-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ToSu9tqjbX5BxVm/oKVNi+32Gn8fTc2HJ96zeuMkAqGHAaiejCLly4woOMDjYFaf SVLeLhQDpf96S6ftneb7eA== 0000893220-08-000824.txt : 20080325 0000893220-08-000824.hdr.sgml : 20080325 20080325102259 ACCESSION NUMBER: 0000893220-08-000824 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080325 ITEM INFORMATION: Other Events FILED AS OF DATE: 20080325 DATE AS OF CHANGE: 20080325 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WILMINGTON TRUST CORP CENTRAL INDEX KEY: 0000872821 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 510328154 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14659 FILM NUMBER: 08708459 BUSINESS ADDRESS: STREET 1: RODNEY SQUARE NORTH STREET 2: 1100 NORTH MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19890-0001 BUSINESS PHONE: 3026518378 MAIL ADDRESS: STREET 1: 1100 NORTH MARKET STREET CITY: WILMINGTON STATE: DE ZIP: 19890-0001 8-K 1 w52208e8vk.htm FORM 8-K WILMINGTON TRUST CORPORATION e8vk
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 25, 2008
 
WILMINGTON TRUST CORPORATION
 
(Exact name of registrant as specified in its charter)
         
Delaware   1-14659   51-0328154
 
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification Number)
     
Wilmington Trust Corporation    
Rodney Square North    
1100 North Market Street    
Wilmington, Delaware   19890
 
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (302) 651-1000
 
(Former names or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 230.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

ITEM 8.01   OTHER EVENTS
Wilmington Trust today issued a press release in the form attached as Exhibit A.

 


 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
         
     
     
     
     
 
         
  WILMINGTON TRUST CORPORATION
 
 
Dated: March 25, 2008  By:   /s/ David R. Gibson    
    Name:   David R. Gibson   
    Title:   Executive Vice President
Chief Financial Officer
(Authorized Officer) 
 
 

 

EX-99.(A) 2 w52208exv99wxay.htm PRESS RELEASE exv99wxay
 

EXHIBIT 99
EXHIBIT A

 


 

     
(WILMINGTON LOGO)
  Wilmington Trust
Corporation
Rodney Square North
1100 North Market
Street Wilmington, DE 19890-0001
News Release
Contacts
     
News Media
  Investors and Analysts
 
   
Bill Benintende
  Ellen J. Roberts
Public Relations
  Investor Relations
302-651-8268
  302-651-8069
wbenintende@wilmingtontrust.com
  eroberts@wilmingtontrust.com
Wilmington Trust Announces Resolution of Loans to Elliott Building Group
Bank anticipates recovery of approximately 97% of remaining loans to real estate developer
Wilmington, DE, March 25, 2008 – Wilmington Trust announced today that it has forged agreements to sell two housing developments in southern New Jersey to separate buyers, with the expected result being the recovery of approximately 97% percent of the remaining balance of loans it had made to the Elliott Building Group (Elliott), the Pennsylvania-based real estate developer of the two properties. One of the two transactions has already closed; the other is expected to close by March 31, 2008.
Wilmington Trust’s loans to Elliott totaled $10.3 million and were placed on nonaccruing status in June 2007, when Elliott filed for bankruptcy. Approximately $8.9 million of this amount was transferred to Other Real Estate Owned (OREO) during the fourth quarter of 2007, when Wilmington Trust took possession of the real estate. As of December 31, 2007, Wilmington Trust’s loans to Elliott represented 98% of its OREO balance. After the close of the second transaction, Wilmington Trust’s total loss on its OREO related to Elliott will be less than $320,000. Wilmington Trust is not financing the purchase of the properties.
“We are very pleased that we are able to sell these properties in this economic environment and recover almost the full amount of their estimated value,” said Ted T. Cecala, Wilmington Trust’s chairman and chief executive officer. “That we are able to do this reflects our strong underwriting standards and excellent work by our loan work-out and recovery specialists.”
Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid Atlantic region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 86 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts,

 


 

Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, and Luxembourg.
###

 

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