Wintrust Financial Corp (NASDAQ: WTFC) stock rose 0.25% after the company posted better than expected results for the third quarter of FY 18. WTFC in the third quarter of FY 18 has reported the adjusted earnings per share of $1.57, beating the analysts’ estimates for the adjusted earnings per share of $1.54. The company had reported the adjusted revenue growth of 17.5 percent to $347.29 million in the third quarter of FY 18, beating the analysts’ estimates for revenue of $339.9 million.

Meanwhile, On August 1, 2018, the Company had completed its acquisition of Chicago Shore Corporation (“CSC”). CSC was the parent company of Delaware Place Bank. Through this transaction, the Company acquired Delaware Place Bank’s one banking location in Chicago, Illinois, approximately $280 million in assets and approximately $213 million in deposits.

During the third quarter, the total loans increased by $513 million from the prior quarter, which included $151 million of loans acquired in relation to the previously-announced acquisition of Delaware Place Bank and its parent (“Delaware Place Bank”). WTFC’s total assets now exceed $30 billion, increasing $678 million from the prior quarter. Asset growth included $280 million of assets acquired in relation to the acquisition of Delaware Place Bank. Total deposits increased by $551 million from the prior quarter to $24.9 billion. This increase included $213 million from the acquisition of Delaware Place Bank. The net interest income rose by $9.4 million from the prior quarter as a result of earning assets growth and one additional day in the quarter, partially offset by a two basis point reduction in net interest margin. The net interest margin decreased during the quarter primarily as a result of higher deposit costs from retail certificate of deposit and money market accounts, partially offset by increased yields on the loan portfolio.

WTFC expect continued organic growth in all areas of the business. Loan growth at the end of the third quarter should add to momentum into the fourth quarter as period-end loan balances exceeded the third quarter average balances by approximately $301 million. Evaluating strategic acquisitions and organic branch growth will also be a part of our overall growth strategy with the goal of becoming Chicago’s bank and Wisconsin’s bank. The Company has opened three new branches in the third quarter of 2018 and will continue to evaluate future locations in the market area.