Company: WTFCN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001015328-25-000188
Chunk: 169

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 169
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 awards. The Company recorded net excess tax benefits of $3.7 million in the first six months of 2025, compared to net excess tax benefits of $4.4 million in the first six months of 2024 related to share-based compensation, most of which was recorded in the first quarter for each year. 

Operating Segment Results

The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management. Refer to Note (13) “Segment Information” to the Consolidated Financial Statements in Item 1 of this report for further information on the Company’s primary segments. The Company’s profitability is primarily dependent on the net interest income, provision for credit losses, non-interest income and operating expenses of its community banking segment. 

The community banking segment’s net interest income for the quarter ended June 30, 2025 totaled $436.7 million as compared to $358.8 million for the same period in 2024, an increase of $77.8 million, or 22%. On a year-to-date basis, net interest income for the segment increased by $133.2 million from $722.5 million for the six months ended June 30, 2024 to $855.7 million for the six months ended June 30, 2025. The increase in the three and six month periods was primarily attributable to growth in average earning assets coupled with a relatively stable net interest margin. The community banking segment’s non-interest income totaled $75.5 million in the second quarter of 2025, an increase of $3.9 million, or 5%, when compared to the second quarter of 2024 total of $71.6 million. On a year-to-date basis, non-interest income totaled $149.0 million for the six months ended June 30, 2025, an increase of $2.7 million, or 2%, compared to $146.3 million for the six months ended June 30, 2024. The increase in the three and six month periods, was primarily the result of an increase on gains recognized on investment securities and increased service charges on deposit accounts, partially offset by decreased mortgage banking revenue due to the decreases in MSRs related to the change in fair value model assumptions. The community banking segment recorded provision for credit losses of $20.5 million and $42.9 million, respectively, for the three and six months ended June 30, 2025, compared to $36.3 million and $56