Wintrust Financial reported a record net income of $189 million, or $2.69 per diluted common share, in the first quarter, up from $185.4 million, or $2.63 per share, in Q4 2024.
Within the specialty finance segment, which includes equipment lending, Wintrust’s insurance premium finance originations totaled $4.8 billion, according to an April 21 release. Equipment finance capital leases, loans and operating leases reached $2.7 billion, $1.1 billion and $280.5 million in Q1, respectively.
Total loans increased $653 million, or 6% annualized, while total deposits rose $1.1 billion, or 8% annualized. Total assets grew $1 billion, or 6% annualized, in Q1.
The provision for credit losses rose to $24 million from $17 million in Q4 2024, while net charge-offs declined to $12.6 million from $15.9 million. The allowance for credit losses increased to $448.4 million, or 1.37% of total loans.
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