Wilmington Trust Corp.'s earnings rose slightly in the fourth quarter as revenue gains from its corporate client services and wealth advisory businesses were offset by higher expenses.
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The Wilmington, Del., company announced Friday that net income increased 2.2% from a year earlier, to $47.5 million, or 68 cents a share, which missed the average estimate of analysts polled by Thomson Financial by 2 cents.
Net interest income rose 5.6%, to $92.4 million, and noninterest income increased 16%, to $92.5 million, because of a 20% gain in revenue from Wilmington Trust's wealth advisory business. However, noninterest expenses increased 11%, to $104.9 million.
