Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 8

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 8
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  These deposits may flow into our banks as a source of low-cost deposits. CDEC is the subsidiary of Elektra Holding Company, LLC (“Elektra”), which was acquired by the Company in December of 2018. 

As of December 31, 2024, the Company’s wealth management subsidiaries had approximately $51.2 billion of assets under administration, which included $8.5 billion of assets owned by the Company and its subsidiary banks. For the years ended December 31, 2024, 2023 and 2022, the wealth management segment had net revenues of $198.1 million, $169.3 million and $162.9 million, respectively, and net income of $50.0 million, $33.0 million and $39.4 million, respectively. The wealth management segment had total assets of $1.1 billion, $1.2 billion and $1.8 billion as of December 31, 2024, 2023 and 2022, respectively. The wealth management segment accounted for 8.0% of our consolidated net revenues, excluding intersegment eliminations, for the year ended December 31, 2024. 

Strategy and Competition

6

The Company has employed certain strategies to achieve strong net income amid increased competition and an environment, that up until recent years, was characterized by low interest rates. In general, the Company has taken a steady and measured approach to grow strategically and manage expenses. Specifically, the Company has:

•Leveraged its internal loan pipeline and external growth opportunities to grow earnings assets to increase net interest income;

•Continued to diversify our loan portfolio by adding product and geographic diversification;

•Continued efforts to grow our deposit franchise in a diversified manner to be the Company’s primary funding source;

•Completed strategic acquisitions to expand our presence in existing and complimentary markets;

•Invested in our technology infrastructure to allow for growth and to enhance digital and other product offerings to better serve our existing customers and to attract new customers;

•Focused on cost control and leveraging our infrastructure to grow without a commensurate increase in operating expenses; and

•Expanded the Wintrust Asset Finance direct leasing niche.

Our strategy and competitive position for each of our business segments is summarized in further detail, below.

Community Banking

We compete in the commercial banking industry through our banks in the communities they serve. The commercial banking industry is highly competitive and the banks face strong direct competition for deposits, loans and other financial related services. The