Commercial Loan Balances Rise at Wilmington Trust

Commercial loan balances for Wilmington Trust Corp. were $6.69 billion on average during the third quarter of 2009. Within the Wilmington, Del.-based wealth management firm's commercial portfolio, commercial mortgage balances rose on a trailing quarter and year-over-year basis. According to the company's earnings report, commercial construction balances were slightly higher than for the year-ago third quarter, but lower than for the trailing quarter. Balances of other types of commercial, financial and agricultural loans were lower than for the trailing quarter and the year-ago third quarter. According to Wilmington Trust, the increase in commercial mortgage balances reflected changes in the credit markets that have minimized the competitive advantages formerly held by specialty commercial mortgage lenders. Wilmington Trust extends commercial mortgage loans to middle-market business owners within the mid-Atlantic region. More than half of commercial mortgage loans at Sept. 30, 2009, were for owner-occupied properties. According to the company, 18% were for community shopping centers. The rest were for a variety of other types of commercial and industrial properties. More than half — 57% — of Wilmington Trust's commercial mortgage loans were for properties in Delaware, with the majority in the state's northern-most county.