Wintrust Financial (WTFC) Raymond James & Associates’ 46th Annual Institutional Investors Conference 2025 summary

Market positioning and growth strategy

• Holds a leading position as the largest locally headquartered bank in Chicago, with a $65 billion asset base and a $9 billion market cap.

• Operates a diversified business model, including specialty lending, premium finance, leasing, and franchise lending across the U.S. and Canada.

• Recent acquisition of Macatawa Bank in West Michigan is progressing well, providing new growth opportunities and a strong cultural fit.

• Focuses on organic growth but remains open to M&A if deals are strategically, culturally, and financially sound.

• Sees potential for further expansion in Northwest Indiana and other nearby markets through de novo branches or acquisitions.

Loan growth, competition, and credit trends

• Maintains guidance for mid to high single-digit loan growth in 2025, supported by strong pipelines and niche businesses.

• Competition remains manageable, with some increased activity from non-bank and private credit lenders, especially in larger, more leveraged deals.

• Premium finance business remains robust, benefiting from industry consolidation and a firm insurance market.

• Commercial real estate exposure is limited to granular, mostly suburban office loans, avoiding riskier downtown high-rise lending.

• Credit quality has stabilized, with net charge-offs at 21 basis points last year and improved outlook compared to the prior year.

Deposit trends, net interest margin, and expense management

• Deposit competition is rational, with stable market share and a consistent mix of non-interest-bearing deposits at around 21%.

• Net interest margin is expected to remain stable at approximately 3.50%, supported by a variable balance sheet and interest rate swaps.

• New business is being booked at spreads consistent with the overall margin target.

• Operating expenses are projected to grow at a mid-single-digit rate, with a focus on maintaining operating leverage through revenue growth.