Wintrust Reports Record Q1 Net Income, Leasing Assets Approach $1B



Wintrust Financial announced Q1/18 net income was a record $82.0 million, up 19.2% from net income of $68.8 million for Q4/17 and up 40.4% from $58.4 million for Q1/17.

Wintrust noted its leasing business remained steady during Q1/18, with its portfolio of assets, including capital leases, loans and equipment on operating leases, totaling $986.7 million at the end of Q1/18.

Edward J. Wehmer, president and chief executive officer, commented, “Wintrust reported record net income for the ninth consecutive quarter. These results reflected the steady strength of our internal growth engine at Wintrust as we grew assets by $541 million. The first quarter of 2018 was also characterized by the increased net interest margin as we continued to benefit from rising interest rates, reduced operating costs, steady credit quality metrics and the completion of the acquisition of Veterans First.”

Wehmer continued, “We grew our loan portfolio by $421 million during the first quarter of 2018, which was driven by strong growth in the commercial loan portfolio. The improvement in net interest margin during the period was primarily attributable to rising interest rates in the market. We remain well positioned for expected rising rates in the future. The increased loan volume and continued improvement in net interest margin along with the continued momentum from loan growth at the very end of 2017 resulted in an increase in net interest income of $6.0 million in the first quarter of 2018, despite two less days in the quarter. Our loan pipelines remain consistently strong.”


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