    %
    
    
    4.514.94
    %
    
    
    3.043.26
    %Volatility of
Corporations stock
    
    
    13.46-18.25
    %
    
    
    14.39-20.82
    %
    
    
    19.04-21.57
    %Expected
dividend yield
    
    
    2.883.87
    %
    
    
    2.722.99
    %
    
    
    3.534.48
    %Expected life
of options
    
    4.58.2 years
    
    4.38.4 years
    
    35 years
  
    
    We use the Black-Scholes valuation method.
    
    The risk-free interest rate is the U.S. Treasury rate commensurate with the expected life of
options on the date of each grant.
    
    We based the volatility of our stock on historical volatility over a span of time equal to the
expected life of the options.
    
    We based the expected life of stock option awards on historical experience. Expected life is the
period of time we estimate that granted stock options will remain outstanding.
  Long-term stock-based incentive plans.
 Options exercised
 For the year ended December 31(dollars in millions)
    
    2007
    
    
    2006
    
    
    2005Number of options exercised
    
    
    657,168
    
    
    
    1,071,943
    
    
    
    427,608Total intrinsic value of options exercised
    
    $
    7.6
    
    
    $
    19.3
    
    
    $
    4.3Cash received from options exercised
    
    $
    19.7
    
    
    $
    27.5
    
    
    $
    11.3Tax benefit realized from tax
deductions for options exercised
    
    $
    2.3
    
    
    $
    6.0
    
    
    $
    1.1
  Stock option activity
 WeightedWeighted
    
    
    average
    
    
    Aggregateaverage
    
    
    remaining
    
    
    intrinsicStock
    
    
    exercise
    
    
    contractual
    
    
    valueFor the year ended December 31, 2007
    
    options
    
    
    price
    
    
    term
    
    
    (in millions)Outstanding at January 1, 2007
    
    
    6,161,967
    
    
    $
    33.43Granted
    
    
    1,000,283
    
    
    $
    43.48Exercised
    
    
    (657,168
    )
    
    $
    29.83Expired
    
    
    (7,700
    )
    
    $
    33.00Forfeited
    
    
    (184,273
    )
    
    $
    38.65Outstanding at December 31, 2007
    
    
    6,313,109
    
    
    $
    35.21
    
    
    5.5 years
    
    $
    16.8Exercisable at December 31, 2007
    
    
    3,586,321
    
    
    $
    31.23
    
    
    4.2 years
    
    $
    15.8
 Unvested stock options.
 For the year (per share)
    
    2007
    
    
    2006
    
    
    2005Weighted average fair value at grant date
of stock options issued during year
    
    $
    6.92
    
    
    $
    7.05
    
    
    $
    5.40
 104     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Restricted stock grants.
 
    
    Reacquire the shares, hold them in our treasury, and use them to grant new awards.
    
    Adjust stockholders equity and stock-based compensation expense to reflect these
forfeitures.
    Restricted stock activityWeighted averageFor the year ended
    
    Restricted
    
    
    fair valueDecember 31, 2007
    
    shares
    
    
    at grant dateOutstanding at January 1, 2007
    
    
    55,735
    
    
    $
    40.84Granted
    
    
    54,370
    
    
    $
    43.36Vested
    
    
    (19,231
    )
    
    $
    39.07Forfeited
    
    
    (4,743
    )
    
    $
    41.82Outstanding at December 31, 2007
    
    
    86,131
    
    
    $
    42.77
 Restricted stock activity(In millions)
    
    2007
    
    
    2006
    
    
    2005Total value of shares vested
during the year
    
    $
    0.8
    
    
    $
    0.3
    
    
    $
    0.2
 Employee stock purchase plan.
  Shares reservedActivity for the 2004 employee stock
    
    for future
    
    
    Subscriptionspurchase plan and its predecessors
    
    subscriptions
    
    
    outstanding
    
    
    Price per shareBalance at January 1, 2005
    
    
    693,011
    
    
    
    106,989Subscriptions entered into on June 1, 2005
    
    
    (110,266
    )
    
    
    110,266
    
    
    $
    30.54Forfeitures
    
    
    7,545
    
    
    
    (7,545
    )
    
    $
    30.54$31.06Shares issued
    
    
    
    
    
    
    (102,874
    )
    
    $
    30.46Balance at January 1, 2006
    
    
    590,290
    
    
    
    106,836Subscriptions entered into on June 1, 2006
    
    
    (95,551
    )
    
    
    95,551
    
    
    $
    37.06Forfeitures
    
    
    6,038
    
    
    
    (6,038
    )
    
    $
    30.54$37.06Shares issued
    
    
    
    
    
    
    (102,348
    )
    
    $
    30.54Balance at January 1, 2007
    
    
    500,777
    
    
    
    94,001Subscriptions entered into on June 1, 2007
    
    
    (106,012
    )
    
    
    106,012
    
    
    $
    36.64Forfeitures
    
    
    14,110
    
    
    
    (14,110
    )
    
    $
    36.64$37.06Shares issued
    
    
    
    
    
    
    (91,911
    )
    
    $
    37.06Balance at December 31, 2007
    
    
    408,875
    
    
    
    93,992
 2007 Annual Report
    
    105




---



##### 



20. INCOME TAXES
  Reconciliation of statutory income tax to income tax expense
  For the year endedDecember 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005Income before taxes
    
    $
    282.6
    
    
    $
    216.3
    
    
    $
    260.3Less: Minority interest
    
    
    0.9
    
    
    
    (0.2
    )
    
    
    0.3Less: Foreign income before taxes
    
    
    1.8
    
    
    
    1.5
    
    
    
    (0.1
    )Domestic income before taxes,
less minority interest
    
    
    279.9
    
    
    
    215.0
    
    
    
    260.1Income tax at statutory rate of 35%
    
    
    98.0
    
    
    
    75.3
    
    
    
    91.0Tax effect of tax-exempt and
dividend income
    
    
    (3.0
    )
    
    
    (2.9
    )
    
    
    (2.9
    )Client list adjustment
    
    
    
    
    
    
    
    
    
    
    (1.4
    )Stock option compensation expense
    
    
    0.3
    
    
    
    0.2
    
    
    
    (0.6
    )State taxes, net of federal tax benefit
    
    
    5.4
    
    
    
    (2.1
    )
    
    
    4.4Other
    
    
    (1.0
    )
    
    
    2.2
    
    
    
    2.5Total income taxes
    
    $
    99.7
    
    
    $
    72.7
    
    
    $
    93.0Current income taxes:Federal taxes
    
    $
    92.4
    
    
    $
    99.5
    
    
    $
    80.4State taxes
    
    
    8.4
    
    
    
    5.4
    
    
    
    6.8Foreign taxes
    
    
    0.5
    
    
    
    0.3
    
    
    
    (0.1
    )Total current income taxes
    
    $
    101.3
    
    
    $
    105.2
    
    
    $
    87.1Deferred income taxes:Federal taxes
    
    $
    0.2
    
    
    $
    (23.8
    )
    
    $
    4.2State taxes
    
    
    (1.8
    )
    
    
    (8.7
    )
    
    
    1.7Total deferred income taxes
    
    $
    (1.6
    )
    
    $
    (32.5
    )
    
    $
    5.9Total income taxes
    
    $
    99.7
    
    
    $
    72.7
    
    
    $
    93.0
   Significant components of deferred tax liabilities and assets
  For the year endedDecember 31 (in millions)
    
    2007
    
    
    2006Deferred tax liabilities:Automobile and equipment leases
    
    $
    1.1
    
    
    $
    1.2Partnerships
    
    
    48.8
    
    
    
    41.0Pension and Supplemental Executive
Retirement Plan
    
    
    14.4
    
    
    
    10.9Accretion of discount
    
    
    3.6
    
    
    
    1.6Amortization expense
    
    
    2.7
    
    
    
    2.0State taxes
    
    
    5.5
    
    
    
    (1.5
    )OCI floors
    
    
    7.6
    
    
    
    (1.4
    )Bonus reserve
    
    
    0.9
    
    
    
    Other
    
    
    4.4
    
    
    
    3.1Total deferred tax liabilities
    
    $
    89.0
    
    
    $
    56.9Deferred tax assets:Loan loss provision
    
    $
    36.5
    
    
    $
    32.6Vacation reserve
    
    
    2.2
    
    
    
    0.9Other postemployment benefits obligation
    
    
    14.3
    
    
    
    13.8Unearned fees
    
    
    19.1
    
    
    
    15.4Market valuation on investment securities
    
    
    12.5
    
    
    
    9.9Additional minimum pension liability
    
    
    14.0
    
    
    
    15.1Interest on nonaccruing loans
    
    
    1.5
    
    
    
    3.7Impairment of goodwill
    
    
    32.1
    
    
    
    30.6Gain on sale of securities
    
    
    2.2
    
    
    
    0.8Stock option compensation expense
    
    
    6.6
    
    
    
    5.4Tax depreciation
    
    
    1.4
    
    
    
    (2.2
    )Client list
    
    
    0.3
    
    
    
    (1.3
    )Other
    
    
    1.3
    
    
    
    3.0Total deferred tax assets
    
    $
    144.0
    
    
    $
    127.7Net deferred tax assets
    
    $
    55.0
    
    
    $
    70.8
  106     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Unrecognized tax benefits/(liabilities)
  (In millions)Balance at January 1, 2007
    
    $
    (2.7
    )Additions based on tax positions related to
the current year
    
    
    (1.2
    )Additions for tax positions of prior years
    
    
    (1.4
    )Reductions for tax positions of prior years
    
    
    0.1Reductions
due to settlements and payments
    
    
    2.9Reductions due to statute expirations
    
    
    Balance at December 31, 2007
    
    $
    (2.4
    )
    21. ACCUMULATED OTHER COMPREHENSIVE INCOME
   Components of accumulated other comprehensive income
  For the year
    
    2007
    
    
    2006
    
    
    2005Net unrealized gains/(losses) on
securities, net of taxes of $(11.9),
$(9.3), and $(12.1)
    
    $
    (21.2
    )
    
    $
    (16.6
    )
    
    $
    (21.5
    )Net unrealized holding gains/(losses)
on derivatives, net of taxes of $6.8,
$(1.5), and $0.0
    
    
    12.7
    
    
    
    (2.7
    )
    
    
    Reclassification adjustment of derivative
costs, net of taxes of $0.8, $0.1,
and $0.0
    
    
    1.4
    
    
    
    0.1
    
    
    
    Minimum pension liability, net of taxes
of $(6.4), $(12.9), and $0.0
    
    
    (11.7
    )
    
    
    (23.9
    )
    
    
    Minimum SERP liability, net of taxes of
$(2.6), $(2.2) and $(0.4)
    
    
    (4.8
    )
    
    
    (4.1
    )
    
    
    (0.7
    )Minimum postretirement benefits liability,
net of taxes of $(3.5), $(3.9), and $0.0
    
    
    (6.7
    )
    
    
    (7.1
    )
    
    
    Foreign currency translation, net of taxes
of $1.1, $0.9, and $0.2
    
    
    1.9
    
    
    
    1.6
    
    
    
    0.4Total accumulated other
comprehensive income
    
    $
    (28.4
    )
    
    $
    (52.7
    )
    
    $
    (21.8
    )
 Accumulated derivative gains/(losses) on cash flow hedges
  For the year
    
    2007
    
    
    2006
    
    
    2005Beginning accumulated derivative gains/
(losses) on cash flow hedges
    
    $
    (2.7
    )
    
    $
    
    
    
    $
    0.1Net change associated with current
year hedging transactions
    
    
    15.4
    
    
    
    (2.7
    )
    
    
    Net amount reclassified into earnings
    
    
    
    
    
    
    
    
    
    
    (0.1
    )Ending accumulated derivative gains/
(losses) on cash flow hedges
    
    $
    12.7
    
    
    $
    (2.7
    )
    
    $
    
 2007 Annual Report
    
    107




---



##### 



22. EARNINGS PER SHARE
  Computation of basic and diluted net earnings per share
  (In millions, except earningsper share and dividends per share)
    
    2007
    
    
    2006
    
    
    2005Numerator:Net income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0Denominator for basic earnings
per share:Weighted average shares
    
    
    67.9
    
    
    
    68.4
    
    
    
    67.7Effect of dilutive securities:Employee stock options,
nonvested restricted stock, and
ESPP subscriptions
    
    
    1.0
    
    
    
    1.3
    
    
    
    0.9Denominator for diluted earnings
per share:Adjusted weighted-average shares
and assumed conversions
    
    
    68.9
    
    
    
    69.7
    
    
    
    68.6Basic earnings per share
    
    $
    2.68
    
    
    $
    2.10
    
    
    $
    2.47Diluted earnings per share
    
    $
    2.64
    
    
    $
    2.06
    
    
    $
    2.43Annual cash dividend declared per share
    
    $
    1.32
    
    
    $
    1.245
    
    
    $
    1.185Anti-dilutive stock options excluded
    
    
    0.3
    
    
    
    0.5
    
    
    
    0.5
  23. SEGMENT REPORTING
    
   108     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




---



##### 



Segment reporting
 
 Wealth
    
    
    Corporate
    
    
    AffiliateRegional
    
    
    Advisory
    
    
    Client
    
    
    MoneyFor the year ended December 31, 2007 (in millions)
    
    Banking
    
    
    Services
    
    
    Services
    
    
    Managers
    
    
    TotalsNet interest income
    
    $
    342.0
    
    
    $
    25.3
    
    
    $
    13.7
    
    
    $
    (12.1
    )
    
    $
    368.9Provision for loan losses
    
    
    (24.4
    )
    
    
    (3.8
    )
    
    
    
    
    
    
    
    
    
    
    (28.2
    )Net interest income after provision
    
    
    317.6
    
    
    
    21.5
    
    
    
    13.7
    
    
    
    (12.1
    )
    
    
    340.7Advisory fees:Wealth Advisory Services
    
    
    2.8
    
    
    
    210.9
    
    
    
    6.4
    
    
    
    
    
    
    
    220.1Corporate Client Services
    
    
    1.3
    
    
    
    
    
    
    
    97.3
    
    
    
    
    
    
    
    98.6Affiliate Money Managers
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    21.9
    
    
    
    21.9Advisory fees
    
    
    4.1
    
    
    
    210.9
    
    
    
    103.7
    
    
    
    21.9
    
    
    
    340.6Amortization of affiliate intangibles
    
    
    
    
    
    
    (3.1
    )
    
    
    (0.6
    )
    
    
    (1.0
    )
    
    
    (4.7
    )Advisory fees after amortization of affiliate intangibles
    
    
    4.1
    
    
    
    207.8
    
    
    
    103.1
    
    
    
    20.9
    
    
    
    335.9Other noninterest income
    
    
    47.3
    
    
    
    1.8
    
    
    
    0.9
    
    
    
    
    
    
    
    50.0Securities gains
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.1Net interest and noninterest income
    
    
    369.1
    
    
    
    231.1
    
    
    
    117.7
    
    
    
    8.8
    
    
    
    726.7Noninterest expense
    
    
    (170.5
    )
    
    
    (188.2
    )
    
    
    (85.4
    )
    
    
    
    
    
    
    (444.1
    )Segment profit before income taxes
    
    
    198.6
    
    
    
    42.9
    
    
    
    32.3
    
    
    
    8.8
    
    
    
    282.6Applicable income taxes and minority interest
    
    
    69.0
    
    
    
    15.4
    
    
    
    11.5
    
    
    
    4.7
    
    
    
    100.6Segment net income
    
    $
    129.6
    
    
    $
    27.5
    
    
    $
    20.8
    
    
    $
    4.1
    
    
    $
    182.0Depreciation and amortization
    
    $
    12.6
    
    
    $
    9.1
    
    
    $
    4.6
    
    
    $
    1.0
    
    
    $
    27.3Investment in equity method investees
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    215.3
    
    
    $
    215.3Segment average assets
    
    $
    9,172.0
    
    
    $
    1,412.8
    
    
    $
    203.3
    
    
    $
    209.3
    
    
    $
    10,997.4Efficiency ratio
    
    
    42.95
    %
    
    
    80.05
    %
    
    
    72.43
    %
    
    
    
    %
    
    
    58.53
    %
 Wealth
    
    
    Corporate
    
    
    AffiliateRegional
    
    
    Advisory
    
    
    Client
    
    
    MoneyFor the year ended December 31, 2006 (in millions)
    
    Banking
    
    
    Services
    
    
    Services
    
    
    Managers
    
    
    TotalsNet interest income
    
    $
    334.9
    
    
    $
    25.7
    
    
    $
    15.0
    
    
    $
    (12.5
    )
    
    $
    363.1Provision for loan losses
    
    
    (20.5
    )
    
    
    (0.8
    )
    
    
    
    
    
    
    
    
    
    
    (21.3
    )Net interest income after provision
    
    
    314.4
    
    
    
    24.9
    
    
    
    15.0
    
    
    
    (12.5
    )
    
    
    341.8Advisory fees:Wealth Advisory Services
    
    
    2.3
    
    
    
    184.4
    
    
    
    5.3
    
    
    
    
    
    
    
    192.0Corporate Client Services
    
    
    1.0
    
    
    
    
    
    
    
    84.6
    
    
    
    
    
    
    
    85.6Affiliate
Money Managers
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    20.5
    
    
    
    20.5Advisory fees
    
    
    3.3
    
    
    
    184.4
    
    
    
    89.9
    
    
    
    20.5
    
    
    
    298.1Amortization of affiliate intangibles
    
    
    
    
    
    
    (2.7
    )
    
    
    (0.6
    )
    
    
    (0.9
    )
    
    
    (4.2
    )Advisory fees after amortization of affiliate intangibles
    
    
    3.3
    
    
    
    181.7
    
    
    
    89.3
    
    
    
    19.6
    
    
    
    293.9Other noninterest income
    
    
    48.6
    
    
    
    2.3
    
    
    
    1.1
    
    
    
    
    
    
    
    52.0Securities gains
    
    
    0.2
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.2Net interest and noninterest income
    
    
    366.5
    
    
    
    208.9
    
    
    
    105.4
    
    
    
    7.0
    
    
    
    687.9Noninterest expense
    
    
    (157.6
    )
    
    
    (166.0
    )
    
    
    (75.6
    )
    
    
    (72.4

)1
    
    
    (471.6
    )Segment profit before income taxes
    
    
    208.9
    
    
    
    42.9
    
    
    
    29.8
    
    
    
    (65.3
    )
    
    
    216.3Applicable income taxes and minority interest
    
    
    73.3
    
    
    
    15.2
    
    
    
    9.9
    
    
    
    (25.9
    )
    
    
    72.5Segment net income
    
    $
    135.6
    
    
    $
    27.7
    
    
    $
    19.9
    
    
    $
    (39.4
    )
    
    $
    143.8Depreciation and amortization
    
    $
    12.7
    
    
    $
    9.2
    
    
    $
    4.7
    
    
    $
    0.9
    
    
    $
    27.5Investment in equity method investees
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    198.9
    
    
    $
    198.9Segment average assets
    
    $
    8,650.3
    
    
    $
    1,381.2
    
    
    $
    216.6
    
    
    $
    247.0
    
    
    $
    10,495.1Efficiency ratio
    
    
    40.33
    %
    
    
    79.05
    %
    
    
    71.59
    %
    
    
    
    %
    
    
    66.10
    %
 
 1
    
    Includes non-cash impairment write-down.  2007 Annual Report
    
    109




---



##### 



Wealth
    
    
    Corporate
    
    
    AffiliateRegional
    
    
    Advisory
    
    
    Client
    
    
    MoneyFor the year ended December 31, 2005 (in millions)
    
    Banking
    
    
    Services
    
    
    Services
    
    
    Managers
    
    
    TotalsNet interest income
    
    $
    303.1
    
    
    $
    24.1
    
    
    $
    11.4
    
    
    $
    (9.7
    )
    
    $
    328.9Provision for loan losses
    
    
    (11.2
    )
    
    
    (0.6
    )
    
    
    
    
    
    
    
    
    
    
    (11.8
    )Net interest income after provision
    
    
    291.9
    
    
    
    23.5
    
    
    
    11.4
    
    
    
    (9.7
    )
    
    
    317.1Advisory fees:Wealth Advisory Services
    
    
    1.9
    
    
    
    164.8
    
    
    
    5.4
    
    
    
    
    
    
    
    172.1Corporate Client Services
    
    
    0.9
    
    
    
    
    
    
    
    75.4
    
    
    
    
    
    
    
    76.3Affiliate
Money Managers
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    17.5
    
    
    
    17.5Advisory fees
    
    
    2.8
    
    
    
    164.8
    
    
    
    80.8
    
    
    
    17.5
    
    
    
    265.9Amortization of affiliate intangibles
    
    
    
    
    
    
    (2.8
    )
    
    
    (0.5
    )
    
    
    (0.7
    )
    
    
    (4.0
    )Advisory fees after amortization of affiliate intangibles
    
    
    2.8
    
    
    
    162.0
    
    
    
    80.3
    
    
    
    16.8
    
    
    
    261.9Other noninterest income
    
    
    47.8
    
    
    
    1.8
    
    
    
    1.0
    
    
    
    
    
    
    
    50.6Securities gains
    
    
    0.8
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.8Net interest and noninterest income
    
    
    343.3
    
    
    
    187.3
    
    
    
    92.7
    
    
    
    7.1
    
    
    
    630.4Noninterest expense
    
    
    (151.0
    )
    
    
    (151.7
    )
    
    
    (67.4
    )
    
    
    
    
    
    
    (370.1
    )Segment profit before income taxes
    
    
    192.3
    
    
    
    35.6
    
    
    
    25.3
    
    
    
    7.1
    
    
    
    260.3Applicable income taxes and minority interest
    
    
    67.8
    
    
    
    12.0
    
    
    
    9.1
    
    
    
    4.4
    
    
    
    93.3Segment net income
    
    $
    124.5
    
    
    $
    23.6
    
    
    $
    16.2
    
    
    $
    2.7
    
    
    $
    167.0Depreciation and amortization
    
    $
    14.0
    
    
    $
    9.1
    
    
    $
    4.6
    
    
    $
    0.7
    
    
    $
    28.4Investment in equity method investees
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    260.8
    
    
    $
    260.8Segment average assets
    
    $
    8,013.1
    
    
    $
    1,340.9
    
    
    $
    190.6
    
    
    $
    258.4
    
    
    $
    9,803.0Efficiency ratio
    
    
    42.19
    %
    
    
    80.61
    %
    
    
    72.55
    %
    
    
    
    %
    
    
    57.28
    %
 24. WILMINGTON TRUST CORPORATION (CORPORATION ONLY)
  Statements of Condition
 For the year endedDecember 31 (in millions)
    
    2007
    
    
    2006Assets:Cash and due from banks
    
    $
    11.2
    
    
    $
    36.2Investment in subsidiaries
    
    
    1,346.6
    
    
    
    1,232.6Investment securities available for sale
    
    
    54.2
    
    
    
    84.5Advance to subsidiaries
    
    
    84.4
    
    
    
    80.4Income taxes receivable
    
    
    3.8
    
    
    
    5.4Other assets
    
    
    5.0
    
    
    
    1.7Total assets
    
    $
    1,505.2
    
    
    $
    1,440.8Liabilities and stockholdersequity:Liabilities
    
    $
    5.6
    
    
    $
    6.0Line of credit and other debt
    
    
    139.5
    
    
    
    15.0Long-term debt
    
    
    239.8
    
    
    
    360.5Stockholders equity
    
    
    1,120.3
    
    
    
    1,059.3Total
liabilities and stockholders equity
    
    $
    1,505.2
    
    
    $
    1,440.8
 Statements of Income
 For the year endedDecember 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005Income:Dividend from subsidiaries
    
    $
    142.1
    
    
    $
    73.2
    
    
    $
    88.2Interest on advance to subsidiaries
    
    
    5.8
    
    
    
    5.3
    
    
    
    3.8Interest
    
    
    2.6
    
    
    
    3.3
    
    
    
    3.9Securities gains
    
    
    0.1
    
    
    
    0.1
    
    
    
    Total income
    
    $
    150.6
    
    
    $
    81.9
    
    
    $
    95.9Expense:Interest on other borrowings
    
    $
    7.9
    
    
    $
    0.5
    
    
    $
    Interest on long-term debt
    
    
    17.6
    
    
    
    24.0
    
    
    
    18.6Salaries, incentives, and bonuses
    
    
    0.3
    
    
    
    0.5
    
    
    
    6.6Other noninterest expense
    
    
    1.4
    
    
    
    2.4
    
    
    
    2.2Total expense
    
    $
    27.2
    
    
    $
    27.4
    
    
    $
    27.4Income before income tax benefit
and equity in undistributed income
of subsidiaries
    
    $
    123.4
    
    
    $
    54.5
    
    
    $
    68.5Income tax benefit
    
    
    (5.5
    )
    
    
    (5.8
    )
    
    
    (5.2
    )Equity in undistributed income
of subsidiaries
    
    
    53.1
    
    
    
    83.5
    
    
    
    93.3Net income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0
 110     Notes to Consolidated Financial Statements
    
    Wilmington Trust Corporation




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##### 



Statements of Cash Flows
  For the year endedDecember 31 (in millions)
    
    2007
    
    
    2006
    
    
    2005OPERATING ACTIVITIESNet income
    
    $
    182.0
    
    
    $
    143.8
    
    
    $
    167.0Adjustments to reconcile net income
to net cash provided by
operating activities:Equity in undistributed income
of subsidiaries
    
    
    (53.1
    )
    
    
    (83.5
    )
    
    
    (93.3
    )Amortization of premiums on
investment securities available
for sale
    
    
    0.3
    
    
    
    0.3
    
    
    
    0.5Securities gains
    
    
    (0.1
    )
    
    
    (0.1
    )
    
    
    Stock-based compensation expense
    
    
    0.3
    
    
    
    0.5
    
    
    
    6.6Tax benefit realized on employee
exercise of stock options
    
    
    
    
    
    
    
    
    
    
    (1.1
    )Decrease in other assets
    
    
    2.7
    
    
    
    4.9
    
    
    
    0.6Increase in other liabilities
    
    
    1.0
    
    
    
    0.4
    
    
    
    1.8Net cash provided by operating activities
    
    
    133.1
    
    
    
    66.3
    
    
    
    82.1INVESTING ACTIVITIESProceeds from sales of investment
securities available for sale
    
    
    1.0
    
    
    
    7.2
    
    
    
    Proceeds from maturities of investment
securities available for sale
    
    
    29.8
    
    
    
    11.0
    
    
    
    17.8Purchases of investment securities
available for sale
    
    
    (0.4
    )
    
    
    (7.4
    )
    
    
    (4.7
    )Capital contribution to subsidiaries
    
    
    (31.2
    )
    
    
    (6.8
    )
    
    
    (11.9
    )Advance to subsidiary
    
    
    (15.3
    )
    
    
    (15.9
    )
    
    
    Repayment of advance to subsidiary
    
    
    11.3
    
    
    
    13.3
    
    
    
    15.1Swap termination
    
    
    
    
    
    
    (12.7
    )
    
    
    Net cash provided by investing activities
    
    
    (4.8
    )
    
    
    (11.3
    )
    
    
    16.3FINANCING ACTIVITIESCash dividends
    
    
    (89.9
    )
    
    
    (85.1
    )
    
    
    (80.2
    )Net increase in line of credit
    
    
    
    
    
    
    15.0
    
    
    
    Proceeds from common stock issued
under employment benefit plans
    
    
    23.1
    
    
    
    31.4
    
    
    
    14.8Tax benefit realized on employee
exercise of stock options
    
    
    
    
    
    
    
    
    
    
    1.1Acquisition of treasury stock
    
    
    (86.5
    )
    
    
    (29.1
    )
    
    
    (1.9
    )Net cash used for financing activities
    
    
    (153.3
    )
    
    
    (67.8
    )
    
    
    (66.2
    )(Decrease)/increase in cash and
cash equivalents
    
    
    (25.0
    )
    
    
    (12.8
    )
    
    
    32.2Cash and cash equivalents at
beginning of year
    
    
    36.2
    
    
    
    49.0
    
    
    
    16.8Cash and cash equivalents at end of year
    
    $
    11.2
    
    
    $
    36.2
    
    
    $
    49.0
  25. SUBSEQUENT EVENT
    2007 Annual Report
    
    111




---



##### 



MANAGEMENTS DISCUSSION
OF FINANCIAL RESPONSIBILITY
   MAINTAINING A STRONG INTERNAL CONTROL ENVIRONMENT.
   ENGAGING STRONG AND EFFECTIVE CORPORATE GOVERNANCE.
   PRESENTING FINANCIAL RESULTS THAT ARE COMPLETE,
TRANSPARENT, AND UNDERSTANDABLE.
  MANAGEMENTS REPORT ON
INTERNAL CONTROL OVER FINANCIAL REPORTING.
 Internal Control  Integrated
Framework
 
 Ted T. Cecala
 
 Robert V.A. Harra Jr.
 
 David R. Gibson
 112      Managements Discussion of Financial Responsibility
    
    Wilmington Trust Corporation




---



##### 



REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
     Internal Control  Integrated Framework .
   113




---



##### 



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
 Internal
Control  Integrated Framework . Managements Report on Internal Control Over
Financial Reporting
    Internal Control
- Integrated Framework


114




---



##### 



BOARD OF DIRECTORS
 CAROLYN S. BURGER 3*
 TED T. CECALA
 THOMAS L. du PONT 2,3
 R. KEITH ELLIOTT 1*
 DONALD E. FOLEY 1
 ROBERT V.A. HARRA JR.
 GAILEN KRUG 1,2
 REX L. MEARS 2
 STACEY J. MOBLEY 3
 MICHELE M. ROLLINS, ESQ.
 DR. DAVID P. ROSELLE 1,2*
 OLIVER R. SOCKWELL JR.
 ROBERT W. TUNNELL JR. 1
 SUSAN D. WHITING 2,3
 Standing Committees of the Board
 1 Audit Committee
 2 Compensation Committee
 3 Nominating and Corporate Governance Committee
 * Denotes committee chair
 WILMINGTON TRUST PRINCIPAL OFFICERS
 TED T. CECALA
 ROBERT V.A. HARRA JR.
 ROBERT M. BALENTINE
 WILLIAM J. FARRELL II
 DAVID R. GIBSON
 MARK A. GRAHAM
 MICHAEL A. DIGREGORIO
 KEVYN N. RAKOWSKI
 RONALD K. PENDLETON
 2007 Annual Report
    
    115




---



##### 



STOCKHOLDER INFORMATION
  STOCK MARKET LISTING
  
 ®
  STOCK PRICE PERFORMANCE
   STOCKHOLDER RETURN
 
 Source: KBW Research, SNL DataSource, FectSet Research
 Cumulative total stockholder return
 As of December 31
    
    2002
    
    
    2003
    
    
    2004
    
    
    2005
    
    
    2006
    
    
    2007WL
    
    $
    100.0
    
    
    $
    117.6
    
    
    $
    121.8
    
    
    $
    135.4
    
    
    $
    151.0
    
    
    $
    130.3S&P 500 Index
    
    $
    100.0
    
    
    $
    128.6
    
    
    $
    142.6
    
    
    $
    149.6
    
    
    $
    173.1
    
    
    $
    182.6KBW 50 Bank Index
    
    $
    100.0
    
    
    $
    134.0
    
    
    $
    147.5
    
    
    $
    149.2
    
    
    $
    178.2
    
    
    $
    137.2
 Stock performance and per-share dividends paid
 2007
    
    
    2006
    
    
    2005Dividend
    
    
    
    
    
    
    
    
    
    
    Dividend
    
    
    
    
    
    
    
    
    
    
    DividendQuarter
    
    High
    
    
    Low
    
    
    Paid
    
    
    High
    
    
    Low
    
    
    Paid
    
    
    High
    
    
    Low
    
    
    PaidFirst
    
    $
    44.55
    
    
    $
    39.74
    
    
    $
    0.315
    
    
    $
    44.80
    
    
    $
    38.54
    
    
    $
    0.300
    
    
    $
    36.26
    
    
    $
    33.40
    
    
    $
    0.285Second
    
    $
    43.14
    
    
    $
    39.62
    
    
    $
    0.335
    
    
    $
    45.21
    
    
    $
    40.22
    
    
    $
    0.315
    
    
    $
    36.49
    
    
    $
    33.01
    
    
    $
    0.300Third
    
    $
    42.14
    
    
    $
    36.46
    
    
    $
    0.335
    
    
    $
    45.61
    
    
    $
    40.52
    
    
    $
    0.315
    
    
    $
    39.36
    
    
    $
    35.35
    
    
    $
    0.300Fourth
    
    $
    42.00
    
    
    $
    32.57
    
    
    $
    0.335
    
    
    $
    45.33
    
    
    $
    40.54
    
    
    $
    0.315
    
    
    $
    40.96
    
    
    $
    34.65
    
    
    $
    0.300Total
    
    $
    44.55
    
    
    $
    32.57
    
    
    $
    1.32
    
    
    $
    45.61
    
    
    $
    38.54
    
    
    $
    1.250
    
    
    $
    40.96
    
    
    $
    33.01
    
    
    $
    1.185Dividend payout ratio
    
    
    
    
    
    
    
    
    
    
    49.40
    %
    
    
    
    
    
    
    
    
    
    
    59.18
    %
    
    
    
    
    
    
    
    
    
    
    48.02
    %Dividend payout ratio
excluding impairment
write-down
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    45.88
    %
 116     Stockholder Information
    
    Wilmington Trust Corporation




---



##### 



STOCKHOLDER INFORMATION
 Per-share price and book value
  2007
    
    
    2006
    
    
    2005At quarter end
    
    Closing price
    
    
    Book value
    
    
    Closing price
    
    
    Book value
    
    
    Closing price
    
    
    Book valueFirst
    
    $
    42.17
    
    
    $
    15.90
    
    
    $
    43.35
    
    
    $
    15.30
    
    
    $
    35.10
    
    
    $
    13.56Second
    
    $
    41.51
    
    
    $
    15.77
    
    
    $
    42.18
    
    
    $
    15.54
    
    
    $
    36.01
    
    
    $
    14.08Third
    
    $
    38.90
    
    
    $
    16.23
    
    
    $
    44.55
    
    
    $
    15.56
    
    
    $
    36.45
    
    
    $
    14.35Fourth
    
    $
    35.20
    
    
    $
    16.70
    
    
    $
    42.17
    
    
    $
    15.46
    
    
    $
    38.91
    
    
    $
    14.99
 Statistical information
  At year end
    
    2007
    
    
    2006
    
    
    2005Shareholders of record (approximate)
    
    
    7,718
    
    
    
    7,962
    
    
    
    8,180Diluted shares outstanding (average)
    
    
    68,860,623
    
    
    
    69,674,934
    
    
    
    68,570,161Basic shares outstanding (period end)
    
    
    67,068,546
    
    
    
    68,459,514
    
    
    
    67,903,279Market capitalization
    
    $2.36 billion
    
    $2.89 billion
    
    $2.64 billion
  ABOUT OUR DIVIDEND
   Dividend
Achievers
  ANNUAL MEETING
    INQUIRIES REGARDING STOCK HOLDINGS
   Wells Fargo Bank, N.A.
 Mailing Address
    
    Street AddressWells Fargo
    
    Wells FargoShareowner Services
    
    Shareowner ServicesP.O. Box 64854
    
    161 North Concord ExchangeSt. Paul, MN 55164
    
    South St. Paul, MN 55075
  2007 Annual Report
    
    117




---



##### 



STOCKHOLDER INFORMATION
  DIVIDEND REINVESTMENT AND VOLUNTARY STOCK PURCHASE PLAN
    ADDITIONAL INFORMATION
      SEC CERTIFICATIONS
  2007 Annual Report
on Form 10-K
  HOW TO CONTACT US
  Investors should direct
    
    Members of the news mediainquiries to:
    
    should direct inquiries to:IR@wilmingtontrust.com
    
    media@wilmingtontrust.comEllen J. Roberts
    
    J. William BenintendeVice President,
    
    Vice President,Investor Relations
    
    Public Relations302.651.8069
    
    302.651.8268
 ®
  CORPORATE HEADQUARTERS
  
   INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  
 ©2008 Wilmington Trust Corporation. Affiliates in California, Delaware, Florida, Georgia, Maryland,
Massachusetts, Minnesota, Nevada, New Jersey, New York, and Pennsylvania. Members FDIC. Other
affiliates in Connecticut, South Carolina, Vermont, London, Dublin, Frankfurt, Luxembourg, Channel
Islands, and Cayman Islands.
 118     Stockholder Information
    
    Wilmington Trust Corporation




---



##### 



CORPORATE HEADQUARTERS
Rodney Square North
1100 North Market Street
Wilmington, DE 19890-0001
302.651.1000
www.wilmingtontrust.com
    
    CALIFORNIA
BEVERLY HILLS
310.288.6200COSTA MESA
714.384.4150LOS ANGELES
310.300.3050CONNECTICUT
STAMFORD
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47 branch offices
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NORTH PALM BEACH
561.630.1477PALM BEACH
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404.760.2100MARYLAND
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410.468.4325BEL AIR
866.243.2290MASSACHUSETTS
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617.457.2000MINNESOTA
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952.921.2176NEVADA
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702.866.2200
    
    NEW JERSEY
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856.642.4058PRINCETON
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 7