Wintrust Financial announced net income of $35.5 million or $0.64 per diluted common share for Q4/15 compared to $38.1 million for Q4/14.

Analysts’ polled by Thomson Financial has expected Q4/15 EPS of $0.78.

The company recorded record net income of $156.7 million for the year ended 2015 compared to net income of $151.4 million for the year ended 2014.

The following highlights were excerpted from the news release:

• Operating net income totaled $39.5 million for the fourth quarter of 2015 and $165.7 million for the full year as earnings were impacted by acquisition and non-operating compensation charges totaling $6.5 million pre-tax in the fourth quarter of 2015 and $14.0 million pre-tax for the full year.
• Wintrust Commercial Finance leasing operations grew outstandings by $220 million since its inception in April of this year. This new venture is positioned to continue to expand in 2016, enhancing our earning asset growth and adding to further asset diversification. Operating lease income of $2.73 million was shown for 2015 on the financials.
• The net interest margin, on a fully taxable equivalent basis, for 2015 was 3.36%, compared to 3.53% for 2014.
• The provision for credit losses was $32.9 million in 2015, up $12.4 million or 60% from $20.5 million in 2014

“Wintrust reported record annual net income in 2015 even with additional acquisition and non-operating compensation charges during the year. The company grew significantly during the year as total assets increased by 15%, reaching nearly $23 billion,” said Edward J. Wehmer, president and CEO of Wintrust. “The expected positive impact from the increase in interest rates announced by the Federal Reserve Bank in late December will be realized throughout 2016.  The company is well positioned to benefit from future increases in interest rates should they occur, barring significant changes in spreads due to competitive pressures or changes in the shape of the yield curve.”