Wintrust Announces Minimum Wage Increase

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.

Rhea-AI Summary

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.

Positive

• Increase in minimum wage to $18 per hour signals commitment to employee welfare.
• Investment in workforce could enhance employee satisfaction and retention.

Negative

• None.

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ROSEMONT, Ill., July 13, 2022 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (Wintrust) (Nasdaq: WTFC) today announced that the company will increase the minimum wage paid to eligible non-commission hourly employees to $18 per hour effective August 1, 2022.

Edward J. Wehmer, Founder and CEO of Wintrust, commented, “We are proud to make this investment in the people who provide such exceptional service to our customers and the communities we serve. Our growth, success, and recent accolades are a direct reflection of their hard work and dedication.”

About Wintrust

Wintrust is a financial holding company with assets of approximately $50 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the “HAVE IT ALL” model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units, including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.

FOR MORE INFORMATION CONTACT:

Edward J. Wehmer, Founder & Chief Executive Officer
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000

 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new minimum wage for Wintrust Financial Corporation employees?

The new minimum wage for eligible non-commission hourly employees at Wintrust Financial Corporation will be $18 per hour, effective August 1, 2022.

When will the wage increase take effect for Wintrust employees?

The wage increase to $18 per hour will take effect on August 1, 2022.

What is the market capitalization of Wintrust Financial Corporation?

Wintrust Financial Corporation has approximately $50 billion in assets.

How many banking locations does Wintrust operate?

Wintrust operates over 170 banking locations across the greater Chicago and southern Wisconsin market areas.

What is the ticker symbol for Wintrust Financial Corporation?

The ticker symbol for Wintrust Financial Corporation is WTFC.