ウィントラストファイナンシャルの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 20, 2026

WINTRUST FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Illinois

001-35077

36-3873352

(State or other jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer
Identification No.)

9700 W. Higgins Road, Suite 800

Rosemont

Illinois

60018

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code (847) 939-9000

Not Applicable

(Former name or former address, if changed since last year)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of Each Class	Ticker Symbol	Name of Each Exchange on Which Registered
Common Stock, no par value	WTFC	The Nasdaq Global Select Market
Depositary Shares, Each Representing a 1/1,000th Interest in a Share of	WTFCN	The Nasdaq Global Select Market
7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F, no par value

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

On January 20, 2026, Wintrust Financial Corporation (the “Company”) announced earnings for the fourth quarter of 2025 and posted on its website the Fourth Quarter 2025 Earnings Release Presentation. Copies of the press release relating to the Company’s earnings results and the related presentation are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively. Certain supplemental information relating to non-GAAP financial measures reported in the attached press release and presentation is included on pages 34 through 36 of Exhibit 99.1 and pages 29 through 32 of Exhibit 99.2.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits


Exhibit
99.1			Fourth Quarter 2025 Earnings Release dated January 20, 2026
99.2			Fourth Quarter 2025 Earnings Release Presentation dated January 20, 2026

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



						WINTRUST FINANCIAL CORPORATION (Registrant)

			By:			/s/ David L. Stoehr
						David L. Stoehr Executive Vice President and Chief Financial Officer

Date: January 20, 2026

INDEX TO EXHIBITS



Exhibit
99.1			Fourth Quarter 2025 Earnings Release dated January 20, 2026
99.2			Fourth Quarter 2025 Earnings Release Presentation dated January 20, 2026

EX-99.1 2 q4-2025exhibit991.htm EX-99.1 Document

Exhibit 99.1

Wintrust Financial Corporation

9700 W. Higgins Road, Suite 800, Rosemont, Illinois 60018

News Release



FOR IMMEDIATE RELEASE						January 20, 2026

FOR MORE INFORMATION CONTACT:

David A. Dykstra, Vice Chairman & Chief Operating Officer

(847) 939-9000

Amy Yuhn, Executive Vice President, Communications

(847) 939-9591

Web site address: www.wintrust.com

Wintrust Financial Corporation Reports Record Net Income

ROSEMONT, ILLINOIS – Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced record net income of $823.8 million, or $11.40 per diluted common share, for the year ended December 31, 2025 compared to net income of $695.0 million, or $10.31 per diluted common share for 2024. Pre-tax, pre-provision income (non-GAAP) for the year ended December 31, 2025 totaled a record $1.2 billion, compared to $1.0 billion for 2024.

The Company reported record quarterly net income of $223.0 million, or $3.15 per diluted common share, for the fourth quarter of 2025, compared to net income of $216.3 million, or $2.78 per diluted common share for the third quarter of 2025. Pre-tax, pre-provision income (non-GAAP) for the fourth quarter of 2025 totaled a record $329.8 million, as compared to $317.8 million for the third quarter of 2025.

Timothy S. Crane, President and Chief Executive Officer, commented, “We are pleased with our strong 2025 results, including the 19% improvement in net income. Throughout the year, we leveraged our unique position in the markets we serve to achieve robust growth in both loans and deposits. Wintrust ended the year with solid momentum evidenced by record net income, record net interest income, a stable net interest margin and strong balance sheet growth.”

Additionally, Mr. Crane noted, “Net interest margin in the fourth quarter remained within our expected range, improving by four basis points to 3.54%. The improvement in net interest margin, coupled with strong average earning asset growth, supported record net interest income in the fourth quarter of 2025. As we look ahead, we remain encouraged by the outlook and believe that a relatively stable net interest margin, combined with continued balance sheet growth, positions us well to deliver net interest income expansion in future quarters.”

Highlights of the fourth quarter of 2025:

Comparative information to the third quarter of 2025, unless otherwise noted

•Total loans increased by $1.0 billion, or 8% annualized.

•Total deposits increased by $1.0 billion, or 7% annualized.

•Total assets increased by $1.5 billion, or 9% annualized.

•Net interest income increased to $583.9 million in the fourth quarter of 2025, up $16.9 million from $567.0 million in the third quarter of 2025, driven by improvement in net interest margin and strong average earning asset growth.

◦Net interest margin increased to 3.52% (3.54% on a fully taxable-equivalent basis, non-GAAP) during the fourth quarter of 2025.

•Non-interest income was impacted by the following:

◦Net gains on investment securities totaled $1.5 million in the fourth quarter of 2025, compared to net gains of $3.0 million in the third quarter of 2025.

•Provision for credit losses totaled $27.6 million in the fourth quarter of 2025, compared to a provision for credit losses of $21.8 million in the third quarter of 2025.

•Net charge-offs totaled $21.8 million, or 17 basis points of average total loans on an annualized basis, in the fourth quarter of 2025 down from $24.6 million, or 19 basis points of average total loans on an annualized basis, in the third quarter of 2025.

•Non-performing loans totaled $185.8 million and comprised 0.35% of total loans at December 31, 2025, as compared to $162.6 million and 0.31% of total loans at September 30, 2025.

Mr. Crane noted, “We continued our consistent, strong loan growth as loans increased $1.0 billion, or 8% on an annualized basis in the fourth quarter of 2025. Loan pipelines remain strong and we remain disciplined in our evaluation of credit opportunities, ensuring that loan growth aligns with our conservative credit standards. Strong deposit growth totaled $1.0 billion, or 7% on an annualized basis, in the fourth quarter of 2025. Our loan growth was funded by deposit growth in the fourth quarter of 2025 resulting in a stable loans-to-deposits ratio”

Commenting on credit quality, Mr. Crane stated, “Disciplined credit management, supported by persistent and thorough portfolio reviews, continues to drive positive outcomes through early identification and resolution of problem credits. We continue to be conservative and disciplined in our underwriting to maintain our strong credit standards. We believe the Company’s reserves are appropriate and we remain committed to sustaining high credit quality as evidenced by our low levels of net charge-offs and non-performing loans as well as our core loan allowance for credit losses of 1.32%.”

In summary, Mr. Crane concluded, “We believe our record fourth quarter and full year financial results highlight the strength of our differentiated business model that allows us to deliver sophisticated solutions with the personalized service, expertise and local decision making that our customers value. We remain focused on delivering disciplined and strategic organic growth that enhances our franchise in our core markets and specialty businesses while generating long-term value for our shareholders.”

* * *

The graphs shown on pages 3-8 illustrate certain financial highlights of the fourth quarter of 2025 as well as historical financial performance. See “Supplemental Non-GAAP Financial Measures/Ratios” at Table 18 for additional information with respect to non-GAAP financial measures/ratios, including the reconciliations to the corresponding GAAP financial measures/ratios.

SUMMARY OF RESULTS:

BALANCE SHEET

Total assets increased $1.5 billion in the fourth quarter of 2025 compared to the third quarter of 2025. Total loans increased by $1.0 billion compared to the third quarter of 2025. The increase in loans was driven primarily by growth across most major loan categories.

Total liabilities increased by $1.3 billion in the fourth quarter of 2025 compared to the third quarter of 2025, driven by a $1.0 billion increase in total deposits. Strong organic deposit growth in the fourth quarter of 2025 was driven by our diverse deposit product offerings. Non-interest bearing deposit balances represented 20% of total deposits and have remained stable in recent quarters. The Company's loans-to-deposits ratio ended the quarter at 92.0%.

For more information regarding changes in the Company’s balance sheet, see Consolidated Statements of Condition and Table 1 through Table 3 in this report.

NET INTEREST INCOME

For the fourth quarter of 2025, net interest income totaled $583.9 million, an increase of $16.9 million compared to the third quarter of 2025. The $16.9 million increase in net interest income in the fourth quarter of 2025 was driven by net interest margin improvement and average earning asset growth of $1.1 billion, or 7% annualized.

Net interest margin was 3.52% (3.54% on a fully taxable-equivalent basis, non-GAAP) during the fourth quarter of 2025, up four basis points compared to the third quarter of 2025. The yield on earning assets declined 14 basis points during the fourth quarter of 2025 primarily due to a 17 basis point decrease in loan yields. Funding cost on interest-bearing deposits decreased by 25 basis points compared to the third quarter of 2025, which more than offset the reduction in loan yields. The net free funds contribution in the fourth quarter of 2025 declined six basis points compared to the third quarter of 2025.

For more information regarding net interest income, see Table 4 through Table 8 in this report.

ASSET QUALITY

The allowance for credit losses totaled $460.5 million as of December 31, 2025, a slight increase from $454.6 million as of September 30, 2025. A provision for credit losses totaling $27.6 million was recorded for the fourth quarter of 2025 compared to $21.8 million recorded in the third quarter of 2025. The provision for credit losses recognized in the fourth quarter of 2025 reflects stable credit quality and a mostly stable macroeconomic forecast. However, given future economic performance remains uncertain, qualitative additions were made to the provision related to credit spreads and equity market valuations. For more information regarding the allowance for credit losses and provision for credit losses, see Table 11 in this report.

Management believes the allowance for credit losses is appropriate to account for expected credit losses. The Company is required to estimate expected credit losses over the life of the Company’s financial assets as of the reporting date. There can be no assurances, however, that future losses will not significantly exceed the amounts provided for, thereby affecting future results of operations. A summary of the allowance for credit losses calculated for the loan components in each portfolio as of December 31, 2025, September 30, 2025, and June 30, 2025 is shown on Table 12 of this report.

Net charge-offs totaled $21.8 million in the fourth quarter of 2025, a decrease of $2.8 million compared to $24.6 million of net charge-offs in the third quarter of 2025. Net charge-offs as a percentage of average total loans were 17 basis points in the fourth quarter of 2025 on an annualized basis compared to 19 basis points on an annualized basis in the third quarter of 2025. For more information regarding net charge-offs, see Table 10 in this report.

The Company’s loan portfolio delinquency rates remain low and manageable. For more information regarding past due loans, see Table 13 in this report.

Non-performing assets and non-performing loans increased slightly compared to prior quarter but stayed within the range experienced at the end of the prior three quarters of 2025. Non-performing assets totaled $206.6 million and comprised 0.29% of total assets as of December 31, 2025, as compared to $187.5 million, or 0.27% of total assets, as of September 30, 2025. Non-performing loans totaled $185.8 million and comprised 0.35% of total loans at December 31, 2025, as compared to $162.6 million and 0.31% of total loans at September 30, 2025. For more information regarding non-performing assets, see Table 14 in this report.

NON-INTEREST INCOME

Non-interest income totaled $130.4 million in the fourth quarter of 2025, decreasing $0.4 million, compared to $130.8 million in the third quarter of 2025.

Wealth management revenue increased by approximately $2.2 million in the fourth quarter of 2025, compared to the third quarter of 2025. The increase in the fourth quarter of 2025 was primarily driven by an increase in asset valuations within the quarter, coupled with an increase in brokerage revenue related to higher transactional business. Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company and Great Lakes Advisors, the brokerage commissions, managed money fees and insurance product commissions at Wintrust Investments and fees from tax-deferred like-kind exchange services provided by the Chicago Deferred Exchange Company.

Mortgage banking revenue totaled $22.6 million in the fourth quarter of 2025, compared to $24.5 million in the third quarter of 2025. The decrease in the fourth quarter of 2025 was primarily attributed to lower production revenue. For more information regarding mortgage banking revenue, see Table 16 in this report.

The Company recognized approximately $1.5 million in net gains on investment securities in the fourth quarter of 2025 compared to approximately $3.0 million in net gains in the third quarter of 2025. The net gains in the fourth quarter of 2025 were primarily the result of unrealized gains on the Company’s equity investment securities with a readily determinable fair value.

For more information regarding non-interest income, see Table 15 in this report.

NON-INTEREST EXPENSE

Non-interest expense totaled $384.5 million in the fourth quarter of 2025, increasing $4.5 million, compared to $380.0 million in the third quarter of 2025. Non-interest expense, as a percent of average assets, decreased two basis points in the fourth quarter of 2025 to 2.19%.

Salaries and employee benefits expense increased by approximately $2.9 million in the fourth quarter of 2025, compared to the third quarter of 2025. This was primarily driven by an increased level of health insurance claims in the fourth quarter of 2025.

The Company recorded net OREO expense of $2.2 million in the fourth quarter of 2025, compared to net OREO expense of $262,000 in the third quarter of 2025. The primary diver of the increase in the fourth quarter can be attributed to valuation adjustments. Net OREO expenses include all costs associated with obtaining, maintaining and selling other real estate owned properties as well as valuation adjustments.

Advertising and marketing expenses in the fourth quarter of 2025 totaled $13.8 million, which was a $5.2 million decrease as compared to the third quarter of 2025. The decrease in the current quarter relates primarily to lower sports sponsorships. Marketing costs are incurred to promote the Company’s brand, commercial banking capabilities and the Company’s various products, to attract loans and deposits and to announce new branch openings as well as the expansion of the Company’s non-bank businesses. The level of marketing expenditures depends on the timing of sponsorship programs utilized which are determined based on the market area, targeted audience, competition and various other factors. Generally, these expenses are elevated in the second and third quarters of each year.

Travel and entertainment expense increased approximately $1.9 million in the fourth quarter of 2025, compared to the third quarter of 2025. The increase is primarily attributed to seasonal corporate events that occur in the fourth quarter.

For more information regarding non-interest expense, see Table 17 in this report.

INCOME TAXES

The Company recorded income tax expense of $79.2 million in the fourth quarter of 2025 compared to $79.8 million in the third quarter of 2025. The effective tax rates were 26.2% in the fourth quarter of 2025 compared to 27.0% in the third quarter of 2025. The effective tax rates were impacted by an overall lower level of provision for state income tax expense in the comparable periods.

BUSINESS SUMMARY

Community Banking

Through community banking, the Company provides banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the local areas the Company services. In the fourth quarter of 2025, community banking increased its commercial, commercial real estate and residential real estate loan portfolios.

Mortgage banking revenue was $22.6 million for the fourth quarter of 2025, an decrease of $1.8 million compared to the third quarter of 2025. See Table 16 for more detail. Service charges on deposit accounts totaled $20.4 million in the fourth quarter of 2025 as compared to $19.8 million in the third quarter of 2025. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of December 31, 2025 indicating momentum for expected continued loan growth in the first quarter of 2026.

Specialty Finance

Through specialty finance, the Company offers financing of insurance premiums for businesses and individuals, equipment financing through structured loans and lease products to customers in a variety of industries, accounts receivable financing and value-added, out-sourced administrative services and other services. Originations within the insurance premium financing receivables portfolios were $5.4 billion during the fourth quarter of 2025. Average balances decreased by $61.2 million, as compared to the third quarter of 2025. The Company’s leasing divisions’ portfolio balances increased in the fourth quarter of 2025, with capital leases, loans, and equipment on operating leases of $2.9 billion, $1.2 billion, and $360.6 million as of December 31, 2025, respectively, compared to $2.8 billion, $1.2 billion, and $301.0 million as of September 30, 2025, respectively. Revenues from the Company’s out-sourced administrative services business were $1.4 million in the fourth quarter of 2025, which was relatively stable compared to the third quarter of 2025.

Wealth Management

Through wealth management, the Company offers a full range of wealth management services, including trust and investment services, tax-deferred like-kind exchange services, asset management, and securities brokerage services. Wealth management revenue totaled $39.4 million in the fourth quarter of 2025, an increase as compared to the third quarter of 2025. At December 31, 2025, the Company’s wealth management subsidiaries had approximately $56.1 billion of assets under administration, which included $9.6 billion of assets owned by the Company and its subsidiary banks.

WINTRUST FINANCIAL CORPORATION

Key Operating Measures

Wintrust’s key operating measures and growth rates for the fourth quarter of 2025, as compared to the third quarter of 2025 (sequential quarter) and fourth quarter of 2024 (linked quarter), are shown in the table below:


										% or (1) basis point (bp) change from 3rd Quarter 2025		% or basis point (bp) change from 4th Quarter 2024
	Three Months Ended
(Dollars in thousands, except per share data)	Dec 31, 2025			Sep 30, 2025			Dec 31, 2024
Net income	$	223,024		$	216,254		$	185,362		3	%	20	%
Pre-tax income, excluding provision for credit losses (non-GAAP) (2)	329,811			317,809			270,060			4		22

Net income per common share – Diluted	3.15			2.78			2.63			13		20
Cash dividends declared per common share	0.50			0.50			0.45			—		11
Net revenue (3)	714,264			697,837			638,599			2		12
Net interest income	583,874			567,010			525,148			3		11
Net interest margin	3.52		%	3.48		%	3.49		%	4	bps	3	bps
Net interest margin – fully taxable-equivalent (non-GAAP)(2)	3.54			3.50			3.51			4		3
Net overhead ratio (4)	1.45			1.45			1.60			—		(15)

Return on average assets	1.27			1.26			1.16			1		11
Return on average common equity	12.63			11.58			11.82			105		81
Return on average tangible common equity (non-GAAP) (2)	14.83			13.74			14.29			109		54
At end of period
Total assets	$	71,142,046		$	69,629,638		$	64,879,668		9	%	10	%
Total loans (5)	53,105,101			52,063,482			48,055,037			8		11

Total deposits	57,717,191			56,711,381			52,512,349			7		10
Total shareholders’ equity	7,258,715			7,045,757			6,344,297			12		14

(1)Period-end balance sheet percentage changes are annualized.

(2)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(3)Net revenue is net interest income plus non-interest income.

(4)The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.

(5)Excludes mortgage loans held-for-sale.

Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. This is done for analytical purposes to better discern, for decision-making purposes, underlying performance trends when compared to full-year or year-over-year amounts. For example, a 5% growth rate for a quarter would represent an annualized 20% growth rate.

WINTRUST FINANCIAL CORPORATION

Selected Financial Highlights


	Three Months Ended															Years Ended
(Dollars in thousands, except per share data)	Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Dec 31, 2024			Dec 31, 2025			Dec 31, 2024
Selected Financial Condition Data (at end of period):
Total assets	$	71,142,046		$	69,629,638		$	68,983,318		$	65,870,066		$	64,879,668
Total loans (1)	53,105,101			52,063,482			51,041,679			48,708,390			48,055,037
Total deposits	57,717,191			56,711,381			55,816,811			53,570,038			52,512,349

Total shareholders’ equity	7,258,715			7,045,757			7,225,696			6,600,537			6,344,297
Selected Statements of Income Data:
Net interest income	$	583,874		$	567,010		$	546,694		$	526,474		$	525,148		$	2,224,052		$	1,962,535
Net revenue (2)	714,264			697,837			670,783			643,108			638,599			2,725,992			2,450,860
Net income	223,024			216,254			195,527			189,039			185,362			823,844			695,045
Pre-tax income, excluding provision for credit losses (non-GAAP) (3)	329,811			317,809			289,322			277,018			270,060			1,213,960			1,048,136

Net income per common share – Basic	3.21			2.82			2.82			2.73			2.68			11.57			10.47
Net income per common share – Diluted	3.15			2.78			2.78			2.69			2.63			11.40			10.31
Cash dividends declared per common share	0.50			0.50			0.50			0.50			0.45			2.00			1.80
Selected Financial Ratios and Other Data:
Performance Ratios:
Net interest margin	3.52		%	3.48		%	3.52		%	3.54		%	3.49		%	3.52		%	3.51		%
Net interest margin – fully taxable-equivalent (non-GAAP) (3)	3.54			3.50			3.54			3.56			3.51			3.53			3.53
Non-interest income to average assets	0.74			0.76			0.76			0.74			0.71			0.75			0.82
Non-interest expense to average assets	2.19			2.21			2.32			2.32			2.31			2.26			2.36
Net overhead ratio (4)	1.45			1.45			1.57			1.58			1.60			1.51			1.54

Return on average assets	1.27			1.26			1.19			1.20			1.16			1.23			1.17
Return on average common equity	12.63			11.58			12.07			12.21			11.82			12.13			12.32
Return on average tangible common equity (non-GAAP) (3)	14.83			13.74			14.44			14.72			14.29			14.43			14.58
Average total assets	$	69,492,268		$	68,303,036		$	65,840,345		$	64,107,042		$	63,594,105		$	66,954,172		$	59,416,909
Average total shareholders’ equity	7,166,608			6,955,543			6,862,040			6,460,941			6,418,403			6,863,474			5,826,940
Average loans to average deposits ratio	92.4		%	92.5		%	93.0		%	92.3		%	91.9		%	92.6		%	93.8		%
Period-end loans to deposits ratio	92.0			91.8			91.4			90.9			91.5
Common Share Data at end of period:
Market price per common share	$	139.82		$	132.44		$	123.98		$	112.46		$	124.71
Book value per common share	102.03			98.87			95.43			92.47			89.21
Tangible book value per common share (non-GAAP) (3)	88.66			85.39			81.86			78.83			75.39
Common shares outstanding	66,974,913			66,961,209			66,937,732			66,919,325			66,495,227
Other Data at end of period:
Common equity to assets ratio	9.6		%	9.5		%	9.3		%	9.4		%	9.1		%
Tangible common equity ratio (non-GAAP) (3)	8.5			8.3			8.0			8.1			7.8
Tier 1 leverage ratio (5)	9.7			9.5			10.2			9.6			9.4
Risk-based capital ratios:
Tier 1 capital ratio (5)	11.0			10.9			11.5			10.8			10.7
Common equity tier 1 capital ratio (5)	10.3			10.2			10.0			10.1			9.9
Total capital ratio (5)	12.4			12.4			13.0			12.5			12.3


Allowance for credit losses (6)	$	460,465		$	454,586		$	457,461		$	448,387		$	437,060

Allowance for loan and unfunded lending-related commitment losses to total loans	0.87		%	0.87		%	0.90		%	0.92		%	0.91		%

Number of:
Bank subsidiaries	16			16			16			16			16
Banking offices	209			208			208			208			205

(1)Excludes mortgage loans held-for-sale.

(2)Net revenue is net interest income plus non-interest income.

(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(5)Capital ratios for current quarter-end are estimated.

(6)The allowance for credit losses includes the allowance for loan losses, the allowance for unfunded lending-related commitments and the allowance for held-to-maturity securities losses.

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CONDITION


	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
(In thousands)	2025		2025		2025		2025		2024
Assets
Cash and due from banks	$	467,874	$	565,406	$	695,501	$	616,216	$	452,017
Federal funds sold and securities purchased under resale agreements	64		63		63		63		6,519
Interest-bearing deposits with banks	3,180,553		3,422,452		4,569,618		4,238,237		4,409,753
Available-for-sale securities, at fair value	6,236,263		5,274,124		4,885,715		4,220,305		4,141,482
Held-to-maturity securities, at amortized cost	3,343,905		3,438,406		3,502,186		3,564,490		3,613,263
Trading account securities	—		—		—		—		4,072
Equity securities with readily determinable fair value	63,770		63,445		273,722		270,442		215,412
Federal Home Loan Bank and Federal Reserve Bank stock	291,881		282,755		282,087		281,893		281,407
Brokerage customer receivables	—		—		—		—		18,102


Mortgage loans held-for-sale, at fair value	340,745		333,883		299,606		316,804		331,261


Loans, net of unearned income	53,105,101		52,063,482		51,041,679		48,708,390		48,055,037



Allowance for loan losses	(379,283)		(386,622)		(391,654)		(378,207)		(364,017)
Net loans	52,725,818		51,676,860		50,650,025		48,330,183		47,691,020
Premises, software and equipment, net	781,611		775,425		776,324		776,679		779,130
Lease investments, net	360,646		301,000		289,768		280,472		278,264


Accrued interest receivable and other assets	1,617,682		1,614,674		1,610,025		1,598,255		1,739,334
Receivable on unsettled securities sales	835,275		978,209		240,039		463,023		—

Goodwill	797,960		797,639		798,144		796,932		796,942
Other acquisition-related intangible assets	97,999		105,297		110,495		116,072		121,690
Total assets	$	71,142,046	$	69,629,638	$	68,983,318	$	65,870,066	$	64,879,668
Liabilities and Shareholders’ Equity
Deposits:
Non-interest-bearing	$	11,423,701	$	10,952,146	$	10,877,166	$	11,201,859	$	11,410,018
Interest-bearing	46,293,490		45,759,235		44,939,645		42,368,179		41,102,331
Total deposits	57,717,191		56,711,381		55,816,811		53,570,038		52,512,349


Federal Home Loan Bank advances	3,451,309		3,151,309		3,151,309		3,151,309		3,151,309

Other borrowings	477,966		579,328		625,392		529,269		534,803

Subordinated notes	298,636		298,536		298,458		298,360		298,283
Junior subordinated debentures	253,566		253,566		253,566		253,566		253,566
Payable on unsettled securities purchases	—		—		39,105		—		—
Accrued interest payable and other liabilities	1,684,663		1,589,761		1,572,981		1,466,987		1,785,061



Total liabilities	63,883,331		62,583,881		61,757,622		59,269,529		58,535,371
Shareholders’ Equity:
Preferred stock	425,000		425,000		837,500		412,500		412,500




Common stock	67,062		67,042		67,025		67,007		66,560
Surplus	2,534,024		2,521,306		2,495,637		2,494,347		2,482,561
Treasury stock	(9,156)		(9,150)		(9,156)		(9,156)		(6,153)
Retained earnings	4,537,539		4,356,367		4,200,923		4,045,854		3,897,164
Accumulated other comprehensive loss	(295,754)		(314,808)		(366,233)		(410,015)		(508,335)
Total shareholders’ equity	7,258,715		7,045,757		7,225,696		6,600,537		6,344,297
Total liabilities and shareholders’ equity	$	71,142,046	$	69,629,638	$	68,983,318	$	65,870,066	$	64,879,668

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


	Three Months Ended										Years Ended
(Dollars in thousands, except per share data)	Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Dec 31, 2024		Dec 31, 2025		Dec 31, 2024
Interest income
Interest and fees on loans	$	822,494	$	832,140	$	797,997	$	768,362	$	789,038	$	3,220,993	$	3,043,354
Mortgage loans held-for-sale	5,607		4,757		4,872		4,246		5,623		19,482		21,436
Interest-bearing deposits with banks	27,190		34,992		34,317		36,766		46,256		133,265		115,253
Federal funds sold and securities purchased under resale agreements	77		75		276		179		53		607		366
Investment securities	95,461		86,426		78,053		72,016		67,066		331,956		276,115
Trading account securities	—		—		—		11		6		11		48
Federal Home Loan Bank and Federal Reserve Bank stock	5,497		5,444		5,393		5,307		5,157		21,641		20,060
Brokerage customer receivables	—		—		—		78		302		78		965
Total interest income	956,326		963,834		920,908		886,965		913,501		3,728,033		3,477,597
Interest expense
Interest on deposits	332,178		355,846		333,470		320,233		346,388		1,341,727		1,343,642
Interest on Federal Home Loan Bank advances	26,408		26,007		25,724		25,441		26,050		103,580		99,149
Interest on other borrowings	5,956		6,887		6,957		6,792		7,519		26,592		34,480
Interest on subordinated notes	3,737		3,717		3,735		3,714		3,733		14,903		18,117
Interest on junior subordinated debentures	4,173		4,367		4,328		4,311		4,663		17,179		19,674
Total interest expense	372,452		396,824		374,214		360,491		388,353		1,503,981		1,515,062
Net interest income	583,874		567,010		546,694		526,474		525,148		2,224,052		1,962,535
Provision for credit losses	27,588		21,768		22,234		23,963		16,979		95,553		101,047
Net interest income after provision for credit losses	556,286		545,242		524,460		502,511		508,169		2,128,499		1,861,488
Non-interest income
Wealth management	39,365		37,188		36,821		34,042		38,775		147,416		146,227
Mortgage banking	22,625		24,451		23,170		20,529		20,452		90,775		93,213
Service charges on deposit accounts	20,402		19,825		19,502		19,362		18,864		79,091		65,651
Gains (losses) on investment securities, net	1,505		2,972		650		3,196		(2,835)		8,323		(2,602)
Fees from covered call options	5,992		5,619		5,624		3,446		2,305		20,681		10,196
Trading (losses) gains, net	(257)		172		151		(64)		(113)		2		504
Operating lease income, net	16,365		15,466		15,166		15,287		15,327		62,284		58,710
Other	24,393		25,134		23,005		20,836		20,676		93,368		116,426
Total non-interest income	130,390		130,827		124,089		116,634		113,451		501,940		488,325
Non-interest expense
Salaries and employee benefits	222,557		219,668		219,541		211,526		212,133		873,292		817,108
Software and equipment	36,096		35,027		36,522		34,717		34,258		142,362		122,794
Operating lease equipment	11,034		10,409		10,757		10,471		10,263		42,671		42,298
Occupancy, net	20,105		20,809		20,228		20,778		20,597		81,920		79,213
Data processing	11,809		11,329		12,110		11,274		10,957		46,522		39,736
Advertising and marketing	13,792		19,027		18,761		12,272		13,097		63,852		61,812
Professional fees	8,280		7,465		9,243		9,044		11,334		34,032		40,637
Amortization of other acquisition-related intangible assets	4,999		5,196		5,580		5,618		5,773		21,393		12,095
FDIC insurance	10,562		11,418		10,971		10,926		10,640		43,877		46,118
Other real estate owned (“OREO”) expenses, net	2,162		262		505		643		397		3,572		(408)
Other	43,057		39,418		37,243		38,821		39,090		158,539		141,321
Total non-interest expense	384,453		380,028		381,461		366,090		368,539		1,512,032		1,402,724
Income before taxes	302,223		296,041		267,088		253,055		253,081		1,118,407		947,089
Income tax expense	79,199		79,787		71,561		64,016		67,719		294,563		252,044
Net income	$	223,024	$	216,254	$	195,527	$	189,039	$	185,362	$	823,844	$	695,045
Preferred stock dividends	8,367		13,295		6,991		6,991		6,991		35,644		27,964
Preferred stock redemption	—		14,046		—		—		—		14,046		—
Net income applicable to common shares	$	214,657	$	188,913	$	188,536	$	182,048	$	178,371	$	774,154	$	667,081
Net income per common share - Basic	$	3.21	$	2.82	$	2.82	$	2.73	$	2.68	$	11.57	$	10.47
Net income per common share - Diluted	$	3.15	$	2.78	$	2.78	$	2.69	$	2.63	$	11.40	$	10.31
Cash dividends declared per common share	$	0.50	$	0.50	$	0.50	$	0.50	$	0.45	$	2.00	$	1.80
Weighted average common shares outstanding	66,970		66,952		66,931		66,726		66,491		66,896		63,685
Dilutive potential common shares	1,143		1,028		888		923		1,233		998		1,016
Average common shares and dilutive common shares	68,113		67,980		67,819		67,649		67,724		67,894		64,701

TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES


											% Growth From (1)
(Dollars in thousands)	Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Dec 31, 2024		Sep 30, 2025 (2)		Dec 31, 2024
Balance:
Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies	$	217,136	$	211,360	$	192,633	$	181,580	$	189,774	11	%	14	%
Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies	123,609		122,523		106,973		135,224		141,487		4		(13)
Total mortgage loans held-for-sale	$	340,745	$	333,883	$	299,606	$	316,804	$	331,261	8	%	3	%

Core loans:
Commercial
Commercial and industrial	$	7,267,505	$	7,135,083	$	7,028,247	$	6,871,206	$	6,867,422	7	%	6	%
Asset-based lending	1,512,888		1,588,522		1,663,693		1,701,962		1,611,001		(19)		(6)
Municipal	868,958		804,986		771,785		798,646		826,653		32		5
Leases	2,921,366		2,834,563		2,757,331		2,680,943		2,537,325		12		15

Commercial real estate
Residential construction	54,753		60,923		59,027		55,849		48,617		(40)		13
Commercial construction	2,013,244		2,273,545		2,165,263		2,086,797		2,065,775		(45)		(3)
Land	341,585		323,685		304,827		306,235		319,689		22		7
Office	1,688,614		1,578,208		1,601,208		1,641,555		1,656,109		28		2
Industrial	3,167,768		2,912,547		2,824,889		2,677,555		2,628,576		35		21
Retail	1,436,252		1,478,861		1,452,351		1,402,837		1,374,655		(11)		4
Multi-family	3,445,507		3,306,597		3,200,578		3,091,314		3,125,505		17		10
Mixed use and other	1,793,013		1,684,841		1,683,867		1,652,759		1,685,018		25		6
Home equity	480,525		484,202		466,815		455,683		445,028		(3)		8
Residential real estate
Residential real estate loans for investment	4,171,439		4,019,046		3,814,715		3,561,417		3,456,009		15		21
Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies	84,706		75,088		80,800		86,952		114,985		51		(26)
Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies	61,087		49,736		53,267		36,790		41,771		91		46
Total core loans	$	31,309,210	$	30,610,433	$	29,928,663	$	29,108,500	$	28,804,138	9	%	9	%

Niche loans:
Commercial
Franchise	$	1,298,493	$	1,298,140	$	1,286,265	$	1,262,555	$	1,268,521	0	%	2	%
Mortgage warehouse lines of credit	1,515,003		1,204,661		1,232,530		1,019,543		893,854		102		69
Community Advantage - homeowners association	532,027		537,696		526,595		525,492		525,446		(4)		1
Insurance agency lending	1,128,446		1,140,691		1,120,985		1,070,979		1,044,329		(4)		8
Premium Finance receivables
U.S. property & casualty insurance	7,308,054		7,502,901		7,378,340		6,486,663		6,447,625		(10)		13
Canada property & casualty insurance	875,362		863,391		944,836		753,199		824,417		6		6
Life insurance	9,023,642		8,758,553		8,506,960		8,365,140		8,147,145		12		11
Consumer and other	114,864		147,016		116,505		116,319		99,562		(87)		15
Total niche loans	$	21,795,891	$	21,453,049	$	21,113,016	$	19,599,890	$	19,250,899	6	%	13	%






Total loans, net of unearned income	$	53,105,101	$	52,063,482	$	51,041,679	$	48,708,390	$	48,055,037	8	%	11	%

(1)NM - Not Meaningful.

(2)Annualized.

TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES


																% Growth From
(Dollars in thousands)	Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Dec 31, 2024			Sep 30, 2025 (1)		Dec 31, 2024
Balance:
Non-interest-bearing	$	11,423,701		$	10,952,146		$	10,877,166		$	11,201,859		$	11,410,018		17	%	0	%
NOW and interest-bearing demand deposits	6,233,753			6,710,919			6,795,725			6,340,168			5,865,546			(28)		6
Wealth management deposits (2)	1,907,647			1,600,735			1,595,764			1,408,790			1,469,064			76		30
Money market	21,368,924			20,270,382			19,556,041			18,074,733			17,975,191			22		19
Savings	6,905,216			6,758,743			6,659,419			6,576,251			6,372,499			9		8
Time certificates of deposit	9,877,950			10,418,456			10,332,696			9,968,237			9,420,031			(21)		5
Total deposits	$	57,717,191		$	56,711,381		$	55,816,811		$	53,570,038		$	52,512,349		7	%	10	%
Mix:
Non-interest-bearing	20		%	19		%	19		%	21		%	22		%
NOW and interest-bearing demand deposits	11			12			12			12			11
Wealth management deposits (2)	3			3			3			3			3
Money market	37			36			35			34			34
Savings	12			12			12			12			12
Time certificates of deposit	17			18			19			18			18
Total deposits	100		%	100		%	100		%	100		%	100		%

(1)Annualized.

(2)Represents deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), and trust and asset management customers of the Company.

TABLE 3: TIME CERTIFICATES OF DEPOSIT MATURITY/RE-PRICING ANALYSIS

As of December 31, 2025


(Dollars in thousands)	Total Time Certificates of Deposit		Weighted-Average Rate of Maturing Time Certificates of Deposit
1-3 months	$	3,392,722	3.81	%
4-6 months	2,625,175		3.42
7-9 months	2,834,840		3.46
10-12 months	590,301		3.41
13-18 months	289,020		3.07
19-24 months	72,535		2.73
24+ months	73,357		2.77
Total	$	9,877,950	3.54	%

TABLE 4: QUARTERLY AVERAGE BALANCES


	Average Balance for three months ended,
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
(In thousands)	2025		2025		2025		2025		2024
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)	$	2,842,829	$	3,276,683	$	3,308,199	$	3,520,048	$	3,934,016
Investment securities (2)	10,084,138		9,377,930		8,801,560		8,409,735		8,090,271
FHLB and FRB stock (3)	284,643		282,338		282,001		281,702		271,825
Liquidity management assets (4)	$	13,211,610	$	12,936,951	$	12,391,760	$	12,211,485	$	12,296,112
Other earning assets (4) (5)	—		—		—		13,140		20,528
Mortgage loans held-for-sale	357,672		295,365		310,534		286,710		378,707
Loans, net of unearned income (4) (6)	52,193,637		51,403,566		49,517,635		47,833,380		47,153,014
Total earning assets (4)	$	65,762,919	$	64,635,882	$	62,219,929	$	60,344,715	$	59,848,361
Allowance for loan and investment security losses	(404,075)		(410,681)		(398,685)		(375,371)		(367,238)
Cash and due from banks	517,616		495,292		478,707		476,423		470,033
Other assets	3,615,808		3,582,543		3,540,394		3,661,275		3,642,949
Total assets	$	69,492,268	$	68,303,036	$	65,840,345	$	64,107,042	$	63,594,105

NOW and interest-bearing demand deposits	$	6,133,333	$	6,687,292	$	6,423,050	$	6,046,189	$	5,601,672
Wealth management deposits	1,925,808		1,604,142		1,552,989		1,574,480		1,430,163
Money market accounts	20,475,659		19,431,021		18,184,754		17,581,141		17,579,395
Savings accounts	6,814,263		6,723,325		6,578,698		6,479,444		6,288,727
Time deposits	10,045,136		10,319,719		9,841,702		9,406,126		9,702,948
Interest-bearing deposits	$	45,394,199	$	44,765,499	$	42,581,193	$	41,087,380	$	40,602,905
FHLB advances (3)	3,203,483		3,151,310		3,151,310		3,151,309		3,160,658
Other borrowings	547,507		614,892		593,657		582,139		577,786
Subordinated notes	298,576		298,481		298,398		298,306		298,225
Junior subordinated debentures	253,566		253,566		253,566		253,566		253,566
Total interest-bearing liabilities	$	49,697,331	$	49,083,748	$	46,878,124	$	45,372,700	$	44,893,140
Non-interest-bearing deposits	11,080,254		10,791,709		10,643,798		10,732,156		10,718,738
Other liabilities	1,548,075		1,472,036		1,456,383		1,541,245		1,563,824
Equity	7,166,608		6,955,543		6,862,040		6,460,941		6,418,403
Total liabilities and shareholders’ equity	$	69,492,268	$	68,303,036	$	65,840,345	$	64,107,042	$	63,594,105

Net free funds/contribution (7)	$	16,065,588	$	15,552,134	$	15,341,805	$	14,972,015	$	14,955,221

(1)Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.

(2)Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.

(3)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(4)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(5)Other earning assets include brokerage customer receivables and trading account securities.

(6)Loans, net of unearned income, include non-accrual loans.

(7)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.

TABLE 5: QUARTERLY NET INTEREST INCOME


	Net Interest Income for three months ended,
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
(In thousands)	2025		2025		2025		2025		2024
Interest income:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents	$	27,267	$	35,067	$	34,593	$	36,945	$	46,308
Investment securities	96,122		87,101		78,733		72,706		67,783
FHLB and FRB stock (1)	5,497		5,444		5,393		5,307		5,157
Liquidity management assets (2)	$	128,886	$	127,612	$	118,719	$	114,958	$	119,248
Other earning assets (2)	—		—		—		92		310
Mortgage loans held-for-sale	5,607		4,757		4,872		4,246		5,623
Loans, net of unearned income (2)	824,628		834,294		800,197		770,568		791,390


Total interest income	$	959,121	$	966,663	$	923,788	$	889,864	$	916,571

Interest expense:
NOW and interest-bearing demand deposits	$	31,681	$	40,448	$	37,517	$	33,600	$	31,695
Wealth management deposits	10,011		8,415		8,182		8,606		9,412
Money market accounts	163,585		169,831		155,890		146,374		159,945
Savings accounts	34,371		38,844		37,637		35,923		38,402
Time deposits	92,530		98,308		94,244		95,730		106,934
Interest-bearing deposits	$	332,178	$	355,846	$	333,470	$	320,233	$	346,388
FHLB advances (1)	26,408		26,007		25,724		25,441		26,050
Other borrowings	5,956		6,887		6,957		6,792		7,519
Subordinated notes	3,737		3,717		3,735		3,714		3,733
Junior subordinated debentures	4,173		4,367		4,328		4,311		4,663
Total interest expense	$	372,452	$	396,824	$	374,214	$	360,491	$	388,353

Less: Fully taxable-equivalent adjustment	(2,795)		(2,829)		(2,880)		(2,899)		(3,070)
Net interest income (GAAP) (3)	583,874		567,010		546,694		526,474		525,148
Fully taxable-equivalent adjustment	2,795		2,829		2,880		2,899		3,070
Net interest income, fully taxable-equivalent (non-GAAP) (3)	$	586,669	$	569,839	$	549,574	$	529,373	$	528,218

(1)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(2)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.

(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

TABLE 6: QUARTERLY NET INTEREST MARGIN


	Net Interest Margin for three months ended,
	Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Dec 31, 2024
Yield earned on:
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents	3.81	%	4.25	%	4.19	%	4.26	%	4.68	%
Investment securities	3.78		3.68		3.59		3.51		3.33
FHLB and FRB stock (1)	7.66		7.65		7.67		7.64		7.55

Liquidity management assets	3.87	%	3.91	%	3.84	%	3.82	%	3.86	%
Other earning assets	—		—		—		2.84		6.01
Mortgage loans held-for-sale	6.22		6.39		6.29		6.01		5.91
Loans, net of unearned income	6.27		6.44		6.48		6.53		6.68

Total earning assets	5.79	%	5.93	%	5.96	%	5.98	%	6.09	%

Rate paid on:
NOW and interest-bearing demand deposits	2.05	%	2.40	%	2.34	%	2.25	%	2.25	%
Wealth management deposits	2.06		2.08		2.11		2.22		2.62
Money market accounts	3.17		3.47		3.44		3.38		3.62
Savings accounts	2.00		2.29		2.29		2.25		2.43
Time deposits	3.65		3.78		3.84		4.13		4.38
Interest-bearing deposits	2.90	%	3.15	%	3.14	%	3.16	%	3.39	%
FHLB advances	3.27		3.27		3.27		3.27		3.28
Other borrowings	4.32		4.44		4.70		4.73		5.18
Subordinated notes	4.97		4.94		5.02		5.05		4.98
Junior subordinated debentures	6.53		6.83		6.85		6.90		7.32
Total interest-bearing liabilities	2.97	%	3.21	%	3.20	%	3.22	%	3.44	%

Interest rate spread (2) (3)	2.82	%	2.72	%	2.76	%	2.76	%	2.65	%
Less: Fully taxable-equivalent adjustment	(0.02)		(0.02)		(0.02)		(0.02)		(0.02)
Net free funds/contribution (4)	0.72		0.78		0.78		0.80		0.86
Net interest margin (GAAP) (3)	3.52	%	3.48	%	3.52	%	3.54	%	3.49	%
Fully taxable-equivalent adjustment	0.02		0.02		0.02		0.02		0.02
Net interest margin, fully taxable-equivalent (non-GAAP) (3)	3.54	%	3.50	%	3.54	%	3.56	%	3.51	%

(1)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(2)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.

(3)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(4)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.

TABLE 7: YEAR-TO-DATE AVERAGE BALANCES, AND NET INTEREST INCOME AND MARGIN


	Average Balance for twelve months ended,				Interest for twelve months ended,				Yield/Rate for twelve months ended,
(Dollars in thousands)	Dec 31, 2025		Dec 31, 2024		Dec 31, 2025		Dec 31, 2024		Dec 31, 2025		Dec 31, 2024
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)	$	3,235,193	$	2,276,818	$	133,872	$	115,618	4.14	%	5.08	%
Investment securities (2)	9,173,502		8,229,846		334,662		278,617		3.65		3.39
FHLB and FRB stock (3)	282,678		255,018		21,641		20,060		7.66		7.87

Liquidity management assets (4) (5)	$	12,691,373	$	10,761,682	$	490,175	$	414,295	3.86	%	3.85	%
Other earning assets (4) (5) (6)	3,240		17,113		92		1,025		2.84		5.99
Mortgage loans held-for-sale	312,718		348,278		19,482		21,436		6.23		6.15
Loans, net of unearned income (4) (5) (7)	50,252,196		44,765,445		3,229,687		3,052,731		6.43		6.82


Total earning assets (5)	$	63,259,527	$	55,892,518	$	3,739,436	$	3,489,487	5.91	%	6.24	%
Allowance for loan and investment security losses	(397,318)		(368,342)
Cash and due from banks	492,131		455,708
Other assets	3,599,832		3,437,025
Total assets	$	66,954,172	$	59,416,909

NOW and interest-bearing demand deposits	$	6,323,704	$	5,360,630	$	143,246	$	130,281	2.27	%	2.43	%
Wealth management deposits	1,665,152		1,458,404		35,214		40,324		2.11		2.76
Money market accounts	18,927,479		15,946,363		635,680		620,411		3.36		3.89
Savings accounts	6,650,054		6,015,085		146,775		161,429		2.21		2.68
Time deposits	9,906,063		8,753,848		380,812		391,197		3.84		4.47
Interest-bearing deposits	$	43,472,452	$	37,534,330	$	1,341,727	$	1,343,642	3.09	%	3.58	%
Federal Home Loan Bank advances	3,164,460		3,042,052		103,580		99,149		3.27		3.26
Other borrowings	584,537		603,868		26,592		34,480		4.55		5.71
Subordinated notes	298,441		360,802		14,903		18,117		4.99		5.02
Junior subordinated debentures	253,566		253,566		17,179		19,674		6.78		7.76
Total interest-bearing liabilities	$	47,773,456	$	41,794,618	$	1,503,981	$	1,515,062	3.15	%	3.63	%
Non-interest-bearing deposits	10,812,877		10,212,088
Other liabilities	1,504,365		1,583,263
Equity	6,863,474		5,826,940
Total liabilities and shareholders’ equity	$	66,954,172	$	59,416,909
Interest rate spread (5) (8)									2.76	%	2.61	%
Less: Fully taxable-equivalent adjustment					(11,403)		(11,890)		(0.01)		(0.02)
Net free funds/contribution (9)	$	15,486,071	$	14,097,900					0.77		0.92
Net interest income/margin (GAAP) (5)					$	2,224,052	$	1,962,535	3.52	%	3.51	%
Fully taxable-equivalent adjustment					11,403		11,890		0.01		0.02
Net interest income/margin, fully taxable-equivalent (non-GAAP) (5)					$	2,235,455	$	1,974,425	3.53	%	3.53	%

(3)Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)

(4)Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.

(5)See Table 18: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

(6)Other earning assets include brokerage customer receivables and trading account securities.

(7)Loans, net of unearned income, include non-accrual loans.

(8)Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.

(9)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.

TABLE 8: INTEREST RATE SENSITIVITY

As an ongoing part of its financial strategy, the Company attempts to manage the impact of fluctuations in market interest rates on net interest income. Management measures its exposure to changes in interest rates by modeling many different interest rate scenarios.

The following interest rate scenarios display the percentage change in net interest income over a one-year time horizon assuming increases and decreases of 100 and 200 basis points as compared to projected net interest income in a scenario with no assumed rate changes. The Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet. Conversely, the Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months. Actual results may differ from these simulated results due to timing, magnitude, and frequency of interest rate changes as well as changes in market conditions and management strategies. The interest rate sensitivity for both the Static Shock and Ramp Scenario is as follows:


Static Shock Scenario	+200 Basis Points		+100 Basis Points		-100 Basis Points		-200 Basis Points
Dec 31, 2025	(1.6)	%	(0.5)	%	(0.5)	%	(0.8)	%
Sep 30, 2025	(2.3)		(0.8)		0.0		(0.4)
Jun 30, 2025	(1.5)		(0.4)		(0.2)		(1.2)
Mar 31, 2025	(1.8)		(0.6)		(0.2)		(1.2)
Dec 31, 2024	(1.6)		(0.6)		(0.3)		(1.5)


Ramp Scenario	+200 Basis Points		+100 Basis Points		-100 Basis Points		-200 Basis Points
Dec 31, 2025	(0.0)	%	0.1	%	(0.1)	%	(0.2)	%
Sep 30, 2025	(0.2)		(0.1)		0.1		(0.1)
Jun 30, 2025	0.0		0.0		(0.1)		(0.4)
Mar 31, 2025	0.2		0.2		(0.1)		(0.5)
Dec 31, 2024	(0.2)		(0.0)		0.0		(0.3)

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. As the current interest rate cycle progressed, management took action to reposition its sensitivity to interest rates. To this end, management has executed various derivative instruments including collars, floors and receive fixed swaps to hedge variable rate loan exposures and originated a higher percentage of its loan originations in longer-term fixed-rate loans. The Company will continue to monitor current and projected interest rates and may execute additional derivatives to mitigate potential fluctuations in the net interest margin in future periods.

TABLE 9: MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES


	Loans repricing or contractual maturity period
As of December 31, 2025	One year or less		From one to five years		From five to fifteen years		After fifteen years		Total
(In thousands)
Commercial
Fixed rate	$	560,803	$	3,901,475	$	2,191,712	$	18,490	$	6,672,480

Variable rate	10,371,538		668		—		—		10,372,206
Total commercial	$	10,932,341	$	3,902,143	$	2,191,712	$	18,490	$	17,044,686
Commercial real estate
Fixed rate	$	836,428	$	2,659,163	$	364,215	$	76,892	$	3,936,698
Variable rate	9,992,879		11,094		65		—		10,004,038
Total commercial real estate	$	10,829,307	$	2,670,257	$	364,280	$	76,892	$	13,940,736
Home equity
Fixed rate	$	9,300	$	685	$	—	$	11	$	9,996
Variable rate	470,529		—		—		—		470,529
Total home equity	$	479,829	$	685	$	—	$	11	$	480,525
Residential real estate
Fixed rate	$	18,384	$	4,719	$	67,647	$	1,057,910	$	1,148,660
Variable rate	110,906		747,277		2,310,389		—		3,168,572
Total residential real estate	$	129,290	$	751,996	$	2,378,036	$	1,057,910	$	4,317,232
Premium finance receivables - property & casualty
Fixed rate	$	8,067,517	$	115,899	$	—	$	—	$	8,183,416
Variable rate	—		—		—		—		—
Total premium finance receivables - property & casualty	$	8,067,517	$	115,899	$	—	$	—	$	8,183,416
Premium finance receivables - life insurance
Fixed rate	$	163,653	$	116,520	$	—	$	—	$	280,173
Variable rate	8,743,469		—		—		—		8,743,469
Total premium finance receivables - life insurance	$	8,907,122	$	116,520	$	—	$	—	$	9,023,642
Consumer and other
Fixed rate	$	27,834	$	8,571	$	934	$	849	$	38,188
Variable rate	76,676		—		—		—		76,676
Total consumer and other	$	104,510	$	8,571	$	934	$	849	$	114,864

Total per category
Fixed rate	$	9,683,919	$	6,807,032	$	2,624,508	$	1,154,152	$	20,269,611

Variable rate	29,765,997		759,039		2,310,454		—		32,835,490
Total loans, net of unearned income	$	39,449,916	$	7,566,071	$	4,934,962	$	1,154,152	$	53,105,101
Less: Existing cash flow hedging derivatives (1)	(6,150,000)

Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity	$	33,299,916

Variable Rate Loan Pricing by Index:
SOFR tenors (2)									$	21,157,533
12- month CMT (3)									7,652,077
Prime									3,021,831
Fed Funds									684,626



Other U.S. Treasury tenors									182,079
Other									137,344
Total variable rate									$	32,835,490

(1)Excludes cash flow hedges with future effective starting dates and those that have matured as of December 31, 2025. The $6.15 billion of cash flow hedging derivatives includes receive fixed swaps, collars and floors of which $5.2 billion were impacting the cash flows of loans indexed to one-month SOFR as of December 31, 2025.

(2)SOFR - Secured Overnight Financing Rate.

(3)CMT - Constant Maturity Treasury Rate.

Source: Bloomberg

As noted in the table on the previous page, the majority of the Company’s portfolio is tied to SOFR and CMT indices which, as shown in the table above, do not mirror the same changes as the Prime rate, which has historically moved when the Federal Reserve raises or lowers interest rates. Specifically, the Company has variable rate loans of $18.5 billion tied to one-month SOFR and $7.7 billion tied to twelve-month CMT. The above chart shows:


	Basis Point (bp) Change in
	1-month SOFR		12- month CMT		Prime
Fourth Quarter 2025	(44)	bps	(20)	bps	(50)	bps
Third Quarter 2025	(19)		(28)		(25)
Second Quarter 2025	—		(7)		—
First Quarter 2025	(1)		(13)		—
Fourth Quarter 2024	(52)		18		(50)

TABLE 10: ALLOWANCE FOR CREDIT LOSSES


	Three Months Ended															Years Ended
	Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,			Dec 31,			Dec 31,
(Dollars in thousands)	2025			2025			2025			2025			2024			2025			2024
Allowance for credit losses at beginning of period	$	454,586		$	457,461		$	448,387		$	437,060		$	436,193		$	437,060		$	427,612

Provision for credit losses - Other	27,588			21,768			22,234			23,963			16,979			95,553			85,500
Provision for credit losses - Day 1 on non-PCD assets acquired during the period	—			—			—			—			—			—			15,547
Initial allowance for credit losses recognized on PCD assets acquired during the period	—			—			—			—			—			—			3,004
Other adjustments	71			(88)			180			4			(187)			167			(207)
Charge-offs:
Commercial	12,894			21,597			6,148			9,722			5,090			50,361			48,864
Commercial real estate	5,625			144			5,711			454			1,037			11,934			22,127
Home equity	—			27			111			—			—			138			74
Residential real estate	—			26			—			—			114			26			175
Premium finance receivables - property & casualty	8,354			6,860			6,346			7,114			13,301			28,674			37,515
Premium finance receivables - life insurance	—			18			—			12			—			30			4
Consumer and other	203			174			179			147			189			703			587
Total charge-offs	27,076			28,846			18,495			17,449			19,731			91,866			109,346
Recoveries:
Commercial	956			1,449			1,746			929			775			5,080			2,853
Commercial real estate	4			241			10			12			172			267			323
Home equity	28			104			30			216			194			378			359
Residential real estate	1			1			2			136			0			140			15
Premium finance receivables - property & casualty	4,275			2,459			3,335			3,487			2,646			13,556			11,259
Premium finance receivables - life insurance	—			—			—			—			—			—			54
Consumer and other	32			37			32			29			19			130			87
Total recoveries	5,296			4,291			5,155			4,809			3,806			19,551			14,950
Net charge-offs	(21,780)			(24,555)			(13,340)			(12,640)			(15,925)			(72,315)			(94,396)
Allowance for credit losses at period end	$	460,465		$	454,586		$	457,461		$	448,387		$	437,060		$	460,465		$	437,060

Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
Commercial	0.29		%	0.49		%	0.11		%	0.23		%	0.11		%	0.28		%	0.33		%
Commercial real estate	0.16			(0.00)			0.17			0.01			0.03			0.09			0.18
Home equity	(0.02)			(0.06)			0.07			(0.20)			(0.18)			(0.05)			(0.07)
Residential real estate	(0.00)			0.00			(0.00)			(0.02)			0.01			(0.00)			0.01
Premium finance receivables - property & casualty	0.20			0.20			0.16			0.20			0.59			0.19			0.37
Premium finance receivables - life insurance	—			0.00			—			0.00			—			0.00			(0.00)
Consumer and other	0.47			0.40			0.44			0.45			0.63			0.44			0.57
Total loans, net of unearned income	0.17		%	0.19		%	0.11		%	0.11		%	0.13		%	0.14			0.21		%


Loans at period end	$	53,105,101		$	52,063,482		$	51,041,679		$	48,708,390		$	48,055,037
Allowance for loan losses as a percentage of loans at period end	0.71		%	0.74		%	0.77		%	0.78		%	0.76		%
Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end	0.87			0.87			0.90			0.92			0.91

PCD - Purchase Credit Deteriorated

TABLE 11: ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT


	Three Months Ended										Years Ended
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,		Dec 31,		Dec 31,
(In thousands)	2025		2025		2025		2025		2024		2025		2024
Provision for loan losses - Other	$	14,369	$	19,610	$	26,607	$	26,826	$	19,852	$	87,412	$	97,904
Provision for credit losses - Day 1 on non-PCD assets acquired during the period	—		—		—		—		—		—		15,547
Provision for unfunded lending-related commitments losses - Other	13,354		2,160		(4,325)		(2,852)		(2,851)		8,337		(12,514)
Provision for held-to-maturity securities losses	(135)		(2)		(48)		(11)		(22)		(196)		110
Provision for credit losses	$	27,588	$	21,768	$	22,234	$	23,963	$	16,979	$	95,553	$	101,047

Allowance for loan losses	$	379,283	$	386,622	$	391,654	$	378,207	$	364,017
Allowance for unfunded lending-related commitments losses	80,922		67,569		65,409		69,734		72,586
Allowance for loan losses and unfunded lending-related commitments losses	460,205		454,191		457,063		447,941		436,603
Allowance for held-to-maturity securities losses	260		395		398		446		457
Allowance for credit losses	$	460,465	$	454,586	$	457,461	$	448,387	$	437,060

PCD - Purchase Credit Deteriorated

TABLE 12: ALLOWANCE BY LOAN PORTFOLIO

The table below summarizes the calculation of allowance for loan losses and allowance for unfunded lending-related commitments losses for the Company’s loan portfolios as well as core and niche portfolios, as of December 31, 2025, September 30, 2025 and June 30, 2025.


	As of Dec 31, 2025						As of Sep 30, 2025						As of Jun 30, 2025
(Dollars in thousands)	Recorded Investment		Calculated Allowance		% of its category’s balance		Recorded Investment		Calculated Allowance		% of its category’s balance		Recorded Investment		Calculated Allowance		% of its category’s balance
Commercial	$	17,044,686	$	178,545	1.05	%	$	16,544,342	$	189,476	1.15	%	$	16,387,431	$	194,568	1.19	%
Commercial real estate:
Construction and development	2,409,582		93,106		3.86		2,658,153		78,765		2.96		2,529,117		75,936		3.00
Non-construction	11,531,154		153,827		1.33		10,961,054		151,712		1.38		10,762,893		148,422		1.38
Total commercial real estate	$	13,940,736	$	246,933	1.77	%	$	13,619,207	$	230,477	1.69	%	$	13,292,010	$	224,358	1.69	%
Total commercial and commercial real estate	$	30,985,422	$	425,478	1.37	%	$	30,163,549	$	419,953	1.39	%	$	29,679,441	$	418,926	1.41	%
Home equity	480,525		10,402		2.16		484,202		9,229		1.91		466,815		9,221		1.98
Residential real estate	4,317,232		12,519		0.29		4,143,870		12,013		0.29		3,948,782		11,455		0.29

Premium finance receivables - property & casualty	8,183,416		10,226		0.12		8,366,292		11,187		0.13		8,323,176		15,872		0.19
Premium finance receivables - life insurance	9,023,642		785		0.01		8,758,553		762		0.01		8,506,960		740		0.01
Consumer and other	114,864		795		0.69		147,016		1,047		0.71		116,505		849		0.73
Total loans, net of unearned income	$	53,105,101	$	460,205	0.87	%	$	52,063,482	$	454,191	0.87	%	$	51,041,679	$	457,063	0.90	%

Total core loans (1)	$	31,309,210	$	412,714	1.32	%	$	30,610,433	$	408,780	1.34	%	$	29,928,663	$	409,826	1.37	%
Total niche loans (1)	21,795,891		47,491		0.22		21,453,049		45,411		0.21		21,113,016		47,237		0.22

(1)See Table 1 for additional detail on core and niche loans.

TABLE 13: LOAN PORTFOLIO AGING


(In thousands)	Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Dec 31, 2024
Loan Balances:
Commercial
Nonaccrual	$	78,059	$	66,577	$	80,877	$	70,560	$	73,490
90+ days and still accruing	—		—		—		46		104
60-89 days past due	22,952		12,190		34,855		15,243		54,844
30-59 days past due	90,205		36,136		45,103		97,397		92,551
Current	16,853,470		16,429,439		16,226,596		15,748,080		15,353,562
Total commercial	$	17,044,686	$	16,544,342	$	16,387,431	$	15,931,326	$	15,574,551
Commercial real estate
Nonaccrual	$	25,147	$	28,202	$	32,828	$	26,187	$	21,042
90+ days and still accruing	—		—		—		—		—
60-89 days past due	19,529		14,119		11,257		6,995		10,521
30-59 days past due	65,601		83,055		51,173		83,653		30,766
Current	13,830,459		13,493,831		13,196,752		12,798,066		12,841,615
Total commercial real estate	$	13,940,736	$	13,619,207	$	13,292,010	$	12,914,901	$	12,903,944
Home equity
Nonaccrual	$	1,221	$	1,295	$	1,780	$	2,070	$	1,117
90+ days and still accruing	—		—		—		—		—
60-89 days past due	1,112		246		138		984		1,233
30-59 days past due	2,818		2,294		2,971		3,403		2,148
Current	475,374		480,367		461,926		449,226		440,530
Total home equity	$	480,525	$	484,202	$	466,815	$	455,683	$	445,028
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies (1)	$	145,793	$	124,824	$	134,067	$	123,742	$	156,756
Nonaccrual	32,862		28,942		28,047		22,522		23,762
90+ days and still accruing	—		—		—		—		—
60-89 days past due	7,562		8,829		8,954		1,351		5,708
30-59 days past due	24,908		95		38		38,943		18,917
Current	4,106,107		3,981,180		3,777,676		3,498,601		3,407,622
Total residential real estate	$	4,317,232	$	4,143,870	$	3,948,782	$	3,685,159	$	3,612,765
Premium finance receivables - property & casualty
Nonaccrual	$	29,354	$	24,512	$	30,404	$	29,846	$	28,797
90+ days and still accruing	19,115		13,006		14,350		18,081		16,031
60-89 days past due	29,294		23,527		25,641		19,717		19,042
30-59 days past due	57,685		38,133		29,460		39,459		68,219
Current	8,047,968		8,267,114		8,223,321		7,132,759		7,139,953
Total Premium finance receivables - property & casualty	$	8,183,416	$	8,366,292	$	8,323,176	$	7,239,862	$	7,272,042
Premium finance receivables - life insurance
Nonaccrual	$	—	$	—	$	—	$	—	$	6,431
90+ days and still accruing	—		—		327		2,962		—
60-89 days past due	13,887		34,016		11,202		10,587		72,963
30-59 days past due	22,806		34,506		34,403		29,924		36,405
Current	8,986,949		8,690,031		8,461,028		8,321,667		8,031,346
Total Premium finance receivables - life insurance	$	9,023,642	$	8,758,553	$	8,506,960	$	8,365,140	$	8,147,145
Consumer and other
Nonaccrual	$	8	$	38	$	41	$	18	$	2
90+ days and still accruing	42		60		184		98		47
60-89 days past due	466		49		61		162		59
30-59 days past due	643		159		175		542		882
Current	113,705		146,710		116,044		115,499		98,572
Total consumer and other	$	114,864	$	147,016	$	116,505	$	116,319	$	99,562
Total loans, net of unearned income
Early buy-out loans guaranteed by U.S. government agencies (1)	$	145,793	$	124,824	$	134,067	$	123,742	$	156,756
Nonaccrual	166,651		149,566		173,977		151,203		154,641
90+ days and still accruing	19,157		13,066		14,861		21,187		16,182
60-89 days past due	94,802		92,976		92,108		55,039		164,370
30-59 days past due	264,666		194,378		163,323		293,321		249,888
Current	52,414,032		51,488,672		50,463,343		48,063,898		47,313,200
Total loans, net of unearned income	$	53,105,101	$	52,063,482	$	51,041,679	$	48,708,390	$	48,055,037

(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

TABLE 14: NON-PERFORMING ASSETS (1)


	Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,
(Dollars in thousands)	2025			2025			2025			2025			2024
Loans past due greater than 90 days and still accruing:
Commercial	$	—		$	—		$	—		$	46		$	104
Commercial real estate	—			—			—			—			—
Home equity	—			—			—			—			—
Residential real estate	—			—			—			—			—
Premium finance receivables - property & casualty	19,115			13,006			14,350			18,081			16,031
Premium finance receivables - life insurance	—			—			327			2,962			—
Consumer and other	42			60			184			98			47
Total loans past due greater than 90 days and still accruing	19,157			13,066			14,861			21,187			16,182
Non-accrual loans:
Commercial	78,059			66,577			80,877			70,560			73,490
Commercial real estate	25,147			28,202			32,828			26,187			21,042
Home equity	1,221			1,295			1,780			2,070			1,117
Residential real estate	32,862			28,942			28,047			22,522			23,762
Premium finance receivables - property & casualty	29,354			24,512			30,404			29,846			28,797
Premium finance receivables - life insurance	—			—			—			—			6,431
Consumer and other	8			38			41			18			2
Total non-accrual loans	166,651			149,566			173,977			151,203			154,641
Total non-performing loans:
Commercial	78,059			66,577			80,877			70,606			73,594
Commercial real estate	25,147			28,202			32,828			26,187			21,042
Home equity	1,221			1,295			1,780			2,070			1,117
Residential real estate	32,862			28,942			28,047			22,522			23,762
Premium finance receivables - property & casualty	48,469			37,518			44,754			47,927			44,828
Premium finance receivables - life insurance	—			—			327			2,962			6,431
Consumer and other	50			98			225			116			49
Total non-performing loans	$	185,808		$	162,632		$	188,838		$	172,390		$	170,823
Other real estate owned	20,839			24,832			23,615			22,625			23,116


Total non-performing assets	$	206,647		$	187,464		$	212,453		$	195,015		$	193,939
Total non-performing loans by category as a percent of its own respective category’s period-end balance:
Commercial	0.46		%	0.40		%	0.49		%	0.44		%	0.47		%
Commercial real estate	0.18			0.21			0.25			0.20			0.16
Home equity	0.25			0.27			0.38			0.45			0.25
Residential real estate	0.76			0.70			0.71			0.61			0.66
Premium finance receivables - property & casualty	0.59			0.45			0.54			0.66			0.62
Premium finance receivables - life insurance	—			—			0.00			0.04			0.08
Consumer and other	0.04			0.07			0.19			0.10			0.05
Total loans, net of unearned income	0.35		%	0.31		%	0.37		%	0.35		%	0.36		%
Total non-performing assets as a percentage of total assets	0.29		%	0.27		%	0.31		%	0.30		%	0.30		%
Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans	276.15		%	303.67		%	262.71		%	296.25		%	282.33		%

(1)Excludes early buy-out loans guaranteed by U.S. government agencies. Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies


	Three Months Ended										Years Ended
	Dec 31,		Sep 30,		Jun 30,			Mar 31,			Dec 31,	Dec 31,				Dec 31,
(In thousands)	2025		2025		2025			2025			2024	2025				2024

Balance at beginning of period	$	162,632	$	188,838		$	172,390		$	170,823		$	179,687	$	170,823		$	139,030
Additions from becoming non-performing in the respective period	46,198		34,805			48,651			27,721			30,931		157,375			150,784
Additions from assets acquired in the respective period	—		—			—			—			—		—			189
Return to performing status	(2,937)		(3,399)			(6,896)			(1,207)			(1,108)		(14,439)			(2,872)
Payments received	(13,734)		(28,052)			(5,602)			(15,965)			(12,219)		(63,353)			(41,060)
Transfer to OREO or other assets	(286)		(348)			(2,247)			—			(17,897)		(2,881)			(29,903)
Charge-offs, net	(16,998)		(21,526)			(11,734)			(8,600)			(5,612)		(58,858)			(49,306)
Net change for premium finance receivables	10,933		(7,686)			(5,724)			(382)			(2,959)		(2,859)			3,961
Balance at end of period	$	185,808	$	162,632		$	188,838		$	172,390		$	170,823	$	185,808		$	170,823

Other Real Estate Owned


	Three Months Ended
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
(In thousands)	2025		2025		2025		2025		2024
Balance at beginning of period	$	24,832	$	23,615	$	22,625	$	23,116	$	13,682
Disposals/resolved	(2,141)		—		—		—		(8,545)
Transfers in at fair value, less costs to sell	—		1,217		1,315		—		17,979

Fair value adjustments	(1,852)		—		(325)		(491)		—
Balance at end of period	$	20,839	$	24,832	$	23,615	$	22,625	$	23,116

	Period End
(In thousands)	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
Balance by Property Type:	2025		2025		2025		2025		2024
Residential real estate	$	—	$	—	$	—	$	—	$	—

Commercial real estate	20,839		24,832		23,615		22,625		23,116
Total	$	20,839	$	24,832	$	23,615	$	22,625	$	23,116

TABLE 15: NON-INTEREST INCOME


	Three Months Ended										Q4 2025 compared to Q3 2025				Q4 2025 compared to Q4 2024
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
(Dollars in thousands)	2025		2025		2025		2025		2024		$ Change		% Change		$ Change		% Change
Brokerage	$	5,384	$	4,426	$	4,212	$	4,757	$	5,328	$	958	22	%	$	56	1	%
Trust and asset management	33,981		32,762		32,609		29,285		33,447		1,219		4		534		2
Total wealth management	39,365		37,188		36,821		34,042		38,775		2,177		6		590		2
Mortgage banking	22,625		24,451		23,170		20,529		20,452		(1,826)		(7)		2,173		11
Service charges on deposit accounts	20,402		19,825		19,502		19,362		18,864		577		3		1,538		8
Gains (losses) on investment securities, net	1,505		2,972		650		3,196		(2,835)		(1,467)		(49)		4,340		NM
Fees from covered call options	5,992		5,619		5,624		3,446		2,305		373		7		3,687		NM
Trading (losses) gains, net	(257)		172		151		(64)		(113)		(429)		NM		(144)		NM
Operating lease income, net	16,365		15,466		15,166		15,287		15,327		899		6		1,038		7
Other:
Interest rate swap fees	4,664		3,909		3,010		2,269		3,360		755		19		1,304		39
BOLI	1,915		1,591		2,257		796		1,236		324		20		679		55
Administrative services	1,352		1,240		1,315		1,393		1,347		112		9		5		0
Foreign currency remeasurement gains (losses)	322		(416)		658		(183)		(682)		738		NM		1,004		NM
Changes in fair value on EBOs and loans held-for-investment	(1,702)		1,452		172		383		129		(3,154)		NM		(1,831)		NM
Early pay-offs of capital leases	581		519		400		768		514		62		12		67		13
Miscellaneous	17,261		16,839		15,193		15,410		14,772		422		3		2,489		17
Total Other	24,393		25,134		23,005		20,836		20,676		(741)		(3)		3,717		18
Total Non-Interest Income	$	130,390	$	130,827	$	124,089	$	116,634	$	113,451	$	(437)	0	%	$	16,939	15	%


	Years Ended				2025 compared to 2024
	Dec 31,		Dec 31,
(Dollars in thousands)	2025		2024		$ Change		% Change
Brokerage	$	18,779	$	22,611	$	(3,832)	(17)	%
Trust and asset management	128,637		123,616		5,021		4
Total wealth management	147,416		146,227		1,189		1
Mortgage banking	90,775		93,213		(2,438)		(3)
Service charges on deposit accounts	79,091		65,651		13,440		20
Gains (losses) on investment securities, net	8,323		(2,602)		10,925		NM
Fees from covered call options	20,681		10,196		10,485		NM
Trading gains, net	2		504		(502)		(100)
Operating lease income, net	62,284		58,710		3,574		6
Other:
Interest rate swap fees	13,852		12,494		1,358		11
BOLI	6,559		5,755		804		14
Administrative services	5,300		5,336		(36)		(1)
Foreign currency remeasurement gains (losses)	381		(1,302)		1,683		NM
Changes in fair value on EBOs and loans held-for-investment	305		812		(507)		(62)
Early pay-offs of capital leases	2,268		1,869		399		21
Miscellaneous	64,703		91,462		(26,759)		(29)
Total Other	93,368		116,426		(23,058)		(20)
Total Non-Interest Income	$	501,940	$	488,325	$	13,615	3	%

NM - Not meaningful.

BOLI - Bank-owned life insurance.

EBO - Early buy-out.

TABLE 16: MORTGAGE BANKING


	Three Months Ended
(Dollars in thousands)	Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Dec 31, 2024
Originations:
Retail originations	$	589,139		$	505,793		$	523,759		$	348,468		$	483,424

Veterans First originations	208,054			137,600			157,787			111,985			176,914
Total originations for sale (A)	$	797,193		$	643,393		$	681,546		$	460,453		$	660,338
Originations for investment	364,988			351,012			422,926			217,177			355,119
Total originations	$	1,162,181		$	994,405		$	1,104,472		$	677,630		$	1,015,457
As a percentage of originations for sale:
Retail originations	74		%	79		%	77		%	76		%	73		%
Veterans First originations	26			21			23			24			27

Purchases	52		%	77		%	74		%	77		%	65		%
Refinances	48			23			26			23			35



Production Margin:


Production revenue (B) (1)	$	10,878		$	15,388		$	13,380		$	9,941		$	6,993



Total originations for sale (A)	$	797,193		$	643,393		$	681,546		$	460,453		$	660,338
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)	122,804			307,932			163,664			197,297			103,946
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)	307,932			163,664			197,297			103,946			272,072
Total mortgage production volume (C)	$	612,065		$	787,661		$	647,913		$	553,804		$	492,212
Production margin (B / C)	1.78		%	1.95		%	2.07		%	1.80		%	1.42		%

Mortgage Servicing:
Loans serviced for others (D)	$	12,608,694		$	12,524,131		$	12,470,924		$	12,402,352		$	12,400,913
Mortgage Servicing Rights (“MSR”), at fair value (E)	195,023			190,938			193,061			196,307			203,788
Percentage of MSRs to loans serviced for others (E / D)	1.55		%	1.52		%	1.55		%	1.58		%	1.64		%
Servicing income	$	10,185		$	10,112		$	10,520		$	10,611		$	10,731
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period	$	190,938		$	193,061		$	196,307		$	203,788		$	186,308

MSR - current period capitalization	9,150			5,829			6,336			4,669			10,010
MSR - collection of expected cash flows - paydowns	(1,550)			(1,554)			(1,516)			(1,590)			(1,463)
MSR - collection of expected cash flows - payoffs and repurchases	(6,250)			(4,050)			(4,100)			(3,046)			(4,315)
MSR - changes in fair value model assumptions	2,735			(2,348)			(3,966)			(7,514)			13,248
MSR Fair Value at end of period	$	195,023		$	190,938		$	193,061		$	196,307		$	203,788
Summary of Mortgage Banking Revenue:
Operational:
Production revenue (1)	$	10,878		$	15,388		$	13,380		$	9,941		$	6,993
MSR - Current period capitalization	9,150			5,829			6,336			4,669			10,010
MSR - Collection of expected cash flows - paydowns	(1,550)			(1,554)			(1,516)			(1,590)			(1,463)
MSR - Collection of expected cash flows - payoffs and repurchases	(6,250)			(4,050)			(4,100)			(3,046)			(4,315)
Servicing Income	10,185			10,112			10,520			10,611			10,731
Other Revenue	(17)			(345)			(79)			(172)			(51)
Total operational mortgage banking revenue	$	22,396		$	25,380		$	24,541		$	20,413		$	21,905
Fair Value:
MSR - changes in fair value model assumptions	$	2,735		$	(2,348)		$	(3,966)		$	(7,514)		$	13,248
(Loss) gain on derivative contract held as an economic hedge, net	(2,425)			265			2,535			4,897			(11,452)
Changes in FV on early buy-out loans guaranteed by US Govt held-for-sale	(81)			1,154			60			2,733			(3,249)
Total fair value mortgage banking revenue	$	229		$	(929)		$	(1,371)		$	116		$	(1,453)
Total mortgage banking revenue	$	22,625		$	24,451		$	23,170		$	20,529		$	20,452

(1)Production revenue represents revenue earned from the origination and subsequent sale of mortgages, including gains on loans sold and fees from originations, changes in other related financial instruments carried at fair value, processing and other related activities, and excludes servicing fees, changes in the fair value of servicing rights and changes to the mortgage recourse obligation and other non-production revenue.

(2)Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.


	Years Ended
(Dollars in thousands)		Dec 31, 2025			Dec 31, 2024
Originations:
Retail originations		$	1,967,159		$	1,886,730

Veterans First originations		615,426			738,184
Total originations for sale (A)		$	2,582,585		$	2,624,914
Originations for investment		1,356,103			1,018,680
Total originations		$	3,938,688		$	3,643,594
As a percentage of originations for sale:
Retail originations		76		%	72		%
Veterans First originations		24			28

Purchases		68		%	75		%
Refinances		32			25



Production Margin:


Production revenue (B) (1)		$	49,587		$	48,531



Total originations for sale (A)		$	2,582,585		$	2,624,914
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)		122,804			103,946
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)		103,946			119,624
Total mortgage production volume (C)		$	2,601,443		$	2,609,236
Production margin (B / C)		1.91		%	1.86		%

Mortgage Servicing:
Loans serviced for others (D)		$	12,608,694		$	12,400,913
MSRs, at fair value (E)		195,023			203,788
Percentage of MSRs to loans serviced for others (E / D)		1.55		%	1.64		%
Servicing income		$	41,428		$	42,624
MSR Fair Value Asset Activity
MSR - FV at Beginning of Period		$	203,788		$	192,456

MSR - current period capitalization		25,984			29,969
MSR - collection of expected cash flows - paydowns		(6,210)			(6,009)
MSR - collection of expected cash flows - payoffs and repurchases		(17,446)			(17,017)
MSR - changes in fair value model assumptions		(11,093)			4,389
MSR Fair Value at end of period		$	195,023		$	203,788
Summary of Mortgage Banking Revenue:
Operational:
Production revenue (1)		$	49,587		$	48,531
MSR - Current period capitalization		25,984			29,969
MSR - Collection of expected cash flows - paydowns		(6,210)			(6,009)
MSR - Collection of expected cash flows - payoffs and repurchases		(17,446)			(17,017)
Servicing Income		41,428			42,624
Other Revenue		(613)			(97)
Total operational mortgage banking revenue		$	92,730		$	98,001
Fair Value:
MSR - changes in fair value model assumptions		$	(11,093)		$	4,389
Gain (loss) on derivative contract held as an economic hedge, net		5,272			(7,909)
Changes in FV on early buy-out loans guaranteed by US Govt held-for-sale		3,866			(1,268)
Total fair value mortgage banking revenue		$	(1,955)		$	(4,788)
Total mortgage banking revenue		$	90,775		$	93,213

(2)Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.

TABLE 17: NON-INTEREST EXPENSE


	Three Months Ended										Q4 2025 compared to Q3 2025				Q4 2025 compared to Q4 2024
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,
(Dollars in thousands)	2025		2025		2025		2025		2024		$ Change		% Change		$ Change		% Change
Salaries and employee benefits:
Salaries	$	124,856	$	124,623	$	123,174	$	123,917	$	120,969	$	233	0	%	$	3,887	3	%
Commissions and incentive compensation	57,117		56,244		55,871		52,536		54,792		873		2		2,325		4
Benefits	40,584		38,801		40,496		35,073		36,372		1,783		5		4,212		12
Total salaries and employee benefits	222,557		219,668		219,541		211,526		212,133		2,889		1		10,424		5
Software and equipment	36,096		35,027		36,522		34,717		34,258		1,069		3		1,838		5
Operating lease equipment	11,034		10,409		10,757		10,471		10,263		625		6		771		8
Occupancy, net	20,105		20,809		20,228		20,778		20,597		(704)		(3)		(492)		(2)
Data processing	11,809		11,329		12,110		11,274		10,957		480		4		852		8
Advertising and marketing	13,792		19,027		18,761		12,272		13,097		(5,235)		(28)		695		5
Professional fees	8,280		7,465		9,243		9,044		11,334		815		11		(3,054)		(27)
Amortization of other acquisition-related intangible assets	4,999		5,196		5,580		5,618		5,773		(197)		(4)		(774)		(13)
FDIC insurance	11,061		11,418		10,971		10,926		10,640		(357)		(3)		421		4
FDIC insurance - special assessment	(499)		—		—		—		—		(499)		(100)		(499)		(100)
OREO expense, net	2,162		262		505		643		397		1,900		NM		1,765		NM
Other:
Lending expenses, net of deferred origination costs	6,367		6,169		4,869		5,866		6,448		198		3		(81)		(1)
Travel and entertainment	7,965		6,029		6,026		5,270		8,140		1,936		32		(175)		(2)
Miscellaneous	28,725		27,220		26,348		27,685		24,502		1,505		6		4,223		17
Total other	43,057		39,418		37,243		38,821		39,090		3,639		9		3,967		10
Total Non-Interest Expense	$	384,453	$	380,028	$	381,461	$	366,090	$	368,539	$	4,425	1	%	$	15,914	4	%


	Years Ended				2025 compared to 2024
	Dec 31,		Dec 31,
(Dollars in thousands)	2025		2024		$ Change		% Change
Salaries and employee benefits:
Salaries	$	496,570	$	465,972	$	30,598	7	%
Commissions and incentive compensation	221,768		215,519		6,249		3
Benefits	154,954		135,617		19,337		14
Total salaries and employee benefits	873,292		817,108		56,184		7
Software and equipment	142,362		122,794		19,568		16
Operating lease equipment	42,671		42,298		373		1
Occupancy, net	81,920		79,213		2,707		3
Data processing	46,522		39,736		6,786		17
Advertising and marketing	63,852		61,812		2,040		3
Professional fees	34,032		40,637		(6,605)		(16)
Amortization of other acquisition-related intangible assets	21,393		12,095		9,298		77
FDIC insurance	44,376		40,962		3,414		8
FDIC insurance - special assessment	(499)		5,156		(5,655)		NM
OREO expense, net	3,572		(408)		3,980		NM
Other:
Lending expenses, net of deferred origination costs	23,271		21,856		1,415		6
Travel and entertainment	25,290		23,441		1,849		8
Miscellaneous	109,978		96,024		13,954		15
Total other	158,539		141,321		17,218		12
Total Non-Interest Expense	$	1,512,032	$	1,402,724	$	109,308	8	%

NM - Not meaningful.

TABLE 18: SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES/RATIOS

The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. These include taxable-equivalent net interest income (including its individual components), taxable-equivalent net interest margin (including its individual components), the taxable-equivalent efficiency ratio, tangible common equity ratio, tangible book value per common share, return on average tangible common equity, and pre-tax income, excluding provision for credit losses. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company’s interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

Management reviews yields on certain asset categories and the net interest margin of the Company and its banking subsidiaries on a fully taxable-equivalent basis (“FTE”). In this non-GAAP presentation, net interest income is adjusted to reflect tax-exempt interest income on an equivalent before-tax basis using tax rates effective as of the end of the period. This measure ensures comparability of net interest income arising from both taxable and tax-exempt sources. Net interest income on a FTE basis is also used in the calculation of the Company’s efficiency ratio. The efficiency ratio, which is calculated by dividing non-interest expense by total taxable-equivalent net revenue (less securities gains or losses), measures how much it costs to produce one dollar of revenue. Securities gains or losses are excluded from this calculation to better match revenue from daily operations to operational expenses. Management considers the tangible common equity ratio and tangible book value per common share as useful measurements of the Company’s equity. The Company references the return on average tangible common equity as a measurement of profitability. Management considers pre-tax income, excluding provision for credit losses, as a useful measurement of the Company’s core net income.


	Three Months Ended															Years Ended
	Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,			Dec 31,			Dec 31,
(Dollars and shares in thousands)	2025			2025			2025			2025			2024			2025			2024
Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
(A) Interest Income (GAAP)	$	956,326		$	963,834		$	920,908		$	886,965		$	913,501		$	3,728,033		$	3,477,597
Taxable-equivalent adjustment:
- Loans	2,134			2,154			2,200			2,206			2,352			8,694			9,377
- Liquidity Management Assets	661			675			680			690			716			2,706			2,501
- Other Earning Assets	—			—			—			3			2			3			12
(B) Interest Income (non-GAAP)	$	959,121		$	966,663		$	923,788		$	889,864		$	916,571		$	3,739,436		$	3,489,487
(C) Interest Expense (GAAP)	372,452			396,824			374,214			360,491			388,353			1,503,981			1,515,062
(D) Net Interest Income (GAAP) (A minus C)	583,874			567,010			546,694			526,474			525,148			2,224,052			1,962,535
(E) Net Interest Income (non-GAAP) (B minus C)	586,669			569,839			549,574			529,373			528,218			2,235,455			1,974,425
Net interest margin (GAAP)	3.52		%	3.48		%	3.52		%	3.54		%	3.49		%	3.52		%	3.51		%
Net interest margin, fully taxable-equivalent (non-GAAP)	3.54			3.50			3.54			3.56			3.51			3.53			3.53
(F) Non-interest income	$	130,390		$	130,827		$	124,089		$	116,634		$	113,451		$	501,940		$	488,325
(G) Gains (losses) on investment securities, net	1,505			2,972			650			3,196			(2,835)			8,323			(2,602)
(H) Non-interest expense	384,453			380,028			381,461			366,090			368,539			1,512,032			1,402,724
Efficiency ratio (H/(D+F-G))	53.94		%	54.69		%	56.92		%	57.21		%	57.46		%	55.64		%	57.17		%
Efficiency ratio (non-GAAP) (H/(E+F-G))	53.73			54.47			56.68			56.95			57.18			55.40			56.90


	Three Months Ended															Years Ended
	Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,			Dec 31,	Dec 31,
(Dollars and shares in thousands)	2025			2025			2025			2025			2024			2025	2024
Reconciliation of Non-GAAP Tangible Common Equity Ratio:
Total shareholders’ equity (GAAP)	$	7,258,715		$	7,045,757		$	7,225,696		$	6,600,537		$	6,344,297

Less: Non-convertible preferred stock (GAAP)	(425,000)			(425,000)			(837,500)			(412,500)			(412,500)
Less: Acquisition-related intangible assets (GAAP)	(895,959)			(902,936)			(908,639)			(913,004)			(918,632)
(I) Total tangible common shareholders’ equity (non-GAAP)	$	5,937,756		$	5,717,821		$	5,479,557		$	5,275,033		$	5,013,165
(J) Total assets (GAAP)	$	71,142,046		$	69,629,638		$	68,983,318		$	65,870,066		$	64,879,668
Less: Acquisition-related intangible assets (GAAP)	(895,959)			(902,936)			(908,639)			(913,004)			(918,632)
(K) Total tangible assets (non-GAAP)	$	70,246,087		$	68,726,702		$	68,074,679		$	64,957,062		$	63,961,036
Common equity to assets ratio (GAAP) (L/J)	9.6		%	9.5		%	9.3		%	9.4		%	9.1		%
Tangible common equity ratio (non-GAAP) (I/K)	8.5			8.3			8.0			8.1			7.8


Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity	$	7,258,715		$	7,045,757		$	7,225,696		$	6,600,537		$	6,344,297
Less: Non-convertible preferred stock (GAAP)	(425,000)			(425,000)			(837,500)			(412,500)			(412,500)
(L) Total common equity	$	6,833,715		$	6,620,757		$	6,388,196		$	6,188,037		$	5,931,797
(M) Actual common shares outstanding	66,975			66,961			66,938			66,919			66,495
Book value per common share (L/M)	$	102.03		$	98.87		$	95.43		$	92.47		$	89.21
Tangible book value per common share (non-GAAP) (I/M)	88.66			85.39			81.86			78.83			75.39

Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
(N) Net income applicable to common shares	$	214,657		$	188,913		$	188,536		$	182,048		$	178,371		$	774,154		$	667,081
Add: Acquisition-related intangible asset amortization	4,999			5,196			5,580			5,618			5,773			21,393			12,095
Less: Tax effect of acquisition-related intangible asset amortization	(1,310)			(1,403)			(1,495)			(1,421)			(1,547)			(5,626)			(3,217)
After-tax Acquisition-related intangible asset amortization	$	3,689		$	3,793		$	4,085		$	4,197		$	4,226		$	15,767		$	8,878
(O) Tangible net income applicable to common shares (non-GAAP)	$	218,346		$	192,706		$	192,621		$	186,245		$	182,597		$	789,921		$	675,959
Total average shareholders’ equity	$	7,166,608		$	6,955,543		$	6,862,040		$	6,460,941		$	6,418,403		$	6,863,474		$	5,826,940
Less: Average preferred stock	(425,000)			(483,288)			(599,313)			(412,500)			(412,500)			(480,068)			(412,500)
(P) Total average common shareholders’ equity	$	6,741,608		$	6,472,255		$	6,262,727		$	6,048,441		$	6,005,903		$	6,383,406		$	5,414,440
Less: Average acquisition-related intangible assets	(901,022)			(906,032)			(910,924)			(916,069)			(921,438)			(908,464)			(778,283)
(Q) Total average tangible common shareholders’ equity (non-GAAP)	$	5,840,586		$	5,566,223		$	5,351,803		$	5,132,372		$	5,084,465		$	5,474,942		$	4,636,157
Return on average common equity, annualized (N/P)	12.63		%	11.58		%	12.07		%	12.21		%	11.82		%	12.13		%	12.32		%
Return on average tangible common equity, annualized (non-GAAP) (O/Q)	14.83			13.74			14.44			14.72			14.29			14.43			14.58

Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:
Income before taxes	$	302,223		$	296,041		$	267,088		$	253,055		$	253,081		$	1,118,407		$	947,089
Add: Provision for credit losses	27,588			21,768			22,234			23,963			16,979			95,553			101,047
Pre-tax income, excluding provision for credit losses (non-GAAP)	$	329,811		$	317,809		$	289,322		$	277,018		$	270,060		$	1,213,960		$	1,048,136


	Three Months Ended										Years Ended
	Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,		Dec 31,		Dec 31,
(Dollars and shares in thousands, except per share data)	2025		2025		2025		2025		2024		2025		2024
Reconciliation of Non-GAAP Net Income per Common Share:
Net income	$	223,024	$	216,254	$	195,527	$	189,039	$	185,362	$	823,844	$	695,045
Preferred stock dividends	8,367		13,295		6,991		6,991		6,991		35,644		27,964
Preferred stock redemption	—		14,046		—		—		—		14,046		—
(R) Net income applicable to common shares	$	214,657	$	188,913	$	188,536	$	182,048	$	178,371	$	774,154	$	667,081
(S) Weighted average common shares outstanding	66,970		66,952		66,931		66,726		66,491		66,896		63,685
Dilutive potential common shares	1,143		1,028		888		923		1,233		998		1,016
(T) Average common shares and dilutive common shares	68,113		67,980		67,819		67,649		67,724		67,894		64,701
Net income per common share - Basic (R/S)	$	3.21	$	2.82	$	2.82	$	2.73	$	2.68	$	11.57	$	10.47
Net income per common share - Diluted (R/T)	$	3.15	$	2.78	$	2.78	$	2.69	$	2.63	$	11.40	$	10.31
Preferred stock series F excess one-time extended first dividend	$	—	$	4,927	$	—	$	—	$	—	$	4,927	$	—
Preferred stock redemption	—		14,046		—		—		—		14,046		—
(U) Total non-recurring preferred stock offering impact (non-GAAP)	$	—	$	18,973	$	—	$	—	$	—	$	18,973	$	—
Net income per common share - Basic (non-GAAP) (R+U)/S	$	3.21	$	3.11	$	2.82	$	2.73	$	2.68	$	11.86	$	10.47
Net income per common share - Diluted (non-GAAP) (R+U)/T	$	3.15	$	3.06	$	2.78	$	2.69	$	2.63	$	11.68	$	10.31


	Dec 31,		Dec 31,		Dec 31,		Dec 31,		Dec 31,		Dec 31,		Dec 31,		Dec 31,		Dec 31,
	2023		2022		2021		2020		2019		2018		2017		2016		2015
Reconciliation of Non-GAAP Tangible Book Value per Common Share:
Total shareholders’ equity	$	5,399,526	$	4,796,838	$	4,498,688	$	4,115,995	$	3,691,250	$	3,267,570	$	2,976,939	$	2,695,617	$	2,352,274
Less: Non-convertible preferred stock (GAAP)	(412,500)		(412,500)		(412,500)		(412,500)		(125,000)		(125,000)		(125,000)		(251,257)		(251,287)
(V) Less: Intangible assets (GAAP)	(679,561)		(675,710)		(683,456)		(681,747)		(692,277)		(622,565)		(519,505)		(520,438)		(495,970)
(I) Total tangible common shareholders’ equity (non-GAAP)	$	4,307,465	$	3,708,628	$	3,402,732	$	3,021,748	$	2,873,973	$	2,520,005	$	2,332,434	$	1,923,922	$	1,605,017


(M) Actual common shares outstanding	61,244		60,794		57,054		56,770		57,822		56,408		55,965		51,881		48,383
Book value per common share ((I-V)/M)	$	81.43	$	72.12	$	71.62	$	65.24	$	61.68	$	55.71	$	50.96	$	47.11	$	43.42
Tangible book value per common share (non-GAAP) (I/M)	70.33		61.00		59.64		53.23		49.70		44.67		41.68		37.08		33.17

WINTRUST SUBSIDIARIES

Wintrust is a financial holding company whose common stock is traded on the Nasdaq Global Select Market (Nasdaq: WTFC) that operates bank retail locations in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. Its 16 community bank subsidiaries are: Barrington Bank & Trust Company, N.A., Beverly Bank & Trust Company, N.A., Crystal Lake Bank & Trust Company, N.A., Hinsdale Bank & Trust Company, N.A., Lake Forest Bank & Trust Company, N.A., Libertyville Bank & Trust Company, N.A., Macatawa Bank, N.A., Northbrook Bank & Trust Company, N.A., Old Plank Trail Community Bank, N.A., Schaumburg Bank & Trust Company, N.A., St. Charles Bank & Trust Company, N.A., State Bank of The Lakes, N.A., Town Bank, N.A., Village Bank & Trust, N.A., Wheaton Bank & Trust Company, N.A., and Wintrust Bank, N.A.

Additionally, the Company operates various non-bank businesses:

•FIRST Insurance Funding and Wintrust Life Finance, each a division of Lake Forest Bank & Trust Company, N.A., serve commercial and life insurance loan customers, respectively, throughout the United States.

•First Insurance Funding of Canada serves commercial insurance loan customers throughout Canada.

•Tricom, Inc. of Milwaukee provides high-yielding, short-term accounts receivable financing and value-added out-sourced administrative services, such as data processing of payrolls, billing and cash management services, to temporary staffing service clients located throughout the United States.

•Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., engages primarily in the origination and purchase of residential mortgages for sale into the secondary market through origination offices located throughout the United States.

•Wintrust Investments, LLC provides a full range of private client and brokerage services to clients and correspondent banks located primarily in the Midwest.

•Great Lakes Advisors LLC provides money management services and advisory services to individual accounts.

•Wintrust Private Trust Company, N.A., a trust subsidiary, allows Wintrust to service customers’ trust and investment needs at each banking location.

•Wintrust Asset Finance offers direct leasing opportunities.

•CDEC provides Qualified Intermediary services (as defined by U.S. Treasury regulations) for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2024 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company’s financial condition and results of operations from expected developments or events, the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices. Actual results could differ materially from those addressed in the forward-looking statements as a result of numerous factors, including the following:

•economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government shutdown, debt default or rating downgrade, particularly in the markets in which it operates;

•negative effects suffered by us or our customers resulting from changes in U.S. or international trade policies;

•the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses;

•estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period;

•the financial success and economic viability of the borrowers of our commercial loans;

•commercial real estate market conditions in the Chicago metropolitan area, southern Wisconsin and west Michigan;

•the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses;

•inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio;

•changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities;

•the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability;

•competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products;

•failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions;

•unexpected difficulties and losses related to FDIC-assisted acquisitions;

•harm to the Company’s reputation;

•any negative perception of the Company’s financial strength;

•ability of the Company to raise additional capital on acceptable terms when needed;

•disruption in capital markets, which may lower fair values for the Company’s investment portfolio;

•ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith;

•failure or breaches of our security systems or infrastructure, or those of third parties;

•security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft;

•adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware);

•adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors;

•increased costs as a result of protecting our customers from the impact of stolen debit card information;

•accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions;

•ability of the Company to attract and retain senior management experienced in the banking and financial services industries;

•environmental liability risk associated with lending activities;

•the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation;

•losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith;

•the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank;

•the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns;

•the expenses and delayed returns inherent in opening new branches and de novo banks;

•liabilities, potential customer loss or reputational harm related to closings of existing branches;

•examinations and challenges by tax authorities, and any unanticipated impact of tax legislation;

•changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements;

•the ability of the Company to receive dividends from its subsidiaries;

•a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise;

•legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies;

•changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity;

•a lowering of our credit rating;

•changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise;

•regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business;

•increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment;

•the impact of heightened capital requirements;

•increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC;

•delinquencies or fraud with respect to the Company’s premium finance business;

•credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans;

•the Company’s ability to comply with covenants under its credit facility;

•fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and

•widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change.

Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases.

CONFERENCE CALL, WEBCAST AND REPLAY

The Company will hold a conference call on Wednesday, January 21, 2026 at 10:00 a.m. (CST) regarding fourth quarter and year-to-date 2025 earnings results. Individuals interested in participating in the call by addressing questions to management should register for the call to receive the dial-in numbers and unique PIN at the Conference Call Link included within the Company’s press release dated December 31, 2025 available at the Investor Relations, Investor News and Events, Press Releases link on its website at https://www.wintrust.com. A separate simultaneous audio-only webcast link is included within the press release referenced above. Registration for and a replay of the audio-only webcast with an accompanying slide presentation will be available at https://www.wintrust.com, Investor Relations, Investor News and Events, Presentations & Conference Calls. The text of the fourth quarter and year-to-date 2025 earnings press release will also be available on the home page of the Company’s website at https://www.wintrust.com and at the Investor Relations, Investor News and Events, Press Releases link on its website.

EX-99.2 3 q4-2025earningsreleasepr.htm EX-99.2 q4-2025earningsreleasepr

Earnings Release Presentation Q4 2025 Wintrust Financial Corporation

22 This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2024 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time,the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company's financial condition and results of operations from expected developments or events. Actual results could differ materially from those addressed in the forward- looking statements as a result of numerous factors, including the following: • economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government shutdown, debt default or rating downgrade, particularly in the markets in which it operates; • negative effects suffered by us or our customers resulting from changes in U.S. or international trade policies; • the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses; • estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period; • the financial success and economic viability of the borrowers of our commercial loans; • commercial real estate market conditions in the Chicago metropolitan area and southern Wisconsin; • the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses; • inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio; • changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities; • the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability; • competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products; • failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions; • unexpected difficulties and losses related to FDIC-assisted acquisitions; • harm to the Company’s reputation; • any negative perception of the Company’s financial strength; • ability of the Company to raise additional capital on acceptable terms when needed; • disruption in capital markets, which may lower fair values for the Company’s investment portfolio; • ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith; • failure or breaches of our security systems or infrastructure, or those of third parties; • security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft; • adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware); Forward Looking Statements

33 • adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors; • increased costs as a result of protecting our customers from the impact of stolen debit card information; • accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions; • ability of the Company to attract and retain senior management experienced in the banking and financial services industries; • environmental liability risk associated with lending activities; • the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation; • losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith; • the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank; • the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns; • the expenses and delayed returns inherent in opening new branches and de novo banks; • liabilities, potential customer loss or reputational harm related to closings of existing branches; • examinations and challenges by tax authorities, and any unanticipated impact of tax legislation; • changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements; • the ability of the Company to receive dividends from its subsidiaries; • the impact of the Company's transition from LIBOR to an alternative benchmark rate for current and future transactions; • a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise; • legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies; • changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity; • a lowering of our credit rating; • changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise; • regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business; • increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment; • the impact of heightened capital requirements; • increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC; • delinquencies or fraud with respect to the Company’s premium finance business; • credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans; • the Company’s ability to comply with covenants under its credit facility; • fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and • widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change could have an adverse effect on the Company’s financial condition and results of operations, lead to material disruption of the Company’s operations or the ability or willingness of clients to access the Company’s products and services. Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward- looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release and this presentation. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases and presentations. Forward Looking Statements

44 • Record net income of $823.8 million or $11.40 per diluted common share, for the year ended December 31, 2025, compared to net income of $695.0 million, or $10.31 per diluted common share for the same period of 2024 • Record full year net interest income of $2.2 billion was driven by strong earning asset growth • Wintrust's tangible book value per common share (non-GAAP) increased to $88.66 as of December 31, 2025. Tangible book value per common share (non-GAAP) has increased every year since Wintrust became a public company in 1996, a total of 29 years • Total loans increased by approximately $5.0 billion, or 11% compared to December 31, 2024, and was driven by strong organic growth across all of our product offerings Pre-Tax, Pre-Provision1 Full Year 2025 Highlights (Comparative to Full Year 2024) Total DepositsTotal Assets Total Loans Net Income $71.1 billion +$6.3 billion or 10% $53.1 billion +$5.0 billion or 11% $57.7 billion +$5.2 billion or 10% $823.8 million +$128.8 million or 19% Update Format second box BV / TBV Net Interest Income Net Interest Margin $2.2 billion +$261.5 million or 13% (non-GAAP) $88.66 +$13.27 $1.2 billion +$165.8 million or 16% Diluted EPS $11.40 +$1.09 or 11% Current EPS Prior EPS $ 3.15 2.78 $ 0.37 PPNI Prior PPNI $ 329.8 317.8 $12.00 12000000 329,811 317,809 3 Bps: Basis Points 4 See Non-GAAP reconciliation in the Appendix 5 NPLs: Non-Performing Loans Metric DEC 2025 YTD DEC 2024 YTD Difference % Change Net Income $ 823,844 $ 695,045 $ 128,799 19 % Pre-Tax, Pre- Provision 1,213,960 1,048,136 $ 165,824 16 % Diluted EPS $ 11.40 $ 10.31 $ 1.09 11 % Net Interest Income 2,224,052 1,962,535 $ 261,517 13 % NIM 3.52 % 3.51 % 0.0100 % 58 TBV 88.66 75.39 $ 13.27 18 % Total Assets 71,142,046 64,879,668 $ 6,262,378 10 % Rounding support Total Loans 53,105,101 48,055,037 $ 5,050,064 11 % $ 5,030,064 Total Deposits 57,717,191 52,512,349 $ 5,204,842 10 % Full Year 2025 Takeaways 1 Pre-tax income, excluding provision for credit losses (non-GAAP) – See non-GAAP reconciliation in the Appendix (GAAP) $102.03 +$12.82 (non-GAAP) 3.53% 0 bp (GAAP) 3.52% +1 bp NIM FY GAAP NIM PY GAAP Change 3.52% 3.51% 1.00 NIM FY Non- GAAP NIM PY Non- GAAP Change 3.53% 3.53% 0.00 BV FY BV PY Change $ 102.03 $ 89.21 $ 12.82 TBV TBV PY Change 88.66 75.39 13.27

55 • Record quarterly net income of $223.0 million • Q4 2025 net interest margin (non-GAAP) of 3.54% was four basis points better than the prior quarter and within our targeted range Q4 2025 Highlights (Comparative to Q3 2025) • Total loans increased by approximately $1.0 billion, or 8% annualized, and was driven by growth across most loan categories • Total deposits increased by approximately $1.0 billion, or 7% annualized, and was driven by our diversified product offerings Pre-Tax, Pre-Provision1 Diversified Balance Sheet Total DepositsTotal Assets Total Loans Net Income $71.1 billion +$1.5 billion $53.1 billion +$1.0 billion $57.7 billion +$1.0 billion $223.0 million +$6.8 million Strong Credit Quality • Non-performing loans totaled $186 million and comprised 0.35% of total loans at December 31, 2025, as compared to $163 million and 0.31% of total loans at September 30, 2025 • Allowance for credit losses on total core loans was 1.32% at December 31, 2025 • Net charge-offs of 17 basis points in the fourth quarter of 2025 Efficiency RatioReturn on Assets ROE / ROTCE 1.27% +1 bp (GAAP) 53.94% -75 bps $329.8 million +$12.0 million 1 Pre-tax income, excluding provision for credit losses (non-GAAP) – See non-GAAP reconciliation in the Appendix for all metrics denoted as non-GAAP Diluted EPS $3.15 +$0.37 Current EPS Prior EPS $ 3.15 2.78 $ 0.37 PPNI Prior PPNI $ 329.8 317.8 $12.00 12000000 329,811 317,809 Stable Margin Supports Earnings (non-GAAP) 53.73% -74 bps Efficiency Ratio (GAAP) Current Q Efficiency Ratio (GAAP) Prior Q Efficiency Ratio (Non- GAAP) Current Q Efficiency Ratio (Non- GAAP) Prior Q 53.94 % 54.69 % 53.73 % 54.47 % % Change File does not have calc for GAAP numbers (73.9999999999996) Check -75.00 -74.00 (GAAP) 12.63% +105 bps (non-GAAP) 14.83% +109 bps Current ROE Prior ROE Current ROTCE Prior ROTCE 12.63 % 11.58 % 14.83 % 13.74 % 105 109 PENDING 2 Shares issued for the acquisition of Macatawa increased average dilutive shares by 3,118,000 shares

66 Diluted EPS Quarterly Trend Record Quarterly Pre-Tax Income, Excluding Provision for Credit Losses Record Quarterly Net Income $185.4 $189.0 $195.5 $216.3 $223.0 1.16% 1.20% 1.19% 1.26% 1.27% Net Income ROA Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $2.63 $2.69 $2.78 $2.78 $3.15 Diluted EPS Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $270.1 $277.0 $289.3 $317.8 $329.8 Pre-Tax Income, excluding Provision for Credit Losses (non-GAAP) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ($ in Millions) ($ in Millions) 1 See non-GAAP reconciliation in Appendix Q4 2025 Highlights Earnings Summary Differentiated, highly diversified and sustainable business model Manual Input - Highlights May Change QoQ • Record quarterly net income of $223.0 million supported by strong loan and deposit growth and an improved net interest margin • Q4 2025 pre-tax income, excluding provision for credit losses (non- GAAP) totaled $329.8 million as compared to $317.8 million in the third quarter of 2025, a record for the Company 1The first quarter of 2024 includes FDIC special assessment of $5.2 million and net gain on sale of RBA of $19.3 million 1 1 1

77 32% 26% 16% 17% 8% 1% Commercial Commercial Real Estate PFR - Property and Casualty Insurance PFR - Life Insurance Residential Real Estate All Other Loans $52,063 $500 $322 $173 $265 $(218) $53,105 9/30/2025 Commercial Commercial Real Estate Residential Real Estate PFR - Life Insurance All Other Loans 12/31/2025 $48.1 $52.1 $53.1 6.68% 6.44% 6.27% Total Loans Average Total Loan Yield 12/31/2024 9/30/2025 12/31/2025 Year-over-Year Change $5.6B or 11% in Total Loans Loan Portfolio Diversified loan portfolio Loan Growth Across Most Major Loan Categories ($ in Millions) Diversified Loan Mix (as of 12/31/2025) Robust Organic Loan Growth in the Fourth Quarter ($ in Billions) • Loan growth during the fourth quarter totaled $1.0 billion, or 8% on an annualized basis • Strong broad based loan growth • Year-over-year loan growth of $5.0 billion, or 11%, driven by robust organic growth Highlights

88 • Fourth quarter deposit growth totaling $1.0 billion or 7% annualized • Year-over-year deposit growth of $5.2 billion, or 10%, was supported by strong organic growth in our key markets • Non-interest bearing deposit balances increased by $472 million from the third quarter and represented 20% of deposits at the end of the year $56,711 $472 $1,099 $(541) $(477) $453 $57,717 9/30/2025 Non-Interest- Bearing Money Market CDs NOW Other Interest- Bearing 12/31/2025 $52.5 $56.7 $57.7 3.39% 3.15% 2.90% Total Deposits Rate Paid on Average Total Interest-Bearing Deposits 12/31/2024 9/30/2025 12/31/2025 1 1Includes: Savings and deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), trust and asset management customers of the Company Deposit Portfolio Enviable core deposit franchise in Chicago, Milwaukee and Grand Rapids market areas Quarterly Growth Primarily Driven by Strong Growth in Money Market Products and a Shift to Non-Interest-Bearing Deposits ($ in Millions) Strong Organic Deposit Growth in the Fourth Quarter ($ in Billions) Highlights 1 Manual Input - Highlights May Change QoQ

99 9.9% 10.1% 10.0% 10.2% 10.3% 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 Manual Input- Investment Duration comes from Scott Capital/Liquidity Current capital levels are well in excess of regulatory thresholds $6.2 $3.3 $0.1 Available-for-Sale Held-to-Maturity Other 1 Ratios for Q4 2025 are estimated 9.9% 10.2% 10.3% 10.7% 10.9% 11.0% 12.3% 12.4% 12.4% 9.4% 9.5% 9.7% CET1 Ratio Tier 1 Capital Ratio Total Capital Ratio Tier 1 Leverage Ratio 12/31/2024 9/30/2025 12/31/2025 CET1 Ratio 1 Year-over-Year Growth in CET1Robust Capital Levels Strategically Balanced Investment Portfolio (as of 12/31/2025) ($ in Billions) • The Company's capital levels are well in excess of regulatory thresholds • Investment portfolio at 14% of total assets as of December 31, 2025 Q4 2025 Highlights 1 Total Investment Portfolio Yield (Q4 '25): 3.78% Duration: 5.9 Years $9.6 Manual Input - Highlights May Change QoQ Manual Input - CET1 calculation comes from Mark Expect Q4 2025 CET1 +10.0% Pending Capital Ratios Decline Driven by Return of Prior Preferred Issuance in the Third Quarter

1010 $4.11 $5.50 $6.03 $6.19 $7.08 $9.03 $11.65 $14.84 $16.07$17.28 $18.97 $19.02 $20.78 $23.22 $25.80$26.72 $29.28 $29.93 $32.45$33.17 $37.08 $41.68 $44.67 $49.70 $53.23 $59.64 $61.00 $70.33 $75.39 $88.66 Tangible Book Value Per Common Share (non-GAAP) 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 Tangible Book Value Per Common Share (non-GAAP) Wintrust has grown TBV Per Common Share every year since going public in 1996, and increased TBV Per Common Share to $88.66 as of December 31, 2025 1 1Q2 2024 is a Preliminary Number Manual Input - S&P File

1111 Total Shareholder Return Wintrust's commitment to growing shareholder value is exemplified by outperforming the KBW Nasdaq Regional Banking Total Return Index (KRXTR) Total Shareholder Return of WTFC Compared to KRXTR (1-Year) 100.00% 113.68% 106.50% WTFC KRXTR 12 /31 /24 12 /31 /25 80.00% 100.00% 120.00% 140.00% 160.00% Total Shareholder Return of WTFC Compared to KRXTR (3-Year) 100.00% 111.56% 151.44% 171.63% 99.60% 112.75% 120.08% WTFC KRXTR 12 /31 /22 12 /31 /23 12 /31 /24 12 /31 /25 50.00% 100.00% 150.00% 200.00% Total Shareholder Return of WTFC Compared to KRXTR (5-Year) 100.00% 150.65% 142.51% 158.50% 213.68% 241.61% 136.64% 127.17% 126.66% 143.38% 152.71% WTFC KRXTR 12 /31 /20 12 /31 /21 12 /31 /22 12 /31 /23 12 /31 /24 12 /31 /25 0.00% 100.00% 200.00% 300.00% 400.00% Total Shareholder Return of WTFC Compared to KRXTR (10-Year) 100.00% 150.54% 171.85% 140.58% 151.61% 133.64% 197.40% 187.16% 207.30% 276.77% 311.93% 139.01% 141.45% 116.70% 144.49% 131.91% 180.24% 167.75% 167.07% 189.13% 201.44% WTFC KRXTR 12 /31 /15 12 /31 /16 12 /30 /17 12 /31 /18 12 /31 /19 12 /31 /20 12 /31 /21 12 /31 /22 12 /31 /23 12 /31 /24 12 /31 /25 50.00% 100.00% 150.00% 200.00% 250.00% 300.00% 350.00% Manual Input - S&P File *Data Source: S&P Capital IQ

1212 • Our hedging program manages our interest rate risk. As a result, we anticipate that the repricing of variable rate loans and cash is substantially offset by the impact of hedges and deposit rate changes • We believe we are well-positioned for strong financial performance as we expect the combination of a stable net interest margin and balance sheet growth to result in continued net interest income growth through 2026 • Well-positioned for strong financial performance as we continue our momentum into the remainder of the year and 2025 • Expect the combination of a stable net interest margin and balance sheet growth to result in continued net interest income growth over the next few quarters • Hedging program to protect both net interest margin and capital during the new lower rate fed cycle $6.15 $5.90 $5.90 $5.65 $4.85 $3.95 $3.70 $3.70 $3.45 $3.15 $1.75 $1.75 $1.75 $1.75 $1.25 $0.45 $0.45 $0.45 $0.45 $0.45 Received Fixed Swaps Costless Collars Interest Rate Floor 12/31/2025 3/31/2026 6/30/2026 9/30/2026 12/31/2026 $525.1 $526.5 $546.7 $567.0 $583.9 3.51% 3.56% 3.54% 3.50% 3.54% Net Interest Income NIM, fully taxable-equivalent (non-GAAP) 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3.5% (0.14)% 0.24% (0.06)% 3.54% NIM (non-GAAP) Q1 2024 Earning Asset Yield Interest-Bearing Liability Rate Net Free Funds NIM (non-GAAP) Q2 2024 Net Interest Margin/Income Net interest margin within projected range; coupled with strong earning asset growth drove net interest income higher Derivatives Held by the Company as of December 31, 2025 that Hedge the Cash Flows of Variable Rate Loans1 2.9% 1.0% 1.8% 1.0% Static Ramp 6/30/2023 6/30/2024 Percentage Change in Net Interest Income Over a One-Year Time Horizon Rising Rates Scenario + 100 Basis Points (2.9)% 0.6% (0.9)% 0.9% Static Ramp 6/30/2023 6/30/2024 1 2 Percentage Change in Net Interest Income Over a One-Year Time Horizon Falling Rates Scenario - 100 Basis Points 1 Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet 2 Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months Q1 '24 NII $567.0MM Q2 '24 NII $583.9MMNIM Linking Chart 12/31/2025 9/30/2025 Variance Total earning assets (7) 5.79 % 5.93 % (0.14) % Total interest-bearing liabilities 2.97 % 3.21 0.24 % Net free funds/contribution (6)/ Net interest income/Net interest margin 0.72 % 0.78 -0.06 NIM 3.54 % 3.5 Manual Input - Data Comes from Joel Pending Expect sustained NII growth and Stable NIM through 2025 Q4 2025 Record NII Boosted By Strong Organic Growth and Stable NIM Q4 2025 Highlights As of December 31, 2025 Collars Weighted Average Cap Rate: 3.70% Collars Weighted Average Floor Rate: 2.21% Receive Fixed Swaps Weighted Average Rate: 3.82% Interest Rate Floor Weighted Average Strike Rate: 2.50% 1 Balances shown exclude cash flow hedges with future effective starting dates and those that have matured as of 12/31/2025. Reference the Appendix slide 24 for the complete derivative schedule. ($ in Billions) ($ in Millions) • Expect sustained NII growth and Stable NIM through 2025 Highlights Q4 2025 1 Balances shown represent the notional amount of cash flow hedging derivatives that are effective as of the dates presented. Reference the Appendix slide 24 for the complete derivative schedule.

1313 Wealth Management Delivered Growth In Both AUA and Revenue $113.5 $116.6 $124.1 $130.8 $130.4 $38.8 $34.0 $36.8 $37.2 $39.4 $15.3 $15.3 $15.2 $15.5 $16.4 $18.9 $19.4 $19.5 $19.8 $20.4 $20.0 $27.4 $29.4 $33.8 $31.6 $20.5 $20.5 $23.2 $24.5 $22.6 Wealth Management Operating Lease Income, net Service Charges on Deposits Other ; incl. Call Option Income Mortgage Banking Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $660.3 $460.5 $681.5 $643.4 $797.2 $483.4 $348.5 $523.8 $505.8 $589.1 $176.9 $112.0 $157.7 $137.6 $208.1 Retail Originations Veterans First Originations Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Mortgage Originations For Sale Reflect Current Market Conditions MSRs Effectively Hedged to Moderate Impact to Fair Value Non-Interest Income Increased Year-over-Year Across All Major Categories 1 Other - includes Interest Rate Swap Fees, BOLI, Administrative Services, FX Remeasurement Gains/(Losses), Early Pay-Offs of Capital Leases, Gains/(losses) on investment securities, net, Fees from covered call options, Trading gains/(losses), net and Miscellaneous 1 $38.8 $34.0 $36.8 $37.2 $39.4 $51.2 $51.1 $53.2 $55.1 $56.1 Total Wealth Management Revenue Assets Under Administration ($ in billions) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ($ in Millions) ($ in Millions) % of MSRs to Loans Serviced for Others Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 1.64% 1.58% 1.55% 1.52% 1.55% $203.8 $196.3 $193.1 $190.9 $195.0 $12,401 $12,402 $12,471 $12,524 $12,609 MSRs, at fair value Loans Serviced for Others Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ($ in Millions) ($ in Millions) Non-Interest Income Diversified fee businesses supported non-interest income levels despite challenging mortgage environment Manual Input - Data Comes from Mortgage Team Pending Pending

1414 57.18% 56.95% 56.68% 54.47% 53.73% Efficiency Ratio (non-GAAP) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $212.1 $211.5 $219.5 $219.7 $222.6 $121.0 $123.9 $123.2 $124.6 $124.9 $54.8 $52.5 $55.9 $56.2 $57.1 $36.3 $35.1 $40.5 $38.8 $40.6 Salaries Commissions and Incentive Compensation Benefits Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $36.6 $45.1 $50.1 $52.9 $56.3 $64.9 $71.1 2.79% 2.51% 2.42% 2.33% 2.45% 2.36% 2.26% Total Assets Non-Interest Expense as a % of Average Assets FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Efficiency Ratio Improved as Income Outpaced Expense Growth Q1 2024 Non-Interest Expense Advertising and Marketing FDIC Special Assessment Salaries and Benefits Occupancy Expense All Other Expenses Q2 2024 Non-Interest Expense Non-Interest Expense We continue to manage our expenses and believe they are in line with Company growth ($ in Millions) Strong Asset Growth Coupled With Prudent Expense Management ($ in Billions) 1 Q1 2024 Includes FDIC Special Assessment of $5.2 million and Net Gain on Sale of RBA of $19.3 million 1 Total Salaries and Benefits Salaries and Benefits Remained Relatively Flat Total Salaries and Benefits Expense Relatively Stable Quarter over Quarter as Q1 2025 Impacted

1515 $454.6 $(2.4) $(2.3) $10.6 $460.5 9/30/2025 Portfolio Changes Baseline Economic Factors Macroeconomic Uncertainty Factors 12/31/2025 $15.9 $12.6 $13.3 $24.6 $21.8 $17.0 $24.0 $22.2 $21.8 $27.6 0.13% 0.11% 0.11% 0.19% 0.17% NCOs Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $170.8 $172.4 $188.8 $162.6 $185.8 $119.6 $121.5 $143.7 $125.1 $137.3 $51.2 $50.9 $45.1 $37.5 $48.5 0.36% 0.35% 0.37% 0.31% 0.35% NPLs as a % of Total Loans PFR - Commercial NPLs PFR - Life and Commercial NPLs Commercial, CRE and Other NPLs 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $(33) $(15) $(42) $(41) $2 (0.01)% 0.00% (0.01)% (0.01)% 0.00% NCOs Annualized NCOs as a % of Average Total Loans Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 $50,610 $51,727 Q3 2025 Q4 2025 $863 $787 Q3 2025 Q4 2025 $590 $591 Q3 2025 Q4 2025 Pass and Loans Guaranteed1 Special Mention Substandard2 1Pass and Loans Guaranteed: Includes early buy-out loans guaranteed by U.S. government agencies 2Substandard: Substandard includes Substandard Accrual and Substandard Nonaccrual/Doubtful 97% 97% 2% 2% 1% 1% Credit Quality Diversified business lines and strong credit management support stable credit quality Low and Consistent Levels of Non-Performing Loans ($ in Millions) ($ in Millions) Special Mention and Substandard Percentages Remained Stable Quarter over Quarter $15.9 $12.6 $13.3 $24.6 $21.8 $17.0 $24.0 $22.2 $21.8 $27.6 0.13% 0.11% 0.11% 0.19% 0.17% NCOs Total Provision for Credit Losses Annualized NCOs as a % of Average Total Loans Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ($ in Millions) $75 $72 $1 $1 $1 0.01% 0.01% 0.00% 0.00% 0.00% NPLs Annualized NPLs as a % of Average Total Loans Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 $15.5 Day 1 Macatawa Provision for Credit Losses $6.8 Stable Allowance For Credit Losses Quarter over Quarter ($ in Millions) 3Portfolio Changes: Includes new volume and run- off, changes in credit quality, aging of existing portfolio, shifts in segmentation mix and changes in net charge-offs 3 Manual Input - All Data comes from Mike Reiser Manual Input - All Data comes from Mike Reiser $15.5 Provision Remained Relatively Stable

1616 0.25% 0.40% 0.45% 0.41% 0.46% 0.48% 0.34% 0.51% 0.29% 0.34% 0.39% 0.81% 1.58% 1.74% 1.52% 1.30% 1.03% 0.85% 0.62% 0.56% 0.50% 0.47% 0.44% 0.36% 0.32% 0.16% 0.21% 0.27% 0.30% 0.29% NPA/TA 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 1Q2 2024 is a Preliminary Number Non-Performing Assets to Total Assets NPAs continue to remain historically low Historical Data are manual input from S&P File. Current quarter is linked

1717 • Increase in allowance for credit losses driven by increase in macroeconomic uncertainty factors, partially offset by changes in the portfolio • Coverage across all portfolios remains stable to protect against downside risks in an uncertain macroeconomic environment • Increase in allowance driven by net loan growth across most segments coupled with changes in credit quality within specific products of the portfolio • Strong coverage across all portfolios designed to protect against potential future economic downturn $51.0 $52.1 $53.1 0.90% 0.87% 0.87% Total Loan Period End Balance Allowance as a % of Total Loans 6/30/2025 9/30/2025 12/31/2025 $29.9 $30.6 $31.3 1.37% 1.34% 1.32% Core Loan Period End Balance Allowance as a % of Category 6/30/2025 9/30/2025 12/31/2025 $21.1 $21.5 $21.8 0.22% 0.21% 0.22% Niche Loan Period End Balance Allowance as a % of Category 6/30/2025 9/30/2025 12/31/2025 Credit Quality - Allowance for Credit Losses The Company remains well-reserved Consistently Well-Reserved Across Our Core1 Loan PortfolioAppropriate Allowance Coverage on Total Loan Portfolio ($ in Billions) ($ in Billions) Allowance Provides Appropriate Coverage Due To Minimal Historic Losses in Niche1 Portfolio ($ in Billions) Q4 2025 Highlights Manual Input - All Data comes from Mike Reiser 1Niche Loans consists of: Franchise, Mortgage warehouse lines of credit, Community Advantage - homeowners association, Insurance agency lending, Premium Finance receivables, and Consumer and other. All other loans are considered Core. 1 1

1818 $175.8 $201.2 $194.6 $189.5 $178.5 1.13% 1.26% 1.19% 1.15% 1.05% Calculated Allowance Allowance as a % of Category 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $73.6 $70.6 $80.9 $66.6 $78.1 0.47% 0.44% 0.49% 0.40% 0.46% NPLs NPL as a % of Category 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $15,575 $15,931 $16,387 $16,544 $17,045 0.11% 0.23% 0.11% 0.49% 0.29% Period End Balance Net Charge-Off Ratio (Annualized) 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 43% 9% 5% 17% 7% 9% 3% 7% Commercial and industrial Asset-based lending Municipal Leases Franchise Mortgage warehouse lines of credit Community Advantage - HOA Insurance agency lending Credit Quality - Commercial Loans Diversified portfolio with low net charge-offs Low Levels of Non-Performing Commercial LoansStrong Loan Growth Coupled with Proactive Credit Management ($ in Millions) ($ in Millions) Allowance Provides Appropriate Coverage Commercial Loan Composition (as of 12/31/2025) ($ in Millions)

1919 $12,904 $12,915 $13,292 $13,619 $13,941 0.03% 0.01% 0.17% 0.00% 0.16% Period End Balance Net Charge-Off Ratio (Annualized) 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $21.0 $26.2 $32.8 $28.2 $25.1 0.16% 0.20% 0.25% 0.21% 0.18% NPLs NPL as a % of Category 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 215.7 215.7 224.4 230.5 246.9 1.67% 1.67% 1.69% 1.69% 1.77% Calculated Allowance Allowance as a % of Category 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 12% 23% 10% 25% 13% 15% 2% Office Industrial Retail Multi-family Mixed use and other Commercial and Residential construction Land Credit Quality - Commercial Real Estate Loans Well-diversified portfolio with a majority of its exposure in stabilized, income producing properties Continued Low Levels of NPLs in Q4 2025 Strong Growth in Portfolio With Low Levels of Net Charge-offs ($ in Millions) ($ in Millions) Ample Allowance Levels to Protect Against Potential Future Market Pressure Commercial Real Estate Loan Composition (as of 12/31/2025) ($ in Millions)

2020 Chicago CBD, 9% Other CBD, 10% Suburban, 81% $385.3 $297.4 $310.2 $238.3 $280.9 $176.5 $146.0 $148.7 $205.7 $133.5 $164.3 $45.8 Total CRE Office Non-Medical Non Owner-Occupied <$2M $2M-$5M $5M-$10M $10M-$15M $15M-$20M >=$20M Medical Non Owner- Occupied, 33% Medical Owner Occupied, 2% Non-Medical Owner- Occupied, 15% Non-Medical Non Owner-Occupied, 50% 1Chicago CBD includes the following zip codes: 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60610, 60611, 60654, 60661 2Other CBD includes the following metropolitan areas: Milwaukee, Boulder, Orlando, Saint Paul, Columbus, Akron, Cincinnati, San Antonio 1 2 $1,360.9 $168.9$158.8 $844.0 $246.9 $560.9 276912 92 48 42 27 19 11 17 10 6 2 Number of Loans Per Category CRE Office Portfolio (as of 12/31/2025) CRE office represents a minimal percentage of the total loan portfolio CRE Office Portfolio Geography ($ in Millions) CRE Office Portfolio Composition Granularity of CRE Office Portfolio by Loan Size ($ in Millions) ($ in Millions) <$2M $2M-$5M $5M-$10M $10M-$15M $15M-$20M >=$20M # of Loans CRE 912 92 42 19 17 6 Non Med 276 48 27 11 10 2 Portfolio Characteristics As of 9/30/2025 As of 12/31/2025 Balance ($ in Millions) $1,578 $1,689 CRE office as a % to Total CRE 11.59% 12.11% CRE office as a % to Total Loans 3.03% 3.18% Average Size of Loan ($ in Millions) $1.5 $1.6 Non-Performing Loan (NPL) Ratio 1.19% 0.81% Loans Still Accruing that are 30-89 Days Past Due Ratio 1.00% 0.39% Owner Occupied or Medical % 47% 50% $36.8 Manual Input - Data Comes from Mario's Team Medical $ 560.9 Medical Owner Occupied $ 36.8 Non-Medical Owner-Occupied $ 246.9 Non-Medical Non Owner- Occupied $ 844.0 Chicago CBD $ 158.8 Other CBD $ 168.9 Suburban $ 1,360.9 Total $ 1,688.6 PENDING

2121 Manual Input - Data comes from Dominic Sarro $6.4 $3.0 $0.3 $0.0 $0.0 0.08% 0.04% 0.00% 0.00% 0.00% NPLs NPL as a % of Category 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $9,303 $1,640 Cash Surrender Value Other $8,147 $8,365 $8,507 $8,759 $9,024 0.00% 0.00% 0.00% 0.00% 0.00% Period End Balance Net Charge-Off Ratio (Annualized) 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 1 Loan Collateral reported at actual values versus credit advance rate 2 Collateral Coverage is calculated by dividing Total Loan Collateral (Undiscounted) by Total Loan Portfolio Balance 5% 72% 6% 17% Annuity Brokerage Account Certificate of Deposit Letters of Credit OtherCollateral Coverage2 of 121% Credit Quality Premium Finance Receivables - Life Insurance Life insurance portfolio remains steady and has continued to demonstrate exceptional credit quality Non-Performing Loans Remain LowStrong Growth with Pristine Credit Quality ($ in Millions) ($ in Millions) Total Loan Collateral1 by Type (as of 12/31/2025) "Other" Loan Collateral1 by Type (as of 12/31/2025) ($ in Millions) Pending

2222 Moderate Levels of Non-Performing LoansSeasonal Portfolio Changes $7,272 $7,240 $8,323 $8,366 $8,183 0.59% 0.20% 0.16% 0.20% 0.20% Period End Balance Net Charge-Off Ratio (Annualized) 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $4,565 $4,392 $5,586 $5,084 $4,822 Originations Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $44.8 $47.9 $44.8 $37.5 $48.5 0.62% 0.66% 0.54% 0.45% 0.59% NPLs NPL as a % of Category 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 $4,172 $2,570 $1,205 $236 Current Premium Finance Receivables - Property and Casualty Insurance Loan Balances Projected to Mature Based on Modeled Contractual Cash Flows ≤ 3 Months 4-6 Months 7-9 Months > 9 months Premium Finance Receivables - Property and Casualty Insurance ($ in Millions) ($ in Millions) Projected Repayments Steady Origination Volume Compared to Prior Year ($ in Millions) ($ in Millions) Manual Input - Data comes from Mark B Manual Input - Data comes from Thanos Polyzois and Matt for Canada Pending Pending 1 16/30/2024 Balances are net of approximately $698MM loan sale

2323 Appendix

2424 Hedging activities had a two basis point unfavorable impact to our Q4 2025 NIM as compared to a five basis point unfavorable impact to our Q3 2025 NIM. These derivatives moderate our interest rate sensitivity and serve the purpose of stabilizing net interest income performance across various interest rate scenarios. Hedge Type Effective Date Notional Maturity Date Cap Rate Floor Rate Swap Rate Costless Collar 9/1/2022 $1.25B 9/1/2027 3.45% 2.00% N/A Costless Collar 10/1/2022 $0.5B 10/1/2026 4.32% 2.75% N/A Receive Fixed Swap 1/31/2023 $0.5B 12/31/2026 N/A N/A 3.51% Receive Fixed Swap 2/1/2023 $0.25B 2/1/2026 N/A N/A 3.68% Receive Fixed Swap 2/1/2023 $0.25B 2/1/2027 N/A N/A 3.45% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2026 N/A N/A 3.92% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2028 N/A N/A 3.53% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2026 N/A N/A 4.18% Receive Fixed Swap 3/1/2023 $0.25B 3/1/2028 N/A N/A 3.75% Receive Fixed Swap 4/1/2023 $0.25B 7/1/2026 N/A N/A 4.45% Receive Fixed Swap 4/1/2023 $0.25B 7/1/2027 N/A N/A 4.15% Receive Fixed Swap 10/1/2024 $0.35B 10/1/2029 N/A N/A 3.99% Receive Fixed Swap 11/1/2024 $0.35B 11/1/2029 N/A N/A 4.25% Interest Rate Floor 9/15/2025 $0.20B 9/15/2028 N/A 2.50% N/A Receive Fixed Swap 11/1/2025 $0.25B 11/1/2029 N/A N/A 3.30% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2030 N/A N/A 3.55% Receive Fixed Swap 11/1/2025 $0.25B 11/1/2030 N/A N/A 3.82% Interest Rate Floor 12/1/2025 $0.25B 12/1/2029 N/A 2.50% N/A Receive Fixed Swap 2/1/2026 $0.25B 2/1/2031 N/A N/A 3.95% Receive Fixed Swap 2/1/2026 $0.25B 2/1/2031 N/A N/A 4.25% Receive Fixed Swap 10/1/2026 $0.20B 10/1/2031 N/A N/A 3.38% Below are the details of the derivatives entered by the Company as of December 31, 2025. These derivatives hedge the cash flows of variable rate loans that reprice monthly based on one-month term SOFR. Hedging Strategy Update Use of Hedges to Mitigate Negative Impacts of Falling Rates Manual Input - To Confirm with Joel

2525 1Geographic Diversification: primary business location utilized to estimate geographic diversification, which can mean the following locations types were used: collateral location, customer business location, customer home address and customer billing address States/Jurisdictions that individually comprise 1% or less of the Total Loan Portfolio shaded light blue Loan Portfolio Highly diversified portfolio across U.S Loan Portfolio - Geographic Diversification1 (as of 12/31/2025) 31% 9% 6% 6% 4% 4% 3% 2% 2% 2% 3% 2%Canada: Total Loan Portfolio Primary Geographic Region Commercial: Commercial, industrial and other Midwest Leasing Nationwide Franchise Lending Nationwide Commercial real estate Construction and development Midwest Non-construction Midwest Home equity Midwest Residential Real Estate Midwest Premium finance receivables Commercial insurance loans Nationwide and Canada Life insurance loans Nationwide Consumer and other Midwest 2% 1.4% 1.5% 5% 3% Pending 2%

2626 Illinois Market1 (Sorted by 2025 Market Share Data) 2025 2024 2023 JPMorgan Chase 20.1% 20.1% 22.5% BMO Bank 18.3% 18.9% 17.1% Wintrust Financial Corporation 8.6% 8.0% 7.6% Bank of America 7.9% 8.3% 9.2% CIBC Bank USA 7.7% 7.3% 6.8% The Northern Trust Company 6.4% 6.0% 4.9% Fifth Third Bank 4.3% 4.8% 4.8% PNC Bank 3.3% 3.2% 3.1% Old National Bank 2.8% 2.5% 2.5% U.S. Bank 2.5% 2.5% 2.7% Data Source: Federal Deposit Insurance Corporation as of June 30th of each year Deposit Market Share in the Markets We Serve Wisconsin Market3 (Sorted by 2025 Market Share Data) 2025 2024 2023 U.S. Bank 25.2% 24.0% 27.5% BMO Harris Bank 13.1% 14.7% 13.8% Associated Bank 10.0% 9.9% 9.3% JPMorgan Chase 9.6% 9.7% 10.1% Johnson Bank 4.1% 4.0% 3.9% Wintrust Financial Corporation 3.5% 3.4% 2.9% First Business Bank 2.7% 2.4% 2.0% Old National Bank 2.4% 2.3% 2.0% Lake Ridge Bank 2.2% 2.2% 1.9% Wells Fargo 2.0% 2.3% 2.3% Michigan Market2 (Sorted by 2025 Market Share Data) 2025 2024 2023 Huntington 18.3% 19.5% 19.6% Fifth Third Bank 17.2% 19.6% 19.5% Northpointe Bank 14.2% 11.1% 10.4% Wintrust Financial Corporation 9.3% 7.8% 8.0% JPMorgan Chase 9.0% 9.9% 10.2% Mercantile Bank 6.7% 6.3% 6.1% PNC Bank 3.0% 3.1% 3.8% West Michigan Community Bank 2.9% 2.9% 2.7% Independent Bank 2.9% 3.0% 3.2% ChoiceOne Bank 2.7% 2.6% 2.6% *Map Source: S&P Capital IQ 1Illinois market is defined by Cook, DuPage, Kane, Lake, McHenry, Will, and Winnebago counties 2Michigan market is defined by Allegan, Kent, and Ottawa counties 3Wisconsin market is defined by Dane, Kenosha, Milwaukee, Ozaukee, Racine, Rock, Walworth, and Waukesha counties 4Indiana market is defined by Lake county Data Source: Federal Deposit Insurance Corporation as of June 30th of each year Wintrust Midwest Branch Locations 1.43% 1.43% 2025 4

2727 Selected Wintrust Awards Q4 2025 - Wintrust Awards Year-to-Date Wintrust continues to be recognized for its Different Approach to banking. J.D. Power ranked Wintrust Community Banks #1 in Illinois for Retail banking Customer Satisfaction • Scored highest by customers as Most trusted Retail Bank in Illinois for four straight years • Customers also rated Wintrust Community Banks #1 for convenience, value, and account offerings 14 Coalition Greenwich Best Bank Awards for Middle Market • 10th consecutive year of recognition • Wintrust also received the Best Bank - Overall Satisfaction Award in National and Regional markets • These awards demonstrate Wintrust's strong client relationships and commitment to excellence For J.D. Power 2025 award information, visit jdpower.com/awards American Banker for 2025 Top Banks by Reputation • Ranked 6th as Wintrust enters the 2025 ranking for the first time with a score of 82.9, reflecting its growing regional presence Pending

2828 Abbreviation Definition AUA Assets Under Administration BOLI Bank Owned Life Insurance BP Basis Point BV Book Value per Common Share CBD Central Business District CET1 Ratio Common Equity Tier 1 Capital Ratio CRE Commercial Real Estate Diluted EPS Net Income per Common Share - Diluted FDIC Federal Deposit Insurance Corporation GAAP Generally Accepted Accounting Principles HOA Homeowners Association Interest Bearing Cash Total Interest-Bearing Deposits with Banks, Securities Purchased under Resale Agreements and Cash Equivalents MSA Metropolitan Statistical Area MSR Mortgage Servicing Right NCO Net Charge Off NII Net Interest Income NIM Net Interest Margin Non-GAAP For non-GAAP metrics, see the reconciliation in the Appendix NPA Non-Performing Asset NPL Non-Performing Loan PFR Premium Finance Receivables PTPP Pre-Tax, Pre-Provision Income RBA Retirement Benefits Advisors ROA Return on Assets ROE Return on Average Common Equity ROTCE Return on Average Tangible Common Equity RWA Risk-Weighted Asset SOFR Secured Overnight Financing Rate TA Total Assets TBV Tangible Book Value TBVPCS Tangible Book Value Per Common Share Glossary

2929 Three Months Ended Years Ended Reconciliation of non-GAAP Net Interest Margin and Efficiency Ratio ($ in Thousands): December 31, September 30, June 30, March 31, December 31, December 31, December 31, 2025 2025 2025 2025 2024 2025 2024 (A) Interest Income (GAAP) $956,326 $963,834 $920,908 $886,965 $913,501 $ 3,728,033 $ 3,477,597 Taxable-equivalent adjustment: - Loans 2,134 2,154 2,200 2,206 2,352 8,694 9,377 - Liquidity Management Assets 661 675 680 690 716 2,706 2,501 - Other Earning Assets — — — 3 2 3 12 (B) Interest Income (non-GAAP) $959,121 $966,663 $923,788 $889,864 $916,571 $3,739,436 $3,489,487 (C) Interest Expense (GAAP) $372,452 $396,824 $374,214 $360,491 $388,353 $1,503,981 $1,515,062 (D) Net Interest Income (GAAP) (A minus C) $583,874 $567,010 $546,694 $526,474 $525,148 $2,224,052 $1,962,535 (E) Net Interest Income (non-GAAP) (B minus C) $586,669 $569,839 $549,574 $529,373 $528,218 $2,235,455 $1,974,425 Net interest margin (GAAP) 3.52 % 3.48 % 3.52 % 3.54 % 3.49 % 3.52 % 3.51 % Net interest margin, fully taxable-equivalent (non-GAAP) 3.54 % 3.50 % 3.54 % 3.56 % 3.51 % 3.53 % 3.53 % (F) Non-interest income $130,390 $130,827 $124,089 $116,634 $113,451 $501,940 $488,325 (G) Gains (losses) on investment securities, net 1,505 2,972 650 3,196 (2,835) 8,323 (2,602) (H) Non-interest expense 384,453 380,028 381,461 366,090 368,539 1,512,032 1,402,724 Efficiency ratio (H/(D+F-G)) 53.94 % 54.69 % 56.92 % 57.21 % 57.46 % 55.64 % 57.17 % Efficiency ratio (non-GAAP) (H/(E+F-G)) 53.73 % 54.47 % 56.68 % 56.95 % 57.18 % 55.40 % 56.90 % The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Reconciliation of non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $302,223 $296,041 $267,088 $253,055 $253,081 $1,118,407 $947,089 Add: Provision for credit losses 27,588 21,768 22,234 23,963 16,979 $95,553 $101,047 Pre-tax income, excluding provision for credit losses (non-GAAP) $329,811 $317,809 $289,322 $277,018 $270,060 $1,213,960 $1,048,136 Non-GAAP Reconciliation

3030 Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $ 302,223 $ 296,041 $ 267,088 $ 253,055 $ 253,081 $ 1,118,407 $ 947,089 Add: Provision for credit losses 27,588 21,768 22,234 23,963 16,979 95,553 101,047 Pre-tax income, excluding provision for credit losses (non-GAAP) $ 329,811 $ 317,809 $ 289,322 $ 277,018 $ 270,060 $ 1,213,960 $ 1,048,136 Three Months Ended Years Ended Reconciliation of non-GAAP Return on Average Tangible Common Equity ($ in Thousands): December 31, September 30, June 30, March 31, December 31, December 31, December 31, 2025 2025 2025 2025 2024 2025 2024 (N) Net income applicable to common shares $214,657 $188,913 $188,536 $182,048 $178,371 $774,154 $667,081 Add: Intangible asset amortization 4,999 5,196 5,580 5,618 5,773 21,393 12,095 Less: Tax effect of intangible asset amortization (1,310) (1,403) (1,495) (1,421) (1,547) (5,626) (3,217) After-tax intangible asset amortization $ 3,689 $ 3,793 $ 4,085 $ 4,197 $ 4,226 $ 15,767 $ 8,878 (O) Tangible net income applicable to common shares (non-GAAP) $218,346 $192,706 $192,621 $186,245 $182,597 789,921 675,959 Total average shareholders’ equity $7,166,608 $6,955,543 $6,862,040 $6,460,941 $6,418,403 $6,863,474 $5,826,940 Less: Average preferred stock (425,000) (483,288) (599,313) (412,500) (412,500) (480,068) $(412,500) (P) Total average common shareholders’ equity $ 6,741,608 $ 6,472,255 $ 6,262,727 $ 6,048,441 $ 6,005,903 $ 6,383,406 $ 5,414,440 Less: Average intangible assets (901,022) (906,032) (910,924) (916,069) (921,438) (908,464) $ (778,283) (Q) Total average tangible common shareholders’ equity (non-GAAP) $ 5,840,586 $ 5,566,223 $ 5,351,803 $ 5,132,372 $ 5,084,465 $ 5,474,942 $ 4,636,157 Return on average common equity, annualized (N/P) 12.63 % 11.58 % 12.07 % 12.21 % 11.82 % 12.13 % 12.32 % Return on average tangible common equity, annualized (non-GAAP) (O/Q) 14.83 13.74 14.44 14.72 14.29 14.43 14.58 The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Non-GAAP Reconciliation

3131 Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income ($ in Thousands): Income before taxes $ 302,223 $ 296,041 $ 267,088 $ 253,055 $ 253,081 $ 1,118,407 $ 947,089 Add: Provision for credit losses 27,588 21,768 22,234 23,963 16,979 95,553 101,047 Pre-tax income, excluding provision for credit losses (non-GAAP) $ 329,811 $ 317,809 $ 289,322 $ 277,018 $ 270,060 $ 1,213,960 $ 1,048,136 Three Months Ended Years Ended Reconciliation of Non-GAAP Net Income per Common Share: ($ in Thousands): December 31, September 30, June 30, March 31, December 31, December 31, December 31, 2025 2025 2025 2025 2024 2025 2024 Net income $223,024 $216,254 $195,527 $189,039 $185,362 $823,844 $695,045 Preferred stock dividends 8,367 13,295 6,991 6,991 6,991 35,644 27,964 Preferred stock redemption — 14,046 — — — 14,046 — (R) Net income applicable to common shares $214,657 $188,913 $188,536 $182,048 $178,371 $774,154 $667,081 (S) Weighted average common shares outstanding 66,970 66,952 66,931 66,726 66,491 66,896 63,685 Dilutive potential common shares 1,143 1,028 888 923 1,233 998 $ 1,016 (T) Average common shares and dilutive common shares 68,113 67,980 67,819 67,649 67,724 67,894 64,701 Net income per common share - Basic (R/S) $3.21 $2.82 $2.82 $2.73 $2.68 $11.57 $10.47 Net income per common share - Diluted (R/T) $3.15 $2.78 $2.78 $2.69 $2.63 $11.40 $10.31 Preferred stock series F excess one-time extended first dividend — $4,927 — — — 4,927 — Preferred stock redemption — 14,046 — — — 14,046 — (U) Total non-recurring preferred stock offering impact (non-GAAP) — $18,973 — — — 18,973 — Net income per common share - Basic (non-GAAP) (R+U)/S $3.21 $3.11 $2.82 $2.73 $2.68 $11.86 $10.47 Net income per common share - Diluted (non-GAAP) (R+U)/T $3.15 $3.06 $2.78 $2.69 $2.63 $11.68 $10.31 The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently. Non-GAAP Reconciliation

3232 Three Months Ended Reconciliation of non-GAAP Tangible Common Equity ($'s and Shares in Thousands): December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Total shareholders’ equity (GAAP) $7,258,715 $7,045,757 $7,225,696 $6,600,537 $6,344,297 Less: Non-convertible preferred stock (GAAP) (425,000) (425,000) (837,500) (412,500) (412,500) Less: Acquisition-related intangible assets (GAAP) (895,959) (902,936) (908,639) (913,004) (918,632) (I) Total tangible common shareholders’ equity (non-GAAP) $5,937,756 $5,717,821 $5,479,557 $5,275,033 $5,013,165 (J) Total assets (GAAP) 71,142,046 69,629,638 68,983,318 65,870,066 64,879,668 Less: Acquisition-related intangible assets (GAAP) (895,959) (902,936) (908,639) (913,004) (918,632) (K) Total tangible assets (non-GAAP) $70,246,087 $68,726,702 $68,074,679 $64,957,062 $63,961,036 Common equity to assets ratio (GAAP) (L/J) 9.6 % 9.5 % 9.3 % 9.4 % 9.1 % Tangible common equity ratio (non-GAAP) (I/K) 8.5 % 8.3 % 8.0 % 8.1 % 7.8 % Reconciliation of non-GAAP Tangible Book Value per Common Share ($'s and Shares in Thousands): Total shareholders’ equity $7,258,715 $7,045,757 $7,225,696 $6,600,537 $6,344,297 Less: Non-convertible preferred stock (GAAP) (425,000) (425,000) (837,500) (412,500) (412,500) (L) Total common equity $6,833,715 $6,620,757 $6,388,196 $6,188,037 $5,931,797 (M) Actual common shares outstanding 66,975 66,961 66,938 66,919 66,495 Book value per common share (L/M) $102.03 $98.87 $95.43 $92.47 $89.21 Tangible book value per common share (non-GAAP) (I/M) $88.66 $85.39 $81.86 $78.83 $75.39 Reconciliation of Non-GAAP Return on Average Tangible Common Equity: ($'s and Shares in Thousands): December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 (N) Net income applicable to common shares $ 173,207 $ 137,826 $ 1,492 $ 1,579 $ 120,400 Add: Acquisition-related intangible asset amortization 1,235 1,436 $ (425) $ (445) 1,609 Less: Tax effect of acquisition-related intangible asset amortization (321) (370) 1067000 1,134 (430) After-tax Acquisition-related intangible asset amortization $ 914 $ 1,066 137,037 88,656 $ 1,179 (O) Tangible net income applicable to common shares (non-GAAP) $ 174,121 $ 138,892 $ 4,795,387 $ 4,526,110 $ 121,579 Total average shareholders’ equity $ 4,895,271 $ 4,710,856 $ (412,500) $ (412,500) $ 4,500,460 Less: Average preferred stock (412,500) (412,500) 4,382,887 4,113,610 (412,500) (P) Total average common shareholders’ equity $ 4,482,771 $ 4,298,356 $ (678,953) $ (681,091) $ 4,087,960 Less: Average acquisition-related intangible assets (675,247) (676,371) 3,703,934 3,432,519 (682,603) (Q) Total average tangible common shareholders’ equity (non-GAAP) $ 3,807,524 $ 3,621,985 $0.12 $0.09 $ 3,405,357 Return on average common equity, annualized (N/P) 15.67 % 12.72 % 11.94 % Return on average tangible common equity, annualized (non-GAAP) (O/Q) 0.1854636737388 63 Three Months Ended Reconciliation of non-GAAP Return on Average Tangible Common Equity ($ in Thousands): December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 (N) Net income applicable to common shares $ 214,657 $ 188,913 $ 188,536 $ 182,048 $ 178,371 Add: Intangible asset amortization $ 4,999 $ 5,196 $ 5,580 $ 5,618 5773000 Less: Tax effect of intangible asset amortization $ (1,310) $ (1,403) $ (1,495) $ (1,421) (1,547) After-tax intangible asset amortization $ 3,689 $ 3,793 $ 4,085 $ 4,197 4,226 (O) Tangible net income applicable to common shares (non-GAAP) $ 218,346 $ 192,706 $ 192,621 $ 186,245 182,597 Total average shareholders’ equity $ 7,166,608 $ 6,955,543 $ 6,862,040 $ 6,460,941 $ 6,418,403 Less: Average preferred stock $ (425,000) $ (483,288) $ (599,313) $ (412,500) $ (412,500) (P) Total average common shareholders’ equity $ 6,741,608 $ 6,472,255 $ 6,262,727 $ 6,048,441 $ 6,005,903 Less: Average intangible assets $ (901,022) $ (906,032) $ (910,924) $ (916,069) $ (921,438) (Q) Total average tangible common shareholders’ equity (non-GAAP) $5,840,586 $5,566,223 $5,351,803 $5,132,372 $5,084,465 Return on average common equity, annualized (N/P) 12.63% 11.58% 12.07% 12.21% 11.82% Return on average tangible common equity, annualized (non-GAAP) (O/Q) 14.83 13.74 14.44 14.72 14.29 Non-GAAP Reconciliation The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non- GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company's interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.