Wintrust Financial reports record third-quarter net income of $239.1 million, up from $216.3 million

Wintrust Financial Corporation (WTFC) said Monday it earned record net income of $239.1 million in the third quarter of 2026, up 11% from a year earlier, according to a regulatory filing. The Rosemont, Illinois-based financial holding company reported the results in an earnings release attached to its Form 8-K.

Diluted earnings per share were $3.37, compared with $2.78 a year earlier and $3.30 in the second quarter. Net income rose from $233.7 million in the second quarter.

For the first nine months of 2026, net income was $700.1 million, or $9.89 per diluted common share, compared with $600.8 million, or $8.25 per diluted share, for the same period of 2025. That is an increase of 17%.

Here's how the company did:

• Net income: $239.1 million vs. $216.3 million a year earlier
• Diluted earnings per share: $3.37 vs. $2.78 a year earlier
• Net revenue: $757.9 million vs. $697.8 million a year earlier
• Pre-tax income, excluding provision for credit losses (non-GAAP): $352.2 million vs. $317.8 million a year earlier

Net revenue, the sum of net interest income and non-interest income, was $757.9 million, up from $738.6 million in the second quarter.

Pre-tax income excluding the provision for credit losses is a non-GAAP measure that adds the provision back to pre-tax income. It totaled $352.2 million, compared with $341.1 million in the second quarter. The company describes that figure as a record.

President and Chief Executive Officer Timothy S. Crane said, "Our strong momentum in the first half of the year continued into the third quarter, leading to consistent and record results for the first nine months of 2026." He added, "The third quarter of 2026 produced the seventh consecutive quarter of record net income for the Company."

Net interest income

Net interest income rose to $621.6 million, from $597.4 million in the second quarter and $567.0 million a year earlier. The filing attributes the increase to average earning asset growth of $2.1 billion.

Net interest margin was 3.49%, down one basis point from the second quarter. On a fully taxable-equivalent basis, a non-GAAP measure, the margin was 3.51%. The company said the margin was in line with its prior guidance.

Credit quality

The provision for credit losses was $25.9 million, up from $23.1 million in the second quarter. Net charge-offs totaled $21.0 million, or 15 basis points of average total loans on an annualized basis, compared with $13.4 million, or 10 basis points, in the second quarter.

Non-performing loans totaled $176.9 million, or 0.31% of total loans, at Sept. 30. That compares with $179.3 million, or 0.32%, at June 30. The allowance for credit losses rose to $486.1 million from $481.2 million.

Non-interest income and expense

Non-interest income was $136.3 million, down from $141.3 million in the second quarter and up from $130.8 million a year earlier. Mortgage banking revenue fell to $25.5 million from $27.4 million in the second quarter, which the company attributed to lower mortgage loan originations and related operational revenue. Wealth management revenue rose to $41.0 million from $39.9 million.

Non-interest expense totaled $405.7 million, up $8.1 million from $397.5 million in the second quarter and up from $380.0 million a year earlier. Advertising and marketing expense rose $1.4 million to $21.8 million. FDIC insurance expense rose to $12.1 million, which the company tied to a $5.2 million FDIC special assessment reversal recorded in the second quarter.

The efficiency ratio, which measures the cost of producing revenue, was 53.41%, compared with 53.96% in the second quarter. Income tax expense was $87.3 million, and the effective tax rate was 26.7%, compared with 26.5% in the second quarter.

Balance sheet and capital

Total loans reached $56.8 billion, up $1.1 billion in the quarter, or 8% annualized, and up 9% from a year earlier. Total deposits reached $62.4 billion, up $1.3 billion in the quarter and up 10% from a year earlier.

Tangible book value per common share was $88.18, down from $92.13 at June 30. The company's presentation attributes the decline mainly to a change in accumulated other comprehensive loss.

Acquisition and dividend

On Sept. 1, 2026, the company completed its purchase of a guardianship services business that it had previously announced. The business has about $1.2 billion in assets under management. The filing does not give the purchase price. The company preliminarily recorded goodwill of about $7.5 million as of Sept. 30, and the initial purchase accounting is not final.

Cash dividends declared were $0.55 per share, unchanged from the second quarter and up from $0.50 a year earlier.

Outlook

The company said it expects a stable net interest margin and balance sheet growth to produce strong net interest income growth through 2026, according to slides posted with the release.

Crane said, "We believe we are well-positioned to build on our strong momentum and deliver further revenue growth as we close out the year."

The company will hold a conference call on Oct. 20, 2026, at 10:00 a.m. Central time to discuss third-quarter and year-to-date results.