Illinois | 36-3873352 | |
(State of incorporation or organization) | (I.R.S. Employer Identification No.) |
Title of Each Class | Name of Each Exchange on Which Registered | |
Common Stock, no par value | The Nasdaq Stock Market LLC |
Large Accelerated Filer þ | Accelerated Filer o | Non-Accelerated Filer o |
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Competitive pressures in the financial services business which may affect the
pricing of the Companys loan and deposit products as well as its services (including
wealth management services).
Changes in the interest rate environment, which may influence, among other things,
the growth of loans and deposits, the quality of the Companys loan portfolio, the
pricing of loans and deposits and interest income.
The extent of defaults and losses on our loan portfolio.
Unexpected difficulties or unanticipated developments related to the Companys
strategy of
de novo
bank formations and openings.
De novo
banks typically require 13
to 24 months of operations before becoming profitable, due to the impact of
organizational and overhead expenses, the startup phase of generating deposits and
the time lag typically involved in redeploying deposits into attractively priced
loans and other higher yielding earning assets.
The ability of the Company to obtain liquidity and income from the sale of premium
finance receivables in the future and the unique collection and delinquency risks
associated with such loans.
Failure to identify and complete acquisitions in the future or unexpected
difficulties or unanticipated developments related to the integration of acquired
entities with the Company.
Legislative or regulatory changes or actions, or significant litigation involving
the Company.
Changes in general economic conditions in the markets in which the Company operates.
The ability of the Company to receive dividends from its subsidiaries.
The loss of customers as a result of technological changes allowing consumers to
complete their financial transactions without the use of a bank.
The ability of the Company to attract and retain senior management experienced in
the banking and financial services industries.
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require creditors to disclose credit terms in accordance with legal requirements;
require banks to disclose deposit account terms and electronic fund transfer
terms in accordance with legal requirements;
impose requirements and limitations on the users of credit reports and those who
provide information to credit reporting agencies;
prohibit discrimination against an applicant in any consumer or business credit
transaction;
prohibit discrimination in housing-related lending activities;
require banks to collect and report applicant and borrower data regarding loans
for home purchases or improvement projects;
require lenders to provide borrowers with information regarding the nature and
cost of real estate settlements;
prohibit certain lending practices and limit escrow amounts with respect to real
estate transactions; and
prescribe possible penalties for violations of the requirements of consumer
protection statutes and regulations.
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2006
2005
2004
$
34,072
34,586
140,707
690,574
714,715
545,887
49,209
48,397
25,412
60,080
8,358
8,329
866,288
874,067
533,726
139,493
119,261
89,416
$
1,839,716
1,799,384
1,343,477
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Federal
Reserve /
From 5
Mortgage-
FHLB stock
Within
From 1
to 10
After
backed
and other
1 year
to 5 years
years
10 years
securities
equities
Total
$
1,517
4,088
28,467
34,072
450,807
30,942
208,825
690,574
5,735
16,293
13,032
14,149
49,209
799
6,491
36,934
15,856
60,080
866,288
866,288
139,493
139,493
$
458,858
57,814
287,258
30,005
866,288
139,493
1,839,716
(1)
The maturities of mortgage-backed securities may differ from contractual maturities
since the underlying mortgages may be called or
prepaid without penalties. Therefore, these securities are not included within the maturity
categories above.
Federal
Reserve /
From 5
Mortgage-
FHLB stock
Within
From 1
to 10
After
backed
and other
1 year
to 5 years
years
10 years
securities
equities
Total
1.35
%
2.23
%
3.43
%
3.21
%
5.07
%
4.47
%
4.45
%
4.85
%
4.96
%
5.30
%
5.67
%
7.52
%
5.97
%
6.43
%
6.53
%
6.53
%
5.06
%
5.06
%
4.17
%
4.17
%
5.05
%
4.76
%
4.65
%
6.98
%
5.06
%
4.17
%
4.95
%
(1)
The maturities of mortgage-backed securities may differ from contractual maturities
since the underlying mortgages may be
called or
prepaid without penalties. Therefore, these securities are not included within the maturity
categories above.
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2006
2005
2004
2003
2002
% of
% of
% of
% of
% of
Amount
Total
Amount
Total
Amount
Total
Amount
Total
Amount
Total
$
4,068,437
63
%
3,161,734
61
2,465,852
57
1,648,022
50
1,320,598
52
666,471
10
624,337
12
574,668
13
466,812
14
365,521
14
207,059
3
275,729
5
248,118
5
173,625
5
156,213
6
1,165,846
18
814,681
16
770,792
18
746,895
23
461,614
18
249,534
4
203,002
4
171,926
4
174,071
5
178,234
7
43,975
1
49,453
1
29,730
1
25,024
1
21,048
1
95,158
1
84,935
1
87,260
2
63,345
2
52,858
2
$
6,496,480
100
%
5,213,871
100
4,348,346
100
3,297,794
100
2,556,086
100
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One year
From one
After
or less
to five years
five years
Total
$
1,904,047
1,946,411
217,979
4,068,437
1,165,846
1,165,846
43,975
43,975
2006
2005
2004
2003
2002
Amount
Percent
Amount
Percent
Amount
Percent
Amount
Percent
Amount
Percent
$
32,943
70
%
28,288
70
20,016
57
7,421
50
6,837
52
1,985
5
1,835
5
1,404
13
467
14
563
14
1,381
3
1,372
3
993
5
417
5
200
6
1,757
4
1,516
4
1,585
2
418
2
358
2
4,838
11
4,586
11
7,708
18
5,495
23
3,613
18
3,019
6
2,538
6
2,149
4
915
5
941
7
132
1
148
1
372
1
143
1
120
1
10,265
5,758
$
46,055
100
%
40,283
100
34,227
100
25,541
100
18,390
100
$
457
100
%
491
100
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$
613,214
560,578
794,749
669,957
$
2,638,498
2006
2005
2004
0.74
%
0.88
%
0.94
%
9.47
%
11.00
%
13.12
%
10.9
%
8.7
%
8.5
%
7.9
%
8.0
%
7.2
%
11.3
%
11.9
%
12.2
%
8.2
%
8.3
%
8.4
%
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2006
2005
2004
$
$
235
$
78,576
$
159,883
$
93,312
$
118,669
N/A
4.25
%
2.47
%
4.91
%
2.61
%
2.05
%
$
99,400
$
129,150
$
78,576
$
239,105
$
232,685
$
206,620
$
18,318
$
20,341
$
31,567
$
122,650
$
132,233
$
83,264
5.24
%
3.42
%
1.82
%
4.13
%
2.10
%
1.25
%
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the ability to develop, maintain and build upon long-term customer relationships based
on top quality service and high ethical standards;
the scope, relevance and pricing of products and services offered to meet customer
needs and demands;
the rate at which the Company introduces new products and services relative to its competitors;
customer satisfaction with the Companys level of service; and
industry and general economic trends.
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potential exposure to unknown or contingent liabilities or asset quality issues of the
target company;
difficulty and expense of integrating the operations and personnel of the target
company;
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potential disruption to Wintrusts business, including diversion of Wintrusts managements
time and attention;
the possible loss of key employees and customers of the target company;
difficulty in estimating the value of the target company; and
potential changes in banking or tax laws or regulations that may affect the target company.
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1.
A proposal to adopt the 2007 Stock Incentive Plan and the issuance of up to 500,000
shares of common stock thereunder.
Votes For
Votes Against
Abstentions
2,351,057
72,403
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34
35
36
2006
2005
High
Low
High
Low
$
50.29
$
45.08
$
59.63
$
48.00
$
51.90
$
46.14
$
55.50
$
49.01
$
59.64
$
49.08
$
52.93
$
45.00
$
58.94
$
49.79
$
57.23
$
46.78
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Record Date
Payable Date
Dividend per Share
February 8, 2005
February 22, 2005
$0.12
August 9, 2005
August 23, 2005
$0.12
February 9, 2006
February 23, 2006
$0.14
August 10, 2006
August 24, 2006
$0.14
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ISSUER PURCHASES OF EQUITY SECURITIES
(a)
(b)
(c)
(d)
Maximum
Total Number of
Number of Shares
Total
Shares Purchased
that May Yet Be
Number of
Average
as Part of Publicly
Purchased Under
Shares
Price Paid
Announced Plans
the Plans or
Period
Purchased
per Share
or Programs
Programs
111,200
$
47.57
111,200
1,888,800
132,889
$
47.64
132,889
1,755,911
100,000
$
47.21
100,000
1,655,911
344,089
$
47.50
344,089
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37
38
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Number of
Number of securities
securities to be
remaining available
issued upon
Weighted-average
for future issuance
exercise of
exercise price of
under equity
compensation
outstanding options,
outstanding options,
plans (excluding securities
warrants and rights
warrants and rights
reflected in column (a))
Plan category
(a)
(b)
(c)
2,982,309
$29.65
8,761
N/A
N/A
166,368
N/A
N/A
190,628
2,982,309
$29.65
365,757
2,982,309
$29.65
365,757
(1)
Excludes 139,659 shares of the Companys common stock issuable pursuant to the
exercise of options previously granted under the plans of Advantage National Bancorp, Inc.,
Village Bancorp, Inc., Northview Financial Corporation, Town Bankshares, Ltd., First Northwest
Bancorp, Inc. and Hinsbrook Bancshares, Inc. The weighted average exercise price of those
options is $25.47. No additional awards will be made under these plans
.
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40
41
42
43
(a)
Documents filed as part of this Report:
1., 2.
Financial Statements and Schedules
The following financial statements of Wintrust Financial Corporation, incorporated herein by
reference to the 2006 Annual Report to Shareholders filed as Exhibit 13.1, are filed as part
of this document pursuant to Item 8, Financial Statements and Supplementary Data:
Consolidated Statements of Condition as of December 31, 2006 and 2005
Consolidated Statements of Income for the Years Ended December 31,
2006, 2005 and 2004
Consolidated Statements of Changes in Shareholders Equity for the
Years Ended December 31, 2006, 2005 and 2004
Consolidated Statements of Cash Flows for the Years Ended December 31,
2006, 2005 and 2004
Notes to Consolidated Financial Statements
Report of Independent Registered Public Accounting Firm
Financial statement schedules have been omitted as they are not applicable or the required
information is shown in the Consolidated Financial Statements or notes thereto.
3.
Exhibits
(Exhibits marked with a * denote management contracts or
compensatory plans or arrangements)
3.1
Amended and Restated Articles of Incorporation of Wintrust Financial
Corporation, as amended (incorporated by reference to Exhibit 3.1 of the Companys Form
10-Q for the quarter ended June 30, 2006).
3.2
Amended and Restated By-laws of Wintrust Financial Corporation, as amended
(incorporated by reference to Exhibit 3.2 of the Companys Form 10-Q for the quarter
ended June 30, 2006).
4.1
Certain instruments defining the rights of the holders of long-term debt of the
Corporation and certain of its subsidiaries, none of which authorize a total amount of
indebtedness in excess of 10% of the total assets of the Corporation and its
subsidiaries on a consolidated basis, have not been filed as Exhibits. The Corporation
hereby agrees to furnish a copy of any of these agreements to the Commission upon
request.
10.1
Junior Subordinated Indenture dated as of August 2, 2005, between Wintrust
Financial Corporation and Wilmington Trust Company, as trustee (incorporated by
reference to Exhibit 10.1 of the Companys Form 8-K filed with the Securities and
Exchange Commission on August 4, 2005).
10.2
Amended and Restated Trust Agreement, dated as of August 2, 2005, among
Wintrust Financial Corporation, as depositor, Wilmington Trust Company, as property
trustee and Delaware trustee, and the Administrative Trustees listed therein
(incorporated by
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reference to Exhibit 10.2 of the Companys Form 8-K filed with the Securities and
Exchange Commission on August 4, 2005).
10.3
Guarantee Agreement, dated as of August 2, 2005, between Wintrust Financial
Corporation, as Guarantor, and Wilmington Trust Company, as trustee (incorporated by
reference to Exhibit 10.3 of the Companys Form 8-K filed with the Securities and
Exchange Commission on August 4, 2005)
10.4
Amended and Restated Loan Agreement ($75 million) between Wintrust Financial
Corporation and LaSalle Bank National Association, dated October 29, 2002 (incorporated
by reference to Exhibit 10.9 of the Companys Form 10-K for the year ending December
31, 2002).
10.5
Credit Agreement, dated as of November 1, 2005, among Wintrust Financial
Corporation, the various financial institutions party thereto and LaSalle Bank National
Association, as Administrative Agent (incorporated by reference to Exhibit 10.1 of the
Companys Form 8-K filed with the Securities and Exchange Commission on December 15,
2005).
10.6
$25 million Subordinated Note between Wintrust Financial Corporation and
LaSalle Bank National Association, dated October 29, 2002 (incorporated by reference to
Exhibit 10.9 of the Companys Form 10-K for the year ending December 31, 2002).
10.7
Amendment and Allonge made as of June 7, 2005 to that certain $25 million
Subordinated Note dated October 29, 2002 executed by Wintrust Financial Corporation in
favor of LaSalle Bank National Association (incorporated by reference to Exhibit 10.1
of the Companys Form 8-K filed with the Securities and Exchange Commission on August
5, 2005).
10.8
$25 million Subordinated Note between Wintrust Financial Corporation and
LaSalle Bank National Association, dated April 30, 2003 (incorporated by reference to
Exhibit 10.1 of the Companys Form 10-Q for the quarter ending June 30, 2003).
10.9
Amendment and Allonge made as of June 7, 2005 to that certain $25 million
Subordinated Note dated April 30, 2003 executed by Wintrust Financial Corporation in
favor of LaSalle Bank National Association (incorporated by reference to Exhibit 10.2
of the Companys Form 8-K filed with the Securities and Exchange Commission on August
5, 2005).
10.10
$25.0 million Subordinated Note between Wintrust Financial Corporation and
LaSalle Bank, National Association, dated October 25, 2005 (incorporated by reference
to Exhibit 10.1 of the Companys Form 8-K filed with the Securities and Exchange
Commission on October 28, 2005).
10.11
Amended and Restated $1.0 million Note between Wintrust Financial Corporation
and LaSalle Bank, National Association, dated as of May 29, 2005, executed August 26,
2005 (incorporated by reference to Exhibit 10.8 of the Companys Form 10-Q for the
quarter ending September 30, 2005).
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10.12
$50.0 million Revolving Note between Wintrust Financial Corporation and
LaSalle Bank, National Association, dated as of July 25, 2005,
executed August 26, 2005 (incorporated by reference to
Exhibit 10.9 of the Companys Form
10-Q for the quarter ending September 30, 2005).
10.13
Amended and Restated Pledge and Security Agreement dated as of May 29, 2005,
executed August 26, 2005, between Wintrust Financial Corporation and LaSalle Bank,
National Association (incorporated by reference to Exhibit 10.10 of the Companys Form
10-Q for the quarter ending September 30, 2005).
10.14
Amended and Restated Collateral Safekeeping Agreement dated as of May 29,
2005, executed August 26, 2005, among Wintrust Financial Corporation, LaSalle Bank,
National Association and Standard Federal Bank, N.A. (incorporated by reference to
Exhibit 10.11 of the Companys Form 10-Q for the quarter ending September 30, 2005).
10.15
Amended and Restated Confirmation, dated as of December 14, 2005, between
Wintrust Financial Corporation and RBC Capital Markets Corporation as agent for Royal
Bank of Canada (incorporated by reference to Exhibit 10.1 of the Companys Form 8-K
filed with the Securities and Exchange Commission on December 16, 2005).
10.16
Indenture dated as of September 1, 2006, between Wintrust Financial
Corporation and LaSalle Bank National Association, as trustee (incorporated by
reference to Exhibit 10.1 of the Companys Current Report on Form 8-K filed with the
Commission on September 6, 2006).
10.17
Amended and Restated Declaration of Trust, dated as of September 1, 2006,
among Wintrust Financial Corporation, as depositor, LaSalle Bank National Association,
as institutional trustee, Christiana Bank & Trust Company, as Delaware trustee, and the
Administrators listed therein (incorporated by reference to Exhibit 10.2 of the
Companys Current Report on Form 8-K filed with the Commission on September 6, 2006).
10.18
Guarantee Agreement, dated as of September 1, 2006, between Wintrust Financial
Corporation, as Guarantor, and LaSalle Bank National Association, as trustee
(incorporated by reference to Exhibit 10.3 of the Companys Current Report on Form 8-K
filed with the Commission on September 6, 2006).
10.19
Form of Wintrust Financial Corporation Warrant Agreement (incorporated by
reference to Exhibit 10.29 to Amendment No. 1 to Registrants Form S 4 Registration
Statement (No. 333-4645), filed with the Securities and Exchange Commission on July 22,
1996).*
10.20
Form of Employment Agreement entered into between the Company and Edward J.
Wehmer, President and Chief Executive Officer. The Company entered into Employment
Agreements with David A. Dykstra, Senior Executive Vice President and Chief Operating
Officer and Richard B. Murphy, Executive Vice President and Chief Credit Officer during
2005 in substantially identical form to this exhibit (incorporated by reference to
Exhibit of the Companys Form 10-K for the year ending December 31, 2004).*
10.21
Form of Employment Agreement entered into between the Company and David L.
Stoehr, Executive Vice President and Chief Financial Officer. The Company entered into
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an Employment Agreement with Robert F. Key, Executive Vice
President/Marketing, during 2005 in substantially identical form to this exhibit (incorporated by
reference to Exhibit 10.23 of the Companys Form 10-K for the year ending December
31, 2004).*
10.22
Employment Agreement entered into between the Company and Thomas P. Zidar,
dated June 6, 2006 (incorporated by reference to Exhibit 10.1 of the Companys Form
10-Q for the quarter ended June 30, 2006).*
10.23
Employment Agreement entered into between Lake Forest Bank & Trust Company and
Randolph M. Hibben, dated March 25, 2005.*
10.24
Wintrust Financial Corporation 1997 Stock Incentive Plan (incorporated by
reference to Appendix A of the Proxy Statement relating to the May 22, 1997 Annual
Meeting of Shareholders of the Company).*
10.25
First Amendment to Wintrust Financial Corporation 1997 Stock Incentive Plan
(incorporated by reference to Exhibit 10.1 of the Companys Form 10-Q for the quarter
ended June 30, 2000).*
10.26
Second Amendment to Wintrust Financial Corporation 1997 Stock Incentive Plan
adopted by the Board of Directors on January 24, 2002 (incorporated by reference to
Exhibit 99.3 of Form S-8 filed July 1, 2004.).*
10.27
Third Amendment to Wintrust Financial Corporation 1997 Stock Incentive Plan
adopted by the Board of Directors on May 27, 2004 (incorporated by reference to Exhibit
99.4 of Form S-8 filed July 1, 2004.).*
10.28
Wintrust Financial Corporation 2007 Stock Incentive Plan (incorporated by
reference to Exhibit 10.1 of the Companys Current Report on Form 8-K filed with the
Commission on January 16, 2007).*
10.29
Form of Nonqualified Stock Option Agreement (incorporated by reference to
Exhibit 10.30 of the Companys Form 10-K for the year ending December 31, 2004).*
10.30
Form of Restricted Stock Award (incorporated by reference to Exhibit 10.31 of
the Companys Form 10-K for the year ending December 31, 2004).*]
10.31
Form of Nonqualified Stock Option Agreement under the Companys 2007 Stock
Incentive Plan.*
10.32
Form of Restricted Stock Award under the Companys 2007 Stock Incentive Plan.*
10.33
Wintrust Financial Corporation Employee Stock Purchase Plan (incorporated by
reference to Appendix B of the Proxy Statement relating to the May 22, 1997 Annual
Meeting of Shareholders of the Company).*
10.34
Wintrust Financial Corporation Directors Deferred Fee and Stock Plan
(incorporated by reference to Appendix B of the Proxy Statement relating to the May 24,
2001 Annual Meeting of Shareholders of the Company).*
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12.1
Computation of Ratio of Earnings to Fixed Charges.
13.1
2006 Annual Report to Shareholders.
14.1
Code of Ethics (incorporated by reference to Exhibit 14.1 of the Companys Form
10-K for the year ending December 31, 2005)
21.1
Subsidiaries of the Registrant.
23.1
Consent of Independent Auditors.
31.1
Certification of Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
31.2
Certification of the Chief Financial Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
32.1
Certification Chief Executive Officer and Chief Financial Officer pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
99.1
First Amendment dated as of June 1, 2006, to Credit Agreement dated as of
November 1, 2005, among Wintrust Financial Corporation, the various financial
institutions party thereto and LaSalle Bank National Association, as Administrative
Agent.
99.2
Second Amendment dated as of August 1, 2006, to Credit Agreement dated as of
November 1, 2005, among Wintrust Financial Corporation and LaSalle Bank National
Association, in its individual capacity.
99.3
Third Amendment dated as of January 1, 2007, to Credit Agreement dated as of
November 1, 2005, among Wintrust Financial Corporation and LaSalle Bank National
Association, in its individual capacity.
99.4
Fifth Amendment to Second Amended and Restated Loan Agreement (relating to $50
million Revolving Note executed August 26, 2005) dated as of June 1, 2006, between
Wintrust Financial Corporation, and LaSalle Bank National Association, in its
individual capacity.
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44
45
(Registrant)
/s/ EDWARD J. WEHMER
March 1, 2007
President and Chief Executive Officer
/s/ DAVID L. STOEHR
March 1, 2007
Executive Vice President and
Chief Financial Officer
(Principal Financial and Accounting Officer)
/s/ JOHN S. LILLARD
March 1, 2007
Chairman of the Board of Directors
/s/ EDWARD J. WEHMER
March 1, 2007
President and CEO and Director
/s/ ALLAN E. BULLEY, JR.
March 1, 2007
Director
/s/ PETER D. CRIST
March 1, 2007
Director
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/s/ BRUCE K. CROWTHER
March 1, 2007
Director
/s/ JOSEPH F. DAMICO
March 1, 2007
Director
/s/ BERT A. GETZ, JR.
March 1, 2007
Director
/s/ JAMES B. MCCARTHY
March 1, 2007
Director
/s/ ALBIN F. MOSCHNER
March 1, 2007
Director
/s/ THOMAS J. NEIS
March 1, 2007
Director
/s/ HOLLIS W. RADEMACHER
March 1, 2007
Director
/s/ J. CHRISTOPHER REYES
March 1, 2007
Director
/s/ JOHN J. SCHORNACK
March 1, 2007
Director
/s/ INGRID S. STAFFORD
March 1, 2007
Director
- 2 -
- 3 -
- 4 -
- 5 -
- 6 -
- 7 -
- 8 -
- 9 -
- 10 -
- 11 -
- 12 -
- 13 -
- 14 -
- 15 -
By:
|
/s/ Edward J. Wehmer | /s/ Randolph M. Hibben | ||||||
|
||||||||
|
Edward J. Wehmer | Randolph M. Hibben | ||||||
|
Wintrust Financial Corporation | |||||||
|
||||||||
Its:
|
President and Chief Executive Officer | Dated: 3/25/05 | ||||||
|
||||||||
Dated: 3/25/05 |
- 16 -
1) EXECUTIVE NAME:
2) CURRENT TITLE
3) EMPLOYER
4) TITLE AT DATE OF HIRE
5) DATE OF HIRE
|
RANDOLPH M HIBBEN |
WINTRUST FINANCIAL CORP
TOTAL COMPENSATION HISTORY SENIOR EXECUTIVE COMPENSATION |
||
CHAIRMAN & CEO | ||||
LAKE FOREST BANK & TRUST |
JANUARY 2005
|
|||
SENIOR VP CASHIER LAKE FOREST BANK | ||||
OCTOBER 1991 |
15)
PROMOTED TO:
|
4/99-PRESIDENT AND CEO NORTH SHORE COMMUNITY BANK | |
|
5/01 CHAIRMAN AND CEO LAKE FOREST BANK & TRUST | |
|
03 VICE CHAIRMAN NORTH SHORE COMMUNITY BANK | |
16) CONTRACT (YES OR NO)
|
YES | |
17) COMMENTS OR NOTES:
|
«Date_Year_1»
«Date_Year_2» «Date_Year_3» «Date_Year_4» «Date_Year_5» |
«Vest_Year_1»
«Vest_Year_2» «Vest_Year_3» «Vest_Year_4» «Vest_Year_5» |
(i) | misappropriation of any funds or property of the Company or its subsidiaries; or | ||
(ii) | attempting to obtain any personal profit from any transaction in which the Key Employee has a personal financial interest, unless the Key Employee shall have first obtained the consent of the Board of Directors; or | ||
(iii) | material neglect or refusal to perform the duties reasonably assigned to the Key Employee given the Key Employees current job description; or | ||
(iv) | participating in a course of conduct which is injurious to the Company or its subsidiaries, as interpreted by the Board of Directors; or | ||
(v) | being convicted of a felony; or | ||
(vi) | being adjudicated a bankrupt; or | ||
(vii) | suspension due to the direction of any authorized bank regulatory agency. |
Edward J. Wehmer, President |
Date |
|
|
||
Key Employee:
|
||
|
||
«Name» |
Date |
|
|
||
Attest
|
||
|
||
David A. Dykstra |
Date |
2
3
(i) | misappropriation of any funds or property of the Company or its subsidiaries; or | ||
(ii) | attempting to obtain any personal profit from any transaction in which the Employee has a personal financial interest, unless the Employee shall have first obtained the consent of the Board of Directors; or | ||
(iii) | material neglect or refusal to perform the duties reasonably assigned to the Employee given the Employees current job description; or | ||
(iv) | participating in a course of conduct which is injurious to the Company or its subsidiaries, as interpreted by the Board of Directors; or | ||
(v) | being convicted of a felony; or | ||
(vi) | being adjudicated a bankrupt; or | ||
(vii) | suspension due to the direction of any authorized bank regulatory agency. |
4
(A) | For the purposes of this Agreement, Adjusted Total Compensation means the aggregate base salary earned by the Employee plus the dollar value of all perquisites (i.e. Employer provided car, club dues and supplemental life insurance) as estimated by Employer in respect of the Employee for the relevant twelve month period. Adjusted Total Compensation shall exclude any bonus payments paid or earned by the Employee. | ||
(B) | For the purposes of this Agreement, the Employee will not be deemed to have incurred a Termination for Good Reason if there is a general reduction in base salaries and/or perquisites applicable to the President, Chief Executive Officer and all Vice Presidents of Employer. |
5
6
EMPLOYEE:
|
WINTRUST FINANCIAL CORPORATION: | |
|
||
|
||
|
Edward J. Wehmer | |
«NAME»
|
President and Chief Executive Officer | |
|
||
|
ATTEST: | |
|
||
|
David A. Dykstra |
7
Form 10-K, Exhibit 12.1
Years ended December 31,
2006
2005
2004
2003
2002
A
$
104,241
$
104,950
$
80,887
$
59,344
$
42,495
$
265,729
$
156,252
$
83,135
$
67,963
$
70,061
C
43,330
34,025
20,787
15,536
14,044
B
$
309,059
$
190,277
$
103,922
$
83,499
$
84,105
(A+B) / B
1.34
x
1.55
x
1.78
x
1.71
x
1.51
x
(A+C) / C
3.41
x
4.08
x
4.89
x
4.82
x
4.03
x
|
Net income down 1% | |
|
||
|
Fully diluted earnings per share down 7% | |
|
||
|
Grew net revenue 10% | |
|
||
|
Net interest income up 15% | |
|
||
|
Total assets increased 17% | |
|
||
|
Total deposits grew 17% | |
|
||
|
Increased total loans 25% | |
|
||
|
Total equity up 23% | |
|
||
|
Book value per common share grew 16% | |
|
||
|
Dividends paid per share increased 17% | |
|
||
|
Return on average equity was 9.47% | |
|
||
|
Return on average assets stood at 0.74% | |
|
||
|
Launched de novo bankOld Plank Trail Community Bank | |
|
||
|
Successfully completed the acquisition of Hinsbrook Bank & Trust with locations in Darien, Downers Grove, Geneva, Glen Ellyn, and Willowbrook, Illinois | |
|
||
|
15 bank charters | |
|
||
|
23 total operating subsidiaries | |
|
||
|
11 net new banking facilities in Illinois and Wisconsin |
Years Ended December 31, | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
(dollars in thousands, except per share data) | ||||||||||||||||||||
Selected Financial Condition Data
|
||||||||||||||||||||
(at end of year):
|
||||||||||||||||||||
Total assets
|
$ | 9,571,852 | $ | 8,177,042 | $ | 6,419,048 | $ | 4,747,398 | $ | 3,721,555 | ||||||||||
Total loans
|
6,496,480 | 5,213,871 | 4,348,346 | 3,297,794 | 2,556,086 | |||||||||||||||
Total deposits
|
7,869,240 | 6,729,434 | 5,104,734 | 3,876,621 | 3,089,124 | |||||||||||||||
Notes payable
|
12,750 | 1,000 | 1,000 | 26,000 | 44,025 | |||||||||||||||
Federal Home Loan Bank advances
|
325,531 | 349,317 | 303,501 | 144,026 | 140,000 | |||||||||||||||
Subordinated notes
|
75,000 | 50,000 | 50,000 | 50,000 | 25,000 | |||||||||||||||
Long-term debt trust preferred securities
|
249,828 | 230,458 | 204,489 | 96,811 | 50,894 | |||||||||||||||
Total shareholders equity
|
773,346 | 627,911 | 473,912 | 349,837 | 227,002 | |||||||||||||||
Selected Statements of Operations Data:
|
||||||||||||||||||||
Net interest income
|
$ | 248,886 | $ | 216,759 | $ | 157,824 | $ | 120,492 | $ | 98,128 | ||||||||||
Net revenue
(1)
|
340,118 | 310,316 | 243,276 | 193,084 | 158,800 | |||||||||||||||
Net income
|
66,493 | 67,016 | 51,334 | 38,118 | 27,875 | |||||||||||||||
Net income per common share Basic
|
2.66 | 2.89 | 2.49 | 2.11 | 1.71 | |||||||||||||||
Net income per common share Diluted
|
2.56 | 2.75 | 2.34 | 1.98 | 1.60 | |||||||||||||||
Cash dividends declared per common share
|
0.28 | 0.24 | 0.20 | 0.16 | 0.12 | |||||||||||||||
Selected Financial Ratios and Other Data:
|
||||||||||||||||||||
Performance Ratios:
|
||||||||||||||||||||
Net interest margin
|
3.10 | % | 3.16 | % | 3.17 | % | 3.20 | % | 3.34 | % | ||||||||||
Core net interest margin
(2)
|
3.31 | 3.37 | 3.31 | 3.32 | 3.51 | |||||||||||||||
Non-interest income to average assets
|
1.02 | 1.23 | 1.57 | 1.76 | 1.89 | |||||||||||||||
Non-interest expense to average assets
|
2.56 | 2.62 | 2.86 | 2.98 | 3.30 | |||||||||||||||
Net overhead ratio
(3)
|
1.54 | 1.39 | 1.30 | 1.22 | 1.41 | |||||||||||||||
Efficiency ratio
(4)
|
66.96 | 63.97 | 64.45 | 63.52 | 66.41 | |||||||||||||||
Return on average assets
|
0.74 | 0.88 | 0.94 | 0.93 | 0.87 | |||||||||||||||
Return on average equity
|
9.47 | 11.00 | 13.12 | 14.36 | 14.76 | |||||||||||||||
Average total assets
|
$ | 8,925,557 | $ | 7,587,602 | $ | 5,451,527 | $ | 4,116,618 | $ | 3,212,467 | ||||||||||
Average total shareholders equity
|
701,794 | 609,167 | 391,335 | 265,495 | 188,849 | |||||||||||||||
Ending loan-to-deposit ratio
|
82.6 | % | 77.5 | % | 85.2 | % | 85.1 | % | 82.7 | % | ||||||||||
Average loans to average deposits ratio
|
82.2 | 83.4 | 87.7 | 86.4 | 88.5 | |||||||||||||||
Average interest earning assets to
average interest bearing liabilities
|
107.78 | 108.83 | 109.89 | 109.68 | 109.86 | |||||||||||||||
Asset Quality Ratios:
|
||||||||||||||||||||
Non-performing loans to total loans
|
0.57 | % | 0.50 | % | 0.43 | % | 0.72 | % | 0.49 | % | ||||||||||
Non-performing assets to total assets
|
0.39 | 0.34 | 0.29 | 0.51 | 0.34 | |||||||||||||||
Allowance for credit losses
(5)
to:
|
||||||||||||||||||||
Total loans
|
0.72 | 0.78 | 0.79 | 0.77 | 0.72 | |||||||||||||||
Non-performing loans
|
126.14 | 155.69 | 184.13 | 107.59 | 146.63 | |||||||||||||||
Common Share Data at end of year:
|
||||||||||||||||||||
Market price per common share
|
$ | 48.02 | $ | 54.90 | $ | 56.96 | $ | 45.10 | $ | 31.32 | ||||||||||
Book value per common share
|
$ | 30.38 | $ | 26.23 | $ | 21.81 | $ | 17.43 | $ | 13.19 | ||||||||||
Common shares outstanding
|
25,457,935 | 23,940,744 | 21,728,548 | 20,066,265 | 17,216,270 | |||||||||||||||
Other Data at end of year:
|
||||||||||||||||||||
Number of:
|
||||||||||||||||||||
Bank subsidiaries
|
15 | 13 | 12 | 9 | 7 | |||||||||||||||
Non-bank subsidiaries
|
8 | 10 | 10 | 7 | 7 | |||||||||||||||
Banking offices
|
73 | 62 | 50 | 36 | 31 | |||||||||||||||
(1) | Net revenue is net interest income plus non-interest income. | |
(2) | The core net interest margin excludes the effect of the net interest expense associated with the Companys Long-Term Debt Trust Preferred Securities. | |
(3) | The net overhead ratio is calculated by netting total non-interest expense and total non-interest income and dividing by that periods total average assets. A lower ratio indicates a higher degree of efficiency. | |
(4) | The efficiency ratio is calculated by dividing total non-interest expense by tax-equivalent net revenues (less securities gains or losses). A lower ratio indicates more efficient revenue generation. | |
(5) | The allowance for credit losses includes both the allowance for loan losses and the allowance for lending-related commitments. |
2006 Annual Report | 3 |
4 | Wintrust Financial Corporation |
2006 Annual Report | 5 |
|
|
6 | Wintrust Financial Corporation |
2006 Annual Report | 7 |
|
|
|
||
John S. Lillard
|
Edward J. Wehmer | David A. Dykstra | ||
Chairman
|
President & | Senior Executive Vice President & | ||
|
Chief Executive Officer | Chief Operating Officer | ||
|
||||
|
|
|
8 | Wintrust Financial Corporation |
Compound Growth Rates | ||||||||||||||||||||
1 year | 2 year | 3 year | 4 year | 5 year | ||||||||||||||||
Total Assets
|
17.1 | % | 22.1 | % | 26.3 | % | 26.6 | % | 28.8 | % | ||||||||||
Total Loans
(1)
|
24.6 | % | 22.2 | % | 25.4 | % | 26.3 | % | 26.3 | % | ||||||||||
Total Deposits
|
16.9 | % | 24.2 | % | 26.6 | % | 26.3 | % | 27.7 | % | ||||||||||
Total Revenue
|
9.6 | % | 18.2 | % | 20.8 | % | 21.0 | % | 27.0 | % | ||||||||||
Net Income
|
(0.8 | )% | 13.8 | % | 20.4 | % | 24.3 | % | 29.2 | % | ||||||||||
Diluted Earnings Per Share
|
(6.9 | )% | 4.6 | % | 8.9 | % | 12.5 | % | 15.1 | % | ||||||||||
(1) | Excludes mortgage loans held-for-sale |
2006 Annual Report | 9 |
10 | Wintrust Financial Corporation |
Diluted | Dividend | Dividend | ||||||||||
Year | Earnings | Per Share | Payout Ratio | |||||||||
2006
|
$ | 2.56 | $ | 0.280 | 10.9 | % | ||||||
2005
|
2.75 | 0.240 | 8.7 | |||||||||
2004
|
2.34 | 0.200 | 8.5 | |||||||||
2003
|
1.98 | 0.160 | 8.1 | |||||||||
2002
|
1.60 | 0.120 | 7.5 | |||||||||
2001
|
1.27 | 0.093 | 7.3 | |||||||||
2006 Annual Report | 11 |
2006 Annual Report | 15 |
|
|
|
| Customer base has grown to approximately 130,000, up from 120,000 in 2005; | |
| Average deposits per bank group exceeded $524 million, up from $518 million a year ago; | |
| Average deposits per banking facility remained relatively stable at approximately $108 million in 2006 and 2005 which is a good result given that we opened 11 new facilities or 18% more; and, | |
| 29% growth in commercial/commercial real estate loan balances. | |
Deposit | ||||||||||||
Market | ||||||||||||
De Novo | Acquisition | Share | ||||||||||
Bank | Opening | Date | Rank | |||||||||
1. Lake Forest Bank
|
12/91 | 1 (out of 9) | ||||||||||
2. Hinsdale Bank
|
10/93 | 3 (out of 13) | ||||||||||
3. North Shore Bank
|
9/94 | 1 (out of 8) | ||||||||||
4. Libertyville Bank
|
10/95 | 1 (out of 10) | ||||||||||
5. Barrington Bank
|
12/96 | 2 (out of 8) | ||||||||||
6. Crystal Lake Bank
|
12/97 | 2 (out of 15) | ||||||||||
7. Northbrook Bank
|
11/00 | 2 (out of 14) | ||||||||||
8. Advantage Bank
|
10/03 | 3 (out of 15) | ||||||||||
9. Village Bank
|
12/03 | 1 (out of 10) | ||||||||||
10. Beverly Bank
|
4/04 | 3 (out of 10) | ||||||||||
11. Wheaton Bank
|
9/04 | 5 (out of 16) | ||||||||||
12. Town Bank
|
10/04 | 1 (out of 5) | ||||||||||
13. State Bank
|
1/05 | 1 (out of 6) | ||||||||||
14. Old Plank Bank
|
3/06 | 4 (out of 11) | ||||||||||
16 | Wintrust Financial Corporation |
| Algonquin Bank & Trust (permanent location with drive-through, a branch of Crystal Lake Bank & Trust Company); | |
| Downers Grove Community Bank (conversion of previous Hinsbrook Bank & Trust-Downers Grove facility with drive through is now a branch of Hinsdale Bank & Trust Company); | |
| Glen Ellyn Bank & Trust (conversion of previous Hinsbrook Bank & Trust-Glen Ellyn facility with drive-through is now a branch of Wheaton Bank & Trust Company); | |
| Gurnee Community Bank (permanent location with drive-through, a branch of Libertyville Bank & Trust Company); | |
| Hinsbrook Bank & Trust-Darien (conversion of previous Hinsbrook Bank & Trust facility with drive-through, now a branch of Hinsdale Bank & Trust Company); | |
| Hinsbrook Bank & Trust-Willowbrook (conversion of previous Hinsbrook Bank & Trust facility with drive-through, now a branch of Hinsdale Bank & Trust Company); | |
| Old Plank Trail Community Bank-Frankfort (temporary facility); | |
| Old Plank Trail Community Bank-New Lenox (temporary facility); | |
| Old Plank Trail Community Bank-Mokena (temporary facility); | |
| St. Charles Bank & Trust Company (temporary main bank facility); | |
| St. Charles Bank & Trust Company-Geneva (conversion of previous Hinsbrook Bank & Trust-Geneva facility with drive-through); and, | |
| Town Bank-Elm Grove (branch facility with drive-through, a branch of Town Bank). |
| Carol Stream Bank & Trust (a branch of Wheaton Bank & Trust Company); | |
| Hoffman Estates Community Bank (an additional branch of Barrington Bank & Trust Company); | |
| Island Lake Community Bank (a branch of Libertyville Bank & Trust Company); | |
| North Chicago Community Bank (a branch of Lake Forest Bank & Trust Company); | |
| North Shore Community Bank & Trust (main bank expansion); | |
| Old Plank Trail Community Bank-Frankfort (permanent bank branch facility with drive-through); | |
| Old Plank Trail Community Bank-New Lenox (permanent main bank facility with drive-through); | |
| Old Plank Trail Community Bank-Mokena (permanent bank branch facility with drive-through); | |
| Old Town Bank & Trust-Bloomingdale (a branch of Advantage National Bank); | |
| Palatine Bank & Trust (new main bank facility with drive-through, a branch of Barrington Bank); | |
| State Bank of The Lakes-Antioch (an additional branch of State Bank of The Lakes in East Antioch); | |
| Town Bank of Elm Grove (new bank branch facility); and, | |
| Town Bank of Hartland (permanent bank branch facility). |
|
|
2006 Annual Report | 17 |
18 | Wintrust Financial Corporation |
2006 Annual Report | 19 |
20 | Wintrust Financial Corporation |
1. | Building a base of community banks; | ||
2. | Growing commercial banking business; | ||
3. | Expanding wealth management distribution; and | ||
4. | Developing asset niches and other income generators to fuel growth. |
In-market | Deposit | Year Ago | ||||||||||||||
Deposit | Market | Market Share | Headquarter | |||||||||||||
Bank Holding Company | Dollars | Share % | Change | Location | ||||||||||||
1) JP Morgan Chase & Co.
|
$40.1 BB | 15.30 | % | -0.72 | % | New York, NY | ||||||||||
2) ABN AMRO Holding N.V.
|
$37.0 BB | 14.11 | % | 1.19 | % | Netherlands | ||||||||||
3) Bank of Montreal
|
$25.6 BB | 9.77 | % | 0.03 | % | Canada | ||||||||||
4) Fifth Third Bancorp
|
$ 8.5 BB | 3.23 | % | -0.13 | % | Cincinnati, OH | ||||||||||
5) Corus Bankshares
|
$ 8.3 BB | 3.18 | % | 0.88 | % | Chicago, IL | ||||||||||
6) Royal Bank of Scotland Group
|
$ 7.3 BB | 2.79 | % | 0.10 | % | Scotland | ||||||||||
7) Northern Trust Corporation
|
$ 7.3 BB | 2.79 | % | -0.74 | % | Chicago, IL | ||||||||||
8) Wintrust Financial Corporation
|
$ 7.2 BB | 2.75 | % | 0.24 | % | Lake Forest, IL | ||||||||||
2006 Annual Report | 21 |
22 | Wintrust Financial Corporation |
2006 Annual Report | 23 |
Non-Bank Asset Niches
|
||||
|
||||
Commercial premium finance lending (FIRST Insurance Funding)
|
17.9 | % | ||
|
||||
Temporary staffing industry financing (Tricom)
|
0.7 | % | ||
|
||||
|
18.6 | % | ||
|
||||
Specialty Banking Asset Niches
|
||||
|
||||
Indirect auto lending (Hinsdale Bank)
|
3.6 | % | ||
|
||||
Mortgage warehouse lending (Hinsdale Bank)
|
1.0 | % | ||
|
||||
Condominium and association lending (Community Advantage-Barrington Bank)
|
0.7 | % | ||
|
||||
Small craft aviation lending (North American Aviation Finance-Crystal Lake Bank)
|
0.7 | % | ||
|
||||
|
6.0 | % | ||
| Completion of our banks web site upgradeNew design will offer better content and state of the art navigation; | ||
| Another update of internet banking servicesimproved functionality of on-line banking, bill pay and bill presentment; | ||
| Continue to review centralized common banking applications for cost reduction, increased quality control and support efficiencies; | ||
| Complete implementation of the selected centralized document imaging service for the Wintrust companies; | ||
| Implement enhanced Account Analysis functionality for our commercial business; | ||
| Implement a fully automated wire transfer system; | ||
| Add Electronic transaction functionality for our commercial customers to offer their customers; and | ||
| Add improved international wire transfer services for commercial customers. |
24 | Wintrust Financial Corporation |
|
|
2006 Annual Report | 25 |
|
|
|
Edward J. Wehmer
|
David L. Stoehr | |
President
&
|
Executive Vice President & | |
Chief Executive Officer
|
Chief Financial Officer |
26 | Wintrust Financial Corporation |
February 28, 2007
2006
Annual Report
27
Table of Contents
CONSOLIDATED STATEMENTS OF CONDITION
(In thousands, except share data)
December 31,
2006
2005
$
169,071
158,136
136,221
183,229
19,259
12,240
1,839,716
1,799,384
2,324
1,610
24,040
27,900
148,331
85,985
6,496,480
5,213,871
46,055
40,283
6,450,425
5,173,588
311,041
247,875
180,889
272,772
268,936
196,716
21,599
17,607
$
9,571,852
8,177,042
$
699,203
620,091
7,170,037
6,109,343
7,869,240
6,729,434
12,750
1,000
325,531
349,317
162,072
95,796
75,000
50,000
249,828
230,458
104,085
93,126
8,798,506
7,549,131
25,802
23,941
519,233
420,426
(16,343
)
681
744
261,734
201,133
(17,761
)
(18,333
)
773,346
627,911
$
9,571,852
8,177,042
Wintrust Financial Corporation
Table of Contents
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended December 31
2006
2005
2004
$
456,384
335,391
218,298
651
279
80
5,393
3,485
934
93,398
66,555
40,891
51
68
130
2,068
1,258
1,413
557,945
407,036
261,746
265,729
156,252
83,135
14,675
11,912
8,070
5,638
4,178
2,358
4,695
2,829
2,891
18,322
15,106
7,468
309,059
190,277
103,922
248,886
216,759
157,824
7,057
6,676
6,298
241,829
210,083
151,526
31,720
30,008
31,656
22,341
25,913
18,250
7,146
5,983
4,100
2,883
6,499
7,347
4,598
4,539
3,984
3,157
11,434
11,121
17
1,063
1,863
19,370
8,118
7,131
91,232
93,557
85,452
137,008
118,071
94,049
13,529
11,779
9,074
19,807
16,176
10,083
8,493
7,129
5,560
5,074
4,970
3,403
6,172
5,609
5,376
3,938
3,394
1,110
34,799
31,562
27,436
228,820
198,690
156,091
104,241
104,950
80,887
37,748
37,934
29,553
$
66,493
67,016
51,334
$
2.66
2.89
2.49
$
2.56
2.75
2.34
29
Table of Contents
CONSOLIDATED
STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY
(In thousands, except share data)
Accumulated
Compre-
other
hensive
Common
comprehensive
Total
income
Common
Treasury
stock
Retained
income
shareholders'
(loss)
stock
Surplus
stock
warrants
earnings
(loss)
equity
$
20,066
243,626
1,012
92,301
(7,168
)
349,837
$
51,334
51,334
51,334
(353
)
(353
)
(353
)
163
163
163
51,144
(4,069
)
(4,069
)
1,035
58,903
59,938
474
13,004
13,478
27
1,303
1,330
28
907
935
94
1,236
(184
)
1,146
5
168
173
21,729
319,147
828
139,566
(7,358
)
473,912
67,016
67,016
67,016
(11,081
)
(11,081
)
(11,081
)
106
106
106
56,041
(5,449
)
(5,449
)
1,000
54,845
55,845
601
29,986
30,587
461
12,692
13,153
35
1,679
1,714
19
832
851
89
935
(84
)
940
7
310
317
23,941
420,426
744
201,133
(18,333
)
627,911
66,493
66,493
66,493
2,051
2,051
2,051
(1,479
)
(1,479
)
(1,479
)
$
67,065
(6,961
)
(6,961
)
(16,343
)
(16,343
)
1,069
1,069
17,282
17,282
200
11,384
11,584
1,123
55,965
57,088
401
11,255
11,656
37
1,949
1,986
73
(73
)
14
476
(63
)
427
13
569
582
$
25,802
519,233
(16,343
)
681
261,734
(17,761
)
773,346
30
Wintrust Financial Corporation
Table of Contents
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Years Ended December 31,
2006
2005
2004
$
66,493
67,016
51,334
7,057
6,676
6,298
17,622
14,113
9,805
(1,207
)
345
2,956
12,159
4,450
5,281
7,038
8,671
(4,565
)
(1,136
)
2,638
2,259
(1,809
)
1,809
(1,971,894
)
(2,198,638
)
(1,520,848
)
1,922,284
2,227,636
1,571,524
(2,883
)
(6,499
)
(7,347
)
(714
)
1,989
70
3,860
3,947
2,065
(12,736
)
(10,054
)
(11,117
)
(17
)
(1,063
)
(1,863
)
(14
)
40
(535
)
(10,307
)
(4,507
)
8,515
13,918
(30
)
2,744
41,392
116,906
124,531
857,199
384,840
179,643
372,613
1,068,470
922,732
(1,069,596
)
(1,827,642
)
(1,477,226
)
302,882
561,802
495,720
(51,070
)
(79,222
)
(7,433
)
(6,819
)
(7,191
)
16,769
(1,211,300
)
(1,007,090
)
(1,114,479
)
(7,861
)
(64,824
)
(47,006
)
(30,606
)
(870,915
)
(953,039
)
(1,022,741
)
717,044
1,038,247
679,237
63,476
(133,755
)
22,236
11,750
(5,000
)
(25,000
)
(36,080
)
22,815
136,000
50,000
40,000
90,000
(31,050
)
(20,000
)
25,000
(8,000
)
4,565
11,584
55,845
8,465
8,769
7,283
(16,343
)
(6,961
)
(5,449
)
(4,069
)
793,450
1,001,472
905,687
(36,073
)
165,339
7,477
341,365
176,026
168,549
$
305,292
341,365
176,026
$
304,088
183,804
102,387
33,821
28,618
18,365
483,723
707,406
722,057
79,832
92,597
72,821
448,409
660,452
686,281
57,088
30,587
59,938
2,439
1,456
1,819
2006
Annual Report
31
Table of Contents
32
Wintrust Financial Corporation
Table of Contents
2006
Annual Report
33
Table of Contents
34
Wintrust Financial Corporation
Table of Contents
2006
Annual Report
35
Table of Contents
36
Wintrust Financial Corporation
Table of Contents
2006
Annual Report
37
Table of Contents
Years Ended December 31,
2005
2004
$
67,016
51,334
(3,313
)
(2,304
)
$
63,703
49,030
$
2.89
2.49
(0.14
)
(0.12
)
$
2.75
2.37
$
2.75
2.34
(0.13
)
(0.11
)
$
2.62
2.23
38
Wintrust Financial Corporation
Table of Contents
December 31, 2006
December 31, 2005
Gross
Gross
Gross
Gross
Amortized
unrealized
unrealized
Fair
Amortized
unrealized
unrealized
Fair
cost
gains
losses
Value
cost
gains
losses
Value
$
35,990
8
(1,926
)
34,072
36,577
(1,991
)
34,586
696,946
396
(6,768
)
690,574
724,273
79
(9,637
)
714,715
49,602
206
(599
)
49,209
48,853
(456
)
48,397
61,246
391
(1,557
)
60,080
8,467
(109
)
8,358
884,130
405
(18,247
)
866,288
891,799
138
(17,870
)
874,067
138,283
1,210
139,493
119,103
158
119,261
$
1,866,197
2,616
(29,097
)
1,839,716
1,829,072
375
(30,063)
1,799,384
2006
Annual Report
39
Table of Contents
Continuous unrealized
Continuous unrealized
losses existing for
losses existing for
less than 12 months
greater than 12 months
Total
Fair
Unrealized
Fair
Unrealized
Fair
Unrealized
value
losses
value
losses
value
losses
$
32,540
(1,926
)
32,540
(1,926
)
90,635
(46
)
279,716
(6,722
)
370,351
(6,768
)
4,910
(273
)
20,158
(326
)
25,068
(599
)
51,582
(1,478
)
7,846
(79
)
59,428
(1,557
)
36,635
(579
)
725,534
(17,668
)
762,169
(18,247
)
$
183,762
(2,376
)
1,065,794
(26,721
)
1,249,556
(29,097
)
December 31, 2006
December 31, 2005
Amortized
Fair
Amortized
Fair
Cost
Value
Cost
Value
$
459,736
458,858
442,526
440,182
58,404
57,814
106,893
105,424
295,613
287,258
254,756
246,516
30,031
30,005
13,995
13,934
884,130
866,288
891,799
874,067
138,283
139,493
119,103
119,261
$
1,866,197
1,839,716
1,829,072
1,799,384
40
Wintrust Financial Corporation
Table of Contents
2006
2005
$
4,068,437
3,161,734
666,471
624,337
207,059
275,729
1,165,846
814,681
249,534
203,002
43,975
49,453
95,158
84,935
$
6,496,480
5,213,871
$
5,772
9,028
(6,657
)
$
8,143
Years
Ended December 31,
2006
2005
2004
$
40,283
34,227
25,541
7,057
6,676
6,298
3,852
4,792
5,110
92
(491
)
(8,477
)
(6,523
)
(4,870
)
3,248
1,602
2,148
$
46,055
40,283
34,227
2006
Annual Report
41
Table of Contents
Years Ended December 31,
2006
2005
2004
$
23,509
18,693
13,724
1,126
1,258
522
10,230
9,331
6,681
140
581
73
13,365
7,496
4,864
2006
2005
$
11,191
11,530
6,165
6,383
1,400
1,319
2006
$
3,630
1,727
579
(802
)
(103
)
$
5,031
$
494,695
2005
2004
$
2,179
2,277
2,064
810
969
(1,423
)
(1,067
)
$
3,630
2,179
$
5,357
2,669
$
521,520
296,758
42
Wintrust Financial Corporation
Table of Contents
$
7,146
77,713
378,883
(3,851
)
71,902
7,930
23,832
$
563,555
$
423,102
2,800
20,395
2,112
115,146
$
563,555
Jan 1,
Goodwill
Impairment
Dec 31,
2006
Acquired
Losses
2006
$
173,640
72,165
245,805
8,958
8,958
14,118
55
14,173
$
196,716
72,220
268,936
December 31,
2006
2005
Gross carrying amount
$
3,252
3,252
(2,463
)
(2,071
)
789
1,181
Gross carrying amount
27,918
19,988
(7,108
)
(3,562
)
20,810
16,426
$
21,599
17,607
2006
2005
$
81,458
53,033
204,249
175,039
71,495
61,407
21,545
13,081
378,747
302,560
67,721
54,735
311,026
247,825
15
50
$
311,041
247,875
2006
Annual Report
43
Table of Contents
2006
2005
$
699,203
620,091
844,875
704,640
529,730
421,301
690,938
610,554
304,362
308,323
4,800,132
4,064,525
$
7,869,240
6,729,434
2006
2005
$
3,704,507
2,732,656
643,252
631,656
185,803
216,086
106,111
160,216
157,783
87,240
2,676
236,671
$
4,800,132
4,064,525
2006
2005
$
25,000
2,001
499
1,009
702
4,955
750
25,000
25,000
3,034
3,070
2,518
2,505
2,509
2,000
2,000
1,986
1,977
3,000
3,000
50,000
2,044
2,061
3,000
3,000
5,026
5,035
2,500
2,500
4,918
3,000
3,000
30,000
30,000
25,000
25,000
35,000
6,249
25,000
25,000
25,000
25,000
25,000
25,000
40,000
40,000
45,000
50,000
$
325,531
349,317
44
Wintrust Financial Corporation
Table of Contents
(13)
Subordinated Notes
2006
2005
$
25,000
25,000
25,000
25,000
25,000
$
75,000
50,000
(14)
Other Borrowings
2006
2005
$
235
159,883
93,312
2,189
2,249
$
162,072
95,796
2006 Annual Report
45
Table of Contents
(15)
Long-term Debt Trust Preferred Securities
2006
2005
$
32,010
25,774
25,774
20,619
20,619
41,238
41,238
51,550
51,550
41,238
41,238
51,547
6,279
6,330
6,301
6,365
5,282
5,334
$
249,828
230,458
46
Wintrust Financial Corporation
Table of Contents
Wintrust Capital Trust III
April 7, 2008
Wintrust Statutory Trust IV
December 31, 2008
Wintrust Statutory Trust V
June 30, 2009
Wintrust Capital Trust VII
March 15, 2010
Wintrust Capital Trust VIII
September 30, 2010
Wintrust Capital Trust IX
September 15, 2011
Northview Capital Trust I
August 8, 2008
Town Bankshares Capital Trust I
August 8, 2008
First Northwest Capital Trust I
May 31, 2009
2006 Annual Report
47
Table of Contents
(16)
Minimum Lease Commitments
Future
Future
minimum
minimum
gross
gross
rental
rental
payments
income
$
5,009
1,699
3,127
1,352
2,637
1,274
2,390
1,149
2,344
579
18,824
3,312
$
34,331
9,365
(17)
Income Taxes
Years Ended December 31,
2006
2005
2004
$
34,667
33,399
23,108
4,288
4,190
3,489
38,955
37,589
26,597
(1,213
)
603
2,678
6
(258
)
278
(1,207
)
345
2,956
$
37,748
37,934
29,553
Years Ended December 31,
2006
2005
2004
$
36,484
36,733
28,311
(777
)
(800
)
(424
)
2,791
2,556
2,449
(968
)
(807
)
(668
)
218
252
(115
)
$
37,748
37,934
29,553
2006
2005
$
17,135
15,121
10,192
11,355
920
1,362
2,090
4,458
2,774
5,002
1,965
690
2,441
1,798
41,510
35,793
11,767
10,060
2,099
1,474
2,120
2,343
11,404
9,227
2,784
4,291
2,464
520
214
33,158
27,609
$
8,352
8,184
48
Wintrust Financial Corporation
Table of Contents
(18)
Employee Benefit and Stock Plans
2006 Annual Report
49
Table of Contents
2006
2005
2004
0.5
%
0.5
%
0.4
%
24.7
%
23.6
%
22.9
%
4.6
%
4.2
%
4.1
%
7.9
8.5
8.4
Weighted
Remaining
Intrinsic
Common
Average
Contractual
Value
(2)
Shares
Strike Prices
Term
(1)
($000)
3,118,005
$
18.75
146,441
23.37
279,100
53.71
(473,999
)
10.13
(22,269
)
24.57
3,047,278
$
23.41
5.5
$
102,070
1,831,222
$
16.07
4.2
$
74,748
3,047,278
$
23.41
5,865
13.35
488,850
53.91
(465,348
)
13.02
(57,163
)
39.22
3,019,482
$
29.63
5.7
$
76,744
1,762,985
$
19.89
4.3
$
61,845
3,019,482
$
29.63
2,046
24.42
221,600
51.03
(400,874
)
15.73
(56,190
)
44.71
2,786,064
$
33.02
5.8
$
47,228
1,774,699
$
24.71
4.6
$
43,029
2,678,821
$
32.45
5.7
$
46,782
(1)
Represents the weighted average contractual remaining life in years.
(2)
Aggregate intrinsic value represents the total pretax intrinsic value (i.e., the
difference between the Companys average of the high and low stock price at year end and
the option exercise price, multiplied by the number of shares) that would have been
received by the option holders if they had exercised their options on the last day of
the year. Options with exercise prices above the year end stock price are excluded from
the calculation of intrinsic value. This amount will change based on the fair market value
of the Companys stock.
50
Wintrust Financial Corporation
Table of Contents
2006
2005
2004
Weighted
Weighted
Weighted
Average
Average
Average
Common
Grant-Date
Common
Grant-Date
Common
Grant-Date
Restricted Shares
Shares
Fair Value
Shares
Fair Value
Shares
Fair Value
206,157
$
53.55
25,512
$
40.68
35,738
$
30.10
207,343
50.63
200,902
53.97
17,126
46.52
(73,694
)
53.48
(19,068
)
40.65
(27,352
)
30.51
(3,902
)
51.87
(1,189
)
54.92
335,904
$
51.78
206,157
$
53.55
25,512
$
40.68
2006 Annual Report
51
Table of Contents
(19)
Regulatory Matters
2006
2005
11.3
%
11.9
%
9.8
10.3
8.2
8.3
52
Wintrust Financial Corporation
Table of Contents
December 31, 2006
December 31, 2005
To Be Well
To Be Well
Capitalized by
Capitalized by
Actual
Regulatory Definition
Actual
Regulatory Definition
Amount
Ratio
Amount
Ratio
Amount
Ratio
Amount
Ratio
$
150,690
11.5
%
$
130,757
10.0
%
$
152,081
10.7
%
$
141,877
10.0
%
126,216
10.7
117,827
10.0
77,300
10.4
74,715
10.0
77,896
10.3
75,622
10.0
75,176
11.3
66,448
10.0
82,297
10.4
78,836
10.0
76,124
10.6
71,852
10.0
72,063
10.3
70,078
10.0
57,476
10.1
57,012
10.0
49,644
10.6
47,028
10.0
39,707
10.7
37,027
10.0
56,788
10.4
54,663
10.0
50,770
10.5
48,333
10.0
22,175
10.4
21,262
10.0
20,082
10.9
18,477
10.0
43,574
10.4
42,091
10.0
36,877
10.6
34,909
10.0
15,713
13.1
11,955
10.0
12,308
12.7
9,690
10.0
40,021
10.6
37,719
10.0
30,399
10.3
29,646
10.0
24,677
10.6
23,244
10.0
9,588
10.6
9,018
10.0
47,020
12.3
38,285
10.0
46,688
14.1
33,131
10.0
19,127
25.3
7,564
10.0
*
*
*
*
11,272
22.6
4,981
10.0
*
*
*
*
$
143,081
10.9
%
$
78,454
6.0
%
$
144,611
10.2
%
$
85,126
6.0
%
117,802
10.0
70,696
6.0
72,145
9.7
44,829
6.0
73,751
9.8
45,373
6.0
71,004
10.7
39,869
6.0
77,079
9.8
47,301
6.0
71,751
10.0
43,111
6.0
68,117
9.7
42,047
6.0
53,714
9.4
34,207
6.0
47,210
10.0
28,217
6.0
37,398
10.1
22,216
6.0
53,595
9.8
32,798
6.0
47,458
9.8
29,000
6.0
20,853
9.8
12,757
6.0
18,679
10.1
11,086
6.0
41,012
9.7
25,254
6.0
34,431
9.9
20,945
6.0
15,051
12.6
7,173
6.0
11,728
12.1
5,814
6.0
37,790
10.0
22,631
6.0
27,998
9.4
17,788
6.0
23,395
10.1
13,934
6.0
9,048
10.0
5,411
6.0
44,288
11.6
22,971
6.0
43,837
13.2
19,879
6.0
18,634
24.6
4,538
6.0
*
*
*
*
11,006
22.1
2,988
6.0
*
*
*
*
$
143,081
9.7
%
$
73,518
5.0
%
$
144,611
10.4
%
$
69,613
5.0
%
117,802
9.8
60,193
5.0
72,145
7.6
47,306
5.0
73,751
7.6
48,437
5.0
71,004
7.5
47,356
5.0
77,079
8.4
45,897
5.0
71,751
8.5
42,095
5.0
68,117
8.0
42,323
5.0
53,714
7.0
38,454
5.0
47,210
8.4
27,988
5.0
37,398
7.4
25,257
5.0
53,595
7.5
35,939
5.0
47,458
7.2
33,118
5.0
20,853
7.7
13,477
5.0
18,679
7.0
13,305
5.0
41,012
6.9
29,601
5.0
34,431
6.2
27,572
5.0
15,051
9.3
8,105
5.0
11,728
9.2
6,375
5.0
37,790
8.5
22,127
5.0
27,998
7.7
18,105
5.0
23,395
9.3
12,560
5.0
9,048
6.0
7,523
5.0
44,288
8.6
25,622
5.0
43,837
8.9
24,587
5.0
18,634
18.0
5,184
5.0
*
*
*
*
11,006
22.9
2,405
5.0
*
*
*
*
*
Opened or acquired in 2006.
2006 Annual Report
53
Table of Contents
(20)
Commitments and Contingencies
54
Wintrust Financial Corporation
Table of Contents
(21)
Derivative Financial Instruments
2006 Annual Report
55
Table of Contents
December 31, 2006
Maturity Date (Call Option Date)
Notional
Fair Value
Receive
Pay
Type of Hedging
Amount
Gain (Loss)
Rate
Rate
Relationship
$
25,000
(276
)
5.37
%
5.26
%
Cash Flow
20,000
(218
)
5.36
%
5.25
%
Cash Flow
40,000
(440
)
5.36
%
5.25
%
Cash Flow
50,000
(813
)
5.36
%
5.30
%
Cash Flow
40,000
(643
)
5.36
%
5.30
%
Cash Flow
$
175,000
(2,390
)
December 31, 2005
$
25,000
(75
)
7.40
%
6.71
%
Not designated
20,000
(362
)
7.33
%
6.40
%
Not designated
40,000
(264
)
7.13
%
6.27
%
Not designated
50,000
(671
)
6.44
%
5.68
%
Not designated
40,000
(664
)
5.98
%
5.27
%
Not designated
25,000
598
4.41
%
4.23
%
Not designated
200,000
(1,438
)
31,050
(371
)
9.00
%
6.35
%
Not designated
$
231,050
(1,809
)
56
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
57
Table of Contents
(22)
Fair Value of Financial Instruments
At December 31, 2006
At December 31, 2005
Carrying
Fair
Carrying
Fair
Value
Value
Value
Value
$
305,292
305,292
341,365
341,365
19,259
19,259
12,240
12,240
1,839,716
1,839,716
1,799,384
1,799,384
2,324
2,324
1,610
1,610
24,040
24,040
27,900
27,900
148,331
148,331
85,985
85,985
6,496,480
6,616,989
5,213,871
5,196,065
121,346
121,346
99,180
99,180
$
8,956,788
9,077,297
7,581,535
7,563,729
$
3,069,108
3,069,108
2,664,909
2,664,909
4,800,132
4,786,022
4,064,525
4,035,534
12,750
12,750
1,000
1,000
325,531
323,962
349,317
346,601
75,000
75,000
50,000
50,000
162,072
162,072
95,796
95,796
249,828
249,431
230,458
230,056
22,861
22,861
16,651
16,651
$
8,717,282
8,701,206
7,472,656
7,440,547
$
18
18
(8
)
(8
)
(2,390
)
(2,390
)
(1,816
)
(1,816
)
58
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
59
Table of Contents
(23)
Shareholders Equity
2006
2005
60,000,000
60,000,000
25,802,024
23,940,744
25,457,935
23,940,744
$0.28
$0.24
20,000,000
20,000,000
2006
2005
2004
$
3,222
(16,824
)
651
(1,160
)
6,399
145
2,062
(10,425
)
796
17
1,063
1,863
(6
)
(407
)
(714
)
11
656
1,149
2,051
(11,081
)
(353
)
(2,390
)
173
242
911
(67
)
(79
)
(1,479
)
106
163
$
572
(10,975
)
(190
)
60
Wintrust Financial Corporation
Table of Contents
2006
2005
2004
$
(18,333
)
(7,358
)
(7,168
)
572
(10,975
)
(190
)
$
(17,761
)
(18,333
)
(7,358
)
2006
2005
2004
$
(16,282
)
(18,333
)
(7,252
)
(1,479
)
(106
)
$
(17,761
)
(18,333
)
(7,358
)
2006 Annual Report
61
Table of Contents
(24)
Segment Information
62
Wintrust Financial Corporation
Table of Contents
Parent &
Premium
Wealth
Intersegment
Banking
Finance
Tricom
Management
Eliminations
Consolidated
$
235,166
42,376
3,914
6,347
(38,917
)
248,886
6,342
2,196
120
(1,601
)
7,057
40,625
2,883
4,598
38,021
5,105
91,232
175,088
10,593
5,370
39,177
(1,408
)
228,820
33,274
12,882
1,207
1,933
(11,548
)
37,748
$
61,087
19,588
1,815
3,258
(19,255
)
66,493
$
9,447,666
1,222,197
57,570
58,378
(1,213,959
)
9,571,852
$
211,705
40,533
4,101
1,419
(40,999
)
216,759
6,501
1,386
15
(1,226
)
6,676
50,995
6,499
4,539
36,619
(5,095
)
93,557
147,512
10,034
5,599
39,017
(3,472
)
198,690
39,240
13,884
1,212
(390
)
(16,012
)
37,934
$
69,447
21,728
1,814
(589
)
(25,384
)
67,016
$
8,065,671
859,536
63,858
61,828
(873,851
)
8,177,042
$
142,511
48,922
3,775
5,252
(42,636
)
157,824
6,211
1,095
5
(1,013
)
6,298
41,418
7,347
3,984
35,396
(2,693
)
85,452
103,245
13,604
5,195
38,953
(4,906
)
156,091
27,099
16,503
1,027
573
(15,649
)
29,553
$
47,374
25,067
1,532
1,122
(23,761
)
51,334
$
6,425,880
774,114
44,614
75,184
(900,744
)
6,419,048
2006 Annual Report
63
Table of Contents
(25)
Condensed Parent Company Financial Statements
(in thousands):
December 31,
2006
2005
$
648
46,696
64,453
14,811
2,300
900
1,064,294
834,574
8,347
8,347
26,046
25,791
$
1,166,088
931,119
$
8,836
19,796
12,750
1,000
75,000
50,000
46,328
1,954
249,828
230,458
773,346
627,911
$
1,166,088
931,119
(in thousands):
Years Ended December 31,
2006
2005
2004
$
183,550
45,125
25,500
8,738
(1,370
)
2,244
921
779
194,532
44,676
26,279
23,609
18,435
10,685
7,071
3,581
2,704
5,445
4,795
3,217
36,125
26,811
16,606
158,407
17,865
9,673
(9,270
)
(10,163
)
(6,091
)
167,677
28,028
15,764
(101,184
)
38,988
35,570
$
66,493
67,016
51,334
64
Wintrust Financial Corporation
Table of Contents
Years Ended December 31,
2006
2005
2004
$
66,493
67,016
51,334
288
103
211
4,117
2,251
254
2,386
(1,189
)
(76
)
5,281
7,038
8,671
(4,565
)
(1,809
)
1,809
(19,106
)
(9,401
)
(11,461
)
8,363
8,842
8,132
101,184
(38,988
)
(35,570
)
162,632
37,481
21,495
(196,050
)
(13,650
)
(49,955
)
(56,821
)
(108,145
)
(37,245
)
(49,233
)
(5,021
)
149
(302,104
)
(126,816
)
(87,051
)
56,165
(7,221
)
(28,870
)
25,000
(8,000
)
50,000
40,000
90,000
(31,050
)
(20,000
)
11,584
55,845
6,373
6,115
4,807
4,565
1,664
1,714
1,330
427
940
1,146
(6,961
)
(5,449
)
(4,069
)
(16,343
)
93,424
71,944
64,344
(46,048
)
(17,391
)
(1,212
)
46,696
64,087
65,299
$
648
46,696
64,087
2006 Annual Report
65
Table of Contents
(26)
Earnings Per Share
2006
2005
2004
(A
)
$
66,493
67,016
51,334
(B
)
25,011
23,198
20,646
916
1,139
1,326
(C
)
25,927
24,337
21,972
(A/B
)
$
2.66
2.89
2.49
(A/C
)
$
2.56
2.75
2.34
(27)
Quarterly Financial Summary (Unaudited)
2006 Quarters
2005 Quarters
First
Second
Third
Fourth
First
Second
Third
Fourth
$
120,297
135,116
148,893
153,640
87,322
98,676
106,472
114,565
63,133
73,874
83,778
88,274
37,409
44,794
50,503
57,572
57,164
61,242
65,115
65,366
49,913
53,882
55,969
56,993
1,536
1,743
1,885
1,893
1,231
1,294
3,077
1,073
55,628
59,499
63,230
63,473
48,682
52,588
52,892
55,920
28,645
24,388
18,833
19,350
24,380
15,563
28,403
24,148
80
(95
)
(57
)
89
978
89
(4
)
54,460
55,907
58,989
59,465
48,304
49,016
50,326
51,044
29,893
27,885
23,017
23,447
24,758
20,113
31,058
29,020
10,880
10,274
8,158
8,437
9,085
7,134
11,350
10,364
$
19,013
17,611
14,859
15,010
15,673
12,979
19,708
18,656
$
0.79
0.71
0.58
0.59
0.72
0.55
0.83
0.78
$
0.76
0.69
0.56
0.57
0.68
0.53
0.80
0.75
$
0.14
0.14
0.12
0.12
66
Wintrust Financial Corporation
Table of Contents
Wintrust Financial Corporation
February 28, 2007
2006 Annual Report
67
Table of Contents
Years Ended
% or
December 31,
Basis point
2006
2005
(bp)change
$
66,493
$
67,016
(1
)%
$
2.56
$
2.75
(7
)%
$
340,118
$
310,316
10
%
$
248,886
$
216,759
15
%
3.10
%
3.16
%
(6
) bp
3.31
%
3.37
%
(6
) bp
1.54
%
1.39
%
15
bp
66.96
%
63.97
%
299
bp
0.74
%
0.88
%
(14
) bp
9.47
%
11.00
%
(153
) bp
$
9,571,852
$
8,177,042
17
%
$
6,496,480
$
5,213,871
25
%
$
7,869,240
$
6,729,434
17
%
$
773,346
$
627,911
23
%
$
30.38
$
26.23
16
%
$
48.02
$
54.90
(13
)%
25,457,935
23,940,744
6
%
(1)
Net revenue is net interest income plus non-interest income.
(2)
Core net interest margin excludes the effect of the net interest expense associated
with Wintrusts Long-term Debt Trust Preferred Securities.
(3)
The net overhead ratio is calculated by netting total non-interest expense and
total non-interest income and dividing by that periods total average assets. A lower
ratio indicates a higher degree of efficiency.
(4)
The efficiency ratio is calculated by dividing total non-interest expense by
tax-equivalent net revenue (excluding securities gains or losses). A lower ratio indicates
more efficient revenue generation.
(5)
See Non-GAAP Financial Measures/Ratios for additional information on this
performance measure/ratio.
68
Wintrust Financial Corporation
Table of Contents
Years Ended
December 31,
2006
2005
2004
$
557,945
$
407,036
$
261,746
409
531
450
1,195
777
285
17
19
50
$
559,566
$
408,363
$
262,531
309,059
190,277
103,922
$
250,507
$
218,086
$
158,609
$
248,886
$
216,759
$
157,824
$
250,507
$
218,086
$
158,609
17,611
14,672
7,213
$
268,118
$
232,758
$
165,822
3.07
%
3.14
%
3.15
%
3.10
%
3.16
%
3.17
%
3.31
%
3.37
%
3.31
%
67.28
%
64.25
%
64.66
%
66.96
%
63.97
%
64.45
%
(1)
Interest expense from the long-term debt trust preferred securities is net of the
interest income on the Common Securities owned by the Trusts and included in interest
income.
(2)
Core net interest income and core net interest margin are by definition a non-GAAP
measure/ratio. The GAAP equivalents are the net interest income and net interest margin
determined in accordance with GAAP (lines C and D in the table).
2006 Annual Report
69
Table of Contents
Old Plank Trail Bank in Frankfort, Illinois
St. Charles, Illinois, a branch of St. Charles Bank
Algonquin Bank & Trust, a branch of Crystal Lake Bank
Mokena, Illinois, a branch of Old Plank Trail Bank
Elm Grove, Wisconsin, a branch of Town Bank
New Lenox, Illinois, a branch of Old Plank Trail Bank
Hinsbrook Bank with locations in Willowbrook, Downers Grove, Glen Ellyn, Darien and Geneva
Wales, Wisconsin, a branch of Town Bank
Glen Ellyn Bank, a branch of Wheaton Bank
West Northbrook, a branch of Northbrook Bank
Lake Bluff drive through facility added to existing banking office; a branch of Lake Forest Bank
Northwest Highway in Barrington, a branch of Barrington Bank
Palatine Bank & Trust, a branch of Barrington Bank
State Bank of The Lakes with locations in Antioch, Lindenhurst, Grayslake, Spring Grove and McHenry
First Northwest Bank with two locations in Arlington Heights
Wayne Hummer Bank, a branch of North Shore Bank
Beverly Bank
Community Bank of Downers Grove, a branch of Hinsdale Bank
Buffalo Grove Bank, a branch of Northbrook Bank
Highland Park Bank Ravinia, a branch of Lake Forest Bank
Gurnee Community Bank, a branch of Libertyville Bank
Lake Villa Community Bank, a branch of Libertyville Bank
Sauganash, a branch of North Shore Bank
Northview Bank with two locations in Northfield, one in Wheaton and one in Mundelein
Town Bank, with locations in Delafield and Madison, Wisconsin
70
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
71
Table of Contents
72
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
73
Table of Contents
74
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
75
Table of Contents
Years Ended December 31,
2006
2005
2004
Average
Average
Average
Average
Yield/
Average
Yield/
Average
Yield/
Balance
(1)
Interest
Rate
Balance
(1)
Interest
Rate
Balance
(1)
Interest
Rate
$
13,361
$
651
4.87
%
$
9,003
$
278
3.10
%
$
5,447
$
80
1.47
%
1,930,662
94,593
4.90
1,627,523
67,333
4.14
1,031,574
41,176
3.99
110,775
5,393
4.87
102,199
3,485
3.41
71,870
934
1.30
2,054,798
100,637
4.90
1,738,725
71,096
4.09
1,108,891
42,190
3.80
29,675
2,136
7.20
23,644
1,345
5.69
38,901
1,593
4.10
6,013,344
456,793
7.60
5,137,912
335,922
6.54
3,861,683
218,748
5.66
8,097,817
559,566
6.91
6,900,281
408,363
5.92
5,009,475
262,531
5.24
(44,648
)
(40,566
)
(30,014
)
125,253
138,253
92,299
747,135
589,634
379,767
$
8,925,557
$
7,587,602
$
5,451,527
$
811,727
$
19,548
2.41
%
$
699,323
$
11,973
1.71
%
$
481,759
$
4,805
1.00
%
464,438
20,456
4.40
407,816
10,181
2.50
360,047
2,513
0.70
639,590
17,497
2.74
657,788
11,071
1.68
528,831
5,248
0.99
307,142
4,275
1.39
298,468
2,629
0.88
197,132
1,033
0.52
4,472,242
203,953
4.56
3,507,771
120,398
3.43
2,433,036
69,536
2.86
6,695,139
265,729
3.97
5,571,166
156,252
2.80
4,000,805
83,135
2.08
364,149
14,675
4.03
333,108
11,912
3.58
222,278
8,070
3.63
149,764
5,638
3.76
167,930
4,178
2.49
154,577
2,358
1.53
66,742
4,695
6.94
50,000
2,829
5.66
50,000
2,891
5.78
237,249
18,322
7.62
217,983
15,106
6.93
130,830
7,468
5.71
7,513,043
309,059
4.11
6,340,187
190,277
3.00
4,558,490
103,922
2.28
623,542
592,879
400,333
87,178
45,369
101,369
701,794
609,167
391,335
$
8,925,557
$
7,587,602
$
5,451,527
2.80
%
2.92
%
2.96
%
$
584,774
0.30
%
$
560,094
0.24
%
$
450,985
0.21
%
$
250,507
3.10
%
$
218,086
3.16
%
$
158,609
3.17
%
3.31
%
3.37
%
3.31
%
(1)
Average balances were generally computed using daily balances.
(2)
Interest income on tax-advantaged loans, trading account securities and securities
reflects a tax-equivalent adjustment based on a marginal federal corporate tax rate of
35%. The total adjustments reflected in the above table are $1.621 million, $1.327 million
and $785,000 in 2006, 2005 and 2004 respectively.
(3)
Other earning assets include brokerage customer receivables and trading account
securities.
(4)
Loans, net of unearned income, include mortgages held-for-sale and non-accrual loans.
(5)
Interest rate spread is the difference between the yield earned on earning assets and
the rate paid on interest-bearing liabilities.
(6)
Net free funds are the difference between total average earning assets and total
average interest-bearing liabilities. The estimated contribution to net interest margin
from net free funds is calculated using the rate paid for total interest-bearing
liabilities.
(7)
The core net interest margin excludes the effect of the net interest expense
associated with Wintrusts Long-term Debt Trust Preferred Securities.
(8)
See Non-GAAP Financial Measures/Ratios for additional information on this
performance measure/ratio.
76
Wintrust Financial Corporation
Table of Contents
Years Ended December 31,
2006 Compared to 2005
2005 Compared to 2004
Change
Change
Change
Change
Due to
Due to
Total
Due to
Due to
Total
Rate
Volume
Change
Rate
Volume
Change
$
202
171
373
$
125
73
198
13,536
13,724
27,260
1,604
24,553
26,157
1,595
313
1,908
2,027
524
2,551
15,333
14,208
29,541
3,756
25,150
28,906
404
387
791
499
(747
)
(248
)
58,934
61,937
120,871
37,659
79,515
117,174
74,671
76,532
151,203
41,914
103,918
145,832
5,437
2,138
7,575
4,394
2,774
7,168
8,690
1,585
10,275
7,298
370
7,668
6,742
(316
)
6,426
4,321
1,502
5,823
1,567
79
1,646
915
681
1,596
51,354
32,201
83,555
15,881
34,981
50,862
73,790
35,687
109,477
32,809
40,308
73,117
1,587
1,176
2,763
(111
)
3,953
3,842
2,849
(1,389
)
1,460
1,694
126
1,820
786
1,080
1,866
(54
)
(8
)
(62
)
1,822
1,394
3,216
2,037
5,601
7,638
80,834
37,948
118,782
36,375
49,980
86,355
$
(6,163
)
38,584
32,421
$
5,539
53,938
59,477
2006 Annual Report
77
Table of Contents
Years ended December 31,
2006 compared to 2005
2005 compared to 2004
2006
2005
2004
$ Change
% Change
$ Change
% Change
$
19,615
20,154
22,892
$
(539
)
(2.7)
%
$
(2,738
)
(12.0)
%
12,105
9,854
8,764
2,251
22.9
1,090
12.4
31,720
30,008
31,656
1,712
5.7
(1,648
)
(5.2
)
22,341
25,913
18,250
(3,572
)
(13.8
)
7,663
42.0
7,146
5,983
4,100
1,163
19.4
1,883
45.9
2,883
6,499
7,347
(3,616
)
(55.6
)
(848
)
(11.5
)
4,598
4,539
3,984
59
1.3
555
13.9
17
1,063
1,863
(1,046
)
(98.4
)
(800
)
(42.9
)
3,157
11,434
11,121
(8,277
)
(72.4
)
313
2.8
1,237
440
797
181.1
440
NM
7,514
(1,339
)
8,853
661.2
(1,339
)
NM
2,948
2,431
1,997
517
21.3
434
21.7
7,671
6,586
5,134
1,085
16.5
1,452
28.3
22,527
19,552
18,252
2,975
15.2
1,300
7.1
$
91,232
93,557
85,452
$
(2,325
)
(2.5)
%
$
8,105
9.5
%
78
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
79
Table of Contents
80
Wintrust Financial Corporation
Table of Contents
Years ended December 31,
2006 compared to 2005
2005 compared to 2004
2006
2005
2004
$ Change
% Change
$ Change
% Change
$
137,008
118,071
94,049
$
18,937
16.0
%
$
24,022
25.5
%
13,529
11,779
9,074
1,750
14.9
2,705
29.8
19,807
16,176
10,083
3,631
22.4
6,093
60.4
8,493
7,129
5,560
1,364
19.1
1,569
28.2
5,074
4,970
3,403
104
2.1
1,567
46.0
6,172
5,609
5,376
563
10.0
233
4.3
3,938
3,394
1,110
544
16.1
2,284
205.8
3,842
3,823
4,125
19
0.5
(302
)
(7.3
)
3,940
3,665
3,064
275
7.5
601
19.6
3,233
3,262
2,569
(29
)
(0.9
)
693
27.0
23,784
20,812
17,678
2,972
14.3
3,134
17.7
34,799
31,562
27,436
3,237
10.3
4,126
15.0
$
228,820
198,690
156,091
$
30,130
15.2
%
$
42,599
27.3
%
2006 Annual Report
81
Table of Contents
82
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
83
Table of Contents
84
Wintrust Financial Corporation
Table of Contents
Years Ended December 31,
2006
2005
2004
Average
Percent
Average
Percent
Average
Percent
Balance
of Total
Balance
of Total
Balance
of Total
$
3,647,982
45
%
$
2,931,230
42
%
$
1,967,119
39
%
641,494
8
621,160
9
509,840
10
365,159
5
401,473
6
305,050
6
989,689
12
847,970
12
798,970
16
229,757
3
195,697
3
177,352
4
41,703
1
36,599
1
26,501
97,560
1
103,783
2
76,851
2
6,013,344
75
5,137,912
75
3,861,683
77
2,054,798
25
1,738,725
25
1,108,891
22
29,675
23,644
38,901
1
$
8,097,817
100
%
$
6,900,281
100
%
$
5,009,475
100
%
$
8,925,557
$
7,587,602
$
5,451,527
91
%
91
%
92
%
(1)
Includes mortgage loans held-for-sale
(2)
Includes non-accrual loans
(3)
Includes available-for-sale securities, interest earning deposits with banks and
federal funds sold and securities purchased under resale agreements
(4)
Includes brokerage customer receivables and trading account securities
2006 Annual Report
85
Table of Contents
86
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
87
Table of Contents
Years Ended December 31,
2006
2005
2004
Average
Percent
Average
Percent
Average
Percent
Balance
of Total
Balance
of Total
Balance
of Total
$
623,542
9
%
$
592,879
9
%
$
400,333
9
%
774,481
10
699,323
11
481,759
11
464,438
6
407,816
7
360,047
8
639,590
9
657,788
11
528,831
12
307,142
4
298,468
5
197,132
5
4,509,488
62
3,507,771
57
2,433,036
55
$
7,318,681
100
%
$
6,164,045
100
%
$
4,401,138
100
%
Years Ended December 31,
2006
2005
2004
Average
Percent
Average
Percent
Average
Percent
Balance
of Total
Balance
of Total
Balance
of Total
$
1,048,493
14
%
$
947,014
15
%
$
827,063
19
%
888,430
12
740,092
12
658,407
15
819,010
11
767,464
12
718,299
16
741,231
10
662,330
11
527,179
12
707,620
10
653,509
11
543,401
12
457,486
6
410,168
7
392,095
9
632,337
9
554,717
9
280,514
6
219,689
3
209,136
3
177,243
4
504,021
7
359,224
6
128,730
3
138,800
2
83,285
1
25,151
1
157,440
2
94,194
2
64,324
2
358,295
5
283,548
5
58,732
1
418,805
6
399,364
6
44,569
1
182,455
2
$
7,318,681
100
%
$
6,164,045
100
%
$
4,401,138
100
%
19
%
40
%
28
%
(1)
For 2005, represents effect on consolidated average deposits from effective
acquisition date of March 31, 2005 for First
Northwest Bank, which was merged with Village Bank. At December 31, 2005, Village Bank had
total deposits of $498.0 million.
(2)
For 2004, represents effect on consolidated average deposits from effective
organization date of April 1, 2004 for Beverly Bank. At December 31, 2004, Beverly Bank
had total deposits of $58.1 million.
(3)
For 2004, represents effect on consolidated average deposits from effective
acquisition dates of September 30, 2004 for Wheaton Bank and October 1, 2004 for Town
Bank. At December 31, 2004, Wheaton Bank had total deposits of $64.6 million and Town Bank
had total deposits of $242.8 million.
(4)
For 2006, represents effect on consolidated average deposits from effective
organization date of March 23, 2006 for Old Plank Trail Bank. At December 31, 2006, Old
Plank Trail Bank had total deposits of $92.0 million.
(5)
For 2006, represents effect on consolidated average deposits from effective
acquisition date of May 31, 2006 for Hinsbrook Bank. Branches (and related deposits) from
Hinsbrook Bank were sold to Hinsdale Bank and Wheaton Bank in the fourth quarter of 2006.
Hinsbrooks Geneva branch was renamed St. Charles Bank.
88
Wintrust Financial Corporation
Table of Contents
Years Ended December 31,
2006
2005
2004
Average
Percent
Average
Percent
Average
Percent
Balance
of Total
Balance
of Total
Balance
of Total
$
6,913
1
%
$
12,100
2
%
$
5,004
1
%
364,149
45
333,108
43
222,278
40
66,742
8
50,000
7
50,000
9
140,968
17
152,575
20
114,831
21
10,016
2
237,249
29
217,983
28
130,830
23
1,883
3,255
24,726
4
$
817,904
100
%
$
769,021
100
%
$
557,685
100
%
2006 Annual Report
89
Table of Contents
90
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
91
Table of Contents
Time to Maturity or Repricing
0-90
91-365
1-5
Over 5
(Dollars in thousands)
Days
Days
Years
Years
Total
$
136,221
136,221
19,259
19,259
383,078
226,416
373,282
856,940
1,839,716
538,558
226,416
373,282
856,940
1,995,196
3,844,436
1,391,481
1,307,590
101,304
6,644,811
26,364
26,364
4,409,358
1,617,897
1,680,872
958,244
8,666,371
905,481
905,481
$
4,409,358
1,617,897
1,680,872
1,863,725
9,571,852
$
3,800,351
2,311,763
1,024,835
33,088
7,170,037
27,505
12,018
101,008
185,000
325,531
172,910
1,912
174,822
75,000
75,000
192,002
57,826
249,828
4,267,768
2,323,781
1,185,581
218,088
7,995,218
699,203
699,203
104,085
104,085
773,346
773,346
(175,000
)
85,000
90,000
$
4,092,768
2,323,781
1,270,581
1,884,722
9,571,852
$
316,590
(705,884
)
410,291
(20,997
)
$
316,590
(389,294
)
20,997
108
%
94
%
101
%
46
%
63
%
81
%
43
%
67
%
80
%
3
%
(4
)%
0
%
7
%
(6
)%
0
%
(1)
Loans, net of unearned income, include mortgages held-for-sale and nonaccrual loans.
(2)
Non-contractual interest-bearing deposits are subject to immediate withdrawal and,
therefore, are included in 0-90 days.
(3)
Excludes interest rate swaps to qualified commercial customers as they are offset
with interest rate swaps entered into with a third party and have no effect on
asset-liability management. See Note 21 of the Consolidated Financial Statements for
further discussion of these interest rate swaps.
92
Wintrust Financial Corporation
Table of Contents
+ 200
+ 100
- 100
- 200
Basis
Basis
Basis
Basis
Points
Points
Points
Points
4.6
%
1.7
%
(2.0
)%
(7.2
)%
1.4
%
1.1
%
(3.9
)%
(8.7
)%
Wintrusts
Wintrusts
Well
Ratios at
Ratios at
Minimum
Capitalized
Year-end
Year-end
Ratios
Ratios
2006
2005
4.0
%
5.0
%
8.2
%
8.3
%
4.0
%
6.0
%
9.8
%
10.3
%
8.0
%
10.0
%
11.3
%
11.9
%
N/A
N/A
7.9
%
8.0
%
2006 Annual Report
93
Table of Contents
Record
Payable
Cash Dividend
Date
Date
per share
February 24, 2000
$
0.0333
August 24, 2000
0.0333
February 22, 2001
0.0467
August 23, 2001
0.0467
February 19, 2002
0.0600
August 20, 2002
0.0600
February 20, 2003
0.0800
August 20, 2003
0.0800
February 19, 2004
0.1000
August 24, 2004
0.1000
February 22, 2005
0.1200
August 23, 2005
0.1200
February 23, 2006
0.1400
August 24, 2006
0.1400
February 22, 2007
0.1600
94
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
95
Table of Contents
Payments Due In
Note
One Year
1 - 3
3 - 5
Over
Reference
or Less
Years
Years
5 Years
Total
(in thousands)
10
$
7,010,782
829,055
263,894
2,676
8,106,407
11
11,750
1,000
12,750
12
28,000
17,000
70,500
210,000
325,500
13
75,000
75,000
14
160,072
2,000
162,072
15
249,493
249,493
16
5,009
5,764
4,734
18,824
34,331
37,347
17,014
21,165
233
75,759
(1)
Excludes basis adjustment for purchase accounting valuations.
(2)
Certain advances provide the FHLB with one-time call dates which are not reflected in
the above table.
(3)
Purchase obligations presented above primarily relate to certain contractual
obligations for services related to the construction of facilities, data processing and
the outsourcing of certain operational activities.
One Year
1 - 3
3 - 5
Over
or Less
Years
Years
5 Years
Total
(in thousands)
$
1,220,274
378,949
52,819
10,618
1,662,660
117,795
117,795
846,821
846,821
96,246
59,030
19,810
175
175,261
262,712
262,712
96
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
97
Table of Contents
2006
2005
2004
2003
2002
$
40,283
34,227
25,541
18,390
13,686
7,057
6,676
6,298
10,999
10,321
3,852
4,792
5,110
1,602
92
(491
)
4,534
3,252
2,356
2,382
1,677
97
88
358
81
198
3
371
363
204
222
294
2,760
2,067
1,852
2,558
3,680
584
555
425
937
925
50
33
10
8,477
6,523
4,870
6,457
6,589
2,299
527
1,148
339
314
31
6
39
2
13
148
243
104
40
26
567
677
738
399
456
191
155
152
173
150
10
4
26
3,248
1,602
2,148
1,007
972
(5,229
)
(4,921
)
(2,722
)
(5,450
)
(5,617
)
$
46,055
40,283
34,227
25,541
18,390
457
491
$
46,512
40,774
34,227
25,541
18,390
0.06
%
0.09
%
0.06
%
0.14
%
0.12
%
0.01
0.01
0.08
0.02
0.05
(0.01
)
0.23
0.12
0.13
0.34
0.44
0.22
0.16
0.14
0.34
0.70
0.17
0.20
0.15
0.45
0.42
0.10
0.12
(0.02
)
(0.08
)
0.09
%
0.10
%
0.07
%
0.18
%
0.24
%
74.10
%
73.71
%
43.22
%
49.55
%
54.42
%
$
6,496,480
5,213,871
4,348,346
3,297,794
2,556,086
0.71
%
0.77
%
0.79
%
0.77
%
0.72
%
0.72
%
0.78
%
0.79
%
0.77
%
0.72
%
98
Wintrust Financial Corporation
Table of Contents
2006 Annual Report
99
Table of Contents
2006
2005
2004
2003
2002
$
308
159
32
8,454
1,898
715
1,024
3,047
4,306
5,211
3,869
3,439
2,198
297
228
280
313
423
13,365
7,496
4,864
4,776
5,700
1,738
457
2,660
3,217
711
12,959
11,712
3,550
9,646
1,132
8,112
6,189
7,396
5,994
4,725
376
335
118
107
254
324
20
23,509
18,693
13,724
18,964
6,842
2,046
616
2,660
3,217
743
21,413
13,610
4,265
10,670
4,179
12,418
11,400
11,265
9,433
6,923
673
563
398
420
677
324
20
36,874
26,189
18,588
23,740
12,542
572
1,400
368
76
$
37,446
27,589
18,588
24,108
12,618
0.23
%
0.07
%
0.32
%
0.48
%
0.14
%
0.51
0.42
0.17
0.63
0.30
1.07
1.40
1.46
1.26
1.50
0.27
0.28
0.23
0.24
0.38
0.74
0.10
0.57
%
0.50
%
0.43
%
0.72
%
0.49
%
0.39
%
0.34
%
0.29
%
0.51
%
0.34
%
123.90
%
153.82
%
184.13
%
107.59
%
146.63
%
100
Wintrust Financial Corporation
Table of Contents
2006
2005
$
12,418
$
11,400
1.07
%
1.40
%
$
2,193
$
1,390
0.22
%
0.16
%
2006 Annual Report
101
Table of Contents
102
Wintrust Financial Corporation
Table of Contents
Competitive pressures in the financial services business which may affect the pricing
of the Companys loan and deposit products as well as its services (including wealth
management services).
Changes in the interest rate environment, which may influence, among other things,
the growth of loans and deposits, the quality of the Companys loan portfolio, the
pricing of loans and deposits and interest income
The extent of defaults and losses on our loan portfolio.
Unexpected difficulties or unanticipated developments related to the Companys
strategy of
de novo
bank formations and openings.
De novo
banks typically require 13 to 24 months of operations before becoming profitable, due to
the impact of organizational and overhead expenses, the startup phase of generating
deposits and the time lag typically involved in redeploying deposits into attractively
priced loans and other higher yielding earning assets.
The ability of the Company to obtain liquidity and income from the sale of premium
finance receivables in the future and the unique collection and delinquency risks
associated with such loans.
Failure to identify and complete acquisitions in the future or unexpected
difficulties or unanticipated developments related to the integration of acquired
entities with the Company.
Legislative or regulatory changes or actions, or significant litigation involving the Company.
Changes in general economic conditions in the markets in which the Company operates.
The ability of the Company to receive dividends from its subsidiaries.
The loss of customers as a result of technological changes allowing consumers to
complete their financial transactions without the use of a bank.
The ability of the Company to attract and retain senior management experienced in the
banking and financial services industries.
2006 Annual Report
103
Table of Contents
Lake Forest, IL 60045
847-615-4096
727 North Bank Lane
Lake Forest, IL 60045
847-234-2882
780 North Bank Lane
Lake Forest, IL 60045
847-615-4022
810 South Waukegan Avenue
Lake Forest, IL 60045
847-615-4080
911 Telegraph Road
Lake Forest, IL 60045
847-615-4098
Lake Bluff, IL 60044
847-615-4060
Highwood, IL 60040
847-266-7600
www.bankofhwfs.com
Highland Park, IL 60035
847-432-9988
www.highlandparkbank.com
Highland Park, IL 60035
847-266-0300
North Chicago, IL 60064
847-473-3006
www.nchicagobank.com
25 East First Street
Hinsdale, IL 60521
630-323-4404
130 West Chestnut
Hinsdale, IL 60521
630-655-8025
Clarendon Hills, IL 60514
630-323-1240
www.clarendonhillsbank.com
5 South Walker Ave
Clarendon Hills, IL 60514
Western Springs, IL 60558
708-246-7100
www.communitybankws.com
Riverside, IL 60546
708-447-3222
www.bankriverside.com
Downers Grove, IL 60515
630-968-4700
Downers Grove, IL 60515
630-435-3600
www.downersgrovebank.com
Willowbrook, IL 60527
630-920-2700
www.hinsbrookbank.com
Route 83 at 67th Street
Darien, IL 60561
Bank & Trust Company
1145 Wilmette Avenue
Wilmette, IL 60091
847-853-1145
720 12th Street
Wilmette, IL 60091
351 Linden Ave
Wilmette, IL 60091
Glencoe, IL 60022
847-835-1700
633 Vernon Avenue
Glencoe, IL 60022
Winnetka, IL 60093
847-441-2265
Skokie, IL 60077
847-933-1900
Chicago, IL 60646
773-545-5700
Trust Company
507 North Milwaukee Avenue
Libertyville, IL 60048
847-367-6800
201 Hurlburt Court
Libertyville, IL 60048
847-247-4045
104
Wintrust Financial Corporation
Table of Contents
1200 South Milwaukee Avenue
Libertyville, IL 60048
847-367-6800
495 West Liberty Street
Wauconda, IL 60084
847-487-2500
www.waucondabank.com
1180 Dato Lane
Wauconda, IL 60084
847-487-3770
Gurnee, IL 60031
847-625-3800
www.gurneebank.com
Lake Villa, IL 60046
847-265-0300
www.lakevillabank.com
Mundelein, IL 60060
847-837-1110
www.mundeleinbank.com
Trust Company, N.A.
201 S. Hough Street
Barrington, IL 60010
847-842-4500
233 W. Northwest Highway
Barrington, IL 60010
847-381-1715
217 S. Hough Street
Barrington, IL 60010
847-842-4500
Barrington, IL 60010
847-842-7980
www.communityadvantage.com
Barrington, IL 60010
847-842-7980
www.physiciansfinancialcare.com
Hoffman Estates, IL 60195
847-963-9500
www.hecommunitybank.com
Palatine, IL 60067
847-963-0047
www.palatinebank.com
Trust Company, N.A.
70 N. Williams Street
Crystal Lake, IL 60014
815-479-5200
27 N. Main Street
Crystal Lake, IL 60014
1000 McHenry Avenue
Crystal Lake, IL 60014
815-479-5715
McHenry, IL 60050
815-344-6600
www.mchenrybank.com
Cary, IL 60013
847-462-8881
www.carybank.com
Algonquin, IL 60102
847-669-7500
www.bankalgonquin.com
Crystal Lake, IL 60014
1-877-FLYMONEY
www.namaf.com
1100 Waukegan Road
Northbrook, IL 60062
847-418-2800
Northbrook, IL 60062
847-418-2850
Buffalo Grove, IL 60089
847-634-8400
www.buffalogrovebank.com
Northfield, IL 60093
847-446-0245
www.northview.com
Northfield, IL 60093
847-441-1751
75 East Turner Avenue
Elk Grove Village, IL 60007
847-364-0100
Roselle, IL 60172
630-529-0100
2006 Annual Report
105
Table of Contents
234 West Northwest Highway
Arlington Heights, IL 60004
847-670-1000
Arlington Heights, IL 60004
847-870-5000
Arlington Heights, IL 60005
847-483-6000
Arlington Heights, IL 60004
847-483-6000
10258 South Western Avenue
Chicago, IL 60643
773-239-2265
Chicago, IL 60643
773-239-2265
Delafield, WI 53018
262-646-6888
Street Madison, WI 53703
608-282-4840
Wales, WI 53183
262-968-1740
Elm Grove, WI 53122
262-789-8696
Wheaton, IL 60187
630-690-1800
Glen Ellyn, IL 60137
630-469-4501
www.glenellynbank.com
Glen Ellyn, IL 60137
630-469-3000
Antioch, IL 60002
847-395-2700
Lindenhurst, IL 60046
847-356-5700
Grayslake, IL 60030
847-548-2700
Spring Grove, IL 60081
815-675-3700
McHenry, IL 60050
815-344-5100
Frankfort, IL 60423
815-464-6888
Mokena, IL 60448
708-478-4447
New Lenox, IL 60451
815-485-0001
St. Charles, IL 60174
630-377-9500
Geneva, IL 60134
630-845-4800
Northbrook, IL 60062
847-374-3000
Menomonee Falls, WI 53051
262-509-6200
Technology Services Company
Villa Park, IL 60181
630-516-4050
106
Wintrust Financial Corporation
Table of Contents
Wayne Hummer Trust Company, N.A
Wayne Hummer Asset Management
Company
Algonquin, IL 60102
815-479-1710
Antioch, IL 60002
847-395-2700
Arlington Heights, IL 60005
847-483-6039
Barrington, IL 60010
847-842-4500
Chicago, IL 60646
847-251-4385
Chicago, IL 60643
773-298-6205
Chicago, IL 60643
773-239-2265
Downers Grove, IL 60515
630-325-6571
Elk Grove Village, IL 60007
847-879-7935
Grayslake, IL 60030
847-838-7605/7608
Gurnee, IL 60031
847-549-1578
Highland Park, IL 60035
847-810-5025
Hinsdale, IL 60521
630-323-4404
Lake Forest, IL 60045
847-234-2882
Lake Forest, IL 60045
847-615-4080
Libertyville, IL 60048
847-573-1633
McHenry, IL 60050
815-344-6600
New Lenox, IL 60451
815-462-5510
Northbrook, IL 60062
847-418-2813
Northfield, IL 60093
847-446-4378
Western Springs, IL 60558
708-246-0203
Wheaton, IL 60187
630-588-4090
Willowbrook, IL 60527
630-920-2700
Wilmette, IL 60091
866-713-7227
Wilmette, IL 60091
847-853-2093
Appleton, WI 54911
920-734-1475
Delafield, WI 53018
262-646-3157
Greenwood Village, Colorado 80111
303-771-2800
Oakbrook Terrace, Illinois 60181
630-916-9299
Scottsdale, AZ
Walnut Creek, CA
Fort Myers, FL
Chicago, IL
Matteson, IL
Oakbrook Terrace, IL
Schaumburg, IL
Tinley Park, IL
Warsaw, IN
Overland Park, KS
Charlotte, NC
Ocean, NJ
2006 Annual Report
107
Table of Contents
10:00 a.m.
Michigan
Shores Club
911
Michigan Avenue
Wilmette, Illinois
209 West Jackson Boulevard
Suite 903
Chicago, Illinois 60606
Telephone: 312-427-2953
Facsimile: 312-427-2879
108
Wintrust Financial Corporation
December 31, 2006
Subsidiary
State of Organization or Incorporation
Illinois
Illinois
Illinois
Illinois
National Banking Association
National Banking Association
Illinois
National Banking Association
Illinois
National Banking Association
Illinois
Illinois
National Banking Association
Illinois
Illinois
Illinois
Wisconsin
Illinois
Delaware
Illinois
Wisconsin
National Banking Association
Delaware
Connecticut
Connecticut
Delaware
Delaware
Delaware
Delaware
Delaware
Delaware
Illinois
Delaware
Illinois
Colorado
Illinois
(1) | Form S-8 Nos. 333-140141, 333-136964, 333-61678, 333-33459, 333-52650, 333-96983, 333-52652, 333-124433, 333-111277, 333-119979, 333-119976 and 333-117044; | ||
(2) | Form S-3 Nos. 333-56566, 333-84188, 333-103134, 333-115898 and 333-119345; and | ||
(3) | Form S-4 Nos. 333-130897 and 333-122178 |
1. | I have reviewed this annual report on Form 10-K of Wintrust Financial Corporation; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounted principles; | ||
c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and | ||
d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of registrants board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | ||
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
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/s/ EDWARD J. WEHMER | ||
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Name: Edward J. Wehmer
Title: President and Chief Executive Officer |
1. | I have reviewed this annual report on Form 10-K of Wintrust Financial Corporation; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounted principles; | ||
c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and | ||
d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of registrants board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | ||
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
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/s/ DAVID L. STOEHR | ||
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Name: David L. Stoehr | ||
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Title: Executive Vice President and
Chief Financial Officer |
(1) |
The Annual Report of the Company on Form 10-K for the year ended December 31,
2006, as filed with the Securities and Exchange Commission on March 1, 2007, (the
Report) fully complies with the requirements of Section
13(a) or
15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and |
||
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ EDWARD J. WEHMER | |||||
|
Name: | Edward J. Wehmer | |||
|
Title: | President and Chief Executive Officer | |||
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Date: | March 1, 2007 | |||
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|||||
/s/ DAVID L. STOEHR | |||||
|
Name: | David L. Stoehr | |||
|
Title: | Executive Vice President and | |||
|
Chief Financial Officer | ||||
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Date: | March 1, 2007 |
$___,000,000 | Dated as of June 1, 2006 |
WINTRUST FINANCIAL CORPORATION | ||||
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Its: | |||
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$50,000,000 | Dated as of July 27, 2006 |
WINTRUST FINANCIAL CORPORATION | ||||||
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LASALLE BANK NATIONAL ASSOCIATION | WINTRUST FINANCIAL CORPORATION | |||||
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$50,000,000 | Dated as of June 1, 2006 |
WINTRUST FINANCIAL CORPORATION | ||||||
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