Company: WTFCN
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001015328-25-000130
Chunk: 142

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 2
Chunk 142
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 for the three month period was primarily the result of loan growth, coupled with a macroeconomic uncertainty qualitative overlay. Non-interest expenses increased by $32.8 million for the quarter ended March 31, 2025 compared to the same period in 2024, primarily because of higher salary, commissions, and incentive compensation. The community banking segment’s net income for the quarter ended March 31, 2025 totaled $134.3 million, an increase of $14.2 million as compared to net income in the first quarter of 2024 of $120.0 million.

The specialty finance segment’s net interest income totaled $91.3 million for the quarter ended March 31, 2025, compared to $82.3 million for the same period in 2024, an increase of $9.0 million, or 11%. The increase for the three month period was primarily due to loan growth as a result of effective marketing and customer servicing. The specialty finance segment’s provision for credit losses totaled $1.5 million and $1.3 million for the three months ended March 31, 2025 and 2024, respectively. The increase in provision for credit losses for the three month period was primarily the result of loan growth. The specialty finance segment’s non-interest income increased to $31.0 million from $27.3 million for the three months ended March 31, 2025 and 2024, respectively. Non-interest expenses increased by $2.7 million for the quarter ended March 31, 2025 compared to the same period in 2024, primarily because of higher salary, commissions, and incentive compensation as well as other segment expenses. Our property and casualty insurance premium finance operations, life insurance finance operations, lease financing operations and accounts receivable finance operations accounted for 47%, 30%, 21% and 2%, respectively, of the net revenues of our specialty finance business for the three month period ended March 31, 2025. The net income of the specialty finance segment for the quarter ended March 31, 2025 totaled $50.3 million as compared to $42.5 million for the quarter ended March 31, 2024. 

The wealth management segment reported net interest income of $5.4 million for the first quarter of 2025 compared to $7.8 million in the same quarter of 2024, a decrease of $2.4 million. Net interest income for this segment is primarily comprised of an