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Wintrust(WTFC) - 2025 Q2 - Earnings Call Transcript
2025-07-22 16:02
Wintrust Financial (WTFC) Q2 2025 Earnings Call July 22, 2025 11:00 AM ET Company ParticipantsTimothy Crane - President, CEO & DirectorDavid Stoehr - EVP & CFORichard Murphy - Vice Chairman & Chief Lending OfficerJon Arfstrom - MD & Associate Director - US ResearchChristopher Mcgratty - MD & Head - U.S. Bank ResearchDavid Long - Managing DirectorTerry Mcevoy - Managing DirectorBen Gerlinger - VP - Equity ResearchJared Shaw - Managing DirectorBrendan Nosal - DirectorNicholas Holowko - DirectorConference Call ...
Wintrust(WTFC) - 2025 Q2 - Earnings Call Transcript
2025-07-22 16:00
Financial Data and Key Metrics Changes - The company reported record quarterly net income of $195.5 million, up from $189 million in the previous quarter, representing a growth of approximately 2.6% [5] - Net interest income also reached a record high of $547 million, driven by loan growth of $2.3 billion in the second quarter, which reflects a 19% annualized increase [5][10] - Total assets grew by $3.1 billion to $69 billion, including the impact of a $425 million preferred stock offering [11] Business Line Data and Key Metrics Changes - Residential mortgage activity increased slightly but remains muted in the current rate environment, with the company managing expenses to protect financial results [7] - The property and casualty premium finance group saw growth of over $1 billion, while commercial real estate grew by $377 million and mortgage warehouse grew by $213 million [19][20] - Non-interest income totaled $124.1 million, up approximately $7.5 million from the prior quarter, with increases in mortgage banking and wealth management revenue [13] Market Data and Key Metrics Changes - The company experienced a 17% increase in deposit growth, amounting to $2.2 billion on an annualized basis, which helped fund the strong loan growth [9] - The net interest margin for the quarter remained stable at 3.54%, indicating effective management of interest income and expenses [6][12] Company Strategy and Development Direction - The company aims for continued mid to high single-digit loan growth for the second half of the year, supported by strong pipelines and disciplined growth strategies [5][21] - Management emphasized a client-first approach, focusing on delivering sophisticated financial solutions while maintaining expense discipline [26] - The company is cautiously optimistic about the overall business environment, with a focus on maintaining strong credit quality and managing risks effectively [22] Management's Comments on Operating Environment and Future Outlook - Management noted that credit quality remains strong, with non-performing loans stable and charge-offs unchanged from the previous quarter [22][23] - There is a belief that the impacts of economic uncertainties will be limited due to strong underwriting standards and a diversified portfolio [21] - The company is optimistic about the potential for M&A activity, driven by market dynamics and opportunities arising from regulatory changes [51][92] Other Important Information - The company continues to build tangible book value per share and has grown it every year since going public [15] - The recent preferred stock issuance will impact earnings per share calculations in the third quarter, but not operating net income [16][17] Q&A Session Summary Question: Loan growth expectations for Q3 - Management expects loan growth to remain in the mid to high single digits based on the June 30 balance [33][34] Question: Sources of deposit growth - Deposit growth is broad-based, with significant contributions from commercial and consumer households [36] Question: Wealth management outsourcing progress - The conversion to the LPL platform is largely complete, and the focus is now on serving clients and growing the wealth business [37] Question: NII growth sustainability amid deposit competition - Management anticipates mid to high single-digit NII growth, supported by stable margins and asset growth [43][46] Question: Impact of deregulation on the company - Management is hopeful for regulatory adjustments that could facilitate growth and acquisition opportunities [51] Question: Borrower sentiment and loan growth - Borrower sentiment is cautiously optimistic, with improved confidence in the economic environment [111] Question: Non-performing loans in the CRE portfolio - The increase in non-performing loans is attributed to a few specific credits, but overall management remains confident in the portfolio's health [96]
Wintrust(WTFC) - 2025 Q2 - Earnings Call Presentation
2025-07-22 15:00
Financial Performance Highlights - Net income for the first six months of 2025 reached a record of $384.6 million, an increase of $44.9 million or 13% compared to the same period in 2024[10] - Diluted earnings per share (EPS) for the first six months of 2025 were $5.47, up $0.26 or 5% from the same period in 2024[10] - Net interest income for the first six months of 2025 was $1.1 billion, an increase of $138.4 million or 15% compared to the same period in 2024[10] - Total assets reached $69.0 billion, an increase of $9.2 billion or 15% compared to June 2024[10, 16] - Total loans amounted to $51.0 billion, an increase of $6.3 billion or 14% compared to June 2024[10, 16] - Total deposits increased to $55.8 billion, an increase of $7.8 billion or 16% compared to June 2024[10, 16] Balance Sheet and Capital - Tangible book value per common share (non-GAAP) increased to $81.86 as of June 30, 2025[10, 14] - The investment portfolio totaled $8.7 billion as of June 30, 2025, representing 13% of total assets[41] Credit Quality - Non-performing loans totaled $189 million, comprising 0.37% of total loans as of June 30, 2025[16]
Wintrust (WTFC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
ZACKS· 2025-07-21 23:30
Core Insights - Wintrust Financial (WTFC) reported a revenue of $670.78 million for the quarter ended June 2025, reflecting a year-over-year increase of 13.4% [1] - The earnings per share (EPS) for the same quarter was $2.78, up from $2.32 in the previous year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $655.9 million, resulting in a surprise of +2.27% [1] - The company also delivered an EPS surprise of +7.34%, with the consensus EPS estimate being $2.59 [1] Key Metrics - Efficiency Ratio stood at 56.9%, slightly better than the five-analyst average estimate of 57.1% [4] - Net Interest Margin was reported at 3.5%, matching the five-analyst average estimate [4] - Average balance of Total earning assets was $62.22 billion, surpassing the $61.33 billion average estimate from three analysts [4] - Net charge-offs to average loan ratio was 0.1%, better than the three-analyst average estimate of 0.2% [4] - Tier 1 leverage ratio was 10.2%, exceeding the 9.6% average estimate based on two analysts [4] - Total Non-Interest Income reached $124.09 million, compared to the $117.8 million estimated by five analysts [4] - Net interest income - FTE was $549.57 million, above the four-analyst average estimate of $542.14 million [4] - Net Interest Income was reported at $546.69 million, exceeding the four-analyst average estimate of $536.91 million [4] - Wealth management income was $36.82 million, higher than the three-analyst average estimate of $34.83 million [4] - Fees from covered call options amounted to $5.62 million, significantly above the $2.33 million average estimate from three analysts [4] - Mortgage banking income was $23.17 million, slightly below the three-analyst average estimate of $25.59 million [4] - Operating lease income, net was reported at $15.17 million, matching the three-analyst average estimate [4] Stock Performance - Wintrust shares have returned +11.4% over the past month, outperforming the Zacks S&P 500 composite's +5.4% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]
Wintrust(WTFC) - 2025 Q2 - Quarterly Results
2025-07-21 20:45
Exhibit 99.1 Wintrust Financial Corporation 9700 W. Higgins Road, Suite 800, Rosemont, Illinois 60018 News Release FOR IMMEDIATE RELEASE July 21, 2025 FOR MORE INFORMATION CONTACT: David A. Dykstra, Vice Chairman & Chief Operating Officer (847) 939-9000 Amy Yuhn, Executive Vice President, Communications (847) 939-9591 Web site address: www.wintrust.com Additionally, Mr. Crane noted, "Net interest margin in the second quarter remained within our expected range at 3.54% and we generated record net interest in ...
Wintrust Financial Corporation Reports Record Net Income
Globenewswire· 2025-07-21 20:35
ROSEMONT, Ill., July 21, 2025 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced record net income of $384.6 million, or $5.47 per diluted common share, for the first six months of 2025, compared to net income of $339.7 million, or $5.21 per diluted common share for the same period of 2024. Pre-tax, pre-provision income (non-GAAP) for the first six months of the year totaled a record $566.3 million, compared to $523.0 million for the first ...
WTFCN: A 7.875% Fixed-To-Reset Preferred Share IPO From Wintrust Financial
Seeking Alpha· 2025-07-07 08:15
Group 1 - The article discusses the recent IPO of Wintrust Financial Corporation's 7.875% Depositary Shares Fixed-to-Reset [1] - It invites active investors to join a free trial and engage in discussions with sophisticated traders and investors [1] Group 2 - The article emphasizes that past performance is not indicative of future results and does not provide specific investment recommendations [2] - It clarifies that the analysts involved may not be licensed or certified by any regulatory body [2]
Wintrust Financial Corporation Announces Second Quarter and Year-to-Date 2025 Earnings Release Schedule
Globenewswire· 2025-06-20 20:05
Core Viewpoint - Wintrust Financial Corporation will release its second quarter and year-to-date 2025 earnings results on July 21, 2025, and will host a conference call on July 22, 2025, at 10:00 a.m. CDT [1] Company Overview - Wintrust is a financial holding company with approximately $66 billion in assets, traded on the NASDAQ Global Select Market [4] - The company operates over 200 retail banking locations through 16 community bank subsidiaries in various regions including greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida [4] - Wintrust provides a range of services including residential mortgage origination, wealth management, commercial and life insurance premium financing, and qualified intermediary services for tax-deferred exchanges [4] Conference Call Details - Individuals interested in participating in the conference call can register to receive a dial-in number and unique PIN, with a recommendation to join 10 minutes prior to the event [2] - An audio-only webcast and accompanying slide presentation will be available on the company's website [3]
Wintrust Financial Corporation Announces Redemption of All Outstanding Series D and Series E Preferred Stock and Related Depositary Shares
Globenewswire· 2025-06-13 20:05
Core Points - Wintrust Financial Corporation will redeem all shares of its Series D and Series E Preferred Stock on July 15, 2025, at a price of $25.00 per share for Series D and $25,000 per share for Series E [1][2] - The redemptions will be funded by net proceeds from a public offering of Series F Preferred Stock completed on May 22, 2025 [1] - Regular quarterly dividends will be paid on the Redemption Date to holders of record as of July 1, 2025, but the redemption price will not include any accrued and unpaid dividends [3] Company Overview - Wintrust is a financial holding company listed on the NASDAQ Global Select Market, operating over 200 retail banking locations through 16 community bank subsidiaries across several states [5] - The company provides a range of services including residential mortgage origination, wealth management, and commercial financing [5]
Wintrust Financial Corporation Announces Pricing of $425 Million Preferred Stock Offering
Globenewswire· 2025-05-09 00:55
Core Viewpoint - Wintrust Financial Corporation has announced a public offering of 17 million depositary shares, aiming for gross proceeds of $425 million, with each share representing a 1/1,000th interest in its preferred stock [1][2]. Group 1: Offering Details - The offering consists of 17 million depositary shares priced at $25.00 each, totaling gross proceeds of $425 million before expenses [1]. - Each depositary share represents a 1/1,000th interest in Wintrust's 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F [1]. - The expected closing date for the offering is May 22, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - Wintrust plans to use the net proceeds for general corporate purposes, which may include redeeming outstanding shares of Series D and Series E preferred stock, subject to Federal Reserve approval [2]. Group 3: Listing and Management - Wintrust intends to list the depositary shares on The Nasdaq Global Select Market under the symbol "WTFCN" [2]. - RBC Capital Markets is the sole book-running manager, with Keefe, Bruyette & Woods, Piper Sandler, and US Bancorp acting as co-managers for the offering [2]. Group 4: Company Overview - Wintrust is a financial holding company with over 200 retail banking locations across several states, providing a range of banking and non-banking services [5]. - The company operates under a philosophy of offering large bank resources while maintaining a community banking experience [5].