Welcome to our dedicated page for Wintrust Fincl news (Ticker: WTFC), a resource for investors and traders seeking the latest updates and insights on Wintrust Fincl stock.
Wintrust Financial Corporation reports news on its community banking, specialty finance and wealth management businesses. The financial holding company serves markets in greater Chicago, southern Wisconsin, west Michigan, northwest Indiana and southwest Florida through community bank subsidiaries and non-bank units.
Recurring updates cover quarterly earnings, net interest income, loan and deposit trends, dividends on common and preferred securities, board governance and investor conference participation. Company news also reflects business lines such as residential mortgage origination, commercial and life insurance premium financing, short-term accounts receivable financing for the temporary staffing industry and qualified intermediary services for tax-deferred exchanges.
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Wintrust Financial Corporation (WTFC) reported net income of $98.8 million in Q4 2021, down 11% from Q3 2021. However, annual net income reached a record $466.2 million, up 59% from $293 million in 2020. Total assets increased by $2.3 billion to $50.1 billion, driven by a $2.0 billion rise in loans, excluding PPP loans. Non-performing loans decreased to 0.21% of total loans. Net interest income rose by $8.5 million, despite a slight decline in net interest margin to 2.54%. The company recorded a provision for credit losses of $9.3 million, reflecting strong loan growth.
Wintrust Financial Corporation (Nasdaq: WTFC) will announce its fourth quarter and year-to-date 2021 earnings on January 19, 2022, after market close. A conference call is scheduled for January 20, 2022, at 12:00 p.m. EST, accessible via phone or webcast. With approximately $48 billion in assets, Wintrust focuses on community banking and offers various financial services through its fifteen subsidiaries in the Chicago and southern Wisconsin areas. A replay of the call and earnings release will be available on the company’s website following the event.
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Wintrust Financial Corporation (NASDAQ: WTFC) and Armed Forces Bank received the 2021 Community Impact Award at the CRA & Fair Lending Colloquium held on November 16-17. This recognition is for their innovative programs aiding low- and moderate-income communities. Wintrust's PPP Resource Centers helped over 1,000 businesses secure $17 million in loans during the pandemic. Meanwhile, Armed Forces Bank's Access Loan Program has supported 4,300 military families with immediate financial needs, showcasing effective banking solutions that positively impact community welfare.
Wintrust Financial Corporation (Nasdaq: WTFC) announced an agreement to purchase approximately $570 million in loans from Allstate Corporation. This portfolio includes 1,800 loans aimed at supporting Allstate agents nationwide in establishing and expanding their businesses. Wintrust will also be the preferred national provider of loans for Allstate agents, enhancing their access to various financial services, including SBA and real estate-related financing. The transaction is expected to close in November 2021.
Wintrust Financial Corporation (NASDAQ: WTFC) announced a quarterly cash dividend of $0.31 per share, payable on November 26, 2021, to shareholders of record as of November 11, 2021. The Board also approved dividends on its preferred stocks, payable on January 15, 2022. Additionally, the Company authorized a $200 million stock repurchase program, complementing the remaining $23 million under the previous plan. This buyback aims to enhance shareholder value, subject to market conditions and other factors.
Wintrust Financial Corporation (WTFC) reported a net income of $109.1 million, or $1.77 per share, for Q3 2021, marking a 4% increase from Q2 2021 and a 6% rise year-over-year. Year-to-date, net income reached $367.4 million, a significant 92% increase compared to the same period in 2020. Total loans (excluding PPP) rose by $1.2 billion (15% annualized), while total deposits also increased by $1.1 billion. Notably, the allowance for credit losses decreased, reflecting improved credit quality, with non-performing loans stable at 0.27%.
Wintrust Financial Corporation (Nasdaq: WTFC) announced its plans to release its third quarter and year-to-date 2021 earnings results on October 19, 2021, after market closure. A conference call is scheduled for October 20, 2021, at 12:00 p.m. EDT, accessible via phone or webcast. Wintrust, with approximately $47 billion in assets, focuses on community banking across the greater Chicago and southern Wisconsin areas, operating numerous banking and non-banking business units. The company emphasizes advanced technology while maintaining personalized service.
Wintrust Financial Corporation (Nasdaq: WTFC) has declared a quarterly cash dividend of $0.31 per share, payable on August 19, 2021, to shareholders of record as of August 5, 2021. Moreover, dividends on the 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, will be paid on October 15, 2021, to shareholders of record as of October 1, 2021. Wintrust, with assets exceeding $46 billion, operates community banking and various non-bank services.