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Regulatory Matters | 12 Months Ended
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Dec. 31, 2022
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] |
Regulatory Matters | Regulatory Matters Banking laws place restrictions upon the amount of dividends that can be paid to Wintrust by the banks. Based on these laws, the banks could, subject to minimum capital requirements, declare dividends to Wintrust without obtaining regulatory approval in an amount not exceeding (a) undivided profits, and (b) the amount of net income reduced by dividends paid for the current and prior two years. During 2022, 2021 and 2020, cash dividends totaling $52.0 million, $145.0 million and $253.0 million, respectively, were paid to Wintrust by the banks and other subsidiaries. As of December 31, 2022, the banks had approximately $703.8 million available to be paid as dividends to Wintrust without prior regulatory approval and without reducing their capital below the well-capitalized level. The banks are also required by the Federal Reserve Act to maintain reserves against deposits. Reserves are held either in the form of vault cash or balances maintained with the FRB and are based on the average daily deposit balances and statutory reserve ratios prescribed by the type of deposit account. In March 2020, the FRB adopted a rule to amend its reserve regulation which included lowering the reserve requirement to zero percent. As a result, at December 31, 2022, 2021, and 2020 there were no reserve balances required to be maintained at the FRB. The Company and the banks are subject to various regulatory capital requirements established by the federal banking agencies that take into account risk attributable to balance sheet and off-balance sheet activities. Failure to meet minimum capital requirements can initiate certain mandatory — and possibly discretionary — actions by regulators, that if undertaken could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the banks must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Quantitative measures established by regulation to ensure capital adequacy require the Company and the banks to maintain minimum amounts and ratios of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and Tier 1 leverage capital (as defined) to average quarterly assets (as defined). The Federal Reserve’s capital guidelines require bank holding companies to maintain a minimum ratio of qualifying total capital to risk-weighted assets of 8.0%, of which at least 4.50% must be in the form of Common Equity Tier 1 capital and 6.0% must be in the form of Tier 1 capital. The Federal Reserve also requires a minimum leverage ratio of Tier 1 capital to average total assets of 4.0%. In addition, the Federal Reserve continues to consider the Tier 1 leverage ratio in evaluating proposals for expansion or new activities. As reflected in the following table, the Company met all minimum capital requirements at December 31, 2022 and 2021:
|  | 2022 |  | 2021
Total capital to risk weighted assets |  | 11.9 | % |  | 11.6 | %
Tier 1 capital to risk weighted assets |  | 10.0 |  |  | 9.6 |
Common Equity Tier 1 capital to risk weighted assets |  | 9.1 |  |  | 8.6 |
Tier 1 Leverage Ratio |  | 8.8 |  |  | 8.0 |
Wintrust is designated as a financial holding company. Bank holding companies approved as financial holding companies may engage in an expanded range of activities, including the businesses conducted by its wealth management subsidiaries. As a financial holding company, Wintrust’s banks are required to maintain their capital positions at the “well-capitalized” level. As of December 31, 2022, the banks were categorized as well capitalized under the regulatory framework for prompt corrective action. The ratios required for the banks to be “well capitalized” by regulatory definition are 10.0%, 8.0%, 6.5% and 5.0% for total capital to risk-weighted assets, Tier 1 capital to risk-weighted assets, Common Equity Tier 1 capital to risk weighted assets and Tier 1 leverage ratio, respectively. The banks’ actual capital amounts and ratios as of December 31, 2022 and 2021 are presented in the following table:
|  | December 31, 2022 |  | December 31, 2021
|  | Actual |  | To Be Well Capitalized by Regulatory Definition |  | Actual |  | To Be Well Capitalized by Regulatory Definition
(Dollars in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lake Forest Bank |  | $ | 725,384 |  |  | 11.4 | % |  | $ | 638,871 |  |  | 10.0 | % |  | $ | 614,942 |  |  | 11.1 | % |  | $ | 552,325 |  |  | 10.0 | %
Hinsdale Bank |  | 441,317 |  |  | 11.7 |  |  | 378,007 |  |  | 10.0 |  |  | 370,363 |  |  | 11.3 |  |  | 327,716 |  |  | 10.0 |
Wintrust Bank |  | 1,084,435 |  |  | 12.0 |  |  | 907,101 |  |  | 10.0 |  |  | 905,629 |  |  | 11.2 |  |  | 810,711 |  |  | 10.0 |
Libertyville Bank |  | 242,482 |  |  | 12.0 |  |  | 201,695 |  |  | 10.0 |  |  | 203,893 |  |  | 11.4 |  |  | 179,719 |  |  | 10.0 |
Barrington Bank |  | 387,113 |  |  | 11.5 |  |  | 337,499 |  |  | 10.0 |  |  | 362,019 |  |  | 11.6 |  |  | 313,373 |  |  | 10.0 |
Crystal Lake Bank |  | 154,891 |  |  | 11.4 |  |  | 136,419 |  |  | 10.0 |  |  | 139,059 |  |  | 11.4 |  |  | 121,722 |  |  | 10.0 |
Northbrook Bank |  | 409,571 |  |  | 11.3 |  |  | 362,342 |  |  | 10.0 |  |  | 338,912 |  |  | 11.2 |  |  | 303,915 |  |  | 10.0 |
Schaumburg Bank |  | 169,428 |  |  | 11.3 |  |  | 149,425 |  |  | 10.0 |  |  | 148,108 |  |  | 11.0 |  |  | 134,208 |  |  | 10.0 |
Village Bank |  | 256,537 |  |  | 11.3 |  |  | 226,399 |  |  | 10.0 |  |  | 219,017 |  |  | 11.0 |  |  | 198,923 |  |  | 10.0 |
Beverly Bank |  | 223,808 |  |  | 11.5 |  |  | 195,237 |  |  | 10.0 |  |  | 189,349 |  |  | 11.4 |  |  | 166,645 |  |  | 10.0 |
Town Bank |  | 314,351 |  |  | 11.3 |  |  | 278,704 |  |  | 10.0 |  |  | 273,185 |  |  | 11.3 |  |  | 241,598 |  |  | 10.0 |
Wheaton Bank |  | 285,606 |  |  | 11.6 |  |  | 247,015 |  |  | 10.0 |  |  | 245,045 |  |  | 11.4 |  |  | 215,507 |  |  | 10.0 |
State Bank of the Lakes |  | 167,023 |  |  | 11.3 |  |  | 147,369 |  |  | 10.0 |  |  | 145,438 |  |  | 11.3 |  |  | 129,304 |  |  | 10.0 |
Old Plank Trail Bank |  | 211,437 |  |  | 11.5 |  |  | 183,269 |  |  | 10.0 |  |  | 190,402 |  |  | 11.5 |  |  | 165,493 |  |  | 10.0 |
St. Charles Bank |  | 211,132 |  |  | 11.3 |  |  | 186,623 |  |  | 10.0 |  |  | 183,726 |  |  | 11.4 |  |  | 161,563 |  |  | 10.0 |
Tier 1 Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lake Forest Bank |  | $ | 689,320 |  |  | 10.8 | % |  | $ | 511,097 |  |  | 8.0 | % |  | $ | 586,701 |  |  | 10.6 | % |  | $ | 441,860 |  |  | 8.0 | %
Hinsdale Bank |  | 416,762 |  |  | 11.0 |  |  | 302,406 |  |  | 8.0 |  |  | 352,916 |  |  | 10.8 |  |  | 262,173 |  |  | 8.0 |
Wintrust Bank |  | 1,004,271 |  |  | 11.1 |  |  | 725,681 |  |  | 8.0 |  |  | 844,613 |  |  | 10.4 |  |  | 648,569 |  |  | 8.0 |
Libertyville Bank |  | 225,766 |  |  | 11.2 |  |  | 161,356 |  |  | 8.0 |  |  | 191,716 |  |  | 10.7 |  |  | 143,775 |  |  | 8.0 |
Barrington Bank |  | 373,830 |  |  | 11.1 |  |  | 269,999 |  |  | 8.0 |  |  | 353,629 |  |  | 11.3 |  |  | 250,698 |  |  | 8.0 |
Crystal Lake Bank |  | 145,514 |  |  | 10.7 |  |  | 109,135 |  |  | 8.0 |  |  | 131,730 |  |  | 10.8 |  |  | 97,378 |  |  | 8.0 |
Northbrook Bank |  | 383,691 |  |  | 10.6 |  |  | 289,874 |  |  | 8.0 |  |  | 320,243 |  |  | 10.5 |  |  | 243,132 |  |  | 8.0 |
Schaumburg Bank |  | 160,061 |  |  | 10.7 |  |  | 119,540 |  |  | 8.0 |  |  | 141,228 |  |  | 10.5 |  |  | 107,367 |  |  | 8.0 |
Village Bank |  | 238,246 |  |  | 10.5 |  |  | 181,120 |  |  | 8.0 |  |  | 206,828 |  |  | 10.4 |  |  | 159,138 |  |  | 8.0 |
Beverly Bank |  | 206,714 |  |  | 10.6 |  |  | 156,189 |  |  | 8.0 |  |  | 179,487 |  |  | 10.8 |  |  | 133,316 |  |  | 8.0 |
Town Bank |  | 297,499 |  |  | 10.7 |  |  | 222,963 |  |  | 8.0 |  |  | 262,859 |  |  | 10.9 |  |  | 193,278 |  |  | 8.0 |
Wheaton Bank |  | 269,366 |  |  | 10.9 |  |  | 197,612 |  |  | 8.0 |  |  | 234,218 |  |  | 10.9 |  |  | 172,405 |  |  | 8.0 |
State Bank of the Lakes |  | 159,399 |  |  | 10.8 |  |  | 117,895 |  |  | 8.0 |  |  | 138,266 |  |  | 10.7 |  |  | 103,443 |  |  | 8.0 |
Old Plank Trail Bank |  | 201,864 |  |  | 11.0 |  |  | 146,615 |  |  | 8.0 |  |  | 177,956 |  |  | 10.8 |  |  | 132,394 |  |  | 8.0 |
St. Charles Bank |  | 200,910 |  |  | 10.8 |  |  | 149,299 |  |  | 8.0 |  |  | 174,516 |  |  | 10.8 |  |  | 129,250 |  |  | 8.0 |
Common Equity Tier 1 Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |
Lake Forest Bank |  | $ | 689,320 |  |  | 10.8 | % |  | $ | 415,266 |  |  | 6.5 | % |  | $ | 586,701 |  |  | 10.6 | % |  | $ | 359,011 |  |  | 6.5 | %
Hinsdale Bank |  | 416,762 |  |  | 11.0 |  |  | 245,705 |  |  | 6.5 |  |  | 352,916 |  |  | 10.8 |  |  | 213,015 |  |  | 6.5 |
Wintrust Bank |  | 1,004,271 |  |  | 11.1 |  |  | 589,616 |  |  | 6.5 |  |  | 844,613 |  |  | 10.4 |  |  | 526,962 |  |  | 6.5 |
Libertyville Bank |  | 225,766 |  |  | 11.2 |  |  | 131,102 |  |  | 6.5 |  |  | 191,716 |  |  | 10.7 |  |  | 116,817 |  |  | 6.5 |
Barrington Bank |  | 373,830 |  |  | 11.1 |  |  | 219,374 |  |  | 6.5 |  |  | 353,629 |  |  | 11.3 |  |  | 203,692 |  |  | 6.5 |
Crystal Lake Bank |  | 145,514 |  |  | 10.7 |  |  | 88,673 |  |  | 6.5 |  |  | 131,730 |  |  | 10.8 |  |  | 79,119 |  |  | 6.5 |
Northbrook Bank |  | 383,691 |  |  | 10.6 |  |  | 235,522 |  |  | 6.5 |  |  | 320,243 |  |  | 10.5 |  |  | 197,545 |  |  | 6.5 |
Schaumburg Bank |  | 160,061 |  |  | 10.7 |  |  | 97,126 |  |  | 6.5 |  |  | 141,228 |  |  | 10.5 |  |  | 87,235 |  |  | 6.5 |
Village Bank |  | 238,246 |  |  | 10.5 |  |  | 147,160 |  |  | 6.5 |  |  | 206,828 |  |  | 10.4 |  |  | 129,300 |  |  | 6.5 |
Beverly Bank |  | 206,714 |  |  | 10.6 |  |  | 126,904 |  |  | 6.5 |  |  | 179,487 |  |  | 10.8 |  |  | 108,319 |  |  | 6.5 |
Town Bank |  | 297,499 |  |  | 10.7 |  |  | 181,157 |  |  | 6.5 |  |  | 262,859 |  |  | 10.9 |  |  | 157,039 |  |  | 6.5 |
Wheaton Bank |  | 269,366 |  |  | 10.9 |  |  | 160,559 |  |  | 6.5 |  |  | 234,218 |  |  | 10.9 |  |  | 140,079 |  |  | 6.5 |
State Bank of the Lakes |  | 159,399 |  |  | 10.8 |  |  | 95,790 |  |  | 6.5 |  |  | 138,266 |  |  | 10.7 |  |  | 84,048 |  |  | 6.5 |
Old Plank Trail Bank |  | 201,864 |  |  | 11.0 |  |  | 119,125 |  |  | 6.5 |  |  | 177,956 |  |  | 10.8 |  |  | 107,571 |  |  | 6.5 |
St. Charles Bank |  | 200,910 |  |  | 10.8 |  |  | 121,305 |  |  | 6.5 |  |  | 174,516 |  |  | 10.8 |  |  | 105,016 |  |  | 6.5 |
|  | December 31, 2022 |  | December 31, 2021
|  | Actual |  | To Be Well Capitalized by Regulatory Definition |  | Actual |  | To Be Well Capitalized by Regulatory Definition
(Dollars in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Tier 1 Leverage Ratio: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lake Forest Bank |  | $ | 689,320 |  |  | 8.8 | % |  | $ | 391,452 |  |  | 5.0 | % |  | $ | 586,701 |  |  | 8.3 | % |  | $ | 353,846 |  |  | 5.0 | %
Hinsdale Bank |  | 416,762 |  |  | 9.5 |  |  | 220,373 |  |  | 5.0 |  |  | 352,916 |  |  | 8.8 |  |  | 200,228 |  |  | 5.0 |
Wintrust Bank |  | 1,004,271 |  |  | 10.7 |  |  | 469,415 |  |  | 5.0 |  |  | 844,613 |  |  | 9.2 |  |  | 461,082 |  |  | 5.0 |
Libertyville Bank |  | 225,766 |  |  | 9.3 |  |  | 121,475 |  |  | 5.0 |  |  | 191,716 |  |  | 8.5 |  |  | 112,448 |  |  | 5.0 |
Barrington Bank |  | 373,830 |  |  | 10.3 |  |  | 181,212 |  |  | 5.0 |  |  | 353,629 |  |  | 10.9 |  |  | 162,392 |  |  | 5.0 |
Crystal Lake Bank |  | 145,514 |  |  | 9.5 |  |  | 76,780 |  |  | 5.0 |  |  | 131,730 |  |  | 9.7 |  |  | 67,711 |  |  | 5.0 |
Northbrook Bank |  | 383,691 |  |  | 9.1 |  |  | 211,521 |  |  | 5.0 |  |  | 320,243 |  |  | 8.5 |  |  | 188,424 |  |  | 5.0 |
Schaumburg Bank |  | 160,061 |  |  | 9.3 |  |  | 86,409 |  |  | 5.0 |  |  | 141,228 |  |  | 9.0 |  |  | 78,938 |  |  | 5.0 |
Village Bank |  | 238,246 |  |  | 9.7 |  |  | 123,484 |  |  | 5.0 |  |  | 206,828 |  |  | 9.2 |  |  | 111,885 |  |  | 5.0 |
Beverly Bank |  | 206,714 |  |  | 10.0 |  |  | 103,759 |  |  | 5.0 |  |  | 179,487 |  |  | 9.9 |  |  | 90,265 |  |  | 5.0 |
Town Bank |  | 297,499 |  |  | 8.4 |  |  | 176,660 |  |  | 5.0 |  |  | 262,859 |  |  | 7.9 |  |  | 166,487 |  |  | 5.0 |
Wheaton Bank |  | 269,366 |  |  | 9.0 |  |  | 148,942 |  |  | 5.0 |  |  | 234,218 |  |  | 8.1 |  |  | 144,949 |  |  | 5.0 |
State Bank of the Lakes |  | 159,399 |  |  | 9.1 |  |  | 88,065 |  |  | 5.0 |  |  | 138,266 |  |  | 8.5 |  |  | 81,475 |  |  | 5.0 |
Old Plank Trail Bank |  | 201,864 |  |  | 8.7 |  |  | 115,692 |  |  | 5.0 |  |  | 177,956 |  |  | 8.2 |  |  | 108,332 |  |  | 5.0 |
St. Charles Bank |  | 200,910 |  |  | 9.6 |  |  | 104,431 |  |  | 5.0 |  |  | 174,516 |  |  | 9.1 |  |  | 95,638 |  |  | 5.0 |
Wintrust’s mortgage banking division and broker/dealer subsidiary are also required to maintain minimum net worth capital requirements with various governmental agencies. The mortgage banking division’s net worth requirements are governed by the Department of Housing and Urban Development and the broker/dealer’s net worth requirements are governed by the SEC. As of December 31, 2022, these business units met their minimum net worth capital requirements.

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