Wintrust Financial Corp - WTFC STOCK NEWS

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.

Wintrust Financial Corporation (NASDAQ: WTFC) announced a quarterly cash dividend of $0.40 per share, marking a 17.6% increase from 2022's $0.34. The dividend is payable on February 23, 2023, to shareholders of record by February 9, 2023. Additionally, dividends on the 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, are set for April 15, 2023, with record date April 1, 2023. Wintrust operates approximately $53 billion in assets across 15 community bank subsidiaries.

Wintrust Financial Corporation (Nasdaq: WTFC) reported a strong financial performance for Q4 2022, with net income reaching $144.8 million or $2.23 per diluted share, a 1% increase from Q3 2022. The company achieved record annual net income of $509.7 million for 2022, up 9% from $466.2 million in 2021. Notable highlights include a 14% increase in net interest income, totaling $456.8 million, driven by improved net interest margins and loan growth. Total loans rose by $1 billion (11% annualized). However, a provision for credit losses of $47.6 million was recorded amid macroeconomic challenges. The company aims to grow deposits in 2023 while maintaining strong credit quality.

Wintrust Financial Corporation (Nasdaq: WTFC) has announced its fourth quarter and year-to-date 2022 earnings results will be released after market close on January 18, 2023. A conference call is scheduled for January 19, 2023, at 10:00 a.m. (CDT). Investors can access the audio-only webcast on their website. Wintrust, with approximately $52 billion in assets, operates fifteen community bank subsidiaries and various non-bank business units, focusing on community banking while leveraging advanced technology.