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Wintrust Financial (WTFC) in Rosemont, Ill., has renegotiated a $100 million loan agreement with outside lenders.
November 8 -
Wintrust Financial in Rosemont, Ill., recorded higher quarterly profits on increased net interest income and benefits from buying Diamond Bancorp in Schaumburg, Ill.
October 15 -
The serial acquirer in Rosemont, Ill., announced Wednesday that it has agreed to buy the $165 million-asset Diamond Bancorp, which has a branch on Chicago's north side and three branches in its northern suburbs.
July 31
Wintrust Financial (WTFC) in Rosemont, Ill., recorded higher fourth-quarter earnings because of an increase in net interest income and a lower loan-loss provision.
The $18 billion company's earnings rose 17% from a year earlier, to $35.3 million. Earnings per share of 70 cents were in line with the average estimate of analysts polled by Bloomberg.
Net interest income rose 7% from a year earlier, to $142.3 million. Average loans, excluding covered loans, grew by $1 billion from the end of 2012. The company's earnings reflect its acquisitions of
Wintrust's net interest margin expanded by 13 basis points from a year earlier, to 3.53%.
Noninterest income fell 29% from a year earlier, to $46.4 million, because of lower mortgage banking revenue and fewer securities gains. Higher income from the company's wealth management business partially offset the decline.
Noninterest expenses dipped 2% from a year earlier, to $127 million, because of lower costs from foreclosures and reduced employee salaries and benefits.
Wintrust chopped its loan-loss provision by 81% from a year earlier, to $3.9 million.
