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Wintrust Financial reports 8% rise in Q3 net income YOY

Rosemont, Ill.-based Wintrust Financial Corp. reported third-quarter net income of $99.1 million, or $1.69 per share, up from $91.9 million, or $1.57 per share, in the year-ago period.

The S&P Global Market Intelligence consensus estimate for GAAP EPS for the most recent quarter was $1.61.

The bank's net revenue for the three months ended Sept. 30 was $380.0 million, up from $347.5 million a year earlier.

Total loans at the end of the third quarter, excluding mortgage loans held for sale, stood at $25.71 billion, compared to $25.30 billion at the end of the second quarter, and $23.12 billion at the end of the third quarter of 2018. Total deposits were $28.71 billion, compared to $27.52 billion at the end of the second quarter and $24.92 billion at the end of the third quarter of 2018.

The company's net interest margin was 3.37% during the third quarter, compared to 3.62% in the second quarter and 3.59% in the quarter ended Sept. 30, 2018. The company recognized total charge-offs of $11.2 million for the third quarter, compared to $23.8 million in the previous quarter and $7.0 million in the third quarter of 2018.