Wintrust Financial Corporation Announces Semi-Annual Dividend
January 29 2009 - 4:06PM
PR Newswire (US)
LAKE FOREST, Ill., Jan. 29 /PRNewswire-FirstCall/ -- Wintrust
Financial Corporation ("Wintrust" or the "Company") (NASDAQ:WTFC)
today announced that the Company's Board of Directors approved a
semi-annual cash dividend of $0.18 per share of outstanding common
stock. The dividend is payable on February 26, 2009 to shareholders
of record as of February 12, 2009. This cash dividend, on an
annualized basis, is the same as the per share common stock
dividends paid during 2008. WINTRUST SUBSIDIARIES AND LOCATIONS
Wintrust is a financial holding company whose common stock is
traded on the Nasdaq Stock Market(R) (NASDAQ:WTFC). Its 15
community bank subsidiaries are: Lake Forest Bank & Trust
Company, Hinsdale Bank & Trust Company, North Shore Community
Bank & Trust Company in Wilmette, Libertyville Bank & Trust
Company, Barrington Bank & Trust Company, Crystal Lake Bank
& Trust Company, Northbrook Bank & Trust Company, Advantage
National Bank in Elk Grove Village, Village Bank & Trust in
Arlington Heights, Beverly Bank & Trust Company in Chicago,
Wheaton Bank & Trust Company, State Bank of The Lakes in
Antioch, Old Plank Trail Community Bank, N.A. in New Lenox, St.
Charles Bank & Trust Company and Town Bank in Hartland,
Wisconsin. The banks also operate facilities in Illinois in
Algonquin, Bloomingdale, Buffalo Grove, Cary, Chicago, Clarendon
Hills, Darien, Deerfield, Downers Grove, Frankfort, Geneva,
Glencoe, Glen Ellyn, Gurnee, Grayslake, Highland Park, Highwood,
Hoffman Estates, Island Lake, Lake Bluff, Lake Villa, Lindenhurst,
McHenry, Mokena, Mundelein, North Chicago, Northfield, Palatine,
Prospect Heights, Ravinia, Riverside, Roselle, Sauganash, Skokie,
Spring Grove, Vernon Hills, Wauconda, Western Springs, Willowbrook
and Winnetka, and in Delafield, Elm Grove, Madison and Wales,
Wisconsin. Additionally, the Company operates various non-bank
subsidiaries. First Insurance Funding Corporation, one of the
largest commercial insurance premium finance companies operating in
the United States, serves commercial loan customers throughout the
country. Tricom, Inc. of Milwaukee provides high-yielding,
short-term accounts receivable financing and value-added
out-sourced administrative services, such as data processing of
payrolls, billing and cash management services, to temporary
staffing service clients located throughout the United States.
Wintrust Mortgage Corporation (formerly known as WestAmerica
Mortgage Company) engages primarily in the origination and purchase
of residential mortgages for sale into the secondary market through
origination offices located throughout the United States. Loans are
also originated nationwide through relationships with wholesale and
correspondent offices. Wayne Hummer Investments, LLC is a
broker-dealer providing a full range of private client and
brokerage services to clients and correspondent banks located
primarily in the Midwest. Wayne Hummer Asset Management Company
provides money management services and advisory services to
individual accounts. Wayne Hummer Trust Company, a trust
subsidiary, allows Wintrust to service customers' trust and
investment needs at each banking location. Wintrust Information
Technology Services Company provides information technology
support, item capture and statement preparation services to the
Wintrust subsidiaries. FORWARD-LOOKING STATEMENTS This document
contains forward-looking statements within the meaning of federal
securities laws. Forward-looking information in this document can
be identified through the use of words such as "may," "will,"
"intend," "plan," "project," "expect," "anticipate," "should,"
"would," "believe," "estimate," "contemplate," "possible," and
"point." The forward-looking information is premised on many
factors, some of which are outlined below. The Company intends such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and is including this
statement for purposes of invoking these safe harbor provisions.
Such forward-looking statements may be deemed to include, among
other things, statements relating to the Company's projected
growth, anticipated improvements in earnings, earnings per share
and other financial performance measures, and management's
long-term performance goals, as well as statements relating to the
anticipated effects on financial results of condition from expected
developments or events, the Company's business and growth
strategies, including anticipated internal growth, plans to form
additional de novo banks and to open new branch offices, and to
pursue additional potential development or acquisitions of banks,
wealth management entities or specialty finance businesses. Actual
results could differ materially from those addressed in the
forward-looking statements as a result of numerous factors,
including the following: -- Competitive pressures in the financial
services business which may affect the pricing of the Company's
loan and deposit products as well as its services (including wealth
management services). -- Changes in the interest rate environment,
which may influence, among other things, the growth of loans and
deposits, the quality of the Company's loan portfolio, the pricing
of loans and deposits and interest income. -- The extent of
defaults and losses on our loan portfolio. -- Unexpected
difficulties or unanticipated developments related to the Company's
strategy of de novo bank formations and openings. De novo banks
typically require 13 to 24 months of operations before becoming
profitable, due to the impact of organizational and overhead
expenses, the startup phase of generating deposits and the time lag
typically involved in redeploying deposits into attractively priced
loans and other higher yielding earning assets. -- The ability of
the Company to obtain liquidity and income from the sale of premium
finance receivables in the future and the unique collection and
delinquency risks associated with such loans. -- Failure to
identify and complete acquisitions in the future or unexpected
difficulties or unanticipated developments related to the
integration of acquired entities with the Company. -- Legislative
or regulatory changes or actions, or significant litigation
involving the Company. -- Changes in general economic conditions in
the markets in which the Company operates. -- The ability of the
Company to receive dividends from its subsidiaries. -- The loss of
customers as a result of technological changes allowing consumers
to complete their financial transactions without the use of a bank.
-- The ability of the Company to attract and retain senior
management experienced in the banking and financial services
industries. -- The risk that the terms of the U.S. Treasury
Department's Capital Purchase Program could change. -- Distressed
global credit and capital markets; -- Changes in market interest
rates and loan and deposit pricing in the Company's markets; -- The
effect of continued margin pressure on the Company's financial
results; -- Additional deterioration in asset quality; -- The
possible need for further increases in our allowance for credit
losses; -- Additional charges related to asset impairments; --
Legislative or regulatory changes, particularly changes in the
regulation of financial services companies and/or the products and
services offered by financial services companies; -- The other risk
factors set forth in the Company's filings with the Securities and
Exchange Commission. Therefore, there can be no assurances that
future actual results will correspond to these forward-looking
statements. The reader is cautioned not to place undue reliance on
any forward looking statement made by or on behalf of Wintrust. Any
such statement speaks only as of the date the statement was made or
as of such date that may be referenced within the statement. The
Company undertakes no obligation to release revisions to these
forward-looking statements or reflect events or circumstances after
the date of this press release. Persons are advised, however, to
consult further disclosures management makes on related subjects in
its reports filed with the Securities and Exchange Commission and
in its press releases. DATASOURCE: Wintrust Financial Corporation
CONTACT: Edward J. Wehmer, President & Chief Executive Officer,
or David A. Dykstra, Senior Executive Vice President & Chief
Operating Officer, both of Wintrust Financial Corporation,
+1-847-615-4096 Web site: http://www.wintrust.com/
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