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Mar 31, 2021
Wintrust Q1 2021 Earnings Report
Reported record net income and strong loan growth.
Key Takeaways
Wintrust Financial Corporation reported a record net income of $153.1 million for Q1 2021, a 56% increase compared to Q4 2020 and a 144% increase compared to Q1 2020. The company experienced strong loan growth, increased net interest income, and record mortgage banking revenue.
Total assets increased by $601 million.
Total loans, excluding PPP loans, increased by $515 million.
Total deposits increased by $780 million.
Mortgage banking revenue increased by $26.7 million to $113.5 million.
Forward Guidance
Wintrust expects a strong second quarter for mortgage banking production due to seasonal purchase demand offsetting an expected decline in refinance activity. The company also plans to deploy excess liquidity into earning assets and evaluate acquisition targets.
Positive Outlook
- Strong loan pipelines expected to drive continued loan growth.
- Emphasis on growing franchise and gathering low-cost deposits for long-term value.
- Deployment of excess liquidity expected to favorably impact net interest margin.
- Second quarter of 2021 expected to be strong for mortgage banking production.
- Commitment to supporting the community, including participation in PPP.
Challenges Ahead
- Significant net interest margin compression.
- Potential impact of COVID-19 pandemic on the economy, customers, and business.
- Evaluation of operating expense base to enhance future profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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