Company: WTFCN
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001015328-25-000130
Chunk: 38

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 38
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 money market accounts) at the Company’s subsidiary banks from brokerage customers of Wintrust Investments, LLC (“Wintrust Investments”), Chicago Deferred Exchange Company (“CDEC”) and trust and asset management customers of the Company.

(11) FHLB Advances, Other 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)March 31,2025December 31,2024March 31,2024FHLB advances$3,151,309 $3,151,309 $2,676,751 Other borrowings:Notes payable135,632 142,763 164,153 Short-term borrowings— — 10,869 Secured borrowings337,065 334,934 341,704 Other56,572 57,106 58,682 Total other borrowings529,269 534,803 575,408 Subordinated notes298,360 298,283 437,965 Total FHLB advances, other borrowings and subordinated notes$3,978,938 $3,984,395 $3,690,124 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 March 31, 2025, the outstanding principal balance under the term loan facility was $135.6 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 March 31, 2025, the Company was in compliance with all such covenants. 

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Short-term BorrowingsShort-term borrowings include securities sold under repurchase agreements of customer sweep accounts in connection with master repurchase agreement at the banks. There were no borrowings at March 31, 2025 or December 31, 2024 compared to $10.