Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 6

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 6
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 rail, marine, buses), construction, manufacturing equipment, technology, oil and gas, restaurant equipment, medical and healthcare. As of December 31, 2024, the Company’s leasing portfolio, including direct financing leases, loans and equipment on operating leases, totaled $3.9 billion compared to $3.4 billion as of December 31, 2023. During 2024, Wintrust Asset Finance contributed approximately $89.6 million to our revenue, which does not reflect intersegment eliminations.

Through our wholly-owned subsidiary Tricom, we provide high-yielding, short-term accounts receivable financing and value-added, outsourced administrative services, such as data processing of payrolls, billing and cash management services to the temporary staffing industry. Tricom’s clients, located throughout the United States, provide staffing services to businesses in diversified industries. During 2024, Tricom processed payrolls with associated client billings of approximately $695.5 million 

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and contributed approximately $10.5 million to our revenue, net of interest expense, which does not reflect intersegment eliminations.

In 2024, our commercial premium finance operations, life insurance premium finance operations, leasing operations and accounts receivable finance operations accounted for 49%, 30%, 19% and 2%, respectively, of the total revenues of our specialty finance business. For the years ended December 31, 2024, 2023 and 2022 the specialty finance segment had net revenues of $475.6 million, $435.0 million and $344.4 million, respectively, and net income of $186.3 million, $175.5 million and $120.9 million, respectively. The specialty finance segment had total assets of $11.2 billion, $10.7 billion and $9.8 billion as of December 31, 2024, 2023 and 2022, respectively. The specialty finance segment accounted for 19.1% of our consolidated net revenues, excluding intersegment eliminations, for the year ended December 31, 2024.

Wealth Management

Through our wealth management segment, we offer a full range of wealth management services through four separate subsidiaries (WPT, Wintrust Investments, GLA and CDEC): trust and investment services, tax-deferred like-kind exchange services, asset management solutions, and securities brokerage services.

Wintrust Investments, our registered broker/dealer subsidiary which has been operating since 1931, provides a full range of private client