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Wilmington Trust history
Wilmington Trust company history timeline
Wilmington Trust had cleared the way for this transaction in 1987, when it became the first bank outside of New York City approved by the New York Metals Exchange to store gold and silver bullion.
The bank flourished in the 1980s under Taylor's direction. It continued to expand its loan program and held loans of $2 billion--more than two-thirds of its commercial assets--by 1989.
In late 1990 Wilmington Trust bought the precious metal program of New York-based Citibank.
In 1992 Wilmington Trust bought the Sussex Trust Company, a $400 million-asset bank with 20 branches in the southern part of Delaware.
Wilmington Trust's mutual funds business stumbled in 1994, after taking some losses on risky investments.
The head of Wilmington's subsidiary Rodney Square Management Corp. resigned in 1995, and the bank reorganized the unit.
The firm acquired a 24 percent stake in a New York money management firm, Clemente Capital Inc., in April 1996.
What Bush and others didn't know in 2009 was that the bank was scrambling to avert a catastrophe following the burst of the real estate bubble, court records say.
By August 2010, Wilmington Trust had begun discussions with an unnamed financial institution about a potential capital investment.
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Wilmington Trust competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Legg Mason | 1899 | $2.9B | 3,059 | - |
| FNB | 1864 | $1.3B | 4,101 | 4 |
| Equitable Holdings | 1859 | $7.2B | 3,060 | 1 |
| M&T Bank | 1856 | $499.3M | 16,840 | 969 |
| Brandywine Realty Trust | 1994 | $486.8M | 337 | 10 |
| New York Life Insurance | 1845 | $44.1B | 11,388 | 603 |
| Prudential Retirement Insurance And Annuity Co | - | $57 | 41,671 | - |
| Commerce Bank | 1865 | $1.4B | 4,766 | 145 |
| Bernstein Private Wealth Management | 1967 | $4.1B | 3,750 | - |
| Signature Bank | 2001 | $3.8B | 1,652 | - |
Wilmington Trust history FAQs
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Wilmington Trust may also be known as or be related to Wilmington Trust, Wilmington Trust Company and Wilmington Trust Corporation.