Wintrust Q2 net income jumps 20% YoY to $233.7M
Wintrust Financial Corporation reported record Q2 2026 net income of $233.7 million, a 20% YoY increase, fueled by robust organic deposit and loan growth. Net interest income rose to $597.4 million, while net interest margin stood at 3.50%. The company maintained stable credit quality with non-performing loans at 0.32% of total loans. Analysts from Truist, Barclays, and others raised price targets following the results.
*this image is generated using AI for illustrative purposes only.
Wintrust Financial Corporation reported record quarterly net income of $233.7 million, or $3.30 per diluted common share, for the second quarter of 2026, representing a 20% year-over-year increase. Adjusted EPS of $3.30 beat the consensus estimate of $3.14, while sales of $738.635 million exceeded the $736.732 million estimate. This marks the sixth consecutive quarter of record net income for the company, driven by robust organic deposit growth and diversified loan expansion. For the first six months of 2026, net income reached $461.1 million, or $6.52 per diluted common share, compared to $384.6 million, or $5.47 per diluted share, in the prior year period.
Key Financial Highlights
The following table summarizes Wintrust Financial's key operating metrics for the second quarter of 2026 compared to prior periods:
| Metric: | Q2 2026 | Q1 2026 | Q2 2025 |
|---|---|---|---|
| Net Income: | $233,693 thousand | $227,388 thousand | $195,527 thousand |
| Net Revenue: | $738,635 thousand | $713,166 thousand | $670,783 thousand |
| Net Interest Income: | $597,366 thousand | $579,024 thousand | $546,694 thousand |
| Net Interest Margin: | 3.50% | 3.54% | 3.52% |
| Diluted EPS: | $3.30 | $3.22 | $2.78 |
| Return on Avg. Assets: | 1.30% | 1.32% | 1.19% |
| Return on Avg. Common Equity: | 12.82% | 12.76% | 12.07% |
| Total Assets: | $74,668,135 thousand | $72,157,433 thousand | $68,983,318 thousand |
| Total Loans: | $55,654,947 thousand | $54,071,292 thousand | $51,041,679 thousand |
| Total Deposits: | $61,141,275 thousand | $58,914,382 thousand | $55,816,811 thousand |
Timothy S. Crane, President and Chief Executive Officer, stated: "We are pleased to deliver record results for the first six months of the year. Second quarter 2026 represents the sixth consecutive quarter of record net income for the Company. Strong diversified loan growth funded by robust organic deposit growth highlights the underlying strength of our business model."
Balance Sheet and Loan Growth
Total assets increased $2.5 billion in the second quarter of 2026 compared to the first quarter of 2026, driven by a $1.6 billion increase in total loans — growth of 12% annualized. Total deposits increased by $2.2 billion, or 15% annualized, reflecting robust organic deposit growth across a diverse customer base and product offerings. Non-interest bearing deposit balances represented 19% of total deposits, and the company's loans-to-deposits ratio ended the quarter at 91.0%. Total shareholders' equity stood at $7,525,116 thousand at period end.
Net Interest Income and Margin
Net interest income totaled $597.4 million in the second quarter of 2026, compared to $579.0 million in the first quarter of 2026, driven by robust average earning asset growth of $2.1 billion. Net interest margin was 3.50% (3.52% on a fully taxable-equivalent basis) during the second quarter of 2026, down four basis points compared to the first quarter of 2026, primarily due to lower loan yields. Funding cost on interest-bearing deposits remained unchanged compared to the first quarter of 2026.
Asset Quality
Credit quality remained stable during the quarter. The allowance for credit losses totaled $481.2 million as of June 30, 2026, an increase from $471.6 million as of March 31, 2026. The provision for credit losses totaled $23.1 million in the second quarter of 2026, compared to $29.6 million in the first quarter of 2026. Net charge-offs totaled $13.4 million, or 10 basis points of average total loans on an annualized basis, down from $18.4 million, or 14 basis points, in the first quarter of 2026. Non-performing loans totaled $179.3 million and comprised 0.32% of total loans at June 30, 2026, compared to $182.7 million and 0.34% at March 31, 2026.
Non-Interest Income and Expense
Non-interest income totaled $141.3 million in the second quarter of 2026, compared to $134.1 million in the first quarter of 2026. Mortgage banking revenue totaled $27.4 million, up from $23.4 million in the prior quarter, primarily attributed to higher operational revenue. Wealth management revenue totaled $39.9 million, a decrease compared to the first quarter of 2026, primarily driven by performance-based revenues on certain customer relationships that positively impacted first quarter results. Wealth management subsidiaries had approximately $49.7 billion of assets under administration at June 30, 2026.
Non-interest expense totaled $397.5 million in the second quarter of 2026, increasing $14.9 million compared to $382.6 million in the first quarter of 2026. The increase was primarily driven by higher commissions and incentives expense and a $7.2 million increase in advertising and marketing expense related to summer sports and community sponsorships. FDIC insurance totaled $6.6 million in the second quarter, a $4.4 million decrease from the first quarter, primarily the result of a $5.2 million reversal of an FDIC special assessment originally accrued in the first quarter of 2024.
Analyst Price Targets
Ahead of the earnings announcement, several analysts revised their price targets for Wintrust Financial. The following table summarizes recent analyst ratings:
| Analyst: | Firm | Rating | Price Target Change | Accuracy Rate |
|---|---|---|---|---|
| Brandon King: | Truist Securities | Buy | $170 to $183 | 78% |
| Jared Shaw: | Barclays | Overweight | $190 to $192 | 70% |
| Jeff Rulis: | DA Davidson | Buy | $185 | 68% |
| Janet Lee: | TD Cowen | Buy | $173 to $176 | 75% |
| Benjamin Gerlinger: | Citigroup | Buy | $178 to $182 | 60% |
Truist Securities analyst Brandon King maintained a Buy rating and increased the price target from $170 to $183 on July 10, 2026. Barclays analyst Jared Shaw maintained an Overweight rating and boosted the price target from $190 to $192 on July 7, 2026. DA Davidson analyst Jeff Rulis maintained a Buy rating with a price target of $185 on June 30, 2026. TD Cowen analyst Janet Lee maintained a Buy rating and boosted the price target from $173 to $176 on April 23, 2026. Citigroup analyst Benjamin Gerlinger maintained a Buy rating and raised the price target from $178 to $182 on April 22, 2026.
On July 6, 2026, Wintrust Financial agreed to acquire Northern Trust's guardianship services operations. The market price per common share stood at $160.72 at June 30, 2026, with a book value per common share of $105.26 and a tangible book value per common share of $92.13.
How will the recent acquisition of Northern Trust's guardianship services operations impact Wintrust's fee-based revenue streams in the upcoming quarters?
Can Wintrust sustain its 12% annualized loan growth rate given the four basis point compression in net interest margin during Q2?
What specific strategies will management employ to manage funding costs if interest-bearing deposit expenses begin to rise in the second half of 2026?
16
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
