Financial Data and Key Metrics Changes - Wintrust reported a record net income of $216 million for Q3 2025, up from over $195 million in the previous quarter, representing an increase of almost 11% quarter over quarter [4] - Net interest income increased by $20 million from the second quarter to $567 million, driven by solid loan and overall balance sheet growth [5] - Total loans reached $52 billion at quarter end, reflecting an 11% year-to-date increase on an annualized basis [5] - Total deposits were nearly $57 billion at the end of Q3, with deposit growth of just under $900 million [5][9] - Net interest margin was 3.50% for the quarter, slightly down from the prior quarter but within the targeted range [6] Business Line Data and Key Metrics Changes - Loan growth for the quarter was broad-based, with commercial real estate loans growing by $327 million and Wintrust Life Finance growing by $252 million [14] - Non-interest income totaled $130.8 million in Q3, up approximately $6.7 million compared to the prior quarter, supported by higher wealth management and mortgage revenue [11] - Non-interest expenses totaled $380 million, a slight decline from $381.5 million in the previous quarter, indicating well-controlled expenses [11] Market Data and Key Metrics Changes - Wintrust achieved deposit share gains in key markets, ranking third in deposit market share in Illinois, up one position [7] - The company continues to see strong growth in its franchises in Wisconsin and West Michigan, with significant upside potential [7] Company Strategy and Development Direction - The company remains focused on core deposit growth as a key tenet of its franchise, emphasizing a relationship-based approach in its core Midwestern markets [7][19] - Wintrust aims to continue generating loan and deposit growth in the mid to high single-digit range while maintaining a stable net interest margin [18] - The management is committed to disciplined underwriting and is cautious about taking risks that do not meet their standards [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of net interest margin despite potential rate cuts by the Fed, citing a balanced approach to managing deposit costs [32][68] - The overall credit environment remains stable, with proactive measures in place to address any challenges [17] - Management noted a sense of measured optimism among customers as they approach year-end, indicating strong portfolio performance [17] Other Important Information - The company has consistently grown tangible book value per share every year since going public and is on track to do so again in 2025 [12] - A one-time impact from preferred stock redemption reduced fully diluted net income per common share by $0.28 in Q3, but the adjusted figure would have been $3.06 without this impact [13] Q&A Session Summary Question: Can you talk about loan growth drivers and pipelines? - Management noted a unique market positioning in Chicago, gaining market share from larger banks, with stable pipelines for C&I and CRE loans [25][29] Question: How do you feel about holding the margin in the current range with potential Fed rate cuts? - Management expressed confidence in maintaining the margin around $350, citing effective management of deposit costs and a balanced loan portfolio [32][33] Question: What is the strategy for commercial loan growth? - Management indicated that the decline in commercial loan growth was more about timing than market competition, with consistent opportunities in the pipeline [37] Question: Are there any segments or industries where you are pulling back on lending? - Management stated they are closely monitoring higher education and healthcare sectors but are not pulling back from lending in general [94] Question: How do you view the competitive landscape among banks? - Management noted that the competitive environment remains rational, with no significant changes among larger and smaller banks [110]

Wintrust Financial (NasdaqGS:WTFC) Q3 2025 Earnings Call October 21, 2025 11:00 AM ET Speaker0Welcome to WinTrust Financial Corporation's Third Quarter and Year to date twenty twenty five Earnings Conference Call. A review of the results will be made by Tim Crane, President and Chief Executive Officer David Dykstra, Vice Chairman and Chief Operating Officer and Richard Murphy, Vice Chairman and Chief Lending Officer. As part of their reviews, the presenters may make reference to both the earnings press rele ...

Wintrust Financial (NasdaqGS:WTFC) Q3 2025 Earnings Call October 21, 2025 11:00 AM ET Speaker3Welcome to Wintrust Financial Corporation's third quarter end-year-to-date 2025 earnings conference call. A review of the results will be made by Tim Crane, President and Chief Executive Officer, David Dykstra, Vice Chairman and Chief Operating Officer, and Richard Murphy, Vice Chairman and Chief Lending Officer. As part of their reviews, the presenters may make reference to both the earnings press release and the ...

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...

Financial Performance Highlights - Net income for the first nine months of 2025 reached a record of $6008 million, an increase of $911 million or 18% compared to the same period in 2024[10, 13, 14] - Diluted EPS for the first nine months of 2025 was $825, up $058 or 8% from the same period in 2024[10, 13, 14] - Net interest income for the first nine months of 2025 reached a record $16 billion, an increase of $2028 million or 14% compared to the same period in 2024[10, 13, 14] - Pre-tax, pre-provision income for the first nine months of 2025 was $8841 million, an increase of $1061 million or 14% compared to the same period in 2024[10, 13] - Total assets reached $696 billion, an increase of $58 billion or 9%[10, 13] - Total loans increased by $50 billion or 11% to $521 billion[10, 13, 14] - Total deposits increased by $53 billion or 10% to $567 billion[10, 13] Balance Sheet and Capital Strength - Tangible book value per common share (non-GAAP) increased to $8539 as of September 30, 2025[10, 13, 14, 43] - The company's capital levels are well in excess of regulatory thresholds[36, 39] - Investment portfolio at 13% of total assets as of September 30, 2025[39] Loan and Deposit Portfolio - Total loans increased by approximately $10 billion in Q3 2025, or 8% annualized[16, 31] - Total deposits increased by approximately $8946 million in Q3 2025, or 6% annualized[16, 35]

Core Insights - Wintrust Financial reported a revenue of $697.84 million for the quarter ended September 2025, marking a 13.3% increase year-over-year [1] - The earnings per share (EPS) for the quarter was $3.06, up from $2.47 in the same quarter last year, exceeding the consensus estimate of $2.63 by 16.35% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $681.43 million, resulting in a revenue surprise of 2.41% [1] Financial Metrics - Efficiency Ratio stood at 54.7%, better than the four-analyst average estimate of 56.3% [4] - Net Interest Margin was reported at 3.5%, matching the average estimate from four analysts [4] - Total earning assets averaged $64.64 billion, exceeding the $63.5 billion estimate based on two analysts [4] - Tier 1 leverage ratio was 9.5%, slightly below the 9.6% average estimate from two analysts [4] - Net charge-offs to average loan ratio was 0.2%, aligning with the two-analyst average estimate [4] - Total Non-Interest Income reached $130.83 million, surpassing the $122.13 million average estimate from four analysts [4] - Net interest income (FTE) was reported at $569.84 million, exceeding the three-analyst average estimate of $563.57 million [4] - Net Interest Income was $567.01 million, above the $558.27 million estimate from three analysts [4] - Service charges on deposit accounts totaled $19.83 million, slightly below the $19.9 million average estimate from two analysts [4] - Wealth management income was $37.19 million, marginally above the $37.1 million average estimate from two analysts [4] - Mortgage banking income was $24.45 million, below the two-analyst average estimate of $26.41 million [4] - Operating lease income, net, was reported at $15.47 million, exceeding the two-analyst average estimate of $15.2 million [4] Stock Performance - Wintrust shares have returned -9.1% over the past month, contrasting with the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - Wintrust Financial (WTFC) reported quarterly earnings of $3.06 per share, exceeding the Zacks Consensus Estimate of $2.63 per share, and up from $2.47 per share a year ago, representing an earnings surprise of +16.35% [1] - The company achieved revenues of $697.84 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.41% and increasing from $615.73 million year-over-year [2] - Wintrust has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.82 on revenues of $689.33 million, while for the current fiscal year, the estimate is $11.03 on revenues of $2.68 billion [7] - The company's earnings outlook is crucial for understanding future stock performance, especially in light of recent earnings report results [4] Market Performance - Wintrust shares have declined approximately 1.6% since the beginning of the year, contrasting with the S&P 500's gain of 13.3% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Industry Context - The Banks - Midwest industry, to which Wintrust belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Executive Summary & Highlights This section provides a high-level overview of Wintrust Financial Corporation's record financial performance for the first nine months and third quarter of 2025, highlighting key growth drivers and management commentary [Financial Performance Overview (9M & Q3 2025)](index=1&type=section&id=Financial%20Performance%20Overview%20(9M%20%26%20Q3%202025)) Wintrust Financial Corporation reported record net income for both the first nine months and the third quarter of 2025, driven by strong balance sheet growth and prudent net interest margin management | Metric | 9 Months Ended Sep 30, 2025 | 9 Months Ended Sep 30, 2024 | Change (YoY) | | :-------------------------------- | :--------------------------- | :--------------------------- | :----------- | | Net Income | $600.8 million | $509.7 million | +17.9% | | Diluted EPS | $8.25 | $7.67 | +7.6% | | Pre-tax, Pre-provision Income (non-GAAP) | $884.1 million | $778.1 million | +13.6% | | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------------------- | :------- | :------- | :----------- | | Net Income | $216.3 million | $195.5 million | +10.6% | | Diluted EPS | $2.78 | $2.78 | 0% | | Pre-tax, Pre-provision Income (non-GAAP) | $317.8 million | $289.3 million | +9.8% | - CEO Timothy S. Crane highlighted continued momentum with record net income, net interest income, strong balance sheet growth, and prudent net interest margin management[4](index=4&type=chunk) [Key Q3 2025 Highlights](index=1&type=section&id=Key%20Q3%202025%20Highlights) The third quarter of 2025 saw significant growth in loans, deposits, and total assets, alongside an increase in net interest income | Metric | Q3 2025 vs Q2 2025 Change | | :-------------------- | :------------------------ | | Total Loans | +$1.0 billion (8% annualized) | | Total Deposits | +$894.6 million (6% annualized) | | Total Assets | +$646.3 million (4% annualized) | | Net Interest Income | +$20.3 million (to $567.0 million) | | Net Interest Margin (FTE, non-GAAP) | 3.50% (within guidance) | | Net Gains on Investment Securities | $3.0 million (vs $650,000 in Q2 2025) | - Earnings per diluted common share of **$2.78** in Q3 2025 were impacted by one-time recognition of prior issuance costs related to Preferred Stock Series D and E (**$14.0 million**, or **$0.21** per diluted common share) and excess dividend for Preferred Stock Series F (**$4.9 million**, or **$0.07** per diluted common share)[5](index=5&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management expressed satisfaction with diversified loan and strong deposit growth, maintaining conservative credit standards, and improving credit quality metrics - Strong loan growth of **$1.0 billion** (8% annualized) was diversified across all major loan portfolios, with pipelines remaining strong and mid-to-high single-digit growth expected for the remainder of the year[6](index=6&type=chunk) - Deposit growth of **$894.6 million** (6% annualized) funded loan growth, resulting in a loans-to-deposits ratio of **91.8%** at quarter-end[6](index=6&type=chunk) - Disciplined credit management led to consistent positive outcomes, with appropriate reserves and low levels of net charge-offs and non-performing loans, and a core loan allowance for credit losses of **1.34%**[6](index=6&type=chunk) [Preferred Stock Impact](index=6&type=section&id=Preferred%20Stock%20Impact) The Company completed the issuance of Series F Preferred Stock in May 2025, anticipating the redemption of Series D and E Preferred Stock, which occurred in July 2025 - On May 22, 2025, Wintrust issued **$425 million** of Series F Preferred Stock[13](index=13&type=chunk) - The issuance was in contemplation of redeeming **$412.5 million** of Series D and Series E Preferred Stock, which were expected to reprice at higher rates[13](index=13&type=chunk) - Series D and Series E Preferred Stock were redeemed on July 15, 2025[13](index=13&type=chunk) Summary of Financial Results This section provides a detailed overview of Wintrust's financial performance, including balance sheet, net interest income, asset quality, non-interest income, non-interest expense, and income taxes [Balance Sheet Overview](index=9&type=section&id=Balance%20Sheet%20Overview) Wintrust's balance sheet showed growth in total assets, loans, and deposits in Q3 2025, with a stable loans-to-deposits ratio | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------- | :------- | :------- | :----------- | | Total Assets | $69.6 billion | $69.0 billion | +$646.3 million | | Total Loans | $52.1 billion | $51.0 billion | +$1.0 billion | | Total Liabilities | $62.6 billion | $61.7 billion | +$826.3 million | | Total Deposits | $56.7 billion | $55.8 billion | +$894.6 million | | Loans-to-Deposits Ratio | 91.8% | N/A | Stable | - The increase in loans was driven by growth across all major loan portfolios[16](index=16&type=chunk) - Strong organic deposit growth was driven by diverse deposit product offerings, with non-interest bearing deposit balances remaining stable[17](index=17&type=chunk) [Net Interest Income & Margin](index=9&type=section&id=Net%20Interest%20Income%20%26%20Margin) Net interest income increased in Q3 2025 due to earning asset growth, while net interest margin saw a slight decline primarily from decreased loan yields | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------- | :------- | :------- | :----------- | | Net Interest Income | $567.0 million | $546.7 million | +$20.3 million | | Net Interest Margin (GAAP) | 3.48% | 3.52% | -4 bps | | Net Interest Margin (FTE, non-GAAP) | 3.50% | 3.54% | -4 bps | | Yield on Earning Assets | -3 bps | N/A | N/A | | Loan Yields | -4 bps | N/A | N/A | | Funding Cost on Interest-Bearing Deposits | +1 bp | N/A | N/A | - The increase in net interest income was primarily due to average earning asset growth of **$2.4 billion**, or **15% annualized**[19](index=19&type=chunk) [Asset Quality](index=9&type=section&id=Asset%20Quality) Asset quality remained stable in Q3 2025, with a slight decrease in the allowance for credit losses and an improved macroeconomic forecast | Metric | Sep 30, 2025 | Jun 30, 2025 | Change (QoQ) | | :-------------------------------- | :------------ | :------------ | :----------- | | Allowance for Credit Losses | $454.6 million | $457.5 million | -$2.9 million | | Provision for Credit Losses (Q3) | $21.8 million | $22.2 million | -$0.4 million | | Net Charge-offs (Q3) | $24.6 million | $13.3 million | +$11.3 million | | Net Charge-offs (% of avg. total loans, annualized) | 19 bps | 11 bps | +8 bps | | Non-Performing Assets | $187.5 million | $212.5 million | -$25.0 million | | Non-Performing Assets (% of total assets) | 0.27% | 0.31% | -0.04% | | Non-Performing Loans | $162.6 million | $188.8 million | -$26.2 million | | Non-Performing Loans (% of total loans) | 0.31% | 0.37% | -0.06% | - The provision for credit losses reflects stable credit quality and an improved macroeconomic forecast, with qualitative additions made due to future economic uncertainty[22](index=22&type=chunk) - Management believes the allowance for credit losses is appropriate to account for expected credit losses[23](index=23&type=chunk) [Non-Interest Income](index=11&type=section&id=Non-Interest%20Income) Total non-interest income increased in Q3 2025, primarily driven by growth in wealth management revenue, mortgage banking revenue, and net gains on investment securities | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------------------- | :------- | :------- | :----------- | | Total Non-Interest Income | $130.8 million | $124.1 million | +$6.7 million | | Wealth Management Revenue | +$367,000 | N/A | N/A | | Mortgage Banking Revenue | $24.5 million | $23.2 million | +$1.3 million | | Net Gains on Investment Securities | $3.0 million | $650,000 | +$2.35 million | - Wealth management revenue increase was driven by higher asset valuations and increased brokerage transactional business[28](index=28&type=chunk) - Mortgage banking revenue increase was primarily attributed to higher production revenue[29](index=29&type=chunk) [Non-Interest Expense](index=11&type=section&id=Non-Interest%20Expense) Non-interest expense slightly decreased in Q3 2025, with notable reductions in professional fees and acquisition-related costs | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------- | :------- | :------- | :----------- | | Total Non-Interest Expense | $380.0 million | $381.5 million | -$1.5 million | | Non-Interest Expense (% of avg. assets) | 2.21% | N/A | Decreased | | Professional Fees Expense | $7.5 million | $9.2 million | -$1.8 million | | Macatawa Bank Acquisition-Related Costs | $471,000 | $2.9 million | -$2.4 million | - The decrease in professional fees primarily relates to lower consulting services[33](index=33&type=chunk) [Income Taxes](index=11&type=section&id=Income%20Taxes) Income tax expense and the effective tax rate increased slightly in Q3 2025 compared to the previous quarter | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------- | :------- | :------- | :----------- | | Income Tax Expense | $79.8 million | $71.6 million | +$8.2 million | | Effective Tax Rate | 27.0% | 26.8% | +0.2% | Business Segment Review This section reviews the performance of Wintrust's key business segments: Community Banking, Specialty Finance, and Wealth Management, highlighting their contributions to overall growth [Community Banking](index=11&type=section&id=Community%20Banking) The Community Banking segment expanded its loan portfolios and saw increases in mortgage banking revenue and service charges on deposit accounts, with strong commercial and commercial real estate loan pipelines - Community banking increased its commercial, commercial real estate, and residential real estate loan portfolios in Q3 2025[37](index=37&type=chunk) | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------------------- | :------- | :------- | :----------- | | Mortgage Banking Revenue | $24.5 million | $23.2 million | +$1.3 million | | Service Charges on Deposit Accounts | $19.8 million | $19.5 million | +$0.3 million | - Gross commercial and commercial real estate loan pipelines remained solid, indicating expected continued loan growth in Q4 2025[38](index=38&type=chunk) [Specialty Finance](index=12&type=section&id=Specialty%20Finance) The Specialty Finance segment reported strong originations in insurance premium financing and increased portfolio balances in leasing divisions, with stable revenues from outsourced administrative services - Originations within the insurance premium financing receivables portfolios totaled **$5.5 billion** during Q3 2025, with average balances increasing by **$945.4 million** QoQ[39](index=39&type=chunk) | Leasing Division Portfolio Balances | Sep 30, 2025 | Jun 30, 2025 | | :-------------------------------- | :------------ | :------------ | | Capital Leases | $2.8 billion | $2.8 billion | | Loans | $1.2 billion | $1.2 billion | | Equipment on Operating Leases | $301.0 million | $289.8 million | - Revenues from outsourced administrative services business were **$1.2 million** in Q3 2025, remaining relatively stable QoQ[39](index=39&type=chunk) [Wealth Management](index=12&type=section&id=Wealth%20Management) The Wealth Management segment experienced an increase in revenue in Q3 2025, with significant assets under administration | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------- | :------- | :------- | :----------- | | Wealth Management Revenue | $37.2 million | N/A | Increased | | Assets Under Administration (Sep 30, 2025) | $55.1 billion | N/A | N/A | - Assets under administration included **$8.8 billion** of assets owned by the Company and its subsidiary banks[40](index=40&type=chunk) Key Operating Measures & Financial Highlights (Tables) This section provides comprehensive tables detailing Wintrust's key operating measures, financial condition data, statements of income data, and financial ratios across multiple periods [Key Operating Measures](index=13&type=section&id=Key%20Operating%20Measures) This section presents a table summarizing Wintrust's key operating measures and growth rates for Q3 2025 compared to Q2 2025 and Q3 2024, covering net income, EPS, revenue, margins, and balance sheet items | Metric | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | % Change from Q2 2025 | % Change from Q3 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :-------------------- | :-------------------- | | Net income (in thousands) | $216,254 | $195,527 | $170,001 | 11 % | 27 % | | Net income per common share – Diluted | 2.78 | 2.78 | 2.47 | — | 13 | | Net revenue (in thousands) | 697,837 | 670,783 | 615,730 | 4 | 13 | | Net interest income (in thousands) | 567,010 | 546,694 | 502,583 | 4 | 13 | | Net interest margin | 3.48 % | 3.52 % | 3.49 % | (4) bps | (1) bps | | Total assets (in thousands) | $69,629,638 | $68,983,318 | $63,788,424 | 4 % | 9 % | | Total loans (in thousands) | 52,063,482 | 51,041,679 | 47,067,447 | 8 | 11 | | Total deposits (in thousands) | 56,711,381 | 55,816,811 | 51,404,966 | 6 | 10 | | Total shareholders' equity (in thousands) | 7,045,757 | 7,225,696 | 6,399,714 | (10) | 10 | [Selected Financial Highlights](index=14&type=section&id=Selected%20Financial%20Highlights) This table provides a detailed breakdown of selected financial condition data, statements of income data, and financial ratios for multiple quarters and year-to-date periods, offering a comprehensive view of the company's financial trends | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | **Selected Financial Condition Data (at end of period, in thousands):** | | | | | | | Total assets | $69,629,638 | $68,983,318 | $65,870,066 | $64,879,668 | $63,788,424 | | Total loans | 52,063,482 | 51,041,679 | 48,708,390 | 48,055,037 | 47,067,447 | | Total deposits | 56,711,381 | 55,816,811 | 53,570,038 | 52,512,349 | 51,404,966 | | Total shareholders' equity | 7,045,757 | 7,225,696 | 6,600,537 | 6,344,297 | 6,399,714 | | **Selected Statements of Income Data (in thousands):** | | | | | | | Net interest income | $567,010 | $546,694 | $526,474 | $525,148 | $502,583 | | Net income | 216,254 | 195,527 | 189,039 | 185,362 | 170,001 | | Net income per common share – Diluted | 2.78 | 2.78 | 2.69 | 2.63 | 2.47 | | **Selected Financial Ratios and Other Data:** | | | | | | | Net interest margin | 3.48 % | 3.52 % | 3.54 % | 3.49 % | 3.49 % | | Return on average assets | 1.26 | 1.19 | 1.20 | 1.16 | 1.11 | | Return on average common equity | 11.58 | 12.07 | 12.21 | 11.82 | 11.63 | | Period-end loans to deposits ratio | 91.8 | 91.4 | 90.9 | 91.5 | 91.6 | | Common equity to assets ratio | 9.5 % | 9.3 % | 9.4 % | 9.1 % | 9.4 % | | Tier 1 leverage ratio | 9.5 | 10.2 | 9.6 | 9.4 | 9.6 | | Allowance for credit losses (in thousands) | $454,586 | $457,461 | $448,387 | $437,060 | $436,193 | Consolidated Financial Statements This section presents Wintrust's complete consolidated statements of condition and income, offering a comprehensive view of the company's financial position and operational results [Consolidated Statements of Condition](index=16&type=section&id=Consolidated%20Statements%20of%20Condition) The Consolidated Statements of Condition provide a detailed breakdown of Wintrust's assets, liabilities, and shareholders' equity at the end of various periods, highlighting the composition and changes in the balance sheet | (In thousands) | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :------------------------------------------ | :----------- | :----------- | :----------- | :----------- | :----------- | | **Assets** | | | | | | | Cash and due from banks | $565,406 | $695,501 | $616,216 | $452,017 | $725,465 | | Net loans | 51,676,860 | 50,650,025 | 48,330,183 | 47,691,020 | 46,707,168 | | Total assets | $69,629,638 | $68,983,318 | $65,870,066 | $64,879,668 | $63,788,424 | | **Liabilities** | | | | | | | Total deposits | $56,711,381 | $55,816,811 | $53,570,038 | $52,512,349 | $51,404,966 | | Total liabilities | $62,583,881 | $61,757,622 | $59,269,529 | $58,535,371 | $57,388,710 | | **Shareholders' Equity** | | | | | | | Total shareholders' equity | $7,045,757 | $7,225,696 | $6,600,537 | $6,344,297 | $6,399,714 | [Consolidated Statements of Income](index=17&type=section&id=Consolidated%20Statements%20of%20Income) The Consolidated Statements of Income present Wintrust's revenues, expenses, and net income for quarterly and year-to-date periods, detailing interest income and expense, non-interest income and expense, and earnings per share | (Dollars in thousands, except per share data) | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | 9M 2025 | 9M 2024 | | :------------------------------------------ | :------- | :------- | :------- | :------- | :------- | :------- | :------- | | Total interest income | $963,834 | $920,908 | $886,965 | $913,501 | $908,604 | $2,771,707 | $2,564,096 | | Total interest expense | 396,824 | 374,214 | 360,491 | 388,353 | 406,021 | 1,131,529 | 1,126,709 | | Net interest income | 567,010 | 546,694 | 526,474 | 525,148 | 502,583 | 1,640,178 | 1,437,387 | | Provision for credit losses | 21,768 | 22,234 | 23,963 | 16,979 | 22,334 | 67,965 | 84,068 | | Total non-interest income | 130,827 | 124,089 | 116,634 | 113,451 | 113,147 | 371,550 | 374,874 | | Total non-interest expense | 380,028 | 381,461 | 366,090 | 368,539 | 360,687 | 1,127,579 | 1,034,185 | | Net income | $216,254 | $195,527 | $189,039 | $185,362 | $170,001 | $600,820 | $509,683 | | Net income per common share - Diluted | $2.78 | $2.78 | $2.69 | $2.63 | $2.47 | $8.25 | $7.67 | Detailed Financial Tables This section provides in-depth financial data through detailed tables, covering loan and deposit portfolio analysis, net interest income and margin, interest rate sensitivity, allowance for credit losses, non-performing assets, and detailed non-interest income and expense [Loan Portfolio Analysis](index=18&type=section&id=Loan%20Portfolio%20Analysis) This section details the composition and growth rates of Wintrust's loan portfolio, distinguishing between core and niche loans, and providing annualized growth figures | Loan Category | Sep 30, 2025 (in thousands) | Jun 30, 2025 (in thousands) | Sep 30, 2024 (in thousands) | % Growth from Q2 2025 (Annualized) | % Growth from Q3 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :--------------------------------- | :-------------------- | | Total mortgage loans held-for-sale | $333,883 | $299,606 | $461,067 | 45 % | (28)% | | Total core loans | $30,610,433 | $29,928,663 | $28,363,712 | 9 % | 8 % | | Total niche loans | $21,453,049 | $21,113,016 | $18,703,735 | 6 % | 15 % | | Total loans, net of unearned income | $52,063,482 | $51,041,679 | $47,067,447 | 8 % | 11 % | - Core loans include commercial, commercial real estate, home equity, and residential real estate loans. Niche loans include franchise, mortgage warehouse lines, community advantage, insurance agency lending, and premium finance receivables[50](index=50&type=chunk) [Deposit Portfolio Analysis](index=19&type=section&id=Deposit%20Portfolio%20Analysis) This section provides a breakdown of Wintrust's deposit portfolio by type, including non-interest-bearing, NOW, money market, savings, and time certificates of deposit, along with their growth rates and mix | Deposit Category | Sep 30, 2025 (in thousands) | Jun 30, 2025 (in thousands) | Sep 30, 2024 (in thousands) | % Growth From Q2 2025 (Annualized) | % Growth From Q3 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :--------------------------------- | :-------------------- | | Non-interest-bearing | $10,952,146 | $10,877,166 | $10,739,132 | 3 % | 2 % | | NOW and interest bearing demand deposits | 6,710,919 | 6,795,725 | 5,466,932 | (5) | 23 | | Money market | 20,270,382 | 19,556,041 | 17,713,726 | 14 | 14 | | Savings | 6,758,743 | 6,659,419 | 6,183,249 | 6 | 9 | | Time certificates of deposit | 10,418,456 | 10,332,696 | 9,998,573 | 3 | 4 | | Total deposits | $56,711,381 | $55,816,811 | $51,404,966 | 6 % | 10 % | | Deposit Category Mix (Sep 30, 2025) | Percentage | | :----------------------------------- | :--------------------------------- | | Non-interest-bearing | 19 % | | NOW and interest bearing demand deposits | 12 % | | Wealth management deposits | 3 % | | Money market | 36 % | | Savings | 12 % | | Time certificates of deposit | 18 % | **Time Certificates of Deposit Maturity/Re-pricing Analysis (As of Sep 30, 2025):** | Maturity Period | Total Time Certificates of Deposit (in thousands) | Weighted-Average Rate | | :-------------- | :--------------------------------- | :-------------------- | | 1-3 months | $4,450,481 | 3.83 % | | 4-6 months | $3,165,121 | 3.72 % | | 7-9 months | $1,489,181 | 3.64 % | | 10-12 months | $973,156 | 3.79 % | | Total | $10,418,456 | 3.74 % | [Net Interest Income and Margin Analysis](index=20&type=section&id=Net%20Interest%20Income%20and%20Margin%20Analysis) This section provides detailed tables on quarterly and year-to-date average balances, net interest income, and net interest margin, including yields on earning assets and rates paid on interest-bearing liabilities **Quarterly Net Interest Income (in thousands):** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Total interest income (in thousands) | $966,663 | $923,788 | $889,864 | $916,571 | $911,748 | | Total interest expense (in thousands) | $396,824 | $374,214 | $360,491 | $388,353 | $406,021 | | Net interest income (GAAP, in thousands) | $567,010 | $546,694 | $526,474 | $525,148 | $502,583 | | Net interest income, fully taxable-equivalent (non-GAAP, in thousands) | $569,839 | $549,574 | $529,373 | $528,218 | $505,727 | **Quarterly Net Interest Margin:** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Yield earned on total earning assets | 5.93 % | 5.96 % | 5.98 % | 6.09 % | 6.33 % | | Rate paid on total interest-bearing liabilities | 3.21 % | 3.20 % | 3.22 % | 3.44 % | 3.75 % | | Net interest margin (GAAP) | 3.48 % | 3.52 % | 3.54 % | 3.49 % | 3.49 % | | Net interest margin, fully taxable-equivalent (non-GAAP) | 3.50 % | 3.54 % | 3.56 % | 3.51 % | 3.51 % | **Year-to-Date Net Interest Income and Margin (9 Months Ended):** | Metric | Sep 30, 2025 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | | Net interest income (GAAP, in thousands) | $1,640,178 | $1,437,387 | | Net interest income/margin (GAAP) | 3.51 % | 3.52 % | | Net interest income/margin, fully taxable-equivalent (non-GAAP) | 3.53 % | 3.54 % | [Interest Rate Sensitivity](index=24&type=section&id=Interest%20Rate%20Sensitivity) Wintrust manages its exposure to interest rate fluctuations through various strategies, including derivative instruments and originating longer-term fixed-rate loans **Static Shock Scenario (Percentage Change in Net Interest Income):** | Period | +200 Basis Points | +100 Basis Points | -100 Basis Points | -200 Basis Points | | :----- | :---------------- | :---------------- | :---------------- | :---------------- | | Sep 30, 2025 | (2.3)% | (0.8)% | 0.0 % | (0.4)% | | Jun 30, 2025 | (1.5) | (0.4) | (0.2) | (1.2) | | Sep 30, 2024 | 1.2 | 1.1 | 0.4 | (0.9) | **Ramp Scenario (Percentage Change in Net Interest Income):** | Period | +200 Basis Points | +100 Basis Points | -100 Basis Points | -200 Basis Points | | :----- | :---------------- | :---------------- | :---------------- | :---------------- | | Sep 30, 2025 | (0.2)% | (0.1)% | 0.1 % | (0.1)% | | Jun 30, 2025 | 0.0 | 0.0 | (0.1) | (0.4) | | Sep 30, 2024 | 1.6 | 1.2 | 0.7 | 0.5 | - Management has executed derivative instruments (collars, floors, receive fixed swaps) to hedge variable rate loan exposures and originated a higher percentage of longer-term fixed-rate loans[70](index=70&type=chunk) **Variable Rate Loan Pricing by Index (Sep 30, 2025):** | Index | Amount (in thousands) | | :-------------------- | :----------- | | SOFR tenors | $20,295,819 | | 12-month CMT | $7,284,381 | | Prime | $3,083,193 | | Fed Funds | $768,000 | | Other U.S. Treasury tenors | $191,629 | | Other | $136,529 | | Total variable rate | $31,759,551 | [Allowance for Credit Losses](index=27&type=section&id=Allowance%20for%20Credit%20Losses) This section provides a detailed breakdown of the allowance for credit losses, including provision, charge-offs, and recoveries by loan category, and the allowance by loan portfolio **Allowance for Credit Losses (in thousands):** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Allowance for credit losses at beginning of period | $457,461 | $448,387 | $437,060 | $436,193 | $437,560 | | Provision for credit losses - Other | 21,768 | 22,234 | 23,963 | 16,979 | 6,787 | | Total charge-offs | 28,846 | 18,495 | 17,449 | 19,731 | 31,018 | | Total recoveries | 4,291 | 5,155 | 4,809 | 3,806 | 4,283 | | Net charge-offs | (24,555) | (13,340) | (12,640) | (15,925) | (26,735) | | Allowance for credit losses at period end | $454,586 | $457,461 | $448,387 | $437,060 | $436,193 | | Annualized net charge-offs (% of avg. total loans) | 0.19 % | 0.11 % | 0.11 % | 0.13 % | 0.23 % | | Allowance for loan losses as a percentage of loans at period end | 0.74 % | 0.77 % | 0.78 % | 0.76 % | 0.77 % | **Allowance by Loan Portfolio (As of Sep 30, 2025):** | Loan Portfolio | Recorded Investment (in thousands) | Calculated Allowance (in thousands) | % of its category's balance | | :----------------------------------- | :------------------ | :------------------- | :-------------------------- | | Commercial | $16,544,342 | $189,476 | 1.15 % | | Commercial real estate | $13,619,207 | $230,477 | 1.69 % | | Home equity | $484,202 | $9,229 | 1.91 % | | Residential real estate | $4,143,870 | $12,013 | 0.29 % | | Premium finance receivables | $17,124,845 | $11,949 | 0.07 % | | Consumer and other | $147,016 | $1,047 | 0.71 % | | Total loans, net of unearned income | $52,063,482 | $454,191 | 0.87 % | | Total core loans | $30,610,433 | $408,780 | 1.34 % | | Total niche loans | $21,453,049 | $45,411 | 0.21 % | [Non-Performing Assets](index=29&type=section&id=Non-Performing%20Assets) This section provides detailed tables on loan portfolio aging, non-performing assets, and a rollforward of non-performing loans, illustrating trends in credit quality **Total Loans, Net of Unearned Income (Aging as of Sep 30, 2025):** | Status | Amount (in thousands) | | :----------------------------------- | :----------- | | Nonaccrual | $149,566 | | 90+ days and still accruing | $13,066 | | 60-89 days past due | $92,976 | | 30-59 days past due | $194,378 | | Current | $51,488,672 | | Total loans, net of unearned income | $52,063,482 | **Non-Performing Assets (in thousands):** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Total non-performing loans | $162,632 | $188,838 | $172,390 | $170,823 | $179,687 | | Other real estate owned | 24,832 | 23,615 | 22,625 | 23,116 | 13,682 | | Total non-performing assets | $187,464 | $212,453 | $195,015 | $193,939 | $193,369 | | Total non-performing loans (% of total loans) | 0.31 % | 0.37 % | 0.35 % | 0.36 % | 0.38 % | | Total non-performing assets (% of total assets) | 0.27 % | 0.31 % | 0.30 % | 0.30 % | 0.30 % | **Non-performing Loans Rollforward (excluding early buy-out loans, in thousands):** | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | | :----------------------------------- | :------- | :------- | :------- | :------- | :------- | | Balance at beginning of period | $188,838 | $172,390 | $170,823 | $179,687 | $174,251 | | Additions from becoming non-performing | 34,805 | 48,651 | 27,721 | 30,931 | 42,335 | | Return to performing status | (3,399) | (6,896) | (1,207) | (1,108) | (362) | | Payments received | (28,052) | (5,602) | (15,965) | (12,219) | (10,894) | | Charge-offs, net | (21,526) | (11,734) | (8,600) | (5,612) | (21,211) | | Balance at end of period | $162,632 | $188,838 | $172,390 | $170,823 | $179,687 | [Non-Interest Income Details](index=32&type=section&id=Non-Interest%20Income%20Details) This table provides a detailed breakdown of non-interest income components for quarterly and year-to-date periods, showing changes and percentage shifts | (Dollars in thousands) | Q3 2025 | Q2 2025 | Q3 2024 | $ Change Q3 2025 vs Q2 2025 | % Change Q3 2025 vs Q2 2025 | $ Change Q3 2025 vs Q3 2024 | % Change Q3 2025 vs Q3 2024 | | :----------------------------------- | :------- | :------- | :------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Total wealth management | $37,188 | $36,821 | $37,224 | $367 | 1 | $(36) | 0 | | Mortgage banking | 24,451 | 23,170 | 15,974 | 1,281 | 6 | 8,477 | 53 | | Service charges on deposit accounts | 19,825 | 19,502 | 16,430 | 323 | 2 | 3,395 | 21 | | Gains (losses) on investment securities, net | 2,972 | 650 | 3,189 | 2,322 | NM | (217) | (7) | | Fees from covered call options | 5,619 | 5,624 | 988 | (5) | 0 | 4,631 | NM | | Operating lease income, net | 15,466 | 15,166 | 15,335 | 300 | 2 | 131 | 1 | | Total Other | 25,134 | 23,005 | 24,137 | 2,129 | 9 | 997 | 4 | | Total Non-Interest Income | $130,827 | $124,089 | $113,147 | $6,738 | 5 % | $17,680 | 16 % | [Mortgage Banking Details](index=34&type=section&id=Mortgage%20Banking%20Details) This section provides a comprehensive overview of mortgage banking activities, including originations, production margin, loans serviced for others, and MSR fair value asset activity for quarterly and year-to-date periods **Mortgage Banking (Three Months Ended, Dollars in thousands, except percentages):** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Total originations for sale | $643,393 | $681,546 | $460,453 | $660,338 | $766,777 | | Total originations | $994,405 | $1,104,472 | $677,630 | $1,015,457 | $985,761 | | Production revenue | $15,388 | $13,380 | $9,941 | $6,993 | $13,113 | | Production margin | 1.95 % | 2.07 % | 1.80 % | 1.42 % | 1.61 % | | Loans serviced for others | $12,524,131 | $12,470,924 | $12,402,352 | $12,400,913 | $12,253,361 | | Mortgage Servicing Rights ("MSR"), at fair value | $190,938 | $193,061 | $196,307 | $203,788 | $186,308 | | Total mortgage banking revenue | $24,451 | $23,170 | $20,529 | $20,452 | $15,974 | **Mortgage Banking (Nine Months Ended, Dollars in thousands, except percentages):** | Metric | Sep 30, 2025 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | | Total originations for sale | $1,785,392 | $1,964,576 | | Total originations | $2,776,507 | $2,628,137 | | Production revenue | $38,709 | $41,538 | | Production margin | 1.95 % | 1.96 % | | Loans serviced for others | $12,524,131 | $12,253,361 | | MSRs, at fair value | $190,938 | $186,308 | | Total mortgage banking revenue | $68,150 | $72,761 | [Non-Interest Expense Details](index=36&type=section&id=Non-Interest%20Expense%20Details) This table provides a detailed breakdown of non-interest expense components for quarterly and year-to-date periods, showing changes and percentage shifts | (Dollars in thousands) | Q3 2025 | Q2 2025 | Q3 2024 | $ Change Q3 2025 vs Q2 2025 | % Change Q3 2025 vs Q2 2025 | $ Change Q3 2025 vs Q3 2024 | % Change Q3 2025 vs Q3 2024 | | :----------------------------------- | :------- | :------- | :------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Total salaries and employee benefits | $219,668 | $219,541 | $211,261 | $127 | 0 | $8,407 | 4 | | Software and equipment | 35,027 | 36,522 | 31,574 | (1,495) | (4) | 3,453 | 11 | | Occupancy, net | 20,809 | 20,228 | 19,945 | 581 | 3 | 864 | 4 | | Data processing | 11,329 | 12,110 | 9,984 | (781) | (6) | 1,345 | 13 | | Advertising and marketing | 19,027 | 18,761 | 18,239 | 266 | 1 | 788 | 4 | | Professional fees | 7,465 | 9,243 | 9,783 | (1,778) | (19) | (2,318) | (24) | | Amortization of other acquisition-related intangible assets | 5,196 | 5,580 | 4,042 | (384) | (7) | 1,154 | 29 | | FDIC insurance | 11,418 | 10,971 | 10,512 | 447 | 4 | 906 | 9 | | Total other | 39,418 | 37,243 | 35,767 | 2,175 | 6 | 3,651 | 10 | | Total Non-Interest Expense | $380,028 | $381,461 | $360,687 | $(1,433) | 0 % | $19,341 | 5 % | Supplemental Non-GAAP Financial Measures/Ratios This section provides reconciliations of GAAP to non-GAAP financial measures and ratios, offering additional insights into Wintrust's operational performance, equity structure, and core profitability [Non-GAAP Net Interest Margin and Efficiency Ratio Reconciliation](index=37&type=section&id=Non-GAAP%20Net%20Interest%20Margin%20and%20Efficiency%20Ratio%20Reconciliation) This section provides reconciliations of GAAP to non-GAAP measures for net interest income, net interest margin, and the efficiency ratio, offering a clearer view of operational performance by adjusting for tax-exempt income and securities gains/losses - Management uses taxable-equivalent net interest income and margin to ensure comparability of interest income from both taxable and tax-exempt sources[95](index=95&type=chunk) - The efficiency ratio (non-GAAP) excludes securities gains or losses to better match revenue from daily operations to operational expenses[95](index=95&type=chunk) **Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio (in thousands):** | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | 9M 2025 | 9M 2024 | | :----------------------------------- | :------- | :------- | :------- | :------- | :------- | :------- | :------- | | Net Interest Income (GAAP) | $567,010 | $546,694 | $526,474 | $525,148 | $502,583 | $1,640,178 | $1,437,387 | | Net Interest Income (non-GAAP) | $569,839 | $549,574 | $529,373 | $528,218 | $505,727 | $1,648,786 | $1,446,207 | | Net interest margin (GAAP) | 3.48 % | 3.52 % | 3.54 % | 3.49 % | 3.49 % | 3.51 % | 3.52 % | | Net interest margin, fully taxable equivalent (non-GAAP) | 3.50 | 3.54 | 3.56 | 3.51 | 3.51 | 3.53 | 3.54 | | Efficiency ratio (GAAP) | 54.69 % | 56.92 % | 57.21 % | 57.46 % | 58.88 % | 56.24 % | 57.07 % | | Efficiency ratio (non-GAAP) | 54.47 | 56.68 | 56.95 | 57.18 | 58.58 | 56.00 | 56.80 | [Non-GAAP Tangible Common Equity Ratios Reconciliation](index=38&type=section&id=Non-GAAP%20Tangible%20Common%20Equity%20Ratios%20Reconciliation) This section reconciles GAAP to non-GAAP measures for tangible common equity ratio, tangible book value per common share, and return on average tangible common equity, providing insights into the company's equity structure and profitability excluding intangible assets - Management considers the tangible common equity ratio and tangible book value per common share as useful measurements of the Company's equity, and return on average tangible common equity as a measurement of profitability[95](index=95&type=chunk) **Reconciliation of Non-GAAP Tangible Common Equity Ratio (in thousands):** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Total shareholders' equity (GAAP) | $7,045,757 | $7,225,696 | $6,600,537 | $6,344,297 | $6,399,714 | | Total tangible common shareholders' equity (non-GAAP) | $5,717,821 | $5,479,557 | $5,275,033 | $5,013,165 | $5,062,568 | | Common equity to assets ratio (GAAP) | 9.5 % | 9.3 % | 9.4 % | 9.1 % | 9.4 % | | Tangible common equity ratio (non-GAAP) | 8.3 | 8.0 | 8.1 | 7.8 | 8.1 | **Reconciliation of Non-GAAP Tangible Book Value per Common Share:** | Metric | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :----------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Book value per common share | $98.87 | $95.43 | $92.47 | $89.21 | $90.06 | | Tangible book value per common share (non-GAAP) | 85.39 | 81.86 | 78.83 | 75.39 | 76.15 | [Non-GAAP Net Income per Common Share Reconciliation](index=39&type=section&id=Non-GAAP%20Net%20Income%20per%20Common%20Share%20Reconciliation) This section reconciles GAAP net income per common share to non-GAAP measures, adjusting for non-recurring preferred stock offering impacts to provide a clearer view of core earnings - Management considers pre-tax income, excluding provision for credit losses, as a useful measurement of the Company's core net income[95](index=95&type=chunk) **Reconciliation of Non-GAAP Net Income per Common Share (in thousands, except per share data):** | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | 9M 2025 | 9M 2024 | | :----------------------------------- | :------- | :------- | :------- | :------- | :------- | :------- | :------- | | Net income | $216,254 | $195,527 | $189,039 | $185,362 | $170,001 | $600,820 | $509,683 | | Preferred stock dividends | 13,295 | 6,991 | 6,991 | 6,991 | 6,991 | 27,277 | 20,973 | | Preferred stock redemption | 14,046 | — | — | — | — | 14,046 | — | | Net income applicable to common shares | $188,913 | $188,536 | $182,048 | $178,371 | $163,010 | $559,497 | $488,710 | | Net income per common share - Diluted | $2.78 | $2.78 | $2.69 | $2.63 | $2.47 | $8.25 | $7.67 | | Total non-recurring preferred stock offering impact (non-GAAP) | $18,973 | $— | $— | $— | $— | $18,973 | $— | | Net income per common share - Diluted (non-GAAP) | $3.06 | $2.78 | $2.69 | $2.63 | $2.47 | $8.53 | $7.67 | Company Information & Forward-Looking Statements This section provides an overview of Wintrust's subsidiary operations and outlines important forward-looking statements and various risk factors that could influence future financial outcomes [Wintrust Subsidiaries](index=40&type=section&id=Wintrust%20Subsidiaries) Wintrust Financial Corporation operates as a financial holding company with 16 community bank subsidiaries and various non-bank businesses across several market areas - Wintrust operates **16 community bank subsidiaries** in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas[100](index=100&type=chunk) - Non-bank businesses include: FIRST Insurance Funding and Wintrust Life Finance (commercial and life insurance loans)[102](index=102&type=chunk) - First Insurance Funding of Canada (commercial insurance loans)[102](index=102&type=chunk) - Tricom, Inc. (accounts receivable financing and outsourced administrative services)[102](index=102&type=chunk) - Wintrust Mortgage (residential mortgages origination and purchase)[102](index=102&type=chunk) - Wintrust Investments, LLC (private client and brokerage services)[102](index=102&type=chunk) - Great Lakes Advisors LLC (money management and advisory services)[102](index=102&type=chunk) - Wintrust Private Trust Company, N.A. (trust and investment services)[102](index=102&type=chunk) - Wintrust Asset Finance (direct leasing opportunities)[102](index=102&type=chunk) - CDEC (Qualified Intermediary services for tax-deferred like-kind exchanges)[102](index=102&type=chunk) [Forward-Looking Statements & Risk Factors](index=40&type=section&id=Forward-Looking%20Statements%20%26%20Risk%20Factors) This section outlines the forward-looking nature of statements in the document and details various risk factors that could cause actual results to differ materially from projections, covering economic conditions, credit quality, market volatility, competition, regulatory changes, and operational risks - Forward-looking statements are based on management's expectations, estimates, and projections regarding future events and are subject to risks and uncertainties[101](index=101&type=chunk) - Economic conditions and events affecting the economy, housing prices, and the job market[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Extent of defaults and losses on the loan portfolio, requiring increases in allowance for credit losses[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Changes in the level and volatility of interest rates, capital markets, and other market indices[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Competitive pressures in the financial services business affecting pricing and market share[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Failure to identify and complete favorable acquisitions or unexpected losses from acquisitions[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Security breaches, failures of security systems or infrastructure, and cyberattacks[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Legislative or regulatory changes, including heightened capital requirements and increased FDIC insurance premiums[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) - Fluctuations in the stock market impacting wealth management and brokerage operations[103](index=103&type=chunk)[104](index=104&type=chunk)[107](index=107&type=chunk) [Conference Call Information](index=42&type=section&id=Conference%20Call%20Information) Details for the conference call regarding Q3 and year-to-date 2025 earnings results, including registration, webcast, and replay information - A conference call will be held on Tuesday, October 21, 2025, at **10:00 a.m. (CDT)** to discuss Q3 and year-to-date 2025 earnings[106](index=106&type=chunk) - Registration for the call and access to the audio-only webcast and replay, along with an accompanying slide presentation, are available on the Wintrust website (www.wintrust.com) under Investor Relations[106](index=106&type=chunk)

Market Overview - The U.S. stock market had a strong start on October 20, 2025, with major indexes rising over 1%, driven by a rally in the technology sector and positive corporate earnings outlook [1] - The Dow Jones Industrial Average (DJIA) increased by over 450 points, closing at 46,587.56, contributing to an 8.7% year-to-date gain [2] - The S&P 500 advanced by 1.03% to 1.19%, nearing its all-time high, with a year-to-date gain of 14.8% [3] - The Nasdaq Composite led the gains with a rally of 1.39% to 1.52%, reflecting strong investor confidence in growth sectors, especially in artificial intelligence [4] Key Market Drivers - A report from Counterpoint Research highlighted strong demand for Apple's new iPhone 17 series, boosting optimism in the technology sector [5] - Analysts expect a 9.3% year-on-year growth in third-quarter S&P 500 earnings, an improvement over previous estimates [5] Major Stock News - Apple Inc. (AAPL) shares surged approximately 4.5% to an all-time high of $262.79, driven by strong sales of the iPhone 17, which outsold the iPhone 16 by 14% in its first ten days [6] - Amazon (AMZN) shares rose 1.6% after recovering from losses due to a cloud-computing outage [7] - Tesla (TSLA) closed up 1.9% ahead of its third-quarter earnings report [7] - Semiconductor stocks saw significant gains, with the Philadelphia Semiconductor Index reaching an all-time high [8] Notable Movements - Cleveland-Cliffs (CLF) shares jumped 24% following news of a potential deal with a major steel producer [9] - WeightWatchers (WW) surged 9.6% after announcing a partnership with Amazon for weight-loss drug delivery [9] - AMD (AMD) continued its strong performance, with shares up $8.88 after positive analyst ratings [10] Upcoming Market Events - Over 80 S&P 500 companies are expected to report earnings this week, including notable companies like Netflix, Tesla, and Coca-Cola [11] - The delayed U.S. Consumer Price Index (CPI) data is set to be released on October 24, which will be closely monitored for inflation implications [12]

Core Insights - Wintrust Financial (WTFC) is expected to report quarterly earnings of $2.63 per share, a 6.5% increase year-over-year, with revenues projected at $681.43 million, reflecting a 10.7% year-over-year growth [1] Earnings Projections - The consensus EPS estimate has been adjusted downward by 0.4% over the past 30 days, indicating a reassessment by analysts [1][2] - Analysts emphasize the importance of earnings estimate revisions as a predictor of investor behavior and stock price performance [2] Key Financial Metrics - Analysts project the 'Efficiency Ratio' to reach 56.3%, down from 58.9% in the same quarter last year [4] - The 'Net Interest Margin' is expected to remain stable at 3.5%, consistent with the previous year's figure [4] - 'Average balance - Total earning assets' is forecasted to be $63.50 billion, up from $57.27 billion year-over-year [4] Additional Financial Estimates - The 'Tier 1 leverage ratio' is expected to be 9.6%, slightly up from 9.4% a year ago [5] - 'Total Non-Interest Income' is projected at $122.13 million, an increase from $113.15 million year-over-year [5] - 'Net interest income - FTE' is anticipated to reach $563.57 million, compared to $505.73 million in the same quarter last year [5] Other Metrics - The average prediction for 'Net Interest Income' stands at $558.27 million, up from $502.58 million year-over-year [6] - 'Service charges on deposit accounts' are expected to be $19.90 million, compared to $16.43 million last year [6] - 'Wealth management' is projected at $37.10 million, slightly down from $37.22 million year-over-year [7] - 'Mortgage banking' is estimated to reach $26.41 million, significantly up from $15.97 million last year [7] - The consensus for 'Operating lease income, net' is $15.20 million, compared to $15.34 million in the same quarter last year [8] Stock Performance - Over the past month, Wintrust shares have recorded a return of -0.8%, while the Zacks S&P 500 composite has seen a +1% change [8] - Wintrust is currently rated Zacks Rank 4 (Sell), indicating a likely underperformance compared to the overall market [8]