| ☑ | Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||
| ☐ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||
| Illinois | 36-3873352 | |||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||||||||
| Common Stock, no par value | WTFC | The Nasdaq Global Select Market | ||||||||||||
Depositary Shares, Each Representing a 1/1,000th Interest in a Share of | WTFCN | The Nasdaq Global Select Market | ||||||||||||
| 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F, no par value | ||||||||||||||
| Large accelerated filer | ☑ | Accelerated filer | ☐ | Non-Accelerated filer | ☐ | |||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | |||||||||||||||||
| Page | ||||||||
| PART I | ||||||||
| ITEM 1 | Business | |||||||
| ITEM 1A. | Risk Factors | |||||||
| ITEM 1B. | Unresolved Staff Comments | |||||||
| ITEM 1C. | Cybersecurity | |||||||
| ITEM 2. | Properties | |||||||
| ITEM 3. | Legal Proceedings | |||||||
| ITEM 4. | Mine Safety Disclosures | |||||||
| PART II | ||||||||
| ITEM 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | |||||||
| ITEM 6. | [Reserved] | |||||||
| ITEM 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | |||||||
| ITEM 7A. | Quantitative and Qualitative Disclosures About Market Risk | |||||||
| ITEM 8. | Financial Statements and Supplementary Data | |||||||
| ITEM 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | |||||||
| ITEM 9A. | Controls and Procedures | |||||||
| ITEM 9B. | Other Information | |||||||
| ITEM 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | |||||||
| PART III | ||||||||
| ITEM 10. | Directors, Executive Officers and Corporate Governance | |||||||
| ITEM 11. | Executive Compensation | |||||||
| ITEM 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | |||||||
| ITEM 13. | Certain Relationships and Related Transactions, and Director Independence | |||||||
| ITEM 14. | Principal Accountant Fees and Services | |||||||
| PART IV | ||||||||
| ITEM 15. | Exhibits, Financial Statement Schedules | |||||||
| ITEM 16. | Form 10-K Summary | |||||||
| Signatures | ||||||||
3 | ||||||||
4 | ||||||||
5 | ||||||||
6 | ||||||||
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8 | ||||||||
9 | ||||||||
10 | ||||||||
| Minimum Regulatory Capital Ratio Plus Capital Conservation Buffer | ||||||||
| Tier 1 Capital Ratio | 8.50 | % | ||||||
| Common Equity Tier 1 Capital Ratio | 7.00 | |||||||
| Total Capital Ratio | 10.50 | |||||||
11 | ||||||||
| Company Regulatory Capital Ratios | ||||||||||||||||||||||||||
| Minimum Regulatory Capital Ratio for the Company | Minimum Ratio + Capital Conservation Buffer(1) | Well-Capitalized Minimum for the Company(2) | The Company | |||||||||||||||||||||||
| Tier 1 Leverage Ratio | 4.00 | % | N/A | N/A | 9.6 | % | ||||||||||||||||||||
| Risk-based capital ratios: | ||||||||||||||||||||||||||
| Tier 1 Capital Ratio | 6.00 | 8.50 | 6.00 | 11.0 | ||||||||||||||||||||||
| Common Equity Tier 1 Capital Ratio | 4.50 | 7.00 | N/A | 10.3 | ||||||||||||||||||||||
| Total Capital Ratio | 8.00 | 10.50 | 10.00 | 12.4 | ||||||||||||||||||||||
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| ITEM 1A. | RISK FACTORS | ||||
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| ITEM 5. | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES | ||||

| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |||||||||||||||||||||||||||||||||
| Wintrust Financial Corporation | 100.00 | 151.10 | 142.73 | 159.87 | 218.75 | 249.22 | ||||||||||||||||||||||||||||||||
| Nasdaq — Total US | 100.00 | 125.89 | 101.05 | 127.76 | 159.03 | 186.96 | ||||||||||||||||||||||||||||||||
| Nasdaq — Bank Index | 100.00 | 137.31 | 113.60 | 125.02 | 168.35 | 216.97 | ||||||||||||||||||||||||||||||||
46 | ||||||||
| Record Date | Payable Date | Dividend per Share | ||||||||||||
| November 6, 2025 | November 20, 2025 | $0.50 | ||||||||||||
| August 7, 2025 | August 21, 2025 | $0.50 | ||||||||||||
| May 8, 2025 | May 22, 2025 | $0.50 | ||||||||||||
| February 6, 2025 | February 20, 2025 | $0.50 | ||||||||||||
| November 7, 2024 | November 22, 2024 | $0.45 | ||||||||||||
| August 8, 2024 | August 22, 2024 | $0.45 | ||||||||||||
| May 9, 2024 | May 23, 2024 | $0.45 | ||||||||||||
| February 8, 2024 | February 22, 2024 | $0.45 | ||||||||||||
| ITEM 6. | [Reserved] | ||||
47 | ||||||||
| ITEM 7. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | ||||
| Years Ended December 31, | Percentage (%) or Basis Point (bp) Change | Percentage (%) or Basis Point (bp) Change | ||||||||||||||||||||||||||||||
(Dollars in thousands, except per share data) | 2025 | 2024 | 2023 | 2024 to 2025 | 2023 to 2024 | |||||||||||||||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | 19 | % | 12 | % | ||||||||||||||||||||||
Pre-tax income, excluding provision for credit losses (non-GAAP) (1) | 1,213,960 | 1,048,136 | 959,471 | 16 | 9 | |||||||||||||||||||||||||||
| Net income per common share — Diluted | 11.40 | 10.31 | 9.58 | 11 | 8 | |||||||||||||||||||||||||||
Net revenue (2) | 2,725,992 | 2,450,860 | 2,271,970 | 11 | 8 | |||||||||||||||||||||||||||
| Net interest income | 2,224,052 | 1,962,535 | 1,837,864 | 13 | 7 | |||||||||||||||||||||||||||
| Net interest margin | 3.52 | % | 3.51 | % | 3.66 | % | 1 | bp | (15) | bps | ||||||||||||||||||||||
Net interest margin - fully taxable-equivalent (non-GAAP) (1) | 3.53 | 3.53 | 3.68 | — | (15) | |||||||||||||||||||||||||||
Net overhead ratio (3) | 1.51 | 1.54 | 1.64 | (3) | (10) | |||||||||||||||||||||||||||
| Non-interest income to average assets | 0.75 | 0.82 | 0.81 | (7) | 1 | |||||||||||||||||||||||||||
| Non-interest expense to average assets | 2.26 | 2.36 | 2.45 | (10) | (9) | |||||||||||||||||||||||||||
| Return on average assets | 1.23 | 1.17 | 1.16 | 6 | 1 | |||||||||||||||||||||||||||
| Return on average common equity | 12.13 | 12.32 | 12.90 | (19) | (58) | |||||||||||||||||||||||||||
Return on average tangible common equity (non-GAAP) (1) | 14.43 | 14.58 | 15.23 | (15) | (65) | |||||||||||||||||||||||||||
| At end of period | ||||||||||||||||||||||||||||||||
| Total assets | $ | 71,142,046 | $ | 64,879,668 | $ | 56,259,934 | 10 | % | 15 | % | ||||||||||||||||||||||
| Total loans, excluding loans held-for-sale | 53,105,101 | 48,055,037 | 42,131,831 | 11 | 14 | |||||||||||||||||||||||||||
| Total deposits | 57,717,191 | 52,512,349 | 45,397,170 | 10 | 16 | |||||||||||||||||||||||||||
| Total shareholders’ equity | 7,258,715 | 6,344,297 | 5,399,526 | 14 | 17 | |||||||||||||||||||||||||||
| Average loans to average deposits ratio | 92.6 | % | 93.8 | % | 93.1 | % | (120) | bps | 70 | bps | ||||||||||||||||||||||
Book value per common share (1) | $ | 102.03 | $ | 89.21 | $ | 81.43 | 14 | % | 10 | % | ||||||||||||||||||||||
Tangible book value per common share (non-GAAP) (1) | 88.66 | 75.39 | 70.33 | 18 | 7 | |||||||||||||||||||||||||||
Common equity to assets ratio (1) | 9.6 | % | 9.1 | % | 8.9 | % | 50 | bps | 20 | bps | ||||||||||||||||||||||
Tangible common equity ratio (non-GAAP) (1) | 8.5 | 7.8 | 7.7 | 70 | 10 | |||||||||||||||||||||||||||
| Market price per common share | $ | 139.82 | $ | 124.71 | $ | 92.75 | 12 | % | 34 | % | ||||||||||||||||||||||
| Allowance for loan and unfunded lending-related commitment losses to total loans | 0.87 | % | 0.91 | % | 1.01 | % | (4) | bps | (10) | bps | ||||||||||||||||||||||
| Non-performing loans to total loans | 0.35 | 0.36 | 0.33 | (1) | 3 | |||||||||||||||||||||||||||
48 | ||||||||
49 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
| (Dollars and shares in thousands, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio: | ||||||||||||||||||||
| (A) Interest Income (GAAP) | $ | 3,728,033 | $ | 3,477,597 | $ | 2,893,114 | ||||||||||||||
Taxable-equivalent adjustment: | ||||||||||||||||||||
| -Loans | 8,694 | 9,377 | 7,827 | |||||||||||||||||
| -Liquidity management assets | 2,706 | 2,501 | 2,249 | |||||||||||||||||
| -Other earning assets | 3 | 12 | 10 | |||||||||||||||||
| (B) Interest Income (non-GAAP) | $ | 3,739,436 | $ | 3,489,487 | $ | 2,903,200 | ||||||||||||||
| (C) Interest Expense (GAAP) | 1,503,981 | 1,515,062 | 1,055,250 | |||||||||||||||||
| (D) Net Interest Income (GAAP) (A minus C) | 2,224,052 | 1,962,535 | 1,837,864 | |||||||||||||||||
| (E) Net interest Income, fully taxable-equivalent (non-GAAP) (B minus C) | 2,235,455 | 1,974,425 | 1,847,950 | |||||||||||||||||
| Net interest margin (GAAP) | 3.52 | % | 3.51 | % | 3.66 | % | ||||||||||||||
| Net interest margin, fully taxable-equivalent (non-GAAP) | 3.53 | 3.53 | 3.68 | |||||||||||||||||
| (F) Non-interest income | $ | 501,940 | $ | 488,325 | $ | 434,106 | ||||||||||||||
| (G) Gains (losses) on investment securities, net | 8,323 | (2,602) | 1,525 | |||||||||||||||||
| (H) Non-interest expense | 1,512,032 | 1,402,724 | 1,312,499 | |||||||||||||||||
| Efficiency ratio (H/(D+F-G)) | 55.64 | % | 57.17 | % | 57.81 | % | ||||||||||||||
| Efficiency ratio (non-GAAP) (H/(E+F-G)) | 55.40 | 56.90 | 57.55 | |||||||||||||||||
| Reconciliation of Non-GAAP Tangible Common Equity Ratio: | ||||||||||||||||||||
| Total shareholders’ equity (GAAP) | $ | 7,258,715 | $ | 6,344,297 | $ | 5,399,526 | ||||||||||||||
| Less: Non-convertible preferred stock (GAAP) | (425,000) | (412,500) | (412,500) | |||||||||||||||||
| Less: Acquisition-related intangible assets (GAAP) | (895,959) | (918,632) | (679,561) | |||||||||||||||||
| (I) Total tangible common shareholders’ equity (non-GAAP) | $ | 5,937,756 | $ | 5,013,165 | $ | 4,307,465 | ||||||||||||||
| (J) Total assets (GAAP) | $ | 71,142,046 | $ | 64,879,668 | $ | 56,259,934 | ||||||||||||||
| Less: Acquisition-related intangible assets (GAAP) | (895,959) | (918,632) | (679,561) | |||||||||||||||||
| (K) Total tangible assets (non-GAAP) | $ | 70,246,087 | $ | 63,961,036 | $ | 55,580,373 | ||||||||||||||
| Common equity to assets ratio (GAAP) (L/J) | 9.6 | % | 9.1 | % | 8.9 | % | ||||||||||||||
| Tangible common equity ratio (non-GAAP) (I/K) | 8.5 | 7.8 | 7.7 | |||||||||||||||||
| Reconciliation of Non-GAAP Tangible Book Value per Common Share: | ||||||||||||||||||||
| Total shareholders’ equity (GAAP) | $ | 7,258,715 | $ | 6,344,297 | $ | 5,399,526 | ||||||||||||||
| Less: Non-convertible preferred stock (GAAP) | (425,000) | (412,500) | (412,500) | |||||||||||||||||
| (L) Total common equity | $ | 6,833,715 | $ | 5,931,797 | $ | 4,987,026 | ||||||||||||||
| (M) Actual common shares outstanding | 66,975 | 66,495 | 61,244 | |||||||||||||||||
| Book value per common share (L/M) | $ | 102.03 | $ | 89.21 | $ | 81.43 | ||||||||||||||
| Tangible book value per common share (Non-GAAP) (I/M) | 88.66 | 75.39 | 70.33 | |||||||||||||||||
| Reconciliation of Non-GAAP Return on Average Tangible Common Equity: | ||||||||||||||||||||
| (N) Net income applicable to common shares | $ | 774,154 | $ | 667,081 | $ | 594,662 | ||||||||||||||
| Add: Acquisition-related intangible asset amortization | 21,393 | 12,095 | 5,498 | |||||||||||||||||
| Less: Tax effect of acquisition-related intangible asset amortization | (5,626) | (3,217) | (1,446) | |||||||||||||||||
| After-tax acquisition-related intangible asset amortization | 15,767 | 8,878 | 4,052 | |||||||||||||||||
| (O) Tangible net income applicable to common shares (non-GAAP) | $ | 789,921 | $ | 675,959 | $ | 598,714 | ||||||||||||||
| Total average shareholders’ equity | $ | 6,863,474 | $ | 5,826,940 | $ | 5,023,153 | ||||||||||||||
| Less: Average preferred stock | (480,068) | (412,500) | (412,500) | |||||||||||||||||
| (P) Total average common shareholders’ equity | $ | 6,383,406 | $ | 5,414,440 | $ | 4,610,653 | ||||||||||||||
| Less: Average acquisition-related intangible assets | (908,464) | (778,283) | (679,802) | |||||||||||||||||
| (Q) Total average tangible common shareholders’ equity (non-GAAP) | $ | 5,474,942 | $ | 4,636,157 | $ | 3,930,851 | ||||||||||||||
| Return on average common equity (N/P) | 12.13 | % | 12.32 | % | 12.90 | % | ||||||||||||||
| Return on average tangible common equity (non-GAAP) (O/Q) | 14.43 | 14.58 | 15.23 | |||||||||||||||||
| Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income: | ||||||||||||||||||||
| Income before taxes | $ | 1,118,407 | $ | 947,089 | $ | 845,081 | ||||||||||||||
| Add: Provision for credit losses | 95,553 | 101,047 | 114,390 | |||||||||||||||||
| Pre-tax income, excluding provision for credit losses (non-GAAP) | $ | 1,213,960 | $ | 1,048,136 | $ | 959,471 | ||||||||||||||
50 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
| (Dollars and shares in thousands, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Reconciliation of Non-GAAP Net Income per Common Share: | ||||||||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | ||||||||||||||
| Preferred stock dividends | 35,644 | 27,964 | 27,964 | |||||||||||||||||
| Preferred stock redemption | 14,046 | — | — | |||||||||||||||||
| (R) Net income applicable to common shares | $ | 774,154 | $ | 667,081 | $ | 594,662 | ||||||||||||||
| (S) Weighted average common shares outstanding | 66,896 | 63,685 | 61,149 | |||||||||||||||||
| Dilutive potential common shares | 998 | 1,016 | 938 | |||||||||||||||||
| (T) Average common shares and dilutive common shares | 67,894 | 64,701 | 62,087 | |||||||||||||||||
| Net income per common share - Basic (R/S) | $ | 11.57 | $ | 10.47 | $ | 9.72 | ||||||||||||||
| Net income per common share - Diluted (R/T) | $ | 11.40 | $ | 10.31 | $ | 9.58 | ||||||||||||||
| Preferred stock series F excess one-time extended first dividend | $ | 4,927 | $ | — | $ | — | ||||||||||||||
| Preferred stock redemption | 14,046 | — | — | |||||||||||||||||
| (U) Total non-recurring preferred stock offering impact (non-GAAP) | $ | 18,973 | $ | — | $ | — | ||||||||||||||
| Net income per common share - Basic (non-GAAP) (R+U)/S | $ | 11.86 | $ | 10.47 | $ | 9.72 | ||||||||||||||
| Net income per common share - Diluted (non-GAAP) (R+U)/T | $ | 11.68 | $ | 10.31 | $ | 9.58 | ||||||||||||||
51 | ||||||||
52 | ||||||||
53 | ||||||||
54 | ||||||||
55 | ||||||||
56 | ||||||||
| Impact to estimated allowance for credit losses from an increased or higher input value | ||||||||||||||
| Baa Credit Spread | Increases | |||||||||||||
| Dow Jones Total Stock Market Index | Decreases | |||||||||||||
| CRE Price Index | Decreases | |||||||||||||
| Baa Credit Spread | ||||||||
| Narrows | Widens | |||||||
| Commercial | Decreases estimate by 15%-20% | Increases estimate by 20%-25% | ||||||
| Commercial Real Estate: | ||||||||
| Construction | Decreases estimate by 20%-25% | Increases estimate by 30%-35% | ||||||
| Non-Construction | Decreases estimate by 8%-9% | Increases estimate by 9%-10% | ||||||
| Dow Jones Total Stock Market Index | ||||||||
| Increases | Decreases | |||||||
| Commercial | Decreases estimate by 5%-10% | Increases estimate by 5%-10% | ||||||
57 | ||||||||
| CRE Price Index | ||||||||
| Increases | Decreases | |||||||
| Commercial Real Estate: | ||||||||
| Construction | Decreases estimate by 35%-40% | Increases estimate by 120%-125% | ||||||
| Non-Construction | Decreases estimate by 25%-30% | Increases estimate by 50%-55% | ||||||
58 | ||||||||
59 | ||||||||
| Average Balance for the years ended December 31, | Interest for the years ended December 31, | Yield/Rate for the years ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1) | $ | 3,235,193 | $ | 2,276,818 | $ | 1,608,835 | $ | 133,872 | $ | 115,618 | $ | 80,783 | 4.14 | % | 5.08 | % | 5.02 | % | |||||||||||||||||||||||||||||||||||
Investment securities (2) | 9,173,502 | 8,229,846 | 7,721,661 | 334,662 | 278,617 | 240,837 | 3.65 | 3.39 | 3.12 | ||||||||||||||||||||||||||||||||||||||||||||
| FHLB and FRB stock | 282,678 | 255,018 | 215,699 | 21,641 | 20,060 | 14,912 | 7.66 | 7.87 | 6.91 | ||||||||||||||||||||||||||||||||||||||||||||
Total liquidity management assets (3) (8) | $ | 12,691,373 | $ | 10,761,682 | $ | 9,546,195 | $ | 490,175 | $ | 414,295 | $ | 336,532 | 3.86 | % | 3.85 | % | 3.53 | % | |||||||||||||||||||||||||||||||||||
Other earning assets (3) (4) (8) | 3,240 | 17,113 | 17,129 | 92 | 1,025 | 1,098 | 2.84 | 5.99 | 6.41 | ||||||||||||||||||||||||||||||||||||||||||||
| Mortgage loans held-for-sale | 312,718 | 348,278 | 294,421 | 19,482 | 21,436 | 16,791 | 6.23 | 6.15 | 5.70 | ||||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (3) (5) (8) | 50,252,196 | 44,765,445 | 40,324,472 | 3,229,687 | 3,052,731 | 2,548,779 | 6.43 | 6.82 | 6.32 | ||||||||||||||||||||||||||||||||||||||||||||
Total earning assets (8) | $ | 63,259,527 | $ | 55,892,518 | $ | 50,182,217 | $ | 3,739,436 | $ | 3,489,487 | $ | 2,903,200 | 5.91 | % | 6.24 | % | 5.79 | % | |||||||||||||||||||||||||||||||||||
| Allowance for loan and investment security losses | (397,318) | (368,342) | (308,724) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 492,131 | 455,708 | 468,298 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Other assets | 3,599,832 | 3,437,025 | 3,187,715 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 66,954,172 | $ | 59,416,909 | $ | 53,529,506 | |||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits — interest-bearing: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| NOW and interest-bearing demand deposits | $ | 6,323,704 | $ | 5,360,630 | $ | 5,626,277 | $ | 143,246 | $ | 130,281 | $ | 122,074 | 2.27 | % | 2.43 | % | 2.17 | % | |||||||||||||||||||||||||||||||||||
| Wealth management deposits | 1,665,152 | 1,458,404 | 1,730,523 | 35,214 | 40,324 | 42,782 | 2.11 | 2.76 | 2.47 | ||||||||||||||||||||||||||||||||||||||||||||
| Money market accounts | 18,927,479 | 15,946,363 | 13,665,248 | 635,680 | 620,411 | 429,900 | 3.36 | 3.89 | 3.15 | ||||||||||||||||||||||||||||||||||||||||||||
| Savings accounts | 6,650,054 | 6,015,085 | 5,299,205 | 146,775 | 161,429 | 109,666 | 2.21 | 2.68 | 2.07 | ||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 9,906,063 | 8,753,848 | 5,952,537 | 380,812 | 391,197 | 202,048 | 3.84 | 4.47 | 3.39 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | $ | 43,472,452 | $ | 37,534,330 | $ | 32,273,790 | $ | 1,341,727 | $ | 1,343,642 | $ | 906,470 | 3.09 | % | 3.58 | % | 2.81 | % | |||||||||||||||||||||||||||||||||||
| FHLB advances | 3,164,460 | 3,042,052 | 2,316,722 | 103,580 | 99,149 | 72,287 | 3.27 | 3.26 | 3.12 | ||||||||||||||||||||||||||||||||||||||||||||
| Other borrowings | 584,537 | 603,868 | 630,115 | 26,592 | 34,480 | 35,280 | 4.55 | 5.71 | 5.60 | ||||||||||||||||||||||||||||||||||||||||||||
| Subordinated notes | 298,441 | 360,802 | 437,604 | 14,903 | 18,117 | 22,023 | 4.99 | 5.02 | 5.03 | ||||||||||||||||||||||||||||||||||||||||||||
| Junior subordinated notes | 253,566 | 253,566 | 253,566 | 17,179 | 19,674 | 19,190 | 6.78 | 7.76 | 7.57 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | $ | 47,773,456 | $ | 41,794,618 | $ | 35,911,797 | $ | 1,503,981 | $ | 1,515,062 | $ | 1,055,250 | 3.15 | % | 3.63 | % | 2.94 | % | |||||||||||||||||||||||||||||||||||
| Non-interest-bearing deposits | 10,812,877 | 10,212,088 | 11,018,596 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | 1,504,365 | 1,583,263 | 1,575,960 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity | 6,863,474 | 5,826,940 | 5,023,153 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 66,954,172 | $ | 59,416,909 | $ | 53,529,506 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate spread (6) (8) | 2.76 | % | 2.61 | % | 2.85 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Less: fully taxable-equivalent adjustment | $ | (11,403) | $ | (11,890) | $ | (10,086) | (0.01) | (0.02) | (0.02) | ||||||||||||||||||||||||||||||||||||||||||||
Net free funds/contribution (7) | $ | 15,486,071 | $ | 14,097,900 | $ | 14,270,420 | 0.77 | 0.92 | 0.83 | ||||||||||||||||||||||||||||||||||||||||||||
Net interest income/margin (GAAP) (8) | $ | 2,224,052 | $ | 1,962,535 | $ | 1,837,864 | 3.52 | % | 3.51 | % | 3.66 | % | |||||||||||||||||||||||||||||||||||||||||
| Fully taxable-equivalent adjustment | 11,403 | 11,890 | 10,086 | 0.01 | 0.02 | 0.02 | |||||||||||||||||||||||||||||||||||||||||||||||
Net interest income/margin fully taxable-equivalent (non-GAAP) (8) | $ | 2,235,455 | $ | 1,974,425 | $ | 1,847,950 | 3.53 | % | 3.53 | % | 3.68 | % | |||||||||||||||||||||||||||||||||||||||||
60 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||
2025 Compared to 2024 | 2024 Compared to 2023 | |||||||||||||||||||||||||||||||||||||
| (In thousands) | Change Due to Rate | Change Due to Volume | Total Change | Change Due to Rate | Change Due to Volume | Total Change | ||||||||||||||||||||||||||||||||
Interest income, FTE basis (non-GAAP) (1) | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (2) | $ | (23,976) | $ | 42,230 | $ | 18,254 | $ | 968 | $ | 33,867 | $ | 34,835 | ||||||||||||||||||||||||||
| Investment securities | 22,787 | 33,258 | 56,045 | 21,089 | 16,691 | 37,780 | ||||||||||||||||||||||||||||||||
| FHLB and FRB stock | (535) | 2,116 | 1,581 | 2,208 | 2,940 | 5,148 | ||||||||||||||||||||||||||||||||
| Total liquidity management assets | $ | (1,724) | $ | 77,604 | $ | 75,880 | $ | 24,265 | $ | 53,498 | $ | 77,763 | ||||||||||||||||||||||||||
| Other earning assets | (371) | (562) | (933) | (75) | 2 | (73) | ||||||||||||||||||||||||||||||||
| Mortgage loans held-for-sale | 278 | (2,232) | (1,954) | 1,387 | 3,258 | 4,645 | ||||||||||||||||||||||||||||||||
| Loans, net of unearned income | (178,234) | 355,190 | 176,956 | 207,753 | 296,199 | 503,952 | ||||||||||||||||||||||||||||||||
| Total interest income | $ | (180,051) | $ | 430,000 | $ | 249,949 | $ | 233,330 | $ | 352,957 | $ | 586,287 | ||||||||||||||||||||||||||
| Interest Expense | ||||||||||||||||||||||||||||||||||||||
| Deposits — interest-bearing: | ||||||||||||||||||||||||||||||||||||||
| NOW and interest-bearing demand deposits | $ | (8,947) | $ | 21,912 | $ | 12,965 | $ | 13,940 | $ | (5,733) | $ | 8,207 | ||||||||||||||||||||||||||
| Wealth management deposits | (10,231) | 5,121 | (5,110) | 4,664 | (7,122) | (2,458) | ||||||||||||||||||||||||||||||||
| Money market accounts | (90,360) | 105,629 | 15,269 | 110,745 | 79,766 | 190,511 | ||||||||||||||||||||||||||||||||
| Savings accounts | (30,074) | 15,420 | (14,654) | 35,290 | 16,473 | 51,763 | ||||||||||||||||||||||||||||||||
| Time deposits | (57,928) | 47,543 | (10,385) | 76,076 | 113,073 | 189,149 | ||||||||||||||||||||||||||||||||
| Total interest expense — deposits | $ | (197,540) | $ | 195,625 | $ | (1,915) | $ | 240,715 | $ | 196,457 | $ | 437,172 | ||||||||||||||||||||||||||
| FHLB advances | 333 | 4,098 | 4,431 | 3,343 | 23,519 | 26,862 | ||||||||||||||||||||||||||||||||
| Other borrowings | (6,733) | (1,155) | (7,888) | 657 | (1,457) | (800) | ||||||||||||||||||||||||||||||||
| Subordinated notes | (105) | (3,109) | (3,214) | (45) | (3,861) | (3,906) | ||||||||||||||||||||||||||||||||
| Junior subordinated notes | (2,441) | (54) | (2,495) | 432 | 52 | 484 | ||||||||||||||||||||||||||||||||
| Total interest expense | $ | (206,486) | $ | 195,405 | $ | (11,081) | $ | 245,102 | $ | 214,710 | $ | 459,812 | ||||||||||||||||||||||||||
| Less: fully taxable-equivalent adjustment | 487 | — | 487 | (1,804) | — | (1,804) | ||||||||||||||||||||||||||||||||
Net interest income (GAAP) (1) | $ | 26,922 | $ | 234,595 | $ | 261,517 | $ | (13,576) | $ | 138,247 | $ | 124,671 | ||||||||||||||||||||||||||
| Fully taxable-equivalent adjustment | (487) | — | (487) | 1,804 | — | 1,804 | ||||||||||||||||||||||||||||||||
Net interest income, FTE basis (non-GAAP) (1) | $ | 26,435 | $ | 234,595 | $ | 261,030 | $ | (11,772) | $ | 138,247 | $ | 126,475 | ||||||||||||||||||||||||||
61 | ||||||||
| Years ended December 31, | 2025 compared to 2024 | 2024 compared to 2023 | |||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | 2023 | $ Change | % Change | $ Change | % Change | ||||||||||||||||||||||||||||||||||
| Brokerage | $ | 18,779 | $ | 22,611 | $ | 18,645 | $ | (3,832) | (17) | % | $ | 3,966 | 21 | % | |||||||||||||||||||||||||||
| Trust and asset management | 128,637 | 123,616 | 111,962 | 5,021 | 4 | 11,654 | 10 | ||||||||||||||||||||||||||||||||||
Total wealth management (1) | $ | 147,416 | $ | 146,227 | $ | 130,607 | $ | 1,189 | 1 | % | $ | 15,620 | 12 | % | |||||||||||||||||||||||||||
| Mortgage banking | 90,775 | 93,213 | 83,073 | (2,438) | (3) | 10,140 | 12 | ||||||||||||||||||||||||||||||||||
| Service charges on deposit accounts | 79,091 | 65,651 | 55,250 | 13,440 | 20 | 10,401 | 19 | ||||||||||||||||||||||||||||||||||
| Gains (losses) on investment securities, net | 8,323 | (2,602) | 1,525 | 10,925 | NM | (4,127) | NM | ||||||||||||||||||||||||||||||||||
| Fees from covered call options | 20,681 | 10,196 | 21,863 | 10,485 | NM | (11,667) | (53) | ||||||||||||||||||||||||||||||||||
| Trading gains, net | 2 | 504 | 1,142 | (502) | (100) | (638) | (56) | ||||||||||||||||||||||||||||||||||
| Operating lease income, net | 62,284 | 58,710 | 53,298 | 3,574 | 6 | 5,412 | 10 | ||||||||||||||||||||||||||||||||||
| Other: | |||||||||||||||||||||||||||||||||||||||||
| Interest rate swap fees | 13,852 | 12,494 | 12,251 | 1,358 | 11 | 243 | 2 | ||||||||||||||||||||||||||||||||||
| Bank owned life insurance (“BOLI”) | 6,559 | 5,755 | 5,149 | 804 | 14 | 606 | 12 | ||||||||||||||||||||||||||||||||||
| Administrative services | 5,300 | 5,336 | 5,599 | (36) | (1) | (263) | (5) | ||||||||||||||||||||||||||||||||||
| Foreign currency remeasurement (losses) gains | 381 | (1,302) | 1,059 | 1,683 | NM | (2,361) | NM | ||||||||||||||||||||||||||||||||||
| Changes in fair value on EBOs and loans held-for-investment | 305 | 812 | 1,521 | (507) | (62) | (709) | (47) | ||||||||||||||||||||||||||||||||||
| Early pay-offs of capital leases | 2,268 | 1,869 | 1,184 | 399 | 21 | 685 | 58 | ||||||||||||||||||||||||||||||||||
| Miscellaneous | 64,703 | 91,462 | 60,585 | (26,759) | (29) | 30,877 | 51 | ||||||||||||||||||||||||||||||||||
Total Other | $ | 93,368 | $ | 116,426 | $ | 87,348 | $ | (23,058) | (20) | % | $ | 29,078 | 33 | % | |||||||||||||||||||||||||||
| Total Non-Interest Income | $ | 501,940 | $ | 488,325 | $ | 434,106 | $ | 13,615 | 3 | % | $ | 54,219 | 12 | % | |||||||||||||||||||||||||||
62 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Originations: | ||||||||||||||||||||
| Retail originations | $ | 1,967,159 | $ | 1,886,730 | $ | 1,387,423 | ||||||||||||||
| Veterans First originations | 615,426 | 738,184 | 574,782 | |||||||||||||||||
| Total originations for sale (A) | $ | 2,582,585 | $ | 2,624,914 | $ | 1,962,205 | ||||||||||||||
| Originations for investment | 1,356,103 | 1,018,680 | 578,571 | |||||||||||||||||
| Total originations | $ | 3,938,688 | $ | 3,643,594 | $ | 2,540,776 | ||||||||||||||
| As a percentage of originations for sale: | ||||||||||||||||||||
| Retail originations | 76 | % | 72 | % | 71 | % | ||||||||||||||
| Veterans First originations | 24 | 28 | 29 | |||||||||||||||||
| Purchases | 68 | % | 75 | % | 83 | % | ||||||||||||||
| Refinances | 32 | 25 | 17 | |||||||||||||||||
| Production Margin: | ||||||||||||||||||||
Production revenue (B) (1) | $ | 49,587 | $ | 48,531 | $ | 41,031 | ||||||||||||||
| Total originations for sale (A) | 2,582,585 | 2,624,914 | 1,962,205 | |||||||||||||||||
Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2) | 122,804 | 103,946 | 119,624 | |||||||||||||||||
Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2) | 103,946 | 119,624 | 113,303 | |||||||||||||||||
| Total mortgage production volume (C) | $ | 2,601,443 | $ | 2,609,236 | $ | 1,968,526 | ||||||||||||||
| Production margin (B / C) | 1.91 | % | 1.86 | % | 2.08 | % | ||||||||||||||
| Mortgage servicing: | ||||||||||||||||||||
| Loans serviced for others (D) | $ | 12,608,694 | $ | 12,400,913 | $ | 12,007,165 | ||||||||||||||
| Mortgage servicing rights, at fair value (E) | 195,023 | 203,788 | 192,456 | |||||||||||||||||
| Percentage of mortgage servicing rights to loans serviced for others (E/D) | 1.55 | % | 1.64 | % | 1.60 | % | ||||||||||||||
| Servicing income | 41,428 | 42,624 | 43,563 | |||||||||||||||||
| MSR Fair Value Asset Activity | ||||||||||||||||||||
| MSR - FV at Beginning of Period | $ | 203,788 | $ | 192,456 | $ | 230,225 | ||||||||||||||
| MSR - current period rights sold | — | — | (30,170) | |||||||||||||||||
| MSR - current period capitalization | 25,984 | 29,969 | 28,610 | |||||||||||||||||
| MSR - collection of expected cash flows - paydowns | (6,210) | (6,009) | (6,284) | |||||||||||||||||
| MSR - collection of expected cash flows - payoffs and repurchases | (17,446) | (17,017) | (10,776) | |||||||||||||||||
| MSR - changes in fair value model assumptions | (11,093) | 4,389 | (19,149) | |||||||||||||||||
| MSR Fair Value at end of period | $ | 195,023 | $ | 203,788 | $ | 192,456 | ||||||||||||||
| Summary of Mortgage Banking Revenue Operational: | ||||||||||||||||||||
Production revenue (1) | $ | 49,587 | $ | 48,531 | $ | 41,031 | ||||||||||||||
| MSR - Current period capitalization | 25,984 | 29,969 | 28,610 | |||||||||||||||||
| MSR - Collection of expected cash flows - paydowns | (6,210) | (6,009) | (6,284) | |||||||||||||||||
| MSR - Collection of expected cash flows - pay offs | (17,446) | (17,017) | (10,776) | |||||||||||||||||
| Servicing income | 41,428 | 42,624 | 43,563 | |||||||||||||||||
| Other revenue | (613) | (97) | 384 | |||||||||||||||||
| Total operational mortgage banking revenue | $ | 92,730 | $ | 98,001 | $ | 96,528 | ||||||||||||||
| Fair Value: | ||||||||||||||||||||
| MSR - changes in fair value model assumptions | $ | (11,093) | $ | 4,389 | $ | (19,149) | ||||||||||||||
| Gain (loss) on derivative contract held as an economic hedge, net | 5,272 | (7,909) | 1,280 | |||||||||||||||||
| Changes in FV on early buy-out loans guaranteed by US Govt (HFS) | 3,866 | (1,268) | 4,414 | |||||||||||||||||
| Total fair value mortgage banking revenue | $ | (1,955) | $ | (4,788) | $ | (13,455) | ||||||||||||||
| Total mortgage banking revenue | $ | 90,775 | $ | 93,213 | $ | 83,073 | ||||||||||||||
63 | ||||||||
64 | ||||||||
| Years ended December 31, | 2025 compared to 2024 | 2024 compared to 2023 | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | 2023 | $ Change | % Change | $ Change | % Change | |||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits: | ||||||||||||||||||||||||||||||||||||||||||||
| Salaries | $ | 496,570 | $ | 465,972 | $ | 438,812 | $ | 30,598 | 7 | % | $ | 27,160 | 6 | % | ||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 221,768 | 215,519 | 182,101 | 6,249 | 3 | 33,418 | 18 | |||||||||||||||||||||||||||||||||||||
| Benefits | 154,954 | 135,617 | 127,100 | 19,337 | 14 | 8,517 | 7 | |||||||||||||||||||||||||||||||||||||
Total salaries and employee benefits | $ | 873,292 | $ | 817,108 | $ | 748,013 | $ | 56,184 | 7 | % | $ | 69,095 | 9 | % | ||||||||||||||||||||||||||||||
| Software and equipment | 142,362 | 122,794 | 104,632 | 19,568 | 16 | 18,162 | 17 | |||||||||||||||||||||||||||||||||||||
| Operating lease equipment | 42,671 | 42,298 | 42,363 | 373 | 1 | (65) | (0) | |||||||||||||||||||||||||||||||||||||
| Occupancy, net | 81,920 | 79,213 | 77,068 | 2,707 | 3 | 2,145 | 3 | |||||||||||||||||||||||||||||||||||||
| Data processing | 46,522 | 39,736 | 38,800 | 6,786 | 17 | 936 | 2 | |||||||||||||||||||||||||||||||||||||
| Advertising and marketing | 63,852 | 61,812 | 65,075 | 2,040 | 3 | (3,263) | (5) | |||||||||||||||||||||||||||||||||||||
| Professional fees | 34,032 | 40,637 | 34,758 | (6,605) | (16) | 5,879 | 17 | |||||||||||||||||||||||||||||||||||||
| Amortization of other acquisition-related intangible assets | 21,393 | 12,095 | 5,498 | 9,298 | 77 | 6,597 | NM | |||||||||||||||||||||||||||||||||||||
| FDIC insurance | 44,376 | 40,962 | 36,728 | 3,414 | 8 | 4,234 | 12 | |||||||||||||||||||||||||||||||||||||
| FDIC insurance - special assessment | (499) | 5,156 | 34,374 | (5,655) | NM | (29,218) | (85) | |||||||||||||||||||||||||||||||||||||
| OREO expenses, net | 3,572 | (408) | (1,528) | 3,980 | NM | 1,120 | (73) | |||||||||||||||||||||||||||||||||||||
| Other: | ||||||||||||||||||||||||||||||||||||||||||||
| Lending expenses, net of deferred origination costs | 23,271 | 21,856 | 21,096 | 1,415 | 6 | 760 | 4 | |||||||||||||||||||||||||||||||||||||
| Travel and entertainment | 25,290 | 23,441 | 21,194 | 1,849 | 8 | 2,247 | 11 | |||||||||||||||||||||||||||||||||||||
| Miscellaneous | 109,978 | 96,024 | 84,428 | 13,954 | 15 | 11,596 | 14 | |||||||||||||||||||||||||||||||||||||
| Total other | $ | 158,539 | $ | 141,321 | $ | 126,718 | $ | 17,218 | 12 | % | $ | 14,603 | 12 | % | ||||||||||||||||||||||||||||||
| Total Non-Interest Expense | $ | 1,512,032 | $ | 1,402,724 | $ | 1,312,499 | $ | 109,308 | 8 | % | $ | 90,225 | 7 | % | ||||||||||||||||||||||||||||||
65 | ||||||||
66 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Balance | Percent | Balance | Percent | Balance | Percent | ||||||||||||||||||||||||||||||||
| Mortgage loans held-for-sale | $ | 312,718 | 0 | % | $ | 348,278 | 1 | % | $ | 294,421 | 1 | % | ||||||||||||||||||||||||||
| Loans: | ||||||||||||||||||||||||||||||||||||||
| Commercial | 16,006,489 | 25 | 14,075,830 | 25 | 12,478,768 | 25 | ||||||||||||||||||||||||||||||||
| Commercial real estate | 13,319,196 | 21 | 12,180,253 | 22 | 10,631,288 | 21 | ||||||||||||||||||||||||||||||||
| Home equity | 467,143 | 1 | 384,095 | 1 | 337,836 | 1 | ||||||||||||||||||||||||||||||||
| Residential real estate | 3,841,570 | 6 | 3,044,847 | 5 | 2,497,553 | 5 | ||||||||||||||||||||||||||||||||
| Premium finance receivables—property & casualty | 7,923,289 | 13 | 7,048,040 | 13 | 6,301,717 | 13 | ||||||||||||||||||||||||||||||||
| Premium finance receivables—life insurance | 8,563,975 | 14 | 7,944,205 | 14 | 7,993,787 | 15 | ||||||||||||||||||||||||||||||||
| Other loans | 130,534 | 0 | 88,175 | 0 | 83,523 | 0 | ||||||||||||||||||||||||||||||||
Total loans, net of unearned income (1) | $ | 50,252,196 | 80 | % | $ | 44,765,445 | 80 | % | $ | 40,324,472 | 80 | % | ||||||||||||||||||||||||||
Liquidity management assets (2) | 12,691,373 | 20 | 10,761,682 | 19 | 9,546,195 | 19 | ||||||||||||||||||||||||||||||||
Other earning assets (3) | 3,240 | 0 | 17,113 | 0 | 17,129 | 0 | ||||||||||||||||||||||||||||||||
| Total average earning assets | $ | 63,259,527 | 100 | % | $ | 55,892,518 | 100 | % | $ | 50,182,217 | 100 | % | ||||||||||||||||||||||||||
| Total average assets | $ | 66,954,172 | $ | 59,416,909 | $ | 53,529,506 | ||||||||||||||||||||||||||||||||
| Total average earning assets to total average assets | 94 | % | 94 | % | 94 | % | ||||||||||||||||||||||||||||||||
67 | ||||||||
68 | ||||||||
(In thousands) | 2025 | 2024 | ||||||||||||||||||||||||
| Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||
| U.S. Treasury | $ | 6,999 | $ | 7,035 | $ | 37,858 | $ | 37,907 | ||||||||||||||||||
| U.S. government agencies | 50,000 | 47,471 | 50,000 | 44,945 | ||||||||||||||||||||||
| Municipal | 162,373 | 162,166 | 188,405 | 184,593 | ||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||
| Financial issuers | 79,000 | 76,296 | 83,997 | 80,169 | ||||||||||||||||||||||
| Other | 1,000 | 999 | 1,000 | 993 | ||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||
| Residential mortgage-backed securities | 5,533,710 | 5,156,683 | 4,106,641 | 3,553,638 | ||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | 280,969 | 276,553 | 19,064 | 18,332 | ||||||||||||||||||||||
| Collateralized mortgage obligations | 521,430 | 509,060 | 238,574 | 220,905 | ||||||||||||||||||||||
| Total available-for-sale securities | $ | 6,635,481 | $ | 6,236,263 | $ | 4,725,539 | $ | 4,141,482 | ||||||||||||||||||
| Held-to-maturity securities | ||||||||||||||||||||||||||
| U.S. government agencies | $ | 313,541 | $ | 256,272 | $ | 313,539 | $ | 244,412 | ||||||||||||||||||
| Municipal | 144,192 | 142,631 | 161,016 | 155,969 | ||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||
| Residential mortgage-backed securities | 2,667,371 | 2,183,750 | 2,864,927 | 2,259,913 | ||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | 6,293 | 6,273 | 6,364 | 6,112 | ||||||||||||||||||||||
| Collateralized mortgage obligations | 177,671 | 161,518 | 211,023 | 189,155 | ||||||||||||||||||||||
| Corporate notes | 35,097 | 34,703 | 56,851 | 54,989 | ||||||||||||||||||||||
| Total held-to-maturity securities | $ | 3,344,165 | $ | 2,785,147 | $ | 3,613,720 | $ | 2,910,550 | ||||||||||||||||||
| Less: Allowance for credit losses | (260) | (457) | ||||||||||||||||||||||||
| Held-to-maturity securities, net of allowance for credit losses | $ | 3,343,905 | $ | 3,613,263 | ||||||||||||||||||||||
| Equity securities with readily determinable fair value | $ | 61,211 | $ | 63,770 | $ | 220,758 | $ | 215,412 | ||||||||||||||||||
69 | ||||||||
(In thousands) | Within 1 year | From 1 to 5 years | From 5 to 10 years | After 10 years | Mortgage- backed | Equity Securities | Total | |||||||||||||||||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | 7,035 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 7,035 | ||||||||||||||||||||||||||||||
| U.S. government agencies | — | — | 39,369 | 8,102 | — | — | 47,471 | |||||||||||||||||||||||||||||||||||||
| Municipal | 39,881 | 71,443 | 33,687 | 17,155 | — | — | 162,166 | |||||||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||||||||
| Financial issuers | — | 69,680 | 6,616 | — | — | — | 76,296 | |||||||||||||||||||||||||||||||||||||
| Other | 999 | — | — | — | — | — | 999 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | — | — | — | — | 5,156,683 | — | 5,156,683 | |||||||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | — | — | — | — | 276,553 | — | 276,553 | |||||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | — | — | — | — | 509,060 | — | 509,060 | |||||||||||||||||||||||||||||||||||||
| Total available-for-sale securities | $ | 47,915 | $ | 141,123 | $ | 79,672 | $ | 25,257 | $ | 5,942,296 | $ | — | $ | 6,236,263 | ||||||||||||||||||||||||||||||
| Held-to-maturity securities | ||||||||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | 703 | $ | 1,008 | $ | 25,000 | $ | 286,830 | $ | — | $ | — | $ | 313,541 | ||||||||||||||||||||||||||||||
| Municipal | 16,203 | 75,444 | 37,222 | 15,323 | — | — | 144,192 | |||||||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||||||||
| Financial issuers | 30,124 | — | 4,973 | — | — | — | 35,097 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | — | — | — | — | 2,667,371 | — | 2,667,371 | |||||||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | — | — | — | — | 6,293 | — | 6,293 | |||||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | — | — | — | — | 177,671 | — | 177,671 | |||||||||||||||||||||||||||||||||||||
| Total held-to-maturity securities | $ | 47,030 | $ | 76,452 | $ | 67,195 | $ | 302,153 | $ | 2,851,335 | $ | — | $ | 3,344,165 | ||||||||||||||||||||||||||||||
| Less: Allowance for credit losses | (260) | |||||||||||||||||||||||||||||||||||||||||||
| Held-to-maturity securities, net of allowance for credit losses | $ | 3,343,905 | ||||||||||||||||||||||||||||||||||||||||||
| Equity securities with readily determinable fair value | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 63,770 | $ | 63,770 | ||||||||||||||||||||||||||||||
70 | ||||||||
| Within 1 year | From 1 to 5 years | From 5 to 10 years | After 10 years | Mortgage- backed | Equity Securities | Total | ||||||||||||||||||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||||||||||||||||||||
| U.S. Treasury | 4.45 | % | — | % | — | % | — | % | — | % | — | % | 4.45 | % | ||||||||||||||||||||||||||||||
| U.S. government agencies | — | — | 4.00 | 2.87 | — | — | 3.81 | |||||||||||||||||||||||||||||||||||||
| Municipal | 3.98 | 4.30 | 4.75 | 4.84 | — | — | 4.37 | |||||||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||||||||
| Financial issuers | — | 4.12 | 3.14 | — | — | — | 4.04 | |||||||||||||||||||||||||||||||||||||
| Other | 4.40 | — | — | — | — | — | 4.40 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | — | — | — | — | 4.05 | — | 4.05 | |||||||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | — | — | — | — | 6.37 | — | 6.37 | |||||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | — | — | — | — | 4.84 | — | 4.84 | |||||||||||||||||||||||||||||||||||||
| Total available-for-sale securities | 4.06 | % | 4.21 | % | 4.25 | % | 4.21 | % | 4.23 | % | — | % | 4.23 | % | ||||||||||||||||||||||||||||||
| Held-to-maturity securities | ||||||||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | 2.43 | % | 2.62 | % | 2.68 | % | 2.86 | % | — | % | — | % | 2.84 | % | ||||||||||||||||||||||||||||||
| Municipal | 4.11 | 4.26 | 4.30 | 4.31 | — | — | 4.26 | |||||||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||||||||
| Financial issuers | 1.74 | — | 5.10 | — | — | — | 2.22 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | — | — | — | — | 2.42 | — | 2.42 | |||||||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | — | — | — | — | 3.96 | — | 3.96 | |||||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | — | — | — | — | 3.61 | — | 3.61 | |||||||||||||||||||||||||||||||||||||
| Total held-to-maturity securities | 2.57 | % | 4.23 | % | 3.76 | % | 2.93 | % | 2.50 | % | — | % | 2.61 | % | ||||||||||||||||||||||||||||||
| Equity securities with readily determinable fair value | — | % | — | % | — | % | — | % | — | % | 0.78 | % | 0.78 | % | ||||||||||||||||||||||||||||||
71 | ||||||||
| As of December 31, 2025 | As of December 31, 2024 | |||||||||||||||||||||||||||||||||||||
| Balance | % of Total Balance | Allowance For Credit Losses Allocation | Balance | % of Total Balance | Allowance For Credit Losses Allocation | |||||||||||||||||||||||||||||||||
| Commercial: | ||||||||||||||||||||||||||||||||||||||
| Commercial, industrial and other | $ | 17,044,686 | 55.0 | % | $ | 178,545 | $ | 15,574,551 | 54.7 | % | $ | 175,837 | ||||||||||||||||||||||||||
| Commercial Real Estate: | ||||||||||||||||||||||||||||||||||||||
| Construction and development | $ | 2,409,582 | 7.8 | % | $ | 93,106 | $ | 2,434,081 | 8.5 | % | $ | 87,236 | ||||||||||||||||||||||||||
| Non-construction | 11,531,154 | 37.2 | 153,827 | 10,469,863 | 36.8 | 135,620 | ||||||||||||||||||||||||||||||||
| Total commercial real estate | $ | 13,940,736 | 45.0 | % | $ | 246,933 | $ | 12,903,944 | 45.3 | % | $ | 222,856 | ||||||||||||||||||||||||||
| Total commercial and commercial real estate | $ | 30,985,422 | 100.0 | % | $ | 425,478 | $ | 28,478,495 | 100.0 | % | $ | 398,693 | ||||||||||||||||||||||||||
| Commercial real estate—collateral location by state: | ||||||||||||||||||||||||||||||||||||||
| Illinois | $ | 7,136,432 | 51.2 | % | $ | 7,043,810 | 54.6 | % | ||||||||||||||||||||||||||||||
| Michigan | 892,121 | 6.4 | 877,058 | 6.8 | ||||||||||||||||||||||||||||||||||
| Wisconsin | 877,352 | 6.3 | 918,976 | 7.1 | ||||||||||||||||||||||||||||||||||
| Total primary markets | $ | 8,905,905 | 63.9 | % | $ | 8,839,844 | 68.5 | % | ||||||||||||||||||||||||||||||
| Florida | 507,216 | 3.6 | % | $ | 434,078 | 3.4 | % | |||||||||||||||||||||||||||||||
| Indiana | 497,943 | 3.6 | % | 447,768 | 3.5 | % | ||||||||||||||||||||||||||||||||
| Texas | 386,111 | 2.8 | % | 327,660 | 2.5 | % | ||||||||||||||||||||||||||||||||
| Georgia | 345,946 | 2.5 | % | 233,774 | 1.8 | % | ||||||||||||||||||||||||||||||||
| California | 328,781 | 2.4 | % | 260,037 | 2.0 | % | ||||||||||||||||||||||||||||||||
| Colorado | 294,182 | 2.1 | % | 249,070 | 1.9 | % | ||||||||||||||||||||||||||||||||
| Arizona | 279,448 | 2.0 | % | 217,595 | 1.7 | % | ||||||||||||||||||||||||||||||||
| Tennessee | 265,602 | 1.9 | % | 290,391 | 2.3 | % | ||||||||||||||||||||||||||||||||
| Ohio | 241,100 | 1.7 | % | 235,257 | 1.8 | % | ||||||||||||||||||||||||||||||||
| Other | 1,888,502 | 13.5 | % | 1,368,470 | 10.6 | % | ||||||||||||||||||||||||||||||||
| Total | $ | 13,940,736 | 100.0 | % | $ | 12,903,944 | 100.0 | % | ||||||||||||||||||||||||||||||
72 | ||||||||
(In thousands) | December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||||
| Commercial Real Estate: | Owner Occupied | Non-Owner Occupied | Total | % of Total | Average Size of Loan | Owner Occupied | Non-Owner Occupied | Total | % of Total | Average Size of Loan | ||||||||||||||||||||||||||||
| Residential construction | $ | 1,626 | $ | 53,127 | $ | 54,753 | 1 | % | $ | 526 | $ | 2,252 | $ | 46,365 | $ | 48,617 | 0 | % | $ | 423 | ||||||||||||||||||
| Commercial construction | 196,280 | 1,816,964 | 2,013,244 | 14 | 5,199 | 197,184 | 1,868,591 | 2,065,775 | 16 | 4,661 | ||||||||||||||||||||||||||||
| Land | 7,047 | 334,538 | 341,585 | 2 | 2,009 | 5,554 | 314,135 | 319,689 | 2 | 1,827 | ||||||||||||||||||||||||||||
| Office | 283,658 | 1,404,956 | 1,688,614 | 12 | 1,563 | 286,041 | 1,370,068 | 1,656,109 | 13 | 1,489 | ||||||||||||||||||||||||||||
| Industrial | 988,581 | 2,179,187 | 3,167,768 | 23 | 2,079 | 956,972 | 1,671,604 | 2,628,576 | 21 | 1,786 | ||||||||||||||||||||||||||||
| Retail | 343,728 | 1,092,524 | 1,436,252 | 10 | 1,239 | 349,183 | 1,025,472 | 1,374,655 | 11 | 1,156 | ||||||||||||||||||||||||||||
| Multi-family | 91,937 | 3,353,570 | 3,445,507 | 25 | 1,509 | 95,855 | 3,029,650 | 3,125,505 | 24 | 1,315 | ||||||||||||||||||||||||||||
| Mixed use and other | 605,609 | 1,187,404 | 1,793,013 | 13 | 1,291 | 586,970 | 1,098,048 | 1,685,018 | 13 | 1,210 | ||||||||||||||||||||||||||||
| Total commercial real estate | $ | 2,518,466 | $ | 11,422,270 | $ | 13,940,736 | 100 | % | $ | 1,722 | $ | 2,480,011 | $ | 10,423,933 | $ | 12,903,944 | 100 | % | $ | 1,559 | ||||||||||||||||||
73 | ||||||||
74 | ||||||||
| (In thousands) | One year or less | From one to five years | From five to fifteen years | After fifteen years | Total | ||||||||||||||||||||||||
| Commercial | |||||||||||||||||||||||||||||
| Fixed rate | $ | 560,803 | $ | 3,901,475 | $ | 2,191,712 | $ | 18,490 | $ | 6,672,480 | |||||||||||||||||||
| Variable rate | 10,371,538 | 668 | — | — | 10,372,206 | ||||||||||||||||||||||||
| Total commercial | $ | 10,932,341 | $ | 3,902,143 | $ | 2,191,712 | $ | 18,490 | $ | 17,044,686 | |||||||||||||||||||
| Commercial real estate | |||||||||||||||||||||||||||||
| Fixed rate | $ | 836,428 | $ | 2,659,163 | $ | 364,215 | $ | 76,892 | $ | 3,936,698 | |||||||||||||||||||
| Variable rate | 9,992,879 | 11,094 | 65 | — | 10,004,038 | ||||||||||||||||||||||||
| Total commercial real estate | $ | 10,829,307 | $ | 2,670,257 | $ | 364,280 | $ | 76,892 | $ | 13,940,736 | |||||||||||||||||||
| Home equity | |||||||||||||||||||||||||||||
| Fixed rate | $ | 9,300 | $ | 685 | $ | — | $ | 11 | $ | 9,996 | |||||||||||||||||||
| Variable rate | 470,529 | — | — | — | 470,529 | ||||||||||||||||||||||||
| Total home equity | $ | 479,829 | $ | 685 | $ | — | $ | 11 | $ | 480,525 | |||||||||||||||||||
| Residential real estate | |||||||||||||||||||||||||||||
| Fixed rate | $ | 18,384 | $ | 4,719 | $ | 67,647 | $ | 1,057,910 | $ | 1,148,660 | |||||||||||||||||||
| Variable rate | 110,906 | 747,277 | 2,310,389 | — | 3,168,572 | ||||||||||||||||||||||||
| Total residential real estate | $ | 129,290 | $ | 751,996 | $ | 2,378,036 | $ | 1,057,910 | $ | 4,317,232 | |||||||||||||||||||
| Premium finance receivables - property & casualty | |||||||||||||||||||||||||||||
| Fixed rate | $ | 8,067,517 | $ | 115,899 | $ | — | $ | — | $ | 8,183,416 | |||||||||||||||||||
| Variable rate | — | — | — | — | — | ||||||||||||||||||||||||
| Total premium finance receivables - property & casualty | $ | 8,067,517 | $ | 115,899 | $ | — | $ | — | $ | 8,183,416 | |||||||||||||||||||
| Premium finance receivables - life insurance | |||||||||||||||||||||||||||||
| Fixed rate | $ | 163,653 | $ | 116,520 | $ | — | $ | — | $ | 280,173 | |||||||||||||||||||
| Variable rate | 8,743,469 | — | — | — | 8,743,469 | ||||||||||||||||||||||||
| Total premium finance receivables - life insurance | $ | 8,907,122 | $ | 116,520 | $ | — | $ | — | $ | 9,023,642 | |||||||||||||||||||
| Consumer and other | |||||||||||||||||||||||||||||
| Fixed rate | $ | 27,834 | $ | 8,571 | $ | 934 | $ | 849 | $ | 38,188 | |||||||||||||||||||
| Variable rate | 76,676 | — | — | — | 76,676 | ||||||||||||||||||||||||
| Total consumer and other | $ | 104,510 | $ | 8,571 | $ | 934 | $ | 849 | $ | 114,864 | |||||||||||||||||||
| Total per category | |||||||||||||||||||||||||||||
| Fixed rate | $ | 9,683,919 | $ | 6,807,032 | $ | 2,624,508 | $ | 1,154,152 | $ | 20,269,611 | |||||||||||||||||||
| Variable rate | 29,765,997 | 759,039 | 2,310,454 | — | 32,835,490 | ||||||||||||||||||||||||
| Total loans, net of unearned income | $ | 39,449,916 | $ | 7,566,071 | $ | 4,934,962 | $ | 1,154,152 | $ | 53,105,101 | |||||||||||||||||||
Less: Existing cash flow hedging derivatives (1) | (6,150,000) | ||||||||||||||||||||||||||||
| Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity | $ | 33,299,916 | |||||||||||||||||||||||||||
| Variable Rate Loan Pricing by Index: | |||||||||||||||||||||||||||||
SOFR tenors (2) | $ | 21,157,533 | |||||||||||||||||||||||||||
12- month CMT (3) | 7,652,077 | ||||||||||||||||||||||||||||
| Prime | 3,021,831 | ||||||||||||||||||||||||||||
| Fed Funds | 684,626 | ||||||||||||||||||||||||||||
| Other U.S. Treasury tenors | 182,079 | ||||||||||||||||||||||||||||
| Other | 137,344 | ||||||||||||||||||||||||||||
| Total variable rate | $ | 32,835,490 | |||||||||||||||||||||||||||
75 | ||||||||
| 1 Rating | — | Minimal Risk (Loss Potential — none or extremely low) (Superior asset quality, excellent liquidity, minimal leverage) | ||||||||||||
| 2 Rating | — | Modest Risk (Loss Potential demonstrably low) (Very good asset quality and liquidity, strong leverage capacity) | ||||||||||||
| 3 Rating | — | Average Risk (Loss Potential low but no longer refutable) (Mostly satisfactory asset quality and liquidity, good leverage capacity) | ||||||||||||
| 4 Rating | — | Above Average Risk (Loss Potential variable, but some potential for deterioration) (Acceptable asset quality, little excess liquidity, modest leverage capacity) | ||||||||||||
| 5 Rating | — | Management Attention Risk (Loss Potential moderate if corrective action not taken) (Generally acceptable asset quality, somewhat strained liquidity, minimal leverage capacity, minimum for most commercial real estate construction loans) | ||||||||||||
| 6 Rating | — | Special Mention (Loss Potential moderate if corrective action not taken) (Assets in this category are currently protected, potentially weak, but not to the point of substandard classification) | ||||||||||||
| 7 Rating | — | Substandard Accrual (Loss Potential distinct possibility that the bank may sustain some loss, but no discernible impairment) (Must have well defined weaknesses that jeopardize the liquidation of the debt) | ||||||||||||
| 8 Rating | — | Substandard Non-accrual (Loss Potential well documented probability of loss, including potential impairment) (Must have well defined weaknesses that jeopardize the liquidation of the debt) | ||||||||||||
| 9 Rating | — | Doubtful (Loss Potential extremely high) (These assets have all the weaknesses in those classified “substandard” with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly improbable) | ||||||||||||
| 10 Rating | — | Loss (fully charged off) (Loans in this category are considered fully uncollectible.) | ||||||||||||
76 | ||||||||
77 | ||||||||
| (Dollars in thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | |||||||||||||||||||||||||||
Loans past due greater than 90 days and still accruing(2): | ||||||||||||||||||||||||||||||||
| Commercial | $ | — | $ | 104 | $ | 98 | $ | 462 | $ | 15 | ||||||||||||||||||||||
| Commercial real estate | — | — | — | — | — | |||||||||||||||||||||||||||
| Home equity | — | — | — | — | — | |||||||||||||||||||||||||||
| Residential real estate | — | — | — | — | — | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 19,115 | 16,031 | 20,135 | 15,841 | 7,210 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | — | — | — | 17,245 | 7 | |||||||||||||||||||||||||||
| Consumer and other | 42 | 47 | 54 | 49 | 137 | |||||||||||||||||||||||||||
| Total loans past due greater than 90 days and still accruing | $ | 19,157 | $ | 16,182 | $ | 20,287 | $ | 33,597 | $ | 7,369 | ||||||||||||||||||||||
Non-accrual loans(3): | ||||||||||||||||||||||||||||||||
| Commercial | $ | 78,059 | $ | 73,490 | $ | 38,940 | $ | 35,579 | $ | 20,399 | ||||||||||||||||||||||
| Commercial real estate | 25,147 | 21,042 | 35,459 | 6,387 | 21,746 | |||||||||||||||||||||||||||
| Home equity | 1,221 | 1,117 | 1,341 | 1,487 | 2,574 | |||||||||||||||||||||||||||
| Residential real estate | 32,862 | 23,762 | 15,391 | 10,171 | 16,440 | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 29,354 | 28,797 | 27,590 | 13,470 | 5,433 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | — | 6,431 | — | — | — | |||||||||||||||||||||||||||
| Consumer and other | 8 | 2 | 22 | 6 | 477 | |||||||||||||||||||||||||||
| Total non-accrual loans | $ | 166,651 | $ | 154,641 | $ | 118,743 | $ | 67,100 | $ | 67,069 | ||||||||||||||||||||||
| Total non-performing loans: | ||||||||||||||||||||||||||||||||
| Commercial | $ | 78,059 | $ | 73,594 | $ | 39,038 | $ | 36,041 | $ | 20,414 | ||||||||||||||||||||||
| Commercial real estate | 25,147 | 21,042 | 35,459 | 6,387 | 21,746 | |||||||||||||||||||||||||||
| Home equity | 1,221 | 1,117 | 1,341 | 1,487 | 2,574 | |||||||||||||||||||||||||||
| Residential real estate | 32,862 | 23,762 | 15,391 | 10,171 | 16,440 | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 48,469 | 44,828 | 47,725 | 29,311 | 12,643 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | — | 6,431 | — | 17,245 | 7 | |||||||||||||||||||||||||||
| Consumer and other | 50 | 49 | 76 | 55 | 614 | |||||||||||||||||||||||||||
| Total non-performing loans | $ | 185,808 | $ | 170,823 | $ | 139,030 | $ | 100,697 | $ | 74,438 | ||||||||||||||||||||||
| Other real estate owned | 20,839 | 23,116 | 13,309 | 8,589 | 1,959 | |||||||||||||||||||||||||||
| Other real estate owned – from acquisitions | — | — | — | 1,311 | 2,312 | |||||||||||||||||||||||||||
| Total non-performing assets | $ | 206,647 | $ | 193,939 | $ | 152,339 | $ | 110,597 | $ | 78,709 | ||||||||||||||||||||||
| Accruing TDRs not included within non-performing assets | N/A | N/A | N/A | $ | 36,620 | $ | 37,486 | |||||||||||||||||||||||||
Total non-performing loans by category as a percent of its own respective category’s period-end balance: | ||||||||||||||||||||||||||||||||
| Commercial | 0.46 | % | 0.47 | % | 0.30 | % | 0.29 | % | 0.17 | % | ||||||||||||||||||||||
| Commercial real estate | 0.18 | 0.16 | 0.31 | 0.06 | 0.24 | |||||||||||||||||||||||||||
| Home equity | 0.25 | 0.25 | 0.39 | 0.45 | 0.77 | |||||||||||||||||||||||||||
| Residential real estate | 0.76 | 0.66 | 0.56 | 0.43 | 1.00 | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 0.59 | 0.62 | 0.69 | 0.50 | 0.26 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | — | 0.08 | — | 0.21 | 0.00 | |||||||||||||||||||||||||||
| Consumer and other | 0.04 | 0.05 | 0.13 | 0.11 | 2.54 | |||||||||||||||||||||||||||
| Total non-performing loans | 0.35 | % | 0.36 | % | 0.33 | % | 0.26 | % | 0.21 | % | ||||||||||||||||||||||
Total non-performing assets as a percentage of total assets | 0.29 | % | 0.30 | % | 0.27 | % | 0.21 | % | 0.16 | % | ||||||||||||||||||||||
| Total non-accrual loans as a percentage of total loans | 0.31 | % | 0.32 | % | 0.28 | % | 0.17 | % | 0.19 | % | ||||||||||||||||||||||
| Allowance for loan and unfunded lending-related commitment losses as a percentage of nonaccrual loans | 276.15 | % | 282.33 | % | 359.82 | % | 532.71 | % | 446.78 | % | ||||||||||||||||||||||
78 | ||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Balance at beginning of period | $ | 170,823 | $ | 139,030 | ||||||||||
| Additions from becoming non-performing in the respective period | 157,375 | 150,784 | ||||||||||||
| Additions from assets acquired in the respective period | — | 189 | ||||||||||||
| Return to performing status | (14,439) | (2,872) | ||||||||||||
| Payments received | (63,353) | (41,060) | ||||||||||||
| Transfers to OREO or other assets | (2,881) | (29,903) | ||||||||||||
| Charge-offs, net | (58,858) | (49,306) | ||||||||||||
| Net change for premium finance receivables | (2,859) | 3,961 | ||||||||||||
| Balance at period end | $ | 185,808 | $ | 170,823 | ||||||||||
79 | ||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Amount | % of Loan Type to Total Loans | Amount | % of Loan Type to Total Loans | Amount | % of Loan Type to Total Loans | Amount | % of Loan Type to Total Loans | Amount | % of Loan Type to Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses allocation: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial | $ | 178,545 | 32 | % | $ | 175,837 | 32 | % | $ | 169,604 | 30 | % | $ | 142,769 | 32 | % | $ | 119,307 | 34 | % | ||||||||||||||||||||||||||||||||||||||||||
| Commercial real-estate | 246,933 | 27 | 222,856 | 27 | 223,853 | 27 | 184,352 | 25 | 144,583 | 26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Home equity | 10,402 | 1 | 8,943 | 1 | 7,116 | 1 | 7,573 | 1 | 10,699 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential real-estate | 12,519 | 8 | 10,335 | 8 | 13,133 | 7 | 11,585 | 6 | 8,782 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 10,226 | 15 | 17,111 | 15 | 12,384 | 16 | 9,967 | 15 | 15,246 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premium finance receivables – life insurance | 785 | 17 | 709 | 17 | 685 | 19 | 704 | 21 | 613 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer and other | 795 | 0 | 812 | 0 | 490 | 0 | 498 | 0 | 423 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total allowance for credit losses | $ | 460,205 | 100 | % | $ | 436,603 | 100 | % | $ | 427,265 | 100 | % | $ | 357,448 | 100 | % | $ | 299,653 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||
| Allowance category as a percent of total allowance for credit losses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial | 39 | % | 41 | % | 40 | % | 40 | % | 40 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial real-estate | 54 | 51 | 52 | 52 | 48 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Home equity | 2 | 2 | 2 | 2 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential real-estate | 3 | 2 | 3 | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premium finance receivables—property & casualty | 2 | 4 | 3 | 3 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premium finance receivables—life insurance | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer and other | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total allowance for credit losses | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
80 | ||||||||
| (Dollars in thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | |||||||||||||||||||||||||||
| Allowance for credit losses at beginning of year | $ | 436,603 | $ | 427,265 | $ | 357,448 | $ | 299,653 | $ | 379,910 | ||||||||||||||||||||||
| Cumulative effect adjustment from the adoption of ASU 2016-13 | — | — | 741 | — | — | |||||||||||||||||||||||||||
| Provision for credit losses - Other | 95,750 | 85,390 | 114,531 | 78,179 | (59,280) | |||||||||||||||||||||||||||
| Provision for credit losses - Day 1 on non-PCD assets acquired during the period | — | 15,547 | — | — | — | |||||||||||||||||||||||||||
| Initial allowance for credit losses recognized on PCD assets acquired during the period | — | 3,004 | — | — | 470 | |||||||||||||||||||||||||||
| Other adjustments | 167 | (207) | 47 | (108) | 3 | |||||||||||||||||||||||||||
| Charge-offs: | ||||||||||||||||||||||||||||||||
| Commercial | 50,361 | 48,864 | 15,713 | 14,141 | 20,801 | |||||||||||||||||||||||||||
| Commercial real estate | 11,934 | 22,127 | 15,228 | 1,379 | 3,293 | |||||||||||||||||||||||||||
| Home equity | 138 | 74 | 227 | 432 | 336 | |||||||||||||||||||||||||||
| Residential real estate | 26 | 175 | 192 | 471 | 1,082 | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 28,674 | 37,515 | 21,684 | 14,240 | 9,020 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | 30 | 4 | 173 | 35 | — | |||||||||||||||||||||||||||
| Consumer and other | 703 | 587 | 595 | 1,081 | 487 | |||||||||||||||||||||||||||
| Total charge-offs | $ | 91,866 | $ | 109,346 | $ | 53,812 | $ | 31,779 | $ | 35,019 | ||||||||||||||||||||||
| Recoveries: | ||||||||||||||||||||||||||||||||
| Commercial | 5,080 | 2,853 | 2,651 | 4,748 | 2,559 | |||||||||||||||||||||||||||
| Commercial real estate | 267 | 323 | 460 | 701 | 1,304 | |||||||||||||||||||||||||||
| Home equity | 378 | 359 | 139 | 319 | 1,203 | |||||||||||||||||||||||||||
| Residential real estate | 140 | 15 | 21 | 77 | 330 | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 13,556 | 11,259 | 4,930 | 5,522 | 7,989 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | — | 54 | 16 | — | — | |||||||||||||||||||||||||||
| Consumer and other | 130 | 87 | 93 | 136 | 184 | |||||||||||||||||||||||||||
| Total recoveries | $ | 19,551 | $ | 14,950 | $ | 8,310 | $ | 11,503 | $ | 13,569 | ||||||||||||||||||||||
| Net charge-offs | $ | (72,315) | $ | (94,396) | $ | (45,502) | $ | (20,276) | $ | (21,450) | ||||||||||||||||||||||
| Allowance for credit losses at year end | $ | 460,205 | $ | 436,603 | $ | 427,265 | $ | 357,448 | $ | 299,653 | ||||||||||||||||||||||
| Net charge-offs (recoveries) by category as a percentage of its own respective category’s average: | ||||||||||||||||||||||||||||||||
| Commercial | 0.28 | % | 0.33 | % | 0.10 | % | 0.08 | % | 0.16 | % | ||||||||||||||||||||||
| Commercial real estate | 0.09 | 0.18 | 0.14 | 0.01 | 0.02 | |||||||||||||||||||||||||||
| Home equity | (0.05) | (0.07) | 0.03 | 0.03 | (0.23) | |||||||||||||||||||||||||||
| Residential real estate | (0.00) | 0.01 | 0.01 | 0.02 | 0.05 | |||||||||||||||||||||||||||
| Premium finance receivables – property & casualty | 0.19 | 0.37 | 0.27 | 0.16 | 0.02 | |||||||||||||||||||||||||||
| Premium finance receivables – life insurance | 0.00 | (0.00) | 0.00 | 0.00 | — | |||||||||||||||||||||||||||
| Consumer and other | 0.44 | 0.57 | 0.60 | 1.22 | 0.66 | |||||||||||||||||||||||||||
| Total loans, net of unearned income | 0.14 | % | 0.21 | % | 0.11 | % | 0.06 | % | 0.06 | % | ||||||||||||||||||||||
| Year-end total loans | $ | 53,105,101 | $ | 48,055,037 | $ | 42,131,831 | $ | 39,196,485 | $ | 34,789,104 | ||||||||||||||||||||||
| Allowance for loan losses as a percentage of loans at end of year | 0.71 | % | 0.76 | % | 0.82 | % | 0.69 | % | 0.71 | % | ||||||||||||||||||||||
| Allowance for loan and unfunded loan-related commitment losses as a percentage of loans at end of year | 0.87 | 0.91 | 1.01 | 0.91 | 0.86 | |||||||||||||||||||||||||||
81 | ||||||||
82 | ||||||||
83 | ||||||||
| Years Ended | ||||||||||||||
(In thousands) | December 31, | December 31, | ||||||||||||
| 2025 | 2024 | |||||||||||||
| Balance at beginning of period | $ | 23,116 | $ | 13,309 | ||||||||||
| Disposal/resolved | (2,141) | (20,026) | ||||||||||||
| Transfers in at fair value, less costs to sell | 2,532 | 30,040 | ||||||||||||
| Fair value adjustments | (2,668) | (207) | ||||||||||||
| Balance at period end | $ | 20,839 | $ | 23,116 | ||||||||||
| Period End | ||||||||||||||
(In thousands) | December 31, | December 31, | ||||||||||||
| 2025 | 2024 | |||||||||||||
| Residential real estate | $ | — | $ | — | ||||||||||
| Commercial real estate | 20,839 | 23,116 | ||||||||||||
| Total | $ | 20,839 | $ | 23,116 | ||||||||||
84 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Balance | Percent | Balance | Percent | Balance | Percent | ||||||||||||||||||||||||||||||||
| Non-interest bearing deposits | $ | 10,812,877 | 20 | % | $ | 10,212,088 | 22 | % | $ | 11,018,596 | 25 | % | ||||||||||||||||||||||||||
| NOW and interest-bearing demand deposits | 6,323,704 | 12 | 5,360,630 | 11 | 5,626,277 | 13 | ||||||||||||||||||||||||||||||||
| Wealth management deposits | 1,665,152 | 3 | 1,458,404 | 3 | 1,730,523 | 4 | ||||||||||||||||||||||||||||||||
| Money market accounts | 18,927,479 | 35 | 15,946,363 | 33 | 13,665,248 | 32 | ||||||||||||||||||||||||||||||||
| Savings accounts | 6,650,054 | 12 | 6,015,085 | 13 | 5,299,205 | 12 | ||||||||||||||||||||||||||||||||
| Time certificates of deposit | 9,906,063 | 18 | 8,753,848 | 18 | 5,952,537 | 14 | ||||||||||||||||||||||||||||||||
| Total average deposits | $ | 54,285,329 | 100 | % | $ | 47,746,418 | 100 | % | $ | 43,292,386 | 100 | % | ||||||||||||||||||||||||||
| Years Ended December 31, | ||||||||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||||||||
| Average | Percent | Average | Percent | |||||||||||||||||||||||
(Dollars in thousands) | Balance | of Total | Balance | of Total | ||||||||||||||||||||||
| Federal Home Loan Bank advances | $ | 3,164,460 | 74 | % | $ | 3,042,052 | 72 | % | ||||||||||||||||||
| Subordinated notes | 298,441 | 7 | 360,802 | 8 | ||||||||||||||||||||||
| Notes payable | 126,953 | 3 | 160,396 | 4 | ||||||||||||||||||||||
| Short-term borrowings | — | — | 6,207 | 0 | ||||||||||||||||||||||
| Secured borrowings | 401,723 | 9 | 379,194 | 9 | ||||||||||||||||||||||
| Other | 55,861 | 1 | 58,071 | 1 | ||||||||||||||||||||||
| Total other borrowings | 584,537 | 13 | 603,868 | 14 | ||||||||||||||||||||||
| Junior subordinated debentures | 253,566 | 6 | 253,566 | 6 | ||||||||||||||||||||||
| Total other funding sources | $ | 4,301,004 | 100 | % | $ | 4,260,288 | 100 | % | ||||||||||||||||||
85 | ||||||||
86 | ||||||||
| Minimum Ratios | Minimum Ratio + Capital Conservation Buffer (1) | Minimum Well Capitalized Ratios (2) | 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
| Tier 1 Leverage Ratio | 4.0 | % | N/A | N/A | 9.6 | % | 9.4 | % | 9.3 | % | ||||||||||||||||||||||||||||
| Risk-based capital ratios: | ||||||||||||||||||||||||||||||||||||||
| Tier 1 Capital Ratio | 6.0 | 8.50 | 6.0 | 11.0 | 10.7 | 10.3 | ||||||||||||||||||||||||||||||||
| Common Equity Tier 1 Capital Ratio | 4.5 | 7.00 | N/A | 10.3 | 9.9 | 9.4 | ||||||||||||||||||||||||||||||||
| Total Capital Ratio | 8.0 | 10.50 | 10.0 | 12.4 | 12.3 | 12.1 | ||||||||||||||||||||||||||||||||
| Other ratios: | ||||||||||||||||||||||||||||||||||||||
| Total average equity to total average assets | N/A | N/A | N/A | 10.3 | 9.8 | 9.4 | ||||||||||||||||||||||||||||||||
| Dividend payout ratio | N/A | N/A | N/A | 17.5 | 17.5 | 16.7 | ||||||||||||||||||||||||||||||||
87 | ||||||||
| December 31, | ||||||||||||||||||||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | |||||||||||||||||||||||||||
| Total deposits | $ | 57,717,191 | $ | 52,512,349 | $ | 45,397,170 | $ | 42,902,544 | $ | 42,095,585 | ||||||||||||||||||||||
Brokered Deposits (1) | 4,123,822 | 3,598,102 | 4,216,718 | 3,174,093 | 1,591,083 | |||||||||||||||||||||||||||
Brokered deposits as a percentage of total deposits (1) | 7.1 | % | 6.9 | % | 9.3 | % | 7.4 | % | 3.8 | % | ||||||||||||||||||||||
88 | ||||||||
| (In thousands) | One year or less | From one to three years | From three to five years | Over five years | Total | |||||||||||||||||||||||||||
| Commitment type: | ||||||||||||||||||||||||||||||||
| Commercial, commercial real estate and construction | $ | 6,096,180 | $ | 3,988,466 | $ | 1,435,087 | $ | 321,991 | $ | 11,841,724 | ||||||||||||||||||||||
| Residential real estate | 423,608 | — | — | — | 423,608 | |||||||||||||||||||||||||||
| Revolving home equity lines of credit | 1,023,921 | — | — | — | 1,023,921 | |||||||||||||||||||||||||||
| Letters of credit | 411,264 | 49,377 | 59,287 | 235 | 520,163 | |||||||||||||||||||||||||||
| Commitments to sell mortgage loans | 413,183 | — | — | — | 413,183 | |||||||||||||||||||||||||||
89 | ||||||||
90 | ||||||||
| Static Shock Scenarios | +200 Basis Points | +100 Basis Points | -100 Basis Points | -200 Basis Points | ||||||||||||||||||||||
| December 31, 2025 | (1.6) | % | (0.5) | % | (0.5) | % | (0.8) | % | ||||||||||||||||||
| December 31, 2024 | (1.6) | (0.6) | (0.3) | (1.5) | ||||||||||||||||||||||
| Ramp Scenarios | +200 Basis Points | +100 Basis Points | -100 Basis Points | -200 Basis Points | ||||||||||||||||||||||
| December 31, 2025 | (0.0) | % | 0.1 | % | (0.1) | % | (0.2) | % | ||||||||||||||||||
| December 31, 2024 | (0.2) | (0.0) | 0.0 | (0.3) | ||||||||||||||||||||||
91 | ||||||||
92 | ||||||||
93 | ||||||||
| Allowance for credit losses | |||||
| Description of the Matter | At December 31, 2025, the Company’s loan portfolio totaled $53.1 billion, and the associated allowance for credit losses (ACL) was $460.2 million. As more fully described in Notes (1) and (5) to the consolidated financial statements, the ACL represents management’s estimate of expected credit losses over the contractual term of the loan. The ACL is measured on a collective or pooled basis when assets share the same risk characteristics or on an individual basis when assets do not share similar risk characteristics. For assets measured on a collective basis, the Company applies modeling methodologies that utilize the Company’s historical loss experience to estimate lifetime credit loss rates on each pool, including methodologies estimating the probability of default and loss given default on specific segments. The historical credit loss experience utilized in the ACL models is adjusted for the Company’s reasonable and supportable economic forecasts. The modeled results are then adjusted for certain qualitative factors. For assets measured on an individual basis, the Company measures the expected losses primarily based on the estimated collateral value. Auditing management’s estimate of the ACL was especially challenging due to the complexity of the Company’s ACL models, the significant judgment required in establishing management’s reasonable and supportable economic forecasts, and the significant judgment required in developing and applying management’s qualitative factors. | ||||
| How We Addressed the Matter in Our Audit | We obtained an understanding, evaluated the design, and tested the operating effectiveness of internal controls over the ACL process, including, among other things, controls over management’s process for the development, operation and monitoring of the ACL models, assessing and challenging the reasonable and supportable economic forecasts, the development and application of qualitative factors, and verifying the completeness and accuracy of key inputs and assumptions used in the ACL models. To test the Company’s ACL models, we involved our specialists to test a sample of the ACL models by evaluating model methodology, model performance and testing key modeling assumptions. Additionally, we tested the accuracy of data utilized in the models by agreeing key data fields to source documentation and performed targeted re-calculations for a sample of models. To test the reasonable and supportable economic forecasts, our audit procedures included among others, evaluating the basis of the economic forecast factors utilized by management and testing the completeness and accuracy of data used by management to develop the economic forecasts. To test the qualitative factors, among other procedures, we assessed management’s methodology and considered whether relevant risks were reflected in the models and whether qualitative adjustments to the model outputs were appropriate. We tested the completeness, accuracy and relevance of the underlying data used to estimate the qualitative factors. We evaluated whether qualitative factors were reasonable based on changes in economic conditions and the composition of the loan portfolio. In addition, we evaluated the overall ACL and whether the ACL appropriately reflects expected lifetime losses in the loan portfolio as of the consolidated balance sheet date. For example, we compared the overall ACL amount to those established by similar banking institutions with similar loan portfolios. | ||||
94 | ||||||||
| December 31, | |||||||||||
| (In thousands, except shares and per share amounts) | 2025 | 2024 | |||||||||
| Assets | |||||||||||
| Cash and due from banks | $ | 467,874 | $ | 452,017 | |||||||
| Federal funds sold and securities purchased under resale agreements | 64 | 6,519 | |||||||||
| Interest-bearing deposits with banks | 3,180,553 | 4,409,753 | |||||||||
| Available-for-sale securities, at fair value | 6,236,263 | 4,141,482 | |||||||||
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $260 and $457 at December 31, 2025 and December 31, 2024, respectively ($2.8 billion and $2.9 billion fair value at December 31, 2025 and December 31, 2024, respectively) | 3,343,905 | 3,613,263 | |||||||||
| Trading account securities | — | 4,072 | |||||||||
| Equity securities with readily determinable fair value | 63,770 | 215,412 | |||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 291,881 | 281,407 | |||||||||
| Brokerage customer receivables | — | 18,102 | |||||||||
| Mortgage loans held-for-sale, at fair value | 340,745 | 331,261 | |||||||||
| Loans, net of unearned income | 53,105,101 | 48,055,037 | |||||||||
| Allowance for loan losses | (379,283) | (364,017) | |||||||||
| Net loans | 52,725,818 | 47,691,020 | |||||||||
| Premises, software and equipment, net | 781,611 | 779,130 | |||||||||
| Lease investments, net | 360,646 | 278,264 | |||||||||
| Accrued interest receivable and other assets | 1,617,682 | 1,739,334 | |||||||||
| Receivable on unsettled securities sales | 835,275 | — | |||||||||
| Goodwill | 797,960 | 796,942 | |||||||||
| Other acquisition-related intangible assets | 97,999 | 121,690 | |||||||||
| Total assets | $ | 71,142,046 | $ | 64,879,668 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Deposits: | |||||||||||
| Non-interest-bearing | $ | 11,423,701 | $ | 11,410,018 | |||||||
| Interest-bearing | 46,293,490 | 41,102,331 | |||||||||
| Total deposits | 57,717,191 | 52,512,349 | |||||||||
| Federal Home Loan Bank advances | 3,451,309 | 3,151,309 | |||||||||
| Other borrowings | 477,966 | 534,803 | |||||||||
| Subordinated notes | 298,636 | 298,283 | |||||||||
| Junior subordinated debentures | 253,566 | 253,566 | |||||||||
| Accrued interest payable and other liabilities | 1,684,663 | 1,785,061 | |||||||||
| Total liabilities | 63,883,331 | 58,535,371 | |||||||||
| Shareholders’ Equity: | |||||||||||
Preferred stock, no par value; 20,000,000 shares authorized: | |||||||||||
Series D - $25 liquidation value; no shares issued and outstanding at December 31, 2025 and 5,000,000 shares issued and outstanding at December 31, 2024 | — | 125,000 | |||||||||
Series E - $25,000 liquidation value; no shares issued and outstanding at December 31, 2025 and 11,500 shares issued and outstanding at December 31, 2024 | — | 287,500 | |||||||||
Series F - $25,000 liquidation value; 17,000 shares issued and outstanding at December 31, 2025 and no shares issued and outstanding at December 31, 2024 | 425,000 | — | |||||||||
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at December 31, 2025 and December 31, 2024; 67,062,182 shares issued at December 31, 2025 and 66,560,182 shares issued at December 31, 2024 | 67,062 | 66,560 | |||||||||
| Surplus | 2,534,024 | 2,482,561 | |||||||||
Treasury stock, at cost, 87,269 shares at December 31, 2025 and 64,955 shares at December 31, 2024 | (9,156) | (6,153) | |||||||||
| Retained earnings | 4,537,539 | 3,897,164 | |||||||||
| Accumulated other comprehensive loss | (295,754) | (508,335) | |||||||||
| Total shareholders’ equity | 7,258,715 | 6,344,297 | |||||||||
| Total liabilities and shareholders’ equity | $ | 71,142,046 | $ | 64,879,668 | |||||||
95 | ||||||||
| Years Ended December 31, | |||||||||||||||||
(In thousands, except per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Interest income | |||||||||||||||||
| Interest and fees on loans | $ | 3,220,993 | $ | 3,043,354 | $ | 2,540,952 | |||||||||||
| Mortgage loans held-for-sale | 19,482 | 21,436 | 16,791 | ||||||||||||||
| Interest-bearing deposits with banks | 133,265 | 115,253 | 78,978 | ||||||||||||||
| Federal funds sold and securities purchased under resale agreements | 607 | 366 | 1,806 | ||||||||||||||
| Investment securities | 331,956 | 276,115 | 238,587 | ||||||||||||||
| Trading account securities | 11 | 48 | 41 | ||||||||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 21,641 | 20,060 | 14,912 | ||||||||||||||
| Brokerage customer receivables | 78 | 965 | 1,047 | ||||||||||||||
| Total interest income | 3,728,033 | 3,477,597 | 2,893,114 | ||||||||||||||
| Interest expense | |||||||||||||||||
| Interest on deposits | 1,341,727 | 1,343,642 | 906,470 | ||||||||||||||
| Interest on Federal Home Loan Bank advances | 103,580 | 99,149 | 72,286 | ||||||||||||||
| Interest on other borrowings | 26,592 | 34,480 | 35,280 | ||||||||||||||
| Interest on subordinated notes | 14,903 | 18,117 | 22,024 | ||||||||||||||
| Interest on junior subordinated debentures | 17,179 | 19,674 | 19,190 | ||||||||||||||
| Total interest expense | 1,503,981 | 1,515,062 | 1,055,250 | ||||||||||||||
| Net interest income | 2,224,052 | 1,962,535 | 1,837,864 | ||||||||||||||
| Provision for credit losses | 95,553 | 101,047 | 114,390 | ||||||||||||||
| Net interest income after provision for credit losses | 2,128,499 | 1,861,488 | 1,723,474 | ||||||||||||||
| Non-interest income | |||||||||||||||||
| Wealth management | 147,416 | 146,227 | 130,607 | ||||||||||||||
| Mortgage banking | 90,775 | 93,213 | 83,073 | ||||||||||||||
| Service charges on deposit accounts | 79,091 | 65,651 | 55,250 | ||||||||||||||
| Gains (losses) on investment securities, net | 8,323 | (2,602) | 1,525 | ||||||||||||||
| Fees from covered call options | 20,681 | 10,196 | 21,863 | ||||||||||||||
| Trading gains, net | 2 | 504 | 1,142 | ||||||||||||||
| Operating lease income, net | 62,284 | 58,710 | 53,298 | ||||||||||||||
| Other | 93,368 | 116,426 | 87,348 | ||||||||||||||
| Total non-interest income | 501,940 | 488,325 | 434,106 | ||||||||||||||
| Non-interest expense | |||||||||||||||||
| Salaries and employee benefits | 873,292 | 817,108 | 748,013 | ||||||||||||||
| Software and equipment | 142,362 | 122,794 | 104,632 | ||||||||||||||
| Operating lease equipment | 42,671 | 42,298 | 42,363 | ||||||||||||||
| Occupancy, net | 81,920 | 79,213 | 77,068 | ||||||||||||||
| Data processing | 46,522 | 39,736 | 38,800 | ||||||||||||||
| Advertising and marketing | 63,852 | 61,812 | 65,075 | ||||||||||||||
| Professional fees | 34,032 | 40,637 | 34,758 | ||||||||||||||
| Amortization of other acquisition-related intangible assets | 21,393 | 12,095 | 5,498 | ||||||||||||||
| FDIC insurance | 43,877 | 46,118 | 71,102 | ||||||||||||||
| OREO expense, net | 3,572 | (408) | (1,528) | ||||||||||||||
| Other | 158,539 | 141,321 | 126,718 | ||||||||||||||
| Total non-interest expense | 1,512,032 | 1,402,724 | 1,312,499 | ||||||||||||||
| Income before taxes | 1,118,407 | 947,089 | 845,081 | ||||||||||||||
| Income tax expense | 294,563 | 252,044 | 222,455 | ||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | |||||||||||
| Preferred stock dividends | 35,644 | 27,964 | 27,964 | ||||||||||||||
| Preferred stock redemption | 14,046 | — | — | ||||||||||||||
| Net income applicable to common shares | $ | 774,154 | $ | 667,081 | $ | 594,662 | |||||||||||
| Net income per common share—Basic | $ | 11.57 | $ | 10.47 | $ | 9.72 | |||||||||||
| Net income per common share—Diluted | $ | 11.40 | $ | 10.31 | $ | 9.58 | |||||||||||
| Cash dividends declared per common share | $ | 2.00 | $ | 1.80 | $ | 1.60 | |||||||||||
| Weighted average common shares outstanding | 66,896 | 63,685 | 61,149 | ||||||||||||||
| Dilutive potential common shares | 998 | 1,016 | 938 | ||||||||||||||
| Average common shares and dilutive common shares | 67,894 | 64,701 | 62,087 | ||||||||||||||
96 | ||||||||
| Years Ended December 31, | |||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | |||||||||||
| Unrealized gains (losses) on available-for-sale securities | |||||||||||||||||
| Before tax | 184,999 | (105,922) | 50,669 | ||||||||||||||
| Tax effect | (48,100) | 28,019 | (14,455) | ||||||||||||||
| Net of tax | 136,899 | (77,903) | 36,214 | ||||||||||||||
| Reclassification of net gains on available-for-sale securities included in net income | |||||||||||||||||
| Before tax | 159 | 1,236 | 951 | ||||||||||||||
| Tax effect | (41) | (321) | (252) | ||||||||||||||
| Net of tax | 118 | 915 | 699 | ||||||||||||||
| Reclassification of amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale | |||||||||||||||||
| Before tax | 40 | 89 | 212 | ||||||||||||||
| Tax effect | (10) | (24) | (57) | ||||||||||||||
| Net of tax | 30 | 65 | 155 | ||||||||||||||
| Net unrealized gains (losses) on available-for-sale securities | 136,751 | (78,883) | 35,360 | ||||||||||||||
| Unrealized gains (losses) on derivative instruments | |||||||||||||||||
| Before tax | 82,620 | (59,046) | 33,512 | ||||||||||||||
| Tax effect | (21,481) | 15,770 | (8,844) | ||||||||||||||
| Net unrealized gains (losses) on derivative instruments | 61,139 | (43,276) | 24,668 | ||||||||||||||
| Foreign currency translation adjustment | |||||||||||||||||
| Before tax | 17,902 | (30,518) | 7,788 | ||||||||||||||
| Tax effect | (3,211) | 5,573 | (1,411) | ||||||||||||||
| Net foreign currency translation adjustment | 14,691 | (24,945) | 6,377 | ||||||||||||||
| Total other comprehensive income (loss) | 212,581 | (147,104) | 66,405 | ||||||||||||||
| Comprehensive income | $ | 1,036,425 | $ | 547,941 | $ | 689,031 | |||||||||||
97 | ||||||||
| (In thousands, except per share data) | Preferred stock | Common stock | Surplus | Treasury stock | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | |||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2022 | $ | 412,500 | $ | 60,797 | $ | 1,902,474 | $ | (304) | $ | 2,849,007 | $ | (427,636) | $ | 4,796,838 | ||||||||||||||||||||||||||||||
| — | — | — | — | (544) | — | (544) | ||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | — | 622,626 | — | 622,626 | |||||||||||||||||||||||||||||||||||||
| Other comprehensive income, net of tax | — | — | — | — | — | 66,405 | 66,405 | |||||||||||||||||||||||||||||||||||||
Cash dividends declared on common stock, $1.60 per share | — | — | — | — | (97,726) | — | (97,726) | |||||||||||||||||||||||||||||||||||||
Dividends on Series D preferred stock, $1.64 per share and Series E preferred stock, $1,718.76 per share | — | — | — | — | (27,964) | — | (27,964) | |||||||||||||||||||||||||||||||||||||
| Stock-based compensation | — | — | 33,495 | — | — | — | 33,495 | |||||||||||||||||||||||||||||||||||||
| Common stock issued for: | ||||||||||||||||||||||||||||||||||||||||||||
| Exercise of stock options | — | 56 | 2,186 | — | — | — | 2,242 | |||||||||||||||||||||||||||||||||||||
| Restricted stock awards | — | 307 | (307) | (1,913) | — | — | (1,913) | |||||||||||||||||||||||||||||||||||||
| Employee stock purchase plan | — | 46 | 3,283 | — | — | — | 3,329 | |||||||||||||||||||||||||||||||||||||
| Director compensation plan | — | 63 | 2,675 | — | — | — | 2,738 | |||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2023 | $ | 412,500 | $ | 61,269 | $ | 1,943,806 | $ | (2,217) | $ | 3,345,399 | $ | (361,231) | $ | 5,399,526 | ||||||||||||||||||||||||||||||
| Net income | — | — | — | — | 695,045 | — | 695,045 | |||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of tax | — | — | — | — | — | (147,104) | (147,104) | |||||||||||||||||||||||||||||||||||||
Cash dividends declared on common stock, $1.80 per share | — | — | — | — | (115,316) | — | (115,316) | |||||||||||||||||||||||||||||||||||||
Dividends on Series D preferred stock, $1.64 per share and Series E preferred stock, $1,718.76 per share | — | — | — | — | (27,964) | — | (27,964) | |||||||||||||||||||||||||||||||||||||
| Stock-based compensation | — | — | 38,108 | — | — | — | 38,108 | |||||||||||||||||||||||||||||||||||||
| Common stock issued for: | ||||||||||||||||||||||||||||||||||||||||||||
| Acquisition of Macatawa Bank Corporation | — | 4,702 | 494,537 | — | — | — | 499,239 | |||||||||||||||||||||||||||||||||||||
| Exercise of stock options | — | 2 | 84 | — | — | — | 86 | |||||||||||||||||||||||||||||||||||||
| Restricted stock awards | — | 537 | (532) | (3,936) | — | — | (3,931) | |||||||||||||||||||||||||||||||||||||
| Employee stock purchase plan | — | 35 | 3,312 | — | — | — | 3,347 | |||||||||||||||||||||||||||||||||||||
| Director compensation plan | — | 15 | 3,246 | — | — | — | 3,261 | |||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2024 | $ | 412,500 | $ | 66,560 | $ | 2,482,561 | $ | (6,153) | $ | 3,897,164 | $ | (508,335) | $ | 6,344,297 | ||||||||||||||||||||||||||||||
| Net income | — | — | — | — | 823,844 | — | 823,844 | |||||||||||||||||||||||||||||||||||||
| Other comprehensive income, net of tax | — | — | — | — | — | 212,581 | 212,581 | |||||||||||||||||||||||||||||||||||||
Cash dividends declared on common stock, $2.00 per share | — | — | — | — | (133,779) | — | (133,779) | |||||||||||||||||||||||||||||||||||||
Dividends on Series D preferred stock, $0.82 per share, Series E preferred stock, $859.38 per share and Series F preferred stock, $1,274.22 per share | — | — | — | — | (35,644) | — | (35,644) | |||||||||||||||||||||||||||||||||||||
| Redemption of Series D and Series E preferred stock | (412,500) | — | 14,046 | — | (14,046) | — | (412,500) | |||||||||||||||||||||||||||||||||||||
| Issuance of Series F preferred stock | 425,000 | — | (10,852) | — | — | — | 414,148 | |||||||||||||||||||||||||||||||||||||
| Stock-based compensation | — | — | 41,551 | — | — | — | 41,551 | |||||||||||||||||||||||||||||||||||||
| Common stock issued for: | ||||||||||||||||||||||||||||||||||||||||||||
| Exercise of stock options | — | 5 | 215 | — | — | — | 220 | |||||||||||||||||||||||||||||||||||||
| Restricted stock awards | — | 448 | (448) | (3,003) | — | — | (3,003) | |||||||||||||||||||||||||||||||||||||
| Employee stock purchase plan | — | 30 | 3,489 | — | — | — | 3,519 | |||||||||||||||||||||||||||||||||||||
| Director compensation plan | — | 19 | 3,462 | — | — | — | 3,481 | |||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2025 | $ | 425,000 | $ | 67,062 | $ | 2,534,024 | $ | (9,156) | $ | 4,537,539 | $ | (295,754) | $ | 7,258,715 | ||||||||||||||||||||||||||||||
98 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Operating Activities: | ||||||||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | ||||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities | ||||||||||||||||||||
| Provision for credit losses | 95,553 | 101,047 | 114,390 | |||||||||||||||||
| Depreciation, amortization and accretion, net | 118,778 | 100,079 | 84,764 | |||||||||||||||||
| Deferred income tax expense (benefit) | 44,841 | 11,011 | (19,707) | |||||||||||||||||
| Stock-based compensation expense | 41,551 | 38,108 | 33,495 | |||||||||||||||||
| (Accretion) amortization of premium on securities, net | (10,587) | (2,133) | 1,236 | |||||||||||||||||
| Accretion of discount and deferred fees on loans, net | (19,744) | (18,984) | (16,943) | |||||||||||||||||
| Mortgage servicing rights fair value changes | 34,749 | 18,637 | 36,209 | |||||||||||||||||
| Non-designated derivatives fair value changes, net | (6,140) | 61,035 | (3,048) | |||||||||||||||||
| Originations and purchases of mortgage loans held-for-sale | (2,582,585) | (2,624,914) | (1,962,205) | |||||||||||||||||
| Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. government agencies, net of subsequent paydowns or payoffs | (34,218) | (23,197) | (25,954) | |||||||||||||||||
| Proceeds from sales of mortgage loans held-for-sale | 2,585,949 | 2,609,248 | 1,963,214 | |||||||||||||||||
| Bank owned life insurance (“BOLI”) gains | (6,559) | (5,755) | (4,575) | |||||||||||||||||
| Decrease (increase) in trading securities, net | 4,072 | 635 | (3,580) | |||||||||||||||||
| Decrease (increase) in brokerage customer receivables, net | 18,102 | (7,510) | 5,795 | |||||||||||||||||
| Gains on mortgage loans sold | (65,291) | (46,430) | (37,738) | |||||||||||||||||
| Gains on premium financing receivables sold | — | (4,575) | (890) | |||||||||||||||||
| (Gains) losses on investment securities, net, and dividend reinvestment on equity securities | (8,323) | 2,602 | (1,525) | |||||||||||||||||
| Losses on sales of premises and equipment, net | 438 | 336 | 1,290 | |||||||||||||||||
| Losses (gains) on sales and fair value adjustments of other real estate owned, net | 2,578 | (1,951) | (1,656) | |||||||||||||||||
| Increase in accrued interest receivable and other assets, net | (68,987) | (131,429) | (205,428) | |||||||||||||||||
| (Decrease) increase in accrued interest payable and other liabilities, net | (57,673) | (49,348) | 164,606 | |||||||||||||||||
| Net Cash Provided by Operating Activities | 910,348 | 721,557 | 744,376 | |||||||||||||||||
| Investing Activities: | ||||||||||||||||||||
| Proceeds from calls and sales of available-for-sale securities | 1,687,876 | 1,769,854 | 1,881,410 | |||||||||||||||||
| Proceeds from payments and maturities of available-for-sale securities | 640,943 | 588,664 | 384,769 | |||||||||||||||||
| Proceeds from payments, maturities and calls of held-to-maturity securities | 268,825 | 242,427 | 191,421 | |||||||||||||||||
| Proceeds from sales of equity securities with readily determinable fair value | 226,542 | 51,792 | 23,592 | |||||||||||||||||
| Proceeds from sales and capital distributions of equity securities without readily determinable fair value | 1,421 | 2,226 | 67 | |||||||||||||||||
| Purchases of available-for-sale securities | (5,062,590) | (1,748,535) | (2,244,564) | |||||||||||||||||
| Purchases of held-to-maturity securities | — | — | (408,917) | |||||||||||||||||
| Purchases of equity securities with readily determinable fair value | (63,413) | (125,573) | (47,454) | |||||||||||||||||
| Purchases of equity securities without readily determinable fair value | (1,752) | (6,933) | (10,450) | |||||||||||||||||
| (Purchases) redemptions of FHLB and FRB stock, net | (10,474) | (76,404) | 19,756 | |||||||||||||||||
| (Contributions to) distributions from investments in partnerships, net | (10,853) | 2,763 | 7,476 | |||||||||||||||||
| Net cash received (paid) in business combinations | — | 531,308 | (5,147) | |||||||||||||||||
| Proceeds from sales of premium financing receivables, net | — | 627,450 | 405,560 | |||||||||||||||||
| Proceeds from sale of other real estate owned | 2,141 | 20,026 | 5,051 | |||||||||||||||||
| Decrease (increase) in interest-bearing deposits with banks, net | 1,238,103 | (2,334,423) | (91,251) | |||||||||||||||||
| Increase in loans, net | (5,035,792) | (5,405,340) | (3,303,303) | |||||||||||||||||
| Redemption of BOLI | 351 | 367 | 574 | |||||||||||||||||
| Purchases of premises and equipment, net | (49,951) | (86,032) | (46,406) | |||||||||||||||||
| Net Cash Used for Investing Activities | (6,168,623) | (5,946,363) | (3,237,816) | |||||||||||||||||
| Financing Activities: | ||||||||||||||||||||
| Increase in deposit accounts, net | 5,204,842 | 4,805,004 | 2,494,619 | |||||||||||||||||
| (Decrease) increase in other borrowings, net | (73,607) | (83,674) | 40,670 | |||||||||||||||||
| Increase in Federal Home Loan Bank advances, net | 300,000 | 825,238 | 10,000 | |||||||||||||||||
| Cash payments to settle contingent consideration liabilities recognized in business combinations | — | (6,168) | (57) | |||||||||||||||||
| Proceeds from the issuance of preferred stock, net | 414,148 | — | — | |||||||||||||||||
| Repayment of subordinated notes | — | (140,000) | — | |||||||||||||||||
| Redemption of preferred stock | (412,500) | — | — | |||||||||||||||||
| Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and director compensation plan | 7,220 | 6,694 | 8,309 | |||||||||||||||||
| Common stock repurchases for tax withholdings related to stock-based compensation | (3,003) | (3,936) | (1,913) | |||||||||||||||||
| Dividends paid | (169,423) | (143,280) | (125,690) | |||||||||||||||||
| Net Cash Provided by Financing Activities | 5,267,677 | 5,259,878 | 2,425,938 | |||||||||||||||||
| Net Increase (Decrease) in Cash and Cash Equivalents | 9,402 | 35,072 | (67,502) | |||||||||||||||||
| Cash and Cash Equivalents at Beginning of Period | 458,536 | 423,464 | 490,966 | |||||||||||||||||
| Cash and Cash Equivalents at End of Period | $ | 467,938 | $ | 458,536 | $ | 423,464 | ||||||||||||||
| Supplemental Disclosure of Cash Flow Information: | ||||||||||||||||||||
| Cash paid during the year for: | ||||||||||||||||||||
| Interest | $ | 1,489,462 | $ | 1,517,813 | $ | 1,026,311 | ||||||||||||||
| Income taxes, net | 222,412 | 252,851 | 231,653 | |||||||||||||||||
| Business combinations: | ||||||||||||||||||||
| Fair value of assets acquired, including cash and cash equivalents | — | 2,611,601 | 23,669 | |||||||||||||||||
| Value ascribed to goodwill and other intangible assets | — | 252,983 | 8,822 | |||||||||||||||||
| Fair value of liabilities assumed | — | 2,365,345 | 12,468 | |||||||||||||||||
| Non-cash activities | ||||||||||||||||||||
| Transfer to other real estate owned from loans | 2,532 | 30,040 | 8,564 | |||||||||||||||||
| Common stock issued for acquisitions | — | 499,239 | — | |||||||||||||||||
99 | ||||||||
100 | ||||||||
101 | ||||||||
102 | ||||||||
103 | ||||||||
104 | ||||||||
105 | ||||||||
106 | ||||||||
107 | ||||||||
108 | ||||||||
109 | ||||||||
| December 31, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Amortized Cost | Gross unrealized gains | Gross unrealized losses | Fair Value | Amortized Cost | Gross unrealized gains | Gross unrealized losses | Fair Value | ||||||||||||||||||||||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | 6,999 | $ | 36 | $ | — | $ | 7,035 | $ | 37,858 | $ | 49 | $ | — | $ | 37,907 | ||||||||||||||||||||||||||||||||||
| U.S. government agencies | 50,000 | — | (2,529) | 47,471 | 50,000 | — | (5,055) | 44,945 | ||||||||||||||||||||||||||||||||||||||||||
| Municipal | 162,373 | 1,643 | (1,850) | 162,166 | 188,405 | 528 | (4,340) | 184,593 | ||||||||||||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial issuers | 79,000 | — | (2,704) | 76,296 | 83,997 | — | (3,828) | 80,169 | ||||||||||||||||||||||||||||||||||||||||||
| Other | 1,000 | — | (1) | 999 | 1,000 | — | (7) | 993 | ||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | 5,533,710 | 25,926 | (402,953) | 5,156,683 | 4,106,641 | 284 | (553,287) | 3,553,638 | ||||||||||||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage-baked securities | 280,969 | 570 | (4,986) | 276,553 | 19,064 | 23 | (755) | 18,332 | ||||||||||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | 521,430 | 2,305 | (14,675) | 509,060 | 238,574 | 1,187 | (18,856) | 220,905 | ||||||||||||||||||||||||||||||||||||||||||
| Total available-for-sale securities | $ | 6,635,481 | $ | 30,480 | $ | (429,698) | $ | 6,236,263 | $ | 4,725,539 | $ | 2,071 | $ | (586,128) | $ | 4,141,482 | ||||||||||||||||||||||||||||||||||
| Held-to-maturity securities | ||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | 313,541 | $ | — | $ | (57,269) | $ | 256,272 | $ | 313,539 | $ | — | $ | (69,127) | $ | 244,412 | ||||||||||||||||||||||||||||||||||
| Municipal | 144,192 | 451 | (2,012) | 142,631 | 161,016 | 243 | (5,290) | 155,969 | ||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | 2,667,371 | 7,503 | (491,124) | 2,183,750 | 2,864,927 | — | (605,014) | 2,259,913 | ||||||||||||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage-backed securities | 6,293 | 72 | (92) | 6,273 | 6,364 | — | (252) | 6,112 | ||||||||||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | 177,671 | 836 | (16,989) | 161,518 | 211,023 | 815 | (22,683) | 189,155 | ||||||||||||||||||||||||||||||||||||||||||
| Corporate notes | 35,097 | 2 | (396) | 34,703 | 56,851 | 8 | (1,870) | 54,989 | ||||||||||||||||||||||||||||||||||||||||||
| Total held-to-maturity securities | $ | 3,344,165 | $ | 8,864 | $ | (567,882) | $ | 2,785,147 | $ | 3,613,720 | $ | 1,066 | $ | (704,236) | $ | 2,910,550 | ||||||||||||||||||||||||||||||||||
| Less: Allowance for credit losses | (260) | (457) | ||||||||||||||||||||||||||||||||||||||||||||||||
| Held-to-maturity securities, net of allowance for credit losses | $ | 3,343,905 | $ | 3,613,263 | ||||||||||||||||||||||||||||||||||||||||||||||
| Equity securities with readily determinable fair value | $ | 61,211 | $ | 6,318 | $ | (3,759) | $ | 63,770 | $ | 220,758 | $ | 2,905 | $ | (8,251) | $ | 215,412 | ||||||||||||||||||||||||||||||||||
110 | ||||||||
As of December 31, 2025 | Continuous unrealized losses existing for less than 12 months | Continuous unrealized losses existing for greater than 12 months | Total | |||||||||||||||||||||||||||||||||||
(In thousands) | Fair value | Unrealized losses | Fair value | Unrealized losses | Fair value | Unrealized losses | ||||||||||||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | — | $ | — | $ | 47,471 | $ | (2,529) | $ | 47,471 | $ | (2,529) | ||||||||||||||||||||||||||
| Municipal | 36,516 | (142) | 37,288 | (1,708) | 73,804 | (1,850) | ||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||
| Financial issuers | — | — | 76,296 | (2,704) | 76,296 | (2,704) | ||||||||||||||||||||||||||||||||
| Other | 999 | (1) | — | — | 999 | (1) | ||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | 378,503 | (5,976) | 2,145,980 | (396,977) | 2,524,483 | (402,953) | ||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage backed securities | 215,561 | (4,420) | 6,094 | (566) | 221,655 | (4,986) | ||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | 91,601 | (123) | 63,696 | (14,552) | 155,297 | (14,675) | ||||||||||||||||||||||||||||||||
| Total available-for-sale securities | $ | 723,180 | $ | (10,662) | $ | 2,376,825 | $ | (419,036) | $ | 3,100,005 | $ | (429,698) | ||||||||||||||||||||||||||
As of December 31, 2024 | Continuous unrealized losses existing for less than 12 months | Continuous unrealized losses existing for greater than 12 months | Total | |||||||||||||||||||||||||||||||||||
(In thousands) | Fair value | Unrealized losses | Fair value | Unrealized losses | Fair value | Unrealized losses | ||||||||||||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | 44,945 | $ | (5,055) | $ | — | $ | — | $ | 44,945 | $ | (5,055) | ||||||||||||||||||||||||||
| Municipal | 52,344 | (3,536) | 83,517 | (804) | 135,861 | (4,340) | ||||||||||||||||||||||||||||||||
| Corporate notes: | ||||||||||||||||||||||||||||||||||||||
| Financial issuers | 80,169 | (3,828) | — | — | 80,169 | (3,828) | ||||||||||||||||||||||||||||||||
| Other | 993 | (7) | — | — | 993 | (7) | ||||||||||||||||||||||||||||||||
Mortgage-backed: (1) | ||||||||||||||||||||||||||||||||||||||
| Mortgage-backed securities | 2,212,780 | (519,164) | 1,327,534 | (34,123) | 3,540,314 | (553,287) | ||||||||||||||||||||||||||||||||
| Commercial (multi-family) mortgage backed securities | 3,134 | (390) | 12,204 | (365) | 15,338 | (755) | ||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations | 65,874 | (18,841) | 7,428 | (15) | 73,302 | (18,856) | ||||||||||||||||||||||||||||||||
| Total available-for-sale securities | $ | 2,460,239 | $ | (550,821) | $ | 1,430,683 | $ | (35,307) | $ | 3,890,922 | $ | (586,128) | ||||||||||||||||||||||||||
111 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
(In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Realized gains on investment securities | $ | 5,852 | $ | 2,704 | $ | 1,136 | ||||||||||||||
| Realized losses on investment securities | (3,316) | (276) | (71) | |||||||||||||||||
| Net realized gains on investment securities | 2,536 | 2,428 | 1,065 | |||||||||||||||||
| Unrealized gains on equity securities with readily determinable fair value | 9,510 | 4,451 | 5,428 | |||||||||||||||||
| Unrealized losses on equity securities with readily determinable fair value | (1,605) | (5,751) | (4,280) | |||||||||||||||||
| Net unrealized gains (losses) on equity securities with readily determinable fair value | 7,905 | (1,300) | 1,148 | |||||||||||||||||
| Downward adjustments of equity securities without readily determinable fair values | (20) | — | — | |||||||||||||||||
| Impairment of equity securities without readily determinable fair values | (2,098) | (3,730) | (688) | |||||||||||||||||
| Adjustment and impairment, net, of equity securities without readily determinable fair values | (2,118) | (3,730) | (688) | |||||||||||||||||
| Gains (losses) on investment securities, net | $ | 8,323 | $ | (2,602) | $ | 1,525 | ||||||||||||||
| Proceeds from sales of equity securities with readily determinable fair value | $ | 226,542 | $ | 51,792 | $ | 23,592 | ||||||||||||||
| Proceeds from sales and capital distributions of equity securities without readily determinable fair value | 1,421 | 2,226 | 67 | |||||||||||||||||
112 | ||||||||
| December 31, 2025 | December 31, 2024 | |||||||||||||||||||||||||
(In thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||
| Due in one year or less | $ | 47,978 | $ | 47,915 | $ | 89,578 | $ | 89,392 | ||||||||||||||||||
| Due in one to five years | 143,352 | 141,123 | 157,883 | 153,325 | ||||||||||||||||||||||
| Due in five to ten years | 80,561 | 79,672 | 89,125 | 84,240 | ||||||||||||||||||||||
| Due after ten years | 27,481 | 25,257 | 24,674 | 21,650 | ||||||||||||||||||||||
| Mortgage-backed | 6,336,109 | 5,942,296 | 4,364,279 | 3,792,875 | ||||||||||||||||||||||
| Total available-for-sale securities | $ | 6,635,481 | $ | 6,236,263 | $ | 4,725,539 | $ | 4,141,482 | ||||||||||||||||||
| Held-to-maturity securities | ||||||||||||||||||||||||||
| Due in one year or less | $ | 47,030 | $ | 46,630 | $ | 18,929 | $ | 18,658 | ||||||||||||||||||
| Due in one to five years | 76,452 | 76,366 | 110,897 | 108,056 | ||||||||||||||||||||||
| Due in five to ten years | 67,195 | 63,882 | 71,846 | 70,277 | ||||||||||||||||||||||
| Due after ten years | 302,153 | 246,728 | 329,734 | 258,379 | ||||||||||||||||||||||
| Mortgage-backed | 2,851,335 | 2,351,541 | 3,082,314 | 2,455,180 | ||||||||||||||||||||||
| Total held-to-maturity securities | $ | 3,344,165 | $ | 2,785,147 | $ | 3,613,720 | $ | 2,910,550 | ||||||||||||||||||
| Less: Allowance for credit losses | (260) | (457) | ||||||||||||||||||||||||
| Held-to-maturity securities, net of allowance for credit losses | $ | 3,343,905 | $ | 3,613,263 | ||||||||||||||||||||||
113 | ||||||||
| (Dollars in thousands) | December 31, 2025 | December 31, 2024 | ||||||||||||
| Balance: | ||||||||||||||
| Commercial | $ | 17,044,686 | $ | 15,574,551 | ||||||||||
| Commercial real estate | 13,940,736 | 12,903,944 | ||||||||||||
| Home equity | 480,525 | 445,028 | ||||||||||||
| Residential real estate | 4,317,232 | 3,612,765 | ||||||||||||
| Premium finance receivables—property & casualty | 8,183,416 | 7,272,042 | ||||||||||||
| Premium finance receivables—life insurance | 9,023,642 | 8,147,145 | ||||||||||||
| Consumer and other | 114,864 | 99,562 | ||||||||||||
| Total loans, net of unearned income | $ | 53,105,101 | $ | 48,055,037 | ||||||||||
| Mix: | ||||||||||||||
| Commercial | 32 | % | 32 | % | ||||||||||
| Commercial real estate | 26 | 27 | ||||||||||||
| Home equity | 1 | 1 | ||||||||||||
| Residential real estate | 8 | 8 | ||||||||||||
| Premium finance receivables—property & casualty | 16 | 15 | ||||||||||||
| Premium finance receivables—life insurance | 17 | 17 | ||||||||||||
| Consumer and other | 0 | 0 | ||||||||||||
| Total loans, net of unearned income | 100 | % | 100 | % | ||||||||||
114 | ||||||||
115 | ||||||||
As of December 31, 2025 (In thousands) | Nonaccrual | 90+ days and still accruing | 60-89 days past due | 30-59 days past due | Current | Total Loans | ||||||||||||||||||||||||||||||||
| Loan Balances (includes PCD): | ||||||||||||||||||||||||||||||||||||||
| Commercial | $ | 78,059 | $ | — | $ | 22,952 | $ | 90,205 | $ | 16,853,470 | $ | 17,044,686 | ||||||||||||||||||||||||||
| Commercial real estate: | ||||||||||||||||||||||||||||||||||||||
| Construction and development | 2,976 | — | 1,260 | 13,456 | 2,391,890 | 2,409,582 | ||||||||||||||||||||||||||||||||
| Non-construction | 22,171 | — | 18,269 | 52,145 | 11,438,569 | 11,531,154 | ||||||||||||||||||||||||||||||||
| Home equity | 1,221 | — | 1,112 | 2,818 | 475,374 | 480,525 | ||||||||||||||||||||||||||||||||
| Residential real estate loans, excluding early buy-out loans | 32,862 | — | 7,562 | 24,908 | 4,106,107 | 4,171,439 | ||||||||||||||||||||||||||||||||
| Premium finance receivables—property & casualty | 29,354 | 19,115 | 29,294 | 57,685 | 8,047,968 | 8,183,416 | ||||||||||||||||||||||||||||||||
| Premium finance receivables—life insurance | — | — | 13,887 | 22,806 | 8,986,949 | 9,023,642 | ||||||||||||||||||||||||||||||||
| Consumer and other | 8 | 42 | 466 | 643 | 113,705 | 114,864 | ||||||||||||||||||||||||||||||||
| Total loans, net of unearned income, excluding early buy-out loans | $ | 166,651 | $ | 19,157 | $ | 94,802 | $ | 264,666 | $ | 52,414,032 | $ | 52,959,308 | ||||||||||||||||||||||||||
Early buy-out loans guaranteed by U.S. government agencies (1) | — | 53,848 | 204 | 1,316 | 90,425 | 145,793 | ||||||||||||||||||||||||||||||||
| Total loans, net of unearned income | $ | 166,651 | $ | 73,005 | $ | 95,006 | $ | 265,982 | $ | 52,504,457 | $ | 53,105,101 | ||||||||||||||||||||||||||
116 | ||||||||
As of December 31, 2024 (In thousands) | Nonaccrual | 90+ days and still accruing | 60-89 days past due | 30-59 days past due | Current | Total Loans | ||||||||||||||||||||||||||||||||
| Loan Balances (includes PCD): | ||||||||||||||||||||||||||||||||||||||
| Commercial | $ | 73,490 | $ | 104 | $ | 54,844 | $ | 92,551 | $ | 15,353,562 | $ | 15,574,551 | ||||||||||||||||||||||||||
| Commercial real estate | ||||||||||||||||||||||||||||||||||||||
| Construction and development | 2,282 | — | 1,339 | 4,634 | 2,425,826 | 2,434,081 | ||||||||||||||||||||||||||||||||
| Non-construction | 18,760 | — | 9,182 | 26,132 | 10,415,789 | 10,469,863 | ||||||||||||||||||||||||||||||||
| Home equity | 1,117 | — | 1,233 | 2,148 | 440,530 | 445,028 | ||||||||||||||||||||||||||||||||
| Residential real estate loans, excluding early buy-out loans | 23,762 | — | 5,708 | 18,917 | 3,407,622 | 3,456,009 | ||||||||||||||||||||||||||||||||
| Premium finance receivables—property & casualty | 28,797 | 16,031 | 19,042 | 68,219 | 7,139,953 | 7,272,042 | ||||||||||||||||||||||||||||||||
| Premium finance receivables—life insurance | 6,431 | — | 72,963 | 36,405 | 8,031,346 | 8,147,145 | ||||||||||||||||||||||||||||||||
| Consumer and other | 2 | 47 | 59 | 882 | 98,572 | 99,562 | ||||||||||||||||||||||||||||||||
| Total loans, net of unearned income, excluding early buy-out loans | $ | 154,641 | $ | 16,182 | $ | 164,370 | $ | 249,888 | $ | 47,313,200 | $ | 47,898,281 | ||||||||||||||||||||||||||
Early buy-out loans guaranteed by U.S. government agencies (1) | — | 33,952 | 618 | 2,335 | 119,851 | 156,756 | ||||||||||||||||||||||||||||||||
| Total loans, net of unearned income | $ | 154,641 | $ | 50,134 | $ | 164,988 | $ | 252,223 | $ | 47,433,051 | $ | 48,055,037 | ||||||||||||||||||||||||||
117 | ||||||||
As of December 31, 2025 | Year of Origination | Revolving | Total | ||||||||||||||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving | to Term | Loans | ||||||||||||||||||||||||||
| Loan Balances: | |||||||||||||||||||||||||||||||||||
| Commercial, industrial and other | |||||||||||||||||||||||||||||||||||
| Pass | $ | 3,720,058 | $ | 2,692,642 | $ | 1,604,743 | $ | 1,059,564 | $ | 775,585 | $ | 1,086,890 | $ | 5,557,016 | $ | 43,490 | $ | 16,539,988 | |||||||||||||||||
| Special mention | 31,571 | 31,629 | 34,593 | 12,766 | 11,067 | 34,746 | 120,913 | 767 | 278,052 | ||||||||||||||||||||||||||
| Substandard accrual | 7,477 | 23,517 | 25,706 | 21,069 | 20,639 | 3,322 | 45,083 | 1,774 | 148,587 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | 5,006 | 6,635 | 6,196 | 28,155 | 25,238 | 3,101 | 2,094 | 1,634 | 78,059 | ||||||||||||||||||||||||||
| Total commercial, industrial and other | $ | 3,764,112 | $ | 2,754,423 | $ | 1,671,238 | $ | 1,121,554 | $ | 832,529 | $ | 1,128,059 | $ | 5,725,106 | $ | 47,665 | $ | 17,044,686 | |||||||||||||||||
| Construction and development | |||||||||||||||||||||||||||||||||||
| Pass | $ | 360,765 | $ | 603,682 | $ | 520,694 | $ | 524,644 | $ | 28,674 | $ | 104,220 | $ | 13,947 | $ | 824 | $ | 2,157,450 | |||||||||||||||||
| Special mention | — | — | 49,398 | 131,923 | — | 15,736 | — | — | 197,057 | ||||||||||||||||||||||||||
| Substandard accrual | — | — | 13,748 | 18,996 | — | 15,382 | 3,973 | — | 52,099 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | — | — | 750 | 1,321 | — | 905 | — | — | 2,976 | ||||||||||||||||||||||||||
| Total construction and development | $ | 360,765 | $ | 603,682 | $ | 584,590 | $ | 676,884 | $ | 28,674 | $ | 136,243 | $ | 17,920 | $ | 824 | $ | 2,409,582 | |||||||||||||||||
| Non-construction | |||||||||||||||||||||||||||||||||||
| Pass | $ | 2,279,126 | $ | 1,341,928 | $ | 1,207,171 | $ | 1,741,249 | $ | 1,261,008 | $ | 3,104,804 | $ | 202,614 | $ | 1,947 | $ | 11,139,847 | |||||||||||||||||
| Special mention | 2,059 | 841 | 62,563 | 56,882 | 6,109 | 45,720 | 1,414 | — | 175,588 | ||||||||||||||||||||||||||
| Substandard accrual | — | 18,738 | 29,242 | 54,800 | 54,390 | 34,571 | 1,807 | — | 193,548 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | — | — | 4,471 | 305 | — | 17,395 | — | — | 22,171 | ||||||||||||||||||||||||||
| Total non-construction | $ | 2,281,185 | $ | 1,361,507 | $ | 1,303,447 | $ | 1,853,236 | $ | 1,321,507 | $ | 3,202,490 | $ | 205,835 | $ | 1,947 | $ | 11,531,154 | |||||||||||||||||
| Home equity | |||||||||||||||||||||||||||||||||||
| Pass | $ | — | $ | 223 | $ | 197 | $ | 144 | $ | 277 | $ | 13,241 | $ | 439,150 | $ | 11,928 | $ | 465,160 | |||||||||||||||||
| Special mention | — | 60 | 100 | 219 | — | 2,190 | 5,941 | 155 | 8,665 | ||||||||||||||||||||||||||
118 | ||||||||
| Substandard accrual | — | — | 15 | 19 | 91 | 3,051 | 2,268 | 35 | 5,479 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | — | — | — | 188 | 129 | 904 | — | — | 1,221 | ||||||||||||||||||||||||||
| Total home equity | $ | — | $ | 283 | $ | 312 | $ | 570 | $ | 497 | $ | 19,386 | $ | 447,359 | $ | 12,118 | $ | 480,525 | |||||||||||||||||
| Residential real estate | |||||||||||||||||||||||||||||||||||
| Early buy-out loans guaranteed by U.S. government agencies | $ | 746 | $ | 8,415 | $ | 9,087 | $ | 7,468 | $ | 6,250 | $ | 113,827 | $ | — | $ | — | $ | 145,793 | |||||||||||||||||
| Pass | 1,118,444 | 726,637 | 395,578 | 748,133 | 705,103 | 409,071 | — | — | 4,102,966 | ||||||||||||||||||||||||||
| Special mention | 506 | 2,020 | 6,167 | 5,020 | 3,008 | 7,423 | — | — | 24,144 | ||||||||||||||||||||||||||
| Substandard accrual | 28 | 135 | 813 | 3,821 | 2,806 | 3,864 | — | — | 11,467 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | 266 | 3,738 | 6,021 | 9,501 | 5,732 | 7,604 | — | — | 32,862 | ||||||||||||||||||||||||||
| Total residential real estate | $ | 1,119,990 | $ | 740,945 | $ | 417,666 | $ | 773,943 | $ | 722,899 | $ | 541,789 | $ | — | $ | — | $ | 4,317,232 | |||||||||||||||||
| Premium finance receivables - property & casualty | |||||||||||||||||||||||||||||||||||
| Pass | $ | 8,012,676 | $ | 22,018 | $ | 1,595 | $ | 559 | $ | 686 | $ | — | $ | — | $ | — | $ | 8,037,534 | |||||||||||||||||
| Special mention | 102,258 | 1,039 | 19 | — | — | — | — | — | 103,316 | ||||||||||||||||||||||||||
| Substandard accrual | 12,811 | 399 | — | 1 | 1 | — | — | — | 13,212 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | 24,836 | 4,499 | 16 | 2 | 1 | — | — | — | 29,354 | ||||||||||||||||||||||||||
| Total premium finance receivables - property & casualty | $ | 8,152,581 | $ | 27,955 | $ | 1,630 | $ | 562 | $ | 688 | $ | — | $ | — | $ | — | $ | 8,183,416 | |||||||||||||||||
| Premium finance receivables - life | |||||||||||||||||||||||||||||||||||
| Pass | $ | 592,387 | $ | 786,884 | $ | 547,682 | $ | 767,847 | $ | 1,091,295 | $ | 5,237,547 | $ | — | $ | — | $ | 9,023,642 | |||||||||||||||||
| Special mention | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Substandard accrual | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total premium finance receivables - life | $ | 592,387 | $ | 786,884 | $ | 547,682 | $ | 767,847 | $ | 1,091,295 | $ | 5,237,547 | $ | — | $ | — | $ | 9,023,642 | |||||||||||||||||
| Consumer and other | |||||||||||||||||||||||||||||||||||
| Pass | $ | 5,905 | $ | 2,095 | $ | 1,707 | $ | 258 | $ | 588 | $ | 24,935 | $ | 78,989 | $ | — | $ | 114,477 | |||||||||||||||||
| Special mention | 102 | 15 | 30 | 82 | — | 108 | 13 | — | 350 | ||||||||||||||||||||||||||
| Substandard accrual | 2 | 6 | — | — | — | 12 | 9 | — | 29 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | — | 8 | — | — | — | — | — | — | 8 | ||||||||||||||||||||||||||
| Total consumer and other | $ | 6,009 | $ | 2,124 | $ | 1,737 | $ | 340 | $ | 588 | $ | 25,055 | $ | 79,011 | $ | — | $ | 114,864 | |||||||||||||||||
| Total loans | |||||||||||||||||||||||||||||||||||
| Early buy-out loans guaranteed by U.S. government agencies | $ | 746 | $ | 8,415 | $ | 9,087 | $ | 7,468 | $ | 6,250 | $ | 113,827 | $ | — | $ | — | $ | 145,793 | |||||||||||||||||
| Pass | 16,089,361 | 6,176,109 | 4,279,367 | 4,842,398 | 3,863,216 | 9,980,708 | 6,291,716 | 58,189 | 51,581,064 | ||||||||||||||||||||||||||
| Special mention | 136,496 | 35,604 | 152,870 | 206,892 | 20,184 | 105,923 | 128,281 | 922 | 787,172 | ||||||||||||||||||||||||||
| Substandard accrual | 20,318 | 42,795 | 69,524 | 98,706 | 77,927 | 60,202 | 53,140 | 1,809 | 424,421 | ||||||||||||||||||||||||||
| Substandard nonaccrual/doubtful | 30,108 | 14,880 | 17,454 | 39,472 | 31,100 | 29,909 | 2,094 | 1,634 | 166,651 | ||||||||||||||||||||||||||
| Total loans | $ | 16,277,029 | $ | 6,277,803 | $ | 4,528,302 | $ | 5,194,936 | $ | 3,998,677 | $ | 10,290,569 | $ | 6,475,231 | $ | 62,554 | $ | 53,105,101 | |||||||||||||||||
| Gross write offs | |||||||||||||||||||||||||||||||||||
| Three months ended December 31, 2025 | $ | 8,981 | $ | 1,616 | $ | 1,711 | $ | 2,311 | $ | 5,954 | $ | 6,503 | $ | — | $ | — | $ | 27,076 | |||||||||||||||||
| Twelve months ended December 31, 2025 | 17,690 | 16,913 | 6,957 | 10,440 | 20,147 | 19,719 | — | — | 91,866 | ||||||||||||||||||||||||||
119 | ||||||||
As of December 31, 2025 | Year of Origination | Total | ||||||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Balance | |||||||||||||||||||
| Amortized Cost Balances: | ||||||||||||||||||||||||||
| U.S. government agencies | ||||||||||||||||||||||||||
| 1-4 internal grade | $ | — | $ | — | $ | — | $ | 135,000 | $ | 147,830 | $ | 30,711 | $ | 313,541 | ||||||||||||
| 5-7 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| 8-10 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| Total U.S. government agencies | $ | — | $ | — | $ | — | $ | 135,000 | $ | 147,830 | $ | 30,711 | $ | 313,541 | ||||||||||||
| Municipal | ||||||||||||||||||||||||||
| 1-4 internal grade | $ | — | $ | — | $ | 4,092 | $ | 1,027 | $ | 6,718 | $ | 130,468 | $ | 142,305 | ||||||||||||
| 5-7 internal grade | — | — | — | — | — | 1,887 | 1,887 | |||||||||||||||||||
| 8-10 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| Total municipal | $ | — | $ | — | $ | 4,092 | $ | 1,027 | $ | 6,718 | $ | 132,355 | $ | 144,192 | ||||||||||||
| Mortgage-backed securities | ||||||||||||||||||||||||||
| 1-4 internal grade | $ | — | $ | — | $ | 273,577 | $ | 480,317 | $ | 2,097,441 | $ | — | $ | 2,851,335 | ||||||||||||
| 5-7 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| 8-10 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| Total mortgage-backed securities | $ | — | $ | — | $ | 273,577 | $ | 480,317 | $ | 2,097,441 | $ | — | $ | 2,851,335 | ||||||||||||
| Corporate notes | ||||||||||||||||||||||||||
| 1-4 internal grade | $ | — | $ | — | $ | — | $ | 4,973 | $ | — | $ | 30,124 | $ | 35,097 | ||||||||||||
| 5-7 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| 8-10 internal grade | — | — | — | — | — | — | — | |||||||||||||||||||
| Total corporate notes | $ | — | $ | — | $ | — | $ | 4,973 | $ | — | $ | 30,124 | $ | 35,097 | ||||||||||||
| Total held-to-maturity securities | $ | 3,344,165 | ||||||||||||||||||||||||
| Less: Allowance for credit losses | (260) | |||||||||||||||||||||||||
| Held-to-maturity securities, net of allowance for credit losses | $ | 3,343,905 | ||||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||
| (In thousands) | 2025 | 2024 | ||||||||||||
| Allowance for loan losses | $ | 379,283 | $ | 364,017 | ||||||||||
| Allowance for unfunded lending-related commitments losses | 80,922 | 72,586 | ||||||||||||
| Allowance for loan losses and unfunded lending-related commitments losses | 460,205 | 436,603 | ||||||||||||
| Allowance for held-to-maturity securities losses | 260 | 457 | ||||||||||||
| Allowance for credit losses | $ | 460,465 | $ | 437,060 | ||||||||||
120 | ||||||||
121 | ||||||||
Year Ended December 31, 2025 (In thousands) | Commercial | Commercial Real Estate | Home Equity | Residential Real Estate | Premium Finance Receivable | Consumer and Other | Total Loans | |||||||||||||||||||||||||||||||||||||
| Allowance for credit losses at beginning of period | $ | 175,837 | $ | 222,856 | $ | 8,943 | $ | 10,335 | $ | 17,820 | $ | 812 | 436,603 | |||||||||||||||||||||||||||||||
| Other adjustments | — | — | — | 167 | — | 167 | ||||||||||||||||||||||||||||||||||||||
| Charge-offs | (50,361) | (11,934) | (138) | (26) | (28,704) | (703) | (91,866) | |||||||||||||||||||||||||||||||||||||
| Recoveries | 5,080 | 267 | 378 | 140 | 13,556 | 130 | 19,551 | |||||||||||||||||||||||||||||||||||||
| Provision for credit losses - other | 47,989 | 35,744 | 1,219 | 2,070 | 8,172 | 556 | 95,750 | |||||||||||||||||||||||||||||||||||||
| Allowance for credit losses at period end | $ | 178,545 | $ | 246,933 | $ | 10,402 | $ | 12,519 | $ | 11,011 | $ | 795 | $ | 460,205 | ||||||||||||||||||||||||||||||
| By measurement method: | ||||||||||||||||||||||||||||||||||||||||||||
| Individually evaluated for impairment | $ | 19,054 | $ | 4,890 | $ | — | $ | 120 | $ | 8 | $ | 24,072 | ||||||||||||||||||||||||||||||||
| Collectively evaluated for impairment | 159,491 | 242,043 | 10,402 | 12,399 | 11,011 | 787 | 436,133 | |||||||||||||||||||||||||||||||||||||
| Loans at period end: | ||||||||||||||||||||||||||||||||||||||||||||
| Individually evaluated for impairment | $ | 78,059 | $ | 25,147 | $ | 1,221 | $ | 32,774 | $ | — | $ | 8 | $ | 137,209 | ||||||||||||||||||||||||||||||
| Collectively evaluated for impairment | 16,966,627 | 13,915,589 | 479,304 | 4,132,868 | 17,207,058 | 114,856 | 52,816,302 | |||||||||||||||||||||||||||||||||||||
| Loans held at fair value | — | — | — | 151,590 | — | — | 151,590 | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2024 (In thousands) | Commercial | Commercial Real Estate | Home Equity | Residential Real Estate | Premium Finance Receivable | Consumer and Other | Total Loans | |||||||||||||||||||||||||||||||||||||
| Allowance for credit losses at beginning of period | $ | 169,604 | $ | 223,853 | $ | 7,116 | $ | 13,133 | $ | 13,069 | $ | 490 | $ | 427,265 | ||||||||||||||||||||||||||||||
| Other adjustments | — | — | — | — | (207) | — | (207) | |||||||||||||||||||||||||||||||||||||
| Charge-offs | (48,864) | (22,127) | (74) | (175) | (37,519) | (587) | (109,346) | |||||||||||||||||||||||||||||||||||||
| Recoveries | 2,853 | 323 | 359 | 15 | 11,313 | 87 | 14,950 | |||||||||||||||||||||||||||||||||||||
| Provision for credit losses | 47,439 | 9,164 | 196 | (3,337) | 31,164 | 764 | 85,390 | |||||||||||||||||||||||||||||||||||||
| Provision for credit losses - Day 1 on non-PCD assets acquired during the period | 2,967 | 10,540 | 1,344 | 638 | — | 58 | 15,547 | |||||||||||||||||||||||||||||||||||||
| Initial allowance for credit losses recognized on PCD assets acquired during the period | 1,838 | 1,103 | 2 | 61 | — | — | 3,004 | |||||||||||||||||||||||||||||||||||||
| Allowance for loan losses at period end | $ | 175,837 | $ | 222,856 | $ | 8,943 | $ | 10,335 | $ | 17,820 | $ | 812 | 436,603 | |||||||||||||||||||||||||||||||
| By measurement method: | ||||||||||||||||||||||||||||||||||||||||||||
| Individually evaluated for impairment | $ | 27,894 | $ | 6,768 | $ | 50 | $ | 44 | $ | — | $ | 1 | $ | 34,757 | ||||||||||||||||||||||||||||||
| Collectively evaluated for impairment | 147,943 | 216,088 | 8,893 | 10,291 | 17,820 | 811 | 401,846 | |||||||||||||||||||||||||||||||||||||
| Loans at period end: | ||||||||||||||||||||||||||||||||||||||||||||
| Individually evaluated for impairment | $ | 73,490 | $ | 21,042 | $ | 1,117 | $ | 23,674 | $ | — | $ | 2 | $ | 119,325 | ||||||||||||||||||||||||||||||
| Collectively evaluated for impairment | 15,501,061 | 12,882,902 | 443,911 | 3,430,296 | 15,419,187 | 99,560 | 47,776,917 | |||||||||||||||||||||||||||||||||||||
| Loan held at fair value | — | — | — | 158,795 | — | — | 158,795 | |||||||||||||||||||||||||||||||||||||
122 | ||||||||
Year Ended December 31, 2025 (Dollars in thousands) | Total | Percentage of Total Class of Loan | Extension of Term | Reduction of Interest Rate | Interest Only Payments | Delay in Contractual Payments | Extension of Term and Reduction of Interest Rate | |||||||||||||||||||||||||||||||||||||
| Commercial | $ | 38,113 | 0.5 | % | $ | 14,883 | $ | 8 | $ | 501 | $ | 22,043 | $ | 678 | ||||||||||||||||||||||||||||||
| Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||
| Non-construction | 358 | 0.0 | 358 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Home equity | 121 | 0.0 | — | — | — | — | 121 | |||||||||||||||||||||||||||||||||||||
| Residential real estate | 1,876 | 0.0 | 568 | 271 | — | 238 | 799 | |||||||||||||||||||||||||||||||||||||
| Total loans | $ | 40,468 | 0.1 | % | $ | 15,809 | $ | 279 | $ | 501 | $ | 22,281 | $ | 1,598 | ||||||||||||||||||||||||||||||
123 | ||||||||
Year Ended December 31, 2024 (Dollars in thousands) | Total | Percentage of Total Class of Loan | Extension of Term | Reduction of Interest Rate | Interest Only Payments | Delay in Contractual Payments | Extension of Term and Reduction of Interest Rate | |||||||||||||||||||||||||||||||||||||
| Commercial | $ | 11,531 | 0.1 | % | $ | 9,516 | $ | 9 | $ | 17 | $ | 81 | $ | 1,908 | ||||||||||||||||||||||||||||||
| Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||
| Construction and development | 701 | 0.0 | 701 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Non-construction | 813 | 0.0 | 493 | — | 320 | — | — | |||||||||||||||||||||||||||||||||||||
| Home equity | 86 | 0.0 | 86 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Residential real estate | 166 | 0.0 | — | 166 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Premium finance receivables—property & casualty | 1,226 | 0.0 | 96 | 1,103 | — | — | 27 | |||||||||||||||||||||||||||||||||||||
| Total loans | $ | 14,523 | 0.0 | % | $ | 10,892 | $ | 1,278 | $ | 337 | $ | 81 | $ | 1,935 | ||||||||||||||||||||||||||||||
124 | ||||||||
| (Dollars in thousands) | Year Ended December 31, 2025 | Year Ended December 31, 2025 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | ||||||||||||||||||||||
| Total | Payments in Default (1) | Total | Payments in Default (1) | |||||||||||||||||||||||
| Commercial | $ | 38,113 | $ | 653 | $ | 11,531 | $ | 995 | ||||||||||||||||||
| Commercial real estate | ||||||||||||||||||||||||||
| Construction and development | — | — | 701 | — | ||||||||||||||||||||||
| Non-construction | 358 | 179 | 813 | 319 | ||||||||||||||||||||||
| Home equity | 121 | — | 86 | 86 | ||||||||||||||||||||||
| Residential real estate | 1,876 | 914 | 166 | 166 | ||||||||||||||||||||||
| Premium finance receivables—property & casualty | — | — | 1,226 | 122 | ||||||||||||||||||||||
| Total loans | $ | 40,468 | $ | 1,746 | $ | 14,523 | $ | 1,688 | ||||||||||||||||||
| December 31, | December 31, | December 31, | ||||||||||||||||||
(In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Fair value at beginning of year | $ | 203,788 | $ | 192,456 | $ | 230,225 | ||||||||||||||
| Additions from loans sold with servicing retained | 25,984 | 29,969 | 28,610 | |||||||||||||||||
| Servicing rights sold | — | — | (30,170) | |||||||||||||||||
| Estimate of changes in fair value due to: | ||||||||||||||||||||
| Payoffs and paydowns | (23,656) | (23,026) | (17,060) | |||||||||||||||||
| Changes in valuation inputs or assumptions | (11,093) | 4,389 | (19,149) | |||||||||||||||||
| Fair value at end of year | $ | 195,023 | $ | 203,788 | $ | 192,456 | ||||||||||||||
| Unpaid principal balance of mortgage loans serviced for others | $ | 12,608,694 | $ | 12,400,913 | $ | 12,007,165 | ||||||||||||||
125 | ||||||||
(In thousands) | January 1, 2025 | Goodwill Acquired | Impairment Loss | Goodwill Adjustments | December 31, 2025 | |||||||||||||||||||||||||||
| Community banking | $ | 687,754 | $ | — | $ | — | $ | — | $ | 687,754 | ||||||||||||||||||||||
| Specialty finance | 37,193 | — | — | 1,018 | 38,211 | |||||||||||||||||||||||||||
| Wealth management | 71,995 | — | — | — | 71,995 | |||||||||||||||||||||||||||
| Total | $ | 796,942 | $ | — | $ | — | $ | 1,018 | $ | 797,960 | ||||||||||||||||||||||
126 | ||||||||
| December 31, | ||||||||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Community banking segment: | ||||||||||||||
| Core deposit intangibles with finite lives: | ||||||||||||||
| Gross carrying amount | $ | 158,106 | $ | 158,106 | ||||||||||
| Accumulated amortization | (76,861) | (56,784) | ||||||||||||
| Net carrying amount | $ | 81,245 | $ | 101,322 | ||||||||||
| Trademark with indefinite lives: | ||||||||||||||
| Carrying amount | 11,500 | 13,800 | ||||||||||||
| Total net carrying amount | $ | 92,745 | $ | 115,122 | ||||||||||
| Specialty finance segment: | ||||||||||||||
| Customer list intangibles with finite lives: | ||||||||||||||
| Gross carrying amount | $ | 1,961 | $ | 1,959 | ||||||||||
| Accumulated amortization | (1,932) | (1,881) | ||||||||||||
| Net carrying amount | $ | 29 | $ | 78 | ||||||||||
| Wealth management segment: | ||||||||||||||
| Customer list and other intangibles with finite lives: | ||||||||||||||
| Gross carrying amount | $ | 26,630 | $ | 26,630 | ||||||||||
| Accumulated amortization | (21,405) | (20,140) | ||||||||||||
| Net carrying amount | $ | 5,225 | $ | 6,490 | ||||||||||
| Total acquisition-related intangible assets: | ||||||||||||||
| Gross carrying amount | $ | 198,197 | $ | 200,495 | ||||||||||
| Accumulated amortization | (100,198) | (78,805) | ||||||||||||
| Total acquisition-related intangible assets, net | $ | 97,999 | $ | 121,690 | ||||||||||
127 | ||||||||
| December 31, | ||||||||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Land | $ | 184,954 | $ | 184,318 | ||||||||||
| Buildings and leasehold improvements | 728,665 | 703,798 | ||||||||||||
| Furniture, equipment and computer software | 409,087 | 383,056 | ||||||||||||
| Construction in progress | 10,182 | 15,702 | ||||||||||||
| $ | 1,332,888 | $ | 1,286,874 | |||||||||||
| Less: Accumulated depreciation and amortization | 551,277 | 507,744 | ||||||||||||
| Total premises, software, and equipment, net | $ | 781,611 | $ | 779,130 | ||||||||||
(Dollars in thousands) | 2025 | 2024 | ||||||||||||
| Balance: | ||||||||||||||
| Non-interest bearing | $ | 11,423,701 | $ | 11,410,018 | ||||||||||
| NOW and interest-bearing demand deposits | 6,233,753 | 5,865,546 | ||||||||||||
| Wealth management deposits | 1,907,647 | 1,469,064 | ||||||||||||
| Money market | 21,368,924 | 17,975,191 | ||||||||||||
| Savings | 6,905,216 | 6,372,499 | ||||||||||||
| Time certificates of deposit | 9,877,950 | 9,420,031 | ||||||||||||
Total deposits | $ | 57,717,191 | $ | 52,512,349 | ||||||||||
| Mix: | ||||||||||||||
| Non-interest bearing | 20 | % | 22 | % | ||||||||||
| NOW and interest-bearing demand deposits | 11 | 11 | ||||||||||||
| Wealth management deposits | 3 | 3 | ||||||||||||
| Money market | 37 | 34 | ||||||||||||
| Savings | 12 | 12 | ||||||||||||
| Time certificates of deposit | 17 | 18 | ||||||||||||
Total deposits | 100 | % | 100 | % | ||||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Due within one year | $ | 9,443,038 | $ | 9,061,295 | ||||||||||
| Due in one to two years | 361,555 | 281,239 | ||||||||||||
| Due in two to three years | 56,526 | 53,009 | ||||||||||||
| Due in three to four years | 11,296 | 14,316 | ||||||||||||
| Due in four to five years | 5,351 | 10,104 | ||||||||||||
| Due after five years | 184 | 68 | ||||||||||||
Total time certificate of deposits | $ | 9,877,950 | $ | 9,420,031 | ||||||||||
128 | ||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Maturing within three months | $ | 732,812 | $ | 774,312 | ||||||||||
| After three but within six months | 721,352 | 926,997 | ||||||||||||
| After six but within 12 months | 711,506 | 490,231 | ||||||||||||
| After 12 months | 67,584 | 54,691 | ||||||||||||
Total | $ | 2,233,254 | $ | 2,246,231 | ||||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
0.00% advance due April 2026 | $ | 629 | $ | 629 | ||||||||||
0.00% advance due January 2029 | 680 | 680 | ||||||||||||
3.70% advance due July 2030 | 150,000 | 150,000 | ||||||||||||
2.81% advance due September 2032 | 500,000 | 500,000 | ||||||||||||
3.08% advance due September 2032 | 500,000 | 500,000 | ||||||||||||
3.10% advance due December 2032 | 200,000 | — | ||||||||||||
2.95% advance due May 2033 | 250,000 | 250,000 | ||||||||||||
3.72% advance due July 2033 | 150,000 | 150,000 | ||||||||||||
3.43% advance due January 2034 | 175,000 | 175,000 | ||||||||||||
3.19% advance due January 2034 | 175,000 | 175,000 | ||||||||||||
3.45% advance due April 2034 | 250,000 | 250,000 | ||||||||||||
3.44% advance due April 2034 | 250,000 | 250,000 | ||||||||||||
3.33% advance due May 2034 | 250,000 | 250,000 | ||||||||||||
3.29% advance due June 2034 | 250,000 | 250,000 | ||||||||||||
3.38% advance due June 2034 | 250,000 | 250,000 | ||||||||||||
2.84% advance due December 2035 | 100,000 | — | ||||||||||||
| Total FHLB advances | $ | 3,451,309 | $ | 3,151,309 | ||||||||||
129 | ||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Notes payable | $ | — | $ | 142,763 | ||||||||||
| Secured Borrowings | 422,107 | 334,934 | ||||||||||||
| Other | 55,859 | 57,106 | ||||||||||||
| Total other borrowings | $ | 477,966 | $ | 534,803 | ||||||||||
130 | ||||||||
131 | ||||||||
| Common Securities | Trust Preferred Securities | Junior Subordinated Debentures | Rate Structure (1) | Contractual rate at 12/31/2025 | Maturity Date | Earliest Redemption Date | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | Issue Date | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wintrust Capital Trust III | $ | 774 | $ | 25,000 | $ | 25,774 | $ | 25,774 | S+0.26161+3.25 | 7.42 | % | 04/2003 | 04/2033 | 04/2008 | ||||||||||||||||||||||||||||||||||||||||||
| Wintrust Statutory Trust IV | 619 | 20,000 | 20,619 | 20,619 | S+0.26161+2.80 | 6.73 | 12/2003 | 12/2033 | 12/2008 | |||||||||||||||||||||||||||||||||||||||||||||||
| Wintrust Statutory Trust V | 1,238 | 40,000 | 41,238 | 41,238 | S+0.26161+2.60 | 6.53 | 05/2004 | 05/2034 | 06/2009 | |||||||||||||||||||||||||||||||||||||||||||||||
| Wintrust Capital Trust VII | 1,550 | 50,000 | 51,550 | 51,550 | S+0.26161+1.95 | 5.93 | 12/2004 | 03/2035 | 03/2010 | |||||||||||||||||||||||||||||||||||||||||||||||
| Wintrust Capital Trust VIII | 1,238 | 25,000 | 26,238 | 26,238 | S+0.26161+1.45 | 5.38 | 08/2005 | 09/2035 | 09/2010 | |||||||||||||||||||||||||||||||||||||||||||||||
| Wintrust Capital Trust IX | 1,547 | 50,000 | 51,547 | 51,547 | S+0.26161+1.63 | 5.61 | 09/2006 | 09/2036 | 09/2011 | |||||||||||||||||||||||||||||||||||||||||||||||
| Northview Capital Trust I | 186 | 6,000 | 6,186 | 6,186 | S+0.26161+3.00 | 7.12 | 08/2003 | 11/2033 | 08/2008 | |||||||||||||||||||||||||||||||||||||||||||||||
| Town Bankshares Capital Trust I | 186 | 6,000 | 6,186 | 6,186 | S+0.26161+3.00 | 7.12 | 08/2003 | 11/2033 | 08/2008 | |||||||||||||||||||||||||||||||||||||||||||||||
| First Northwest Capital Trust I | 155 | 5,000 | 5,155 | 5,155 | S+0.26161+3.00 | 6.93 | 05/2004 | 05/2034 | 05/2009 | |||||||||||||||||||||||||||||||||||||||||||||||
| Suburban Illinois Capital Trust II | 464 | 15,000 | 15,464 | 15,464 | S+0.26161+1.75 | 5.73 | 12/2006 | 12/2036 | 12/2011 | |||||||||||||||||||||||||||||||||||||||||||||||
| Community Financial Shares Statutory Trust II | 109 | 3,500 | 3,609 | 3,609 | S+0.26161+1.62 | 5.60 | 06/2007 | 09/2037 | 06/2012 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 253,566 | $ | 253,566 | 6.19 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
132 | ||||||||
| (Dollars in thousands) | Years Ended | |||||||||||||||||||||||||
| Revenue from contracts with customers | Location in income statement | December 31, 2025 | December 31, 2024 | December 31, 2023 | ||||||||||||||||||||||
| Brokerage and insurance product commissions | Wealth management | $ | 18,779 | $ | 22,611 | $ | 18,645 | |||||||||||||||||||
| Trust | Wealth management | 29,061 | 25,941 | 24,190 | ||||||||||||||||||||||
| Asset management | Wealth management | 99,576 | 97,675 | 87,772 | ||||||||||||||||||||||
| Total wealth management | 147,416 | 146,227 | 130,607 | |||||||||||||||||||||||
| Mortgage broker fees | Mortgage banking | 2,759 | 1,925 | 844 | ||||||||||||||||||||||
| Service charges on deposit accounts | Service charges on deposit accounts | 79,091 | 65,651 | 55,250 | ||||||||||||||||||||||
| Administrative services | Other non-interest income | 5,300 | 5,336 | 5,599 | ||||||||||||||||||||||
| Card related fees | Other non-interest income | 15,973 | 17,829 | 13,789 | ||||||||||||||||||||||
| Other deposit related fees | Other non-interest income | 15,096 | 13,774 | 14,354 | ||||||||||||||||||||||
| Total revenue from contracts with customers | $ | 265,635 | $ | 250,742 | $ | 220,443 | ||||||||||||||||||||
133 | ||||||||
134 | ||||||||
| (Dollars in thousands) | December 31, 2025 | December 31, 2024 | |||||||||
| Contract assets | $ | — | $ | — | |||||||
| Contract liabilities | $ | 2,635 | $ | 1,329 | |||||||
| Mortgage broker fees receivable | $ | 137 | $ | 101 | |||||||
| Administrative services receivable | 152 | 213 | |||||||||
| Wealth management receivable | 13,158 | 12,130 | |||||||||
| Card related fees receivable | 1,103 | 1,026 | |||||||||
| Total receivables from contracts with customer | $ | 14,550 | $ | 13,470 | |||||||
| (Dollars in thousands) | |||||
| Estimated—2026 | $ | 889 | |||
| Estimated—2027 | 471 | ||||
| Estimated—2028 | 471 | ||||
| Estimated—2029 | 471 | ||||
| Estimated—2030+ | 333 | ||||
| Total | $ | 2,635 | |||
135 | ||||||||
| Year Ended | ||||||||||||||||||||
(In thousands) | December 31, 2025 | December 31, 2024 | December 31, 2023 | |||||||||||||||||
| Operating lease cost | $ | 25,277 | $ | 23,446 | $ | 22,337 | ||||||||||||||
| Finance lease cost: | ||||||||||||||||||||
| Amortization of right-of-use asset | 249 | 249 | 219 | |||||||||||||||||
| Interest on lease liability | 365 | 366 | 290 | |||||||||||||||||
| Short-term lease cost | 143 | 111 | 41 | |||||||||||||||||
| Variable lease cost | 3,640 | 2,865 | 2,391 | |||||||||||||||||
| Sublease income | — | (80) | (70) | |||||||||||||||||
| Total lease cost | $ | 29,674 | $ | 26,957 | $ | 25,208 | ||||||||||||||
| Year Ended | ||||||||||||||
| (In thousands) | December 31, 2025 | December 31, 2024 | ||||||||||||
| Cash paid for amounts included in the measurement of operating lease liabilities | $ | 25,584 | $ | 24,940 | ||||||||||
| Cash paid for amounts included in the measurement of finance lease liabilities | 429 | 349 | ||||||||||||
| Right-of-use asset obtained in exchange for new operating lease liabilities | 11,230 | 9,538 | ||||||||||||
| Right-of-use asset obtained in exchange for new finance lease liabilities | — | 1,222 | ||||||||||||
| Weighted average remaining lease term - operating leases | 9.43 years | 9.87 years | ||||||||||||
| Weighted average remaining lease term - finance leases | 34.89 | 36.49 | ||||||||||||
| Weighted average discount rate - operating leases | 4.43 | % | 4.30 | % | ||||||||||
| Weighted average discount rate - finance leases | 3.93 | 3.93 | ||||||||||||
(In thousands) | Payments | |||||||
| 2026 | $ | 24,679 | ||||||
| 2027 | 23,896 | |||||||
| 2028 | 21,925 | |||||||
| 2029 | 19,734 | |||||||
| 2030 | 13,686 | |||||||
| 2031 and thereafter | 92,705 | |||||||
| Total minimum future amounts | $ | 196,625 | ||||||
| Impact of measuring the lease liability on a discounted basis | (53,888) | |||||||
| $ | 142,737 | |||||||
136 | ||||||||
| Receipts | |||||
| 2026 | $ | 3,416 | |||
| 2027 | 2,791 | ||||
| 2028 | 1,672 | ||||
| 2029 | 1,152 | ||||
| 2030 | 690 | ||||
| 2031 and thereafter | 3,367 | ||||
| Total minimum future amounts | $ | 13,088 | |||
| Years Ended December 31, | ||||||||||||||||||||
(In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Current income taxes: | ||||||||||||||||||||
| Federal | $ | 174,157 | $ | 178,075 | $ | 165,518 | ||||||||||||||
| State | 67,604 | 52,882 | 62,948 | |||||||||||||||||
| Foreign | 7,961 | 10,076 | 13,696 | |||||||||||||||||
| Total current income taxes | $ | 249,722 | $ | 241,033 | $ | 242,162 | ||||||||||||||
| Deferred income taxes: | ||||||||||||||||||||
| Federal | $ | 43,997 | $ | 2,914 | $ | (8,245) | ||||||||||||||
| State | 942 | 7,927 | (9,750) | |||||||||||||||||
| Foreign | (98) | 170 | (1,712) | |||||||||||||||||
| Total deferred income taxes | $ | 44,841 | $ | 11,011 | $ | (19,707) | ||||||||||||||
| Total income tax expense | $ | 294,563 | $ | 252,044 | $ | 222,455 | ||||||||||||||
137 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||||
| Amount | % | Amount | % | Amount | % | |||||||||||||||||||||||||||||||||
| Income tax expense using the statutory Federal income tax rate of 21% on income before taxes | $ | 234,866 | 21.0 | % | $ | 198,889 | 21.0 | % | $ | 177,467 | 21.0 | % | ||||||||||||||||||||||||||
| Increase (decrease) from: | ||||||||||||||||||||||||||||||||||||||
State taxes, net of federal tax benefit (1) | 54,151 | 4.8 | 48,039 | 5.1 | 42,027 | 5.0 | ||||||||||||||||||||||||||||||||
| Nontaxable and nondeductible items, net: | ||||||||||||||||||||||||||||||||||||||
| Tax-exempt interest, net of interest expense disallowance | (5,266) | (0.5) | (5,338) | (0.6) | (5,348) | (0.6) | ||||||||||||||||||||||||||||||||
| Income earned on bank owned life insurance | (1,304) | (0.1) | (1,139) | (0.1) | (1,013) | (0.1) | ||||||||||||||||||||||||||||||||
| Excess tax benefits on share based compensation | (3,179) | (0.3) | (3,621) | (0.4) | (2,314) | (0.3) | ||||||||||||||||||||||||||||||||
| Meals, entertainment and related expenses | 2,900 | 0.3 | 2,823 | 0.3 | 2,439 | 0.3 | ||||||||||||||||||||||||||||||||
| FDIC insurance expense | 9,319 | 0.8 | 8,602 | 0.9 | 7,713 | 0.9 | ||||||||||||||||||||||||||||||||
| Non-deductible compensation expense | 2,822 | 0.2 | 2,587 | 0.3 | 2,147 | 0.3 | ||||||||||||||||||||||||||||||||
| Tax benefits related to tax credits, net | (5,820) | (0.5) | (4,636) | (0.5) | (3,950) | (0.5) | ||||||||||||||||||||||||||||||||
| Foreign tax effects | 5,333 | 0.5 | 6,187 | 0.7 | 3,378 | 0.4 | ||||||||||||||||||||||||||||||||
| Other, net | 741 | 0.1 | (349) | (0.1) | (91) | (0.1) | ||||||||||||||||||||||||||||||||
| Income tax expense | $ | 294,563 | 26.3 | % | $ | 252,044 | 26.6 | % | $ | 222,455 | 26.3 | % | ||||||||||||||||||||||||||
(In thousands) | 2025 | 2024 | ||||||||||||
| Deferred tax assets: | ||||||||||||||
| Allowance for credit losses | $ | 119,728 | $ | 113,648 | ||||||||||
| Net unrealized losses on securities included in other comprehensive income | 103,838 | 151,886 | ||||||||||||
| Right-of-use liability | 36,989 | 39,691 | ||||||||||||
| Deferred compensation | 36,670 | 34,850 | ||||||||||||
| Stock-based compensation | 15,571 | 14,741 | ||||||||||||
| Loans | 8,625 | 12,104 | ||||||||||||
| Net unrealized losses on derivatives included in other comprehensive income | — | 4,032 | ||||||||||||
| Federal net operating loss carryforward | 402 | 549 | ||||||||||||
| Other | 14,605 | 8,017 | ||||||||||||
| Total gross deferred tax assets | 336,428 | 379,518 | ||||||||||||
| Deferred tax liabilities: | ||||||||||||||
| Equipment Leasing | 219,927 | 165,363 | ||||||||||||
| Capitalized servicing rights | 50,363 | 52,298 | ||||||||||||
| Goodwill and intangible assets | 39,829 | 42,733 | ||||||||||||
| Premises and equipment | 35,378 | 38,554 | ||||||||||||
| Right-of-use asset | 30,680 | 32,651 | ||||||||||||
| Net unrealized gains on derivatives included in other comprehensive income | 17,449 | — | ||||||||||||
| Deferred loan fees and costs | 10,264 | 7,889 | ||||||||||||
| Other | 3,076 | 2,660 | ||||||||||||
| Total gross deferred tax liabilities | 406,966 | 342,148 | ||||||||||||
| Net deferred tax (liabilities) assets | $ | (70,538) | $ | 37,370 | ||||||||||
138 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Federal | $ | 148,000 | $ | 173,000 | $ | 165,873 | ||||||||||||||
| State and Local: | ||||||||||||||||||||
| Illinois | 33,378 | 30,502 | 38,002 | |||||||||||||||||
| All Other States | 33,119 | 25,373 | 26,469 | |||||||||||||||||
| Foreign | 7,915 | 23,976 | 1,309 | |||||||||||||||||
| Total | $ | 222,412 | $ | 252,851 | $ | 231,653 | ||||||||||||||
139 | ||||||||
| Stock Options | Common Shares | Weighted Average Strike Price | Remaining Contractual Term(1) | Intrinsic Value(2) ($000) | ||||||||||||||||||||||
Outstanding at January 1, 2023 | 68,093 | $ | 41.14 | |||||||||||||||||||||||
| Exercised | (54,993) | 40.75 | ||||||||||||||||||||||||
Outstanding at December 31, 2023 | 13,100 | $ | 42.76 | 4.2 | $ | 655 | ||||||||||||||||||||
Exercisable at December 31, 2023 | 13,100 | $ | 42.76 | 4.2 | $ | 655 | ||||||||||||||||||||
Outstanding at January 1, 2024 | 13,100 | $ | 42.76 | |||||||||||||||||||||||
| Exercised | (2,275) | 38.00 | ||||||||||||||||||||||||
Outstanding at December 31, 2024 | 10,825 | $ | 43.76 | 3.5 | $ | 876 | ||||||||||||||||||||
Exercisable at December 31, 2024 | 10,825 | $ | 43.76 | 3.5 | $ | 876 | ||||||||||||||||||||
Outstanding at January 1, 2025 | 10,825 | $ | 43.76 | |||||||||||||||||||||||
| Exercised | (5,150) | 42.61 | ||||||||||||||||||||||||
Outstanding at December 31, 2025 | 5,675 | $ | 44.81 | 2.7 | $ | 539 | ||||||||||||||||||||
Exercisable at December 31, 2025 | 5,675 | $ | 44.81 | 2.7 | $ | 539 | ||||||||||||||||||||
Vested or expected to vest at December 31, 2025 | 5,675 | $ | 44.81 | 2.7 | $ | 539 | ||||||||||||||||||||
140 | ||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
| Restricted Shares | Common Shares | Weighted Average Grant-Date Fair Value | Common Shares | Weighted Average Grant-Date Fair Value | Common Shares | Weighted Average Grant-Date Fair Value | ||||||||||||||||||||||||||||||||
| Outstanding at January 1 | 880,866 | $ | 90.95 | 746,123 | $ | 79.60 | 610,155 | $ | 73.21 | |||||||||||||||||||||||||||||
| Granted | 262,521 | 132.46 | 407,046 | 99.89 | 270,855 | 88.06 | ||||||||||||||||||||||||||||||||
| Vested and issued | (224,769) | 94.65 | (241,415) | 70.41 | (121,534) | 65.90 | ||||||||||||||||||||||||||||||||
| Forfeited or canceled | (30,220) | 110.10 | (30,888) | 95.26 | (13,353) | 83.68 | ||||||||||||||||||||||||||||||||
| Outstanding at end of year | 888,398 | $ | 101.63 | 880,866 | $ | 90.95 | 746,123 | $ | 79.60 | |||||||||||||||||||||||||||||
| Vested, but deferred, at year end | 102,218 | $ | 55.59 | 100,610 | $ | 54.46 | 98,919 | $ | 53.58 | |||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
| Performance Shares | Common Shares | Weighted Average Grant-Date Fair Value | Common Shares | Weighted Average Grant-Date Fair Value | Common Shares | Weighted Average Grant-Date Fair Value | ||||||||||||||||||||||||||||||||
| Outstanding at January 1 | 454,017 | $ | 93.57 | 553,026 | $ | 79.69 | 545,379 | $ | 70.30 | |||||||||||||||||||||||||||||
| Granted | 88,310 | 134.57 | 111,469 | 100.47 | 189,355 | 92.36 | ||||||||||||||||||||||||||||||||
| Added by performance factor at vesting | 75,461 | 96.51 | 96,952 | 58.78 | 23,925 | 62.82 | ||||||||||||||||||||||||||||||||
| Vested and issued | (230,957) | 95.26 | (295,644) | 58.69 | (186,344) | 62.67 | ||||||||||||||||||||||||||||||||
| Forfeited or canceled | (9,074) | 105.85 | (11,786) | 95.97 | (19,289) | 81.84 | ||||||||||||||||||||||||||||||||
| Outstanding at end of year | 377,757 | $ | 102.38 | 454,017 | $ | 93.57 | 553,026 | $ | 79.69 | |||||||||||||||||||||||||||||
| Vested, but deferred, at year end | 13,335 | $ | 41.21 | 21,759 | $ | 44.51 | 29,020 | $ | 45.88 | |||||||||||||||||||||||||||||
141 | ||||||||
142 | ||||||||
| 2025 | 2024 | |||||||||||||
| Total capital to risk weighted assets | 12.4 | % | 12.3 | % | ||||||||||
| Tier 1 capital to risk weighted assets | 11.0 | 10.7 | ||||||||||||
| Common Equity Tier 1 capital to risk weighted assets | 10.3 | 9.9 | ||||||||||||
| Tier 1 Leverage Ratio | 9.6 | 9.4 | ||||||||||||
143 | ||||||||
| December 31, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Actual | To Be Well Capitalized by Regulatory Definition | Actual | To Be Well Capitalized by Regulatory Definition | |||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||||||||||||||||||||||
| Total Capital (to Risk Weighted Assets): | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lake Forest Bank | $ | 913,408 | 11.7 | % | $ | 780,590 | 10.0 | % | $ | 857,438 | 11.8 | % | $ | 728,358 | 10.0 | % | ||||||||||||||||||||||||||||||||||
| Hinsdale Bank | 611,707 | 11.7 | 523,012 | 10.0 | 543,925 | 11.9 | 458,046 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Wintrust Bank | 1,102,033 | 12.5 | 879,447 | 10.0 | 1,164,532 | 12.7 | 915,950 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Libertyville Bank | 312,923 | 12.0 | 260,677 | 10.0 | 276,568 | 11.8 | 234,181 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Barrington Bank | 519,425 | 11.5 | 449,975 | 10.0 | 472,428 | 11.4 | 413,497 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Crystal Lake Bank | 218,761 | 12.3 | 177,720 | 10.0 | 187,820 | 11.8 | 159,314 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Northbrook Bank | 554,744 | 11.8 | 469,918 | 10.0 | 502,434 | 11.3 | 446,536 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Macatawa | 382,248 | 12.7 | 301,217 | 10.0 | 307,829 | 16.3 | 189,233 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Schaumburg Bank | 246,955 | 12.9 | 191,443 | 10.0 | 229,770 | 12.2 | 187,982 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Village Bank | 347,992 | 11.6 | 300,127 | 10.0 | 310,037 | 11.5 | 270,656 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Beverly Bank | 266,507 | 12.6 | 211,477 | 10.0 | 265,590 | 12.5 | 213,222 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Town Bank | 448,206 | 12.1 | 371,326 | 10.0 | 387,911 | 11.4 | 340,161 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Wheaton Bank | 406,928 | 11.3 | 358,758 | 10.0 | 347,365 | 11.4 | 304,003 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| State Bank of the Lakes | 246,346 | 12.0 | 204,907 | 10.0 | 213,869 | 11.6 | 184,932 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Old Plank Trail Bank | 311,608 | 11.8 | 265,015 | 10.0 | 271,641 | 11.3 | 241,562 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| St. Charles Bank | 334,965 | 11.4 | 292,758 | 10.0 | 291,380 | 11.2 | 259,615 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
| Tier 1 Capital (to Risk Weighted Assets): | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lake Forest Bank | $ | 858,940 | 11.0 | % | $ | 624,472 | 8.0 | % | $ | 807,848 | 11.1 | % | $ | 582,687 | 8.0 | % | ||||||||||||||||||||||||||||||||||
| Hinsdale Bank | 576,775 | 11.0 | 418,409 | 8.0 | 512,323 | 11.2 | 366,437 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Wintrust Bank | 1,012,547 | 11.5 | 703,557 | 8.0 | 1,069,171 | 11.7 | 732,760 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Libertyville Bank | 292,839 | 11.2 | 208,541 | 8.0 | 258,709 | 11.1 | 187,345 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Barrington Bank | 491,794 | 10.9 | 359,980 | 8.0 | 453,022 | 11.0 | 330,798 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Crystal Lake Bank | 204,432 | 11.5 | 142,176 | 8.0 | 176,144 | 11.1 | 127,451 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Northbrook Bank | 524,287 | 11.2 | 375,934 | 8.0 | 473,065 | 10.6 | 357,229 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Macatawa | 355,462 | 11.8 | 240,974 | 8.0 | 293,541 | 15.5 | 151,387 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Schaumburg Bank | 234,406 | 12.2 | 153,154 | 8.0 | 216,675 | 11.5 | 150,386 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Village Bank | 318,322 | 10.6 | 240,102 | 8.0 | 286,808 | 10.6 | 216,524 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Beverly Bank | 250,149 | 11.8 | 169,182 | 8.0 | 246,565 | 11.6 | 170,578 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Town Bank | 422,451 | 11.4 | 297,061 | 8.0 | 366,265 | 10.8 | 272,129 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Wheaton Bank | 382,347 | 10.7 | 287,007 | 8.0 | 323,221 | 10.6 | 243,202 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| State Bank of the Lakes | 233,269 | 11.4 | 163,925 | 8.0 | 203,972 | 11.0 | 147,946 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Old Plank Trail Bank | 292,554 | 11.0 | 212,012 | 8.0 | 255,788 | 10.6 | 193,249 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| St. Charles Bank | 315,028 | 10.8 | 234,206 | 8.0 | 270,446 | 10.4 | 207,692 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||
| Common Equity Tier 1 Capital (to Risk Weighted Assets): | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lake Forest Bank | $ | 858,940 | 11.0 | % | $ | 507,384 | 6.5 | % | $ | 807,848 | 11.1 | % | $ | 473,433 | 6.5 | % | ||||||||||||||||||||||||||||||||||
| Hinsdale Bank | 576,775 | 11.0 | 339,958 | 6.5 | 512,323 | 11.2 | 297,730 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Wintrust Bank | 1,012,547 | 11.5 | 571,640 | 6.5 | 1,069,171 | 11.7 | 595,367 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Libertyville Bank | 292,839 | 11.2 | 169,440 | 6.5 | 258,709 | 11.1 | 152,218 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Barrington Bank | 491,794 | 10.9 | 292,484 | 6.5 | 453,022 | 11.0 | 268,773 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Crystal Lake Bank | 204,432 | 11.5 | 115,518 | 6.5 | 176,144 | 11.1 | 103,554 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Northbrook Bank | 524,287 | 11.2 | 305,447 | 6.5 | 473,065 | 10.6 | 290,248 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Macatawa | 355,462 | 11.8 | 195,791 | 6.5 | 293,541 | 15.5 | 123,002 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Schaumburg Bank | 234,406 | 12.2 | 124,438 | 6.5 | 216,675 | 11.5 | 122,188 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Village Bank | 318,322 | 10.6 | 195,083 | 6.5 | 286,808 | 10.6 | 175,926 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Beverly Bank | 250,149 | 11.8 | 137,460 | 6.5 | 246,565 | 11.6 | 138,594 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Town Bank | 422,451 | 11.4 | 241,362 | 6.5 | 366,265 | 10.8 | 221,105 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Wheaton Bank | 382,347 | 10.7 | 233,193 | 6.5 | 323,221 | 10.6 | 197,602 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| State Bank of the Lakes | 233,269 | 11.4 | 133,189 | 6.5 | 203,972 | 11.0 | 120,206 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| Old Plank Trail Bank | 292,554 | 11.0 | 172,260 | 6.5 | 255,788 | 10.6 | 157,015 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
| St. Charles Bank | 315,028 | 10.8 | 190,293 | 6.5 | 270,446 | 10.4 | 168,750 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||
144 | ||||||||
| December 31, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Actual | To Be Well Capitalized by Regulatory Definition | Actual | To Be Well Capitalized by Regulatory Definition | |||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||||||||||||||||||||||
| Tier 1 Leverage Ratio: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lake Forest Bank | $ | 858,940 | 9.1 | % | $ | 472,426 | 5.0 | % | $ | 807,848 | 9.7 | % | $ | 416,233 | 5.0 | % | ||||||||||||||||||||||||||||||||||
| Hinsdale Bank | 576,775 | 9.9 | 291,840 | 5.0 | 512,323 | 9.6 | 266,427 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Wintrust Bank | 1,012,547 | 10.5 | 481,193 | 5.0 | 1,069,171 | 11.1 | 479,667 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Libertyville Bank | 292,839 | 9.4 | 156,035 | 5.0 | 258,709 | 9.5 | 136,451 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Barrington Bank | 491,794 | 10.4 | 235,898 | 5.0 | 453,022 | 10.7 | 212,429 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Crystal Lake Bank | 204,432 | 10.2 | 100,266 | 5.0 | 176,144 | 9.8 | 89,519 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Northbrook Bank | 524,287 | 9.7 | 271,425 | 5.0 | 473,065 | 9.2 | 256,737 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Macatawa | 355,462 | 10.8 | 164,001 | 5.0 | 293,541 | 10.1 | 144,975 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Schaumburg Bank | 234,406 | 10.1 | 115,689 | 5.0 | 216,675 | 10.0 | 108,031 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Village Bank | 318,322 | 9.4 | 168,839 | 5.0 | 286,808 | 9.6 | 149,062 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Beverly Bank | 250,149 | 10.1 | 123,495 | 5.0 | 246,565 | 10.1 | 122,295 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Town Bank | 422,451 | 9.5 | 221,588 | 5.0 | 366,265 | 8.9 | 205,847 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Wheaton Bank | 382,347 | 9.0 | 212,275 | 5.0 | 323,221 | 9.1 | 178,254 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| State Bank of the Lakes | 233,269 | 9.9 | 118,454 | 5.0 | 203,972 | 9.8 | 104,067 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| Old Plank Trail Bank | 292,554 | 9.1 | 161,477 | 5.0 | 255,788 | 8.9 | 143,480 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
| St. Charles Bank | 315,028 | 9.5 | 166,595 | 5.0 | 270,446 | 9.3 | 144,886 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||
145 | ||||||||
146 | ||||||||
147 | ||||||||
| Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||
| (In thousands) | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||
| Derivatives designated as hedging instruments under ASC 815: | ||||||||||||||||||||||||||
| Interest rate derivatives designated as Cash Flow Hedges | $ | 53,622 | $ | 7,329 | $ | 3,363 | $ | 56,084 | ||||||||||||||||||
| Interest rate derivatives designated as Fair Value Hedges | 5,350 | 10,001 | 496 | 87 | ||||||||||||||||||||||
| Total derivatives designated as hedging instruments under ASC 815 | $ | 58,972 | $ | 17,330 | $ | 3,859 | $ | 56,171 | ||||||||||||||||||
| Derivatives not designated as hedging instruments under ASC 815: | ||||||||||||||||||||||||||
| Interest rate derivatives | $ | 116,562 | $ | 177,553 | $ | 116,745 | $ | 183,799 | ||||||||||||||||||
| Interest rate lock commitments | 3,416 | 1,950 | — | 18 | ||||||||||||||||||||||
| Forward commitments to sell mortgage loans | 104 | 1,297 | 2,729 | 88 | ||||||||||||||||||||||
| Commodity forward contracts | 448 | 766 | 288 | 583 | ||||||||||||||||||||||
| Foreign exchange contracts | 165 | 1,131 | 153 | 1,091 | ||||||||||||||||||||||
| Total derivatives not designated as hedging instruments under ASC 815 | $ | 120,695 | $ | 182,697 | $ | 119,915 | $ | 185,579 | ||||||||||||||||||
| Total Derivatives | $ | 179,667 | $ | 200,027 | $ | 123,774 | $ | 241,750 | ||||||||||||||||||
| December 31, 2025 | ||||||||||||||||||||
| (In thousands) | Range of Maturities | Notional Amount | Fair Value Asset (Liability) | |||||||||||||||||
| Floor at 1-month CME Term SOFR | September 2028 - December 2029 | $ | 450,000 | $ | 2,095 | |||||||||||||||
| Interest rate collars at 1-month CME term SOFR | October 2026 - September 2027 | 1,750,000 | (2,208) | |||||||||||||||||
Interest rate swaps at 1-month CME term SOFR (1) | February 2026 - October 2031 | 4,650,000 | 50,372 | |||||||||||||||||
| Total Cash Flow Hedges | $ | 6,850,000 | $ | 50,259 | ||||||||||||||||
148 | ||||||||
| Years Ended December 31, | ||||||||||||||
| (In thousands) | 2025 | 2024 | ||||||||||||
| Unrealized (loss) gain at beginning of period | $ | (15,508) | $ | 43,538 | ||||||||||
| Amount reclassified from accumulated other comprehensive income or loss to interest income or expense on deposits, loans and other borrowings | 16,311 | 72,674 | ||||||||||||
| Amount of gain (loss) recognized in other comprehensive income or loss | 66,309 | (131,720) | ||||||||||||
| Unrealized gain (loss) at end of period | $ | 67,112 | $ | (15,508) | ||||||||||
149 | ||||||||
| December 31, 2025 | |||||||||||||||||||||||
(In thousands) Derivatives in Fair Value Hedging Relationships | Location in the Statement of Condition | Carrying Amount of the Hedged Assets/(Liabilities) | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) | Cumulative Amount of Fair Value Hedging Adjustment Remaining for any Hedged Assets/(Liabilities) for which Hedge Accounting has been Discontinued | |||||||||||||||||||
| Interest rate swaps | Loans, net of unearned income | $ | 113,117 | $ | (4,810) | $ | (31) | ||||||||||||||||
| Available-for-sale debt securities | 456 | (2) | — | ||||||||||||||||||||
| (In thousands) | Location of Gain or (Loss) Recognized in Income on Derivative | Year Ended December 31, | |||||||||
| Derivatives in Fair Value Hedging Relationships | 2025 | ||||||||||
| Interest rate swaps | Interest and fees on loans | $ | (7) | ||||||||
150 | ||||||||
| (In thousands) | Years Ended December 31, | |||||||||||||||||||
| Derivative | Location in income statement | 2025 | 2024 | |||||||||||||||||
| Interest rate swaps and caps | Trading gains, net | $ | (250) | $ | 59 | |||||||||||||||
| Mortgage banking derivatives | Mortgage banking | (2,004) | 952 | |||||||||||||||||
| Commodity contracts | Trading gains, net | (24) | 184 | |||||||||||||||||
| Foreign exchange contracts | Trading gains, net | 204 | (84) | |||||||||||||||||
| Covered call options | Fees from covered call options | 20,681 | 10,196 | |||||||||||||||||
| Derivative contract held as economic hedge on MSRs | Mortgage banking | 5,272 | (7,909) | |||||||||||||||||
151 | ||||||||
| Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||
| Fair Value | Fair Value | ||||||||||||||||||||||
| (In thousands) | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | |||||||||||||||||||
| Gross Amounts Recognized | $ | 175,534 | $ | 194,883 | $ | 120,604 | $ | 239,970 | |||||||||||||||
| Less: Amounts offset in the Statements of Condition | — | — | — | — | |||||||||||||||||||
| Net amount presented in the Statements of Condition | $ | 175,534 | $ | 194,883 | $ | 120,604 | $ | 239,970 | |||||||||||||||
| Gross amounts not offset in the Statements of Condition | |||||||||||||||||||||||
| Offsetting Derivative Positions | $ | (60,108) | $ | (74,656) | $ | (60,108) | $ | (74,656) | |||||||||||||||
| Collateral Posted | (46,894) | (78,550) | (1,963) | — | |||||||||||||||||||
| Net Credit Exposure | $ | 68,532 | $ | 41,677 | $ | 58,533 | $ | 165,314 | |||||||||||||||
152 | ||||||||
154 | ||||||||
| December 31, 2025 | ||||||||||||||||||||||||||
| (In thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||
| U.S. Treasury | $ | 7,035 | $ | 7,035 | $ | — | $ | — | ||||||||||||||||||
| U.S. government agencies | 47,471 | — | 47,471 | — | ||||||||||||||||||||||
| Municipal | 162,166 | — | 62,563 | 99,603 | ||||||||||||||||||||||
| Corporate notes | 77,295 | — | 77,295 | — | ||||||||||||||||||||||
| Mortgage-backed | 5,942,296 | — | 5,942,296 | — | ||||||||||||||||||||||
| Equity securities with readily determinable fair value | 63,770 | 55,704 | 8,066 | — | ||||||||||||||||||||||
| Mortgage loans held-for-sale | 340,745 | — | 286,931 | 53,814 | ||||||||||||||||||||||
| Loans held-for-investment | 151,590 | — | 95,390 | 56,200 | ||||||||||||||||||||||
| MSRs | 195,023 | — | — | 195,023 | ||||||||||||||||||||||
| Nonqualified deferred compensation assets | 18,112 | — | 18,112 | — | ||||||||||||||||||||||
| Derivative assets | 179,667 | — | 176,251 | 3,416 | ||||||||||||||||||||||
| Total | $ | 7,185,170 | $ | 62,739 | $ | 6,714,375 | $ | 408,056 | ||||||||||||||||||
| Derivative liabilities | $ | 123,774 | $ | — | $ | 123,774 | $ | — | ||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||
| (In thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||
| Available-for-sale securities | ||||||||||||||||||||||||||
| U.S. Treasury | $ | 37,907 | $ | 37,907 | $ | — | $ | — | ||||||||||||||||||
| U.S. government agencies | 44,945 | — | 44,945 | — | ||||||||||||||||||||||
| Municipal | 184,593 | — | 62,986 | 121,607 | ||||||||||||||||||||||
| Corporate notes | 81,162 | — | 81,162 | — | ||||||||||||||||||||||
| Mortgage-backed | 3,792,875 | — | 3,792,875 | — | ||||||||||||||||||||||
| Trading account securities | 4,072 | — | 4,072 | — | ||||||||||||||||||||||
| Equity securities with readily determinable fair value | 215,412 | 207,346 | 8,066 | — | ||||||||||||||||||||||
| Mortgage loans held-for-sale | 331,261 | — | 270,862 | 60,399 | ||||||||||||||||||||||
| Loans held-for-investment | 158,795 | — | 123,899 | 34,896 | ||||||||||||||||||||||
| MSRs | 203,788 | — | — | 203,788 | ||||||||||||||||||||||
| Nonqualified deferred compensation assets | 16,653 | — | 16,653 | — | ||||||||||||||||||||||
| Derivative assets | 200,027 | — | 198,077 | 1,950 | ||||||||||||||||||||||
| Total | $ | 5,271,490 | $ | 245,253 | $ | 4,603,597 | $ | 422,640 | ||||||||||||||||||
| Derivative liabilities | $ | 241,750 | $ | — | $ | 241,750 | $ | — | ||||||||||||||||||
155 | ||||||||
| (In thousands) | Municipal | Mortgage loans held-for-sale | Loans held-for-investment | MSRs | Derivative assets | ||||||||||||||||||||||||
Balance at January 1, 2025 | $ | 121,607 | $ | 60,399 | $ | 34,896 | $ | 203,788 | $ | 1,950 | |||||||||||||||||||
| Total net gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | — | 1,829 | 555 | (8,765) | 1,466 | ||||||||||||||||||||||||
| Other comprehensive income or loss | (12,178) | — | — | — | — | ||||||||||||||||||||||||
| Purchases | 42,387 | — | — | — | — | ||||||||||||||||||||||||
| Settlements | (52,213) | (105,867) | (35,591) | — | — | ||||||||||||||||||||||||
| Net transfers into Level 3 | — | 97,453 | 56,340 | — | — | ||||||||||||||||||||||||
Balance at December 31, 2025 | $ | 99,603 | $ | 53,814 | $ | 56,200 | $ | 195,023 | $ | 3,416 | |||||||||||||||||||
| (In thousands) | Municipal | Mortgage loans held-for-sale | Loans held-for-investment | MSRs | Derivative assets | ||||||||||||||||||||||||
Balance at January 1, 2024 | $ | 86,237 | $ | 26,835 | $ | 60,670 | $ | 192,456 | $ | 4,510 | |||||||||||||||||||
| Total net gains (losses) included in: | |||||||||||||||||||||||||||||
Net income (1) | — | 370 | (43) | 11,332 | (2,560) | ||||||||||||||||||||||||
| Other comprehensive income or loss | (11,212) | — | — | — | — | ||||||||||||||||||||||||
| Purchases | 84,839 | — | — | — | — | ||||||||||||||||||||||||
| Settlements | (38,257) | (48,555) | (43,525) | — | — | ||||||||||||||||||||||||
| Net transfers into Level 3 | — | 81,749 | 17,794 | — | — | ||||||||||||||||||||||||
Balance at December 31, 2024 | $ | 121,607 | $ | 60,399 | $ | 34,896 | $ | 203,788 | $ | 1,950 | |||||||||||||||||||
| December 31, 2025 | Year Ended December 31, 2025 Fair Value Losses Recognized, net | |||||||||||||||||||||||||||||||
| (In thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
| Individually assessed loans - foreclosure probable and collateral-dependent | $ | 137,209 | $ | — | $ | — | $ | 137,209 | $ | 61,222 | ||||||||||||||||||||||
Other real estate owned (1) | 20,839 | — | — | 20,839 | 2,668 | |||||||||||||||||||||||||||
| Total | $ | 158,048 | $ | — | $ | — | $ | 158,048 | $ | 63,890 | ||||||||||||||||||||||
156 | ||||||||
157 | ||||||||
| (Dollars in thousands) | Fair Value | Valuation Methodology | Significant Unobservable Input | Input / Range of Inputs | Weighted Average of Inputs | Impact to valuation from an increased or higher input value | |||||||||||||||||||||||||||||
| Measured at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||||
| Municipal securities | $ | 99,603 | Bond pricing | Equivalent rating | BBB-AA+ | N/A | Increase | ||||||||||||||||||||||||||||
| Mortgage loans held-for-sale | 53,814 | Discounted cash flows | Discount rate | 5.02 | % | 5.02 | % | Decrease | |||||||||||||||||||||||||||
| Credit discount | 0% - 35% | 0.92 | % | Decrease | |||||||||||||||||||||||||||||||
| Loans held-for-investment | 56,200 | Discounted cash flows | Discount rate | 5.02% - 6.00% | 5.12 | % | Decrease | ||||||||||||||||||||||||||||
| Credit discount | 0% - 22% | 1.51 | % | Decrease | |||||||||||||||||||||||||||||||
| Constant prepayment rate (CPR) - current loans | 9.92 | % | 9.92 | % | Decrease | ||||||||||||||||||||||||||||||
| Average life - delinquent loans (in years) | 1.4 years - 12.0 years | 5.9 years | Decrease | ||||||||||||||||||||||||||||||||
| MSRs | 195,023 | Discounted cash flows | Discount rate | 9% - 15% | 9.83 | % | Decrease | ||||||||||||||||||||||||||||
| Constant prepayment rate (CPR) | 6% - 86% | 9.92 | % | Decrease | |||||||||||||||||||||||||||||||
| Cost of servicing | $70 - $200 | $ | 76 | Decrease | |||||||||||||||||||||||||||||||
| Cost of servicing - delinquent | $200 - $1,000 | $ | 382 | Decrease | |||||||||||||||||||||||||||||||
| Derivatives | 3,416 | Discounted cash flows | Pull-through rate | 10% - 100% | 83.02 | % | Increase | ||||||||||||||||||||||||||||
| Measured at fair value on a non-recurring basis: | |||||||||||||||||||||||||||||||||||
| Individually assessed loans - foreclosure probable and collateral-dependent | 137,209 | Appraisal value | Appraisal adjustment - cost of sale | 10 | % | 10.00 | % | Decrease | |||||||||||||||||||||||||||
| Other real estate owned | 20,839 | Appraisal value | Appraisal adjustment - cost of sale | 10 | % | 10.00 | % | Decrease | |||||||||||||||||||||||||||
158 | ||||||||
| December 31, 2025 | December 31, 2024 | |||||||||||||||||||||||||
| (In thousands) | Carrying Value | Fair Value | Carrying Value | Fair Value | ||||||||||||||||||||||
| Financial Assets: | ||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 467,938 | $ | 467,938 | $ | 458,536 | $ | 458,536 | ||||||||||||||||||
| Interest-bearing deposits with banks | 3,180,553 | 3,180,553 | 4,409,753 | 4,409,753 | ||||||||||||||||||||||
| Available-for-sale securities | 6,236,263 | 6,236,263 | 4,141,482 | 4,141,482 | ||||||||||||||||||||||
| Held-to-maturity securities | 3,343,905 | 2,785,147 | 3,613,263 | 2,910,550 | ||||||||||||||||||||||
| Trading account securities | — | — | 4,072 | 4,072 | ||||||||||||||||||||||
| Equity securities with readily determinable fair value | 63,770 | 63,770 | 215,412 | 215,412 | ||||||||||||||||||||||
| FHLB and FRB stock, at cost | 291,881 | 291,881 | 281,407 | 281,407 | ||||||||||||||||||||||
| Brokerage customer receivables | — | — | 18,102 | 18,102 | ||||||||||||||||||||||
| Mortgage loans held-for-sale, at fair value | 340,745 | 340,745 | 331,261 | 331,261 | ||||||||||||||||||||||
| Loans held-for-investment, at fair value | 151,590 | 151,590 | 158,795 | 158,795 | ||||||||||||||||||||||
| Loans held-for-investment, at amortized cost | 52,953,511 | 52,383,501 | 47,896,242 | 47,070,249 | ||||||||||||||||||||||
| Nonqualified deferred compensation assets | 18,112 | 18,112 | 16,653 | 16,653 | ||||||||||||||||||||||
| Derivative assets | 179,667 | 179,667 | 200,027 | 200,027 | ||||||||||||||||||||||
| Accrued interest receivable and other | 552,197 | 552,197 | 563,625 | 563,625 | ||||||||||||||||||||||
| Total financial assets | $ | 67,780,132 | $ | 66,651,364 | $ | 62,308,630 | $ | 60,779,924 | ||||||||||||||||||
| Financial Liabilities: | ||||||||||||||||||||||||||
| Non-maturity deposits | $ | 47,839,241 | $ | 47,839,241 | $ | 43,092,318 | $ | 43,092,318 | ||||||||||||||||||
| Deposits with stated maturities | 9,877,950 | 9,890,485 | 9,420,031 | 9,423,976 | ||||||||||||||||||||||
| FHLB advances | 3,451,309 | 3,472,538 | 3,151,309 | 3,153,524 | ||||||||||||||||||||||
| Other borrowings | 477,966 | 478,072 | 534,803 | 534,406 | ||||||||||||||||||||||
| Subordinated notes | 298,636 | 296,487 | 298,283 | 286,683 | ||||||||||||||||||||||
| Junior subordinated debentures | 253,566 | 253,591 | 253,566 | 253,588 | ||||||||||||||||||||||
| Derivative liabilities | 123,774 | 123,774 | 241,750 | 241,750 | ||||||||||||||||||||||
| Accrued interest payable | 62,884 | 62,884 | 48,364 | 48,364 | ||||||||||||||||||||||
| Total financial liabilities | $ | 62,385,326 | $ | 62,417,072 | $ | 57,040,424 | $ | 57,034,609 | ||||||||||||||||||
159 | ||||||||
| 2025 | 2024 | |||||||||||||
| Common Stock: | ||||||||||||||
| Shares authorized | 100,000,000 | 100,000,000 | ||||||||||||
| Shares issued | 67,062,182 | 66,560,182 | ||||||||||||
| Shares outstanding | 66,974,913 | 66,495,227 | ||||||||||||
| Cash dividend per share | $ | 2.00 | $ | 1.80 | ||||||||||
| Preferred Stock: | ||||||||||||||
| Shares authorized | 20,000,000 | 20,000,000 | ||||||||||||
| Shares issued | 17,000 | 5,011,500 | ||||||||||||
| Shares outstanding | 17,000 | 5,011,500 | ||||||||||||
160 | ||||||||
| (In thousands) | Accumulated Unrealized Gains (Losses) on Securities | Accumulated Unrealized Gains (Losses) on Derivative Instruments | Accumulated Foreign Currency Translation Adjustments | Total Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||
| Balance at January 1, 2025 | $ | (429,580) | $ | (11,227) | $ | (67,528) | $ | (508,335) | ||||||||||||||||||
| Other comprehensive income during the period, net of tax, before reclassifications | 136,899 | 49,070 | 14,691 | 200,660 | ||||||||||||||||||||||
| Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax | (118) | 12,069 | — | 11,951 | ||||||||||||||||||||||
| Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax | (30) | — | — | (30) | ||||||||||||||||||||||
| Net other comprehensive income during the period, net of tax | $ | 136,751 | $ | 61,139 | $ | 14,691 | $ | 212,581 | ||||||||||||||||||
| Balance at December 31, 2025 | $ | (292,829) | $ | 49,912 | $ | (52,837) | $ | (295,754) | ||||||||||||||||||
| Balance at January 1, 2024 | $ | (350,697) | $ | 32,049 | $ | (42,583) | $ | (361,231) | ||||||||||||||||||
| Other comprehensive loss during the period, net of tax, before reclassifications | (77,903) | (96,872) | (24,945) | (199,720) | ||||||||||||||||||||||
| Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax | (915) | 53,596 | — | 52,681 | ||||||||||||||||||||||
| Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax | (65) | — | — | (65) | ||||||||||||||||||||||
| Net other comprehensive loss during the period, net of tax | $ | (78,883) | $ | (43,276) | $ | (24,945) | $ | (147,104) | ||||||||||||||||||
| Balance at December 31, 2024 | $ | (429,580) | $ | (11,227) | $ | (67,528) | $ | (508,335) | ||||||||||||||||||
| Balance at January 1, 2023 | $ | (386,057) | $ | 7,381 | $ | (48,960) | $ | (427,636) | ||||||||||||||||||
| Other comprehensive income (loss) during the period, net of tax, before reclassifications | 36,214 | (16,334) | 6,377 | 26,257 | ||||||||||||||||||||||
| Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax | (699) | 41,002 | — | 40,303 | ||||||||||||||||||||||
| Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax | (155) | — | — | (155) | ||||||||||||||||||||||
| Net other comprehensive income during the period, net of tax | $ | 35,360 | $ | 24,668 | $ | 6,377 | $ | 66,405 | ||||||||||||||||||
| Balance at December 31, 2023 | $ | (350,697) | $ | 32,049 | $ | (42,583) | $ | (361,231) | ||||||||||||||||||
161 | ||||||||
| Amount Reclassified from Accumulated Other Comprehensive Income or Loss for the Years Ended, | ||||||||||||||||||||||||||
| Details Regarding the Component of Accumulated Other Comprehensive Income or Loss | December 31, | Impacted Line on the Consolidated Statements of Income | ||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||
| Accumulated unrealized gains on available-for-sale securities | ||||||||||||||||||||||||||
| Gains included in net income | $ | 159 | $ | 1,236 | $ | 951 | Gains (losses) on investment securities, net | |||||||||||||||||||
| 159 | 1,236 | 951 | Income before taxes | |||||||||||||||||||||||
| Tax effect | (41) | (321) | (252) | Income tax expense | ||||||||||||||||||||||
| Net of tax | $ | 118 | $ | 915 | $ | 699 | Net income | |||||||||||||||||||
| Accumulated unrealized gains (losses) on derivative instruments | ||||||||||||||||||||||||||
| Amount reclassified to interest income on loans | $ | 29,611 | $ | 87,306 | $ | 74,616 | Interest on loans | |||||||||||||||||||
| Amount reclassified to interest expense on deposits | (13,300) | (14,632) | (19,559) | Interest on deposits | ||||||||||||||||||||||
| Amount reclassified to interest expense on other borrowings | — | — | 789 | Interest on other borrowings | ||||||||||||||||||||||
| (16,311) | (72,674) | (55,846) | Income before taxes | |||||||||||||||||||||||
| Tax effect | 4,242 | 19,078 | 14,844 | Income tax expense | ||||||||||||||||||||||
| Net of tax | $ | (12,069) | $ | (53,596) | $ | (41,002) | Net income | |||||||||||||||||||
162 | ||||||||
(In thousands) | Community Banking | Specialty Finance | Wealth Management | Total Operating Segments | Intersegment Eliminations | Consolidated | ||||||||||||||||||||||||||||||||
| 2025 | ||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 3,223,220 | $ | 420,528 | $ | 38,147 | $ | 3,681,895 | $ | 46,138 | $ | 3,728,033 | ||||||||||||||||||||||||||
| Interest expense | 1,462,186 | 41,131 | 664 | 1,503,981 | — | 1,503,981 | ||||||||||||||||||||||||||||||||
| Net interest income | 1,761,034 | 379,397 | 37,483 | 2,177,914 | 46,138 | 2,224,052 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 89,050 | 6,503 | — | 95,553 | — | 95,553 | ||||||||||||||||||||||||||||||||
| Non-interest income | 310,981 | 129,713 | 154,387 | 595,081 | (93,141) | 501,940 | ||||||||||||||||||||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||||||||||||||||||
| Salaries | 390,817 | 64,829 | 38,966 | 494,612 | 1,958 | 496,570 | ||||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 133,733 | 38,911 | 49,124 | 221,768 | — | 221,768 | ||||||||||||||||||||||||||||||||
| Benefits | 122,421 | 22,167 | 10,366 | 154,954 | — | 154,954 | ||||||||||||||||||||||||||||||||
Other segment expenses (1) | 553,208 | 96,812 | 37,681 | 687,701 | (48,961) | 638,740 | ||||||||||||||||||||||||||||||||
| Total non-interest expense | 1,200,179 | 222,719 | 136,137 | 1,559,035 | (47,003) | 1,512,032 | ||||||||||||||||||||||||||||||||
| Income before taxes | 782,786 | 279,888 | 55,733 | 1,118,407 | — | 1,118,407 | ||||||||||||||||||||||||||||||||
| Income tax expense | 206,119 | 74,589 | 13,855 | 294,563 | — | 294,563 | ||||||||||||||||||||||||||||||||
| Net income | $ | 576,667 | $ | 205,299 | $ | 41,878 | $ | 823,844 | $ | — | $ | 823,844 | ||||||||||||||||||||||||||
| Total assets at end of year | $ | 57,333,741 | $ | 12,502,367 | $ | 1,305,938 | $ | 71,142,046 | $ | — | $ | 71,142,046 | ||||||||||||||||||||||||||
| 2024 | ||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 3,001,500 | $ | 405,317 | $ | 30,765 | $ | 3,437,582 | $ | 40,015 | $ | 3,477,597 | ||||||||||||||||||||||||||
| Interest expense | 1,465,237 | 49,030 | 795 | 1,515,062 | — | 1,515,062 | ||||||||||||||||||||||||||||||||
| Net interest income | 1,536,263 | 356,287 | 29,970 | 1,922,520 | 40,015 | 1,962,535 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 88,345 | 12,702 | — | 101,047 | — | 101,047 | ||||||||||||||||||||||||||||||||
| Non-interest income | 279,845 | 119,339 | 168,134 | 567,318 | (78,993) | 488,325 | ||||||||||||||||||||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||||||||||||||||||
| Salaries | 364,144 | 61,070 | 38,989 | 464,203 | 1,769 | 465,972 | ||||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 130,516 | 36,130 | 48,873 | 215,519 | — | 215,519 | ||||||||||||||||||||||||||||||||
| Benefits | 106,994 | 18,686 | 9,937 | 135,617 | — | 135,617 | ||||||||||||||||||||||||||||||||
Other segment expenses (1) | 500,327 | 91,479 | 34,557 | 626,363 | (40,747) | 585,616 | ||||||||||||||||||||||||||||||||
| Total non-interest expense | 1,101,981 | 207,365 | 132,356 | 1,441,702 | (38,978) | 1,402,724 | ||||||||||||||||||||||||||||||||
| Income before taxes | 625,782 | 255,559 | 65,748 | 947,089 | — | 947,089 | ||||||||||||||||||||||||||||||||
| Income tax expense | 167,072 | 69,214 | 15,758 | 252,044 | — | 252,044 | ||||||||||||||||||||||||||||||||
| Net income | $ | 458,710 | $ | 186,345 | $ | 49,990 | $ | 695,045 | $ | — | $ | 695,045 | ||||||||||||||||||||||||||
| Total assets at end of year | $ | 52,500,643 | $ | 11,234,012 | $ | 1,145,013 | $ | 64,879,668 | $ | — | $ | 64,879,668 | ||||||||||||||||||||||||||
| 2023 | ||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 2,462,103 | $ | 362,035 | $ | 33,867 | $ | 2,858,005 | $ | 35,109 | $ | 2,893,114 | ||||||||||||||||||||||||||
| Interest expense | 1,021,128 | 32,991 | 1,131 | 1,055,250 | — | 1,055,250 | ||||||||||||||||||||||||||||||||
| Net interest income | 1,440,975 | 329,044 | 32,736 | 1,802,755 | 35,109 | 1,837,864 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 104,895 | 9,495 | — | 114,390 | — | 114,390 | ||||||||||||||||||||||||||||||||
| Non-interest income | 263,023 | 105,992 | 136,561 | 505,576 | (71,470) | 434,106 | ||||||||||||||||||||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||||||||||||||||||
| Salaries | 340,993 | 57,024 | 39,129 | 437,146 | 1,666 | 438,812 | ||||||||||||||||||||||||||||||||
| Commissions and incentive compensation | 110,986 | 30,395 | 40,720 | 182,101 | — | 182,101 | ||||||||||||||||||||||||||||||||
| Benefits | 100,190 | 17,070 | 9,840 | 127,100 | — | 127,100 | ||||||||||||||||||||||||||||||||
Other segment expenses (1) | 484,263 | 82,024 | 36,226 | 602,513 | (38,027) | 564,486 | ||||||||||||||||||||||||||||||||
| Total non-interest expense | 1,036,432 | 186,513 | 125,915 | 1,348,860 | (36,361) | 1,312,499 | ||||||||||||||||||||||||||||||||
| Income before taxes | 562,671 | 239,028 | 43,382 | 845,081 | — | 845,081 | ||||||||||||||||||||||||||||||||
| Income tax expense | 148,612 | 63,484 | 10,359 | 222,455 | — | 222,455 | ||||||||||||||||||||||||||||||||
| Net income | $ | 414,059 | $ | 175,544 | $ | 33,023 | $ | 622,626 | $ | — | $ | 622,626 | ||||||||||||||||||||||||||
| Total assets at end of year | $ | 44,355,786 | $ | 10,664,887 | $ | 1,239,261 | $ | 56,259,934 | $ | — | $ | 56,259,934 | ||||||||||||||||||||||||||
163 | ||||||||
| December 31, | ||||||||||||||
| (In thousands) | 2025 | 2024 | ||||||||||||
| Assets | ||||||||||||||
| Cash | $ | 281,521 | $ | 196,969 | ||||||||||
| Available-for-sale debt securities and equity securities with readily determinable fair value | 19,354 | 16,240 | ||||||||||||
| Investment in and receivable from subsidiaries | 7,399,171 | 6,674,426 | ||||||||||||
| Goodwill | 8,371 | 8,371 | ||||||||||||
| Other assets | 348,745 | 371,284 | ||||||||||||
| Total assets | $ | 8,057,162 | $ | 7,267,290 | ||||||||||
| Liabilities and Shareholders’ Equity | ||||||||||||||
| Other liabilities | $ | 190,386 | $ | 171,275 | ||||||||||
| Subordinated notes | 298,636 | 298,283 | ||||||||||||
| Other borrowings | 55,859 | 199,869 | ||||||||||||
| Junior subordinated debentures | 253,566 | 253,566 | ||||||||||||
| Shareholders’ equity | 7,258,715 | 6,344,297 | ||||||||||||
| Total liabilities and shareholders’ equity | $ | 8,057,162 | $ | 7,267,290 | ||||||||||
| Years Ended December 31, | ||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Income | ||||||||||||||||||||
| Dividends and other revenue from subsidiaries | $ | 661,436 | $ | 548,232 | $ | 433,784 | ||||||||||||||
| Other income (losses) | 4,198 | (1,781) | 1,729 | |||||||||||||||||
| Total income | $ | 665,634 | $ | 546,451 | $ | 435,513 | ||||||||||||||
| Expenses | ||||||||||||||||||||
| Interest expense | $ | 41,911 | $ | 49,306 | $ | 53,612 | ||||||||||||||
| Salaries and employee benefits | 188,657 | 159,725 | 145,011 | |||||||||||||||||
| Other expenses | 188,920 | 182,255 | 160,259 | |||||||||||||||||
| Total expenses | $ | 419,488 | $ | 391,286 | $ | 358,882 | ||||||||||||||
| Income before income taxes and equity in undistributed income of subsidiaries | $ | 246,146 | $ | 155,165 | $ | 76,631 | ||||||||||||||
| Income tax benefit | 89,010 | 79,684 | 72,260 | |||||||||||||||||
| Income before equity in undistributed net income of subsidiaries | $ | 335,156 | $ | 234,849 | $ | 148,891 | ||||||||||||||
| Equity in undistributed net income of subsidiaries | 488,688 | 460,196 | 473,735 | |||||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | ||||||||||||||
164 | ||||||||
| Years Ended December 31, | ||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Operating Activities: | ||||||||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | ||||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities | ||||||||||||||||||||
| (Losses) gains on available-for-sale debt securities and equity securities with readily determinable fair value, net | (2,442) | 913 | (442) | |||||||||||||||||
| Depreciation and amortization | 38,933 | 35,627 | 25,840 | |||||||||||||||||
| Deferred income tax benefit (expense) | 6,203 | (9,449) | (6,176) | |||||||||||||||||
| Stock-based compensation expense | 17,772 | 16,401 | 14,154 | |||||||||||||||||
| Decrease (increase) in other assets | 21,987 | (3,862) | (3,978) | |||||||||||||||||
| Increase (decrease) in other liabilities | 12,892 | 8,802 | (6,059) | |||||||||||||||||
| Equity in undistributed net income of subsidiaries | (488,688) | (460,196) | (473,735) | |||||||||||||||||
| Net Cash Provided by Operating activities | $ | 430,501 | $ | 283,281 | $ | 172,230 | ||||||||||||||
| Investing Activities: | ||||||||||||||||||||
| Net cash paid in business combination | $ | — | $ | (38) | $ | — | ||||||||||||||
| Other investing activity, net | (39,546) | (37,764) | (25,965) | |||||||||||||||||
| Net Cash Used for Investing Activities | $ | (39,546) | $ | (37,802) | $ | (25,965) | ||||||||||||||
| Financing Activities: | ||||||||||||||||||||
| Decrease in other borrowings and junior subordinated debentures, net | $ | (142,845) | $ | (30,668) | $ | (30,641) | ||||||||||||||
| Repayment of subordinated note | — | (140,000) | — | |||||||||||||||||
| Proceeds from issuance of Series F Preferred Stock, net | 414,148 | — | — | |||||||||||||||||
| Redemption of Series D and Series E Preferred Stock, net | (412,500) | — | — | |||||||||||||||||
| Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and director compensation plan | 7,220 | 6,694 | 8,309 | |||||||||||||||||
| Dividends paid | (169,423) | (143,280) | (125,690) | |||||||||||||||||
| Common stock repurchases for tax withholdings related to stock-based compensation | (3,003) | (3,936) | (1,913) | |||||||||||||||||
| Net Cash Used for Financing activities | $ | (306,403) | $ | (311,190) | $ | (149,935) | ||||||||||||||
| Net Increase (Decrease) in Cash and Cash Equivalents | $ | 84,552 | $ | (65,711) | $ | (3,670) | ||||||||||||||
| Cash and Cash Equivalents at Beginning of Year | 196,969 | 262,680 | 266,350 | |||||||||||||||||
| Cash and Cash Equivalents at End of Year | $ | 281,521 | $ | 196,969 | $ | 262,680 | ||||||||||||||
165 | ||||||||
| (In thousands, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||||||||
| Net income | $ | 823,844 | $ | 695,045 | $ | 622,626 | ||||||||||||||||||||
| Less: Preferred stock dividends | 35,644 | 27,964 | 27,964 | |||||||||||||||||||||||
| Less: Preferred stock redemption | 14,046 | — | — | |||||||||||||||||||||||
| Net income applicable to common shares | (A) | $ | 774,154 | $ | 667,081 | $ | 594,662 | |||||||||||||||||||
| Weighted average common shares outstanding | (B) | 66,896 | 63,685 | 61,149 | ||||||||||||||||||||||
| Effect of dilutive potential common shares: | ||||||||||||||||||||||||||
Common stock equivalents | 998 | 1,016 | 938 | |||||||||||||||||||||||
| Weighted average common shares and effect of dilutive potential common shares | (C) | 67,894 | 64,701 | 62,087 | ||||||||||||||||||||||
| Net income per common share: | ||||||||||||||||||||||||||
| Basic | (A/B) | $ | 11.57 | $ | 10.47 | $ | 9.72 | |||||||||||||||||||
| Diluted | (A/C) | 11.40 | 10.31 | 9.58 | ||||||||||||||||||||||
166 | ||||||||
| /s/ Timothy S. Crane | /s/ David L. Stoehr | |||||||
| Timothy S. Crane | David L. Stoehr | |||||||
| President and | Executive Vice President & | |||||||
| Chief Executive Officer | Chief Financial Officer | |||||||
167 | ||||||||
168 | ||||||||
169 | ||||||||
| EQUITY COMPENSATION PLAN INFORMATION | ||||||||||||||||||||
| Plan Category | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | Weighted-average exercise price of outstanding options, warrants and rights (b) | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | |||||||||||||||||
| Equity compensation plans approved by security holders | ||||||||||||||||||||
| WTFC 1997 Stock Incentive Plan, as amended | 85,000 | — | — | |||||||||||||||||
| WTFC 2007 Stock Incentive Plan | 2,876 | — | — | |||||||||||||||||
| WTFC 2015 Stock Incentive Plan | 23,147 | — | — | |||||||||||||||||
| WTFC 2022 Stock Incentive Plan | 1,318,422 | — | — | |||||||||||||||||
| WTFC 2025 Stock Incentive Plan | 18,921 | — | 2,185,493 | |||||||||||||||||
| WTFC Employee Stock Purchase Plan | — | — | 109,826 | |||||||||||||||||
| WTFC Directors Deferred Fee and Stock Plan | — | — | 337,499 | |||||||||||||||||
| 1,448,366 | — | 2,632,818 | ||||||||||||||||||
Equity compensation plans not approved by security holders (1) | ||||||||||||||||||||
| N/A | — | — | — | |||||||||||||||||
| Total | 1,448,366 | — | 2,632,818 | |||||||||||||||||
170 | ||||||||
| 1 | Financial Statements | ||||
| 2 | Financial Statement Schedules | ||||
| 3 | Exhibits (Exhibits marked with a “*” denote management contracts or compensatory plans or arrangements) | ||||
| Exhibit No. | Exhibit Description | ||||
| Amended and Restated Articles of Incorporation of the Company, as amended (incorporated by reference to Exhibit 3.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2006, Exhibits 3.1 and 3.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 29, 2011 and Exhibit 3.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012). | |||||
| Certificate of Designation of Wintrust Financial Corporation filed on May 9, 2025 with the Secretary of the State of Illinois designating the preferences, limitation, voting powers and relative rights of the Series F Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 14, 2025). | |||||
| Statement of Resolution of the Board or Directors of Wintrust Financial Corporation Regarding the Series D Preferred Stock (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 16, 2025). | |||||
| Statement of Resolution of the Board or Directors of Wintrust Financial Corporation Regarding the Series E Preferred Stock (incorporated by reference to Exhibit 3.2 of the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 16, 2025). | |||||
| Amended and Restated By-laws of the Company, as amended (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 1, 2024). | |||||
Description of the Company’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 4.1 of the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 28, 2024). | |||||
| 4.2 | Certain instruments defining the rights of the holders of long-term debt of the Company and certain of its subsidiaries, none of which authorize a total amount of indebtedness in excess of 10% of the total assets of the Company and its subsidiaries on a consolidated basis, have not been filed as Exhibits. The Company hereby agrees to furnish a copy of any of these agreements to the Securities and Exchange Commission upon request. | ||||
| Form of Subordinated Indenture between the Company and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.5 of the Company’s Registration Statement on Form S-3, filed with the Securities and Exchange Commission on May 6, 2020). | |||||
171 | ||||||||
| Form of Depositary Receipt (included as Exhibit A to Exhibit 4.1 hereto). | |||||
| Deposit Agreement, dated as of May 22, 2025, among Wintrust Financial Corporation, U.S. Bank Trust Company, National Association, as Depositary, and the holders from time to time of the Depositary Receipts issued thereunder (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 22, 2025). | |||||
| First Supplemental Indenture, dated June 13, 2014 between the Company and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 13, 2014). | |||||
| Second Supplemental Indenture, dated June 6, 2019 between the Company and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 6, 2019). | |||||
| Form of 4.850% Subordinated Notes due 2029 (incorporated by reference to Exhibit A in Exhibit 4.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 6, 2019). | |||||
| Amended and Restated Credit Agreement, dated as of December 12, 2022, by and among Wintrust Financial Corporation, as Borrower, the lenders who are party to the Agreement and the lenders who may become a party to the Agreement pursuant to terms hereof, as Lenders, and Wells Fargo Bank, National Association, a national banking association, as Administrative Agent for the Lenders (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on December 15, 2022). | |||||
| First Amendment, dated as of July 17, 2023 to the Credit Agreement dated December 12, 2022, as amended and restated, among the Company, the lenders named therein, and Wells Fargo Bank, National Association, as administrative agent (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 20, 2023). | |||||
| Second Amendment, dated as of December 11, 2023 to the Credit Agreement dated December 12, 2022, as amended and restated, among the Company, the lenders named therein, and Wells Fargo Bank, National Association, as administrative agent (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on December 12, 2023). | |||||
| Third Amendment, dated as of December 6, 2024 to the Credit Agreement dated December 12, 2022, as amended and restated, among the Company, the lenders named therein, and U.S. Bank, National Association, as administrative agent (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on December 10, 2024). | |||||
| Fourth Amendment, dated as of December 4, 2025 to the Credit Agreement dated December 12, 2022, as amended and restated, among the Company, the lenders named therein, and U.S. Bank, National Association, as administrative agent (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on December 8, 2025). | |||||
| Fifth Amendment, dated as of December 4, 2025 to the Credit Agreement dated December 12, 2022, as amended and restated, among the Company, the lenders named therein, and U.S. Bank, National Association, as administrative agent (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on December 8, 2025). | |||||
| Receivables Purchase Agreement, dated as of December 16, 2014, by and among First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company, in its capacity as Trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on December 19, 2014). | |||||
| First Amending Agreement to the Receivables Purchase Agreement, dated December 15, 2015, by and among First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company, in its capacity as Trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.5 of the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 29, 2016). | |||||
172 | ||||||||
| Second Amending Agreement to the Receivables Purchase Agreement, dated September 9, 2016, by and among First Insurance Funding of Canada, Inc. and CIBC Mellon Trust Company, in its capacity as Trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.9 of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28, 2018). | |||||
| Third Amending Agreement to the Receivables Purchase Agreement, dated December 15, 2017, by and among First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company, in its capacity as Trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company's Annual Report on Form 8-K filed with the Securities and Exchange Commission on December 18, 2017). | |||||
| Fourth Amending Agreement to the Receivables Purchase Agreement, dated June 29, 2018, by and among First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company, in its capacity as Trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company's Annual Report on Form 8-K filed with the Securities and Exchange Commission on July 3, 2018). | |||||
| Fifth Amending Agreement to the Receivables Purchase Agreement, dated as of February 15, 2019 by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company's Annual Report on Form 8-K filed with the Securities and Exchange Commission on February 22, 2019). | |||||
| Sixth Amending Agreement to the Receivables Purchase Agreement, dated as of May 27, 2019 by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company's Annual Report on Form 8-K filed with the Securities and Exchange Commission on May 30, 2019). | |||||
| Seventh Amending Agreement to the Receivables Purchase Agreement, date as of January 15, 2020 by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company's Annual Report on Form 8-K filed with the Securities and Exchange Commission on January 17, 2020). | |||||
| Eighth Amending Agreement to the Receivables Purchase Agreement, dated May 20, 2020, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of the PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 26, 2020). | |||||
| Ninth Amending Agreement to the Receivables Purchase Agreement, dated January 15, 2021, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of the PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 20, 2021). | |||||
| Tenth Amending Agreement to the Receivables Purchase Agreement, dated as of May 2, 2022, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 3, 2022). | |||||
| Eleventh Amending Agreement to the Receivables Purchase Agreement, dated as of May 31, 2023, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 6, 2023). | |||||
| Twelfth Amending Agreement to the Receivables Purchase Agreement, dated as of August 29, 2024, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 29, 2024). | |||||
| Thirteenth Amending Agreement to the Receivables Purchase Agreement, dated as of December 15, 2025, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust Company in its capacity as trustee of PLAZA Trust, by its Financial Service Agent, Royal Bank of Canada (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 15, 2025). | |||||
| Performance Guarantee, made as of December 16, 2014, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 19, 2014). | |||||
173 | ||||||||
| Performance Guarantee Confirmation, made as of December 15, 2017, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 18, 2017). | |||||
| Performance Guarantee Confirmation, dated as of June 28, 2018, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 3, 2018). | |||||
| Performance Guarantee Confirmation, dated as of February 15, 2019, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 22, 2019). | |||||
| Performance Guarantee Confirmation, dated as of May 27, 2019, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 30, 2019). | |||||
| Performance Guarantee Confirmation, dated as of January 15, 2020, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 17, 2020). | |||||
| Performance Guarantee Confirmation, dated as of May 20, 2020, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 26, 2020). | |||||
| Performance Guarantee Confirmation, dated as of January 15, 2021, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 20, 2021). | |||||
| Performance Guarantee Confirmation, dated as of May 2, 2022, by the Company in favor of CIBC Mellon Trust Company, in its capacity as trustee of PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 3, 2022). | |||||
| Performance Guarantee Confirmation, dated as of May 31, 2023, confirming the Performance Guarantee dates as of December 16, 2014, by and between the Company and PLAZA Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 6, 2023). | |||||
| Performance Guarantee Confirmation, dated as of August 29, 2024, confirming the Performance Guarantee dated as of December 16, 2014, by and between the Company and Plaza Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 29, 2024). | |||||
| Performance Guarantee Confirmation, dated as of December 15, 2025, confirming the Performance Guarantee dated as of December 16, 2014, by and between the Company and Plaza Trust (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 15, 2025). | |||||
| Fee Letter dated as of December 15, 2025 by CIBC Mellon Trust Company, in its capacity as trustee of Plaza Trust, by its Financial Service Agent, Royal Bank of Canada and acknowledged by First Insurance Funding of Canada Inc. (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 15, 2025). | |||||
| Junior Subordinated Indenture, dated as of August 2, 2005, between the Company and Wilmington Trust Company, as trustee (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 4, 2005). | |||||
| Amended and Restated Trust Agreement, dated as of August 2, 2005, among the Company, as depositor, Wilmington Trust Company, as property trustee and Delaware trustee, and the Administrative Trustees listed therein (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 4, 2005). | |||||
| Guarantee Agreement, dated as of August 2, 2005, between the Company, as Guarantor, and Wilmington Trust Company, as trustee (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 4, 2005). | |||||
174 | ||||||||
| Indenture, dated as of September 1, 2006, between the Company and LaSalle Bank National Association, as trustee (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 6, 2006). | |||||
| Amended and Restated Declaration of Trust, dated as of September 1, 2006, among the Company, as depositor, LaSalle Bank National Association, as institutional trustee, Christiana Bank & Trust Company, as Delaware trustee, and the Administrators listed therein (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 6, 2006). | |||||
| Guarantee Agreement, dated as of September 1, 2006, between the Company, as Guarantor, and LaSalle Bank National Association, as trustee (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 6, 2006). | |||||
| Amended and Restated Employment Agreement, dated as of January 26, 2023, between the Company and Edward J. Wehmer (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 30, 2023).* | |||||
| Amended and Restated Employment Agreement, dated December 19, 2008, between the Company and David A. Dykstra, Senior Executive Vice President and Chief Operating Officer (incorporated by reference to Exhibit 10.5 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 24, 2008).* | |||||
| Amended and Restated Employment Agreement, dated December 19, 2008, between the Company and Richard B. Murphy, Executive Vice President and Chief Credit Officer (incorporated by reference to Exhibit 10.7 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 24, 2008).* | |||||
| Amended and Restated Employment Agreement, dated December 19, 2008, between the Company and David L. Stoehr, Executive Vice President and Chief Financial Officer (incorporated by reference to Exhibit 10.6 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 24, 2008).* | ||||||||
| Amended and Restated Employment Agreement, dated as of January 26, 2023, between the Company and Timothy S. Crane (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 30, 2023).* | ||||||||
| Wintrust Financial Corporation 1997 Stock Incentive Plan (incorporated by reference to Appendix A of the Proxy Statement relating to the May 22, 1997 Annual Meeting of Shareholders of the Company).* | |||||
| First Amendment to Wintrust Financial Corporation 1997 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2000).* | |||||
| Second Amendment to Wintrust Financial Corporation 1997 Stock Incentive Plan adopted by the Board of Directors on January 24, 2002 (incorporated by reference to Exhibit 99.3 of the Company’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on July 1, 2004).* | |||||
| Third Amendment to Wintrust Financial Corporation 1997 Stock Incentive Plan adopted by the Board of Directors on May 27, 2004 (incorporated by reference to Exhibit 99.4 of the Company’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on July 1, 2004).* | |||||
| Wintrust Financial Corporation 2007 Stock Incentive Plan, as amended (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-8, filed with the Securities and Exchange Commission on November 8, 2011).* | |||||
| Wintrust Financial Corporation 2015 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 1, 2015).* | |||||
| Wintrust Financial Corporation 2022 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 27, 2022).* | |||||
| Wintrust Financial Corporation 2025 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 23, 2025).* | |||||
175 | ||||||||
| Form of Nonqualified Stock Option Agreement under the Company’s 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.31 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2006).* | |||||
| Form of Nonqualified Stock Option Agreement under the Company’s 2015 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 of the Company’s Quarter Report on Form 10-Q for the quarter ended March 31, 2016).* | |||||
| Form of Restricted Stock Unit Award, Agreement under Company’s 2015 Stock Incentive Plan (incorporated by reference to Exhibit 10.4 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021). | |||||
| Form of Performance Share Unit Award - Stock Settled under the Company's 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013).* | |||||
| Form of Performance Award Agreement - Share Settled under the Company's 2015 Stock Incentive Plan (incorporated by reference to Exhibit 10.3 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016).* | |||||
| Form of Performance Share Unit Award - Cash Settled under the Company's 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013).* | |||||
| Form of Performance Share Unit Award - Cash Settled under the Company's 2015 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016).* | |||||
| Form of Performance Share Unit Agreement - Shares Settled under the Company’s 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.25 of the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2015). | |||||
| Form of Performance Share Unit Award - Shares Settled - Deferral Option under the Company’s 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.30 of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 29, 2016).* | |||||
| Form of Performance Award Agreement - Shares Settled under Company’s 2015 Stock Incentive Plan (incorporated by reference to Exhibit 10.5 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021). | |||||
176 | ||||||||
| Form of Performance Share Unit Award - Cash Settled - Deferral Option under the Company’s 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.31 the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 29, 2016).* | |||||
| Form of Performance Share Unit Agreement - Cash Settled under the Company’s 2007 Stock Incentive Plan (incorporated by reference to Exhibit 10.26 of the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2015). | |||||
| Wintrust Financial Corporation Employee Stock Purchase Plan, as amended (incorporated by reference to Annex A of the Company's definitive Proxy Statement filed with the Securities and Exchange Commission on April 24, 2012).* | |||||
| Amended and Restated Wintrust Financial Corporation Employee Stock Purchase Plan, (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 25, 2018).* | |||||
| Second Amended and Restated Wintrust Financial Corporation Employee Stock Purchase Plan, (incorporated by reference to Annex A to the Company’s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on April 8, 2021).* | |||||
| Wintrust Financial Corporation Directors Deferred Fee and Stock Plan (incorporated by reference to Appendix B of the Proxy Statement relating to the May 24, 2001 Annual Meeting of Shareholders of the Company).* | |||||
| Wintrust Financial Corporation 2005 Directors Deferred Fee and Stock Plan, as amended and restated (incorporated by reference to Exhibit 99.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 29, 2014).* | |||||
| Form of Cash Incentive and Retention Award Agreement under the Company’s 2008 Long-Term Cash and Incentive Retention Plan with no Minimum Payout (incorporated by reference to Exhibit 10.3 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2008).* | |||||
| Form of Director Indemnification Agreement (incorporated by reference to Exhibit 10.2 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2009). | ||||||||
| Form of Officer Indemnification Agreement (incorporated by reference to Exhibit 10.3 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2009). | ||||||||
| Wintrust Financial Corporation Insider Trading and Confidentiality Policy. | ||||||||
| Subsidiaries of the Registrant. | ||||||||
| Consent of Independent Registered Public Accounting Firm. | ||||||||
| Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||||||||
| Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||||||||
| Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | ||||||||
| Policy on Recoupment of Incentive Compensation. | ||||||||
177 | ||||||||
| 101.INS | Inline XBRL Instance Document (1) | |||||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document | |||||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |||||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | |||||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |||||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | |||||||
178 | ||||||||
| WINTRUST FINANCIAL CORPORATION (Registrant) | ||||||||||||||||||||
| February 26, 2026 | By: | /s/ TIMOTHY S. CRANE | ||||||||||||||||||
| Timothy S. Crane, President and | ||||||||||||||||||||
| Chief Executive Officer | ||||||||||||||||||||
/s/ H. PATRICK HACKETT, JR. H. Patrick Hackett, Jr. | Chairman of the Board of Directors | February 26, 2026 | ||||||||||||
/s/ TIMOTHY S. CRANE Timothy S. Crane | President, Chief Executive Officer and Director (Principal Executive Officer) | February 26, 2026 | ||||||||||||
/s/ DAVID L. STOEHR David L. Stoehr | Executive Vice President and Chief Financial Officer (Principal Financial Officer) | February 26, 2026 | ||||||||||||
/s/ JEFFREY D. HAHNFELD Jeffrey D. Hahnfeld | Executive Vice President, Controller, and Chief Accounting Officer (Principal Accounting Officer) | February 26, 2026 | ||||||||||||
/s/ ELIZABETH H. CONNELLY Elizabeth H. Connelly | Director | February 26, 2026 | ||||||||||||
/s/ PETER D. CRIST Peter D. Crist | Director | February 26, 2026 | ||||||||||||
/s/ WILLIAM J. DOYLE William J. Doyle | Director | February 26, 2026 | ||||||||||||
/s/ MARLA F. GLABE Marla F. Glabe | Director | February 26, 2026 | ||||||||||||
/s/ BRIAN A. KENNEY Brian A. Kenney | Director | February 26, 2026 | ||||||||||||
/s/ LAURA A. KOHL Laura A. Kohl | Director | February 26, 2026 | ||||||||||||
/s/ DEBORAH L. HALL LEFEVRE Deborah L. Hall Lefevre | Director | February 26, 2026 | ||||||||||||
/s/ SUZET M. MCKINNEY Suzet M. McKinney | Director | February 26, 2026 | ||||||||||||
/s/ DAVID S. RICHTER David S. Richter | Director | February 26, 2026 | ||||||||||||
/s/ GREGORY A. SMITH Gregory A. Smith | Director | February 26, 2026 | ||||||||||||
/s/ KARIN GUSTAFSON TEGLIA Karin Gustafson Teglia | Director | February 26, 2026 | ||||||||||||
/s/ ALEX E. WASHINGTON, III Alex E. Washington, III | Director | February 26, 2026 | ||||||||||||
179 | ||||||||
| Subsidiary | Jurisdiction | |||||||
| Barrington Bank & Trust Company, N.A. | United States | |||||||
| Beverly Bank & Trust Company, N.A. | United States | |||||||
| Crystal Lake Bank & Trust Company, N.A. | United States | |||||||
| Chicago Deferred Exchange Company, LLC | Delaware | |||||||
| Elektra Holding Company, LLC | Delaware | |||||||
| First Insurance Funding of Canada, Inc. | Canada | |||||||
| FIFC Edge International Corporation | United States | |||||||
| Great Lakes Advisors, LLC | Delaware | |||||||
| Hinsdale Bank & Trust Company, N.A. | United States | |||||||
| Hyde Park Facilities, Inc. | Illinois | |||||||
| Lake Forest Bank & Trust Company, N.A. | United States | |||||||
| Libertyville Bank & Trust Company, N.A. | United States | |||||||
| Macatawa Bank, N.A. | United States | |||||||
| Northbrook Bank & Trust Company, N.A. | United States | |||||||
| Old Plank Trail Community Bank, N.A. | United States | |||||||
| Schaumburg Bank & Trust Company, N.A. | United States | |||||||
| St. Charles Bank & Trust Company, N.A. | United States | |||||||
| State Bank of the Lakes, N.A. | United States | |||||||
| Town Bank, N.A. | United States | |||||||
| TRICOM, Inc. of Milwaukee | Wisconsin | |||||||
| Village Bank & Trust, N.A. | United States | |||||||
| WHAMCO Holding Company | Illinois | |||||||
| Wheaton Bank and Trust Company, N.A. | United States | |||||||
| Wintrust Asset Finance Inc. | Delaware | |||||||
| Wintrust Bank, N.A. | United States | |||||||
| Wintrust Investments, L.L.C. | Delaware | |||||||
| Wintrust NMTC Investment I, LLC | Illinois | |||||||
| Wintrust NMTC Investment Fund-MBL, LLC | Illinois | |||||||
| Wintrust NMTC Investment 2, LLC | Illinois | |||||||
| Wintrust NMTC Investment Fund-WHA SoulCity, LLC | Illinois | |||||||
| Wintrust Private Trust Company, N.A. | United States | |||||||
| Community Financial Shares Statutory Trust II | Delaware | |||||||
| First Northwest Capital Trust I | Delaware | |||||||
| Northview Capital Trust I | Delaware | |||||||
| Suburban Illinois Capital Trust II | Delaware | |||||||
| Town Bankshares Capital Trust I | Delaware | |||||||
| Wintrust Capital Trust III | Delaware | |||||||
| Wintrust Statutory Trust IV | Connecticut | |||||||
| Wintrust Statutory Trust V | Connecticut | |||||||
| Wintrust Capital Trust VII | Delaware | |||||||
| Wintrust Capital Trust VIII | Delaware | |||||||
| Wintrust Capital Trust IX | Delaware | |||||||
| /s/ TIMOTHY S. CRANE | ||
| Name: Timothy S. Crane | ||
| Title: President and Chief Executive Officer | ||
| /s/ DAVID L. STOEHR | ||
Name: David L. Stoehr | ||
Title: Executive Vice President and Chief Financial Officer | ||
| /s/ TIMOTHY S. CRANE | |||||
| Name: | Timothy S. Crane | ||||
| Title: | President and Chief Executive Officer | ||||
| Date: | February 26, 2026 | ||||
| /s/ DAVID L. STOEHR | |||||
| Name: | David L. Stoehr | ||||
| Title: | Executive Vice President and Chief Financial Officer | ||||
| Date: | February 26, 2026 | ||||