Wintrust Financial Corporation
Form 10-K, Exhibit 12.2

Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

The following table presents the calculation of the ratio of earnings to fixed charges and preferred stock dividends for the last five years.

(dollars in thousands)

		Years ended December 31,
		2008		2007		2006		2005		2004
Income before income taxes	A	$	30,641	$	83,824	$	104,241	$	104,950	$	80,887
Interest expense:
Interest on deposits		$	219,437	$	294,914	$	265,729	$	156,252	$	83,135
Interest on other borrowings	C		50,719		55,093		43,330		34,025		20,787
Total interest expense	B	$	270,156	$	350,007	$	309,059	$	190,277	$	103,922
Dividends on preferred shares (1)	D	$	3,377	$	—	$	—	$	—	$	—
Ratio of earnings to fixed charges and preferred stock dividends:
Including deposit interest	(A+B)/(B+D)		1.10x		1.24x		1.34x		1.55x		1.78x
Excluding deposit interest	(A+C)/(C+D)		1.50x		2.52x		3.41x		4.08x		4.89x

(1) The dividends on preferred shares were increased to amounts representing the pretax earnings that would be required to cover such dividend requirements.