Company: WTFCN
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001015328-25-000130
Chunk: 123

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 2
Chunk 123
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5 compared to the first quarter of 2024. This was partially offset by an increase in service charges on deposits of $4.6 million (see “Non-Interest Income” for further detail).  

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Table of Contents

Non-interest expense totaled $366.1 million in the first quarter of 2025, an increase of $32.9 million, or 10%, compared to the first quarter of 2024. This increase compared to the first quarter of 2024 was primarily attributable to increased salaries and employee benefits of $16.4 million and increased software and equipment expenses of $7.0 million. (see “Non-Interest Expense” for further detail).  

Management considers the maintenance of adequate liquidity to be important to the management of risk. Accordingly, during the first quarter of 2025, the Company continued its practice of maintaining appropriate funding capacity to provide the Company with adequate liquidity for its ongoing operations. In this regard, the Company benefited from its strong deposit base, a liquid short-term investment portfolio and its access to funding from a variety of external funding sources. See “Deposits” and “Other Funding Sources” for additional information regarding liquidity sources. 

RESULTS OF OPERATIONS

Earnings Summary

The Company’s key operating measures and growth rates for the three months ended March 31, 2025, as compared to the same period last year, are shown below: 

Three months ended(Dollars in thousands, except per share data)March 31,2025March 31,2024Percentage (%) orBasis Point (bp) ChangeNet income$189,039 $187,294 1   %Pre-tax income, excluding provision for credit losses (non-GAAP) (1)277,018 271,629 2 Net income per common share—Diluted2.69 2.89 (7)Net revenue (2)643,108 604,774 6 Net interest income526,474 464,194 13 Net interest margin 3.54 %3.57 %(3)bpsNet interest margin - fully taxable-equivalent (non-GAAP) (1)3.56 3.59 (3)Net overhead ratio (3)1.58 1.39 19 Return on average assets1.20 1.35 (15)Return on average common equity12.21 14.42 (221)Return on average