Wintrust Financial Corporation established a new series of preferred stock, Series F, with a fixed-rate reset dividend of 7.875%. The Series F Preferred Stock ranks senior to common stock and equally with Series D and E Preferred Stock in dividend and liquidation rights. The amendment to the company’s articles of incorporation, effective May 9, 2025, authorizes 18,000 shares of this new series.

Wintrust Financial Announces $425 Million Preferred Stock Offering

Wintrust Financial Corporation has announced a public offering of 17 million depositary shares, each representing a 1/1,000th interest in a share of its new 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F. Each depositary share has a liquidation preference of $25.00. The offering is expected to generate approximately $414.7 million in net proceeds after underwriting discounts and estimated expenses.

The company plans to use the proceeds for general corporate purposes, which may include the redemption of existing preferred stock. The offering is expected to close on May 22, 2025. Multiple financial institutions involved in the offering maintain ordinary course business relationships with Wintrust, including credit and administrative roles.

Wintrust Financial Corporation – Q1 2025 Financial Summary (in English)


Record Net Income:
Wintrust reported record net income of $189.0 million for Q1 2025, up from $185.4 million in Q4 2024. Earnings per diluted share were $2.69, compared to $2.63 in the previous quarter. Pre-tax, pre-provision income (non-GAAP) also reached a record $277.0 million.

Growth Highlights:

Total loans increased by $653 million (+6% annualized).

Total deposits rose by $1.1 billion (+8% annualized).

Total assets grew by $1.0 billion (+6% annualized).

Net interest income reached $526.5 million, driven by margin expansion and balance sheet growth.

Net interest margin increased to 3.56% (fully taxable equivalent basis).

Credit Quality and Loan Loss Provisions:

Provision for credit losses was $24.0 million, up from $17.0 million in Q4 2024.

Net charge-offs decreased to $12.6 million (11 basis points of average loans).

Non-performing loans held steady at $172.4 million, or 0.35% of total loans.

Allowance for credit losses increased to $448.4 million (1.37% of loans).

Non-Interest Income and Expenses:

Non-interest income totaled $116.6 million, up by $3.2 million.

Service charges on deposit accounts increased to $19.4 million.

Wealth management revenue declined by $4.7 million due to system transitions and market effects.

Mortgage banking revenue remained stable at $20.5 million.

Net investment gains totaled $3.2 million.

Non-interest expense was $366.1 million, down $2.4 million.

Lower costs in salaries, professional fees, travel, and advertising contributed to the decline.

Macatawa Bank acquisition-related costs were $2.7 million.

Income Taxes:

Income tax expense was $64.0 million (effective tax rate of 25.30%).

Tax benefits from share-based compensation totaled $3.7 million.

Segment Performance:

Community Banking: Loan growth in commercial, CRE, and residential sectors. Strong pipelines suggest continued growth in Q2.

Specialty Finance: Insurance premium financing originations reached $4.8 billion. Equipment leasing portfolios grew to $2.7B (capital leases), $1.1B (loans), and $280.5M (operating leases).

Wealth Management: Revenue was $34.0 million, with $51.1 billion in assets under administration.

Key Events:

Macatawa Bank Acquisition (Aug 2024): Added $2.9B in assets, $2.3B in deposits, and $1.3B in loans. Resulted in $142.1M in goodwill.

RBA Division Sale (Q1 2024): Generated a $19.3M net gain.

CEO Outlook:
CEO Timothy S. Crane highlighted that strong deposit growth, prudent credit management, and a well-diversified business model have positioned the company for continued success in a volatile macroeconomic environment. He anticipates higher net interest income in Q2 2025 supported by solid loan growth and a stable margin, with a continued focus on expense discipline and conservative credit standards.