Company: WTFCN
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001015328-25-000130
Chunk: 48

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 48
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 3.551%; matures November 2030(1)250,000 2,851 Fixed 3.950%; matures February 2031(2)250,000 4,312 Fixed 4.250%; matures February 2031(2)250,000 7,674 Total Cash Flow Hedges$7,950,000 $12,643 (1)Represents interest rate swaps that have effective starting dates of November 1, 2025.(2)Represents interest rate swaps that have effective starting dates of February 1, 2026.In the first quarter of 2022, the Company terminated interest rate swap derivative contracts designated as cash flow hedges of variable rate deposits with a total notional value of $1.0 billion and a five-year term effective July 2022. At the time of termination, the fair value of the derivative contracts totaled an asset of $66.5 million, with such adjustments to fair value recorded in accumulated other comprehensive income or loss. In the second quarter of 2022, the Company terminated one additional interest rate swap derivative contract designated as a cash flow hedge of variable rate deposits with a total notional value of $500.0 million effective since April 2020. The remaining term of such derivative contract was through April 2024 and, at the time of termination, the fair value of the derivative contract totaled assets of $10.7 million, with such adjustments to fair value recorded in accumulated other comprehensive income or loss. For all such terminations, as the hedged forecasted transactions (interest payments on variable rate deposits) are still expected to occur over the remaining term of such terminated derivatives, such adjustments will remain in accumulated other comprehensive income or loss and be reclassified as a reduction to interest expense on a straight-line basis over the original term of the terminated derivative contracts. 

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A rollforward of the amounts in accumulated other comprehensive income or loss related to interest rate derivatives designated as cash flow hedges, including such derivative contracts terminated during the period, follows:Three Months Ended(In thousands)March 31,2025March 31,2024Unrealized (loss) gain at beginning of period$(15,508)$43,538 Amount reclassified from accumulated other comprehensive income or loss to interest income or expense on deposits, loans, and other borrowings 5,746 19,818 Amount of gain (loss) recognized in other comprehensive income or loss52