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1. Company Snapshot

1.a. Company Description

Wintrust Financial Corporation operates as a financial holding company.It operates in three segments: Community Banking, Specialty Finance, and Wealth Management.The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.


It also engages in the retail origination and purchase of residential mortgages for sale into the secondary market; and provision of lending, deposits, and treasury management services to condominium, homeowner, and community associations, as well as asset-based lending for middle-market companies.In addition, this segment offers loan and deposit services to mortgage brokerage companies; lending to restaurant franchisees; direct leasing; small business administration loans; commercial mortgages and construction loans; and financial solutions.It provides personal and commercial banking services primarily to individuals, small to mid-sized businesses, local governmental units, and institutional clients.


The Specialty Finance segment offers commercial and life insurance premiums financing for businesses and individuals; accounts receivable financing, value-added, and out-sourced administrative services; and other specialty finance services, as well as data processing of payrolls, billing, and cash management services to temporary staffing industry.The Wealth Management segment provides trust and investment, asset management, tax-deferred exchange, securities brokerage, and retirement plan services.The company operates 173 banking facilities and 228 ATMs in the Chicago metropolitan area, southern Wisconsin, northwest Indiana, and Florida.


Wintrust Financial Corporation was founded in 1991 and is headquartered in Rosemont, Illinois.

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1.b. Last Insights on WTFC

Wintrust Financial Corporation's recent performance was driven by its record net income of $823.8 million, or $11.40 per diluted common share, for the year ended December 31, 2025. The company's disciplined organic growth, stable net interest margin, and solid credit performance were key factors. Analysts increased their forecasts after the strong Q4 earnings report, with a "Moderate Buy" rating from fourteen ratings firms. Additionally, the company's robust growth in revenue, profits, and balance sheet metrics, justify a continued "Buy" rating. The company will present at the RBC Capital Markets Global Financial Institutions Conference and Raymond James 47th Annual Institutional Investors Conference. Institutional investors' positions in the company include Cornerstone Planning Group LLC, Channing Capital Management LLC, and Gabelli Funds LLC.

1.c. Company Highlights

2. Wintrust Q1 2026 Earnings: Record Income, Steady Margins

Wintrust Financial delivered a fifth straight quarter of record net income, posting $227 million—up from $223 million in Q4 and $189 million in 2025—while earnings per share hit $3.22 versus consensus $2.96. Net interest income held steady with a 3.56 % NIM, supported by $555 million in average earning asset growth and a 2‑basis‑point margin lift, as CFO David Stoehr noted that the increase “was almost enough to offset having two fewer days in the quarter.” The stock trades at a modest 11.72× P/E and 1.37× P/B, reflecting a 0.7 % dividend yield that aligns with the bank’s conservative capital stance.

Publication Date: Apr -22

📋 Highlights
  • Record Net Income:: $227 million for Q1 2026, up from $223 million (Q4 2025) and $189 million (Q1 2025).
  • Net Interest Margin:: Stable at 3.56%, with $555 million average earning asset growth partially offsetting fewer days in the quarter.
  • Credit Quality:: Nonperforming loans fell to $182.8 million (from $185.8 million) and charge-offs at 14 bps (vs. 17 bps in Q4 2025).
  • Loan Growth Outlook:: Mid- to high-single-digit growth for 2026, with Q2 expected to see outsized growth (19% annualized in Q2 2025).
  • Expense Guidance:: Mid-single-digit year-over-year expense growth in 2026, with Q1 expenses typically lower due to seasonality.

Loan Growth and Credit Quality

Loan growth accelerated to 19% annualized in Q2, driven by a robust property‑and‑casualty (P&C) premium‑finance portfolio. Credit quality remains strong: non‑performing loans slipped to $182.8 million, and charge‑offs dropped to 14 bps from 17 bps. The firm’s warehouse line expansion at quarter‑end added momentum, while mortgage originations outpaced competitors thanks to high‑quality, larger originators.

Interest Margin Outlook

Net interest margin is expected to stay near the 3.50‑3.60 % range as Wintrust swaps are replaced to neutralize rate swings. Even with a modest uptick in rates, the bank’s asset‑liability management keeps NIM flat, enabling a projected double‑digit NII growth for the full year. Expense growth is projected at mid‑single‑digit YoY, with first‑quarter costs remaining low.

Capital Position and Dividend

The bank closed Q1 with a CET1 ratio of 10.4 %. A strong Q2 loan pipeline is unlikely to erode capital, and the firm remains comfortable with its capital buffers. Wintrust has an active buyback authorization and is prepared to deploy excess capital, while continuing to pay a modest dividend that reflects its stable earnings profile.

M&A and Growth Strategy

Wintrust pursues disciplined M&A, targeting smaller institutions that offer strategic and cultural fit. While the bank’s expansion includes new branches in all three markets this year, organic growth—particularly in P&C and mortgage warehouses—remains the primary focus. With a solid capital base and a solid NIM, the firm is well positioned to capitalize on opportunities that arise in the near term.

3. NewsRoom

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Wintrust Financial Corporation (WTFC) Q1 2026 Earnings Call Transcript

Apr -21

Source: seekingalpha.com

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Wintrust (WTFC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Apr -20

Source: zacks.com

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Wintrust Financial (WTFC) Q1 Earnings and Revenues Beat Estimates

Apr -20

Source: zacks.com

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Wintrust Financial Corporation Reports Record Quarterly Net Income

Apr -20

Source: globenewswire.com

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Wintrust Financial Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Apr -20

Source: benzinga.com

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Wintrust Financial Corporation Announces Cash Dividends

Apr -15

Source: globenewswire.com

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Wintrust Financial Corporation Announces Retirement of Board Members H. Patrick Hackett Jr. and William J.

Apr -09

Source: globenewswire.com

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Allspring Global Investments Holdings LLC Has $27.18 Million Position in Wintrust Financial Corporation $WTFC

Apr -04

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.21%)

6. Segments

Community Banking

Expected Growth: 6%

Wintrust Financial Corporation's Community Banking segment growth is driven by strategic acquisitions, expansion into new markets, and a focus on commercial lending. Strong relationships with local businesses and municipalities, as well as a commitment to community development, also contribute to growth. Additionally, the segment benefits from a diverse revenue stream and a solid balance sheet, enabling it to capitalize on market opportunities.

Specialty Finance

Expected Growth: 8%

Wintrust Financial Corporation's Specialty Finance segment growth is driven by increasing demand for equipment financing, expansion into new markets, and strategic acquisitions. Additionally, the segment benefits from a strong pipeline of new business opportunities, a diversified portfolio, and a favorable interest rate environment, contributing to an 8% growth rate.

Wealth Management

Expected Growth: 5%

Wintrust Financial Corporation's Wealth Management segment growth is driven by increasing demand for investment management services, strategic acquisitions, and expansion of its advisory services. Additionally, the company's focus on providing personalized wealth management solutions, robust risk management practices, and a strong reputation in the market contribute to its 5% growth.

Intersegment Eliminations

Expected Growth: 0%

Wintrust Financial Corporation's Intersegment Eliminations with 0% growth is driven by the absence of significant transactions between its subsidiaries, lack of material eliminations, and a stable organizational structure, resulting in no eliminations required to consolidate financial statements.

7. Detailed Products

Community Banking

Provides traditional community banking services, including checking and savings accounts, loans, and treasury management services to individuals, small businesses, and commercial customers.

Commercial Banking

Offers commercial lending, treasury management, and deposit services to middle-market companies, as well as asset-based lending and factoring services.

Wealth Management

Provides investment, trust, and estate services to individuals, families, and institutions through its subsidiaries, including Wintrust Investments and Great Lakes Advisors.

Mortgage Banking

Originates and services residential mortgages, as well as provides mortgage banking services to financial institutions.

Specialty Lending

Offers specialized lending services, including commercial mortgage banking, construction lending, and leasing services.

Fiduciary Services

Provides fiduciary services, including trust, estate, and guardianship services, through its subsidiary, Chicago Deferred Exchange Company.

8. Wintrust Financial Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Wintrust Financial Corporation operates in a highly competitive industry, but the threat of substitutes is mitigated by the complexity and specialization of financial services.

Bargaining Power Of Customers

Wintrust Financial Corporation's customers have significant bargaining power due to the availability of alternative financial institutions and online banking services.

Bargaining Power Of Suppliers

Wintrust Financial Corporation has a diverse supplier base, and the bargaining power of suppliers is limited due to the company's size and negotiating power.

Threat Of New Entrants

The threat of new entrants in the financial services industry is moderate, as regulatory barriers and capital requirements limit the ease of entry.

Intensity Of Rivalry

The financial services industry is highly competitive, with many established players and a high level of rivalry among banks and financial institutions.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 40.68%
Debt Cost 5.51%
Equity Weight 59.32%
Equity Cost 9.95%
WACC 8.14%
Leverage 68.57%

11. Quality Control: Wintrust Financial Corporation passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Wintrust Financial

A-Score: 6.2/10

Value: 6.7

Growth: 6.9

Quality: 7.2

Yield: 4.0

Momentum: 5.0

Volatility: 7.3

1-Year Total Return ->

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Bank of Hawaii

A-Score: 6.0/10

Value: 6.0

Growth: 3.7

Quality: 7.5

Yield: 8.0

Momentum: 3.0

Volatility: 8.0

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Atlantic Union Bankshares

A-Score: 5.9/10

Value: 6.2

Growth: 5.2

Quality: 7.0

Yield: 8.0

Momentum: 2.5

Volatility: 6.7

1-Year Total Return ->

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SouthState

A-Score: 5.5/10

Value: 5.3

Growth: 5.4

Quality: 6.9

Yield: 5.0

Momentum: 2.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
UMB

A-Score: 5.4/10

Value: 5.9

Growth: 5.8

Quality: 6.3

Yield: 4.0

Momentum: 3.5

Volatility: 7.0

1-Year Total Return ->

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Eastern Bank

A-Score: 5.4/10

Value: 3.8

Growth: 5.8

Quality: 6.1

Yield: 5.0

Momentum: 5.0

Volatility: 6.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

150.57$

Current Price

150.57$

Potential

-0.00%

Expected Cash-Flows