WINTRUST FINANCIAL CORPWTFC
WINTRUST FINANCIAL CORP Segments Disclosure
Segment Information
The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.
The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the sixteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures and economic characteristics.
For purposes of internal segment profitability, management allocates certain intersegment and parent company balances. Management allocates a portion of revenues to the specialty finance segment related to loans and leases originated by the specialty finance segment and sold or assigned to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note (10) “Deposits” for more information on these deposits. Finally, expenses incurred at the Wintrust parent company are allocated to each segment based on each segment’s risk-weighted assets.
The segment financial information provided in the following tables has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are substantially similar to those described in Note (1) “Summary of Significant Accounting Policies”.
Our Chief Executive Officer is our chief operating decision maker (“CODM”). The CODM uses income before taxes to review segment performance and allocate resources for each reportable segment. Financial information regarding each significant segment expense outlined below is regularly provided (at least monthly) to the CODM. For community banking and specialty finance segments, ‘Interest expense’ is a significant segment expense. Additionally, for each of the three reportable segments, ‘Salaries’, ‘Commissions and incentive compensation’ and ‘Benefits’ are significant segment expenses.
The following is a summary of certain operating information for reportable segments:
(In thousands) | Community Banking | Specialty Finance | Wealth Management | Total Operating Segments | Intersegment Eliminations | Consolidated | ||||||||||||||||||||||||||||||||
| 2025 | ||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 3,223,220 | $ | 420,528 | $ | 38,147 | $ | 3,681,895 | $ | 46,138 | $ | 3,728,033 | ||||||||||||||||||||||||||
| Interest expense | 1,462,186 | 41,131 | 664 | 1,503,981 | — | 1,503,981 | ||||||||||||||||||||||||||||||||
| Net interest income | 1,761,034 | 379,397 | 37,483 | 2,177,914 | 46,138 | 2,224,052 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 89,050 | 6,503 | — | 95,553 | — | 95,553 | ||||||||||||||||||||||||||||||||
| Non-interest income | 310,981 | 129,713 | 154,387 | 595,081 | (93,141) | 501,940 | ||||||||||||||||||||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||||||||||||||||||
| Salaries | 390,817 | 64,829 | 38,966 | 494,612 | 1,958 | 496,570 | ||||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 133,733 | 38,911 | 49,124 | 221,768 | — | 221,768 | ||||||||||||||||||||||||||||||||
| Benefits | 122,421 | 22,167 | 10,366 | 154,954 | — | 154,954 | ||||||||||||||||||||||||||||||||
Other segment expenses (1) | 553,208 | 96,812 | 37,681 | 687,701 | (48,961) | 638,740 | ||||||||||||||||||||||||||||||||
| Total non-interest expense | 1,200,179 | 222,719 | 136,137 | 1,559,035 | (47,003) | 1,512,032 | ||||||||||||||||||||||||||||||||
| Income before taxes | 782,786 | 279,888 | 55,733 | 1,118,407 | — | 1,118,407 | ||||||||||||||||||||||||||||||||
| Income tax expense | 206,119 | 74,589 | 13,855 | 294,563 | — | 294,563 | ||||||||||||||||||||||||||||||||
| Net income | $ | 576,667 | $ | 205,299 | $ | 41,878 | $ | 823,844 | $ | — | $ | 823,844 | ||||||||||||||||||||||||||
| Total assets at end of year | $ | 57,333,741 | $ | 12,502,367 | $ | 1,305,938 | $ | 71,142,046 | $ | — | $ | 71,142,046 | ||||||||||||||||||||||||||
| 2024 | ||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 3,001,500 | $ | 405,317 | $ | 30,765 | $ | 3,437,582 | $ | 40,015 | $ | 3,477,597 | ||||||||||||||||||||||||||
| Interest expense | 1,465,237 | 49,030 | 795 | 1,515,062 | — | 1,515,062 | ||||||||||||||||||||||||||||||||
| Net interest income | 1,536,263 | 356,287 | 29,970 | 1,922,520 | 40,015 | 1,962,535 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 88,345 | 12,702 | — | 101,047 | — | 101,047 | ||||||||||||||||||||||||||||||||
| Non-interest income | 279,845 | 119,339 | 168,134 | 567,318 | (78,993) | 488,325 | ||||||||||||||||||||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||||||||||||||||||
| Salaries | 364,144 | 61,070 | 38,989 | 464,203 | 1,769 | 465,972 | ||||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 130,516 | 36,130 | 48,873 | 215,519 | — | 215,519 | ||||||||||||||||||||||||||||||||
| Benefits | 106,994 | 18,686 | 9,937 | 135,617 | — | 135,617 | ||||||||||||||||||||||||||||||||
Other segment expenses (1) | 500,327 | 91,479 | 34,557 | 626,363 | (40,747) | 585,616 | ||||||||||||||||||||||||||||||||
| Total non-interest expense | 1,101,981 | 207,365 | 132,356 | 1,441,702 | (38,978) | 1,402,724 | ||||||||||||||||||||||||||||||||
| Income before taxes | 625,782 | 255,559 | 65,748 | 947,089 | — | 947,089 | ||||||||||||||||||||||||||||||||
| Income tax expense | 167,072 | 69,214 | 15,758 | 252,044 | — | 252,044 | ||||||||||||||||||||||||||||||||
| Net income | $ | 458,710 | $ | 186,345 | $ | 49,990 | $ | 695,045 | $ | — | $ | 695,045 | ||||||||||||||||||||||||||
| Total assets at end of year | $ | 52,500,643 | $ | 11,234,012 | $ | 1,145,013 | $ | 64,879,668 | $ | — | $ | 64,879,668 | ||||||||||||||||||||||||||
| 2023 | ||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 2,462,103 | $ | 362,035 | $ | 33,867 | $ | 2,858,005 | $ | 35,109 | $ | 2,893,114 | ||||||||||||||||||||||||||
| Interest expense | 1,021,128 | 32,991 | 1,131 | 1,055,250 | — | 1,055,250 | ||||||||||||||||||||||||||||||||
| Net interest income | 1,440,975 | 329,044 | 32,736 | 1,802,755 | 35,109 | 1,837,864 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 104,895 | 9,495 | — | 114,390 | — | 114,390 | ||||||||||||||||||||||||||||||||
| Non-interest income | 263,023 | 105,992 | 136,561 | 505,576 | (71,470) | 434,106 | ||||||||||||||||||||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||||||||||||||||||
| Salaries | 340,993 | 57,024 | 39,129 | 437,146 | 1,666 | 438,812 | ||||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 110,986 | 30,395 | 40,720 | 182,101 | — | 182,101 | ||||||||||||||||||||||||||||||||
| Benefits | 100,190 | 17,070 | 9,840 | 127,100 | — | 127,100 | ||||||||||||||||||||||||||||||||
Other segment expenses (1) | 484,263 | 82,024 | 36,226 | 602,513 | (38,027) | 564,486 | ||||||||||||||||||||||||||||||||
| Total non-interest expense | 1,036,432 | 186,513 | 125,915 | 1,348,860 | (36,361) | 1,312,499 | ||||||||||||||||||||||||||||||||
| Income before taxes | 562,671 | 239,028 | 43,382 | 845,081 | — | 845,081 | ||||||||||||||||||||||||||||||||
| Income tax expense | 148,612 | 63,484 | 10,359 | 222,455 | — | 222,455 | ||||||||||||||||||||||||||||||||
| Net income | $ | 414,059 | $ | 175,544 | $ | 33,023 | $ | 622,626 | $ | — | $ | 622,626 | ||||||||||||||||||||||||||
| Total assets at end of year | $ | 44,355,786 | $ | 10,664,887 | $ | 1,239,261 | $ | 56,259,934 | $ | — | $ | 56,259,934 | ||||||||||||||||||||||||||
(1)Other segment items include non-interest expense categories such as ‘Software & Equipment’, ‘Data processing’, ‘Advertising and Marketing’, ‘FDIC Insurance’, and ‘Occupancy’. See “Non-Interest Expense” under Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 7 of this Annual Report on Form 10-K for further discussion on non-interest expense.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 29, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.