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Wintrust Financial Corp  (WTFC)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $96.9800 $-0.47 -0.482%
Day's High: $97.85 Week Perf: 1.18 %
Day's Low: $ 96.34 30 Day Perf: 1.39 %
Volume (M): 192 52 Wk High: $ 100.71
Volume (M$): $ 18,601 52 Wk Avg: $79.48
Open: $96.83 52 Wk Low: $57.48



 Market Capitalization (Millions $) 6,030
 Shares Outstanding (Millions) 62
 Employees -
 Revenues (TTM) (Millions $) 2,133
 Net Income (TTM) (Millions $) 644
 Cash Flow (TTM) (Millions $) -72
 Capital Exp. (TTM) (Millions $) 45

Wintrust Financial Corp

Wintrust Financial Corporation, an Illinois corporation, which was incorporated in 1992, is a financial holding company based in Rosemont, Illinois. We conduct our businesses through three segments: community banking, specialty finance and wealth management. All segment measurements discussed below are based on the reportable segments and do not reflect intersegment eliminations.
We provide community-oriented, personal and commercial banking services to customers located in the Chicago metropolitan area and in southern Wisconsin (“our market area”) through our fifteen wholly owned banking subsidiaries (collectively, the “banks”), as well as the origination and purchase of residential mortgages for sale into the secondary market through Wintrust Mortgage, a division of Barrington Bank and Trust Company, N.A. (“Barrington Bank”).

We provide specialty finance services, including financing for the payment of commercial insurance premiums and life insurance premiums (“premium finance receivables”) on a national basis through our wholly owned subsidiary, First Insurance Funding Corporation (“FIFC”) and in Canada through our premium finance company, First Insurance Funding of Canada (“FIFC Canada”), and short-term accounts receivable financing and outsourced administrative services through our wholly owned subsidiary, Tricom, Inc. of Milwaukee (“Tricom”).

Community Banking
Through our banks, we provide community-oriented, personal and commercial banking services to customers located in our market area. Our customers include individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the banks local service areas. The banks have a strategy to provide comprehensive community-focused banking services. In keeping with this strategy, the banks provide highly personalized and responsive service, a characteristic of locally-owned and managed institutions. As such, the banks compete for deposits principally by offering depositors a variety of deposit programs, convenient office locations, hours and other services, and for loan originations primarily through the interest rates and loan fees they charge, the efficiency and quality of services they provide to borrowers and the variety of their loan and cash management products. Using our decentralized corporate structure to our advantage, we offer our MaxSafe® deposit accounts, which provide customers with expanded Federal Deposit Insurance Corporation (“FDIC”) insurance coverage by spreading a customers deposit across our fifteen banks. This product differentiates our banks from many of our competitors that have consolidated their bank charters into branches. We also have a downtown Chicago office that works with each of our banks to capture commercial and industrial business. Our commercial and industrial lenders in our downtown office operate in close partnership with lenders at our community banks. By combining our expertise in the commercial and industrial sector with our high level of personal service and full suite of banking products, we believe we create another point of differentiation from both our larger and smaller competitors. Our banks also offer home equity, consumer, and real estate loans, safe deposit facilities, ATMs, internet banking and other innovative and traditional services specially tailored to meet the needs of customers in their market areas.

We developed our banking franchise through a combination of de novo organization and the purchase of existing bank franchises. The organizational efforts began in 1991, when a group of experienced bankers and local business people identified an unfilled niche in the Chicago metropolitan area retail banking market. As large banks acquired smaller ones and personal service was subjected to consolidation strategies, the opportunity increased for locally owned and operated, highly personal service-oriented banks.


We now own fifteen banks, including nine Illinois-chartered banks: Lake Forest Bank, Hinsdale Bank and Trust Company (“Hinsdale Bank”), Wintrust Bank, Libertyville Bank and Trust Company (“Libertyville Bank”), Northbrook Bank & Trust Company (“Northbrook Bank”), Village Bank & Trust (“Village Bank”), Wheaton Bank & Trust Company (“Wheaton Bank”), State Bank of the Lakes and St. Charles Bank & Trust Company (“St. Charles Bank”). In addition, we have one Wisconsin-chartered bank, Town Bank, and five nationally chartered banks: Barrington Bank, Crystal Lake Bank & Trust Company, N.A. (“Crystal Lake Bank”), Schaumburg Bank & Trust Company, N.A. (“Schaumburg Bank”), Beverly Bank & Trust Company, N.A. (“Beverly Bank”) and Old Plank Trail Community Bank, N.A. (“Old Plank Trail Bank”).


Each bank is subject to regulation, supervision and regular examination by: (1) the Secretary of the Illinois Department of Financial and Professional Regulation (“Illinois Secretary”) and the Board of Governors of the Federal Reserve System (“Federal Reserve”) for Illinois-chartered banks; (2) the Office of the Comptroller of the Currency (“OCC”) for nationally-chartered banks; or (3) the Wisconsin Department of Financial Institutions (“Wisconsin Department”) and the Federal Reserve for Town Bank.


We also engage in the retail origination and correspondent purchase of residential mortgages through Wintrust Mortgage. Most originated and purchased loans sold into the secondary market are sold with servicing released. Certain originated loans are sold to the Companys banks with servicing remaining within Wintrust Mortgage operations. Wintrust Mortgage maintains retail mortgage offices in a number of states, with the largest concentration located in the Chicago, Minneapolis and Los Angeles metropolitan areas.

We also offer several niche lending products through several of the banks. These include Barrington Banks Community Advantage program, which provides lending, deposit and cash management services to condominium, homeowner and community associations; Hinsdale Banks mortgage warehouse lending program, which provides loan and deposit services to mortgage brokerage companies located predominantly in the Chicago metropolitan area; and Lake Forest Banks franchise lending program, which provides lending to restaurant franchisees. Other niches offered throughout our banking franchise include Wintrust Commercial Finance, which offers direct leasing opportunities; Wintrust Business Credit, which specializes in asset-based lending for middle-market companies; Wintrust SBA Lending, which is dedicated to offering expertise in Small Business Administration loans; Wintrust Commercial Real Estate, which concentrates on real estate lending solutions including commercial mortgages and construction loans; and Wintrust Government, Non-Profit & Hospital, which focuses on financial solutions for mission-based organizations such as hospitals, non-profits, educational institutions and local government operations.

Specialty Finance
We conduct our specialty finance businesses through non-bank subsidiaries. Our wholly owned subsidiary, FIFC, engages in the premium finance receivables business, our most significant specialized lending niche, including commercial insurance premium finance and life insurance premium finance. We also engage in commercial insurance premium finance in Canada through our wholly owned subsidiary FIFC Canada.


In their commercial insurance premium finance operations, FIFC and FIFC Canada make loans to businesses to finance the insurance premiums they pay on their commercial insurance policies. Approved medium and large insurance agents and brokers located throughout the United States and Canada assist FIFC and FIFC Canada, respectively, in arranging each commercial premium finance loan between the borrower and FIFC or FIFC Canada, as the case may be. FIFC or FIFC Canada evaluates each loan request according to its own underwriting criteria including the amount of the down payment on the insurance policy, the term of the loan, the credit quality of the insurance company providing the financed insurance policy, the interest rate, the borrowers previous payment history, if any, and other factors deemed appropriate. Upon approval of the loan by FIFC or FIFC Canada, as the case may be, the borrower makes a down payment on the financed insurance policy, which is generally done by providing payment to the agent or broker, who then forwards it to the insurance company. FIFC or FIFC Canada may either forward the financed amount of the remaining policy premiums directly to the insurance carrier or to the agent or broker for remittance to the insurance carrier on FIFCs or FIFC Canadas behalf. In some cases the agent or broker may hold our collateral, in the form of the proceeds of the unearned insurance premium from the insurance company, and forward it to FIFC or FIFC Canada in the event of a default by the borrower. This lending involves relatively rapid turnover of the loan portfolio and high volume of loan originations. Because the agent or broker is the primary contact to the ultimate borrowers who are located nationwide and because proceeds and our collateral may be handled by the agent or brokers during the term of the loan, FIFC and FIFC Canada may be more susceptible to third party (i.e., agent or broker) fraud. The Company performs various controls and procedures including ongoing credit and other reviews of the agents and brokers as well as performs various internal audit steps to mitigate against the risk of any fraud.


The commercial and property premium finance business is subject to regulation in the majority of states. Regulation typically governs notices to borrowers prior to cancellation of a policy, notices to insurance companies, maximum interest rates and late fees and approval of loan documentation. FIFC is licensed or otherwise qualified to provide financing of commercial insurance policies in all 50 states, the District of Columbia and Puerto Rico, and FIFC’s compliance department regularly monitors changes to regulations and updates policies and programs accordingly.


FIFC also finances life insurance policy premiums generally used for estate planning purposes of high net-worth borrowers. These loans are originated directly with the borrowers with assistance from life insurance carriers, independent insurance agents, financial advisors and legal counsel. The cash surrender value of the life insurance policy is the primary form of collateral. In addition, these loans often are secured with a letter of credit, marketable securities or certificates of deposit. In some cases, FIFC may make a loan that has a partially unsecured position.


The life insurance premium finance business is governed under banking regulations but is not subject to additional systemic regulation. FIFCs compliance department regularly monitors the regulatory environment and the companys compliance with existing regulations. FIFC maintains a policy prohibiting the knowing financing of stranger-originated life insurance and has established procedures to identify and prevent the company from financing such policies. While a carrier could potentially put at risk the cash surrender value of a policy, which serves as FIFCs primary collateral, by challenging the validity of the insurance contract for lack of an insurable interest, FIFC believes it has strong counterclaims against any such claims by carriers, in addition to recourse to borrowers and guarantors as well as to additional collateral in certain cases.


Premium finance loans made by FIFC and FIFC Canada are primarily secured by the insurance policies financed by the loans. These insurance policies are written by a large number of insurance companies geographically dispersed throughout the United States and Canada. Our premium finance receivables balances finance insurance policies that are spread among a large number of insurers, however one of the insurers represents approximately 14% of such balances and two additional insurers each represent approximately 5% of such balances. FIFC and FIFC Canada consistently monitor carrier ratings and financial performance of our carriers. In the event ratings fall below certain levels, most of FIFCs life insurance premium finance policies provide for an event of default and allow FIFC to have recourse to borrowers and guarantors as well as to additional collateral in certain cases. For the commercial premium finance business, the term of the loans is sufficiently short such that in the event of a decline in carrier ratings, FIFC or FIFC Canada, as the case may be, can restrict or eliminate additional loans to finance premiums to such carriers. The majority of premium finance receivables are purchased by the banks in order to more fully utilize their lending capacity as these loans generally provide the banks with higher yields than alternative investments.


Through our wholly owned subsidiary Tricom, we provide high-yielding, short-term accounts receivable financing and value-added, outsourced administrative services, such as data processing of payrolls, billing and cash management services to the temporary staffing industry. Tricom’s clients, located throughout the United States, provide staffing services to businesses in diversified industries. During 2015, Tricom processed payrolls with associated client billings of approximately $660 million and contributed approximately $10.6 million to our revenue, net of interest expense. Net revenue is based on our reportable segments and does not reflect intersegment eliminations.

Wealth Management Activities
We offer a full range of wealth management services through three separate subsidiaries, trust and investment services, asset management and securities brokerage services. These subsidiaries are subject to regulation by the Securities and Exchange Commission (the "SEC") and the Financial Industry Regulatory Authority ("FINRA").


Great Lakes Advisors, our registered investment adviser with locations in downtown Chicago and Safety Harbor, Florida as well as in various banking offices of our fifteen banks, provides money management services and advisory services to individuals, institutions, and municipal and tax-exempt organizations.


CTC, our trust subsidiary, offers trust and investment management services to clients through offices located in downtown Chicago and at various banking offices of our fifteen banks. CTC is subject to regulation, supervision and regular examination by the OCC.

WHI, our registered broker/dealer subsidiary which has been operating since 1931, provides a full range of private client and securities brokerage services to clients located primarily in the Midwest. WHI is headquartered in downtown Chicago, operates an office in Appleton, Wisconsin, and has established branch locations in offices at a majority of our banks. WHI also provides a full range of investment services to clients through a network of relationships with community-based financial institutions primarily located in Illinois.



   Company Address: 9700 W. Higgins Road, Suite 800 Rosemont 60018 IL
   Company Phone Number: 939-9000   Stock Exchange / Ticker: NASDAQ WTFC
   WTFC is expected to report next financial results on February 27, 2024. Next quarterly dividend pay out on February 22, 2024.


Customers Net Income fell by WTFC's Customers Net Profit Margin fell to

-32.23 %

11.25 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
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MTB        3.49% 
NTRS        2.76% 
• View Complete Report
   



Dividend

Wintrust Financial Corp Boosts Dividend Payouts: A Promising Path to Shareholder Rewards

Published Thu, Jan 25 2024 9:05 PM UTC


Wintrust Financial Corporation, a leading financial services company, has recently announced an exciting development for its shareholders. The company's Board of Directors has approved an increase in the quarterly cash dividend rate for its common stock, raising it by 12.5%. This decision reflects the company's commitment to rewarding its investors and signifies a posit...

Wintrust Financial Corp

Wintrust Financial Corp Soars to New Heights with Remarkable Top-Line Growth

Wintrust Financial Corp (WTFC) has reported strong financial performance for the financial period ending September 30, 2023. The company posted revenue of $554.91 million, representing a year-on-year growth of 11.763%. Additionally, the earnings per share (EPS) grew by 14.48% to $2.53, indicating the company's ability to generate profits for its shareholders.
Comparing these figures with its sector peers, WTFC has outperformed the Regional Banks sector, which only saw a revenue improvement of 0.27% during the same period. This demonstrates the company's ability to excel in terms of its top-line performance. Furthermore, WTFC's income improved by 6.3% from the previous financial reporting period, where it reported an EPS of $2.38. In terms of revenue, the company recorded a 4.297% increase from $532.05 million.

Dividend

Wintrust Financial Corporation Stays Resolute, Announces Quarterly Dividend Amidst Market Downturn

Published Thu, Oct 26 2023 8:21 PM UTC



ROSEMONT, Ill., Oct. 26, 2023 - Wintrust Financial Corporation (Wintrust or the Company) (Nasdaq: WTFC) announced today that its Board of Directors has approved a quarterly cash dividend of $0.40 per share of outstanding common stock. This significant step further demonstrates the Company's commitment to enhancing shareholder value amidst an uncertain economic clim...

Wintrust Financial Corp

Wintrust Financial Corp Achieves Impressive Growth in Second Quarter with 59.73% Increase in Income and 26.58% Revenue Growth

Wintrust Financial Corp Reports Strong Second Quarter Financial Performance
In the second quarter of 2023, Wintrust Financial Corp demonstrated impressive growth in its financial report. The company's income saw a substantial increase of 59.73% year on year, reaching $2.38 per share. Moreover, the revenue marked a notable growth rate of 26.58%, reaching $532.05 million.
When compared to the previous quarter, there was a slight decline in profits by -15%, from $2.80 per share. Additionally, the revenue also experienced a marginal decrease of -1.965% from $542.72 million. Despite this slight decline, the results still reflect considerable growth and solid performance.

Wintrust Financial Corp

Wintrust Financial Corp Showcases Impressive Growth in First Quarter 2023 Earnings, with 18.5% Revenue Increase and 41.45% Net Income Surge

The financial results of Wintrust Financial Corp in the first quarter of 2023 have showcased an impressive performance by the company. The revenue of the company increased by 18.5% to $1,963 million on a year on year basis, with revenue per employee growing to $520,575. This indicates strong productivity levels of the company's employees, demonstrating efficient utilization of resources. However, the productivity of Wintrust Financial's employees was found to be lower than that of 140 other companies in the financial sector, highlighting the need for the company to focus on improving employee productivity.
Despite this, the company's net income increased by a substantial 41.45%, reaching $180.198 million in the first quarter of 2023, compared to the same period a year ago, boosting investor confidence in the company. This impressive performance was driven by the growth of the company's profit margins, with net margin and operating margin increasing to 33.2% and 44.88%, respectively.






 

Wintrust Financial's Segments
 
 
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