Wintrust Financial Corp (WTFC) Tops Q2 EPS by 4c

Wintrust Financial Corp (NASDAQ: WTFC) reported Q2 EPS of $0.76, $0.04 better than the analyst estimate of $0.72.

Total loans, excluding covered loans and mortgage loans held-for-sale, increased by $617 million or 19%, on annualized basis, to $13.7 billion.

Edward J. Wehmer, President and Chief Executive Officer, commented, "Wintrust reported record net income for the second quarter of 2014, highlighted by significant loan and deposit growth, stable net interest margin, steady credit quality metrics, increased mortgage banking and wealth management revenues and effective expense control."

Mr. Wehmer continued, "The Company grew total loans, excluding covered loans and mortgage loans held-for-sale by $617 million in the second quarter, headlined by $292 million of growth in the commercial and commercial real-estate portfolios and $292 million of growth in the premium finance loan portfolios. The increase in loan volume drove higher net interest income in the current quarter. Additionally, net interest margin increased slightly as the loan growth was primarily funded by growth in non-interest bearing deposits which now account for 20% of our total deposits."

For earnings history and earnings-related data on Wintrust Financial Corp (WTFC) click here.

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