The $10 billion, Delaware-based Wilmington Trust was acquired this week in a “take-under” by M&T bank. The take-under was announced the same day that Wilmington reported a massive unexpected loss due to souring construction loans. The regional banking sector continues to struggle with loan losses.
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Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.