WTFC - Wintrust Financial GAAP EPS of $2.38 misses by $0.01 revenue of $560.57M beats by $3.05M

2023-07-20 01:55:01 ET

• Wintrust Financial press release ( NASDAQ: WTFC ): Q2 GAAP EPS of $2.38 misses by $0.01 .
• Pre-tax, pre-provision income totaled $239.9 million as compared to $266.6 million for the first quarter of 2023.
• Revenue of $560.57 million (+27.2% Y/Y) beats by $3.05 million .
• Provision for credit losses totaled $28.5 million in the second quarter of 2023 as compared to a provision for credit losses of $23.0 million in the first quarter of 2023.
• Total loans as of June 30, 2023 were $917 million higher than average total loans in the second quarter of 2023, which is expected to benefit the third quarter.
• The allowance for credit losses totaled $387.8 million as of June 30, 2023, an increase of $11.5 million as compared to $376.3 million as of March 31, 2023.
• The effective tax rates were 26.81% in the second quarter of 2023 compared to 26.01% in the first quarter of 2023.

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