Loading...
•
Mar 31, 2020
Wintrust Q1 2020 Earnings Report
Reported a decrease in net income and diluted earnings per share compared to the prior quarter and the first quarter of 2019.
Key Takeaways
Wintrust Financial Corporation reported a net income of $62.8 million for Q1 2020. The company experienced significant balance sheet growth, stable net interest income, and strong mortgage banking revenue. However, they also saw an increased provision for credit losses due to CECL implementation and COVID-19 economic conditions.
Total assets increased by $2.2 billion.
Total loans increased by $1.0 billion.
Total deposits increased by $1.4 billion.
Net income was $62.8 million, or $1.04 per diluted common share.
Wintrust
Wintrust
Wintrust Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.com Forward Guidance
Wintrust has experienced significant growth in recent quarters and believes that their opportunities for both internal and external growth remain consistently strong, while they continue to carefully monitor the COVID-19 pandemic and evaluate the impact that it could have on the economy, their customers and their business.
Positive Outlook
- Continue to carefully monitor the COVID-19 pandemic.
- Evaluate the impact that it could have on the economy.
- Evaluate the impact that it could have on the customers.
- Evaluate the impact that it could have on the business.
- Remain focused on navigating the current environment by actively monitoring and managing the credit portfolio.
Challenges Ahead
- The severity, magnitude and duration of the COVID-19 pandemic and the direct and indirect impact of such pandemic
- The disruption of global, national, state and local economies associated with the COVID-19 pandemic
- The impact of the COVID-19 pandemic on our financial results, including possible lost revenue and increased expenses (including the cost of capital), as well as possible goodwill impairment charges
- Economic conditions 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, particularly in the markets in which it operates
- Negative effects suffered by us or our customers resulting from changes in U.S. trade policies