Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 76

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 76
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 income. The unearned income portions of such premium finance receivables were $267.7 million and $285.4 million at December 31, 2024 and 2023, respectively. Total loans, excluding PCD loans, include net deferred loan fees and costs and fair value purchase accounting adjustments totaling $78.2 million at December 31, 2024 and $84.2 million at December 31, 2023. Certain real estate loans, including mortgage loans held-for-sale, commercial, consumer, and home equity loans with balances totaling approximately $23.7 billion and $21.1 billion at December 31, 2024 and 2023, respectively, were pledged as collateral to secure the availability of borrowings from certain federal agency banks. At December 31, 2024, approximately $15.1 billion of these pledged loans are included in a pledge of qualifying loans to the FHLB. The remaining $8.6 billion of pledged loans was used to secure potential borrowings at the FRB discount window. At December 31, 2024 and 2023, the banks had outstanding borrowings of $3.2 billion and $2.3 billion from the FHLB in connection with these collateral arrangements. See Note (11) “Federal Home Loan Bank Advances” for a summary of these borrowings.It is the policy of the Company to review each prospective credit in order to determine the appropriateness and, when required, the adequacy of security or collateral necessary to obtain when making a loan. The type of collateral, when required, will vary from liquid assets to real estate. The Company seeks to assure access to collateral, in the event of default, through adherence to state lending laws and the Company’s credit monitoring procedures.

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Acquired Loan Information — PCD LoansAs part of the Company’s prior acquisitions, the Company acquired loans that were classified as PCD based upon various factors as of the acquisition date, including internal risk rating methodologies and prior performance under the acquiree. The following table provides estimated details as of the date of acquisition on PCD loans acquired in 2024:(In thousands)MacatawaContractually required payments (unpaid principal balance)$169,472 Allowance for credit losses(3,004)Discount, net of any premium(4,529)    Purchase price of PCD loans acquired$161,939 

(5) Allowance for Credit Losses 

In accordance with ASC 326, the Company