Wilmington trust down $19.5M in 2Q

Wilmington (Del.) Trust Corp. reported a second-quarter loss of $19.5 million, or 29 cents per share, on impairment charges and a securities loss. That compares with earnings of $48.9 million, or 70 cents per share, in the year-earlier period. The loss was attributed to an impairment charge of $43.5 million related to a decline in the value of its investment in affiliate money manager Roxbury Capital Management LLC of Santa Monica, Calif., and a securities loss of $12.6 million. Excluding the losses, Wilmington Trust posted adjusted income of 47 cents per share. Wealth advisory services fees for the second quarter increased 8% to $57.8 million, from the year-ago period. Wilmington's assets under management increased to $37.5 billion, marking a 13% increase, from the second quarter of 2007.