Wintrust Q4 2019 Earnings Report
Key Takeaways
Wintrust Financial Corporation reported a net income of $86.0 million for Q4 2019, which is up 8% compared to Q4 2018. The company experienced strong balance sheet growth, decreased net interest margin, decreased mortgage banking revenue, stable credit quality, and a continued focus to increase franchise value in their market area.
Total assets increased by $1.7 billion, including $240 million from the acquisition of STC Capital Bancshares and $607 million from the acquisition of SBC, Incorporated, or 19% on an annualized basis.
Total loans increased by $1.1 billion, including $164 million from the acquisition of STC Capital Bancshares and $418 million from the acquisition of SBC, Incorporated, or 17% on an annualized basis.
Total deposits increased by $1.4 billion, including $194 million from the acquisition of STC Capital Bancshares and $496 million from the acquisition of SBC, Incorporated, or 19% on an annualized basis; the increase was net of a $201 million reduction in brokered deposits.
The ratio of non-performing assets to total assets declined by two basis points to 0.36%.