Wintrust Financial reports Q4 net interest margin 3.62% vs. 3.71% last year

Reports Q4 provision for credit losses $42.9M vs. $47.6M last year. The company states: “Net charge-offs totaled $14.9M in the fourth quarter of 2023, as compared to $8.1M of net charge-offs in the third quarter of 2023. The increase in net charge-offs during the fourth quarter of 2023 was primarily the result of increased net charge-offs within the commercial and commercial real estate portfolios. Net charge-offs as a percentage of average total loans were 14 basis points in the fourth quarter of 2023 on an annualized basis compared to eight basis points on an annualized basis in the third quarter of 2023.”