Wilmington Trust Announces Third Quarter EPS of $(4.06)

Wilmington Trust Corporation WL reported a loss of $365.3 million for the 2010 third quarter. After dividends and accretion on preferred stock, the net loss available to common shareholders was $369.9 million, or $4.06 per share.

The primary causes of the loss were:

• Continued deterioration in commercial credit quality, which resulted in a loan loss provision of $281.5 million.
• Income tax expense of $100.7 million, as the company established a valuation allowance on deferred tax assets.