Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 136

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 136
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ged transaction affects earnings. Changes in fair values of derivative financial instruments not designated in a hedging relationship pursuant to ASC 815 are 

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reported in non-interest income during the period of the change. Derivative financial instruments are valued by a third party and are corroborated by comparison with valuations provided by the respective counterparties. Fair values of certain mortgage banking derivatives (interest rate lock commitments and forward commitments to sell mortgage loans) are estimated based on changes in mortgage interest rates from the date of the loan commitment. The fair value of foreign currency derivatives is computed based on changes in foreign currency rates stated in the contract compared to those prevailing at the measurement date. Commodity derivative fair values are computed based on changes in the price per unit stated in the contract compared to those prevailing at the measurement date.The table below presents the fair value of the Company’s derivative financial instruments as of December 31, 2024 and December 31, 2023:Derivative AssetsDerivative Liabilities(In thousands)December 31, 2024December 31, 2023December 31, 2024December 31, 2023Derivatives designated as hedging instruments under ASC 815:Interest rate derivatives designated as Cash Flow Hedges$7,329 $40,116 $56,084 $44,456 Interest rate derivatives designated as Fair Value Hedges10,001 12,349 87 273 Total derivatives designated as hedging instruments under ASC 815$17,330 $52,465 $56,171 $44,729 Derivatives not designated as hedging instruments under ASC 815:Interest rate derivatives$177,553 $211,490 $183,799 $210,397 Interest rate lock commitments1,950 4,511 18 — Forward commitments to sell mortgage loans1,297 — 88 5,212 Commodity forward contracts766 888 583 609 Foreign exchange contracts1,131 6,372 1,091 6,308 Total derivatives not designated as hedging instruments under ASC 815$182,697 $223,261 $185,579 $222,526 Total Derivatives$200,027 $275,726 $241,750 $267,255 Cash Flow Hedges of Interest Rate RiskThe Company’s objectives in using interest rate derivatives are to add stability to net interest