Wilmington Trust Corp. reported Friday that its first-quarter earnings totaled $44.1 million, up 13% from the year earlier on growth in each business line, a 10% rise in loan balances, and a positive rate environment.
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Loan balances averaged $7.45 billion in the quarter, and credit quality was good, as signaled by the fact that more than 97% of loans outstanding passed the internal risk rating analysis, the company said. The net interest margin rose to 3.77%, from 3.64% the year earlier.
The quarter's return on average assets at an annual rate was 1.76%, compared with 1.68% a year earlier, and return on average equity was 17.42%, compared with 17.32%.
