Wintrust Financial Q4 Profit Rises - Quick Facts

(RTTNews) - Wintrust Financial Corp. (WTFC) reported that its fourth-quarter net income to common shares increased to $33.71 million or $0.70 per share from $27.47 million or $0.61 per share, last year.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Net interest income totaled $142.3 million, an increase of $9.5 million as compared to the fourth quarter of 2012. Non-interest income totaled $46.4 million, decreasing $18.8 million, from the fourth quarter of 2012. Analysts expected revenue of $196.07 million for the quarter.

Edward Wehmer, President and CEO said, "The fourth quarter of 2013 was highlighted by improvement in non-performing asset levels, continued loan growth, relatively stable net interest margin, the acquisition of Diamond Bancorp and the acquisition of certain assets and liabilities of Surety Financial Services. The company's non-performing loans decreased to the lowest level since the second quarter of 2008. The decrease was due both to a decline in the volume of new non-performing assets as well as the continued reduction in existing non-performing assets through the efforts of our credit workout teams. As a result of improving credit quality, the company recorded a lower provision for loan losses in the fourth quarter and we believe that the Company's reserves remain appropriate."