Condensed Parent Company Financial Statements

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Parent Company Financial Statements

Condensed Parent Company Financial Statements

Condensed parent company only financial statements of Wintrust follow:

Balance Sheets

	December 31,
(In thousands)	2012		2011
Assets
Cash	$	55,011	$	94,275
Available-for-sale securities, at fair value	9,647		489
Investment in and receivable from subsidiaries	1,935,556		1,738,484
Loans, net of unearned income	1,760		2,574
Less: Allowance for loan losses	—		664
Net Loans	1,760		1,910
Goodwill	8,347		8,347
Other assets	111,786		86,612
Total assets	$	2,122,107	$	1,930,117
Liabilities and Shareholders’ Equity
Other liabilities	$	15,899	$	20,671
Notes payable	1,000		51,000
Subordinated notes	15,000		35,000
Other borrowings	36,010		30,420
Junior subordinated debentures	249,493		249,493
Shareholders’ equity	1,804,705		1,543,533
Total liabilities and shareholders’ equity	$	2,122,107	$	1,930,117

Statements of Income

	Years Ended December 31,
(In thousands)	2012			2011			2010
Income
Dividends and interest from subsidiaries	$	47,295		$	30,783		$	15,592
Trading revenue	—			—			4,839
Gains on available-for-sale securities, net	64			164			57
Other income	605			(487		)	1,421
Total income	47,964			30,460			21,909
Expenses
Interest expense	16,840			21,342			18,667
Salaries and employee benefits	20,042			12,435			8,975
Other expenses	27,428			14,037			10,838
Total expenses	64,310			47,814			38,480
Loss before income taxes and equity in undistributed loss of subsidiaries	(16,346		)	(17,354		)	(16,571		)
Income tax benefit	23,127			16,573			8,997
Income (loss) before equity in undistributed net loss of subsidiaries	6,781			(781		)	(7,574		)
Equity in undistributed net income of subsidiaries	104,415			78,356			70,903
Net income	$	111,196		$	77,575		$	63,329

Statements of Cash Flows

	Years Ended December 31,
(In thousands)	2012			2011			2010
Operating Activities:
Net income	$	111,196		$	77,575		$	63,329
Adjustments to reconcile net income to net cash provided by (used for) operating activities
Provision for credit losses	8,050			608			905
Gains on available-for-sale securities, net	(64		)	(164		)	(57		)
Depreciation and amortization	3,072			2,178			757
Deferred income tax expense (benefit)	2,224			(1,785		)	(9,747		)
Stock-based compensation expense	9,072			2,008			1,976
Tax benefit from stock-based compensation arrangements	1,392			129			896
Excess tax benefits from stock-based compensation arrangements	(483		)	(19		)	(432		)
Decrease in trading securities, net	—			—			27,332
Increase in other assets	(53,892		)	(28,389		)	(3,071		)
(Decrease) increase in other liabilities	(1,619		)	122			(4,386		)
Equity in undistributed net income of subsidiaries	(104,415		)	(78,356		)	(70,903		)
Net Cash (Used for) Provided by Operating Activities	(25,467		)	(26,093		)	6,599
Investing Activities:
Capital contributions to subsidiaries	(53,807		)	(22,361		)	(194,524		)
Other investing activity, net	(12,284		)	440			(808		)
Net Cash Used for Investing Activities	(66,091		)	(21,921		)	(195,332		)
Financing Activities:
(Decrease) increase in notes payable and other borrowings, net	(44,887		)	36,337			43,331
Repayment of subordinated note	(20,000		)	(15,000		)	(10,000		)
Excess tax benefits from stock-based compensation arrangements	483			19			432
Redemption of Series B preferred stock	—			—			(250,000		)
Net proceeds from issuance of Series C preferred stock	122,690			—			—
Issuance of prepaid common stock purchase contracts	—			—			179,316
Issuance of common stock, net of issuance costs	—			—			315,108
Issuance of common shares resulting from exercise of stock options, employee stock purchase plan and conversion of common stock warrants	14,891			3,586			3,956
Dividends paid	(13,157		)	(10,344		)	(22,776		)
Common stock repurchases	(7,726		)	(112		)	(218		)
Net Cash Provided by Financing Activities	52,294			14,486			259,149
Net (Decrease) Increase in Cash and Cash Equivalents	(39,264		)	(33,528		)	70,416
Cash and Cash Equivalents at Beginning of Year	94,275			127,803			57,387
Cash and Cash Equivalents at End of Year	$	55,011		$	94,275		$	127,803