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.