Company: WTFCN
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001015328-25-000130
Chunk: 37

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 37
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 such repurchase, any MSR value related to such loans is derecognized.The MSR asset fair value is determined by using a discounted cash flow model that incorporates the objective characteristics of the portfolio as well as subjective valuation parameters that purchasers of servicing would apply to such portfolios sold into the secondary market. The subjective factors include loan prepayment speeds, discount rates, servicing costs and other economic factors. The Company uses a third party to assist in the valuation of MSRs. Periodically, the Company will purchase options for the right to purchase securities not currently held within the banks’ investment portfolios or enter into interest rate swaps in which the Company elects not to designate such derivatives as hedging instruments. These option and swap transactions are designed primarily to economically hedge a portion of the fair value adjustments related to the Company’s MSRs. The gain or loss associated with these derivative contracts is included in mortgage banking revenue. For more information regarding these hedges outstanding as of March 31, 2025 and March 31, 2024, see Note (14) “Derivative Financial Instruments” in Item 1 of this report.

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(10) Deposits

The following table is a summary of deposits as of the dates shown: (Dollars in thousands)March 31,2025December 31,2024March 31,2024Balance:Non-interest-bearing$11,201,859 $11,410,018 $9,908,183 NOW and interest-bearing demand deposits6,340,168 5,865,546 5,720,947 Wealth management deposits1,408,790 1,469,064 1,347,817 Money market18,074,733 17,975,191 15,617,717 Savings6,576,251 6,372,499 5,959,774 Time certificates of deposit9,968,237 9,420,031 7,894,420 Total deposits$53,570,038 $52,512,349 $46,448,858 Mix:Non-interest-bearing21 %22 %21 %NOW and interest-bearing demand deposits12 11 12 Wealth management deposits3 3 3 Money market34 34 34 Savings12 12 13 Time certificates of deposit18 18 17 Total deposits100 %100 %100 %Wealth management deposits represent deposit balances (primarily