Shareholders' Equity

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

A summary of the Company’s common and preferred stock at December 31, 2016 and 2015 is as follows:

	2016		2015
Common Stock:
Shares authorized	100,000,000		100,000,000
Shares issued	51,978,289		48,468,894
Shares outstanding	51,880,540		48,383,279
Cash dividend per share	$	0.48	$	0.44
Preferred Stock:
Shares authorized	20,000,000		20,000,000
Shares issued	5,126,257		5,126,287
Shares outstanding	5,126,257		5,126,287

The Company reserves shares of its authorized common stock specifically for the 2015 Plan, the ESPP and the DDFS. The reserved shares and these plans are detailed in Note 17 - Stock Compensation Plans and Other Employee Benefit Plans. The Company also reserves its authorized common stock for conversion of convertible preferred stock and common stock warrants.

Common Stock Offering

In June 2016, the Company issued through a public offering a total of 3,000,000 shares of its common stock. Net proceeds to the Company totaled approximately $152.9 million.

Series C Preferred Stock

In March 2012, the Company issued and sold 126,500 shares of Series C Preferred Stock for $126.5 million in a public offering. When, as and if declared, dividends on the Series C Preferred Stock are payable quarterly in arrears at a rate of 5.00% per annum. At December 31, 2016, the Series C Preferred Stock is convertible into common stock at the option of the holder at a conversion rate of 24.5569 shares of common stock per share of Series C Preferred Stock subject to customary anti-dilution adjustments. In 2016, pursuant to such terms, 30 shares of the Series C Preferred Stock were converted at the option of the respective holders into 729 shares of the Company's common stock. In 2015, pursuant to such terms, 180 shares of the Series C Preferred Stock were converted at the option of the respective holders into 4,374 shares of the Company's common stock. On and after April 15, 2017, the Company will have the right under certain circumstances to cause the Series C Preferred Stock to be converted into common stock if the closing price of the Company’s common stock exceeds a certain amount.

Series D Preferred Stock

In June 2015, the Company issued and sold 5,000,000 shares of Series D Preferred Stock for $125.0 million in a public offering. When, as and if declared, dividends on the Series D Preferred Stock are payable quarterly in arrears at a fixed rate of 6.50% per annum from the original issuance date to, but excluding, July 15, 2025, and from (and including) that date at a floating rate equal to three-month LIBOR plus a spread of 4.06% per annum.

Common Stock Warrants

Pursuant to the U.S. Department of the Treasury’s (the “U.S. Treasury”) Capital Purchase Program, on December 19, 2008, the Company issued to the U.S. Treasury a warrant to exercise 1,643,295 warrant shares of Wintrust common stock with a term of 10 years. The exercise price, subject to customary anti-dilution adjustments, was $22.71 per share at December 31, 2016. In February 2011, the U.S. Treasury sold all of its interest in the warrant issued to it in a secondary underwritten public offering. During 2016, certain holders of the interest in the warrant exercised 25,580 warrant shares, which resulted in 15,191 shares of common stock issued. At December 31, 2016, all remaining holders of the interest in the warrant were able to exercise 341,852 warrant shares.

Other

In July 2015, the Company issued 388,573 shares of its common stock in the acquisition of CFIS. In January 2015, the Company issued 422,122 shares of its common stock in the acquisition of Delavan.

At the January 2017 Board of Directors meeting, a quarterly cash dividend of $0.14 per share ($0.56 on an annualized basis) was

declared. It was paid on February 23, 2017 to shareholders of record as of February 9, 2017.

The following tables summarize the components of other comprehensive income (loss), including the related income tax effects, for the years ended December 31, 2016, 2015 and 2014:

(In thousands)	Accumulated Unrealized Losses on Securities			Accumulated Unrealized Losses on Derivative Instruments			Accumulated Foreign Currency Translation Adjustments			Total Accumulated Other Comprehensive (Loss) Income
Balance at January 1, 2016	$	(17,674	)	$	(2,193	)	$	(42,841	)	$	(62,708	)
Other comprehensive (loss) income during the period, net of tax, before reclassification	(17,554		)	4,464			2,657			(10,433		)
Amount reclassified from accumulated other comprehensive income into net income, net of tax	(4,641		)	1,894			—			(2,747		)
Amount reclassified from accumulated other comprehensive income related to amortization of unrealized losses on investment securities transferred to held-to-maturity from available-for-sale	10,560			—			—			10,560
Net other comprehensive (loss) income during the period, net of tax	$	(11,635	)	$	6,358		$	2,657		$	(2,620	)
Balance at December 31, 2016	$	(29,309	)	$	4,165		$	(40,184	)	$	(65,328	)
Balance at January 1, 2015	$	(9,533	)	$	(2,517	)	$	(25,282	)	$	(37,332	)
Other comprehensive loss during the period, net of tax, before reclassification	(8,023		)	(941		)	(17,559		)	(26,523		)
Amount reclassified from accumulated other comprehensive income into net income, net of tax	(196		)	1,265			—			1,069
Amount reclassified from accumulated other comprehensive income related to amortization of unrealized losses on investment securities transferred to held-to-maturity from available-for-sale	$	78		$	—		$	—		$	78
Net other comprehensive (loss) income during the period, net of tax	$	(8,141	)	$	324		$	(17,559	)	$	(25,376	)
Balance at December 31, 2015	$	(17,674	)	$	(2,193	)	$	(42,841	)	$	(62,708	)
Balance at January 1, 2014	$	(53,665	)	$	(2,462	)	$	(6,909	)	$	(63,036	)
Other comprehensive income (loss) during the period, net of tax, before reclassification	43,828			(1,244		)	(18,373		)	24,211
Amount reclassified from accumulated other comprehensive income, net of tax	304			1,189			—			1,493
Net other comprehensive income (loss) income during the period, net of tax	$	44,132		$	(55	)	$	(18,373	)	$	25,704
Balance at December 31, 2014	$	(9,533	)	$	(2,517	)	$	(25,282	)	$	(37,332	)

	Amount Reclassified from Accumulated Other Comprehensive Income for the Year Ended,
Details Regarding the Component of Accumulated Other Comprehensive Income	December 31,						Impacted Line on the Consolidated Statements of Income
	2016			2015
Accumulated unrealized losses on securities
Gains included in net income	$	7,645		$	323		Gains (losses) on investment securities, net
	7,645			323			Income before taxes
Tax effect	(3,004		)	(127		)	Income tax expense
Net of tax	$	4,641		$	196		Net income
Accumulated unrealized losses on derivative instruments
Amount reclassified to interest expense on deposits	$	1,345		$	252		Interest on deposits
Amount reclassified to interest expense on junior subordinated debentures	1,775			1,830			Interest on junior subordinated debentures
	(3,120		)	(2,082		)	Income before taxes
Tax effect	1,226			817			Income tax expense
Net of tax	$	(1,894	)	$	(1,265	)	Net income