Wilmington Trust
From Wikipedia, the free encyclopedia
| Wilmington Trust | |
|---|---|
 |
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| Type | Public (NYSE: WL) |
| Founded | 1903 |
| Headquarters | Wilmington, Delaware |
| Key people | Ted Thomas Cecala, CEO & Chairman |
| Industry | Financial |
| Products | Banking |
| Employees | 2,590 |
| Website | www.wilmingtontrust.com |
Wilmington Trust (NYSE: WL) was founded on July 8, 1903 as a banking, trust, and safe deposit company by DuPont president T. Coleman du Pont. He opened the business in the dining room and parlor of a former private residence at 915 Market Street in Wilmington, Delaware with a handful of investors and $500,000 in market capitalization.
In 1907 the company moved to the DuPont Building at Tenth & Market Streets and paid its first dividend (2.50% or $1.25 per share) on August 1, 1908. The company’s first merger occurred on July 15, 1912 with the acquisitions of the First National Bank and the National Bank of Wilmington & Brandywine, making it the largest bank on the East Coast. In 1971, it became one of the founding members of NASDAQ and moved its listing to the New York Stock Exchange in 1999.
In the third quarter of 2006, the company's net income was $5.2 million and its assets under management totalled $40.1 billion.
Currently, the corporate headquarters for Wilmington Trust is in Wilmington, Delaware.
In addition, it has domestic offices located in New York City, Los Angeles, Boston, Philadelphia, Las Vegas, Phoenix, Atlanta, Baltimore, Beverly Hills, Stamford (CT), Palm Beach, West Chester (PA), Villanova (PA) and Charleston (SC).
Internationally, Wilmington Trust has offices in the Cayman Islands, Channel Islands, Dublin, Frankfurt, London, Luxembourg and the Netherlands.
