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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): January 21, 2025
 
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 800
RosemontIllinois 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 January 21, 2025, Wintrust Financial Corporation (the “Company”) announced earnings for the fourth quarter of 2024 and posted on its website the Fourth 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 35 through 37 of Exhibit 99.1 and pages 28 through 30 of Exhibit 99.2.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
 
2

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: January 21, 2025
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INDEX TO EXHIBITS
 

4


Exhibit 99.1
Wintrust Financial Corporation
9700 W. Higgins Road, Suite 800, Rosemont, Illinois 60018
News Release
FOR IMMEDIATE RELEASE  January 21, 2025
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 Record Full Year Net Income

ROSEMONT, ILLINOIS – Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced net income of $695.0 million or $10.31 per diluted common share for the year ended December 31, 2024 compared to net income of $622.6 million or $9.58 per diluted common share for the same period of 2023. Pre-tax, pre-provision income (non-GAAP) for the year ended December 31, 2024 totaled a record $1.0 billion, compared to $959.5 million for the same period of 2023.

The Company recorded quarterly net income of $185.4 million or $2.63 per diluted common share for the fourth quarter of 2024 compared to net income of $170.0 million or $2.47 per diluted common share for the third quarter of 2024. Pre-tax, pre-provision income (non-GAAP) totaled $270.1 million as compared to $255.0 million for the third quarter of 2024.

Timothy S. Crane, President and Chief Executive Officer, commented, “We are very pleased with our 2024 results, including record net income for the full year 2024. The Company exhibited consistently strong organic loan and deposit growth throughout 2024 and expanded our geographic footprint into the west Michigan market through the acquisition of Macatawa Bank Corporation (“Macatawa”). We enter 2025 with great momentum in our efforts to further expand the franchise.”

Additionally, Mr. Crane emphasized, “Net interest margin in the fourth quarter was unchanged compared to the third quarter of 2024. Our relative neutral sensitivity to further interest rate changes should allow our net interest margin to remain in the 3.50% range as we move forward into 2025 given the current market consensus outlook. Stable net interest margin coupled with continued balance sheet growth should result in further net interest income growth in 2025. Focusing on building long term franchise value, growth of net interest income, disciplined expense control and maintaining our consistent credit standards remain our priorities in 2025.”

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

•Total loans increased by approximately $1.0 billion, or 8% annualized.
•Total deposits increased by approximately $1.1 billion, or 9% annualized.
•Total assets increased by $1.1 billion, or 7% annualized.
•Net interest income increased to $525.1 million in the fourth quarter of 2024 compared to $502.6 million in the third quarter of 2024, primarily due to average earning asset growth.    
◦Net interest margin remained at 3.49% (3.51% on a fully taxable-equivalent basis, non-GAAP) during the fourth quarter of 2024.
•Non-interest income was impacted by the following:
◦Mortgage banking revenue included a net negative fair value mark of $1.5 million in the fourth quarter of 2024, compared to a net negative fair value mark of $6.9 million in the third quarter of 2024. See Table 16 for details.
◦Net losses on investment securities totaling $2.8 million in the fourth quarter of 2024 related primarily to changes in the value of equity securities as compared to net gains of $3.2 million in the third quarter of 2024.
•Non-interest expense was impacted by the following:
◦The Macatawa Bank acquisition added approximately $15.8 million of total operating expenses, including $4.8 million of core deposit intangible asset amortization in the fourth quarter of 2024 compared to approximately

$10.1 million of total operating expenses, including $3.0 million of core deposit intangible asset amortization in the third quarter of 2024. The additional expense is attributable to one additional month of recognized expenses for Macatawa in the fourth quarter of 2024 as compared to the third quarter of 2024.
◦Incurred acquisition related costs of $1.8 million in the fourth quarter of 2024 as compared to $1.6 million in the third quarter of 2024.
•Provision for credit losses totaled $17.0 million in the fourth quarter of 2024 as compared to a provision for credit losses of $22.3 million in the third quarter of 2024 which included a one-time Macatawa acquisition-related Day 1 provision of approximately $15.5 million.
•Net charge-offs totaled $15.9 million or 13 basis points of average total loans on an annualized basis in the fourth quarter of 2024 compared to $26.7 million or 23 basis points of average total loans on an annualized basis in the third quarter of 2024.

Mr. Crane noted, “A stable net interest margin coupled with earning asset growth resulted in record net interest income in the fourth quarter of 2024 as we grew our net interest income by $22.6 million as compared to the third quarter of 2024. The company continued its consistent, strong loan growth as loans increased by $1.0 billion, or 8% on an annualized basis in the fourth quarter of 2024. Loan pipelines are strong and we remain prudent in our review of credit prospects, ensuring our loan growth adheres to our conservative credit standards. Deposit growth of $1.1 billion, or 9% on an annualized basis, in the fourth quarter of 2024 outpaced loan growth which resulted in our loans to deposits ratio ending the quarter at 91.5%. Non-interest bearing deposits increased $670.9 million compared to the third quarter of 2024 and comprised 22% of total deposits at the end of the fourth 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, “Credit metrics improved for the second consecutive quarter, ending 2024 with overall stable credit quality. Net charge-offs as a percentage of average total loans on an annualized basis improved, with the fourth quarter of 2024 being the low point for the year. Prudent credit management and disciplined underwriting standards continue to support low losses in the portfolios. Non-performing loans also improved in the second half of 2024, with the fourth quarter of 2024 non-performing loans being 0.36% of total loans. Improvement has been experienced in our commercial real estate portfolio, where consistent in-depth reviews of the portfolio have led to positive outcomes by proactively identifying and resolving problem credits. Total non-performing assets, at 0.30% of total assets at year-end, remained consistent with the same level at the end of the third quarter. We continue to be conservative, diversified, and maintain our consistently strong credit standards. We believe that the Company’s reserves are appropriate and we remain diligent in our review of credit.”

In summary, Mr. Crane noted, “We are proud of our results in 2024 and believe we are well-positioned to continue our momentum into the new year. We have successfully reduced our asset sensitivity, leaving us well positioned to deliver improved results independent of interest rate changes. We remain focused on winning new business, expanding our franchise and improving our position in the markets we serve.”


* * *




















The graphs shown on pages 3-8 illustrate certain financial highlights of the fourth 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 $1.1 billion in the fourth quarter of 2024 as compared to the third quarter of 2024. Total loans increased by $1.0 billion as compared to the third quarter of 2024. The increase in loans was diversified across nearly all loan portfolios.

Total liabilities increased by $1.1 billion in the fourth quarter of 2024 as compared to the third quarter of 2024 primarily due to a $1.1 billion increase in total deposits. Strong organic deposit growth in the fourth quarter of 2024 enabled the Company to reduce brokered funding reliance by $482 million as compared to the third quarter of 2024. Non-interest bearing deposits increased $671 million in the fourth quarter of 2024 as compared to the third quarter of 2024. Non-interest bearing deposits as a percentage of total deposits increased to 22% at December 31, 2024, compared to 21% as of September 30, 2024. The Company's loans to deposits ratio was 91.5% on December 31, 2024 as compared to 91.6% as of September 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 fourth quarter of 2024, net interest income totaled $525.1 million, an increase of $22.6 million as compared to the third quarter of 2024. The $22.6 million increase in net interest income in the fourth quarter of 2024 compared to the third quarter of 2024 was primarily due to a $2.6 billion increase in average earning assets.

Net interest margin was 3.49% (3.51% on a fully taxable-equivalent basis, non-GAAP) during the fourth quarter of 2024, unchanged compared to the third quarter of 2024. The yield on earning assets declined 24 basis points during the fourth quarter of 2024 as compared to the third quarter of 2024 primarily due to a 22 basis point decrease in loan yields. The net free funds contribution declined seven basis points compared to the third quarter of 2024 due to a reduced rate paid on interest-bearing liabilities. These declines were offset by a 31 basis point decrease in rate paid on interest-bearing liabilities. The 31 basis point decrease in rate paid on interest-bearing liabilities in the fourth quarter of 2024 as compared to the third quarter of 2024 was primarily due to a 33 basis point decline 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 $437.1 million as of December 31, 2024, relatively unchanged compared to $436.2 million as of September 30, 2024. A provision for credit losses totaling $17.0 million was recorded for the fourth quarter of 2024 as compared to $22.3 million recorded in the third quarter of 2024. The lower provision for credit losses recognized in the fourth quarter of 2024 as compared to the third quarter of 2024 is primarily attributable to the Day 1 provision for credit losses of approximately $15.5 million related to the Macatawa acquisition recognized in the third quarter of 2024. 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 Company is required 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 December 31, 2024, September 30, 2024, and June 30, 2024 is shown on Table 12 of this report.

Net charge-offs totaled $15.9 million in the fourth quarter of 2024, a decrease of $10.8 million as compared to $26.7 million of net charge-offs in the third quarter of 2024. Net charge-offs as a percentage of average total loans were 13 basis points in the fourth quarter of 2024 on an annualized basis compared to 23 basis points on an annualized basis in the third 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 $193.9 million and comprised 0.30% of total assets as of December 31, 2024, as compared to $193.4 million, or 0.30% of total assets, as of September 30, 2024. Non-performing loans totaled $170.8 million and comprised 0.36% of total loans at December 31, 2024, as compared to $179.7 million and 0.38% of total loans at September 30, 2024. The
9
decrease in non-performing loans in the fourth quarter of 2024 was primarily attributable to a decline in commercial real estate nonaccrual loans. For more information regarding non-performing assets, see Table 14 in this report.

NON-INTEREST INCOME

Wealth management revenue increased by $1.6 million in the fourth quarter of 2024 as compared to the third quarter of 2024 primarily due to increased trust and asset management fees from higher assets under management during the period. Approximately $0.6 million of additional wealth management revenue recognized in the fourth quarter of 2024 compared to the third quarter of 2024 relates to one additional month of Macatawa results included in the current quarter. 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 increased by $4.5 million in the fourth quarter of 2024 as compared to the third quarter of 2024 primarily due to a change in net fair value marks, a $5.5 million impact. Partially offsetting the positive fair value impact was a decrease in operational mortgage banking revenue of $1.0 million in the fourth quarter of 2024 compared to the third quarter of 2024. For more information regarding mortgage banking revenue, see Table 16 in this report.

The Company recognized $18.9 million in service charges on deposits accounts in the fourth quarter of 2024 as compared to $16.4 million in the third quarter of 2024. The $2.4 million increase in the fourth quarter of 2024 was primarily the result of increased commercial account analysis fees.

The Company incurred $2.8 million in net losses on investment securities in the fourth quarter of 2024 as compared to $3.2 million in net gains in the third quarter of 2024. The net losses in the fourth quarter of 2024 were primarily the result of unrealized losses on the Company’s equity investment securities with a readily determinable fair value.

Fees from covered call options increased by $1.3 million in the fourth quarter of 2024 as compared to the third 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 $3.5 million in the fourth quarter of 2024 compared to the third quarter of 2024 due to unfavorable foreign currency remeasurement adjustments of $1.4 million and a variety of other smaller miscellaneous revenue declines.

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

NON-INTEREST EXPENSE

Non-interest expenses totaled $368.5 million in the fourth quarter of 2024, increasing $7.9 million as compared to $360.7 million in the third quarter of 2024. The additional expense is attributable to one additional month of recognized expenses for Macatawa in the fourth quarter of 2024 as compared to the third quarter of 2024. The Macatawa acquisition accounted for approximately $5.7 million of the increase, which included $1.8 million in additional amortization of other acquisition-related intangible assets in the fourth quarter of 2024 as compared to the third quarter of 2024.

Salaries and employee benefits expense increased by $872,000 in the fourth quarter of 2024 as compared to the third quarter of 2024. The $872,000 increase is primarily related to increased salaries expense due to the Macatawa acquisition impacting the fourth quarter of 2024 for three months as compared to two months in the third quarter of 2024 as well as increased employee insurance costs in the current quarter. These increases were partially offset by lower incentive compensation expense in the fourth quarter of 2024.

Software and equipment expense increased $2.7 million in the fourth quarter of 2024 as compared to the third 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 fourth quarter of 2024 totaled $13.1 million, which is a $5.1 million decrease as compared to the third quarter of 2024 primarily due to a decrease in sports sponsorships. 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,
10
targeted audience, competition and various other factors. Generally, these expenses are elevated in the second and third quarters of each year.

Professional fees expense totaled $11.3 million in the fourth quarter of 2024, an increase of $1.6 million as compared to the third quarter of 2024. The increase in the current quarter relates primarily to increased fees on consulting services. Professional fees include legal, audit, and tax fees, external loan review costs, consulting arrangements and normal regulatory exam assessments.

The Company recorded net OREO expense of $397,000 in the fourth quarter of 2024, compared to net OREO income of $938,000 in the third quarter of 2024. The net OREO income in the third quarter of 2024 was primarily the result of realized gains on sales of OREO. Net OREO expenses also include all costs associated with obtaining, maintaining and selling other real estate owned properties as well as valuation adjustments.

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

INCOME TAXES

The Company recorded income tax expense of $67.7 million in the fourth quarter compared to $62.7 million in the third quarter of 2024. The effective tax rates were 26.76% in the fourth quarter of 2024 compared to 26.95% in the third quarter of 2024.

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 fourth quarter of 2024, the community banking unit increased its commercial, commercial real estate and residential real estate loan portfolios.

Mortgage banking revenue was $20.5 million for the fourth quarter of 2024, an increase of $4.5 million as compared to the third quarter of 2024, primarily due to a change in net fair value marks, a $5.5 million impact. Partially offsetting the positive fair value impact was a decrease in operational mortgage banking revenue of $1.0 million in the fourth quarter of 2024 compared to the third quarter of 2024. See Table 16 for more detail. Service charges on deposit accounts totaled $18.9 million in the fourth quarter of 2024 as compared to $16.4 million in the third quarter of 2024. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of December 31, 2024 indicating momentum for expected continued loan growth in the first quarter of 2025.

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 $5.1 billion during the fourth quarter of 2024. Average balances increased by $11.6 million, as compared to the third quarter of 2024. The Company’s leasing portfolio balance increased in the fourth quarter of 2024, with its portfolio of assets, including capital leases, loans and equipment on operating leases, totaling $3.9 billion as of December 31, 2024 as compared to $3.7 billion as of September 30, 2024. Revenues from the Company’s out-sourced administrative services business were $1.3 million in the fourth quarter of 2024, which was relatively stable compared to the third 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 $38.8 million in the fourth quarter of 2024, up slightly as compared to the third quarter of 2024. At December 31, 2024, the Company’s wealth management subsidiaries had approximately $51.2 billion of assets under administration, which included $8.5 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 carrying values of approximately $2.7 billion in assets, $2.3 billion in deposits and $1.4 billion in loans. As of December 31, 2024, the Company recorded preliminary goodwill of approximately $142.1 million on the purchase. The initial purchase accounting for the acquisition, in accordance with GAAP, for this business combination is not finalized and is therefore subject to change.

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.




12
WINTRUST FINANCIAL CORPORATION
Key Operating Measures

Wintrust’s key operating measures and growth rates for the fourth quarter of 2024, as compared to the third quarter of 2024 (sequential quarter) and fourth quarter of 2023 (linked quarter), are shown in the table below:
% or (1)
basis point  (bp) change from
3rd Quarter
2024
% or
basis point  (bp) change from
4th Quarter
2023
  
Three Months Ended
(Dollars in thousands, except per share data)Dec 31, 2024Sep 30, 2024Dec 31, 2023
Net income$185,362 $170,001 $123,480 9 % 50 % 
Pre-tax income, excluding provision for credit losses (non-GAAP) (2)
270,060 255,043 208,151 6 30 
Net income per common share – Diluted2.63 2.47 1.87 6 41 
Cash dividends declared per common share0.45 0.45 0.40 — 13 
Net revenue (3)
638,599 615,730 570,803 4 12 
Net interest income525,148 502,583 469,974 4 12 
Net interest margin3.49 %3.49 %3.62 %— bps(13)bps
Net interest margin – fully taxable-equivalent (non-GAAP) (2)
3.51 3.51 3.64 — (13)
Net overhead ratio (4)
1.60 1.62 1.89 (2)(29)
Return on average assets1.16 1.11 0.89 5 27 
Return on average common equity11.82 11.63 9.93 19 189 
Return on average tangible common equity (non-GAAP) (2)
14.29 13.92 11.73 37 256 
At end of period
Total assets$64,879,668$63,788,424$56,259,9347 % 15 % 
Total loans (5)
48,055,03747,067,44742,131,8318 14 
Total deposits52,512,34951,404,96645,397,1709 16 
Total shareholders’ equity6,344,2976,399,7145,399,526(3)17 
(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.”

13
WINTRUST FINANCIAL CORPORATION
Selected Financial Highlights
 Three Months EndedYears Ended
(Dollars in thousands, except per share data)Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Selected Financial Condition Data (at end of period):
Total assets$64,879,668$63,788,424$59,781,516$57,576,933$56,259,934
Total loans (1)
48,055,03747,067,44744,675,53143,230,70642,131,831
Total deposits52,512,34951,404,96648,049,02646,448,85845,397,170
Total shareholders’ equity6,344,2976,399,7145,536,6285,436,4005,399,526
Selected Statements of Income Data:
Net interest income$525,148 $502,583 $470,610 $464,194 $469,974 $1,962,535 $1,837,864 
Net revenue (2)
638,599 615,730 591,757 604,774 570,803 2,450,860 2,271,970 
Net income185,362 170,001 152,388 187,294 123,480 695,045 622,626 
Pre-tax income, excluding provision for credit losses (non-GAAP) (3)
270,060 255,043 251,404 271,629 208,151 1,048,136 959,471 
Net income per common share – Basic2.68 2.51 2.35 2.93 1.90 10.47 9.72 
Net income per common share – Diluted2.63 2.47 2.32 2.89 1.87 10.31 9.58 
Cash dividends declared per common share0.45 0.45 0.45 0.45 0.40 1.80 1.60 
Selected Financial Ratios and Other Data:
Performance Ratios:
Net interest margin 3.49 %3.49 %3.50 %3.57 %3.62 %3.51 %3.66 %
Net interest margin – fully taxable-equivalent (non-GAAP) (3)
3.51 3.51 3.52 3.59 3.64 3.53 3.68 
Non-interest income to average assets0.71 0.74 0.85 1.02 0.73 0.82 0.81 
Non-interest expense to average assets2.31 2.36 2.38 2.41 2.62 2.36 2.45 
Net overhead ratio (4)
1.60 1.62 1.53 1.39 1.89 1.54 1.64 
Return on average assets1.16 1.11 1.07 1.35 0.89 1.17 1.16 
Return on average common equity11.82 11.63 11.61 14.42 9.93 12.32 12.90 
Return on average tangible common equity (non-GAAP) (3)
14.29 13.92 13.49 16.75 11.73 14.58 15.23 
Average total assets$63,594,105 $60,915,283 $57,493,184 $55,602,695 $55,017,075 $59,416,909 $53,529,506 
Average total shareholders’ equity6,418,403 5,990,429 5,450,173 5,440,457 5,066,196 5,826,940 5,023,153 
Average loans to average deposits ratio 91.9 %93.8 %95.1 %94.5 %92.9 %93.8 %93.1 %
Period-end loans to deposits ratio 91.5 91.6 93.0 93.1 92.8 
Common Share Data at end of period:
Market price per common share$124.71 $108.53 $98.56 $104.39 $92.75 
Book value per common share89.21 90.06 82.97 81.38 81.43 
Tangible book value per common share (non-GAAP) (3)
75.39 76.15 72.01 70.40 70.33 
Common shares outstanding66,495,22766,481,54361,760,13961,736,71561,243,626
Other Data at end of period:
Common equity to assets ratio9.1 %9.4 %8.6 %8.7 %8.9 %
Tangible common equity ratio (non-GAAP)(3)
7.8 8.1 7.5 7.6 7.7 
Tier 1 leverage ratio (5)
9.4 9.6 9.3 9.4 9.3 
Risk-based capital ratios:
Tier 1 capital ratio (5)
10.6 10.6 10.3 10.3 10.3 
Common equity tier 1 capital ratio (5)
9.9 9.8 9.5 9.5 9.4 
Total capital ratio (5)
12.2 12.2 12.1 12.2 12.1 
Allowance for credit losses (6)
$437,060 $436,193 $437,560 $427,504 $427,612 
Allowance for loan and unfunded lending-related commitment losses to total loans0.91 %0.93 %0.98 %0.99 %1.01 %
Number of:
Bank subsidiaries16 16 15 15 15 
Banking offices205 203 177 176 174 
(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.
14
WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION
 
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(In thousands)20242024202420242023
Assets
Cash and due from banks$452,017 $725,465 $415,462 $379,825 $423,404 
Federal funds sold and securities purchased under resale agreements6,519 5,663 62 61 60 
Interest-bearing deposits with banks4,409,753 3,648,117 2,824,314 2,131,077 2,084,323 
Available-for-sale securities, at fair value4,141,482 3,912,232 4,329,957 4,387,598 3,502,915 
Held-to-maturity securities, at amortized cost3,613,263 3,677,420 3,755,924 3,810,015 3,856,916 
Trading account securities4,072 3,472 4,134 2,184 4,707 
Equity securities with readily determinable fair value215,412 125,310 112,173 119,777 139,268 
Federal Home Loan Bank and Federal Reserve Bank stock281,407 266,908 256,495 224,657 205,003 
Brokerage customer receivables18,102 16,662 13,682 13,382 10,592 
Mortgage loans held-for-sale, at fair value331,261 461,067 411,851 339,884 292,722 
Loans, net of unearned income48,055,037 47,067,447 44,675,531 43,230,706 42,131,831 
Allowance for loan losses(364,017)(360,279)(363,719)(348,612)(344,235)
Net loans47,691,020 46,707,168 44,311,812 42,882,094 41,787,596 
Premises, software and equipment, net779,130 772,002 722,295 744,769 748,966 
Lease investments, net278,264 270,171 275,459 283,557 281,280 
Accrued interest receivable and other assets1,739,334 1,721,090 1,671,334 1,580,142 1,551,899 
Trade date securities receivable— 551,031 — — 690,722 
Goodwill796,942 800,780 655,955 656,181 656,672 
Other acquisition-related intangible assets121,690 123,866 20,607 21,730 22,889 
Total assets$64,879,668 $63,788,424 $59,781,516 $57,576,933 $56,259,934 
Liabilities and Shareholders’ Equity
Deposits:
Non-interest-bearing$11,410,018 $10,739,132 $10,031,440 $9,908,183 $10,420,401 
Interest-bearing41,102,331 40,665,834 38,017,586 36,540,675 34,976,769 
Total deposits52,512,349 51,404,966 48,049,026 46,448,858 45,397,170 
Federal Home Loan Bank advances3,151,309 3,171,309 3,176,309 2,676,751 2,326,071 
Other borrowings534,803 647,043 606,579 575,408 645,813 
Subordinated notes298,283 298,188 298,113 437,965 437,866 
Junior subordinated debentures253,566 253,566 253,566 253,566 253,566 
Accrued interest payable and other liabilities1,785,061 1,613,638 1,861,295 1,747,985 1,799,922 
Total liabilities58,535,371 57,388,710 54,244,888 52,140,533 50,860,408 
Shareholders’ Equity:
Preferred stock412,500 412,500 412,500 412,500 412,500 
Common stock66,560 66,546 61,825 61,798 61,269 
Surplus2,482,561 2,470,228 1,964,645 1,954,532 1,943,806 
Treasury stock(6,153)(6,098)(5,760)(5,757)(2,217)
Retained earnings3,897,164 3,748,715 3,615,616 3,498,475 3,345,399 
Accumulated other comprehensive loss(508,335)(292,177)(512,198)(485,148)(361,231)
Total shareholders’ equity6,344,297 6,399,714 5,536,628 5,436,400 5,399,526 
Total liabilities and shareholders’ equity$64,879,668 $63,788,424 $59,781,516 $57,576,933 $56,259,934 

15
WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months EndedYears Ended
(Dollars in thousands, except per share data)Dec 31,
2024		Sep 30,
2024		Jun 30,
2024		Mar 31,
2024		Dec 31,
2023		Dec 31, 2024Dec 31, 2023
Interest income
Interest and fees on loans$789,038 $794,163 $749,812 $710,341 $694,943 $3,043,354 $2,540,952 
Mortgage loans held-for-sale5,623 6,233 5,434 4,146 4,318 21,436 16,791 
Interest-bearing deposits with banks46,256 32,608 19,731 16,658 21,762 115,253 78,978 
Federal funds sold and securities purchased under resale agreements53 277 17 19 578 366 1,806 
Investment securities67,066 69,592 69,779 69,678 68,237 276,115 238,587 
Trading account securities6 11 13 18 15 48 41 
Federal Home Loan Bank and Federal Reserve Bank stock5,157 5,451 4,974 4,478 3,792 20,060 14,912 
Brokerage customer receivables302 269 219 175 203 965 1,047 
Total interest income913,501 908,604 849,979 805,513 793,848 3,477,597 2,893,114 
Interest expense
Interest on deposits346,388 362,019 335,703 299,532 285,390 1,343,642 906,470 
Interest on Federal Home Loan Bank advances26,050 26,254 24,797 22,048 18,316 99,149 72,286 
Interest on other borrowings7,519 9,013 8,700 9,248 9,557 34,480 35,280 
Interest on subordinated notes3,733 3,712 5,185 5,487 5,522 18,117 22,024 
Interest on junior subordinated debentures4,663 5,023 4,984 5,004 5,089 19,674 19,190 
Total interest expense388,353 406,021 379,369 341,319 323,874 1,515,062 1,055,250 
Net interest income525,148 502,583 470,610 464,194 469,974 1,962,535 1,837,864 
Provision for credit losses16,979 22,334 40,061 21,673 42,908 101,047 114,390 
Net interest income after provision for credit losses508,169 480,249 430,549 442,521 427,066 1,861,488 1,723,474 
Non-interest income
Wealth management38,775 37,224 35,413 34,815 33,275 146,227 130,607 
Mortgage banking20,452 15,974 29,124 27,663 7,433 93,213 83,073 
Service charges on deposit accounts18,864 16,430 15,546 14,811 14,522 65,651 55,250 
(Losses) gains on investment securities, net(2,835)3,189 (4,282)1,326 2,484 (2,602)1,525 
Fees from covered call options2,305 988 2,056 4,847 4,679 10,196 21,863 
Trading (losses) gains, net(113)(130)70 677 (505)504 1,142 
Operating lease income, net15,327 15,335 13,938 14,110 14,162 58,710 53,298 
Other20,676 24,137 29,282 42,331 24,779 116,426 87,348 
Total non-interest income113,451 113,147 121,147 140,580 100,829 488,325 434,106 
Non-interest expense
Salaries and employee benefits212,133 211,261 198,541 195,173 193,971 817,108 748,013 
Software and equipment34,258 31,574 29,231 27,731 27,779 122,794 104,632 
Operating lease equipment10,263 10,518 10,834 10,683 10,694 42,298 42,363 
Occupancy, net20,597 19,945 19,585 19,086 18,102 79,213 77,068 
Data processing10,957 9,984 9,503 9,292 8,892 39,736 38,800 
Advertising and marketing13,097 18,239 17,436 13,040 17,166 61,812 65,075 
Professional fees11,334 9,783 9,967 9,553 8,768 40,637 34,758 
Amortization of other acquisition-related intangible assets5,773 4,042 1,122 1,158 1,356 12,095 5,498 
FDIC insurance10,640 10,512 10,429 14,537 43,677 46,118 71,102 
OREO expenses, net397 (938)(259)392 (1,559)(408)(1,528)
Other39,090 35,767 33,964 32,500 33,806 141,321 126,718 
Total non-interest expense368,539 360,687 340,353 333,145 362,652 1,402,724 1,312,499 
Income before taxes253,081 232,709 211,343 249,956 165,243 947,089 845,081 
Income tax expense67,719 62,708 58,955 62,662 41,763 252,044 222,455 
Net income$185,362 $170,001 $152,388 $187,294 $123,480 $695,045 $622,626 
Preferred stock dividends6,991 6,991 6,991 6,991 6,991 27,964 27,964 
Net income applicable to common shares$178,371 $163,010 $145,397 $180,303 $116,489 $667,081 $594,662 
Net income per common share - Basic$2.68 $2.51 $2.35 $2.93 $1.90 $10.47 $9.72 
Net income per common share - Diluted$2.63 $2.47 $2.32 $2.89 $1.87 $10.31 $9.58 
Cash dividends declared per common share$0.45 $0.45 $0.45 $0.45 $0.40 $1.80 $1.60 
Weighted average common shares outstanding66,49164,88861,83961,48161,23663,68561,149
Dilutive potential common shares1,233 1,053 926 928 1,166 1,016 938 
Average common shares and dilutive common shares67,724 65,941 62,765 62,409 62,402 64,701 62,087 
16
TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES
   % Growth From
(Dollars in thousands)Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31,
2024		Dec 31, 2023
Sep 30, 2024 (1)
Dec 31, 2023
Balance:
Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies$189,774 $314,693 $281,103 $193,064 $155,529 (158)%22 %
Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies141,487 146,374 130,748 146,820 137,193 (13)3 
Total mortgage loans held-for-sale$331,261 $461,067 $411,851 $339,884 $292,722 (112)%13 %
Core loans:
Commercial
Commercial and industrial$6,861,735 $6,768,382 $6,226,336 $6,105,968 $5,804,629 5 %18 %
Asset-based lending1,611,001 1,709,685 1,465,867 1,355,255 1,433,250 (23)12 
Municipal826,653 827,125 747,357 721,526 677,143 0 22 
Leases2,537,325 2,443,721 2,439,128 2,344,295 2,208,368 15 15 
PPP loans5,687 6,301 9,954 11,036 11,533 (39)(51)
Commercial real estate
Residential construction48,617 73,088 55,019 57,558 58,642 (133)(17)
Commercial construction2,065,775 1,984,240 1,866,701 1,748,607 1,729,937 16 19 
Land319,689 346,362 338,831 344,149 295,462 (31)8 
Office1,656,109 1,675,286 1,585,312 1,566,748 1,455,417 (5)14 
Industrial2,628,576 2,527,932 2,307,455 2,190,200 2,135,876 16 23 
Retail1,374,655 1,404,586 1,365,753 1,366,415 1,337,517 (8)3 
Multi-family3,125,505 3,193,339 2,988,940 2,922,432 2,815,911 (8)11 
Mixed use and other1,685,018 1,588,584 1,439,186 1,437,328 1,515,402 24 11 
Home equity445,028 427,043 356,313 340,349 343,976 17 29 
Residential real estate
Residential real estate loans for investment3,456,009 3,252,649 2,933,157 2,746,916 2,619,083 25 32 
Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies114,985 92,355 88,503 90,911 92,780 97 24 
Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies41,771 43,034 45,675 52,439 57,803 (12)(28)
Total core loans$28,804,138 $28,363,712 $26,259,487 $25,402,132 $24,592,729 6 %17 %
Niche loans:
Commercial
Franchise$1,268,521 $1,191,686 $1,150,460 $1,122,302 $1,092,532 26 %16 %
Mortgage warehouse lines of credit893,854 750,462 593,519 403,245 230,211 76 288 
Community Advantage - homeowners association525,446 501,645 491,722 475,832 452,734 19 16 
Insurance agency lending1,044,329 1,048,686 1,030,119 964,022 921,653 (2)13 
Premium Finance receivables
U.S. property & casualty insurance6,447,625 6,253,271 6,142,654 6,113,993 5,983,103 12 8 
Canada property & casualty insurance824,417 878,410 958,099 826,026 920,426 (24)(10)
Life insurance8,147,145 7,996,899 7,962,115 7,872,033 7,877,943 7 3 
Consumer and other99,562 82,676 87,356 51,121 60,500 81 65 
Total niche loans$19,250,899 $18,703,735 $18,416,044 $17,828,574 $17,539,102 12 %10 %
Total loans, net of unearned income$48,055,037 $47,067,447 $44,675,531 $43,230,706 $42,131,831 8 %14 %
(1)Annualized.

17
TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES

    % Growth From
(Dollars in thousands)Dec 31,
2024		Sep 30,
2024		Jun 30,
2024		Mar 31,
2024		Dec 31,
2023
Sep 30,
2024 (1)
Dec 31, 2023
Balance:
Non-interest-bearing$11,410,018$10,739,132$10,031,440$9,908,183$10,420,40125 %9 %
NOW and interest-bearing demand deposits5,865,5465,466,9325,053,9095,720,9475,797,64929 1 
Wealth management deposits (2)
1,469,0641,303,3541,490,7111,347,8171,614,49951 (9)
Money market17,975,19117,713,72616,320,01715,617,71715,149,2156 19 
Savings6,372,4996,183,2495,882,1795,959,7745,790,33412 10 
Time certificates of deposit9,420,0319,998,5739,270,7707,894,4206,625,072(23)42 
Total deposits $52,512,349$51,404,966$48,049,026$46,448,858$45,397,1709 %16 %
Mix:
Non-interest-bearing22 %21 %21 %21 %23 %
NOW and interest-bearing demand deposits11 11 11 12 13 
Wealth management deposits (2)
3 3 3 3 4 
Money market34 34 34 34 33 
Savings12 12 12 13 13 
Time certificates of deposit18 19 19 17 14 
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 December 31, 2024
(Dollars in thousands)Total Time
Certificates of
Deposit		Weighted-Average
Rate of Maturing
Time Certificates
    of Deposit
1-3 months$3,301,111 4.52 %
4-6 months3,743,113 4.31 
7-9 months1,422,013 3.87 
10-12 months595,058 3.48 
13-18 months129,136 2.93 
19-24 months55,456 2.52 
24+ months174,144 2.56 
Total$9,420,031 4.20 %


18
TABLE 4: QUARTERLY AVERAGE BALANCES
 Average Balance for three months ended,
 Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(In thousands)20242024202420242023
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$3,934,016 $2,413,728 $1,485,481 $1,254,332 $1,682,176 
Investment securities (2)
8,090,271 8,276,576 8,203,764 8,349,796 7,971,068 
FHLB and FRB stock271,825 263,707 253,614 230,648 204,593 
Liquidity management assets (3)
$12,296,112 $10,954,011 $9,942,859 $9,834,776 $9,857,837 
Other earning assets (3)(4)
20,528 17,542 15,257 15,081 14,821 
Mortgage loans held-for-sale378,707 376,251 347,236 290,275 279,569 
Loans, net of unearned income (3)(5)
47,153,014 45,920,586 43,819,354 42,129,893 41,361,952 
Total earning assets (3)
$59,848,361 $57,268,390 $54,124,706 $52,270,025 $51,514,179 
Allowance for loan and investment security losses(367,238)(383,736)(360,504)(361,734)(329,441)
Cash and due from banks470,033 467,333 434,916 450,267 443,989 
Other assets3,642,949 3,563,296 3,294,066 3,244,137 3,388,348 
Total assets
$63,594,105 $60,915,283 $57,493,184 $55,602,695 $55,017,075 
NOW and interest-bearing demand deposits$5,601,672 $5,174,673 $4,985,306 $5,680,265 $5,868,976 
Wealth management deposits1,430,163 1,362,747 1,531,865 1,510,203 1,704,099 
Money market accounts17,579,395 16,436,111 15,272,126 14,474,492 14,212,320 
Savings accounts6,288,727 6,096,746 5,878,844 5,792,118 5,676,155 
Time deposits9,702,948 9,598,109 8,546,172 7,148,456 6,645,980 
Interest-bearing deposits$40,602,905 $38,668,386 $36,214,313 $34,605,534 $34,107,530 
Federal Home Loan Bank advances3,160,658 3,178,973 3,096,920 2,728,849 2,326,073 
Other borrowings577,786 622,792 587,262 627,711 633,673 
Subordinated notes298,225 298,135 410,331 437,893 437,785 
Junior subordinated debentures253,566 253,566 253,566 253,566 253,566 
Total interest-bearing liabilities
$44,893,140 $43,021,852 $40,562,392 $38,653,553 $37,758,627 
Non-interest-bearing deposits10,718,738 10,271,613 9,879,134 9,972,646 10,406,585 
Other liabilities1,563,824 1,631,389 1,601,485 1,536,039 1,785,667 
Equity6,418,403 5,990,429 5,450,173 5,440,457 5,066,196 
Total liabilities and shareholders’ equity
$63,594,105 $60,915,283 $57,493,184 $55,602,695 $55,017,075 
Net free funds/contribution (6)
$14,955,221 $14,246,538 $13,562,314 $13,616,472 $13,755,552 
(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.

19
TABLE 5: QUARTERLY NET INTEREST INCOME

 Net Interest Income for three months ended,
 Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(In thousands)20242024202420242023
Interest income:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents$46,308 $32,885 $19,748 $16,677 $22,340 
Investment securities67,783 70,260 70,346 70,228 68,812 
FHLB and FRB stock5,157 5,451 4,974 4,478 3,792 
Liquidity management assets (1)
$119,248 $108,596 $95,068 $91,383 $94,944 
Other earning assets (1)
310 282 235 198 222 
Mortgage loans held-for-sale5,623 6,233 5,434 4,146 4,318 
Loans, net of unearned income (1)
791,390 796,637 752,117 712,587 697,093 
Total interest income$916,571 $911,748 $852,854 $808,314 $796,577 
Interest expense:
NOW and interest-bearing demand deposits$31,695 $30,971 $32,719 $34,896 $38,124 
Wealth management deposits9,412 10,158 10,294 10,461 12,076 
Money market accounts159,945 167,382 155,100 137,984 130,252 
Savings accounts38,402 42,892 41,063 39,071 36,463 
Time deposits106,934 110,616 96,527 77,120 68,475 
Interest-bearing deposits$346,388 $362,019 $335,703 $299,532 $285,390 
Federal Home Loan Bank advances26,050 26,254 24,797 22,048 18,316 
Other borrowings7,519 9,013 8,700 9,248 9,557 
Subordinated notes3,733 3,712 5,185 5,487 5,522 
Junior subordinated debentures4,663 5,023 4,984 5,004 5,089 
Total interest expense$388,353 $406,021 $379,369 $341,319 $323,874 
Less: Fully taxable-equivalent adjustment(3,070)(3,144)(2,875)(2,801)(2,729)
Net interest income (GAAP) (2)
525,148 502,583 470,610 464,194 469,974 
Fully taxable-equivalent adjustment3,070 3,144 2,875 2,801 2,729 
Net interest income, fully taxable-equivalent (non-GAAP) (2)
$528,218 $505,727 $473,485 $466,995 $472,703 
(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.

20
TABLE 6: QUARTERLY NET INTEREST MARGIN

 Net Interest Margin for three months ended,
Dec 31, 2024Sep 30, 2024Jun 30,
2024		Mar 31, 2024Dec 31,
2023
Yield earned on:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents4.68 %5.42 %5.35 %5.35 %5.27 %
Investment securities3.33 3.38 3.45 3.38 3.42 
FHLB and FRB stock7.55 8.22 7.89 7.81 7.35 
Liquidity management assets3.86 %3.94 %3.85 %3.74 %3.82 %
Other earning assets6.01 6.38 6.23 5.25 5.92 
Mortgage loans held-for-sale5.91 6.59 6.29 5.74 6.13 
Loans, net of unearned income6.68 6.90 6.90 6.80 6.69 
Total earning assets6.09 %6.33 %6.34 %6.22 %6.13 %
Rate paid on:
NOW and interest-bearing demand deposits2.25 %2.38 %2.64 %2.47 %2.58 %
Wealth management deposits2.62 2.97 2.70 2.79 2.81 
Money market accounts3.62 4.05 4.08 3.83 3.64 
Savings accounts2.43 2.80 2.81 2.71 2.55 
Time deposits4.38 4.58 4.54 4.34 4.09 
Interest-bearing deposits3.39 %3.72 %3.73 %3.48 %3.32 %
Federal Home Loan Bank advances3.28 3.29 3.22 3.25 3.12 
Other borrowings5.18 5.76 5.96 5.92 5.98 
Subordinated notes4.98 4.95 5.08 5.04 5.00 
Junior subordinated debentures7.32 7.88 7.91 7.94 7.96 
Total interest-bearing liabilities3.44 %3.75 %3.76 %3.55 %3.40 %
Interest rate spread (1)(2)
2.65 %2.58 %2.58 %2.67 %2.73 %
Less: Fully taxable-equivalent adjustment(0.02)(0.02)(0.02)(0.02)(0.02)
Net free funds/contribution (3)
0.86 0.93 0.94 0.92 0.91 
Net interest margin (GAAP) (2)
3.49 %3.49 %3.50 %3.57 %3.62 %
Fully taxable-equivalent adjustment0.02 0.02 0.02 0.02 0.02 
Net interest margin, fully taxable-equivalent (non-GAAP) (2)
3.51 %3.51 %3.52 %3.59 %3.64 %
(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.




21
TABLE 7: YEAR-TO-DATE AVERAGE BALANCES, AND NET INTEREST INCOME AND MARGIN

 
Average Balance
for twelve months ended,
Interest
for twelve months ended,
Yield/Rate
for twelve months ended,
(Dollars in thousands)Dec 31, 2024Dec 31,
2023		Dec 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$2,276,818 $1,608,835 $115,618 $80,783 5.08 %5.02 %
Investment securities (2)
8,229,846 7,721,661 278,617 240,837 3.39 3.12 
FHLB and FRB stock255,018 215,699 20,060 14,912 7.87 6.91 
Liquidity management assets (3)(4)
$10,761,682 $9,546,195 $414,295 $336,532 3.85 %3.53 %
Other earning assets (3)(4)(5)
17,113 17,129 1,025 1,098 5.99 6.41 
Mortgage loans held-for-sale348,278 294,421 21,436 16,791 6.15 5.70 
Loans, net of unearned income (3)(4)(6)
44,765,445 40,324,472 3,052,731 2,548,779 6.82 6.32 
Total earning assets (4)
$55,892,518 $50,182,217 $3,489,487 $2,903,200 6.24 %5.79 %
Allowance for loan and investment security losses(368,342)(308,724)
Cash and due from banks455,708 468,298 
Other assets3,437,025 3,187,715 
Total assets
$59,416,909 $53,529,506 
NOW and interest-bearing demand deposits$5,360,630 $5,626,277 $130,281 $122,074 2.43 %2.17 %
Wealth management deposits1,458,404 1,730,523 40,324 42,782 2.76 2.47 
Money market accounts15,946,363 13,665,248 620,411 429,900 3.89 3.15 
Savings accounts6,015,085 5,299,205 161,429 109,666 2.68 2.07 
Time deposits8,753,848 5,952,537 391,197 202,048 4.47 3.39 
Interest-bearing deposits$37,534,330 $32,273,790 $1,343,642 $906,470 3.58 %2.81 %
Federal Home Loan Bank advances3,042,052 2,316,722 99,149 72,287 3.26 3.12 
Other borrowings603,868 630,115 34,480 35,280 5.71 5.60 
Subordinated notes360,802 437,604 18,117 22,023 5.02 5.03 
Junior subordinated debentures253,566 253,566 19,674 19,190 7.76 7.57 
Total interest-bearing liabilities
$41,794,618 $35,911,797 $1,515,062 $1,055,250 3.63 %2.94 %
Non-interest-bearing deposits10,212,088 11,018,596 
Other liabilities1,583,263 1,575,960 
Equity5,826,940 5,023,153 
Total liabilities and shareholders’ equity
$59,416,909 $53,529,506 
Interest rate spread (4)(7)
2.61 %2.85 %
Less: Fully taxable-equivalent adjustment(11,890)(10,086)(0.02)(0.02)
Net free funds/contribution (8)
$14,097,900 $14,270,420 0.92 0.83 
Net interest income/margin (GAAP) (4)
$1,962,535 $1,837,864 3.51 %3.66 %
Fully taxable-equivalent adjustment11,890 10,0860.02 0.02 
Net interest income/margin, fully taxable-equivalent (non-GAAP) (4)
$1,974,425 $1,847,950 3.53 %3.68 %
(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.
22
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 as compared to projected net interest income in a scenario with no assumed rate changes. 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
Dec 31, 2024(1.6)%(0.6)%(0.3)%(1.5)%
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)

Ramp Scenario+200 Basis Points+100 Basis Points-100 Basis Points-200 Basis Points
Dec 31, 2024(0.2)%0.0 %0.0 %(0.3)%
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)

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. As the current interest rate cycle progressed, management took action to reposition its sensitivity to interest rates. 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.


23
TABLE 9: MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES
Loans repricing or contractual maturity period
As of December 31, 2024One year or
less		From one to
five years		From five to fifteen yearsAfter fifteen yearsTotal
(In thousands)
Commercial
Fixed rate$419,733 $3,452,609 $2,001,276 $26,914 $5,900,532 
Variable rate9,673,183 836 — — 9,674,019 
Total commercial$10,092,916 $3,453,445 $2,001,276 $26,914 $15,574,551 
Commercial real estate
Fixed rate$611,473 $2,842,450 $389,550 $60,813 $3,904,286 
Variable rate8,987,087 12,504 67 — 8,999,658 
Total commercial real estate$9,598,560 $2,854,954 $389,617 $60,813 $12,903,944 
Home equity
Fixed rate$9,106 $1,138 $— $20 $10,264 
Variable rate434,764 — — — 434,764 
Total home equity$443,870 $1,138 $— $20 $445,028 
Residential real estate
Fixed rate$12,157 $4,594 $76,321 $1,093,139 $1,186,211 
Variable rate90,855 584,092 1,751,607 — 2,426,554 
Total residential real estate$103,012 $588,686 $1,827,928 $1,093,139 $3,612,765 
Premium finance receivables - property & casualty
Fixed rate$7,179,672 $92,370 $— $— $7,272,042 
Variable rate— — — — — 
Total premium finance receivables - property & casualty$7,179,672 $92,370 $— $— $7,272,042 
Premium finance receivables - life insurance
Fixed rate$271,528 $318,470 $4,000 $4,451 $598,449 
Variable rate7,548,696 — — — 7,548,696 
Total premium finance receivables - life insurance$7,820,224 $318,470 $4,000 $4,451 $8,147,145 
Consumer and other
Fixed rate$32,507 $7,587 $927 $920 $41,941 
Variable rate57,621 — — — 57,621 
Total consumer and other$90,128 $7,587 $927 $920 $99,562 
Total per category
Fixed rate$8,536,176 $6,719,218 $2,472,074 $1,186,257 $18,913,725 
Variable rate26,792,206 597,432 1,751,674 — 29,141,312 
Total loans, net of unearned income$35,328,382 $7,316,650 $4,223,748 $1,186,257 $48,055,037 
Less: Existing cash flow hedging derivatives (1)
(6,700,000)
Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity$28,628,382 
Variable Rate Loan Pricing by Index:
SOFR tenors (2)
$18,029,528 
12- month CMT (3)
6,355,203 
Prime3,388,920 
Fed Funds886,812 
Other U.S. Treasury tenors190,576 
Other290,273 
Total variable rate$29,141,312 
(1)Excludes cash flow hedges with future effective starting dates.
(2)SOFR - Secured Overnight Financing Rate.
(3)CMT - Constant Maturity Treasury Rate.







24

liborergc1a.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 $14.9 billion tied to one-month SOFR and $6.4 billion tied to twelve-month CMT. The above chart shows:

Basis Point (bp) Change in
1-month
SOFR		12- month CMTPrime
Fourth Quarter 2024(52)bps18bps(50)bps
Third Quarter 2024(49)(111)(50)
Second Quarter 2024160
First Quarter 2024(2)240
Fourth Quarter 20233(67)0


25
TABLE 10: ALLOWANCE FOR CREDIT LOSSES
Three Months EndedYears Ended
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,Dec 31,Dec 31,
(Dollars in thousands)2024202420242024202320242023
Allowance for credit losses at beginning of period$436,193 $437,560 $427,504 $427,612 $399,531 $427,612 $357,936 
Cumulative effect adjustment from the adoption of ASU 2022-02— — — — — — 741 
Provision for credit losses - Other16,979 6,787 40,061 21,673 42,908 85,500 114,390 
Provision for credit losses - Day 1 on non-PCD assets acquired during the period— 15,547 — — — 15,547 — 
Initial allowance for credit losses recognized on PCD assets acquired during the period— 3,004 — — — 3,004 — 
Other adjustments(187)30 (19)(31)62 (207)47 
Charge-offs:
Commercial5,090 22,975 9,584 11,215 5,114 48,864 15,713 
Commercial real estate1,037 95 15,526 5,469 5,386 22,127 15,228 
Home equity— — — 74 — 74 227 
Residential real estate114 — 23 38 114 175 192 
Premium finance receivables - property & casualty13,301 7,790 9,486 6,938 6,706 37,515 21,684 
Premium finance receivables - life insurance— 4 — — — 4 173 
Consumer and other189 154 137 107 148 587 595 
Total charge-offs19,731 31,018 34,756 23,841 17,468 109,346 53,812 
Recoveries:
Commercial775 649 950 479 592 2,853 2,651 
Commercial real estate172 30 90 31 92 323 460 
Home equity194 101 35 29 34 359 139 
Residential real estate0 5 8 2 10 15 21 
Premium finance receivables - property & casualty2,646 3,436 3,658 1,519 1,820 11,259 4,930 
Premium finance receivables - life insurance— 41 5 8 7 54 16 
Consumer and other19 21 24 23 24 87 93 
Total recoveries3,806 4,283 4,770 2,091 2,579 14,950 8,310 
Net charge-offs(15,925)(26,735)(29,986)(21,750)(14,889)(94,396)(45,502)
Allowance for credit losses at period end$437,060 $436,193 $437,560 $427,504 $427,612 $437,060 $427,612 
Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
Commercial0.11 %0.61 %0.25 %0.33 %0.14 %0.33 %0.10 %
Commercial real estate0.03 0.00 0.53 0.19 0.19 0.18 0.14 
Home equity(0.18)(0.10)(0.04)0.05 (0.04)(0.07)0.03 
Residential real estate0.01 0.00 0.00 0.01 0.02 0.01 0.01 
Premium finance receivables - property & casualty0.59 0.24 0.33 0.32 0.29 0.37 0.27 
Premium finance receivables - life insurance— (0.00)(0.00)(0.00)(0.00)(0.00)0.00 
Consumer and other0.63 0.63 0.56 0.42 0.58 0.57 0.60 
Total loans, net of unearned income0.13 %0.23 %0.28 %0.21 %0.14 %0.21 0.11 %
Loans at period end$48,055,037 $47,067,447 $44,675,531 $43,230,706 $42,131,831 
Allowance for loan losses as a percentage of loans at period end0.76 %0.77 %0.81 %0.81 %0.82 %
Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end0.91 0.93 0.98 0.99 1.01 

26
TABLE 11: ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT

Three Months EndedYears Ended
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,Dec 31,Dec 31,
(In thousands)2024202420242024202320242023
Provision for loan losses - Other$19,852 $6,782 $45,111 $26,159 $44,023 $97,904 $118,776 
Provision for credit losses - Day 1 on non-PCD assets acquired during the period— 15,547 — — — 15,547 — 
Provision for unfunded lending-related commitments losses - Other(2,851)17 (5,212)(4,468)(1,081)(12,514)(4,245)
Provision for held-to-maturity securities losses(22)(12)162 (18)(34)110 (141)
Provision for credit losses$16,979 $22,334 $40,061 $21,673 $42,908 $101,047 $114,390 
Allowance for loan losses$364,017 $360,279 $363,719 $348,612 $344,235 
Allowance for unfunded lending-related commitments losses72,586 75,435 73,350 78,563 83,030 
Allowance for loan losses and unfunded lending-related commitments losses436,603 435,714 437,069 427,175 427,265 
Allowance for held-to-maturity securities losses457 479 491 329 347 
Allowance for credit losses$437,060 $436,193 $437,560 $427,504 $427,612 
    

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 December 31, 2024, September 30, 2024 and June 30, 2024.
 As of Dec 31, 2024As of Sep 30, 2024As of Jun 30, 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$15,574,551 $175,837 1.13 %$15,247,693 $171,598 1.13 %$14,154,462 $181,991 1.29 %
Commercial real estate:
Construction and development2,434,081 87,236 3.58 2,403,690 97,949 4.07 2,260,551 93,154 4.12 
Non-construction10,469,863 135,620 1.30 10,389,727 133,195 1.28 9,686,646 130,574 1.35 
Home equity445,028 8,943 2.01 427,043 8,823 2.07 356,313 7,242 2.03 
Residential real estate3,612,765 10,335 0.29 3,388,038 9,745 0.29 3,067,335 8,773 0.29 
Premium finance receivables
Property and casualty insurance7,272,042 17,111 0.24 7,131,681 13,045 0.18 7,100,753 14,053 0.20 
Life insurance8,147,145 709 0.01 7,996,899 698 0.01 7,962,115 693 0.01 
Consumer and other99,562 812 0.82 82,676 661 0.80 87,356 589 0.67 
Total loans, net of unearned income$48,055,037 $436,603 0.91 %$47,067,447 $435,714 0.93 %$44,675,531 $437,069 0.98 %
Total core loans (1)
$28,804,138 $392,319 1.36 %$28,363,712 $396,394 1.40 %$26,259,487 $398,494 1.52 %
Total niche loans (1)
19,250,899 44,284 0.23 18,703,735 39,320 0.21 18,416,044 38,575 0.21 
(1)See Table 1 for additional detail on core and niche loans.


27
TABLE 13: LOAN PORTFOLIO AGING

(In thousands)Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023
Loan Balances:
Commercial
Nonaccrual$73,490 $63,826 $51,087 $31,740 $38,940 
90+ days and still accruing104 20 304 27 98 
60-89 days past due54,844 32,560 16,485 30,248 19,488 
30-59 days past due92,551 46,057 36,358 77,715 85,743 
Current15,353,562 15,105,230 14,050,228 13,363,751 12,687,784 
Total commercial$15,574,551 $15,247,693 $14,154,462 $13,503,481 $12,832,053 
Commercial real estate
Nonaccrual$21,042 $42,071 $48,289 $39,262 $35,459 
90+ days and still accruing— 225 — — — 
60-89 days past due10,521 13,439 6,555 16,713 8,515 
30-59 days past due30,766 48,346 38,065 32,998 20,634 
Current12,841,615 12,689,336 11,854,288 11,544,464 11,279,556 
Total commercial real estate$12,903,944 $12,793,417 $11,947,197 $11,633,437 $11,344,164 
Home equity
Nonaccrual$1,117 $1,122 $1,100 $838 $1,341 
90+ days and still accruing— — — — — 
60-89 days past due1,233 1,035 275 212 62 
30-59 days past due2,148 2,580 1,229 1,617 2,263 
Current440,530 422,306 353,709 337,682 340,310 
Total home equity$445,028 $427,043 $356,313 $340,349 $343,976 
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies (1)
$156,756 $135,389 $134,178 $143,350 $150,583 
Nonaccrual23,762 17,959 18,198 17,901 15,391 
90+ days and still accruing— — — — — 
60-89 days past due5,708 6,364 1,977 — 2,325 
30-59 days past due18,917 2,160 130 24,523 22,942 
Current3,407,622 3,226,166 2,912,852 2,704,492 2,578,425 
Total residential real estate$3,612,765 $3,388,038 $3,067,335 $2,890,266 $2,769,666 
Premium finance receivables - property & casualty
Nonaccrual$28,797 $36,079 $32,722 $32,648 $27,590 
90+ days and still accruing16,031 18,235 22,427 25,877 20,135 
60-89 days past due19,042 18,740 29,925 15,274 23,236 
30-59 days past due68,219 30,204 45,927 59,729 50,437 
Current7,139,953 7,028,423 6,969,752 6,806,491 6,782,131 
Total Premium finance receivables - property & casualty$7,272,042 $7,131,681 $7,100,753 $6,940,019 $6,903,529 
Premium finance receivables - life insurance
Nonaccrual$6,431 $— $— $— $— 
90+ days and still accruing— — — — — 
60-89 days past due72,963 10,902 4,118 32,482 16,206 
30-59 days past due36,405 74,432 17,693 100,137 45,464 
Current8,031,346 7,911,565 7,940,304 7,739,414 7,816,273 
Total Premium finance receivables - life insurance$8,147,145 $7,996,899 $7,962,115 $7,872,033 $7,877,943 
Consumer and other
Nonaccrual$2 $2 $3 $19 $22 
90+ days and still accruing47 148 121 47 54 
60-89 days past due59 22 81 16 25 
30-59 days past due882 264 366 210 165 
Current98,572 82,240 86,785 50,829 60,234 
Total consumer and other$99,562 $82,676 $87,356 $51,121 $60,500 
Total loans, net of unearned income
Early buy-out loans guaranteed by U.S. government agencies (1)
$156,756 $135,389 $134,178 $143,350 $150,583 
Nonaccrual154,641 161,059 151,399 122,408 118,743 
90+ days and still accruing16,182 18,628 22,852 25,951 20,287 
60-89 days past due164,370 83,062 59,416 94,945 69,857 
30-59 days past due249,888 204,043 139,768 296,929 227,648 
Current47,313,200 46,465,266 44,167,918 42,547,123 41,544,713 
Total loans, net of unearned income$48,055,037 $47,067,447 $44,675,531 $43,230,706 $42,131,831 
(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.
28
TABLE 14: NON-PERFORMING ASSETS(1)
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(Dollars in thousands)20242024202420242023
Loans past due greater than 90 days and still accruing:
Commercial$104 $20 $304 $27 $98 
Commercial real estate— 225 — — — 
Home equity— — — — — 
Residential real estate— — — — — 
Premium finance receivables - property & casualty16,031 18,235 22,427 25,877 20,135 
Premium finance receivables - life insurance— — — — — 
Consumer and other47 148 121 47 54 
Total loans past due greater than 90 days and still accruing16,182 18,628 22,852 25,951 20,287 
Non-accrual loans:
Commercial73,490 63,826 51,087 31,740 38,940 
Commercial real estate21,042 42,071 48,289 39,262 35,459 
Home equity1,117 1,122 1,100 838 1,341 
Residential real estate23,762 17,959 18,198 17,901 15,391 
Premium finance receivables - property & casualty28,797 36,079 32,722 32,648 27,590 
Premium finance receivables - life insurance6,431 — — — — 
Consumer and other2 2 3 19 22 
Total non-accrual loans154,641 161,059 151,399 122,408 118,743 
Total non-performing loans:
Commercial73,594 63,846 51,391 31,767 39,038 
Commercial real estate21,042 42,296 48,289 39,262 35,459 
Home equity1,117 1,122 1,100 838 1,341 
Residential real estate23,762 17,959 18,198 17,901 15,391 
Premium finance receivables - property & casualty44,828 54,314 55,149 58,525 47,725 
Premium finance receivables - life insurance6,431 — — — — 
Consumer and other49 150 124 66 76 
Total non-performing loans$170,823 $179,687 $174,251 $148,359 $139,030 
Other real estate owned23,116 13,682 19,731 14,538 13,309 
Total non-performing assets$193,939 $193,369 $193,982 $162,897 $152,339 
Total non-performing loans by category as a percent of its own respective category’s period-end balance:
Commercial0.47 %0.42 %0.36 %0.24 %0.30 %
Commercial real estate0.16 0.33 0.40 0.34 0.31 
Home equity0.25 0.26 0.31 0.25 0.39 
Residential real estate0.66 0.53 0.59 0.62 0.56 
Premium finance receivables - property & casualty0.62 0.76 0.78 0.84 0.69 
Premium finance receivables - life insurance0.08 — — — — 
Consumer and other0.05 0.18 0.14 0.13 0.13 
Total loans, net of unearned income0.36 %0.38 %0.39 %0.34 %0.33 %
Total non-performing assets as a percentage of total assets0.30 %0.30 %0.32 %0.28 %0.27 %
Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans282.33 %270.53 %288.69 %348.98 %359.82 %
(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.


29
Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies
 Three Months EndedYears Ended
 Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,Dec 31,Dec 31,
(In thousands)2024202420242024202320242023
Balance at beginning of period$179,687 $174,251 $148,359 $139,030 $133,101 $139,030 $100,697 
Additions from becoming non-performing in the respective period30,931 42,335 54,376 23,142 59,010 150,784 123,377 
Additions from assets acquired in the respective period— 189 — — — 189 — 
Return to performing status(1,108)(362)(912)(490)(24,469)(2,872)(27,011)
Payments received(12,219)(10,894)(9,611)(8,336)(10,000)(41,060)(34,063)
Transfer to OREO and other repossessed assets(17,897)(3,680)(6,945)(1,381)(2,623)(29,903)(8,252)
Charge-offs, net(5,612)(21,211)(7,673)(14,810)(9,480)(49,306)(16,346)
Net change for premium finance receivables(2,959)(941)(3,343)11,204 (6,509)3,961 628 
Balance at end of period$170,823 $179,687 $174,251 $148,359 $139,030 $170,823 $139,030 


Other Real Estate Owned
 Three Months Ended
 Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(In thousands)20242024202420242023
Balance at beginning of period$13,682 $19,731 $14,538 $13,309 $14,060 
Disposals/resolved(8,545)(9,729)(1,752)— (3,416)
Transfers in at fair value, less costs to sell17,979 3,680 6,945 1,436 2,665 
Fair value adjustments— — — (207)— 
Balance at end of period$23,116 $13,682 $19,731 $14,538 $13,309 
 Period End
 Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
Balance by Property Type:20242024202420242023
Residential real estate$— $— $161 $1,146 $720 
Commercial real estate23,116 13,682 19,570 13,392 12,589 
Total$23,116 $13,682 $19,731 $14,538 $13,309 
30
TABLE 15: NON-INTEREST INCOME
Three Months Ended
Q4 2024 compared to
Q3 2024
Q4 2024 compared to
Q4 2023
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(Dollars in thousands)20242024202420242023$ Change% Change$ Change% Change
Brokerage$5,328 $6,139 $5,588 $5,556 $5,349 $(811)(13)%$(21)— %
Trust and asset management33,447 31,085 29,825 29,259 27,926 2,362 8 5,521 20 
Total wealth management38,775 37,224 35,413 34,815 33,275 1,551 4 5,500 17 
Mortgage banking20,452 15,974 29,124 27,663 7,433 4,478 28 13,019 175 
Service charges on deposit accounts18,864 16,430 15,546 14,811 14,522 2,434 15 4,342 30 
(Losses) gains on investment securities, net(2,835)3,189 (4,282)1,326 2,484 (6,024)NM(5,319)NM
Fees from covered call options2,305 988 2,056 4,847 4,679 1,317 NM(2,374)(51)
Trading (losses) gains, net(113)(130)70 677 (505)17 (13)392 (78)
Operating lease income, net15,327 15,335 13,938 14,110 14,162 (8)(0)1,165 8 
Other:
Interest rate swap fees3,360 2,914 3,392 2,828 4,021 446 15 (661)(16)
BOLI1,236 1,517 1,351 1,651 1,747 (281)(19)(511)(29)
Administrative services1,347 1,450 1,322 1,217 1,329 (103)(7)18 1 
Foreign currency remeasurement (losses) gains(682)696 (145)(1,171)1,150 (1,378)NM(1,832)NM
Changes in fair value on EBOs and loans held-for-investment129 518 604 (439)1,556 (389)(75)(1,427)(92)
Early pay-offs of capital leases514 532 393 430 157 (18)(3)357 NM
Miscellaneous14,772 16,510 22,365 37,815 14,819 (1,738)(11)(47)(0)
Total Other20,676 24,137 29,282 42,331 24,779 (3,461)(14)(4,103)(17)
Total Non-Interest Income$113,451 $113,147 $121,147 $140,580 $100,829 $304 0 %$12,622 13 %

Years Ended
Dec 31,Dec 31,$%
(Dollars in thousands)20242023ChangeChange
Brokerage$22,611 $18,645 $3,966 21 %
Trust and asset management123,616 111,962 11,654 10 
Total wealth management146,227 130,607 15,620 12 
Mortgage banking93,213 83,073 10,140 12 
Service charges on deposit accounts65,651 55,250 10,401 19 
(Losses) gains on investment securities, net(2,602)1,525 (4,127)NM
Fees from covered call options10,196 21,863 (11,667)(53)
Trading gains, net504 1,142 (638)(56)
Operating lease income, net58,710 53,298 5,412 10 
Other:
Interest rate swap fees12,494 12,251 243 2 
BOLI5,755 5,149 606 12 
Administrative services5,336 5,599 (263)(5)
Foreign currency remeasurement (losses) gains(1,302)1,059 (2,361)NM
Changes in fair value on EBOs and loans held-for-investment812 1,521 (709)(47)
Early pay-offs of capital leases1,869 1,184 685 58 
Miscellaneous91,462 60,585 30,877 51 
Total Other116,426 87,348 29,078 33 
Total Non-Interest Income$488,325 $434,106 $54,219 12 %
NM - Not meaningful.
BOLI - Bank-owned life insurance.
31
TABLE 16: MORTGAGE BANKING
Three Months Ended
(Dollars in thousands)Dec 31,
2024		Sep 30,
2024		Jun 30,
2024		Mar 31,
2024		Dec 31,
2023
Originations:
Retail originations$483,424 $527,408 $544,394 $331,504 $315,637 
Veterans First originations176,914 239,369 177,792 144,109 123,564 
Total originations for sale (A)$660,338 $766,777 $722,186 $475,613 $439,201 
Originations for investment355,119 218,984 275,331 169,246 124,974 
Total originations$1,015,457 $985,761 $997,517 $644,859 $564,175 
As a percentage of originations for sale:
Retail originations73 %69 %75 %70 %72 %
Veterans First originations27 31 25 30 28 
Purchases65 %72 %83 %75 %85 %
Refinances35 28 17 25 15 
Production Margin:
Production revenue (B) (1)
$6,993 $13,113 $14,990 $13,435 $6,798 
Total originations for sale (A)$660,338 $766,777 $722,186 $475,613 $439,201 
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)
103,946 272,072 222,738 207,775 119,624 
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)
272,072 222,738 207,775 119,624 150,713 
Total mortgage production volume (C)$492,212 $816,111 $737,149 $563,764 $408,112 
Production margin (B / C)1.42 %1.61 %2.03 %2.38 %1.67 %
Mortgage Servicing:
Loans serviced for others (D)$12,400,913$12,253,361$12,211,027$12,051,392$12,007,165
MSRs, at fair value (E)203,788186,308204,610201,044192,456
Percentage of MSRs to loans serviced for others (E / D)1.64 %1.52 %1.68 %1.67 %1.60 %
Servicing income$10,731 $10,809 $10,586 $10,498 $10,286 
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period$186,308 $204,610 $201,044 $192,456 $210,524 
MSR - current period rights sold— — — — — 
MSR - current period capitalization10,010 6,357 8,223 5,379 5,077 
MSR - collection of expected cash flows - paydowns(1,463)(1,598)(1,504)(1,444)(1,572)
MSR - collection of expected cash flows - payoffs and repurchases(4,315)(5,730)(4,030)(2,942)(1,939)
MSR - changes in fair value model assumptions13,248 (17,331)877 7,595 (19,634)
MSR Fair Value at end of period$203,788 $186,308 $204,610 $201,044 $192,456 
Summary of Mortgage Banking Revenue
Operational:
Production revenue (1)
$6,993 $13,113 $14,990 $13,435 $6,798 
MSR - Current period capitalization10,010 6,357 8,223 5,379 5,077 
MSR - Collection of expected cash flows - paydowns(1,463)(1,598)(1,504)(1,444)(1,572)
MSR - Collection of expected cash flows - pay offs(4,315)(5,730)(4,030)(2,942)(1,939)
Servicing Income10,731 10,809 10,586 10,498 10,286 
Other Revenue(51)(67)112 (91)20 
Total operational mortgage banking revenue$21,905 $22,884 $28,377 $24,835 $18,670 
Fair Value:
MSR - changes in fair value model assumptions$13,248 $(17,331)$877 $7,595 $(19,634)
Gain (loss) on derivative contract held as an economic hedge, net(11,452)6,892 (772)(2,577)3,541 
Changes in FV on early buy-out loans guaranteed by US Govt (HFS)(3,249)3,529 642 (2,190)4,856 
     Total fair value mortgage banking revenue$(1,453)$(6,910)$747 $2,828 $(11,237)
Total mortgage banking revenue$20,452 $15,974 $29,124 $27,663 $7,433 
(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.

32
Years Ended
(Dollars in thousands)Dec 31,
2024		Dec 31,
2023
Originations:
Retail originations$1,886,730 $1,387,423 
Veterans First originations738,184 574,782 
Total originations for sale (A)$2,624,914 $1,962,205 
Originations for investment1,018,680 578,571 
Total originations$3,643,594 $2,540,776 
As a percentage of originations for sale:
Retail originations72 %71 %
Veterans First originations28 29 
Purchases75 %83 %
Refinances25 17 
Production Margin:
Production revenue (B) (1)
$48,531 $41,031 
Total originations for sale (A)$2,624,914 $1,962,205 
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)
103,946 119,624 
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)
119,624 113,303 
Total mortgage production volume (C)$2,609,236 $1,968,526 
Production margin (B / C)1.86 %2.08 %
Mortgage Servicing:
Loans serviced for others (D)$12,400,913$12,007,165
MSRs, at fair value (E)203,788192,456
Percentage of MSRs to loans serviced for others (E / D)1.64 %1.60 %
Servicing income$42,624 $43,563 
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period$192,456 $230,225 
MSR - current period rights sold— (30,170)
MSR - current period capitalization29,969 28,610 
MSR - collection of expected cash flows - paydowns(6,009)(6,284)
MSR - collection of expected cash flows - payoffs and repurchases(17,017)(10,776)
MSR - changes in fair value model assumptions4,389 (19,149)
MSR Fair Value at end of period$203,788 $192,456 
Summary of Mortgage Banking Revenue:
Operational
Production revenue (1)
$48,531 $41,031 
MSR - Current period capitalization29,969 28,610 
MSR - Collection of expected cash flows - paydowns(6,009)(6,284)
MSR - Collection of expected cash flows - pay offs(17,017)(10,776)
Servicing Income42,624 43,563 
Other Revenue(97)384 
Total operational mortgage banking revenue$98,001 $96,528 
Fair Value:
MSR - changes in fair value model assumptions$4,389 $(19,149)
Gain (loss) on derivative contract held as an economic hedge, net(7,909)1,280 
Changes in FV on early buy-out loans guaranteed by US Govt (HFS)(1,268)4,414 
     Total fair value mortgage banking revenue$(4,788)$(13,455)
Total mortgage banking revenue$93,213 $83,073 
(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.

33
TABLE 17: NON-INTEREST EXPENSE
Three Months Ended
Q4 2024 compared to
Q3 2024
Q4 2024 compared to
Q4 2023
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,
(Dollars in thousands)20242024202420242023$ Change% Change$ Change% Change
Salaries and employee benefits:
Salaries$120,969 $118,971 $113,860 $112,172 $111,484 $1,998 2 %$9,485 9 %
Commissions and incentive compensation54,792 57,575 52,151 51,001 48,974 (2,783)(5)5,818 12 
Benefits36,372 34,715 32,530 32,000 33,513 1,657 5 2,859 9 
Total salaries and employee benefits212,133 211,261 198,541 195,173 193,971 872 0 18,162 9 
Software and equipment34,258 31,574 29,231 27,731 27,779 2,684 9 6,479 23 
Operating lease equipment10,263 10,518 10,834 10,683 10,694 (255)(2)(431)(4)
Occupancy, net20,597 19,945 19,585 19,086 18,102 652 3 2,495 14 
Data processing10,957 9,984 9,503 9,292 8,892 973 10 2,065 23 
Advertising and marketing13,097 18,239 17,436 13,040 17,166 (5,142)(28)(4,069)(24)
Professional fees11,334 9,783 9,967 9,553 8,768 1,551 16 2,566 29 
Amortization of other acquisition-related intangible assets5,773 4,042 1,122 1,158 1,356 1,731 43 4,417 NM
FDIC insurance10,640 10,512 10,429 9,381 9,303 128 1 1,337 14 
FDIC insurance - special assessment— — — 5,156 34,374 — — (34,374)NM
OREO expense, net397 (938)(259)392 (1,559)1,335 NM1,956 NM
Other:
Lending expenses, net of deferred origination costs6,448 4,995 5,335 5,078 5,330 1,453 29 1,118 21 
Travel and entertainment8,140 5,364 5,340 4,597 5,754 2,776 52 2,386 41 
Miscellaneous24,502 25,408 23,289 22,825 22,722 (906)(4)1,780 8 
Total other39,090 35,767 33,964 32,500 33,806 3,323 9 5,284 16 
Total Non-Interest Expense$368,539 $360,687 $340,353 $333,145 $362,652 $7,852 2 %$5,887 2 %

Years Ended
Dec 31,Dec 31,$%
(Dollars in thousands)20242023ChangeChange
Salaries and employee benefits:
Salaries$465,972 $438,812 $27,160 6 %
Commissions and incentive compensation215,519 182,101 33,418 18 
Benefits135,617 127,100 8,517 7 
Total salaries and employee benefits817,108 748,013 69,095 9 
Software and equipment122,794 104,632 18,162 17 
Operating lease equipment42,298 42,363 (65)0 
Occupancy, net79,213 77,068 2,145 3 
Data processing39,736 38,800 936 2 
Advertising and marketing61,812 65,075 (3,263)(5)
Professional fees40,637 34,758 5,879 17 
Amortization of other acquisition-related intangible assets12,095 5,498 6,597 NM
FDIC insurance40,962 36,728 4,234 12 
FDIC insurance - special assessment5,156 34,374 (29,218)(85)
OREO expense, net(408)(1,528)1,120 (73)
Other:
Lending expenses, net of deferred origination costs21,856 21,096 760 4 
Travel and entertainment23,441 21,194 2,247 11 
Miscellaneous96,024 84,428 11,596 14 
Total other141,321 126,718 14,603 12 
Total Non-Interest Expense$1,402,724 $1,312,499 $90,225 7 %
NM - Not meaningful.
34
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 EndedYears Ended
 Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,Dec 31,Dec 31,
(Dollars and shares in thousands)2024202420242024202320242023
Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
(A) Interest Income (GAAP)$913,501 $908,604 $849,979 $805,513 $793,848 $3,477,597 $2,893,114 
Taxable-equivalent adjustment:
 - Loans
2,352 2,474 2,305 2,246 2,150 9,377 7,827 
 - Liquidity Management Assets716 668 567 550 575 2,501 2,249 
 - Other Earning Assets2 2 3 5 4 12 10 
(B) Interest Income (non-GAAP)$916,571 $911,748 $852,854 $808,314 $796,577 $3,489,487 $2,903,200 
(C) Interest Expense (GAAP)388,353 406,021 379,369 341,319 323,874 1,515,062 1,055,250 
(D) Net Interest Income (GAAP) (A minus C)$525,148 $502,583 $470,610 $464,194 $469,974 $1,962,535 $1,837,864 
(E) Net Interest Income (non-GAAP) (B minus C)$528,218 $505,727 $473,485 $466,995 $472,703 $1,974,425 $1,847,950 
Net interest margin (GAAP)3.49 %3.49 %3.50 %3.57 %3.62 %3.51 %3.66 %
Net interest margin, fully taxable-equivalent (non-GAAP)3.51 3.51 3.52 3.59 3.64 3.53 3.68 
(F) Non-interest income$113,451 $113,147 $121,147 $140,580 $100,829 $488,325 $434,106 
(G) (Losses) gains on investment securities, net(2,835)3,189 (4,282)1,326 2,484 (2,602)1,525 
(H) Non-interest expense368,539 360,687 340,353 333,145 362,652 1,402,724 1,312,499 
Efficiency ratio (H/(D+F-G))57.46 %58.88 %57.10 %55.21 %63.81 %57.17 %57.81 %
Efficiency ratio (non-GAAP) (H/(E+F-G))57.18 58.58 56.83 54.95 63.51 56.90 57.55 
35
Three Months EndedYear Ended
Dec 31,Sep 30,Jun 30,Mar 31,Dec 31,Dec 31,Dec 31,
(Dollars and shares in thousands)2024202420242024202320242023
Reconciliation of Non-GAAP Tangible Common Equity Ratio:
Total shareholders’ equity (GAAP)$6,344,297$6,399,714$5,536,628$5,436,400$5,399,526
Less: Non-convertible preferred stock (GAAP)(412,500)(412,500)(412,500)(412,500)(412,500)
Less: Intangible assets (GAAP)(918,632)(924,646)(676,562)(677,911)(679,561)
(I) Total tangible common shareholders’ equity (non-GAAP)$5,013,165$5,062,568$4,447,566$4,345,989$4,307,465
(J) Total assets (GAAP)$64,879,668$63,788,424$59,781,516$57,576,933$56,259,934
Less: Intangible assets (GAAP)(918,632)(924,646)(676,562)(677,911)(679,561)
(K) Total tangible assets (non-GAAP)$63,961,036$62,863,778$59,104,954$56,899,022$55,580,373
Common equity to assets ratio (GAAP) (L/J)9.1 %9.4 %8.6 %8.7 %8.9 %
Tangible common equity ratio (non-GAAP) (I/K)7.8 8.1 7.5 7.6 7.7 
Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity$6,344,297 $6,399,714 $5,536,628 $5,436,400 $5,399,526 
Less: Preferred stock(412,500)(412,500)(412,500)(412,500)(412,500)
(L) Total common equity$5,931,797 $5,987,214 $5,124,128 $5,023,900 $4,987,026 
(M) Actual common shares outstanding66,495 66,482 61,760 61,737 61,244 
Book value per common share (L/M)$89.21 $90.06 $82.97 $81.38 $81.43 
Tangible book value per common share (non-GAAP) (I/M)75.39 76.15 72.01 70.40 70.33 
Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
(N) Net income applicable to common shares$178,371 $163,010 $145,397 $180,303 $116,489 $667,081 $594,662 
Add: Intangible asset amortization 5,773 4,042 1,122 1,158 1,356 12,095 5,498 
Less: Tax effect of intangible asset amortization(1,547)(1,087)(311)(291)(343)(3,217)(1,446)
After-tax intangible asset amortization $4,226 $2,955 $811 $867 $1,013 $8,878 $4,052 
(O) Tangible net income applicable to common shares (non-GAAP)$182,597 $165,965 $146,208 $181,170 $117,502 $675,959 $598,714 
Total average shareholders’ equity$6,418,403 $5,990,429 $5,450,173 $5,440,457 $5,066,196 $5,826,940 $5,023,153 
Less: Average preferred stock(412,500)(412,500)(412,500)(412,500)(412,500)(412,500)(412,500)
(P) Total average common shareholders’ equity$6,005,903 $5,577,929 $5,037,673 $5,027,957 $4,653,696 $5,414,440 $4,610,653 
Less: Average intangible assets(921,438)(833,574)(677,207)(678,731)(679,812)(778,283)(679,802)
(Q) Total average tangible common shareholders’ equity (non-GAAP)$5,084,465 $4,744,355 $4,360,466 $4,349,226 $3,973,884 $4,636,157 $3,930,851 
Return on average common equity, annualized (N/P)11.82 %11.63 %11.61 %14.42 %9.93 %12.32 %12.90 %
Return on average tangible common equity, annualized (non-GAAP) (O/Q)14.29 13.92 13.49 16.75 11.73 14.58 15.23 
Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:
Income before taxes$253,081 $232,709 $211,343 $249,956 $165,243 $947,089 $845,081 
Add: Provision for credit losses16,979 22,334 40,061 21,673 42,908 101,047 114,390 
Pre-tax income, excluding provision for credit losses (non-GAAP)$270,060 $255,043 $251,404 $271,629 $208,151 $1,048,136 $959,471 
36
Dec 31,Dec 31,Dec 31,Dec 31,Dec 31,Dec 31,Dec 31,Dec 31,Dec 31,
202220212020201920182017201620152014
Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity$4,796,838 $4,498,688 $4,115,995 $3,691,250 $3,267,570 $2,976,939 $2,695,617 $2,352,274 $2,069,822 
Less: Non-convertible preferred stock (GAAP)(412,500)(412,500)(412,500)(125,000)(125,000)(125,000)(251,257)(251,287)(126,467)
(R) Less: Intangible assets (GAAP)(675,710)(683,456)(681,747)(692,277)(622,565)(519,505)(520,438)(495,970)(424,445)
(I) Total tangible common shareholders’ equity (non-GAAP)$3,708,628 $3,402,732 $3,021,748 $2,873,973 $2,520,005 $2,332,434 $1,923,922 $1,605,017 $1,518,910 
(M) Common shares used for book value calculation60,794 57,054 56,770 57,822 56,408 55,965 51,881 48,383 46,805 
Book value per common share ((I-R)/M)$72.12 $71.62 $65.24 $61.68 $55.71 $50.96 $47.11 $43.42 $41.52 
Tangible book value per common share (non-GAAP) (I/M)61.00 59.64 53.23 49.70 44.67 41.68 37.08 33.17 32.45 
37
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, N.A., 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, Machesney Park, 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, Wheeling, Willowbrook, Wilmette, Winnetka and Wood Dale, and in Wisconsin in Burlington, Clinton, Delafield, Delavan, Elm Grove, Genoa City, Kenosha, Lake Geneva, Madison, Menomonee Falls, Mequon, 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 Spring, Cape Coral, 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
38
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 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;
39
•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; 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 Wednesday, January 22, 2025 at 9:00 a.m. (CST) regarding fourth quarter and full year 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 January 2, 2025 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 fourth quarter and full year 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.

40
Earnings Release Presentation Q4 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 Full Year 2024 Highlights (Comparative to Full Year 2023) Total DepositsTotal Assets Total Loans Net Income $64.9 billion +$8.6 billion or 15% $48.1 billion +$5.9 billion or 14% $52.5 billion +$7.1 billion or 16% $695.0 million +$72 million or 12% Update Format second box BV / TBV Net Interest Income Net Interest Margin $2.0 billion +$125 million or 7% (non-GAAP) $75.39 +$5.06 $1.0 billion +$89 million or 9% Diluted EPS $10.31 +$0.73 or 8% Current EPS Prior EPS $ 2.63 2.47 $ 0.16 PPNI Prior PPNI $ 270.1 255.0 $15.02 15100000 270,060 255,043 3 Bps: Basis Points 4 See Non-GAAP reconciliation in the Appendix 5 NPLs: Non-Performing Loans Metric FY 23 FY 22 Difference % Change Net Income $ 695,045 $ 622,626 $ 72,419 12 % Pre-Tax, Pre- Provision 1,048,136 959,471 $ 88,665 9 % Diluted EPS $ 10.31 $ 9.58 $ 0.73 8 % Net Interest Income 1,962,535 1,837,864 $ 124,671 7 % NIM 3.51 % 3.66 % (0.1500) % 58 TBV 75.39 70.33 $ 5.06 7 % Total Assets 64,879,668 56,259,934 $ 8,619,734 15 % Total Loans 48,055,037 42,131,831 $ 5,923,206 14 % Total Deposits 52,512,349 45,397,170 $ 7,115,179 16 % 2024 Full Year Takeaways • Record full year net income of $695.0 million or $10.31 per diluted common share was $72 million or 12% higher than our record annual net income in 2023 • Record full year net interest income of $2.0 billion was driven by strong earning asset growth. The Company's relative interest rate neutrality should allow the net interest margin to remain relatively stable in 2025 • Wintrust's tangible book value per common share (non-GAAP) increased in 2024 to $75.39 as of December 31, 2024. Tangible book value per common share (non-GAAP) has increased every year since Wintrust became a public company in 1996 • The Company's capital expansion was driven by record full year earnings in 2024 and capital ratios remain well above the regulatory thresholds • Wintrust exhibited robust organic loan and deposit growth in 2024. The strategic acquisition of Macatawa Bank Corporation (“Macatawa”) augmented Wintrust's strong growth in 2024 and expanded the Company's geographic footprint into the west Michigan markets 1 Pre-tax income, excluding provision for credit losses (non-GAAP) – See non-GAAP reconciliation in the Appendix (GAAP) $89.21 +$7.78 (non-GAAP) 3.53% -15 bps (GAAP) 3.51% -15 bps NIM FY GAAP NIM PY GAAP Change 3.51% 3.66% -15.00 NIM FY Non- GAAP NIM PY Non- GAAP Change 3.53% 3.68% -15.00 BV FY BV PY Change $ 89.21 $ 81.43 $ 7.77999999999999 TBV TBV PY Change 75.39 70.33 5.06

 
55 • Recorded net income of $185.4 million for the fourth quarter of 2024 • Q4 2024 net interest margin (non-GAAP) of 3.51% was unchanged from the prior quarter. We expect to maintain a relatively stable net interest margin in 2025 given the current market consensus outlook Q4 2024 Highlights (Comparative to Q3 2024) • Total loans increased by approximately $1.0 billion, or 8% annualized, and was attributed to growth in all major loan portfolios • Total deposits increased by approximately $1.1 billion, or 9% annualized, and was driven by our diversified product offerings Pre-Tax, Pre-Provision1 Diversified Balance Sheet Total DepositsTotal Assets Total Loans Net Income $64.9 billion +$1.1 billion $48.1 billion +$1.0 billion $52.5 billion +$1.1 billion $185.4 million +$15.4 million Strong Credit Quality • Non-performing loans totaled $170.8 million and comprised 0.36% of total loans at December 31, 2024, as compared to $179.7 million and 0.38% of total loans at September 30, 2024 • Allowance for credit losses on total core loans was 1.36% at December 31, 2024 • Net charge-offs decreased to 13 basis points in the fourth quarter of 2024 compared to 23 basis points in the third quarter of 2024 Efficiency RatioReturn on Assets ROE / ROTCE 1.16% +5 bps (GAAP) 57.46% -142 bps $270.1 million +$15.0 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 $2.63 +$0.16 Current EPS Prior EPS $ 2.63 2.47 $ 0.16 PPNI Prior PPNI $ 270.1 255.0 $15.02 15100000 270,060 255,043 Stable Margin Supports Earnings Net Overhead Ratio 1.60% -2 bps (non-GAAP) 57.18% -140 bps Efficiency GAAP Prior Q 57.46% 58.59% $ (113.00) 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 57.46 % 58.88 % 57.18 % 58.58 % % Change File does not have calc for GAAP numbers (140) Check -142.00 -140.00 (GAAP) 11.82% +19 bps (non-GAAP) 14.29% +37 bps Current ROE Prior ROE Current ROTCE Prior ROTCE 11.82 % 11.63 % 14.29 % 13.92 % 19 37.0000000000001 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 Full Year 2024 $123.5 $187.3 $152.4 $170.0 $185.4 0.89% 1.35% 1.07% 1.11% 1.16% Net Income ROA Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 $1.87 $2.89 $2.32 $2.47 $2.63 Diluted EPS Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 $208.2 $271.6 $251.4 $255.0 $270.1 Pre-Tax Income, excluding Provision for Credit Losses (non-GAAP) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 ($ in Millions) ($ in Millions) 1 See non-GAAP reconciliation in Appendix Q4 2024 Highlights Earnings Summary Differentiated, highly diversified and sustainable business model Manual Input - Highlights May Change QoQ • Q4 2024 pre-tax income, excluding provision for credit losses totaled $270.1 million as compared to $255.0 million in the third quarter of 2024 • Record quarterly net interest income of $525.1 million supported by strong loan and deposit growth and a relatively stable net interest margin

 
77 32% 27% 15% 17% 8% 1% Commercial Commercial Real Estate PFR - Property and Casualty Insurance PFR - Life Insurance Residential Real Estate All Other Loans $47,067 $327 $111 $225 $325 $48,055 9/30/2024 Commercial Commercial Real Estate Residential Real Estate All Other Loans 12/31/2024 $42.1 $47.1 $48.1 6.69% 6.90% 6.68% Total Loans Average Total Loan Yield 12/31/2023 9/30/2024 12/31/2024 Year-over-Year Change $5.6B or 14% in Total Loans Loan Portfolio Diversified loan portfolio Loan Growth Across All Major Portfolios in the Fourth Quarter of 2024 ($ in Millions) Diversified Loan Mix (as of 12/31/2024) Consistent Loan Growth Supported by Strong Loan Pipelines to Continue Momentum in 2025 ($ in Billions) • Strong loan growth during the fourth quarter totaled $1.0 billion, or 8% on an annualized basis • Year-over-year loan growth of $5.9 billion or 14% driven by organic growth and Macatawa acquisition Highlights

 
88 • Robust fourth quarter deposit growth totaling $1.1 billion or 9% annualized • Year-over-year deposit growth of $7.1 billion, or 16%, was supported by strong organic growth coupled with the Macatawa acquisition • Non-Interest bearing deposits have remained stable in recent quarters and actually increased to 22% of total deposits as year end customer activity drove higher balances as of December 31, 2024 $51,405 $671 $261 $(579) $754 $52,512 9/30/2024 Non-Interest-Bearing Money Market CDs Other Interest- Bearing 12/31/2024 $45.4 $51.4 $52.5 3.32% 3.72% 3.39% Total Deposits Rate Paid on Average Total Interest-Bearing Deposits 12/31/2023 9/30/2024 12/31/2024 1 1Includes: NOW, Interest-bearing Demand Deposits, Savings and deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), trust and asset management customers of the Company Deposit Portfolio Enviable core deposit franchise in Chicago, Milwaukee and Grand Rapids market areas Strong Quarterly Growth Across Majority of Diverse Product Offerings ($ in Millions) Deposit Growth Supported by Strong Core Franchise ($ in Billions) Highlights 1 Manual Input - Highlights May Change QoQ

 
99 9.4% 9.5% 9.5% 9.8% 9.9% 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 Manual Input- Investment Duration comes from Scott Capital/Liquidity Current capital levels are well in excess of regulatory thresholds $4.1 $3.6 $0.3 Available-for-Sale Held-to-Maturity Other 12.2% 0.3% (0.3)% 12.2% 9/30/2024 Retained Earnings and Other Equity Changes Change in RWA 12/31/2024 1 Ratios for Q4 2024 are estimated 9.4% 9.8% 9.9% 10.3% 10.6% 10.6% 12.1% 12.2% 12.2% 9.3% 9.6% 9.4% CET1 Ratio Tier 1 Capital Ratio Total Capital Ratio Tier 1 Leverage Ratio 12/31/2023 9/30/2024 12/31/2024 CET1 Ratio 1 Steady CET1 Growth in 2024 Expected to Continue in 2025 Capital Levels Remained Stable Supporting Strong Growth Strategically Balanced Investment Portfolio (as of 12/31/2024) ($ 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 December 31, 2024 Q4 2024 Highlights 1 Total Investment Portfolio Yield (Q4 '24): 3.33% Duration: 6.3 Years $8.0 Manual Input - Highlights May Change QoQ Manual Input - CET1 calculation comes from Mark Expect Q4 2025 CET1 +10.0% 9.4% 9.5% 9.5% 9.8% 9.7% 10.0% 0.3% Wintrust Macatawa Impact Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2024 Q4 2025 Pending

 
1010 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 $75.39 as of December 31, 2024 $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 $75.39 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 20 24 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

 
1111 Total Shareholder Return Wintrust's commitment to growing shareholder value is exemplified by outperforming the KBW Nasdaq 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% 136.35% 113.20% WTFC KRXTR 12 /31 /23 12 /31 /24 80.00% 100.00% 120.00% 140.00% 160.00% Total Shareholder Return of WTFC Compared to KRXTR (3-Year) 100.00% 94.53% 105.29% 142.40% 93.07% 92.70% 104.93% WTFC KRXTR 12 /31 /21 12 /31 /22 12 /31 /23 12 /31 /24 75.00% 100.00% 125.00% 150.00% Total Shareholder Return of WTFC Compared to KRXTR (5-Year) 100.00% 87.70% 131.34% 124.33% 138.11% 185.66% 91.29% 124.74% 116.10% 115.63% 130.90% WTFC KRXTR 12 /31 /19 12 /31 /20 12 /31 /21 12 /31 /22 12 /31 /20 23 12 /31 /24 75.00% 100.00% 125.00% 150.00% 175.00% 200.00% Total Shareholder Return of WTFC Compared to KRXTR (10-Year) 100.00% 104.68% 157.12% 179.23% 146.79% 158.23% 139.59% 205.75% 195.12% 216.02% 288.11% 105.92% 147.23% 149.82% 123.60% 153.04% 139.71% 190.90% 177.67% 176.96% 200.32% WTFC KRXTR 12 /31 /14 12 /31 /15 12 /31 /16 12 /31 /17 12 /31 /18 12 /31 /19 12 /31 /20 12 /31 /21 12 /31 /22 12 /31 /23 12 /31 /24 100.00% 150.00% 200.00% 250.00% 300.00% Manual Input - S&P File *Data Source: S&P Capital IQ

 
1212 • We believe we are well-positioned for strong financial performance as we continue our momentum into 2025 • Relatively neutral balance sheet sensitivity to further interest rate changes should allow our net interest margin to remain in the 3.50% range as we move forward into 2025 • Expect the combination of a stable net interest margin and balance sheet growth to result in continued net interest income growth in 2025 • 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 $6.7 $6.7 $6.7 $5.5 $6.2 $3.7 $3.7 $3.7 $3.7 $4.5 $3.0 $3.0 $3.0 $1.8 $1.7 Received Fixed Swaps Costless Collars 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $470.0 $464.2 $470.6 $502.6 $525.1 3.64% 3.59% 3.52% 3.51% 3.51% Net Interest Income Net Interest Margin (non-GAAP) 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3.51% (0.24)% 0.31% (0.07)% 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 remained within guidance range; strong earning asset growth drove net interest income higher Derivatives Held by the Company as of December 31, 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 $502.6MM Q2 '24 NII $525.1MMNIM Linking Chart 12/31/2024 9/30/2024 Variance Total earning assets (7) 6.09 % 6.33 % (0.24) % Total interest-bearing liabilities 3.44 % 3.75 0.31 % Net free funds/contribution (6)/ Net interest income/Net interest margin 0.86 % 0.93 -0.07 NIM 3.51 % 3.51 Manual Input - Data Comes from Joel Pending Expect sustained NII growth and Stable NIM through 2025 Q4 2024 NII Boosted By Solid Organic Growth and Stable NIM Q4 2024 Highlights As of December 31, 2024 Collars Weighted Average Cap Rate: 3.72% Collars Weighted Average Floor Rate: 2.23% Receive Fixed Swaps Weighted Average Rate: 3.86% 1 Balances shown represent the notional amount of cash flow hedging derivatives that are effective as of the dates presented. Reference the Appendix slide 24 for the complete derivative schedule. ($ in Billions) ($ in Millions) • Expect sustained NII growth and Stable NIM through 2025 Highlights Q4 2024

 
1313 $100.8 $140.6 $121.1 $113.1 $113.5 $33.3 $34.8 $35.4 $37.2 $38.8 $14.2 $14.1 $13.9 $15.3 $15.3$14.5 $14.8 $15.5 $16.4 $18.9 $31.4 $49.2 $27.2 $28.2 $20.0 $7.4 $27.7 $29.1 $16.0 $20.5 Wealth Management Operating Lease Income, net Service Charges on Deposits Other ; incl. Call Option Income Mortgage Banking Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 $439.2 $475.6 $722.2 $766.8 $660.3 $315.6 $331.5 $544.4 $527.4 $483.4 $123.6 $144.1 $177.8 $239.4 $176.9 Retail Originations Veterans First Originations Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Mortgage Originations for Sale Decreased in Q4 2024 but are 50% Higher Than Q4 2023 MSRs Increased Due to Higher Mortgage Rates Continued Strong Wealth Management Business Non-Interest Income Increased Primarily Due to MSR Valuation Adjustment Offset by Net Losses on Investment Securities 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 $33.3 $34.8 $35.4 $37.2 $38.8 $47.1 $48.7 $48.2 $51.1 $51.2 Total Wealth Management Revenue Assets Under Administration ($ in Billions) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 ($ in Millions) ($ in Millions) % of MSRs to Loans Serviced for Others Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 1.60% 1.67% 1.68% 1.52% 1.64% $192.5 $201.1 $204.6 $186.3 $203.8 $12,007 $12,051 $12,211 $12,253 $12,401 MSRs, at fair value Loans Serviced for Others Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 ($ in Millions) ($ in Millions) Non-Interest Income Diversified fee businesses supported non-interest income levels despite challenging mortgage environment Manual Input - Data Comes from Mortgage Team Pending AUM Pending

 
1414 $194.0 $195.2 $198.5 $211.3 $212.1 $111.5 $112.2 $113.9 $119.0 $121.0 $49.0 $51.0 $52.1 $57.6 $54.8 $33.5 $32.0 $32.5 $34.7 $36.3 Salaries Commissions and Incentive Compensation Benefits Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 $31.2 $36.6 $45.1 $50.1 $52.9 $56.3 $64.9 2.85% 2.79% 2.51% 2.42% 2.33% 2.45% 2.36% Total Assets Non-Interest Expense as a % of Average Assets FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Efficiency Ratio Decreased as Income Outpaced Expense Growth 63.51% 54.95% 56.83% 58.58% 57.18% Efficiency Ratio (non-GAAP) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2024 Non-Interest Expense Advertising and Marketing FDIC Special Assessment Salaries and Benefits Occupancy Expense All Other Expenses Q2 2024 Non-Interest Expense Non-Interest Expense Continue to manage our expenses and believe they are in line with Company growth ($ in Millions) Strong 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 Total Salaries and Benefits Expense Relatively Stable Quarter over Quarter as Q4 2024 Impacted by Three Months of Macatawa Expenses

 
1515 $436.2 $2.2 $(1.3) $437.1 9/30/2024 Portfolio Changes Economic Factors 12/31/2024 $14.9 $21.8 $30.0 $26.7 $15.9 $42.9 $21.7 $40.1 $22.3 $17.0 0.14% 0.21% 0.28% 0.23% 0.13% NCOs Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 $139.0 $148.4 $174.3 $179.7 $170.8 $91.3 $89.9 $119.1 $125.4 $119.6 $0.0 $0.0 $0.0 $0.0 $6.4$47.7 $58.5 $55.2 $54.3 $44.8 0.33% 0.34% 0.39% 0.38% 0.36% NPLs as a % of Total Loans PFR - Commercial NPLs PFR - Life NPLs Commercial, CRE and Other NPLs 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $(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 $45,715 $46,811 Q3 2024 Q4 2024 $729 $665 Q3 2024 Q4 2024 $623 $579 Q3 2024 Q4 2024 Pass and Loans Guaranteed1 Special Mention Substandard2 1Pass and Loans Guaranteed: Includes early buy-out loans guaranteed by U.S. government agencies 2Substandard: Substandard includes Substandard Accrual and Substandard Nonaccrual/Doubtful 97% 97% 2% 2% 1% 1% Credit Quality Diversified business lines and strong credit management support stable credit quality Macatawa's Historical NPLs Highlight Pristine Asset Quality Manageable Levels of Non-Performing Loans ($ 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 $14.9 $21.8 $30.0 $26.7 $15.9 $42.9 $21.7 $40.1 $22.3 $17.0 0.14% 0.21% 0.28% 0.23% 0.13% NCOs Total Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Provision Decrease Driven by Lower Charge-offs, Improved Credit Quality & CECL Economic Outlook Offset by Growth in the Portfolio ($ 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 $6.8 Adequate Allowance Coverage ($ 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

 
1616 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 20 24 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

 
1717 • Slight increase in allowance for credit losses driven by portfolio changes, mainly loan growth, which was offset by an improved macroeconomic scenario • Coverage across all portfolios remains strong to protect against downside risks to future economic performance • 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 $44.7 $47.1 $48.1 0.98% 0.93% 0.91% Total Loan Period End Balance Allowance as a % of Total Loans 6/30/2024 9/30/2024 12/31/2024 $26.3 $28.4 $28.8 1.52% 1.40% 1.36% Core Loan Period End Balance Allowance as a % of Category 6/30/2024 9/30/2024 12/31/2024 $18.4 $18.7 $19.3 0.21% 0.21% 0.23% Niche Loan Period End Balance Allowance as a % of Category 6/30/2024 9/30/2024 12/31/2024 Credit Quality - Allowance for Loan Losses The Company remains well-reserved Consistently Well-Reserved Across Our Core Loan PortfolioSufficient Allowance Coverage on Total Loan Portfolio ($ in Billions) ($ in Billions) Allowance Provides Appropriate Coverage Given Minimal Historic Losses in Niche Portfolio ($ in Billions) Q4 2024 Highlights Manual Input - All Data comes from Mike Reiser

 
1818 $169.6 $166.5 $182.0 $171.6 $175.8 1.32% 1.23% 1.29% 1.13% 1.13% Calculated Allowance Allowance as a % of Category 12/31/2024 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $39.0 $31.8 $51.4 $63.8 $73.6 0.30% 0.24% 0.36% 0.42% 0.47% NPLs NPL as a % of Category 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $12,832 $13,503 $14,154 $15,248 $15,575 0.14% 0.33% 0.25% 0.61% 0.11% Period End Balance Net Charge-Off Ratio 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 44% 10%5% 16% 8% 6% 4% 7% Commercial and industrial Asset-based lending Municipal Leases Franchise Mortgage warehouse lines of credit Community Advantage - HOA Insurance agency lending Credit Quality - Commercial Loans Diversified portfolio with low net charge-offs Manageable Levels of Non-Performing Commercial LoansStrong Loan Growth With Low Charge-off Levels ($ in Millions) ($ in Millions) Allowance Provides Appropriate Coverage Commercial Loan Composition (as of 12/31/2024) ($ in Millions)

 
1919 $11,344 $11,633 $11,947 $12,793 $12,904 0.19% 0.19% 0.53% 0.00% 0.03% Period End Balance Net Charge-Off Ratio 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $35.5 $39.3 $48.3 $42.3 $21.0 0.31% 0.34% 0.40% 0.33% 0.16% NPLs NPL as a % of Category 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 215.7 215.7 223.7 231.1 222.9 1.90% 1.85% 1.87% 1.81% 1.73% Calculated Allowance Allowance as a % of Category 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 13% 21% 11% 24% 13% 16% 2% Office Industrial Retail Multi-family Mixed use and other Commercial and Residential construction Land Credit Quality - Commercial Real Estate Loans Well-diversified portfolio with a majority of its exposure in stabilized, income producing properties NPLs Show Continued Improvement Steady Growth in Portfolio While Maintaining Sound Credit Standards ($ in Millions) ($ in Millions) Ample Allowance Levels to Protect Against Potential Future Market Pressure Commercial Real Estate Loan Composition (as of 12/31/2024) ($ in Millions)

 
2020 Medical Non Owner- Occupied, 27% Medical Owner Occupied, 3% Non-Medical Owner- Occupied, 14% Non-Medical Non Owner-Occupied, 56% $403.5 $322.3 $212.1 $216.9 $285.7 $215.6 $158.5 $159.6 $152.8 $141.0 $187.3 $122.6 Total CRE Office Non-Medical Non Owner-Occupied <$2M $2M-$5M $5M-$10M $10M-$15M $15M-$20M >=$20M Chicago CBD, 10% Other CBD, 12% Suburban, 78% 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 $1,286.7 $202.3$167.1 $921.8 ### $242.5 $448.2 284937 99 50 30 21 18 12 17 11 8 5 Number of Loans Per Category CRE Office Portfolio (as of 12/31/2024) CRE office represents a minimal percentage of the total loan portfolio CRE Office Portfolio Geography ($ 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 >=$20M # of Loans CRE 937 99 30 18 17 8 Non Med 284 50 21 12 11 5 Portfolio Characteristics As of 9/30/2024 As of 12/31/2024 Balance ($ in Millions) $1,675 $1,656 CRE office as a % to Total CRE 13.09% 12.83% CRE office as a % to Total Loans 3.56% 3.45% Average Size of Loan ($ in Millions) $1.5 $1.5 Non-Performing Loan (NPL) Ratio 1.57% 0.43% Loans Still Accruing that are 30-89 Days Past Due Ratio 1.66% 0.26% Owner Occupied or Medical % 44% 44% $43.6 Manual Input - Data Comes from Mario's Team Medical $ 448.2 Medical Owner Occupied $ 43.6 Non-Medical Owner-Occupied $ 242.5 Non-Medical Non Owner- Occupied $ 921.8 Chicago CBD $ 167.1 Other CBD $ 202.3 Suburban $ 1,286.7 Total $ 1,658.5 PENDING

 
2121 Manual Input - Data comes from Dominic Sarro $0.0 $0.0 $0.0 $0.0 $6.4 0.00% 0.00% 0.00% 0.00% 0.08% NPLs NPL as a % of Category 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $8,449 $1,845 Cash Surrender Value Other $7,878 $7,872 $7,962 $7,997 $8,147 0.00% 0.00% 0.00% 0.00% 0.00% Period End Balance Net Charge-Off Ratio 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 1 Loan Collateral reported at actual values versus credit advance rate 2 Collateral Coverage is calculated by dividing Total Loan Collateral (Undiscounted) by Total Loan Portfolio Balance 4% 71% 7% 18% Annuity Brokerage Account Certificate of Deposit Letters of Credit OtherCollateral Coverage2 of 126% Credit Quality Premium Finance Receivables - Life Insurance Life insurance portfolio remains steady and has continued to demonstrate exceptional credit quality Non-Performing Loans Increase Driven by a Single Relationship and Overall Portfolio NPLs Remain LowQ4 2024 Balances Remained Consistent with Strong Credit Quality ($ in Millions) ($ in Millions) Total Loan Collateral1 by Type (as of 12/31/2024) "Other" Loan Collateral1 by Type (as of 12/31/2024) ($ in Millions) Pending

 
2222 Steady Levels of Non-Performing LoansConsistent Loan Growth $6,904 $6,940 $7,101 $7,132 $7,272 0.29% 0.32% 0.33% 0.24% 0.59% Period End Balance Net Charge-Off Ratio 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $4,140 $4,209 $5,080 $4,499 $4,565 Originations Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 $47.7 $58.5 $55.1 $54.3 $44.8 0.69% 0.84% 0.78% 0.76% 0.62% NPLs NPL as a % of Category 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 $3,600 $2,331 $1,110 $231 Current Premium Finance Receivables - Property and Casualty Insurance Loan Balances Projected to Mature Based on Modeled Contractual Cash Flows ≤ 3 Months 4-6 Months 7-9 Months > 9 months Premium Finance Receivables - Property and Casualty Insurance ($ in Millions) ($ in Millions) Projected Repayments Strong Origination Volume Continued in the Fourth Quarter ($ in Millions) ($ in Millions) Manual Input - Data comes from Mark B Manual Input - Data comes from Thanos Polyzois and Matt for Canada Pending

 
2323 Appendix

 
2424 Hedging activities had a 10 basis point unfavorable impact to our Q4 2024 NIM as compared to a 17 basis point unfavorable impact to our Q3 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% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2029 N/A N/A 3.30% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2030 N/A N/A 3.55% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2030 N/A N/A 3.82% Receive Fixed Swap 2/1/2026 $0.25B 2/1/2031 N/A N/A 3.95% Below are the details of the derivatives entered by the Company as of December 31, 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

 
2525 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 12/31/2024) 33% 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% 1.4% 1.5% 4% 2%

 
2626 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

 
2727 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 NPA Non-Performing Asset NPL Non-Performing Loan 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

 
2828 Three Months Ended Years Ended Reconciliation of non-GAAP Net Interest Margin and Efficiency Ratio ($ in Thousands): December 31, September 30, June 30, March 31, December 31, December 31, December 31, 2024 2024 2024 2024 2023 2024 2023 (A) Interest Income (GAAP) $913,501 $908,604 $849,979 $805,513 $793,848 $ 3,477,597 $ 2,893,114 Taxable-equivalent adjustment: - Loans 2,352 2,474 2,305 2,246 2,150 9,377 7,827 - Liquidity Management Assets 716 668 567 550 575 2,501 2,249 - Other Earning Assets 2 2 3 5 4 12 10 (B) Interest Income (non-GAAP) $916,571 $911,748 $852,854 $808,314 $796,577 $3,489,487 $2,903,200 (C) Interest Expense (GAAP) $388,353 $406,021 $379,369 $341,319 $323,874 $1,515,062 $1,055,250 (D) Net Interest Income (GAAP) (A minus C) $525,148 $502,583 $470,610 $464,194 $469,974 $1,962,535 $1,837,864 (E) Net Interest Income (non-GAAP) (B minus C) $528,218 $505,727 $473,485 $466,995 $472,703 $1,974,425 $1,847,950 Net interest margin (GAAP) 3.49 % 3.49 % 3.50 % 3.57 % 3.62 % 3.51 % 3.66 % Net interest margin, fully taxable-equivalent (non-GAAP) 3.51 % 3.51 % 3.52 % 3.59 % 3.64 % 3.53 % 3.68 % (F) Non-interest income $113,451 $113,147 $121,147 $140,580 $100,829 $488,325 $434,106 (G) (Losses) gains on investment securities, net (2,835) 3,189 (4,282) 1,326 2,484 (2,602) 1,525 (H) Non-interest expense 368,539 360,687 340,353 333,145 362,652 1,402,724 1,312,499 Efficiency ratio (H/(D+F-G)) 57.46 % 58.88 % 57.10 % 55.21 % 63.81 % 57.17 % 57.81 % Efficiency ratio (non-GAAP) (H/(E+F-G)) 57.18 % 58.58 % 56.83 % 54.95 % 63.51 % 56.90 % 57.55 % The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Reconciliation of non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $253,081 $232,709 $211,343 $249,956 $165,243 $947,089 $845,081 Add: Provision for credit losses 16,979 22,334 40,061 21,673 42,908 $101,047 $114,390 Pre-tax income, excluding provision for credit losses (non-GAAP) $270,060 $255,043 $251,404 $271,629 $208,151 $1,048,136 $959,471 Non-GAAP Reconciliation

 
2929 Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $ 253,081 $ 232,709 $ 211,343 $ 249,956 $ 165,243 $ 947,089 $ 845,081 Add: Provision for credit losses 16,979 22,334 40,061 21,673 42,908 101,047 114,390 Pre-tax income, excluding provision for credit losses (non-GAAP) $ 270,060 $ 255,043 $ 251,404 $ 271,629 $ 208,151 $ 1,048,136 $ 959,471 Three Months Ended Years Ended Reconciliation of non-GAAP Return on Average Tangible Common Equity ($ in Thousands): December 31, September 30, June 30, March 31, December 31, December 31, December 31, 2024 2024 2024 2024 2023 2024 2023 (N) Net income applicable to common shares $178,371 $163,010 $145,397 $180,303 $116,489 $667,081 $594,662 Add: Intangible asset amortization 5,773 4,042 1,122 1,158 1,356 12,095 5,498 Less: Tax effect of intangible asset amortization (1,547) (1,087) (311) (291) (343) (3,217) (1,446) After-tax intangible asset amortization $ 4,226 $ 2,955 $ 811 $ 867 $ 1,013 $ 8,878 $ 4,052 (O) Tangible net income applicable to common shares (non-GAAP) $182,597 $165,965 $146,208 $181,170 $117,502 675,959 598,714 Total average shareholders’ equity $6,418,403 $5,990,429 $5,450,173 $5,440,457 $5,066,196 $5,826,940 $5,023,153 Less: Average preferred stock (412,500) (412,500) (412,500) (412,500) (412,500) (412,500) $(412,500) (P) Total average common shareholders’ equity $6,005,903 $5,577,929 $5,037,673 $5,027,957 $4,653,696 $5,414,440 $ 4,610,653 Less: Average intangible assets (921,438) (833,574) (677,207) (678,731) (679,812) (778,283) $ (679,802) (Q) Total average tangible common shareholders’ equity (non-GAAP) $5,084,465 $4,744,355 $4,360,466 $4,349,226 $3,973,884 $ 4,636,157 $ 3,930,851 Return on average common equity, annualized (N/P) 11.82 % 11.63 % 11.61 % 14.42 % 9.93 % 12.32 % 12.90 % Return on average tangible common equity, annualized (non-GAAP) (O/Q) 14.29 13.92 13.49 16.75 11.73 14.58 15.23 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

 
3030 Three Months Ended Reconciliation of non-GAAP Tangible Common Equity ($'s and Shares in Thousands): December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Total shareholders’ equity (GAAP) $6,344,297 $6,399,714 $5,536,628 $5,436,400 $5,399,526 Less: Non-convertible preferred stock (GAAP) (412,500) (412,500) (412,500) (412,500) (412,500) Less: Intangible assets (GAAP) (918,632) (924,646) (676,562) (677,911) (679,561) (I) Total tangible common shareholders’ equity (non-GAAP) $5,013,165 $5,062,568 $4,447,566 $4,345,989 $4,307,465 (J) Total assets (GAAP) 64,879,668 63,788,424 59,781,516 57,576,933 56,259,934 Less: Intangible assets (GAAP) (918,632) (924,646) (676,562) (677,911) (679,561) (K) Total tangible assets (non-GAAP) $63,961,036 $62,863,778 $59,104,954 $56,899,022 $55,580,373 Common equity to assets ratio (GAAP) (L/J) 9.1 % 9.4 % 8.6 % 8.7 % 8.9 % Tangible common equity ratio (non-GAAP) (I/K) 7.8 % 8.1 % 7.5 % 7.6 % 7.7 % Reconciliation of non-GAAP Tangible Book Value per Common Share ($'s and Shares in Thousands): Total shareholders’ equity $6,344,297 $6,399,714 $5,536,628 $5,436,400 $5,399,526 Less: Preferred stock (412,500) (412,500) (412,500) (412,500) (412,500) (L) Total common equity $5,931,797 $5,987,214 $5,124,128 $5,023,900 $4,987,026 (M) Actual common shares outstanding 66,495 66,482 61,760 61,737 61,244 Book value per common share (L/M) $89.21 $90.06 $82.97 $81.38 $81.43 Tangible book value per common share (non-GAAP) (I/M) $75.39 $76.15 $72.01 $70.40 $70.33 Reconciliation of Non-GAAP Return on Average Tangible Common Equity: ($'s and Shares in Thousands): December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 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): December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 (N) Net income applicable to common shares $ 178,371 $ 163,010 $ 145,397 $ 180,303 $ 116,489 Add: Intangible asset amortization $ 5,773 $ 4,042 $ 1,122 $ 1,158 1356000 Less: Tax effect of intangible asset amortization $ (1,547) $ (1,087) $ (311) $ (291) (343) After-tax intangible asset amortization $ 4,226 $ 2,955 $ 811 $ 867 1,013 (O) Tangible net income applicable to common shares (non-GAAP) $ 182,597 $ 165,965 $ 146,208 $ 181,170 117,502 Total average shareholders’ equity $ 6,418,403 $ 5,990,429 $ 5,450,173 $ 5,440,457 $ 5,066,196 Less: Average preferred stock $ (412,500) $ (412,500) $ (412,500) $ (412,500) $ (412,500) (P) Total average common shareholders’ equity $ 6,005,903 $ 5,577,929 $ 5,037,673 $ 5,027,957 $ 4,653,696 Less: Average intangible assets $ (921,438) $ (833,574) $ (677,207) $ (678,731) $ (679,812) (Q) Total average tangible common shareholders’ equity (non-GAAP) $5,084,465 $4,744,355 $4,360,466 $4,349,226 $3,973,884 Return on average common equity, annualized (N/P) 11.82% 11.63% 11.61% 14.42% 9.93% Return on average tangible common equity, annualized (non-GAAP) (O/Q) 14.29 13.92 13.49 16.75 11.73 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.

 
v3.24.4
Document and Entity Information Document
Jan. 21, 2025
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jan. 21, 2025
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
Entity Address, Address Line Two 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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