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 record quarterly net income of $180.2 million, or $2.80 per diluted share, for Q1 2023, a 26% increase from Q4 2022. Pre-tax, pre-provision income reached $266.6 million, compared to $242.8 million in the previous quarter. Total deposits decreased by $184 million (0.4%), while total loans rose by $369 million. The net interest margin improved to 3.81%, from 3.71%, attributed to higher yields on earning assets. A provision for credit losses of $23 million was recorded, down from $47.6 million in Q4 2022. Non-performing assets remained stable at 0.21% of total assets. Book value per common share increased to $75.24, while tangible book value rose to $64.22. Wintrust aims to strengthen its retail deposit market share going forward.
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