Company: WTFCN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001015328-25-000207
Chunk: 69

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 69
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 to those prevailing at the measurement date.At September 30, 2025, the Company classified $7.1 million of derivative assets related to interest rate locks as Level 3. The fair value of interest rate locks is based on prices obtained for loans with similar characteristics from third parties, adjusted for the pull-through rate, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund. The weighted-average pull-through rate at September 30, 2025 was 84.88% with pull-through rates applied ranging from 6% to 100%. Pull-through rates are directly related to the fair value of interest rate locks as an increase in the pull-through rate results in an increased valuation.Nonqualified deferred compensation assets—The underlying assets relating to the nonqualified deferred compensation plan are included in a trust and primarily consist of non-exchange traded institutional funds which are priced based by an independent third party service. These assets are classified as Level 2 in the fair value hierarchy.

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Table of Contents

The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented:September 30, 2025(In thousands)TotalLevel 1Level 2Level 3Available-for-sale securitiesU.S. Treasury$8,036 $8,036 $— $— U.S. government agencies46,511 — 46,511 — Municipal194,244 — 64,450 129,794 Corporate notes 80,372 — 80,372 — Mortgage-backed4,944,961 — 4,944,961 — Trading account securities— — — — Equity securities with readily determinable fair value63,445 55,379 8,066 — Mortgage loans held-for-sale333,883 — 279,157 54,726 Loans held-for-investment129,593 — 80,373 49,220 MSRs190,938 — — 190,938 Nonqualified deferred compensation assets17,902 — 17,902 — Derivative assets208,957 — 201,808 7,149 Total$6,218,842 $63,415 $5,723,600 $431,827 Derivative liabilities$141,705 $— $141,705 $— December