wtfc-20250630 0001015328 12/31 2025 Q2 false http://fasb.org/us-gaap/2025#InterestReceivableAndOtherAssets http://fasb.org/us-gaap/2025#InterestReceivableAndOtherAssets http://fasb.org/us-gaap/2025#InterestReceivableAndOtherAssets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 http://www.wintrust.com/20250630#RevenuesMortgageBanking http://www.wintrust.com/20250630#RevenuesMortgageBanking 0.001 0.001 xbrli:shares iso4217:USD iso4217:USD xbrli:shares wtfc:branch wtfc:security xbrli:pure iso4217:CAD wtfc:segment wtfc:subsidiary wtfc:derivativeInstrument wtfc:year 0001015328 2025-01-01 2025-06-30 0001015328 us-gaap:CommonStockMember 2025-01-01 2025-06-30 0001015328 wtfc:DepositarySharesSeriesFPreferredStockMember 2025-01-01 2025-06-30 0001015328 2025-07-31 0001015328 2025-06-30 0001015328 2024-12-31 0001015328 2024-06-30 0001015328 us-gaap:LoansAndFinanceReceivablesMember 2025-06-30 0001015328 us-gaap:LoansAndFinanceReceivablesMember 2024-12-31 0001015328 us-gaap:LoansAndFinanceReceivablesMember 2024-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2025-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2024-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2024-12-31 0001015328 us-gaap:SeriesEPreferredStockMember 2025-06-30 0001015328 us-gaap:SeriesEPreferredStockMember 2024-06-30 0001015328 us-gaap:SeriesEPreferredStockMember 2024-12-31 0001015328 us-gaap:SeriesFPreferredStockMember 2024-12-31 0001015328 us-gaap:SeriesFPreferredStockMember 2025-06-30 0001015328 us-gaap:SeriesFPreferredStockMember 2024-06-30 0001015328 2025-04-01 2025-06-30 0001015328 2024-04-01 2024-06-30 0001015328 2024-01-01 2024-06-30 0001015328 us-gaap:PreferredStockMember 2024-03-31 0001015328 us-gaap:CommonStockMember 2024-03-31 0001015328 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001015328 us-gaap:TreasuryStockCommonMember 2024-03-31 0001015328 us-gaap:RetainedEarningsMember 2024-03-31 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001015328 2024-03-31 0001015328 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-01 2024-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2024-04-01 2024-06-30 0001015328 us-gaap:SeriesEPreferredStockMember 2024-04-01 2024-06-30 0001015328 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommonStockMember 2024-04-01 2024-06-30 0001015328 us-gaap:TreasuryStockCommonMember 2024-04-01 2024-06-30 0001015328 us-gaap:PreferredStockMember 2024-06-30 0001015328 us-gaap:CommonStockMember 2024-06-30 0001015328 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001015328 us-gaap:TreasuryStockCommonMember 2024-06-30 0001015328 us-gaap:RetainedEarningsMember 2024-06-30 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001015328 us-gaap:PreferredStockMember 2023-12-31 0001015328 us-gaap:CommonStockMember 2023-12-31 0001015328 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001015328 us-gaap:TreasuryStockCommonMember 2023-12-31 0001015328 us-gaap:RetainedEarningsMember 2023-12-31 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001015328 2023-12-31 0001015328 us-gaap:RetainedEarningsMember 2024-01-01 2024-06-30 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2024-01-01 2024-06-30 0001015328 us-gaap:SeriesEPreferredStockMember 2024-01-01 2024-06-30 0001015328 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommonStockMember 2024-01-01 2024-06-30 0001015328 us-gaap:TreasuryStockCommonMember 2024-01-01 2024-06-30 0001015328 us-gaap:PreferredStockMember 2025-03-31 0001015328 us-gaap:CommonStockMember 2025-03-31 0001015328 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001015328 us-gaap:TreasuryStockCommonMember 2025-03-31 0001015328 us-gaap:RetainedEarningsMember 2025-03-31 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-03-31 0001015328 2025-03-31 0001015328 us-gaap:RetainedEarningsMember 2025-04-01 2025-06-30 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-04-01 2025-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2025-04-01 2025-06-30 0001015328 us-gaap:SeriesEPreferredStockMember 2025-04-01 2025-06-30 0001015328 us-gaap:AdditionalPaidInCapitalMember 2025-04-01 2025-06-30 0001015328 us-gaap:PreferredStockMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommonStockMember 2025-04-01 2025-06-30 0001015328 us-gaap:PreferredStockMember 2025-06-30 0001015328 us-gaap:CommonStockMember 2025-06-30 0001015328 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001015328 us-gaap:TreasuryStockCommonMember 2025-06-30 0001015328 us-gaap:RetainedEarningsMember 2025-06-30 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-06-30 0001015328 us-gaap:PreferredStockMember 2024-12-31 0001015328 us-gaap:CommonStockMember 2024-12-31 0001015328 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001015328 us-gaap:TreasuryStockCommonMember 2024-12-31 0001015328 us-gaap:RetainedEarningsMember 2024-12-31 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0001015328 us-gaap:RetainedEarningsMember 2025-01-01 2025-06-30 0001015328 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-06-30 0001015328 us-gaap:SeriesDPreferredStockMember 2025-01-01 2025-06-30 0001015328 us-gaap:SeriesEPreferredStockMember 2025-01-01 2025-06-30 0001015328 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-06-30 0001015328 us-gaap:PreferredStockMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommonStockMember 2025-01-01 2025-06-30 0001015328 us-gaap:TreasuryStockCommonMember 2025-01-01 2025-06-30 0001015328 wtfc:MacatawaBankCorporationMember wtfc:MacatawaBankCorporationMember 2024-08-01 0001015328 wtfc:MacatawaBankCorporationMember 2024-08-01 2024-08-01 0001015328 wtfc:MacatawaBankCorporationMember 2024-08-01 0001015328 wtfc:MacatawaBankCorporationMember 2024-08-01 0001015328 us-gaap:USTreasurySecuritiesMember 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2025-06-30 0001015328 us-gaap:MunicipalBondsMember 2025-06-30 0001015328 wtfc:CorporateFinancialDebtSecuritiesMember 2025-06-30 0001015328 wtfc:CorporateOtherDebtSecuritiesMember 2025-06-30 0001015328 us-gaap:ResidentialMortgageBackedSecuritiesMember 2025-06-30 0001015328 us-gaap:CommercialMortgageBackedSecuritiesMember 2025-06-30 0001015328 us-gaap:CollateralizedMortgageObligationsMember 2025-06-30 0001015328 us-gaap:CorporateAndOtherMember 2025-06-30 0001015328 wtfc:MortgageBackedSecuritiesSubprimeMember 2025-06-30 0001015328 us-gaap:USTreasurySecuritiesMember 2024-12-31 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2024-12-31 0001015328 us-gaap:MunicipalBondsMember 2024-12-31 0001015328 wtfc:CorporateFinancialDebtSecuritiesMember 2024-12-31 0001015328 wtfc:CorporateOtherDebtSecuritiesMember 2024-12-31 0001015328 us-gaap:ResidentialMortgageBackedSecuritiesMember 2024-12-31 0001015328 us-gaap:CommercialMortgageBackedSecuritiesMember 2024-12-31 0001015328 us-gaap:CollateralizedMortgageObligationsMember 2024-12-31 0001015328 us-gaap:CorporateAndOtherMember 2024-12-31 0001015328 wtfc:MortgageBackedSecuritiesSubprimeMember 2024-12-31 0001015328 us-gaap:USTreasurySecuritiesMember 2024-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2024-06-30 0001015328 us-gaap:MunicipalBondsMember 2024-06-30 0001015328 wtfc:CorporateFinancialDebtSecuritiesMember 2024-06-30 0001015328 wtfc:CorporateOtherDebtSecuritiesMember 2024-06-30 0001015328 us-gaap:ResidentialMortgageBackedSecuritiesMember 2024-06-30 0001015328 us-gaap:CommercialMortgageBackedSecuritiesMember 2024-06-30 0001015328 us-gaap:CollateralizedMortgageObligationsMember 2024-06-30 0001015328 us-gaap:CorporateAndOtherMember 2024-06-30 0001015328 wtfc:MortgageBackedSecuritiesSubprimeMember 2024-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember 2025-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember 2024-12-31 0001015328 us-gaap:AssetBackedSecuritiesMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember 2024-12-31 0001015328 us-gaap:CommercialPortfolioSegmentMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2024-12-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2024-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PremiumFinanceReceivablesLifeInsuranceMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PremiumFinanceReceivablesLifeInsuranceMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PremiumFinanceReceivablesLifeInsuranceMember 2024-06-30 0001015328 us-gaap:ConsumerPortfolioSegmentMember 2025-06-30 0001015328 us-gaap:ConsumerPortfolioSegmentMember 2024-12-31 0001015328 us-gaap:ConsumerPortfolioSegmentMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember 2025-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:FinancingReceivables60To89DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:FinancingReceivables30To59DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:FinancialAssetNotPastDueMember wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-06-30 0001015328 us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001015328 us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001015328 us-gaap:FinancialAssetNotPastDueMember 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember 2024-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2024-12-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember 2024-12-31 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 wtfc:EarlyBuyOutLoansMember 2024-12-31 0001015328 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2024-12-31 0001015328 us-gaap:FinancingReceivables60To89DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2024-12-31 0001015328 us-gaap:FinancingReceivables30To59DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2024-12-31 0001015328 us-gaap:FinancialAssetNotPastDueMember wtfc:EarlyBuyOutLoansMember 2024-12-31 0001015328 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-12-31 0001015328 us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-12-31 0001015328 us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-12-31 0001015328 us-gaap:FinancialAssetNotPastDueMember 2024-12-31 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ResidentialRealEstateLoansExcludingEarlyBuyOutLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:LifeInsuranceLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember 2024-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 wtfc:TotalFinancingReceivablePortfolioSegmentExcludingEarlyBuyOutLoansMember us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:EarlyBuyOutLoansMember 2024-06-30 0001015328 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2024-06-30 0001015328 us-gaap:FinancingReceivables60To89DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2024-06-30 0001015328 us-gaap:FinancingReceivables30To59DaysPastDueMember wtfc:EarlyBuyOutLoansMember 2024-06-30 0001015328 us-gaap:FinancialAssetNotPastDueMember wtfc:EarlyBuyOutLoansMember 2024-06-30 0001015328 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2024-06-30 0001015328 us-gaap:FinancingReceivables60To89DaysPastDueMember 2024-06-30 0001015328 us-gaap:FinancingReceivables30To59DaysPastDueMember 2024-06-30 0001015328 us-gaap:FinancialAssetNotPastDueMember 2024-06-30 0001015328 wtfc:CommercialIndustrialAndOtherPortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:CommercialIndustrialAndOtherPortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:CommercialIndustrialAndOtherPortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:CommercialIndustrialAndOtherPortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:CommercialIndustrialAndOtherPortfolioSegmentMember 2025-06-30 0001015328 wtfc:ConstructionAndDevelopmentPortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:ConstructionAndDevelopmentPortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:ConstructionAndDevelopmentPortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:ConstructionAndDevelopmentPortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:ConstructionAndDevelopmentPortfolioSegmentMember 2025-06-30 0001015328 wtfc:NonConstructionPortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:NonConstructionPortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:NonConstructionPortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:NonConstructionPortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:NonConstructionPortfolioSegmentMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:PremiumPropertyAndCasualtyInsurancePortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:PremiumPropertyAndCasualtyInsurancePortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:PremiumPropertyAndCasualtyInsurancePortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:PremiumPropertyAndCasualtyInsurancePortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:PremiumPropertyAndCasualtyInsurancePortfolioSegmentMember 2025-06-30 0001015328 wtfc:PremiumLifeInsurancePortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:PremiumLifeInsurancePortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:PremiumLifeInsurancePortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:PremiumLifeInsurancePortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:PremiumLifeInsurancePortfolioSegmentMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:PassMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:SpecialMentionMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:SubstandardMember 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember us-gaap:DoubtfulMember 2025-06-30 0001015328 wtfc:EarlyBuyOutLoansMember 2025-06-30 0001015328 us-gaap:PassMember 2025-06-30 0001015328 us-gaap:SpecialMentionMember 2025-06-30 0001015328 us-gaap:SubstandardMember 2025-06-30 0001015328 us-gaap:DoubtfulMember 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember wtfc:InternalInvestmentGrade1To4Member 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember wtfc:InternalInvestmentGrade5To7Member 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember wtfc:InternalInvestmentGrade8To10Member 2025-06-30 0001015328 us-gaap:MunicipalBondsMember wtfc:InternalInvestmentGrade1To4Member 2025-06-30 0001015328 us-gaap:MunicipalBondsMember wtfc:InternalInvestmentGrade5To7Member 2025-06-30 0001015328 us-gaap:MunicipalBondsMember wtfc:InternalInvestmentGrade8To10Member 2025-06-30 0001015328 us-gaap:MortgageBackedSecuritiesMember wtfc:InternalInvestmentGrade1To4Member 2025-06-30 0001015328 us-gaap:MortgageBackedSecuritiesMember wtfc:InternalInvestmentGrade5To7Member 2025-06-30 0001015328 us-gaap:MortgageBackedSecuritiesMember wtfc:InternalInvestmentGrade8To10Member 2025-06-30 0001015328 us-gaap:MortgageBackedSecuritiesMember 2025-06-30 0001015328 us-gaap:CorporateNoteSecuritiesMember wtfc:InternalInvestmentGrade1To4Member 2025-06-30 0001015328 us-gaap:CorporateNoteSecuritiesMember wtfc:InternalInvestmentGrade5To7Member 2025-06-30 0001015328 us-gaap:CorporateNoteSecuritiesMember wtfc:InternalInvestmentGrade8To10Member 2025-06-30 0001015328 us-gaap:CorporateNoteSecuritiesMember 2025-06-30 0001015328 us-gaap:UnfundedLoanCommitmentMember 2025-06-30 0001015328 us-gaap:UnfundedLoanCommitmentMember 2024-12-31 0001015328 us-gaap:UnfundedLoanCommitmentMember 2024-06-30 0001015328 wtfc:LoansAndFinanceReceivablesAndUnfundedLoanCommitmentMember 2025-06-30 0001015328 wtfc:LoansAndFinanceReceivablesAndUnfundedLoanCommitmentMember 2024-12-31 0001015328 wtfc:LoansAndFinanceReceivablesAndUnfundedLoanCommitmentMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember 2025-03-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-03-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2025-03-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2025-03-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2025-03-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2025-03-31 0001015328 us-gaap:CommercialPortfolioSegmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-04-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2025-04-01 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember 2024-03-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-03-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2024-03-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2024-03-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2024-03-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2024-03-31 0001015328 us-gaap:CommercialPortfolioSegmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-04-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2024-04-01 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-01-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2025-01-01 2025-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember 2023-12-31 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2023-12-31 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2023-12-31 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2023-12-31 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2023-12-31 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2023-12-31 0001015328 us-gaap:CommercialPortfolioSegmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-01-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember 2024-01-01 2024-06-30 0001015328 wtfc:ConsumerAndOtherPortfolioSegmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:FinanceReceivablesMember us-gaap:ResidentialRealEstateMember 2025-06-30 0001015328 us-gaap:FinanceReceivablesMember us-gaap:ResidentialRealEstateMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:ExtendedMaturityMember 2025-04-01 2025-06-30 0001015328 us-gaap:ContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 wtfc:InterestOnlyPaymentsMember 2025-04-01 2025-06-30 0001015328 us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ExtendedMaturityMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:InterestOnlyPaymentsMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ExtendedMaturityMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:InterestOnlyPaymentsMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:ExtendedMaturityMember 2024-04-01 2024-06-30 0001015328 us-gaap:ContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 wtfc:InterestOnlyPaymentsMember 2024-04-01 2024-06-30 0001015328 us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodOneMember 2024-06-30 0001015328 wtfc:PaymentDeferralReportedPeriodOneMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:ExtendedMaturityMember 2025-01-01 2025-06-30 0001015328 us-gaap:ContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 wtfc:InterestOnlyPaymentsMember 2025-01-01 2025-06-30 0001015328 us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:ContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:InterestOnlyPaymentsMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2024-01-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:InterestOnlyPaymentsMember 2024-01-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:ContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:InterestOnlyPaymentsMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 us-gaap:ContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 wtfc:InterestOnlyPaymentsMember 2024-01-01 2024-06-30 0001015328 us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 wtfc:ExtendedMaturityAndContractualInterestRateReductionMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodTwoMember 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:PaymentDeferralReportedPeriodTwoMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember us-gaap:ExtendedMaturityMember 2024-01-01 2024-06-30 0001015328 wtfc:PaymentDeferralReportedPeriodTwoMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:CommercialIndustrialAndOtherLoansMember 2024-07-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:CommercialIndustrialAndOtherLoansMember us-gaap:PaymentDeferralMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:CommercialIndustrialAndOtherLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:CommercialIndustrialAndOtherLoansMember 2023-07-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:CommercialIndustrialAndOtherLoansMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:CommercialIndustrialAndOtherLoansMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2024-07-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember 2023-07-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:PaymentDeferralMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2024-07-01 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember 2023-07-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2024-07-01 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember 2023-07-01 2024-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember us-gaap:PaymentDeferralMember 2024-04-01 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2024-07-01 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember 2023-07-01 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2024-07-01 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember 2023-07-01 2024-06-30 0001015328 2024-07-01 2025-06-30 0001015328 2023-07-01 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 wtfc:PaymentDeferralReportedPeriodOneMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:PaymentDeferralReportedPeriodOneMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodOneMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:PaymentDeferralReportedPeriodOneMember 2024-06-30 0001015328 us-gaap:CommercialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:ConstructionLoansMember wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 us-gaap:CommercialRealEstatePortfolioSegmentMember wtfc:NonConstructionLoansMember wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 wtfc:PaymentDeferralReportedPeriodTwoMember 2025-06-30 0001015328 wtfc:HomeEquityPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodTwoMember 2024-06-30 0001015328 us-gaap:ResidentialPortfolioSegmentMember wtfc:PaymentDeferralReportedPeriodTwoMember 2024-06-30 0001015328 wtfc:PremiumFinanceReceivablePortfolioSegmentMember wtfc:PropertyAndCasualtyInsuranceLoansMember wtfc:PaymentDeferralReportedPeriodTwoMember 2024-06-30 0001015328 wtfc:CommunityBankingSegmentMember 2024-12-31 0001015328 wtfc:CommunityBankingSegmentMember 2025-01-01 2025-06-30 0001015328 wtfc:CommunityBankingSegmentMember 2025-06-30 0001015328 wtfc:SpecialtyFinanceSegmentMember 2024-12-31 0001015328 wtfc:SpecialtyFinanceSegmentMember 2025-01-01 2025-06-30 0001015328 wtfc:SpecialtyFinanceSegmentMember 2025-06-30 0001015328 wtfc:WealthManagementSegmentMember 2024-12-31 0001015328 wtfc:WealthManagementSegmentMember 2025-01-01 2025-06-30 0001015328 wtfc:WealthManagementSegmentMember 2025-06-30 0001015328 us-gaap:CoreDepositsMember wtfc:CommunityBankingSegmentMember 2025-06-30 0001015328 us-gaap:CoreDepositsMember wtfc:CommunityBankingSegmentMember 2024-12-31 0001015328 us-gaap:CoreDepositsMember wtfc:CommunityBankingSegmentMember 2024-06-30 0001015328 us-gaap:TrademarksMember wtfc:CommunityBankingSegmentMember 2025-06-30 0001015328 us-gaap:TrademarksMember wtfc:CommunityBankingSegmentMember 2024-12-31 0001015328 us-gaap:TrademarksMember wtfc:CommunityBankingSegmentMember 2024-06-30 0001015328 wtfc:CommunityBankingSegmentMember 2024-06-30 0001015328 us-gaap:CustomerListsMember wtfc:SpecialtyFinanceSegmentMember 2025-06-30 0001015328 us-gaap:CustomerListsMember wtfc:SpecialtyFinanceSegmentMember 2024-12-31 0001015328 us-gaap:CustomerListsMember wtfc:SpecialtyFinanceSegmentMember 2024-06-30 0001015328 wtfc:CustomerListAndOtherIntangiblesMember wtfc:WealthManagementSegmentMember 2025-06-30 0001015328 wtfc:CustomerListAndOtherIntangiblesMember wtfc:WealthManagementSegmentMember 2024-12-31 0001015328 wtfc:CustomerListAndOtherIntangiblesMember wtfc:WealthManagementSegmentMember 2024-06-30 0001015328 wtfc:TermLoanFacilityMember 2025-06-30 0001015328 us-gaap:RevolvingCreditFacilityMember 2025-06-30 0001015328 wtfc:ReceivablesPurchaseAgreementMember us-gaap:SecuredDebtMember 2024-08-28 0001015328 wtfc:ReceivablesPurchaseAgreementMember us-gaap:SecuredDebtMember 2024-08-29 0001015328 wtfc:ReceivablesPurchaseAgreementMember us-gaap:SecuredDebtMember 2025-06-30 0001015328 wtfc:ReceivablesPurchaseAgreementMember us-gaap:SecuredDebtMember 2024-12-31 0001015328 wtfc:ReceivablesPurchaseAgreementMember us-gaap:SecuredDebtMember 2024-06-30 0001015328 wtfc:ReceivablesPurchaseAgreementMember us-gaap:SecuredDebtMember 2025-01-01 2025-06-30 0001015328 us-gaap:SecuredDebtMember 2025-06-30 0001015328 us-gaap:SecuredDebtMember 2024-12-31 0001015328 us-gaap:SecuredDebtMember 2024-06-30 0001015328 wtfc:FixedRatePromissoryNoteMember 2025-06-30 0001015328 wtfc:SubordinatedDebt485MaturingJune2029Member us-gaap:SubordinatedDebtMember 2019-12-31 0001015328 wtfc:SubordinatedDebt500MaturingJune2024Member 2024-04-01 2024-06-30 0001015328 wtfc:SubordinatedDebt500MaturingJune2024Member us-gaap:SubordinatedDebtMember 2024-06-30 0001015328 wtfc:WintrustCapitalTrustThreeMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:WintrustCapitalTrustThreeMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:WintrustStatutoryTrustFourMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:WintrustStatutoryTrustFourMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:WintrustStatutoryTrustFiveMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:WintrustStatutoryTrustFiveMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:WintrustCapitalTrustSevenMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:WintrustCapitalTrustSevenMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:WintrustCapitalTrustEightMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:WintrustCapitalTrustEightMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:WintrustCaptialTrustNineMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:WintrustCaptialTrustNineMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:NorthviewCapitalTrustOneMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:NorthviewCapitalTrustOneMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:TownBanksharesCapitalTrustOneMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:TownBanksharesCapitalTrustOneMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:FirstNorthwestCapitalTrustOneMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:FirstNorthwestCapitalTrustOneMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:SuburbanIllinoisCapitalTrustTwoMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:SuburbanIllinoisCapitalTrustTwoMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 wtfc:CommunityFinancialSharesStatutoryTrustTwoMember us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 wtfc:CommunityFinancialSharesStatutoryTrustTwoMember us-gaap:JuniorSubordinatedDebtMember 2025-01-01 2025-06-30 0001015328 us-gaap:JuniorSubordinatedDebtMember 2025-06-30 0001015328 us-gaap:JuniorSubordinatedDebtMember 2024-12-31 0001015328 us-gaap:JuniorSubordinatedDebtMember 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:CommunityBankingSegmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:SpecialtyFinanceSegmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:WealthManagementSegmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember 2025-04-01 2025-06-30 0001015328 us-gaap:IntersegmentEliminationMember 2025-04-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:CommunityBankingSegmentMember 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:SpecialtyFinanceSegmentMember 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:WealthManagementSegmentMember 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember 2025-06-30 0001015328 us-gaap:IntersegmentEliminationMember 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:CommunityBankingSegmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:SpecialtyFinanceSegmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:WealthManagementSegmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember 2024-04-01 2024-06-30 0001015328 us-gaap:IntersegmentEliminationMember 2024-04-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:CommunityBankingSegmentMember 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:SpecialtyFinanceSegmentMember 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:WealthManagementSegmentMember 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember 2024-06-30 0001015328 us-gaap:IntersegmentEliminationMember 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:CommunityBankingSegmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:SpecialtyFinanceSegmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:WealthManagementSegmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember 2025-01-01 2025-06-30 0001015328 us-gaap:IntersegmentEliminationMember 2025-01-01 2025-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:CommunityBankingSegmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:SpecialtyFinanceSegmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember wtfc:WealthManagementSegmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:OperatingSegmentsMember 2024-01-01 2024-06-30 0001015328 us-gaap:IntersegmentEliminationMember 2024-01-01 2024-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2024-12-31 0001015328 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2024-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:FairValueHedgingMember 2025-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:FairValueHedgingMember 2024-12-31 0001015328 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:FairValueHedgingMember 2024-06-30 0001015328 us-gaap:DesignatedAsHedgingInstrumentMember 2025-06-30 0001015328 us-gaap:DesignatedAsHedgingInstrumentMember 2024-12-31 0001015328 us-gaap:DesignatedAsHedgingInstrumentMember 2024-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:NondesignatedMember 2025-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:InterestRateContractMember us-gaap:NondesignatedMember 2024-06-30 0001015328 us-gaap:InterestRateLockCommitmentsMember us-gaap:NondesignatedMember 2025-06-30 0001015328 us-gaap:InterestRateLockCommitmentsMember us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:InterestRateLockCommitmentsMember us-gaap:NondesignatedMember 2024-06-30 0001015328 wtfc:ForwardCommitmentsToSellMortgageLoansMember us-gaap:NondesignatedMember 2025-06-30 0001015328 wtfc:ForwardCommitmentsToSellMortgageLoansMember us-gaap:NondesignatedMember 2024-12-31 0001015328 wtfc:ForwardCommitmentsToSellMortgageLoansMember us-gaap:NondesignatedMember 2024-06-30 0001015328 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2025-06-30 0001015328 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2024-06-30 0001015328 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2025-06-30 0001015328 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2024-06-30 0001015328 us-gaap:NondesignatedMember 2025-06-30 0001015328 us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:NondesignatedMember 2024-06-30 0001015328 wtfc:InterestRateCollarMaturingSeptember2025Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateCollarMaturingOctober2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateCollarMaturingSeptember2027Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3748MaturingDecember2025Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3759MaturingDecember2025Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3680MaturingFebruary2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt4176MaturingMarch2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3915MaturingMarch2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt4450MaturingJuly2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3515MaturingDecember2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3512MaturingDecember2026Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3453MaturingFebruary2027Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt4150MaturingJuly2027Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3748MaturingMarch2028Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3526MaturingMarch2028Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3933MaturingOctober2029Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt4.245MaturingNovember2029Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3.300EffectiveNovember12025MaturingNovember2029Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3.816EffectiveNovember12025MaturingNovember2030Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3.551EffectiveNovember12025MaturingNovember2030Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt3.950EffectiveFebruary12026MaturingFebruary2031Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 wtfc:InterestRateSwapsAt4.250EffectiveFebruary12026MaturingFebruary2031Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2025-06-30 0001015328 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2025-06-30 0001015328 wtfc:InterestRateSwapTerminatedMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2022-03-31 0001015328 wtfc:InterestRateSwapTerminatedMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2022-01-01 2022-03-31 0001015328 wtfc:InterestRateSwapTerminatedMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2022-06-30 0001015328 wtfc:InterestRateSwapTerminatedOriginalSwapMaturingApril2024Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2022-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-03-31 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-03-31 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-12-31 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2023-12-31 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-04-01 2025-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-04-01 2024-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-01-01 2025-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-01 2024-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-06-30 0001015328 us-gaap:InterestRateContractMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-06-30 0001015328 wtfc:InterestRateSwapTerminatedMember 2025-01-01 2025-06-30 0001015328 wtfc:InterestRateSwapAndCollarMember 2025-01-01 2025-06-30 0001015328 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:FairValueHedgingMember 2025-06-30 0001015328 us-gaap:InterestRateSwapMember us-gaap:LoansReceivableMember us-gaap:DesignatedAsHedgingInstrumentMember 2025-06-30 0001015328 us-gaap:InterestRateSwapMember wtfc:DebtSecuritiesAvailableForSaleExcludingAccruedInterestMember us-gaap:DesignatedAsHedgingInstrumentMember 2025-06-30 0001015328 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember wtfc:InterestAndFeeIncomeLoansAndLeasesMember 2025-04-01 2025-06-30 0001015328 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember wtfc:InterestAndFeeIncomeLoansAndLeasesMember 2025-01-01 2025-06-30 0001015328 wtfc:InterestRateContractQualifiedBorrowersMember us-gaap:NondesignatedMember 2025-06-30 0001015328 wtfc:InterestRateContractQualifiedBorrowersMember us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:CallOptionMember us-gaap:NondesignatedMember 2024-06-30 0001015328 us-gaap:CallOptionMember us-gaap:NondesignatedMember 2024-12-31 0001015328 us-gaap:CallOptionMember us-gaap:NondesignatedMember 2025-06-30 0001015328 wtfc:MortgageBankingDerivativesMember 2025-06-30 0001015328 wtfc:MortgageBankingDerivativesMember 2024-12-31 0001015328 wtfc:InterestRateSwapsAndCapsMember wtfc:TradingGainsLossesNetMember 2025-04-01 2025-06-30 0001015328 wtfc:InterestRateSwapsAndCapsMember wtfc:TradingGainsLossesNetMember 2024-04-01 2024-06-30 0001015328 wtfc:InterestRateSwapsAndCapsMember wtfc:TradingGainsLossesNetMember 2025-01-01 2025-06-30 0001015328 wtfc:InterestRateSwapsAndCapsMember wtfc:TradingGainsLossesNetMember 2024-01-01 2024-06-30 0001015328 wtfc:MortgageBankingDerivativesMember wtfc:MortgageBankingRevenueMember 2025-04-01 2025-06-30 0001015328 wtfc:MortgageBankingDerivativesMember wtfc:MortgageBankingRevenueMember 2024-04-01 2024-06-30 0001015328 wtfc:MortgageBankingDerivativesMember wtfc:MortgageBankingRevenueMember 2025-01-01 2025-06-30 0001015328 wtfc:MortgageBankingDerivativesMember wtfc:MortgageBankingRevenueMember 2024-01-01 2024-06-30 0001015328 us-gaap:CommodityContractMember wtfc:TradingGainsLossesNetMember 2025-04-01 2025-06-30 0001015328 us-gaap:CommodityContractMember wtfc:TradingGainsLossesNetMember 2024-04-01 2024-06-30 0001015328 us-gaap:CommodityContractMember wtfc:TradingGainsLossesNetMember 2025-01-01 2025-06-30 0001015328 us-gaap:CommodityContractMember wtfc:TradingGainsLossesNetMember 2024-01-01 2024-06-30 0001015328 us-gaap:ForeignExchangeContractMember wtfc:TradingGainsLossesNetMember 2025-04-01 2025-06-30 0001015328 us-gaap:ForeignExchangeContractMember wtfc:TradingGainsLossesNetMember 2024-04-01 2024-06-30 0001015328 us-gaap:ForeignExchangeContractMember wtfc:TradingGainsLossesNetMember 2025-01-01 2025-06-30 0001015328 us-gaap:ForeignExchangeContractMember wtfc:TradingGainsLossesNetMember 2024-01-01 2024-06-30 0001015328 us-gaap:CallOptionMember wtfc:FeesFromCoveredCallOptionsMember 2025-04-01 2025-06-30 0001015328 us-gaap:CallOptionMember wtfc:FeesFromCoveredCallOptionsMember 2024-04-01 2024-06-30 0001015328 us-gaap:CallOptionMember wtfc:FeesFromCoveredCallOptionsMember 2025-01-01 2025-06-30 0001015328 us-gaap:CallOptionMember wtfc:FeesFromCoveredCallOptionsMember 2024-01-01 2024-06-30 0001015328 wtfc:EconomicHedgeOnMSRsMember wtfc:MortgageBankingRevenueMember 2025-04-01 2025-06-30 0001015328 wtfc:EconomicHedgeOnMSRsMember wtfc:MortgageBankingRevenueMember 2024-04-01 2024-06-30 0001015328 wtfc:EconomicHedgeOnMSRsMember wtfc:MortgageBankingRevenueMember 2025-01-01 2025-06-30 0001015328 wtfc:EconomicHedgeOnMSRsMember wtfc:MortgageBankingRevenueMember 2024-01-01 2024-06-30 0001015328 us-gaap:InterestRateContractMember 2025-06-30 0001015328 us-gaap:InterestRateContractMember 2024-12-31 0001015328 us-gaap:InterestRateContractMember 2024-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member srt:MinimumMember 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member srt:MaximumMember 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 srt:WeightedAverageMember wtfc:LoansHeldForInvestmentMember 2025-01-01 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member srt:MinimumMember 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member srt:MaximumMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member srt:MinimumMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member srt:MaximumMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member srt:MinimumMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member srt:MaximumMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputCostOfServicingMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputCostOfServicingDelinquentMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputPullThroughRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputPullThroughRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputPullThroughRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-12-31 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-12-31 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-12-31 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-12-31 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-12-31 0001015328 us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-12-31 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-06-30 0001015328 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-06-30 0001015328 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember 2024-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-06-30 0001015328 us-gaap:MunicipalBondsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-06-30 0001015328 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-06-30 0001015328 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember 2024-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2024-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2024-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2024-06-30 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-06-30 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2024-12-31 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2024-06-30 0001015328 us-gaap:NonperformingFinancingReceivableMember 2025-06-30 0001015328 us-gaap:NonperformingFinancingReceivableMember 2024-12-31 0001015328 us-gaap:NonperformingFinancingReceivableMember 2024-06-30 0001015328 us-gaap:MunicipalBondsMember 2025-03-31 0001015328 wtfc:LoansHeldForSaleMember 2025-03-31 0001015328 wtfc:LoansHeldForInvestmentMember 2025-03-31 0001015328 wtfc:MortgageServicingRightsMember 2025-03-31 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2025-03-31 0001015328 us-gaap:MunicipalBondsMember 2025-04-01 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember 2025-04-01 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember 2025-04-01 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember 2025-04-01 2025-06-30 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2025-04-01 2025-06-30 0001015328 us-gaap:MunicipalBondsMember 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember 2025-06-30 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2025-06-30 0001015328 us-gaap:MunicipalBondsMember 2024-03-31 0001015328 wtfc:LoansHeldForSaleMember 2024-03-31 0001015328 wtfc:LoansHeldForInvestmentMember 2024-03-31 0001015328 wtfc:MortgageServicingRightsMember 2024-03-31 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2024-03-31 0001015328 us-gaap:MunicipalBondsMember 2024-04-01 2024-06-30 0001015328 wtfc:LoansHeldForSaleMember 2024-04-01 2024-06-30 0001015328 wtfc:LoansHeldForInvestmentMember 2024-04-01 2024-06-30 0001015328 wtfc:MortgageServicingRightsMember 2024-04-01 2024-06-30 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2024-04-01 2024-06-30 0001015328 us-gaap:MunicipalBondsMember 2024-06-30 0001015328 wtfc:LoansHeldForSaleMember 2024-06-30 0001015328 wtfc:LoansHeldForInvestmentMember 2024-06-30 0001015328 wtfc:MortgageServicingRightsMember 2024-06-30 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2024-06-30 0001015328 us-gaap:MunicipalBondsMember 2024-12-31 0001015328 wtfc:LoansHeldForSaleMember 2024-12-31 0001015328 wtfc:LoansHeldForInvestmentMember 2024-12-31 0001015328 wtfc:MortgageServicingRightsMember 2024-12-31 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2024-12-31 0001015328 us-gaap:MunicipalBondsMember 2025-01-01 2025-06-30 0001015328 wtfc:LoansHeldForSaleMember 2025-01-01 2025-06-30 0001015328 wtfc:LoansHeldForInvestmentMember 2025-01-01 2025-06-30 0001015328 wtfc:MortgageServicingRightsMember 2025-01-01 2025-06-30 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2025-01-01 2025-06-30 0001015328 us-gaap:MunicipalBondsMember 2023-12-31 0001015328 wtfc:LoansHeldForSaleMember 2023-12-31 0001015328 wtfc:LoansHeldForInvestmentMember 2023-12-31 0001015328 wtfc:MortgageServicingRightsMember 2023-12-31 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2023-12-31 0001015328 us-gaap:MunicipalBondsMember 2024-01-01 2024-06-30 0001015328 wtfc:LoansHeldForSaleMember 2024-01-01 2024-06-30 0001015328 wtfc:LoansHeldForInvestmentMember 2024-01-01 2024-06-30 0001015328 wtfc:MortgageServicingRightsMember 2024-01-01 2024-06-30 0001015328 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2024-01-01 2024-06-30 0001015328 us-gaap:FairValueMeasurementsNonrecurringMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001015328 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001015328 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 us-gaap:FairValueInputsLevel3Member 2025-06-30 0001015328 wtfc:OtherRealEstateOwnedMember us-gaap:MeasurementInputDiscountForLackOfMarketabilityMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputDiscountRateMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputEntityCreditRiskMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputDiscountRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputConstantPrepaymentRateMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputExpectedTermMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputExpectedTermMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputExpectedTermMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MeasurementInputConstantPrepaymentRateMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputCostOfServicingMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputCostOfServicingMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputCostOfServicingDelinquentMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MinimumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsRecurringMember wtfc:MeasurementInputCostOfServicingDelinquentMember us-gaap:FairValueInputsLevel3Member us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:MaximumMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:CostApproachValuationTechniqueMember us-gaap:MeasurementInputDiscountForLackOfMarketabilityMember 2025-06-30 0001015328 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:MeasurementInputDiscountForLackOfMarketabilityMember us-gaap:FairValueInputsLevel3Member us-gaap:CostApproachValuationTechniqueMember srt:WeightedAverageMember 2025-06-30 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-06-30 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2024-12-31 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2024-06-30 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtFairValueMember 2025-06-30 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtFairValueMember 2025-06-30 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtFairValueMember 2024-12-31 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtFairValueMember 2024-12-31 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtFairValueMember 2024-06-30 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtFairValueMember 2024-06-30 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtAmortizedCostMember 2025-06-30 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtAmortizedCostMember 2025-06-30 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtAmortizedCostMember 2024-12-31 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtAmortizedCostMember 2024-12-31 0001015328 us-gaap:CarryingReportedAmountFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtAmortizedCostMember 2024-06-30 0001015328 us-gaap:EstimateOfFairValueFairValueDisclosureMember wtfc:LoansHeldForInvestmentAtAmortizedCostMember 2024-06-30 0001015328 us-gaap:RestrictedStockMember 2024-12-31 0001015328 us-gaap:RestrictedStockMember 2023-12-31 0001015328 us-gaap:RestrictedStockMember 2025-01-01 2025-06-30 0001015328 us-gaap:RestrictedStockMember 2024-01-01 2024-06-30 0001015328 us-gaap:RestrictedStockMember 2025-06-30 0001015328 us-gaap:RestrictedStockMember 2024-06-30 0001015328 us-gaap:PerformanceSharesMember 2024-12-31 0001015328 us-gaap:PerformanceSharesMember 2023-12-31 0001015328 us-gaap:PerformanceSharesMember 2025-01-01 2025-06-30 0001015328 us-gaap:PerformanceSharesMember 2024-01-01 2024-06-30 0001015328 us-gaap:PerformanceSharesMember 2025-06-30 0001015328 us-gaap:PerformanceSharesMember 2024-06-30 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-03-31 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-03-31 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2025-03-31 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-04-01 2025-06-30 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-04-01 2025-06-30 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2025-04-01 2025-06-30 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-06-30 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-06-30 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2025-06-30 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-12-31 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-12-31 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2024-12-31 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-01-01 2025-06-30 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-01-01 2025-06-30 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2025-01-01 2025-06-30 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-03-31 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-03-31 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2024-03-31 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-04-01 2024-06-30 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-04-01 2024-06-30 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2024-04-01 2024-06-30 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-06-30 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-06-30 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2024-06-30 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2023-12-31 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2023-12-31 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2023-12-31 0001015328 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-01-01 2024-06-30 0001015328 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-01 2024-06-30 0001015328 us-gaap:AccumulatedTranslationAdjustmentMember 2024-01-01 2024-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-04-01 2025-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-04-01 2024-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-01-01 2025-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-01-01 2024-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-04-01 2025-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-04-01 2024-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-01-01 2025-06-30 0001015328 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-01 2024-06-30 0001015328 wtfc:O2025Q1DividendsMember 2025-01-01 2025-03-31 0001015328 wtfc:O2025Q1ADividendsMember 2025-01-01 2025-03-31 0001015328 wtfc:O2025Q2DividendsMember 2025-04-01 2025-06-30 0001015328 wtfc:O2025Q2ADividendsMember 2025-04-01 2025-06-30 0001015328 us-gaap:SeriesDPreferredStockMember us-gaap:SubsequentEventMember 2025-07-15 2025-07-15 0001015328 us-gaap:SeriesDPreferredStockMember us-gaap:SubsequentEventMember 2025-07-15 0001015328 us-gaap:SeriesEPreferredStockMember us-gaap:SubsequentEventMember 2025-07-15 2025-07-15 0001015328 wtfc:DepositarySharesSeriesEPreferredStockMember us-gaap:SubsequentEventMember 2025-07-15 2025-07-15 0001015328 us-gaap:SeriesEPreferredStockMember us-gaap:SubsequentEventMember 2025-07-15 0001015328 wtfc:DepositarySharesSeriesEPreferredStockMember us-gaap:SubsequentEventMember 2025-07-15 0001015328 us-gaap:SeriesFPreferredStockMember 2025-05-22 2025-05-22 0001015328 us-gaap:SeriesFPreferredStockMember 2025-05-22

Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _________________________________________

FORM 10-Q
_________________________________________

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025
OR

☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to
Commission File Number 001-35077
_____________________________________ 
WINTRUST FINANCIAL CORP ORATION
(Exact name of registrant as specified in its charter)  

Illinois 36-3873352
(State of incorporation or organization) (I.R.S. Employer Identification No.)

9700 W. Higgins Road, Suite 800
Rosemont , Illinois 60018
(Address of principal executive offices)
( 847 )  939-9000
(Registrant’s telephone number, including area code)

Common Stock, no par value  Ticker Symbol Name of Each Exchange on Which Registered
WTFC The Nasdaq Global Select Market

Depositary Shares, Each Representing a 1/1,000 th Interest in a Share of
WTFCN The Nasdaq Global Select Market
7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F, no par value
____________________________________ 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes    ☑     No   ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes    ☑     No   ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☑ Accelerated filer ☐

Non-accelerated filer ☐
(Do not check if a smaller reporting company) Smaller reporting company ☐

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes   ☐    No   ☑
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Common Stock — no par value, 66,952,288 shares, as of July 31, 2025

Table of Contents

TABLE OF CONTENTS
 

Page
PART I. — FINANCIAL INFORMATION
ITEM 1. Financial Statements
1

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
48

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk
78

ITEM 4. Controls and Procedures
79

PART II. — OTHER INFORMATION
ITEM 1. Legal Proceedings
80

ITEM 1A. Risk Factors
80

ITEM 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities
80

ITEM 3. Defaults Upon Senior Securities NA
ITEM 4. Mine Safety Disclosures NA
ITEM 5. Other Information
81

ITEM 6. Exhibits
81

Signatures
82

Table of Contents

PART I

ITEM 1. FINANCIAL STATEMENTS

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION

(Unaudited) (Unaudited)
(Dollars in thousands, except per share data) June 30,
2025 December 31,
2024 June 30,
2024
Assets
Cash and due from banks $ 695,501   $ 452,017   $ 415,462  
Federal funds sold and securities purchased under resale agreements 63   6,519   62  
Interest-bearing deposits with banks 4,569,618   4,409,753   2,824,314  
Available-for-sale securities, at fair value 4,885,715   4,141,482   4,329,957  
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $ 398 , $ 457 and $ 491 at June 30, 2025, December 31, 2024 and June 30, 2024, respectively ($ 2.9 billion, $ 2.9 billion and $ 3.1 billion fair value at June 30, 2025, December 31, 2024 and June 30, 2024, respectively)
3,502,186   3,613,263   3,755,924  
Trading account securities —   4,072   4,134  
Equity securities with readily determinable fair value 273,722   215,412   112,173  
Federal Home Loan Bank and Federal Reserve Bank stock 282,087   281,407   256,495  
Brokerage customer receivables —   18,102   13,682  
Mortgage loans held-for-sale, at fair value 299,606   331,261   411,851  

Loans, net of unearned income 51,041,679   48,055,037   44,675,531  
Allowance for loan losses ( 391,654 ) ( 364,017 ) ( 363,719 )

Net loans 50,650,025   47,691,020   44,311,812  
Premises, software and equipment, net 776,324   779,130   722,295  
Lease investments, net 289,768   278,264   275,459  

Accrued interest receivable and other assets 1,610,025   1,739,334   1,671,334  
Receivable on unsettled securities sales 240,039   —   —  

Goodwill 798,144   796,942   655,955  
Other acquisition-related intangible assets 110,495   121,690   20,607  
Total assets $ 68,983,318   $ 64,879,668   $ 59,781,516  

Liabilities and Shareholders’ Equity
Deposits:
Non-interest-bearing $ 10,877,166   $ 11,410,018   $ 10,031,440  
Interest-bearing 44,939,645   41,102,331   38,017,586  
Total deposits 55,816,811   52,512,349   48,049,026  

Federal Home Loan Bank advances 3,151,309   3,151,309   3,176,309  

Other borrowings 625,392   534,803   606,579  

Subordinated notes 298,458   298,283   298,113  
Junior subordinated debentures 253,566   253,566   253,566  
Payable on unsettled securities sales 39,105   —   —  
Accrued interest payable and other liabilities 1,572,981   1,785,061   1,861,295  

Total liabilities 61,757,622   58,535,371   54,244,888  
Shareholders’ Equity:
Preferred stock, no par value; 20,000,000 shares authorized:

Series D - $ 25 liquidation value; 5,000,000 shares issued and outstanding at June 30, 2025, December 31, 2024 and June 30, 2024
125,000   125,000   125,000  
Series E - $ 25,000 liquidation value; 11,500 shares issued and outstanding at June 30, 2025, December 31, 2024 and June 30, 2024
287,500   287,500   287,500  
Series F - $ 25,000 liquidation value; 17,000 shares issued and outstanding at June 30, 2025 and no shares issued and outstanding at December 31, 2024 and June 30, 2024
425,000   —   —  
Common stock, no par value; $ 1.00 stated value; 100,000,000 shares authorized at June 30, 2025, December 31, 2024 and June 30, 2024; 67,025,001 shares issued at June 30, 2025, 66,560,182 shares issued at December 31, 2024 and 61,824,947 shares issued at June 30, 2024
67,025   66,560   61,825  
Surplus 2,495,637   2,482,561   1,964,645  
Treasury stock, at cost, 87,269 shares at June 30, 2025, 64,955 shares at December 31, 2024, and 64,808 shares at June 30, 2024
( 9,156 ) ( 6,153 ) ( 5,760 )
Retained earnings 4,200,923   3,897,164   3,615,616  
Accumulated other comprehensive loss ( 366,233 ) ( 508,335 ) ( 512,198 )
Total shareholders’ equity 7,225,696   6,344,297   5,536,628  
Total liabilities and shareholders’ equity $ 68,983,318   $ 64,879,668   $ 59,781,516  

See accompanying notes to unaudited consolidated financial statements.
1

Table of Contents

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months Ended Six Months Ended
(Dollars in thousands, except per share data) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Interest income
Interest and fees on loans $ 797,997   $ 749,812   $ 1,566,359   $ 1,460,153  
Mortgage loans held-for-sale 4,872   5,434   9,118   9,580  
Interest-bearing deposits with banks 34,317   19,731   71,083   36,389  
Federal funds sold and securities purchased under resale agreements 276   17   455   36  
Investment securities 78,053   69,779   150,069   139,457  
Trading account securities —   13   11   31  
Federal Home Loan Bank and Federal Reserve Bank stock 5,393   4,974   10,700   9,452  
Brokerage customer receivables —   219   78   394  
Total interest income 920,908   849,979   1,807,873   1,655,492  
Interest expense
Interest on deposits 333,470   335,703   653,703   635,235  
Interest on Federal Home Loan Bank advances 25,724   24,797   51,165   46,845  
Interest on other borrowings 6,957   8,700   13,749   17,948  
Interest on subordinated notes 3,735   5,185   7,449   10,672  
Interest on junior subordinated debentures 4,328   4,984   8,639   9,988  
Total interest expense 374,214   379,369   734,705   720,688  
Net interest income 546,694   470,610   1,073,168   934,804  
Provision for credit losses 22,234   40,061   46,197   61,734  
Net interest income after provision for credit losses 524,460   430,549   1,026,971   873,070  
Non-interest income
Wealth management 36,821   35,413   70,863   70,228  
Mortgage banking 23,170   29,124   43,699   56,787  
Service charges on deposit accounts 19,502   15,546   38,864   30,357  
Gains (losses) on investment securities, net 650   ( 4,282 ) 3,846   ( 2,956 )
Fees from covered call options 5,624   2,056   9,070   6,903  
Trading gains, net 151   70   87   747  
Operating lease income, net 15,166   13,938   30,453   28,048  
Other 23,005   29,282   43,841   71,613  
Total non-interest income 124,089   121,147   240,723   261,727  
Non-interest expense
Salaries and employee benefits 219,541   198,541   431,067   393,714  
Software and equipment 36,522   29,231   71,239   56,962  
Operating lease equipment 10,757   10,834   21,228   21,517  
Occupancy, net 20,228   19,585   41,006   38,671  
Data processing 12,110   9,503   23,384   18,795  
Advertising and marketing 18,761   17,436   31,033   30,476  
Professional fees 9,243   9,967   18,287   19,520  
Amortization of other acquisition-related intangible assets 5,580   1,122   11,198   2,280  
FDIC insurance 10,971   10,429   21,897   24,966  
Other real estate owned expense, net 505   ( 259 ) 1,148   133  
Other 37,243   33,964   76,064   66,464  
Total non-interest expense 381,461   340,353   747,551   673,498  
Income before taxes 267,088   211,343   520,143   461,299  
Income tax expense 71,561   58,955   135,577   121,617  
Net income $ 195,527   $ 152,388   $ 384,566   $ 339,682  
Preferred stock dividends 6,991   6,991   13,982   13,982  
Net income applicable to common shares $ 188,536   $ 145,397   $ 370,584   $ 325,700  
Net income per common share—Basic $ 2.82   $ 2.35   $ 5.55   $ 5.28  
Net income per common share—Diluted $ 2.78   $ 2.32   $ 5.47   $ 5.21  
Cash dividends declared per common share $ 0.50   $ 0.45   $ 1.00   $ 0.90  
Weighted average common shares outstanding 66,931   61,839   66,829   61,660  
Dilutive potential common shares 888   926   903   901  
Average common shares and dilutive common shares 67,819   62,765   67,732   62,561  

See accompanying notes to unaudited consolidated financial statements.
2

Table of Contents

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
 

Three Months Ended Six Months Ended
(In thousands) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Net income $ 195,527   $ 152,388   $ 384,566   $ 339,682  
Unrealized gains (losses) on available-for-sale securities
Before tax 5,365   ( 20,768 ) 80,191   ( 98,656 )
Tax effect ( 1,395 ) 5,493   ( 20,850 ) 26,094  
Net of tax 3,970   ( 15,275 ) 59,341   ( 72,562 )
Reclassification of net (losses) gains on available-for-sale securities included in net income
Before tax ( 87 ) 1,204   ( 388 ) 1,178  
Tax effect 23   ( 319 ) 101   ( 312 )
Net of tax ( 64 ) 885   ( 287 ) 866  
Reclassification of amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale
Before tax 10   14   21   64  
Tax effect ( 2 ) ( 4 ) ( 5 ) ( 17 )
Net of tax 8   10   16   47  
Net unrealized gains (losses) on available-for-sale securities 4,026   ( 16,170 ) 59,612   ( 73,475 )
Unrealized gains (losses) on derivative instruments
Before tax 29,964   ( 10,843 ) 88,037   ( 92,934 )
Tax effect ( 7,791 ) 2,868   ( 22,890 ) 24,581  
Net unrealized gains (losses) on derivative instruments 22,173   ( 7,975 ) 65,147   ( 68,353 )
Foreign currency adjustment
Before tax 21,398   ( 3,558 ) 21,120   ( 11,207 )
Tax effect ( 3,815 ) 653   ( 3,777 ) 2,068  
Net foreign currency adjustment 17,583   ( 2,905 ) 17,343   ( 9,139 )
Total other comprehensive income (loss) 43,782   ( 27,050 ) 142,102   ( 150,967 )
Comprehensive income $ 239,309   $ 125,338   $ 526,668   $ 188,715  

See accompanying notes to unaudited consolidated financial statements.

3

Table of Contents

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED)

(Dollars in thousands, except per share data) Preferred
stock Common
stock Surplus Treasury
stock Retained
earnings Accumulated other comprehensive loss Total shareholders’ equity
Balance at March 31, 2024
$ 412,500   $ 61,798   $ 1,954,532   $ ( 5,757 ) $ 3,498,475   $ ( 485,148 ) $ 5,436,400  

Net income —  —  —  —  152,388   —  152,388  
Other comprehensive loss, net of tax —  —  —  —  —  ( 27,050 ) ( 27,050 )
Cash dividends declared on common stock, $ 0.45 per share
—  —  —  —  ( 28,256 ) —  ( 28,256 )
Dividends on Series D preferred stock, $ 0.41 per share and Series E preferred stock, $ 429.69 per share
—  —  —  —  ( 6,991 ) —  ( 6,991 )

Stock-based compensation —  —  8,950   —  —  —  8,950  

Common stock issued for:

Restricted stock awards —  18   ( 50 ) ( 3 ) —  —  ( 35 )
Employee stock purchase plan —  9   893   —  —  —  902  
Director compensation plan —  —  320   —  —  —  320  
Balance at June 30, 2024 $ 412,500   $ 61,825   $ 1,964,645   $ ( 5,760 ) $ 3,615,616   $ ( 512,198 ) $ 5,536,628  

Balance at January 1, 2024 $ 412,500   $ 61,269   $ 1,943,806   $ ( 2,217 ) $ 3,345,399   $ ( 361,231 ) $ 5,399,526  

Net income —  —  —  —  339,682   —  339,682  
Other comprehensive loss, net of tax —  —  —  —  —  ( 150,967 ) ( 150,967 )
Cash dividends declared on common stock, $ 0.90 per share
—  —  —  —  ( 55,483 ) —  ( 55,483 )
Dividends on Series D preferred stock, $ 0.82 per share and Series E preferred stock, $ 859.38 per share
—  —  —  —  ( 13,982 ) —  ( 13,982 )

Stock-based compensation —  —  18,107   —  —  —  18,107  

Common stock issued for:

Exercise of stock options —  1   24   —  —  —  25  
Restricted stock awards —  523   ( 519 ) ( 3,543 ) —  —  ( 3,539 )
Employee stock purchase plan —  17   1,626   —  —  —  1,643  
Director compensation plan —  15   1,601   —  —  —  1,616  
Balance at June 30, 2024 $ 412,500   $ 61,825   $ 1,964,645   $ ( 5,760 ) $ 3,615,616   $ ( 512,198 ) $ 5,536,628  

Balance at March 31, 2025
$ 412,500   $ 67,007   $ 2,494,347   $ ( 9,156 ) $ 4,045,854   $ ( 410,015 ) $ 6,600,537  

Net income —   —   —   —   195,527   —   195,527  
Other comprehensive income, net of tax —   —   —   —   —   43,782   43,782  
Cash dividends declared on common stock, $ 0.50 per share
—   —   —   —   ( 33,467 ) —   ( 33,467 )
Dividends on Series D preferred stock, $ 0.41 per share and Series E preferred stock, $ 429.69 per share
—   —   —   —   ( 6,991 ) —   ( 6,991 )

Stock-based compensation —   —   10,164   —   —   —   10,164  
Issuance of Series F Preferred Stock 425,000   —   ( 10,788 ) —   —   —   414,212  
Common stock issued for:

Exercise of stock options —   —   1   —   —   —   1  
Restricted stock awards —   8   ( 8 ) —   —   —   —  
Employee stock purchase plan —   9   981   —   —   —   990  
Director compensation plan —   1   940   —   —   —   941  
Balance at June 30, 2025 $ 837,500   $ 67,025   $ 2,495,637   $ ( 9,156 ) $ 4,200,923   $ ( 366,233 ) $ 7,225,696  

Balance at January 1, 2025 $ 412,500   $ 66,560   $ 2,482,561   $ ( 6,153 ) $ 3,897,164   $ ( 508,335 ) $ 6,344,297  

Net income —   —   —   —   384,566   —   384,566  
Other comprehensive income, net of tax —   —   —   —   —   142,102   142,102  
Cash dividends declared on common stock, $ 1.00 per share
—   —   —   —   ( 66,825 ) —   ( 66,825 )
Dividends on Series D preferred stock, $ 0.82 per share and Series E preferred stock, $ 859.38 per share
—   —   —   —   ( 13,982 ) —   ( 13,982 )

Stock-based compensation —   —   20,575   —   —   —   20,575  
Issuance of Series F Preferred Stock 425,000   —   ( 10,788 ) —   —   —   414,212  
Common stock issued for:

Exercise of stock options —   5   215   —   —   —   220  
Restricted stock awards —   425   ( 425 ) ( 3,003 ) —   —   ( 3,003 )
Employee stock purchase plan —   16   1,749   —   —   —   1,765  
Director compensation plan —   19   1,750   —   —   —   1,769  
Balance at June 30, 2025 $ 837,500   $ 67,025   $ 2,495,637   $ ( 9,156 ) $ 4,200,923   $ ( 366,233 ) $ 7,225,696  

See accompanying notes to unaudited consolidated financial statements.
4

Table of Contents

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Six Months Ended
(In thousands) June 30,
2025 June 30,
2024
Operating Activities:
Net income $ 384,566   $ 339,682  
Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses 46,197   61,734  
Depreciation, amortization and accretion, net 60,352   45,142  
Stock-based compensation expense 20,575   18,107  

Accretion of discount/premium on securities, net ( 1,787 ) ( 347 )
Accretion of discount and deferred fees on loans, net ( 10,341 ) ( 7,127 )
Mortgage servicing rights fair value changes 21,732   1,448  
Non-designated derivatives fair value changes, net 75,299   ( 9,566 )
Originations and purchases of mortgage loans held-for-sale ( 1,141,999 ) ( 1,197,799 )
Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. government agencies, net of subsequent paydowns or payoffs 7,244   ( 3,896 )
Proceeds from sales of mortgage loans held-for-sale 1,149,356   1,083,551  

Bank owned life insurance (“BOLI”) gains ( 3,053 ) ( 3,002 )
Decrease in trading securities, net 4,072   573  
Decrease (increase) in brokerage customer receivables, net 18,102   ( 3,090 )
Gains on mortgage loans sold ( 28,461 ) ( 25,640 )
Gains on premium financing receivables sold —   ( 4,575 )
(Gains) losses on investment securities, net, and dividend reinvestment on equity securities ( 3,846 ) 2,956  

Losses (gains) on sales of premises and equipment, net 409   ( 112 )
Losses (gains) on sales and fair value adjustments of other real estate owned, net 816   ( 316 )
Decrease (increase) in accrued interest receivable and other assets, net 90,322   ( 88,565 )
(Decrease) increase in accrued interest payable and other liabilities, net ( 240,645 ) 83,207  
Net Cash Provided by Operating Activities 448,910   292,365  
Investing Activities:
Proceeds from calls and sales of available-for-sale securities 465,078   690,866  
Proceeds from payments and maturities of available-for-sale securities 259,210   193,605  
Proceeds from payments, maturities and calls of held-to-maturity securities 110,752   100,276  

Proceeds from sales of equity securities with readily determinable fair value 5,000   51,792  
Proceeds from sales and capital distributions of equity securities without readily determinable fair value —   2,226  
Purchases of available-for-sale securities ( 1,587,099 ) ( 1,118,596 )

Purchases of equity securities with readily determinable fair value ( 56,019 ) ( 24,000 )
Purchases of equity securities without readily determinable fair value ( 1,053 ) ( 5,972 )
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock, net ( 680 ) ( 51,492 )
Distributions from investments in partnerships, net 1,161   2,239  

Proceeds from sales of premium financing receivables, net —   627,450  
Proceeds from sales of other real estate owned —   1,752  

Increase in interest-bearing deposits with banks, net ( 150,218 ) ( 743,606 )
Increase in loans, net ( 2,957,473 ) ( 3,241,661 )
Redemption of BOLI —   306  
Purchases of premises and equipment, net ( 9,710 ) ( 49,759 )
Net Cash Used for Investing Activities ( 3,921,051 ) ( 3,564,574 )
Financing Activities:
Increase in deposit accounts, net 3,304,462   2,651,854  
Increase (decrease) in other borrowings, net 70,551   ( 28,103 )
Increase in Federal Home Loan Bank advances, net —   850,238  

Proceeds from the issuance of preferred stock, net 414,212   —  

Repayment of subordinated notes —   ( 140,000 )
Issuance of common shares resulting from the exercise of stock options, employee stock purchase plan and director compensation plan 3,754   3,284  

Common stock repurchases for tax withholdings related to stock-based compensation ( 3,003 ) ( 3,539 )
Dividends paid ( 80,807 ) ( 69,465 )
Net Cash Provided by Financing Activities 3,709,169   3,264,269  
Net Increase (Decrease) in Cash and Cash Equivalents 237,028   ( 7,940 )
Cash and Cash Equivalents at Beginning of Period 458,536   423,464  
Cash and Cash Equivalents at End of Period $ 695,564   $ 415,524  

See accompanying notes to unaudited consolidated financial statements.
5

Table of Contents

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

(1) Basis of Presentation

The interim consolidated financial statements of Wintrust Financial Corporation and its subsidiaries (collectively, “Wintrust” or the “Company”) presented herein are unaudited, but in the opinion of management, reflect all necessary adjustments of a normal or recurring nature for a fair presentation of results as of the dates and for the periods covered by the interim consolidated financial statements.

The accompanying interim consolidated financial statements are unaudited and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations or cash flows in accordance with U.S. generally accepted accounting principles (“GAAP”). The interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (“2024 Form 10-K”). Operating results reported for the period are not necessarily indicative of the results which may be expected for the entire year. Reclassifications of certain prior period amounts have been made to conform to the current period presentation.

The preparation of the financial statements requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities. Management believes that the estimates made are reasonable; however, changes in estimates may be required if economic or other conditions develop differently from management’s expectations. Certain policies and accounting principles inherently have a greater reliance on the use of estimates, assumptions and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Management views critical accounting policies to be those which are highly dependent on subjective or complex judgments, estimates and assumptions, and where changes in those estimates and assumptions could have a significant impact on the financial statements. Management currently views the determination of the allowance for credit losses, including the allowance for loan losses, the allowance for unfunded commitment losses and the allowance for held-to-maturity securities losses, estimations of fair value, the valuations required for impairment testing of goodwill, the valuation and accounting for derivative instruments and income taxes as the accounting areas that require the most subjective and complex judgments, and as such could be the most subject to revision as new information becomes available. Descriptions of the Company’s significant accounting policies are included in Note (1) “Summary of Significant Accounting Policies” of the 2024 Form 10-K. In preparation of these financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all shareholders and other financial statement users or filed with the SEC.

(2) Recent Accounting Developments

Income Tax Disclosures

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” to enhance the transparency and decision usefulness of income tax disclosures. This ASU requires annually that all entities disclose increasingly disaggregated information on amount of income taxes paid. Further, this ASU requires annually that all public entities must disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a specific quantitative threshold. This guidance is effective for fiscal years beginning after December 15, 2024, and is to be applied either on a prospective basis or retrospective basis. Early adoption is permitted. The Company expects adoption of this standard will expand income tax disclosures within the consolidated financial statements.

Compensation – Scope Application of Profits Interest and Similar Awards

In March 2024, the FASB issued ASU No. 2024-01, “Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards” which clarifies the guidance by providing an illustrative example to demonstrate how an entity should apply the scope guidance in Topic 718 when determining whether profits interest and similar awards should be accounted for in accordance with Topic 718. For public business entities, this guidance is effective for fiscal years beginning after December 15, 2024, including interim periods therein, and is to be applied either on a prospective basis or retrospective basis. Early adoption is permitted. Adoption of this standard did not impact the Company’s consolidated financial statements.

6

Table of Contents

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU No. 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires public business entities to disclose additional information about specific expense categories including employee compensation, depreciation, intangible asset amortization, etc., as well as qualitative descriptions of certain expenses, in the notes to the financial statements. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The guidance is to be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements.

Induced Conversions of Convertible Debt Instruments

In November 2024, the FASB issued ASU No. 2024-04, “Debt – Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments” to clarify the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. This guidance is effective for fiscal years beginning after December 15, 2025, including interim periods therein, and is to be applied either on a prospective basis or retrospective basis. Early adoption is permitted. Adoption of this standard is expected to have no impact on the Company’s consolidated financial statements.

Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity

In May 2025, the FASB issued ASU No. 2025-03, “Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity” which requires an entity involved in an acquisition transaction affected by primarily exchanging equity interests when the legal acquirer is a variable interest entity that meets the definition of a business, to consider specific factors when determining which entity is the accounting acquirer. This guidance is effective for fiscal years beginning after December 15, 2026, including interim periods therein, and is to be applied on a prospective basis to any acquisition transaction that occurs after the initial application date. Early adoption is permitted. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements.

(3) Business Combinations

On August 1, 2024, the Company completed its previously announced acquisition of Macatawa Bank Corporation (“Macatawa”), the parent company of Macatawa Bank. Pursuant to the terms of the merger, each common share of Macatawa outstanding at the time of merger was converted into the right to receive 0.137 shares of Wintrust common stock, with cash paid in lieu of fractional shares. As a result, the Company issued approximately 4.7 million shares of common stock, the fair value of consideration paid was $ 499.3 million. Macatawa operates 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties in the state of Michigan. Macatawa offers a full range of banking, retail and commercial lending, wealth management and ecommerce services to individuals, businesses and governmental entities. As of August 1, 2024, Macatawa had fair values of approximately $ 2.9 billion in assets, $ 2.3 billion in deposits and $ 1.3 billion in loans. In conjunction with the acquisition, the Company recorded $ 53.7 million discount on acquired loans, $ 33.5 million discount on securities and recorded total intangibles of $ 253.0 million. The purchase accounting is finalized and is no longer subject to change.

(4) Cash and Cash Equivalents

For purposes of the Consolidated Statements of Cash Flows, the Company considers cash and cash equivalents to include cash on hand, cash items in the process of collection, non-interest bearing amounts due from correspondent banks, federal funds sold and securities purchased under resale agreements with original maturities of three months or less. These items are included within the Company’s Consolidated Statements of Condition as cash and due from banks, and federal funds sold and securities purchased under resale agreements.

7

Table of Contents

(5) Investment Securities

The following tables are a summary of the investment securities portfolios as of the dates shown:

June 30, 2025
(In thousands) Amortized
Cost Gross
Unrealized
Gains Gross
Unrealized
Losses Fair
Value
Available-for-sale securities
U.S. Treasury $ 12,979   $ 39   $ —   $ 13,018  
U.S. government agencies 50,000   —   ( 4,176 ) 45,824  
Municipal 182,761   1,120   ( 3,237 ) 180,644  
Corporate notes:
Financial issuers 82,000   —   ( 3,199 ) 78,801  
Other 1,000   —   ( 2 ) 998  
Mortgage-backed: (1)

Residential mortgage-backed securities 4,618,492   3,960   ( 478,768 ) 4,143,684  
Commercial (multi-family) mortgage-backed securities 130,464   115   ( 3,634 ) 126,945  
Collateralized mortgage obligations 311,497   1,863   ( 17,559 ) 295,801  
Total available-for-sale securities $ 5,389,193   $ 7,097   $ ( 510,575 ) $ 4,885,715  
Held-to-maturity securities
U.S. government agencies $ 313,540   $ —   $ ( 64,071 ) $ 249,469  
Municipal 156,753   296   ( 4,030 ) 153,019  
Mortgage-backed: (1)

Residential mortgage-backed securities 2,775,981   1,637   ( 548,063 ) 2,229,555  
Commercial (multi-family) mortgage-backed securities 6,333   51   ( 113 ) 6,271  
Collateralized mortgage obligations 196,446   982   ( 18,933 ) 178,495  
Corporate notes 53,531   75   ( 1,000 ) 52,606  
Total held-to-maturity securities $ 3,502,584   $ 3,041   $ ( 636,210 ) $ 2,869,415  
Less: Allowance for credit losses ( 398 )
Held-to-maturity securities, net of allowance for credit losses $ 3,502,186  
Equity securities with readily determinable fair value $ 273,789   $ 7,047   $ ( 7,114 ) $ 273,722  

(1) None of our mortgage-backed securities are subprime.

8

Table of Contents

December 31, 2024
Amortized
Cost Gross
Unrealized
Gains Gross
Unrealized
Losses Fair
Value
(In thousands)
Available-for-sale securities
U.S. Treasury $ 37,858   $ 49   $ —   $ 37,907  
U.S. government agencies 50,000   —   ( 5,055 ) 44,945  
Municipal 188,405   528   ( 4,340 ) 184,593  
Corporate notes:
Financial issuers 83,997   —   ( 3,828 ) 80,169  
Other 1,000   —   ( 7 ) 993  
Mortgage-backed: (1)

Residential Mortgage-backed securities 4,106,641   284   ( 553,287 ) 3,553,638  
Commercial (multi-family) mortgage-backed securities 19,064   23   ( 755 ) 18,332  
Collateralized mortgage obligations 238,574   1,187   ( 18,856 ) 220,905  
Total available-for-sale securities $ 4,725,539   $ 2,071   $ ( 586,128 ) $ 4,141,482  
Held-to-maturity securities
U.S. government agencies $ 313,539   $ —   $ ( 69,127 ) $ 244,412  
Municipal 161,016   243   ( 5,290 ) 155,969  
Mortgage-backed: (1)

Residential Mortgage-backed securities 2,864,927   —   ( 605,014 ) 2,259,913  
Commercial (multi-family) mortgage-backed securities 6,364   —   ( 252 ) 6,112  
Collateralized mortgage obligations 211,023   815   ( 22,683 ) 189,155  
Corporate notes 56,851   8   ( 1,870 ) 54,989  
Total held-to-maturity securities $ 3,613,720   $ 1,066   $ ( 704,236 ) $ 2,910,550  
Less: Allowance for credit losses ( 457 )
Held-to-maturity securities, net of allowance for credit losses $ 3,613,263  
Equity securities with readily determinable fair value $ 220,758   $ 2,905   $ ( 8,251 ) $ 215,412  

(1) None of our mortgage-backed securities are subprime.

9

Table of Contents

June 30, 2024
Amortized
Cost Gross
Unrealized
Gains Gross
Unrealized
Losses Fair
Value
(In thousands)
Available-for-sale securities
U.S. Treasury $ 102,721   $ 5   $ ( 14 ) $ 102,712  
U.S. government agencies 50,000   —   ( 4,808 ) 45,192  
Municipal 151,347   390   ( 5,129 ) 146,608  
Corporate notes:
Financial issuers 83,996   —   ( 7,011 ) 76,985  
Other 1,000   —   ( 10 ) 990  
Mortgage-backed: (1)

Mortgage-backed securities 4,320,215   361   ( 541,742 ) 3,778,834  
Commercial (multi-family) mortgage-backed securities 18,096   8   ( 626 ) 17,478  
Collateralized mortgage obligations 179,315   629   ( 18,786 ) 161,158  
Total available-for-sale securities $ 4,906,690   $ 1,393   $ ( 578,126 ) $ 4,329,957  
Held-to-maturity securities
U.S. government agencies $ 336,458   $ —   $ ( 70,928 ) $ 265,530  
Municipal 166,400   155   ( 6,789 ) 159,766  
Mortgage-backed: (1)

Residential mortgage-backed securities 2,962,721   —   ( 591,601 ) 2,371,120  
Commercial (multi-family) mortgage-backed securities 6,390   —   ( 300 ) 6,090  
Collateralized mortgage obligations 227,247   362   ( 23,636 ) 203,973  
Corporate notes 57,199   —   ( 3,211 ) 53,988  
Total held-to-maturity securities $ 3,756,415   $ 517   $ ( 696,465 ) $ 3,060,467  
Less: Allowance for credit losses ( 491 )
Held-to-maturity securities, net of allowance for credit losses $ 3,755,924  
Equity securities with readily determinable fair value $ 117,674   $ 2,882   $ ( 8,383 ) $ 112,173  

(1) None of our mortgage-backed securities are subprime.

Equity securities without readily determinable fair values totaled $ 66.7 million as of June 30, 2025. Equity securities without readily determinable fair values are included as part of accrued interest receivable and other assets in the Company’s Consolidated Statements of Condition. The Company monitors its equity investments without readily determinable fair values to identify potential transactions that may indicate an observable price change in orderly transactions for the identical or a similar investment of the same issuer, requiring adjustment to its carrying amount. During the three months ended June 30, 2025, the Company recorded no adjustment related to such observable price changes. During the six months ended June 30, 2025, the Company recorded no upward adjustment and a downward adjustment of $ 20,000 related to such observable price changes. During the three and six months ended June 30, 2024, the Company recorded no upward or downward adjustments related to such observable price changes. The Company conducts a quarterly assessment of its equity securities without readily determinable fair values to determine whether impairment exists in such securities, considering, among other factors, the nature of the securities, financial condition of the issuer and expected future cash flows. During the three and six months ended June 30, 2025, the Company recorded $ 1.1 million impairment of equity securities without readily determinable fair values. During the three and six months ended June 30, 2024, the Company recorded $ 3.7 million impairment of equity securities without readily determinable fair values.

10

Table of Contents

The following table presents the portion of the Company’s available-for-sale investment securities portfolios that have gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at June 30, 2025:

Continuous unrealized
losses existing for
less than 12 months Continuous unrealized
losses existing for
greater than 12 months Total
(In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses
Available-for-sale securities
U.S. Treasury $ —   $ —   $ —   $ —   $ —   $ —  
U.S. government agencies —   —   45,824   ( 4,176 ) 45,824   ( 4,176 )
Municipal 46,160   ( 720 ) 50,763   ( 2,517 ) 96,923   ( 3,237 )
Corporate notes:
Financial issuers —   —   78,801   ( 3,199 ) 78,801   ( 3,199 )
Other —   —   998   ( 2 ) 998   ( 2 )
Mortgage-backed: (1)

Residential mortgage-backed securities 1,037,618   ( 12,905 ) 2,177,836   ( 465,863 ) 3,215,454   ( 478,768 )
Commercial (multi-family) mortgage-backed securities 92,662   ( 3,238 ) 6,107   ( 396 ) 98,769   ( 3,634 )
Collateralized mortgage obligations —   —   64,098   ( 17,559 ) 64,098   ( 17,559 )
Total available-for-sale securities $ 1,176,440   $ ( 16,863 ) $ 2,424,427   $ ( 493,712 ) $ 3,600,867   $ ( 510,575 )

(1) None of our mortgage-backed securities are subprime.

The Company conducts a regular assessment of its investment securities to determine whether securities are experiencing credit losses. Factors for consideration include the nature of the securities, credit ratings or financial condition of the issuer, the extent of the unrealized loss, expected cash flows, market conditions and the Company’s ability to hold the securities through the anticipated recovery period.

The Company does not consider available-for-sale securities with unrealized losses at June 30, 2025 to be experiencing credit losses and recognized no resulting allowance for credit losses for such individually assessed credit losses. The Company does not intend to sell these investments and it is more likely than not that the Company will not be required to sell these investments before recovery of the amortized cost bases, which may be the maturity dates of the securities. The unrealized losses within each category have occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase. Available-for-sale securities with continuous unrealized losses existing for more than twelve months at June 30, 2025 were primarily mortgage-backed securities with unrealized losses due to increased market rates during such period.

See Note (7) “Allowance for Credit Losses” in Item 1 of this report for further discussion regarding any credit losses associated with held-to-maturity securities at June 30, 2025.

11

Table of Contents

The following table provides information as to the amount of gross gains and losses, adjustments and impairment on investment securities recognized in earnings and proceeds received through the sale or call of investment securities:

Three months ended June 30, Six months ended June 30,
(In thousands) 2025 2024 2025 2024
Realized gains on investment securities $ 94   $ 1,325   $ 283   $ 2,360  
Realized losses on investment securities ( 263 ) ( 21 ) ( 624 ) ( 129 )
Net realized (losses) gains on investment securities ( 169 ) 1,304   ( 341 ) 2,231  
Unrealized gains on equity securities with readily determinable fair value 1,892   74   5,337   1,108  
Unrealized losses on equity securities with readily determinable fair value —   ( 1,931 ) ( 57 ) ( 2,564 )
Net unrealized gains on equity securities with readily determinable fair value 1,892   ( 1,857 ) 5,280   ( 1,456 )

Downward adjustments of equity securities without readily determinable fair values —   —   ( 20 ) —  
Impairment of equity securities without readily determinable fair values ( 1,073 ) ( 3,729 ) ( 1,073 ) ( 3,731 )
Adjustment and impairment, net, of equity securities without readily determinable fair values ( 1,073 ) ( 3,729 ) ( 1,093 ) ( 3,731 )
Gains (losses) on investment securities, net $ 650   $ ( 4,282 ) $ 3,846   $ ( 2,956 )

The amortized cost and fair value of available-for-sale and held-to-maturity investment securities as of June 30, 2025, December 31, 2024 and June 30, 2024, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties:

June 30, 2025 December 31, 2024 June 30, 2024
(In thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value
Available-for-sale securities
Due in one year or less $ 62,253   $ 62,243   $ 89,578   $ 89,392   $ 145,856   $ 145,599  
Due in one to five years 151,056   148,424   157,883   153,325   139,409   131,506  
Due in five to ten years 88,408   84,792   89,125   84,240   84,756   79,216  
Due after ten years 27,023   23,826   24,674   21,650   19,043   16,166  
Mortgage-backed 5,060,453   4,566,430   4,364,279   3,792,875   4,517,626   3,957,470  
Total available-for-sale securities $ 5,389,193   $ 4,885,715   $ 4,725,539   $ 4,141,482   $ 4,906,690   $ 4,329,957  
Held-to-maturity securities
Due in one year or less $ 30,097   $ 29,819   $ 18,929   $ 18,658   $ 8,356   $ 8,213  
Due in one to five years 99,929   98,644   110,897   108,056   114,457   109,845  
Due in five to ten years 91,099   86,363   71,846   70,277   85,507   82,499  
Due after ten years 302,699   240,268   329,734   258,379   351,737   278,727  
Mortgage-backed 2,978,760   2,414,321   3,082,314   2,455,180   3,196,358   2,581,183  
Total held-to-maturity securities $ 3,502,584   $ 2,869,415   $ 3,613,720   $ 2,910,550   $ 3,756,415   $ 3,060,467  
Less: Allowance for credit losses ( 398 ) ( 457 ) ( 491 )
Held-to-maturity securities, net of allowance for credit losses $ 3,502,186   $ 3,613,263   $ 3,755,924  

Securities having a carrying value of $ 7.3 billion at June 30, 2025 as well as securities having a carrying value of $ 6.9 billion and $ 7.6 billion at December 31, 2024 and June 30, 2024, respectively, were pledged as collateral for public deposits, trust deposits, Federal Home Loan Bank (“FHLB”) advances, Federal Reserve Bank (“FRB”) discount window, securities sold under repurchase agreements and derivatives. At June 30, 2025, there were no securities of a single issuer, other than U.S. government-sponsored agency securities, which exceeded 10% of shareholders’ equity.

12

Table of Contents

(6) Loans

The following table shows the Company’s loan portfolio by category as of the dates shown:

June 30, December 31, June 30,
(Dollars in thousands) 2025 2024 2024
Balance:
Commercial $ 16,387,431   $ 15,574,551   $ 14,154,462  
Commercial real estate 13,292,010   12,903,944   11,947,197  
Home equity 466,815   445,028   356,313  
Residential real estate 3,948,782   3,612,765   3,067,335  
Premium finance receivables—property & casualty 8,323,176   7,272,042   7,100,753  
Premium finance receivables—life insurance 8,506,960   8,147,145   7,962,115  
Consumer and other 116,505   99,562   87,356  
    Total loans, net of unearned income $ 51,041,679   $ 48,055,037   $ 44,675,531  
Mix:
Commercial 32   % 32   % 31   %
Commercial real estate 26   27   27  
Home equity 1   1   1  
Residential real estate 8   8   7  
Premium finance receivables—property & casualty 16   15   16  
Premium finance receivables—life insurance 17   17   18  
Consumer and other 0   0   0  
Total loans, net of unearned income 100   % 100   % 100   %

The Company’s loan portfolio is generally comprised of loans to consumers and small to medium-sized businesses, which, for the commercial and commercial real estate portfolios, are located primarily within the geographic market areas that the banks serve. Various niche lending businesses, including franchise lending and insurance agency lending, operate on a national level. The premium finance receivables portfolios are made to customers throughout the United States and Canada. The Company strives to maintain a loan portfolio that is diverse in terms of loan type, industry, borrower, and geographic concentrations. Such diversification reduces the exposure to economic downturns that may occur in different segments of the economy or in different industries.

Certain premium finance receivables are recorded net of unearned income. The unearned income portions of such premium finance receivables were $ 284.0  million at June 30, 2025, $ 267.7 million at December 31, 2024 and $ 248.3 million at June 30, 2024.

Total loans, excluding purchased credit deteriorated (“PCD”) loans, include net deferred loan fees and costs and fair value purchase accounting adjustments totaling $ 67.6 million at June 30, 2025, $ 78.2 million at December 31, 2024 and $ 89.6 million at June 30, 2024.

It is the policy of the Company to review each prospective credit in order to determine the appropriateness and, when required, the adequacy of security or collateral necessary to obtain when making a loan. The type of collateral, when required, will vary from liquid assets to real estate. The Company seeks to ensure access to collateral, in the event of default, through adherence to state lending laws and the Company’s credit monitoring procedures.

(7) Allowance for Credit Losses

In accordance with Accounting Standards Codification (“ASC”) 326, the Company is required to measure the allowance for credit losses of financial assets with similar risk characteristics on a collective or pooled basis. In considering the segmentation of financial assets measured at amortized cost into pools, the Company considered various risk characteristics in its analysis. Generally, the segmentation utilized represents the level at which the Company develops and documents its systematic methodology to determine the allowance for credit losses for the financial assets held at amortized cost, specifically the Company's loan portfolio and debt securities classified as held-to-maturity. Descriptions of the Company’s loan portfolio segments and major debt security types are included in Note (5) “Allowance for Credit Losses” of the 2024 Form 10-K.

13

Table of Contents

In accordance with ASC 326, the Company elected to not measure an allowance for credit losses on accrued interest. As such accrued interest is written off in a timely manner when deemed uncollectible. Any such write-off of accrued interest will reverse previously recognized interest income. In addition, the Company elected to not include accrued interest within presentation and disclosures of the carrying amount of financial assets held at amortized cost. This election is applicable to the various disclosures included within the Company's financial statements. Accrued interest related to financial assets held at amortized cost is included within accrued interest receivable and other assets within the Company's Consolidated Statements of Condition and totaled $ 341.3 million at June 30, 2025, $ 332.8 million at December 31, 2024, and $ 297.2 million at June 30, 2024.

The tables below show the aging of the Company’s loan portfolio by the segmentation noted above at June 30, 2025, December 31, 2024 and June 30, 2024:

As of June 30, 2025 90+ days and still accruing 60-89 days past due 30-59 days past due
(In thousands) Nonaccrual Current Total Loans
Loan Balances (includes PCD):

Commercial $ 80,877   $ —   $ 34,855   $ 45,103   $ 16,226,596   $ 16,387,431  

Commercial real estate
Construction and development 3,200   —   3,271   1,721   2,520,925   2,529,117  
Non-construction 29,628   —   7,986   49,452   10,675,827   10,762,893  

Home equity 1,780   —   138   2,971   461,926   466,815  

Residential real estate, excluding early buy-out loans 28,047   —   8,954   38   3,777,676   3,814,715  

Premium finance receivables—property & casualty 30,404   14,350   25,641   29,460   8,223,321   8,323,176  
Premium finance receivables—life insurance —   327   11,202   34,403   8,461,028   8,506,960  

Consumer and other 41   184   61   175   116,044   116,505  
Total loans, net of unearned income, excluding early buy-out loans $ 173,977   $ 14,861   $ 92,108   $ 163,323   $ 50,463,343   $ 50,907,612  
Early buy-out loans guaranteed by U.S. government agencies (1)
—   50,639   —   —   83,428   134,067  
Total loans, net of unearned income $ 173,977   $ 65,500   $ 92,108   $ 163,323   $ 50,546,771   $ 51,041,679  

As of December 31, 2024 90+ days and still accruing 60-89 days past due 30-59 days past due
(In thousands) Nonaccrual Current Total Loans
Loan Balances (includes PCD):

Commercial $ 73,490   $ 104   $ 54,844   $ 92,551   $ 15,353,562   $ 15,574,551  

Commercial real estate
Construction and development 2,282   —   1,339   4,634   2,425,826   2,434,081  
Non-construction 18,760   —   9,182   26,132   10,415,789   10,469,863  

Home equity 1,117   —   1,233   2,148   440,530   445,028  

Residential real estate, excluding early buy-out loans 23,762   —   5,708   18,917   3,407,622   3,456,009  

Premium finance receivables—property & casualty 28,797   16,031   19,042   68,219   7,139,953   7,272,042  
Premium finance receivables—life insurance 6,431   —   72,963   36,405   8,031,346   8,147,145  

Consumer and other 2   47   59   882   98,572   99,562  
Total loans, net of unearned income, excluding early buy-out loans $ 154,641   $ 16,182   $ 164,370   $ 249,888   $ 47,313,200   $ 47,898,281  
Early buy-out loans guaranteed by U.S. government agencies (1)
—   33,952   618   2,335   119,851   156,756  
Total loans, net of unearned income $ 154,641   $ 50,134   $ 164,988   $ 252,223   $ 47,433,051   $ 48,055,037  

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

14

Table of Contents

As of June 30, 2024 90+ days and still accruing 60-89 days past due 30-59 days past due
(In thousands) Nonaccrual Current Total Loans
Loan Balances (includes PCD):

Commercial $ 51,087   $ 304   $ 16,485   $ 36,358   $ 14,050,228   $ 14,154,462  

Commercial real estate
Construction and development 2,528   —   1,699   6,539   2,249,785   2,260,551  
Non-construction 45,761   —   4,856   31,526   9,604,503   9,686,646  

Home equity 1,100   —   275   1,229   353,709   356,313  

Residential real estate, excluding early buy-out loans 18,198   —   1,977   130   2,912,852   2,933,157  

Premium finance receivables—property & casualty 32,722   22,427   29,925   45,927   6,969,752   7,100,753  
Premium finance receivables—life insurance —   —   4,118   17,693   7,940,304   7,962,115  

Consumer and other 3   121   81   366   86,785   87,356  
Total loans, net of unearned income, excluding early buy-out loans $ 151,399   $ 22,852   $ 59,416   $ 139,768   $ 44,167,918   $ 44,541,353  
Early buy-out loans guaranteed by U.S. government agencies (1)
—   45,788   —   —   88,390   134,178  
Total loans, net of unearned income $ 151,399   $ 68,640   $ 59,416   $ 139,768   $ 44,256,308   $ 44,675,531  

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

Credit Quality Indicators

Credit quality indicators, specifically the Company's internal risk rating systems, reflect how the Company monitors credit losses and represents factors used by the Company when measuring the allowance for credit losses. Descriptions of the Company’s credit quality indicators by financial asset are included in Note (5) “Allowance for Credit Losses” of the 2024 Form 10-K.

The table below shows the Company’s loan portfolio by credit quality indicator and year of origination at June 30, 2025:

Year of Origination Revolving Total
(In thousands) 2025 2024 2023 2022 2021 Prior Revolving to Term Loans
Loan Balances:
Commercial
Pass $ 1,861,744   $ 2,991,867   $ 1,892,313   $ 1,365,222   $ 976,723   $ 1,209,968   $ 5,460,274   $ 22,740   $ 15,780,851  
Special mention 855   31,875   46,077   46,868   19,606   6,020   143,556   2,333   297,190  
Substandard accrual 2,331   16,092   27,411   58,712   41,344   15,366   65,095   2,162   228,513  
Substandard nonaccrual/doubtful 191   2,562   6,865   22,892   23,196   4,910   19,917   344   80,877  
Total commercial, industrial and other $ 1,865,121   $ 3,042,396   $ 1,972,666   $ 1,493,694   $ 1,060,869   $ 1,236,264   $ 5,688,842   $ 27,579   $ 16,387,431  
Construction and development
Pass $ 97,381   $ 594,804   $ 618,976   $ 656,080   $ 92,674   $ 138,854   $ 27,249   $ —   $ 2,226,018  
Special mention —   —   29,418   216,463   17,954   16,016   —   —   279,851  
Substandard accrual —   —   750   —   —   15,507   3,791   —   20,048  
Substandard nonaccrual/doubtful —   —   251   1,322   —   1,627   —   —   3,200  
Total construction and development $ 97,381   $ 594,804   $ 649,395   $ 873,865   $ 110,628   $ 172,004   $ 31,040   $ —   $ 2,529,117  
Non-construction
Pass $ 917,625   $ 1,325,021   $ 1,393,425   $ 1,761,340   $ 1,338,836   $ 3,394,943   $ 251,779   $ 1,496   $ 10,384,465  
Special mention 95   851   42,162   21,645   36,419   41,316   2,316   —   144,804  
Substandard accrual —   19,905   2,371   70,854   57,748   52,286   832   —   203,996  
Substandard nonaccrual/doubtful 1,257   —   1,363   305   151   26,552   —   —   29,628  
Total non-construction $ 918,977   $ 1,345,777   $ 1,439,321   $ 1,854,144   $ 1,433,154   $ 3,515,097   $ 254,927   $ 1,496   $ 10,762,893  
Home equity
Pass $ 4   $ 240   $ 48   $ 379   $ 306   $ 13,167   $ 432,865   $ 5,107   $ 452,116  
Special mention —   10   51   217   —   2,471   5,021   —   7,770  
Substandard accrual —   —   15   27   29   3,695   1,383   —   5,149  
Substandard nonaccrual/doubtful —   711   —   88   202   779   —   —   1,780  
Total home equity $ 4   $ 961   $ 114   $ 711   $ 537   $ 20,112   $ 439,269   $ 5,107   $ 466,815  
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies $ —   $ 3,819   $ 9,245   $ 5,931   $ 6,016   $ 109,056   $ —   $ —   $ 134,067  
Pass 543,216   817,417   450,707   779,797   733,763   428,540   —   —   3,753,440  
Special mention —   426   5,908   5,601   2,019   9,538   —   —   23,492  

15

Table of Contents

Substandard accrual 61   137   710   3,372   1,679   3,777   —   —   9,736  
Substandard nonaccrual/doubtful —   971   5,031   6,941   7,000   8,104   —   —   28,047  
Total residential real estate $ 543,277   $ 822,770   $ 471,601   $ 801,642   $ 750,477   $ 559,015   $ —   $ —   $ 3,948,782  
Premium finance receivables - property and casualty
Pass $ 6,914,153   $ 1,255,016   $ 6,805   $ 2,107   $ 2,083   $ —   $ —   $ —   $ 8,180,164  
Special mention 71,899   19,086   7   —   —   —   —   —   90,992  
Substandard accrual 10,739   10,871   —   4   2   —   —   —   21,616  
Substandard nonaccrual/doubtful 6,191   23,797   414   —   2   —   —   —   30,404  
Total premium finance receivables - property and casualty $ 7,002,982   $ 1,308,770   $ 7,226   $ 2,111   $ 2,087   $ —   $ —   $ —   $ 8,323,176  
Premium finance receivables - life (1)

Pass $ 278,040   $ 670,927   $ 500,062   $ 700,495   $ 1,042,504   $ 5,314,605   $ —   $ —   $ 8,506,633  
Special mention —   —   —   —   —   —   —   —   —  
Substandard accrual —   —   —   —   —   327   —   —   327  
Substandard nonaccrual/doubtful —   —   —   —   —   —   —   —   —  
Total premium finance receivables - life $ 278,040   $ 670,927   $ 500,062   $ 700,495   $ 1,042,504   $ 5,314,932   $ —   $ —   $ 8,506,960  
Consumer and other
Pass $ 3,702   $ 2,988   $ 2,129   $ 434   $ 672   $ 35,045   $ 71,211   $ —   $ 116,181  
Special mention 15   39   2   3   —   109   6   —   174  
Substandard accrual —   4   1   82   —   16   6   —   109  
Substandard nonaccrual/doubtful —   3   1   —   —   37   —   —   41  
Total consumer and other $ 3,717   $ 3,034   $ 2,133   $ 519   $ 672   $ 35,207   $ 71,223   $ —   $ 116,505  
Total loans
Early buy-out loans guaranteed by U.S. government agencies $ —   $ 3,819   $ 9,245   $ 5,931   $ 6,016   $ 109,056   $ —   $ —   $ 134,067  
Pass 10,615,865   7,658,280   4,864,465   5,265,854   4,187,561   10,535,122   6,243,378   29,343   49,399,868  
Special mention 72,864   52,287   123,625   290,797   75,998   75,470   150,899   2,333   844,273  
Substandard accrual 13,131   47,009   31,258   133,051   100,802   90,974   71,107   2,162   489,494  
Substandard nonaccrual/doubtful 7,639   28,044   13,925   31,548   30,551   42,009   19,917   344   173,977  
Total loans $ 10,709,499   $ 7,789,439   $ 5,042,518   $ 5,727,181   $ 4,400,928   $ 10,852,631   $ 6,485,301   $ 34,182   $ 51,041,679  
Gross write offs
Three months ended June 30, 2025 $ 1,281   $ 7,117   $ 1,979   $ 1,291   $ 318   $ 6,509   $ —   $ —   $ 18,495  
Six months ended June 30, 2025 $ 1,404   $ 14,803   $ 3,789   $ 3,381   $ 2,147   $ 10,420   $ —   $ —   $ 35,944  

(1) For premium finance receivables - life, the year of origination represents when the borrower’s master loan agreement was initially established.

Held-to-maturity debt securities

The Company conducts an assessment of its investment securities, including those classified as held-to-maturity, at the time of purchase and on at least an annual basis to ensure such investment securities remain within appropriate levels of risk and continue to perform satisfactorily in fulfilling its obligations. The Company considers, among other factors, the nature of the securities and credit ratings or financial condition of the issuer. If available, the Company obtains a credit rating for issuers from a Nationally Recognized Statistical Rating Organization (“NRSRO”) for consideration. If no such rating is available for an issuer, the Company performs an internal rating based on the scale utilized within the loan portfolio. For purposes of the table below, the Company has converted any issuer rating from an NRSRO into the Company’s internal ratings based on Investment Policy and review by the Company’s management.

16

Table of Contents

As of June 30, 2025 Year of Origination Total
(In thousands) 2025 2024 2023 2022 2021 Prior Balance
Amortized Cost Balances:
U.S. government agencies
1-4 internal grade $ —   $ —   $ —   $ 135,000   $ 147,825   $ 30,715   $ 313,540  
5-7 internal grade —   —   —   —   —   —   —  
8-10 internal grade —   —   —   —   —   —   —  
Total U.S. government agencies $ —   $ —   $ —   $ 135,000   $ 147,825   $ 30,715   $ 313,540  
Municipal
1-4 internal grade $ —   $ —   $ 4,091   $ 1,030   $ 6,767   $ 142,741   $ 154,629  
5-7 internal grade —   —   —   —   —   2,124   2,124  
8-10 internal grade —   —   —   —   —   —   —  
Total municipal $ —   $ —   $ 4,091   $ 1,030   $ 6,767   $ 144,865   $ 156,753  
Mortgage-backed securities
1-4 internal grade $ —   $ —   $ 310,359   $ 508,750   $ 2,159,651   $ —   $ 2,978,760  
5-7 internal grade —   —   —   —   —   —   —  
8-10 internal grade —   —   —   —   —   —   —  
Total mortgage-backed securities $ —   $ —   $ 310,359   $ 508,750   $ 2,159,651   $ —   $ 2,978,760  
Corporate notes
1-4 internal grade $ —   $ —   $ 14,971   $ —   $ 38,560   $ 53,531  
5-7 internal grade —   —   —   —   —   —   —  
8-10 internal grade —   —   —   —   —   —   —  
Total corporate notes $ —   $ —   $ —   $ 14,971   $ —   $ 38,560   $ 53,531  
Total held-to-maturity securities $ 3,502,584  
Less: Allowance for credit losses ( 398 )
Held-to-maturity securities, net of allowance for credit losses $ 3,502,186  

Measurement of Allowance for Credit Losses

The Company's allowance for credit losses consists of the allowance for loan losses, the allowance for unfunded commitment losses and the allowance for held-to-maturity debt security losses. In accordance with ASC 326, the Company measures the allowance for credit losses at the time of origination or purchase of a financial asset, representing an estimate of lifetime expected credit losses on the related asset. When developing its estimate, the Company considers available information relevant to assessing the collectability of cash flows, from both internal and external sources. Historical credit loss experience is one input in the estimation process as well as inputs relevant to current conditions and reasonable and supportable forecasts. In considering past events, the Company considers the relevance, or lack thereof, of historical information due to changes in such things as financial asset underwriting or collection practices, and changes in portfolio mix due to changing business plans and strategies. In considering current conditions and forecasts, the Company considers both the current economic environment and the forecasted direction of the economic environment with emphasis on those factors deemed relevant to or driving changes in expected credit losses. As significant judgment is required, the review of the appropriateness of the allowance for credit losses is performed quarterly by various committees with participation by the Company's executive management.

June 30, December 31, June 30,
(In thousands) 2025 2024 2024

Allowance for loan losses $ 391,654   $ 364,017   $ 363,719  
Allowance for unfunded lending-related commitments losses 65,409   72,586   73,350  
Allowance for loan losses and unfunded lending-related commitments losses 457,063   436,603   437,069  
Allowance for held-to-maturity securities losses 398   457   491  
Allowance for credit losses $ 457,461   $ 437,060   $ 437,560  

The allowance for credit losses is measured on a collective or pooled basis when similar risk characteristics exist, based upon the segmentation discussed above. The Company utilizes modeling methodologies that estimate lifetime credit loss rates on each pool. These methodologies include estimating the probability of default and loss given default on the commercial and commercial real estate segments, using the weighted-average remaining maturity methodology for the residential real estate, home equity, and consumer segments, and utilizing an assumption-based approach focusing on historical loss rates for the premium finance receivables segments. Historical credit loss history is adjusted for reasonable and supportable forecasts developed by the Company on a quantitative or qualitative basis and incorporates third party economic forecasts. Reasonable
17

Table of Contents

and supportable forecasts consider the macroeconomic factors that are most relevant to evaluating and predicting expected credit losses in the Company's financial assets. Currently, the Company utilizes an eight quarter forecast period using a single macroeconomic scenario provided by a third party and reviewed within the Company's governance structure. For periods beyond the ability to develop reasonable and supportable forecasts, the Company reverts to historical loss rates at an input level, straight-line over a four quarter reversion period. Expected credit losses are measured over the contractual term of the financial asset with consideration of expected prepayments. Expected extensions, renewals or modifications of the financial asset are considered when the expected extension, renewal or modification is contained within the existing agreement and is not unconditionally cancelable. The methodologies discussed above are applied to both current asset balances on the Company's Consolidated Statements of Condition and off-balance sheet commitments (i.e. unfunded lending-related commitments).

Assets that do not share similar risk characteristics with a pool are assessed for the allowance for credit losses on an individual basis. These typically include assets experiencing financial difficulties, including assets rated as substandard nonaccrual and doubtful. If foreclosure is probable or the asset is considered collateral-dependent, expected credit losses are measured based upon the fair value of the underlying collateral adjusted for selling costs, if appropriate. Underlying collateral across the Company's segments consist primarily of real estate, land and construction assets as well as general business assets of the borrower. As of June 30, 2025, excluding loans carried at fair value, substandard nonaccrual loans totaling $ 54.1 million in carrying balance had no related allowance for credit losses.

The Company does not measure an allowance for credit losses on accrued interest receivable balances because these balances are written off in a timely manner as a reduction to interest income when assets are placed on nonaccrual status.

Loan portfolios

A summary of activity in the allowance for credit losses, specifically for the loan portfolio (i.e. allowance for loan losses and allowance for unfunded commitment losses), for the three and six months ended June 30, 2025 and June 30, 2024 is as follows:

Three months ended June 30, 2025 Commercial Real Estate Home  Equity Residential Real Estate Premium Finance Receivables Consumer and Other Total Loans
(In thousands) Commercial

Allowance for credit losses at beginning of period $ 201,183   $ 210,010   $ 9,139   $ 10,652   $ 16,039   $ 918   $ 447,941  

Other adjustments —   —   —   —   180   —   180  
Charge-offs ( 6,148 ) ( 5,711 ) ( 111 ) —   ( 6,346 ) ( 179 ) ( 18,495 )
Recoveries 1,746   10   30   2   3,335   32   5,155  
Provision for credit losses - Other ( 2,213 ) 20,049   163   801   3,404   78   22,282  

Allowance for credit losses at period end $ 194,568   $ 224,358   $ 9,221   $ 11,455   $ 16,612   $ 849   $ 457,063  
By measurement method:
Individually measured $ 35,129   $ 8,127   $ —   $ 103   $ —   $ 4   $ 43,363  
Collectively measured 159,439   216,231   9,221   11,352   16,612   845   413,700  

Loans at period end
Individually measured $ 80,877   $ 32,828   $ 1,780   $ 27,960   $ —   $ 41   $ 143,486  
Collectively measured 16,306,554   13,259,182   465,035   3,783,938   16,830,136   116,464   50,761,309  

Loans held at fair value —   —   —   136,884   —   136,884  

18

Table of Contents

Three months ended June 30, 2024 Commercial Commercial Real Estate Home  Equity Residential Real Estate Premium Finance Receivables Consumer and Other Total Loans
(In thousands)

Allowance for credit losses at beginning of period $ 166,518   $ 226,052   $ 7,191   $ 13,701   $ 13,330   $ 383   $ 427,175  

Other adjustments —   —   —   —   ( 19 ) —   ( 19 )

Charge-offs ( 9,584 ) ( 15,526 ) —   ( 23 ) ( 9,486 ) ( 137 ) ( 34,756 )
Recoveries 950   90   35   8   3,663   24   4,770  
Provision for credit losses 24,107   13,112   16   ( 4,913 ) 7,258   319   39,899  
Allowance for credit losses at period end $ 181,991   $ 223,728   $ 7,242   $ 8,773   $ 14,746   $ 589   $ 437,069  
By measurement method:
Individually measured $ 30,927   $ 6,330   $ —   $ 32   $ —   $ 1   $ 37,290  
Collectively measured 151,064   217,398   7,242   8,741   14,746   588   399,779  

Loans at period end
Individually measured $ 51,087   $ 48,289   $ 1,100   $ 17,807   $ —   $ 3   $ 118,286  
Collectively measured 14,103,375   11,898,908   355,213   2,913,694   15,062,868   87,353   44,421,411  

Loans held at fair value —   —   —   135,834   —   —   135,834  

Six months ended June 30, 2025 Commercial Real Estate Home  Equity Residential Real Estate Premium Finance Receivables Consumer and Other Total Loans
(In thousands) Commercial

Allowance for credit losses at beginning of period $ 175,837   $ 222,856   $ 8,943   $ 10,335   $ 17,820   $ 812   $ 436,603  

Other adjustments —   —   —   —   184   —   184  
Charge-offs ( 15,870 ) ( 6,165 ) ( 111 ) —   ( 13,472 ) ( 326 ) ( 35,944 )
Recoveries 2,675   22   246   138   6,822   61   9,964  
Provision for credit losses - Other 31,926   7,645   143   982   5,258   302   46,256  

Allowance for credit losses at period end $ 194,568   $ 224,358   $ 9,221   $ 11,455   $ 16,612   $ 849   $ 457,063  

Six months ended June 30, 2024 Commercial Real Estate Home  Equity Residential Real Estate Premium Finance Receivables Consumer and Other Total Loans
(In thousands) Commercial

Allowance for credit losses at beginning of period $ 169,604   $ 223,853   $ 7,116   $ 13,133   $ 13,069   $ 490   $ 427,265  

Other adjustments —   —   —   —   ( 50 ) —   ( 50 )
Charge-offs ( 20,799 ) ( 20,995 ) ( 74 ) ( 61 ) ( 16,424 ) ( 244 ) ( 58,597 )
Recoveries 1,429   121   64   10   5,190   47   6,861  
Provision for credit losses 31,757   20,749   136   ( 4,309 ) 12,961   296   61,590  
Allowance for credit losses at period end $ 181,991   $ 223,728   $ 7,242   $ 8,773   $ 14,746   $ 589   $ 437,069  

For the three and six months ended June 30, 2025, the Company recognized approximately $ 22.3 million and $ 46.3 million of provision for credit losses, respectively, related to loans and lending agreements. The provision for each period was primarily the result of losses experienced in the Commercial, Commercial Real Estate and Premium Finance Receivables portfolios along with growth across various segments, which was offset by improved macroeconomic forecasts related to Baa credit spread and CRE Price Index. However, uncertainties remain regarding future economic performance and macroeconomic forecasts utilized in the measurement of the allowance for credit losses as of June 30, 2025, thus a macroeconomic uncertainty qualitative overlay continued to be applied in the second quarter of 2025, related to widening credit spreads. Net charge-offs in the three and six month periods ended June 30, 2025, totaled $ 13.3 million and $ 26.0 million, respectively.

Held-to-maturity debt securities

The allowance for credit losses on the Company’s held-to-maturity debt securities is presented as a reduction to the amortized cost basis of held-to-maturity securities on the Company's Consolidated Statements of Condition. For the three and six month periods ended June 30, 2025, the Company recognized approximately $( 48,000 ) and $( 59,000 ), respectively, of provision for credit losses related to held-to-maturity securities. At June 30, 2025, the Company did not identify any held-to-maturity debt securities within its portfolio that would require a charge-off.

19

Table of Contents

Loan Modifications to Borrowers Experiencing Financial Difficulties

The Company’s approach to restructuring or modifying loans is built on its credit risk rating system, which requires credit management personnel to assign a credit risk rating to each loan. In each case, the loan officer is responsible for recommending a credit risk rating for each loan and ensuring the credit risk ratings are appropriate. These credit risk ratings are then reviewed and approved by the bank’s chief credit officer and/or concurrence credit officer. Credit risk ratings are determined by evaluating a number of factors, including a borrower’s financial strength, cash flow coverage, collateral protection and guarantees. The Company’s credit risk rating scale is one through ten with higher scores indicating higher risk. In the case of loans rated six or worse following modification, the Company’s Managed Assets Division evaluates the loan and the credit risk rating and determines that the loan has been restructured to be reasonably assured of repayment and of performance according to the modified terms and is supported by a current, well-documented credit assessment of the borrower’s financial condition and prospects for repayment under the revised terms. Based on the Company’s credit risk rating system, it considers that borrowers whose credit risk rating is 5 or better are not experiencing financial difficulties.

Restructurings may arise when, due to financial difficulties experienced by the borrower, the Company obtains through physical possession one or more collateral assets in satisfaction of all or part of an existing credit. Once possession is obtained, the Company reclassifies the appropriate portion of the remaining balance of the credit from loans to other real estate owned (“OREO”), which is included within other assets in the Consolidated Statements of Condition. For any residential real estate property collateralizing a consumer mortgage loan, the Company is considered to possess the related collateral only if legal title is obtained upon completion of foreclosure, or the borrower conveys all interest in the residential real estate property to the Company through completion of a deed in lieu of foreclosure or similar legal agreement. At June 30, 2025, the Company had no foreclosed residential real estate properties included within OREO. Further, the recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $ 58.2 million and $ 43.8 million at June 30, 2025 and 2024, respectively.

The tables below presents a summary of the period-end balance of loans to borrowers experiencing financial difficulties during the three and six months ended June 30, 2025 and 2024:

Three Months Ended
June 30, 2025
 (Dollars in thousands)
Total Percentage of Total Class of Loan Extension of Term Reduction of 
Interest
Rate Interest Only
Payments Delay in Contractual Payments Extension of Term and Reduction of Interest Rate

Commercial $ 35 0.0   % $ —   $ 11   $ —   $ —   $ 24  

Commercial real estate
Construction and development — —   —   —   —   —   —  
Non-construction — —   —   —   —   —   —  

Home equity — —   —   —   —   —   —  
Residential real estate 282 0.0   —   282   —   —   —  
Premium finance receivables—property & casualty 885 0.0   885   —   —   —   —  
Total loans $ 1,202 0.0   % $ 885   $ 293   $ —   $ —   $ 24  

Weighted Average Magnitude of Modifications:
 Three Months Ended June 30, 2025
 (Dollars in thousands)
Total Duration of Extension of Term (months) Reduction of 
Interest
Rate (bps) Duration of Delay in Contractual Payments (months)

Commercial $ 35   51 72   —  

Commercial real estate
Construction and development —   —   —   —  
Non-construction —   —   —   —  

Home equity —   —   —   —  
Residential real estate 282   — 123   —  

Premium finance receivables—property & casualty 885   12 —   —  
Total loans $ 1,202   13 117   —  

20

Table of Contents

Three Months Ended
June 30, 2024
(Dollars in thousands)
Total Percentage of Total Class of Loan Extension of
Term Reduction of 
Interest
Rate Interest Only Payments Delay in Contractual Payments Extension of
Term and
Reduction of Interest Rate

Commercial $ 2,161 0.0   % $ 2,010   $ —   $ —   $ 97   $ 54  

Commercial real estate - Non-construction 340 0.0   21   —   319   —   —  

Residential real estate 81 0.0   81   —   —   —   —  

Premium finance receivables—property & casualty 6 0.0   3   3   —   —   —  
Total loans $ 2,588 0.0   % $ 2,115   $ 3   $ 319   $ 97   $ 54  

Weighted Average Magnitude of Modifications:
Three Months Ended June 30, 2024
(Dollars in thousands)
Total Duration of Extension of Term (months) Reduction of 
Interest
Rate (bps) Duration of Delay in Contractual Payments (months)

Commercial $ 2,161   5 143   34

Commercial real estate - Non-construction 340   13 —   0

Residential real estate 81   12 —   —

Premium finance receivables—property & casualty 6   2 86   —
Total loans $ 2,588   7 140   34

Six Months Ended
June 30, 2025
(Dollars in thousands)
Total Percentage of Total Class of Loan Extension of Term Reduction of 
Interest
Rate Interest Only
Payments Delay in Contractual Payments Extension of Term and Reduction of Interest Rate

Commercial $ 12,732   0.2   % $ 12,465   $ 11   $ 31   $ —   $ 225  
Commercial real estate
Construction and development —   —   —   —   —   —   —  
Non-construction —   —   —   —   —   —   —  
Home equity —   —   —   —   —   —   —  
Residential real estate 1,144   0.0   162   282   —   —   700  

Premium finance receivables—property & casualty 885   0.0   885   —   —   —   —  
Total loans $ 14,761   0.0   $ 13,512   $ 293   $ 31   $ —   $ 925  

Weighted Average Magnitude of Modifications:
Six Months Ended June 30, 2025
(Dollars in thousands)
Total Duration of Extension of Term (months) Reduction of 
Interest
Rate (bps) Duration of Delay in Contractual Payments (months)

Commercial $ 12,732   10 50   —  
Commercial real estate
Construction and development —   —   —   —  
Non-construction —   —   —   —  
Home equity —   —   —   —  
Residential real estate 1,144   48 152   —

Premium finance receivables—property & casualty 885   12 —   —  
Total loans $ 14,761   12 138   —  

21

Table of Contents

Six Months Ended
June 30, 2024
(Dollars in thousands)
Total Percentage of Total Class of Loan Extension of
Term Reduction of 
Interest
Rate Interest Only Payments Delay in Contractual Payments Extension of
Term and
Reduction of Interest Rate

Commercial $ 3,219   0.0   % $ 2,956   $ —   $ —   $ 97   $ 166  

Commercial real estate - Non-construction 1,469   0.0   293   —   319   857   —  
Home equity 89   0.0   89   —   —   —   —  
Residential real estate 282   0.0   114   168   —   —   —  

Premium finance receivables—property & casualty 6   0.0   3   3   —   —   —  
Total loans $ 5,065   0.0   % $ 3,455   $ 171   $ 319   $ 954   $ 166  

Weighted Average Magnitude of Modifications:
Six months ended June 30, 2024
(Dollars in thousands)
Total Duration of Extension of Term (months) Reduction of 
Interest
Rate (bps) Duration of Delay in Contractual Payments (months)

Commercial $ 3,219   8 113 34

Commercial real estate - Non-construction 1,469   29 —   16
Home equity 89   12 —   — 
Residential real estate 282   19 201 — 

Premium finance receivables—property & casualty $ 6   2 86 $ — 
Total loans $ 5,065   11 $ 156   18

The Company had commitments of $ 21.0 million and $ 5.1 million as of June 30, 2025 and June 30, 2024, respectively, to lend additional funds to borrowers experiencing financial difficulty and for whom the Company has modified the terms of loans in the form of principal forgiveness, an interest rate reduction, an other-than insignificant payment delay or a term extension during the periods presented.

The following table presents a summary of all modified loans for borrowers experiencing financial difficulties and such loans that were in payment default under the restructured terms during the respective periods below:

(Dollars in thousands) For the Twelve Months Ended June 30, 2025
Three Months Ended
June 30, 2025
Six Months Ended
June 30, 2025
For the Twelve Months Ended June 30, 2024
Three Months Ended
June 30, 2024
Six Months Ended
June 30, 2024

Total Payments in Default   (1)
Payments in 
Default   (1)
Total Payments in 
Default   (1)
Payments in 
Default   (1)

Commercial $ 20,731   $ 11   $ 123   $ 4,685   $ 1,784   $ 1,784  
Commercial real estate
Construction and development —   —   —   2,486   —   —  
Non-construction 752   —   —   2,644   639   2,443  
Home equity —   —   —   586   —   —  
Residential real estate 1,144   —   700   417   384   384  

Premium finance receivables—property & casualty 1,230   885   885   18   14   14  
Total loans $ 23,857   $ 896   $ 1,708   $ 10,836   $ 2,821   $ 4,625  

(1) Modified loans considered to be in payment default are over 30 days past due subsequent to the restructuring.

22

Table of Contents

(8) Goodwill and Other Acquisition-Related Intangible Assets

A summary of the Company’s goodwill assets by reporting unit is presented in the following table:

(In thousands) December 31, 2024 Goodwill
Acquired Impairment
Loss Goodwill Adjustments June 30,
2025
Community banking $ 687,754   $ —   $ —   $ —   $ 687,754  
Specialty finance 37,193   —   —   1,202   38,395  
Wealth management 71,995   —   —   —   71,995  
    Total $ 796,942   $ —   $ —   $ 1,202   $ 798,144  

The specialty finance unit’s goodwill increased $ 1.2 million in the first six months of 2025 as a result of foreign currency translation adjustments related to the prior Canadian acquisitions.

The Company assesses each reporting unit’s goodwill for impairment on at least an annual basis and considers potential indicators of impairment at each reporting date between annual goodwill impairment tests. At October 1, 2024, the Company utilized a quantitative approach for its annual goodwill impairment tests of the community banking, specialty finance and wealth management reporting units and determined that no impairment existed at that time.

At each reporting date between annual goodwill impairment tests, the Company considers potential indicators of impairment. The Company assessed whether events and circumstances resulted in it being more likely than not that the fair value of any reporting unit was less than its carrying value. Potential impairment indicators considered include the condition of the economy and banking industry; government intervention and regulatory updates; the impact of recent events to financial performance and cost factors of the reporting units; performance of the Company’s stock and other relevant events.

At the conclusion of this assessment of all reporting units, the Company determined that as of June 30, 2025, it was more likely than not that the fair value of all reporting units exceeded the respective carrying value of such reporting unit.

23

Table of Contents

A summary of acquisition-related intangible assets as of the dates shown and the expected amortization of finite-lived acquisition-related intangible assets as of June 30, 2025 is as follows:

(In thousands) June 30,
2025 December 31,
2024 June 30,
2024
Community banking segment:
Core deposit intangibles with finite lives:
Gross carrying amount $ 158,106   $ 158,106   $ 55,206  
Accumulated amortization ( 67,301 ) ( 56,784 ) ( 47,666 )
    Net carrying amount $ 90,805   $ 101,322   $ 7,540  
Trademark with indefinite lives:
Carrying amount 13,800   13,800   5,800  
Total net carrying amount $ 104,605   $ 115,122   $ 13,340  
Specialty finance segment:
Customer list intangibles with finite lives:
Gross carrying amount $ 1,962   $ 1,959   $ 1,961  
Accumulated amortization ( 1,915 ) ( 1,881 ) ( 1,861 )
    Net carrying amount $ 47   $ 78   $ 100  
Wealth management segment:
Customer list and other intangibles with finite lives:
Gross carrying amount $ 26,630   $ 26,630   $ 26,630  
Accumulated amortization ( 20,787 ) ( 20,140 ) ( 19,463 )
    Net carrying amount $ 5,843   $ 6,490   $ 7,167  
Total acquisition-related intangible assets:
Gross carrying amount $ 200,498   $ 200,495   $ 89,597  
Accumulated amortization ( 90,003 ) ( 78,805 ) ( 68,990 )
Total other acquisition-related intangible assets, net $ 110,495   $ 121,690   $ 20,607  

Estimated amortization
Actual in six months ended June 30, 2025 $ 11,198  
Estimated remaining in 2025
10,203  
Estimated—2026
18,830  
Estimated—2027
16,333  
Estimated—2028
13,908  
Estimated—2029
11,536  

The core deposit intangibles recognized in connection with the Company’s bank acquisitions are amortized over a ten-year period on an accelerated basis. The customer list intangibles recognized in connection with the purchase of life insurance premium finance assets in 2009 are being amortized over an 18-year period on an accelerated basis. The customer list and other intangibles recognized in connection with prior acquisitions within the wealth management segment are being amortized over a period of up to ten years on a straight-line or accelerated basis. Indefinite-lived intangible assets consist of certain trade and domain names recognized in connection with prior acquisitions. As indefinite-lived intangible assets are not amortized, the Company assesses impairment on at least an annual basis. Total amortization expense associated with finite-lived acquisition-related intangibles totaled approximately $ 11.2 million and $ 2.3 million for the six months ended June 30, 2025 and 2024, respectively.

24

Table of Contents

(9) Mortgage Servicing Rights (“MSRs”)

The following is a summary of the changes in the carrying value of MSRs, accounted for at fair value, for the periods indicated:

Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
(In thousands) 2025 2024 2025 2024
Fair value at beginning of the period $ 196,307   $ 201,044   $ 203,788   $ 192,456  
Additions from loans sold with servicing retained 6,336   8,223   11,005   13,602  

Estimate of changes in fair value due to:

Payoffs, paydowns and repurchases ( 5,616 ) ( 5,534 ) ( 10,252 ) ( 9,920 )
Changes in valuation inputs or assumptions ( 3,966 ) 877   ( 11,480 ) 8,472  
Fair value at end of the period $ 193,061   $ 204,610   $ 193,061   $ 204,610  
Unpaid principal balance of mortgage loans serviced for others $ 12,470,924   $ 12,211,027  

The Company recognizes MSR assets upon the sale of residential real estate loans to external third parties when it retains the obligation to service the loans and the servicing fee is more than adequate compensation. MSRs are included in other assets in the Consolidated Statements of Condition. The initial recognition of MSR assets from loans sold with servicing retained and subsequent changes in fair value of all MSRs are recognized in mortgage banking revenue . MSRs are subject to changes in value from actual and expected prepayment of the underlying loans.

The estimation of fair value related to MSRs is partly impacted by the Company exercising its early buyout options (“EBO”) on eligible loans previously sold to the Government National Mortgage Association (“GNMA”). Under such optional repurchase program, financial institutions acting as servicers are allowed to buy back from the securitized loan pool individual delinquent mortgage loans meeting certain criteria for which the institution was the original transferor of such loans. At the option of the servicer and without prior authorization from GNMA, the servicer may repurchase such delinquent loans for an amount equal to the remaining principal balance of the loan. At the time of such repurchase, any MSR value related to such loans is derecognized.

The MSR asset fair value is determined by using a discounted cash flow model that incorporates the objective characteristics of the portfolio as well as subjective valuation parameters that purchasers of servicing would apply to such portfolios sold into the secondary market. The subjective factors include loan prepayment speeds, discount rates, servicing costs and other economic factors. The Company uses a third party to assist in the valuation of MSRs.

Periodically, the Company will purchase options for the right to purchase securities not currently held within the banks’ investment portfolios or enter into interest rate swaps in which the Company elects not to designate such derivatives as hedging instruments. These option and swap transactions are designed primarily to economically hedge a portion of the fair value adjustments related to the Company’s MSRs. The gain or loss associated with these derivative contracts is included in mortgage banking revenue. For more information regarding these hedges outstanding as of June 30, 2025 and June 30, 2024, see Note (14) “Derivative Financial Instruments” in Item 1 of this report.

25

Table of Contents

(10) Deposits

The following table is a summary of deposits as of the dates shown:  

(Dollars in thousands) June 30,
2025 December 31,
2024 June 30,
2024
Balance:
Non-interest-bearing $ 10,877,166   $ 11,410,018   $ 10,031,440  
NOW and interest-bearing demand deposits 6,795,725   5,865,546   5,053,909  
Wealth management deposits 1,595,764   1,469,064   1,490,711  
Money market 19,556,041   17,975,191   16,320,017  
Savings 6,659,419   6,372,499   5,882,179  
Time certificates of deposit 10,332,696   9,420,031   9,270,770  
Total deposits $ 55,816,811   $ 52,512,349   $ 48,049,026  
Mix:
Non-interest-bearing 19   % 22   % 21   %
NOW and interest-bearing demand deposits 12   11   11  
Wealth management deposits 3   3   3  
Money market 35   34   34  
Savings 12   12   12  
Time certificates of deposit 19   18   19  
Total deposits 100   % 100   % 100   %

Wealth management deposits represent deposit balances (primarily money market accounts) at the Company’s subsidiary banks from brokerage customers of Wintrust Investments, LLC (“Wintrust Investments”), Chicago Deferred Exchange Company (“CDEC”) and trust and asset management customers of the Company.

(11) FHLB Advances, Other Borrowings and Subordinated Notes

The following table is a summary of FHLB advances, other borrowings and subordinated notes as of the dates shown:

(In thousands) June 30,
2025 December 31,
2024 June 30,
2024
FHLB advances $ 3,151,309   $ 3,151,309   $ 3,176,309  
Other borrowings:
Notes payable 128,500   142,763   157,024  

Secured borrowings 440,558   334,934   391,395  
Other 56,334   57,106   58,160  
Total other borrowings 625,392   534,803   606,579  
Subordinated notes 298,458   298,283   298,113  
Total FHLB advances, other borrowings and subordinated notes $ 4,075,159   $ 3,984,395   $ 4,081,001  

Descriptions of the Company’s FHLB advances, other borrowings, and subordinated notes are included in Note (11) “Federal Home Loan Bank Advances,” Note (12) “Subordinated Notes” and Note (13) “Other Borrowings” of the 2024 Form 10-K.

Notes Payable
Notes payable balances represent the balances on the Company’s credit agreement with certain unaffiliated banks. At June 30, 2025, the outstanding principal balance under the term loan facility was $ 128.5 million and there was no outstanding balance under the revolving credit facility. Borrowings under notes payable are secured by pledges of and first priority perfected security interests in the Company’s equity interest in its bank subsidiaries and contain several restrictive covenants, including the maintenance of various capital adequacy levels, asset quality and profitability ratios, and certain restrictions on dividends and other indebtedness. At June 30, 2025, the Company was in compliance with all such covenants.

26

Table of Contents

Secured Borrowings

The balance of secured borrowings primarily represents a third party Canadian transaction (“Canadian Secured Borrowing”). Under the Canadian Secured Borrowing, the Company, through its subsidiary, FIFC Canada, sells an undivided co-ownership interest in all receivables owed to FIFC Canada to an unrelated third party in exchange for cash payments pursuant to a receivables purchase agreement (“Receivables Purchase Agreement”). On August 29, 2024, the Company entered into the Twelfth Amending Agreement to the Receivables Purchase Agreement dated as of December 16, 2014. The amended Receivables Purchase Agreement provides for, among other things, an extension of the maturity date to December 15, 2025 and an increase to the facility limit from C$ 520  million to C$ 650  million.

At June 30, 2025, the translated balance of the secured borrowings totaled $ 426.2 million compared to $ 323.2 million at December 31, 2024 and $ 380.3 million at June 30, 2024. The interest rate under the Receivables Purchase Agreement is the Canadian Commercial Paper Rate plus fee rate of 0.825 %.

The remaining $ 14.4 million, $ 11.7  million and $ 11.1 million within secured borrowings at June 30, 2025, December 31, 2024 and June 30, 2024, respectively, represent other sold interests in certain loans by the Company that were not considered sales and, as such, related proceeds received are reflected on the Company’s Consolidated Statements of Condition as a secured borrowing owed to the various unrelated third parties.

Other Borrowings

Other borrowings represent a promissory note (“Promissory Note”) issued by the Company in June 2017. Subsequent amendments to the Promissory Note since issuance increased the principal amount to $ 66.4  million, changed the interest rate to a floating rate equal to 1-month CME Term SOFR plus a spread of 1.40 % and extended the maturity date to March 31, 2028. The Promissory Note contains several restrictive covenants, including the maintenance of various capital adequacy levels, asset quality and profitability ratios, and certain restrictions on dividends and indebtedness. At June 30, 2025, the Company was in compliance with all such covenants.

Subordinated Notes

At June 30, 2025, the Company had outstanding subordinated notes totaling $ 298.5  million compared to $ 298.3  million and $ 298.1  million at December 31, 2024 and June 30, 2024, respectively. The notes issued in 2019 have a stated interest rate of 4.85 % and mature in June 2029. In the second quarter of 2024, the Company repaid the $ 140.0  million of subordinated notes issued in 2014. The notes had a stated interest rate of 5.00 % and matured in June 2024.

(12) Junior Subordinated Debentures

The following table provides a summary of the Company’s junior subordinated debentures as of June 30, 2025. The junior subordinated debentures represent the par value of the obligations owed to the Trusts.
27

Table of Contents

(Dollars in thousands) Common
Securities Trust 
Preferred
Securities Junior
Subordinated
Debentures Rate
Structure (1)
Contractual
Rate at 6/30/2025
Issue
Date Maturity
Date Earliest
Redemption
Date
Wintrust Capital Trust III $ 774   $ 25,000   $ 25,774   S+ 0.26161 + 3.25
7.77   % 04/2003 04/2033 04/2008
Wintrust Statutory Trust IV 619   20,000   20,619   S+ 0.26161 + 2.80
7.36   % 12/2003 12/2033 12/2008
Wintrust Statutory Trust V 1,238   40,000   41,238   S+ 0.26161 + 2.60
7.16   % 05/2004 05/2034 06/2009
Wintrust Capital Trust VII 1,550   50,000   51,550   S+ 0.26161 + 1.95
6.53   % 12/2004 03/2035 03/2010
Wintrust Capital Trust VIII 1,238   25,000   26,238   S+ 0.26161 + 1.45
6.01   % 08/2005 09/2035 09/2010
Wintrust Capital Trust IX 1,547   50,000   51,547   S+ 0.26161 + 1.63
6.21   % 09/2006 09/2036 09/2011
Northview Capital Trust I 186   6,000   6,186   S+ 0.26161 + 3.00
7.54   % 08/2003 11/2033 08/2008
Town Bankshares Capital Trust I 186   6,000   6,186   S+ 0.26161 + 3.00
7.54   % 08/2003 11/2033 08/2008
First Northwest Capital Trust I 155   5,000   5,155   S+ 0.26161 + 3.00
7.56   % 05/2004 05/2034 05/2009
Suburban Illinois Capital Trust II 464   15,000   15,464   S+ 0.26161 + 1.75
6.33   % 12/2006 12/2036 12/2011
Community Financial Shares Statutory Trust II 109   3,500   3,609   S+ 0.26161 + 1.62
6.20   % 06/2007 09/2037 06/2012
Total $ 253,566   6.76   %

(1) The interest rates on the variable rate junior subordinated debentures are based on the three-month Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) and reset on a quarterly basis.

The junior subordinated debentures totaled $ 253.6 million at June 30, 2025, December 31, 2024 and June 30, 2024. At June 30, 2025, the weighted average contractual interest rate on the junior subordinated debentures was 6.76 %.

(13) Segment Information

The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.

The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the sixteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures, and economic characteristics.

For purposes of internal segment profitability, management allocates certain intersegment and parent company balances. Management allocates a portion of revenues to the specialty finance segment related to loans and leases originated by the specialty finance segment and sold or assigned to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note (10) “Deposits” in Item 1 of this report for more information on these deposits. Finally, expenses incurred at the Wintrust parent company are allocated to each segment based on each segment’s risk-weighted assets.

The segment financial information provided in the following table has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are substantially similar to those described in Note (1) “Summary of Significant Accounting Policies” of the 2024 Form 10-K.

Our Chief Executive Officer is our chief operating decision maker (“CODM”). The CODM uses income before taxes to review segment performance and allocate resources for each reportable segment. Financial information regarding each significant segment expense outlined below is regularly provided (at least monthly) to the CODM. For community banking and specialty finance segments, ‘Interest expense’ is a significant segment expense. Additionally, for each of the three reportable segments, ‘Salaries’, ‘Commissions and incentive compensation’ and ‘Benefits’ are significant segment expenses.
28

Table of Contents

The following is a summary of certain operating information for reportable segments:

(In thousands)
Community
Banking Specialty
Finance Wealth
Management Total Operating Segments Intersegment Eliminations Consolidated
Three Months Ended June 30, 2025:
Interest income $ 800,316   $ 102,737   $ 4,964   $ 908,017   $ 12,891   $ 920,908  
Interest expense 363,660   10,427   127   374,214   —   374,214  
Net interest income 436,656   92,310   4,837   533,803   12,891   546,694  
Provision for credit losses 20,478   1,756   —   22,234   —   22,234  
Non-interest income 75,498   33,524   39,538   148,560   ( 24,471 ) 124,089  
Non-interest expense:
Salaries 96,902   15,638   10,103   122,643   531   123,174  
Commissions and incentive compensation 33,325   9,976   12,570   55,871   —   55,871  
Benefits 32,107   5,906   2,483   40,496   —   40,496  
Other segment expenses (1)
139,710   25,090   9,231   174,031   ( 12,111 ) 161,920  
Total non-interest expense 302,044   56,610   34,387   393,041   ( 11,580 ) 381,461  
Income before taxes 189,632   67,468   9,988   267,088   —   267,088  
Income tax expense 50,499   18,672   2,390   71,561   —   71,561  
Net income $ 139,133   $ 48,796   $ 7,598   $ 195,527   $ —   $ 195,527  
Total assets at period end $ 55,924,843   $ 12,062,568   $ 995,907   $ 68,983,318   $ —   $ 68,983,318  
Three Months Ended June 30, 2024:
Interest income $ 725,514   $ 107,650   $ 8,156   $ 841,320   $ 8,659   $ 849,979  
Interest expense 366,682   12,459   228   379,369   —   379,369  
Net interest income 358,832   95,191   7,928   461,951   8,659   470,610  
Provision for credit losses 36,325   3,736   —   40,061   —   40,061  
Non-interest income 71,619   32,317   35,605   139,541   ( 18,394 ) 121,147  
Non-interest expense:
Salaries 88,294   15,747   9,431   113,472   388   113,860  
Commissions and incentive compensation 31,251   8,580   12,320   52,151   —   52,151  
Benefits 25,546   4,601   2,383   32,530   —   32,530  
Other segment expenses (1)
121,123   22,314   8,498   151,935   ( 10,123 ) 141,812  
Total non-interest expense 266,214   51,242   32,632   350,088   ( 9,735 ) 340,353  
Income before taxes 127,912   72,530   10,901   211,343   —   211,343  
Income tax expense 36,677   19,439   2,839   58,955   —   58,955  
Net income $ 91,235   $ 53,091   $ 8,062   $ 152,388   $ —   $ 152,388  
Total assets at period end $ 47,611,508   $ 11,014,840   $ 1,155,168   $ 59,781,516   $ —   $ 59,781,516  

(1) Other segment items include non-interest expense categories such as ‘Software & Equipment’, ‘Data processing’, ‘Advertising and Marketing’, ‘FDIC Insurance’, and ‘Occupancy’. See “Non-Interest Expense” under Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 2 of this Form 10-Q for further discussion on non-interest expense.

29

Table of Contents

(In thousands)
Community
Banking Specialty
Finance Wealth
Management Total Operating Segments Intersegment Eliminations Consolidated
Six Months Ended June 30, 2025:
Interest income $ 1,569,284   $ 204,435   $ 10,495   $ 1,784,214   $ 23,659   $ 1,807,873  
Interest expense 713,617   20,818   270   734,705   —   734,705  
Net interest income 855,667   183,617   10,225   1,049,509   23,659   1,073,168  
Provision for credit losses 42,906   3,291   —   46,197   —   46,197  
Non-interest income 148,991   64,563   73,328   286,882   ( 46,159 ) 240,723  
Non-interest expense:
Salaries 195,488   31,400   19,207   246,095   996   247,091  
Commissions and incentive compensation 65,462   19,017   23,928   108,407   —   108,407  
Benefits 59,481   10,624   5,464   75,569   —   75,569  
Other segment expenses (1)
272,200   48,535   19,245   339,980   ( 23,496 ) 316,484  
Total non-interest expense 592,631   109,576   67,844   770,051   ( 22,500 ) 747,551  
Income before taxes 369,121   135,313   15,709   520,143   —   520,143  
Income tax expense 95,718   36,224   3,635   135,577   —   135,577  
Net income $ 273,403   $ 99,089   $ 12,074   $ 384,566   $ —   $ 384,566  

Six Months Ended June 30, 2024:
Interest income $ 1,417,411   $ 202,794   $ 16,159   $ 1,636,364   $ 19,128   $ 1,655,492  
Interest expense 694,894   25,321   473   720,688   —   720,688  
Net interest income 722,517   177,473   15,686   915,676   19,128   934,804  
Provision for credit losses 56,717   5,017   —   61,734   —   61,734  
Non-interest income 146,255   59,634   94,090   299,979   ( 38,252 ) 261,727  
Non-interest expense:
Salaries 174,976   30,285   19,873   225,134   898   226,032  
Commissions and incentive compensation 61,033   17,219   24,900   103,152   —   103,152  
Benefits 50,222   8,915   5,393   64,530   —   64,530  
Other segment expenses (1)
237,723   45,095   16,988   299,806   ( 20,022 ) 279,784  
Total non-interest expense 523,954   101,514   67,154   692,622   ( 19,124 ) 673,498  
Income before taxes 288,101   130,576   42,622   461,299   —   461,299  
Income tax expense 76,819   34,962   9,836   121,617   —   121,617  
Net income $ 211,282   $ 95,614   $ 32,786   $ 339,682   $ —   $ 339,682  

(1) Other segment items include non-interest expense categories such as ‘Software & Equipment’, ‘Data processing’, ‘Advertising and Marketing’, ‘FDIC Insurance’, and ‘Occupancy’. See “Non-Interest Expense” under Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 2 of this Form 10-Q for further discussion on non-interest expense.

(14) Derivative Financial Instruments

The Company primarily enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Derivative instruments represent contracts between parties that result in one party delivering cash to the other party based on a notional amount and an underlying term (such as a rate, security price or price index or commodity price) as specified in the contract. The amount of cash delivered from one party to the other is determined based on the interaction of the notional amount of the contract with the underlying term. Derivatives are also implicit in certain contracts and commitments.

The derivative financial instruments currently used by the Company to manage its exposure to interest rate risk include: (1) interest rate swaps and collars to manage the interest rate risk of certain fixed and variable rate assets and variable rate liabilities; (2) interest rate lock commitments provided to customers to fund certain mortgage loans to be sold into the secondary market; (3) forward commitments for the future delivery of such mortgage loans to protect the Company from adverse changes in interest rates and corresponding changes in the value of mortgage loans held-for-sale; (4) covered call options to economically hedge specific investment securities and receive fee income, effectively enhancing the overall yield on such securities to compensate for net interest margin compression; and (5) options and swaps to economically hedge a portion of the fair value adjustments related to the Company’s mortgage servicing rights portfolio. The Company also enters into derivatives (typically interest rate swaps and commodity forward contracts) with certain qualified borrowers to facilitate the borrowers’ risk
30

Table of Contents

management strategies and concurrently enters into mirror-image derivatives with a third party counterparty, effectively making a market in the derivatives for such borrowers. Additionally, the Company enters into foreign currency contracts to manage foreign exchange risk associated with certain foreign currency denominated assets.

The Company recognizes derivative financial instruments in the consolidated financial statements at fair value regardless of the purpose or intent for holding the instrument. The Company records derivative assets and derivative liabilities on the Consolidated Statements of Condition within accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively. Changes in the fair value of derivative financial instruments are either recognized in income or in shareholders’ equity as a component of accumulated other comprehensive income or loss depending on whether the derivative financial instrument qualifies for hedge accounting and, if so, whether it qualifies as a fair value hedge or cash flow hedge.

Changes in fair values of derivatives accounted for as fair value hedges are recorded in income in the same period and in the same income statement line as changes in the fair values of the hedged items that relate to the hedged risk(s). Changes in fair values of derivative financial instruments accounted for as cash flow hedges are recorded as a component of accumulated other comprehensive income or loss, net of deferred taxes, and reclassified to earnings when the hedged transaction affects earnings. Changes in fair values of derivative financial instruments not designated in a hedging relationship pursuant to ASC 815 are reported in non-interest income during the period of the change. Derivative financial instruments are valued by a third party and are corroborated by comparison with valuations provided by the respective counterparties. Fair values of certain mortgage banking derivatives (interest rate lock commitments and forward commitments to sell mortgage loans) are estimated based on changes in mortgage interest rates from the date of the loan commitment. The fair value of foreign currency derivatives is computed based on changes in foreign currency rates stated in the contract compared to those prevailing at the measurement date. Commodity derivative fair values are computed based on changes in the price per unit stated in the contract compared to those prevailing at the measurement date.

The table below presents the fair value of the Company’s derivative financial instruments as of June 30, 2025, December 31, 2024 and June 30, 2024:

Derivative Assets Derivative Liabilities
(In thousands) June 30,
2025 December 31,
2024 June 30,
2024 June 30,
2025 December 31,
2024 June 30,
2024
Derivatives designated as hedging instruments under ASC 815:
Interest rate derivatives designated as Cash Flow Hedges $ 57,245   $ 7,329   $ 7,532   $ 11,314   $ 56,084   $ 96,825  
Interest rate derivatives designated as Fair Value Hedges 6,207   10,001   12,678   549   87   —  
Total derivatives designated as hedging instruments under ASC 815 $ 63,452   $ 17,330   $ 20,210   $ 11,863   $ 56,171   $ 96,825  
Derivatives not designated as hedging instruments under ASC 815:
Interest rate derivatives $ 144,350   $ 177,553   $ 215,275   $ 141,880   $ 183,799   $ 217,157  
Interest rate lock commitments 5,548   1,950   4,795   —   18   67  
Forward commitments to sell mortgage loans 4,028   1,297   102   4,048   88   597  
Commodity forward contracts 119   766   702   42   583   304  
Foreign exchange contracts 3,609   1,131   2,776   3,569   1,091   2,709  
Total derivatives not designated as hedging instruments under ASC 815 $ 157,654   $ 182,697   $ 223,650   $ 149,539   $ 185,579   $ 220,834  
Total Derivatives $ 221,106   $ 200,027   $ 243,860   $ 161,402   $ 241,750   $ 317,659  

Cash Flow Hedges of Interest Rate Risk

The Company’s objectives in using interest rate derivatives are to add stability to net interest income and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and interest rate collars as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts to or from a counterparty in exchange for the Company receiving or paying fixed-rate payments over the life of the agreements without the exchange of the underlying notional amount. Interest rate collars designated as cash flow hedges involve the settlement of amounts in which the interest rate specified in the contract exceeds the agreed upon cap strike rate or in which the interest rate specified in the contract is below the agreed upon floor strike rate at the end of each period.

31

Table of Contents

As of June 30, 2025, the Company had various interest rate collar and swap derivatives designated as cash flow hedges of variable rate loans. When the relationship between the hedged item and hedging instrument is highly effective at achieving offsetting changes in cash flows attributable to the hedged risk, changes in the fair value of these cash flow hedges are recorded in accumulated other comprehensive income or loss and are subsequently reclassified to interest income as interest payments are made on such variable rate loans. The changes in fair value (net of tax) are separately disclosed in the Consolidated Statements of Comprehensive Income.

The table below provides details on these cash flow hedges, summarized by derivative type and maturity, as of June 30, 2025:

June 30, 2025
Notional Fair Value
(In thousands) Amount Asset (Liability)
Interest Rate Collars at 1-month CME term SOFR:
Buy 2.250 % floor, sell 3.743 % cap; matures September 2025
$ 1,250,000   $ ( 1,226 )
Buy 2.750 % floor, sell 4.320 % cap; matures October 2026
500,000   449  
Buy 2.000 % floor, sell 3.450 % cap; matures September 2027
1,250,000   ( 7,726 )
Interest Rate Swaps at 1-month CME term SOFR:
Fixed 3.748 %; matures December 2025
250,000   ( 471 )
Fixed 3.759 %; matures December 2025
250,000   ( 457 )
Fixed 3.680 %; matures February 2026
250,000   ( 567 )
Fixed 4.176 %; matures March 2026
250,000   268  
Fixed 3.915 %; matures March 2026
250,000   ( 165 )
Fixed 4.450 %; matures July 2026
250,000   1,580  
Fixed 3.515 %, matures December 2026
250,000   ( 184 )
Fixed 3.512 %; matures December 2026
250,000   ( 196 )
Fixed 3.453 %; matures February 2027
250,000   ( 323 )
Fixed 4.150 %; matures July 2027
250,000   3,452  
Fixed 3.748 %; matures March 2028
250,000   2,419  
Fixed 3.526 %; matures March 2028
250,000   989  
Fixed 3.993 %; matures October 2029
350,000   9,003  
Fixed 4.245 %; matures November 2029
350,000   12,747  
Fixed 3.300 %; matures November 2029 (1)
250,000   254  
Fixed 3.816 %; matures November 2030 (1)
250,000   7,683  
Fixed 3.551 %; matures November 2030 (1)
250,000   514  
Fixed 3.950 %; matures February 2031 (2)
250,000   7,235  
Fixed 4.250 %; matures February 2031 (2)
250,000   10,653  
Total Cash Flow Hedges $ 7,950,000   $ 45,931  

(1) Represents interest rate swaps that have effective starting dates of November 1, 2025.
(2) Represents interest rate swaps that have effective starting dates of February 1, 2026.

In the first quarter of 2022, the Company terminated interest rate swap derivative contracts designated as cash flow hedges of variable rate deposits with a total notional value of $ 1.0  billion and a five-year term effective July 2022. At the time of termination, the fair value of the derivative contracts totaled an asset of $ 66.5  million, with such adjustments to fair value recorded in accumulated other comprehensive income or loss. In the second quarter of 2022, the Company terminated one additional interest rate swap derivative contract designated as a cash flow hedge of variable rate deposits with a total notional value of $ 500.0  million effective since April 2020. The remaining term of such derivative contract was through April 2024 and, at the time of termination, the fair value of the derivative contract totaled assets of $ 10.7  million, with such adjustments to fair value recorded in accumulated other comprehensive income or loss.

For all such terminations, as the hedged forecasted transactions (interest payments on variable rate deposits) are still expected to occur over the remaining term of such terminated derivatives, such adjustments will remain in accumulated other comprehensive income or loss and be reclassified as a reduction to interest expense on a straight-line basis over the original term of the terminated derivative contracts.

32

Table of Contents

A rollforward of the amounts in accumulated other comprehensive income or loss related to interest rate derivatives designated as cash flow hedges, including such derivative contracts terminated during the period, follows:

Three Months Ended Six Months Ended
(In thousands) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Unrealized gain (loss) at beginning of period $ 42,565   $ ( 38,553 ) $ ( 15,508 ) $ 43,538  
Amount reclassified from accumulated other comprehensive income or loss to interest income or expense on deposits, loans, and other borrowings 4,890   20,524   10,636   40,342  
Amount of gain (loss) recognized in other comprehensive income or loss 25,074   ( 31,367 ) 77,401   ( 133,276 )
Unrealized gain (loss) at end of period $ 72,529   $ ( 49,396 ) $ 72,529   $ ( 49,396 )

As of June 30, 2025, the Company estimated that during the next 12 months $ 2.2 million will be reclassified from accumulated other comprehensive income or loss as a decrease to net interest income. Such estimate consists of $ 13.3 million reclassified as a reduction to interest expense on the terminated cash flow hedges discussed above and $ 15.5 million reclassified as a reduction to interest income related to the interest rate collars and swaps noted above that remain outstanding.

Fair Value Hedges of Interest Rate Risk

Interest rate swaps designated as fair value hedges involve the payment of fixed amounts to a counterparty in exchange for the Company receiving variable payments over the life of the agreements without the exchange of the underlying notional amount. As of June 30, 2025, the Company had 13 interest rate swaps with an aggregate notional amount of $ 143.1 million that were designated as fair value hedges primarily associated with fixed rate commercial and industrial and commercial real estate loans as well as life insurance premium finance receivables.

For derivatives designated and that qualify as fair value hedges, the net gain or loss from the entire change in the fair value of the derivative instrument is recognized in the same income statement line item as the earnings effect, including the net gain or loss, of the hedged item (interest income earned on fixed rate loans) when the hedged item affects earnings.

The following table presents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value hedge accounting relationship as of June 30, 2025:

(In thousands) June 30, 2025

Derivatives in Fair Value
Hedging Relationships
Location in the Statement of Condition Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Remaining for any Hedged Assets/(Liabilities) for which Hedge Accounting has been Discontinued
Interest rate swaps Loans, net of unearned income $ 136,963   $ ( 5,624 ) $ ( 44 )
Available-for-sale debt securities 532   ( 4 ) —  

The following table presents the loss or gain recognized related to derivative instruments that are designated as fair value hedges for the respective period:

(In thousands)

Derivatives in Fair Value Hedging Relationships
Location of (Loss)/Gain Recognized
in Income on Derivative Three Months Ended Six Months Ended
June 30, 2025 June 30, 2025
Interest rate swaps Interest and fees on loans $ ( 3 ) $ ( 6 )

Non-Designated Hedges

The Company does not use derivatives for speculative purposes. Derivatives not designated as accounting hedges are used to manage the Company’s economic exposure to interest rate movements and other identified risks but do not meet the strict
33

Table of Contents

hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings.

Interest Rate Derivatives —Periodically, the Company may purchase interest rate cap derivatives designed to act as an economic hedge of the risk of the negative impact on its fixed-rate loan portfolios from rising interest rates. As of June 30, 2025, there were no interest rate caps outstanding that were designed to act as an economic hedge.

Additionally, the Company has interest rate derivatives, including swaps and option products, resulting from a service the Company provides to certain qualified borrowers. The Company’s banking subsidiaries execute certain derivative products (typically interest rate swaps) directly with qualified commercial borrowers to facilitate their respective risk management strategies. For example, these arrangements allow the Company’s commercial borrowers to effectively convert a variable rate loan to a fixed rate. In order to minimize the Company’s exposure on these transactions, the Company simultaneously executes offsetting derivatives with third parties. In most cases, the offsetting derivatives have mirror-image terms, which result in the positions’ changes in fair value substantially offsetting through earnings each period. However, to the extent that the derivatives are not a mirror-image and because of differences in counterparty credit risk, changes in fair value will not completely offset resulting in some earnings impact each period. Changes in the fair value of these derivatives are included in other non-interest income. At June 30, 2025 and December 31, 2024, the Company had interest rate derivative transactions with an aggregate notional amount of approximately $ 13.7 billion and $ 13.3 billion, respectively, (all interest rate swaps and caps with customers and third parties) related to this program. At June 30, 2025 these interest rate derivatives had maturity dates ranging from July 2025 to January 2037.

Mortgage Banking Derivatives— These derivatives include interest rate lock commitments provided to customers to fund certain mortgage loans to be sold into the secondary market and forward commitments for the future delivery of such loans. It is the Company’s practice to enter into forward commitments for the future delivery of a portion of its residential mortgage loan production when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company’s mortgage banking derivatives have not been designated as being in hedge relationships. At June 30, 2025 and December 31, 2024, the Company had interest rate lock commitments with an aggregate notional amount of approximately $ 201.0 million and $ 120.7 million, and forward commitments to sell mortgage loans with an aggregate notional amount of approximately $ 467.9 million and $ 377.5 million, respectively. The fair values of these derivatives were estimated based on changes in mortgage rates from the dates of the commitments. Changes in the fair value of these mortgage banking derivatives are included in mortgage banking revenue.

Commodity Derivatives— The Company has commodity forward contracts resulting from a service the Company provides to certain qualified borrowers. The Company’s banking subsidiaries execute certain derivative products directly with qualified commercial borrowers to facilitate their respective risk management strategies. For example, these arrangements allow the Company’s commercial borrowers to effectively purchase or sell a given commodity at an agreed-upon price on an agreed-upon settlement date. In order to minimize the Company’s exposure on these transactions, the Company simultaneously executes offsetting derivatives with third parties. In most cases, the offsetting derivatives have mirror-image terms, which result in the positions’ changes in fair value substantially offsetting through earnings each period. However, to the extent that the derivatives are not a mirror-image and because of differences in counterparty credit risk, changes in fair value will not completely offset resulting in some earnings impact each period. Changes in the fair value of these derivatives are included in other non-interest income. At June 30, 2025 and December 31, 2024, the Company had commodity derivative transactions with an aggregate notional amount of approximately $ 2.1 million and $ 5.2 million, respectively, (all forward contracts with customers and third parties) related to this program. At June 30, 2025, these commodity derivatives had maturity dates ranging from July 2025 to October 2027.

Foreign Currency Derivatives— The Company has foreign currency derivative contracts resulting from a service the Company provides to certain qualified customers. The Company’s banking subsidiaries execute certain derivative products directly with qualified customers to facilitate their respective risk management strategies related to foreign currency fluctuations. For example, these arrangements allow the Company’s customers to effectively exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. In order to minimize the Company’s exposure on these transactions, the Company simultaneously executes offsetting derivatives with third parties. In most cases, the offsetting derivatives have mirror-image terms, which result in the positions’ changes in fair value substantially offsetting through earnings each period. However, to the extent that the derivatives are not a mirror-image and because of differences in counterparty credit risk, changes in fair value will not completely offset resulting in some earnings impact each period. Changes in the fair value of these derivatives are included in other non-interest income. As of June 30, 2025 and December 31, 2024, the Company held foreign currency derivatives with an aggregate notional amount of approximately $ 117.5 million and $ 97.1 million, respectively.
34

Table of Contents

Other Derivatives— Periodically, the Company will sell options to a bank or dealer for the right to purchase certain securities held within the banks’ investment portfolios (covered call options). These option transactions are designed to increase the total return associated with the investment securities portfolio. These options do not qualify as accounting hedges pursuant to ASC 815 and, accordingly, changes in the fair value of these contracts are recognized as other non-interest income. There were no covered call options outstanding as of June 30, 2025, December 31, 2024 or June 30, 2024.

Periodically, the Company will purchase options for the right to purchase securities not currently held within the banks’ investment portfolios or enter into interest rate swaps in which the Company elects to not designate such derivatives as hedging instruments. These option and swap transactions are designed primarily to economically hedge a portion of the fair value adjustments related to the Company’s mortgage servicing rights portfolio. The gain or loss associated with these derivative contracts are included in mortgage banking revenue. The Company held eight interest rate derivatives with an aggregate notional value of $ 330.0 million at June 30, 2025 and ten interest rate derivatives with an aggregate notional value of and $ 295.0 million at December 31, 2024, for such purpose of economically hedging a portion of the fair value adjustment related to its mortgage servicing rights portfolio.

Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows:

(In thousands) Three Months Ended Six Months Ended
Derivative Location in income statement June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Interest rate swaps and caps Trading gains, net $ 85   $ ( 102 ) $ ( 32 ) $ 493  
Mortgage banking derivatives Mortgage banking revenue ( 324 ) 3,721   3,317   3,706  
Commodity contracts Trading gains, net ( 37 ) 130   77   398  
Foreign exchange contracts Trading gains, net 65   11   73   19  
Covered call options Fees from covered call options 5,624   2,056   9,070   6,903  
Derivative contract held as economic hedge on MSRs Mortgage banking revenue 2,535   ( 772 ) 7,432   ( 3,349 )

Credit Risk

Derivative instruments have inherent risks, primarily market risk and credit risk. Market risk is associated with changes in the value of an underlying asset. Credit risk relates to the risk that the counterparty will fail to perform according to the terms of the agreement. The Company is exposed to the credit risk of its commercial borrowers and third party financial institutions who are counterparties to interest rate derivatives with the Company.

The counterparty credit risk associated with the mirror-image swaps executed with third party financial institutions is monitored and managed as part of the Company’s overall asset-liability management process, except that the counterparty credit risk related to derivatives entered into with certain qualified borrowers is managed through the Company’s standard loan underwriting process for commercial borrowers since these derivatives typically share in the collateral provided by the loan agreements.

When deemed necessary, appropriate types and amounts of collateral are obtained to minimize credit exposure. The Company hedges the market risk of derivatives transactions with commercial borrowers by entering into offsetting transactions with large, highly rated financial institutions. These exposures are generally secured by cash under bilateral Credit Support Annexes, which are a component of the ISDA Master Agreements executed with counterparties.

Aggregate counterparty exposures are monitored against various types of credit limits established to contain risk within parameters. Counterparty credit risk is managed by the Counterparty Credit Risk Management team in accordance with SR 11-10, Interagency Counterparty Credit Risk Management Guidance , which was issued in 2011 in response to the financial crisis of 2008. The guidance addresses counterparty credit risk governance, measurement, management, and systems. Specifically, counterparty risk is managed through the establishment and regular review of exposure limits, formalization of limits in policy and procedure, ongoing review of models, and having a single platform to allow for the timely aggregation of exposures. The Counterparty Credit Risk Management team uses a variety of approaches to monitor counterparty financial performance, including monitoring of credit exposure versus limits, use of early warning reports, and daily and intraday monitoring of financial developments.

35

Table of Contents

The Company has agreements with certain of its interest rate derivative counterparties that contain cross-default provisions, which provide that if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that contain a provision allowing the counterparty to terminate the derivative positions if the Company fails to maintain its status as a well or adequately capitalized institution, which would require the Company to settle its obligations under the agreements. If the Company were to breach any of these provisions, at a time when the derivatives subject to such agreements are in a liability position, and the derivatives were to be terminated as a result, the Company would be required to settle its obligations under the agreements at the termination value and would be required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty. As of June 30, 2025, there were $ 45,000 of derivatives that were subject to such agreements in a net liability position.

The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative assets and liabilities on the Consolidated Statements of Condition. The table below summarizes the Company’s interest rate derivatives and offsetting positions as of the dates shown.

Derivative Assets Derivative Liabilities
Fair Value Fair Value
(In thousands) June 30,
2025 December 31,
2024 June 30,
2024 June 30,
2025 December 31,
2024 June 30,
2024
Gross Amounts Recognized $ 207,802   $ 194,883   $ 235,485   $ 153,743   $ 239,970   $ 313,982  

Gross amounts not offset in the Statements of Condition
Offsetting Derivative Positions ( 68,680 ) ( 74,656 ) ( 114,662 ) ( 68,680 ) ( 74,656 ) ( 114,662 )
Collateral Posted ( 67,753 ) ( 78,550 ) ( 85,762 ) —   —   —  
Net Credit Exposure $ 71,369   $ 41,677   $ 35,061   $ 85,063   $ 165,314   $ 199,320  

(15) Fair Value of Assets and Liabilities

The Company measures, monitors and discloses certain of its assets and liabilities on a fair value basis. These financial assets and financial liabilities are measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability of the inputs used to determine fair value. These levels are:

• Level 1—unadjusted quoted prices in active markets for identical assets or liabilities.

• Level 2 — inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

• Level 3—significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

A financial instrument’s categorization within the above valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the assets or liabilities. The following is a description of the valuation methodologies used for the Company’s assets and liabilities measured at fair value on a recurring basis.

Available-for-sale debt securities, trading account securities and equity securities with readily determinable fair value —Fair values for available-for-sale debt securities, trading account securities and equity securities with readily determinable fair value are typically based on prices obtained from independent pricing vendors. Securities measured with these valuation techniques are generally classified as Level 2 of the fair value hierarchy. Typically, standard inputs such as benchmark yields, reported trades for similar securities, issuer spreads, benchmark securities, bids, offers and reference data including market research publications are used to determine the fair value of these securities. When these inputs are not available, broker/dealer quotes may be obtained by the vendor to determine the fair value of the security. We review the vendor’s pricing methodologies to determine if observable market information is being used, versus unobservable inputs. Fair value measurements using
36

Table of Contents

significant inputs that are unobservable in the market due to limited activity or a less liquid market are classified as Level 3 in the fair value hierarchy. The fair value of U.S. Treasury securities and certain equity securities with readily determinable fair value are based on unadjusted quoted prices in active markets for identical securities. As such, these securities are classified as Level 1 in the fair value hierarchy.

The Company’s Investment Operations Department is responsible for the valuation of Level 3 available-for-sale debt securities. The methodology and variables used as inputs in pricing Level 3 securities are derived from a combination of observable and unobservable inputs. The unobservable inputs are determined through internal assumptions that may vary from period to period due to external factors, such as market movement and credit rating adjustments.

At June 30, 2025, the Company classified $ 116.1 million of municipal securities as Level 3. These municipal securities are bond issues for various municipal government entities primarily located in the Chicago metropolitan area, southern Wisconsin and west Michigan and are privately placed, non-rated bonds without CUSIP numbers. The Company’s methodology for pricing these securities focuses on three distinct inputs: equivalent rating, yield and other pricing terms. To determine the rating for a given non-rated investment debt security, the Investment Operations Department references a rated, publicly issued bond by the same issuer if available. A reduction is then applied to the rating obtained from the comparable bond, as the Company believes if liquidated, a non-rated bond would be valued less than a similar bond with a verifiable rating. The reduction applied by the Company is one complete rating grade (i.e. a “AA” rating for a comparable bond would be reduced to “A” for the Company’s valuation). For bond issues without comparable bond proxies, a rating of “BBB” was assigned. In the second quarter of 2025, all of the ratings derived by the Investment Operations Department using the above process were “BBB” or better. The fair value measurement noted above is sensitive to the rating input, as a higher rating typically results in an increased valuation. The remaining pricing inputs used in the bond valuation are observable. Based on the rating determined in the above process, Investment Operations obtains a corresponding current market yield curve available to market participants. Other terms including coupon, maturity date, redemption price, number of coupon payments per year, and accrual method are obtained from the individual bond term sheets. Certain municipal bonds held by the Company at June 30, 2025 are continuously callable. When valuing these bonds, the fair value is capped at par value as the Company assumes a market participant would not pay more than par for a continuously callable bond.

Mortgage loans held-for-sale —The fair value of mortgage loans held-for-sale is typically determined by reference to investor price sheets for loan products with similar characteristics. Loans measured with this valuation technique are classified as Level 2 in the fair value hierarchy.

At June 30, 2025, the Company classified $ 27.2 million of certain delinquent mortgage loans held-for-sale as Level 3. For such delinquent loans in which investor interest may be limited, the Company estimates fair value by discounting future scheduled cash flows for the specific loan through its life, adjusted for estimated credit losses. The Company uses a discount rate based on prevailing market coupon rates on loans with similar characteristics. The assumed weighted average discount rate used as an input to value these loans at June 30, 2025 was 5.44 %. The higher the rate utilized to discount estimated future cash flows, the lower the fair value measurement. Additionally, the weighted average credit discount used as an input to value the specific loans was 0.80 % with credit loss discount ranging from 0 %- 24 % at June 30, 2025.

Loans held-for-investment —The fair value of loans held-for-investment is typically determined by reference to investor price sheets for loan products with similar characteristics. Loans measured with this valuation technique are classified as Level 2 in the fair value hierarchy.

The fair value for certain loans in which the Company previously elected the fair value option is estimated by discounting future scheduled cash flows for the specific loan through maturity, adjusted for estimated credit losses and prepayment or life assumptions. These loans primarily consist of early buyout loans guaranteed by U.S. government agencies that are delinquent and, as a result, investor interest may be limited. The Company uses a discount rate based on the actual coupon rate of the underlying loan. At June 30, 2025, the Company classified $ 53.0 million of loans held-for-investment carried at fair value as Level 3. The assumed weighted average discount rate used as an input to value these loans at June 30, 2025 was 5.49 %. The higher the rate utilized to discount estimated future cash flows, the lower the fair value measurement. As noted above, the fair value estimate also includes assumptions of prepayment speeds and average life as well as credit losses. The weighted average prepayments speed used as an input to value current loans was 9.34 % at June 30, 2025. Prepayment speeds are inversely related to the fair value of these loans as an increase in prepayment speeds results in a decreased valuation. For delinquent loans in which performance is not assumed and there is a higher probability of resolution of the loan ending in foreclosure, the weighted average life of such loans was 5.7 years. Average life is inversely related to the fair value of these loans as an increase in estimated life results in a decreased valuation. Additionally, the weighted average credit discount used as an input to value the specific loans was 1.26 % with credit loss discounts ranging from 0 %- 18 % at June 30, 2025.

37

Table of Contents

MSRs —Fair value for MSRs is determined utilizing a valuation model which calculates the fair value of each servicing right based on the present value of estimated future cash flows. The Company uses a discount rate commensurate with the risk associated with each servicing right, given current market conditions. At June 30, 2025, the Company classified $ 193.1 million of MSRs as Level 3. The weighted average discount rate used as an input to value the pool of MSRs at June 30, 2025 was 10.43 % with discount rates applied ranging from 5 %- 27 %. The higher the rate utilized to discount estimated future cash flows, the lower the fair value measurement. The fair value of MSRs was also estimated based on other assumptions including prepayment speeds and the cost to service. Prepayment speeds ranged from 0 %- 91 % or a weighted average prepayment speed of 9.34 %. Further, for current and delinquent loans, the Company assumed a weighted average cost of servicing of $ 76 and $ 390 , respectively, per loan. Prepayment speeds and the cost to service are both inversely related to the fair value of MSRs as an increase in prepayment speeds or the cost to service results in a decreased valuation. See Note (9) “Mortgage Servicing Rights (“MSRs”)” in Item 1 of this report for further discussion of MSRs.

Derivative instruments —The Company’s derivative instruments include interest rate swaps, caps and collars, commitments to fund mortgages for sale into the secondary market (interest rate locks), forward commitments to end investors for the sale of mortgage loans, commodity future contracts and foreign currency contracts. Interest rate swaps, caps and collars and commodity future contracts are valued by a third party, using models that primarily use market observable inputs, such as yield curves and commodity prices prevailing at the measurement date, and are classified as Level 2 in the fair value hierarchy. The credit risk associated with derivative financial instruments that are subject to master netting agreements is measured on a net basis by counterparty portfolio. The fair value for mortgage-related derivatives is based on changes in mortgage rates from the date of the commitments. The fair value of foreign currency derivatives is computed based on change in foreign currency rates stated in the contract compared to those prevailing at the measurement date.

At June 30, 2025, the Company classified $ 5.5 million of derivative assets related to interest rate locks as Level 3. The fair value of interest rate locks is based on prices obtained for loans with similar characteristics from third parties, adjusted for the pull-through rate, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund. The weighted-average pull-through rate at June 30, 2025 was 80.62 % with pull-through rates applied ranging from 3 % to 100 %. Pull-through rates are directly related to the fair value of interest rate locks as an increase in the pull-through rate results in an increased valuation.

Nonqualified deferred compensation assets —The underlying assets relating to the nonqualified deferred compensation plan are included in a trust and primarily consist of non-exchange traded institutional funds which are priced based by an independent third party service. These assets are classified as Level 2 in the fair value hierarchy.

38

Table of Contents

The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented:

June 30, 2025
(In thousands) Total Level 1 Level 2 Level 3
Available-for-sale securities
U.S. Treasury $ 13,018   $ 13,018   $ —   $ —  
U.S. government agencies 45,824   —   45,824   —  
Municipal 180,644   —   64,569   116,075  
Corporate notes 79,799   —   79,799   —  
Mortgage-backed 4,566,430   —   4,566,430   —  
Trading account securities —   —   —   —  
Equity securities with readily determinable fair value 273,722   265,656   8,066   —  
Mortgage loans held-for-sale 299,606   —   272,438   27,168  
Loans held-for-investment 136,884   —   83,847   53,037  
MSRs 193,061   —   —   193,061  
Nonqualified deferred compensation assets 17,283   —   17,283   —  
Derivative assets 221,106   —   215,558   5,548  
Total $ 6,027,377   $ 278,674   $ 5,353,814   $ 394,889  
Derivative liabilities $ 161,402   $ —   $ 161,402   $ —  

December 31, 2024
(In thousands) Total Level 1 Level 2 Level 3
Available-for-sale securities
U.S. Treasury $ 37,907   $ 37,907   $ —   $ —  
U.S. government agencies 44,945   —   44,945   —  
Municipal 184,593   —   62,986   121,607  
Corporate notes 81,162   —   81,162   —  
Mortgage-backed 3,792,875   —   3,792,875   —  
Trading account securities 4,072   —   4,072   —  
Equity securities with readily determinable fair value 215,412   207,346   8,066   —  
Mortgage loans held-for-sale 331,261   —   270,862   60,399  
Loans held-for-investment 158,795   —   123,899   34,896  
MSRs 203,788   —   —   203,788  
Nonqualified deferred compensation assets 16,653   —   16,653   —  
Derivative assets 200,027   —   198,077   1,950  
Total $ 5,271,490   $ 245,253   $ 4,603,597   $ 422,640  
Derivative liabilities $ 241,750   $ —   $ 241,750   $ —  

June 30, 2024
(In thousands) Total Level 1 Level 2 Level 3
Available-for-sale securities
U.S. Treasury $ 102,712   $ 102,712   $ —   $ —  
U.S. government agencies 45,192   —   45,192   —  
Municipal 146,608   —   50,816   95,792  
Corporate notes 77,975   —   77,975   —  
Mortgage-backed 3,957,470   —   3,957,470   —  
Trading account securities 4,134   —   4,134   —  
Equity securities with readily determinable fair value 112,173   104,107   8,066   —  
Mortgage loans held-for-sale 411,851   —   371,306   40,545  
Loans held-for-investment 135,834   —   90,113   45,721  
MSRs 204,610   —   —   204,610  
Nonqualified deferred compensation assets 16,041   —   16,041   —  
Derivative assets 243,860   —   239,065   4,795  
Total $ 5,458,460   $ 206,819   $ 4,860,178   $ 391,463  
Derivative liabilities $ 317,659   $ —   $ 317,659   $ —  

39

Table of Contents

The aggregate remaining contractual principal balance outstanding as of June 30, 2025, December 31, 2024 and June 30, 2024 for mortgage loans held-for-sale measured at fair value under ASC 825 was $ 313.4 million, $ 335.9 million and $ 414.1 million, respectively, while the aggregate fair value of mortgage loans held-for-sale was $ 299.6 million, $ 331.3 million and $ 411.9 million, for the same respective periods, as shown in the above tables. At June 30, 2025, $ 200,000 of mortgage loans held-for-sale were classified as nonaccrual compared to $ 4.0 million as of December 31, 2024 and $ 2.1 million as of June 30, 2024. Additionally, there were $ 27.5 million of loans past due greater than 90 days and still accruing in the mortgage loans held-for-sale portfolio as of June 30, 2025 compared to $ 59.3 million as of December 31, 2024 and $ 39.4 million as of June 30, 2024. All of the nonaccrual loans and loans past due greater than 90 days and still accruing within the mortgage loans held-for-sale portfolio at June 30, 2025, December 31, 2024, and June 30, 2024 were individual delinquent mortgage loans bought back from GNMA at the unconditional option of the Company as servicer for those loans.

The aggregate remaining contractual principal balance outstanding as of June 30, 2025, December 31, 2024 and June 30, 2024 for loans held-for-investment measured at fair value under ASC 825 was $ 136.1 million, $ 157.8 million and $ 136.1 million, respectively, while the aggregate fair value of loans held-for-investment was $ 136.9 million, $ 158.8 million and $ 135.8 million, respectively, as shown in the above tables.

The changes in Level 3 assets measured at fair value on a recurring basis during the three and six months ended June 30, 2025 and 2024 are summarized as follows:

Mortgage loans held-for-sale Loans held-for- investment Mortgage
servicing rights Derivative assets
(In thousands) Municipal
Balance at April 1, 2025 $ 121,844   $ 56,324   $ 34,002   $ 196,307   $ 5,493  
Total net (losses) gains included in:
Net income (1)
—   479   565   ( 3,246 ) 55  
Other comprehensive income or loss ( 2,353 ) —   —   —   —  
Purchases —   —   —   —   —  

Settlements ( 3,416 ) ( 44,819 ) ( 7,778 ) —   —  
Net transfers into Level 3
—   15,184   26,248   —   —  
Balance at June 30, 2025 $ 116,075   $ 27,168   $ 53,037   $ 193,061   $ 5,548  

Mortgage loans held-for-sale Loans held-for- investment Mortgage
servicing rights Derivative assets
(In thousands) Municipal
Balance at April 1, 2024 $ 88,219   $ 33,726   $ 49,317   $ 201,044   $ 6,212  
Total net (losses) gains included in:
Net income (1)
—   205   66   3,566   ( 1,417 )
Other comprehensive income or loss ( 680 ) —   —   —   —  
Purchases 9,682   —   —   —   —  

Settlements ( 1,429 ) ( 10,269 ) ( 7,709 ) —   —  
Net transfers into Level 3 —   16,883   4,047   —   —  
Balance at June 30, 2024 $ 95,792   $ 40,545   $ 45,721   $ 204,610   $ 4,795  

(1) Changes in the balance of mortgage loans held-for-sale, MSRs, and derivative assets related to fair value adjustments are recorded as components of mortgage banking revenue. Changes in the balance of loans held-for-investment related to fair value adjustments are recorded as other non-interest income.

40

Table of Contents

Mortgage loans held-for-sale Loans held-for- investment Mortgage
servicing rights Derivative Assets
(In thousands) Municipal
Balance at January 1, 2025
$ 121,607   $ 60,399   $ 34,896   $ 203,788   $ 1,950  
Total net (losses) gains included in:
Net income (1)
—   1,452   836   ( 10,727 ) 3,598  
Other comprehensive income or loss ( 7,431 ) —   —   —   —  
Purchases 15,282   —   —   —   —  
Issuances —   —   —   —   —  
Sales —   —   —   —   —  
Settlements ( 13,383 ) ( 69,420 ) ( 12,725 ) —   —  
Net transfers into Level 3
—   34,737   30,030   —   —  
Balance at June 30, 2025 $ 116,075   $ 27,168   $ 53,037   $ 193,061   $ 5,548  

Mortgage loans held-for-sale Loans held-for- investment Mortgage
servicing rights Derivative Assets
(In thousands) Municipal
Balance at January 1, 2024
$ 86,237   $ 26,835   $ 60,670   $ 192,456   $ 4,510  
Total net (losses) gains included in:
Net income (1)
—   272   ( 251 ) 12,154   285  
Other comprehensive income or loss ( 2,668 ) —   —   —   —  
Purchases 18,066   —   —   —   —  

Sales —   —   —   —   —  
Settlements ( 5,843 ) ( 20,609 ) ( 23,512 ) —   —  
Net transfers into Level 3 —   34,047   8,814   —   —  
Balance at June 30, 2024 $ 95,792   $ 40,545   $ 45,721   $ 204,610   $ 4,795  

(1) Changes in the balance of mortgage loans held-for-sale, MSRs and derivative assets related to fair value adjustments are recorded as components of mortgage banking revenue. Changes in the balance of loans held-for-investment related to fair value adjustments are recorded as other non-interest income.

Also, the Company may be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from impairment charges on individual assets. For assets measured at fair value on a non-recurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at June 30, 2025:

June 30, 2025 Three Months Ended June 30, 2025
Fair Value Losses Recognized, net
Six Months Ended June 30, 2025
Fair Value Losses Recognized, net

(In thousands) Total Level 1 Level 2 Level 3
Individually assessed loans - foreclosure probable and collateral-dependent $ 143,486   $ —   $ —   $ 143,486   $ 11,075   $ 21,155  
Other real estate owned (1)
23,615   —   —   23,615   325   816  
Total $ 167,101   $ —   $ —   $ 167,101   $ 11,400   $ 21,971  

(1) Net fair value losses recognized on other real estate owned include valuation adjustments and charge-offs during the respective period.

Individually assessed loans —In accordance with ASC 326, the allowance for credit losses for loans and other financial assets held at amortized cost should be measured on a collective or pooled basis when such assets exhibit similar risk characteristics. In instances in which a financial asset does not exhibit similar risk characteristics to a pool, the Company is required to measure such allowance for credit losses on an individual asset basis. For the Company’s loan portfolio, nonaccrual loans are considered to not exhibit similar risk characteristics as pools and thus are individually assessed. Credit losses are measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the fair value of the underlying collateral. Individually assessed loans are considered a fair value measurement where an allowance for credit loss is established based on the fair value of collateral. Appraised values on relevant real estate properties, which may require adjustments to market-based valuation inputs, are generally used on foreclosure probable and collateral-dependent loans within the real estate portfolios.
41

Table of Contents

The Company’s Managed Assets Division is primarily responsible for the valuation of Level 3 inputs of individually assessed loans. For more information on individually assessed loans refer to Note (7) “Allowance for Credit Losses” in Item 1 of this report. At June 30, 2025, the Company had $ 143.5 million of individually assessed loans classified as Level 3. All of the $ 143.5  million of individually assessed loans were measured at fair value based on the underlying collateral of the loan as shown in the table above.

Other real estate owned —Other real estate owned is comprised of real estate acquired in partial or full satisfaction of loans and is included in other assets. Other real estate owned is recorded at its estimated fair value less estimated selling costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the allowance for loan losses. Subsequent changes in value are reported as adjustments to the carrying amount and are recorded in other non-interest expense. Gains and losses upon sale, if any, are also charged to other non-interest expense. Fair value is generally based on third party appraisals and internal estimates that are adjusted by a discount representing the estimated cost of sale and is therefore considered a Level 3 valuation.

The Company’s Managed Assets Division is primarily responsible for the valuation of Level 3 inputs for other real estate owned. At June 30, 2025, the Company had $ 23.6 million of other real estate owned classified as Level 3. The unobservable input applied to other real estate owned relates to the 10 % reduction to the appraisal value representing the estimated cost of sale of the foreclosed property. A higher discount for the estimated cost of sale results in a decreased carrying value.

The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at June 30, 2025 were as follows:

(Dollars in thousands) Fair Value Valuation Methodology Significant Unobservable Input Input / Range of Inputs Weighted
Average
of Inputs Impact to valuation
from an increased or
higher input value
Measured at fair value on a recurring basis:
Municipal securities $ 116,075   Bond pricing Equivalent rating BBB-AA+ N/A Increase
Mortgage loans held-for-sale 27,168   Discounted cash flows Discount rate 5.44 %
5.44 % Decrease
Credit discount 0 % - 24 %
0.80 % Decrease
Loans held-for-investment 53,037   Discounted cash flows Discount rate 5.44 % - 6.38 %
5.49 % Decrease
Credit discount 0 % - 18 %
1.26 % Decrease
Constant prepayment rate (CPR) - current loans 9.34 %
9.34 % Decrease
Average life - delinquent loans (in years) 1.2 years - 11.5 years
5.7 years Decrease
MSRs 193,061   Discounted cash flows Discount rate 5 % - 27 %
10.43 % Decrease
Constant prepayment rate (CPR) 0 % - 91 %
9.34 % Decrease
Cost of servicing $ 70 - $ 200
$ 76   Decrease
Cost of servicing - delinquent $ 200 - 1,000
$ 390   Decrease
Derivatives 5,548   Discounted cash flows Pull-through rate 3 % - 100 %
80.62   % Increase
Measured at fair value on a non-recurring basis:
Individually assessed loans - foreclosure probable and collateral-dependent 143,486   Appraisal value Appraisal adjustment - cost of sale 10 % 10.00 % Decrease
Other real estate owned 23,615   Appraisal value Appraisal adjustment - cost of sale 10 % 10.00 % Decrease

42

Table of Contents

The Company is required under applicable accounting guidance to report the fair value of all financial instruments on the Consolidated Statements of Condition, including those financial instruments carried at cost. The table below presents the carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown:

At June 30, 2025 At December 31, 2024 At June 30, 2024
Carrying Fair Carrying Fair Carrying Fair
(In thousands) Value Value Value Value Value Value
Financial Assets:
Cash and cash equivalents $ 695,564   $ 695,564   $ 458,536   $ 458,536   $ 415,524   $ 415,524  

Interest-bearing deposits with banks 4,569,618   4,569,618   4,409,753   4,409,753   2,824,314   2,824,314  
Available-for-sale securities 4,885,715   4,885,715   4,141,482   4,141,482   4,329,957   4,329,957  
Held-to-maturity securities 3,502,186   2,869,415   3,613,263   2,910,550   3,755,924   3,060,467  
Trading account securities —   —   4,072   4,072   4,134   4,134  
Equity securities with readily determinable fair value 273,722   273,722   215,412   215,412   112,173   112,173  
FHLB and FRB stock, at cost 282,087   282,087   281,407   281,407   256,495   256,495  
Brokerage customer receivables —   —   18,102   18,102   13,682   13,682  
Mortgage loans held-for-sale, at fair value 299,606   299,606   331,261   331,261   411,851   411,851  
Loans held-for-investment, at fair value 136,884   136,884   158,795   158,795   135,834   135,834  
Loans held-for-investment, at amortized cost 50,904,795   50,121,351   47,896,242   47,070,249   44,539,697   43,461,319  
Nonqualified deferred compensation assets 17,283   17,283   16,653   16,653   16,041   16,041  
Derivative assets 221,106   221,106   200,027   200,027   243,860   243,860  
Accrued interest receivable and other 576,813   576,813   563,625   563,625   505,504   505,504  
Total financial assets $ 66,365,379   $ 64,949,164   $ 62,308,630   $ 60,779,924   $ 57,564,990   $ 55,791,155  
Financial Liabilities:
Non-maturity deposits $ 45,484,115   $ 45,484,115   $ 43,092,318   $ 43,092,318   $ 38,778,256   $ 38,778,256  
Deposits with stated maturities 10,332,696   10,319,942   9,420,031   9,423,976   9,270,770   9,248,374  
FHLB advances 3,151,309   3,185,868   3,151,309   3,153,524   3,176,309   3,195,138  
Other borrowings 625,392   625,402   534,803   534,406   606,579   605,305  
Subordinated notes 298,458   292,668   298,283   286,683   298,113   273,666  
Junior subordinated debentures 253,566   253,573   253,566   253,588   253,566   253,571  
Derivative liabilities 161,402   161,402   241,750   241,750   317,659   317,659  
Accrued interest payable 57,470   57,470   48,364   48,364   66,373   66,373  
Total financial liabilities $ 60,364,408   $ 60,380,440   $ 57,040,424   $ 57,034,609   $ 52,767,625   $ 52,738,342  

Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820, as certain assets and liabilities result in their carrying value approximating fair value. These include cash and cash equivalents, interest-bearing deposits with banks, brokerage customer receivables, FHLB and FRB stock, accrued interest receivable and accrued interest payable and non-maturity deposits.

The following methods and assumptions were used by the Company in estimating fair values of financial instruments that were not previously disclosed.

Held-to-maturity securities — Held-to-maturity securities include U.S. government-sponsored agency securities, municipal bonds issued by various municipal government entities primarily located in the Chicago metropolitan area, southern Wisconsin, and west Michigan and mortgage-backed securities. Fair values for held-to-maturity securities are typically based on prices obtained from independent pricing vendors. In accordance with ASC 820, the Company has generally categorized these held-to-maturity securities as a Level 2 fair value measurement. Fair values for certain other held-to-maturity securities are based on the bond pricing methodology discussed previously related to certain available-for-sale securities. In accordance with ASC 820, the Company has categorized these held-to-maturity securities as a Level 3 fair value measurement.

Loans held-for-investment, at amortized cost — Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are analyzed by type (commercial, residential real estate, etc.) and category within each type (construction, non-construction, franchise lending etc.). Each category is further segmented by interest rate type (fixed and variable). The fair value of both fixed and variable rate loans is estimated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect credit and interest rate risks inherent in the loan. In accordance with ASC 820, the Company has categorized loans as a Level 3 fair value measurement.
43

Table of Contents

Deposits with stated maturities — The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently in effect for deposits of similar remaining maturities. In accordance with ASC 820, the Company has categorized deposits with stated maturities as a Level 3 fair value measurement.

FHLB advances — The fair value of FHLB advances is calculated using a discounted cash flow analysis based on current market rates of similar maturity debt securities to discount cash flows. In accordance with ASC 820, the Company has categorized FHLB advances as a Level 3 fair value measurement.

Subordinated notes — The fair value of the subordinated notes is based on a market price obtained from an independent pricing vendor. In accordance with ASC 820, the Company has categorized subordinated notes as a Level 2 fair value measurement.

Junior subordinated debentures — The fair value of the junior subordinated debentures is based on the discounted value of contractual cash flows. In accordance with ASC 820, the Company has categorized junior subordinated debentures as a Level 3 fair value measurement.

(16) Stock-Based Compensation Plans

As of June 30, 2025, approximately 2,179,000 shares were available for future grants, assuming the maximum number of shares are issued for the performance awards outstanding, approved under the Company Stock Incentive Plans (“the Plans”). Descriptions of the Plans are included in Note (18) “Stock Compensation Plans and Other Employee Benefit Plans” of the 2024 Form 10-K.

Stock-based compensation expense recognized in the Consolidated Statements of Income was $ 10.2 million in the second quarter of 2025 and $ 9.0 million in the second quarter of 2024, and $ 20.6 million and $ 18.1 million in the six months ended June 30, 2025 and 2024, respectively.

A summary of the Plans’ stock option activity for the six months ended June 30, 2025 and June 30, 2024 is presented below:

Stock Options Common
Shares Weighted
Average
Strike Price Remaining
Contractual
Term   (1)
Intrinsic
Value  (2)
(in thousands)

Outstanding at January 1, 2025
10,825   $ 43.76  
Granted —   —  
Exercised ( 5,150 ) 42.61  
Forfeited or canceled —   —  
Outstanding at June 30, 2025
5,675   $ 44.81   3.2 $ 449  
Exercisable at June 30, 2025
5,675   $ 44.81   3.2 $ 449  

Stock Options Common
Shares Weighted
Average
Strike Price Remaining
Contractual
Term (1)
Intrinsic
Value  (2)
(in thousands)

Outstanding at January 1, 2024
13,100   $ 42.76  

Granted —   —  
Exercised ( 775 ) 32.26  
Forfeited or canceled —   —  
Outstanding at June 30, 2024
12,325   $ 43.42   4.0 $ 680  
Exercisable at June 30, 2024
12,325   $ 43.42   4.0 $ 680  

(1) Represents the remaining weighted average contractual life in years.
(2) Aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company’s stock price on the last trading day of the quarter and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the quarter. Options with exercise prices above the stock price on the last trading day of the quarter are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company’s stock.

The aggregate intrinsic value of options exercised during the six months ended June 30, 2025 and June 30, 2024, was approximately $ 467,000 and $ 50,000 , respectively. Cash received from option exercises under the Plans for the six months ended June 30, 2025 and June 30, 2024 was approximately $ 220,000 and $ 25,000 , respectively.

44

Table of Contents

A summary of the Plans’ restricted share activity for the six months ended June 30, 2025 and June 30, 2024 is presented below:

Six months ended June 30, 2025 Six months ended June 30, 2024
Restricted Shares Common
Shares Weighted
Average
Grant-Date
Fair Value Common
Shares Weighted
Average
Grant-Date
Fair Value
Outstanding at January 1 880,866   $ 90.95   746,123   $ 79.60  
Granted 254,059   133.14   389,198   99.50  
Vested and issued ( 201,993 ) 94.27   ( 228,719 ) 69.54  
Forfeited or canceled ( 17,703 ) 106.93   ( 7,893 ) 91.47  
Outstanding at June 30
915,229   $ 101.62   898,709   $ 90.68  
Vested, but deferred, at June 30
101,426   $ 55.02   99,844   $ 53.98  

A summary of the Plans’ performance-based stock award activity, based on the target level of the awards, for the six months ended June 30, 2025 and June 30, 2024 is presented below:

Six months ended June 30, 2025 Six months ended June 30, 2024
Performance-based Stock Common
Shares Weighted
Average
Grant-Date
Fair Value Common
Shares Weighted
Average
Grant-Date
Fair Value
Outstanding at January 1 454,017   $ 93.57   553,026   $ 79.69  
Granted 87,844   134.58   96,952   58.78  
Added by performance factor at vesting 75,461   96.51   111,304   100.44  
Vested and issued ( 230,957 ) 95.26   ( 295,644 ) 58.69  
Forfeited or canceled ( 7,376 ) 104.88   ( 3,154 ) 95.94  
Outstanding at June 30
378,989   $ 102.41   462,484   $ 93.61  
Vested, but deferred, at June 30
13,231   $ 40.53   21,593   $ 43.95  

45

Table of Contents

(17) Accumulated Other Comprehensive Income or Loss and Earnings Per Share

Accumulated Other Comprehensive Income or Loss

The following tables summarize the components of other comprehensive income or loss, including the related income tax effects, and the related amount reclassified to net income for the periods presented:

(In thousands) Accumulated
Unrealized (Losses) Gains
on Securities Accumulated
Unrealized Gains (Losses) on
Derivative
Instruments Accumulated
Foreign
Currency
Translation
Adjustments Total
Accumulated
Other
Comprehensive (Loss) Income
Balance at April 1, 2025 $ ( 373,994 ) $ 31,747   $ ( 67,768 ) $ ( 410,015 )
Other comprehensive income during the period, net of tax, before reclassifications 3,970   18,555   17,583   40,108  
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax 64   3,618   —   3,682  
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax ( 8 ) —   —   ( 8 )
Net other comprehensive income during the period, net of tax $ 4,026   $ 22,173   $ 17,583   $ 43,782  
Balance at June 30, 2025 $ ( 369,968 ) $ 53,920   $ ( 50,185 ) $ ( 366,233 )

Balance at January 1, 2025 $ ( 429,580 ) $ ( 11,227 ) $ ( 67,528 ) $ ( 508,335 )
Other comprehensive income during the period, net of tax, before reclassifications 59,341   57,277   17,343   133,961  
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax 287   7,870   —   8,157  
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax ( 16 ) —   —   ( 16 )
Net other comprehensive income during the period, net of tax $ 59,612   $ 65,147   $ 17,343   $ 142,102  
Balance at June 30, 2025 $ ( 369,968 ) $ 53,920   $ ( 50,185 ) $ ( 366,233 )

Balance at April 1, 2024 $ ( 408,002 ) $ ( 28,329 ) $ ( 48,817 ) $ ( 485,148 )
Other comprehensive loss during the period, net of tax, before reclassifications ( 15,275 ) ( 23,070 ) ( 2,905 ) ( 41,250 )
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax ( 885 ) 15,095   —   14,210  
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax ( 10 ) —   —   ( 10 )
Net other comprehensive loss during the period, net of tax $ ( 16,170 ) $ ( 7,975 ) $ ( 2,905 ) $ ( 27,050 )
Balance at June 30, 2024 $ ( 424,172 ) $ ( 36,304 ) $ ( 51,722 ) $ ( 512,198 )

Balance at January 1, 2024 $ ( 350,697 ) $ 32,049   $ ( 42,583 ) $ ( 361,231 )
Other comprehensive loss during the period, net of tax, before reclassifications ( 72,562 ) ( 98,024 ) ( 9,139 ) ( 179,725 )
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax ( 866 ) 29,671   —   28,805  
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax ( 47 ) —   —   ( 47 )
Net other comprehensive loss during the period, net of tax $ ( 73,475 ) $ ( 68,353 ) $ ( 9,139 ) $ ( 150,967 )
Balance at June 30, 2024 $ ( 424,172 ) $ ( 36,304 ) $ ( 51,722 ) $ ( 512,198 )

46

Table of Contents

(In thousands) Amount Reclassified from Accumulated Other Comprehensive Income or Loss for the
Details Regarding the Component of Accumulated Other Comprehensive Income or Loss Three Months Ended Six Months Ended Impacted Line on the
Consolidated Statements of Income
June 30, June 30,
2025 2024 2025 2024
Accumulated unrealized (losses) gains on securities
Gains included in net income $ ( 87 ) $ 1,204   $ ( 388 ) $ 1,178   Gains (losses) on investment securities, net
( 87 ) 1,204   ( 388 ) 1,178   Income before taxes
Tax effect 23   ( 319 ) 101   ( 312 ) Income tax expense
Net of tax $ ( 64 ) $ 885   $ ( 287 ) $ 866   Net income

Accumulated unrealized gains on derivative instruments
Amount reclassified to interest income on loans $ 8,215   $ 23,849   $ 17,286   $ 48,324   Interest on Loans
Amount reclassified to interest expense on deposits ( 3,325 ) ( 3,325 ) ( 6,650 ) ( 7,982 ) Interest on deposits

( 4,890 ) ( 20,524 ) ( 10,636 ) ( 40,342 ) Income before taxes
Tax effect 1,272   5,429   2,766   10,671   Income tax expense
Net of tax $ ( 3,618 ) $ ( 15,095 ) $ ( 7,870 ) $ ( 29,671 ) Net income

Earnings per Share

The following table shows the computation of basic and diluted earnings per share for the periods indicated:

Three Months Ended Six Months Ended
(Dollars in thousands, except per share data) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Net income $ 195,527   $ 152,388   $ 384,566   $ 339,682  
Less: Preferred stock dividends 6,991   6,991   13,982   13,982  
Net income applicable to common shares (A) $ 188,536   $ 145,397   $ 370,584   $ 325,700  

Weighted average common shares outstanding (B) 66,931   61,839   66,829   61,660  
Effect of dilutive potential common shares
Common stock equivalents 888   926   903   901  
Weighted average common shares and effect of dilutive potential common shares (C) 67,819   62,765   67,732   62,561  
Net income per common share:
Basic (A/B) $ 2.82   $ 2.35   $ 5.55   $ 5.28  
Diluted (A/C) $ 2.78   $ 2.32   $ 5.47   $ 5.21  

Potentially dilutive common shares can result from stock options, restricted stock unit awards and shares to be issued under the Employee Stock Purchase Plan and the Directors Deferred Fee and Stock Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect of inclusion would either reduce the loss per share or increase the income per share.

At the January 2025 meeting of the Board of Directors of the Company (the “Board of Directors”), a quarterly cash dividend of $ 0.50 per share ($ 2.00 on an annualized basis) was declared. It was paid on February 20, 2025 to shareholders of record as of February 6, 2025. At the April 2025 meeting of the Board of Directors, a quarterly cash dividend of $ 0.50 per share ($ 2.00 on an annualized basis) was declared. It was paid on May 22, 2025 to shareholders of record as of May 8, 2025.

47

Table of Contents

(18) Subsequent Events

On July 15, 2025, the Company redeemed all 5,000,000 issued and outstanding shares of the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (the “Series D Preferred Stock”), for a redemption price of $ 25.00 per share or $ 125.0  million. Also, the Company redeemed all 11,500 issued and outstanding shares of 6.875 % Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E (the “Series E Preferred Stock”), and all of the related 11,500,000 issued and outstanding depositary shares (the “Depositary Shares”), each representing a 1/1,000 th interest in a share of Series E Preferred Stock, for a redemption price of $ 25,000 per share of Series E Preferred Stock (or $ 25.00 per Depositary Share) or $ 287.5  million. The regular quarterly dividends on the Series D Preferred Stock and the Series E Preferred Stock represented by the Depositary Shares were paid separately on July 15, 2025 to holders of record on July 1, 2025. Accordingly, the redemption price did not include any accrued and unpaid dividends.

The redemptions were funded with a portion of the net proceeds from the Company’s previously disclosed public offering of depositary shares, each representing a 1/1,000th interest in a share of its 7.875 % Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F, which was completed on May 22, 2025 (see “Shareholders’ Equity” for further detail).

ITEM 2
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of the financial condition of Wintrust Financial Corporation and its subsidiaries (collectively, “Wintrust” or the “Company”) as of June 30, 2025 compared with December 31, 2024 and June 30, 2024, and the results of operations for the three and six month periods ended June 30, 2025 and June 30, 2024, should be read in conjunction with the unaudited consolidated financial statements and notes contained in this report and the risk factors discussed under Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (“2024 Form 10-K”) and in Part II, Item 1A, of this Form 10-Q. This discussion contains forward-looking statements that involve risks and uncertainties and, as such, future results could differ significantly from management’s current expectations. See the last section of this discussion for further information on forward-looking statements.

Introduction

Wintrust is a financial holding company that provides traditional community and commercial banking services and offers a full array of wealth management services, primarily to customers in the Chicago metropolitan area, southern Wisconsin, northwest Indiana, and west Michigan, and operates other financing businesses on a national basis and in Canada through several non-bank businesses.

Overview

Second Quarter Highlights

The Company recorded net income of $195.5 million for the second quarter of 2025 compared to $152.4 million in the second quarter of 2024. The results for the second quarter of 2025 demonstrate increased net interest income due to growth in earning assets as well as the Company’s ability to navigate disruptions in the current economic environment during the period due to the Company’s strong deposit franchise and balanced business model. Partially offsetting the increase in net interest income was an increase in non-interest expense. The increase in non-interest expense was a result of additional expenses to support organic growth as well as the impact from the Macatawa acquisition. Comprehensive income includes 1) net income as presented on the Company’s Consolidated Statements of Income and 2) other comprehensive income or loss from unrealized gains and losses on the Company’s available-for-sale investment securities portfolios and derivative contracts designated as cash flow hedges as well as foreign currency translation adjustments. Comprehensive income totaled $239.3 million for the second quarter of 2025 compared to $125.3 million for the second quarter of 2024.

The Company increased its loan portfolio from $44.7 billion at June 30, 2024 and $48.1 billion at December 31, 2024 to $51.0 billion at June 30, 2025. The increase in the current period compared to the prior periods was a result of growth in several portfolios, including the commercial, commercial real estate, residential real estate loans held for investment portfolios, and insurance premium finance receivable portfolios. For more information regarding changes in the Company’s loan portfolio, see Financial Condition – Interest Earning Assets and Note (6) “Loans” of the Consolidated Financial Statements in Item 1 of this report.

48

Table of Contents

The Company recorded net interest income of $546.7 million in the second quarter of 2025 compared to $470.6 million in the second quarter of 2024. This increase in net interest income recorded in the second quarter of 2025 compared to the second quarter of 2024 resulted primarily from growth in earning assets, specifically a $5.7 billion increase in average loans. Net interest margin was 3.52% (3.54% on a fully taxable-equivalent basis, non-GAAP) in the second quarter of 2025 compared to 3.50% (3.52% on a fully taxable-equivalent basis, non-GAAP) in the second quarter of 2024. The increase in net interest margin is primarily due to a reduction in funding cost, primarily related to the rate paid on interest-bearing liabilities, most notably interest-bearing deposits, junior subordinated debentures and other borrowings. This was partially offset by a decline in loan and other earning assets yields along with a decline in the net free funds contribution (see “Net Interest Income” for further detail).

Non-interest income totaled $124.1 million in the second quarter of 2025 compared to $121.1 million in the second quarter of 2024. The increase is primarily due to an increase on gains recognized on investment securities of $4.9 million and an increase of service charges on deposit accounts of $4.0 million in the second quarter of 2025 compared to the second quarter of 2024 . This was partially offset by a decrease in mortgage banking revenue of $6.0 million (see “Non-Interest Income” for further detail).

Non-interest expense totaled $381.5 million in the second quarter of 2025, an increase of $41.1 million, or 12%, compared to the second quarter of 2024. This increase compared to the second quarter of 2024 was primarily attributable to increased salaries and employee benefits of $21.0 million, increased software and equipment expenses of $7.3 million and increased amortization of other acquisition-related intangible assets of $4.5 million. (see “Non-Interest Expense” for further detail).

Management considers the maintenance of adequate liquidity to be important to the management of risk. Accordingly, during the second quarter of 2025, the Company continued its practice of maintaining appropriate funding capacity to provide the Company with adequate liquidity for its ongoing operations. In this regard, the Company benefited from its strong deposit base, a liquid investment portfolio and its access to funding from a variety of external funding sources, including the Company’s issuance of an additional series of preferred stock during the second quarter of 2025. See “Shareholders’ Equity”, “Deposits” and “Other Funding Sources” for additional information regarding liquidity sources.

49

Table of Contents

RESULTS OF OPERATIONS

Earnings Summary
The Company’s key operating measures and growth rates for the three and six months ended June 30, 2025, as compared to the same period last year, are shown below:

Three Months Ended
(Dollars in thousands, except per share data) June 30,
2025 June 30,
2024 Percentage (%) or
Basis Point (bp) Change
Net income $ 195,527   $ 152,388  28  %
Pre-tax income, excluding provision for credit losses (non-GAAP) (1)
289,322   251,404  15 

Net income per common share—Diluted 2.78   2.32  20 
Net revenue (2)
670,783   591,757  13 
Net interest income 546,694   470,610  16 
Net interest margin 3.52   % 3.50  % 2  bps
Net interest margin - fully taxable-equivalent (non-GAAP) (1)
3.54   3.52  2 
Net overhead ratio (3)
1.57   1.53  4 

Return on average assets 1.19   1.07  12 
Return on average common equity 12.07   11.61  46 
Return on average tangible common equity (non-GAAP) (1)
14.44   13.49  95 

Six months ended
(Dollars in thousands, except per share data) June 30,
2025 June 30,
2024 Percentage (%) or
Basis Point (bp) Change
Net income $ 384,566   $ 339,682  13    %
Pre-tax income, excluding provision for credit losses (non-GAAP) (1)
566,340   523,033  8 

Net income per common share—Diluted 5.47   5.21  5 
Net revenue (2)
1,313,891   1,196,531  10 
Net interest income 1,073,168   934,804  15 
Net interest margin 3.53   % 3.53  % —  bps
Net interest margin - fully taxable-equivalent (non-GAAP) (1)
3.55   3.56  (1)
Net overhead ratio (3)
1.57   1.46  11 

Return on average assets 1.19   1.21  (2)
Return on average common equity 12.14   13.01  (87)
Return on average tangible common equity (non-GAAP) (1)
14.57   15.12  (55)
At end of period
Total assets $ 68,983,318   $ 59,781,516  15  %
Total loans, excluding loans held-for-sale 51,041,679   44,675,531  14 
Total loans, including loans held-for-sale 51,341,285   45,087,382  14 
Total deposits 55,816,811   48,049,026  16 
Total shareholders’ equity 7,225,696   5,536,628  31 

Book value per common share (1)
95.43   82.97  15 
Tangible common book value per share (1)
81.86   72.01  14 
Market price per common share 123.98   98.56  26 

Allowance for loan and unfunded lending-related commitment losses to total loans 0.90   % 0.98  % (8)  bps

(1) See following section titled “Supplemental Non-GAAP Financial Measures/Ratios” for additional information on this performance measure/ratio.
(2) Net revenue is net interest income plus non-interest income.
(3) 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 total average assets. A lower ratio indicates a higher degree of efficiency.

Certain returns, yields, performance ratios, and quarterly growth rates are “annualized” throughout this report 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, balance sheet growth rates are most often expressed in terms of an annual rate. As such, 5% growth during a quarter would represent an annualized growth rate of 20%.

50

Table of Contents

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 (“FTE”) basis. 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.

A reconciliation of certain non-GAAP performance measures and ratios used by the Company to evaluate and measure the Company’s performance to the most directly comparable GAAP financial measures is shown below:
51

Table of Contents

Three Months Ended Six Months Ended
  June 30, March 31, June 30, June 30, June 30,
(Dollars and shares in thousands) 2025 2025 2024 2025 2024
Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
(A) Interest Income (GAAP) $ 920,908   $ 886,965  $ 849,979  $ 1,807,873   $ 1,655,492 
Taxable-equivalent adjustment:
 - Loans
2,200   2,206  2,305  4,406   4,551 
 - Liquidity management assets 680   690  567  1,370   1,117 
 - Other earning assets —   3  3  3   8 
(B) Interest Income (non-GAAP) $ 923,788   $ 889,864  $ 852,854  $ 1,813,652   $ 1,661,168 
(C) Interest Expense (GAAP) 374,214   360,491  379,369  734,705   720,688 
(D) Net Interest Income (GAAP) (A minus C) 546,694   526,474  470,610  1,073,168   934,804 
(E) Net Interest Income, fully taxable-equivalent (non-GAAP) (B minus C) 549,574   529,373  473,485  1,078,947   940,480 

Net interest margin (GAAP) 3.52   % 3.54  % 3.50  % 3.53   % 3.53  %
Net interest margin, fully taxable-equivalent (non-GAAP) 3.54   3.56  3.52  3.55   3.56 
(F) Non-interest income $ 124,089   $ 116,634  $ 121,147  $ 240,723   $ 261,727 
(G) Gains (losses) on investment securities, net 650   3,196  (4,282) 3,846   (2,956)
(H) Non-interest expense 381,461   366,090  340,353  747,551   673,498 
Efficiency ratio (H/(D+F-G)) 56.92   % 57.21  % 57.10  % 57.06   % 56.15  %
Efficiency ratio (non-GAAP) (H/(E+F-G)) 56.68   56.95  56.83  56.81   55.88 

Reconciliation of Non-GAAP Tangible Common Equity Ratio:
Total shareholders’ equity (GAAP) $ 7,225,696   $ 6,600,537  $ 5,536,628 

Less: Non-convertible preferred stock (GAAP) (837,500) (412,500) (412,500)
Less: Acquisition-related intangible assets (GAAP) (908,639) (913,004) (676,562)
(I) Total tangible common shareholders’ equity (non-GAAP) $ 5,479,557   $ 5,275,033  $ 4,447,566 
(J) Total assets (GAAP) $ 68,983,318   $ 65,870,066  $ 59,781,516 
Less: Acquisition-related intangible assets (GAAP) (908,639) (913,004) (676,562)
(K) Total tangible assets (non-GAAP) $ 68,074,679   $ 64,957,062  $ 59,104,954 
Common equity to assets ratio (GAAP) (L/J) 9.3   % 9.4  % 8.6  %
Tangible common equity ratio (non-GAAP) (I/K) 8.0   8.1  7.5 

Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity $ 7,225,696   $ 6,600,537  $ 5,536,628 
Less: Preferred stock (837,500) (412,500) (412,500)
(L) Total common equity $ 6,388,196   $ 6,188,037  $ 5,124,128 
(M) Actual common shares outstanding 66,938   66,919  61,760 
Book value per common share (L/M) $ 95.43   $ 92.47  $ 82.97 
Tangible book value per common share (non-GAAP) (I/M) 81.86   78.83  72.01 

Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
(N) Net income applicable to common shares $ 188,536   $ 182,048  $ 145,397  $ 370,584   $ 325,700 
Add: Acquisition-related intangible asset amortization 5,580   5,618  1,122  11,198   2,280 
Less: Tax effect of acquisition-related intangible asset amortization (1,495) (1,421) (311) (2,923) (602)
After-tax acquisition-related intangible asset amortization $ 4,085   $ 4,197  $ 811  $ 8,275   $ 1,678 
(O) Tangible net income applicable to common shares (non-GAAP) $ 192,621   $ 186,245  $ 146,208  $ 378,859   $ 327,378 
Total average shareholders’ equity $ 6,862,040   $ 6,460,941  $ 5,450,173  $ 6,662,598   $ 5,445,315 
Less: Average preferred stock (599,313) (412,500) (412,500) (506,423) (412,500)
(P) Total average common shareholders’ equity $ 6,262,727   $ 6,048,441  $ 5,037,673  $ 6,156,175   $ 5,032,815 
Less: Average acquisition-related intangible assets (910,924) (916,069) (677,207) (913,483) (677,969)
(Q) Total average tangible common shareholders’ equity (non-GAAP) $ 5,351,803   $ 5,132,372  $ 4,360,466  $ 5,242,692   $ 4,354,846 
Return on average common equity, annualized (N/P) 12.07   % 12.21  % 11.61  % 12.14   % 13.01  %
Return on average tangible common equity, annualized (non-GAAP) (O/Q) 14.44   14.72  13.49  14.57   15.12 

Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:
Income before taxes $ 267,088   $ 253,055  $ 211,343  $ 520,143   $ 461,299 
Add: Provision for credit losses 22,234   23,963  40,061  46,197   61,734 
Pre-tax income, excluding provision for credit losses (non-GAAP) $ 289,322   $ 277,018  $ 251,404  $ 566,340  $ 523,033 

Critical Accounting Estimates

The Company’s Consolidated Financial Statements are prepared in accordance with GAAP in the United States, prevailing practices of the banking industry, and the application of accounting policies of which are described in Note (1) “Summary of Significant Accounting Policies” to the Consolidated Financial Statements in Item 8 of the Company’s 2024 Form 10-K. These policies require numerous estimates and strategic or economic assumptions, which may prove inaccurate or subject to
52

Table of Contents

variations. Changes in underlying factors, assumptions or estimates could have a material impact on the Company’s future financial condition and results of operations. At June 30, 2025, management views critical accounting estimates to include the determination of the allowance for credit losses, estimations of fair value, the valuations required for impairment testing of goodwill, the valuation and accounting for derivative instruments and income taxes as the accounting areas that require the most subjective and complex judgments, and as such could be most subject to revision as new information becomes available. These estimates were reviewed with the Audit Committee of the Board of Directors.

Allowance for Credit Losses, including the Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Allowance for Held-to-Maturity Debt Securities

The allowance for credit losses represents management’s estimate of expected credit losses over the life of a financial asset carried at amortized cost. Determining the amount of the allowance for credit losses is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the fair value of the underlying collateral and amount and timing of expected future cash flows on individually assessed financial assets, estimated credit losses on pools of loans with similar risk characteristics, and consideration of reasonable and supportable forecasts of macroeconomic conditions, all of which are susceptible to significant change. At June 30, 2025, the loan and held-to-maturity debt securities portfolios represent 79% of the total assets on the Company’s consolidated balance sheet. The Company also maintains an allowance for lending-related commitments, specifically unfunded loan commitments and letters of credit, which relates to certain amounts the Company is committed to lend (not unconditionally cancelable) but for which funds have not yet been disbursed.

Key macroeconomic variable data points that are significant inputs into our credit loss models for the commercial and commercial real estate portfolios are the Baa corporate credit spread as well as the Dow Jones Total Stock Market Index specifically for the commercial portfolio and the Commercial Real Estate Price Index (“CREPI”) specifically related to the commercial real estate portfolio. The Dow Jones Total Stock Market Index is not a new macroeconomic variable used in the commercial loss model. This variable has always been a part of the expected credit loss model for commercial, however we have included the impact analysis due to the significant volatility experienced in this variable during the beginning of 2025. Holding all other inputs constant, the table below shows the impact of changes in these key macroeconomic variable data points on the estimate of allowance for credit losses.

Impact to estimated allowance for credit losses from an increased or higher input value
Baa Credit Spread Increases
Dow Jones Total Stock Market Index Decreases
CRE Price Index Decreases

Holding all other inputs constant, the following table provides a sensitivity analysis for the commercial and commercial real estate portfolios based on a 20 basis point change in Baa credit spreads from the assumption utilized in the estimate of that portfolio’s allowance for credit losses at June 30, 2025:

Baa Credit Spread
Narrows Widens
Commercial Decreases estimate by 10%-15% Increases estimate by 10%-15%
Commercial Real Estate:
Construction Decreases estimate by 15%-20% Increases estimate by 15%-20%
Non-Construction Decreases estimate by 5%-6% Increases estimate by 5%-6%

Holding all other inputs constant, the following table provides a sensitivity analysis for the commercial portfolio based on a 10% change in the Dow Jones Total Stock Market Index from the assumption utilized in the estimate of that portfolio’s allowance for credit losses at June 30, 2025:

Dow Jones Total Stock Market Index
Increases Decreases
Commercial Decreases estimate by 5%-10% Increases estimate by 5%-10%

53

Table of Contents

Holding all other inputs constant, the following table provides a sensitivity analysis for the commercial real estate construction and non-construction portfolios based on a 10% change in CREPI from the assumption utilized in the estimate of that portfolio’s allowance for credit losses at June 30, 2025:

CRE Price Index
Increases Decreases
Commercial Real Estate:
Construction Decreases estimate by 30%-35% Increases estimate by 140%-145%
Non-Construction Decreases estimate by 25%-30% Increases estimate by 40%-45%

See Note (7) “Allowance for Credit Losses” to the Consolidated Financial Statements in Item 1 of this report and the section titled “Credit Quality” in Item 2 of this report for a description of the methodology used to determine the allowance for credit losses.

For a more detailed discussion on these critical accounting estimates, see “Summary of Critical Accounting Estimates” beginning on page 57 of the 2024 Form 10-K.

Net Income

Net income for the quarter ended June 30, 2025 totaled $195.5 million, an increase of $43.1 million, or 28%, compared to the quarter ended June 30, 2024. On a per share basis, net income for the second quarter of 2025 totaled $2.78 per diluted common share compared to $2.32 for the second quarter of 2024.

The increase in net income for the second quarter of 2025 as compared to the same period in the prior year is primarily attributable to increased net interest income and a lower provision for credit losses, partially offset by increased non-interest expense primarily due to increases in employees related to the growth of the Company, increased software and equipment expenses and amortization of intangible assets and other acquisition-related expenses that were not applicable in the same period in the prior year. See “Net Interest Income,” “Non-interest Income,” “Non-interest Expense” and “Credit Quality” for further detail.

Net Interest Income

The primary source of the Company’s revenue is net interest income. Net interest income is the difference between interest income and fees on earning assets, such as loans and securities, and interest expense on the liabilities to fund those assets, including interest-bearing deposits and other borrowings. The amount of net interest income is affected by both changes in the level of interest rates, and the amount and composition of earning assets and interest bearing liabilities.
54

Table of Contents

Quarter Ended June 30, 2025 compared to the Quarters Ended March 31, 2025 and June 30, 2024

The following table presents a summary of the Company’s average balances, net interest income and related net interest margins, including a calculation on a fully taxable-equivalent basis, for the second quarter of 2025 as compared to the first quarter of 2025 (sequential quarters) and second quarter of 2024 (linked quarters):

  Average Balance
for three months ended, Interest
for three months ended, Yield/Rate
for three months ended,
(Dollars in thousands) Jun 30,
2025 Mar 31,
2025 Jun 30,
2024 Jun 30,
2025 Mar 31,
2025 Jun 30,
2024 Jun 30,
2025 Mar 31,
2025 Jun 30,
2024
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$ 3,308,199   $ 3,520,048  $ 1,485,481  $ 34,593   $ 36,945  $ 19,748  4.19   % 4.26  % 5.35  %
Investment securities (2)
8,801,560   8,409,735  8,203,764  78,733   72,706  70,346  3.59   3.51  3.45 
FHLB and FRB stock 282,001   281,702  253,614  5,393   5,307  4,974  7.67   7.64  7.89 
Liquidity management assets (3) (8)
$ 12,391,760   $ 12,211,485  $ 9,942,859  $ 118,719   $ 114,958  $ 95,068  3.84   % 3.82  % 3.85  %
Other earning assets (3) (4) (8)
—   13,140  15,257  —   92  235  —   2.84  6.23 
Mortgage loans held-for-sale 310,534   286,710  347,236  4,872   4,246  5,434  6.29   6.01  6.29 
Loans, net of unearned
income (3) (5) (8)
49,517,635   47,833,380  43,819,354  800,197   770,568  752,117  6.48   6.53  6.90 

Total earning assets (8)
$ 62,219,929   $ 60,344,715  $ 54,124,706  $ 923,788   $ 889,864  $ 852,854  5.96   % 5.98  % 6.34  %
Allowance for loan and investment security losses (398,685) (375,371) (360,504)
Cash and due from banks 478,707   476,423  434,916 
Other assets 3,540,394   3,661,275  3,294,066 
Total assets
$ 65,840,345   $ 64,107,042  $ 57,493,184 

NOW and interest-bearing demand deposits $ 6,423,050   $ 6,046,189  $ 4,985,306  $ 37,517   $ 33,600  $ 32,719  2.34   % 2.25  % 2.64  %
Wealth management deposits 1,552,989   1,574,480  1,531,865  8,182   8,606  10,294  2.11   2.22  2.70 
Money market accounts 18,184,754   17,581,141  15,272,126  155,890   146,374  155,100  3.44   3.38  4.08 
Savings accounts 6,578,698   6,479,444  5,878,844  37,637   35,923  41,063  2.29   2.25  2.81 
Time deposits 9,841,702   9,406,126  8,546,172  94,244   95,730  96,527  3.84   4.13  4.54 
Interest-bearing deposits $ 42,581,193   $ 41,087,380  $ 36,214,313  $ 333,470   $ 320,233  $ 335,703  3.14   % 3.16  % 3.73  %
Federal Home Loan Bank advances 3,151,310   3,151,309  3,096,920  25,724   25,441  24,797  3.27   3.27  3.22 
Other borrowings 593,657   582,139  587,262  6,957   6,792  8,700  4.70   4.73  5.96 
Subordinated notes 298,398   298,306  410,331  3,735   3,714  5,185  5.02   5.05  5.08 
Junior subordinated debentures 253,566   253,566  253,566  4,328   4,311  4,984  6.85   6.90  7.91 
Total interest-bearing liabilities
$ 46,878,124   $ 45,372,700  $ 40,562,392  $ 374,214   $ 360,491  $ 379,369  3.20   % 3.22  % 3.76  %
Non-interest-bearing deposits 10,643,798   10,732,156  9,879,134 
Other liabilities 1,456,383   1,541,245  1,601,485 
Equity 6,862,040   6,460,941  5,450,173 
Total liabilities and shareholders’ equity
$ 65,840,345   $ 64,107,042  $ 57,493,184 
Interest rate spread (6) (8)
2.76   % 2.76  % 2.58  %
Less: Fully taxable-equivalent adjustment (2,880) (2,899) (2,875) (0.02) (0.02) (0.02)
Net free funds/contribution (7)
$ 15,341,805   $ 14,972,015  $ 13,562,314  0.78   0.80  0.94 
Net interest income/margin (GAAP) (8)
$ 546,694   $ 526,474  $ 470,610  3.52   % 3.54  % 3.50  %
Fully taxable-equivalent adjustment 2,880   2,899  2,875  0.02   0.02  0.02 
Net interest income/margin, fully taxable-equivalent (non-GAAP) (8)
$ 549,574   $ 529,373  $ 473,485  3.54   % 3.56  % 3.52  %

(1) Includes interest-bearing deposits with 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) Interest income on tax-advantaged loans, trading securities and investment securities reflects a tax-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period. The total adjustments for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024 were $2.9 million, $2.9 million and $2.9 million, respectively.
(4) Other earning assets include brokerage customer receivables and trading account securities.
(5) Loans, net of unearned income, include nonaccrual loans.
(6) Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
(7) 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.
(8) See “Supplemental Non-GAAP Financial Measures/Ratios” for additional information on this performance measure/ratio.
55

Table of Contents

For the second quarter of 2025, net interest income totaled $546.7 million, an increase of $20.2 million as compared to the first quarter of 2025, and an increase of $76.1 million as compared to the second quarter of 2024. Net interest margin was 3.52% (3.54% on a FTE basis, non-GAAP) during the second quarter of 2025 compared to 3.54% (3.56% on a FTE basis, non-GAAP) during the first quarter of 2025, and 3.50% (3.52% on a FTE basis, non-GAAP) during the second quarter of 2024.

The following table presents a summary of the Company’s net interest income and related net interest margin, including a calculation on a fully taxable-equivalent basis, for the six months ended June 30, 2025 compared to the six months ended June 30, 2024:

  Average Balance
for six months ended,
Interest
for six months ended,
Yield/Rate
for six months ended,

(Dollars in thousands) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)
$ 3,413,538   $ 1,369,906  $ 71,538   $ 36,425  4.23   % 5.35  %
Investment securities (2)
8,606,730   8,276,780  151,439   140,574  3.55   3.42 
FHLB and FRB stock 281,853   242,131  10,700   9,452  7.66   7.85 
Liquidity management assets (3) (8)
$ 12,302,121   $ 9,888,817  $ 233,677   $ 186,451  3.83   % 3.79  %
Other earning assets (3) (4) (8)
6,533   15,169  92   433  2.84   5.74 
Mortgage loans held-for-sale 298,688   318,756  9,118   9,580  6.16   6.04 
Loans, net of unearned income (3) (5) (8)
48,680,160   42,974,623  1,570,765   1,464,704  6.51   6.85 

Total earning assets (8)
$ 61,287,502   $ 53,197,365  $ 1,813,652   $ 1,661,168  5.97   % 6.28  %
Allowance for loan and investment security losses (387,092) (361,119)
Cash and due from banks 477,571   442,591 
Other assets 3,600,500   3,269,102 
Total assets $ 64,978,481   $ 56,547,939 

NOW and interest-bearing demand deposits $ 6,235,661   $ 5,332,786  $ 71,117   $ 67,615  2.30   % 2.55  %
Wealth management deposits 1,563,675   1,521,034  16,788   20,755  2.17   2.74 
Money market accounts 17,884,615   14,873,309  302,264   293,084  3.41   3.96 
Savings accounts 6,529,345   5,835,481  73,560   80,134  2.27   2.76 
Time deposits 9,625,117   7,847,314  189,974   173,647  3.98   4.45 
Interest-bearing deposits $ 41,838,413   $ 35,409,924  $ 653,703   $ 635,235  3.15   % 3.61  %
Federal Home Loan Bank advances 3,151,310   2,912,884  51,165   46,845  3.27   3.23 
Other borrowings 587,930   607,487  13,749   17,948  4.72   5.94 
Subordinated notes 298,353   424,112  7,449   10,672  5.04   5.06 
Junior subordinated debentures 253,566   253,566  8,639   9,988  6.87   7.92 
Total interest-bearing liabilities $ 46,129,572   $ 39,607,973  $ 734,705   $ 720,688  3.21   % 3.66  %
Non-interest-bearing deposits 10,687,733   9,925,890 
Other liabilities 1,498,578   1,568,761 
Equity 6,662,598   5,445,315 
Total liabilities and shareholders’ equity $ 64,978,481   $ 56,547,939 
Interest rate spread (6) (8)
2.76   % 2.62  %
Less: Fully taxable-equivalent adjustment (5,779) (5,676) (0.02) (0.03)
Net free funds/contribution (7)
$ 15,157,930   $ 13,589,392  0.79   0.94 
Net interest income/margin (GAAP) (8)
$ 1,073,168   $ 934,804  3.53   % 3.53  %
Fully taxable-equivalent adjustment 5,779   5,676  0.02   0.03 
Net interest income/margin, fully taxable-equivalent (non-GAAP) (8)
$ 1,078,947   $ 940,480  3.55   % 3.56  %

(1) Includes interest-bearing deposits with 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) Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on a marginal federal corporate tax rate in effect as of the applicable period. The total adjustments for the six months ended June 30, 2025 and June 30, 2024 were $5.8 million and $5.7 million, respectively.
(4) Other earning assets include brokerage customer receivables and trading account securities.
(5) Loans, net of unearned income, include nonaccrual loans.
(6) Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
(7) 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.
(8) See “Supplemental Non-GAAP Financial Measures/Ratios” for additional information on this performance ratio.

56

Table of Contents

Analysis of Changes in Net Interest Income on a FTE basis (non-GAAP)

The following table presents an analysis of the changes in the Company’s net interest income on a FTE basis (non-GAAP) comparing the three month ended June 30, 2025 to each of the three month periods ended March 31, 2025 and June 30, 2024 and six month periods ended June 30, 2025 and 2024. The reconciliations set forth the changes in the net interest income on a FTE basis (non-GAAP) as a result of changes in volumes, changes in rates and differing number of days in each period:

Second Quarter
of 2025
Compared to
First Quarter
of 2025
Second Quarter
of 2025
Compared to
Second Quarter
of 2024
First Six Months of 2025
Compared to
First Six Months of 2024

(In thousands)
Net interest income, FTE basis (non-GAAP) (1) for comparative period
$ 529,373   $ 473,485   $ 940,480  
Change due to mix and growth of earning assets and interest-bearing liabilities (volume) 15,198   68,533   133,965  
Change due to interest rate fluctuations (rate) (814) 7,556   9,698  
Change due to number of days in each period 5,817   —   (5,196)
Less: FTE adjustment (2,880) (2,880) (5,779)
Net interest income (GAAP) (1) for the period ended June 30, 2025
$ 546,694   $ 546,694   $ 1,073,168  
FTE adjustment 2,880   2,880   5,779  
Net interest income, FTE basis (non-GAAP) (1)
$ 549,574   $ 549,574   $ 1,078,947  

(1) See “Supplemental Non-GAAP Financial Measures/Ratios” for additional information on this performance measure/ratio.

Non-interest Income

The following table presents non-interest income by category for the periods presented:

Three Months Ended $
Change %
Change
(Dollars in thousands) June 30,
2025 June 30,
2024
Brokerage $ 4,212   $ 5,588  $ (1,376) (25) %
Trust and asset management 32,609   29,825  2,784  9 
Total wealth management (1)
36,821   35,413  1,408  4 
Mortgage banking 23,170   29,124  (5,954) (20)
Service charges on deposit accounts 19,502   15,546  3,956  25 
Gains (losses) on investment securities, net 650   (4,282) 4,932  NM
Fees from covered call options 5,624   2,056  3,568  NM
Trading gains, net 151   70  81  NM
Operating lease income, net 15,166   13,938  1,228  9 
Other:
Interest rate swap fees 3,010   3,392  (382) (11)
BOLI 2,257   1,351  906  67 
Administrative services 1,315   1,322  (7) (1)
Foreign currency remeasurement gains (losses) 658   (145) 803  NM
Changes in fair value on EBOs and loans held-for-investment 172   604  (432) (72)
Early pay-offs of capital leases 400   393  7  2 
Miscellaneous 15,193   22,365  (7,172) (32)
Total Other 23,005   29,282  (6,277) (21)
Total Non-interest Income $ 124,089   $ 121,147  $ 2,942  2  %

(1) Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company, N.A. (“WPTC”) 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 CDEC.
NM—Not Meaningful.
57

Table of Contents

Six Months Ended $
Change %
Change
(Dollars in thousands) June 30,
2025 June 30,
2024
Brokerage $ 8,969   $ 11,144  $ (2,175) (20) %
Trust and asset management 61,894   59,084  2,810  5 
Total wealth management (1)
70,863   70,228  635  1 
Mortgage banking 43,699   56,787  (13,088) (23)
Service charges on deposit accounts 38,864   30,357  8,507  28 
Gains (losses) on investment securities, net 3,846   (2,956) 6,802  NM
Fees from covered call options 9,070   6,903  2,167  31 
Trading gains, net 87   747  (660) (88)
Operating lease income, net 30,453   28,048  2,405  9 
Other:
Interest rate swap fees 5,279   6,220  (941) (15)
BOLI 3,053   3,002  51  2 
Administrative services 2,708   2,539  169  7 
Foreign currency remeasurement gains (losses) 475   (1,316) 1,791  NM
Changes in fair value on EBOs and loans held-for-investment 555   165  390  NM
Early pay-offs of capital leases 1,168   823  345  42 
Miscellaneous 30,603   60,180  (29,577) (49)
Total Other 43,841   71,613  (27,772) (39)
Total Non-interest Income $ 240,723   $ 261,727  $ (21,004) (8) %

(1) Wealth management revenue is comprised of the trust and asset management revenue of the WPTC 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 CDEC.
  NM—Not Meaningful.

Notable contributions to the change in non-interest income are as follows:

Mortgage banking revenue decreased for the three months ended June 30, 2025 as compared to the same period in 2024 due to lower production of loans originated for sale and net revenue related to MSR activity and valuation adjustments. On a year-to-date basis, mortgage banking revenue decreased for the six months ended June 30, 2025 as compared to the same period in 2024 as a result of lower production margins and net revenue related to lower MSR activity and valuation adjustments. Mortgage banking revenue includes revenue from activities related to originating, selling and servicing residential real estate loans for the secondary market. A main factor in the mortgage banking revenue recognized by the Company is the volume of mortgage loans originated or purchased for sale and the related production margins. Mortgage loans originated for sale totaled $681.5 million in the second quarter of 2025 as compared to $722.2 million in the second quarter of 2024. On a year-to-date basis, mortgage loans originated for sale totaled $1.1 billion for the six months ended June 30, 2025 as compared to $1.2 billion for six months ended June 30, 2024. The slight decrease in linked quarter originations was driven by a slight uptick in rates offset by slightly higher inventory levels. The percentage of origination volume from refinancing activities was 26% and 25% for the three and six months ended June 30, 2025, as compared to 17% and 20%, for the same periods in 2024, respectively.

The Company records MSRs at fair value on a recurring basis. For the three months ended June 30, 2025, the fair value of the MSRs portfolio decreased as a result of an unfavorable fair value adjustment of $4.0 million and a reduction in value of $5.6 million due to payoffs, paydowns and repurchases of the existing portfolio, partially offset as r etained servicing rights led to capitalization of $6.3 million. For the six months ended June 30, 2025, the fair value of the MSRs portfolio decreased due to an unfavorable fair value adjustment of $11.5 million as well as a reduction in value of $10.3 million due to payoffs and paydowns of the existing portfolio partially offset by retained servicing rights led to capitalization of $11.0 million. See Note (9) “Mortgage Servicing Rights (“MSRs”)” to the Consolidated Financial Statements in Item 1 of this report for a summary of the changes in the carrying value of MSRs.

Mortgage banking revenue is also impacted by changes in the fair value of derivative contracts held to economically hedge a portion of the fair value adjustments related to the Company’s MSRs portfolio. The change in fair value of the derivative contracts held as an economic hedge was a favorable $2.5 million and $7.4 million for the three and six months ended June 30, 2025 compared to an unfavorable $772,000 and $3.3 million for the three and six months ended June 30, 2024.

58

Table of Contents

Service charges on deposits increased for the three and six months ended June 30, 2025 as compared to the same periods in 2024 primarily as a result of increased commercial account analysis service fees, and the Macatawa acquisition. Service charges on deposit accounts include fees charged to deposit customers for various services, including account analysis services, and are based on factors such as the size and type of customer, type of product and number of transactions. The fees are based on a standard schedule of fees and, depending on the nature of the service performed, the service is performed at a point in time or over a period of a month.

The Company recognized net gains on investment securities for the three and six months ended June 30, 2025 of $650,000 and $3.8 million, respectively. The Company recognized net losses on investment securities for the three and six months ended June 30, 2024 of $4.3 million and $3.0 million, respectively. The net gains for the three and six months ended June 30, 2025 were primarily due to unrealized gains on the Company’s equity investment securities with a readily determinable fair value recorded in the first and second quarter of 2025. See Note (5) “Investment Securities” to the Consolidated Financial Statements in Item 1 of this report for more information on net gains and losses on investment securities.

Fees from covered call options for the three and six months ended June 30, 2025 increased $3.6 million and $2.2 million, respectively, when compared to the same periods in the prior year. The increased income was primarily because the Company sold more options than in the comparative periods. The Company has typically written call options with terms of less than three months against certain U.S. Treasury and agency securities held in its portfolio for liquidity and other purposes. Management has effectively entered into these transactions with the goal of economically hedging security positions and enhancing its overall return on its investment portfolio. These option transactions are designed to increase the total return associated with holding certain investment securities and do not qualify as hedges pursuant to accounting guidance. There were no outstanding call option contracts at June 30, 2025 and 2024.

Miscellaneous non-interest income includes loan servicing fees, income from other investments, and other fees. This category of income decreased $7.2 million and $29.6 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024. For the three months ended June 30, 2025, miscellaneous income decreased compared to the same period in 2024 primarily due to a $4.6 million gain recognized in the second quarter of 2024 on the sale of premium finance receivables. For the six months ended June 30, 2025, miscellaneous income decreased compared to the same period in 2024 primarily due to a $20.0 million gain recognized in the first quarter of 2024 related to the sale of the Company’s Retirement Benefits Advisors (“RBA”) division within its wealth management business.
59

Table of Contents

The table below presents additional selected information regarding mortgage banking for the respective periods.

Three Months Ended   Six Months Ended
(Dollars in thousands) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Originations:
Retail originations $ 523,759   $ 544,394  $ 872,227   $ 875,898 

Veterans First originations 157,787   177,792  269,772   321,901 
Total originations for sale (A) $ 681,546   $ 722,186  $ 1,141,999   $ 1,197,799 
Originations for investment 422,926   275,331  640,103   444,577 
Total originations $ 1,104,472   $ 997,517  $ 1,782,102   $ 1,642,376 
As percentage of originations for sale:
Retail originations 77   % 75  % 76   % 73  %
Veterans First originations 23   25  24   27 
Purchases 74   % 83  % 75   % 80  %
Refinances 26   17  25   20 

Production Margin:
Production revenue (B) (1)
$ 13,380   $ 14,990  $ 23,321   $ 28,425 
Total originations for sale (A) $ 681,546   $ 722,186  $ 1,141,999   $ 1,197,799 
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)
163,664   222,738  163,664   222,738 
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)
197,297   207,775  103,946   119,624 
Total mortgage production volume (C) $ 647,913   $ 737,149  $ 1,201,717   $ 1,300,913 
Production margin (B/C) 2.07   % 2.03  % 1.94   % 2.19  %
Mortgage Servicing:
Loans serviced for others (D) $ 12,470,924   $ 12,211,027 
MSRs, at fair value (E) 193,061   204,610 
Percentage of MSRs to loans serviced for others (E/D) 1.55   % 1.68  %
Servicing income $ 10,520   $ 10,586  $ 21,131   $ 21,084 
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period $ 196,307   $ 201,044  $ 203,788   $ 192,456 

MSR - current period capitalization 6,336   8,223  11,005   13,602 
MSR - collection of expected cash flows - paydowns (1,516) (1,504) (3,106) (2,948)
MSR - collection of expected cash flows - payoffs and repurchases (4,100) (4,030) (7,146) (6,972)
MSR - changes in fair value model assumptions (3,966) 877  (11,480) 8,472 
MSR Fair Value at end of period $ 193,061   $ 204,610  $ 193,061   $ 204,610 
Summary of Mortgage Banking Revenue
Operational:
Production revenue (1)
$ 13,380   $ 14,990  $ 23,321   $ 28,425 
MSR - Current period capitalization 6,336   8,223  11,005   13,602 
MSR - Collection of expected cash flows - paydowns (1,516) (1,504) (3,106) (2,948)
MSR - Collection of expected cash flows - pay offs (4,100) (4,030) (7,146) (6,972)
Servicing Income 10,520   10,586  21,131   21,084 
Other Revenue (79) 112  (251) 21 
Total operational mortgage banking revenue $ 24,541   $ 28,377  $ 44,954   $ 53,212 
Fair Value:
MSR - changes in fair value model assumptions $ (3,966) $ 877  $ (11,480) $ 8,472 
Gain (loss) on derivative contract held as an economic hedge, net 2,535   (772) 7,432   (3,349)
Changes in FV on early buy-out loans guaranteed by US Govt (HFS) 60   642  2,793   (1,548)
Total fair value mortgage banking revenue $ (1,371) $ 747  $ (1,255) $ 3,575 
Total mortgage banking revenue $ 23,170   $ 29,124  $ 43,699   $ 56,787 
    
(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.
60

Table of Contents

Non-interest Expense

The following table presents non-interest expense by category for the periods presented:

Three Months Ended $
Change %
Change
(Dollars in thousands) June 30,
2025 June 30,
2024
Salaries and employee benefits:
Salaries $ 123,174   $ 113,860  $ 9,314  8  %
Commissions and incentive compensation 55,871   52,151  3,720  7 
Benefits 40,496   32,530  7,966  24 
Total salaries and employee benefits 219,541   198,541  21,000  11 
Software and equipment 36,522   29,231  7,291  25 
Operating lease equipment 10,757   10,834  (77) (1)
Occupancy, net 20,228   19,585  643  3 
Data processing 12,110   9,503  2,607  27 
Advertising and marketing 18,761   17,436  1,325  8 
Professional fees 9,243   9,967  (724) (7)
Amortization of other acquisition-related intangible assets 5,580   1,122  4,458  NM
FDIC insurance 10,971   10,429  542  5 

OREO expense, net 505   (259) 764  NM
Other:
Lending expenses, net of deferred originations costs 4,869   5,335  (466) (9)
Travel and entertainment 6,026   5,340  686  13 
Miscellaneous 26,348   23,289  3,059  13 
Total other 37,243   33,964  3,279  10 
Total Non-interest Expense $ 381,461   $ 340,353  $ 41,108  12  %

NM - Not meaningful.

Six Months Ended $
Change %
Change
(Dollars in thousands) June 30,
2025 June 30,
2024
Salaries and employee benefits:
Salaries $ 247,091   $ 226,032  $ 21,059  9  %
Commissions and incentive compensation 108,407   103,152  5,255  5 
Benefits 75,569   64,530  11,039  17 
Total salaries and employee benefits 431,067   393,714  37,353  9 
Software and equipment 71,239   56,962  14,277  25 
Operating lease equipment 21,228   21,517  (289) (1)
Occupancy, net 41,006   38,671  2,335  6 
Data processing 23,384   18,795  4,589  24 
Advertising and marketing 31,033   30,476  557  2 
Professional fees 18,287   19,520  (1,233) (6)
Amortization of other acquisition-related intangible assets 11,198   2,280  8,918  NM
FDIC insurance 21,897   19,810  2,087  11 
FDIC insurance - special assessment —   5,156  (5,156) (100)
OREO expense, net 1,148   133  1,015  NM
Other:
Lending expenses, net of deferred originations costs 10,735   10,413  322  3 
Travel and entertainment 11,296   9,937  1,359  14 
Miscellaneous 54,033   46,114  7,919  17 
Total other 76,064   66,464  9,600  14 
Total Non-interest Expense $ 747,551   $ 673,498  $ 74,053  11  %

NM - Not meaningful.
Notable contributions to the change in non-interest expense are as follows:
61

Table of Contents

Salaries and employee benefits expense increased for the three and six months ended June 30, 2025 as compared to the same periods in 2024. The increase was primarily due to annual merit increases and increases in employees related to the growth of the Company, including the Macatawa acquisition.
Software and equipment expense increased for the three and six months ended June 30, 2025 as compared to the same periods in 2024 as a result of higher software license fees as well as higher computer and software depreciation expense as the Company invests in enhancements to the digital customer experience, upgrades to infrastructure and enhancements to information security capabilities. Software and equipment expense includes furniture, equipment and computer software, depreciation, and repairs and maintenance costs.
Amortization of other acquisition-related intangible assets increased for the three and six months ended June 30, 2025 compared to the same periods in 2024 as a result of amortization of the core deposit intangible asset associated with the Macatawa acquisition.
FDIC insurance expense decreased for the six months ended June 30, 2025 compared to the same period in 2024. On a year-to-date basis, the decrease is primarily due to $5.2 million recognized in March 31, 2024 related to the FDIC’s special assessment on uninsured deposits in response to certain bank failures that occurred in 2023.
Miscellaneous non-interest expense includes ATM expenses, correspondent bank charges, directors’ fees, telephone, postage, corporate insurance, dues and subscriptions, problem loan expenses and other miscellaneous operational losses and costs. During the three and six months ended June 30, 2025, the company incurred $2.9 million and $5.6 million in acquisition-related expenses related to the Macatawa acquisition.

Income Taxes

The Company recorded income tax expense of $71.6 million in the second quarter of 2025 compared to $59.0 million in the second quarter 2024. The effective tax rates were 26.79% in the second quarter 2025 compared to 27.90% in the second quarter of 2024. During the first six months of 2025, the Company recorded income tax expense of $135.6 million compared to $121.6 million for the first six months of 2024. The effective tax rates wer e 26.07% for the first six months of 2025 and 26.36% for the first six months of 2024.

The effective tax rates we re impacted by an overall higher level of state income tax expense in the prior comparable periods. Income tax expense was also partially 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 shared-based awards. The Company recorded net excess tax benefits of $3.7 million in the first six months of 2025, compared to net excess tax benefits of $4.4 million in the first six months of 2024 related to share-based compensation, most of which was recorded in the first quarter for each year.

Operating Segment Results

The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management. Refer to Note (13) “Segment Information” to the Consolidated Financial Statements in Item 1 of this report for further information on the Company’s primary segments. The Company’s profitability is primarily dependent on the net interest income, provision for credit losses, non-interest income and operating expenses of its community banking segment.

The community banking segment’s net interest income for the quarter ended June 30, 2025 totaled $436.7 million as compared to $358.8 million for the same period in 2024, an increase of $77.8 million, or 22%. On a year-to-date basis, net interest income for the segment increased by $133.2 million from $722.5 million for the six months ended June 30, 2024 to $855.7 million for the six months ended June 30, 2025 . The increase in the three and six month periods was primarily attributable to growth in average earning assets coupled with a relatively stable net interest margin . The community banking segment’s non-interest income totaled $75.5 million in the second quarter of 2025, an increase of $3.9 million , or 5% , when compared to the second quarter of 2024 total of $71.6 million . On a year-to-date basis, non-interest income totaled $149.0 million for the six months ended June 30, 2025 , an increase of $2.7 million , or 2% , compared to $146.3 million for the six months ended June 30, 2024. The increase in the three and six month periods, was primarily the result of an increase on gains recognized on investment securities and increased service charges on deposit accounts, partially offset by decreased mortgage banking revenue due to the decreases in MSRs related to the change in fair value model assumptions. The community banking segment recorded provision for credit losses of $20.5 million and $42.9 million, respectively, for the three and six months ended June 30, 2025, compared to $36.3 million and $56.7 million, respectively, for the same periods in 2024. The decrease in provision for credit losses for the three and six month periods was primarily the result of improvement in the forecast for key macroeconomic variables, most notably Baa corporate credit spread and Commercial Real Estate Price Index. Non-interest expenses increased by $35.8 million
62

Table of Contents

and $68.7 million, respectively, for the three and six months, ended June 30, 2025 compared to the same periods in 2024, primarily because of higher salary, commissions, and incentive compensation along with other segment expenses. The community banking segment’s net income for the quarter ended June 30, 2025 totaled $139.1 million, an increase of $47.9 million as compared to net income in the second quarter of 2024 of $91.2 million. On a year-to-date basis, the net income of the community banking segment for the six months ended June 30, 2025 totaled $273.4 million as compared to $211.3 million for the six months ended June 30, 2024.

The specialty finance segment’s net interest income totaled $92.3 million for the quarter ended June 30, 2025, compared to $95.2 million for the same period in 2024, a decrease of $2.9 million, or 3%. The decrease for the three month period was primarily due to a decline in yields on the premium finance receivable loan portfolio. On a year-to-date basis, net interest income for the segment increased $6.1 million, or 3%, compared to the same period in 2024.The increase for the six month period was primarily due to loan growth. The specialty finance segment’s provision for credit losses totaled $1.8 million and $3.3 million, respectively, for the three and six months ended June 30, 2025 compared to $3.7 million and $5.0 million, respectively, for the same periods in 2024 . The decrease in provision for credit losses for the three and six month periods was primarily the result of improvement in credit quality within premium finance receivables and to a lesser extent improvement in the forecast for the key macroeconomic variable Baa corporate credit spread, impacting lease financing. The specialty finance segment’s non-interest income increased to $33.5 million from $32.3 million for the three months ended June 30, 2025 and 2024, respectively, and stood at $64.6 million and $59.6 million for the six months ended June 30, 2025 and 2024, respectively. Non-interest expenses increased by $5.4 million and $8.1 million, respectively, for the three and six months, ended June 30, 2025 compared to the same periods in 2024, primarily because of higher employee benefits, commissions, and incentive compensation as well as other segment expenses. Our property and casualty insurance premium finance operations, life insurance finance operations, lease financing operations and accounts receivable finance operations accounted for 47%, 30%, 21% and 2%, respectively, of the net revenues of our specialty finance business for the six month period ended June 30, 2025. The net income of the specialty finance segment for the quarter ended June 30, 2025 totaled $48.8 million as compared to $53.1 million for the quarter ended June 30, 2024. On a year-to-date basis, the net income of the specialty finance segment for the six months ended June 30, 2025 totaled $99.1 million as compared to $95.6 million for the six months ended June 30, 2024.

The wealth management segment reported net interest income of $4.8 million for the second quarter of 2025 compared to $7.9 million in the same quarter of 2024, a decrease of $3.1 million. On a year-to-date basis, net interest income totaled $10.2 million for the first six months of 2025, as compared to $15.7 million for the first six months of 2024. Net interest income for this segment is primarily comprised of an allocation of the net interest income earned by the community banking segment on non-interest-bearing and interest-bearing wealth management customer account balances on deposit at the banks. Wealth management customer account balances on deposit at the banks averaged $1.1 billion and $1.5 billion in the first six months of 2025 and 2024, respectively. This segment recorded non-interest income of $39.5 million for the second quarter of 2025 compared to $35.6 million for the second quarter of 2024. The increase in the three month period was primarily due to higher wealth management revenue driven by an increase in asset valuations. On a year-to-date basis, this segment recorded non-interest income of $73.3 million for the first six months of 2025 as compared to $94.1 million for the first six months of 2024. The decrease in the six month period was primarily due a $20.0 million gain recognized in the first quarter of 2024 related to the sale of the Company’s RBA division within its wealth management business. Non-interest expenses increased by $1.8 million for the second quarter of 2025 compared to the same period in 2024, primarily because of higher salary, commissions and incentive compensation as well as other segment expenses. On a year-to-date basis, non-interest expense increased by $690,000 for the six month period ended June 30, 2025 compared to the same period in 2024, primarily due to other segment expenses. Distribution of wealth management services through each bank continues to be a focus of the Company. The Company is committed to growing the wealth management segment in order to better service its customers and create a more diversified revenue stream. The wealth management segment’s net income totaled $7.6 million for the second quarter of 2025 compared to $8.1 million for the second quarter of 2024. On a year-to-date basis, the wealth management segment’s net income totaled $12.1 million and $32.8 million for the six month period ended June 30, 2025, and 2024, respectively.

Financial Condition

Total assets were $69.0 billion at June 30, 2025, representing an increase of $9.2 billion, or 15%, when compared to June 30, 2024 and an increase of approximately $3.1 billion, or 19% on an annualized basis, when compared to March 31, 2025. Total funding, which includes deposits, all notes and advances, including secured borrowings and the junior subordinated debentures, was $60.1 billion at June 30, 2025, $57.8 billion at March 31, 2025, and $52.4 billion at June 30, 2024. See Notes (5), (6), (10), (11) and (12) of the Consolidated Financial Statements presented under Item 1 of this report for additional period-end detail on the Company’s interest-earning assets and funding liabilities.

63

Table of Contents

Interest-Earning Assets

The following table sets forth, by category, the composition of average earning asset balances and the relative percentage of total average earning assets for the periods presented:

Three Months Ended
June 30, 2025 March 31, 2025 June 30, 2024
(Dollars in thousands) Balance Percent Balance Percent Balance Percent
Mortgage loans held-for-sale $ 310,534   0   % $ 286,710  1  % $ 347,236  1  %
Loans, net of unearned income
Commercial $ 15,909,323   26   % $ 15,363,740  25  % $ 13,729,524  25  %
Commercial real estate
13,095,845   21   12,931,000  21  11,810,525  22 
Home equity
459,033   1   449,095  1  348,306  1 
Residential real estate
3,700,917   6   3,542,189  6  2,893,829  5 
Premium finance receivables—property & casualty 7,762,161   12   7,192,332  12  7,076,053  13 
Premium finance receivables—life insurance 8,455,443   14   8,248,690  14  7,880,205  15 
Other loans
134,913   0   106,334  0  80,912  0 
Total average loans (1)
$ 49,517,635   80   % $ 47,833,380  79  % $ 43,819,354  81  %
Liquidity management assets (2)
12,391,760   20   12,211,485  20  9,942,859  18 
Other earning assets (3)
—   0   13,140  0  15,257  0 
Total average earning assets
$ 62,219,929   100   % $ 60,344,715  100  % $ 54,124,706  100  %
Total average assets
$ 65,840,345   $ 64,107,042  $ 57,493,184 
Total average earning assets to total average assets 95   % 94  % 94  %

(1) Total average loans includes nonaccrual loans.
(2) Liquidity management assets include investment securities, other securities, interest earning deposits with banks, federal funds sold and securities purchased under resale agreements.
(3) Other earning assets include brokerage customer receivables and trading account securities.

Mortgage loans held-for-sale. Mortgage loans held-for-sale represents such loans awaiting subsequent sale in the secondary market with such sales eliminating the interest-rate risk associated with these loans, as they are predominantly long-term fixed rate loans, and provide a source of non-interest revenue. The increase in the average balance for the second quarter of 2025 as compared to the sequential period is primarily due to higher mortgage origination production, but decreased compared to the prior year period due to lower mortgage origination production.

Loans, net of unearned income. Growth realized in the combined commercial and commercial real estate loan categories for the second quarter of 2025 as compared to the sequential and prior year periods is primarily attributable to increased business development efforts. The aggregate balances of these loan categories comprised 59% in the second quarter of 2025 and first quarter of 2025 and 58% of the average loan portfolio in the second quarter of 2024.

Residential real estate loans averaged $3.7 billion in the second quarter of 2025, and increased $807.1 million, or 28%, from the average balance of $2.9 billion in the same period of 2024. Additionally, compared to the quarter ended March 31, 2025, the average balance increased $158.7 million, or 18% on an annualized basis. Growth is due to the Company continuing to originate non-agency mortgages that are held-for-investment.

The increase in the premium finance receivables during the second quarter of 2025 compared to the second quarter of 2024 was the result of effective marketing and customer servicing. Approximately $6.1 billion of premium finance receivables were originated in the second quarter of 2025 compared to $5.5 billion during the same period of 2024. Premium finance receivables consist of a property and casualty portfolio and a life portfolio comprising approximately 48% and 52%, respectively, of the average total balance of premium finance receivables for the second quarter of 2025, and 47% and 53%, respectively, for the second quarter of 2024.

Other loans represent a wide variety of personal and consumer loans to individuals. Consumer loans generally have shorter terms and higher interest rates than mortgage loans but generally involve more credit risk due to the type and nature of the collateral.
64

Table of Contents

Liquidity management assets. Funds that are not utilized for loan originations are used to purchase investment securities and short term money market investments, to sell as federal funds and to maintain in interest bearing deposits with banks. The balances of these assets can fluctuate based on management’s ongoing effort to manage liquidity and for asset liability management purposes. The Company will continue to prudently evaluate and utilize liquidity sources as needed, including the management of availability with the FHLB and FRB and utilization of the revolving credit facility with unaffiliated banks.

The following table sets forth, by category, the composition of average earning asset balances and the relative percentage of total average earning assets for the periods presented:

Six Months Ended
June 30, 2025 June 30, 2024
(Dollars in thousands) Balance Percent Balance Percent
Mortgage loans held-for-sale $ 298,688   0   % $ 318,756  1  %
Loans:
Commercial $ 15,638,040   26   % $ 13,316,638  25  %

Commercial real estate
13,013,877   21   11,658,787  22 
Home equity
454,091   1   346,083  1 
Residential real estate
3,621,991   6   2,812,384  5 
Premium finance receivables—property & casualty 7,478,821   12   6,915,466  13 
Premium finance receivables—life insurance 8,352,638   14   7,844,700  15 
Other loans
120,702   0   80,565  0 
Total average loans (1)
$ 48,680,160   80   % $ 42,974,623  81  %
Liquidity management assets (2)
12,302,121   20   9,888,817  18 
Other earning assets (3)
6,533   0   15,169  0 
Total average earning assets
$ 61,287,502   100   % $ 53,197,365  100  %
Total average assets
$ 64,978,481   $ 56,547,939 
Total average earning assets to total average assets 94   % 94  %

(1) Total average loans includes nonaccrual loans.
(2) Liquidity management assets include investment securities, other securities, interest earning deposits with banks, federal funds sold and securities purchased under resale agreements.
(3) Other earning assets include brokerage customer receivables and trading account securities.
65

Table of Contents

Maturities and Sensitivities of Loans to Changes in Interest Rates

The following table classifies the loan portfolio at June 30, 2025 by date at which the loans reprice or mature, and the type of rate exposure:

As of June 30, 2025 One year or less From one to five years From five to fifteen years After fifteen years
(In thousands) Total
Commercial
Fixed rate $ 429,173   $ 3,756,650   $ 2,117,493   $ 14,925   $ 6,318,241  

Variable rate 10,068,079   1,111   —   —   10,069,190  
Total commercial $ 10,497,252   $ 3,757,761   $ 2,117,493   $ 14,925   $ 16,387,431  
Commercial real estate
Fixed rate $ 712,348   $ 2,732,428   $ 369,615   $ 70,471   $ 3,884,862  
Variable rate 9,396,306   10,775   67   —   9,407,148  
Total commercial real estate $ 10,108,654   $ 2,743,203   $ 369,682   $ 70,471   $ 13,292,010  
Home equity
Fixed rate $ 9,626   $ 773   $ —   $ 15   $ 10,414  
Variable rate 456,401   —   —   —   456,401  
Total home equity $ 466,027   $ 773   $ —   $ 15   $ 466,815  
Residential real estate
Fixed rate $ 15,271   $ 4,318   $ 72,630   $ 1,056,508   $ 1,148,727  
Variable rate 108,431   699,875   1,991,749   —   2,800,055  
Total residential real estate $ 123,702   $ 704,193   $ 2,064,379   $ 1,056,508   $ 3,948,782  
Premium finance receivables - property & casualty
Fixed rate $ 8,220,850   $ 102,326   $ —   $ —   $ 8,323,176  
Variable rate —   —   —   —   —  
Total premium finance receivables - property & casualty $ 8,220,850   $ 102,326   $ —   $ —   $ 8,323,176  
Premium finance receivables - life insurance
Fixed rate $ 319,732   $ 169,958   $ 4,000   $ —   $ 493,690  
Variable rate 8,013,270   —   —   —   8,013,270  
Total premium finance receivables - life insurance $ 8,333,002   $ 169,958   $ 4,000   $ —   $ 8,506,960  
Consumer and other
Fixed rate $ 36,771   $ 8,483   $ 1,070   $ 859   $ 47,183  
Variable rate 69,322   —   —   —   69,322  
Total consumer and other $ 106,093   $ 8,483   $ 1,070   $ 859   $ 116,505  
Total per category
Fixed rate $ 9,743,771   $ 6,774,936   $ 2,564,808   $ 1,142,778   $ 20,226,293  

Variable rate 28,111,809   711,761   1,991,816   —   30,815,386  
Total loans, net of unearned income $ 37,855,580   $ 7,486,697   $ 4,556,624   $ 1,142,778   $ 51,041,679  
Less: Existing cash flow hedging derivatives (1)
(6,700,000)

Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity $ 31,155,580  

Variable Rate Loan Pricing by Index:
SOFR tenors (2)
$ 19,459,501  
12- month CMT (3)
6,906,397  
Prime 3,243,035  
Fed Funds 786,924  

Other U.S. Treasury tenors 187,736  

Other 231,793  
Total variable rate $ 30,815,386  

(1) Excludes cash flow hedges with future effective starting dates.
(2) SOFR - Secured Overnight Financing Rate.
(3) CMT - Constant Maturity Treasury Rate.

66

Table of Contents

CREDIT QUALITY

Commercial and Commercial Real Estate Loan Portfolios

Our commercial and commercial real estate loan portfolios are comprised primarily of lines of credit for working capital purposes and commercial real estate loans. The table below sets forth information regarding the types and amounts of our loans within these portfolios as of June 30, 2025 and 2024:

As of June 30, 2025 As of June 30, 2024
Allowance Allowance
% of For Credit % of For Credit
Total Losses Total Losses
(Dollars in thousands) Balance Balance Allocation Balance Balance Allocation

Commercial $ 16,387,431   55.2   % $ 194,568   $ 14,154,462  54.2  % $ 181,991 

Commercial Real Estate:
Construction and development $ 2,529,117   8.5   % $ 75,936   $ 2,260,551  8.7  % $ 93,154 

Non-construction 10,762,893   36.3   % 148,422   9,686,646  37.1  130,574 

Total commercial real estate $ 13,292,010   44.8   % $ 224,358   $ 11,947,197  45.8  % $ 223,728 
Total commercial and commercial real estate $ 29,679,441   100.0   % $ 418,926   $ 26,101,659  100.0  % $ 405,719 

Commercial real estate - primary collateral location by state:
Illinois $ 7,001,526   52.7   % $ 7,016,665  58.7  %
Wisconsin 919,166   6.9   869,574  7.3 
Michigan 900,850   6.8   269,745  2.3 
Total primary markets $ 8,821,542   66.4   % $ 8,155,984  68.3  %
Florida 448,561   3.4   395,168  3.3 
Indiana 443,852   3.3   391,477  3.3 
Texas 344,293   2.6   263,036  2.2 
Georgia 304,166   2.3   214,662  1.8 
Colorado 280,191   2.1   258,438  2.2 
California 268,561   2.0   255,720  2.1 
Tennessee 267,688   2.0   282,113  2.4 
Arizona 243,554   1.8   196,955  1.6 
Other 1,869,602   14.1   1,533,644  12.8 
Total commercial real estate $ 13,292,010   100.0   % $ 11,947,197  100.0  %

We make commercial loans for many purposes, including working capital lines, which are generally renewable annually and supported by business assets, personal guarantees and additional collateral. Such loans may vary in size based on customer need. As a result of growth and the macroeconomic uncertainty qualitative overlay in the Company’s commercial loan portfolio, our allowance for credit losses in our commercial loan portfolio increased to $194.6 million as of June 30, 2025 compared to $182.0 million as of June 30, 2024.

Our commercial real estate loans are generally secured by a first mortgage lien and assignment of rents on the property. Since most of our bank branches are located in the Chicago metropolitan area, southern Wisconsin and west Michigan, 66.4% of our commercial real estate loan portfolio is located in this region as of June 30, 2025. We have been able to effectively manage our total non-performing commercial real estate loans, aided by our credit management process. As of June 30, 2025, our allowance for credit losses related to this portfolio was $224.4 million compared to $223.7 million as of June 30, 2024 . The increase in the allowance for credit losses is primarily a result of growth in the portfolio, offset by improvement in the macroeconomic scenario related to CREPI. The table below sets forth the commercial real estate loans by property type and owner vs. non-owner occupied.

67

Table of Contents

(In thousands) June 30, 2025 June 30, 2024
Commercial Real Estate: Owner Occupied Non-Owner Occupied Total % of Total Average Size of Loan Owner Occupied Non-Owner Occupied Total % of Total Average Size of Loan
Residential construction $ 3,015  $ 56,012  $ 59,027  1  % $ 542  $ 3,319  $ 51,700  $ 55,019  1  % $ 1,038 
Commercial construction 189,770  1,975,493  2,165,263  16  5,410  163,287  1,703,414  1,866,701  16  4,549 
Land 6,024  298,803  304,827  2  1,772  6,856  331,975  338,831  3  2,041 
Office 299,422  1,301,786  1,601,208  12  1,468  267,188  1,318,124  1,585,312  13  1,516 
Industrial 970,307  1,854,582  2,824,889  21  1,902  858,781  1,448,674  2,307,455  19  1,748 
Retail 342,588  1,109,763  1,452,351  11  1,247  315,027  1,050,726  1,365,753  11  1,219 
Multi-family 99,071  3,101,507  3,200,578  24  1,387  106,762  2,882,178  2,988,940  25  1,275 
Mixed use and other 597,354  1,086,513  1,683,867  13  1,214  455,304  983,882  1,439,186  12  1,128 
Total commercial real estate $ 2,507,551   $ 10,784,459   $ 13,292,010   100   % $ 1,638  $ 2,176,524  $ 9,770,673  $ 11,947,197  100  % $ 1,545 

The Company also participates in mortgage warehouse lending, which is included above within commercial, industrial and other, by providing interim funding to unaffiliated mortgage bankers to finance residential mortgages originated by such bankers for sale into the secondary market. The Company’s loans to the mortgage bankers are secured by the business assets of the mortgage companies as well as the specific mortgage loans funded by the Company, after they have been pre-approved for purchase by third party end lenders. The Company may also provide interim financing for packages of mortgage loans on a bulk basis in circumstances where the mortgage bankers desire to competitively bid on a number of mortgages for sale as a package in the secondary market.

Past Due Loans and Non-Performing Assets

Our ability to manage credit risk depends in large part on our ability to properly identify and manage problem loans. To do so, the Company operates a credit risk rating system under which our credit management personnel assigns a credit risk rating to each loan at the time of origination and review loans on a regular basis to determine each loan’s credit risk rating on a scale of 1 through 10 with higher scores indicating higher risk. Description of the Company’s credit risk rating structure used is included in Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations of the 2024 Form 10-K.

If based on current information and events, it is probable that the Company will be unable to collect all amounts due to it according to the contractual terms of the loan agreement, a loan is individually assessed for measuring the allowance for credit losses and, if necessary, a reserve is established. In determining the appropriate reserve for collateral-dependent loans, the Company considers the results of appraisals for the associated collateral.

Loan Portfolio Aging

As of June 30, 2025, excluding early buy-out loans guaranteed by U.S. government agencies, $92.1 million, or 0.2% of all loans, were 60 to 89 days (or two payments) past due and $163.3 million, or 0.3% of all loans, were 30 to 59 days (or one payment) past due. As of March 31, 2025, excluding early buy-out loans guaranteed by U.S. government agencies, $55.0 million, or 0.1% of all loans, were 60 to 89 days (or two payments) past due and $293.3 million, or 0.6% of all loans, were 30 to 59 days (or one payment) past due. Many of the commercial and commercial real estate loans shown as 60 to 89 days and 30 to 59 days past due are included on the Company’s internal problem loan reporting system. Loans on this system are closely monitored by management on a monthly basis. The Company's home equity and residential loan portfolios continue to exhibit low delinquency ratios. Home equity loans at June 30, 2025 that were current with regard to the contractual terms of the loan agreement represent 99.0% of the total home equity portfolio. Residential real estate loans, excluding early buy-out loans guaranteed by U.S. government agencies, at June 30, 2025 that were current with regards to the contractual terms of the loan agreements comprise 99.0% of total residential real estate loans outstanding. For more information regarding delinquent loans as of June 30, 2025, see Note (7) “Allowance for Credit Losses” in Item 1 of this report.

68

Table of Contents

Non-performing Assets (1)

The following table sets forth the Company's non-performing assets performing under the contractual terms of the loan agreement as of the dates shown.

(Dollars in thousands) June 30,
2025 March 31,
2025 June 30,
2024
Loans past due greater than 90 days and still accruing:
Commercial $ —   $ 46  $ 304 
Commercial real estate —   —  — 
Home equity —   —  — 
Residential real estate —   —  — 
Premium finance receivables—property and casualty 14,350   18,081  22,427 
Premium finance receivables—life insurance 327   2,962  — 
Consumer and other 184   98  121 
Total loans past due greater than 90 days and still accruing 14,861   21,187  22,852 
Nonaccrual loans:
Commercial 80,877   70,560  51,087 
Commercial real estate 32,828   26,187  48,289 
Home equity 1,780   2,070  1,100 
Residential real estate 28,047   22,522  18,198 
Premium finance receivables—property and casualty 30,404   29,846  32,722 
Premium finance receivables—life insurance —   —  — 
Consumer and other 41   18  3 
Total nonaccrual loans 173,977   151,203  151,399 
Total non-performing loans:
Commercial 80,877   70,606  51,391 
Commercial real estate 32,828   26,187  48,289 
Home equity 1,780   2,070  1,100 
Residential real estate 28,047   22,522  18,198 
Premium finance receivables—property and casualty 44,754   47,927  55,149 
Premium finance receivables—life insurance 327   2,962  — 
Consumer and other 225   116  124 
Total non-performing loans $ 188,838   $ 172,390  $ 174,251 
Other real estate owned 23,615   22,625  19,731 

Total non-performing assets $ 212,453   $ 195,015  $ 193,982 
Total non-performing loans by category as a percent of its own respective category’s period-end balance:
Commercial 0.49   % 0.44  % 0.36  %
Commercial real estate 0.25   0.20  0.40 
Home equity 0.38   0.45  0.31 
Residential real estate 0.71   0.61  0.59 
Premium finance receivables—property and casualty 0.54   0.66  0.78 
Premium finance receivables—life insurance 0.00   0.04  — 
Consumer and other 0.19   0.10  0.14 
Total non-performing loans 0.37   % 0.35  % 0.39  %
Total non-performing assets, as a percentage of total assets 0.31   % 0.30  % 0.32  %
Total nonaccrual loans as a percentage of total loans 0.34   % 0.31  % 0.34  %
Allowance for credit losses as a percentage of nonaccrual loans 262.71   % 296.25  % 288.69  %

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

At this time, management believes reserves are appropriate to absorb losses that are expected upon the ultimate resolution of these credits. Significant increases may occur in subsequent periods due to ongoing macroeconomic uncertainty and related impacts on borrowers. Management will continue to actively review and monitor its loan portfolios, in an effort to identify problem credits in a timely manner.

69

Table of Contents

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

The table below presents a summary of non-performing loans for the periods presented:     
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
(In thousands) 2025 2024 2025 2024
Balance at beginning of period $ 172,390   $ 148,359  $ 170,823   $ 139,030 
Additions from becoming non-performing in the respective period 48,651   54,376  76,372   77,518 

Return to performing status (6,896) (912) (8,103) (1,402)
Payments received (5,602) (9,611) (21,567) (17,947)
Transfer to OREO and other repossessed assets (1,315) (6,945) (1,315) (8,326)
Charge-offs (11,734) (7,673) (20,334) (22,483)
Net change for premium finance receivables (6,656) (3,343) (7,038) 7,861 
Balance at end of period $ 188,838   $ 174,251  $ 188,838   $ 174,251 

Allowance for Credit Losses

The allowance for credit losses, specifically the allowance for loans losses and the allowance for unfunded commitment losses, represents management’s estimate of lifetime expected credit losses in the loan portfolio. The allowance for credit losses is determined quarterly using a methodology that incorporates important risk characteristics of each loan. A description of how the Company determines the allowance for credit losses is included in Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations of the 2024 Form 10-K.

Management determined that the allowance for credit losses was appropriate at June 30, 2025, and that the loan portfolio is well diversified and well secured, without undue concentration in any specific risk area. While this process involves a high degree of management judgment, the allowance for credit losses is based on a comprehensive, well documented, and consistently applied analysis of the Company’s loan portfolio. This analysis takes into consideration all available information existing as of the financial statement date, including environmental factors such as economic, industry, geographical and political factors, when considered applicable. The relative level of allowance for credit losses is reviewed and compared to industry peers. This review encompasses levels of total non-performing loans, portfolio mix, portfolio concentrations and overall levels of net charge-off. Historical trending of both the Company’s results and the industry peers is also reviewed to analyze comparative significance.

70

Table of Contents

Allowance for Credit Losses

The following table summarizes the activity in our allowance for credit losses, specifically related to loans and unfunded lending-related commitments, during the periods indicated.
 
Three Months Ended Six Months Ended
(Dollars in thousands) June 30,
2025 June 30,
2024 June 30,
2025 June 30,
2024
Allowance for credit losses at beginning of period $ 447,941   $ 427,175  $ 436,603   $ 427,265 

Provision for credit losses - other 22,282   39,899  46,256   61,590 

Other adjustments 180   (19) 184   (50)
Charge-offs:
Commercial 6,148   9,584  15,870   20,799 
Commercial real estate 5,711   15,526  6,165   20,995 
Home equity 111   —  111   74 
Residential real estate —   23  —   61 
Premium finance receivables - property & casualty 6,346   9,486  13,460   16,424 
Premium finance receivables - life insurance —   —  12   — 
Consumer and other 179   137  326   244 

Total charge-offs 18,495   34,756  35,944   58,597 
Recoveries:
Commercial 1,746   950  2,675   1,429 
Commercial real estate 10   90  22   121 
Home equity 30   35  246   64 
Residential real estate 2   8  138   10 
Premium finance receivables - property & casualty 3,335   3,658  6,822   5,177 
Premium finance receivables - life insurance —   5  —   13 
Consumer and other 32   24  61   47 

Total recoveries 5,155   4,770  9,964   6,861 
Net charge-offs (13,340) (29,986) (25,980) (51,736)
Allowance for credit losses at period end $ 457,063   $ 437,069  $ 457,063   $ 437,069 

Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
Commercial 0.11   % 0.25  % 0.17   % 0.29  %
Commercial real estate 0.17   0.53  0.10   0.36 
Home equity 0.07   (0.04) (0.06) 0.01 
Residential real estate (0.00) 0.00  (0.01) 0.00 
Premium finance receivables - property & casualty 0.16   0.33  0.18   0.33 
Premium finance receivables - life insurance —   (0.00) 0.00   (0.00)
Consumer and other 0.44   0.56  0.44   0.49 

Total loans, net of unearned income 0.11   % 0.28  % 0.11   % 0.24  %

Loans at period-end $ 51,041,679   $ 44,675,531 
Allowance for loan losses as a percentage of loans at period end 0.77   % 0.81  %
Allowance for loan and unfunded loan-related commitment losses as a percentage of loans at period end 0.90   0.98 

See Note (7) “Allowance for Credit Losses” of the Consolidated Financial Statements presented under Item 1 of this report for further discussion of activity within the allowance for credit losses during the period and the relationship with respective loan balances for each loan category and the total loan portfolio.

71

Table of Contents

Other Real Estate Owned

In certain circumstances, the Company is required to take action against the real estate collateral of specific loans. The Company uses foreclosure only as a last resort for dealing with borrowers experiencing financial hardships. The Company employs extensive contact and restructuring procedures to attempt to find other solutions for our borrowers. The tables below present a summary of other real estate owned and show the activity for the respective periods and the balance for each property type:

Three Months Ended Six Months Ended
(In thousands) June 30,
2025 June 30,
2024 June 30, 2025 June 30,
2024
Balance at beginning of period $ 22,625   $ 14,538  $ 23,116   $ 13,309 
Disposal/resolved —   (1,752) —   (1,752)
Transfers in at fair value, less costs to sell 1,315   6,945  1,315   8,381 

Fair value adjustments (325) —  (816) (207)
Balance at end of period $ 23,615   $ 19,731  $ 23,615   $ 19,731 

Period End
(In thousands) June 30,
2025 March 31,
2025 June 30,
2024
Residential real estate $ —   $ —  $ 161 

Commercial real estate 23,615   22,625  19,570 
Total $ 23,615   $ 22,625  $ 19,731 

Deposits

Total deposits at June 30, 2025 were $55.8 billion, an increase of $7.8 billion, or 16%, compared to total deposits at June 30, 2024. See Note (10) “Deposits” to the Consolidated Financial Statements in Item 1 of this report for a summary of period end deposit balances.

The following table sets forth, by category, the maturity of time certificates of deposit as of June 30, 2025:

Time Certificates of Deposit
Maturity/Re-pricing Analysis
As of June 30, 2025

(Dollars in thousands)
Total Time
Certificates of
Deposits Weighted-Average
Rate of Maturing
Time Certificates
of Deposit
1-3 months $ 2,486,694   3.92   %
4-6 months 4,464,126   3.80  
7-9 months 2,187,365   3.74  
10-12 months 771,114   3.64  
13-18 months 262,094   3.41  
19-24 months 99,689   2.92  
24+ months 61,614   2.36  
Total $ 10,332,696   3.78   %

72

Table of Contents

The following table sets forth, by category, the composition of average deposit balances and the relative percentage of total average deposits for the periods presented:

Three Months Ended
June 30, 2025 March 31, 2025 June 30, 2024
(Dollars in thousands) Balance Percent Balance Percent Balance Percent
Non-interest-bearing $ 10,643,798   20   % $ 10,732,156  21  % $ 9,879,134  21  %
NOW and interest-bearing demand deposits 6,423,050   12   6,046,189  11  4,985,306  11 
Wealth management deposits 1,552,989   3   1,574,480  3  1,531,865  3 
Money market 18,184,754   34   17,581,141  34  15,272,126  33 
Savings 6,578,698   12   6,479,444  13  5,878,844  13 
Time certificates of deposit 9,841,702   19   9,406,126  18  8,546,172  19 
Total average deposits $ 53,224,991   100   % $ 51,819,536  100  % $ 46,093,447  100  %

Total average deposits for the second quarter of 2025 were $53.2 billion, an increase of $7.1 billion, or 15%, from the second quarter of 2024. Total deposits increased in the second quarter of 2025 as compared to the second quarter of 2024 primarily as a result of the Company’s increased marketing efforts to retain and attract deposits to support continued loan growth and the Macatawa acquisition.

Wealth management deposits are funds from the brokerage customers of Wintrust Investments, CDEC and trust and asset management customers of the Company which have been placed into deposit accounts of the banks (“wealth management deposits” in the table above). Wealth Management deposits consist primarily of money market accounts. Consistent with reasonable interest rate risk parameters, these funds have generally been invested in loan production of the banks as well as other investments suitable for banks.

Brokered Deposits

While the Company obtains a portion of its total deposits through brokered deposits, the Company does so primarily as an asset-liability management tool to assist in the management of interest rate risk, and the Company does not consider brokered deposits to be a vital component of its current liquidity resources. Historically, brokered deposits have represented a small component of the Company’s total deposits outstanding, as set forth in the table below:

June 30, December 31,
(Dollars in thousands) 2025 2024 2024 2023 2022
Total deposits $ 55,816,811   $ 48,049,026  $ 52,512,349  $ 45,397,170  $ 42,902,544 
Brokered deposits 4,375,473   4,938,217  3,598,102  4,216,718  3,174,093 
Brokered deposits as a percentage of total deposits 7.8   % 10.3  % 6.9  % 9.3  % 7.4  %

Brokered deposits include certificates of deposit obtained through deposit brokers, deposits received through the Certificate of Deposit Account Registry Program, and certain deposits of brokerage customers from unaffiliated companies which have been placed into deposit accounts of the banks.

Other Funding Sources

Although deposits are the Company’s primary source of funding its interest-earning assets, the Company’s ability to manage the types and terms of deposits is somewhat limited by customer preferences and market competition. As a result, in addition to deposits and the issuance of equity securities and the retention of earnings, the Company uses several other funding sources to support its growth. These sources include FHLB advances, notes payable, short-term borrowings, secured borrowings, subordinated debt and junior subordinated debentures. The Company evaluates the terms and unique characteristics of each source, as well as its asset-liability management position, in determining the use of such funding sources.

73

Table of Contents

The following table sets forth, by category, the composition of the average balances of other funding sources for the quarterly periods presented:

Three Months Ended
June 30, March 31, June 30,
(In thousands) 2025 2025 2024
FHLB advances $ 3,151,310   $ 3,151,309  $ 3,096,920 
Other borrowings:
Notes payable
135,556   142,686  163,920 
Short-term borrowings —   23  799 
Secured borrowings 403,622   382,668  364,207 
Other 54,479   56,762  58,336 
Total other borrowings $ 593,657   $ 582,139  $ 587,262 
Subordinated notes 298,398   298,306  410,331 
Junior subordinated debentures 253,566   253,566  253,566 
Total other funding sources $ 4,296,931   $ 4,285,320  $ 4,348,079 

See Note (11) “FHLB Advances, Other Borrowings and Subordinated Notes” and Note (12) “Junior Subordinated Debentures” of the Consolidated Financial Statements presented under Item 1 of this report for details of period end balances and other information for these various funding sources. The Company hereby incorporates by reference Note (11) and Note (12) of the Consolidated Financial Statements presented under Item 1 of this report in its entirety.

Shareholders’ Equity

The following tables reflect various consolidated measures of capital as of the dates presented and the capital guidelines established for a bank holding company:

June 30,
   2025 (2)
March 31,
2025 June 30,
2024
Tier 1 leverage ratio 10.2   % 9.6  % 9.3  %
Risk-based capital ratios:
Tier 1 capital ratio 11.5   10.8  10.3 
Common equity tier 1 capital ratio 10.0   10.1  9.5 
Total capital ratio 13.0   12.5  12.1 
Other ratio:
Total average equity-to-total average assets (1)
10.4   10.1  9.5 

(1) Based on quarterly average balances.
(2) June 30, 2025 capital ratios impacted by issuance of Preferred Stock Series F.

Minimum
Capital
Requirements Minimum Ratio + Capital Conservation Buffer (1)
Minimum Well
Capitalized (2)

Tier 1 leverage ratio 4.0  % N/A N/A
Risk-based capital ratios:
Tier 1 capital ratio 6.0  8.5  6.0 
Common equity tier 1 capital ratio 4.5  7.0  N/A
Total capital ratio 8.0  10.5  10.0 

(1) Reflects the Capital Conservation Buffer of 2.5%.
(2) Reflects the well-capitalized standard applicable to the Company for purposes of the Federal Reserve’s Regulation Y. The Federal Reserve has not yet revised the well-capitalized standard for bank holding companies (“BHCs”) to reflect the higher capital requirements imposed under the U.S. Basel III Rule or to add Common Equity Tier 1 capital ratio and Tier 1 leverage ratio requirements to this standard. As a result, the Common Equity Tier 1 capital ratio and Tier 1 leverage ratio are denoted as “N/A” in this column. If the Federal Reserve were to apply the same or a very similar well-capitalized
74

Table of Contents

standard to BHCs as the standard applicable to our subsidiary banks, we believe the Company’s capital ratios as of June 30, 2025 would exceed such revised well-capitalized standard.

The Company’s principal sources of funds at the holding company level are dividends from its subsidiaries, borrowings under its loan agreement with unaffiliated banks and proceeds from the issuances of subordinated debt and additional equity. Refer to Notes (11) and (12) of the Consolidated Financial Statements in Item 1 for further information on these various funding sources. See Note (23) “Shareholders’ Equity” of the Consolidated Financial Statements presented under Item 7 of the 2024 Form 10-K for details on the Company’s issuance of Series D Preferred Stock in June 2015, Series E Preferred Stock and associated Depositary Shares in May 2020, and additional common stock offering in June 2022. See Note (18) “Subsequent Events” for additional information related to the redemption of the Series D Preferred Stock and E Preferred Stock.

In May 2025, the Company issued 17,000 shares of fixed-rate reset non-cumulative perpetual preferred stock, Series F, liquidation preference $25,000 per share (the “Series F Preferred Stock”) as part of a $425 million public offering of 17,000,000 depository shares, each representing a 1/1000th interest in a share of Series F Preferred Stock. When, as and if declared, dividends on the Series F Preferred Stock are payable quarterly in arrears at a fixed rate of 7.875% per annum starting October 15, 2025. The redemption of the Series D Preferred Stock and Series E Preferred Stock in July 2025 was funded with a portion of the net proceeds from the issuance of the Series F Preferred Stock.

The Board of Directors approves dividends from time to time, however, the ability to declare a dividend is limited by the Company’s financial condition, the terms of the Company’s Preferred Stock, the terms of the Company’s Trust Preferred Securities offerings and under certain financial covenants in the Company’s revolving and term facilities. In January and April of 2025, the Company declared a quarterly cash dividend of $0.50 per common share. In January, April, July and October of 2024, the Company declared a quarterly cash dividend of $0.45 per common share.

At the July 2025 meeting of the Board of Directors, a quarterly cash dividend of $0.50 per common share ($2.00 on an annualized basis) was declared. It is payable on August 21, 2025 to shareholders of record as of August 7, 2025.

Per GAAP, prior issuance costs from Series D Preferred Stock and Series E Preferred Stock will be reclassified, upon redemption, from capital surplus and recognized through retained earnings. These amounts do not impact operating net income but will be considered as a reduction to net income available to common shareholders and will impact earnings per share calculations. The following table represents the Series F Preferred Stock offering and Series D and Series E Preferred Stock redemption estimated impact on diluted EPS:

Three Months Ended
(Dollars and shares in thousands, except per share data) June 30, 2025 September 30, 2025 December 31, 2025
Series D and Series E Preferred Stock Quarterly Dividend $ (6,991) $ —  $ — 
Series F Preferred Stock First Dividend (1)
—   (13,295) — 
Series F Preferred Stock Regular Quarterly Dividend (2)
—   —  (8,367)
Series D Preferred Stock Issuance Costs (non-recurring) —   (4,158) — 
Series E Preferred Stock Issuance Costs (non-recurring) —   (9,887) — 
Total Impact $ (6,991) $ (27,340) $ (8,367)
Average diluted common shares (3)
67,819   67,819  67,819 
Diluted EPS Impact $ (0.10) $ (0.40) $ (0.12)

(1) Series F Preferred Stock First Dividend covers the time period May 22, 2025 to October 15, 2025 and was declared by the Board of Directors in July 2025.
(2) Series F Preferred Stock Quarterly Dividend amount, if declared by the Board of Directors.
(3) Average diluted common shares held constant at September 30, 2025 and December 31, 2025 for illustrative purposes.

The Company continues to leverage its capital management framework to assess and monitor risk when making capital decisions. Management is committed to maintaining the Company’s capital levels above the “Well Capitalized” levels established by the FRB for bank holding companies.

LIQUIDITY

The Company manages the liquidity position of its banking operations to ensure that sufficient funds are available to meet customers’ needs for loans and deposit withdrawals. The management process includes the utilization of stress testing processes
75

Table of Contents

and other aspects of the Company's liquidity management framework to assess and monitor risk, and inform decision making. The liquidity to meet the demands of customers is provided by maturing assets, liquid assets that can be converted to cash and the ability to attract funds from external sources. Liquid assets refer to money market assets such as Federal funds sold and interest-bearing deposits with banks, as well as available-for-sale debt securities and equity securities with readily determinable fair values which are not pledged to secure public funds. In addition, trade date receivables represent certain sales or calls of available-for-sale securities that await cash settlement, typically in the month following the trade date.

We maintain our liquid assets to ensure that we would have the balance sheet strength to serve our clients. As a result, the Company believes that it has sufficient funds and access to funds to effectively meet its working capital and other needs. The Company will continue to prudently evaluate liquidity sources, including the management of availability with the FHLB and FRB and utilization of the revolving credit facility with unaffiliated banks. Please refer to Management’s Discussion and Analysis of Financial Condition and Results of Operation -Interest-Earning Assets, -Deposits, -Other Funding Sources and -Shareholders’ Equity sections of this report for additional information regarding the Company’s liquidity position.

INFLATION

A banking organization’s assets and liabilities are primarily monetary. Changes in the rate of inflation typically do not have as great an impact on the financial condition of a bank as do changes in interest rates. Moreover, interest rates do not necessarily change at the same percentage as inflation. Accordingly, changes in inflation are not expected to have as material an impact on the Company’s business as entities operating in other industries. An analysis of the Company’s asset and liability structure provides the best indication of how the organization is positioned to respond to changing interest rates. See “Quantitative and Qualitative Disclosures About Market Risk” section of this report for additional information.

FORWARD-LOOKING STATEMENTS

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 2024 Annual Report on Form 10-K and in any of the Company’s subsequent SEC 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, 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 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;
76

Table of Contents

• 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
77

Table of Contents

• 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 these forward-looking statements. 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 this report. 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.

ITEM 3
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

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. This effort entails providing a reasonable balance between interest rate risk, credit risk, liquidity risk and maintenance of yield. Asset-liability management policies are established and monitored by management in conjunction with the boards of directors of the banks, subject to general oversight by the Risk Management Committee of the Company’s Board. The policies establish guidelines for acceptable limits on the sensitivity of the market value of assets and liabilities to changes in interest rates.

Interest rate risk arises when the maturity or re-pricing periods and interest rate indices of the interest-earning assets, interest-bearing liabilities, and derivative financial instruments are different. It is the risk that changes in the level of market interest rates will result in disproportionate changes in the value of, and the net earnings generated from, the Company’s interest-earning assets, interest-bearing liabilities and derivative financial instruments. The Company continuously monitors not only the organization’s current net interest margin, but also the historical trends of these margins. In addition, management attempts to identify potential adverse changes in net interest income in future years as a result of interest rate fluctuations by performing simulation analysis of various interest rate environments. If a potential adverse change in net interest margin and/or net income is identified, management is prepared to take appropriate action with its asset-liability structure to mitigate these potentially adverse situations. Please refer to Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for further discussion of the net interest margin.

Since the Company’s primary source of interest-bearing liabilities is from customer deposits, the Company’s ability to manage the types and terms of such deposits is somewhat limited by customer preferences and local competition in the market areas in which the banks operate. The rates, terms and interest rate indices of the Company’s interest-earning assets result primarily from the Company’s strategy of investing in loans and securities that permit the Company to limit its exposure to interest rate risk, together with credit risk, while at the same time achieving an acceptable interest rate spread.

The Company’s exposure to interest rate risk is reviewed on a regular basis by management and the Risk Management Committees of the boards of directors of the banks and the Company. The objective of the review is to measure the effect on net income and to adjust balance sheet and derivative financial instruments to minimize the inherent risk while at the same time maximize net interest income.

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 Scenarios at June 30, 2025, March 31, 2025 and June 30, 2024 is as follows:

Static Shock Scenarios +200
Basis
Points +100
Basis
Points -100
Basis
Points -200
Basis
Points
June 30, 2025 (1.5) % (0.4) % (0.2) % (1.2) %
March 31, 2025 (1.8) (0.6) (0.2) (1.2) %
June 30, 2024 1.5  1.0  0.6  (0.0) %

78

Table of Contents

Ramp Scenarios +200
Basis
Points +100
Basis
Points -100
Basis
Points -200
Basis
Points
June 30, 2025 0.0   % 0.0   % (0.1) % (0.4) %
March 31, 2025 0.2  0.2  (0.1) (0.5) %
June 30, 2024 1.2  1.0  0.9  1.0  %

One method utilized by financial institutions, including the Company, to manage interest rate risk is to enter into derivative financial instruments. Derivative financial instruments include interest rate swaps, interest rate caps, floors and collars, futures, forwards, option contracts and other financial instruments with similar characteristics. Additionally, the Company enters into commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third party investors. See Note (14) “Derivative Financial Instruments” of the Consolidated Financial Statements in Item 1 of this report for further information on the Company’s derivative financial instruments.

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. As the current interest rate cycle progressed, management took action to reposition its sensitivity to interest rates. To this end, management has executed various derivative instruments including collars 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.

Periodically, the Company enters into certain covered call option transactions related to certain securities held by the Company. The Company uses these option transactions (rather than entering into other derivative interest rate contracts, such as interest rate floors) to economically hedge positions and compensate for net interest margin compression by increasing the total return associated with the related securities through fees generated from these options. Although the revenue received from these options is recorded as non-interest income rather than interest income, the increased return attributable to the related securities from these options contributes to the Company’s overall profitability. The Company’s exposure to interest rate risk may be impacted by these transactions. To further mitigate this risk, the Company may acquire fixed rate term debt or use financial derivative instruments. There were no covered call options outstanding as of June 30, 2025 and June 30, 2024. See Note (14) “Derivative Financial Instruments” of the Consolidated Financial Statements in Item 1 of this report for further information on the Company’s fees from covered call options for the six months ended June 30, 2025 and June 30, 2024.

ITEM 4
CONTROLS AND PROCEDURES

As of the end of the period covered by this report, management of the Company, under the supervision and with the participation of the Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as defined under Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (“Exchange Act”). Based upon, and as of the date of that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective, in ensuring the information relating to the Company (and its consolidated subsidiaries) required to be disclosed by the Company in the reports it files or submits under the Exchange Act was recorded, processed, summarized and reported in a timely manner.

There were no changes in the Company’s internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)) during the period that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

PART II —

79

Table of Contents

Item 1: Legal Proceedings

In accordance with applicable accounting principles, the Company establishes an accrued liability for litigation and threatened litigation actions and proceedings when those actions present loss contingencies, which are both probable and estimable. In actions for which a loss is reasonably possible in future periods, the Company determines whether it can estimate a loss or range of possible loss. To determine whether a possible loss is estimable, the Company reviews and evaluates its material litigation on an ongoing basis, in conjunction with any outside counsel handling the matter, in light of potentially relevant factual and legal developments. This review may include information learned through the discovery process, rulings on substantive or dispositive motions, and settlement discussions.

Wintrust Mortgage California PAGA Matter

On May 24, 2022, a former Wintrust Mortgage employee filed a California Private Attorney General Act (“PAGA”) suit, not individually, but as representative of all Wintrust Mortgage’s California hourly employees, against Wintrust Mortgage in the Superior Court of San Diego County, California. Plaintiff alleges Wintrust Mortgage failed to provide: (i) accurate sick leave accrual and pay; (ii) overtime wages; (iii) accurately itemized wage statements; (iv) meal breaks and meal premiums; (v) timely payment of earned wages; (vi) payment of all earned wages; and (vii) payment of all vested vacation hours. Wintrust Mortgage disputes the validity of Plaintiff’s claims and believes, to the extent there were defects in complying with California law governing the payment of compensation to Plaintiff, such errors would have been de minimis. Plaintiff also has an arbitration agreement with a collective and class action waiver and on January 19, 2023, Wintrust Mortgage moved to compel arbitration. The court stayed litigation pending mediation, which was held on May 13, 2024. The parties agreed to settle the dispute for an immaterial amount. On October 16, 2024, the court entered an order approving the settlement and on December 31, 2024, the funds were disbursed to the settlement administrator.

Wintrust Mortgage Fair Lending Matter

On May 25, 2022, a Wintrust Mortgage customer filed a putative class action and asserted individual claims against Wintrust Mortgage and Wintrust Financial Corporation in the District Court for the Northern District of Illinois. Plaintiff alleges that Wintrust Mortgage discriminated against black/African American borrowers and brings class claims under the Equal Credit Opportunity Act, Sections 1981 and 1982 under Chapter 42 of the United States Code; and the Fair Housing Act of 1968. Plaintiff also asserts individual claims under theories of promissory estoppel, fraudulent inducement, and breach of contract. On September 23, 2022, Wintrust filed a motion to dismiss the entire suit and the court granted that motion to dismiss on September 27, 2023 and gave Plaintiff until October 20, 2023 to file an amended complaint. Plaintiff timely filed an amended complaint. Wintrust moved to dismiss the amended complaint on November 21, 2023. Wintrust vigorously disputes these allegations, and Wintrust otherwise lacks sufficient information to estimate the amount of any potential liability.

Other Matters

In addition, the Company and its subsidiaries, from time to time, are subject to pending and threatened legal action and proceedings arising in the ordinary course of business.

Based on information currently available and upon consultation with counsel, management believes that the eventual outcome of any pending or threatened legal actions and proceedings described above, including our ordinary course litigation, will not have a material adverse effect on the operations or financial condition of the Company. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the results of operations or financial condition for a particular period.

Item 1A: Risk Factors

There have been no material changes from the risk factors set forth under Part I, Item 1A “Risk Factors” in the 2024 Form 10-K.

Item 2: Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

No purchases of the Company’s common shares were made by or on behalf of the Company or any “affiliated purchaser” as defined in Rule 10b-18(a)(3) under the Exchange Act, as amended, during the six months ended June 30, 2025.

80

Table of Contents

Item 5: Other Information

Securities Trading Plans of Directors and Officers

During the three months ended June 30, 2025 , none of our directors or officers adopted or terminated a Rule 10b5-1 trading plan or adopted or terminated a non-Rule 10b5-1 trading arrangement (as each term is defined in Item 408(a) of Regulation S-K under the Exchange Act).

Item 6: Exhibits:

(a) Exhibits

3.1
Certificate of Designation of Wintrust Financial Corporation filed on May 9, 2025 with the Secretary of the State of Illinois designating the preferences, limitation, voting powers and relative rights of the Series F Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 14, 2025).

3.2
Statement of Resolution of the Board or Directors of Wintrust Financial Corporation Regarding the Series D Preferred Stock (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 16, 2025).

3.3
Statement of Resolution of the Board or Directors of Wintrust Financial Corporation Regarding the Series E Preferred Stock (incorporated by reference to Exhibit 3.2 of the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 16, 2025).

4.1
Deposit Agreement, dated as of May 22, 2025, among Wintrust Financial Corporation, U.S. Bank Trust Company, National Association, as Depositary, and the holders from time to time of the Depositary Receipts issued thereunder (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 22, 2025).

4.2
Form of Depositary Receipt (included as Exhibit A to Exhibit 4.1 hereto) .

10.1
Wintrust Financial Corporation 2025 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 23, 2025).

31.1
Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1
Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS The XBRL Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document (1)

101.SCH XBRL Taxonomy Extension Schema Document

101.CAL XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB XBRL Taxonomy Extension Label Linkbase Document

101.PRE XBRL Taxonomy Extension Presentation Linkbase Document

101.DEF XBRL Taxonomy Extension Definition Linkbase Document

104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

(1) Includes the following financial information included in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) the Consolidated Statements of Condition, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Changes in Shareholders’ Equity, (v) the Consolidated Statements of Cash Flows, and (vi) Notes to Consolidated Financial Statements
81

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

WINTRUST FINANCIAL CORPORATION
(Registrant)

Date: August 6, 2025 /s/ DAVID L. STOEHR
David L. Stoehr
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer and duly authorized officer)

Date: August 6, 2025 /s/ JEFFREY D. HAHNFELD

Jeffrey D. Hahnfeld
Executive Vice President, Controller and
Chief Accounting Officer
(Principal Accounting Officer and duly authorized officer)

82