Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 312

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 312
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Performing Assets.” At end of the periods presented in this Annual Report on Form 10-K, the Company had no potential problem loans not already identified as non-performing.

Other Real Estate Owned

In certain circumstances, the Company is required to take action against the real estate collateral of specific loans. The Company uses foreclosure only as a last resort for dealing with borrowers experiencing financial hardships. The Company employs extensive contact and restructuring procedures to attempt to find other solutions for our borrowers. The tables below present a summary of other real estate owned and show the activity for the respective periods and the balance for each property type:

Years Ended(In thousands)December 31,December 31,20242023Balance at beginning of period$13,309 $9,900 Disposal/resolved(20,026)(5,051)Transfers in at fair value, less costs to sell30,040 8,564 Fair value adjustments(207)(104)Balance at period end$23,116 $13,309 

Period End(In thousands)December 31,December 31,20242023Residential real estate$— $720Commercial real estate23,116 12,589Total$23,116 $13,309

Deposits and Other Funding Sources

Total deposits at December 31, 2024, were $52.5 billion, increasing $7.1 billion, or 16%, compared to the $45.4 billion at December 31, 2023. Average deposit balances in 2024 were $47.7 billion, reflecting an increase of $4.5 billion, or 10%, compared to the average balances in 2023. 

The increase in year end and average deposits in 2024 over 2023 is primarily attributable to the Company's increased marketing efforts during 2024 to retain and attract deposits to support continued loan growth, the Macatawa acquisition, and due to the diversity of our deposit base. The Company has experienced a change in the mix of deposits as non-interest bearing deposits have migrated to interest-bearing products as rates paid on deposits increased substantially in 2023 due to the rise in market 

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rates. Average non-interest bearing deposits decreased $806.5 million, or 7% in 2024 compared to 2023, with period end balances ending at 22% of total deposits at December 31, 2024, compared to 23% at December 31, 2023.

The following table