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.
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.
Wintrust Financial Corporation (WTFC) reported a net income of $94.5 million or $1.49 per diluted share for Q2 2022, a 28% decrease from Q1 2022. For the first half of 2022, net income totaled $221.9 million compared to $258.3 million in the same period last year. Total loans, excluding PPP loans, increased by $1.9 billion (22% annualized), and net interest income rose by $38.5 million. However, mortgage banking revenue saw a sharp decline to $33.3 million from $77.2 million in Q1. The allowance for credit losses increased to 1.31% of the loan portfolio.
Wintrust Financial Corporation (Nasdaq: WTFC) announced an increase in the minimum wage for eligible non-commission hourly employees to $18 per hour, effective August 1, 2022. This initiative reflects Wintrust's commitment to investing in its workforce, which the CEO, Edward J. Wehmer, attributes to the company's growth and success. Wintrust is a financial holding company with approximately $50 billion in assets and operates 15 community bank subsidiaries across the greater Chicago and southern Wisconsin areas.
Wintrust Financial Corporation (Nasdaq: WTFC) will release its second quarter and year-to-date 2022 earnings results on July 20, 2022. A conference call is scheduled for July 21, 2022, at 10:00 a.m. CDT, allowing participants to engage with management. Those interested can register for participation through a provided link. An audio-only webcast will also be available. With $50 billion in assets, Wintrust focuses on community banking while offering a range of financial services, including insurance financing and mortgage origination.
Wintrust Financial Corporation (NASDAQ: WTFC) announced the pricing of its underwritten public offering of 3,000,000 shares at $86.00 per share. The offering is expected to close on June 10, 2022, subject to customary conditions. Wintrust anticipates net proceeds of approximately $248.4 million, intended for general corporate purposes. The underwriters have a 30-day option to purchase an additional 450,000 shares. RBC Capital Markets and Raymond James & Associates are joint book-running managers for the offering.