Company: WTFCN
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001015328-25-000130
Chunk: 41

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 41
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+3.007.55 %08/200311/203308/2008Town Bankshares Capital Trust I186 6,000 6,186 S+0.26161+3.007.55 %08/200311/203308/2008First Northwest Capital Trust I155 5,000 5,155 S+0.26161+3.007.56 %05/200405/203405/2009Suburban Illinois Capital Trust II464 15,000 15,464 S+0.26161+1.756.31 %12/200612/203612/2011Community Financial Shares Statutory Trust II109 3,500 3,609 S+0.26161+1.626.18 %06/200709/203706/2012Total$253,566 6.76 %(1)The interest rates on the variable rate junior subordinated debentures are based on the three-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) and reset on a quarterly basis.The junior subordinated debentures totaled $253.6 million at March 31, 2025, December 31, 2024 and March 31, 2024. At March 31, 2025, the weighted average contractual interest rate on the junior subordinated debentures was 6.76%.

(13) Segment Information 

The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the sixteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures, and economic characteristics.For purposes of internal segment profitability, management allocates certain intersegment and parent company balances.  Management allocates a portion of revenues to the specialty finance segment related to loans and leases originated by the specialty finance segment and sold or assigned to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management