Wintrust Financial Corp (NASDAQ:WTFC) stock rose 0.47% (As on January 19, 11:22:38 AM UTC-4, Source: Google Finance) after the company missed the market’s expectations for the fourth quarter of FY 22. The company has reported net income of $144.8 million for the fourth quarter of 2022, an increase of 1% compared to the third quarter of 2022. For the fourth quarter of 2022, net interest income totaled $456.8 million, an increase of $55.4 million as compared to the third quarter of 2022. Net interest margin was 3.71% (3.73% on a fully taxable-equivalent basis, non-GAAP) during the fourth quarter of 2022 compared to 3.34% (3.35% on a fully taxable-equivalent basis, non-GAAP) during the third quarter of 2022.

Moreover, total loans increased by $1.0 billion as core loans increased by $794 million and niche loans increased by $250 million as compared to the third quarter of 2022. See Table 1 for more information. During the fourth quarter of 2022, the Company increased its investment portfolio by approximately $1.5 billion. However, certain securities were called by option holders on December 31, 2022 which resulted in the recognition of a trade date receivable of $922 million as of December 31, 2022. Total liabilities increased $408 million in the fourth quarter of 2022 as compared to the third quarter of 2022 resulting primarily from a $136 million increase in notes payable and a $105 million increase in total deposits. The Company’s loans to deposits ratio ended the quarter at 91.4%. Net charge-offs totaled $5.1 million in the fourth quarter of 2022, as compared to $3.2 million of net charge-offs in the third quarter of 2022.

WTFC in the fourth quarter of FY 22 has reported the adjusted earnings per share of $2.23, missing the analysts’ estimates for the adjusted earnings per share of $2.60, according to Zacks Investment Research. The company had reported the adjusted revenue of $550.7 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $550.9 million. The ratio of non-performing assets to total assets was 0.21% as of December 31, 2022, compared to 0.20% at September 30, 2022. Non-performing assets totaled $110.6 million at December 31, 2022, compared to $104.3 million at September 30, 2022. Non-performing loans remained relatively flat totaling $100.7 million, or 0.26% of total loans, at December 31, 2022 compared to $97.6 million, or 0.26% of total loans, at September 30, 2022.