Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 314

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 314
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.8 billion of uninsured and uncollateralized deposits represents approximately 30% of total deposits as of December 31, 2024. The Company had total liquidity sources, including cash and collateralized funding sources of $17.4 billion or approximately 110% of uninsured and uncollateralized deposits as of December 31, 2024.

The following table sets forth, by category, the composition of the average balances of other funding sources for the periods presented:

 Years Ended December 31, 20242023 AveragePercentAveragePercent(Dollars in thousands)Balanceof TotalBalanceof TotalFederal Home Loan Bank advances$3,042,052 72 %$2,316,722 64 %Subordinated notes360,802 8 437,604 12 Notes payable160,396 4 188,900 5 Short-term borrowings6,207 0 17,893 0 Secured borrowings379,194 9 363,173 10 Other58,071 1 60,149 2 Total other borrowings603,868 14 630,115 17 Junior subordinated debentures253,566 6 253,566 7 Total other funding sources$4,260,288 100 %$3,638,007 100 %

FHLB advances provide the banks with access to fixed-rate funds which are useful in mitigating interest rate risk and achieving an acceptable interest rate spread on fixed-rate loans or securities. FHLB advances to the banks outstanding balance totaled $3.2 billion at December 31, 2024 and $2.3 billion at December 31, 2023. See Note (11) “Federal Home Loan Bank Advances” to the Consolidated Financial Statements in Item 8 for further discussion of the terms of these advances.

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Notes payable balances represent the balances on a credit agreement (as amended, the “Credit Agreement”) with certain unaffiliated banks. The Credit Agreement consists of a $200.0 million term loan facility and a $100.0 million revolving credit facility. As of December 31, 2024, the outstanding principal balance under the term loan facility was $142.8 million and there was no outstanding principal balance under the revolving credit facility. See Note (13) “Other Borrowings” to the Consolidated Financial Statements in Item 8 for further discussion of notes payable. 

Short-term