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Wintrust Financial (Nasdaq: WTFC) posts record $227M Q1 profit

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Wintrust Financial Corporation reported record first-quarter 2026 results. Net income reached $227.4 million, or $3.22 per diluted share, up from $223.0 million, or $3.15, in the prior quarter and 20% higher than a year earlier.

Total loans grew to $54.1 billion and deposits to $58.9 billion, both up about 7–8% annualized from the prior quarter. Net interest income was $579.0 million with a net interest margin of 3.54% (3.56% fully tax-equivalent), modestly higher than the fourth quarter. Non-interest income rose to $134.1 million, helped by stronger wealth management and mortgage banking revenue.

Asset quality remained solid. Net charge-offs were $18.4 million, or 0.14% of average loans annualized, down from 0.17% in the prior quarter. Non-performing loans were $182.7 million, 0.34% of total loans, while the allowance for credit losses increased to $471.6 million. Return on average assets was 1.32% and return on average common equity was 12.76%, reflecting strong profitability.

Positive

  • Record profitability: Net income of $227.4 million and diluted EPS of $3.22 set a new quarterly high, with net income up 20% year over year and return on average common equity reaching 12.76%.
  • Strong balance sheet growth: Total loans rose to $54.1 billion and deposits to $58.9 billion, each growing at mid–to–high single-digit annualized rates versus Q4 2025, while maintaining a disciplined loans-to-deposits ratio of 91.8%.
  • Solid asset quality: Net charge-offs fell to $18.4 million (0.14% of average loans annualized) and non-performing assets declined to $200.2 million, 0.28% of total assets, alongside a higher $471.6 million credit loss allowance.

Negative

  • None.

Insights

Record earnings, broad-based growth and stable credit quality make this quarter clearly strong.

Wintrust delivered record quarterly net income of $227.4 million, with diluted EPS of $3.22. Net revenue rose to $713.2 million, up 11% year over year, as both loans and deposits expanded and net interest margin ticked higher to 3.54%.

Balance sheet growth was healthy: total loans increased to $54.1 billion and deposits to $58.9 billion, each up roughly high single digits annualized vs. Q4 2025. Non-interest income of $134.1 million also improved, driven by wealth management revenue of $42.1 million and mortgage banking revenue of $23.4 million.

Credit metrics remain a key support. Net charge-offs were just $18.4 million (0.14% of average loans annualized) and non-performing assets were $200.2 million, only 0.28% of total assets. The allowance for credit losses increased to $471.6 million, or 0.87% of loans, providing a buffer against macro uncertainty noted by management.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income $227.4M Q1 2026; record quarterly net income
Diluted EPS $3.22 Q1 2026 earnings per diluted common share
Net revenue $713.2M Q1 2026; up 11% vs Q1 2025
Net interest income $579.0M Q1 2026; down slightly from Q4 2025 due to fewer days
Net interest margin 3.54% Q1 2026 GAAP net interest margin
Total loans $54.1B Period-end balance at March 31, 2026
Total deposits $58.9B Period-end balance at March 31, 2026
Net charge-offs $18.4M (0.14%) Q1 2026; percentage of average total loans annualized
net interest margin financial
"Net interest margin was 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2026"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
provision for credit losses financial
"Provision for credit losses totaled $29.6 million in the first quarter of 2026"
Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.
non-performing assets financial
"Non-performing assets totaled $200.2 million and comprised 0.28% of total assets as of March 31, 2026"
Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.
pre-tax, pre-provision income financial
"Pre-tax, pre-provision income (non-GAAP) for the first quarter of 2026 totaled a record $330.5 million"
Pre-tax, pre-provision income is a measure of a financial firm's earnings before deducting taxes and the money it sets aside to cover potential loan losses. Think of it as the company’s operating profit before accounting for future bad debts and taxes; like a shop’s sales minus running costs but before any emergency savings for damaged goods. Investors use it to see core profitability and to compare operating performance across periods or firms without the noise of loan-loss reserves and tax effects.
tangible common equity ratio financial
"Tangible common equity ratio (non-GAAP) was 8.5% as of March 31, 2026"
Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.
mortgage banking revenue financial
"Mortgage banking revenue totaled $23.4 million in the first quarter of 2026"
Net revenue $713.2M +11% YoY
Net income $227.4M +20% YoY
Diluted EPS $3.22 +20% YoY
Net interest margin 3.54% Flat vs Q1 2025

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did Wintrust Financial (WTFC) perform financially in Q1 2026?
Wintrust Financial reported record Q1 2026 net income of $227.4 million, up from $223.0 million in Q4 2025 and $189.0 million a year earlier. Diluted EPS was $3.22, driven by higher net revenue, strong loan and deposit growth, and stable margins.

How strong was Wintrust Financial (WTFC)’s net interest income and margin in Q1 2026?
Net interest income was $579.0 million, slightly below Q4 2025 mainly due to two fewer calendar days, while average earning assets grew. Net interest margin improved to 3.54% (or 3.56% fully taxable-equivalent), supported by lower funding costs on interest-bearing deposits.

What does the Q1 2026 filing show about Wintrust Financial (WTFC)’s credit quality?
Credit quality appeared strong, with net charge-offs of $18.4 million, or 0.14% of average loans annualized, down from 0.17% in Q4 2025. Non-performing loans were $182.7 million (0.34% of total loans), and the allowance for credit losses increased to $471.6 million.

How did non-interest income contribute to Wintrust Financial (WTFC)’s Q1 2026 results?
Non-interest income totaled $134.1 million, up from $130.4 million in Q4 2025. Wealth management revenue rose to $42.1 million and mortgage banking revenue to $23.4 million. These recurring fee businesses complemented net interest income and supported overall record profitability.

What were Wintrust Financial (WTFC)’s capital and return metrics in Q1 2026?
Return on average assets was 1.32%, while return on average common equity was 12.76% and return on average tangible common equity 14.89%. The tangible common equity ratio stood at 8.5%, and book value per common share was $103.10 at quarter-end.
0001015328false00010153282026-04-202026-04-200001015328us-gaap:CommonStockMember2026-04-202026-04-200001015328wtfc:DepositorySharesSeriesFPreferredStockMember2026-04-202026-04-20

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 20, 2026
 
WINTRUST FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
 
Illinois001-35077 36-3873352
(State or other jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer
Identification No.)
9700 W. Higgins Road, Suite 800
RosemontIllinois 60018
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (847) 939-9000
Not Applicable
(Former name or former address, if changed since last year)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of Each Class Ticker SymbolName of Each Exchange on Which Registered
Common Stock, no par value WTFCThe Nasdaq Global Select Market
Depositary Shares, Each Representing a 1/1,000th Interest in a Share of
WTFCNThe Nasdaq Global Select Market
7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F, no par value

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐
    
    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐


Item 2.02. Results of Operations and Financial Condition
The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
On April 20, 2026, Wintrust Financial Corporation (the “Company”) announced earnings for the first quarter of 2026 and posted on its website the First Quarter 2026 Earnings Release Presentation. Copies of the press release relating to the Company’s earnings results and the related presentation are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively. Certain supplemental information relating to non-GAAP financial measures reported in the attached press release and presentation is included on pages 31 through 33 of Exhibit 99.1 and pages 28 through 31 of Exhibit 99.2.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
 
Exhibit
  
99.1
First Quarter 2026 Earnings Release dated April 20, 2026
99.2
First Quarter 2026 Earnings Release Presentation dated April 20, 2026
2

Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
WINTRUST FINANCIAL CORPORATION
(Registrant)
By:/s/ David L. Stoehr
 David L. Stoehr
Executive Vice President and
    Chief Financial Officer
Date: April 20, 2026
3

INDEX TO EXHIBITS
 
Exhibit
  
99.1
First Quarter 2026 Earnings Release dated April 20, 2026
99.2
First Quarter 2026 Earnings Release Presentation dated April 20, 2026

4


Exhibit 99.1
Wintrust Financial Corporation
9700 W. Higgins Road, Suite 800, Rosemont, Illinois 60018
News Release
FOR IMMEDIATE RELEASE  April 20, 2026
FOR MORE INFORMATION CONTACT:
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000
Amy Yuhn, Executive Vice President, Communications
(847) 939-9591
Web site address: www.wintrust.com

Wintrust Financial Corporation Reports Record Quarterly Net Income

ROSEMONT, ILLINOIS – Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced record net income of $227.4 million, or $3.22 per diluted common share, for the first quarter of 2026 compared to net income of $223.0 million, or $3.15 per diluted common share for the fourth quarter of 2025. Pre-tax, pre-provision income (non-GAAP) for the first quarter of 2026 totaled a record $330.5 million, as compared to $329.8 million for the fourth quarter of 2025.

Timothy S. Crane, President and Chief Executive Officer, commented, “We are pleased with our first quarter 2026 results, with diversified loan growth, robust deposit generation and prudent expense management resulting in a fifth consecutive quarter of record net income. Our multi-faceted business model and unique market position continued to build franchise value.”

Additionally, Mr. Crane noted, “Net interest margin in the first quarter remained within our expected range, improving by two basis points to 3.56%. Strong loan growth, coupled with a stable net interest margin supported solid net interest income levels in the first quarter of 2026. Our disciplined approach to underwriting led to strong credit quality with low levels of net charge-offs and non-performing loans.”

Highlights of the first quarter of 2026:
Comparative information to the fourth quarter of 2025, unless otherwise noted

•Total loans increased by $1.0 billion, or 7% annualized.
•Total deposits increased by $1.2 billion, or 8% annualized.
•Total assets increased by $1.0 billion, or 6% annualized.
•Net interest margin increased to 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2026.
◦Net interest income decreased to $579.0 million in the first quarter of 2026, compared to $583.9 million in the fourth quarter of 2025, primarily due to two fewer calendar days in the first quarter, partially offset by average earning asset growth during the quarter.    
•Provision for credit losses totaled $29.6 million in the first quarter of 2026, compared to a provision for credit losses of $27.6 million in the fourth quarter of 2025.
•Net charge-offs totaled $18.4 million, or 14 basis points of average total loans on an annualized basis, in the first quarter of 2026 down from $21.8 million, or 17 basis points of average total loans on an annualized basis, in the fourth quarter of 2025.
•Non-performing loans totaled $182.7 million and comprised 0.34% of total loans at March 31, 2026, as compared to $185.8 million and 0.35% of total loans at December 31, 2025.

“Our first quarter performance reflected the efficient execution of our strategic priorities to deliver our differentiated customer experience, deliver disciplined and strategic growth and build the foundation for our future”, Mr. Crane said. “We believe the continued momentum in our financial results has us well-positioned for the remainder of 2026. We expect sustained balance


sheet growth, as we manage our expenses while investing appropriately in our businesses, to create consistent value for our shareholders.”


* * *









































The graphs shown on pages 3-7 illustrate certain financial highlights of the first quarter of 2026 as well as historical financial performance. See “Supplemental Non-GAAP Financial Measures/Ratios” at Table 17 for additional information with respect to non-GAAP financial measures/ratios, including the reconciliations to the corresponding GAAP financial measures/ratios.
2

chart-1a8cddfd59c449cc846a.jpgchart-8c642b80c1054b9f987a.jpg
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chart-fbcf37bdf1714619b08a.jpgchart-23d5f647ed2a47a6999a.jpg
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chart-4571b2e692d740b9950a.jpgchart-672f45d607df492592aa.jpg
5

chart-db1d2e90cc2a43ba9f3a.jpgchart-c37540c4f76c4aceaada.jpg*On May 22, 2025, the Company completed the issuance of $425 million of Series F Preferred Stock. The issuance was in contemplation of redeeming $412.5 million of Series D and Series E Preferred Stock that was expected to reprice at rates higher than existing market rates. The Series D and Series E Preferred Stock were redeemed on July 15, 2025.
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chart-cff9561bfc69446a805a.jpgchart-5cae3fbc620d4c06b7ca.jpg



7

SUMMARY OF RESULTS:

BALANCE SHEET

Total assets increased $1.0 billion in the first quarter of 2026 compared to the fourth quarter of 2025, driven by a $1.0 billion increase in total loans. The increase in loans was broad-based with growth across most major loan categories.

Total liabilities increased by $0.9 billion in the first quarter of 2026 compared to the fourth quarter of 2025, driven by a $1.2 billion increase in total deposits. Robust organic deposit growth in the first quarter of 2026 was driven by our diverse deposit product offerings. Non-interest bearing deposit balances represented 20% of total deposits and average non-interest bearing deposit balances have remained stable in recent quarters. The Company's loans-to-deposits ratio ended the quarter at 91.8%.

For more information regarding changes in the Company’s balance sheet, see Consolidated Statements of Condition and Table 1 through Table 3 in this report.

NET INTEREST INCOME

For the first quarter of 2026, net interest income totaled $579.0 million, a decrease of $4.9 million compared to the fourth quarter of 2025. The decrease in net interest income in the first quarter of 2026 was driven by two fewer calendar days in the quarter, partially offset by average earning asset growth during the quarter.

Net interest margin was 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2026, up two basis points compared to the fourth quarter of 2025, benefiting from two fewer calendar days in the calendar. The yield on earning assets declined 10 basis points during the first quarter of 2026 primarily due to a 13 basis point decrease in loan yields. Funding cost on interest-bearing deposits decreased by 16 basis points compared to the fourth quarter of 2025, which more than offset the reduction in loan yields. The net free funds contribution in the first quarter of 2026 declined four basis points compared to the fourth quarter of 2025.

For more information regarding net interest income, see Table 4 through Table 7 in this report.

ASSET QUALITY

The allowance for credit losses totaled $471.6 million as of March 31, 2026, an increase from $460.5 million as of December 31, 2025. A provision for credit losses totaling $29.6 million was recorded for the first quarter of 2026 compared to $27.6 million recorded in the fourth quarter of 2025. The provision for credit losses recognized in the first quarter of 2026 reflects stable credit quality and a mostly stable macroeconomic forecast. However, given future economic performance remains uncertain, model results capture uncertainty related to credit spreads and equity market valuations. For more information regarding the allowance for credit losses and provision for credit losses, see Table 10 in this report.

Management believes the allowance for credit losses is appropriate to account for expected credit losses. The Company is required to estimate expected credit losses over the life of the Company’s financial assets as of the reporting date. There can be no assurances, however, that future losses will not significantly exceed the amounts provided for, thereby affecting future results of operations. A summary of the allowance for credit losses calculated for the loan components in each portfolio as of March 31, 2026, December 31, 2025, and September 30, 2025 is shown on Table 11 of this report.

Net charge-offs totaled $18.4 million in the first quarter of 2026, a decrease of $3.4 million compared to $21.8 million of net charge-offs in the fourth quarter of 2025. Net charge-offs as a percentage of average total loans were 14 basis points in the first quarter of 2026 on an annualized basis compared to 17 basis points on an annualized basis in the fourth quarter of 2025. For more information regarding net charge-offs, see Table 9 in this report.

The Company’s loan portfolio delinquency rates remain low and manageable. For more information regarding past due loans, see Table 12 in this report.

Non-performing assets and non-performing loans were stable compared to prior quarter. Non-performing assets totaled $200.2 million and comprised 0.28% of total assets as of March 31, 2026, as compared to $206.6 million, or 0.29% of total assets, as of December 31, 2025. Non-performing loans totaled $182.7 million and comprised 0.34% of total loans at March 31, 2026, as compared to $185.8 million and 0.35% of total loans at December 31, 2025. For more information regarding non-performing assets, see Table 13 in this report.

8

NON-INTEREST INCOME

Non-interest income totaled $134.1 million in the first quarter of 2026, increasing $3.7 million, compared to $130.4 million in the fourth quarter of 2025.

Wealth management revenue increased by approximately $2.7 million in the first quarter of 2026, compared to the fourth quarter of 2025. The increase in the first quarter of 2026 was primarily driven by the increase in trust and asset management revenue. Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company and Great Lakes Advisors, the brokerage commissions, managed money fees and insurance product commissions at Wintrust Investments and fees from tax-deferred like-kind exchange services provided by the Chicago Deferred Exchange Company.

Mortgage banking revenue totaled $23.4 million in the first quarter of 2026, compared to $22.6 million in the fourth quarter of 2025. The increase in the first quarter of 2026 was primarily attributed to higher production revenue. For more information regarding mortgage banking revenue, see Table 15 in this report.

The Company recognized approximately $31,000 in net losses on investment securities in the first quarter of 2026 compared to approximately $1.5 million in net gains in the fourth quarter of 2025. The net losses in the first quarter of 2026 were primarily the result of unrealized losses on the Company’s equity investment securities with a readily determinable fair value.

For more information regarding non-interest income, see Table 14 in this report.

NON-INTEREST EXPENSE

Non-interest expense totaled $382.6 million in the first quarter of 2026, decreasing $1.9 million, compared to $384.5 million in the fourth quarter of 2025. Non-interest expense, as a percent of average assets, remained stable at 2.21% in the first quarter of 2026.

Salaries and employee benefits expense increased by approximately $5.9 million in the first quarter of 2026, compared to the fourth quarter of 2025. This was primarily driven by an increase in base salaries as annual merit increases go into effect in the first quarter.

The Company recorded net OREO expense of $207,000 in the first quarter of 2026, compared to net OREO expense of $2.2 million in the fourth quarter of 2025. The primary driver of the decrease in the first quarter can be attributed to valuation adjustments in the fourth quarter of 2025. Net OREO expenses include all costs associated with obtaining, maintaining and selling other real estate owned properties as well as valuation adjustments.

Advertising and marketing expenses in the first quarter of 2026 totaled $13.2 million, which was a $574,000 decrease as compared to the fourth quarter of 2025. Marketing costs are incurred to promote the Company’s brand, commercial banking capabilities and the Company’s various products, to attract loans and deposits and to announce new branch openings as well as the expansion of the Company’s non-bank businesses. The level of marketing expenditures depends on the timing of sponsorship programs utilized which are determined based on the market area, targeted audience, competition and various other factors. Generally, these expenses are elevated in the second and third quarters of each year.

Travel and entertainment expense decreased approximately $2.5 million in the first quarter of 2026, compared to the fourth quarter of 2025. The decrease is primarily attributed to seasonal corporate events that occur in the fourth quarter.

For more information regarding non-interest expense, see Table 16 in this report.

INCOME TAXES

The Company recorded income tax expense of $73.6 million in the first quarter of 2026 compared to $79.2 million in the fourth quarter of 2025. The effective tax rates were 24.4% in the first quarter of 2026 compared to 26.2% in the fourth quarter of 2025. The effective tax rates were impacted by the tax effects related to share-based compensation which fluctuate based on the Company’s stock price and timing of employee stock option exercises and vesting of other share-based awards. The Company recorded net excess tax benefits of $6.6 million in the first quarter of 2026, compared to net excess tax benefits of $70,000 in the fourth quarter of 2025 related to share-based compensation.

9

BUSINESS SUMMARY

Community Banking

Through community banking, the Company provides banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the local areas the Company services. In the first quarter of 2026, community banking increased its commercial, commercial real estate and residential real estate loan portfolios.

Mortgage banking revenue was $23.4 million for the first quarter of 2026, an increase of $771,000 compared to the fourth quarter of 2025. See Table 15 for more detail. Service charges on deposit accounts totaled $21.0 million in the first quarter of 2026 as compared to $20.4 million in the fourth quarter of 2025. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of March 31, 2026 indicating momentum for expected continued loan growth in the second quarter of 2026.

Specialty Finance

Through specialty finance, the Company offers financing of insurance premiums for businesses and individuals, equipment financing through structured loans and lease products to customers in a variety of industries, accounts receivable financing and value-added, out-sourced administrative services and other services. Originations within the insurance premium financing receivables portfolios were $5.1 billion during the first quarter of 2026. Average balances decreased by $81.0 million, as compared to the fourth quarter of 2025. The Company’s leasing divisions’ portfolio balances increased in the first quarter of 2026, with capital leases, loans, and equipment on operating leases of $3.0 billion, $1.2 billion, and $362.8 million as of March 31, 2026, respectively, compared to $2.9 billion, $1.2 billion, and $360.6 million as of December 31, 2025, respectively. Revenues from the Company’s out-sourced administrative services business were $1.2 million in the first quarter of 2026, which was relatively stable compared to the fourth quarter of 2025.

Wealth Management

Through wealth management, the Company offers a full range of wealth management services, including trust and investment services, tax-deferred like-kind exchange services, asset management, and securities brokerage services. Wealth management revenue totaled $42.1 million in the first quarter of 2026, an increase as compared to the fourth quarter of 2025. At March 31, 2026, the Company’s wealth management subsidiaries had approximately $45.9 billion of assets under administration, which excludes assets owned by the Company and its subsidiary banks.

10

WINTRUST FINANCIAL CORPORATION
Key Operating Measures

Wintrust’s key operating measures and growth rates for the first quarter of 2026, as compared to the fourth quarter of 2025 (sequential quarter) and first quarter of 2025 (linked quarter), are shown in the table below:
% or (1)
basis point  (bp) change from
4th Quarter
2025
% or
basis point  (bp) change from
1st Quarter
2025
  
Three Months Ended
(Dollars in thousands, except per share data)Mar 31, 2026Dec 31, 2025Mar 31, 2025
Net income$227,388 $223,024 $189,039 2 % 20 % 
Pre-tax income, excluding provision for credit losses (non-GAAP) (2)
330,534 329,811 277,018 0 19 
Net income per common share – Diluted3.22 3.15 2.69 2 20 
Cash dividends declared per common share0.55 0.50 0.50 10 10 
Net revenue (3)
713,166 714,264 643,108 0 11 
Net interest income579,024 583,874 526,474 (1)10 
Net interest margin3.54 %3.52 %3.54 %2 bps— bps
Net interest margin – fully taxable-equivalent (non-GAAP)(2)
3.56 3.54 3.56 2 — 
Net overhead ratio (4)
1.44 1.45 1.58 (1)(14)
Return on average assets1.32 1.27 1.20 5 12 
Return on average common equity12.76 12.63 12.21 13 55 
Return on average tangible common equity (non-GAAP) (2)
14.89 14.83 14.72 6 17 
At end of period
Total assets$72,157,433$71,142,046$65,870,0666 % 10 % 
Total loans (5)
54,071,29253,105,10148,708,3907 11 
Total deposits58,914,38257,717,19153,570,0388 10 
Total shareholders’ equity7,378,1007,258,7156,600,5377 12 
(1)Period-end balance sheet percentage changes are annualized.
(2)See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(3)Net revenue is net interest income plus non-interest income.
(4)The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
(5)Excludes mortgage loans held-for-sale.
Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. This is done for analytical purposes to better discern, for decision-making purposes, underlying performance trends when compared to full-year or year-over-year amounts. For example, a 5% growth rate for a quarter would represent an annualized 20% growth rate.

11

WINTRUST FINANCIAL CORPORATION
Selected Financial Highlights
 Three Months Ended
(Dollars in thousands, except per share data)Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025
Selected Financial Condition Data (at end of period):
Total assets$72,157,433$71,142,046$69,629,638$68,983,318$65,870,066
Total loans (1)
54,071,29253,105,10152,063,48251,041,67948,708,390
Total deposits58,914,38257,717,19156,711,38155,816,81153,570,038
Total shareholders’ equity7,378,1007,258,7157,045,7577,225,6966,600,537
Selected Statements of Income Data:
Net interest income$579,024 $583,874 $567,010 $546,694 $526,474 
Net revenue (2)
713,166 714,264 697,837 670,783 643,108 
Net income227,388 223,024 216,254 195,527 189,039 
Pre-tax income, excluding provision for credit losses (non-GAAP) (3)
330,534 329,811 317,809 289,322 277,018 
Net income per common share – Basic3.26 3.21 2.82 2.82 2.73 
Net income per common share – Diluted3.22 3.15 2.78 2.78 2.69 
Cash dividends declared per common share0.55 0.50 0.50 0.50 0.50 
Selected Financial Ratios and Other Data:
Performance Ratios:
Net interest margin 3.54 %3.52 %3.48 %3.52 %3.54 %
Net interest margin – fully taxable-equivalent (non-GAAP) (3)
3.56 3.54 3.50 3.54 3.56 
Non-interest income to average assets0.78 0.74 0.76 0.76 0.74 
Non-interest expense to average assets2.21 2.19 2.21 2.32 2.32 
Net overhead ratio (4)
1.44 1.45 1.45 1.57 1.58 
Return on average assets1.32 1.27 1.26 1.19 1.20 
Return on average common equity12.76 12.63 11.58 12.07 12.21 
Return on average tangible common equity (non-GAAP) (3)
14.89 14.83 13.74 14.44 14.72 
Average total assets$70,089,123 $69,492,268 $68,303,036 $65,840,345 $64,107,042 
Average total shareholders’ equity7,387,713 7,166,608 6,955,543 6,862,040 6,460,941 
Average loans to average deposits ratio 93.1 %92.4 %92.5 %93.0 %92.3 %
Period-end loans to deposits ratio 91.8 92.0 91.8 91.4 90.9 
Common Share Data at end of period:
Market price per common share$138.94 $139.82 $132.44 $123.98 $112.46 
Book value per common share103.10 102.03 98.87 95.43 92.47 
Tangible book value per common share (non-GAAP) (3)
89.90 88.66 85.39 81.86 78.83 
Common shares outstanding67,437,30066,974,91366,961,20966,937,73266,919,325
Other Data at end of period:
Common equity to assets ratio9.6 %9.6 %9.5 %9.3 %9.4 %
Tangible common equity ratio (non-GAAP) (3)
8.5 8.5 8.3 8.0 8.1 
Tier 1 leverage ratio (5)
9.8 9.6 9.5 10.2 9.6 
Risk-based capital ratios:
Tier 1 capital ratio (5)
11.1 11.0 10.9 11.5 10.8 
Common equity tier 1 capital ratio (5)
10.4 10.3 10.2 10.0 10.1 
Total capital ratio (5)
12.5 12.4 12.4 13.0 12.5 
Allowance for credit losses (6)
$471,591 $460,465 $454,586 $457,461 $448,387 
Allowance for loan and unfunded lending-related commitment losses to total loans0.87 %0.87 %0.87 %0.90 %0.92 %
Number of:
Bank subsidiaries16 16 16 16 16 
Banking offices209 209 208 208 208 
(1)Excludes mortgage loans held-for-sale.
(2)Net revenue is net interest income plus non-interest income.
(3)See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(4)The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
(5)Capital ratios for current quarter-end are estimated.
(6)The allowance for credit losses includes the allowance for loan losses, the allowance for unfunded lending-related commitments and the allowance for held-to-maturity securities losses.


12

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION
 
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(In thousands)20262025202520252025
Assets
Cash and due from banks$543,654 $467,874 $565,406 $695,501 $616,216 
Federal funds sold and securities purchased under resale agreements65 64 63 63 63 
Interest-bearing deposits with banks3,051,665 3,180,553 3,422,452 4,569,618 4,238,237 
Available-for-sale securities, at fair value7,244,282 6,236,263 5,274,124 4,885,715 4,220,305 
Held-to-maturity securities, at amortized cost3,270,207 3,343,905 3,438,406 3,502,186 3,564,490 
Equity securities with readily determinable fair value63,786 63,770 63,445 273,722 270,442 
Federal Home Loan Bank and Federal Reserve Bank stock292,044 291,881 282,755 282,087 281,893 
Mortgage loans held-for-sale, at fair value383,405 340,745 333,883 299,606 316,804 
Loans, net of unearned income54,071,292 53,105,101 52,063,482 51,041,679 48,708,390 
Allowance for loan losses(390,651)(379,283)(386,622)(391,654)(378,207)
Net loans53,680,641 52,725,818 51,676,860 50,650,025 48,330,183 
Premises, software and equipment, net777,603 781,611 775,425 776,324 776,679 
Lease investments, net362,766 360,646 301,000 289,768 280,472 
Accrued interest receivable and other assets1,596,617 1,617,682 1,614,674 1,610,025 1,598,255 
Receivable on unsettled securities sales— 835,275 978,209 240,039 463,023 
Goodwill797,658 797,960 797,639 798,144 796,932 
Other acquisition-related intangible assets93,040 97,999 105,297 110,495 116,072 
Total assets$72,157,433 $71,142,046 $69,629,638 $68,983,318 $65,870,066 
Liabilities and Shareholders’ Equity
Deposits:
Non-interest-bearing$12,112,891 $11,423,701 $10,952,146 $10,877,166 $11,201,859 
Interest-bearing46,801,491 46,293,490 45,759,235 44,939,645 42,368,179 
Total deposits58,914,382 57,717,191 56,711,381 55,816,811 53,570,038 
Federal Home Loan Bank advances3,451,309 3,451,309 3,151,309 3,151,309 3,151,309 
Other borrowings340,647 477,966 579,328 625,392 529,269 
Subordinated notes298,717 298,636 298,536 298,458 298,360 
Junior subordinated debentures253,566 253,566 253,566 253,566 253,566 
Payable on unsettled securities purchases— — — 39,105 — 
Accrued interest payable and other liabilities1,520,712 1,684,663 1,589,761 1,572,981 1,466,987 
Total liabilities64,779,333 63,883,331 62,583,881 61,757,622 59,269,529 
Shareholders’ Equity:
Preferred stock425,000 425,000 425,000 837,500 412,500 
Common stock67,525 67,062 67,042 67,025 67,007 
Surplus2,546,792 2,534,024 2,521,306 2,495,637 2,494,347 
Treasury stock(13,970)(9,156)(9,150)(9,156)(9,156)
Retained earnings4,719,561 4,537,539 4,356,367 4,200,923 4,045,854 
Accumulated other comprehensive loss(366,808)(295,754)(314,808)(366,233)(410,015)
Total shareholders’ equity7,378,100 7,258,715 7,045,757 7,225,696 6,600,537 
Total liabilities and shareholders’ equity$72,157,433 $71,142,046 $69,629,638 $68,983,318 $65,870,066 
13

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months Ended
(Dollars in thousands, except per share data)Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025
Interest income
Interest and fees on loans$797,889 $822,494 $832,140 $797,997 $768,362 
Mortgage loans held-for-sale4,615 5,607 4,757 4,872 4,246 
Interest-bearing deposits with banks19,150 27,190 34,992 34,317 36,766 
Federal funds sold and securities purchased under resale agreements64 77 75 276 179 
Investment securities100,278 95,461 86,426 78,053 72,016 
Trading account securities— — — — 11 
Federal Home Loan Bank and Federal Reserve Bank stock5,564 5,497 5,444 5,393 5,307 
Brokerage customer receivables— — — — 78 
Total interest income927,560 956,326 963,834 920,908 886,965 
Interest expense
Interest on deposits309,187 332,178 355,846 333,470 320,233 
Interest on Federal Home Loan Bank advances27,701 26,408 26,007 25,724 25,441 
Interest on other borrowings4,026 5,956 6,887 6,957 6,792 
Interest on subordinated notes3,719 3,737 3,717 3,735 3,714 
Interest on junior subordinated debentures3,903 4,173 4,367 4,328 4,311 
Total interest expense348,536 372,452 396,824 374,214 360,491 
Net interest income579,024 583,874 567,010 546,694 526,474 
Provision for credit losses29,594 27,588 21,768 22,234 23,963 
Net interest income after provision for credit losses549,430 556,286 545,242 524,460 502,511 
Non-interest income
Wealth management42,059 39,365 37,188 36,821 34,042 
Mortgage banking23,396 22,625 24,451 23,170 20,529 
Service charges on deposit accounts20,970 20,402 19,825 19,502 19,362 
(Losses) gains on investment securities, net(31)1,505 2,972 650 3,196 
Fees from covered call options4,669 5,992 5,619 5,624 3,446 
Trading gains (losses), net10 (257)172 151 (64)
Operating lease income, net19,154 16,365 15,466 15,166 15,287 
Other23,915 24,393 25,134 23,005 20,836 
Total non-interest income134,142 130,390 130,827 124,089 116,634 
Non-interest expense
Salaries and employee benefits228,447 222,557 219,668 219,541 211,526 
Software and equipment35,654 36,096 35,027 36,522 34,717 
Operating lease equipment10,987 11,034 10,409 10,757 10,471 
Occupancy, net20,566 20,105 20,809 20,228 20,778 
Data processing11,266 11,809 11,329 12,110 11,274 
Advertising and marketing13,218 13,792 19,027 18,761 12,272 
Professional fees7,375 8,280 7,465 9,243 9,044 
Amortization of other acquisition-related intangible assets4,958 4,999 5,196 5,580 5,618 
FDIC insurance10,990 10,562 11,418 10,971 10,926 
Other real estate owned (“OREO”) expenses, net207 2,162 262 505 643 
Other38,964 43,057 39,418 37,243 38,821 
Total non-interest expense382,632 384,453 380,028 381,461 366,090 
Income before taxes300,940 302,223 296,041 267,088 253,055 
Income tax expense73,552 79,199 79,787 71,561 64,016 
Net income$227,388 $223,024 $216,254 $195,527 $189,039 
Preferred stock dividends8,367 8,367 13,295 6,991 6,991 
Preferred stock redemption— — 14,046 — — 
Net income applicable to common shares$219,021 $214,657 $188,913 $188,536 $182,048 
Net income per common share - Basic$3.26 $3.21 $2.82 $2.82 $2.73 
Net income per common share - Diluted$3.22 $3.15 $2.78 $2.78 $2.69 
Cash dividends declared per common share$0.55 $0.50 $0.50 $0.50 $0.50 
Weighted average common shares outstanding67,24666,97066,95266,93166,726
Dilutive potential common shares851 1,143 1,028 888 923 
Average common shares and dilutive common shares68,097 68,113 67,980 67,819 67,649 
14

TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES

   
% Growth From (1)
(Dollars in thousands)Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30,
2025		Mar 31, 2025
Dec 31,
2025 (2)
Mar 31, 2025
Balance:
Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies$249,350 $217,136 $211,360 $192,633 $181,580 60 %37 %
Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies134,055 123,609 122,523 106,973 135,224 34 (1)
Total mortgage loans held-for-sale$383,405 $340,745 $333,883 $299,606 $316,804 51 %21 %
Core loans:
Commercial
Commercial and industrial$7,620,239 $7,267,505 $7,135,083 $7,028,247 $6,871,206 20 %11 %
Asset-based lending1,558,089 1,512,888 1,588,522 1,663,693 1,701,962 12 (8)
Municipal839,633 868,958 804,986 771,785 798,646 (14)5 
Leases3,002,014 2,921,366 2,834,563 2,757,331 2,680,943 11 12 
Commercial real estate
Residential construction53,097 54,753 60,923 59,027 55,849 (12)(5)
Commercial construction1,959,375 2,013,244 2,273,545 2,165,263 2,086,797 (11)(6)
Land311,470 341,585 323,685 304,827 306,235 (36)2 
Office1,652,482 1,688,614 1,578,208 1,601,208 1,641,555 (9)1 
Industrial3,323,977 3,167,768 2,912,547 2,824,889 2,677,555 20 24 
Retail1,469,658 1,436,252 1,478,861 1,452,351 1,402,837 9 5 
Multi-family3,565,419 3,445,507 3,306,597 3,200,578 3,091,314 14 15 
Mixed use and other1,826,808 1,793,013 1,684,841 1,683,867 1,652,759 8 11 
Home equity471,264 480,525 484,202 466,815 455,683 (8)3 
Residential real estate
Residential real estate loans for investment4,319,941 4,171,439 4,019,046 3,814,715 3,561,417 14 21 
Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies83,036 84,706 75,088 80,800 86,952 (8)(5)
Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies62,189 61,087 49,736 53,267 36,790 769 
Total core loans$32,118,691 $31,309,210 $30,610,433 $29,928,663 $29,108,500 10 %10 %
Niche loans:
Commercial
Franchise$1,293,639 $1,298,493 $1,298,140 $1,286,265 $1,262,555 (2)%2 %
Mortgage warehouse lines of credit1,800,972 1,515,003 1,204,661 1,232,530 1,019,543 77 77
Community Advantage - homeowners association526,274 532,027 537,696 526,595 525,492 (4)— 
Insurance agency lending1,122,361 1,128,446 1,140,691 1,120,985 1,070,979 (2)5 
Premium Finance receivables
U.S. property & casualty insurance7,127,234 7,308,054 7,502,901 7,378,340 6,486,663 (10)10 
Canada property & casualty insurance763,097 875,362 863,391 944,836 753,199 (52)1 
Life insurance9,196,382 9,023,642 8,758,553 8,506,960 8,365,140 8 10 
Consumer and other122,642 114,864 147,016 116,505 116,319 27 5 
Total niche loans$21,952,601 $21,795,891 $21,453,049 $21,113,016 $19,599,890 3 %12 %
Total loans, net of unearned income$54,071,292 $53,105,101 $52,063,482 $51,041,679 $48,708,390 7 %11 %
(1)NM - Not Meaningful.
(2)Annualized.

15

TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES

    % Growth From
(Dollars in thousands)Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025
Dec 31,
2025 (1)
Mar 31, 2025
Balance:
Non-interest-bearing$12,112,891$11,423,701$10,952,146$10,877,166$11,201,85924 %8 %
NOW and interest-bearing demand deposits5,987,2586,233,7536,710,9196,795,7256,340,168(16)(6)
Wealth management deposits (2)
1,670,6201,907,6471,600,7351,595,7641,408,790(50)19 
Money market21,714,26721,368,92420,270,38219,556,04118,074,7337 20 
Savings6,942,5656,905,2166,758,7436,659,4196,576,2512 6 
Time certificates of deposit10,486,7819,877,95010,418,45610,332,6969,968,23725 5 
Total deposits $58,914,382$57,717,191$56,711,381$55,816,811$53,570,0388 %10 %
Mix:
Non-interest-bearing20 %20 %19 %19 %21 %
NOW and interest-bearing demand deposits10 11 12 12 12 
Wealth management deposits (2)
3 3 3 3 3 
Money market37 37 36 35 34 
Savings12 12 12 12 12 
Time certificates of deposit18 17 18 19 18 
Total deposits100 %100 %100 %100 %100 %
(1)Annualized.
(2)Represents deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), and trust and asset management customers of the Company.

TABLE 3: TIME CERTIFICATES OF DEPOSIT MATURITY/RE-PRICING ANALYSIS
As of March 31, 2026
(Dollars in thousands)Total Time
Certificates of
Deposit		Weighted-Average
Rate of Maturing
Time Certificates
    of Deposit
1-3 months$2,650,966 3.45 %
4-6 months5,018,880 3.51 
7-9 months1,589,764 3.37 
10-12 months822,123 3.40 
13-18 months243,686 2.88 
19-24 months70,182 2.85 
24+ months91,180 2.72 
Total$10,486,781 3.44 %


16

TABLE 4: QUARTERLY AVERAGE BALANCES

 Average Balance for three months ended,
 Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(In thousands)20262025202520252025
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$2,247,083 $2,842,829 $3,276,683 $3,308,199 $3,520,048 
Investment securities (2)
10,616,617 10,084,138 9,377,930 8,801,560 8,409,735 
FHLB and FRB stock (3)
291,972 284,643 282,338 282,001 281,702 
Liquidity management assets (4)
$13,155,672 $13,211,610 $12,936,951 $12,391,760 $12,211,485 
Other earning assets (4) (5)
— — — — 13,140 
Mortgage loans held-for-sale317,047 357,672 295,365 310,534 286,710 
Loans, net of unearned income (4) (6)
52,845,685 52,193,637 51,403,566 49,517,635 47,833,380 
Total earning assets (4)
$66,318,404 $65,762,919 $64,635,882 $62,219,929 $60,344,715 
Allowance for loan and investment security losses(391,810)(404,075)(410,681)(398,685)(375,371)
Cash and due from banks534,189 517,616 495,292 478,707 476,423 
Other assets3,628,340 3,615,808 3,582,543 3,540,394 3,661,275 
Total assets
$70,089,123 $69,492,268 $68,303,036 $65,840,345 $64,107,042 
NOW and interest-bearing demand deposits$6,081,218 $6,133,333 $6,687,292 $6,423,050 $6,046,189 
Wealth management deposits1,858,560 1,925,808 1,604,142 1,552,989 1,574,480 
Money market accounts21,156,125 20,475,659 19,431,021 18,184,754 17,581,141 
Savings accounts6,921,251 6,814,263 6,723,325 6,578,698 6,479,444 
Time deposits9,782,112 10,045,136 10,319,719 9,841,702 9,406,126 
Interest-bearing deposits$45,799,266 $45,394,199 $44,765,499 $42,581,193 $41,087,380 
FHLB advances (3)
3,451,312 3,203,483 3,151,310 3,151,310 3,151,309 
Other borrowings442,200 547,507 614,892 593,657 582,139 
Subordinated notes298,661 298,576 298,481 298,398 298,306 
Junior subordinated debentures253,566 253,566 253,566 253,566 253,566 
Total interest-bearing liabilities
$50,245,005 $49,697,331 $49,083,748 $46,878,124 $45,372,700 
Non-interest-bearing deposits10,963,887 11,080,254 10,791,709 10,643,798 10,732,156 
Other liabilities1,492,518 1,548,075 1,472,036 1,456,383 1,541,245 
Equity7,387,713 7,166,608 6,955,543 6,862,040 6,460,941 
Total liabilities and shareholders’ equity
$70,089,123 $69,492,268 $68,303,036 $65,840,345 $64,107,042 
Net free funds/contribution (7)
$16,073,399 $16,065,588 $15,552,134 $15,341,805 $14,972,015 
(1)Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
(2)Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.
(3)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)
(4)See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(5)Other earning assets include brokerage customer receivables and trading account securities.
(6)Loans, net of unearned income, include non-accrual loans.
(7)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

17

TABLE 5: QUARTERLY NET INTEREST INCOME

 Net Interest Income for three months ended,
 Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(In thousands)20262025202520252025
Interest income:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents$19,214 $27,267 $35,067 $34,593 $36,945 
Investment securities100,864 96,122 87,101 78,733 72,706 
FHLB and FRB stock (1)
5,564 5,497 5,444 5,393 5,307 
Liquidity management assets (2)
$125,642 $128,886 $127,612 $118,719 $114,958 
Other earning assets (2)
— — — — 92 
Mortgage loans held-for-sale4,615 5,607 4,757 4,872 4,246 
Loans, net of unearned income (2)
799,915 824,628 834,294 800,197 770,568 
Total interest income$930,172 $959,121 $966,663 $923,788 $889,864 
Interest expense:
NOW and interest-bearing demand deposits$29,666 $31,681 $40,448 $37,517 $33,600 
Wealth management deposits8,941 10,011 8,415 8,182 8,606 
Money market accounts155,299 163,585 169,831 155,890 146,374 
Savings accounts30,672 34,371 38,844 37,637 35,923 
Time deposits84,609 92,530 98,308 94,244 95,730 
Interest-bearing deposits$309,187 $332,178 $355,846 $333,470 $320,233 
FHLB advances (1)
27,701 26,408 26,007 25,724 25,441 
Other borrowings4,026 5,956 6,887 6,957 6,792 
Subordinated notes3,719 3,737 3,717 3,735 3,714 
Junior subordinated debentures3,903 4,173 4,367 4,328 4,311 
Total interest expense$348,536 $372,452 $396,824 $374,214 $360,491 
Less: Fully taxable-equivalent adjustment(2,612)(2,795)(2,829)(2,880)(2,899)
Net interest income (GAAP) (3)
579,024 583,874 567,010 546,694 526,474 
Fully taxable-equivalent adjustment2,612 2,795 2,829 2,880 2,899 
Net interest income, fully taxable-equivalent (non-GAAP) (3)
$581,636 $586,669 $569,839 $549,574 $529,373 
(1)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)
(2)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.
(3)See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

18

TABLE 6: QUARTERLY NET INTEREST MARGIN

 Net Interest Margin for three months ended,
Mar 31, 2026Dec 31, 2025Sep 30,
2025		Jun 30, 2025Mar 31,
2025
Yield earned on:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents3.47 %3.81 %4.25 %4.19 %4.26 %
Investment securities3.85 3.78 3.68 3.59 3.51 
FHLB and FRB stock (1)
7.73 7.66 7.65 7.67 7.64 
Liquidity management assets3.87 %3.87 %3.91 %3.84 %3.82 %
Other earning assets— — — — 2.84 
Mortgage loans held-for-sale5.90 6.22 6.39 6.29 6.01 
Loans, net of unearned income6.14 6.27 6.44 6.48 6.53 
Total earning assets5.69 %5.79 %5.93 %5.96 %5.98 %
Rate paid on:
NOW and interest-bearing demand deposits1.98 %2.05 %2.40 %2.34 %2.25 %
Wealth management deposits1.95 2.06 2.08 2.11 2.22 
Money market accounts2.98 3.17 3.47 3.44 3.38 
Savings accounts1.80 2.00 2.29 2.29 2.25 
Time deposits3.51 3.65 3.78 3.84 4.13 
Interest-bearing deposits2.74 %2.90 %3.15 %3.14 %3.16 %
FHLB advances3.26 3.27 3.27 3.27 3.27 
Other borrowings3.69 4.32 4.44 4.70 4.73 
Subordinated notes5.05 4.97 4.94 5.02 5.05 
Junior subordinated debentures6.24 6.53 6.83 6.85 6.90 
Total interest-bearing liabilities2.81 %2.97 %3.21 %3.20 %3.22 %
Interest rate spread (2) (3)
2.88 %2.82 %2.72 %2.76 %2.76 %
Less: Fully taxable-equivalent adjustment(0.02)(0.02)(0.02)(0.02)(0.02)
Net free funds/contribution (4)
0.68 0.72 0.78 0.78 0.80 
Net interest margin (GAAP) (3)
3.54 %3.52 %3.48 %3.52 %3.54 %
Fully taxable-equivalent adjustment0.02 0.02 0.02 0.02 0.02 
Net interest margin, fully taxable-equivalent (non-GAAP) (3)
3.56 %3.54 %3.50 %3.54 %3.56 %
(1)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)
(2)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
(3)See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(4)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.




19

TABLE 7: INTEREST RATE SENSITIVITY

As an ongoing part of its financial strategy, the Company attempts to manage the impact of fluctuations in market interest rates on net interest income. Management measures its exposure to changes in interest rates by modeling many different interest rate scenarios.

The following interest rate scenarios display the percentage change in net interest income over a one-year time horizon assuming increases and decreases of 100 and 200 basis points as compared to projected net interest income in a scenario with no assumed rate changes. The Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet. Conversely, the Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months. Actual results may differ from these simulated results due to timing, magnitude, and frequency of interest rate changes as well as changes in market conditions and management strategies. The interest rate sensitivity for both the Static Shock and Ramp Scenario is as follows:

Static Shock Scenario+200 Basis Points+100 Basis Points-100 Basis Points-200 Basis Points
Mar 31, 2026(0.8)%(0.1)%(1.0)%(1.9)%
Dec 31, 2025(1.6)(0.5)(0.5)(0.8)
Sep 30, 2025(2.3)(0.8)0.0 (0.4)
Jun 30, 2025(1.5)(0.4)(0.2)(1.2)
Mar 31, 2025(1.8)(0.6)(0.2)(1.2)

Ramp Scenario+200 Basis Points+100 Basis Points-100 Basis Points-200 Basis Points
Mar 31, 2026(0.1)%0.0 %(0.1)%(0.3)%
Dec 31, 2025(0.0)0.1 (0.1)(0.2)
Sep 30, 2025(0.2)(0.1)0.1 (0.1)
Jun 30, 20250.0 0.0 (0.1)(0.4)
Mar 31, 20250.2 0.2 (0.1)(0.5)

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. Management has taken action to reposition its sensitivity to interest rates to stabilize net interest margin following the rise in short term interest rates in 2022 and 2023. To this end, management has executed various derivative instruments including collars, floors and receive-fixed swaps to hedge variable-rate loan exposures. The Company will continue to monitor current and projected interest rates and may execute additional derivatives to mitigate potential fluctuations in the net interest margin in future periods.
20

TABLE 8: MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES

Loans repricing or contractual maturity period
As of March 31, 2026One year or
less		From one to
five years		From five to fifteen yearsAfter fifteen yearsTotal
(In thousands)
Commercial
Fixed rate$521,142 $4,062,342 $2,182,827 $19,916 $6,786,227 
Variable rate10,975,702 1,292 — — 10,976,994 
Total commercial$11,496,844 $4,063,634 $2,182,827 $19,916 $17,763,221 
Commercial real estate
Fixed rate$860,484 $2,648,718 $345,954 $71,217 $3,926,373 
Variable rate10,225,429 10,419 65 — 10,235,913 
Total commercial real estate$11,085,913 $2,659,137 $346,019 $71,217 $14,162,286 
Home equity
Fixed rate$9,160 $1,141 $— $8 $10,309 
Variable rate460,955 — — — 460,955 
Total home equity$470,115 $1,141 $— $8 $471,264 
Residential real estate
Fixed rate$20,050 $4,549 $68,021 $1,052,334 $1,144,954 
Variable rate126,191 776,281 2,417,740 — 3,320,212 
Total residential real estate$146,241 $780,830 $2,485,761 $1,052,334 $4,465,166 
Premium finance receivables - property & casualty
Fixed rate$7,762,445 $127,886 $— $— $7,890,331 
Variable rate— — — — — 
Total premium finance receivables - property & casualty$7,762,445 $127,886 $— $— $7,890,331 
Premium finance receivables - life insurance
Fixed rate$55,951 $88,566 $— $— $144,517 
Variable rate9,051,865 — — — 9,051,865 
Total premium finance receivables - life insurance$9,107,816 $88,566 $— $— $9,196,382 
Consumer and other
Fixed rate$29,654 $8,473 $857 $842 $39,826 
Variable rate82,816 — — — 82,816 
Total consumer and other$112,470 $8,473 $857 $842 $122,642 
Total per category
Fixed rate$9,258,886 $6,941,675 $2,597,659 $1,144,317 $19,942,537 
Variable rate30,922,958 787,992 2,417,805 — 34,128,755 
Total loans, net of unearned income$40,181,844 $7,729,667 $5,015,464 $1,144,317 $54,071,292 
Less: Existing cash flow hedging derivatives (1)
(5,900,000)
Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity$34,281,844 
Variable Rate Loan Pricing by Index:
SOFR tenors (2)
$22,224,818 
12- month CMT (3)
7,992,586 
Prime3,011,508 
Fed Funds625,005 
Other U.S. Treasury tenors175,047 
Other99,791 
Total variable rate$34,128,755 
(1)Excludes cash flow hedges with future effective starting dates and those that have matured as of March 31, 2026. The $5.90 billion of cash flow hedging derivatives includes receive fixed swaps, collars and floors of which $4.95 billion were impacting the cash flows of loans indexed to one-month SOFR as of March 31, 2026.
(2)SOFR - Secured Overnight Financing Rate.
(3)CMT - Constant Maturity Treasury Rate.




21


chart-2511a8e0e3364392937a.jpg
3/31/20254/30/20255/31/20256/30/20257/31/20258/31/20259/30/202510/31/202511/30/202512/31/20251/31/20262/28/20263/31/2026
1M SOFR4.324.324.324.324.354.274.134.003.863.693.673.673.66
12M CMT4.033.854.113.964.103.833.683.703.613.483.483.483.68
Prime7.507.507.507.507.507.507.257.007.006.756.756.756.75
Source: Bloomberg

As noted in the table on the previous page, the majority of the Company’s portfolio is tied to SOFR and CMT indices which, as shown in the table above, do not mirror the same changes as the Prime rate, which has historically moved when the Federal Reserve raises or lowers interest rates. Specifically, the Company has variable rate loans of $19.5 billion tied to one-month SOFR and $8.0 billion tied to twelve-month CMT. The above chart shows:

Basis Point (bp) Change in
1-month
SOFR		12- month CMTPrime
First Quarter 2026(3)bps20bps—bps
Fourth Quarter 2025(44)(20)(50)
Third Quarter 2025(19)(28)(25)
Second Quarter 2025—(7)—
First Quarter 2025(1)(13)—


22

TABLE 9: ALLOWANCE FOR CREDIT LOSSES

Three Months Ended
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars in thousands)20262025202520252025
Allowance for credit losses at beginning of period$460,465 $454,586 $457,461 $448,387 $437,060 
Provision for credit losses - Other29,594 27,588 21,768 22,234 23,963 
Other adjustments(50)71 (88)180 4 
Charge-offs:
Commercial8,428 12,894 21,597 6,148 9,722 
Commercial real estate7,260 5,625 144 5,711 454 
Home equity— — 27 111 — 
Residential real estate350 — 26 — — 
Premium finance receivables - property & casualty7,431 8,354 6,860 6,346 7,114 
Premium finance receivables - life insurance— — 18 — 12 
Consumer and other180 203 174 179 147 
Total charge-offs23,649 27,076 28,846 18,495 17,449 
Recoveries:
Commercial1,419 956 1,449 1,746 929 
Commercial real estate6 4 241 10 12 
Home equity303 28 104 30 216 
Residential real estate1 1 1 2 136 
Premium finance receivables - property & casualty3,437 4,275 2,459 3,335 3,487 
Premium finance receivables - life insurance— — — — — 
Consumer and other65 32 37 32 29 
Total recoveries5,231 5,296 4,291 5,155 4,809 
Net charge-offs(18,418)(21,780)(24,555)(13,340)(12,640)
Allowance for credit losses at period end$471,591 $460,465 $454,586 $457,461 $448,387 
Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
Commercial0.17 %0.29 %0.49 %0.11 %0.23 %
Commercial real estate0.21 0.16 (0.00)0.17 0.01 
Home equity(0.26)(0.02)(0.06)0.07 (0.20)
Residential real estate0.03 (0.00)0.00 (0.00)(0.02)
Premium finance receivables - property & casualty0.20 0.20 0.20 0.16 0.20 
Premium finance receivables - life insurance— — 0.00 — 0.00 
Consumer and other0.35 0.47 0.40 0.44 0.45 
Total loans, net of unearned income0.14 %0.17 %0.19 %0.11 %0.11 %
Loans at period end$54,071,292 $53,105,101 $52,063,482 $51,041,679 $48,708,390 
Allowance for loan losses as a percentage of loans at period end0.72 %0.71 %0.74 %0.77 %0.78 %
Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end0.87 0.87 0.87 0.90 0.92 
PCD - Purchase Credit Deteriorated

23

TABLE 10: ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT

Three Months Ended
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(In thousands)20262025202520252025
Provision for loan losses - Other$29,836 $14,369 $19,610 $26,607 $26,826 
Provision for unfunded lending-related commitments losses - Other(239)13,354 2,160 (4,325)(2,852)
Provision for held-to-maturity securities losses(3)(135)(2)(48)(11)
Provision for credit losses$29,594 $27,588 $21,768 $22,234 $23,963 
Allowance for loan losses$390,651 $379,283 $386,622 $391,654 $378,207 
Allowance for unfunded lending-related commitments losses80,683 80,922 67,569 65,409 69,734 
Allowance for loan losses and unfunded lending-related commitments losses471,334 460,205 454,191 457,063 447,941 
Allowance for held-to-maturity securities losses257 260 395 398 446 
Allowance for credit losses$471,591 $460,465 $454,586 $457,461 $448,387 
PCD - Purchase Credit Deteriorated    

TABLE 11: ALLOWANCE BY LOAN PORTFOLIO

The table below summarizes the calculation of allowance for loan losses and allowance for unfunded lending-related commitments losses for the Company’s loan portfolios as well as core and niche portfolios, as of March 31, 2026, December 31, 2025 and September 30, 2025.
 As of Mar 31, 2026As of Dec 31, 2025As of Sep 30, 2025
(Dollars in thousands)Recorded
Investment		Calculated
Allowance		% of its
category’s balance		Recorded
Investment		Calculated
Allowance		% of its
category’s balance		Recorded
Investment		Calculated
Allowance		% of its
category’s balance
Commercial$17,763,221 $210,959 1.19 %$17,044,686 $178,545 1.05 %$16,544,342 $189,476 1.15 %
Commercial real estate:
Construction and development2,323,942 74,092 3.19 2,409,582 93,106 3.86 2,658,153 78,765 2.96 
Non-construction11,838,344 150,778 1.27 11,531,154 153,827 1.33 10,961,054 151,712 1.38 
Total commercial real estate$14,162,286 $224,870 1.59 %$13,940,736 $246,933 1.77 %$13,619,207 $230,477 1.69 %
Total commercial and commercial real estate$31,925,507 $435,829 1.37 %$30,985,422 $425,478 1.37 %$30,163,549 $419,953 1.39 %
Home equity471,264 10,213 2.17 480,525 10,402 2.16 484,202 9,229 1.91 
Residential real estate4,465,166 13,081 0.29 4,317,232 12,519 0.29 4,143,870 12,013 0.29 
Premium finance receivables - property & casualty7,890,331 10,591 0.13 8,183,416 10,226 0.12 8,366,292 11,187 0.13 
Premium finance receivables - life insurance9,196,382 800 0.01 9,023,642 785 0.01 8,758,553 762 0.01 
Consumer and other122,642 820 0.67 114,864 795 0.69 147,016 1,047 0.71 
Total loans, net of unearned income$54,071,292 $471,334 0.87 %$53,105,101 $460,205 0.87 %$52,063,482 $454,191 0.87 %
Total core loans (1)
$32,118,691 $408,892 1.27 %$31,309,210 $412,714 1.32 %$30,610,433 $408,780 1.34 %
Total niche loans (1)
21,952,601 62,442 0.28 21,795,891 47,491 0.22 21,453,049 45,411 0.21 
(1)See Table 1 for additional detail on core and niche loans.


24

TABLE 12: LOAN PORTFOLIO AGING

(In thousands)Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025
Loan Balances:
Commercial
Nonaccrual$87,750 $78,059 $66,577 $80,877 $70,560 
90+ days and still accruing— — — — 46 
60-89 days past due9,996 22,952 12,190 34,855 15,243 
30-59 days past due90,389 90,205 36,136 45,103 97,397 
Current17,575,086 16,853,470 16,429,439 16,226,596 15,748,080 
Total commercial$17,763,221 $17,044,686 $16,544,342 $16,387,431 $15,931,326 
Commercial real estate
Nonaccrual$16,757 $25,147 $28,202 $32,828 $26,187 
90+ days and still accruing— — — — — 
60-89 days past due17,133 19,529 14,119 11,257 6,995 
30-59 days past due54,143 65,601 83,055 51,173 83,653 
Current14,074,253 13,830,459 13,493,831 13,196,752 12,798,066 
Total commercial real estate$14,162,286 $13,940,736 $13,619,207 $13,292,010 $12,914,901 
Home equity
Nonaccrual$1,142 $1,221 $1,295 $1,780 $2,070 
90+ days and still accruing— — — — — 
60-89 days past due463 1,112 246 138 984 
30-59 days past due2,012 2,818 2,294 2,971 3,403 
Current467,647 475,374 480,367 461,926 449,226 
Total home equity$471,264 $480,525 $484,202 $466,815 $455,683 
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies (1)
$145,225 $145,793 $124,824 $134,067 $123,742 
Nonaccrual27,360 32,862 28,942 28,047 22,522 
90+ days and still accruing— — — — — 
60-89 days past due129 7,562 8,829 8,954 1,351 
30-59 days past due30,854 24,908 95 38 38,943 
Current4,261,598 4,106,107 3,981,180 3,777,676 3,498,601 
Total residential real estate$4,465,166 $4,317,232 $4,143,870 $3,948,782 $3,685,159 
Premium finance receivables - property & casualty
Nonaccrual$33,891 $29,354 $24,512 $30,404 $29,846 
90+ days and still accruing15,823 19,115 13,006 14,350 18,081 
60-89 days past due16,188 29,294 23,527 25,641 19,717 
30-59 days past due47,936 57,685 38,133 29,460 39,459 
Current7,776,493 8,047,968 8,267,114 8,223,321 7,132,759 
Total Premium finance receivables - property & casualty$7,890,331 $8,183,416 $8,366,292 $8,323,176 $7,239,862 
Premium finance receivables - life insurance
Nonaccrual$— $— $— $— $— 
90+ days and still accruing— — — 327 2,962 
60-89 days past due22,690 13,887 34,016 11,202 10,587 
30-59 days past due58,760 22,806 34,506 34,403 29,924 
Current9,114,932 8,986,949 8,690,031 8,461,028 8,321,667 
Total Premium finance receivables - life insurance$9,196,382 $9,023,642 $8,758,553 $8,506,960 $8,365,140 
Consumer and other
Nonaccrual$16 $8 $38 $41 $18 
90+ days and still accruing10 42 60 184 98 
60-89 days past due130 466 49 61 162 
30-59 days past due230 643 159 175 542 
Current122,256 113,705 146,710 116,044 115,499 
Total consumer and other$122,642 $114,864 $147,016 $116,505 $116,319 
Total loans, net of unearned income
Early buy-out loans guaranteed by U.S. government agencies (1)
$145,225 $145,793 $124,824 $134,067 $123,742 
Nonaccrual166,916 166,651 149,566 173,977 151,203 
90+ days and still accruing15,833 19,157 13,066 14,861 21,187 
60-89 days past due66,729 94,802 92,976 92,108 55,039 
30-59 days past due284,324 264,666 194,378 163,323 293,321 
Current53,392,265 52,414,032 51,488,672 50,463,343 48,063,898 
Total loans, net of unearned income$54,071,292 $53,105,101 $52,063,482 $51,041,679 $48,708,390 
(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.
25

TABLE 13: NON-PERFORMING ASSETS (1)
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars in thousands)20262025202520252025
Loans past due greater than 90 days and still accruing:
Commercial$— $— $— $— $46 
Commercial real estate— — — — — 
Home equity— — — — — 
Residential real estate— — — — — 
Premium finance receivables - property & casualty15,823 19,115 13,006 14,350 18,081 
Premium finance receivables - life insurance— — — 327 2,962 
Consumer and other10 42 60 184 98 
Total loans past due greater than 90 days and still accruing15,833 19,157 13,066 14,861 21,187 
Non-accrual loans:
Commercial87,750 78,059 66,577 80,877 70,560 
Commercial real estate16,757 25,147 28,202 32,828 26,187 
Home equity1,142 1,221 1,295 1,780 2,070 
Residential real estate27,360 32,862 28,942 28,047 22,522 
Premium finance receivables - property & casualty33,891 29,354 24,512 30,404 29,846 
Premium finance receivables - life insurance— — — — — 
Consumer and other16 8 38 41 18 
Total non-accrual loans166,916 166,651 149,566 173,977 151,203 
Total non-performing loans:
Commercial87,750 78,059 66,577 80,877 70,606 
Commercial real estate16,757 25,147 28,202 32,828 26,187 
Home equity1,142 1,221 1,295 1,780 2,070 
Residential real estate27,360 32,862 28,942 28,047 22,522 
Premium finance receivables - property & casualty49,714 48,469 37,518 44,754 47,927 
Premium finance receivables - life insurance— — — 327 2,962 
Consumer and other26 50 98 225 116 
Total non-performing loans$182,749 $185,808 $162,632 $188,838 $172,390 
Other real estate owned17,439 20,839 24,832 23,615 22,625 
Total non-performing assets$200,188 $206,647 $187,464 $212,453 $195,015 
Total non-performing loans by category as a percent of its own respective category’s period-end balance:
Commercial0.49 %0.46 %0.40 %0.49 %0.44 %
Commercial real estate0.12 0.18 0.21 0.25 0.20 
Home equity0.24 0.25 0.27 0.38 0.45 
Residential real estate0.61 0.76 0.70 0.71 0.61 
Premium finance receivables - property & casualty0.63 0.59 0.45 0.54 0.66 
Premium finance receivables - life insurance— — — 0.00 0.04 
Consumer and other0.02 0.04 0.07 0.19 0.10 
Total loans, net of unearned income0.34 %0.35 %0.31 %0.37 %0.35 %
Total non-performing assets as a percentage of total assets0.28 %0.29 %0.27 %0.31 %0.30 %
Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans282.38 %276.15 %303.67 %262.71 %296.25 %
(1)Excludes early buy-out loans guaranteed by U.S. government agencies. Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.


26

Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies
 Three Months Ended
 Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(In thousands)20262025202520252025
Balance at beginning of period$185,808 $162,632 $188,838 $172,390 $170,823 
Additions from becoming non-performing in the respective period24,969 46,198 34,805 48,651 27,721 
Return to performing status(3,663)(2,937)(3,399)(6,896)(1,207)
Payments received(13,780)(13,734)(28,052)(5,602)(15,965)
Transfer to OREO or other assets(868)(286)(348)(2,247)— 
Charge-offs, net(10,930)(16,998)(21,526)(11,734)(8,600)
Net change for premium finance receivables1,213 10,933 (7,686)(5,724)(382)
Balance at end of period$182,749 $185,808 $162,632 $188,838 $172,390 


Other Real Estate Owned
 Three Months Ended
 Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(In thousands)20262025202520252025
Balance at beginning of period$20,839 $24,832 $23,615 $22,625 $23,116 
Disposals/resolved(4,760)(2,141)— — — 
Transfers in at fair value, less costs to sell1,360 — 1,217 1,315 — 
Fair value adjustments— (1,852)— (325)(491)
Balance at end of period$17,439 $20,839 $24,832 $23,615 $22,625 
 Period End
(In thousands)Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
Balance by Property Type:20262025202520252025
Residential real estate$— $— $— $— $— 
Commercial real estate17,439 20,839 24,832 23,615 22,625 
Total$17,439 $20,839 $24,832 $23,615 $22,625 
    
27

TABLE 14: NON-INTEREST INCOME

Three Months Ended
Q1 2026 compared to
Q4 2025
Q1 2026 compared to
Q1 2025
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars in thousands)20262025202520252025$ Change% Change$ Change% Change
Brokerage$5,301 $5,384 $4,426 $4,212 $4,757 $(83)(2)%$544 11 %
Trust and asset management36,758 33,981 32,762 32,609 29,285 2,777 8 7,473 26 
Total wealth management42,059 39,365 37,188 36,821 34,042 2,694 7 8,017 24 
Mortgage banking23,396 22,625 24,451 23,170 20,529 771 3 2,867 14 
Service charges on deposit accounts20,970 20,402 19,825 19,502 19,362 568 3 1,608 8 
(Losses) gains on investment securities, net(31)1,505 2,972 650 3,196 (1,536)NM(3,227)NM
Fees from covered call options4,669 5,992 5,619 5,624 3,446 (1,323)(22)1,223 35
Trading gains (losses), net10 (257)172 151 (64)267 NM74 NM
Operating lease income, net19,154 16,365 15,466 15,166 15,287 2,789 17 3,867 25 
Other:
Interest rate swap fees4,041 4,664 3,909 3,010 2,269 (623)(13)1,772 78 
BOLI948 1,915 1,591 2,257 796 (967)(50)152 19 
Administrative services1,243 1,352 1,240 1,315 1,393 (109)(8)(150)(11)
Foreign currency remeasurement (losses) gains(368)322 (416)658 (183)(690)NM(185)NM
Changes in fair value on EBOs and loans held-for-investment(287)(1,702)1,452 172 383 1,415 83 (670)NM
Early pay-offs of capital leases1,198 581 519 400 768 617 NM430 56 
Miscellaneous17,140 17,261 16,839 15,193 15,410 (121)(1)1,730 11 
Total Other23,915 24,393 25,134 23,005 20,836 (478)(2)3,079 15 
Total Non-Interest Income$134,142 $130,390 $130,827 $124,089 $116,634 $3,752 3 %$17,508 15 %
NM - Not meaningful.
BOLI - Bank-owned life insurance.
EBO - Early buy-out.
28

TABLE 15: MORTGAGE BANKING

Three Months Ended
(Dollars in thousands)Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025
Originations:
Retail originations$441,749 $589,139 $505,793 $523,759 $348,468 
Veterans First originations152,244 208,054 137,600 157,787 111,985 
Total originations for sale (A)$593,993 $797,193 $643,393 $681,546 $460,453 
Originations for investment371,540 364,988 351,012 422,926 217,177 
Total originations$965,533 $1,162,181 $994,405 $1,104,472 $677,630 
As a percentage of originations for sale:
Retail originations74 %74 %79 %77 %76 %
Veterans First originations26 26 21 23 24 
Purchases52 %52 %77 %74 %77 %
Refinances48 48 23 26 23 
Production Margin:
Production revenue (B) (1)
$13,028 $10,878 $15,388 $13,380 $9,941 
Total originations for sale (A)$593,993 $797,193 $643,393 $681,546 $460,453 
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)
218,156 122,804 307,932 163,664 197,297 
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)
122,804 307,932 163,664 197,297 103,946 
Total mortgage production volume (C)$689,345 $612,065 $787,661 $647,913 $553,804 
Production margin (B / C)1.89 %1.78 %1.95 %2.07 %1.80 %
Mortgage Servicing:
Loans serviced for others (D)$12,534,513$12,608,694$12,524,131$12,470,924$12,402,352
Mortgage Servicing Rights (“MSR”), at fair value (E)195,276195,023190,938193,061196,307
Percentage of MSRs to loans serviced for others (E / D)1.56 %1.55 %1.52 %1.55 %1.58 %
Servicing income$10,353 $10,185 $10,112 $10,520 $10,611 
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period$195,023 $190,938 $193,061 $196,307 $203,788 
MSR - current period capitalization6,434 9,150 5,829 6,336 4,669 
MSR - collection of expected cash flows - paydowns(1,620)(1,550)(1,554)(1,516)(1,590)
MSR - collection of expected cash flows - payoffs and repurchases(5,021)(6,250)(4,050)(4,100)(3,046)
MSR - changes in fair value model assumptions460 2,735 (2,348)(3,966)(7,514)
MSR Fair Value at end of period$195,276 $195,023 $190,938 $193,061 $196,307 
Summary of Mortgage Banking Revenue:
Operational:
Production revenue (1)
$13,028 $10,878 $15,388 $13,380 $9,941 
MSR - Current period capitalization6,434 9,150 5,829 6,336 4,669 
MSR - Collection of expected cash flows - paydowns(1,620)(1,550)(1,554)(1,516)(1,590)
MSR - Collection of expected cash flows - payoffs and repurchases(5,021)(6,250)(4,050)(4,100)(3,046)
Servicing Income10,353 10,185 10,112 10,520 10,611 
Other Revenue(45)(17)(345)(79)(172)
Total operational mortgage banking revenue$23,129 $22,396 $25,380 $24,541 $20,413 
Fair Value:
MSR - changes in fair value model assumptions$460 $2,735 $(2,348)$(3,966)$(7,514)
(Loss) gain on derivative contract held as an economic hedge, net(900)(2,425)265 2,535 4,897 
Changes in FV on early buy-out loans guaranteed by US Govt held-for-sale707 (81)1,154 60 2,733 
     Total fair value mortgage banking revenue$267 $229 $(929)$(1,371)$116 
Total mortgage banking revenue$23,396 $22,625 $24,451 $23,170 $20,529 
(1)Production revenue represents revenue earned from the origination and subsequent sale of mortgages, including gains on loans sold and fees from originations, changes in other related financial instruments carried at fair value, processing and other related activities, and excludes servicing fees, changes in the fair value of servicing rights and changes to the mortgage recourse obligation and other non-production revenue.
(2)Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.


29

TABLE 16: NON-INTEREST EXPENSE

Three Months Ended
Q1 2026 compared to
Q4 2025
Q1 2026 compared to
Q1 2025
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars in thousands)20262025202520252025$ Change% Change$ Change% Change
Salaries and employee benefits:
Salaries$129,086 $124,856 $124,623 $123,174 $123,917 $4,230 3 %$5,169 4 %
Commissions and incentive compensation57,407 57,117 56,244 55,871 52,536 290 1 4,871 9 
Benefits41,954 40,584 38,801 40,496 35,073 1,370 3 6,881 20 
Total salaries and employee benefits228,447 222,557 219,668 219,541 211,526 5,890 3 16,921 8 
Software and equipment35,654 36,096 35,027 36,522 34,717 (442)(1)937 3 
Operating lease equipment10,987 11,034 10,409 10,757 10,471 (47)(0)516 5 
Occupancy, net20,566 20,105 20,809 20,228 20,778 461 2 (212)(1)
Data processing11,266 11,809 11,329 12,110 11,274 (543)(5)(8)(0)
Advertising and marketing13,218 13,792 19,027 18,761 12,272 (574)(4)946 8 
Professional fees7,375 8,280 7,465 9,243 9,044 (905)(11)(1,669)(18)
Amortization of other acquisition-related intangible assets4,958 4,999 5,196 5,580 5,618 (41)(1)(660)(12)
FDIC insurance10,990 11,061 11,418 10,971 10,926 (71)(1)64 1 
FDIC insurance - special assessment— (499)— — — 499 (100)— — 
OREO expense, net207 2,162 262 505 643 (1,955)(90)(436)(68)
Other:
Lending expenses, net of deferred origination costs6,510 6,367 6,169 4,869 5,866 143 2 644 11 
Travel and entertainment5,426 7,965 6,029 6,026 5,270 (2,539)(32)156 3 
Miscellaneous27,028 28,725 27,220 26,348 27,685 (1,697)(6)(657)(2)
Total other38,964 43,057 39,418 37,243 38,821 (4,093)(10)143 0 
Total Non-Interest Expense$382,632 $384,453 $380,028 $381,461 $366,090 $(1,821)(0)%$16,542 5 %
NM - Not meaningful.
30

TABLE 17: SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES/RATIOS

The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. These include taxable-equivalent net interest income (including its individual components), taxable-equivalent net interest margin (including its individual components), the taxable-equivalent efficiency ratio, tangible common equity ratio, tangible book value per common share, return on average tangible common equity, and pre-tax income, excluding provision for credit losses. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company’s interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

Management reviews yields on certain asset categories and the net interest margin of the Company and its banking subsidiaries on a fully taxable-equivalent basis (“FTE”). In this non-GAAP presentation, net interest income is adjusted to reflect tax-exempt interest income on an equivalent before-tax basis using tax rates effective as of the end of the period. This measure ensures comparability of net interest income arising from both taxable and tax-exempt sources. Net interest income on a FTE basis is also used in the calculation of the Company’s efficiency ratio. The efficiency ratio, which is calculated by dividing non-interest expense by total taxable-equivalent net revenue (less securities gains or losses), measures how much it costs to produce one dollar of revenue. Securities gains or losses are excluded from this calculation to better match revenue from daily operations to operational expenses. Management considers the tangible common equity ratio and tangible book value per common share as useful measurements of the Company’s equity. The Company references the return on average tangible common equity as a measurement of profitability. Management considers pre-tax income, excluding provision for credit losses, as a useful measurement of the Company’s core net income.
Three Months Ended
 Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars and shares in thousands)20262025202520252025
Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
(A) Interest Income (GAAP)$927,560 $956,326 $963,834 $920,908 $886,965 
Taxable-equivalent adjustment:
 - Loans
2,026 2,134 2,154 2,200 2,206 
 - Liquidity Management Assets586 661 675 680 690 
 - Other Earning Assets— — — — 3 
(B) Interest Income (non-GAAP)$930,172 $959,121 $966,663 $923,788 $889,864 
(C) Interest Expense (GAAP)348,536 372,452 396,824 374,214 360,491 
(D) Net Interest Income (GAAP) (A minus C)579,024 583,874 567,010 546,694 526,474 
(E) Net Interest Income (non-GAAP) (B minus C)581,636 586,669 569,839 549,574 529,373 
Net interest margin (GAAP)3.54 %3.52 %3.48 %3.52 %3.54 %
Net interest margin, fully taxable-equivalent (non-GAAP)3.56 3.54 3.50 3.54 3.56 
(F) Non-interest income$134,142 $130,390 $130,827 $124,089 $116,634 
(G) (Losses) gains on investment securities, net(31)1,505 2,972 650 3,196 
(H) Non-interest expense382,632 384,453 380,028 381,461 366,090 
Efficiency ratio (H/(D+F-G))53.65 %53.94 %54.69 %56.92 %57.21 %
Efficiency ratio (non-GAAP) (H/(E+F-G))53.45 53.73 54.47 56.68 56.95 
31

Three Months Ended
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars and shares in thousands)20262025202520252025
Reconciliation of Non-GAAP Tangible Common Equity Ratio:
Total shareholders’ equity (GAAP)$7,378,100$7,258,715$7,045,757$7,225,696$6,600,537
Less: Non-convertible preferred stock (GAAP)(425,000)(425,000)(425,000)(837,500)(412,500)
Less: Acquisition-related intangible assets (GAAP)(890,698)(895,959)(902,936)(908,639)(913,004)
(I) Total tangible common shareholders’ equity (non-GAAP)$6,062,402$5,937,756$5,717,821$5,479,557$5,275,033
(J) Total assets (GAAP)$72,157,433$71,142,046$69,629,638$68,983,318$65,870,066
Less: Acquisition-related intangible assets (GAAP)(890,698)(895,959)(902,936)(908,639)(913,004)
(K) Total tangible assets (non-GAAP)$71,266,735$70,246,087$68,726,702$68,074,679$64,957,062
Common equity to assets ratio (GAAP) (L/J)9.6 %9.6 %9.5 %9.3 %9.4 %
Tangible common equity ratio (non-GAAP) (I/K)8.5 8.5 8.3 8.0 8.1 
Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity$7,378,100 $7,258,715 $7,045,757 $7,225,696 $6,600,537 
Less: Non-convertible preferred stock (GAAP)(425,000)(425,000)(425,000)(837,500)(412,500)
(L) Total common equity$6,953,100 $6,833,715 $6,620,757 $6,388,196 $6,188,037 
(M) Actual common shares outstanding67,437 66,975 66,961 66,938 66,919 
Book value per common share (L/M)$103.10 $102.03 $98.87 $95.43 $92.47 
Tangible book value per common share (non-GAAP) (I/M)89.90 88.66 85.39 81.86 78.83 
Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
(N) Net income applicable to common shares$219,021 $214,657 $188,913 $188,536 $182,048 
Add: Acquisition-related intangible asset amortization 4,958 4,999 5,196 5,580 5,618 
Less: Tax effect of acquisition-related intangible asset amortization(1,210)(1,310)(1,403)(1,495)(1,421)
After-tax Acquisition-related intangible asset amortization $3,748 $3,689 $3,793 $4,085 $4,197 
(O) Tangible net income applicable to common shares (non-GAAP)$222,769 $218,346 $192,706 $192,621 $186,245 
Total average shareholders’ equity$7,387,713 $7,166,608 $6,955,543 $6,862,040 $6,460,941 
Less: Average preferred stock(425,000)(425,000)(483,288)(599,313)(412,500)
(P) Total average common shareholders’ equity$6,962,713 $6,741,608 $6,472,255 $6,262,727 $6,048,441 
Less: Average acquisition-related intangible assets(894,211)(901,022)(906,032)(910,924)(916,069)
(Q) Total average tangible common shareholders’ equity (non-GAAP)$6,068,502 $5,840,586 $5,566,223 $5,351,803 $5,132,372 
Return on average common equity, annualized (N/P)12.76 %12.63 %11.58 %12.07 %12.21 %
Return on average tangible common equity, annualized (non-GAAP) (O/Q)14.89 14.83 13.74 14.44 14.72 
Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:
Income before taxes$300,940 $302,223 $296,041 $267,088 $253,055 
Add: Provision for credit losses29,594 27,588 21,768 22,234 23,963 
Pre-tax income, excluding provision for credit losses (non-GAAP)$330,534 $329,811 $317,809 $289,322 $277,018 
32

Three Months Ended
Mar 31,Dec 31,Sep 30,Jun 30,Mar 31,
(Dollars and shares in thousands, except per share data)20262025202520252025
Reconciliation of Non-GAAP Net Income per Common Share:
Net income$227,388 $223,024 $216,254 $195,527 $189,039 
Preferred stock dividends8,367 8,367 13,295 6,991 6,991 
Preferred stock redemption— — 14,046 — — 
(R) Net income applicable to common shares$219,021 $214,657 $188,913 $188,536 $182,048 
(S) Weighted average common shares outstanding67,246 66,970 66,952 66,931 66,726 
Dilutive potential common shares851 1,143 1,028 888 923 
(T) Average common shares and dilutive common shares68,097 68,113 67,980 67,819 67,649 
Net income per common share - Basic (R/S)$3.26 $3.21 $2.82 $2.82 $2.73 
Net income per common share - Diluted (R/T)$3.22 $3.15 $2.78 $2.78 $2.69 
Preferred stock series F excess one-time extended first dividend$— $— $4,927 $— $— 
Preferred stock redemption— — 14,046 — — 
(U) Total non-recurring preferred stock offering impact (non-GAAP)$— $— $18,973 $— $— 
Net income per common share - Basic (non-GAAP) (R+U)/S$3.26 $3.21 $3.11 $2.82 $2.73 
Net income per common share - Diluted (non-GAAP) (R+U)/T$3.22 $3.15 $3.06 $2.78 $2.69 
33

WINTRUST SUBSIDIARIES

Wintrust is a financial holding company whose common stock is traded on the Nasdaq Global Select Market (Nasdaq: WTFC) that operates bank retail locations in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. Its 16 community bank subsidiaries are: Barrington Bank & Trust Company, N.A., Beverly Bank & Trust Company, N.A., Crystal Lake Bank & Trust Company, N.A., Hinsdale Bank & Trust Company, N.A., Lake Forest Bank & Trust Company, N.A., Libertyville Bank & Trust Company, N.A., Macatawa Bank, N.A., Northbrook Bank & Trust Company, N.A., Old Plank Trail Community Bank, N.A., Schaumburg Bank & Trust Company, N.A., St. Charles Bank & Trust Company, N.A., State Bank of The Lakes, N.A., Town Bank, N.A., Village Bank & Trust, N.A., Wheaton Bank & Trust Company, N.A., and Wintrust Bank, N.A.

Additionally, the Company operates various non-bank businesses:
•FIRST Insurance Funding and Wintrust Life Finance, each a division of Lake Forest Bank & Trust Company, N.A., serve property and casualty and life insurance loan customers, respectively, throughout the United States.
•First Insurance Funding of Canada serves property and casualty insurance loan customers throughout Canada.
•Tricom, Inc. of Milwaukee provides high-yielding, short-term accounts receivable financing and value-added out-sourced administrative services, such as data processing of payrolls, billing and cash management services, to temporary staffing service clients located throughout the United States.
•Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., engages primarily in the origination and purchase of residential mortgages for sale into the secondary market through origination offices located throughout the United States.
•Wintrust Investments, LLC provides a full range of private client and brokerage services to clients and correspondent banks located primarily in the Midwest.
•Great Lakes Advisors LLC provides money management services and advisory services to individual accounts.
•Wintrust Private Trust Company, N.A., a trust subsidiary, allows Wintrust to service customers’ trust and investment needs at each banking location.
•Wintrust Asset Finance offers direct leasing opportunities.
•CDEC provides Qualified Intermediary services (as defined by U.S. Treasury regulations) for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2025 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company’s financial condition and results of operations from expected developments or events, the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices. Actual results could differ materially from those addressed in the forward-looking statements as a result of numerous factors, including the following:

•economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government shutdown, debt default or rating downgrade, particularly in the markets in which it operates;
•negative effects suffered by us or our customers resulting from changes in U.S. or international trade policies;
•the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses;
•estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period;
•the financial success and economic viability of the borrowers of our commercial loans;
34

•commercial real estate market conditions in the Chicago metropolitan area, southern Wisconsin and west Michigan;
•the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses;
•inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio;
•changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities;
•the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability;
•competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products;
•failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions;
•unexpected difficulties and losses related to FDIC-assisted acquisitions;
•harm to the Company’s reputation;
•any negative perception of the Company’s financial strength;
•ability of the Company to raise additional capital on acceptable terms when needed;
•disruption in capital markets, which may lower fair values for the Company’s investment portfolio;
•ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith;
•failure or breaches of our security systems or infrastructure, or those of third parties;
•security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft;
•adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware);
•adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors;
•increased costs as a result of protecting our customers from the impact of stolen debit card information;
•accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions;
•ability of the Company to attract and retain senior management experienced in the banking and financial services industries;
•environmental liability risk associated with lending activities;
•the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation;
•losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith;
•the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank;
•the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns;
•the expenses and delayed returns inherent in opening new branches and de novo banks;
•liabilities, potential customer loss or reputational harm related to closings of existing branches;
•examinations and challenges by tax authorities, and any unanticipated impact of tax legislation;
•changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements;
•the ability of the Company to receive dividends from its subsidiaries;
•a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise;
•legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies;
•changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity;
•a lowering of our credit rating;
•changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise;
•regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business;
•increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment;
•the impact of heightened capital requirements;
•increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC;
35

•delinquencies or fraud with respect to the Company’s premium finance business;
•credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans;
•the Company’s ability to comply with covenants under its credit facility;
•fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and
•widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change.

Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases.

CONFERENCE CALL, WEBCAST AND REPLAY

The Company will hold a conference call on Tuesday, April 21, 2026 at 10:00 a.m. (CDT) regarding first quarter 2026 earnings results. Individuals interested in participating in the call by addressing questions to management should register for the call to receive the dial-in numbers and unique PIN at the Conference Call Link included within the Company’s press release dated March 18, 2026 available at the Investor Relations, Investor News and Events, Press Releases link on its website at https://www.wintrust.com. A separate simultaneous audio-only webcast link is included within the press release referenced above. Registration for and a replay of the audio-only webcast with an accompanying slide presentation will be available at https://www.wintrust.com, Investor Relations, Investor News and Events, Presentations & Conference Calls. The text of the first quarter 2026 earnings press release will also be available on the home page of the Company’s website at https://www.wintrust.com and at the Investor Relations, Investor News and Events, Press Releases link on its website.

36
Earnings Release Presentation Q1 2026

 

ORGANIZATION NAME 2 Forward Looking Statements This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2025 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward- looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time,the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company's financial condition and results of operations from expected developments or events. Actual results could differ materially from those addressed in the forward-looking statements as a result of numerous factors, including the following: • economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government shutdown, debt default or rating downgrade, particularly in the markets in which it operates; • negative effects suffered by us or our customers resulting from changes in U.S. or international trade policies; • the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses; • estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period; • the financial success and economic viability of the borrowers of our commercial loans; • commercial real estate market conditions in the Chicago metropolitan area and southern Wisconsin; • the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses; • inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio; • changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities; • the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability; • competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products; • failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions; • unexpected difficulties and losses related to FDIC-assisted acquisitions; • harm to the Company’s reputation; • any negative perception of the Company’s financial strength; • ability of the Company to raise additional capital on acceptable terms when needed; • disruption in capital markets, which may lower fair values for the Company’s investment portfolio; • ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith; • failure or breaches of our security systems or infrastructure, or those of third parties; • security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft; • adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware);

 

ORGANIZATION NAME 3 Forward Looking Statements • adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors; • increased costs as a result of protecting our customers from the impact of stolen debit card information; • accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions; • ability of the Company to attract and retain senior management experienced in the banking and financial services industries; • environmental liability risk associated with lending activities; • the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation; • losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith; • the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank; • the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns; • the expenses and delayed returns inherent in opening new branches and de novo banks; • liabilities, potential customer loss or reputational harm related to closings of existing branches; • examinations and challenges by tax authorities, and any unanticipated impact of tax legislation; • changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements; • the ability of the Company to receive dividends from its subsidiaries; • the impact of the Company's transition from LIBOR to an alternative benchmark rate for current and future transactions; • a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise; • legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies; • changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity; • a lowering of our credit rating; • changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise; • regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business; • increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment; • the impact of heightened capital requirements; • increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC; • delinquencies or fraud with respect to the Company’s premium finance business; • credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans; • the Company’s ability to comply with covenants under its credit facility; • fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and • widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change could have an adverse effect on the Company’s financial condition and results of operations, lead to material disruption of the Company’s operations or the ability or willingness of clients to access the Company’s products and services. Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release and this presentation. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases and presentations.

 

ORGANIZATION NAME 4 Q1 2026 Highlights (Comparative to Q4 2025) • Record quarterly net income of $227.4 million • Q1 2026 net interest margin (non-GAAP) of 3.56% was two basis points better than the prior quarter and within our expected range • Total loans increased by approximately $1.0 billion, or 7% annualized, and was driven by growth across most loan categories • Total deposits increased by approximately $1.2 billion, or 8% annualized, and was driven by our diversified product offerings Pre-Tax, Pre-Provision1 Diversified Balance Sheet Total DepositsTotal Assets Total Loans Net Income $72.2 billion +$1.0 billion $54.1 billion +$1.0 billion $58.9 billion +$1.2 billion $227.4 million +$4.4 million Strong Credit Quality • Non-performing loans totaled $182.7 million and comprised 0.34% of total loans at March 31, 2026 • Allowance for credit losses on total core loans was 1.27% at March 31, 2026 • Net charge-offs of 14 basis points in the first quarter of 2026 Efficiency RatioReturn on Assets ROE / ROTCE 1.32% +5 bp (GAAP) 53.65% -29 bps $330.5 million +$0.7 million Diluted EPS $3.22 +$0.07 Stable Margin Supports Earnings (non-GAAP) 53.45% -28 bps (GAAP) 12.76% +13 bps (non-GAAP) 14.89% +6 bps 1 Pre-tax income, excluding provision for credit losses (non-GAAP) – See non-GAAP reconciliation in the Appendix

 

ORGANIZATION NAME 5 $189.0 $223.0 $227.4 1.20% 1.27% 1.32% Net Income ROA Q1 2025 Q4 2025 Q1 2026 Diluted EPS Quarterly Trend Record Quarterly Net Income $2.69 $3.15 $3.22 Diluted EPS Q1 2025 Q4 2025 Q1 2026 $277.0 $329.8 $330.5 Pre-Tax Income, excluding Provision for Credit Losses (non-GAAP) Q1 2025 Q4 2025 Q1 2026 ($ in Millions) Q1 2026 Highlights Earnings Summary Differentiated, highly diversified and sustainable business model • Record quarterly net income of $227.4 million supported by strong loan and deposit growth and a stable net interest margin • Q1 2026 pre-tax income, excluding provision for credit losses (non- GAAP) totaled $330.5 million as compared to $329.8 million in the fourth quarter of 2025, a record for the Company Record Quarterly Pre-Tax Income, Excluding Provision for Credit Losses ($ in Millions)

 

ORGANIZATION NAME 6 • Loan growth during the first quarter totaled $1.0 billion, or 7% on an annualized basis • Loan growth was broad based across all major categories, except PFR - Property and Casualty Insurance • Year-over-year loan growth of $5.4 billion, or 11%, driven by robust organic growth 33% 26% 15% 17% 8% 1% Commercial Commercial Real Estate PFR - Property and Casualty Insurance PFR - Life Insurance Residential Real Estate All Other Loans $53,105 $719 $222 $148 $(293) $173 $(3) $54,071 12/31/2025 Commercial Commercial Real Estate Residential Real Estate PFR - Property and Casualty Insurance PFR - Life Insurance All Other Loans 3/31/2026 $48.7 $53.1 $54.1 6.53% 6.27% 6.14% Total Loans Average Total Loan Yield 3/31/2025 12/31/2025 3/31/2026 Loan Growth Across Most Major Loan Categories ($ in Millions) Diversified Loan Mix (as of 3/31/2026) Robust Organic Loan Growth in the First Quarter ($ in Billions) Loan Portfolio Diversified loan portfolio drives consistent growth Highlights

 

ORGANIZATION NAME 7 $53.6 $57.7 $58.9 3.16% 2.90% 2.74% Total Deposits Rate Paid on Average Total Interest-Bearing Deposits 3/31/2025 12/31/2025 3/31/2026 $57,717 $689 $345 $609 $(246) $(200) $58,914 12/31/2025 Non- Interest- Bearing Money Market CDs NOW Other Interest- Bearing 3/31/2026 Deposit Portfolio Enviable core deposit franchise in Chicago, Milwaukee and Grand Rapids market areas Strong Deposit Growth in the First Quarter • First quarter deposit growth totaling $1.2 billion or 8% annualized • Year-over-year deposit growth of $5.3 billion, or 10%, was supported by strong organic growth and market share gains in our key markets • Growth across a wide range of deposit products highlights our strong deposits franchise Highlights ($ in Millions) ($ in Billions) Diversified Growth in Deposits 1 Includes: Savings and deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC, trust and asset management customers of the Company 1 Deposit Beta Chart Pending 5.00% 4.50% 4.25% 3.75%3.72% 3.39% 3.15% 2.90% 2.93% 2.68% 2.54% 2.33% Fed Funds Upper Target Interest-Bearing Deposit Rate Total Deposit Rate 9/30/2024 12/31/2024 9/30/2025 12/31/2025 5.50% 5.00% 4.50% 4.50% 4.50% 4.25% 3.75% 3.75%3.73% 3.72% 3.39% 3.16% 3.14% 3.15% 2.90% 2.74% 2.93% 2.94% 2.68% 2.51% 2.51% 2.54% 2.33% 2.21% Ending Fed Funds Rate Upper Bound Average Interest-Bearing Deposit Rate Average Total Deposit Rate 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Deposit Betas Interest-Bearing Deposit Beta: 57% Total Deposit Beta: 41% Strategically Repriced Deposits Throughout the Fed Easing Cycle

 

ORGANIZATION NAME 8 $7.2 $3.3 $0.1 Available-for-Sale Held-to-Maturity Other Year-over-Year Growth in CET1Robust Capital Levels Strategically Balanced Investment Portfolio (as of 3/31/2026) ($ in Billions) Capital/Liquidity Capital levels are well in excess of regulatory thresholds 10.1% 10.3% 10.4% 3/31/2025 12/31/2025 3/31/2026 10.1% 10.3% 10.4% 10.8% 11.0% 11.1% 12.5% 12.4% 12.5% 9.6% 9.6% 9.8% CET1 Ratio Tier 1 Capital Ratio Total Capital Ratio Tier 1 Leverage Ratio 3/31/2025 12/31/2025 3/31/2026 Total Investment Portfolio Yield (Q1 '26): 3.85% Duration: 5.7 Years $10.6 Highlights 1 Ratios for Q1 2026 are estimated 1 1 • The Company's capital levels are well in excess of regulatory thresholds and improving despite strong loan growth • Investment portfolio at 15% of total assets as of March 31, 2026

 

ORGANIZATION NAME 9 $4.11 $5.50 $6.03 $6.19 $7.08 $9.03 $11.65 $14.84 $16.07 $17.28 $18.97 $19.02 $20.78 $23.22 $25.80 $26.72 $29.28 $29.93 $32.45 $33.17 $37.08 $41.68 $44.67 $49.70 $53.23 $59.64 $61.00 $70.33 $75.39 $88.66 $89.90 Tangible Book Value Per Common Share (non-GAAP) 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 3/ 31/ 20 26 Tangible Book Value Per Common Share (non-GAAP) Wintrust has grown TBV Per Common Share every year since going public in 1996, and increased TBV Per Common Share to $89.90 as of March 31, 2026

 

ORGANIZATION NAME 10 Total Shareholder Return Wintrust's commitment to growing shareholder value is exemplified by consistently outperforming the KBW Nasdaq Regional Banking Total Return Index (KRXTR) Total Shareholder Return of WTFC Compared to KRXTR (1-Year) 100% 125% 116% WTFC KRXTR 03/ 31/ 25 03/ 31/ 26 80% 100% 120% 140% Total Shareholder Return of WTFC Compared to KRXTR (3-Year) 100% 145% 159% 198% 114% 130% 150% WTFC KRXTR 03/ 31/ 23 03/ 31/ 24 03/ 31/ 25 03/ 31/ 26 50% 100% 150% 200% 250% Total Shareholder Return of WTFC Compared to KRXTR (5-Year) 100% 124% 100% 143% 156% 194% 103% 80% 92% 104% 121% WTFC KRXTR 03/ 31/ 21 03/ 31/ 22 03/ 31/ 23 03/ 31/ 24 03/ 31/ 25 03/ 31/ 26 0% 50% 100% 150% 200% 250% 300% Total Shareholder Return of WTFC Compared to KRXTR (10-Year) 100% 157% 196% 156% 80% 180% 221% 179% 254% 276% 340% 141% 151% 134% 90% 185% 145% 165% 188% 217% WTFC KRXTR 03/ 31/ 16 03/ 31/ 17 03/ 31/ 18 03/ 31/ 19 03/ 31/ 20 03/ 31/ 21 03/ 31/ 22 03/ 31/ 23 03/ 31/ 24 03/ 31/ 25 03/ 31/ 26 50% 100% 150% 200% 250% 300% 350% * Data Source: S&P Capital IQ

 

ORGANIZATION NAME 11 As of March 31, 2026 • Collars Weighted Average Cap Rate: 3.70% • Collars Weighted Average Floor Rate: 2.21% • Receive Fixed Swaps Weighted Average Rate: 3.83% • Interest Rate Floor Weighted Average Strike Rate: 2.50% $5.90 $6.15 $5.90 $5.10 $3.70 $3.95 $3.70 $3.40 $1.75 $1.75 $1.75 $1.25 $0.45 $0.45 $0.45 $0.45 Received Fixed Swaps Costless Collars Interest Rate Floor 3/31/2026 6/30/2026 9/30/2026 12/31/2026 $526.5 $583.9 $579.0 3.56% 3.54% 3.56% Net Interest Income NIM, fully taxable-equivalent (non-GAAP) 3/31/2025 12/31/2025 3/31/2026 Net Interest Margin/Income Stable net interest margin, within projected range; coupled with earning asset growth supported strong net interest income levels Strong Q1 2026 NII Despite Two Fewer Calendar Days Derivatives Held by the Company as of March 31, 2026 that Hedge the Cash Flows of Variable Rate Loans1 ($ in Billions) ($ in Millions) Highlights 1 Balances shown represent the notional amount of cash flow hedging derivatives that are effective as of the dates presented. Reference the Appendix slide 23 for the complete derivative schedule As of December 31, 2025 Collars Weighted Average Cap Rate: 3.70% Collars Weighted Average Floor Rate: 2.21% Receive Fixed Swaps Weighted Average Rate: 3.82% Interest Rate Floor Weighted Average Strike Rate: 2.50% • We are well-positioned for strong financial performance as we expect the combination of a stable net interest margin and balance sheet growth to result in strong net interest income growth through 2026 • Hedging activities help manage our interest rate risk. We anticipate that the repricing of variable rate loans and cash is substantially offset by the impact of hedges and deposit rate changes • We are well-positioned for strong financial performance as we expect the combination of a stable net interest margin and balance sheet growth to result in strong net interest income growth through 2026 • Hedging activities help manage our interest rate risk. We anticipate that the repricing of variable rate loans and cash is substantially offset by the impact of hedges and deposit rate changes

 

ORGANIZATION NAME 12 $34.0 $39.4 $42.1 $42.7 $46.5 $45.9 Total Wealth Management Revenue Client Assets Under Administration ($ in billions) Q1 2025 Q4 2025 Q1 2026 Non-Interest Income Diversified fee businesses supported growth in non-interest income levels despite challenging mortgage environment Consistent Wealth Management Revenue Growth $116.6 $130.4 $134.1 $34.0 $39.4 $42.1 $15.3 $16.4 $19.2 $19.4 $20.4 $21.0 $27.4 $31.6 $28.4 $20.5 $22.6 $23.4 Wealth Management Operating Lease Income, net Service Charges on Deposits Other ; incl. Call Option Income Mortgage Banking Q1 2025 Q4 2025 Q1 2026 $460.5 $797.2 $594.0 $348.5 $589.1 $441.7 $112.0 $208.1 $152.3 Retail Originations Veterans First Originations Q1 2025 Q4 2025 Q1 2026 Mortgage Originations For Sale Reflect Current Market Conditions MSRs Effectively Hedged to Moderate Impact to Fair Value Non-Interest Income Increased Year-over-Year Across All Major Categories 1 ($ in Millions) ($ in Millions) % of MSRs to Loans Serviced for Others Q1 2025 Q4 2025 Q1 2026 1.58% 1.55% 1.56% $196.3 $195.0 $195.3 $12,402 $12,609 $12,535 MSRs, at fair value Loans Serviced for Others Q1 2025 Q4 2025 Q1 2026 ($ in Millions) ($ in Millions) 1 Other - includes Interest Rate Swap Fees, BOLI, Administrative Services, FX Remeasurement Gains/(Losses), Early Pay-Offs of Capital Leases, Gains/(losses) on investment securities, net, Fees from covered call options, Trading gains/(losses), net and Miscellaneous Pending

 

ORGANIZATION NAME 13 • Non-interest expense totaled $382.6 million in the first quarter of 2026, decreasing $1.9 million, compared to $384.5 million in the fourth quarter of 2025 • The decrease was primarily due to lower travel and entertainment expenses, along with decreased advertising and marketing, reflecting typical first-quarter seasonality Non-Interest Expense We continue to manage our expenses in line with company growth Increase Driven by Base Salaries as Annual Merit Increases Go Into Effect in the First Quarter Efficiency Ratio Improved as Revenue Growth Outpaced Expense Growth Strong Asset Growth Coupled With Prudent Expense Management $211.5 $222.6 $228.5 $123.9 $124.9 $129.1 $52.5 $57.1 $57.4 $35.1 $40.6 $42.0 Salaries Commissions and Incentive Compensation Benefits Q1 2025 Q4 2025 Q1 2026 56.95% 53.73% 53.45% Efficiency Ratio (non-GAAP) Q1 2025 Q4 2025 Q1 2026 $45.1 $50.1 $52.9 $56.3 $64.9 $71.1 $72.2 2.51% 2.42% 2.33% 2.45% 2.36% 2.26% 2.21% Total Assets Non-Interest Expense as a % of Average Assets FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 3/31/2026 ($ in Millions) ($ in Billions) Highlights • The Non-interest expense totaled $382.6 million in the first quarter of 2026, decreasing $1.9 million, compared to $384.5 million in the fourth quarter of 2025 • The decrease was attributable to lower travel and entertainment expenses, reflecting typical first-quarter seasonality, as well as lower OREO losses

 

ORGANIZATION NAME 14 $460.5 $27.0 $(15.9) $471.6 12/31/2025 Portfolio Changes Macroeconomic Factors 3/31/2026 $12.6 $21.8 $18.4 $24.0 $27.6 $29.6 0.11% 0.17% 0.14% NCOs Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q1 2025 Q4 2025 Q1 2026 $172.4 $185.8 $182.7 $121.5 $137.3 $133.0 $50.9 $48.5 $49.7 0.35% 0.35% 0.34% NPLs as a % of Total Loans PFR - Life and Commercial NPLs Commercial, CRE and Other NPLs 3/31/2025 12/31/2025 3/31/2026 $51,727 $52,479 Q4 2025 Q1 2026 $787 $959 Q4 2025 Q1 2026 $591 $633 Q4 2025 Q1 2026 Pass and Loans Guaranteed1 Special Mention Substandard2 1 Pass and Loans Guaranteed: Includes early buy-out loans guaranteed by U.S. government agencies 2 Substandard: Substandard includes Substandard Accrual and Substandard Nonaccrual/Doubtful 97% 97% 2% 2% 1% 1% Credit Quality Diversified business lines and strong credit management support stable credit quality Low and Consistent Levels of Non-Performing Loans ($ in Millions) ($ in Millions) Special Mention and Substandard Percentages Remained Unchanged Quarter over Quarter ($ in Millions) Allowance For Credit Losses Quarter over Quarter ($ in Millions) 3 Portfolio Changes: Includes new volume and run-off, changes in credit quality, aging of existing portfolio, shifts in segmentation mix and changes in net charge-offs 3 Provision Remained Relatively Stable

 

ORGANIZATION NAME 15 0.25% 0.40% 0.45% 0.41% 0.46% 0.48% 0.34% 0.51% 0.29% 0.34% 0.39% 0.81% 1.58% 1.74% 1.52% 1.30% 1.03% 0.85% 0.62% 0.56% 0.50% 0.47% 0.44% 0.36% 0.32% 0.16% 0.21% 0.27% 0.30% 0.29% 0.28% NPA/TA 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 3/ 31/ 20 26 1Q2 2024 is a Preliminary Number Non-Performing Assets to Total Assets NPAs continue to remain historically low

 

ORGANIZATION NAME 16 $48.7 $53.1 $54.1 0.92% 0.87% 0.87% Total Loan Period End Balance Allowance as a % of Total Loans 3/31/2025 12/31/2025 3/31/2026 $29.1 $31.3 $32.1 1.37% 1.32% 1.27% Core Loan Period End Balance Allowance as a % of Category 3/31/2025 12/31/2025 3/31/2026 $19.6 $21.8 $22.0 0.26% 0.22% 0.28% Niche Loan Period End Balance Allowance as a % of Category 3/31/2025 12/31/2025 3/31/2026 Credit Quality - Allowance for Credit Losses The Company remains well-reserved Consistently Well-Reserved Across Our Core1 Loan PortfolioAppropriate Allowance Coverage on Total Loan Portfolio ($ in Billions) ($ in Billions) Allowance Provides Proper Coverage due to Minimal Historic Losses in Niche1 Portfolio ($ in Billions) 1 Niche Loans consists of: Franchise, Mortgage warehouse lines of credit, Community Advantage - homeowners association, Insurance agency lending, Premium Finance receivables, and Consumer and other. All other loans are considered Core 1 1 Manual Input - All Data comes from Mike Reiser Q1 2026 Highlights • Increase in allowance for credit losses driven by portfolio changes, primarily from impact of new volume and minimal changes in credit quality • Coverage across all portfolios remains stable to protect against downside risks in an uncertain macroeconomic environment

 

ORGANIZATION NAME 17 $201.2 $178.5 $211.0 1.26% 1.05% 1.19% Calculated Allowance Allowance as a % of Category 3/31/2025 12/31/2025 3/31/2026 $70.6 $78.1 $87.8 0.44% 0.46% 0.49% NPLs NPL as a % of Category 3/31/2025 12/31/2025 3/31/2026 $15,931 $17,045 $17,763 0.23% 0.29% 0.17% Period End Balance Net Charge-Off Ratio (Annualized) 3/31/2025 12/31/2025 3/31/2026 43% 9% 5% 17% 7% 10% 3% 6% Commercial and industrial Asset-based lending Municipal Leases Franchise Mortgage warehouse lines of credit Community Advantage - HOA Insurance agency lending Credit Quality - Commercial Loans Diversified portfolio with low net charge-offs Low Levels of Non-Performing Commercial LoansStrong Loan Growth Coupled with Proactive Credit Management ($ in Millions) ($ in Millions) Allowance Provides Appropriate Coverage Commercial Loan Composition (as of 3/31/2026) ($ in Millions)

 

ORGANIZATION NAME 18 $210.0 $246.9 $224.9 1.63% 1.77% 1.59% Calculated Allowance Allowance as a % of Category 3/31/2025 12/31/2025 3/31/2026 $12,915 $13,941 $14,162 0.01% 0.16% 0.21% Period End Balance Net Charge-Off Ratio (Annualized) 3/31/2025 12/31/2025 3/31/2026 $26.2 $25.1 $16.8 0.20% 0.18% 0.12% NPLs NPL as a % of Category 3/31/2025 12/31/2025 3/31/2026 25% 24% 14% 13% 12% 10% 2% Multi-family Industrial Commercial and Residential construction Mixed use and other Office Retail Land Credit Quality - Commercial Real Estate Loans Well-diversified portfolio with a majority of its exposure in stabilized, income producing properties Continued Low Levels of NPLs in Q1 2026 Strong Growth in Portfolio with Modest Levels of Net Charge-offs ($ in Millions) ($ in Millions) Commercial Real Estate Loan Composition (as of 3/31/2026) ($ in Millions) Allowance Continues to Provide Strong Coverage

 

ORGANIZATION NAME 19 $3.0 $0.0 $0.0 0.04% 0.00% 0.00% NPLs NPL as a % of Category 3/31/2025 12/31/2025 3/31/2026 $9,037 $2,133 Cash Surrender Value Other $8,365 $9,024 $9,196 0.00% 0.00% 0.00% Period End Balance Net Charge-Off Ratio (Annualized) 3/31/2025 12/31/2025 3/31/2026 1 Loan Collateral reported at actual values versus credit advance rate 2 Collateral Coverage is calculated by dividing Total Loan Collateral (Undiscounted) by Total Loan Portfolio Balance 5% 72% 6% 17% Annuity Brokerage Account Certificate of Deposit Letters of Credit OtherCollateral Coverage2 of 121% Credit Quality Premium Finance Receivables - Life Insurance Life insurance portfolio remains steady and has continued to demonstrate exceptional credit quality Non-Performing Loans Remain LowStrong Growth with Pristine Credit Quality ($ in Millions) ($ in Millions) Total Loan Collateral1 by Type (as of 3/31/2026) "Other" Loan Collateral1 by Type (as of 3/31/2026) ($ in Millions) Credit Quality Premium Finance Receivable - Life Insurance Life insurance portfolio remains steady and has continued to demonstrate exceptional credit quality and no charge-offs

 

ORGANIZATION NAME 20 Low, Consistent Level of Non-Performing LoansSlight Seasonal Decline in Q1 2026 $7,240 $8,183 $7,890 0.20% 0.20% 0.20% Period End Balance Net Charge-Off Ratio (Annualized) 3/31/2025 12/31/2025 3/31/2026 $4,392 $4,822 $4,710 Originations Q1 2025 Q4 2025 Q1 2026 $47.9 $48.5 $49.7 0.66% 0.59% 0.63% NPLs NPL as a % of Category 3/31/2025 12/31/2025 3/31/2026 $3,861 $2,540 $1,205 $284 Current Premium Finance Receivables - Property and Casualty Insurance Loan Balances Projected to Mature Based on Modeled Contractual Cash Flows ≤ 3 Months 4-6 Months 7-9 Months > 9 months Premium Finance Receivables - Property and Casualty Insurance Steady year-over-year growth in portfolio with solid credit quality ($ in Millions) ($ in Millions) Projected Repayments Increased Origination Volume Compared to Prior Year ($ in Millions) ($ in Millions) Manual Input - Data comes from Mark B Manual Input - Data comes from Thanos Polyzois and Matt for Canada

 

ORGANIZATION NAME 21 Mortgage Credit, 57% Business Credit, 14% Private Equity Funds, 11% Other NDFI Loans, 18% • Warehouse lines of credit primarily to large well-capitalized residential mortgage originators • Secured primarily by first mortgages with committed investors • XXXX • XXX Non-Depository Financial Institutions (NDFI) Lending (as of 3/31/2026) NDFI lending represents a conservative 6% of the total loan portfolio in low risk sectors NDFI Loan Portfolio Breakdown ($ in Millions) $341 $445 $572 $1,801 Highlights $3,159 Mortgage Credit • NDFI Loans represent approximately 6% of the total loan portfolio as of March 31, 2026. • The majority of the portfolio consists of Mortgage Credit loans which are warehouse lines of credit secured primarily by first mortgages. Q1 2026 Takeaways Business Credit Private Equity Funds Other NDFI Loans • Comprises mainly loans to well established leasing companies • Loans to private credit lenders limited to less than $50mm • No exposure to Business Development Companies (BDCs) • Subscription lines to private equity, private credit, and CRE investment funds • Short term loans repaid by investor contributions from institutional funds, pension funds, insurance companies, and high net worth individuals • Consists of diverse pool of financial service entities including broker dealers, RIAs, insurance companies, and captive finance companies associated with commercial borrowers 1 NDFI balance is an estimate pending the filing of Wintrust Financial Corporation's FRY-9C. 1

 

ORGANIZATION NAME Appendix

 

ORGANIZATION NAME 23 Hedging activities had a one basis point favorable impact to our Q1 2026 NIM as compared to a two basis point unfavorable impact to our Q4 2025 NIM. These derivatives moderate our interest rate sensitivity and serve the purpose of stabilizing net interest income performance across various interest rate scenarios. Hedge Type Effective Date Notional Maturity Date Cap Rate Floor Rate Swap Rate Costless Collar 10/1/2022 $0.50B 10/1/2026 4.32% 2.75% N/A Costless Collar 9/1/2022 $1.25B 9/1/2027 3.45% 2.00% N/A Costless Collar Total $1.75B Interest Rate Floor 9/15/2025 $0.20B 9/15/2028 N/A 2.50% N/A Interest Rate Floor 12/1/2025 $0.25B 12/1/2029 N/A 2.50% N/A Interest Rate Floor Total $0.45B Receive Fixed Swap 4/1/2023 $0.25B 7/1/2026 N/A N/A 4.45% Receive Fixed Swap 1/31/2023 $0.50B 12/31/2026 N/A N/A 3.51% Receive Fixed Swap 2/1/2023 $0.25B 2/1/2027 N/A N/A 3.45% Receive Fixed Swap 4/1/2023 $0.25B 7/1/2027 N/A N/A 4.15% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2028 N/A N/A 3.53% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2028 N/A N/A 3.75% Receive Fixed Swap 10/1/2024 $0.35B 10/1/2029 N/A N/A 3.99% Receive Fixed Swap 11/1/2024 $0.35B 11/1/2029 N/A N/A 4.25% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2029 N/A N/A 3.30% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2030 N/A N/A 3.55% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2030 N/A N/A 3.82% Receive Fixed Swap 2/1/2026 $0.25B 2/1/2031 N/A N/A 3.95% Receive Fixed Swap 2/1/2026 $0.25B 2/1/2031 N/A N/A 4.25% Receive Fixed Swap 4/1/2026 $0.25B 4/1/2031 N/A N/A 3.69% Receive Fixed Swap 10/1/2026 $0.20B 10/1/2031 N/A N/A 3.38% Receive Fixed Swap 3/1/2027 $0.25B 3/1/2032 N/A N/A 3.43% Receive Fixed Swap 3/1/2027 $0.20B 3/1/2032 N/A N/A 3.60% Received Fixed Swap Total $4.60B Below are the details of the derivatives entered by the Company as of March 31, 2026. These derivatives hedge the cash flows of variable rate loans that reprice monthly based on one-month term SOFR. Hedge Strategy Update Use of Hedges to Stabilize NIM and Mitigate Potential Negative Impacts of Falling Rates

 

ORGANIZATION NAME 24 $377.7 $276.0 $311.8 $268.0 $268.4 $150.5$136.0 $150.3 $189.4 $149.8 $149.2 $45.6 Total CRE Office Non-Medical Non Owner-Occupied <$2M $2M-$5M $5M-$10M $10M-$15M $15M-$20M >=$20M Chicago CBD, 9% Other CBD, 9% Suburban, 82% CRE Office Portfolio Geography CRE Office Portfolio (as of 3/31/2026) CRE office represents a minimal percentage of the total loan portfolio Medical Non Owner- Occupied, 33% Medical Owner Occupied, 2% Non-Medical Owner- Occupied, 15% Non-Medical Non Owner- Occupied, 50% 1Chicago CBD includes the following zip codes: 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60610, 60611, 60654, 60661 2Other CBD includes the following metropolitan areas: Milwaukee, Boulder, Orlando, Saint Paul, Columbus, Cincinnati, San Antonio 1 2 $1,348.9 $155.4 $148.1 $820.3 $246.8 $548.8 267897 87 49 43 25 21 12 9 5 Number of Loans Per Category ($ in Millions) CRE Office Portfolio Composition Granularity of CRE Office Portfolio by Loan Size ($ in Millions) ($ in Millions) Portfolio Characteristics As of 12/31/2025 As of 3/31/2026 Balance ($ in Millions) $1,689 $1,652 CRE office as a % to Total CRE 12.11% 11.67% CRE office as a % to Total Loans 3.18% 3.06% Average Size of Loan ($ in Millions) $1.6 $1.5 Non-Performing Loan (NPL) Ratio 0.81% 0.62% Loans Still Accruing that are 30-89 Days Past Due Ratio 0.39% 0.19% Owner Occupied or Medical % 50% 50% $36.5 Manual Input - Data Comes from Mario's Team Chicago CBD $ 158.8 Other CBD $ 168.9 Suburban $ 1,360.9 Total $ 1,688.6 2 16 Considering Removing This Slide and Adding to Earnings Playbook for Exec Reference

 

251Geographic Diversification: primary business location utilized to estimate geographic diversification, which can mean the following locations types were used: collateral location, customer business location, customer home address and customer billing address States/Jurisdictions that individually comprise 1% or less of the Total Loan Portfolio shaded light blue Loan Portfolio Highly diversified portfolio across U.S Loan Portfolio - Geographic Diversification1 (as of 3/31/2026) 31% 9% 7% 6% 4% 4% 3% 3% 2% 2% 3% 2%Canada: Total Loan Portfolio Primary Geographic Region Commercial: Commercial, industrial and other Midwest Leasing Nationwide Franchise Lending Nationwide Commercial real estate Construction and development Midwest Non-construction Midwest Home equity Midwest Residential Real Estate Midwest Premium finance receivables Commercial insurance loans Nationwide and Canada Life insurance loans Nationwide Consumer and other Midwest 5% 2% 2% New Image Pending

 

ORGANIZATION NAME 26 Illinois Market1 (Sorted by 2025 Market Share Data) 2023 2024 2025 JPMorgan Chase 22.5% 20.1% 20.1% BMO Bank 17.1% 18.9% 18.3% Wintrust Financial Corporation 7.6% 8.0% 8.6% Bank of America 9.2% 8.3% 7.9% CIBC Bank USA 6.8% 7.3% 7.7% The Northern Trust Company 4.9% 6.0% 6.4% Fifth Third Bank 4.8% 4.8% 4.3% PNC Bank 3.1% 3.2% 3.3% Old National Bank 2.5% 2.5% 2.8% U.S. Bank 2.7% 2.5% 2.5% Deposit Market Share in the Markets We Serve Wintrust serves over 300,000 consumer banking households and 50,000 commercial middle market and small business clients Wisconsin Market3 (Sorted by 2025 Market Share Data) 2023 2024 2025 U.S. Bank 27.5% 24.0% 25.2% BMO Harris Bank 13.8% 14.7% 13.1% Associated Bank 9.3% 9.9% 10.0% JPMorgan Chase 10.1% 9.7% 9.6% Johnson Bank 3.9% 4.0% 4.1% Wintrust Financial Corporation 2.9% 3.4% 3.5% First Business Bank 2.0% 2.4% 2.7% Old National Bank 2.0% 2.3% 2.4% Lake Ridge Bank 1.9% 2.2% 2.2% Wells Fargo 2.3% 2.3% 2.0% Michigan Market2 (Sorted by 2025 Market Share Data) 2023 2024 2025 Huntington 19.6% 19.5% 18.3% Fifth Third Bank 19.5% 19.6% 17.2% Northpointe Bank 10.4% 11.1% 14.2% Wintrust Financial Corporation 8.0% 7.8% 9.3% JPMorgan Chase 10.2% 9.9% 9.0% Mercantile Bank 6.1% 6.3% 6.7% PNC Bank 3.8% 3.1% 3.0% West Michigan Community Bank 2.7% 2.9% 2.9% Independent Bank 3.2% 3.0% 2.9% ChoiceOne Bank 2.6% 2.6% 2.7% 1Illinois market is defined by Cook, DuPage, Kane, Lake, McHenry, Will and Winnebago counties 2Michigan market is defined by Allegan, Kent, and Ottawa counties Wintrust Midwest Branch Locations 4 3Wisconsin market is defined by Dane, Kenosha, Milwaukee, Ozaukee, Racine, Rock, Walworth and Waukesha counties 4Indiana market is defined by Lake county; Wintrust market share approx. 1.43% Data Source: Federal Deposit Insurance Corporation as of June 30th of each year

 

ORGANIZATION NAME 27 Glossary Abbreviation Definition AUA Assets Under Administration BOLI Bank Owned Life Insurance BP Basis Point BV Book Value per Common Share CBD Central Business District CET1 Ratio Common Equity Tier 1 Capital Ratio CRE Commercial Real Estate Diluted EPS Net Income per Common Share - Diluted FDIC Federal Deposit Insurance Corporation GAAP Generally Accepted Accounting Principles HOA Homeowners Association Interest Bearing Cash Total Interest-Bearing Deposits with Banks, Securities Purchased under Resale Agreements and Cash Equivalents MSA Metropolitan Statistical Area MSR Mortgage Servicing Right NCO Net Charge Off NDFI Non-Depository Financial Institutions NII Net Interest Income NIM Net Interest Margin Non-GAAP For non-GAAP metrics, see the reconciliation in the Appendix NPA Non-Performing Asset NPL Non-Performing Loan OREO Other Real Estate Owned PFR Premium Finance Receivables PTPP Pre-Tax, Pre-Provision Income RBA Retirement Benefits Advisors RIA Registered Investment Adviser ROA Return on Assets ROE Return on Average Common Equity ROTCE Return on Average Tangible Common Equity RWA Risk-Weighted Asset SOFR Secured Overnight Financing Rate TA Total Assets TBV Tangible Book Value TBVPCS Tangible Book Value Per Common Share

 

ORGANIZATION NAME 28 Three Months Ended Reconciliation of non-GAAP Net Interest Margin and Efficiency Ratio ($ in Thousands): March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 (A) Interest Income (GAAP) $ 927,560 $ 956,326 $ 963,834 $ 920,908 $ 886,965 Taxable-equivalent adjustment: - Loans 2,026 2,134 2,154 2,200 2,206 - Liquidity Management Assets 586 661 675 680 690 - Other Earning Assets — — — — 3 (B) Interest Income (non-GAAP) $ 930,172 $ 959,121 $ 966,663 $ 923,788 $ 889,864 (C) Interest Expense (GAAP) 348,536 372,452 396,824 374,214 360,491 (D) Net Interest Income (GAAP) (A minus C) 579,024 583,874 567,010 546,694 526,474 (E) Net Interest Income (non-GAAP) (B minus C) 581,636 586,669 569,839 549,574 529,373 Net interest margin (GAAP) 3.54 % 3.52 % 3.48 % 3.52 % 3.54 % Net interest margin, fully taxable-equivalent (non-GAAP) 3.56 % 3.54 % 3.50 % 3.54 % 3.56 % (F) Non-interest income $ 134,142 $ 130,390 $ 130,827 $ 124,089 $ 116,634 (G) (Losses) gains on investment securities, net (31) 1,505 2,972 650 3,196 (H) Non-interest expense 382,632 384,453 380,028 381,461 366,090 Efficiency ratio (H/(D+F-G)) 53.65 % 53.94 % 54.69 % 56.92 % 57.21 % Efficiency ratio (non-GAAP) (H/(E+F-G)) 53.45 % 53.73 % 54.47 % 56.68 % 56.95 % The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Reconciliation of non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $ 300,940 $ 302,223 $ 296,041 $ 267,088 $ 253,055 Add: Provision for credit losses 29,594 27,588 21,768 22,234 23,963 Pre-tax income, excluding provision for credit losses (non- GAAP) $ 330,534 $ 329,811 $ 317,809 $ 289,322 $ 277,018 Non-GAAP Reconciliation

 

ORGANIZATION NAME 29 Non-GAAP Reconciliation Three Months Ended Reconciliation of non-GAAP Return on Average Tangible Common Equity ($ in Thousands): March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 (N) Net income applicable to common shares $ 219,021 $ 214,657 $ 188,913 $ 188,536 $ 182,048 Add: Intangible asset amortization 4,958 4,999 5,196 5,580 5,618 Less: Tax effect of intangible asset amortization (1,210) (1,310) (1,403) (1,495) (1,421) After-tax intangible asset amortization $ 3,748 $ 3,689 $ 3,793 $ 4,085 $ 4,197 (O) Tangible net income applicable to common shares (non-GAAP) $ 222,769 $ 218,346 $ 192,706 $ 192,621 $ 186,245 Total average shareholders’ equity $ 7,387,713 $ 7,166,608 $ 6,955,543 $ 6,862,040 $ 6,460,941 Less: Average preferred stock (425,000) (425,000) (483,288) (599,313) (412,500) (P) Total average common shareholders’ equity $ 6,962,713 $ 6,741,608 $ 6,472,255 $ 6,262,727 $ 6,048,441 Less: Average intangible assets (894,211) (901,022) (906,032) (910,924) (916,069) (Q) Total average tangible common shareholders’ equity (non-GAAP) $ 6,068,502 $ 5,840,586 $ 5,566,223 $ 5,351,803 $ 5,132,372 Return on average common equity, annualized (N/P) 12.76 % 12.63 % 11.58 % 12.07 % 12.21 % Return on average tangible common equity, annualized (non-GAAP) (O/Q) 14.89 % 14.83 % 13.74 % 14.44 % 14.72 % The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

 

ORGANIZATION NAME 30 Non-GAAP Reconciliation The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Three Months Ended Reconciliation of Non-GAAP Net Income per Common Share: ($ in Thousands): March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 Net income $ 227,388 $ 223,024 $ 216,254 $ 195,527 $ 189,039 Preferred stock dividends 8,367 8,367 13,295 6,991 6,991 Preferred stock redemption — — 14,046 — — (R) Net income applicable to common shares $ 219,021 $ 214,657 $ 188,913 $ 188,536 $ 182,048 (S) Weighted average common shares outstanding 67,246 66,970 66,952 66,931 66,726 Dilutive potential common shares 851 1,143 1,028 888 923 (T) Average common shares and dilutive common shares 68,097 68,113 67,980 67,819 67,649 Net income per common share - Basic (R/S) $3.26 $3.21 $2.82 $2.82 $2.73 Net income per common share - Diluted (R/T) $3.22 $3.15 $2.78 $2.78 $2.69 Preferred stock series F excess one-time extended first dividend — $ — 4,927 — — Preferred stock redemption — — 14,046 — — (U) Total non-recurring preferred stock offering impact (non-GAAP) — $ — 18,973 — — Net income per common share - Basic (non-GAAP) (R+U)/S $3.26 $3.21 $3.11 $2.82 $2.73 Net income per common share - Diluted (non-GAAP) (R+U)/T $3.22 $3.15 $3.06 $2.78 $2.69

 

ORGANIZATION NAME 31 Non-GAAP Reconciliation The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Three Months Ended Reconciliation of non-GAAP Tangible Common Equity ($'s and Shares in Thousands): March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 Total shareholders’ equity (GAAP) $ 7,378,100 $ 7,258,715 $ 7,045,757 $ 7,225,696 $ 6,600,537 Less: Non-convertible preferred stock (GAAP) (425,000) (425,000) (425,000) (837,500) (412,500) Less: Acquisition-related intangible assets (GAAP) (890,698) (895,959) (902,936) (908,639) (913,004) (I) Total tangible common shareholders’ equity (non-GAAP) $ 6,062,402 $ 5,937,756 $ 5,717,821 $ 5,479,557 $ 5,275,033 (J) Total assets (GAAP) $ 72,157,433 $ 71,142,046 $ 69,629,638 $ 68,983,318 $ 65,870,066 Less: Acquisition-related intangible assets (GAAP) (890,698) (895,959) (902,936) (908,639) (913,004) (K) Total tangible assets (non-GAAP) $ 71,266,735 $ 70,246,087 $ 68,726,702 $ 68,074,679 $ 64,957,062 Common equity to assets ratio (GAAP) (L/J) 9.6 % 9.6 % 9.5 % 9.3 % 9.4 % Tangible common equity ratio (non-GAAP) (I/K) 8.5 % 8.5 % 8.3 % 8.0 % 8.1 % Reconciliation of non-GAAP Tangible Book Value per Common Share ($'s and Shares in Thousands): Total shareholders’ equity $ 7,378,100 $ 7,258,715 $ 7,045,757 $ 7,225,696 $ 6,600,537 Less: Non-convertible preferred stock (GAAP) (425,000) (425,000) (425,000) (837,500) (412,500) (L) Total common equity $ 6,953,100 $ 6,833,715 $ 6,620,757 $ 6,388,196 $ 6,188,037 (M) Actual common shares outstanding 67,437 66,975 66,961 66,938 66,919 Book value per common share (L/M) $103.10 $102.03 $98.87 $95.43 $92.47 Tangible book value per common share (non-GAAP) (I/M) $89.90 $88.66 $85.39 $81.86 $78.83

 

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