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News Release FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT : Edward J. Wehmer , Founder & Chief Executive Officer David A. Dykstra , Vice Chairman & Chief Operating Officer ( 847 ) 939-9000 Web site address : www.wintrust.com ● Wintrust Financial Corporation 9700 W. Higgins Road , Suite 800 , Rosemont , Illinois 60018 ● ROSEMONT , ILLINOIS Wintrust Financial Corporation ( " Wintrust " , " the Company " , " we " or " our " ) ( Nasdaq : WTFC ) announced net income of $ 109.1 million or $ 1.77 per diluted common share for the third quarter of 2021 , an increase in diluted earnings per common share of 4 % compared to the second quarter of 2021 and an increase of 6 % compared to the third quarter of 2020. The Company recorded net income of $ 367.4 million or $ 6.00 per diluted common share for the first nine months of 2021 compared to net income of $ 191.8 million or $ 3.06 per diluted common share for the same period of 2020 . Wintrust Financial Corporation Reports Third Quarter 2021 Net Income of $ 109.1 million and Year - To - Date Net Income of $ 367.4 million Highlights of the Third Quarter of 2021 : Comparative information to the second quarter of 2021 Total loans , excluding Paycheck Protection Program ( " PPP " ) loans , increased by $ 1.2 billion , or 15 % on an annualized basis . Exhibit 99.1 0 October 19 , 2021 O Core loans increased by $ 701 million and niche loans increased by $ 449 million . See Table 1 for more information . PPP loans declined by $ 797 million in the third quarter of 2021 primarily as a result of processing forgiveness payments . Total assets increased by $ 1.1 billion . Total deposits increased by $ 1.1 billion , including a $ 459 million increase in non - interest bearing deposits . Net interest income increased by $ 7.9 million as compared to the second quarter of 2021 as follows : Increased $ 16.3 million primarily due to earning asset growth and a nine basis point decline in deposit costs . Increased $ 3.0 million due to one additional day in the quarter . Decreased by $ 11.4 million due to $ 3.6 million of less PPP interest income and $ 7.8 million of less PPP fee income . O Net interest margin decreased by four basis points primarily due to increased liquidity . Recorded no material net charge - offs in the third quarter of 2021 as compared to very minimal net charge - offs of $ 1.9 million in the second quarter of 2021 . Recorded a negative provision for credit losses of $ 7.9 million in the third quarter of 2021 as compared to a negative provision for credit losses of $ 15.3 million in the second quarter of 2021 . The allowance for credit losses on our core loan portfolio is approximately 1.38 % of the outstanding balance as of September 30 , 2021 , down from 1.49 % as of June 30 , 2021. See Table 12 for more information . Non - performing loans remained low at 0.27 % of total loans , as of September 30 , 2021 , unchanged from the second quarter of 2021 . Mortgage banking revenue increased to $ 55.8 million for the third quarter of 2021 as compared to $ 50.6 million in the second quarter of 2021 . Tangible book value per common share ( non - GAAP ) increased to $ 58.32 as compared to $ 56.92 as of June 30 , 2021. See Table 18 for reconciliation of non - GAAP measures . Repurchased 134,062 shares of our common stock at a cost of $ 9.5 million , or an average price of $ 71.13 per share . Edward J. Wehmer , Founder and Chief Executive Officer , commented , " The third quarter of 2021 was characterized by significant organic loan and deposit growth , increased net interest income , strong mortgage banking revenue , record wealth management revenue , tangible book value growth and very good credit quality metrics . Wintrust reported net income of $ 109.1