Wintrust Financial Corporation Announces Purchase of $570 Million Loan Portfolio From Allstate and Agrees to Become the Preferred National Lender to Allstate Agents
Wintrust Financial Corporation (WTFC)
Last wintrust financial corporation earnings: 4/21 06:15 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
ROSEMONT, Ill., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) and its wholly-owned subsidiary, Lake Forest Bank & Trust Company, N.A., today announced they have agreed to purchase approximately $570 million of loans from The Allstate Corporation (NYSE: ALL). The portfolio is comprised of approximately 1,800 loans to Allstate agents nationally, which agents use to establish and grow their businesses, as well as meet other working capital needs. In addition to acquiring the loans, Wintrust has agreed to become the national preferred provider of loans to Allstate agents. Allstate agents will have expanded lending options and services through Wintrust and be supported with its award-winning lending services. A team of Allstate agency lending specialists will join the Wintrust team, to augment and expand Wintrust’s existing insurance agency finance business. The transaction is expected to close in November 2021. Edward J. Wehmer, Founder
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News
- Wintrust Financial Corporation (NASDAQ:WTFC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Wintrust Financial Co. (NASDAQ: WTFC) had its price target lowered by analysts at Barclays PLC from $135.00 to $130.00. They now have an "overweight" rating on the stock.MarketBeat
- Wintrust Financial Co. (NASDAQ: WTFC) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Wintrust Financial Co. (NASDAQ: WTFC) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $116.00 price target on the stock.MarketBeat
- Wintrust Financial Corporation Reports Record First Quarter 2024 Net IncomeGlobeNewswire
WTFC
Earnings
- 4/17/24 - Beat
WTFC
Sec Filings
- 4/17/24 - Form 8-K
- 4/15/24 - Form 8-K
- 4/4/24 - Form ARS
- WTFC's page on the SEC website