WTFCP - Wintrust Financial Corporation (WTFC) Q1 2025 Earnings Call Transcript

2025-04-22 14:01:05 ET

Wintrust Financial Corporation (WTFC)

Q1 2025 Earnings Conference Call

April 22, 2025 10:00 AM ET

Company Participants

Tim Crane - President and CEO

David Dykstra - Vice Chairman and Chief Operating Officer

Richard Murphy - Vice Chairman and Chief Lending Officer

Dave Stoehr - CFO

Kate Boege - Chief Legal Officer

Conference Call Participants

Jon Arfstrom - RBC Capital Markets

Nathan Race - Piper Sandler

Jared Shaw - Barclays

Andrew Leischner - KBW

Presentation

Operator

Welcome to Wintrust Financial Corporation's First Quarter 2025 Earnings Conference Call. A review of the results will be made by Tim Crane, President and Chief Executive Officer; David Dykstra, Vice Chairman and Chief Operating Officer; and Richard Murphy, Vice Chairman and Chief Lending Officer. As part of their reviews, the presenters may make reference to both the earnings press release and the earnings release presentation. Following their presentations, there will be a formal question-and-answer session. During the course of today's call, Wintrust management may make statements that constitute projections, expectations, beliefs or similar forward-looking statements. Actual results could differ materially from the results anticipated or projected in any such forward-looking statements. The company's forward-looking assumptions that could cause the actual results to differ materially from the information discussed during this call are detailed in our earnings press release and in the company's most recent Form 10-K and any subsequent filings with the SEC. Also, our remarks may reference certain non-GAAP financial measures. Our earnings press release and earnings release presentation include a reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure. As a reminder, this conference call is being recorded. I will now turn the conference over to Mr. Tim Crane.

Tim Crane

Latif, thank you. Good morning, everyone. And thank you for joining us for the Wintrust Financial first quarter earnings call. In addition to the introductions Latif made, I'm joined by Dave Stoehr, our Chief Financial Officer; and Kate Boege, our Chief Legal Officer. In terms of the agenda, I'll share some high level highlights, Dave Dykstra will speak to the financial results, and Rich will add some additional information on credit performance and loan activity. I'll be back up -- I'll be back to wrap up with some summary thoughts and of course, we'll do our best to answer some questions at the end. Let me start with, this was a very clean and straightforward quarter. We reported quarterly net income of $189 million and record net interest income of $526 million despite two fewer business days in the first quarter compared to the prior period. These results were in line with our expectations with several positive and encouraging underlying elements. For the quarter, we grew loans by over $650 million and deposits by over $1.1 billion. We continue to gain share in the market, adding meaningful new client and household relationships. The net interest margin of 3.56% was 5 basis points higher than the fourth quarter result, reflecting disciplined loan and deposit pricing....

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