Company: WTFCN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001015328-25-000207
Chunk: 46

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 46
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 Borrowings and Subordinated Notes

The following table is a summary of FHLB advances, other borrowings and subordinated notes as of the dates shown:(In thousands)September 30,2025December 31,2024September 30,2024FHLB advances$3,151,309 $3,151,309 $3,171,309 Other borrowings:Notes payable121,368 142,763 149,894 Secured borrowings401,863 334,934 439,513 Other56,097 57,106 57,636 Total other borrowings579,328 534,803 647,043 Subordinated notes298,536 298,283 298,188 Total FHLB advances, other borrowings and subordinated notes$4,029,173 $3,984,395 $4,116,540 Descriptions of the Company’s FHLB advances, other borrowings, and subordinated notes are included in Note (11) “Federal Home Loan Bank Advances,” Note (12) “Subordinated Notes” and Note (13) “Other Borrowings” of the 2024 Form 10-K.Notes PayableNotes payable balances represent the balances on the Company’s credit agreement with certain unaffiliated banks. At September 30, 2025, the outstanding principal balance under the term loan facility was $121.4 million and there was no outstanding balance under the revolving credit facility. Borrowings under notes payable are secured by pledges of and first priority perfected security interests in the Company’s equity interest in its bank subsidiaries and contain several restrictive covenants, including the maintenance of various capital adequacy levels, asset quality and profitability ratios, and certain restrictions on dividends and other indebtedness. At September 30, 2025, the Company was in compliance with all such covenants. 

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Table of Contents

Secured BorrowingsThe balance of secured borrowings primarily represents a third party Canadian transaction (“Canadian Secured Borrowing”). Under the Canadian Secured Borrowing, the Company, through its subsidiary, First Insurance Funding of Canada (“FIFC Canada”), sells an undivided co-ownership interest in all receivables owed to FIFC Canada to an unrelated third party in exchange for cash payments pursuant to a receivables purchase agreement (“Receivables Purchase Agreement”). On August 29, 2024, the Company entered into the Twelfth Amending Agreement