Segment Information

12 Months Ended

Dec. 31, 2025

The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.

The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics and each segment has a different regulatory environment. While the Company’s management monitors each of the sixteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures and economic characteristics.

For purposes of internal segment profitability, management allocates certain intersegment and parent company balances. Management allocates a portion of revenues to the specialty finance segment related to loans and leases originated by the specialty finance segment and sold or assigned to the community banking segment. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note (10) “Deposits” for more information on these deposits. Finally, expenses incurred at the Wintrust parent company are allocated to each segment based on each segment’s risk-weighted assets.

The segment financial information provided in the following tables has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are substantially similar to those described in Note (1) “Summary of Significant Accounting Policies”.

Our Chief Executive Officer is our chief operating decision maker (“CODM”). The CODM uses income before taxes to review segment performance and allocate resources for each reportable segment. Financial information regarding each significant segment expense outlined below is regularly provided (at least monthly) to the CODM. For community banking and specialty finance segments, ‘Interest expense’ is a significant segment expense. Additionally, for each of the three reportable segments, ‘Salaries’, ‘Commissions and incentive compensation’ and ‘Benefits’ are significant segment expenses.

The following is a summary of certain operating information for reportable segments:


(In thousands)	Community Banking		Specialty Finance		Wealth Management		Total Operating Segments		Intersegment Eliminations		Consolidated
2025
Interest income	$	3,223,220	$	420,528	$	38,147	$	3,681,895	$	46,138	$	3,728,033
Interest expense	1,462,186		41,131		664		1,503,981		—		1,503,981
Net interest income	1,761,034		379,397		37,483		2,177,914		46,138		2,224,052
Provision for credit losses	89,050		6,503		—		95,553		—		95,553
Non-interest income	310,981		129,713		154,387		595,081		(93,141)		501,940
Non-interest expense:
Salaries	390,817		64,829		38,966		494,612		1,958		496,570
Commissions and incentive compensation	133,733		38,911		49,124		221,768		—		221,768
Benefits	122,421		22,167		10,366		154,954		—		154,954
Other segment expenses (1)	553,208		96,812		37,681		687,701		(48,961)		638,740
Total non-interest expense	1,200,179		222,719		136,137		1,559,035		(47,003)		1,512,032
Income before taxes	782,786		279,888		55,733		1,118,407		—		1,118,407
Income tax expense	206,119		74,589		13,855		294,563		—		294,563
Net income	$	576,667	$	205,299	$	41,878	$	823,844	$	—	$	823,844
Total assets at end of year	$	57,333,741	$	12,502,367	$	1,305,938	$	71,142,046	$	—	$	71,142,046

2024
Interest income	$	3,001,500	$	405,317	$	30,765	$	3,437,582	$	40,015	$	3,477,597
Interest expense	1,465,237		49,030		795		1,515,062		—		1,515,062
Net interest income	1,536,263		356,287		29,970		1,922,520		40,015		1,962,535
Provision for credit losses	88,345		12,702		—		101,047		—		101,047
Non-interest income	279,845		119,339		168,134		567,318		(78,993)		488,325
Non-interest expense:
Salaries	364,144		61,070		38,989		464,203		1,769		465,972
Commissions and incentive compensation	130,516		36,130		48,873		215,519		—		215,519
Benefits	106,994		18,686		9,937		135,617		—		135,617
Other segment expenses (1)	500,327		91,479		34,557		626,363		(40,747)		585,616
Total non-interest expense	1,101,981		207,365		132,356		1,441,702		(38,978)		1,402,724
Income before taxes	625,782		255,559		65,748		947,089		—		947,089
Income tax expense	167,072		69,214		15,758		252,044		—		252,044
Net income	$	458,710	$	186,345	$	49,990	$	695,045	$	—	$	695,045
Total assets at end of year	$	52,500,643	$	11,234,012	$	1,145,013	$	64,879,668	$	—	$	64,879,668

2023
Interest income	$	2,462,103	$	362,035	$	33,867	$	2,858,005	$	35,109	$	2,893,114
Interest expense	1,021,128		32,991		1,131		1,055,250		—		1,055,250
Net interest income	1,440,975		329,044		32,736		1,802,755		35,109		1,837,864
Provision for credit losses	104,895		9,495		—		114,390		—		114,390
Non-interest income	263,023		105,992		136,561		505,576		(71,470)		434,106
Non-interest expense:
Salaries	340,993		57,024		39,129		437,146		1,666		438,812
Commissions and incentive compensation	110,986		30,395		40,720		182,101		—		182,101
Benefits	100,190		17,070		9,840		127,100		—		127,100
Other segment expenses (1)	484,263		82,024		36,226		602,513		(38,027)		564,486
Total non-interest expense	1,036,432		186,513		125,915		1,348,860		(36,361)		1,312,499
Income before taxes	562,671		239,028		43,382		845,081		—		845,081
Income tax expense	148,612		63,484		10,359		222,455		—		222,455
Net income	$	414,059	$	175,544	$	33,023	$	622,626	$	—	$	622,626
Total assets at end of year	$	44,355,786	$	10,664,887	$	1,239,261	$	56,259,934	$	—	$	56,259,934

(1)Other segment items include non-interest expense categories such as ‘Software & Equipment’, ‘Data processing’, ‘Advertising and Marketing’, ‘FDIC Insurance’, and ‘Occupancy’. See “Non-Interest Expense” under Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 7 of this Annual Report on Form 10-K for further discussion on non-interest expense.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

WINTRUST FINANCIAL CORP 10-K