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Wintrust Financial Corporation
727 North Bank Lane, Lake Forest, Illinois 60045
FOR IMMEDIATE RELEASE
|January 18, 2012|
FOR MORE INFORMATION CONTACT:
Edward J. Wehmer, President & Chief Executive Officer
David A. Dykstra, Senior Executive Vice President & Chief Operating Officer
Web site address: www.wintrust.com
WINTRUST FINANCIAL CORPORATION REPORTS FOURTH QUARTER 2011 NET INCOME OF $19.2
MILLION, AN INCREASE OF 35% AND RECORD FULL YEAR 2011 NET INCOME OF $77.6 MILLION
LAKE FOREST, ILLINOIS Wintrust Financial Corporation (Wintrust or the Company) (Nasdaq WTFC) announced net income of $19.2 million or $0.41 per diluted common share for the fourth quarter of 2011 compared to net income of $14.2 million or ($0.06) per diluted common share for the fourth quarter of 2010. The Company recorded net income of $77.6 million or $1.67 per diluted common share for the full year of 2011 compared to net income of $63.3 million or $1.02 per diluted common share for the full year of 2010.
The Companys total assets of $15.9 billion at December 31, 2011 increased $1.9 billion from December 31, 2010. Total deposits as of December 31, 2011 were $12.3 billion, an increase of $1.5 billion from December 31, 2010. Noninterest bearing deposits increased by $584 million or 49% since December 31, 2010, while NOW, wealth management, money market and savings deposits increased $914 million or 19% during the same time period. Total time certificates of deposit remained essentially unchanged at December 31, 2011 compared to December 31, 2010. Total loans, including loans held for sale but excluding covered loans, were $10.8 billion as of December 31, 2011, an increase of $871 million over December 31, 2010.
Edward J. Wehmer, President and Chief Executive Officer, commented, Our reported fourth quarter net income of $19.2 million caps a record year of earnings for the Company. Full year net income for 2011 of $77.6 million represents our highest reported net income in the history of Wintrust. The fourth quarter of 2011 was highlighted by solid loan growth, an increase in net interest margin and net interest income, growth of pre-tax adjusted earnings, continued improvement in credit quality, and continued favorable shifting in the mix of the deposit funding base.
Total loans outstanding at December 31, 2011, excluding covered loans but including loans held for sale, increased $356 million from September 30, 2011. This growth was primarily comprised of $210 million of commercial and commercial real-estate and $107 million of mortgage loans held for sale. Funding of this loan
The following information was filed by Wintrust Financial Corp (WTFC) on Thursday, January 19, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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