Wintrust Financial Corp - WTFC STOCK NEWS

Wintrust Financial Corporation (WTFC) reported record quarterly net income of $180.2 million, or $2.80 per diluted share, for Q1 2023, a 26% increase from Q4 2022. Pre-tax, pre-provision income reached $266.6 million, compared to $242.8 million in the previous quarter. Total deposits decreased by $184 million (0.4%), while total loans rose by $369 million. The net interest margin improved to 3.81%, from 3.71%, attributed to higher yields on earning assets. A provision for credit losses of $23 million was recorded, down from $47.6 million in Q4 2022. Non-performing assets remained stable at 0.21% of total assets. Book value per common share increased to $75.24, while tangible book value rose to $64.22. Wintrust aims to strengthen its retail deposit market share going forward.

Wintrust Financial Corporation (NASDAQ: WTFC) announced its first quarter 2023 earnings release on April 19, 2023, after market close, followed by a conference call on April 20, 2023, at 10:00 a.m. (CDT). The earnings release will be accessible on their Investor Relations page, along with a slide presentation. The company operates with approximately $53 billion in assets and focuses on community banking through its fifteen subsidiaries and various non-bank units. Investors are advised of the forward-looking statements that involve risks and uncertainties that could affect actual results.

Wintrust Financial Corporation (WTFC) announced that its community banks ranked highest in the J.D. Power 2023 U.S. Retail Banking Satisfaction Study for the Illinois Region. The study involved over 101,000 retail banking customers and evaluated multiple dimensions, including trust and problem resolution. Wintrust also received accolades in the same category in 2022 and was recognized in the Midwest in 2017 and 2019. The award follows Wintrust's initiative to eliminate consumer overdraft fees, enhancing its customer service approach. The company operates over 170 banking locations, emphasizing a community-focused banking model.

Wintrust Financial Corporation has announced the elimination of all overdraft and item return fees for consumer deposit accounts, effective March 1, 2023. This decision aims to enhance customer relationships through increased financial education and technology engagement. The new structure includes no overdraft fees and no item return fees for consumer accounts, while business accounts will retain their existing fee structures. Additionally, Wintrust plans to offer qualifying direct deposits up to two days early at no cost later in 2023. Wintrust operates approximately 170 locations and has assets of about $53 billion.

Wintrust Financial Corporation (Nasdaq: WTFC) will present at the Raymond James 44th Annual Institutional Investors Conference from March 5 - 8, 2023, in Orlando, Florida. Management will participate in a Q&A session on March 6, 2023, starting at 10:25 AM ET. The event will be webcasted, and can be accessed via Wintrust's website or directly through the webcast link provided. There is no charge to access the event, and a replay will be available for 90 days after the conference. Wintrust has approximately $53 billion in assets and operates fifteen community bank subsidiaries in the greater Chicago and southern Wisconsin areas.

Wintrust Financial Corporation (Nasdaq: WTFC) will present at the RBC Capital Markets Global Financials Conference on March 7-8, 2023. Wintrust management is scheduled for a panel discussion on March 7 at approximately 4:00 PM Eastern Time. The event will be accessible through an audio webcast, available at this link or on Wintrust’s official website. A replay will be available for 90 days post-conference. Wintrust manages approximately $53 billion in assets and focuses on community banking services across Chicago and southern Wisconsin.

Wintrust Financial Corporation (WTFC) announced the transition of its Chief Executive Officer role, effective May 1, 2023. Timothy S. Crane, currently President, will take over as CEO and join the Board of Directors immediately. Edward J. Wehmer will remain CEO until April 30, 2023, then transition to Executive Chairman until May 23, 2024, before becoming Founder and Senior Advisor until December 31, 2026. H. Patrick Hackett Jr. continues as Chairman and Lead Independent Director. The transition follows a rigorous succession planning process and is expected to provide continuity and confidence in Wintrust’s future. Wintrust operates over 170 locations with around $53 billion in assets.