The following is a summary of the Wintrust Financial Corporation (WTFC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Wintrust Financial reported Q1 net income of over $187 million, with both loan and deposit growth of slightly over $1 billion.

• Net interest income was $464 million, slightly down from the fourth quarter.

• Provision for credit losses for the quarter was down to $21.7 million from $42.9 million in the prior quarter.

• There are regulatory capital ratios that improved slightly despite strong growth, and tangible book value reached record levels.

Business Progress:

• The company expects an even stronger loan growth for Q2 2024, primarily driven by the commercial premium finance portfolio and core C&I pipelines.

• Wintrust announced the acquisition of Macatawa Bank, which has over $1.1 billion in excess deposits.

• The bank's strategy targets growth in the Midwest and leveraging the recent acquisition for their long-term growth strategy.

• Despite eyeing further acquisitions, Wintrust is currently focused on swift integration of Macatawa Bank.

• Wintrust Financial Corporation is considering its hedging strategy in response to the current uncertain rate environment.

More details: Wintrust Financial IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.