Wintrust Financial Corp. Q2 2024: Assets Rise Slightly

TL;DR

WTFC Q2: Assets up slightly to $55.9B, loans $37.9B. Steady growth.

AI Summary

Wintrust Financial Corp. reported its financial results for the quarter ending June 30, 2024. The company's total assets stood at $55.9 billion as of June 30, 2024, a slight increase from $55.5 billion at the end of 2023. Loans and finance receivables were $37.9 billion, up from $37.1 billion at the close of 2023.

Why It Matters

This filing provides insight into the financial health and growth trajectory of Wintrust Financial Corp., a significant regional bank.

Risk Assessment

Risk Level: low — The filing indicates stable financial performance with modest asset and loan growth, suggesting low immediate risk.

Key Numbers

• $55.9B — Total Assets (As of June 30, 2024, showing a slight increase from year-end 2023.)
• $37.9B — Loans and Finance Receivables (As of June 30, 2024, indicating growth in the company's lending portfolio.)
• $55.5B — Total Assets (As of December 31, 2023, serving as a comparison point for Q2 2024.)
• $37.1B — Loans and Finance Receivables (As of December 31, 2023, showing the loan portfolio size at the start of the year.)

Key Players & Entities

• WINTRUST FINANCIAL CORP (company) — Filer
• 20240630 (date) — Reporting Period End Date
• $55.9 billion (dollar_amount) — Total Assets as of June 30, 2024
• $55.5 billion (dollar_amount) — Total Assets as of December 31, 2023
• $37.9 billion (dollar_amount) — Loans and Finance Receivables as of June 30, 2024
• $37.1 billion (dollar_amount) — Loans and Finance Receivables as of December 31, 2023

FAQ

Filing Documents

• wtfc-20240630.htm (10-Q) — 5759KB
• exhibit3112024q2.htm (EX-31.1) — 9KB
• exhibit3122024q2.htm (EX-31.2) — 9KB
• exhibit3212024q2.htm (EX-32.1) — 6KB
• 0001015328-24-000187.txt ( ) — 26072KB
• wtfc-20240630.xsd (EX-101.SCH) — 91KB
• wtfc-20240630_cal.xml (EX-101.CAL) — 198KB
• wtfc-20240630_def.xml (EX-101.DEF) — 653KB
• wtfc-20240630_lab.xml (EX-101.LAB) — 1238KB
• wtfc-20240630_pre.xml (EX-101.PRE) — 943KB
• wtfc-20240630_htm.xml (XML) — 6532KB

— 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 49

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 77

Controls and Procedures

ITEM 4. Controls and Procedures 79

— OTHER INFORMATION

PART II. — OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 79

Risk Factors

ITEM 1A. Risk Factors 80

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 80

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 80

Exhibits

ITEM 6. Exhibits 81

Signatures

Signatures 82 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) June 30, 2024 December 31, 2023 June 30, 2023 Assets Cash and due from banks $ 415,462 $ 423,404 $ 513,858 Federal funds sold and securities purchased under resale agreements 62 60 59 Interest-bearing deposits with banks 2,824,314 2,084,323 2,163,708 Available-for-sale securities, at fair value 4,329,957 3,502,915 3,492,481 Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $ 491 , $ 347 and $ 406 at June 30, 2024, December 31, 2023 and June 30, 2023, respectively ($ 3.1 billion, $ 3.2 billion and $ 2.9 billion fair value at June 30, 2024, December 31, 2023 and June 30, 2023, respectively) 3,755,924 3,856,916 3,564,473 Trading account securities 4,134 4,707 3,027 Equity securities with readily determinable fair value 112,173 139,268 116,275 Federal Home Loan Bank and Federal Reserve Bank stock 256,495 205,003 195,117 Brokerage customer receivables 13,682 10,592 15,722 Mortgage loans held-for-sale, at fair value 411,851 292,722 338,728 Loans, net of unearned income 44,675,531 42,131,831 41,023,408 Allowance for loan losses ( 363,719 ) ( 344,235 ) ( 302,499 ) Net loans 44,311,812 41,787,596 40,720,909 Premises, software and equipment, net 722,295 748,966 749,393 Lease investments, net 275,459 281,280 274,351 Accrued interest receivable and other assets 1,671,334 1,551,899 1,455,748 Trade date securities receivable — 690,722 — Goodwill 655,955 656,672 656,674 Other acquisition-related intangible assets 20,607 22,889 25,653 Total assets $ 59,781,516 $ 56,259,934 $ 54,286,176 Liabilities and Shareholders' Equity Deposits: Non-interest-bearing $ 10,031,440 $ 10,420,401 $ 10,604,915 Interest-bearing 38,017,586 34,976,769 33,433,792 Total deposits 48,049,026 45,397,170 44,038,707 Federal Home Loan Bank advances 3,176,30

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View this 10-Q filing on SEC EDGAR