Company: WTFCN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001015328-25-000188
Chunk: 44

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 44
---
4FHLB advances$3,151,309 $3,151,309 $3,176,309 Other borrowings:Notes payable128,500 142,763 157,024 Secured borrowings440,558 334,934 391,395 Other56,334 57,106 58,160 Total other borrowings625,392 534,803 606,579 Subordinated notes298,458 298,283 298,113 Total FHLB advances, other borrowings and subordinated notes$4,075,159 $3,984,395 $4,081,001 Descriptions of the Company’s FHLB advances, other borrowings, and subordinated notes are included in Note (11) “Federal Home Loan Bank Advances,” Note (12) “Subordinated Notes” and Note (13) “Other Borrowings” of the 2024 Form 10-K.Notes PayableNotes payable balances represent the balances on the Company’s credit agreement with certain unaffiliated banks. At June 30, 2025, the outstanding principal balance under the term loan facility was $128.5 million and there was no outstanding balance under the revolving credit facility. Borrowings under notes payable are secured by pledges of and first priority perfected security interests in the Company’s equity interest in its bank subsidiaries and contain several restrictive covenants, including the maintenance of various capital adequacy levels, asset quality and profitability ratios, and certain restrictions on dividends and other indebtedness. At June 30, 2025, the Company was in compliance with all such covenants. 

26

Secured BorrowingsThe balance of secured borrowings primarily represents a third party Canadian transaction (“Canadian Secured Borrowing”). Under the Canadian Secured Borrowing, the Company, through its subsidiary, FIFC Canada, sells an undivided co-ownership interest in all receivables owed to FIFC Canada to an unrelated third party in exchange for cash payments pursuant to a receivables purchase agreement (“Receivables Purchase Agreement”). On August 29, 2024, the Company entered into the Twelfth Amending Agreement to the Receivables Purchase Agreement dated as of December 16, 2014. The amended Receivables Purchase Agreement provides for, among other things, an extension of the maturity date to December 15, 2025 and an increase to the facility limit from C$520 million to C$