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Wintrust Financial in Chicago has formed a division to focus on the city's start-up community.
January 13 -
Wintrust Financial in Rosemont, Ill., reported third-quarter earnings of $40.2 million, as increases in interest and fee income were partially offset by heavier expenses.
October 16 -
Wintrust Financial in Rosemont, Ill., has agreed to buy Delavan Bancshares in Wisconsin.
October 14 -
Wintrust Financial (WTFC) in Rosemont, Ill., reported higher quarterly earnings as income from loan growth offset lower fee revenue.
July 14
Wintrust Financial in Rosemont, Ill., reported higher quarterly earnings on increased revenue.
The $20 billion-asset company's fourth-quarter profit rose 8% from a year earlier, to $38.13 million. Earnings of 75 cents a share were 2 cents shy of the average estimate of analysts polled by Bloomberg.
Wintrust's revenue rose 12%, to $211.3 million.
Net interest income increased 8%, to $153.7 million. Loans rose 2.3% from the third quarter and 11% from a year earlier, to $14.6 billion. Commercial lending and Wintrust's life insurance premium finance business reported the highest growth, with annual rates of 25% and 27% respectively, from the previous quarter. The net interest margin was flat from the third quarter and compressed by 7 basis points from a year earlier, to 3.46%.
"Growth in 2014 primarily resulted from leveraging our consistently strong loan pipeline to grow internally," Ed Wehmer, Wintrust's chief executive, said in a press release. "The fourth quarter was highlighted by continued loan and deposit growth, improvement in credit quality metrics, relatively stable net interest margin and increased wealth management revenues."
Wintrust's loan-loss provision rose 60% from a year earlier, to $6.1 million. Nonperforming assets fell 19%, to $124.6 million.
Fee income rose 24.4%, to $57.7 million. Several line items wealth management, mortgage banking and fees from covered-call options showed significant improvement.
Noninterest expenses rose 13%, to $143.4 million, including a 58% increase in commission and incentive-based compensation.
