Wintrust Financial reported Q3/16 net income of $53.1 million, up 38% from $38.4 million for Q3/15. EPS of $0.92 beat analysts’ estimates of $0.90 per share. Year-to-date net income of $152.3 million was up 26% from $121.2 million for the same period in 2015.
The following highlights were excerpted from the news release:
Edward J. Wehmer, president and CEO, said, “The growth engine at Wintrust continued its momentum into the third quarter as we recorded nearly $1 billion of asset growth while controlling operating expenses as evidenced by the improvement of our net overhead ratio to 1.44% for the quarter. All aspects of our business performed solidly in the third quarter as evidenced by our record level of net income. Continued strong loan growth and mortgage banking operations, improved credit quality metrics and an improved net overhead ratio fueled the record results this quarter.”
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