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.
Wintrust Financial Corporation (WTFC) announced the transition of its Chief Executive Officer role, effective May 1, 2023. Timothy S. Crane, currently President, will take over as CEO and join the Board of Directors immediately. Edward J. Wehmer will remain CEO until April 30, 2023, then transition to Executive Chairman until May 23, 2024, before becoming Founder and Senior Advisor until December 31, 2026. H. Patrick Hackett Jr. continues as Chairman and Lead Independent Director. The transition follows a rigorous succession planning process and is expected to provide continuity and confidence in Wintrust’s future. Wintrust operates over 170 locations with around $53 billion in assets.
Wintrust Financial Corporation (NASDAQ: WTFC) announced a quarterly cash dividend of $0.40 per share, marking a 17.6% increase from 2022's $0.34. The dividend is payable on February 23, 2023, to shareholders of record by February 9, 2023. Additionally, 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, are set for April 15, 2023, with record date April 1, 2023. Wintrust operates approximately $53 billion in assets across 15 community bank subsidiaries.
Wintrust Financial Corporation (Nasdaq: WTFC) reported a strong financial performance for Q4 2022, with net income reaching $144.8 million or $2.23 per diluted share, a 1% increase from Q3 2022. The company achieved record annual net income of $509.7 million for 2022, up 9% from $466.2 million in 2021. Notable highlights include a 14% increase in net interest income, totaling $456.8 million, driven by improved net interest margins and loan growth. Total loans rose by $1 billion (11% annualized). However, a provision for credit losses of $47.6 million was recorded amid macroeconomic challenges. The company aims to grow deposits in 2023 while maintaining strong credit quality.
Wintrust Financial Corporation (Nasdaq: WTFC) has announced its fourth quarter and year-to-date 2022 earnings results will be released after market close on January 18, 2023. A conference call is scheduled for January 19, 2023, at 10:00 a.m. (CDT). Investors can access the audio-only webcast on their website. Wintrust, with approximately $52 billion in assets, operates fifteen community bank subsidiaries and various non-bank business units, focusing on community banking while leveraging advanced technology.
Lisa Pattis has been appointed to the Board of Trustees at the National Philanthropic Trust (NPT), the largest independent public charity managing donor-advised funds in the U.S. Pattis brings extensive experience in corporate law, global investing, and philanthropy. Previously, she was General Counsel at Wintrust Financial Corporation (NASDAQ: WTFC) and has held leadership roles in various organizations. NPT has raised over $40.5 billion since its inception, making more than 541,000 grants totaling over $21.0 billion to nonprofits worldwide.
Wintrust Financial Corporation (NASDAQ: WTFC) announced an agreement to acquire two asset management businesses from Rothschild & Co, managing approximately $8 billion in assets. The businesses, Rothschild & Co Asset Management U.S. and Rothschild & Co Risk Based Investments, will merge into Wintrust's Great Lakes Advisors. This acquisition aims to enhance Wintrust's investment strategies and capabilities, focusing on expanding its wealth management services. The transaction is expected to close in early 2023, pending certain conditions.
Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.34 per share, payable on November 25, 2022, to shareholders of record by November 10, 2022. Additionally, dividends were approved for the 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and the 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, both payable on January 15, 2023, to record shareholders as of January 1, 2023.
Wintrust Financial Corporation (WTFC) reported a net income of $143 million or $2.21 per diluted share for Q3 2022, a 48% increase from the previous quarter. Total loans rose by $1.1 billion (12% annualized), bolstered by robust loan growth across all key sectors. Net interest income surged by $63.6 million (19%), driven by improved net interest margins. Total assets reached $52.4 billion as of September 30, 2022, marking significant growth, but mortgage banking revenue fell to $27.2 million due to reduced origination volume.
Wintrust Financial Corporation (Nasdaq: WTFC) will release its Q3 and year-to-date 2022 earnings results on October 18, 2022, after market close. A conference call is scheduled for October 19, 2022, at 10:00 a.m. (CDT) for investors to discuss the results with management. Participants can register for the call or listen via an audio-only webcast. Wintrust is a $51 billion asset financial holding company providing community banking and various non-bank services, focusing on technology and customer service.
Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.34 per share of common stock, payable on August 25, 2022 to shareholders of record as of August 11, 2022. Additionally, dividends on the Company’s preferred stock, 6.50% Series D and 6.875% Series E, are set to be paid on October 15, 2022, to shareholders recorded by October 1, 2022. Wintrust operates with assets around $51 billion and focuses on community banking across over 170 locations in Chicago and southern Wisconsin.