Wilmington Trust is one of the top 10 largest American institutions by fiduciary assets.[1] Wilmington Trust is currently a provider of international corporate and institutional services, investment management, and private banking. The firm was founded on July 8, 1903, as a banking, trust, and safe deposit company by DuPont president T. Coleman du Pont. In 2010, it became a subsidiary of M&T Bank.
History
Wilmington Trust was founded on July 8, 1903, by T. Coleman du Pont, then the president of DuPont, to manage the growing fortune of the duPont family.[2] DuPont 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. It paid its first dividend (2.5%, $1.25 per share) on August 1, 1908. The company’s first merger occurred on July 15, 1912: the acquisitions of the First National Bank and the National Bank of Wilmington and Brandywine