Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Delaware trust bank Wilmington Trust
So what: Just last week I had my eye on Wilmington as investors considered the potential for a buyout. At that point I said, "true-blue investors had better make sure there's something other than a train at the other end of Wilmington's current tunnel." Looking at Wilmington's third-quarter results -- which were also released today -- it appears that it was, in fact, a train coming right at investors. The bank's total nonperforming assets jumped 77% since last quarter, and loan-loss provisions were boosted 37%.
Now what: It's been reported that the sale process for Wilmington included other potential acquirers and investors, including Bank of Montreal
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