Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 282

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 282
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,506 $50,424,319 Total average earning assets to total average assets94 %94 %94 %

(1)Includes non-accrual loans.

(2)Liquidity management assets include investment securities, other securities, interest-earning deposits with banks, federal funds sold and securities purchased under resale agreements.

(3)Other earning assets include brokerage customer receivables and trading account securities.

Total average earning assets increased $5.7 billion, or 11%, in 2024. Average earning assets comprised 94% of average total assets in 2024 and  2023.

Mortgage loans held-for-sale. Average mortgage loans held-for-sale totaled $348.3 million in 2024, compared to $294.4 million in 2023. These balances represent mortgage loans awaiting subsequent sale in the secondary market with such sales eliminating the interest-rate risk associated with these loans, as they are predominantly long-term fixed rate loans, and provides a source of non-interest revenue. The increase in average balance from 2023 to 2024 was primarily due to higher mortgage origination production balances.

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Loans, net of unearned income. Average total loans, net of unearned income, totaled $44.8 billion and increased $4.4 billion, or 11%, in 2024. Average commercial loans totaled $14.1 billion in 2024, and increased $1.6 billion, or 13%, over the average balance in 2023. Average commercial real estate loans totaled $12.2 billion in 2024, increasing $1.5 billion, or 15%, since 2023. Combined, these categories comprised 59% and 57% of the average loan portfolio in 2024 and 2023, respectively. The growth realized in these categories for 2024 is primarily attributable to increased business development efforts during the period.

Home equity loans averaged $384.1 million in 2024, and increased $46.3 million, or 14%, when compared to the average balance in 2023. Unused commitments on home equity lines of credit totaled $999.1 million at December 31, 2024 and $845.6 million at December 31, 2023. The Company has been actively managing its home equity portfolio to ensure that diligent pricing, appraisal and other underwriting activities continue to exist. 

Residential real estate loans averaged $3.0 billion in 2024, and increased