Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 44

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 44
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 by evaluating model methodology, model performance and testing key modeling assumptions.  Additionally, we tested the accuracy of data utilized in the models by agreeing key data fields to source documentation and performed targeted re-calculations for a sample of models.To test the reasonable and supportable economic forecasts, our audit procedures included among others, evaluating the basis of the economic forecast factors utilized by management and testing the completeness and accuracy of data used by management to develop the economic forecasts.To test the qualitative factors, among other procedures, we assessed management’s methodology and considered whether relevant risks were reflected in the models and whether qualitative adjustments to the model outputs were appropriate. We tested the completeness, accuracy and relevance of the underlying data used to estimate the qualitative factors. We evaluated whether qualitative factors were reasonable based on changes in economic conditions and the composition of the loan portfolio.In addition, we evaluated the overall ACL and whether the ACL appropriately reflects expected lifetime losses in the loan portfolio as of the consolidated balance sheet date. For example, we compared the overall ACL amount to those established by similar banking institutions with similar loan portfolios.

/s/ Ernst & Young LLP

We have served as the Company’s auditor since 1999.

Chicago, Illinois

February 28, 2025

97

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CONDITION

December 31,(In thousands, except shares and per share amounts)20242023AssetsCash and due from banks$452,017 $423,404 Federal funds sold and securities purchased under resale agreements6,519 60 Interest-bearing deposits with banks4,409,753 2,084,323 Available-for-sale securities, at fair value4,141,482 3,502,915 Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $457 and $347 at December 31, 2024 and December 31, 2023, respectively ($2.9 billion and $3.2 billion fair value at December 31, 2024 and December 31, 2023, respectively)3,613,263 3,856,916 Trading account securities4,072 4,707 Equity securities with readily determinable fair value215,412 139,268 Federal Home Loan Bank and Federal Reserve Bank stock281,407 205,003 Brokerage customer receivables18,102 10,592 Mortgage loans held-for-sale, at fair value