Wintrust earnings reached a record $239.1 million, or $3.37 per diluted common share, in the third quarter of 2026 as balance-sheet growth lifted net interest income. The results, announced October 19, compared with net income of $233.7 million in the preceding quarter and $216.3 million a year earlier.
Key Takeaways
- Third-quarter net income rose 11% year over year, extending a seven-quarter streak of record profit.
- A larger earning-asset base increased net interest income despite a slightly narrower margin.
- Credit-loss provisions and charge-offs rose, while non-performing loan balances edged lower.
Table of Contents
- Wintrust earnings rise on balance-sheet growth
- Loans and deposits expand as margin holds nearly steady
- Higher charge-offs accompany lower problem-loan balances
- Lower fee income and higher expenses limit the gain
- Conclusion
Wintrust earnings rise on balance-sheet growth
For the first nine months of 2026, net income totaled $700.1 million, up 17% from $600.8 million in the corresponding 2025 period. Diluted earnings per share increased to $9.89 from $8.25.
Wintrust’s third-quarter earnings presentation shows quarterly pre-tax income excluding the provision for credit losses, a non-GAAP measure, reaching $352.2 million from $341.1 million in the second quarter. President and Chief Executive Timothy S. Crane said the quarter marked the company’s seventh consecutive quarterly net income record.
Net interest income increased by $24.2 million sequentially to $621.6 million. Wintrust attributed the improvement to a $2.1 billion increase in average earning assets, rather than a wider interest margin.
| Item | Details |
|---|---|
| Total assets | $75.97 billion at September 30, 2026. |
| Total loans | $56.80 billion at quarter-end, excluding mortgage loans held for sale. |
| Total deposits | $62.44 billion at quarter-end. |
| Loans-to-deposits ratio | 91.0% at September 30, 2026. |
| Non-interest-bearing deposits | 19% of total deposits at quarter-end. |
Loans and deposits expand as margin holds nearly steady
Loans increased approximately $1.1 billion during the quarter, with growth across all major loan portfolios. Deposits increased approximately $1.3 billion. Both represented an 8% annualized growth rate, not an 8% increase over the three-month period.
Net interest margin was 3.49% under GAAP and 3.51% on a fully taxable-equivalent, non-GAAP basis. Both measures declined one basis point from the second quarter, and management said the margin remained within its expected range.
Loan yields and the cost of interest-bearing deposits each declined one basis point sequentially. The combination of a nearly unchanged margin and higher net interest income shows how expanding asset balances supported the quarter’s earnings.
Higher charge-offs accompany lower problem-loan balances
The provision for credit losses increased to $25.9 million from $23.1 million in the second quarter. Net charge-offs rose to $21.0 million from $13.4 million, equivalent to an annualized 15 basis points of average loans versus 10 basis points previously.
Non-performing loans nevertheless declined to $176.9 million, or 0.31% of total loans, at September 30, from $179.3 million, or 0.32%, at June 30. The allowance for credit losses increased to $486.1 million from $481.2 million.
Wintrust said the provision reflected portfolio growth, stable credit quality and a mostly stable macroeconomic forecast. Management considered the allowance appropriate but cautioned that future losses could exceed the amounts provided.
Lower fee income and higher expenses limit the gain
Non-interest income fell to $136.3 million from $141.3 million in the second quarter. Mortgage banking revenue declined to $25.5 million from $27.4 million as originations and related operating revenue decreased. Wealth management revenue rose approximately $1.1 million to $41.0 million.
Non-interest expense increased to $405.7 million from $397.5 million. FDIC insurance expense rose to $12.1 million from $6.6 million, largely because the preceding quarter benefited from a $5.2 million special-assessment reversal.
Crane said management remained focused on balance-sheet growth, higher net interest income and expense discipline. The company also pointed to commercial and commercial real estate loan pipelines as support for its expectation of continued lending growth in the fourth quarter.
Conclusion
The fourth quarter will test management’s expectation of continued loan growth and its aim to turn higher interest income and expense discipline into positive operating leverage for 2026. Those remain management expectations, rather than completed results.
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