Wintrust Financial
Wintrust is a financial holding company in the United States that operates 15 chartered community banks in northern Illinois and southern Wisconsin.[1] Wintrust is one of the largest banking institutions in the United States and it trades on the Nasdaq Global Select Market with stock symbol WTFC. Wintrust is the second largest banking company in Chicago.[2]
Type | Public |
---|---|
Industry | Financial services |
Founded | 1991 Lake Forest, Illinois |
Founder | Ed Wehmer |
Headquarters | Rosemont, Illinois, |
Key people | Ed Wehmer, CEO & Chairman; Tim Crane, President; David Dykstra, Vice Chairman & COO |
Revenue | $ 1.462 billion (2019) |
$355,697 million (2019) | |
Total assets | $ 36.62 billion (2019) |
Number of employees | 5,057 FTE (2019) |
Rating | BBB+ |
Website | wintrust |
Services
The company provides traditional retail and commercial banking services, as well as wealth management services, commercial and life insurance premium financing, and certain treasury management services such as data processing of payrolls and billings.[3] In 2015 Wintrust began to expand into equipment financing, both directly through its bank branches and indirectly through dealers.[4]
History
Wintrust was founded by Ed Wehmer. Wintrust was among the recipients of capital from the United States government through the U.S. Treasury's Troubled Asset Relief Program.[2][5] The bank used the 2008 financial crisis to acquire small troubled banks in the Chicago area, backed by its pre-crisis capital supplemented by TARP funds. This positioned it to become one of the area's largest retail banks by eliminating costs and deepening its geographical footprint in the area.[6] Wintrust Financial continues to expand within its footprint area.[6][7][8][9]
Community banks
Unlike most major U.S. banks, Wintrust's business strategy is to retain the identities of the community banks it acquires rather than rebranding them. However, each community bank uses the tagline, "A Wintrust Community Bank."[10] Wintrust's 15 chartered bank subsidiaries and their respective community banks are:[11]
- Barrington Bank & Trust Company, N.A. [12] (Hanover Park Community Bank, Hoffman Estates Community Bank, and Palatine Bank & Trust)
- Beverly Bank & Trust Company, N.A.[13] (Brighton Park Community Bank, First National Bank of Evergreen Park, Hyde Park Bank, Oak Lawn Bank & Trust, and Pullman Bank & Trust)
- Crystal Lake Bank & Trust Company, N.A.[14] (Algonquin Bank & Trust, Cary Bank & Trust, McHenry Bank & Trust)
- Hinsdale Bank & Trust Company, N.A.[15] (Clarendon Hills Bank, Community Bank of Downers Grove, The Community Bank of Western Springs, Community Bank of Willowbrook, Lemont Bank & Trust, Proviso Community Bank, Riverside Bank, and Suburban Bank & Trust)
- Lake Forest Bank & Trust Company, N.A.[16] (Bank of Highwood-Fort Sheridan, Highland Park Bank & Trust, North Chicago Community Bank, Waukegan Community Bank, and Wintrust Banking Center)
- Libertyville Bank & Trust Company, N.A.[17] (Gurnee Community Bank, Mundelein Community Bank, Vernon Hills Bank & Trust, and Wauconda Community Bank)
- Northbrook Bank & Trust Company, N.A.[18](Buffalo Grove Bank & Trust, Deerfield Bank & Trust, Des Plaines Bank & Trust, Glenview Bank & Trust, and Northview Bank & Trust)
- Old Plank Trail Community Bank, N.A. (New Lenox)[19] (Dyer Bank & Trust, First National Bank of Illinois, Joliet Bank & Trust, Markham Bank & Trust, Orland Park Bank & Trust, Shorewood Bank & Trust, South Holland Bank & Trust)
- St. Charles Bank & Trust Company, N.A.[20] (Aurora Bank & Trust, Elgin State Bank, and Geneva Bank & Trust)
- Schaumburg Bank & Trust Company, N.A.[21] (Addison Bank & Trust, Bloomingdale Bank & Trust, Elk Grove Village Bank & Trust, Roselle Bank & Trust, and Wood Dale Bank & Trust)
- State Bank of the Lakes, N.A.[22]
- Town Bank, N.A.[23]
- Village Bank & Trust, N.A.[24]
- Wheaton Bank & Trust Company, N.A.[25] (Bolingbrook Bank & Trust, Glen Ellyn Bank & Trust and Naperville Bank & Trust)
- Wintrust Bank, N.A.[26] (Evanston Community Bank & Trust and North Shore Community Bank & Trust[27]
Subsidiaries
Its major non-bank subsidiaries are:
- Great Lakes Advisors, LLC
- The Chicago Trust Company
- First Insurance Funding
- Tricom, Inc.
- Wintrust Investments, LLC
- Wintrust Information Technology Services Company
- Wintrust Mortgage – a division of Barrington Bank & Trust Company N.A.
Marketing
Wintrust is the official banking partner of the Chicago Cubs. Part of its marketing includes the giant sign atop the JumboTron at Wrigley Field;[28][29] the "W" in "Wintrust" flashes after every Cubs win.
Wintrust has also partnered with the Chicago White Sox for the naming rights to club seats at Guaranteed Rate Field.[28]
References
- Macheel, Tanaya (June 7, 2015). "Wintrust Endeavors to Beat the Big Banks in Mobile". American Banker.
- Yerak, Becky (October 3, 2011). "Wintrust Bank's Wehmer runs Chicago's second-biggest local bank, adviser to U.S. senator". Chicago Tribune.
- "Wintrust: Who We Are". Wintrust Financial.
- Neuffer, Phil (March 2016). "Explosive Success, Disciplined Approach: Wintrust's Swift Ascension". Monitor Daily.
- DEALBOOK (December 22, 2010). "Six More Banks Repay TARP Funds". The New York Times.
- Zacks Investment Research (24 February 2016). "Wintrust (WTFC) to Acquire North Bank in Illinois for $17M". Zacks Investment Research.
- Lane, Ben (April 2, 2015). "Wintrust continues Chicago-area expansion". HousingWire.
- Pete, Joseph S. (July 20, 2015). "Wintrust completes buyout of another suburban Chicago bank". Northwest Indiana Times.
- David, Schuyler (January 19, 2016). "Wintrust continues Wisconsin expansion with deal for Pewaukee's Foundations Bank". Milwaukee Business Journal.
- Barba, Robert (September 22, 2011). "Wintrust Takes Steps So You'll Recognize Its Name". American Banker. Archived from the original on March 19, 2018.
- "Wintrust Community Banks". www.hinsdalebank.com. Retrieved 2019-12-17.
- "Welcome - Barrington Bank and Trust". www.barringtonbank.com.
- "Welcome - Beverly Bank & Trust". www.thebeverlybank.com.
- "Welcome - Crystal Lake Bank & Trust". www.crystallakebank.com.
- "Welcome - Hinsdale Bank and Trust". www.hinsdalebank.com.
- "Welcome - Lake Forest Bank & Trust Company". www.lakeforestbank.com.
- "Welcome - Libertyville Bank & Trust Company". www.libertyvillebank.com.
- "Welcome - Northbrook Bank". www.northbrookbank.com.
- "Welcome - Old Plank Trail Community Bank". www.oldplanktrailbank.com.
- "Welcome - St. Charles Bank & Trust". www.bankstcharles.com.
- "Welcome - Schaumburg Bank and Trust". www.bankschaumburg.com.
- "Welcome - State Bank of the Lakes". www.sbotl.com.
- "Welcome - Town Bank". www.townbank.us.
- "Welcome - Village Bank & Trust". www.bankatvillage.com.
- "Welcome - Wheaton Bank & Trust". www.wheatonbank.com.
- "Home". www.wintrustbank.com.
- "List of Wintrust Community Banks". Wintrust Financial.
- "Wintrust Logo To Adorn Wrigley Field Video Board". Crain's Chicago Business. 2014-12-03.
- "White Sox Sell Naming Rights To Stadium Club Seats". Crain's Chicago Business. 2014-02-05.