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.
Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.28 per share, payable on November 27, 2020, to shareholders of record by November 12, 2020. Additionally, dividends on Series D and Series E preferred stock will be distributed on January 15, 2021, to those on record by January 1, 2021. Wintrust has over $43 billion in assets and operates 15 community bank subsidiaries in the Chicago and southern Wisconsin areas, focusing on service-based banking.
Wintrust Financial Corporation (Nasdaq: WTFC) reported record net income of $107.3 million or $1.67 per diluted share for Q3 2020, a 391% increase from Q2 2020, but a 1% decrease compared to Q3 2019. Year-to-date net income was $191.8 million, down from $269.7 million in the same period in 2019. Total assets rose by $192 million, with loans up by $733 million. However, net interest income decreased by $7.2 million primarily due to lower PPP loan fee accretion. Mortgage banking revenue reached $108.5 million, while non-performing assets fell to 0.42%.
Wintrust Financial Corporation (Nasdaq: WTFC) plans to present at the Stephens 10th Annual Bank Forum on September 23, 2020. The presentation materials will be accessible on their website. Wintrust, with over $43 billion in assets, combines advanced banking technology with community-focused service through 15 subsidiaries and over 180 locations in the Chicago and southern Wisconsin regions. Their diverse operations also include various non-bank business units, providing services like insurance premium financing and wealth management.
Wintrust Financial Corporation (Nasdaq: WTFC) has announced a quarterly cash dividend of $0.28 per share of outstanding common stock, payable on August 20, 2020, to shareholders of record as of August 6, 2020. Additionally, dividends were approved for its 6.50% Fixed-to-Floating and 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stocks, payable on October 15, 2020, to shareholders of record as of October 1, 2020. With assets over $43.5 billion, Wintrust continues to serve the community banking sector across the greater Chicago and southern Wisconsin areas.
Wintrust Financial Corporation (WTFC) reported a net income of $21.7 million, or $0.34 per share, for Q2 2020, marking a 67.3% decrease from Q1 2020 and a 75.4% drop year-over-year. However, total assets increased by $4.7 billion, supported by $3.3 billion in Paycheck Protection Program (PPP) loans. Despite higher mortgage banking revenues of $102.3 million, credit losses rose to $135.1 million amid economic challenges. The company's loans to deposits ratio stood at 88.1%, and they completed a preferred stock issuance yielding $278.4 million. CEO Wehmer emphasized commitment to community support amid COVID-19 challenges.
Wintrust Financial Corporation (NASDAQ: WTFC) plans to release its Q2 2020 earnings results after market close on July 21, 2020, followed by a conference call on July 22, 2020 at 11:00 a.m. CDT. Interested participants can join the call by dialing 877-363-5049 with Conference ID #6266965, or by accessing a simultaneous audio-only web cast on the company’s website.
Wintrust, with assets of approximately $39 billion, operates 15 community bank subsidiaries and various non-bank units.
Wintrust Financial Corporation (Nasdaq: WTFC) has priced an underwritten public offering of 10 million depositary shares at $25.00 each, aiming for gross proceeds of $250 million. Each share represents a 1/1,000th interest in Wintrust's 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E. The offering includes a 30-day option for underwriters to purchase up to 1.5 million additional shares and is set to close on May 15, 2020. Proceeds will support corporate purposes, including debt reduction and growth initiatives.