Wintrust Expands Lease and Equipment Finance Operation With Wintrust Commercial Finance
April 20 2015 - 4:07PM
Wintrust Financial Corporation ("Wintrust") (Nasdaq:WTFC) has
expanded its lease and equipment finance operation capability with
the addition of Wintrust Commercial Finance, an equipment-focused
financing group located in Texas. The group will provide highly
sophisticated loan and lease products to commercial companies in a
variety of industries throughout the United States and Canada.
"We've had great success with our current leasing operations,"
said Wintrust President and CEO Edward J. Wehmer. "We feel there is
room to expand, and broaden our national offering. The new team
offers extensive knowledge and experience and we know the new
addition will make our leasing offerings even more robust."
The Wintrust Commercial Finance group will have a
customer-focused origination philosophy while minimizing risk
through strong underwriting discipline and expert asset management
and will specialize in financing fixed assets consisting of
property, plant and equipment, including transportation (trucks,
trailers, rail, marine, buses), construction, manufacturing
equipment, technology, oil and gas, restaurant equipment, medical
and healthcare.
Wintrust Commercial Finance is led by an executive management
team with, on average, 25 years experience. Kirk S. Phillips, who
heads up the team as president and chief executive officer, has had
proven success developing, growing and managing commercial
equipment finance and leasing organizations with sustainable
profitability and solid portfolio performance, including senior
roles at AIG Commercial Equipment Finance and Transamerica
Equipment Finance Services Corporation.
Paul Hallauer and Jeff Darlington, CPA, also joined the team as
executive vice president and chief credit officer and executive
vice president and chief financial officer, respectively. Hallauer
has also had extensive experience in the field with management
roles at AIG Investments and AIG Commercial Equipment Finance and
General Electric Capital Corporation. Darlington brings significant
experience, as a chief financial officer and controller in the
financial services industry, to the team. His past roles at AIG,
and with finance groups at CIT, have given him valuable knowledge
and understanding of the business life cycle and key drivers in the
market.
Wintrust Commercial Finance compliments Wintrust's other leasing
groups: Wintrust Equipment Finance and Wintrust Capital, based in
the Chicago metropolitan area.
About Wintrust
Wintrust is a financial holding company with assets of
approximately $20 billion whose common stock is traded on the
NASDAQ Global Select Market. Built on the "HAVE IT ALL" model,
Wintrust offers sophisticated technology and resources of a large
bank while focusing on providing service-based community banking to
each and every customer. Wintrust operates fifteen community bank
subsidiaries, with over 140 banking locations located in the
greater Chicago and southern Wisconsin market areas. Additionally,
the Company operates various non-bank business units including one
of the largest commercial insurance premium finance companies
operating in the United States and Canada, a company providing
short-term accounts receivable financing and value-added
out-sourced administrative services to the temporary staffing
services industry, a business unit engaging primarily in the
origination and purchase of residential mortgages for sale into the
secondary market throughout the United States, and companies
providing wealth management services.
Forward-Looking Information
This press release contains forward-looking statements within
the meaning of the federal securities laws. Investors are cautioned
that such statements are predictions and that actual events or
results may differ materially. Wintrust's expected financial
results or other plans are subject to a number of risks and
uncertainties. For a discussion of such risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see "Risk Factors" and the
forward-looking statement disclosure contained in Wintrust's Annual
Report on Form 10-K for the most recently ended fiscal year.
Forward-looking statements speak only as of the date made and
Wintrust undertakes no duty to update the information.
CONTACT: FOR MORE INFORMATION CONTACT:
Edward J. Wehmer
President & Chief Executive Officer
David A. Dykstra
Senior Executive Vice President & Chief Operating Officer
(847) 939-9000
Website address: www.wintrust.com
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