Company: WTFCN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001015328-25-000188
Chunk: 171

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 171
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 and stood at $64.6 million and $59.6 million for the six months ended June 30, 2025 and 2024, respectively. Non-interest expenses increased by $5.4 million and $8.1 million, respectively, for the three and six months, ended June 30, 2025 compared to the same periods in 2024, primarily because of higher employee benefits, commissions, and incentive compensation as well as other segment expenses. Our property and casualty insurance premium finance operations, life insurance finance operations, lease financing operations and accounts receivable finance operations accounted for 47%, 30%, 21% and 2%, respectively, of the net revenues of our specialty finance business for the six month period ended June 30, 2025. The net income of the specialty finance segment for the quarter ended June 30, 2025 totaled $48.8 million as compared to $53.1 million for the quarter ended June 30, 2024. On a year-to-date basis, the net income of the specialty finance segment for the six months ended June 30, 2025 totaled $99.1 million as compared to $95.6 million for the six months ended June 30, 2024.

The wealth management segment reported net interest income of $4.8 million for the second quarter of 2025 compared to $7.9 million in the same quarter of 2024, a decrease of $3.1 million. On a year-to-date basis, net interest income totaled $10.2 million for the first six months of 2025, as compared to $15.7 million for the first six months of 2024. Net interest income for this segment is primarily comprised of an allocation of the net interest income earned by the community banking segment on non-interest-bearing and interest-bearing wealth management customer account balances on deposit at the banks. Wealth management customer account balances on deposit at the banks averaged $1.1 billion and $1.5 billion in the first six months of 2025 and 2024, respectively. This segment recorded non-interest income of $39.5 million for the second quarter of 2025 compared to $35.6 million for the second quarter of 2024. The increase in the three month period was primarily due to higher wealth management revenue driven by an increase in asset valuations. On a year-to-date basis, this segment recorded non-interest income of $73.3 million for the first six months