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Wilmington Trust Beats Estimates Easily...

|Includes: Wilmington Trust Corporation (WL)

Wilmington Trust Corp. said it sharply reduced the amount of money set aside to cover bad loans, and wrote off fewer loans as unpaid.

The bank reported net income of 26 cents per common share on Friday.

The latest quarter's result was boosted by a net gain of $7.6 million in Wilmington Trust's investment portfolio. Not counting that gain and write-downs, Wilmington Trust's first-quarter profit was $17.4 million, or 19 cents per common share.