Wilmington Trust Corp. in Delaware said its first-quarter earnings rose on strong loan growth.
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The $10.1 billion-asset company said Friday that net income increased 13% from a year earlier, to $44.1 million. The loan portfolio grew 10%, to $7.45 billion. Commercial real estate loans grew 61%, to $1.32 billion. Consumer loans grew 15%, to $1.42 billion, in part because of expanded indirect lending in Maryland.
During the quarter Wilmington Trust opened two Delaware branches, in Middletown and Millville.
Wilmington Trust also announced that it would raise its quarterly cash dividend by 5%, to 31.5 cents a share. The dividend is payable May 15.
The company has raised its dividend for 25 consecutive years.
