![]() | |
Company type | Public |
---|---|
Industry | Financial services |
Founded | 1991 Lake Forest, Illinois |
Founder | Ed Wehmer |
Headquarters | Rosemont, Illinois |
Key people | Tim Crane, CEO & President; David Dykstra, Vice Chairman & COO |
Products | Consumer Banking, Corporate Banking, Insurance, Investment Banking, Mortgage loans, Private Banking, Private Equity, Wealth Management, Credit Cards, Financial Analysis |
Revenue | ![]() |
![]() | |
Total assets | ![]() |
Number of employees | 5,057 FTE (2019) |
Rating | BBB+ |
Website | wintrust |
Wintrust is a financial holding company in the United States that operates 15 chartered community banks in northern Illinois and southern Wisconsin. [1] Wintrust is a relatively medium-sized banking institution in the United States and it trades on the Nasdaq Global Select Market with stock symbol WTFC. Wintrust is the second largest banking company in Chicago. [2]
The company provides traditional retail and commercial banking services, as well as wealth management services, commercial and life insurance premium financing, and certain treasury management services such as data processing of payrolls and billings. [3] In 2015 Wintrust began to expand into equipment financing, both directly through its bank branches and indirectly through dealers. [4]
Wintrust was founded by Ed Wehmer. Wintrust was among the recipients of capital from the United States government through the U.S. Treasury's Troubled Asset Relief Program. [2] [5] The bank used the 2008 financial crisis to acquire small troubled banks in the Chicago area, backed by its pre-crisis capital supplemented by TARP funds. This positioned it to become one of the area's largest retail banks by eliminating costs and deepening its geographical footprint in the area. [6] Wintrust Financial continues to expand within its footprint area. [6] [7] [8] [9]
In 2018, Wintrust completed its acquisition of Veterans First Mortgage, a Utah-based corporation with approximately 400 employees. [10]
In May 2019, Wintrust acquired Rush-Oak Corporation, the parent company of Oak Bank, an Illinois state-chartered bank which had approximately $201 million in assets. [11] In October 2019, Wintrust acquired STC Bancshares Corp, the parent company of STC Capital Bank, an Illinois state-chartered bank with approximately $275 million in assets. [12]
In 2021, the Hinsdale Bank, a Wintrust Bank, opened the Oak Park Bank in what had been a restaurant space in a historic building. [13] [14] The Oak Park Bank built a second location, new facility, in the village. [15]
In 2022, Wintrust announced a deal to acquire the U.S. asset management arm of Rothschild & Co, which held around $8 billion in assets under management at the time. [16]
Unlike most major U.S. banks, Wintrust's business strategy is to retain the identities of the community banks it acquires rather than rebranding them. However, each community bank uses the tagline, "A Wintrust Community Bank." [17] Wintrust's 15 chartered bank subsidiaries and their respective community banks are: [18]
Its major non-bank subsidiaries are:
Wintrust is the official banking partner of the Chicago Cubs, which features sponsorship of the left-field Daktronics ProStar video board at Wrigley Field; [35] [36] the "W" in "Wintrust" flashes after every Cubs win, and is lit after wins, as part of the traditional win flag.
Wintrust has also partnered with the Chicago White Sox for the naming rights to club seats at Guaranteed Rate Field. [35]
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding company, JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank and the Manhattan Company in 1955. The bank merged with Chemical Bank New York in 1996 and later merged with Bank One Corporation in 2004 and in 2008 acquired the deposits and most assets of Washington Mutual.
Bank One Corporation was an American bank founded in 1968 and at its peak the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004, with its CEO Jamie Dimon taking the lead at the combined company. The company had its headquarters in the Bank One Plaza in the Chicago Loop in Chicago, Illinois, now the headquarters of Chase's retail banking division.
Marine Midland Bank was an American bank formerly headquartered in Buffalo, New York, with several hundred branches throughout the state of New York. In 1998, branches extended to Pennsylvania. It was acquired by HSBC in 1980, and changed its name to HSBC Bank USA in 1999. As a result of several transactions since the turn of the millennium, much of what was once Marine Midland is now part of KeyBank with the exception of Downstate New York and Pennsylvania, that is now part of Citizens Bank. Branches in Seattle are part of Cathay Bank.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued. Today, what was once NBD is owned by JPMorgan Chase & Co.
BMO Bank, N.A. is an American national bank that is headquartered in Chicago, Illinois. It is the U.S. subsidiary of the Toronto-based multinational investment bank and financial services company Bank of Montreal, which owns it through the holding company BMO Financial Corporation. In September 2023, it was the 8th largest bank in the United States by total assets.
LaSalle Bank Corporation was the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A.. With US$116 billion in assets, it was headquartered at 135 South LaSalle Street in Chicago, Illinois. LaSalle Bank Corporation was formerly an indirect subsidiary of Netherlands-based ABN AMRO Bank N.V., one of the world's largest banks, with total assets of EUR 986 billion, more than 3,000 locations in over 60 countries and a staff of more than 105,000. Bank of America acquired LaSalle Bank Corp. effective October 1, 2007, and officially adopted the Bank of America name on May 5, 2008.
First Busey Bank is a financial institution headquartered in Champaign, Illinois, and operates in Illinois, Indiana, and southwest Florida. It is owned by First Busey Holding, a financial holding company.
WSFS Financial Corporation is a financial services company. Its primary subsidiary, WSFS Bank, a federal savings bank, is the largest and longest-standing locally managed bank and trust company headquartered in Delaware and the Greater Delaware Valley. WSFS operates from 116 offices, 88 of which are banking offices, located in Pennsylvania (59), Delaware (40), New Jersey (14), Florida (1), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management.
Associated Banc-Corp is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking, and specialized financial services. Headquartered in Green Bay, Wisconsin, Associated is a Midwest bank with from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas.
UMB Financial Corporation is an American financial services holding company founded in 1913 as City Center Bank and based in Kansas City, Missouri. It offers a number of financial services from checking and savings accounts, credit services including home mortgages, auto loans, business loans and credit cards, to investing and wealth management, all are offered to individuals, companies and offers additional customization options for private wealth management.
FBOP Corporation was a financial services company based in Oak Park, Illinois, United States. As of mid-2009, it had $18.5 billion in assets and was the 46th largest bank holding company in the United States. On October 30, 2009, FBOP's banking subsidiaries were closed by their chartering agencies and the Federal Deposit Insurance Corporation was appointed as their receiver. The company had over 4064 employees.
Mercantile Bancorporation was the largest bank holding company in Missouri when it was acquired by Firstar Corporation in 1999.
First Midwest Bancorp, Inc was headquartered in Chicago, Illinois, just east of O'Hare Airport. The company's predecessor traces back to Joliet, Illinois. From there the company has grown to serve many Chicago suburbs including northwest Indiana, downstate Illinois, southeast Wisconsin and the Quad Cities area including Iowa. First Midwest Bank is one of the largest banking institutions in the United States
CertusBank, N.A. was a full-service, nationally chartered bank, with a presence in twelve U.S. states. Headquartered in Greenville, South Carolina, with secondary corporate offices in Atlanta, Georgia and Charlotte, North Carolina, at its peak the bank operated more than 30 retail branches in The Carolinas, Florida, and Georgia. CertusBank, N.A. was a subsidiary of CertusHoldings, Inc. headquartered in Atlanta, Georgia and was created by former executives from Bank of America and Wachovia. The bank elected to go into liquidation in 2015. Creditors sued, and accepted a final settlement in 2017.
Elgin State Bank was a bank headquartered in Elgin, Illinois. In 2011, the bank was acquired by Wintrust Financial for $13.75 million in cash and stock and its branches were re-branded as St. Charles Bank & Trust Company.
Urban Partnership Bank was a Federal Deposit Insurance Corporation, full-service community development bank in the United States with $1.4 billion in assets. It was established on August 20, 2010 when it acquired the deposits and some of the assets of ShoreBank from the FDIC. It was headquartered in Chicago, Illinois. After chronic losses, it was acquired on Jan 30, 2019 by Providence Bank & Trust.
MidFirst Bank is a privately held financial institution based in Oklahoma City, Oklahoma. It is the largest privately owned bank in the United States, with $36.7 billion in assets. MidFirst Bank has locations in Arizona (Phoenix), Southern California, Colorado, Nevada, Oklahoma, Texas and Utah.
Inland Bank & Trust was an Oak Brook, Illinois finance company controlled by Inland Real Estate Group until mid-2023. With all of its ten branches located in Chicago's western suburbs, the bank invested approximately one-third of its assets in commercial real estate.
Merchants National Corporation (MNC) was an Indianapolis-based statewide bank holding company that was one of the largest Indiana-based financial institutions at the time it was acquired by Ohio-based National City Corporation in 1992. Its primary subsidiary was the Indianapolis-based Merchants National Bank and Trust Company, which was founded in 1865.
Gerald Francis Fitzgerald was an American banker and father of former U.S. Senator Peter Fitzgerald. Gerald Fitzgerald was the founder and chairman of Suburban Bancorp, Inc., a publicly traded multibank holding company with 13 banks and 30 locations when Bank of Montreal acquired it by merger in 1994. He brought the first ATM to Illinois in 1968 and established one of the first multibank holding companies in Illinois in 1982.