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The Chicago-area company has shown a willingness to pursue small branch deals and expand in nearby Wisconsin as it looks for liquidity and lending opportunities.
April 16 -
The $20.4 billion-asset company said in a news release that it could offer fixed-to-floating rate non-cumulative perpetual preferred stock, according to a shelf registration filed with the Securities and Exchange Commission.
June 22 -
Wells Fargo and other banks are testing the use of mobile devices to authenticate consumers in the drive-through lane. The pilot, designed to expedite service and improve security, serves as the latest example of a growing trend: preordering banking services via digital devices.
May 7
Wintrust Financial in Rosemont, Ill. reported higher second-quarter profit due to loan portfolio growth and higher mortgage banking revenues.
The $20.8 billion-asset company's
Net interest income increased 5% to $156.9 million as average loans increased by $1.9 billion. Total loans rose 12% to $15.7 billion. The net interest margin compressed by 21 basis points, to 3.41%.
Noninterest income rose 42% from the second quarter of 2014 to $77 million, largely because of a 51% increase in mortgage banking revenue. In a news release, Chief Executive Edward Wehmer cited higher origination volumes as a factor in the increase.
Noninterest expense grew 15% to $154.3 million. The increase was due to an 80% increase in advertising and marketing costs, as well as higher costs for salaries and employee benefits, occupancy fees and professional fees. Wintrust's efficiency ratio worsened by 28 points to 65.64%.
