Wintrust Financial Corporation Announces Precautionary Decision to Help Achieve Community Health Objectives By Temporarily Cl...
March 17 2020 - 7:00AM
Wintrust Financial Corporation (“Wintrust” or “the Company”)
(Nasdaq: WTFC) announced today that it is temporarily closing or
modifying service locations at approximately 50 Wintrust community
bank locations in Northern Illinois and Southern Wisconsin
beginning Tuesday, March 17. At present, approximately 135 branches
will remain open to serve clients. This is consistent with actions
that other peer banks have taken and that others are anticipated to
take in the coming days.
Wintrust made this precautionary decision to allow for staff to
manage for school closures and aid family members, and to support
the public health efforts to reduce transmission of the COVID-19
virus, although to date, Wintrust is not aware of any employee or
customer at any location who has been infected. Wintrust
anticipates serving its entire client footprint despite these
limited temporary closures. Clients can find listings of open
and closed branches at www.wintrust.com.
Edward J. Wehmer, Founder and Chief Executive Officer,
commented, "The health and safety of our clients and employees are
at the heart of every decision we make. The temporary
measures we are taking now, which also include splitting our staff
into teams at different sites, encouraging work from home where
possible and incremental backup sites, are aimed at making sure
that we keep our staff and clients as safe as possible, that we are
positioned to take care of clients’ financial needs and remain
equipped to withstand any further disruption. We will
continue to carefully monitor the situation and quickly adapt to
take further actions as necessary until public health officials
advise that these measures are no longer necessary.”
All of Wintrust’s bank sites are receiving enhanced cleaning as
part of their routine activities and employees have been informed
and are being regularly reminded of best practices in hygiene and
physical interactions.
Wehmer continued, “The coming weeks will be a challenge for all
of us, and we apologize for any inconvenience these temporary
actions may cause our clients. We are making sure our clients know
they can receive 24/7 support through our online and digital tools,
where you can perform most transactions and access most information
without coming into our facilities. We value our clients’
loyalty and appreciate their support during this time.”
About WintrustWintrust is a financial holding
company with assets of over $35 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 180 banking locations
located in the greater Chicago and southern Wisconsin market areas.
Additionally, Wintrust operates various non-bank business units
including business units which provide commercial and life
insurance premium financing in the United States, a premium finance
company operating in 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 and qualified intermediary services for
tax-deferred exchanges.
Forward-Looking InformationThis press release
contains forward-looking statements within the meaning of the
federal securities laws. Investors are cautioned that such
statements are predictions and 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 most
recent Annual Report on Form 10-K and in any of the Company’s
subsequent SEC filings. Forward-looking statements speak only as of
the date made and Wintrust undertakes no duty to update the
information.
FOR MORE INFORMATION CONTACT: Edward J. Wehmer, Founder &
Chief Executive Officer David A. Dykstra, Vice Chairman & Chief
Operating Officer (847) 939-9000 Web site address:
www.wintrust.com
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