Wintrust Profit Tops Estimates

(RTTNews) - Wintrust Financial Corp (WTFC) on Wednesday reported first-quarter net earnings of $37.5 million or $0.76 per share compared with $32.9 million or $0.68 per share last year.

The company said its net revenues for the quarter were higher at $216.4 million compared with $189.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.74 per share on revenues of $212.4 million for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter rose to $151.9 million from $144 million a year ago, and net interest margin dropped to 3.42% from 3.61% a year ago, the company said.

Its provision for credit losses for the quarter increased to $6.1 million from $1.9 million last year.