Wintrust Financial reported net income of $89.6 million for Q2/18 compared to net income of $82.0 million Q1/18 and $64.9 million for Q2/17. The company recorded net income of $171.6 million for the first six months of 2018 compared to net income of $123.3 million for the same period of 2017.
Highlights from Wintrust’s Q2/18 earnings release included:
Edward J. Wehmer, president and CEO of Wintrust, said, “Wintrust reported net income of $89.6 million for the second quarter of 2018, the 10th consecutive quarter of record net income, and net income of $171.6 million for the first six months of 2018. These results were driven by strong loan and deposit growth and an increased net interest margin as we continue to benefit from rising interest rates. The second quarter of 2018 was also characterized by good credit quality metrics and increased mortgage banking revenue.
“We experienced strong loan growth within the commercial portfolio and premium finance receivables portfolios during the period. Our loan pipelines improved to the highest levels since the second quarter of 2017. The increased loan volume, continued improvement in net interest margin from rising interest rates and an additional day in the second quarter compared to the first quarter helped net interest income increase by $13.1 million in the second quarter of 2018. Our opportunities for both internal growth and external growth remain consistently strong.”
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