Wintrust Financial Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Wintrust Financial Corp. has submitted its Q1 2024 10-Q filing, detailing financial positions as of March 31, 2024.</b>

AI Summary

WINTRUST FINANCIAL CORP (WTFCN) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Wintrust Financial Corp. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key dates referenced include March 31, 2024, December 31, 2023, and March 31, 2023. The company is incorporated in Illinois (IL). The filing includes data related to common stock, preferred stock (Series D and E), and depositary shares.

Why It Matters

For investors and stakeholders tracking WINTRUST FINANCIAL CORP, this filing contains several important signals. This 10-Q filing provides the latest quarterly financial snapshot for Wintrust Financial Corp., crucial for investors and analysts to assess performance and financial health. The detailed information on stock types and balance sheet dates allows for trend analysis and comparison with previous periods.

Risk Assessment

Risk Level: medium — WINTRUST FINANCIAL CORP shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) for a publicly traded financial institution, which inherently carries market and regulatory risks common to the banking sector.

Analyst Insight

Monitor Wintrust Financial Corp.'s upcoming earnings reports and investor calls for insights into their strategic responses to current economic conditions and regulatory changes.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-12-31 — Previous Year End Date (Balance Sheet Date)
• 2023-03-31 — Prior Year Quarter End Date (Balance Sheet Date)

Key Players & Entities

• WINTRUST FINANCIAL CORP (company) — FILER
• 0001015328 (company) — CENTRAL INDEX KEY
• IL (company) — STATE OF INCORPORATION
• 6022 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• 363873352 (company) — IRS NUMBER
• 9700 WEST HIGGINS ROAD, 8TH FLOOR (company) — BUSINESS ADDRESS
• ROSEMONT (company) — CITY
• 8479399000 (company) — BUSINESS PHONE

FAQ

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Filing Documents

• wtfc-20240331.htm (10-Q) — 4580KB
• exhibit101employmentagreem.htm (EX-10.1) — 97KB
• exhibit3112024q1.htm (EX-31.1) — 9KB
• exhibit3122024q1.htm (EX-31.2) — 9KB
• exhibit3212024q1.htm (EX-32.1) — 6KB
• 0001015328-24-000143.txt (&nbsp;) — 22769KB
• wtfc-20240331.xsd (EX-101.SCH) — 91KB
• wtfc-20240331_cal.xml (EX-101.CAL) — 199KB
• wtfc-20240331_def.xml (EX-101.DEF) — 660KB
• wtfc-20240331_lab.xml (EX-101.LAB) — 1207KB
• wtfc-20240331_pre.xml (EX-101.PRE) — 937KB
• wtfc-20240331_htm.xml (XML) — 5449KB

— FINANCIAL INFORMATION

PART I. — FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 45

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 69

Controls and Procedures

ITEM 4. Controls and Procedures 70

— OTHER INFORMATION

PART II. — OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 70

Risk Factors

ITEM 1A. Risk Factors 71

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

ITEM 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 71

Defaults Upon Senior Securities NA

ITEM 3. Defaults Upon Senior Securities NA

Mine Safety Disclosures NA

ITEM 4. Mine Safety Disclosures NA

Other Information

ITEM 5. Other Information 72

Exhibits

ITEM 6. Exhibits 72

Signatures

Signatures 73 Table of Contents PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CONDITION (Unaudited) (Unaudited) (Dollars in thousands, except per share data) March 31, 2024 December 31, 2023 March 31, 2023 Assets Cash and due from banks $ 379,825 $ 423,404 $ 445,928 Federal funds sold and securities purchased under resale agreements 61 60 58 Interest-bearing deposits with banks 2,131,077 2,084,323 1,563,578 Available-for-sale securities, at fair value 4,387,598 3,502,915 3,259,845 Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $ 329 , $ 347 and $ 463 at March 31, 2024, December 31, 2023 and March 31, 2023, respectively ($ 3.1 billion, $ 3.2 billion and $ 3.0 billion fair value at March 31, 2024, December 31, 2023 and March 31, 2023, respectively) 3,810,015 3,856,916 3,606,391 Trading account securities 2,184 4,707 102 Equity securities with readily determinable fair value 119,777 139,268 111,943 Federal Home Loan Bank and Federal Reserve Bank stock 224,657 205,003 244,957 Brokerage customer receivables 13,382 10,592 16,042 Mortgage loans held-for-sale, at fair value 339,884 292,722 302,493 Loans, net of unearned income 43,230,706 42,131,831 39,565,471 Allowance for loan losses ( 348,612 ) ( 344,235 ) ( 287,972 ) Net loans 42,882,094 41,787,596 39,277,499 Premises, software and equipment, net 744,769 748,966 760,283 Lease investments, net 283,557 281,280 256,301 Accrued interest receivable and other assets 1,580,142 1,551,899 1,413,795 Trade date securities receivable — 690,722 939,758 Goodwill 656,181 656,672 653,587 Other acquisition-related intangible assets 21,730 22,889 20,951 Total assets $ 57,576,933 $ 56,259,934 $ 52,873,511 Liabilities and Shareholders' Equity Deposits: Non-interest-bearing $ 9,908,183 $ 10,420,401 $ 11,236,083 Interest-bearing 36,540,675 34,976,769 31,482,128 Total deposits 46,448,858 45,397,170 42,718,211 Federal Home Loan Bank advances

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View this 10-Q filing on SEC EDGAR