Wilmington Trust loans cost pall on 4Q

Wilmington Trust Corp. lost $213.8 million in the fourth quarter, as problem loans to residential developers continued to bedevil Delaware's largest bank.

The bank, which plans to merge with M&T Bank Corp. this year, set aside an additional $135.6 million to cover future loan losses, giving the company $440.8 million in reserves.

Charge-offs totaled $205.2 million in the quarter, up from $144.9 million in the third quarter.

Total nonperforming assets climbed to $1.15 billion on Dec. 31, up from $988.6 million on Sept. 30.

Shares were priced at $4.36, down 3 cents, at noon on the New York Stock Exchange.    - Harold Brubaker