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WILMINGTON TRUST THIRD QUARTER EARNINGS UP 7 PERCENT AND A THREE MILLION SHARE STOCK BUYBACK PROGRAM AUTHORIZED

 WILMINGTON, Del., Oct. 21 /PRNewswire/ -- Wilmington Trust Co. (NASDAQ: WILM), reported a 7 percent increase in third quarter earnings and announced a three million share stock buyback program.
 Earnings per share were a third quarter record of $.59, up 7 percent from the $.55 reported for the same quarter a year earlier. Income for the third quarter of 1993 reached $21.8 million, up 5 percent from the $20.8 million reported for the third quarter of 1992. Net interest income for the quarter reached $43.5 million, up 3 percent from the $42.2 million reported last year. The net interest margin improved to 4.72 percent, versus 4.69 percent for the third quarter a year ago. Other income for the third quarter was $29.0 million, up 7 percent from $27.1 million a year ago.
 For the first nine months of 1993, earnings per share were $1.67, up 9 percent from the $1.53 reported a year ago before the adjustment for FAS 106. Income for the nine-month period reached $61.9 million, up 7 percent from the $58.1 million reported for the same period last year.
 On Sept. 30, 1993, total assets amounted to $4.3 billion. The year-to-date results produced, on an annualized basis, a return on assets of 2.00 percent and return on equity of 21.20 percent, compared to 1.87 percent and 20.38 percent, respectively, reported for the first nine months a year ago before the adjustment for FAS 106.
 As of Sept. 30, 1993, total loans outstanding were $2.9 billion, total deposits were $3.3 billion and stockholders' equity reached $399.4 million.
 The board of directors authorized the buyback of three million shares of the corporation's stock. This program is in addition to a previous stock buyback program of two million shares, announced in April 1992, which is almost completed. The repurchased shares will be held as treasury stock and may be reissued in connection with acquisitions, the exercise of stock options and other corporate purposes. Currently, there are 36.9 million shares of Wilmington Trust stock outstanding.
 Wilmington Trust Company, principal subsidiary of Wilmington Trust Corporation, currently has 60 branches in Delaware, one branch in West Chester, Pa., and three trust offices in Florida. Earlier this month, Wilmington Trust Corporation acquired Freedom Valley Bank, which has four branches in southeastern Pennsylvania.
 The Wilmington Trust Corporation Board of Directors today declared a regular quarterly dividend of $.25 a share, payable Nov. 15, 1993 to stockholders of record on Nov. 1.
 WILMINGTON TRUST CORPORATION AND SUBSIDIARIES
 FINANCIAL HIGHLIGHTS
 (in thousands, except per share)
 Dollar Percent
 Nine months ended Sept. 30, 1993 1992 Change Change
 Income before
 cumulative effect
 of change in
 accounting
 principle $ 61,915 $ 58,060 $ 3,855 6.6
 Cumulative effect
 of change in
 accounting
 principle (net
 of income tax
 benefit of $8,296) $ -- $ (14,749) $ (14,749) (100.0)
 Net income $ 61,915 $ 43,311 $ 18,604 43.0
 Per Share Data:
 Income before
 cumulative
 effect of
 change in
 accounting
 principle $ 1.67 $ 1.53 $ 0.14 9.2
 Cumulative effect
 of change in
 accounting
 principle $ -- $ (0.39) $ (0.39) (100.0)
 Net income $ 1.67 $ 1.14 $ 0.53 46.5
 Average Shares
 Outstanding 37,185 37,941
 Return on assets
 before cumulative
 effect of change
 in accounting
 principle (percent) 2.00 1.87
 Return on stockholders'
 equity before
 cumulative effect
 of change in
 accounting principle 21.20 20.38
 Return on Assets 2.00 1.40
 Return on Stockholders'
 Equity 21.20 15.82
 Average Stockholders'
 Equity to Assets 9.42 8.83
 Dollar Percent
 Quarter ended Sept. 30, 1993 1992 Change Change
 Net income $ 21,822 $ 20,804 $ 1,018 4.9
 Net Income Per
 Share $ 0.59 $ 0.55 $ 0.04 7.3
 Average Shares
 Outstanding 37,034 37,624
 As Of Sept. 30,
 Total Assets $4,320,557 $4,202,181 $ 118,376 2.8
 Total Deposits 3,273,873 3,286,249 (12,376) (0.4)
 Total Loans 2,909,953 2,986,882 (76,929) (2.6)
 Reserve For Loan
 Losses 47,870 46,207 1,663 3.6
 Net Loans 2,862,083 2,940,675 (78,592) (2.7)
 Investment Securities 1,048,008 790,136 257,872 32.6
 Short-Term Investments 34,248 102,922 (68,674) (66.7)
 Stockholders' Equity 399,442 369,164 30,278 8.2
 Book Value Per Share 10.83 9.88
 Total Risk-Based
 Capital Ratio 13.11 pct. 12.77 pct.
 Tier 1 Risk-Based
 Capital Ratio 11.86 11.33
 Tier 1 Leverage
 Capital Ratio 9.23 8.60
 /delval/
 -0- 10/21/93
 /CONTACT: Charles W. King of Wilmington Trust, 302-651-8069/
 (WILM)


CO: Wilmington Trust Company ST: Delaware IN: FIN SU: ERN DIV

JM -- PH029 -- 5243 10/21/93 12:48 EDT
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Date:Oct 21, 1993
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