Profile: Wintrust Financial Corp (WTFC.O)
21 Aug 2019
Wintrust Financial Corporation, incorporated on December 30, 1992, is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. As of December 31, 2016, the Company provided community-oriented, personal and commercial banking services to customers located in the Chicago metropolitan area and in southeastern Wisconsin through its 15 banking subsidiaries (the banks), as well as the origination and purchase of residential mortgages for sale into the secondary market through Wintrust Mortgage, a division of Barrington Bank and Trust Company, N.A. (Barrington Bank).
The Company provides specialty finance services, including financing for the payment of commercial insurance premiums and life insurance premiums on a national basis through its subsidiary, First Insurance Funding Corporation (FIFC) and in Canada through its premium finance company, First Insurance Funding of Canada (FIFC Canada), lease financing and other direct leasing opportunities through its subsidiary, Wintrust Asset Finance, and short-term accounts receivable financing and outsourced administrative services through its subsidiary, Tricom, Inc. of Milwaukee (Tricom). The Company provides wealth management services to customers in its market area through its subsidiaries, The Chicago Trust Company, N.A. (CTC), Wayne Hummer Investments, LLC (WHI) and Great Lakes Advisors, LLC (Great Lakes Advisors).
The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients. The Company offers MaxSafe deposit accounts, which provide customers with expanded Federal Deposit Insurance Corporation (FDIC) insurance coverage by spreading a customer's deposit across its banks. It also offers home equity, consumer and real estate loans, safe deposit facilities, automated teller machines (ATMs), Internet banking and other traditional services. It also engages in the retail origination and correspondent purchase of residential mortgages through Wintrust Mortgage.
The Company also offers various lending products through several of its banks. These include Barrington Bank's Community Advantage program, which provides lending, deposit and cash management services to condominium, homeowner and community associations; Hinsdale Bank's mortgage warehouse lending program, which provides loan and deposit services to mortgage brokerage companies located predominantly in the Chicago metropolitan area, and Lake Forest Bank's franchise lending program, which provides lending to restaurant franchisees. Its Wintrust Commercial Finance offers direct leasing opportunities; Wintrust Business Credit specializes in asset-based lending for middle-market companies; Wintrust Commercial Real Estate concentrates on real estate lending solutions including commercial mortgages and construction loans, and Wintrust Government, Non-Profit and Hospital, focuses on financial solutions for mission-based organizations such as hospitals, non-profits, educational institutions and local government operations.
Through specialty finance segment, the Company offers financing of insurance premiums for businesses and individuals; accounts receivable financing, value-added, out-sourced administrative services, and other specialty finance businesses. The Company conducts specialty finance businesses through non-bank subsidiaries. Its subsidiary, FIFC, engages in the premium finance receivables business. It also engages in commercial insurance premium finance in Canada through its subsidiary, FIFC Canada.
FIFC also finances life insurance policy premiums generally used for estate planning purposes of high net-worth borrowers. These loans are originated directly with the borrowers with assistance from life insurance carriers, independent insurance agents, financial advisors and legal counsel. Premium finance loans made by FIFC and FIFC Canada are primarily secured by the insurance policies financed by the loans. Through its subsidiary, Wintrust Asset Finance, the Company provides equipment financing through structured loan and lease products to customers in a range of industries throughout the United States. Wintrust Asset Finance provides financing of fixed assets consisting of property, plant and equipment, transportation (trucks, trailers, rail, marine, buses), construction, manufacturing equipment, technology, oil and gas, restaurant equipment, medical and healthcare. Through its subsidiary, Tricom, the Company provides short-term accounts receivable financing and value-added, outsourced administrative services, such as data processing of payrolls, billing and cash management services to the temporary staffing industry.
Wealth Management Activities
The Company offers a range of wealth management services through its subsidiaries, including trust and investment services, asset management and securities brokerage services. Great Lakes Advisors, its registered investment advisor, provides money management services and advisory services to individuals, mutual funds and institutional municipal and tax-exempt organizations. Great Lakes Advisors also provides portfolio management and financial supervision for a range of pension and profit-sharing plans, as well as money management and advisory services to CTC. CTC offers trust and investment management services to clients through offices located in downtown Chicago and at various banking offices of its banks. WHI, the Company's registered broker or dealer subsidiary, provides a range of private client and securities brokerage services to clients located primarily in the Midwest. WHI also provides a range of investment services to clients through a network of relationships with community-based financial institutions located in Illinois.
Wintrust Financial Corp
9700 W Higgins Rd Fl 8
ROSEMONT IL 60018-4796