Wintrust Financial (WTFC) Q4 2024 earnings summary

Executive summary

• Achieved record full-year net income of $695 million for 2024, up 11.5–12% year-over-year, with Q4 net income of $185.4 million and diluted EPS of $10.31.

• Pre-tax, pre-provision income (non-GAAP) reached $1.05 billion for 2024 and $270.1 million in Q4, both records.

• Strong organic loan and deposit growth, further boosted by the Macatawa Bank acquisition, expanding the geographic footprint.

• Tangible book value per share (non-GAAP) increased to $75.39, continuing a multi-year growth streak.

• Maintained a stable net interest margin of 3.51% in Q4, with expectations for continued stability into 2025.

Financial highlights

• Net interest income for 2024 reached $2.0 billion, up 7% year-over-year, with Q4 net interest income at $525.1 million, up 4–4.5% sequentially and nearly 12% year-over-year.

• Total loans grew to $48.1 billion (+15% year-over-year), and total deposits to $52.5 billion (+14% year-over-year).

• Non-interest income remained stable at $113–113.5 million in Q4, with gains in wealth management and mortgage offset by security and FX losses.

• Non-interest expenses increased $7.9 million sequentially in Q4, mainly due to the Macatawa Bank acquisition and IT investments.

• Efficiency ratio (non-GAAP) improved to 57.18% in Q4 2024, down 142 bps sequentially.

Outlook and guidance

• Expecting mid to high single-digit loan growth in 2025, with expense growth targeted below that rate.

• Net interest margin projected to remain around 3.5% throughout 2025, assuming a stable rate environment.

• Optimism for continued profitable growth, supported by strong pipelines and recent market expansions.

• CET1 capital growth expected to remain steady, supporting further expansion.

• Focus remains on organic growth, disciplined expense control, and maintaining strong credit standards.