Wintrust Financial Corp.: Q2 FY2026 earnings call

What management said about Q2 FY2026, from the documents filed with the SEC on 20 July 2026: press release. The quarter’s numbers.

Key takeaways

Net income set another record: Second-quarter net income was $233.7 million, or $3.30 per diluted share, up from $227.4 million, or $3.22, in the first quarter. Source
First-half net income up 20%: Six-month net income was $461.1 million, or $6.52 per diluted share, against $384.6 million, or $5.47, a year earlier. Source
Loans grew 12% annualized: Total loans rose $1.6 billion to $55.65 billion, with growth spread across all major loan categories and seasonally higher growth in premium finance property and casualty receivables. Source
Net interest income rose on asset growth: Net interest income was $597.4 million, against $579.0 million in the first quarter, driven by average earning asset growth of $2.1 billion. Source
Margin narrowed four basis points: Net interest margin was 3.50%, or 3.52% fully taxable-equivalent, down four basis points. Earning asset yield fell four basis points, mainly on a seven basis point drop in loan yields. Source
Provision eased to $23.1 million: Provision for credit losses was $23.1 million, against $29.6 million in the first quarter. Management said it reflects stable credit quality and a mostly stable macroeconomic forecast. Source
Net charge-offs fell to 10 basis points: Net charge-offs were $13.4 million, or 10 basis points of average loans annualized, down from $18.4 million, or 14 basis points, in the first quarter. Source
Non-interest expense rose $14.9 million: Non-interest expense was $397.5 million, against $382.6 million. As a percent of average assets it held at 2.21%. Source

“We are pleased to deliver record results for the first six months of the year.”
Timothy S. Crane, President and Chief Executive Officer

What changed from last quarter

New guidance: Management said growth in net interest income and prudent expense management position the company to deliver positive operating leverage for 2026. The prior release did not include this statement. Source
New guidance: Management said it believes consistent balance sheet growth and a stable margin would produce net interest income expansion in future quarters. The prior release did not include this expectation. Source

Record quarterly and first-half earnings

Net income set another record: Second-quarter net income was $233.7 million, or $3.30 per diluted share, up from $227.4 million, or $3.22, in the first quarter. Source
First-half net income up 20%: Six-month net income was $461.1 million, or $6.52 per diluted share, against $384.6 million, or $5.47, a year earlier. Source
Pre-tax pre-provision income at record: Pre-tax, pre-provision income (non-GAAP) was $341.1 million in the second quarter, against $330.5 million in the first quarter; the first half totaled $671.6 million. Source

Balance sheet and loan growth

Loans grew 12% annualized: Total loans rose $1.6 billion to $55.65 billion, with growth spread across all major loan categories and seasonally higher growth in premium finance property and casualty receivables. Source
Deposits grew 15% annualized: Deposits rose $2.2 billion to $61.14 billion. Non-interest-bearing balances were 19% of deposits, and the loans-to-deposits ratio ended the quarter at 91.0%. Source
Total assets up $2.5 billion: Total assets reached $74.67 billion at June 30, 2026, up $2.5 billion from March 31, 2026, with total liabilities up $2.4 billion. Source

“We continue to leverage our customer relationships and unique market positioning to grow the balance sheet and create long term franchise value.”
Timothy S. Crane, President and Chief Executive Officer

Net interest income and margin

Net interest income rose on asset growth: Net interest income was $597.4 million, against $579.0 million in the first quarter, driven by average earning asset growth of $2.1 billion. Source
Margin narrowed four basis points: Net interest margin was 3.50%, or 3.52% fully taxable-equivalent, down four basis points. Earning asset yield fell four basis points, mainly on a seven basis point drop in loan yields. Source
Deposit funding cost held flat: Funding cost on interest-bearing deposits was unchanged from the first quarter, and the net free funds contribution was flat. Source

Credit quality and provision

Provision eased to $23.1 million: Provision for credit losses was $23.1 million, against $29.6 million in the first quarter. Management said it reflects stable credit quality and a mostly stable macroeconomic forecast. Source
Net charge-offs fell to 10 basis points: Net charge-offs were $13.4 million, or 10 basis points of average loans annualized, down from $18.4 million, or 14 basis points, in the first quarter. Source
Allowance rose to $481.2 million: Allowance for credit losses was $481.2 million at June 30, 2026, up from $471.6 million at March 31, 2026. Source
Non-performing balances stable quarter-on-quarter: Non-performing assets were $195.2 million, or 0.26% of total assets, against $200.2 million. Non-performing loans were $179.3 million, or 0.32% of total loans, against $182.7 million. Source

Non-interest income by line

Non-interest income up $7.1 million: Non-interest income was $141.3 million, against $134.1 million in the first quarter. Investment securities produced $1.8 million of net gains, after a $31,000 net loss in the first quarter. Source
Mortgage banking revenue rose $4.0 million: Mortgage banking revenue was $27.4 million, against $23.4 million. Management attributed the increase primarily to higher operational revenue. Source
Wealth management revenue dipped: Wealth management revenue of $39.9 million fell about $2.2 million, mainly because first-quarter performance-based revenues on certain relationships did not recur. Assets under administration were $49.7 billion. Source

Non-interest expense drivers

Non-interest expense rose $14.9 million: Non-interest expense was $397.5 million, against $382.6 million. As a percent of average assets it held at 2.21%. Source
Salaries rose with mortgage volume: Salaries and employee benefits rose $5.6 million, mainly on higher commissions tied to mortgage originations and a full quarter of annual merit increases. Source
Marketing spend rose on sponsorships: Advertising and marketing was $20.4 million, up $7.2 million, driven by summer sports and community sponsorship events. Management noted these costs are generally elevated in the second and third quarters. Source
FDIC expense reduced by reversal: FDIC insurance was $6.6 million, down $4.4 million, reflecting a $5.2 million reversal of a special assessment accrued in the first quarter of 2024 after the FDIC's final loss determination. Source

Capital, book value and tax

CET1 ratio 10.4%, estimated: Common equity tier 1 ratio was 10.4%, unchanged from the first quarter. Total capital ratio was 12.4%, down from 12.6%. Management noted current quarter-end capital ratios are estimated. Source
Tangible book value per share rose: Tangible book value per common share was $92.13, up from $89.90. Book value per common share was $105.26, up from $103.10. Source
Quarterly dividend held at $0.55: Cash dividends declared were $0.55 per common share, unchanged from the first quarter and up from $0.50 a year earlier. Source
Effective tax rate rose to 26.5%: The effective tax rate was 26.5%, against 24.4% in the first quarter. Net excess tax benefits from share-based compensation were $140,000, against $6.6 million. Source

Originations and leasing volumes

Total originations rose to $1.15 billion: Total mortgage originations were $1.15 billion, against $965.5 million in the first quarter. Originations for sale were $835.0 million. Source
Premium finance originations reached $5.8 billion: Originations within premium finance portfolios were about $5.8 billion, against $5.1 billion in the first quarter. Average balances rose $361.6 million. Source
Leasing balances increased: Capital leases were $3.1 billion, loans $1.2 billion and operating lease equipment $363.7 million at June 30, 2026, against $3.0 billion, $1.2 billion and $362.8 million at March 31. Source

Coming up, as management said on 20 July 2026

Commercial pipelines point to Q3 loan growth: Commercial and commercial real estate loan pipelines at June 30 indicated expected continued loan growth in the third quarter of 2026. Source

Figures management reported

Figure	Reported
Net interest margin Source	3.50% (3.52% fully taxable-equivalent)
Net interest income Source	$597.4 million
Loans Source	$55.65 billion
Deposits Source	$61.14 billion
Deposit costs Source	2.74% on interest-bearing deposits
Provision for credit losses Source	$23.1 million
Net charge-offs Source	$13.4 million (10 basis points annualized)
Nonperforming assets Source	$195.2 million (0.26% of total assets)
CET1 ratio Source	10.4% (estimated)
Efficiency ratio Source	53.96%

Risks management discussed

Financial: Management said future losses could significantly exceed the amounts provided for in the allowance, which would affect future results. Source
External: Management said allowance results capture uncertainty tied to credit spreads, equity valuations, business and consumer sentiment, and the job market, because future economic performance remains uncertain. Source
Financial: Net interest income is exposed to rate moves on variable-rate loans; management has used derivatives to hedge those exposures and may add more. Source

Earlier plans management reported on

Met: Management said the net interest margin remained within its expected range in the second quarter. Source
Not stated: The prior release expected sustained balance sheet growth. This release reports loans up 12% and deposits up 15% annualized, with no status stated against that expectation.

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

Wintrust Financial Corporation

9700 W. Higgins Road, Suite 800, Rosemont, Illinois 60018

FOR MORE INFORMATION CONTACT:

David A. Dykstra, Vice Chairman & Chief Operating Officer

(847) 939-9000

Amy Yuhn, Executive Vice President, Communications

(847) 939-9591

Web site address: www.wintrust.com

Wintrust Financial Corporation Reports Record Net Income

ROSEMONT, ILLINOIS - Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced record net income of $461.1 million, or $6.52 per diluted common share, for the first six months of 2026 compared to net income of $384.6 million, or $5.47 per diluted common share, for the same period of 2025. This represents a year-to-date net income increase of 20% compared to the same period of 2025. Pre-tax, pre-provision income (non-GAAP) for the first six months of the year totaled a record $671.6 million, compared to $566.3 million for the first six months of 2025.

The Company reported record quarterly net income of $233.7 million, or $3.30 per diluted common share, for the second quarter of 2026, compared to net income of $227.4 million, or $3.22 per diluted common share, for the first quarter of 2026. Pre-tax, pre-provision income (non-GAAP) for the second quarter of 2026 totaled a record $341.1 million, as compared to $330.5 million for the first quarter of 2026.

Timothy S. Crane, President and Chief Executive Officer, commented, “We are pleased to deliver record results for the first six months of the year. Second quarter 2026 represents the sixth consecutive quarter of record net income for the Company. Strong diversified loan growth funded by robust organic deposit growth highlights the underlying strength of our business model. We continue to leverage our customer relationships and unique market positioning to grow the balance sheet and create long term franchise value.”

Additionally, Mr. Crane noted, “Net interest margin in the second quarter remained within our expected range at 3.52% and we generated record net interest income attributable to strong average earning asset growth. Building on our momentum, we believe consistent balance sheet growth, coupled with a stable net interest margin, should result in net interest income expansion in future quarters.”

Highlights of the second quarter of 2026:

Comparative information to the first quarter of 2026, unless otherwise noted

Total loans increased by $1.6 billion, or 12% annualized.
Total deposits increased by $2.2 billion, or 15% annualized.
Total assets increased by $2.5 billion, or 14% annualized.
Net interest income increased to $597.4 million in the second quarter of 2026, compared to $579.0 million in the first quarter of 2026, driven by robust average earning asset growth.
Net interest margin decreased to 3.50% (3.52% on a fully taxable-equivalent basis, non-GAAP) during the second quarter of 2026 primarily due to lower loan yields.
Non-interest expense was impacted by the following:
A $5.2 million reversal of an FDIC special assessment accrued in the first quarter of 2024. The special assessments were in response to certain bank failures in 2023 and the reversal is based on the FDIC's final determination of losses to its Deposit Insurance Fund.
Provision for credit losses totaled $23.1 million in the second quarter of 2026, compared to a provision for credit losses of $29.6 million in the first quarter of 2026.
Net charge-offs totaled $13.4 million, or 10 basis points of average total loans on an annualized basis, in the second quarter of 2026 down from $18.4 million, or 14 basis points of average total loans on an annualized basis, in the first quarter of 2026.
Non-performing loans totaled $179.3 million and comprised 0.32% of total loans at June 30, 2026, as compared to $182.7 million and 0.34% of total loans at March 31, 2026.

“Looking ahead, our pipelines remain strong and we believe we are well-positioned to generate consistent balance sheet growth while maintaining our disciplined underwriting standards. We remain committed to growing net interest income and exercising prudent expense management, which position us to deliver positive operating leverage for 2026”, Mr. Crane said.

The graphs shown on pages 3-7 illustrate certain financial highlights of the second quarter of 2026 as well as historical financial performance. See “Supplemental Non-GAAP Financial Measures/Ratios” at Table 18 for additional information with respect to non-GAAP financial measures/ratios, including the reconciliations to the corresponding GAAP financial measures/ratios.

*On May 22, 2025, the Company completed the issuance of $425 million of Series F Preferred Stock. The issuance was in contemplation of redeeming $412.5 million of Series D and Series E Preferred Stock that was expected to reprice at rates higher than existing market rates. The Series D and Series E Preferred Stock were redeemed on July 15, 2025.

SUMMARY OF RESULTS:

BALANCE SHEET

Total assets increased $2.5 billion in the second quarter of 2026 compared to the first quarter of 2026, driven by a $1.6 billion increase in total loans. The strong loan growth was diversified across all major loan categories, including seasonally higher growth in our Premium Finance Receivables - Property and Casualty portfolio.

Total liabilities increased by $2.4 billion in the second quarter of 2026 compared to the first quarter of 2026, driven by a $2.2 billion increase in total deposits. Robust organic deposit growth in the second quarter of 2026 was driven by our diverse customer base and product offerings. Non-interest bearing deposit balances represented 19% of total deposits and average non-interest bearing deposit balances have remained stable in recent quarters. The Company's loans-to-deposits ratio ended the quarter at 91.0%.

For more information regarding changes in the Company’s balance sheet, see Consolidated Statements of Condition and Table 1 through Table 3 in this report.

NET INTEREST INCOME

For the second quarter of 2026, net interest income totaled $597.4 million, compared to $579.0 million in the first quarter of 2026. The increase in net interest income in the second quarter of 2026 was driven by robust average earning asset growth of $2.1 billion.

Net interest margin was 3.50% (3.52% on a fully taxable-equivalent basis, non-GAAP) during the second quarter of 2026, down four basis points compared to the first quarter of 2026. The yield on earning assets declined four basis points during the second quarter of 2026 primarily due to a seven basis point decrease in loan yields. Funding cost on interest-bearing deposits remained unchanged compared to the first quarter of 2026. The net free funds contribution in the second quarter of 2026 was flat compared to the first quarter of 2026.

For more information regarding net interest income, see Table 4 through Table 8 in this report.

ASSET QUALITY

The allowance for credit losses totaled $481.2 million as of June 30, 2026, an increase from $471.6 million as of March 31, 2026. A provision for credit losses totaling $23.1 million was recorded for the second quarter of 2026 compared to $29.6 million recorded in the first quarter of 2026. The provision for credit losses recognized in the second quarter of 2026 reflects stable credit quality and a mostly stable macroeconomic forecast. However, given future economic performance remains uncertain, allowance results capture uncertainty related to credit spreads, equity market valuations, consumer & business sentiment, and the job market. For more information regarding the allowance for credit losses and provision for credit losses, see Table 11 in this report.

Management believes the allowance for credit losses is appropriate to account for expected credit losses. The Company is required to estimate expected credit losses over the life of the Company’s financial assets as of the reporting date. There can be no assurances, however, that future losses will not significantly exceed the amounts provided for, thereby affecting future results of operations. A summary of the allowance for credit losses calculated for the loan components in each portfolio as of June 30, 2026, March 31, 2026, and December 31, 2025 is shown on Table 12 of this report.

Net charge-offs totaled $13.4 million in the second quarter of 2026, a decrease of $5.0 million compared to $18.4 million of net charge-offs in the first quarter of 2026. Net charge-offs as a percentage of average total loans were 10 basis points in the second quarter of 2026 on an annualized basis compared to 14 basis points on an annualized basis in the first quarter of 2026. For more information regarding net charge-offs, see Table 10 in this report.

The Company’s loan portfolio delinquency rates remain low. For more information regarding past due loans, see Table 13 in this report.

Non-performing assets and non-performing loans were stable compared to prior quarter. Non-performing assets totaled $195.2 million and comprised 0.26% of total assets as of June 30, 2026, as compared to $200.2 million, or 0.28% of total assets, as of March 31, 2026. Non-performing loans totaled $179.3 million and comprised 0.32% of total loans at June 30, 2026, as compared to $182.7 million and 0.34% of total loans at March 31, 2026. For more information regarding non-performing assets, see Table 14 in this report.

NON-INTEREST INCOME

Non-interest income totaled $141.3 million in the second quarter of 2026, compared to $134.1 million in the first quarter of 2026.

Wealth management revenue decreased by approximately $2.2 million in the second quarter of 2026, compared to the first quarter of 2026. The decrease in the second quarter of 2026 was primarily driven by performance based revenues on certain customer relationships which positively impacted results in the first quarter of 2026. Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company and Great Lakes Advisors, the brokerage commissions, managed money fees and insurance product commissions at Wintrust Investments and fees from tax-deferred like-kind exchange services provided by the Chicago Deferred Exchange Company.

Mortgage banking revenue totaled $27.4 million in the second quarter of 2026, compared to $23.4 million in the first quarter of 2026. The increase in the second quarter of 2026 was primarily attributed to higher operational revenue. For more information regarding mortgage banking revenue, see Table 16 in this report.

The Company recognized approximately $1.8 million in net gains on investment securities in the second quarter of 2026 compared to approximately $31,000 in net losses in the first quarter of 2026. The net gains in the second quarter of 2026 were primarily the result of fair value adjustments on the Company’s equity investment securities with a readily determinable fair value.

For more information regarding non-interest income, see Table 15 in this report.

NON-INTEREST EXPENSE

Non-interest expense totaled $397.5 million in the second quarter of 2026, increasing $14.9 million, compared to $382.6 million in the first quarter of 2026. Non-interest expense, as a percent of average assets, remained stable at 2.21% in the second quarter of 2026.

Salaries and employee benefits expense increased by approximately $5.6 million in the second quarter of 2026, compared to the first quarter of 2026. This was primarily driven by higher commissions and incentives expense attributable to an increase in mortgage originations and a full quarter impact of the annual merit increases reflected in base salaries.

Advertising and marketing expense in the second quarter of 2026 totaled $20.4 million, which was a $7.2 million increase as compared to the first quarter of 2026. The increase in the second quarter was primarily driven by summer sports sponsorships and other community sponsorship events. Marketing costs are incurred to promote the Company’s brand, commercial banking capabilities and the Company’s various products, to attract loans and deposits and to announce new branch openings as well as the expansion of the Company’s non-bank businesses. The level of marketing expenditures depends on the timing of sponsorship programs utilized which are determined based on the market area, targeted audience, competition and various other factors. Generally, these expenses are elevated in the second and third quarters of each year.

FDIC insurance totaled $6.6 million in the second quarter of 2026, a $4.4 million decrease from the first quarter of 2026. This was primarily the result of a reversal of the $5.2 million FDIC special assessment recorded in the first quarter of 2024. The special assessments were in response to certain bank failures in 2023 and the reversal is based on the FDIC's final determination of losses to its Deposit Insurance Fund.

For more information regarding non-interest expense, see Table 17 in this report.

INCOME TAXES

The Company recorded income tax expense of $84.3 million in the second quarter of 2026 compared to $73.6 million in the first quarter of 2026. The effective tax rates were 26.5% in the second quarter of 2026 compared to 24.4% in the first quarter of 2026. The effective tax rates were impacted by the tax effects related to share-based compensation which fluctuate based on the Company’s stock price and timing of employee stock option exercises and vesting of other share-based awards. The Company recorded net excess tax benefits of $140,000 in the second quarter of 2026, compared to net excess tax benefits of $6.6 million in the first quarter of 2026 related to share-based compensation.

BUSINESS SUMMARY

Community Banking

Through community banking, the Company provides banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the local areas the Company services. In the second quarter of 2026, community banking increased its commercial, commercial real estate and residential real estate loan portfolios.

Mortgage banking revenue was $27.4 million for the second quarter of 2026, an increase of $4.0 million compared to the first quarter of 2026. See Table 16 for more detail. Service charges on deposit accounts totaled $21.2 million in the second quarter of 2026 as compared to $21.0 million in the first quarter of 2026. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of June 30, 2026 indicating momentum for expected continued loan growth in the third quarter of 2026.

Specialty Finance

Through specialty finance, the Company offers financing of insurance premiums for businesses and individuals, equipment financing through structured loans and lease products to customers in a variety of industries, accounts receivable financing and value-added, out-sourced administrative services and other services. Originations within the insurance premium financing receivables portfolios were approximately $5.8 billion during the second quarter of 2026. Average balances increased by $361.6 million, as compared to the first quarter of 2026. The Company’s leasing divisions’ portfolio balances increased in the second quarter of 2026, with capital leases, loans, and equipment on operating leases of $3.1 billion, $1.2 billion, and $363.7 million as of June 30, 2026, respectively, compared to $3.0 billion, $1.2 billion, and $362.8 million as of March 31, 2026, respectively. Revenues from the Company’s out-sourced administrative services business were $1.3 million in the second quarter of 2026, which was relatively stable compared to the first quarter of 2026.

Wealth Management

Through wealth management, the Company offers a full range of wealth management services, including trust and investment services, tax-deferred like-kind exchange services, asset management, and securities brokerage services. Wealth management revenue totaled $39.9 million in the second quarter of 2026, a decrease as compared to the first quarter of 2026. At June 30, 2026, the Company’s wealth management subsidiaries had approximately $49.7 billion of assets under administration, which excludes assets owned by the Company and its subsidiary banks.

WINTRUST FINANCIAL CORPORATION

Key Operating Measures

Wintrust’s key operating measures and growth rates for the second quarter of 2026, as compared to the first quarter of 2026 (sequential quarter) and second quarter of 2025 (linked quarter), are shown in the table below:

							% or basis point (bp) change from1st Quarter2026	% or basis point (bp) change from 2nd Quarter 2025
	Three Months Ended
(Dollars in thousands, except per share data)	Jun 30, 2026		Mar 31, 2026		Jun 30, 2025
Net income	$233,693		$227,388		$195,527		3%	20%
Pre-tax income, excluding provision for credit losses (non-GAAP)	341,098		330,534		289,322		3	18
Net income per common share - Diluted	3.30		3.22		2.78		2	19
Cash dividends declared per common share	0.55		0.55		0.50		-	10
Net revenue	738,635		713,166		670,783		4	10
Net interest income	597,366		579,024		546,694		3	9
Net interest margin	3.50%		3.54%		3.52%		(4)bps	(2)bps
Net interest margin - fully taxable-equivalent (non-GAAP)	3.52		3.56		3.54		(4)	(2)
Net overhead ratio	1.42		1.44		1.57		(2)	(15)
Return on average assets	1.30		1.32		1.19		(2)	11
Return on average common equity	12.82		12.76		12.07		6	75
Return on average tangible common equity (non-GAAP)	14.91		14.89		14.44		2	47
At end of period
Total assets		$74,668,135		$72,157,433		$68,983,318	14%	8%
Total loans		55,654,947		54,071,292		51,041,679	12	9
Total deposits		61,141,275		58,914,382		55,816,811	15	10
Total shareholders’ equity		7,525,116		7,378,100		7,225,696	8	4

(1)Period-end balance sheet percentage changes are annualized.

(2)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(3)Net revenue is net interest income plus non-interest income.

(4)The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.

(5)Excludes mortgage loans held-for-sale.

Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. This is done for analytical purposes to better discern, for decision-making purposes, underlying performance trends when compared to full-year or year-over-year amounts. For example, a 5% growth rate for a quarter would represent an annualized 20% growth rate.

WINTRUST FINANCIAL CORPORATION

Selected Financial Highlights

	Three Months Ended										Six Months Ended
(Dollars in thousands, except per share data)	Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Jun 30, 2026	Jun 30, 2025
Selected Financial Condition Data (at end of period):
Total assets		$74,668,135		$72,157,433		$71,142,046		$69,629,638		$68,983,318
Total loans		55,654,947		54,071,292		53,105,101		52,063,482		51,041,679
Total deposits		61,141,275		58,914,382		57,717,191		56,711,381		55,816,811
Total shareholders’ equity		7,525,116		7,378,100		7,258,715		7,045,757		7,225,696
Selected Statements of Income Data:
Net interest income	$597,366		$579,024		$583,874		$567,010		$546,694		$1,176,390	$1,073,168
Net revenue	738,635		713,166		714,264		697,837		670,783		1,451,801	1,313,891
Net income	233,693		227,388		223,024		216,254		195,527		461,081	384,566
Pre-tax income, excluding provision for credit losses (non-GAAP)	341,098		330,534		329,811		317,809		289,322		671,632	566,340
Net income per common share - Basic	3.34		3.26		3.21		2.82		2.82		6.60	5.55
Net income per common share - Diluted	3.30		3.22		3.15		2.78		2.78		6.52	5.47
Cash dividends declared per common share	0.55		0.55		0.50		0.50		0.50		1.10	1.00
Selected Financial Ratios and Other Data:
Performance Ratios:
Net interest margin	3.50%		3.54%		3.52%		3.48%		3.52%		3.52%	3.53%
Net interest margin - fully taxable-equivalent (non-GAAP)	3.52		3.56		3.54		3.50		3.54		3.54	3.55
Non-interest income to average assets	0.79		0.78		0.74		0.76		0.76		0.78	0.75
Non-interest expense to average assets	2.21		2.21		2.19		2.21		2.32		2.21	2.32
Net overhead ratio	1.42		1.44		1.45		1.45		1.57		1.43	1.57
Return on average assets	1.30		1.32		1.27		1.26		1.19		1.31	1.19
Return on average common equity	12.82		12.76		12.63		11.58		12.07		12.79	12.14
Return on average tangible common equity (non-GAAP)	14.91		14.89		14.83		13.74		14.44		14.90	14.57
Average total assets	$72,161,723		$70,089,123		$69,492,268		$68,303,036		$65,840,345		$71,131,148	$64,978,481
Average total shareholders’ equity	7,474,449		7,387,713		7,166,608		6,955,543		6,862,040		7,431,321	6,662,598
Average loans to average deposits ratio	92.6%		93.1%		92.4%		92.5%		93.0%		92.8%	92.7%
Period-end loans to deposits ratio	91.0		91.8		92.0		91.8		91.4
Common Share Data at end of period:
Market price per common share	$160.72		$138.94		$139.82		$132.44		$123.98
Book value per common share	105.26		103.10		102.03		98.87		95.43
Tangible book value per common share (non-GAAP)	92.13		89.90		88.66		85.39		81.86
Common shares outstanding		67,455,414		67,437,300		66,974,913		66,961,209		66,937,732
Other Data at end of period:
Common equity to assets ratio	9.5%		9.6%		9.6%		9.5%		9.3%
Tangible common equity ratio (non-GAAP)	8.4		8.5		8.5		8.3		8.0
Tier 1 leverage ratio	9.8		9.8		9.6		9.5		10.2
Risk-based capital ratios:
Tier 1 capital ratio	11.1		11.1		11.0		10.9		11.5
Common equity tier 1 capital ratio	10.4		10.4		10.3		10.2		10.0
Total capital ratio	12.4		12.6		12.4		12.4		13.0
Allowance for credit losses	$481,189		$471,591		$460,465		$454,586		$457,461
Allowance for loan and unfunded lending-related commitment losses to total loans	0.86%		0.87%		0.87%		0.87%		0.90%
Number of:
Bank subsidiaries	16		16		16		16		16
Banking offices	210		209		209		208		208

(1)Excludes mortgage loans held-for-sale.

(2)Net revenue is net interest income plus non-interest income.

(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(5)Capital ratios for current quarter-end are estimated.

(6)The allowance for credit losses includes the allowance for loan losses, the allowance for unfunded lending-related commitments and the allowance for held-to-maturity securities losses.

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CONDITION

	(Unaudited)		(Unaudited)				(Unaudited)		(Unaudited)
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(In thousands)		2026		2026		2025		2025		2025
Assets
Cash and due from banks	$595,790		$543,654		$467,874		$565,406		$695,501
Federal funds sold and securities purchased under resale agreements	65		65		64		63		63
Interest-bearing deposits with banks	3,573,915		3,051,665		3,180,553		3,422,452		4,569,618
Available-for-sale securities, at fair value	7,587,545		7,244,282		6,236,263		5,274,124		4,885,715
Held-to-maturity securities, at amortized cost	3,196,452		3,270,207		3,343,905		3,438,406		3,502,186
Equity securities with readily determinable fair value	65,815		63,786		63,770		63,445		273,722
Federal Home Loan Bank and Federal Reserve Bank stock	294,629		292,044		291,881		282,755		282,087
Mortgage loans held-for-sale, at fair value	407,495		383,405		340,745		333,883		299,606
Loans, net of unearned income	55,654,947		54,071,292		53,105,101		52,063,482		51,041,679
Allowance for loan losses	(402,952)		(390,651)		(379,283)		(386,622)		(391,654)
Net loans	55,251,995		53,680,641		52,725,818		51,676,860		50,650,025
Premises, software and equipment, net	778,958		777,603		781,611		775,425		776,324
Lease investments, net	363,664		362,766		360,646		301,000		289,768
Accrued interest receivable and other assets	1,666,474		1,596,617		1,617,682		1,614,674		1,610,025
Receivable on unsettled securities sales	-		-		835,275		978,209		240,039
Goodwill	797,219		797,658		797,960		797,639		798,144
Other acquisition-related intangible assets	88,119		93,040		97,999		105,297		110,495
Total assets	$74,668,135		$72,157,433		$71,142,046		$69,629,638		$68,983,318
Liabilities and Shareholders’ Equity
Deposits:
Non-interest-bearing	$11,796,736		$12,112,891		$11,423,701		$10,952,146		$10,877,166
Interest-bearing	49,344,539		46,801,491		46,293,490		45,759,235		44,939,645
Total deposits	61,141,275		58,914,382		57,717,191		56,711,381		55,816,811
Federal Home Loan Bank advances	3,450,680		3,451,309		3,451,309		3,151,309		3,151,309
Other borrowings	370,736		340,647		477,966		579,328		625,392
Subordinated notes	298,820		298,717		298,636		298,536		298,458
Junior subordinated debentures	253,566		253,566		253,566		253,566		253,566
Payable on unsettled securities purchases	-		-		-		-		39,105
Accrued interest payable and other liabilities	1,627,942		1,520,712		1,684,663		1,589,761		1,572,981
Total liabilities	67,143,019		64,779,333		63,883,331		62,583,881		61,757,622
Shareholders’ Equity:
Preferred stock	425,000		425,000		425,000		425,000		837,500
Common stock	67,581		67,563		67,062		67,042		67,025
Surplus	2,560,427		2,546,754		2,534,024		2,521,306		2,495,637
Treasury stock	(14,882)		(13,970)		(9,156)		(9,150)		(9,156)
Retained earnings	4,907,788		4,719,561		4,537,539		4,356,367		4,200,923
Accumulated other comprehensive loss	(420,798)		(366,808)		(295,754)		(314,808)		(366,233)
Total shareholders’ equity	7,525,116		7,378,100		7,258,715		7,045,757		7,225,696
Total liabilities and shareholders’ equity	$74,668,135		$72,157,433		$71,142,046		$69,629,638		$68,983,318

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	Three Months Ended										Six Months Ended
(Dollars in thousands, except per share data)	Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Jun 30, 2026		Jun 30, 2025
Interest income
Interest and fees on loans	$822,981		$797,889		$822,494		$832,140		$797,997		$1,620,870		$1,566,359
Mortgage loans held-for-sale	6,169		4,615		5,607		4,757		4,872		10,784		9,118
Interest-bearing deposits with banks	20,916		19,150		27,190		34,992		34,317		40,066		71,083
Federal funds sold and securities purchased under resale agreements	5		64		77		75		276		69		455
Investment securities	105,716		100,278		95,461		86,426		78,053		205,994		150,069
Trading account securities	-		-		-		-		-		-		11
Federal Home Loan Bank and Federal Reserve Bank stock	5,625		5,564		5,497		5,444		5,393		11,189		10,700
Brokerage customer receivables	-		-		-		-		-		-		78
Total interest income	961,412		927,560		956,326		963,834		920,908		1,888,972		1,807,873
Interest expense
Interest on deposits	325,033		309,187		332,178		355,846		333,470		634,220		653,703
Interest on Federal Home Loan Bank advances	28,218		27,701		26,408		26,007		25,724		55,919		51,165
Interest on other borrowings	3,121		4,026		5,956		6,887		6,957		7,147		13,749
Interest on subordinated notes	3,739		3,719		3,737		3,717		3,735		7,458		7,449
Interest on junior subordinated debentures	3,935		3,903		4,173		4,367		4,328		7,838		8,639
Total interest expense	364,046		348,536		372,452		396,824		374,214		712,582		734,705
Net interest income	597,366		579,024		583,874		567,010		546,694		1,176,390		1,073,168
Provision for credit losses	23,134		29,594		27,588		21,768		22,234		52,728		46,197
Net interest income after provision for credit losses	574,232		549,430		556,286		545,242		524,460		1,123,662		1,026,971
Non-interest income
Wealth management	39,883		42,059		39,365		37,188		36,821		81,942		70,863
Mortgage banking	27,438		23,396		22,625		24,451		23,170		50,834		43,699
Service charges on deposit accounts	21,240		20,970		20,402		19,825		19,502		42,210		38,864
Gains (losses) on investment securities, net	1,845		(31)		1,505		2,972		650		1,814		3,846
Fees from covered call options	4,793		4,669		5,992		5,619		5,624		9,462		9,070
Trading gains (losses), net	70		10		(257)		172		151		80		87
Operating lease income, net	18,804		19,154		16,365		15,466		15,166		37,958		30,453
Other	27,196		23,915		24,393		25,134		23,005		51,111		43,841
Total non-interest income	141,269		134,142		130,390		130,827		124,089		275,411		240,723
Non-interest expense
Salaries and employee benefits	234,089		228,447		222,557		219,668		219,541		462,536		431,067
Software and equipment	39,288		35,654		36,096		35,027		36,522		74,942		71,239
Operating lease equipment	11,187		10,987		11,034		10,409		10,757		22,174		21,228
Occupancy, net	21,153		20,566		20,105		20,809		20,228		41,719		41,006
Data processing	10,659		11,266		11,809		11,329		12,110		21,925		23,384
Advertising and marketing	20,432		13,218		13,792		19,027		18,761		33,650		31,033
Professional fees	9,342		7,375		8,280		7,465		9,243		16,717		18,287
Amortization of other acquisition-related intangible assets	4,921		4,958		4,999		5,196		5,580		9,879		11,198
FDIC insurance	6,640		10,990		10,562		11,418		10,971		17,630		21,897
Other real estate owned (“OREO”) expenses, net	786		207		2,162		262		505		993		1,148
Other	39,040		38,964		43,057		39,418		37,243		78,004		76,064
Total non-interest expense	397,537		382,632		384,453		380,028		381,461		780,169		747,551
Income before taxes	317,964		300,940		302,223		296,041		267,088		618,904		520,143
Income tax expense	84,271		73,552		79,199		79,787		71,561		157,823		135,577
Net income	$233,693		$227,388		$223,024		$216,254		$195,527		$461,081		$384,566
Preferred stock dividends	8,367		8,367		8,367		13,295		6,991		16,734		13,982
Preferred stock redemption	-		-		-		14,046		-		-		-
Net income applicable to common shares	$225,326		$219,021		$214,657		$188,913		$188,536		$444,347		$370,584
Net income per common share - Basic	$3.34		$3.26		$3.21		$2.82		$2.82		$6.60		$5.55
Net income per common share - Diluted	$3.30		$3.22		$3.15		$2.78		$2.78		$6.52		$5.47
Cash dividends declared per common share	$0.55		$0.55		$0.50		$0.50		$0.50		$1.10		$1.00
Weighted average common shares outstanding		67,434		67,246		66,970		66,952		66,931		67,341		66,829
Dilutive potential common shares	852		851		1,143		1,028		888		852		903
Average common shares and dilutive common shares	68,286		68,097		68,113		67,980		67,819		68,193		67,732

TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES

						% Growth From
(Dollars in thousands)	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2026		Jun 30, 2025
Balance:
Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies	$265,203	$249,350	$217,136	$211,360	$192,633	26%		38%
Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies	142,292	134,055	123,609	122,523	106,973	25		33
Total mortgage loans held-for-sale	$407,495	$383,405	$340,745	$333,883	$299,606	25%		36%
Core loans:
Commercial
Commercial and industrial	$7,802,625	$7,620,239	$7,267,505	$7,135,083	$7,028,247	10%		11%
Asset-based lending	1,628,319	1,558,089	1,512,888	1,588,522	1,663,693	18		(2)
Municipal	866,012	839,633	868,958	804,986	771,785	13		12
Leases	3,114,901	3,002,014	2,921,366	2,834,563	2,757,331	15		13
Commercial real estate
Residential construction	52,590	53,097	54,753	60,923	59,027	(4)		(11)
Commercial construction	2,294,566	1,959,375	2,013,244	2,273,545	2,165,263	69		6
Land	308,509	311,470	341,585	323,685	304,827	(4)		1
Office	1,607,275	1,652,482	1,688,614	1,578,208	1,601,208	(11)		-
Industrial	3,405,641	3,323,977	3,167,768	2,912,547	2,824,889	10		21
Retail	1,475,949	1,469,658	1,436,252	1,478,861	1,452,351	2		2
Multi-family	3,299,607	3,565,419	3,445,507	3,306,597	3,200,578	(30)		3
Mixed use and other	1,826,470	1,826,808	1,793,013	1,684,841	1,683,867	(0)		8
Home equity	491,782	471,264	480,525	484,202	466,815	17		5
Residential real estate
Residential real estate loans for investment	4,411,357	4,319,941	4,171,439	4,019,046	3,814,715	8		16
Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies	76,334	83,036	84,706	75,088	80,800	(32)		(6)
Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies	55,001	62,189	61,087	49,736	53,267		(46)	3
Total core loans	$32,716,938	$32,118,691	$31,309,210	$30,610,433	$29,928,663	7%		9%
Niche loans:
Commercial
Franchise	$1,300,935	$1,293,639	$1,298,493	$1,298,140	$1,286,265	2%		1%
Mortgage warehouse lines of credit	1,897,762	1,800,972	1,515,003	1,204,661	1,232,530	22			54
Community Advantage - homeowners association	516,782	526,274	532,027	537,696	526,595	(7)		(2)
Insurance agency lending	1,153,975	1,122,361	1,128,446	1,140,691	1,120,985	11		3
Premium Finance receivables
U.S. property & casualty insurance	7,744,361	7,127,234	7,308,054	7,502,901	7,378,340	35		5
Canada property & casualty insurance	867,662	763,097	875,362	863,391	944,836		55	(8)
Life insurance	9,312,521	9,196,382	9,023,642	8,758,553	8,506,960	5		9
Consumer and other	144,011	122,642	114,864	147,016	116,505	70		24
Total niche loans	$22,938,009	$21,952,601	$21,795,891	$21,453,049	$21,113,016	18%		9%
Total loans, net of unearned income	$55,654,947	$54,071,292	$53,105,101	$52,063,482	$51,041,679	12%		9%

(1)NM - Not Meaningful.

(2)Annualized.

TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES

											% Growth From
(Dollars in thousands)	Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2026	Jun 30, 2025
Balance:
Non-interest-bearing		$11,796,736		$12,112,891		$11,423,701		$10,952,146		$10,877,166	(10)%	8%
NOW and interest-bearing demand deposits		6,742,269		5,987,258		6,233,753		6,710,919		6,795,725	51	(1)
Wealth management deposits		1,349,949		1,670,620		1,907,647		1,600,735		1,595,764	(77)	(15)
Money market		23,083,225		21,714,267		21,368,924		20,270,382		19,556,041	25	18
Savings		6,597,516		6,942,565		6,905,216		6,758,743		6,659,419	(20)	(1)
Time certificates of deposit		11,571,580		10,486,781		9,877,950		10,418,456		10,332,696	41	12
Total deposits		$61,141,275		$58,914,382		$57,717,191		$56,711,381		$55,816,811	15%	10%
Mix:
Non-interest-bearing	19%		20%		20%		19%		19%
NOW and interest-bearing demand deposits	11		10		11		12		12
Wealth management deposits	2		3		3		3		3
Money market	38		37		37		36		35
Savings	11		12		12		12		12
Time certificates of deposit	19		18		17		18		19
Total deposits	100%		100%		100%		100%		100%

(1)Annualized.

(2)Represents deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), and trust and asset management customers of the Company.

TABLE 3: TIME CERTIFICATES OF DEPOSIT MATURITY/RE-PRICING ANALYSIS

As of June 30, 2026

(Dollars in thousands)	Total Time Certificates of Deposit	Weighted-Average Rate of Maturing Time Certificates of Deposit
1-3 months	$5,548,778	3.57%
4-6 months	3,389,412	3.49
7-9 months	1,458,932	3.43
10-12 months	604,775	3.38
13-18 months	413,060	3.50
19-24 months	72,439	2.84
24+ months	84,184	2.61
Total	$11,571,580	3.51%

TABLE 4: QUARTERLY AVERAGE BALANCES

	Average Balance for three months ended,
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(In thousands)		2026		2026		2025		2025		2025
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents	$2,412,081		$2,247,083		$2,842,829		$3,276,683		$3,308,199
Investment securities	10,832,538		10,616,617		10,084,138		9,377,930		8,801,560
FHLB and FRB stock	292,325		291,972		284,643		282,338		282,001
Liquidity management assets	$13,536,944		$13,155,672		$13,211,610		$12,936,951		$12,391,760
Mortgage loans held-for-sale	402,175		317,047		357,672		295,365		310,534
Loans, net of unearned income (4) (5)	54,491,469		52,845,685		52,193,637		51,403,566		49,517,635
Total earning assets	$68,430,588		$66,318,404		$65,762,919		$64,635,882		$62,219,929
Allowance for loan and investment security losses	(405,743)		(391,810)		(404,075)		(410,681)		(398,685)
Cash and due from banks	519,586		534,189		517,616		495,292		478,707
Other assets	3,617,292		3,628,340		3,615,808		3,582,543		3,540,394
Total assets	$72,161,723		$70,089,123		$69,492,268		$68,303,036		$65,840,345
NOW and interest-bearing demand deposits	$6,453,420		$6,081,218		$6,133,333		$6,687,292		$6,423,050
Wealth management deposits	1,485,347		1,858,560		1,925,808		1,604,142		1,552,989
Money market accounts	22,000,942		21,156,125		20,475,659		19,431,021		18,184,754
Savings accounts	6,707,916		6,921,251		6,814,263		6,723,325		6,578,698
Time deposits	10,938,312		9,782,112		10,045,136		10,319,719		9,841,702
Interest-bearing deposits	$47,585,937		$45,799,266		$45,394,199		$44,765,499		$42,581,193
FHLB advances	3,450,773		3,451,312		3,203,483		3,151,310		3,151,310
Other borrowings	358,511		442,200		547,507		614,892		593,657
Subordinated notes	298,757		298,661		298,576		298,481		298,398
Junior subordinated debentures	253,566		253,566		253,566		253,566		253,566
Total interest-bearing liabilities	$51,947,544		$50,245,005		$49,697,331		$49,083,748		$46,878,124
Non-interest-bearing deposits	11,273,344		10,963,887		11,080,254		10,791,709		10,643,798
Other liabilities	1,466,386		1,492,518		1,548,075		1,472,036		1,456,383
Equity	7,474,449		7,387,713		7,166,608		6,955,543		6,862,040
Total liabilities and shareholders’ equity	$72,161,723		$70,089,123		$69,492,268		$68,303,036		$65,840,345
Net free funds/contribution	$16,483,044		$16,073,399		$16,065,588		$15,552,134		$15,341,805

(1)Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.

(2)Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.

(3)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(4)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(5)Loans, net of unearned income, include non-accrual loans.

(6)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

TABLE 5: QUARTERLY NET INTEREST INCOME

	Net Interest Income for three months ended,
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(In thousands)		2026		2026		2025		2025		2025
Interest income:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents	$20,921		$19,214		$27,267		$35,067		$34,593
Investment securities	106,346		100,864		96,122		87,101		78,733
FHLB and FRB stock	5,625		5,564		5,497		5,444		5,393
Liquidity management assets	$132,892		$125,642		$128,886		$127,612		$118,719
Mortgage loans held-for-sale	6,169		4,615		5,607		4,757		4,872
Loans, net of unearned income	825,092		799,915		824,628		834,294		800,197
Total interest income	$964,153		$930,172		$959,121		$966,663		$923,788
Interest expense:
NOW and interest-bearing demand deposits	$32,318		$29,666		$31,681		$40,448		$37,517
Wealth management deposits	6,823		8,941		10,011		8,415		8,182
Money market accounts	165,035		155,299		163,585		169,831		155,890
Savings accounts	25,729		30,672		34,371		38,844		37,637
Time deposits	95,128		84,609		92,530		98,308		94,244
Interest-bearing deposits	$325,033		$309,187		$332,178		$355,846		$333,470
FHLB advances	28,218		27,701		26,408		26,007		25,724
Other borrowings	3,121		4,026		5,956		6,887		6,957
Subordinated notes	3,739		3,719		3,737		3,717		3,735
Junior subordinated debentures	3,935		3,903		4,173		4,367		4,328
Total interest expense	$364,046		$348,536		$372,452		$396,824		$374,214
Less: Fully taxable-equivalent adjustment	(2,741)		(2,612)		(2,795)		(2,829)		(2,880)
Net interest income (GAAP)	597,366		579,024		583,874		567,010		546,694
Fully taxable-equivalent adjustment	2,741		2,612		2,795		2,829		2,880
Net interest income, fully taxable-equivalent (non-GAAP)	$600,107		$581,636		$586,669		$569,839		$549,574

(1)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(2)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.

(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

TABLE 6: QUARTERLY NET INTEREST MARGIN

	Net Interest Margin for three months ended,
	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025
Yield earned on:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents	3.48%	3.47%	3.81%	4.25%	4.19%
Investment securities	3.94	3.85	3.78	3.68	3.59
FHLB and FRB stock	7.72	7.73	7.66	7.65	7.67
Liquidity management assets	3.94%	3.87%	3.87%	3.91%	3.84%
Mortgage loans held-for-sale	6.15	5.90	6.22	6.39	6.29
Loans, net of unearned income	6.07	6.14	6.27	6.44	6.48
Total earning assets	5.65%	5.69%	5.79%	5.93%	5.96%
Rate paid on:
NOW and interest-bearing demand deposits	2.01%	1.98%	2.05%	2.40%	2.34%
Wealth management deposits	1.84	1.95	2.06	2.08	2.11
Money market accounts	3.01	2.98	3.17	3.47	3.44
Savings accounts	1.54	1.80	2.00	2.29	2.29
Time deposits	3.49	3.51	3.65	3.78	3.84
Interest-bearing deposits	2.74%	2.74%	2.90%	3.15%	3.14%
FHLB advances	3.28	3.26	3.27	3.27	3.27
Other borrowings	3.49	3.69	4.32	4.44	4.70
Subordinated notes	5.02	5.05	4.97	4.94	5.02
Junior subordinated debentures	6.22	6.24	6.53	6.83	6.85
Total interest-bearing liabilities	2.81%	2.81%	2.97%	3.21%	3.20%
Interest rate spread (2) (3)	2.84%	2.88%	2.82%	2.72%	2.76%
Less: Fully taxable-equivalent adjustment	(0.02)	(0.02)	(0.02)	(0.02)	(0.02)
Net free funds/contribution	0.68	0.68	0.72	0.78	0.78
Net interest margin (GAAP)	3.50%	3.54%	3.52%	3.48%	3.52%
Fully taxable-equivalent adjustment	0.02	0.02	0.02	0.02	0.02
Net interest margin, fully taxable-equivalent (non-GAAP)	3.52%	3.56%	3.54%	3.50%	3.54%

(1)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(2)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.

(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(4)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

TABLE 7: YEAR-TO-DATE AVERAGE BALANCES, AND NET INTEREST INCOME AND MARGIN

	Average Balancefor six months ended,		Interestfor six months ended,			Yield/Ratefor six months ended,
(Dollars in thousands)	Jun 30, 2026	Jun 30, 2025	Jun 30, 2026	Jun 30, 2025		Jun 30, 2026	Jun 30, 2025
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents	$2,330,038	$3,413,538	$40,135	$71,538		3.47%	4.23%
Investment securities	10,725,174	8,606,730	207,210	151,439		3.90	3.55
FHLB and FRB stock	292,149	281,853	11,189	10,700		7.72	7.66
Liquidity management assets (4) (5)	$13,347,361	$12,302,121	$258,534	$233,677		3.91%	3.83%
Other earning assets (4) (5) (6)	-	6,533	-	92		-	2.84
Mortgage loans held-for-sale	359,846	298,688	10,784	9,118		6.04	6.16
Loans, net of unearned income (4) (5) (7)	53,673,123	48,680,160	1,625,007	1,570,765		6.11	6.51
Total earning assets	$67,380,330	$61,287,502	$1,894,325	$1,813,652		5.67%	5.97%
Allowance for loan and investment security losses	(398,815)	(387,092)
Cash and due from banks	526,847	477,571
Other assets	3,622,786	3,600,500
Total assets	$71,131,148	$64,978,481
NOW and interest-bearing demand deposits	$6,268,347	$6,235,661	$61,985	$71,117		1.99%	2.30%
Wealth management deposits	1,670,923	1,563,675	15,764	16,788		1.90	2.17
Money market accounts	21,580,867	17,884,615	320,334	302,264		2.99	3.41
Savings accounts	6,813,994	6,529,345	56,401	73,560		1.67	2.27
Time deposits	10,363,406	9,625,117	179,736	189,974		3.50	3.98
Interest-bearing deposits	$46,697,537	$41,838,413	$634,220	$653,703		2.74%	3.15%
FHLB advances	3,451,041	3,151,310	55,919	51,165		3.27	3.27
Other borrowings	400,124	587,930	7,147	13,749		3.60	4.72
Subordinated notes	298,709	298,353	7,458	7,449		5.04	5.04
Junior subordinated debentures	253,566	253,566	7,838	8,639		6.23	6.87
Total interest-bearing liabilities	$51,100,977	$46,129,572	$712,582	$734,705		2.81%	3.21%
Non-interest-bearing deposits	11,119,470	10,687,733
Other liabilities	1,479,380	1,498,578
Equity	7,431,321	6,662,598
Total liabilities and shareholders’ equity	$71,131,148	$64,978,481
Interest rate spread (5) (8)						2.86%	2.76%
Less: Fully taxable-equivalent adjustment			(5,353)	(5,779)		(0.02)	(0.02)
Net free funds/contribution	$16,279,353	$15,157,930				0.68	0.79
Net interest income/margin (GAAP)			$1,176,390	$1,073,168		3.52%	3.53%
Fully taxable-equivalent adjustment			5,353		5,779	0.02	0.02
Net interest income/margin, fully taxable-equivalent (non-GAAP)			$1,181,743	$1,078,947		3.54%	3.55%

(3)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(4)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.

(5)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(6)Other earning assets include brokerage customer receivables and trading account securities.

(7)Loans, net of unearned income, include non-accrual loans.

(8)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.

(9)Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

TABLE 8: INTEREST RATE SENSITIVITY

As an ongoing part of its financial strategy, the Company attempts to manage the impact of fluctuations in market interest rates on net interest income. Management measures its exposure to changes in interest rates by modeling many different interest rate scenarios.

The following interest rate scenarios display the percentage change in net interest income over a one-year time horizon assuming increases and decreases of 100 and 200 basis points as compared to projected net interest income in a scenario with no assumed rate changes. The Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet. Conversely, the Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months. Actual results may differ from these simulated results due to timing, magnitude, and frequency of interest rate changes as well as changes in market conditions and management strategies. The interest rate sensitivity for both the Static Shock and Ramp Scenario is as follows:

Static Shock Scenario	+200 Basis Points	+100 Basis Points	-100 Basis Points	-200 Basis Points
Jun 30, 2026	(2.4)%	(1.1)%	(0.1)%	(0.1)%
Mar 31, 2026	(0.8)	(0.1)	(1.0)	(1.9)
Dec 31, 2025	(1.6)	(0.5)	(0.5)	(0.8)
Sep 30, 2025	(2.3)	(0.8)	0.0	(0.4)
Jun 30, 2025	(1.5)	(0.4)	(0.2)	(1.2)

Ramp Scenario	+200 Basis Points	+100 Basis Points	-100 Basis Points	-200 Basis Points
Jun 30, 2026	(0.2)%	(0.1)%	(0.2)%	(0.4)%
Mar 31, 2026	(0.1)	0.0	(0.1)	(0.3)
Dec 31, 2025	(0.0)	0.1	(0.1)	(0.2)
Sep 30, 2025	(0.2)	(0.1)	0.1	(0.1)
Jun 30, 2025	0.0	0.0	(0.1)	(0.4)

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. Management has taken action to reposition its sensitivity to interest rates to stabilize net interest margin following the rise in short term interest rates in 2022 and 2023. To this end, management has executed various derivative instruments including collars, floors and receive-fixed swaps to hedge variable-rate loan exposures. The Company will continue to monitor current and projected interest rates and may execute additional derivatives to mitigate potential fluctuations in the net interest margin in future periods.

TABLE 9: MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES

	Loans repricing or contractual maturity period
As of June 30, 2026	One year or less	From one to five years	From five to fifteen years	After fifteen years	Total
(In thousands)
Commercial
Fixed rate	$615,590	$4,170,452	$2,191,702	$53,448	$7,031,192
Variable rate	11,248,473	1,646	-	-	11,250,119
Total commercial	$11,864,063	$4,172,098	$2,191,702	$53,448	$18,281,311
Commercial real estate
Fixed rate	$930,512	$2,655,051	$341,069	$70,710	$3,997,342
Variable rate	10,262,509	10,692	64	-	10,273,265
Total commercial real estate	$11,193,021	$2,665,743	$341,133	$70,710	$14,270,607
Home equity
Fixed rate	$8,900	$982	$29	$6	$9,917
Variable rate	481,865	-	-	-	481,865
Total home equity	$490,765	$982	$29	$6	$491,782
Residential real estate
Fixed rate	$18,332	$7,134	$63,647	$1,042,536	$1,131,649
Variable rate	133,698	822,226	2,455,119	-	3,411,043
Total residential real estate	$152,030	$829,360	$2,518,766	$1,042,536	$4,542,692
Premium finance receivables - property & casualty
Fixed rate	$8,456,306	$155,717	$ -	$ -	$8,612,023
Variable rate	-	-	-	-	-
Total premium finance receivables - property & casualty	$8,456,306	$155,717	$ -	$ -	$8,612,023
Premium finance receivables - life insurance
Fixed rate	$22,418	$82,894	$ -	$ -	$105,312
Variable rate	9,207,209	-	-	-	9,207,209
Total premium finance receivables - life insurance	$9,229,627	$82,894	$ -	$ -	$9,312,521
Consumer and other
Fixed rate	$47,737	$7,565	$1,185	$838	$57,325
Variable rate	86,686	-	-	-	86,686
Total consumer and other	$134,423	$7,565	$1,185	$838	$144,011
Total per category
Fixed rate	$10,099,795	$7,079,795	$2,597,632	$1,167,538	$20,944,760
Variable rate	31,420,440	834,564	2,455,183	-	34,710,187
Total loans, net of unearned income	$41,520,235	$7,914,359	$5,052,815	$1,167,538	$55,654,947
Less: Existing cash flow hedging derivatives	(6,900,000)
Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity	$34,620,235
Variable Rate Loan Pricing by Index:
SOFR tenors					$22,627,412
12- month CMT					8,176,185
Prime					3,125,303
Fed Funds					546,049
Other U.S. Treasury tenors					130,340
Other					104,898
Total variable rate					$34,710,187

(1)Excludes cash flow hedges with future effective starting dates and those that have matured as of June 30, 2026. The $6.90 billion of cash flow hedging derivatives includes receive fixed swaps, collars and floors of which $5.95 billion were impacting the cash flows of loans indexed to one-month SOFR as of June 30, 2026.

(2)SOFR - Secured Overnight Financing Rate.

(3)CMT - Constant Maturity Treasury Rate.

	6/30/2025	7/31/2025	8/31/2025	9/30/2025	10/31/2025	11/30/2025	12/31/2025	1/31/2026	2/28/2026	3/31/2026	4/30/2026	5/31/2026	6/30/2026
1M SOFR	4.32	4.35	4.27	4.13	4.00	3.86	3.69	3.67	3.67	3.66	3.65	3.62	3.65
12M CMT	3.96	4.10	3.83	3.68	3.70	3.61	3.48	3.48	3.48	3.68	3.72	3.79	3.98
Prime	7.50	7.50	7.50	7.25	7.00	7.00	6.75	6.75	6.75	6.75	6.75	6.75	6.75

Source: Bloomberg

As noted in the table on the previous page, the majority of the Company’s portfolio is tied to SOFR and CMT indices which, as shown in the table above, do not mirror the same changes as the Prime rate, which has historically moved when the Federal Reserve raises or lowers interest rates. Specifically, the Company has variable rate loans of $20.0 billion tied to one-month SOFR and $8.2 billion tied to twelve-month CMT. The above chart shows:

	Basis Point (bp) Change in
	1-month SOFR		12- month CMT		Prime
Second Quarter 2026	(1)bps			30bps	- bps
First Quarter 2026	(3)		20		-
Fourth Quarter 2025		(44)		(20)		(50)
Third Quarter 2025		(19)		(28)		(25)
Second Quarter 2025		-		(7)		-

TABLE 10: ALLOWANCE FOR CREDIT LOSSES

	Three Months Ended										Six Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,		Jun 30,		Jun 30,
(Dollars in thousands)		2026		2026		2025		2025		2025		2026		2025
Allowance for credit losses at beginning of period	$471,591		$460,465		$454,586		$457,461		$448,387		$460,465		$437,060
Provision for credit losses	23,134		29,594		27,588		21,768		22,234		52,728		46,197
Other adjustments	(90)		(50)		71		(88)		180		(140)		184
Charge-offs:
Commercial	10,837		8,428		12,894		21,597		6,148		19,265		15,870
Commercial real estate	707		7,260		5,625		144		5,711		7,967		6,165
Home equity	-		-		-		27		111		-		111
Residential real estate	163		350		-		26		-		513		-
Premium finance receivables - property & casualty	5,403		7,431		8,354		6,860		6,346		12,834		13,460
Premium finance receivables - life insurance	-		-		-		18		-		-		12
Consumer and other	172		180		203		174		179		352		326
Total charge-offs	17,282		23,649		27,076		28,846		18,495		40,931		35,944
Recoveries:
Commercial	1,710		1,419		956		1,449		1,746		3,129		2,675
Commercial real estate	5		6		4		241		10		11		22
Home equity	16		303		28		104		30		319		246
Residential real estate	1		1		1		1		2		2		138
Premium finance receivables - property & casualty	2,076		3,437		4,275		2,459		3,335		5,513		6,822
Premium finance receivables - life insurance	-		-		-		-		-		-		-
Consumer and other	28		65		32		37		32		93		61
Total recoveries	3,836		5,231		5,296		4,291		5,155		9,067		9,964
Net charge-offs	(13,446)		(18,418)		(21,780)		(24,555)		(13,340)		(31,864)		(25,980)
Allowance for credit losses at period end	$481,189		$471,591		$460,465		$454,586		$457,461		$481,189		$457,461
Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
Commercial	0.20%		0.17%		0.29%		0.49%		0.11%		0.19%		0.17%
Commercial real estate	0.02		0.21		0.16		(0.00)		0.17		0.11		0.10
Home equity	(0.01)		(0.26)		(0.02)		(0.06)		0.07		(0.13)		(0.06)
Residential real estate	0.01		0.03		(0.00)		0.00		(0.00)		0.02		(0.01)
Premium finance receivables - property & casualty	0.16		0.20		0.20		0.20		0.16		0.18		0.18
Premium finance receivables - life insurance	-		-		-		0.00		-		-		0.00
Consumer and other	0.42		0.35		0.47		0.40		0.44		0.38		0.44
Total loans, net of unearned income	0.10%		0.14%		0.17%		0.19%		0.11%		0.12%		0.11%
Loans at period end	$55,654,947		$54,071,292		$53,105,101		$52,063,482		$51,041,679
Allowance for loan losses as a percentage of loans at period end	0.72%		0.72%		0.71%		0.74%		0.77%
Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end	0.86		0.87		0.87		0.87		0.90

PCD - Purchase Credit Deteriorated

TABLE 11: ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT

	Three Months Ended										Six Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,		Jun 30,		Jun 30,
(In thousands)		2026		2026		2025		2025		2025		2026		2025
Provision for loan losses - Other	$25,837		$29,836		$14,369		$19,610		$26,607		$55,673		$53,433
Provision for unfunded lending-related commitments losses - Other	(2,666)		(239)		13,354		2,160		(4,325)		(2,905)		(7,177)
Provision for held-to-maturity securities losses	(37)		(3)		(135)		(2)		(48)		(40)		(59)
Provision for credit losses	$23,134		$29,594		$27,588		$21,768		$22,234		$52,728		$46,197
Allowance for loan losses	$402,952		$390,651		$379,283		$386,622		$391,654
Allowance for unfunded lending-related commitments losses	78,017		80,683		80,922		67,569		65,409
Allowance for loan losses and unfunded lending-related commitments losses	480,969		471,334		460,205		454,191		457,063
Allowance for held-to-maturity securities losses	220		257		260		395		398
Allowance for credit losses	$481,189		$471,591		$460,465		$454,586		$457,461

PCD - Purchase Credit Deteriorated

TABLE 12: ALLOWANCE BY LOAN PORTFOLIO

The table below summarizes the calculation of allowance for loan losses and allowance for unfunded lending-related commitments losses for the Company’s loan portfolios as well as core and niche portfolios, as of June 30, 2026, March 31, 2026 and December 31, 2025.

	As of Jun 30, 2026			As of Mar 31, 2026			As of Dec 31, 2025
(Dollars in thousands)	Recorded Investment	Calculated Allowance	% of its category’s balance	Recorded Investment	Calculated Allowance	% of its category’s balance	Recorded Investment	Calculated Allowance	% of its category’s balance
Commercial	$18,281,311	$234,809	1.28%	$17,763,221	$210,959	1.19%	$17,044,686	$178,545	1.05%
Commercial real estate:
Construction and development	2,655,665	67,343	2.54	2,323,942	74,092	3.19	2,409,582	93,106	3.86
Non-construction	11,614,942	142,605	1.23	11,838,344	150,778	1.27	11,531,154	153,827	1.33
Total commercial real estate	$14,270,607	$209,948	1.47%	$14,162,286	$224,870	1.59%	$13,940,736	$246,933	1.77%
Total commercial and commercial real estate	$32,551,918	$444,757	1.37%	$31,925,507	$435,829	1.37%	$30,985,422	$425,478	1.37%
Home equity	491,782	10,004	2.03	471,264	10,213	2.17	480,525	10,402	2.16
Residential real estate	4,542,692	13,257	0.29	4,465,166	13,081	0.29	4,317,232	12,519	0.29
Premium finance receivables - property & casualty	8,612,023	11,142	0.13	7,890,331	10,591	0.13	8,183,416	10,226	0.12
Premium finance receivables - life insurance	9,312,521	810	0.01	9,196,382	800	0.01	9,023,642	785	0.01
Consumer and other	144,011	999	0.69	122,642	820	0.67	114,864	795	0.69
Total loans, net of unearned income	$55,654,947	$480,969	0.86%	$54,071,292	$471,334	0.87%	$53,105,101	$460,205	0.87%
Total core loans	$32,716,938	$406,752	1.24%	$32,118,691	$408,892	1.27%	$31,309,210	$412,714	1.32%
Total niche loans	22,938,009	74,217	0.32	21,952,601	62,442	0.28	21,795,891	47,491	0.22

(1)See Table 1 for additional detail on core and niche loans.

TABLE 13: LOAN PORTFOLIO AGING

(In thousands)	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025
Loan Balances:
Commercial
Nonaccrual	$90,642	$87,750	$78,059	$66,577	$80,877
90+ days and still accruing	-	-	-	-	-
60-89 days past due	14,851	9,996	22,952	12,190	34,855
30-59 days past due	38,292	90,389	90,205	36,136	45,103
Current	18,137,526	17,575,086	16,853,470	16,429,439	16,226,596
Total commercial	$18,281,311	$17,763,221	$17,044,686	$16,544,342	$16,387,431
Commercial real estate
Nonaccrual	$17,220	$16,757	$25,147	$28,202	$32,828
90+ days and still accruing	-	-	-	-	-
60-89 days past due	14,879	17,133	19,529	14,119	11,257
30-59 days past due	60,451	54,143	65,601	83,055	51,173
Current	14,178,057	14,074,253	13,830,459	13,493,831	13,196,752
Total commercial real estate	$14,270,607	$14,162,286	$13,940,736	$13,619,207	$13,292,010
Home equity
Nonaccrual	$1,177	$1,142	$1,221	$1,295	$1,780
90+ days and still accruing	-	-	-	-	-
60-89 days past due	690	463	1,112	246	138
30-59 days past due	878	2,012	2,818	2,294	2,971
Current	489,037	467,647	475,374	480,367	461,926
Total home equity	$491,782	$471,264	$480,525	$484,202	$466,815
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies	$131,335	$145,225	$145,793	$124,824	$134,067
Nonaccrual	25,910	27,360	32,862	28,942	28,047
90+ days and still accruing	-	-	-	-	-
60-89 days past due	3,310	129	7,562	8,829	8,954
30-59 days past due	-	30,854	24,908	95	38
Current	4,382,137	4,261,598	4,106,107	3,981,180	3,777,676
Total residential real estate	$4,542,692	$4,465,166	$4,317,232	$4,143,870	$3,948,782
Premium finance receivables - property & casualty
Nonaccrual	$28,061	$33,891	$29,354	$24,512	$30,404
90+ days and still accruing	16,003	15,823	19,115	13,006	14,350
60-89 days past due	18,198	16,188	29,294	23,527	25,641
30-59 days past due	25,864	47,936	57,685	38,133	29,460
Current	8,523,897	7,776,493	8,047,968	8,267,114	8,223,321
Total Premium finance receivables - property & casualty	$8,612,023	$7,890,331	$8,183,416	$8,366,292	$8,323,176
Premium finance receivables - life insurance
Nonaccrual	$ -	$ -	$ -	$ -	$ -
90+ days and still accruing	-	-	-	-	327
60-89 days past due	2,908	22,690	13,887	34,016	11,202
30-59 days past due	8,606	58,760	22,806	34,506	34,403
Current	9,301,007	9,114,932	8,986,949	8,690,031	8,461,028
Total Premium finance receivables - life insurance	$9,312,521	$9,196,382	$9,023,642	$8,758,553	$8,506,960
Consumer and other
Nonaccrual	$113	$16	$8	$38	$41
90+ days and still accruing	145	10	42	60	184
60-89 days past due	195	130	466	49	61
30-59 days past due	1,253	230	643	159	175
Current	142,305	122,256	113,705	146,710	116,044
Total consumer and other	$144,011	$122,642	$114,864	$147,016	$116,505
Total loans, net of unearned income
Early buy-out loans guaranteed by U.S. government agencies	$131,335	$145,225	$145,793	$124,824	$134,067
Nonaccrual	163,123	166,916	166,651	149,566	173,977
90+ days and still accruing	16,148	15,833	19,157	13,066	14,861
60-89 days past due	55,031	66,729	94,802	92,976	92,108
30-59 days past due	135,344	284,324	264,666	194,378	163,323
Current	55,153,966	53,392,265	52,414,032	51,488,672	50,463,343
Total loans, net of unearned income	$55,654,947	$54,071,292	$53,105,101	$52,063,482	$51,041,679

(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

TABLE 14: NON-PERFORMING ASSETS

	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(Dollars in thousands)		2026		2026		2025		2025		2025
Loans past due greater than 90 days and still accruing:
Commercial	$ -		$ -		$ -		$ -		$ -
Commercial real estate	-		-		-		-		-
Home equity	-		-		-		-		-
Residential real estate	-		-		-		-		-
Premium finance receivables - property & casualty	16,003		15,823		19,115		13,006		14,350
Premium finance receivables - life insurance	-		-		-		-		327
Consumer and other	145		10		42		60		184
Total loans past due greater than 90 days and still accruing	16,148		15,833		19,157		13,066		14,861
Non-accrual loans:
Commercial	90,642		87,750		78,059		66,577		80,877
Commercial real estate	17,220		16,757		25,147		28,202		32,828
Home equity	1,177		1,142		1,221		1,295		1,780
Residential real estate	25,910		27,360		32,862		28,942		28,047
Premium finance receivables - property & casualty	28,061		33,891		29,354		24,512		30,404
Premium finance receivables - life insurance	-		-		-		-		-
Consumer and other	113		16		8		38		41
Total non-accrual loans	163,123		166,916		166,651		149,566		173,977
Total non-performing loans:
Commercial	90,642		87,750		78,059		66,577		80,877
Commercial real estate	17,220		16,757		25,147		28,202		32,828
Home equity	1,177		1,142		1,221		1,295		1,780
Residential real estate	25,910		27,360		32,862		28,942		28,047
Premium finance receivables - property & casualty	44,064		49,714		48,469		37,518		44,754
Premium finance receivables - life insurance	-		-		-		-		327
Consumer and other	258		26		50		98		225
Total non-performing loans	$179,271		$182,749		$185,808		$162,632		$188,838
Other real estate owned	15,940		17,439		20,839		24,832		23,615
Total non-performing assets	$195,211		$200,188		$206,647		$187,464		$212,453
Total non-performing loans by category as a percent of its own respective category’s period-end balance:
Commercial	0.50%		0.49%		0.46%		0.40%		0.49%
Commercial real estate	0.12		0.12		0.18		0.21		0.25
Home equity	0.24		0.24		0.25		0.27		0.38
Residential real estate	0.57		0.61		0.76		0.70		0.71
Premium finance receivables - property & casualty	0.51		0.63		0.59		0.45		0.54
Premium finance receivables - life insurance	-		-		-		-		0.00
Consumer and other	0.18		0.02		0.04		0.07		0.19
Total loans, net of unearned income	0.32%		0.34%		0.35%		0.31%		0.37%
Total non-performing assets as a percentage of total assets	0.26%		0.28%		0.29%		0.27%		0.31%
Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans	294.85%		282.38%		276.15%		303.67%		262.71%

(1)Excludes early buy-out loans guaranteed by U.S. government agencies. Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies

	Three Months Ended								Six Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,	Jun 30,			Jun 30,
(In thousands)		2026		2026	2025		2025		2025		2026		2025
Balance at beginning of period	$182,749		$185,808			$162,632		$188,838		$172,390		$185,808		$170,823
Additions from becoming non-performing in the respective period	31,070		24,969			46,198		34,805		48,651		56,039		76,372
Return to performing status	(1,671)		(3,663)			(2,937)		(3,399)		(6,896)		(5,334)		(8,103)
Payments received	(19,503)		(13,780)			(13,734)		(28,052)		(5,602)		(33,283)		(21,567)
Transfer to OREO or other assets	-		(868)			(286)		(348)		(2,247)		(868)		(2,247)
Charge-offs, net	(7,860)		(10,930)			(16,998)		(21,526)		(11,734)		(18,790)		(20,334)
Net change for premium finance receivables	(5,514)		1,213			10,933		(7,686)		(5,724)		(4,301)		(6,106)
Balance at end of period	$179,271		$182,749			$185,808		$162,632		$188,838		$179,271		$188,838

Other Real Estate Owned

	Three Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(In thousands)		2026		2026		2025		2025		2025
Balance at beginning of period	$17,439		$20,839		$24,832		$23,615		$22,625
Disposals/resolved	(1,499)		(4,760)		(2,141)		-		-
Transfers in at fair value, less costs to sell	-		1,360		-		1,217		1,315
Fair value adjustments	-		-		(1,852)		-		(325)
Balance at end of period	$15,940		$17,439		$20,839		$24,832		$23,615
	Period End
(In thousands)	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
Balance by Property Type:		2026		2026		2025		2025		2025
Residential real estate	$ -		$ -		$ -		$ -		$ -
Commercial real estate	15,940		17,439		20,839		24,832		23,615
Total	$15,940		$17,439		$20,839		$24,832		$23,615

TABLE 15: NON-INTEREST INCOME

	Three Months Ended										Q2 2026 compared to Q1 2026			Q2 2026 compared to Q2 2025
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(Dollars in thousands)		2026		2026		2025		2025		2025	$ Change	% Change		$ Change	% Change
Brokerage	$4,985		$5,301		$5,384		$4,426		$4,212		$(316)	(6)%		$773	18%
Trust and asset management	34,898		36,758		33,981		32,762		32,609		(1,860)	(5)		2,289	7
Total wealth management	39,883		42,059		39,365		37,188		36,821		(2,176)	(5)		3,062	8
Mortgage banking	27,438		23,396		22,625		24,451		23,170		4,042	17		4,268	18
Service charges on deposit accounts	21,240		20,970		20,402		19,825		19,502		270	1		1,738	9
Gains (losses) on investment securities, net	1,845		(31)		1,505		2,972		650		1,876		NM	1,195		NM
Fees from covered call options	4,793		4,669		5,992		5,619		5,624		124	3		(831)		(15)
Trading gains (losses), net	70		10		(257)		172		151		60		NM	(81)		(54)
Operating lease income, net	18,804		19,154		16,365		15,466		15,166		(350)	(2)		3,638	24
Other:
Interest rate swap fees	3,117		4,041		4,664		3,909		3,010		(924)	(23)		107	4
BOLI	3,216		948		1,915		1,591		2,257		2,268		NM	959	42
Administrative services	1,341		1,243		1,352		1,240		1,315		98	8		26	2
Foreign currency remeasurement gains (losses)	253		(368)		322		(416)		658		621		NM	(405)		(62)
Changes in fair value on EBOs and loans held-for-investment	(373)		(287)		(1,702)		1,452		172		(86)	(30)		(545)		NM
Early pay-offs of capital leases	1,054		1,198		581		519		400		(144)		(12)	654		NM
Miscellaneous	18,588		17,140		17,261		16,839		15,193		1,448	8		3,395	22
Total Other	27,196		23,915		24,393		25,134		23,005		3,281	14		4,191	18
Total Non-Interest Income	$141,269		$134,142		$130,390		$130,827		$124,089		$7,127	5%		$17,180	14%

	Six Months Ended				2026 compared to 2025
	Jun 30,		Jun 30,
(Dollars in thousands)		2026		2025	$ Change	% Change
Brokerage	$10,286		$8,969		$1,317	15%
Trust and asset management	71,656		61,894		9,762	16
Total wealth management	81,942		70,863		11,079	16
Mortgage banking	50,834		43,699		7,135	16
Service charges on deposit accounts	42,210		38,864		3,346	9
Gains on investment securities, net	1,814		3,846		(2,032)		(53)
Fees from covered call options	9,462		9,070		392		4
Trading gains, net	80		87		(7)		(8)
Operating lease income, net	37,958		30,453		7,505	25
Other:
Interest rate swap fees	7,158		5,279		1,879	36
BOLI	4,164		3,053		1,111	36
Administrative services	2,584		2,708		(124)	(5)
Foreign currency remeasurement (losses) gains	(115)		475		(590)		NM
Changes in fair value on EBOs and loans held-for-investment	(660)		555		(1,215)		NM
Early pay-offs of capital leases	2,252		1,168		1,084	93
Miscellaneous	35,728		30,603		5,125	17
Total Other	51,111		43,841		7,270	17
Total Non-Interest Income	$275,411		$240,723		$34,688	14%

NM - Not meaningful.

BOLI - Bank-owned life insurance.

EBO - Early buy-out.

TABLE 16: MORTGAGE BANKING

	Three Months Ended
(Dollars in thousands)	Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025
Originations:
Retail originations	$660,325		$441,749		$589,139		$505,793		$523,759
Veterans First originations	174,644		152,244		208,054		137,600		157,787
Total originations for sale (A)	$834,969		$593,993		$797,193		$643,393		$681,546
Originations for investment	315,487		371,540		364,988		351,012		422,926
Total originations	$1,150,456		$965,533		$1,162,181		$994,405		$1,104,472
As a percentage of originations for sale:
Retail originations	79%		74%		74%		79%		77%
Veterans First originations	21		26		26		21		23
Purchases	74%		52%		52%		77%		74%
Refinances	26		48		48		23		26
Production Margin:
Production revenue (B)	$13,150		$13,028		$10,878		$15,388		$13,380
Total originations for sale (A)	$834,969		$593,993		$797,193		$643,393		$681,546
Add: Current period end mandatory interest rate lock commitments to fund originations for sale	171,656		218,156		122,804		307,932		163,664
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale	218,156		122,804		307,932		163,664		197,297
Total mortgage production volume (C)	$788,469		$689,345		$612,065		$787,661		$647,913
Production margin (B / C)	1.67%		1.89%		1.78%		1.95%		2.07%
Mortgage Servicing:
Loans serviced for others (D)		$12,669,679		$12,534,513		$12,608,694		$12,524,131		$12,470,924
Mortgage Servicing Rights (“MSR”), at fair value (E)		201,903		195,276		195,023		190,938		193,061
Percentage of MSRs to loans serviced for others (E / D)	1.59%		1.56%		1.55%		1.52%		1.55%
Servicing income	$10,724		$10,353		$10,185		$10,112		$10,520
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period	$195,276		$195,023		$190,938		$193,061		$196,307
MSR - current period capitalization	8,745		6,434		9,150		5,829		6,336
MSR - collection of expected cash flows - paydowns	(1,684)		(1,620)		(1,550)		(1,554)		(1,516)
MSR - collection of expected cash flows - payoffs and repurchases	(4,815)		(5,021)		(6,250)		(4,050)		(4,100)
MSR - changes in fair value model assumptions	4,381		460		2,735		(2,348)		(3,966)
MSR Fair Value at end of period	$201,903		$195,276		$195,023		$190,938		$193,061
Summary of Mortgage Banking Revenue:
Operational:
Production revenue	$13,150		$13,028		$10,878		$15,388		$13,380
MSR - Current period capitalization	8,745		6,434		9,150		5,829		6,336
MSR - Collection of expected cash flows - paydowns	(1,684)		(1,620)		(1,550)		(1,554)		(1,516)
MSR - Collection of expected cash flows - payoffs and repurchases	(4,815)		(5,021)		(6,250)		(4,050)		(4,100)
Servicing Income	10,724		10,353		10,185		10,112		10,520
Other Revenue	72		(45)		(17)		(345)		(79)
Total operational mortgage banking revenue	$26,192		$23,129		$22,396		$25,380		$24,541
Fair Value:
MSR - changes in fair value model assumptions	$4,381		$460		$2,735		$(2,348)		$(3,966)
(Loss) gain on derivative contract held as an economic hedge, net	(3,396)		(900)		(2,425)		265		2,535
Changes in FV on early buy-out loans guaranteed by US Govt held-for-sale	261		707		(81)		1,154		60
Total fair value mortgage banking revenue	$1,246		$267		$229		$(929)		$(1,371)
Total mortgage banking revenue	$27,438		$23,396		$22,625		$24,451		$23,170

(1)Production revenue represents revenue earned from the origination and subsequent sale of mortgages, including gains on loans sold and fees from originations, changes in other related financial instruments carried at fair value, processing and other related activities, and excludes servicing fees, changes in the fair value of servicing rights and changes to the mortgage recourse obligation and other non-production revenue.

(2)Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.


(Dollars in thousands)	Jun 30, 2026		Jun 30, 2025
Originations:
Retail originations	$1,102,074		$872,227
Veterans First originations	326,888		269,772
Total originations for sale (A)	$1,428,962		$1,141,999
Originations for investment	687,027		640,103
Total originations	$2,115,989		$1,782,102
As a percentage of originations for sale:
Retail originations	77%		76%
Veterans First originations	23		24
Purchases	65%		75%
Refinances	35		25
Production Margin:
Production revenue (B)	$26,178		$23,321
Total originations for sale (A)	$1,428,962		$1,141,999
Add: Current period end mandatory interest rate lock commitments to fund originations for sale	171,656		163,664
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale	122,804		103,946
Total mortgage production volume (C)	$1,477,814		$1,201,717
Production margin (B / C)	1.77%		1.94%
Mortgage Servicing:
Loans serviced for others (D)		$12,669,679		$12,470,924
MSRs, at fair value (E)		201,903		193,061
Percentage of MSRs to loans serviced for others (E / D)	1.59%		1.55%
Servicing income	$21,077		$21,131
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period	$195,023		$203,788
MSR - current period capitalization	15,179		11,005
MSR - collection of expected cash flows - paydowns	(3,304)		(3,106)
MSR - collection of expected cash flows - payoffs and repurchases	(9,836)		(7,146)
MSR - changes in fair value model assumptions	4,841		(11,480)
MSR Fair Value at end of period	$201,903		$193,061
Summary of Mortgage Banking Revenue:
Operational:
Production revenue	$26,178		$23,321
MSR - Current period capitalization	15,179		11,005
MSR - Collection of expected cash flows - paydowns	(3,304)		(3,106)
MSR - Collection of expected cash flows - payoffs and repurchases	(9,836)		(7,146)
Servicing Income	21,077		21,131
Other Revenue	27		(251)
Total operational mortgage banking revenue	$49,321		$44,954
Fair Value:
MSR - changes in fair value model assumptions	$4,841		$(11,480)
(Loss) gain on derivative contract held as an economic hedge, net	(4,296)		7,432
Changes in FV on early buy-out loans guaranteed by US Govt held-for-sale	968		2,793
Total fair value mortgage banking revenue	$1,513		$(1,255)
Total mortgage banking revenue	$50,834		$43,699

(2)Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.

TABLE 17: NON-INTEREST EXPENSE

	Three Months Ended										Q2 2026 compared to Q1 2026			Q2 2026 compared to Q2 2025
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,
(Dollars in thousands)		2026		2026		2025		2025		2025	$ Change	% Change		$ Change	% Change
Salaries and employee benefits:
Salaries	$129,875		$129,086		$124,856		$124,623		$123,174		$789	1%		$6,701	5%
Commissions and incentive compensation	62,463		57,407		57,117		56,244		55,871		5,056	9		6,592	12
Benefits	41,751		41,954		40,584		38,801		40,496		(203)	-		1,255	3
Total salaries and employee benefits	234,089		228,447		222,557		219,668		219,541		5,642	2		14,548	7
Software and equipment	39,288		35,654		36,096		35,027		36,522		3,634	10		2,766	8
Operating lease equipment	11,187		10,987		11,034		10,409		10,757		200	2		430	4
Occupancy, net	21,153		20,566		20,105		20,809		20,228		587	3		925	5
Data processing	10,659		11,266		11,809		11,329		12,110		(607)	(5)		(1,451)	(12)
Advertising and marketing	20,432		13,218		13,792		19,027		18,761		7,214	55		1,671	9
Professional fees	9,342		7,375		8,280		7,465		9,243		1,967	27		99	1
Amortization of other acquisition-related intangible assets	4,921		4,958		4,999		5,196		5,580		(37)	(1)		(659)		(12)
FDIC insurance	11,796		10,990		11,061		11,418		10,971		806	7		825	8
FDIC insurance - special assessment	(5,156)		-		(499)		-		-		(5,156)	(100)		(5,156)	(100)
OREO expense, net	786		207		2,162		262		505		579		NM	281		56
Other:
Lending expenses, net of deferred origination costs	6,165		6,510		6,367		6,169		4,869		(345)	(5)		1,296	27
Travel and entertainment	6,938		5,426		7,965		6,029		6,026		1,512	28		912	15
Miscellaneous	25,937		27,028		28,725		27,220		26,348		(1,091)	(4)		(411)	(2)
Total other	39,040		38,964		43,057		39,418		37,243		76	-		1,797	5
Total Non-Interest Expense	$397,537		$382,632		$384,453		$380,028		$381,461		$14,905	4%		$16,076	4%

	Six Months Ended				2026 compared to 2025
	Jun 30,		Jun 30,
(Dollars in thousands)		2026		2025	$ Change	% Change
Salaries and employee benefits:
Salaries	$258,961		$247,091		$11,870	5%
Commissions and incentive compensation	119,870		108,407		11,463	11
Benefits	83,705		75,569		8,136	11
Total salaries and employee benefits	462,536		431,067		31,469	7
Software and equipment	74,942		71,239		3,703	5
Operating lease equipment	22,174		21,228		946	4
Occupancy, net	41,719		41,006		713	2
Data processing	21,925		23,384		(1,459)	(6)
Advertising and marketing	33,650		31,033		2,617	8
Professional fees	16,717		18,287		(1,570)	(9)
Amortization of other acquisition-related intangible assets	9,879		11,198		(1,319)		(12)
FDIC insurance	22,786		21,897		889	4
FDIC insurance - special assessment	(5,156)		-		(5,156)		(100)
OREO expense, net	993		1,148		(155)		(14)
Other:
Lending expenses, net of deferred origination costs	12,675		10,735		1,940	18
Travel and entertainment	12,364		11,296		1,068	9
Miscellaneous	52,965		54,033		(1,068)	(2)
Total other	78,004		76,064		1,940	3
Total Non-Interest Expense	$780,169		$747,551		$32,618	4%

NM - Not meaningful.

TABLE 18: SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES/RATIOS

The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. These include taxable-equivalent net interest income (including its individual components), taxable-equivalent net interest margin (including its individual components), the taxable-equivalent efficiency ratio, tangible common equity ratio, tangible book value per common share, return on average tangible common equity, and pre-tax income, excluding provision for credit losses. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company’s interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

Management reviews yields on certain asset categories and the net interest margin of the Company and its banking subsidiaries on a fully taxable-equivalent basis (“FTE”). In this non-GAAP presentation, net interest income is adjusted to reflect tax-exempt interest income on an equivalent before-tax basis using tax rates effective as of the end of the period. This measure ensures comparability of net interest income arising from both taxable and tax-exempt sources. Net interest income on a FTE basis is also used in the calculation of the Company’s efficiency ratio. The efficiency ratio, which is calculated by dividing non-interest expense by total taxable-equivalent net revenue (less securities gains or losses), measures how much it costs to produce one dollar of revenue. Securities gains or losses are excluded from this calculation to better match revenue from daily operations to operational expenses. Management considers the tangible common equity ratio and tangible book value per common share as useful measurements of the Company’s equity. The Company references the return on average tangible common equity as a measurement of profitability. Management considers pre-tax income, excluding provision for credit losses, as a useful measurement of the Company’s core net income.

	Three Months Ended										Six Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,		Jun 30,		Jun 30,
(Dollars and shares in thousands)		2026		2026		2025		2025		2025		2026		2025
Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
(A) Interest Income (GAAP)	$961,412		$927,560		$956,326		$963,834		$920,908		$1,888,972		$1,807,873
Taxable-equivalent adjustment:
- Loans	2,111		2,026		2,134		2,154		2,200		4,137		4,406
- Liquidity Management Assets	630		586		661		675		680		1,216		1,370
- Other Earning Assets	-		-		-		-		-		-		3
(B) Interest Income (non-GAAP)	$964,153		$930,172		$959,121		$966,663		$923,788		$1,894,325		$1,813,652
(C) Interest Expense (GAAP)	364,046		348,536		372,452		396,824		374,214		712,582		734,705
(D) Net Interest Income (GAAP) (A minus C)	597,366		579,024		583,874		567,010		546,694		1,176,390		1,073,168
(E) Net Interest Income (non-GAAP) (B minus C)	600,107		581,636		586,669		569,839		549,574		1,181,743		1,078,947
Net interest margin (GAAP)	3.50%		3.54%		3.52%		3.48%		3.52%		3.52%		3.53%
Net interest margin, fully taxable-equivalent (non-GAAP)	3.52		3.56		3.54		3.50		3.54		3.54		3.55
(F) Non-interest income	$141,269		$134,142		$130,390		$130,827		$124,089		$275,411		$240,723
(G) Gains (losses) on investment securities, net	1,845		(31)		1,505		2,972		650		1,814		3,846
(H) Non-interest expense	397,537		382,632		384,453		380,028		381,461		780,169		747,551
Efficiency ratio (H/(D+F-G))	53.96%		53.65%		53.94%		54.69%		56.92%		53.81%		57.06%
Efficiency ratio (non-GAAP) (H/(E+F-G))	53.76		53.45		53.73		54.47		56.68		53.61		56.81

	Three Months Ended										Six Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,		Jun 30,	Jun 30,
(Dollars and shares in thousands)		2026		2026		2025		2025		2025	2026	2025
Reconciliation of Non-GAAP Tangible Common Equity Ratio:
Total shareholders’ equity (GAAP)		$7,525,116		$7,378,100		$7,258,715		$7,045,757		$7,225,696
Less: Non-convertible preferred stock (GAAP)		(425,000)		(425,000)		(425,000)		(425,000)		(837,500)
Less: Acquisition-related intangible assets (GAAP)		(885,338)		(890,698)		(895,959)		(902,936)		(908,639)
(I) Total tangible common shareholders’ equity (non-GAAP)		$6,214,778		$6,062,402		$5,937,756		$5,717,821		$5,479,557
(J) Total assets (GAAP)		$74,668,135		$72,157,433		$71,142,046		$69,629,638		$68,983,318
Less: Acquisition-related intangible assets (GAAP)		(885,338)		(890,698)		(895,959)		(902,936)		(908,639)
(K) Total tangible assets (non-GAAP)		$73,782,797		$71,266,735		$70,246,087		$68,726,702		$68,074,679
Common equity to assets ratio (GAAP) (L/J)	9.5%		9.6%		9.6%		9.5%		9.3%
Tangible common equity ratio (non-GAAP) (I/K)	8.4		8.5		8.5		8.3		8.0

Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity	$7,525,116	$7,378,100	$7,258,715	$7,045,757	$7,225,696
Less: Non-convertible preferred stock (GAAP)	(425,000)	(425,000)	(425,000)	(425,000)	(837,500)
(L) Total common equity	$7,100,116	$6,953,100	$6,833,715	$6,620,757	$6,388,196
(M) Actual common shares outstanding	67,455	67,437	66,975	66,961	66,938
Book value per common share (L/M)	$105.26	$103.10	$102.03	$98.87	$95.43
Tangible book value per common share (non-GAAP) (I/M)	92.13	89.90	88.66	85.39	81.86
Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
(N) Net income applicable to common shares	$225,326	$219,021	$214,657	$188,913	$188,536	$444,347	$370,584
Add: Acquisition-related intangible asset amortization	4,921	4,958	4,999	5,196	5,580	9,879	11,198
Less: Tax effect of acquisition-related intangible asset amortization	(1,304)	(1,210)	(1,310)	(1,403)	(1,495)	(2,519)	(2,923)
After-tax Acquisition-related intangible asset amortization	$3,617	$3,748	$3,689	$3,793	$4,085	$7,360	$8,275
(O) Tangible net income applicable to common shares (non-GAAP)	$228,943	$222,769	$218,346	$192,706	$192,621	$451,707	$378,859
Total average shareholders’ equity	$7,474,449	$7,387,713	$7,166,608	$6,955,543	$6,862,040	$7,431,321	$6,662,598
Less: Average preferred stock	(425,000)	(425,000)	(425,000)	(483,288)	(599,313)	(425,000)	(506,423)
(P) Total average common shareholders’ equity	$7,049,449	$6,962,713	$6,741,608	$6,472,255	$6,262,727	$7,006,321	$6,156,175
Less: Average acquisition-related intangible assets	(889,059)	(894,211)	(901,022)	(906,032)	(910,924)	(891,620)	(913,483)
(Q) Total average tangible common shareholders’ equity (non-GAAP)	$6,160,390	$6,068,502	$5,840,586	$5,566,223	$5,351,803	$6,114,701	$5,242,692
Return on average common equity, annualized (N/P)	12.82%	12.76%	12.63%	11.58%	12.07%	12.79%	12.14%
Return on average tangible common equity, annualized (non-GAAP) (O/Q)	14.91	14.89	14.83	13.74	14.44	14.90	14.57
Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:
Income before taxes	$317,964	$300,940	$302,223	$296,041	$267,088	$618,904	$520,143
Add: Provision for credit losses	23,134	29,594	27,588	21,768	22,234	52,728	46,197
Pre-tax income, excluding provision for credit losses (non-GAAP)	$341,098	$330,534	$329,811	$317,809	$289,322	$671,632	$566,340

	Three Months Ended										Six Months Ended
	Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,		Jun 30,		Jun 30,
(Dollars and shares in thousands, except per share data)		2026		2026		2025		2025		2025		2026		2025
Reconciliation of Non-GAAP Net Income per Common Share:
Net income	$233,693		$227,388		$223,024		$216,254		$195,527		$461,081		$384,566
Preferred stock dividends	8,367		8,367		8,367		13,295		6,991		16,734		13,982
Preferred stock redemption	-		-		-		14,046		-		-		-
(R) Net income applicable to common shares	$225,326		$219,021		$214,657		$188,913		$188,536		$444,347		$370,584
(S) Weighted average common shares outstanding	67,434		67,246		66,970		66,952		66,931		67,341		66,829
Dilutive potential common shares	852		851		1,143		1,028		888		852		903
(T) Average common shares and dilutive common shares	68,286		68,097		68,113		67,980		67,819		68,193		67,732
Net income per common share - Basic (R/S)	$3.34		$3.26		$3.21		$2.82		$2.82		$6.60		$5.55
Net income per common share - Diluted (R/T)	$3.30		$3.22		$3.15		$2.78		$2.78		$6.52		$5.47
Preferred stock series F excess one-time extended first dividend	$ -		$ -		$ -		$4,927		$ -		$ -		$ -
Preferred stock redemption	-		-		-		14,046		-		-		-
(U) Total non-recurring preferred stock offering impact (non-GAAP)	$ -		$ -		$ -		$18,973		$ -		$ -		$ -
Net income per common share - Basic (non-GAAP) (R+U)/S	$3.34		$3.26		$3.21		$3.11		$2.82		$6.60		$5.55
Net income per common share - Diluted (non-GAAP) (R+U)/T	$3.30		$3.22		$3.15		$3.06		$2.78		$6.52		$5.47

WINTRUST SUBSIDIARIES

Wintrust is a financial holding company whose common stock is traded on the Nasdaq Global Select Market (Nasdaq: WTFC) that operates bank retail locations in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. Its 16 community bank subsidiaries are: Barrington Bank & Trust Company, N.A., Beverly Bank & Trust Company, N.A., Crystal Lake Bank & Trust Company, N.A., Hinsdale Bank & Trust Company, N.A., Lake Forest Bank & Trust Company, N.A., Libertyville Bank & Trust Company, N.A., Macatawa Bank, N.A., Northbrook Bank & Trust Company, N.A., Old Plank Trail Community Bank, N.A., Schaumburg Bank & Trust Company, N.A., St. Charles Bank & Trust Company, N.A., State Bank of The Lakes, N.A., Town Bank, N.A., Village Bank & Trust, N.A., Wheaton Bank & Trust Company, N.A., and Wintrust Bank, N.A.

Additionally, the Company operates various non-bank businesses:

FIRST Insurance Funding and Wintrust Life Finance, each a division of Lake Forest Bank & Trust Company, N.A., serve property and casualty and life insurance loan customers, respectively, throughout the United States.
First Insurance Funding of Canada serves property and casualty insurance loan customers throughout Canada.
Tricom, Inc. of Milwaukee provides high-yielding, short-term accounts receivable financing and value-added out-sourced administrative services, such as data processing of payrolls, billing and cash management services, to temporary staffing service clients located throughout the United States.
Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., engages primarily in the origination and purchase of residential mortgages for sale into the secondary market through origination offices located throughout the United States.
Wintrust Investments, LLC provides a full range of private client and brokerage services to clients and correspondent banks located primarily in the Midwest.
Great Lakes Advisors LLC provides money management services and advisory services to individual accounts.
Wintrust Private Trust Company, N.A., a trust subsidiary, allows Wintrust to service customers’ trust and investment needs at each banking location.
Wintrust Asset Finance offers direct leasing opportunities.
CDEC provides Qualified Intermediary services (as defined by U.S. Treasury regulations) for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031.

FORWARD-LOOKING STATEMENTS

Forward-looking statements notice

This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2025 Annual Report on Form 10-K and in any of the Company’s subsequent Securities and Exchange Commission filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company’s financial condition and results of operations from expected developments or events, the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices. Actual results could differ materially from those addressed in the forward-looking statements as a result of numerous factors and uncertainties, including the following:

economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government shutdown, debt default or rating downgrade, particularly in the markets in which it operates;
negative effects suffered by us or our customers resulting from changes in U.S. or international trade policies;
the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses;
estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period;
the financial success and economic viability of the borrowers of our commercial loans;
commercial real estate market conditions in the Chicago metropolitan area, southern Wisconsin and west Michigan;
the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses;
inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio;
changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities;
the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability;
competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products;
failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions;
unexpected difficulties and losses related to FDIC-assisted acquisitions;
harm to the Company’s reputation;
any negative perception of the Company’s financial strength;
ability of the Company to raise additional capital on acceptable terms when needed;
disruption in capital markets, which may lower fair values for the Company’s investment portfolio;
ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith;
failure or breaches of our security systems or infrastructure, or those of third parties;
security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft;
adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware);
adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors;
increased costs as a result of protecting our customers from the impact of stolen debit card information;
accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions;
ability of the Company to attract and retain senior management experienced in the banking and financial services industries;
environmental liability risk associated with lending activities;
the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation;
losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith;
the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank;
the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns;
the expenses and delayed returns inherent in opening new branches and de novo banks;
liabilities, potential customer loss or reputational harm related to closings of existing branches;
examinations and challenges by tax authorities, and any unanticipated impact of tax legislation;
changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements;
the ability of the Company to receive dividends from its subsidiaries;
a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise;
legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies;
changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity;
a lowering of our credit rating;
changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise;
regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business;
increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment;
the impact of heightened capital requirements;
increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC;
delinquencies or fraud with respect to the Company’s premium finance business;
credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans;
the Company’s ability to comply with covenants under its credit facility;
fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and
widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change.

Therefore, there can be no assurances that future actual results will correspond to any forward-looking statement. The reader is cautioned not to place undue reliance on any forward-looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases.

CONFERENCE CALL, WEBCAST AND REPLAY

The Company will hold a conference call on Tuesday, July 21, 2026 at 10:00 a.m. (CDT) regarding second quarter and year-to-date 2026 earnings results. Individuals interested in participating in the call by addressing questions to management should register for the call to receive the dial-in numbers and unique PIN at the Conference Call Link included within the Company’s press release dated June 30, 2026 available at the Investor Relations, News and Events, News link on its website at https://www.wintrust.com. A separate simultaneous audio-only webcast link is included within the press release referenced above. Registration for and a replay of the audio-only webcast with an accompanying slide presentation will be available at https://www.wintrust.com, Investor Relations, News and Events, Events and Presentations link. The text of the second quarter and year-to-date 2026 earnings press release will also be available on the home page of the Company’s website at https://www.wintrust.com and at the Investor Relations, News and Events, News link on its website.