Wintrust Financial Q2 Profit Tops View - Quick Facts

(RTTNews) - Wintrust Financial Corp. (WTFC) reported second-quarter net income applicable to common shares of $34.27 million or $0.69 per share, compared to $22.95 million or $0.52 per share in the comparable quarter last year. On average, thirteen analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share. Analysts' estimates typically exclude special items.

Net revenue was $199.82 million, up from $179.21 million last year, while twelve analysts had consensus revenue estimate of $184.01 million for the quarter.

The company's total assets of $17.6 billion at June 30, 2013 increased $1.0 billion from June 30, 2012. Total deposits as of June 30, 2013 were $14.4 billion, an increase of $1.3 billion from June 30, 2012. Non-interest bearing deposits increased by $403 million, or 20%, since June 30, 2012, primarily due to demand deposits from new relationships generated by the Company's commercial lending initiative. NOW, wealth management, money market and savings deposits increased $1.5 billion, or 26%, during the same time period.

Total loans, excluding covered loans and loans held for sale, were $12.5 billion as of June 30, 2013, an increase of $1.3 billion, or 12%, over June 30, 2012.