Wintrust Financial: An Overview
Wintrust Financial Corporation (Wintrust) is a financial services holding company based in Lake Forest, Illinois, with assets above $17 billion. The Company engages in the business of providing traditional community banking services, wealth management services, commercial insurance premium financing, mortgage origination, short-term accounts receivable financing, and certain administrative services, such as data processing of payrolls, billing and treasury management services. The Company provides community-oriented, personal and commercial banking services to customers located in the greater Chicago, Illinois and southern Wisconsin metropolitan areas (see map) through its 15 wholly owned banking subsidiaries.
The Company controls nine Illinois-chartered banks:
One Wisconsin-chartered bank:
And five nationally-chartered banks:
The Company provides a range of wealth management services through three separate subsidiaries, operating under one name, Wintrust Wealth Management. Since, 1931, Chicago-based Wayne Hummer Investments has been providing a full-range of investment products and services tailored to meet the specific needs of individual investors throughout the country. Great Lakes Advisors, a registered investment adviser, provides portfolio management for individuals, as well as institutional investors. The Chicago Trust Company, N.A. provides trust and investment products and services to individuals and businesses in Wintrust community bank markets.
The Company also offers specialty lending through indirect non-bank subsidiaries and divisions of its banks. First Insurance Funding Corp. (FIRST), and its subsidiary Broadway Premium Funding Corp. (Broadway), is in the business of originating financing for the payment of commercial insurance premiums on a national basis. Tricom, Inc. provides short-term accounts receivable financing, value-added out-sourced administrative services to clients in the temporary staffing industry throughout the United States and payroll services to small businesses.
Wintrust Community Banking
Each Wintrust Community Bank was founded as a de novo (from scratch) banking organization. The organizational efforts began in 1991 when a group of experienced bankers and local business people identified an unfilled niche in the Chicago metropolitan area retail banking market. As large banks acquired smaller ones and personal service was subjected to consolidation strategies, the opportunity became clear in the suburbs for locally controlled and managed, highly personal service-oriented banks. Since 1991, nine banks and over 40 facilities have been opened on a de novo basis. In 2003, Wintrust began acquiring de novo banking organizations that fit the mold of its current portfolio of bank groups, while continuing to expand via a de novo basis.
Wintrust Community Banks are controlled by a strong, participatory, local board and are managed by a team of experienced bankers who are respected in their community and average more than 20 years of experience per person in the banking business. These ties and their deep knowledge of banking and the neighborhood is a key to each of our bank's success.
All senior management are also shareholders in Wintrust. The banks provide banking and financial services to individuals, small businesses, local governmental units and institutional clients residing primarily in the banks' local service areas. They also provide commercial & industrial loans and treasury management services to their networks, whether inside or outside a bank’s local service area.
Overall, Wintrust Community banks offer home equity, home mortgage, real estate and commercial loans, safe deposit facilities, trust services, online banking and bill pay, and other services specially tailored to meet the needs of customers in their market areas.
Wintrust Specialty and Niche Lending
First Insurance Funding Corp. is the Company’s significant specialized lending niche. FIRST makes loans to businesses to finance the insurance premiums they pay on their commercial insurance policies. The loans are originated by FIRST working through independent medium and large insurance agents and brokers located throughout the United States. In 2007, FIRST acquired 100% ownership interests of Broadway to expand its offering to small and medium insurance agents and brokers. The insurance premiums financed are primarily for commercial customers’ purchases of liability, property and casualty and other commercial insurance.
The Company engages in several other specialty lending areas through divisions of the Banks. Hinsdale Bank operates an indirect auto lending program, which originates new and used automobile loans that are purchased by all of the Banks. Other specialty lending conducted through the Banks include Barrington Bank’s Community Advantage program, which provides lending, deposit and cash management services to condominium, homeowner and community associations, Hinsdale Bank’s mortgage warehouse lending program, which provides loan and deposit services to mortgage brokerage companies located predominantly in the Chicago metropolitan area, and Crystal Lake Bank’s North American Aviation Financing division, which provides small aircraft lending. Last but not least, Tricom, Inc., a subsidiary of Hinsdale Bank, provides loans to the temporary staffing industry.
Wintrust’s Mortgage Origination
Wintrust Mortgage, a division of Barrington Bank, engages primarily in the origination and purchase of residential mortgages for sale into the secondary market. Loans are made via principal origination offices and also originated in other states through wholesale and correspondent offices. At most Wintrust Community Banks, home mortgages are originated through Wintrust Mortgage. The majority of Wintrust Mortgage's operations are conducted out of its offices maintained in Rosemont, Illinois. Wintrust Mortgage has been in the mortgage lending business since 1978.
Wintrust’s Wealth Management Activities
The Company offers a range of wealth management services through three separate subsidiaries, including trust and investment services, asset management and securities brokerage services, marketed primarily under the Wintrust Wealth Management name. Wintrust Wealth Management provides the products, technology and experience of larger national firms with the highly personal service and attention of a boutique firm. Wintrust Wealth Management has over 160 professionals employed at over 20 locations throughout the greater Chicagoland area and parts of Wisconsin, as well as over 20 correspondent firm offices in the Midwest. Wayne Hummer Investments, LLC, founded in 1931, The Chicago Trust Company., and Great Lakes Advisors comprise the wealth management component of Wintrust Financial Corp.
Executive Offices of Wintrust Financial
Wintrust Financial's executive offices are located at 9700 Higgins Rd, Rosemont, Illinois 60018. Our telephone number is 847-939-9000, our fax number is (847) 292-1413, and our e-mail address is email@example.com