AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Wintrust Takes Hits from Servicing, Derivatives.
Byline: Bonnie Sinnock
Lake Forest, IL-Wintrust Financial Corp. here expects declining market values and loan performance concerns to continue to challenge it going forward, but for the time being the company as a whole is relatively profitable and able to meet lending demand.
"We have completed a very difficult 2008 by recording a profit of $2 million in the fourth quarter and $20.5 million for the full year," said Edward J. Wehmer, president and chief executive officer.
The company took a $2.5 million loss in the third quarter and its net income during the period represented a $13.7 million decrease from the fourth quarter last year.
"While these levels are not acceptable under normal circumstances, given the current global economic conditions, recording a profit during these periods is atypical in the banking industry," Mr. Wehmer said.
A participant in the Treasury's Capital Purchase Program with 15 subsidiary community banks and the recent acquirer of certain assets and liabilities of Professional Mortgage Partners, Downers Grove, Ill., Wintrust appears to be one of the players in the market today relatively well ...
- Citizens First Corporation Announces Fourth Quarter 2008 Results.
- Press release article from: PR Newswire February 18, 2009 700+ words
...of Treasury in the fourth quarter, as a participant in the Treasury's Capital Purchase Program, strengthened...million during the fourth quarter as a result of continued...conditions improve." Fourth quarter results included a...
- Pacific Capital Bancorp Reports Fourth Quarter 2008 Financial Results.
- Press release article from: Business Wire January 29, 2009 700+ words
...loan losses in the fourth quarter. We are aggressively...million during the fourth quarter, while also building...the Treasury's Capital Purchase Program. The additional...loans during the fourth quarter," said Leis. Income...
- Comerica Reports Fourth Quarter and 2008 Earnings.
- Press release article from: PR Newswire January 22, 2009 700+ words
...79 per diluted share, for the fourth quarter 2007. Fourth quarter and full-year 2008 net income...U.S. Treasury as part of the Capital Purchase Program (the Purchase Program). Fourth quarter 2008 included a $192 million provision...
- Huntington Bancshares Reports 2008 Fourth Quarter Net Loss of $417.3 Million,...
- Press release article from: PR Newswire January 22, 2009 700+ words
...huntington.com/) reported a 2008 fourth quarter net loss of $417.3 million...the Trouble Asset Relief Program Capital Purchase Plan administered by the United States Treasury. "Fourth quarter performance was clearly disappointing...
- Synovus Reports Results for Fourth Quarter 2008.(Financial report)
- Press release article from: Business Wire January 22, 2009 700+ words
...during the fourth quarter of 2008. This...part of the Capital Purchase Program...deteriorate in the fourth quarter, credit quality...Additionally, in the fourth quarter, we received...government's Capital Purchase Program. As...
- Carrollton Bancorp Reports a Fourth Quarter Loss, Net Income for the Year and...
- Press release article from: Business Wire February 6, 2009 700+ words
...announced today its fourth quarter results and...funding from the Capital Purchase Program of...earnings for the fourth quarter of 2008 included...000 for the fourth quarter of 2007. Nonperforming...participate in the Capital Purchase Program as...
- Provident Bankshares Reports Financial Results for Fourth Quarter of 2008.
- Press release article from: PR Newswire January 27, 2009 700+ words
...interest expense in the fourth quarter of 2008 included...3 billion in the fourth quarter of 2008, compared...government's TARP Capital Purchase Program, Provident...remainder of the fourth quarter of 2008. Total average...
- BancorpSouth Announces Earnings of $0.20 per Diluted Share for Fourth Quarter...
- Press release article from: PR Newswire January 22, 2009 700+ words
...Highlights of the fourth quarter include: -- Solid profitability for the fourth quarter of 2008, with net...S. Treasury's Capital Purchase Program under the...net income for the fourth quarter of 2008 was $16...
- Comerica to Participate in the U.S. Treasury Department's Capital Purchase...
- Press release article from: PR Newswire October 27, 2008 700+ words
...participate in the Treasury's Capital Purchase Program in the amount of...percent commencing with the fourth quarter 2008 dividend (payment date...investment. A summary of the capital purchase program can be found on the...
- Bank of Commerce Holdings(TM) to participate in U.S. Treasury's Capital...
- Press release article from: PR Newswire November 13, 2008 700+ words
...S. Treasury introduced the Capital Purchase Program on October 14, 2008...is expected to occur in the fourth quarter of 2008. The preferred stock...additional detail about the Capital Purchase Program is available on the...
Source: HighBeam Research, Wintrust Takes Hits from Servicing, Derivatives.