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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 21, 2024
 
WINTRUST FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
 
Illinois001-35077 36-3873352
(State or other jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer
Identification No.)
9700 W. Higgins Road, Suite 800RosemontIllinois 60018
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (847) 939-9000
Not Applicable
(Former name or former address, if changed since last year)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of Each Class Ticker SymbolName of Each Exchange on Which Registered
Common Stock, no par value WTFCThe NASDAQ Global Select Market
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, no par valueWTFCMThe NASDAQ Global Select Market
Depositary Shares, Each Representing a 1/1,000th Interest in a Share of
WTFCPThe NASDAQ Global Select Market
6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, no par value

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐
    
    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐


Item 2.02. Results of Operations and Financial Condition
The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
On October 21, 2024, Wintrust Financial Corporation (the “Company”) announced earnings for the third quarter of 2024 and posted on its website the Third Quarter 2024 Earnings Release Presentation. Copies of the press release relating to the Company’s earnings results and the related presentation are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively. Certain supplemental information relating to non-GAAP financial measures reported in the attached press release and presentation is included on pages 33 through 34 of Exhibit 99.1 and pages 31 through 33 of Exhibit 99.2.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
 
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
WINTRUST FINANCIAL CORPORATION
(Registrant)
By:/s/ David L. Stoehr
 David L. Stoehr
Executive Vice President and
    Chief Financial Officer
Date: October 21, 2024
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INDEX TO EXHIBITS
 

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Exhibit 99.1
Wintrust Financial Corporation
9700 W. Higgins Road, Suite 800, Rosemont, Illinois 60018
News Release
FOR IMMEDIATE RELEASE  October 21, 2024
FOR MORE INFORMATION CONTACT:
Timothy S. Crane, President & Chief Executive Officer
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000
Web site address: www.wintrust.com

Wintrust Financial Corporation Reports Third Quarter and Year-to-Date Results

ROSEMONT, ILLINOIS – Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced net income of $509.7 million or $7.67 per diluted common share for the first nine months of 2024 compared to net income of $499.1 million or $7.71 per diluted common share for the same period of 2023. Pre-tax, pre-provision income (non-GAAP) for the first nine months of 2024 totaled a record $778.1 million, compared to $751.3 million in the first nine months of 2023.

The Company recorded quarterly net income of $170.0 million or $2.47 per diluted common share for the third quarter of 2024 compared to net income of $152.4 million or $2.32 per diluted common share for the second quarter of 2024. Pre-tax, pre-provision income (non-GAAP) totaled $255.0 million as compared to $251.4 million for the second quarter of 2024.

Results of operations include those of Macatawa Bank Corporation (“Macatawa”), since the acquisition date of August 1, 2024.

Timothy S. Crane, President and Chief Executive Officer, commented, “Our net income for both the third quarter and year-to-date 2024 were driven by robust organic loan and deposit growth as well as a stable net interest margin. We believe we are well-positioned for strong financial performance as we continue our momentum in the fourth quarter of 2024 and into 2025.”

Additionally, Mr. Crane emphasized, “Net interest margin in the third quarter remained stable, decreasing one basis point as compared to the second quarter of 2024. We expect net interest margin to remain in the 3.50% range in the fourth quarter of 2024 and into 2025. Stable net interest margin coupled with continued balance sheet growth should result in net interest income growth. Focusing on growth of net interest income, disciplined expense control and maintaining our consistent credit standards should drive strong financial performance.”

Mr. Crane continued, “I want to recognize the efforts of our new Macatawa teammates and committed Wintrust team members on the seamless transaction and a solid beginning to integration activities. Macatawa offers a unique opportunity for Wintrust to expand into the desirable west Michigan market with a compatible management team and reputable brand. The quality core deposit franchise, excess liquidity and pristine credit quality coupled with aligned values make the acquisition an ideal fit for the Company. We are thrilled to bring our product offerings to Michigan and continue Macatawa’s commitment to customer service and community involvement.”

Highlights of the third quarter of 2024:
Comparative information to the second quarter of 2024, unless otherwise noted

•Total loans increased by approximately $2.4 billion, which includes approximately $1.3 billion of acquired balances relating to Macatawa. Excluding Macatawa, total loans increased $1.1 billion or 10% annualized.
•Total deposits increased by approximately $3.4 billion, which includes approximately $2.3 billion of acquired balances relating to Macatawa. Excluding Macatawa, total deposits increased $1.1 billion or 9% annualized.
•Total assets increased by $4.0 billion, which includes approximately $2.9 billion of acquired assets relating to Macatawa. Excluding Macatawa, total assets increased $1.1 billion or 8% annualized.

•Net interest income increased to $502.6 million in the third quarter of 2024 compared to $470.6 million in the second quarter of 2024, primarily due to average earning asset growth and the addition of Macatawa for the last two months of the third quarter.    
◦Net interest margin decreased by one basis point to 3.49% (3.51% on a fully taxable-equivalent basis, non-GAAP) during the third quarter of 2024.
•Non-interest income was impacted by the following:
◦Net gains on investment securities totaling $3.2 million in the third quarter of 2024 related to changes in the value of equity securities as compared to net losses of $4.3 million in the second quarter of 2024.
◦Unfavorable mortgage servicing rights ("MSRs") related revenue totaled $11.4 million in the third quarter of 2024 compared to favorable MSRs related revenue of $2.8 million in the second quarter of 2024.
•Non-interest expense was impacted by the following:
◦Macatawa added approximately $10.1 million of total operating expenses, including $3.0 million of core deposit intangible asset amortization.
◦Incurred acquisition related costs of $1.6 million in the third quarter of 2024 as compared to $542,000 in the second quarter of 2024.
•Provision for credit losses totaled $22.3 million in the third quarter of 2024, including a one-time acquisition-related Day 1 provision of approximately $15.5 million, as compared to a provision for credit losses of $40.1 million in the second quarter of 2024.
•Tangible book value per common share (non-GAAP) increased to $76.15 as of September 30, 2024 as compared to $72.01 as of June 30, 2024. See Table 18 for reconciliation of non-GAAP measures.
Mr. Crane noted, “We are very pleased with our organic loan and deposit growth rates. Excess liquidity acquired in the Macatawa transaction was deployed by funding quality loan growth and reducing exposure to wholesale and brokered funding sources. Non-interest bearing deposits remained at 21% of total deposits at the end of the third quarter of 2024 and increased $708 million compared to the second quarter of 2024. We continue to leverage our customer relationships and market positioning to generate deposits, grow loans and build long term franchise value.”
Commenting on credit quality, Mr. Crane stated, “Our credit metrics were stable. Net charge-offs totaled $26.7 million, or 23 basis points of average total loans on an annualized basis, in the third quarter of 2024 and were spread primarily across the commercial and property and casualty premium finance receivables portfolios. This compared to net charge-offs totaling $30.0 million, or 28 basis points of average total loans on an annualized basis, in the second quarter of 2024. Approximately $18.3 million of charge-offs in the current quarter were previously reserved for in the second quarter of 2024. Non-performing loans totaled $179.7 million, or 0.38% of total loans, at the end of the third quarter of 2024 compared to $174.3 million, or 0.39% of total loans, at the end of the second quarter of 2024. Total non-performing assets comprised 0.30% of total assets as of September 30, 2024, a two basis point decline compared to June 30, 2024. We continue to be conservative and proactive in reviewing credit and maintaining our consistently strong credit standards. We believe that the Company’s reserves remain appropriate and we remain diligent in our review of credit.”

In summary, Mr. Crane noted, “Our record year continued as we built upon our strong momentum with the acquisition of Macatawa. Substantial loan growth in the third quarter and inclusion of Macatawa for all three months in the fourth quarter create positive revenue momentum. We have reduced our asset sensitivity to interest rates and therefore we believe that we are well positioned for the current interest rate environment and consensus forecast for additional interest rate cuts by the Federal Reserve. Steadfast commitment to credit quality, growing net interest income and increasing our long term franchise value remain our priority.
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The graphs below illustrate certain financial highlights of the third quarter of 2024 as well as historical financial performance. See “Supplemental Non-GAAP Financial Measures/Ratios” at Table 18 for additional information with respect to non-GAAP financial measures/ratios, including the reconciliations to the corresponding GAAP financial measures/ratios.
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SUMMARY OF RESULTS:

BALANCE SHEET

Total assets increased $4.0 billion in the third quarter of 2024 as compared to the second quarter of 2024. Total loans increased by $2.4 billion as compared to the second quarter of 2024. The increase in total loans included approximately $1.3 billion of loans related to the Macatawa acquisition. The increase in loans was diversified across nearly all loan portfolios.

Total liabilities increased by $3.1 billion in the third quarter of 2024 as compared to the second quarter of 2024 primarily due to a $3.4 billion increase in total deposits. The increase in total deposits included approximately $2.3 billion related to the Macatawa acquisition. Excess liquidity acquired in the Macatawa transaction enabled the Company to reduce brokered funding reliance by $858 million. Non-interest bearing deposits increased $708 million in the third quarter of 2024 as compared to the second quarter of 2024. Non-interest bearing deposits as a percentage of total deposits was 21% at September 30, 2024, June 30, 2024 and March 31, 2024. The Company's loans to deposits ratio was 91.6% on September 30, 2024 as compared to 93.0% as of June 30, 2024.

For more information regarding changes in the Company’s balance sheet, see Consolidated Statements of Condition and Table 1 through Table 3 in this report.

NET INTEREST INCOME

For the third quarter of 2024, net interest income totaled $502.6 million, an increase of $32.0 million as compared to the second quarter of 2024. The $32.0 million increase in net interest income in the third quarter of 2024 compared to the second quarter of 2024 was primarily due to a $3.1 billion increase in average earning assets, which included the addition of Macatawa in the third quarter. These benefits were partially offset by a one basis point decrease in the net interest margin.

Net interest margin was 3.49% (3.51% on a fully taxable-equivalent basis, non-GAAP) during the third quarter of 2024 compared to 3.50% (3.52% on a fully taxable-equivalent basis, non-GAAP) during the second quarter of 2024. The net interest margin decrease as compared to the second quarter of 2024 was primarily due to a one basis point decrease in the yield on earning assets and one basis point decrease in the net free funds contribution. These declines were partially offset by a one basis point decrease in rate paid on interest-bearing liabilities. The one basis point decrease in yield on earnings assets in the third quarter of 2024 as compared to the second quarter of 2024 was primarily due to an increase in average interest-bearing cash as a percentage of average quarterly earning assets associated with the Macatawa acquisition. The one basis point decrease in the rate paid on interest-bearing liabilities in the third quarter of 2024 as compared to the second quarter of 2024 was primarily due to a one basis point decrease in rate paid on interest-bearing deposits.

For more information regarding net interest income, see Table 4 through Table 8 in this report.

ASSET QUALITY

The allowance for credit losses totaled $436.2 million as of September 30, 2024, relatively unchanged compared to $437.6 million as of June 30, 2024. A provision for credit losses totaling $22.3 million was recorded for the third quarter of 2024 as compared to $40.1 million recorded in the second quarter of 2024. Provision for credit losses in the third quarter of 2024 included Day 1 provision for credit losses of approximately $15.5 million related to the Macatawa acquisition. The lower provision for credit losses recognized in the third quarter of 2024 compared to the second quarter of 2024 was primarily attributable to lower required specific reserves on nonaccrual loans, improved forecasted macroeconomic conditions, and, to a lesser extent, portfolio changes related to improved risk rating mix and shorter life of loan. For more information regarding the allowance for credit losses and provision for credit losses, see Table 11 in this report.

Management believes the allowance for credit losses is appropriate to account for expected credit losses. The Current Expected Credit Losses accounting standard requires the Company to estimate expected credit losses over the life of the Company’s financial assets as of the reporting date. There can be no assurances, however, that future losses will not significantly exceed the amounts provided for, thereby affecting future results of operations. A summary of the allowance for credit losses calculated for the loan components in each portfolio as of September 30, 2024, June 30, 2024, and March 31, 2024 is shown on Table 12 of this report.

Net charge-offs totaled $26.7 million in the third quarter of 2024, a decrease of $3.3 million as compared to $30.0 million of net charge-offs in the second quarter of 2024. Approximately $18.3 million of charge-offs in the current quarter were previously reserved for in the second quarter of 2024. Net charge-offs as a percentage of average total loans were 23 basis points in the
8
third quarter of 2024 on an annualized basis compared to 28 basis points on an annualized basis in the second quarter of 2024. For more information regarding net charge-offs, see Table 10 in this report.

The Company’s delinquency rates remain low and manageable. For more information regarding past due loans, see Table 13 in this report.

Non-performing assets totaled $193.4 million and comprised 0.30% of total assets as of September 30, 2024, as compared to $194.0 million, or 0.32% of total assets, as of June 30, 2024. Non-performing loans totaled $179.7 million and comprised 0.38% of total loans at September 30, 2024, as compared to $174.3 million and 0.39% of total loans at June 30, 2024. The increase in the third quarter of 2024 was primarily due to an increase in certain credits within the commercial portfolios becoming nonaccrual. For more information regarding non-performing assets, see Table 14 in this report.

Credit metrics remained stable and at relatively low levels in the third quarter of 2024.

NON-INTEREST INCOME

Wealth management revenue increased by $1.8 million in the third quarter of 2024 as compared to the second quarter of 2024 primarily due to the Macatawa acquisition and increased asset management fees from higher assets under management during the period. Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company and Great Lakes Advisors, the brokerage commissions, managed money fees and insurance product commissions at Wintrust Investments and fees from tax-deferred like-kind exchange services provided by the Chicago Deferred Exchange Company.

Mortgage banking revenue decreased by $13.2 million in the third quarter of 2024 as compared to the second quarter of 2024 primarily due to $11.4 million unfavorable MSR related revenues, net of servicing hedge, in the third quarter of 2024 compared to $2.8 million favorable MSRs related revenue in the second quarter of 2024 and slightly decreased production revenue due to reduced production margin. This was partially offset by a favorable adjustment to the Company’s held-for-sale portfolio of early buy-out exercised loans guaranteed by U.S. government agencies, which are held at fair value, of $3.5 million in the third quarter of 2024 compared to a $642,000 favorable adjustment in the second quarter of 2024. The Company monitors the relationship of these assets and seeks to minimize the earnings impact of fair value changes. For more information regarding mortgage banking revenue, see Table 16 in this report.

The Company recognized $3.2 million in net gains on investment securities in the third quarter of 2024 as compared to $4.3 million in net losses in the second quarter of 2024. The net gains in the third quarter of 2024 were primarily the result of unrealized gains on the Company’s equity investment securities with a readily determinable fair value.

Fees from covered call options decreased by $1.1 million in the third quarter of 2024 as compared to the second quarter of 2024. The Company has typically written call options with terms of less than three months against certain U.S. Treasury and agency securities held in its portfolio for liquidity and other purposes. Management has entered into these transactions with the goal of economically hedging security positions and enhancing its overall return on its investment portfolio. These option transactions are designed to mitigate overall interest rate risk and do not qualify as hedges pursuant to accounting guidance.

Other income decreased by $5.1 million in the third quarter of 2024 compared to the second quarter of 2024 primarily due to a gain recognized in the second quarter of 2024 associated with our property and casualty insurance premium finance receivable loan sale transaction.

For more information regarding non-interest income, see Table 15 in this report.

NON-INTEREST EXPENSE

Non-interest expenses totaled $360.7 million in the third quarter of 2024, increasing $20.3 million as compared to $340.4 million in the second quarter of 2024. The Macatawa acquisition impacted this increase by approximately $10.1 million of non-interest expense associated with Macatawa, which included $3.0 million in amortization of other acquisition-related intangible assets in the third quarter of 2024.

Salaries and employee benefits expense increased by $12.7 million in the third quarter of 2024 as compared to the second quarter of 2024. The $12.7 million increase is primarily related to higher incentive compensation expense due to elevated bonus accruals in the third quarter of 2024 as well as increased salaries expense due to the Macatawa acquisition and additional staffing to support the Company’s growth.

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Software and equipment expense increased $2.3 million in the third quarter of 2024 as compared to the second quarter of 2024
primarily due to software expense relating to upgrading and maintenance of information technology and security infrastructure as well as the Macatawa acquisition.

Advertising and marketing expenses in the third quarter of 2024 totaled $18.2 million, which is a $803,000 increase as compared to the second quarter of 2024. Marketing costs are incurred to promote the Company’s brand, commercial banking capabilities and the Company’s various products, to attract loans and deposits and to announce new branch openings as well as the expansion of the Company’s non-bank businesses. The level of marketing expenditures depends on the timing of sponsorship programs utilized which are determined based on the market area, targeted audience, competition and various other factors. Generally, these expenses are elevated in the second and third quarters of each year.

For more information regarding non-interest expense, see Table 17 in this report.

INCOME TAXES

The Company recorded income tax expense of $62.7 million in the third quarter compared to $59.0 million in the second quarter of 2024. The effective tax rates were 26.95% in the third quarter of 2024 compared to 27.90% in the second quarter of 2024. The effective tax rates were impacted by an overall lower level of provision for state income tax expense in the comparable periods.

BUSINESS UNIT SUMMARY

Community Banking

Through its community banking unit, the Company provides banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the local areas the Company services. In the third quarter of 2024, the community banking unit expanded its commercial, commercial real estate and residential real estate loan portfolios.

Mortgage banking revenue was $16.0 million for the third quarter of 2024, a decrease of $13.2 million as compared to the second quarter of 2024, primarily due to $11.4 million unfavorable MSR related revenues, net of servicing hedge, in the third quarter of 2024 compared to $2.8 million favorable MSRs related revenue in the second quarter of 2024 and slightly decreased production revenue due to reduced production margin. This was partially offset by a favorable adjustment to the Company’s held-for-sale portfolio of early buy-out exercised loans guaranteed by U.S. government agencies, which are held at fair value, of $3.5 million in the third quarter of 2024 compared to a $642,000 favorable adjustment in the second quarter of 2024. Service charges on deposit accounts totaled $16.4 million in the third quarter of 2024, which was relatively stable compared to the second quarter of 2024. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of September 30, 2024 indicating momentum for expected continued loan growth in the fourth quarter of 2024.

Specialty Finance

Through its specialty finance unit, the Company offers financing of insurance premiums for businesses and individuals, equipment financing through structured loans and lease products to customers in a variety of industries, accounts receivable financing and value-added, out-sourced administrative services and other services. Originations within the insurance premium financing receivables portfolios were $4.8 billion during the third quarter of 2024. Average balances increased by $259.8 million, as compared to the second quarter of 2024. The Company’s leasing portfolio balance remained stable in the third quarter of 2024, with its portfolio of assets, including capital leases, loans and equipment on operating leases, totaling $3.7 billion as of September 30, 2024 and June 30, 2024. Revenues from the Company’s out-sourced administrative services business were $1.5 million in the third quarter of 2024, which was relatively stable compared to the second quarter of 2024.

Wealth Management

Through four separate subsidiaries within its wealth management unit, the Company offers a full range of wealth management services, including trust and investment services, tax-deferred like-kind exchange services, asset management, and securities brokerage services. See “Items Impacting Comparative Results,” regarding the sale of the Company’s Retirement Benefits Advisors (“RBA”) division during the first quarter of 2024. Wealth management revenue totaled $37.2 million in the third quarter of 2024, relatively stable as compared to the second quarter of 2024. At September 30, 2024, the Company’s wealth management subsidiaries had approximately $51.1 billion of assets under administration, which included $8.0 billion of assets owned by the Company and its subsidiary banks.
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ITEMS IMPACTING COMPARATIVE FINANCIAL RESULTS

Business Combination

On August 1, 2024, the Company completed its previously announced acquisition of Macatawa, the parent company of Macatawa Bank. In conjunction with the completed acquisition, the Company issued approximately 4.7 million shares of common stock. Macatawa operates 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties in the state of Michigan. Macatawa offers a full range of banking, retail and commercial lending, wealth management and ecommerce services to individuals, businesses and governmental entities. As of August 1, 2024, Macatawa had approximately $2.9 billion in assets, $2.3 billion in deposits and $1.3 billion in loans. The Company preliminarily recorded goodwill of approximately $144.6 million on the purchase.

Division Sale

In the first quarter of 2024, the Company sold its RBA division and recorded a gain of approximately $20.0 million in other non-interest income from the sale.

Business Combination

On April 3, 2023, the Company completed its acquisition of Rothschild & Co Asset Management US Inc. and Rothschild & Co Risk Based Investments LLC from Rothschild & Co North America Inc. As the transaction was determined to be a business combination, the Company recorded goodwill of approximately $2.6 million on the purchase.



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WINTRUST FINANCIAL CORPORATION
Key Operating Measures

Wintrust’s key operating measures and growth rates for the third quarter of 2024, as compared to the second quarter of 2024 (sequential quarter) and third quarter of 2023 (linked quarter), are shown in the table below:
% or (1)
basis point  (bp) change from
2nd Quarter
2024
% or
basis point  (bp) change from
3rd Quarter
2023
  
Three Months Ended
(Dollars in thousands, except per share data)Sep 30, 2024Jun 30, 2024Sep 30, 2023
Net income$170,001 $152,388 $164,198 12 % 4 % 
Pre-tax income, excluding provision for credit losses (non-GAAP) (2)
255,043 251,404 244,781 1 4 
Net income per common share – Diluted2.47 2.32 2.53 6 (2)
Cash dividends declared per common share0.45 0.45 0.40 — 13 
Net revenue (3)
615,730 591,757 574,836 4 7 
Net interest income502,583 470,610 462,358 7 9 
Net interest margin3.49 %3.50 %3.60 %(1)bps(11)bps
Net interest margin – fully taxable-equivalent (non-GAAP) (2)
3.51 3.52 3.62 (1)(11)
Net overhead ratio (4)
1.62 1.53 1.59 9 3 
Return on average assets1.11 1.07 1.20 4 (9)
Return on average common equity11.63 11.61 13.35 2 (172)
Return on average tangible common equity (non-GAAP) (2)
13.92 13.49 15.73 43 (181)
At end of period
Total assets$63,788,424$59,781,516$55,555,24627 % 15 % 
Total loans (5)
47,067,44744,675,53141,446,03221 14 
Total deposits51,404,96648,049,02644,992,68628 14 
Total shareholders’ equity6,399,7145,536,6285,015,61362 28 
(1)Period-end balance sheet percentage changes are annualized.
(2)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(3)Net revenue is net interest income plus non-interest income.
(4)The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
(5)Excludes mortgage loans held-for-sale.
Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. This is done for analytical purposes to better discern, for decision-making purposes, underlying performance trends when compared to full-year or year-over-year amounts. For example, a 5% growth rate for a quarter would represent an annualized 20% growth rate. Additional supplemental financial information showing quarterly trends can be found on the Company’s website at www.wintrust.com by choosing “Financial Reports” under the “Investor Relations” heading, and then choosing “Financial Highlights.”

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WINTRUST FINANCIAL CORPORATION
Selected Financial Highlights
 Three Months EndedNine Months Ended
(Dollars in thousands, except per share data)Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Sep 30, 2024Sep 30, 2023
Selected Financial Condition Data (at end of period):
Total assets$63,788,424$59,781,516$57,576,933$56,259,934$55,555,246
Total loans (1)
47,067,44744,675,53143,230,70642,131,83141,446,032
Total deposits51,404,96648,049,02646,448,85845,397,17044,992,686
Total shareholders’ equity6,399,7145,536,6285,436,4005,399,5265,015,613
Selected Statements of Income Data:
Net interest income$502,583 $470,610 $464,194 $469,974 $462,358 $1,437,387 $1,367,890 
Net revenue (2)
615,730 591,757 604,774 570,803 574,836 1,812,261 1,701,167 
Net income170,001 152,388 187,294 123,480 164,198 509,683 499,146 
Pre-tax income, excluding provision for credit losses (non-GAAP) (3)
255,043 251,404 271,629 208,151 244,781 778,076 751,320 
Net income per common share – Basic2.51 2.35 2.93 1.90 2.57 7.79 7.82 
Net income per common share – Diluted2.47 2.32 2.89 1.87 2.53 7.67 7.71 
Cash dividends declared per common share0.45 0.45 0.45 0.40 0.40 1.35 1.20 
Selected Financial Ratios and Other Data:
Performance Ratios:
Net interest margin 3.49 %3.50 %3.57 %3.62 %3.60 %3.52 %3.68 %
Net interest margin – fully taxable-equivalent (non-GAAP) (3)
3.51 3.52 3.59 3.64 3.62 3.54 3.70 
Non-interest income to average assets0.74 0.85 1.02 0.73 0.82 0.86 0.84 
Non-interest expense to average assets2.36 2.38 2.41 2.62 2.41 2.38 2.39 
Net overhead ratio (4)
1.62 1.53 1.39 1.89 1.59 1.52 1.55 
Return on average assets1.11 1.07 1.35 0.89 1.20 1.17 1.26 
Return on average common equity11.63 11.61 14.42 9.93 13.35 12.52 13.91 
Return on average tangible common equity (non-GAAP) (3)
13.92 13.49 16.75 11.73 15.73 14.69 16.43 
Average total assets$60,915,283 $57,493,184 $55,602,695 $55,017,075 $54,381,981 $58,014,347 $53,028,199 
Average total shareholders’ equity5,990,429 5,450,173 5,440,457 5,066,196 5,083,883 5,628,346 5,008,648 
Average loans to average deposits ratio 93.8 %95.1 %94.5 %92.9 %92.4 %94.5 %93.2 %
Period-end loans to deposits ratio 91.6 93.0 93.1 92.8 92.1 
Common Share Data at end of period:
Market price per common share$108.53 $98.56 $104.39 $92.75 $75.50 
Book value per common share90.06 82.97 81.38 81.43 75.19 
Tangible book value per common share (non-GAAP) (3)
76.15 72.01 70.40 70.33 64.07 
Common shares outstanding66,481,54361,760,13961,736,71561,243,62661,222,058
Other Data at end of period:
Common equity to assets ratio9.4 %8.6 %8.7 %8.9 %8.3 %
Tangible common equity ratio (non-GAAP)(3)
8.1 7.5 7.6 7.7 7.1 
Tier 1 leverage ratio (5)
9.4 9.3 9.4 9.3 9.2 
Risk-based capital ratios:
Tier 1 capital ratio (5)
10.5 10.3 10.3 10.3 10.2 
Common equity tier 1 capital ratio (5)
9.8 9.5 9.5 9.4 9.3 
Total capital ratio (5)
12.2 12.1 12.2 12.1 12.0 
Allowance for credit losses (6)
$436,193 $437,560 $427,504 $427,612 $399,531 
Allowance for loan and unfunded lending-related commitment losses to total loans0.93 %0.98 %0.99 %1.01 %0.96 %
Number of:
Bank subsidiaries16 15 15 15 15 
Banking offices203 177 176 174 174 
(1)Excludes mortgage loans held-for-sale.
(2)Net revenue is net interest income plus non-interest income.
(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(4)The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
(5)Capital ratios for current quarter-end are estimated.
(6)The allowance for credit losses includes the allowance for loan losses, the allowance for unfunded lending-related commitments and the allowance for held-to-maturity securities losses.
13
WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION
 
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(In thousands)20242024202420232023
Assets
Cash and due from banks$725,465 $415,462 $379,825 $423,404 $418,088 
Federal funds sold and securities purchased under resale agreements5,663 62 61 60 60 
Interest-bearing deposits with banks3,648,117 2,824,314 2,131,077 2,084,323 2,448,570 
Available-for-sale securities, at fair value3,912,232 4,329,957 4,387,598 3,502,915 3,611,835 
Held-to-maturity securities, at amortized cost3,677,420 3,755,924 3,810,015 3,856,916 3,909,150 
Trading account securities3,472 4,134 2,184 4,707 1,663 
Equity securities with readily determinable fair value125,310 112,173 119,777 139,268 134,310 
Federal Home Loan Bank and Federal Reserve Bank stock266,908 256,495 224,657 205,003 204,040 
Brokerage customer receivables16,662 13,682 13,382 10,592 14,042 
Mortgage loans held-for-sale, at fair value461,067 411,851 339,884 292,722 304,808 
Loans, net of unearned income47,067,447 44,675,531 43,230,706 42,131,831 41,446,032 
Allowance for loan losses(360,279)(363,719)(348,612)(344,235)(315,039)
Net loans46,707,168 44,311,812 42,882,094 41,787,596 41,130,993 
Premises, software and equipment, net772,002 722,295 744,769 748,966 747,501 
Lease investments, net270,171 275,459 283,557 281,280 275,152 
Accrued interest receivable and other assets1,721,090 1,671,334 1,580,142 1,551,899 1,674,681 
Trade date securities receivable551,031 — — 690,722 — 
Goodwill800,780 655,955 656,181 656,672 656,109 
Other acquisition-related intangible assets123,866 20,607 21,730 22,889 24,244 
Total assets$63,788,424 $59,781,516 $57,576,933 $56,259,934 $55,555,246 
Liabilities and Shareholders’ Equity
Deposits:
Non-interest-bearing$10,739,132 $10,031,440 $9,908,183 $10,420,401 $10,347,006 
Interest-bearing40,665,834 38,017,586 36,540,675 34,976,769 34,645,680 
Total deposits51,404,966 48,049,026 46,448,858 45,397,170 44,992,686 
Federal Home Loan Bank advances3,171,309 3,176,309 2,676,751 2,326,071 2,326,071 
Other borrowings647,043 606,579 575,408 645,813 643,999 
Subordinated notes298,188 298,113 437,965 437,866 437,731 
Junior subordinated debentures253,566 253,566 253,566 253,566 253,566 
Accrued interest payable and other liabilities1,613,638 1,861,295 1,747,985 1,799,922 1,885,580 
Total liabilities57,388,710 54,244,888 52,140,533 50,860,408 50,539,633 
Shareholders’ Equity:
Preferred stock412,500 412,500 412,500 412,500 412,500 
Common stock66,546 61,825 61,798 61,269 61,244 
Surplus2,470,228 1,964,645 1,954,532 1,943,806 1,933,226 
Treasury stock(6,098)(5,760)(5,757)(2,217)(1,966)
Retained earnings3,748,715 3,615,616 3,498,475 3,345,399 3,253,332 
Accumulated other comprehensive loss(292,177)(512,198)(485,148)(361,231)(642,723)
Total shareholders’ equity6,399,714 5,536,628 5,436,400 5,399,526 5,015,613 
Total liabilities and shareholders’ equity$63,788,424 $59,781,516 $57,576,933 $56,259,934 $55,555,246 

14
WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months EndedNine Months Ended
(Dollars in thousands, except per share data)Sep 30,
2024		Jun 30,
2024		Mar 31,
2024		Dec 31,
2023		Sep 30,
2023		Sep 30, 2024Sep 30, 2023
Interest income
Interest and fees on loans$794,163 $749,812 $710,341 $694,943 $666,260 $2,254,316 $1,846,009 
Mortgage loans held-for-sale6,233 5,434 4,146 4,318 4,767 15,813 12,473 
Interest-bearing deposits with banks32,608 19,731 16,658 21,762 26,866 68,997 57,216 
Federal funds sold and securities purchased under resale agreements277 17 19 578 1,157 313 1,228 
Investment securities69,592 69,779 69,678 68,237 59,164 209,049 170,350 
Trading account securities11 13 18 15 6 42 26 
Federal Home Loan Bank and Federal Reserve Bank stock5,451 4,974 4,478 3,792 3,896 14,903 11,120 
Brokerage customer receivables269 219 175 203 284 663 844 
Total interest income908,604 849,979 805,513 793,848 762,400 2,564,096 2,099,266 
Interest expense
Interest on deposits362,019 335,703 299,532 285,390 262,783 997,254 621,080 
Interest on Federal Home Loan Bank advances26,254 24,797 22,048 18,316 17,436 73,099 53,970 
Interest on other borrowings9,013 8,700 9,248 9,557 9,384 26,961 25,723 
Interest on subordinated notes3,712 5,185 5,487 5,522 5,491 14,384 16,502 
Interest on junior subordinated debentures5,023 4,984 5,004 5,089 4,948 15,011 14,101 
Total interest expense406,021 379,369 341,319 323,874 300,042 1,126,709 731,376 
Net interest income502,583 470,610 464,194 469,974 462,358 1,437,387 1,367,890 
Provision for credit losses22,334 40,061 21,673 42,908 19,923 84,068 71,482 
Net interest income after provision for credit losses480,249 430,549 442,521 427,066 442,435 1,353,319 1,296,408 
Non-interest income
Wealth management37,224 35,413 34,815 33,275 33,529 107,452 97,332 
Mortgage banking15,974 29,124 27,663 7,433 27,395 72,761 75,640 
Service charges on deposit accounts16,430 15,546 14,811 14,522 14,217 46,787 40,728 
Gains (losses) on investment securities, net3,189 (4,282)1,326 2,484 (2,357)233 (959)
Fees from covered call options988 2,056 4,847 4,679 4,215 7,891 17,184 
Trading (losses) gains, net(130)70 677 (505)728 617 1,647 
Operating lease income, net15,335 13,938 14,110 14,162 13,863 43,383 39,136 
Other24,137 29,282 42,331 24,779 20,888 95,750 62,569 
Total non-interest income113,147 121,147 140,580 100,829 112,478 374,874 333,277 
Non-interest expense
Salaries and employee benefits211,261 198,541 195,173 193,971 192,338 604,975 554,042 
Software and equipment31,574 29,231 27,731 27,779 25,951 88,536 76,853 
Operating lease equipment10,518 10,834 10,683 10,694 12,020 32,035 31,669 
Occupancy, net19,945 19,585 19,086 18,102 21,304 58,616 58,966 
Data processing9,984 9,503 9,292 8,892 10,773 28,779 29,908 
Advertising and marketing18,239 17,436 13,040 17,166 18,169 48,715 47,909 
Professional fees9,783 9,967 9,553 8,768 8,887 29,303 25,990 
Amortization of other acquisition-related intangible assets4,042 1,122 1,158 1,356 1,408 6,322 4,142 
FDIC insurance10,512 10,429 14,537 43,677 9,748 35,478 27,425 
OREO expenses, net(938)(259)392 (1,559)120 (805)31 
Other35,767 33,964 32,500 33,806 29,337 102,231 92,912 
Total non-interest expense360,687 340,353 333,145 362,652 330,055 1,034,185 949,847 
Income before taxes232,709 211,343 249,956 165,243 224,858 694,008 679,838 
Income tax expense62,708 58,955 62,662 41,763 60,660 184,325 180,692 
Net income$170,001 $152,388 $187,294 $123,480 $164,198 $509,683 $499,146 
Preferred stock dividends6,991 6,991 6,991 6,991 6,991 20,973 20,973 
Net income applicable to common shares$163,010 $145,397 $180,303 $116,489 $157,207 $488,710 $478,173 
Net income per common share - Basic$2.51 $2.35 $2.93 $1.90 $2.57 $7.79 $7.82 
Net income per common share - Diluted$2.47 $2.32 $2.89 $1.87 $2.53 $7.67 $7.71 
Cash dividends declared per common share$0.45 $0.45 $0.45 $0.40 $0.40 $1.35 $1.20 
Weighted average common shares outstanding64,88861,83961,48161,23661,21362,74361,119
Dilutive potential common shares1,053 926 928 1,166 964 934 888 
Average common shares and dilutive common shares65,941 62,765 62,409 62,402 62,177 63,677 62,007 
15
TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES
   % Growth From
(Dollars in thousands)Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31,
2023		Sep 30, 2023
Dec 31, 2023 (1)
Sep 30, 2023
Balance:
Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies$314,693 $281,103 $193,064 $155,529 $190,511 NM65 %
Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies146,374 130,748 146,820 137,193 114,297 9 28 
Total mortgage loans held-for-sale$461,067 $411,851 $339,884 $292,722 $304,808 77 %51 %
Core loans:
Commercial
Commercial and industrial$6,768,382 $6,226,336 $6,105,968 $5,804,629 $5,894,732 22 %15 %
Asset-based lending1,709,685 1,465,867 1,355,255 1,433,250 1,396,591 26 22 
Municipal827,125 747,357 721,526 677,143 676,915 30 22 
Leases2,443,721 2,439,128 2,344,295 2,208,368 2,109,628 14 16 
PPP loans6,301 9,954 11,036 11,533 13,744 (61)(54)
Commercial real estate
Residential construction73,088 55,019 57,558 58,642 51,550 33 42 
Commercial construction1,984,240 1,866,701 1,748,607 1,729,937 1,547,322 20 28 
Land346,362 338,831 344,149 295,462 294,901 23 17 
Office1,675,286 1,585,312 1,566,748 1,455,417 1,422,748 20 18 
Industrial2,527,932 2,307,455 2,190,200 2,135,876 2,057,957 25 23 
Retail1,404,586 1,365,753 1,366,415 1,337,517 1,341,451 7 5 
Multi-family3,193,339 2,988,940 2,922,432 2,815,911 2,710,829 18 18 
Mixed use and other1,588,584 1,439,186 1,437,328 1,515,402 1,519,422 6 5 
Home equity427,043 356,313 340,349 343,976 343,258 32 24 
Residential real estate
Residential real estate loans for investment3,252,649 2,933,157 2,746,916 2,619,083 2,538,630 32 28 
Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies92,355 88,503 90,911 92,780 97,911 (1)(6)
Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies43,034 45,675 52,439 57,803 71,062 (34)(39)
Total core loans$28,363,712 $26,259,487 $25,402,132 $24,592,729 $24,088,651 20 %18 %
Niche loans:
Commercial
Franchise$1,191,686 $1,150,460 $1,122,302 $1,092,532 $1,074,162 12 %11 %
Mortgage warehouse lines of credit750,462 593,519 403,245 230,211 245,450 302 206 
Community Advantage - homeowners association501,645 491,722 475,832 452,734 424,054 14 18 
Insurance agency lending1,048,686 1,030,119 964,022 921,653 890,197 18 18 
Premium Finance receivables
U.S. property & casualty insurance6,253,271 6,142,654 6,113,993 5,983,103 5,815,346 6 8 
Canada property & casualty insurance878,410 958,099 826,026 920,426 907,401 (6)(3)
Life insurance7,996,899 7,962,115 7,872,033 7,877,943 7,931,808 2 1 
Consumer and other82,676 87,356 51,121 60,500 68,963 49 20 
Total niche loans$18,703,735 $18,416,044 $17,828,574 $17,539,102 $17,357,381 9 %8 %
Total loans, net of unearned income$47,067,447 $44,675,531 $43,230,706 $42,131,831 $41,446,032 16 %14 %
(1)Annualized.

16
TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES

    % Growth From
(Dollars in thousands)Sep 30,
2024		Jun 30,
2024		Mar 31,
2024		Dec 31,
2023		Sep 30,
2023
Jun 30,
2024 (1)
Sep 30, 2023
Balance:
Non-interest-bearing$10,739,132$10,031,440$9,908,183$10,420,401$10,347,00628 %4 %
NOW and interest-bearing demand deposits5,466,9325,053,9095,720,9475,797,6496,006,11433 (9)
Wealth management deposits (2)
1,303,3541,490,7111,347,8171,614,4991,788,099(50)(27)
Money market17,713,72616,320,01715,617,71715,149,21514,478,50434 22 
Savings6,183,2495,882,1795,959,7745,790,3345,584,29420 11 
Time certificates of deposit9,998,5739,270,7707,894,4206,625,0726,788,66931 47 
Total deposits $51,404,966$48,049,026$46,448,858$45,397,170$44,992,68628 %14 %
Mix:
Non-interest-bearing21 %21 %21 %23 %23 %
NOW and interest-bearing demand deposits11 11 12 13 13 
Wealth management deposits (2)
3 3 3 4 4 
Money market34 34 34 33 32 
Savings12 12 13 13 13 
Time certificates of deposit19 19 17 14 15 
Total deposits100 %100 %100 %100 %100 %
(1)Annualized.
(2)Represents deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), and trust and asset management customers of the Company.

TABLE 3: TIME CERTIFICATES OF DEPOSIT MATURITY/RE-PRICING ANALYSIS
As of September 30, 2024
(Dollars in thousands)Total Time
Certificates of
Deposit		Weighted-Average
Rate of Maturing
Time Certificates
    of Deposit
1-3 months$3,125,473 4.71 %
4-6 months3,238,465 4.55 
7-9 months2,624,913 4.39 
10-12 months619,340 4.05 
13-18 months239,018 3.48 
19-24 months89,361 2.82 
24+ months62,003 2.29 
Total$9,998,573 4.47 %

17
TABLE 4: QUARTERLY AVERAGE BALANCES
 Average Balance for three months ended,
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(In thousands)20242024202420232023
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$2,413,728 $1,485,481 $1,254,332 $1,682,176 $2,053,568 
Investment securities (2)
8,276,576 8,203,764 8,349,796 7,971,068 7,706,285 
FHLB and FRB stock263,707 253,614 230,648 204,593 201,252 
Liquidity management assets (3)
$10,954,011 $9,942,859 $9,834,776 $9,857,837 $9,961,105 
Other earning assets (3)(4)
17,542 15,257 15,081 14,821 17,879 
Mortgage loans held-for-sale376,251 347,236 290,275 279,569 319,099 
Loans, net of unearned income (3)(5)
45,920,586 43,819,354 42,129,893 41,361,952 40,707,042 
Total earning assets (3)
$57,268,390 $54,124,706 $52,270,025 $51,514,179 $51,005,125 
Allowance for loan and investment security losses(383,736)(360,504)(361,734)(329,441)(319,491)
Cash and due from banks467,333 434,916 450,267 443,989 459,819 
Other assets3,563,296 3,294,066 3,244,137 3,388,348 3,236,528 
Total assets
$60,915,283 $57,493,184 $55,602,695 $55,017,075 $54,381,981 
NOW and interest-bearing demand deposits$5,174,673 $4,985,306 $5,680,265 $5,868,976 $5,815,155 
Wealth management deposits1,362,747 1,531,865 1,510,203 1,704,099 1,512,765 
Money market accounts16,436,111 15,272,126 14,474,492 14,212,320 14,155,446 
Savings accounts6,096,746 5,878,844 5,792,118 5,676,155 5,472,535 
Time deposits9,598,109 8,546,172 7,148,456 6,645,980 6,495,906 
Interest-bearing deposits$38,668,386 $36,214,313 $34,605,534 $34,107,530 $33,451,807 
Federal Home Loan Bank advances3,178,973 3,096,920 2,728,849 2,326,073 2,241,292 
Other borrowings622,792 587,262 627,711 633,673 657,454 
Subordinated notes298,135 410,331 437,893 437,785 437,658 
Junior subordinated debentures253,566 253,566 253,566 253,566 253,566 
Total interest-bearing liabilities
$43,021,852 $40,562,392 $38,653,553 $37,758,627 $37,041,777 
Non-interest-bearing deposits10,271,613 9,879,134 9,972,646 10,406,585 10,612,009 
Other liabilities1,631,389 1,601,485 1,536,039 1,785,667 1,644,312 
Equity5,990,429 5,450,173 5,440,457 5,066,196 5,083,883 
Total liabilities and shareholders’ equity
$60,915,283 $57,493,184 $55,602,695 $55,017,075 $54,381,981 
Net free funds/contribution (6)
$14,246,538 $13,562,314 $13,616,472 $13,755,552 $13,963,348 
(1)Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
(2)Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.
(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(4)Other earning assets include brokerage customer receivables and trading account securities.
(5)Loans, net of unearned income, include non-accrual loans.
(6)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

18
TABLE 5: QUARTERLY NET INTEREST INCOME

 Net Interest Income for three months ended,
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(In thousands)20242024202420232023
Interest income:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents$32,885 $19,748 $16,677 $22,340 $28,022 
Investment securities70,260 70,346 70,228 68,812 59,737 
FHLB and FRB stock5,451 4,974 4,478 3,792 3,896 
Liquidity management assets (1)
$108,596 $95,068 $91,383 $94,944 $91,655 
Other earning assets (1)
282 235 198 222 291 
Mortgage loans held-for-sale6,233 5,434 4,146 4,318 4,767 
Loans, net of unearned income (1)
796,637 752,117 712,587 697,093 668,183 
Total interest income$911,748 $852,854 $808,314 $796,577 $764,896 
Interest expense:
NOW and interest-bearing demand deposits$30,971 $32,719 $34,896 $38,124 $36,001 
Wealth management deposits10,158 10,294 10,461 12,076 9,350 
Money market accounts167,382 155,100 137,984 130,252 124,742 
Savings accounts42,892 41,063 39,071 36,463 31,784 
Time deposits110,616 96,527 77,120 68,475 60,906 
Interest-bearing deposits$362,019 $335,703 $299,532 $285,390 $262,783 
Federal Home Loan Bank advances26,254 24,797 22,048 18,316 17,436 
Other borrowings9,013 8,700 9,248 9,557 9,384 
Subordinated notes3,712 5,185 5,487 5,522 5,491 
Junior subordinated debentures5,023 4,984 5,004 5,089 4,948 
Total interest expense$406,021 $379,369 $341,319 $323,874 $300,042 
Less: Fully taxable-equivalent adjustment(3,144)(2,875)(2,801)(2,729)(2,496)
Net interest income (GAAP) (2)
502,583 470,610 464,194 469,974 462,358 
Fully taxable-equivalent adjustment3,144 2,875 2,801 2,729 2,496 
Net interest income, fully taxable-equivalent (non-GAAP) (2)
$505,727 $473,485 $466,995 $472,703 $464,854 
(1)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.
(2)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

19
TABLE 6: QUARTERLY NET INTEREST MARGIN

 Net Interest Margin for three months ended,
Sep 30, 2024Jun 30, 2024Mar 31,
2024		Dec 31, 2023Sep 30,
2023
Yield earned on:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents5.42 %5.35 %5.35 %5.27 %5.41 %
Investment securities3.38 3.45 3.38 3.42 3.08 
FHLB and FRB stock8.22 7.89 7.81 7.35 7.68 
Liquidity management assets3.94 %3.85 %3.74 %3.82 %3.65 %
Other earning assets6.38 6.23 5.25 5.92 6.47 
Mortgage loans held-for-sale6.59 6.29 5.74 6.13 5.93 
Loans, net of unearned income6.90 6.90 6.80 6.69 6.51 
Total earning assets6.33 %6.34 %6.22 %6.13 %5.95 %
Rate paid on:
NOW and interest-bearing demand deposits2.38 %2.64 %2.47 %2.58 %2.46 %
Wealth management deposits2.97 2.70 2.79 2.81 2.45 
Money market accounts4.05 4.08 3.83 3.64 3.50 
Savings accounts2.80 2.81 2.71 2.55 2.30 
Time deposits4.58 4.54 4.34 4.09 3.72 
Interest-bearing deposits3.72 %3.73 %3.48 %3.32 %3.12 %
Federal Home Loan Bank advances3.29 3.22 3.25 3.12 3.09 
Other borrowings5.76 5.96 5.92 5.98 5.66 
Subordinated notes4.95 5.08 5.04 5.00 4.98 
Junior subordinated debentures7.88 7.91 7.94 7.96 7.74 
Total interest-bearing liabilities3.75 %3.76 %3.55 %3.40 %3.21 %
Interest rate spread (1)(2)
2.58 %2.58 %2.67 %2.73 %2.74 %
Less: Fully taxable-equivalent adjustment(0.02)(0.02)(0.02)(0.02)(0.02)
Net free funds/contribution (3)
0.93 0.94 0.92 0.91 0.88 
Net interest margin (GAAP) (2)
3.49 %3.50 %3.57 %3.62 %3.60 %
Fully taxable-equivalent adjustment0.02 0.02 0.02 0.02 0.02 
Net interest margin, fully taxable-equivalent (non-GAAP) (2)
3.51 %3.52 %3.59 %3.64 %3.62 %
(1)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
(2)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(3)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.




20
TABLE 7: YEAR-TO-DATE AVERAGE BALANCES, AND NET INTEREST INCOME AND MARGIN

 
Average Balance
for nine months ended,
Interest
for nine months ended,
Yield/Rate
for nine months ended,
(Dollars in thousands)Sep 30, 2024Sep 30,
2023		Sep 30, 2024Sep 30, 2023Sep 30, 2024Sep 30, 2023
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$1,720,387 $1,584,120 $69,310 $58,443 5.38 %4.93 %
Investment securities (2)
8,276,711 7,637,612 210,834 172,025 3.40 3.01 
FHLB and FRB stock249,375 219,442 14,903 11,120 7.98 6.77 
Liquidity management assets (3)(4)
$10,246,473 $9,441,174 $295,047 $241,588 3.85 %3.42 %
Other earning assets (3)(4)(5)
15,966 17,906 715 876 5.98 6.54 
Mortgage loans held-for-sale338,061 299,426 15,813 12,473 6.25 5.57 
Loans, net of unearned income (3)(4)(6)
43,963,779 39,974,840 2,261,341 1,851,686 6.87 6.19 
Total earning assets (4)
$54,564,279 $49,733,346 $2,572,916 $2,106,623 6.30 %5.66 %
Allowance for loan and investment security losses(368,713)(301,742)
Cash and due from banks450,899 476,490 
Other assets3,367,882 3,120,105 
Total assets
$58,014,347 $53,028,199 
NOW and interest-bearing demand deposits$5,279,697 $5,544,488 $98,586 $83,949 2.49 %2.02 %
Wealth management deposits1,467,886 1,739,427 30,913 30,705 2.81 2.36 
Money market accounts15,398,045 13,480,887 460,466 299,649 3.99 2.97 
Savings accounts5,923,205 5,172,174 123,026 73,203 2.77 1.89 
Time deposits8,435,172 5,718,850 284,263 133,574 4.50 3.12 
Interest-bearing deposits$36,504,005 $31,655,826 $997,254 $621,080 3.65 %2.62 %
Federal Home Loan Bank advances3,002,228 2,313,571 73,099 53,970 3.25 3.12 
Other borrowings612,627 628,915 26,961 25,723 5.88 5.47 
Subordinated notes381,813 437,543 14,384 16,502 5.03 5.04 
Junior subordinated debentures253,566 253,566 15,011 14,101 7.91 7.44 
Total interest-bearing liabilities
$40,754,239 $35,289,421 $1,126,709 $731,376 3.69 %2.77 %
Non-interest-bearing deposits10,041,972 11,224,841 
Other liabilities1,589,790 1,505,289 
Equity5,628,346 5,008,648 
Total liabilities and shareholders’ equity
$58,014,347 $53,028,199 
Interest rate spread (4)(7)
2.61 %2.89 %
Less: Fully taxable-equivalent adjustment(8,820)(7,357)(0.02)(0.02)
Net free funds/contribution (8)
$13,810,040 $14,443,925 0.93 0.81 
Net interest income/margin (GAAP) (4)
$1,437,387 $1,367,890 3.52 %3.68 %
Fully taxable-equivalent adjustment8,820 7,3570.02 0.02 
Net interest income/margin, fully taxable-equivalent (non-GAAP) (4)
$1,446,207 $1,375,247 3.54 %3.70 %
(1)Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
(2)Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.
(3)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.
(4)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(5)Other earning assets include brokerage customer receivables and trading account securities.
(6)Loans, net of unearned income, include non-accrual loans.
(7)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
(8)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.
21
TABLE 8: INTEREST RATE SENSITIVITY

As an ongoing part of its financial strategy, the Company attempts to manage the impact of fluctuations in market interest rates on net interest income. Management measures its exposure to changes in interest rates by modeling many different interest rate scenarios.

The following interest rate scenarios display the percentage change in net interest income over a one-year time horizon assuming increases and decreases of 100 and 200 basis points. The Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet. Conversely, the Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months. Actual results may differ from these simulated results due to timing, magnitude, and frequency of interest rate changes as well as changes in market conditions and management strategies. The interest rate sensitivity for both the Static Shock and Ramp Scenario is as follows:

Static Shock Scenario+200 Basis Points+100 Basis Points-100 Basis Points-200 Basis Points
Sep 30, 20241.2 %1.1 %0.4 %(0.9)%
Jun 30, 20241.5 1.0 0.6 (0.0)
Mar 31, 20241.9 1.4 1.5 1.6 
Dec 31, 20232.6 1.8 0.4 (0.7)
Sep 30, 20233.3 1.9 (2.0)(5.2)

Ramp Scenario+200 Basis Points+100 Basis Points-100 Basis Points-200 Basis Points
Sep 30, 20241.6 %1.2 %0.7 %0.5 %
Jun 30, 20241.2 1.0 0.9 1.0 
Mar 31, 20240.8 0.6 1.3 2.0 
Dec 31, 20231.6 1.2 (0.3)(1.5)
Sep 30, 20231.7 1.2 (0.5)(2.4)

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. Given the recent unprecedented rise in interest rates, the Company has made a conscious effort to reposition its exposure to changing interest rates given the uncertainty of the future interest rate environment. To this end, management has executed various derivative instruments including collars and receive fixed swaps to hedge variable rate loan exposures and originated a higher percentage of its loan originations in longer term fixed rate loans. The Company will continue to monitor current and projected interest rates and may execute additional derivatives to mitigate potential fluctuations in the net interest margin in future periods.


22
TABLE 9: MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES
Loans repricing or contractual maturity period
As of September 30, 2024One year or
less		From one to
five years		From five to fifteen yearsAfter fifteen yearsTotal
(In thousands)
Commercial
Fixed rate$442,214 $3,352,273 $1,914,643 $23,532 $5,732,662 
Variable rate9,513,446 1,585 — — 9,515,031 
Total commercial$9,955,660 $3,353,858 $1,914,643 $23,532 $15,247,693 
Commercial real estate
Fixed rate$570,054 $2,866,473 $420,951 $55,521 $3,912,999 
Variable rate8,868,451 11,899 68 — 8,880,418 
Total commercial real estate$9,438,505 $2,878,372 $421,019 $55,521 $12,793,417 
Home equity
Fixed rate$8,588 $1,593 $— $22 $10,203 
Variable rate416,840 — — — 416,840 
Total home equity$425,428 $1,593 $— $22 $427,043 
Residential real estate
Fixed rate$7,088 $5,468 $75,934 $1,086,008 $1,174,498 
Variable rate92,075 512,374 1,609,091 — 2,213,540 
Total residential real estate$99,163 $517,842 $1,685,025 $1,086,008 $3,388,038 
Premium finance receivables - property & casualty
Fixed rate$7,049,022 $82,659 $— $— $7,131,681 
Variable rate— — — — — 
Total premium finance receivables - property & casualty$7,049,022 $82,659 $— $— $7,131,681 
Premium finance receivables - life insurance
Fixed rate$160,090 $444,534 $4,000 $4,654 $613,278 
Variable rate7,383,621 — — — 7,383,621 
Total premium finance receivables - life insurance$7,543,711 $444,534 $4,000 $4,654 $7,996,899 
Consumer and other
Fixed rate$17,226 $7,218 $841 $998 $26,283 
Variable rate56,393 — — — 56,393 
Total consumer and other$73,619 $7,218 $841 $998 $82,676 
Total per category
Fixed rate$8,254,282 $6,760,218 $2,416,369 $1,170,735 $18,601,604 
Variable rate26,330,826 525,858 1,609,159 — 28,465,843 
Total loans, net of unearned income$34,585,108 $7,286,076 $4,025,528 $1,170,735 $47,067,447 
Less: Existing cash flow hedging derivatives(6,000,000)
Less: Cash flow hedging derivatives effective in Q4 2024(700,000)
Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity$27,885,108 
Variable Rate Loan Pricing by Index:
SOFR tenors$17,155,288 
12- month CMT6,242,461 
Prime3,545,047 
Fed Funds951,119 
Ameribor tenors237,486 
Other U.S. Treasury tenors196,990 
Other137,452 
Total variable rate$28,465,843 
SOFR - Secured Overnight Financing Rate.
CMT - Constant Maturity Treasury Rate.
Ameribor - American Interbank Offered Rate.


23
liborerq32024gca.jpg
Source: Bloomberg

As noted in the table on the previous page, the majority of the Company’s portfolio is tied to SOFR and CMT indices which, as shown in the table above, do not mirror the same changes as the Prime rate which has historically moved when the Federal Reserve raises or lowers interest rates. Specifically, the Company has variable rate loans of $13.7 billion tied to one-month SOFR and $6.2 billion tied to twelve-month CMT. The above chart shows:

Basis Point (bp) Change in
1-month
SOFR		12- month CMTPrime
Third Quarter 2024(49)bps(111)bps(50)bps
Second Quarter 202416 0
First Quarter 2024(2)240
Fourth Quarter 20233(67)0
Third Quarter 202318625


24
TABLE 10: ALLOWANCE FOR CREDIT LOSSES
Three Months EndedNine Months Ended
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,Sep 30,
(Dollars in thousands)2024202420242023202320242023
Allowance for credit losses at beginning of period$437,560 $427,504 $427,612 $399,531 $387,786 $427,612 $357,936 
Cumulative effect adjustment from the adoption of ASU 2022-02— — — — — — 741 
Provision for credit losses - Other6,787 40,061 21,673 42,908 19,923 68,521 71,482 
Provision for credit losses - Day 1 on non-PCD assets acquired during the period15,547 — — — — 15,547 — 
Initial allowance for credit losses recognized on PCD assets acquired during the period3,004 — — — — 3,004 — 
Other adjustments30 (19)(31)62 (60)(20)(15)
Charge-offs:
Commercial22,975 9,584 11,215 5,114 2,427 43,774 10,599 
Commercial real estate95 15,526 5,469 5,386 1,713 21,090 9,842 
Home equity— — 74 — 227 74 227 
Residential real estate— 23 38 114 78 61 78 
Premium finance receivables - property & casualty7,790 9,486 6,938 6,706 5,830 24,214 14,978 
Premium finance receivables - life insurance4 — — — 18 4 173 
Consumer and other154 137 107 148 184 398 447 
Total charge-offs31,018 34,756 23,841 17,468 10,477 89,615 36,344 
Recoveries:
Commercial649 950 479 592 1,162 2,078 2,059 
Commercial real estate30 90 31 92 243 151 368 
Home equity101 35 29 34 33 165 105 
Residential real estate5 8 2 10 1 15 11 
Premium finance receivables - property & casualty3,436 3,658 1,519 1,820 906 8,613 3,110 
Premium finance receivables - life insurance41 5 8 7 — 54 9 
Consumer and other21 24 23 24 14 68 69 
Total recoveries4,283 4,770 2,091 2,579 2,359 11,144 5,731 
Net charge-offs(26,735)(29,986)(21,750)(14,889)(8,118)(78,471)(30,613)
Allowance for credit losses at period end$436,193 $437,560 $427,504 $427,612 $399,531 $436,193 $399,531 
Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
Commercial0.61 %0.25 %0.33 %0.14 %0.04 %0.41 %0.09 %
Commercial real estate0.00 0.53 0.19 0.19 0.05 0.23 0.12 
Home equity(0.10)(0.04)0.05 (0.04)0.23 (0.03)0.05 
Residential real estate0.00 0.00 0.01 0.02 0.01 0.00 0.00 
Premium finance receivables - property & casualty0.24 0.33 0.32 0.29 0.29 0.30 0.26 
Premium finance receivables - life insurance0.00 (0.00)(0.00)(0.00)0.00 (0.00)0.00 
Consumer and other0.63 0.56 0.42 0.58 0.65 0.54 0.60 
Total loans, net of unearned income0.23 %0.28 %0.21 %0.14 %0.08 %0.24 0.10 %
Loans at period end$47,067,447 $44,675,531 $43,230,706 $42,131,831 $41,446,032 
Allowance for loan losses as a percentage of loans at period end0.77 %0.81 %0.81 %0.82 %0.76 %
Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end0.93 0.98 0.99 1.01 0.96 

25
TABLE 11: ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT

Three Months EndedNine Months Ended
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,Sep 30,
(In thousands)2024202420242023202320242023
Provision for loan losses - Other$6,782 $45,111 $26,159 $44,023 $20,717 $78,052 $74,753 
Provision for credit losses - Day 1 on non-PCD assets acquired during the period15,547 — — — — 15,547 — 
Provision for unfunded lending-related commitments losses - Other17 (5,212)(4,468)(1,081)(769)(9,663)(3,164)
Provision for held-to-maturity securities losses(12)162 (18)(34)(25)132 (107)
Provision for credit losses$22,334 $40,061 $21,673 $42,908 $19,923 $84,068 $71,482 
Allowance for loan losses$360,279 $363,719 $348,612 $344,235 $315,039 
Allowance for unfunded lending-related commitments losses75,435 73,350 78,563 83,030 84,111 
Allowance for loan losses and unfunded lending-related commitments losses435,714 437,069 427,175 427,265 399,150 
Allowance for held-to-maturity securities losses479 491 329 347 381 
Allowance for credit losses$436,193 $437,560 $427,504 $427,612 $399,531 
    

TABLE 12: ALLOWANCE BY LOAN PORTFOLIO

The table below summarizes the calculation of allowance for loan losses and allowance for unfunded lending-related commitments losses for the Company’s loan portfolios as well as core and niche portfolios, as of September 30, 2024, June 30, 2024 and March 31, 2024.
 As of Sep 30, 2024As of Jun 30, 2024As of Mar 31, 2024
(Dollars in thousands)Recorded
Investment		Calculated
Allowance		% of its
category’s balance		Recorded
Investment		Calculated
Allowance		% of its
category’s balance		Recorded
Investment		Calculated
Allowance		% of its
category’s balance
Commercial:
Commercial, industrial and other$15,247,693 $171,598 1.13 %$14,154,462 $181,991 1.29 %$13,503,481 $166,518 1.23 %
Commercial real estate:
Construction and development2,403,690 97,949 4.07 2,260,551 93,154 4.12 2,150,314 96,052 4.47 
Non-construction10,389,727 133,195 1.28 9,686,646 130,574 1.35 9,483,123 130,000 1.37 
Home equity427,043 8,823 2.07 356,313 7,242 2.03 340,349 7,191 2.11 
Residential real estate3,388,038 9,745 0.29 3,067,335 8,773 0.29 2,890,266 13,701 0.47 
Premium finance receivables
Property and casualty insurance7,131,681 13,045 0.18 7,100,753 14,053 0.20 6,940,019 12,645 0.18 
Life insurance7,996,899 698 0.01 7,962,115 693 0.01 7,872,033 685 0.01 
Consumer and other82,676 661 0.80 87,356 589 0.67 51,121 383 0.75 
Total loans, net of unearned income$47,067,447 $435,714 0.93 %$44,675,531 $437,069 0.98 %$43,230,706 $427,175 0.99 %
Total core loans (1)
$28,363,712 $396,394 1.40 %$26,259,487 $398,494 1.52 %$25,402,132 $382,372 1.51 %
Total niche loans (1)
18,703,735 39,320 0.21 18,416,044 38,575 0.21 17,828,574 44,803 0.25 
(1)See Table 1 for additional detail on core and niche loans.


26
TABLE 13: LOAN PORTFOLIO AGING

(In thousands)Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023
Loan Balances:
Commercial
Nonaccrual$63,826 $51,087 $31,740 $38,940 $43,569 
90+ days and still accruing20 304 27 98 200 
60-89 days past due32,560 16,485 30,248 19,488 22,889 
30-59 days past due46,057 36,358 77,715 85,743 35,681 
Current15,105,230 14,050,228 13,363,751 12,687,784 12,623,134 
Total commercial$15,247,693 $14,154,462 $13,503,481 $12,832,053 $12,725,473 
Commercial real estate
Nonaccrual$42,071 $48,289 $39,262 $35,459 $17,043 
90+ days and still accruing225 — — — 1,092 
60-89 days past due13,439 6,555 16,713 8,515 7,395 
30-59 days past due48,346 38,065 32,998 20,634 60,984 
Current12,689,336 11,854,288 11,544,464 11,279,556 10,859,666 
Total commercial real estate$12,793,417 $11,947,197 $11,633,437 $11,344,164 $10,946,180 
Home equity
Nonaccrual$1,122 $1,100 $838 $1,341 $1,363 
90+ days and still accruing— — — — — 
60-89 days past due1,035 275 212 62 219 
30-59 days past due2,580 1,229 1,617 2,263 1,668 
Current422,306 353,709 337,682 340,310 340,008 
Total home equity$427,043 $356,313 $340,349 $343,976 $343,258 
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies (1)
$135,389 $134,178 $143,350 $150,583 $168,973 
Nonaccrual17,959 18,198 17,901 15,391 16,103 
90+ days and still accruing— — — — — 
60-89 days past due6,364 1,977 — 2,325 1,145 
30-59 days past due2,160 130 24,523 22,942 904 
Current3,226,166 2,912,852 2,704,492 2,578,425 2,520,478 
Total residential real estate$3,388,038 $3,067,335 $2,890,266 $2,769,666 $2,707,603 
Premium finance receivables - property & casualty
Nonaccrual$36,079 $32,722 $32,648 $27,590 $26,756 
90+ days and still accruing18,235 22,427 25,877 20,135 16,253 
60-89 days past due18,740 29,925 15,274 23,236 16,552 
30-59 days past due30,204 45,927 59,729 50,437 31,919 
Current7,028,423 6,969,752 6,806,491 6,782,131 6,631,267 
Total Premium finance receivables - property & casualty$7,131,681 $7,100,753 $6,940,019 $6,903,529 $6,722,747 
Premium finance receivables - life insurance
Nonaccrual$— $— $— $— $— 
90+ days and still accruing— — — — 10,679 
60-89 days past due10,902 4,118 32,482 16,206 41,894 
30-59 days past due74,432 17,693 100,137 45,464 14,972 
Current7,911,565 7,940,304 7,739,414 7,816,273 7,864,263 
Total Premium finance receivables - life insurance$7,996,899 $7,962,115 $7,872,033 $7,877,943 $7,931,808 
Consumer and other
Nonaccrual$2 $3 $19 $22 $16 
90+ days and still accruing148 121 47 54 27 
60-89 days past due22 81 16 25 196 
30-59 days past due264 366 210 165 519 
Current82,240 86,785 50,829 60,234 68,205 
Total consumer and other$82,676 $87,356 $51,121 $60,500 $68,963 
Total loans, net of unearned income
Early buy-out loans guaranteed by U.S. government agencies (1)
$135,389 $134,178 $143,350 $150,583 $168,973 
Nonaccrual161,059 151,399 122,408 118,743 104,850 
90+ days and still accruing18,628 22,852 25,951 20,287 28,251 
60-89 days past due83,062 59,416 94,945 69,857 90,290 
30-59 days past due204,043 139,768 296,929 227,648 146,647 
Current46,465,266 44,167,918 42,547,123 41,544,713 40,907,021 
Total loans, net of unearned income$47,067,447 $44,675,531 $43,230,706 $42,131,831 $41,446,032 
(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.
27
TABLE 14: NON-PERFORMING ASSETS(1)
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands)20242024202420232023
Loans past due greater than 90 days and still accruing:
Commercial$20 $304 $27 $98 $200 
Commercial real estate225 — — — 1,092 
Home equity— — — — — 
Residential real estate— — — — — 
Premium finance receivables - property & casualty18,235 22,427 25,877 20,135 16,253 
Premium finance receivables - life insurance— — — — 10,679 
Consumer and other148 121 47 54 27 
Total loans past due greater than 90 days and still accruing18,628 22,852 25,951 20,287 28,251 
Non-accrual loans:
Commercial63,826 51,087 31,740 38,940 43,569 
Commercial real estate42,071 48,289 39,262 35,459 17,043 
Home equity1,122 1,100 838 1,341 1,363 
Residential real estate17,959 18,198 17,901 15,391 16,103 
Premium finance receivables - property & casualty36,079 32,722 32,648 27,590 26,756 
Premium finance receivables - life insurance— — — — — 
Consumer and other2 3 19 22 16 
Total non-accrual loans161,059 151,399 122,408 118,743 104,850 
Total non-performing loans:
Commercial63,846 51,391 31,767 39,038 43,769 
Commercial real estate42,296 48,289 39,262 35,459 18,135 
Home equity1,122 1,100 838 1,341 1,363 
Residential real estate17,959 18,198 17,901 15,391 16,103 
Premium finance receivables - property & casualty54,314 55,149 58,525 47,725 43,009 
Premium finance receivables - life insurance— — — — 10,679 
Consumer and other150 124 66 76 43 
Total non-performing loans$179,687 $174,251 $148,359 $139,030 $133,101 
Other real estate owned13,682 19,731 14,538 13,309 14,060 
Total non-performing assets$193,369 $193,982 $162,897 $152,339 $147,161 
Total non-performing loans by category as a percent of its own respective category’s period-end balance:
Commercial0.42 %0.36 %0.24 %0.30 %0.34 %
Commercial real estate0.33 0.40 0.34 0.31 0.17 
Home equity0.26 0.31 0.25 0.39 0.40 
Residential real estate0.53 0.59 0.62 0.56 0.59 
Premium finance receivables - property & casualty0.76 0.78 0.84 0.69 0.64 
Premium finance receivables - life insurance— — — — 0.13 
Consumer and other0.18 0.14 0.13 0.13 0.06 
Total loans, net of unearned income0.38 %0.39 %0.34 %0.33 %0.32 %
Total non-performing assets as a percentage of total assets0.30 %0.32 %0.28 %0.27 %0.26 %
Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans270.53 %288.69 %348.98 %359.82 %380.69 %
(1)Excludes early buy-out loans guaranteed by U.S. government agencies. Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.


28
Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies
 Three Months EndedNine Months Ended
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,Sep 30,
(In thousands)2024202420242023202320242023
Balance at beginning of period$174,251 $148,359 $139,030 $133,101 $108,712 $139,030 $100,697 
Additions from becoming non-performing in the respective period42,335 54,376 23,142 59,010 18,666 96,711 64,367 
Additions from assets acquired in the respective period189 — — — — 189 — 
Return to performing status(362)(912)(490)(24,469)(1,702)(1,274)(2,542)
Payments received(10,894)(9,611)(8,336)(10,000)(6,488)(20,505)(24,063)
Transfer to OREO and other repossessed assets(3,680)(6,945)(1,381)(2,623)(2,671)(10,625)(5,629)
Charge-offs, net(21,211)(7,673)(14,810)(9,480)(3,011)(28,884)(6,866)
Net change for premium finance receivables(941)(3,343)11,204 (6,509)19,595 (4,284)7,137 
Balance at end of period$179,687 $174,251 $148,359 $139,030 $133,101 $170,358 $133,101 


Other Real Estate Owned
 Three Months Ended
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(In thousands)20242024202420232023
Balance at beginning of period$19,731 $14,538 $13,309 $14,060 $11,586 
Disposals/resolved(9,729)(1,752)— (3,416)(467)
Transfers in at fair value, less costs to sell3,680 6,945 1,436 2,665 2,941 
Fair value adjustments— — (207)— — 
Balance at end of period$13,682 $19,731 $14,538 $13,309 $14,060 
 Period End
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
Balance by Property Type:20242024202420232023
Residential real estate$— $161 $1,146 $720 $441 
Commercial real estate13,682 19,570 13,392 12,589 13,619 
Total$13,682 $19,731 $14,538 $13,309 $14,060 
29
TABLE 15: NON-INTEREST INCOME
Three Months Ended
Q3 2024 compared to
Q2 2024
Q3 2024 compared to
Q3 2023
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands)20242024202420232023$ Change% Change$ Change% Change
Brokerage$6,139 $5,588 $5,556 $5,349 $4,359 $551 10 %$1,780 41 %
Trust and asset management31,085 29,825 29,259 27,926 29,170 1,260 4 1,915 7 
Total wealth management37,224 35,413 34,815 33,275 33,529 1,811 5 3,695 11 
Mortgage banking15,974 29,124 27,663 7,433 27,395 (13,150)(45)(11,421)(42)
Service charges on deposit accounts16,430 15,546 14,811 14,522 14,217 884 6 2,213 16 
Gains (losses) on investment securities, net3,189 (4,282)1,326 2,484 (2,357)7,471 NM5,546 NM
Fees from covered call options988 2,056 4,847 4,679 4,215 (1,068)(52)(3,227)(77)
Trading (losses) gains, net(130)70 677 (505)728 (200)NM(858)NM
Operating lease income, net15,335 13,938 14,110 14,162 13,863 1,397 10 1,472 11 
Other:
Interest rate swap fees2,914 3,392 2,828 4,021 2,913 (478)(14)1 — 
BOLI1,517 1,351 1,651 1,747 729 166 12 788 NM
Administrative services1,450 1,322 1,217 1,329 1,336 128 10 114 9 
Foreign currency remeasurement gains (losses)696 (145)(1,171)1,150 (446)841 NM1,142 NM
Changes in fair value on EBOs and loans held-for-investment518 604 (439)1,556 (338)(86)(14)856 NM
Early pay-offs of capital leases532 393 430 157 461 139 35 71 15 
Miscellaneous16,510 22,365 37,815 14,819 16,233 (5,855)(26)277 2 
Total Other24,137 29,282 42,331 24,779 20,888 (5,145)(18)3,249 16 
Total Non-Interest Income$113,147 $121,147 $140,580 $100,829 $112,478 $(8,000)(7)%$669 1 %

Nine Months Ended
Sep 30,Sep 30,$%
(Dollars in thousands)20242023ChangeChange
Brokerage$17,283 $13,296 $3,987 30 %
Trust and asset management90,169 84,036 6,133 7 
Total wealth management107,452 97,332 10,120 10 
Mortgage banking72,761 75,640 (2,879)(4)
Service charges on deposit accounts46,787 40,728 6,059 15 
Gains (losses) on investment securities, net233 (959)1,192 NM
Fees from covered call options7,891 17,184 (9,293)(54)
Trading gains, net617 1,647 (1,030)(63)
Operating lease income, net43,383 39,136 4,247 11 
Other:
Interest rate swap fees9,134 8,230 904 11 
BOLI4,519 3,402 1,117 33 
Administrative services3,989 4,270 (281)(7)
Foreign currency remeasurement losses(620)(91)(529)NM
Changes in fair value on EBOs and loans held-for-investment683 (35)718 NM
Early pay-offs of capital leases1,355 1,027 328 32 
Miscellaneous76,690 45,766 30,924 68 
Total Other95,750 62,569 33,181 53 
Total Non-Interest Income$374,874 $333,277 $41,597 12 %
NM - Not meaningful.
BOLI - Bank-owned life insurance.
30
TABLE 16: MORTGAGE BANKING
Three Months EndedNine Months Ended
(Dollars in thousands)Sep 30,
2024		Jun 30,
2024		Mar 31,
2024		Dec 31,
2023		Sep 30,
2023		Sep 30,
2024		Sep 30,
2023
Originations:
Retail originations$527,408 $544,394 $331,504 $315,637 $408,761 $1,403,306 $1,071,786 
Veterans First originations239,369 177,792 144,109 123,564 163,856 561,270 451,218 
Total originations for sale (A)$766,777 $722,186 $475,613 $439,201 $572,617 $1,964,576 $1,523,004 
Originations for investment218,984 275,331 169,246 124,974 137,622 663,561 453,597 
Total originations$985,761 $997,517 $644,859 $564,175 $710,239 $2,628,137 $1,976,601 
As a percentage of originations for sale:
Retail originations69 %75 %70 %72 %71 %71 %70 %
Veterans First originations31 25 30 28 29 29 30 
Purchases72 %83 %75 %85 %84 %78 %83 %
Refinances28 17 25 15 16 22 17 
Production Margin:
Production revenue (B) (1)
$13,113 $14,990 $13,435 $6,798 $13,766 $41,538 $34,233 
Total originations for sale (A)$766,777 $722,186 $475,613 $439,201 $572,617 $1,964,576 $1,523,004 
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)
272,072 222,738 207,775 119,624 150,713 272,072 150,713 
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)
222,738 207,775 119,624 150,713 196,246 119,624 113,303 
Total mortgage production volume (C)$816,111 $737,149 $563,764 $408,112 $527,084 $2,117,024 $1,560,414 
Production margin (B / C)1.61 %2.03 %2.38 %1.67 %2.61 %1.96 %2.19 %
Mortgage Servicing:
Loans serviced for others (D)$12,253,361$12,211,027$12,051,392$12,007,165$11,885,531
MSRs, at fair value (E)186,308204,610201,044192,456210,524
Percentage of MSRs to loans serviced for others (E / D)1.52 %1.68 %1.67 %1.60 %1.77 %
Servicing income$10,809 $10,586 $10,498 $10,286 $10,191 $31,893 $33,277 
Components of MSR:
MSR - changes in fair value model assumptions$(17,331)$877 $7,595 $(19,634)$4,723 $(8,859)$485 
Changes in fair value of derivative contract held as an economic hedge, net6,892 (772)(2,577)3,541 (2,481)3,543 (2,261)
MSR - current period capitalization6,357 8,223 5,379 5,077 9,706 19,959 23,533 
MSR - collection of expected cash flows - paydowns(1,598)(1,504)(1,444)(1,572)(1,492)(4,546)(4,712)
MSR - collection of expected cash flows - payoffs and repurchases(5,730)(4,030)(2,942)(1,939)(3,105)(12,702)(8,837)
MSR Activity$(11,410)$2,794 $6,011 $(14,527)$7,351 $(2,605)$8,208 
Summary of Mortgage Banking Revenue:
Production revenue (1)
$13,113 $14,990 $13,435 $6,798 $13,766 $41,538 $34,233 
Servicing income10,809 10,586 10,498 10,286 10,191 31,893 33,277 
MSR activity(11,410)2,794 6,011 (14,527)7,351 (2,605)8,208 
Changes in fair value of early buy-out loans guaranteed by U.S. government agencies (HFS)3,529 642 (2,190)4,856 (4,245)1,981 (440)
Other revenue(67)112 (91)20 332 (46)362 
Total mortgage banking revenue$15,974 $29,124 $27,663 $7,433 $27,395 $72,761 $75,640 
Changes in fair value on early buy-out loans guaranteed by U.S. government agencies (HFI)$518 $604 $(439)$1,556 $(338)$683 $(35)
(1)Production revenue represents revenue earned from the origination and subsequent sale of mortgages, including gains on loans sold and fees from originations, changes in other related financial instruments carried at fair value, processing and other related activities, and excludes servicing fees, changes in the fair value of servicing rights and changes to the mortgage recourse obligation and other non-production revenue.
(2)Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.
31
TABLE 17: NON-INTEREST EXPENSE
Three Months Ended
Q3 2024 compared to
Q2 2024
Q3 2024 compared to
Q3 2023
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands)20242024202420232023$ Change% Change$ Change% Change
Salaries and employee benefits:
Salaries$118,971 $113,860 $112,172 $111,484 $111,303 $5,111 4 %$7,668 7 %
Commissions and incentive compensation57,575 52,151 51,001 48,974 48,817 5,424 10 8,758 18 
Benefits34,715 32,530 32,000 33,513 32,218 2,185 7 2,497 8 
Total salaries and employee benefits211,261 198,541 195,173 193,971 192,338 12,720 6 18,923 10 
Software and equipment31,574 29,231 27,731 27,779 25,951 2,343 8 5,623 22 
Operating lease equipment10,518 10,834 10,683 10,694 12,020 (316)(3)(1,502)(12)
Occupancy, net19,945 19,585 19,086 18,102 21,304 360 2 (1,359)(6)
Data processing9,984 9,503 9,292 8,892 10,773 481 5 (789)(7)
Advertising and marketing18,239 17,436 13,040 17,166 18,169 803 5 70 0 
Professional fees9,783 9,967 9,553 8,768 8,887 (184)(2)896 10 
Amortization of other acquisition-related intangible assets4,042 1,122 1,158 1,356 1,408 2,920 NM2,634 NM
FDIC insurance10,512 10,429 9,381 9,303 9,748 83 1 764 8 
FDIC insurance - special assessment— — 5,156 34,374 — — NM— NM
OREO expense, net(938)(259)392 (1,559)120 (679)NM(1,058)NM
Other:
Lending expenses, net of deferred origination costs4,995 5,335 5,078 5,330 4,777 (340)(6)218 5 
Travel and entertainment5,364 5,340 4,597 5,754 5,449 24 — (85)(2)
Miscellaneous25,408 23,289 22,825 22,722 19,111 2,119 9 6,297 33 
Total other35,767 33,964 32,500 33,806 29,337 1,803 5 6,430 22 
Total Non-Interest Expense$360,687 $340,353 $333,145 $362,652 $330,055 $20,334 6 %$30,632 9 %

Nine Months Ended
Sep 30,Sep 30,$%
(Dollars in thousands)20242023ChangeChange
Salaries and employee benefits:
Salaries$345,003 $327,328 $17,675 5 %
Commissions and incentive compensation160,727 133,127 27,600 21 
Benefits99,245 93,587 5,658 6 
Total salaries and employee benefits604,975 554,042 50,933 9 
Software and equipment88,536 76,853 11,683 15 
Operating lease equipment32,035 31,669 366 1 
Occupancy, net58,616 58,966 (350)(1)
Data processing28,779 29,908 (1,129)(4)
Advertising and marketing48,715 47,909 806 2 
Professional fees29,303 25,990 3,313 13 
Amortization of other acquisition-related intangible assets6,322 4,142 2,180 53 
FDIC insurance30,322 27,425 2,897 11 
FDIC insurance - special assessment5,156 — 5,156 NM
OREO expense, net(805)31 (836)NM
Other:
Lending expenses, net of deferred origination costs15,408 15,766 (358)(2)
Travel and entertainment15,301 15,440 (139)(1)
Miscellaneous71,522 61,706 9,816 16 
Total other102,231 92,912 9,319 10 
Total Non-Interest Expense$1,034,185 $949,847 $84,338 9 %
NM - Not meaningful.
32
TABLE 18: SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES/RATIOS

The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. These include taxable-equivalent net interest income (including its individual components), taxable-equivalent net interest margin (including its individual components), the taxable-equivalent efficiency ratio, tangible common equity ratio, tangible book value per common share, return on average tangible common equity, and pre-tax income, excluding provision for credit losses. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company’s interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

Management reviews yields on certain asset categories and the net interest margin of the Company and its banking subsidiaries on a fully taxable-equivalent basis. In this non-GAAP presentation, net interest income is adjusted to reflect tax-exempt interest income on an equivalent before-tax basis using tax rates effective as of the end of the period. This measure ensures comparability of net interest income arising from both taxable and tax-exempt sources. Net interest income on a fully taxable-equivalent basis is also used in the calculation of the Company’s efficiency ratio. The efficiency ratio, which is calculated by dividing non-interest expense by total taxable-equivalent net revenue (less securities gains or losses), measures how much it costs to produce one dollar of revenue. Securities gains or losses are excluded from this calculation to better match revenue from daily operations to operational expenses. Management considers the tangible common equity ratio and tangible book value per common share as useful measurements of the Company’s equity. The Company references the return on average tangible common equity as a measurement of profitability. Management considers pre-tax income, excluding provision for credit losses, as a useful measurement of the Company’s core net income.
Three Months EndedNine Months Ended
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,Sep 30,
(Dollars and shares in thousands)2024202420242023202320242023
Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
(A) Interest Income (GAAP)$908,604 $849,979 $805,513 $793,848 $762,400 $2,564,096 $2,099,266 
Taxable-equivalent adjustment:
 - Loans
2,474 2,305 2,246 2,150 1,923 7,025 5,677 
 - Liquidity Management Assets668 567 550 575 572 1,785 1,674 
 - Other Earning Assets2 3 5 4 1 10 6 
(B) Interest Income (non-GAAP)$911,748 $852,854 $808,314 $796,577 $764,896 $2,572,916 $2,106,623 
(C) Interest Expense (GAAP)406,021 379,369 341,319 323,874 300,042 1,126,709 731,376 
(D) Net Interest Income (GAAP) (A minus C)$502,583 $470,610 $464,194 $469,974 $462,358 $1,437,387 $1,367,890 
(E) Net Interest Income (non-GAAP) (B minus C)$505,727 $473,485 $466,995 $472,703 $464,854 $1,446,207 $1,375,247 
Net interest margin (GAAP)3.49 %3.50 %3.57 %3.62 %3.60 %3.52 %3.68 %
Net interest margin, fully taxable-equivalent (non-GAAP)3.51 3.52 3.59 3.64 3.62 3.54 3.70 
(F) Non-interest income$113,147 $121,147 $140,580 $100,829 $112,478 $374,874 $333,277 
(G) (Losses) gains on investment securities, net3,189 (4,282)1,326 2,484 (2,357)233 (959)
(H) Non-interest expense360,687 340,353 333,145 362,652 330,055 1,034,185 949,847 
Efficiency ratio (H/(D+F-G))58.88 %57.10 %55.21 %63.81 %57.18 %57.07 %55.80 %
Efficiency ratio (non-GAAP) (H/(E+F-G))58.58 56.83 54.95 63.51 56.94 56.80 55.56 
33
Three Months EndedNine Months Ended
Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,Sep 30,
(Dollars and shares in thousands)2024202420242023202320242023
Reconciliation of Non-GAAP Tangible Common Equity Ratio:
Total shareholders’ equity (GAAP)$6,399,714$5,536,628$5,436,400$5,399,526$5,015,613
Less: Non-convertible preferred stock (GAAP)(412,500)(412,500)(412,500)(412,500)(412,500)
Less: Intangible assets (GAAP)(924,646)(676,562)(677,911)(679,561)(680,353)
(I) Total tangible common shareholders’ equity (non-GAAP)$5,062,568$4,447,566$4,345,989$4,307,465$3,922,760
(J) Total assets (GAAP)$63,788,424$59,781,516$57,576,933$56,259,934$55,555,246
Less: Intangible assets (GAAP)(924,646)(676,562)(677,911)(679,561)(680,353)
(K) Total tangible assets (non-GAAP)$62,863,778$59,104,954$56,899,022$55,580,373$54,874,893
Common equity to assets ratio (GAAP) (L/J)9.4 %8.6 %8.7 %8.9 %8.3 %
Tangible common equity ratio (non-GAAP) (I/K)8.1 7.5 7.6 7.7 7.1 
Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity$6,399,714 $5,536,628 $5,436,400 $5,399,526 $5,015,613 
Less: Preferred stock(412,500)(412,500)(412,500)(412,500)(412,500)
(L) Total common equity$5,987,214 $5,124,128 $5,023,900 $4,987,026 $4,603,113 
(M) Actual common shares outstanding66,482 61,760 61,737 61,244 61,222 
Book value per common share (L/M)$90.06 $82.97 $81.38 $81.43 $75.19 
Tangible book value per common share (non-GAAP) (I/M)76.15 72.01 70.40 70.33 64.07 
Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
(N) Net income applicable to common shares$163,010 $145,397 $180,303 $116,489 $157,207 $488,710 $478,173 
Add: Intangible asset amortization 4,042 1,122 1,158 1,356 1,408 6,322 4,142 
Less: Tax effect of intangible asset amortization(1,087)(311)(291)(343)(380)(1,682)(1,102)
After-tax intangible asset amortization $2,955 $811 $867 $1,013 $1,028 $4,640 $3,040 
(O) Tangible net income applicable to common shares (non-GAAP)$165,965 $146,208 $181,170 $117,502 $158,235 $493,350 $481,213 
Total average shareholders’ equity$5,990,429 $5,450,173 $5,440,457 $5,066,196 $5,083,883 $5,628,346 $5,008,648 
Less: Average preferred stock(412,500)(412,500)(412,500)(412,500)(412,500)(412,500)(412,500)
(P) Total average common shareholders’ equity$5,577,929 $5,037,673 $5,027,957 $4,653,696 $4,671,383 $5,215,846 $4,596,148 
Less: Average intangible assets(833,574)(677,207)(678,731)(679,812)(681,520)(730,216)(679,799)
(Q) Total average tangible common shareholders’ equity (non-GAAP)$4,744,355 $4,360,466 $4,349,226 $3,973,884 $3,989,863 $4,485,630 $3,916,349 
Return on average common equity, annualized (N/P)11.63 %11.61 %14.42 %9.93 %13.35 %12.52 %13.91 %
Return on average tangible common equity, annualized (non-GAAP) (O/Q)13.92 13.49 16.75 11.73 15.73 14.69 16.43 
Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:
Income before taxes$232,709 $211,343 $249,956 $165,243 $224,858 $694,008 $679,838 
Add: Provision for credit losses22,334 40,061 21,673 42,908 19,923 84,068 71,482 
Pre-tax income, excluding provision for credit losses (non-GAAP)$255,043 $251,404 $271,629 $208,151 $244,781 $778,076 $751,320 
34
WINTRUST SUBSIDIARIES AND LOCATIONS

Wintrust is a financial holding company whose common stock is traded on the Nasdaq Global Select Market (Nasdaq: WTFC). Its 16 community bank subsidiaries are: Lake Forest Bank & Trust Company, N.A., Hinsdale Bank & Trust Company, N.A., Wintrust Bank, N.A., in Chicago, Libertyville Bank & Trust Company, N.A., Barrington Bank & Trust Company, N.A., Crystal Lake Bank & Trust Company, N.A., Northbrook Bank & Trust Company, N.A., Schaumburg Bank & Trust Company, N.A., Village Bank & Trust, N.A., in Arlington Heights, Beverly Bank & Trust Company, N.A. in Chicago, Wheaton Bank & Trust Company, N.A., State Bank of The Lakes, N.A., in Antioch, Old Plank Trail Community Bank, N.A., in New Lenox, St. Charles Bank & Trust Company, N.A., Town Bank, N.A., in Hartland, Wisconsin and Macatawa Bank in Holland, Michigan.

In addition to the locations noted above, the banks also operate facilities in Illinois in Addison, Algonquin, Aurora, Bloomingdale, Bolingbrook, Buffalo Grove, Burbank, Cary, Clarendon Hills, Countryside, Crete, Darien, Deerfield, Des Plaines, Downers Grove, Elgin, Elk Grove Village, Elmhurst, Evanston, Evergreen Park, Frankfort, Geneva, Glen Ellyn, Glencoe, Glenview, Grayslake, Gurnee, Hanover Park, Hawthorn Woods, Highland Park, Highwood, Hoffman Estates, Homer Glen, Itasca, Joliet, Lake Bluff, Lake Villa, Lansing, Lemont, Lindenhurst, Lombard, Lynwood, Markham, Maywood, McHenry, Mokena, Mount Prospect, Mundelein, Naperville, Norridge, Northfield, Oak Lawn, Oak Park, Orland Park, Palatine, Park Ridge, Prospect Heights, Riverside, Rockford, Rolling Meadows, Round Lake Beach, Shorewood, Skokie, Spring Grove, Steger, Stone Park, Vernon Hills, Wauconda, Waukegan, Western Springs, Willowbrook, Wilmette, Winnetka and Wood Dale, and in Wisconsin in Burlington, Clinton, Delafield, Delavan, Elm Grove, Genoa City, Kenosha, Lake Geneva, Madison, Menomonee Falls, Milwaukee, Pewaukee, Racine, Wales, Walworth, Whitefish Bay and Wind Lake, and in Michigan in Allendale, Byron Center, Douglas, Grand Haven, Grand Rapids, Grandville, Hamilton, Hudsonville, Jenison, Rockford, Walker, Wyoming, and Zeeland, and in Florida in Bonita Springs and Naples, and in Indiana in Crown Point and Dyer.

Additionally, the Company operates various non-bank business units:
•FIRST Insurance Funding and Wintrust Life Finance, each a division of Lake Forest Bank & Trust Company, N.A., serve commercial and life insurance loan customers, respectively, throughout the United States.
•First Insurance Funding of Canada serves commercial insurance loan customers throughout Canada.
•Tricom, Inc. of Milwaukee provides high-yielding, short-term accounts receivable financing and value-added out-sourced administrative services, such as data processing of payrolls, billing and cash management services, to temporary staffing service clients located throughout the United States.
•Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., engages primarily in the origination and purchase of residential mortgages for sale into the secondary market through origination offices located throughout the United States. Loans are also originated nationwide through relationships with wholesale and correspondent offices.
•Wintrust Investments, LLC is a broker-dealer providing a full range of private client and brokerage services to clients and correspondent banks located primarily in the Midwest.
•Great Lakes Advisors LLC provides money management services and advisory services to individual accounts.
•Wintrust Private Trust Company, N.A., a trust subsidiary, allows Wintrust to service customers’ trust and investment needs at each banking location.
•Wintrust Asset Finance offers direct leasing opportunities.
•CDEC provides Qualified Intermediary services (as defined by U.S. Treasury regulations) for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2023 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time, plans to form additional de novo banks or branch offices, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company’s financial condition and results of operations from expected developments or events, the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form
35
additional de novo banks or branch offices. Actual results could differ materially from those addressed in the forward-looking statements as a result of numerous factors, including the following:

•economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government debt default or rating downgrade, particularly in the markets in which it operates;
•negative effects suffered by us or our customers resulting from changes in U.S. trade policies;
•the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses;
•estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period;
•the financial success and economic viability of the borrowers of our commercial loans;
•commercial real estate market conditions in the Chicago metropolitan area and southern Wisconsin;
•the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses;
•inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio;
•changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities;
•the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability;
•competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products;
•failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions;
•unexpected difficulties and losses related to FDIC-assisted acquisitions;
•harm to the Company’s reputation;
•any negative perception of the Company’s financial strength;
•ability of the Company to raise additional capital on acceptable terms when needed;
•disruption in capital markets, which may lower fair values for the Company’s investment portfolio;
•ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith;
•failure or breaches of our security systems or infrastructure, or those of third parties;
•security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft;
•adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware);
•adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors;
•increased costs as a result of protecting our customers from the impact of stolen debit card information;
•accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions;
•ability of the Company to attract and retain senior management experienced in the banking and financial services industries;
•environmental liability risk associated with lending activities;
•the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation;
•losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith;
•the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank;
•the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns;
•the expenses and delayed returns inherent in opening new branches and de novo banks;
•liabilities, potential customer loss or reputational harm related to closings of existing branches;
•examinations and challenges by tax authorities, and any unanticipated impact of the Tax Act;
•changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements;
•the ability of the Company to receive dividends from its subsidiaries;
•the impact of the Company’s transition from LIBOR to an alternative benchmark rate for current and future transactions;
36
•a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise;
•legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies;
•changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity;
•a lowering of our credit rating;
•changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise;
•regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business;
•increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment;
•the impact of heightened capital requirements;
•increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC;
•delinquencies or fraud with respect to the Company’s premium finance business;
•credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans;
•the Company’s ability to comply with covenants under its credit facility;
•fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and
•widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change.


Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases.

CONFERENCE CALL, WEBCAST AND REPLAY

The Company will hold a conference call on Tuesday, October 22, 2024 at 10:00 a.m. (CDT) regarding third quarter and year-to-date 2024 earnings results. Individuals interested in participating in the call by addressing questions to management should register for the call to receive the dial-in numbers and unique PIN at the Conference Call Link included within the Company’s press release dated September 30, 2024 available at the Investor Relations, Investor News and Events, Press Releases link on its website at https://www.wintrust.com. A separate simultaneous audio-only webcast link is included within the press release referenced above. Registration for and a replay of the audio-only webcast with an accompanying slide presentation will be available at https://www.wintrust.com, Investor Relations, Investor News and Events, Presentations & Conference Calls. The text of the third quarter and year-to-date 2024 earnings press release will also be available on the home page of the Company’s website at https://www.wintrust.com and at the Investor Relations, Investor News and Events, Press Releases link on its website.

37
Earnings Release Presentation Q3 2024 Wintrust Financial Corporation

 
22 This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2023 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time,the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company's financial condition and results of operations from expected developments or events. Actual results could differ materially from those addressed in the forward- looking statements as a result of numerous factors, including the following: • economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government debt default or rating downgrade, particularly in the markets in which it operates; • negative effects suffered by us or our customers resulting from changes in U.S. trade policies; • the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses; • estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period; • the financial success and economic viability of the borrowers of our commercial loans; • commercial real estate market conditions in the Chicago metropolitan area and southern Wisconsin; • the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses; • inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio; • changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities; • the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability; • competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products; • failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions; • unexpected difficulties and losses related to FDIC-assisted acquisitions; • harm to the Company’s reputation; • any negative perception of the Company’s financial strength; • ability of the Company to raise additional capital on acceptable terms when needed; • disruption in capital markets, which may lower fair values for the Company’s investment portfolio; • ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith; • failure or breaches of our security systems or infrastructure, or those of third parties; • security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft; • adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware); PENDING - LEGAL Forward Looking Statements

 
33 • adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors; • increased costs as a result of protecting our customers from the impact of stolen debit card information; • accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions; • ability of the Company to attract and retain senior management experienced in the banking and financial services industries; • environmental liability risk associated with lending activities; • the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation; • losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith; • the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank; • the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns; • the expenses and delayed returns inherent in opening new branches and de novo banks; • liabilities, potential customer loss or reputational harm related to closings of existing branches; • examinations and challenges by tax authorities, and any unanticipated impact of the Tax Act; • changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements; • the ability of the Company to receive dividends from its subsidiaries; • the impact of the Company's transition from LIBOR to an alternative benchmark rate for current and future transactions; • a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise; • legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies; • changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity; • a lowering of our credit rating; • changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise; • regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business; • increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment; • the impact of heightened capital requirements; • increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC; • delinquencies or fraud with respect to the Company’s premium finance business; • credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans; • the Company’s ability to comply with covenants under its credit facility; • fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; • widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change could have an adverse effect on the Company’s financial condition and results of operations, lead to material disruption of the Company’s operations or the ability or willingness of clients to access the Company’s products and services; and • the severity, magnitude and duration of the COVID-19 pandemic, including the continued emergence of variant strains, and the direct and indirect impact of such pandemic, as well as responses to the pandemic by the government, businesses and consumers, on the economy, our financial results, operations and personnel, commercial activity and demand across our business and our customers’ businesses. Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward- looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release and this presentation. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases and presentations. PENDING - LEGAL Forward Looking Statements

 
44 Pre-Tax, Pre-Provision1 September 2024 Year-to-Date Highlights (Comparative to September 2023 Year-to-Date) Total DepositsTotal Assets Total Loans Net Income $63.8 billion +$8.2 billion or 15% $47.1 billion +$5.6 billion or 14% $51.4 billion +$6.4 billion or 14% $509.7 million +$11 million or 2% Update Format second box BV / TBV Net Interest Income Net Interest Margin $1.4 billion +$69 million or 5% (non-GAAP) $76.15 +$12.08 $778.1 million +$27 million or 4% Diluted EPS $7.67 -$0.04 or -1% Current EPS Prior EPS $ 2.47 2.32 $ 0.15 PPNI Prior PPNI $ 255.0 251.4 $3.64 3600000 255,043 251,404 Metric 9/30/2024 9/30/2023 Difference % Change Net Income $ 509,683 $ 499,146 $ 10,537 2 % Pre-Tax, Pre- Provision 778,076 751,320 $ 26,756 4 % Diluted EPS $ 7.67 $ 7.71 $ (0.04) (1) % Net Interest Income 1,437,387 1,367,890 $ 69,497 5 % NIM 3.52 % 3.68 % (0.1600) % 58 TBV 76.15 64.07 $ 12.08 19 % Total Assets 63,788,424 55,555,246 $ 8,233,178 15 % Total Loans 47,067,447 41,446,032 $ 5,621,415 14 % Total Deposits 51,404,966 44,992,686 $ 6,412,280 14 % September 2024 Year-to-Date Takeaways 1 Pre-tax income, excluding provision for credit losses (non-GAAP) – See non-GAAP reconciliation in the Appendix (GAAP) $90.06 +$14.87 (non-GAAP) 3.54% -16 bps (GAAP) 3.52% -16 bps NIM FY GAAP NIM PY GAAP Change 3.52% 3.68% -16.00 NIM FY Non- GAAP NIM PY Non- GAAP Change 3.54% 3.70% -16.00 BV FY BV PY Change $ 90.06 $ 75.19 $ 14.87 TBV TBV PY Change 76.15 64.07 12.08 • Record full year net income of $622.6 million or $9.58 per diluted common share was 22% higher than our annual record net income in 2022 • Record full year net interest income of $1.8 billion driven by net interest margin expansion along with strong earning asset growth • Credit metrics remain strong and at historically low levels with net charge-offs of 11 bps of average total loans for full year 2023 • The Company's capital expansion was driven by record full year earnings in 2023 and remain well above the regulatory thresholds • Wintrust's tangible book value per common share (non-GAAP) increased in 2023 to $70.33 as of December 31, 2023. Tangible book value per common share (non-GAAP) has increased every year since Wintrust became a public company in 1996 • Record year-to-date net income of $509.7 million or $7.67 per diluted common share was $11 million higher than our net income for the same time period in 2023 • Record year-to-date net interest income of $1.4 billion driven by strong earning asset growth • Wintrust's tangible book value per common share (non-GAAP) increased to $76.15 as of September 30, 2024. Tangible book value per common share (non-GAAP) has increased every year since Wintrust became a public company in 1996 • Wintrust Financial Corporation and Macatawa Bank Corporation ("Macatawa") completed their previously announced merger on August 1, 2024 whereby Wintrust acquired Macatawa in an all-stock transaction 9/30/2024 9/30/2023 September September 2024 2023 September 2024 September 2023

 
55 Q3 2024 Highlights (Comparative to Q2 2024) • Total loans increased by approximately $2.4 billion, which includes approximately $1.3 billion of acquired balances relating to Macatawa. Excluding Macatawa, total loans increased $1.1 billion or 10% annualized • Total deposits increased by approximately $3.4 billion, which includes approximately $2.3 billion of acquired balances relating to Macatawa. Excluding Macatawa, total deposits increased $1.1 billion or 9% annualized • Recorded net income of $170.0 million for the third quarter of 2024 • Q3 2024 net interest margin (non-GAAP) of 3.51% remained stable, decreasing by one basis point from the prior quarter Pre-Tax, Pre-Provision1 Diversified Balance Sheet Total DepositsTotal Assets Total Loans Net Income $63.8 billion +$4.0 billion $47.1 billion +$2.4 billion $51.4 billion +$3.4 billion $170.0 million +$17.6 million Stable Credit Quality • Non-performing loans totaled $179.7 million and comprised 0.38% of total loans at September 30, 2024, as compared to $174.3 million and 0.39% of total loans at June 30, 2024 • Allowance for credit losses on total core loans was 1.40% • Net charge-offs decreased to 23 basis points in the third quarter of 2024 compared to 28 basis points in the second quarter of 2024 Efficiency RatioReturn on Assets ROE / ROTCE 1.11% +4 bps (GAAP) 58.88% +178 bps $255.0 million +$3.6 million 1 Pre-tax income, excluding provision for credit losses (non-GAAP) – See non-GAAP reconciliation in the Appendix for all metrics denoted as non-GAAP Diluted EPS $2.47 +$0.15 Current EPS Prior EPS $ 2.47 2.32 $ 0.15 PPNI Prior PPNI $ 255.0 251.4 $3.64 3600000 255,043 251,404 Stable Margin Supports Earnings Net Overhead Ratio 1.62% +9 bps (non-GAAP) 58.58% +175 bps Efficiency GAAP Prior Q 58.88% 58.59% $ 29.00 Efficiency Non GAAP Prior Q Efficiency Ratio (GAAP) Q1-23 Efficiency Ratio (GAAP) Q4-22 Efficiency Ratio (Non- GAAP) Q1-23 Efficiency Ratio (Non- GAAP) Q4-22 58.88 % 57.10 % 58.58 % 56.83 % % Change File does not have calc for GAAP numbers 175 Check 178.00 175.00 (GAAP) 11.63% +2 bps (non-GAAP) 13.92% +43 bps Current ROE Prior ROE Current ROTCE Prior ROTCE 11.63 % 11.61 % 13.92 % 13.49 % 2 43 PENDING 2 Shares issued for the acquisition of Macatawa increased average dilutive shares by 3,118,000 shares

 
66 Diluted EPS Quarterly Trend Quarterly Pre-Tax Income, Excluding Provision for Credit Losses Record Net Income for the First Nine Months of the Year $164.2 $123.5 $187.3 $152.4 $170.0 1.20% 0.89% 1.35% 1.07% 1.11% Net Income ROA Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $2.53 $1.87 $2.89 $2.32 $2.47 Diluted EPS Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $244.8 $208.2 $271.6 $251.4 $255.0 Pre-Tax Income, excluding Provision for Credit Losses (non-GAAP) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 ($ in Millions) ($ in Millions) 1 See non-GAAP reconciliation in Appendix Q3 2024 Highlights Earnings Summary Differentiated, highly diversified and sustainable business model Manual Input - Highlights May Change QoQ • Q3 2024 pre-tax income, excluding provision for credit losses totaled $255.0 million as compared to $251.4 million in the second quarter of 2024 • Record quarterly net interest income of $502.6 million supported by strong loan and deposit growth and a relatively stable net interest margin

 
77 38% 42% 16% 4% Non-interest bearing $ 0.6 NOW and Interest Bearing DDAs $ 0.6 $ 2.3 Wealth management deposits $ — Money market $ 0.6 Savings $ 0.2 Total Certificate of Deposits $ 0.3 27% 25% 28% 7% 13% 33% 27% 15% 17% 7% 1% Commercial Commercial Real Estate PFR - Property and Casualty Insurance PFR - Life Insurance Residential Real Estate All Other Loans 21% 11% 3% 34% 12% 19% Non-interest bearing NOW Wealth management deposits Money market Savings Time certificates of deposit Loan Portfolio ($ in Billions) X Combined Company Deposit Portfolio ($ in Billions) $1.3 $51.4$2.3 Loan and Deposit Portfolio WTFC & Macatawa Macatawa Bank provides loan portfolio with pristine credit quality paired with attractive low cost deposits as of 8/1/2024 $47.1 as of 9/30/2024

 
88 33% 27% 15% 17% 7% 1% Commercial Commercial Real Estate PFR - Property and Casualty Insurance PFR - Life Insurance Residential Real Estate All Other Loans $44,676 $1,093 $846 $321 $131 $47,067 6/30/2024 Commercial Commercial Real Estate Residential Real Estate All Other Loans 9/30/2024 $41.4 $44.7 $47.1 6.51% 6.90% 6.90% Total Loans Average Total Loan Yield 9/30/2023 6/30/2024 9/30/2024 Year-over-Year Change $5.6B or 14% in Total Loans Loan Portfolio Diversified loan portfolio All Major Portfolios Experienced Strong Loan Growth in the Third Quarter of 2024 ($ in Millions) Diversified Loan Mix (as of 9/30/2024) Robust Loan Growth Enhanced by Macatawa Acquisition ($ in Billions) • Net loan growth during the third quarter totaled $2.4 billion, or 21% on an annualized basis • Excluding loans acquired in the Macatawa transaction, total loans increased approximately 10% on an annualized basis • Year-over-year loan growth of $5.6 billion or 14% Q3 2024 Highlights

 
99 • Robust third quarter deposit growth totaling $3.4 billion which included approximately $2.3 billion of deposits acquired from Macatawa • Year-over-year deposit growth of $6.4 billion or 14% • Non-interest-bearing deposits increased approximately $708 million and remain 21% of total deposits in the third quarter of 2024 • Excess liquidity acquired in the Macatawa transaction was deployed by reducing exposure to wholesale and brokered funding sources $48,049 $708 $1,394 $728 $526 $51,405 6/30/2024 Non-Interest-Bearing Money Market CDs Other Interest- Bearing 9/30/2024 $45.0 $48.0 $51.4 3.12% 3.73% 3.72% Total Deposits Rate Paid on Average Total Interest-Bearing Deposits 9/30/2023 6/30/2024 9/30/2024 1 1Includes: NOW, Interest-bearing Demand Deposits, Savings and deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), trust and asset management customers of the Company Deposit Portfolio Enviable core deposit franchise in Chicago, Milwaukee and Grand Rapids market areas Strong Quarterly Growth Across Diverse Product Offerings ($ in Millions) Deposit Growth Supported by Strong Core Franchise and Expansion into Grand Rapids Due to Macatawa Acqusition ($ in Billions) Q3 2024 Highlights 1 Manual Input - Highlights May Change QoQ

 
1010 Chicago MSA (Sorted by 2024 Market Share Data) 2024 Deposit Market Share 2023 Deposit Market Share 2022 Deposit Market Share 2021 Deposit Market Share JPMorgan Chase Bank 20.0% 22.3% 23.3% 23.1% BMO Bank 18.3% 16.7% 14.3% 15.1% Bank of America 8.0% 8.8% 10.1% 8.5% Wintrust Financial Corporation 7.7% 7.3% 6.8% 6.5% CIBC Bank USA 7.0% 6.6% 5.9% 5.7% The Northern Trust Company 5.8% 4.7% 6.4% 6.8% Fifth Third Bank 4.9% 4.9% 5.0% 5.1% PNC Bank 3.1% 3.0% 3.0% 3.1% Old National Bank1 2.8% 2.8% 2.5% 2.7% Citibank 2.5% 3.3% 3.6% 3.5% *Data Source: Federal Deposit Insurance Corporation as of June 30th of each year Deposit Market Share and WTFC Midwest Branch Locations Milwaukee, Kenosha, Racine MSAs (Sorted by 2024 Market Share Data) 2024 Deposit Market Share 2023 Deposit Market Share 2022 Deposit Market Share 2021 Deposit Market Share U.S. Bank 29.3% 33.4% 37.9% 36.6% BMO Harris Bank 14.9% 13.7% 12.9% 14.4% JPMorgan Chase 11.0% 11.4% 11.8% 11.2% Associated Bank 9.6% 8.8% 7.3% 7.0% Wintrust Financial Corporation 3.8% 3.2% 2.7% 2.4% Wells Fargo Bank 2.4% 2.4% 2.3% 4.3% Bank Five Nine 2.1% 1.7% 1.3% 1.3% PNC Bank 2.1% 2.0% 2.0% 2.5% Old National Bank1 1.7% 1.5% 1.3% 0.2% North Shore Bank 2.0% 1.9% 1.8% 1.7% Grand Rapids MSA (Sorted by 2024 Market Share Data) 2024 Deposit Market Share 2023 Deposit Market Share 2022 Deposit Market Share 2021 Deposit Market Share Huntington 18.9% 18.9% 20.0% 19.5% Fifth Third Bank 18.7% 18.7% 19.7% 21.7% Northpointe Bank 10.9% 10.2% 7.7% 7.0% JPMorgan Chase 9.6% 9.9% 10.3% 10.2% Macatawa Bank 7.2% 7.3% 7.5% 8.2% Mercantile Bank 7.2% 6.9% 6.5% 6.4% Independent Bank 4.3% 4.6% 5.4% 5.1% West Michigan Community Bank 2.8% 2.6% 2.3% 2.2% Bank of America 2.7% 3.2% 4.1% 3.6% ChoiceOne Bank 2.5% 2.5% 2.5% 2.2% *Map Source: S&P Capital IQ 1 Includes First Midwest Market share, Old National acquired First Midwest in a merger that was completed on February 16, 2022

 
1111 9.3% 9.4% 9.5% 9.5% 9.8% 0.2% Wintrust Macatawa Impact 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 Manual Input- Investment Duration comes from Scott Capital/Liquidity Current capital levels are well in excess of regulatory thresholds and benefited from Macatawa's excess capital and liquidity $3.9 $3.7 $0.1 Available-for-Sale Held-to-Maturity Other 12.1% 0.3% (0.4)% (0.1)% 11.9% 6/30/2024 Retained Earnings and Other Equity Changes Change in RWA Change in Subordinated Debt 9/30/2024 1 Ratios for Q3 2024 are estimated 9.3% 9.5% 9.8% 10.2% 10.3% 10.5% 12.0% 12.1% 12.2% 9.2% 9.3% 9.4% CET1 Ratio Tier 1 Capital Ratio Total Capital Ratio Tier 1 Leverage Ratio 9/30/2023 6/30/2024 9/30/2024 CET1 Ratio 1 Sufficient CET1 Ratio For Company Risk Profile Boosted by Macatawa Acqusition Capital Level Expansion Supported by Earnings and Macatawa Strategically Balanced Investment Portfolio (as of 9/30/2024) ($ in Billions) • The Company's capital levels are well in excess of regulatory thresholds and it is expected that the Company would remain well capitalized in the event the Company were to liquidate its entire investment portfolio • Investment portfolio at 12% of total assets as of September 30, 2024 Q3 2024 Highlights 1 Total Investment Portfolio Yield (Q3 '24): 3.38% Duration: 5.9 Years $7.7 Manual Input - Highlights May Change QoQ Manual Input - CET1 calculation comes from Mark Expect Q4 2025 CET1 +10.0% 9.3% 9.4% 9.5% 9.5% 9.7% 10.0% 0.3% Wintrust Macatawa Impact Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2025

 
1212 Tangible Book Value Per Share (non-GAAP) Wintrust has grown TBV Per Share every year since going public in 1996, and increased TBV Per Share to $76.15 as of 9/30/2024, which is the highest in Company history $4.11 $5.50 $6.03 $6.19 $7.08 $9.03 $11.65 $14.84 $16.07 $17.28 $18.97 $19.02 $20.78 $23.22 $25.80 $26.72 $29.28 $29.93 $32.45 $33.17 $37.08 $41.68 $44.67 $49.70 $53.23 $59.64 $61.00 $70.33 $76.15 Tangible Book Value Per Share (non-GAAP) 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 9/3 0/2 02 4 1 1Q2 2024 is a Preliminary Number Tangible book value per common share (non-GAAP) increased to $72.01 which is the highest in Company history Manual Input - S&P File

 
1313 Total Shareholder Return Wintrust's commitment to growing shareholder value is exemplified by outperforming the KBW's Regional Banking Total Return Index (KRXTR) for each of the 1-year, 3-year, 5-year, and 10-year time periods Total Shareholder Return of WTFC Compared to KRXTR (1 Year) 100.00% 146.00% 133.39% WTFC KRXTR 09 /30 /23 09 /30 /24 80.00% 100.00% 120.00% 140.00% 160.00% Total Shareholder Return of WTFC Compared to KRXTR (3 Year) 100.00% 103.09% 97.40% 140.61% 92.65% 76.29% 101.77% WTFC KRXTR 09 /30 /21 09 /30 /22 09 /30 /23 09 /30 /24 50.00% 75.00% 100.00% 125.00% 150.00% Total Shareholder Return of WTFC Compared to KRXTR (5 Year) 100.00% 63.61% 127.82% 131.66% 124.59% 178.32% 67.24% 132.16% 122.45% 100.83% 134.50% WTFC KRXTR 09 /30 /19 09 /30 /20 09 /30 /21 09 /30 /22 9/3 0/2 02 4 09 /30 /24 50.00% 75.00% 100.00% 125.00% 150.00% 175.00% 200.00% Total Shareholder return of WTFC Compared to KRXTR (10 Year) 100.00% 120.55% 126.37% 178.44% 194.76% 151.26% 98.61% 191.52% 197.07% 186.84% 264.58% 114.39% 124.96% 160.82% 166.73% 153.06% 102.93% 202.29% 187.42% 154.34% 205.87% WTFC KRXTR 09 /30 /14 09 /30 /15 09 /30 /16 09 /30 /17 09 /30 /18 09 /30 /19 09 /30 /20 09 /30 /21 09 /30 /22 09 /30 /23 09 /30 /24 50.00% 100.00% 150.00% 200.00% 250.00% 300.00% Manual Input - S&P File *Data Source: S&P Capital IQ

 
1414 • Well-positioned for strong financial performance as we continue our momentum into the remainder of the year and 2025 • Expect the combination of a stable net interest margin and balance sheet growth to result in continued net interest income growth over the next few quarters • Hedging program to protect both net interest margin and capital during the new lower rate fed cycle $6.0 $6.7 $6.7 $6.7 $5.5 $5.5 $3.0 $3.7 $3.7 $3.7 $3.7 $3.7 $3.0 $3.0 $3.0 $3.0 $1.8 $1.8 Received Fixed Swaps Costless Collars Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $462.4 $470.0 $464.2 $470.6 $502.6 3.62% 3.64% 3.59% 3.52% 3.51% Net Interest Income Net Interest Margin (non-GAAP) 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 3.52% (0.01)% 0.01% (0.01)% 3.51% NIM (non-GAAP) Q1 2024 Earning Asset Yield Interest-Bearing Liability Rate Net Free Funds NIM (non-GAAP) Q2 2024 Net Interest Margin/Income Net interest margin within guidance range; coupled with earning asset growth produced strong net interest income Derivatives Held by the Company as of 9/30/2024 That Hedge the Cash Flows of Variable Rate Loans1 2.9% 1.0% 1.8% 1.0% Static Ramp 6/30/2023 6/30/2024 Percentage Change in Net Interest Income Over a One-Year Time Horizon Rising Rates Scenario + 100 Basis Points (2.9)% 0.6% (0.9)% 0.9% Static Ramp 6/30/2023 6/30/2024 1 2 Percentage Change in Net Interest Income Over a One-Year Time Horizon Falling Rates Scenario - 100 Basis Points 1 Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet 2 Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months Q1 '24 NII $470.6MM Q2 '24 NII $502.6MMNIM Linking Chart 9/30/2024 6/30/2024 Variance Total earning assets (7) 6.33 % 6.34 % (0.01) % Total interest-bearing liabilities 3.75 % 3.76 0.01 % Net free funds/contribution (6)/ Net interest income/Net interest margin 0.93 % 0.94 -0.01 NIM 3.51 % 3.52 Manual Input - Data Comes from Joel Pending Expect sustained NII growth and Stable NIM through 2025 Q3 2024 NII Boosted By Macatawa and Stable NIM Q3 2024 Highlights Collars Weighted Average Cap Rate: 3.72% Collars Weighted Average Floor Rate: 2.23% Receive Fixed Swaps Weighted Average Rate: 3.86% 1 Dates represent derivative maturity dates. Reference the Appendix slide 28 for the complete derivative schedule ($ in Billions) ($ in Millions) • Expect sustained NII growth and Stable NIM through 2025 Q3 2024 Highlights • Well-positioned for strong financial performance as we continue our momentum into the remainder of the year and into 2025 • Expect the combination of a stable net interest margin and balance sheet growth to result in continued net interest income growth • Hedging program to protect both net interest margin and capital in a declining rate environment

 
1515 $340.4 $10.1 $8.8 $1.6 $1.1 $(1.3) $360.7 Q2 2024 Non- Interest Expense Macatawa Non- Interest Expense Salaries and Benefits* Software and Equipment* Acquisition Costs All Other Expenses* Q3 2024 Non- Interest Expense Non-Interest Income & Non-Interest Expense Continue to manage our expenses and believe Macatawa acquisition will provide valuable synergies ($ in Millions) $121.1 $2.9 $7.6 $1.4 $(13.2) $(5.3) $(1.4) $113.1 Q2 2024 Non- Interest Income Macatawa Non- Interest Income Investment Gains/Losses* Lease Income Mortgage Banking Gain on Sale of Premium Finance Loans in Q2 All Other Income* Q3 2024 Non- Interest Income Macatawa Acquisition Enhances Existing Diversified Fee Businesses ($ in Millions) Wintrust's Proven Acquisition Expertise Will Support Efficient Integration of Macatawa *Net of Macatawa

 
1616 $112.5 $100.8 $140.6 $121.1 $113.1 $33.5 $33.3 $34.8 $35.4 $37.2 $13.9 $14.2 $14.1 $13.9 $15.3 $14.2 $14.5 $14.8 $15.5 $16.4 $23.5 $31.4 $49.2 $27.2 $28.2 $27.4 $7.4 $27.7 $29.1 $16.0 Wealth Management Operating Lease Income, net Service Charges on Deposits Other ; incl. Call Option Income Mortgage Banking Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $572.6 $439.2 $475.6 $722.2 $766.8 $408.7 $315.6 $331.5 $544.4 $527.4 $163.9 $123.6 $144.1 $177.8 $239.4 Retail Originations Veterans First Originations Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Mortgage Originations for Sale Increased in Q3 2024 and are 34% Higher Than Q3 2023 MSRs Decreased Due to Lower Mortgage Rates Continued Strong Wealth Management BusinessNon-Interest Income Decreased Primarily Due to MSR Activity 1 Other - includes Interest Rate Swap Fees, BOLI, Administrative Services, FX Remeasurement Gains/(Losses), Early Pay-Offs of Capital Leases, Gains/(losses) on investment securities, net, Fees from covered call options, Trading gains/(losses), net and Miscellaneous 1 $33.5 $33.3 $34.8 $35.4 $37.2 $44.7 $47.1 $48.7 $48.2 $51.1 Total Wealth Management Revenue Assets Under Administration ($ in Billions) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 ($ in Millions) ($ in Millions) % of MSRs to Loans Serviced for Others Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 1.77% 1.60% 1.67% 1.68% 1.52% $210.5 $192.5 $201.1 $204.6 $186.3 $11,886 $12,007 $12,051 $12,211 $12,253 MSRs, at fair value Loans Serviced for Others Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 ($ in Millions) ($ in Millions) Non-Interest Income Diversified fee businesses support non-interest income levels despite challenging mortgage environment Manual Input - Data Comes from Mortgage Team Pending

 
1717 $192.3 $194.0 $195.2 $198.5 $211.3 $111.3 $111.5 $112.2 $113.9 $119.0 $48.8 $49.0 $51.0 $52.1 $57.6 $32.2 $33.5 $32.0 $32.5 $34.7 Salaries Commissions and Incentive Compensation Benefits Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $31.2 $36.6 $45.1 $50.1 $52.9 $56.3 $63.8 2.85% 2.79% 2.51% 2.42% 2.33% 2.45% 2.38% Total Assets Non-Interest Expense as a % of Average Assets FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 YTD 2024 Efficiency Ratio Increased Slightly on Lower MSR Related Revenues 56.94% 63.51% 54.95% 56.83% 58.58% Efficiency Ratio (non-GAAP) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $340.4 $0.8 $— Q1 2024 Non-Interest Expense Advertising and Marketing FDIC Special Assessment Salaries and Benefits Occupancy Expense All Other Expenses Q2 2024 Non-Interest Expense Non-Interest Expense Continue to manage our expenses and believe they are in line with Company growth ($ in Millions) Consistent Asset Growth Coupled With Prudent Expense Management ($ in Billions) 1 Q4 2023 Includes FDIC Special Assessment of $34.4MM 2 Q1 2024 Includes FDIC Special Assessment of $5.2MM & Net Gain on Sale of RBA of $19.3MM 1 2 Total Salaries and Benefits Increase Primarily Driven by the Addition of Macatawa Employees and Incentive Compensation

 
1818 $437.6 $(3.7) $(6.5) $(9.7) $15.5 $3.0 $436.2 6/30/2024 Portfolio Changes Economic Factors Specific Reserve Macatawa Day 1 Non-PCD Macatawa Day 1 PCD 9/30/2024 $8.1 $14.9 $21.8 $30.0 $26.7 $19.9 $42.9 $21.7 $40.1 $22.3 0.08% 0.14% 0.21% 0.28% 0.23% NCOs Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $133.1 $139.0 $148.4 $174.3 $179.7 $79.4 $91.3 $89.9 $119.1 $125.4 $10.7 $0.0 $0.0 $0.0 $0.0$43.0 $47.7 $58.5 $55.2 $54.3 0.32% 0.33% 0.34% 0.39% 0.38% NPLs as a % of Total Loans PFR - Commercial NPLs PFR - Life NPLs Commercial, CRE and Other NPLs 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $(33) $(15) $(42) $(41) $2 (0.01)% 0.00% (0.01)% (0.01)% 0.00% NCOs Annualized NCOs as a % of Average Total Loans Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 $43,350 $45,715 Q2 2024 Q3 2024 $735 $729 Q2 2024 Q3 2024 $591 $623 Q2 2024 Q3 2024 Pass and Loans Guaranteed1 Special Mention Substandard2 1Pass and Loans Guaranteed: Includes early buy-out loans guaranteed by U.S. government agencies 2Substandard: Substandard includes Substandard Accrual and Substandard Nonaccrual/Doubtful 97% 97% 2% 2% 1% 1% Credit Quality Diversified Business Lines and Strong Credit Management Support Stable Credit Quality Macatawa's Historical NPLs Highlight Pristine Asset Quality Manageable Levels of Non-Performing Loans ($ in Millions) ($ in Millions) Special Mention and Substandard Percentages Remained Stable Quarter over Quarter Manual Input - All Data comes from Mike Reiser Q1 & Q2 Commercial, CRE, and Other NPL are hard coded due to rounding issues $8.1 $14.9 $21.8 $30.0 $26.7 $19.9 $42.9 $21.7 $40.1 $22.3 0.08% 0.14% 0.21% 0.28% 0.23% NCOs Total Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Provision Increase driven by Macatawa Day 1 Impact Partially Offset by CECL Economic Outlook ($ in Millions) $75 $72 $1 $1 $1 0.01% 0.01% 0.00% 0.00% 0.00% NPLs Annualized NPLs as a % of Average Total Loans Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 $15.5 Day 1 Macatawa Provision for Credit Losses $6.8 Change in Allowance Driven by Improved Economic Outlook and Macatawa Day 1 Impact ($ in Millions) 3Portfolio Changes: Includes new volume and run- off, changes in credit quality, aging of existing portfolio, shifts in segmentation mix and changes in net charge-offs 3 Manual Input - All Data comes from Mike Reiser Manual Input - All Data comes from Mike Reiser $15.5

 
1919 0.40% 0.45% 0.41% 0.46% 0.48% 0.34% 0.51% 0.29% 0.34% 0.39% 0.81% 1.58% 1.74% 1.52% 1.30% 1.03% 0.85% 0.62% 0.56% 0.50% 0.47% 0.44% 0.36% 0.32% 0.16% 0.21% 0.27% 0.30% NPA/TA 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 9/3 0/2 02 4 1Q2 2024 is a Preliminary Number Non-Performing Assets to Total Assets NPAs continue to normalize though still remain historically low Historical Data are manual input from S&P File. Current quarter is linked

 
2020 • Decrease in allowance for credit losses driven by an improved macroeconomic scenario coupled with changes in credit quality within specific segments of the portfolio, offset by net loan growth including the acquisition of Macatawa • Coverage across all portfolios remains strong to endure potential future economic stress • Increase in allowance driven by net loan growth across most segments coupled with changes in credit quality within specific products of the portfolio • Strong coverage across all portfolios designed to protect against potential future economic downturn $43.2 $44.7 $47.1 0.99% 0.98% 0.93% Total Loan Period End Balance Allowance as a % of Total Loans 3/31/2024 6/30/2024 9/30/2024 $25.4 $26.3 $28.4 1.51% 1.52% 1.40% Core Loan Period End Balance Allowance as a % of Category 3/31/2024 6/30/2024 9/30/2024 $17.8 $18.4 $18.7 0.25% 0.21% 0.21% Niche Loan Period End Balance Allowance as a % of Category 3/31/2024 6/30/2024 9/30/2024 Credit Quality - Allowance for Loan Losses The Company remains well-reserved Consistently Well-Reserved Across Our Core Loan PortfolioAmple Allowance Coverage on Total Loan Portfolio ($ in Billions) ($ in Billions) Allowance Provides Appropriate Coverage Given Minimal Historic Losses in Niche Portfolio ($ in Billions) Q3 2024 Highlights Manual Input - All Data comes from Mike Reiser

 
2121 $151.5 $169.6 $166.5 $182.0 $171.6 1.19% 1.32% 1.23% 1.29% 1.13% Calculated Allowance Allowance as a % of Category 9/30/2023 12/31/2024 3/31/2024 6/30/2024 9/30/2024 $43.8 $39.0 $31.8 $51.4 $63.8 0.34% 0.30% 0.24% 0.36% 0.42% NPLs NPL as a % of Category 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $12,725 $12,832 $13,503 $14,154 $15,248 0.04% 0.14% 0.33% 0.25% 0.61% Period End Balance Net Charge-Off Ratio 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 44% 11%6% 16% 8% 5% 3% 7% Commercial and industrial Asset-based lending Municipal Leases Franchise Mortgage warehouse lines of credit Community Advantage - HOA Insurance agency lending Credit Quality - Commercial Loans Diversified portfolio with low net charge-offs Manageable Levels of Non-Performing Commercial Loans Strong Loan Growth With the Majority of Charge-offs Related to One Relationship Previously Reserved for in Prior Quarters ($ in Millions) ($ in Millions) Allowance Provides Appropriate Coverage Commercial Loan Composition (as of 9/30/2024) ($ in Millions)

 
2222 $10,946 $11,344 $11,633 $11,947 $12,793 0.05% 0.19% 0.19% 0.53% 0.00% Period End Balance Net Charge-Off Ratio 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $18.1 $35.5 $39.3 $48.3 $42.3 0.17% 0.31% 0.34% 0.40% 0.33% NPLs NPL as a % of Category 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $215.7 $215.7 $226.1 $223.7 $231.1 1.97% 1.90% 1.94% 1.87% 1.81% Calculated Allowance Allowance as a % of Category 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 13% 20% 11% 25% 12% 15% 1% 3% Office Industrial Retail Multi-family Mixed use and other Commercial construction Residential construction Land Credit Quality - Commercial Real Estate Loans Well-diversified portfolio with a majority of its exposure in stabilized, income producing properties NPLs and Credit Quality Remains Relatively StableProactive Credit Management ($ in Millions) ($ in Millions) Ample Allowance Levels to Protect Against Potential Future Market Pressure Commercial Real Estate Loan Composition (as of 9/30/2024) ($ in Millions)

 
2323 Medical, 27% Medical Owner Occupied, 2% Non-Medical Owner- Occupied, 15% Non-Medical Non Owner-Occupied, 56% $403.1 $320.9 $242.8 $206.6 $286.2 $215.7 $160.3 $150.2 $189.7 $130.3 $187.8 $122.8 Total CRE Office Non-Medical Non Owner-Occupied <$2M $2M-$5M $5M-$10M $10M-$15M $15M-$20M >=$20M Chicago CBD, 11% Other CBD, 12% Suburban, 77% 1Chicago CBD includes the following zip codes: 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60610, 60611, 60654, 60661 2Other CBD includes the following metropolitan areas: Milwaukee, Boulder, Orlando, Saint Paul, Columbus, Akron, Cincinnati, San Antonio 1 2 $1,298.0 $197.7$179.6 $941.1 ### $244.4 $447.3 288937 100 49 34 26 17 11 17 11 8 5 Number of Loans Per Category CRE Office Portfolio (as of 9/30/2024) CRE office represents a minimal percentage of the total loan portfolio CRE Office Portfolio Geography ($ in Millions) CRE Office Portfolio Composition Granularity of CRE Office Portfolio by Loan Size ($ in Millions) ($ in Millions) <$2M $2M-$5M $5M-$10M $10M-$15M $15M-$20M >=$20M # of Loans CRE 937 100 34 17 17 8 Non Med 288 49 26 11 11 5 Portfolio Characteristics As of 6/30/2024 As of 9/30/2024 Balance ($ in Millions) $1,585 $1,675 CRE office as a % to Total CRE 13.27% 13.09% CRE office as a % to Total Loans 3.55% 3.56% Average Size of Loan ($ in Millions) $1.5 $1.5 Non-Performing Loan (NPL) Ratio 2.05% 1.57% Loans Still Accruing that are 30-89 Days Past Due Ratio 0.07% 1.66% Owner Occupied or Medical % 42% 44% $42.5 Manual Input - Data Comes from Mario's Team Medical $ 447.3 Medical Owner Occupied $ 42.5 Non-Medical Owner-Occupied $ 244.4 Non-Medical Non Owner- Occupied $ 941.1 Chicago CBD $ 179.6 Other CBD $ 197.7 Suburban $ 1,298.0 Total $ 1,675.3

 
2424 Manual Input - Data comes from Dominic Sarro $10.7 $0.0 $0.0 $0.0 $0.0 0.13% 0.00% 0.00% 0.00% 0.00% NPLs NPL as a % of Category 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $8,353 $1,947 Cash Surrender Value Other $7,932 $7,878 $7,872 $7,962 $7,997 0.00% 0.00% 0.00% 0.00% 0.00% Period End Balance Net Charge-Off Ratio 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 1 Loan Collateral reported at actual values versus credit advance rate 2 Collateral Coverage is calculated by dividing Total Loan Collateral (Undiscounted) by Total Loan Portfolio Balance 4% 72% 6% 18% Annuity Brokerage Account Certificate of Deposit Letters of Credit OtherCollateral Coverage2 of 129% Credit Quality Premium Finance Receivables - Life Insurance Life Insurance portfolio remains steady and has continued to demonstrate exceptional credit quality Continued Low Levels of Non-Performing LoansQ3 2024 Balances Remained Consistent with Strong Credit Quality ($ in Millions) ($ in Millions) Total Loan Collateral1 by Type (as of 9/30/2024) "Other" Loan Collateral1 by Type (as of 9/30/2024) ($ in Millions) Pending

 
2525 Steady Levels of Non-Performing LoansConsistent Loan Growth $6,723 $6,904 $6,940 $7,101 $7,132 0.29% 0.29% 0.32% 0.33% 0.24% Period End Balance Net Charge-Off Ratio 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $4,212 $4,140 $4,209 $5,080 $4,499 Originations Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 $43.0 $47.7 $58.5 $55.1 $54.3 0.64% 0.69% 0.84% 0.78% 0.76% NPLs NPL as a % of Category 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 $3,531 $2,358 $1,050 $193 Current Premium Finance Receivables - Property and Casualty Insurance Loan Balances Projected to Mature Based on Modeled Contractual Cash Flows ≤ 3 Months 4-6 Months 7-9 Months > 9 months Premium Finance Receivables - Property and Casualty Insurance ($ in Millions) ($ in Millions) Projected Repayments Stable Origination Volume Despite Seasonality of Portfolio ($ in Millions) ($ in Millions) Manual Input - Data comes from Mark B Manual Input - Data comes from Thanos Polyzois and Matt for Canada Pending

 
2626 Appendix

 
2727 ($ in Thousands) Purchased Loans Unaccreted Purchase Accounting Carrying Value WA Remaining Life ( Months) 8/1/24-9/30/24 Accretion Commercial & Industrial $508,045 $5,080 $513,125 36 $141 Commercial Real Estate $604,060 $6,041 $610,101 59 $102 Consumer & Other $3,848 $38 $3,886 48 $1 Home Equity $58,693 $587 $59,280 86 $7 Residential Real Estate $211,382 $2,114 $213,496 86 $25 Total Loans $1,386,028 $13,860 $1,399,888 56 $276 Macatawa Bank - Purchase Accounting Wintrust's proven acquisition expertise will support efficient integration of Macatawa Additional Information • Macatawa acquisition completed on August 1st, 2024 • Purchase price totaled $499.3MM. The company issued 4.7MM shares of WTFC common stock • Preliminarily recorded goodwill of approximately $144.6 million on the purchase ($ in Millions) 3Q 24 Impact Estimated 4Q 24 Impact Commentary Items accreting through interest income: Record loans at fair value $(53.7) $3.2 $3.7 Accreted into interest and fees on loans using methods that approximate the effective interest method, which accretes the discounts over the life of the loans Record securities at fair value (securities sold) $(32.1) $0.0 $0.0 The company sold $527.6 of the securities after the closing of the acquisition, with the discount absorbing $32.1 in losses realized on the sale Record securities at fair value (securities retained) $(1.4) $0.2 $0.3 The remaining $1.4 of discount on $82.3 securities not sold will be accreted into investment securities using methods that approximate the effective interest method, which accretes the discount over the life of the securities Items amortizing through non-interest expense: Record buildings at fair value $6.2 $0.1 $0.1 Amortized to occupancy expense over 39 years using the straight-line method Record core deposit intangible $99.3 $3.0 $4.5 Amortized through other acquisition-related intangible assets expense over 10 years using the sum-of-the-years-digits method Pre-tax impact $0.3 $(0.6) ($ in Millions) PENDING

 
2828 Hedging activities had a 17 basis point unfavorable impact to our Q3 2024 NIM as compared to a 18 basis point unfavorable impact to our Q2 2024 NIM. These derivatives are expected to benefit the Company as one-month term SOFR rates fall. Hedge Type Effective Date Notional Maturity Date Cap Rate Floor Rate Swap Rate Costless Collar 9/1/2022 $1.25B 9/1/2025 3.74% 2.25% N/A Costless Collar 9/1/2022 $1.25B 9/1/2027 3.45% 2.00% N/A Costless Collar 10/1/2022 $0.5B 10/1/2026 4.32% 2.75% N/A Receive Fixed Swap 1/31/2023 $0.5B 12/31/2025 N/A N/A 3.75% Receive Fixed Swap 1/31/2023 $0.5B 12/31/2026 N/A N/A 3.51% Receive Fixed Swap 2/1/2023 $0.25B 2/1/2026 N/A N/A 3.68% Receive Fixed Swap 2/1/2023 $0.25B 2/1/2027 N/A N/A 3.45% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2026 N/A N/A 3.92% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2028 N/A N/A 3.53% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2026 N/A N/A 4.18% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2028 N/A N/A 3.75% Receive Fixed Swap 4/1/2023 $0.25B 7/1/2026 N/A N/A 4.45% Receive Fixed Swap 4/1/2023 $0.25B 7/1/2027 N/A N/A 4.15% Receive Fixed Swap 10/1/2024 $0.35B 10/1/2029 N/A N/A 3.99% Receive Fixed Swap 11/1/2024 $0.35B 11/1/2029 N/A N/A 4.25% Below are the details of the derivatives entered by the Company as of September 30, 2024. These derivatives hedge the cash flows of variable rate loans that reprice monthly based on one-month term SOFR. Hedging Strategy Update Use of Hedges to Mitigate Negative Impacts of Falling Rates Manual Input - To Confirm with Joel

 
2929 1Geographic Diversification: relevant business location utilized to estimate geographic diversification, which can mean the following locations types were used: collateral location, customer business location, customer home address and customer billing address States/Jurisdictions that individually comprise 1% or less of the Total Loan Portfolio shaded light blue Loan Portfolio Highly diversified portfolio across U.S Loan Portfolio - Geographic Diversification1 (as of 9/30/2024) 34% 8% 7% 6% 5% 4% 3% 2% 2% 2% 2% 2%Canada: Total Loan Portfolio Primary Geographic Region Commercial: Commercial, industrial and other Illinois/Wisconsin Leasing Nationwide Franchise Lending Nationwide Commercial real estate Construction and development Illinois/Wisconsin Non-construction Illinois/Wisconsin Home equity Illinois/Wisconsin Residential Real Estate Illinois/Wisconsin Premium finance receivables Commercial insurance loans Nationwide and Canada Life insurance loans Nationwide Consumer and other Illinois/Wisconsin 2% 1.2% 1.4% 1.4% 1.5% 4%

 
3030 Abbreviation Definition BOLI Bank Owned Life Insurance BP Basis Point BV Book Value per Common Share CBD Central Business District CET1 Ratio Common Equity Tier 1 Capital Ratio CRE Commercial Real Estate Diluted EPS Net Income per Common Share - Diluted FDIC Federal Deposit Insurance Corporation GAAP Generally Accepted Accounting Principles HOA Homeowners Association Interest Bearing Cash Total Interest-Bearing Deposits with Banks, Securities Purchased under Resale Agreements and Cash Equivalents MSA Metropolitan Statistical Area MSR Mortgage Servicing Right NCO Net Charge Off NII Net Interest Income NIM Net Interest Margin Non-GAAP For non-GAAP metrics, see the reconciliation in the Appendix NP Not Pictured NPA Non-Performing Asset NPL Non-Performing Loan PCD Purchased Credit Deteriorated PFR Premium Finance Receivables PTPP Pre-Tax, Pre-Provision Income RBA Retirement Benefits Advisors ROA Return on Assets ROE Return on Average Common Equity ROTCE Return on Average Tangible Common Equity RWA Risk-Weighted Asset SOFR Secured Overnight Financing Rate TA Total Assets TBV Tangible Book Value TBVPS Tangible Book Value Per Share Glossary

 
3131 Three Months Ended Nine Months Ended Reconciliation of non-GAAP Net Interest Margin and Efficiency Ratio ($ in Thousands): September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2024 2024 2024 2023 2023 2024 2023 (A) Interest Income (GAAP) $908,604 $849,979 $805,513 $793,848 $762,400 $ 2,564,096 $ 2,099,266 Taxable-equivalent adjustment: - Loans 2,474 2,305 2,246 2,150 1,923 7,025 5,677 - Liquidity Management Assets 668 567 550 575 572 1,785 1,674 - Other Earning Assets 2 3 5 4 1 10 6 (B) Interest Income (non-GAAP) $911,748 $852,854 $808,314 $796,577 $764,896 $2,572,916 $2,106,623 (C) Interest Expense (GAAP) $406,021 $379,369 $341,319 $323,874 $300,042 $1,126,709 $731,376 (D) Net Interest Income (GAAP) (A minus C) $502,583 $470,610 $464,194 $469,974 $462,358 $1,437,387 $1,367,890 (E) Net Interest Income (non-GAAP) (B minus C) $505,727 $473,485 $466,995 $472,703 $464,854 $1,446,207 $1,375,247 Net interest margin (GAAP) 3.49 % 3.50 % 3.57 % 3.62 % 3.60 % 3.52 % 3.68 % Net interest margin, fully taxable-equivalent (non-GAAP) 3.51 % 3.52 % 3.59 % 3.64 % 3.62 % 3.54 % 3.70 % (F) Non-interest income $113,147 $121,147 $140,580 $100,829 $112,478 $374,874 $333,277 (G) (Losses) gains on investment securities, net 3,189 (4,282) 1,326 2,484 (2,357) 233 (959) (H) Non-interest expense 360,687 340,353 333,145 362,652 330,055 1,034,185 949,847 Efficiency ratio (H/(D+F-G)) 58.88 % 57.10 % 55.21 % 63.81 % 57.18 % 57.07 % 55.80 % Efficiency ratio (non-GAAP) (H/(E+F-G)) 58.58 % 56.83 % 54.95 % 63.51 % 56.94 % 56.80 % 55.56 % The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Reconciliation of non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $232,709 $211,343 $249,956 $165,243 $224,858 $694,008 $679,838 Add: Provision for credit losses 22,334 40,061 21,673 42,908 19,923 $84,068 $71,482 Pre-tax income, excluding provision for credit losses (non-GAAP) $255,043 $251,404 $271,629 $208,151 $244,781 $778,076 $751,320 Non-GAAP Reconciliation

 
3232 Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $ 232,709 $ 211,343 $ 249,956 $ 165,243 $ 224,858 $ 694,008 $ 679,838 Add: Provision for credit losses 22,334 40,061 21,673 42,908 19,923 84,068 71,482 Pre-tax income, excluding provision for credit losses (non-GAAP) $ 255,043 $ 251,404 $ 271,629 $ 208,151 $ 244,781 $ 778,076 $ 751,320 Three Months Ended Nine Months Ended Reconciliation of non-GAAP Return on Average Tangible Common Equity ($ in Thousands): September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2024 2024 2024 2023 2023 2024 2023 (N) Net income applicable to common shares $163,010 $145,397 $180,303 $116,489 $157,207 $488,710 $478,173 Add: Intangible asset amortization 4,042 1,122 1,158 1,356 1,408 6,322 4,142 Less: Tax effect of intangible asset amortization (1,087) (311) (291) (343) (380) (1,682) (1,102) After-tax intangible asset amortization $ 2,955 $ 811 $ 867 $ 1,013 $ 1,028 $ 4,640 $ 3,040 (O) Tangible net income applicable to common shares (non-GAAP) $165,965 $146,208 $181,170 $117,502 $158,235 493,350 481,213 Total average shareholders’ equity $5,990,429 $5,450,173 $5,440,457 $5,066,196 $5,083,883 $5,628,346 $5,008,648 Less: Average preferred stock (412,500) (412,500) (412,500) (412,500) (412,500) (412,500) $(412,500) (P) Total average common shareholders’ equity $5,577,929 $5,037,673 $5,027,957 $4,653,696 $4,671,383 $5,215,846 $ 4,596,148 Less: Average intangible assets (833,574) (677,207) (678,731) (679,812) (681,520) (730,216) $ (679,799) (Q) Total average tangible common shareholders’ equity (non-GAAP) $4,744,355 $4,360,466 $4,349,226 $3,973,884 $3,989,863 $ 4,485,630 $ 3,916,349 Return on average common equity, annualized (N/P) 11.63 % 11.61 % 14.42 % 9.93 % 13.35 % 12.52 % 13.91 % Return on average tangible common equity, annualized (non-GAAP) (O/Q) 13.92 13.49 16.75 11.73 15.73 14.69 16.43 The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Non-GAAP Reconciliation

 
3333 Three Months Ended Reconciliation of non-GAAP Tangible Common Equity ($'s and Shares in Thousands): September 30, June 30, March 31, December 31, September 30, 2024 2024 2024 2023 2023 Total shareholders’ equity (GAAP) $6,399,714 $5,536,628 $5,436,400 $5,399,526 $5,015,613 Less: Non-convertible preferred stock (GAAP) (412,500) (412,500) (412,500) (412,500) (412,500) Less: Intangible assets (GAAP) (924,646) (676,562) (677,911) (679,561) (680,353) (I) Total tangible common shareholders’ equity (non-GAAP) $5,062,568 $4,447,566 $4,345,989 $4,307,465 $3,922,760 (J) Total assets (GAAP) 63,788,424 59,781,516 57,576,933 56,259,934 55,555,246 Less: Intangible assets (GAAP) (924,646) (676,562) (677,911) (679,561) (680,353) (K) Total tangible assets (non-GAAP) $62,863,778 $59,104,954 $56,899,022 $55,580,373 $54,874,893 Common equity to assets ratio (GAAP) (L/J) 9.4 % 8.6 % 8.7 % 8.9 % 8.3 % Tangible common equity ratio (non-GAAP) (I/K) 8.1 % 7.5 % 7.6 % 7.7 % 7.1 % Reconciliation of non-GAAP Tangible Book Value per Common Share ($'s and Shares in Thousands): Total shareholders’ equity $6,399,714 $5,536,628 $5,436,400 $5,399,526 $5,015,613 Less: Preferred stock (412,500) (412,500) (412,500) (412,500) (412,500) (L) Total common equity $5,987,214 $5,124,128 $5,023,900 $4,987,026 $4,603,113 (M) Actual common shares outstanding 66,482 61,760 61,737 61,244 61,222 Book value per common share (L/M) $90.06 $82.97 $81.38 $81.43 $75.19 Tangible book value per common share (non-GAAP) (I/M) $76.15 $72.01 $70.40 $70.33 $64.07 Reconciliation of Non-GAAP Return on Average Tangible Common Equity: ($'s and Shares in Thousands): September 30, June 30, March 31, December 31, September 30, 2024 2024 2024 2023 2023 (N) Net income applicable to common shares $ 173,207 $ 137,826 $ 1,492 $ 1,579 $ 120,400 Add: Intangible asset amortization 1,235 1,436 $ (425) $ (445) 1,609 Less: Tax effect of intangible asset amortization (321) (370) 1067000 1,134 (430) After-tax intangible asset amortization $ 914 $ 1,066 137,037 88,656 $ 1,179 (O) Tangible net income applicable to common shares (non-GAAP) $ 174,121 $ 138,892 $ 4,795,387 $ 4,526,110 $ 121,579 Total average shareholders’ equity $ 4,895,271 $ 4,710,856 $ (412,500) $ (412,500) $ 4,500,460 Less: Average preferred stock (412,500) (412,500) 4,382,887 4,113,610 (412,500) (P) Total average common shareholders’ equity $ 4,482,771 $ 4,298,356 $ (678,953) $ (681,091) $ 4,087,960 Less: Average intangible assets (675,247) (676,371) 3,703,934 3,432,519 (682,603) (Q) Total average tangible common shareholders’ equity (non-GAAP) $ 3,807,524 $ 3,621,985 $0.12 $0.09 $ 3,405,357 Return on average common equity, annualized (N/P) 15.67 % 12.72 % 11.94 % Return on average tangible common equity, annualized (non-GAAP) (O/Q) 0.1854636737388 63 Three Months Ended Reconciliation of non-GAAP Return on Average Tangible Common Equity ($ in Thousands): September 30, June 30, March 31, December 31, September 30, 2024 2024 2024 2023 2023 (N) Net income applicable to common shares $ 163,010 $ 145,397 $ 180,303 $ 116,489 $ 157,207 Add: Intangible asset amortization $ 4,042 $ 1,122 $ 1,158 $ 1,356 1408000 Less: Tax effect of intangible asset amortization $ (1,087) $ (311) $ (291) $ (343) (380) After-tax intangible asset amortization $ 2,955 $ 811 $ 867 $ 1,013 1,028 (O) Tangible net income applicable to common shares (non-GAAP) $ 165,965 $ 146,208 $ 181,170 $ 117,502 158,235 Total average shareholders’ equity $ 5,990,429 $ 5,450,173 $ 5,440,457 $ 5,066,196 $ 5,083,883 Less: Average preferred stock $ (412,500) $ (412,500) $ (412,500) $ (412,500) $ (412,500) (P) Total average common shareholders’ equity $ 5,577,929 $ 5,037,673 $ 5,027,957 $ 4,653,696 $ 4,671,383 Less: Average intangible assets $ (833,574) $ (677,207) $ (678,731) $ (679,812) $ (681,520) (Q) Total average tangible common shareholders’ equity (non-GAAP) $4,744,355 $4,360,466 $4,349,226 $3,973,884 $3,989,863 Return on average common equity, annualized (N/P) 11.63% 11.61% 14.42% 9.93% 13.35% Return on average tangible common equity, annualized (non-GAAP) (O/Q) 13.92 13.49 16.75 11.73 15.73 Non-GAAP Reconciliation The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

 
v3.24.3
Document and Entity Information Document
Oct. 21, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 21, 2024
Entity Registrant Name WINTRUST FINANCIAL CORP
Entity Incorporation, State or Country Code IL
Entity File Number 001-35077
Entity Tax Identification Number 36-3873352
Entity Address, Address Line One 9700 W. Higgins Road, Suite 800
Entity Address, City or Town Rosemont
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60018
City Area Code 847
Local Phone Number 939-9000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001015328
Amendment Flag false
Common Stock, no par value  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, no par value
Trading Symbol WTFC
Security Exchange Name NASDAQ
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, no par value  
Entity Information [Line Items]  
Title of 12(b) Security Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, no par value
Trading Symbol WTFCM
Security Exchange Name NASDAQ
6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, no par value  
Entity Information [Line Items]  
Title of 12(b) Security 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, no par value
Trading Symbol WTFCP
Security Exchange Name NASDAQ
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