Wintrust Financial Corporation · NASDAQ:WTFC
Wintrust Financial — Q3 2019 Earnings Presentation
13 slides from Wintrust Financial's earnings presentation, Oct 17, 2019
Slide 1: Wintrust Financial Corporation Earnings Release Presentation Q3 2019
Wintrust Financial Corporation Earnings Release Presentation Q3 2019
Slide 2: Q3 2019 Highlights
Q3 2019 Highlights Performance Highlights vs. Q2 2019 Expansion Activity (Q3 2019) • Announced an agreement to acquire SBC, Incorporated, the parent company of Countryside Bank, which is expected to close in the fourth $99.1 million +$17.7 million quarter of 2019. Countryside Bank had approximately
Slide 3: Earnings Summary
Earnings Summary Condensed Income Statement Current Q Difference vs. Current Q Net Income & ROA ($ in Millions) Thousands ($) Q3 2019 Q2 2019 Q3 2018 $99.1 Net Interest Income $264,852 $(1,350) $17,289 $91.9 $89.1 $79.7 $81.5 Non-Interest Income $115,137 $16,979 $15,207 Net Revenue $379,989 $15,629
Slide 4: Year-to-Date 2019 Highlights
Year-to-Date ("YTD") 2019 Highlights Difference vs. Prior Performance Highlights Condensed Income Statement Current YTD vs. 9/30/2018 YTD Year YTD (9/30/2019 YTD) Thousands ($) 9/30/2019 9/30/2018 Net Interest Income $793,040 $82,225 $269.7 million +$6.2 million Non-Interest Income $294,952 $14,110
Slide 5: Loan Portfolio
Loan Portfolio Key Observations Total Loans ($ in Billions) • Total loans increased $406 million from the prior quarter-end and $2.6 Year-over-Year Change $2.6B or 11% billion as compared to the end of Q3 2018 $25.7 $25.3 $24.2 • Loan growth during Q3 2019 was strongest in Premium Finance $23.8 Rece
Slide 6: Deposit Portfolio
Deposit Portfolio Key Observations Total Deposits ($ in Billions) • Total deposits increased by $1.2 billion from the prior quarter- Year-over-Year Change $3.8B or 15% end. The total deposit growth was net of a $552 million reduction $28.7 in brokered deposits. Non-brokered deposits now comprise $26
Slide 7: Net Interest Margin
Net Interest Margin 4.74% 4.74% 4.58% 4.53% 4.45% 1 Net Interest Margin (Quarterly Trends) Net Interest Margin, Fully Taxable-Equivalent (Non-GAAP ) 3.72% 3.61% 3.63% 3.64% 4.74% 4.74% 3.39% 4.58% 4.45% 4.53% 3.64% 3.61% 3.63% 3.72% 3.64% 3.39% 3.59% 3.61% 3.70% 3.62% 3.37% 0.01% (0.21)% 3.39% (0.05
Slide 8: Credit Quality
Credit Quality Non-Performing Loans ("NPLs") ($ in Millions) Net Charge-Offs ("NCOs") ($ in Millions) $127.2 0.36% $113.2 $117.6 $113.4 $114.3 0.55% $22.3 0.49% 0.15% 0.48% 0.12% 0.45% 0.09% 0.44% 0.08% $9.4 $7.2 $4.7 $5.1 9/30/2018 12/31/2018 3/31/2019 6/30/2019 9/30/2019 Q3 2018 Q4 2018 Q1 2019 Q2
Slide 9: Non-Interest Income
Non-Interest Income Non-Interest Income ($ in Millions) Operating Lease Income, Net ($ in Millions) $11.7 $12.0 $115.1 $10.9 $10.8 $99.9 $98.2 $18.2 $9.1 $16.9 $81.7 $15.7 $10.0 $75.3 $9.3 $9.3 $12.0 $233.2 $9.1 $8.4 $19.9 $11.7 $230.1 $228.6 $9.1 $8.8 $224.2 $10.9 $50.9 $42.0 $10.8 $37.4 $24.2 $18.
Slide 10: Mortgage Banking
Mortgage Banking Mortgage Banking Revenue ($ in Millions) MSR1 Value and Loans Serviced for Others ($ in Millions) $50.9 $0.1 MSR - Payoffs/ $7,901 LOGIC IN $14.0 Paydowns $7,515 $37.4 $7,014 $42.0 $5.4 MSR - Change in $0.9 Fair Value Model $6,546 MORTGAGE $9.8 $11.3 $24.2 Assumptions $5,904 BANKING
Slide 11: Non-Interest Expense
Non-Interest Expense Trending Non-Interest Expense ($ in Millions) Expense Management Ratios $229.6 $234.6 1.79% Salaries and 1.72% $213.6 $211.3 $214.4 $28.5 $33.2 Employee Benefits $6.5 1.64% $26.8 $26.1 $29.4 $6.2 $8.0 $6.2 $8.9 Equipment $9.3 $8.4 $7.5 $5.6 $8.8 $13.4 1.53% $9.9 $9.3 $8.3 $12.8
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended Nine Months Ended Reconciliation of Non-GAAP Net September 30, June 30, March 31, December 31, September 30, September 30, September 30, Interest Margin and Efficiency Ratio: 2019 2019 2019 2018 2018 2019 2018 (A) Interest Income (GAAP) $ 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