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Wintrust Financial Corporation - WTFC STOCK NEWS

Welcome to our dedicated page for Wintrust Financial Corporation news (Ticker: WTFC), a resource for investors and traders seeking the latest updates and insights on Wintrust Financial Corporation stock.

Wintrust Financial Corp (symbol: WTFC) is a diversified financial services holding company headquartered in Rosemont, Illinois, with assets exceeding $21 billion. Through its 15 wholly-owned banking subsidiaries and over 145 locations, Wintrust provides a comprehensive range of traditional and specialized financial services to communities in the greater Chicago area and southern Wisconsin.

Wintrust operates through three main segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers a wide array of personal and commercial banking services, including checking and savings accounts, loans, and mortgages. The Specialty Finance segment provides unique financial solutions such as commercial insurance premium financing, short-term accounts receivable financing, and mortgage origination. The Wealth Management segment delivers services in financial planning, investment management, and trust and estate administration.

The company's business model is grounded in a community-oriented approach, aiming to foster lasting relationships with customers and local businesses. Wintrust has historically expanded through both organic growth and strategic acquisitions, enhancing its service offerings and market reach.

In recent developments, Wintrust has focused on maintaining a robust loan portfolio, predominantly in commercial real estate, and consistently generating net interest income as its primary revenue source. The company has also been proactive in adopting technology to streamline operations, including data processing, payroll services, and billing and treasury management.

Financially, Wintrust remains stable with a strong balance sheet, demonstrating resilience through various economic cycles. The company is committed to sustainable growth and shareholder value, regularly reviewing its financial performance and adjusting strategies to meet evolving market demands.

For the latest updates, including consolidated statements of income, loan and deposit portfolio analyses, and other key operating measures, stakeholders can access detailed financial reports and news releases on Wintrust's official website.

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Wintrust Financial (Nasdaq: WTFC) reported a record net income of $339.7 million ($5.21 per share) for the first half of 2024, up from $334.9 million ($5.18 per share) in the same period of 2023. Pre-tax, pre-provision income (non-GAAP) also hit a record $523.0 million, compared to $506.5 million last year. However, quarterly net income fell to $152.4 million ($2.32 per share) from $187.3 million ($2.89 per share) in Q1 2024. Total loans increased by $1.4 billion (13% annualized), with deposits up by $1.6 billion (14% annualized). Notably, net interest income rose to $470.6 million due to average earning asset growth, despite a decrease in net interest margin by seven basis points to 3.50%. The company is optimistic about sustained financial performance in the coming quarters, driven by loan and deposit growth, stable net interest margins, and disciplined expense control. Challenges include a rise in non-performing loans and net charge-offs, which totaled $30.0 million in Q2 2024.

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Wintrust Financial (Nasdaq: WTFC) announced its schedule for releasing second quarter and year-to-date 2024 earnings results. The results will be published after market close on July 17, 2024, followed by a conference call on July 18, 2024, at 10:00 a.m. CDT. The webcast can be accessed through the company's website, and participants can register for the call to receive a unique PIN for seamless access. A slide presentation will accompany the call and will be available on Wintrust's website. Both the webcast replay and slides will be accessible post-event. Wintrust operates 15 community bank subsidiaries with over 170 locations in the Chicago and southern Wisconsin areas and offers various financial services including mortgage origination, insurance financing, and wealth management. The company has assets of approximately $57 billion.

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Wintrust Financial (WTFC) has announced a quarterly cash dividend of $0.45 per share of outstanding common stock. The dividend is payable on May 23, 2024, to shareholders of record as of May 9, 2024. Additionally, the Company approved quarterly cash dividends on outstanding shares of its preferred stocks.
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Wintrust Financial reported record first-quarter 2024 net income of $187.3 million, with diluted earnings per share up by 55% compared to the previous quarter. Total loans and deposits increased by approximately $1.1 billion each, while total assets increased by $1.3 billion. Net interest margin decreased slightly to 3.57%, with net interest income at $464.2 million. Non-interest income was impacted by gains from the sale of the Retirement Benefits Advisors division and favorable net valuation adjustments. However, non-interest expenses were affected by an accrual for FDIC special assessments. Provision for credit losses decreased, and credit metrics remained steady. Overall, Wintrust Financial had a strong quarter with positive momentum and a focus on long-term value.
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Wintrust Financial and Macatawa Bank have announced a merger agreement for Wintrust to acquire Macatawa in an all-stock transaction. Macatawa, with approximately $2.7 billion in assets, will be acquired for an estimated $510.3 million, or $14.85 per share. The transaction is expected to close in the second half of 2024.
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Wintrust Financial (WTFC) has been recognized as the Most Trusted Retail Bank in Illinois for the third consecutive year in the J.D. Power 2024 U.S. Retail Banking Satisfaction Study, scoring highest in the Regional Trust Index. With over 105,000 retail banking customers surveyed, Wintrust continues to excel in customer satisfaction and trust. CEO Timothy S. Crane highlighted the dedication of the bank's employees in earning customer trust and providing exceptional service. Wintrust has also made significant strides in customer support by eliminating overdraft and item return fees, expanding branch networks, and acquiring a prominent U.S. asset management business. The company's commitment to innovation and customer engagement has earned it various prestigious awards, reinforcing its position as a leading financial institution.
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Wintrust Financial (WTFC) is set to announce its first quarter 2024 earnings results on April 17, 2024, followed by a conference call on April 18, 2024. Investors can access the audio webcast and slide presentation on the company's website. Registration for the call is required to participate and ask questions directly to management.
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Wintrust Financial Corporation (WTFC) to present at Raymond James Institutional Investors Conference, offering a Q&A session on March 4, 2024. The event will be webcast and accessible for 90 days post-conference.
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Wintrust Financial Corporation to present at RBC Capital Markets Global Financial Institutions Conference on March 5-6, 2024. Management will participate in a Q&A session. Event accessible via audio webcast on company's website. Replay available for 90 days.
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Wintrust Financial Corporation (WTFC) and LPL Financial Holdings Inc. (LPLA) have agreed to transition support for Wintrust Investments, LLC and Great Lakes Advisors, LLC wealth management businesses to LPL's Institution Services platform. The move involves approximately 85 advisors and $16 billion in brokerage and advisory assets. Wintrust Investments, LLC will transfer $13 billion of assets, while Great Lakes Advisors, LLC will transfer $3 billion of private client advisory assets to LPL.
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FAQ

What services does Wintrust Financial Corp provide?

Wintrust offers community banking, wealth management, commercial insurance premium financing, mortgage origination, and accounts receivable financing.

Where is Wintrust Financial Corp located?

Wintrust is headquartered in Rosemont, Illinois, and operates in the greater Chicago area and southern Wisconsin.

What are the main segments of Wintrust's operations?

The main segments are Community Banking, Specialty Finance, and Wealth Management.

How does Wintrust Financial Corp generate its revenue?

The majority of Wintrust's revenue comes from net interest income generated by its commercial and real estate loan portfolios.

How has Wintrust Financial Corp grown over the years?

Wintrust has expanded through both organic growth and strategic acquisitions, enhancing its service offerings and market reach.

What makes Wintrust Financial Corp unique?

Wintrust's community-oriented approach and diversified financial services make it a unique financial entity in its operating regions.

What recent developments has Wintrust Financial Corp made?

Wintrust has prioritized maintaining a strong loan portfolio, leveraging technology for operational efficiency, and consistently producing net interest income.

How does Wintrust Financial Corp ensure financial stability?

Wintrust maintains a robust balance sheet, actively manages its financial performance, and adapts strategies to meet market demands.

Where can I find detailed financial reports of Wintrust Financial Corp?

Detailed financial reports and news releases are available on Wintrust's official website, providing comprehensive financial and operational insights.

Who are the key executives of Wintrust Financial Corp?

Key executives include Timothy S. Crane, President & CEO, and David A. Dykstra, Vice Chairman & COO.

Wintrust Financial Corporation

Nasdaq:WTFC

WTFC Rankings

WTFC Stock Data

6.49B
61.75M
1.44%
97.26%
2.25%
Commercial Banking
Finance and Insurance
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United States of America
ROSEMONT