Wintrust Financial Corporation Announces Redemption of All Outstanding Series D and Series E Preferred Stock and Related Depositary Shares

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[{"type":"text","content":"ROSEMONT, Ill., June 13, 2025 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust”) (Nasdaq: WTFC) today announced that on July 15, 2025 it will redeem (i) all of the 5,000,000 issued and outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (the “Series D Preferred Stock”) (Nasdaq: WTFCM), for a redemption price of $25.00 per share, and (ii) all of the 11,500 issued and outstanding shares of its 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E (the “Series E Preferred Stock”), and all of the related 11,500,000 issued and outstanding depositary shares (the “Depositary Shares”) (Nasdaq: WTFCP), each representing a 1/1,000th interest in a share of Series E Preferred Stock, for a redemption price of $25,000 per share of Series E Preferred Stock (or $25.00 per Depositary Share). The redemptions will be funded with a portion of the net proceeds from Wintrust’s previously disclosed public offering of depositary shares, each representing a 1/1,000th interest in a share of its 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F, which was completed on May 22, 2025. The Series D Preferred Stock and Series E Preferred Stock (and related Depositary Shares) will be redeemed on the upcoming dividend payment date of July 15, 2025 (the “Redemption Date”). On and after the Redemption Date, no shares of Series D Preferred Stock, Series E Preferred Stock or Depositary Shares will remain outstanding, and trading of the Series D Preferred Stock and Depositary Shares on the NASDAQ Stock Market will also cease. The regular quarterly dividends on the Series D Preferred Stock and the Series E Preferred Stock represented by the Depositary Shares will be paid separately on the Redemption Date to holders of record on July 1, 2025 for such dividend payment in the customary manner. Accordingly, the redemption price will not include any accrued and unpaid dividends. On and after the Redemption Date, all dividends on the Series D Preferred Stock and Series E Preferred Stock (and related Depositary Shares) will cease to accrue. The Series D Preferred Stock and the Depositary Shares are held only in book-entry form through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the applicable procedures of DTC. Payment to DTC for the Ser...

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