Wintrust Financial Corporation · NASDAQ:WTFC
Wintrust Financial — Q4 2019 Earnings Presentation
13 slides from Wintrust Financial's earnings presentation, Jan 22, 2020
Slide 1: Wintrust Financial Corporation Earnings Release Presentation Q4 2019
Wintrust Financial Corporation Earnings Release Presentation Q4 2019
Slide 2: Q4 2019 Highlights
Q4 2019 Highlights Performance Highlights vs. Q3 2019 Expansion Activity (Q4 2019) • Completed the previously announced acquisition of SBC, Incorporated, the $86.0 million -$13.2 million parent company of Countryside Bank. Net Income Net Income • Completed the previously announced acquisition of STC
Slide 3: Earnings Summary
Earnings Summary Condensed Income Statement Current Q Difference vs. Current Q Net Income & ROA ($ in Millions) Thousands ($) Q4 2019 Q3 2019 Q4 2018 $99.1 Net Interest Income $261,879 $(2,973) $7,791 $89.1 $86.0 $79.7 $81.5 Non-Interest Income $112,220 $(2,917) $36,912 Net Revenue $374,099 $(5,890)
Slide 4: Year-to-Date 2019 Highlights
Year-to-Date ("YTD") 2019 Highlights Difference vs. Prior Performance Highlights Condensed Income Statement Current YTD vs. 12/31/2018 YTD Year YTD (12/31/2019 YTD) Thousands ($) 12/31/2019 12/31/2018 Net Interest Income $1,054,919 $90,016 $355.7 million +$12.5 million Non-Interest Income $407,172 $
Slide 5: Loan Portfolio
Loan Portfolio Key Observations Total Loans ($ in Billions) • Total loans increased $1.1 billion from the prior quarter-end and $3.0 Year-over-Year Change billion as compared to the end of Q4 2018. $3.0B or 13% $26.8 $25.3 $25.7 • Q4 2019 loan growth included $164 million from the acquisition of $24
Slide 6: Deposit Portfolio
Deposit Portfolio Key Observations Total Deposits ($ in Billions) • Total deposits increased by $1.4 billion from the prior quarter-end. The Year-over-Year Change $4.0B or 15% total deposit growth was net of a reduction of $201 million in brokered $30.1 deposits to optimize our funding base. Non-bro
Slide 7: Net Interest Margin
Net Interest Margin 4.74% 4.74% 4.58% 4.53% 4.25% Net Interest Margin (Quarterly Trends) Net Interest Margin, Fully Taxable-Equivalent (Non-GAAP1) 3.63% 3.72% 3.64% 4.74% 4.74% 3.39% 4.58% 4.53% 3.19% 4.25% 3.39% 3.63% 3.72% 3.64% 3.70% 3.39% 3.61% 3.62% 3.19% 0.11% 3.37% 3.17% (0.03)% 3.19% 1.51% 1
Slide 8: Credit Quality
Credit Quality Non-Performing Loans ("NPLs") ($ in Millions) Net Charge-Offs ("NCOs") ($ in Millions) 0.36% $113.2 $117.6 $113.4 $114.3 $117.6 $22.3 0.19% 0.48% 0.49% 0.15% 0.12% $12.7 0.45% 0.09% 0.44% 0.44% $9.4 $7.2 $5.1 12/31/2018 3/31/2019 6/30/2019 9/30/2019 12/31/2019 Q4 2018 Q1 2019 Q2 2019
Slide 9: Non-Interest Income
Non-Interest Income Non-Interest Income ($ in Millions) Operating Lease Income, Net ($ in Millions) $12.5 $115.1 $112.2 $11.7 $12.0 $98.2 $18.2 $15.8 $10.9 $10.8 $81.7 $15.7 $10.0 $11.0 $75.3 $9.3 $12.0 $12.5 $8.4 $19.9 $11.7 $9.1 $8.8 $233.2 $10.9 $50.9 $47.9 $231.2 $10.8 $37.4 $230.1 $24.2 $18.2 $
Slide 10: Mortgage Banking
Mortgage Banking Production Revenue ($ in Millions) MSR1 Value and Loans Serviced for Others ($ in Millions) $50.9 $40.9 $0.1 $47.9 $8,243 MSR - Payoffs/ $7,901 LOGIC IN $14.0 Paydowns $34.6 $7,515 $37.4 $14.5 $29.9 $7,014 $7.2 MSR - Change in $0.9 Fair Value Model $6,546 $85.6 MORTGAGE $9.8 $24.2 $
Slide 11: Non-Interest Expense
Non-Interest Expense Trending Non-Interest Expense ($ in Millions) Expense Management Ratios $249.6 1.79% $229.6 $234.6 1.72% $34.5 Salaries and $211.3 $214.4 $28.5 Employee Benefits 1.64% $33.2 $7.6 $6.5 $7.7 $26.1 $29.4 $6.2 $8.0 $9.8 Equipment 1.53% $8.4 $7.5 $6.2 $8.9 $12.5 $5.6 $8.8 $13.4 $9.3
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended Years Ended Reconciliation of Non-GAAP Net December 31, September 30, June 30, March 31, December 31, December 31, December 31, Interest Margin and Efficiency Ratio: 2019 2019 2019 2019 2018 2019 2018 (A) Interest Income (GAAP) $ 349,731 $ 354,627 $ 346,814
Slide 13: Forward-Looking Statements
Forward-Looking Statements This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possi