Wintrust Financial: This Windy City Bank Is Ready To Grow
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Thu, Jul. 24, 6:12 PM
Mon, Jul. 14, 5:07 PM| Comment!
Thu, Apr. 24, 5:38 PM
Tue, Apr. 22, 8:36 PM
- A deal for Popular (BPOP) to sell its Chicago and Southern California franchises along with some Florida branches to multiple buyers could be announced as soon as tomorrow, reports the WSJ (the bank reports Q1 earnings before the bell).
- Popular's 12-branch Chicago-area franchise operates as Popular Community Bank, has more than $800M in deposits and $500M in loans, and could fetch $5M-$15M, according to Crain's, which two weeks ago reported the bank had hired RBC to manage the sale. Interested publicly traded parties looking for quick entree to Chicago's Hispanic market might include Wintrust Financial (WTFC), PrivateBancorp (PVTB), and First Midwest Bancorp (FMBI).
- The Southern California branches have a deposit base of $1.2B.
- Hit as hard as the next guy by the U.S. financial panic, Popular has also had to deal with the Puerto Rico's economic crisis in the years since, and has been shrinking mainland U.S. operations to shore up its balance sheet. The bank still owes $935M in bailout funds it received in 2008, and awaits word from the FRBNY over whether its application to repay those monies has been approved.
Tue, Apr. 15, 4:04 PM| Comment!
Tue, Apr. 1, 2:49 PM
- Launching coverage on a host of financial names with Neutral today, SunTrust Robinson Humphrey does start two stocks with a Buy, and they're on the move: Pinnacle Financial (PNFP +2.7%) and Signature Bank (SBNY +2.6%). Both have stood out to the sell-side in the past for being among the few organic growth names in banks.
- Started at Neutral: Associated Banc-Corp (ASBC), Independent Bank (INDB), MB FInancial (MBFI), Old National (ONB), Piper Jarray (PJC -0.9%), Private Bancorp (PVTB), Wintrust Financial (WTFC), First Midwest (FMBI), and Fulton Financial (FULT).
Thu, Jan. 23, 4:42 PM
Tue, Jan. 21, 4:46 PM
Oct. 23, 2013, 3:50 PM
- U.S. Bancorp (USB), FIfth Third (FITB), WIntrust Financial (WTFC), FIrstMerit (FMER), and PrivateBancorp (PVTB) are reportedly the five bidders for 105 Chicago branches being sold by RBS's Citizen's Financial. They could fetch about $500M, according to those in the know.
- The sale would include $6B in deposits and $2.4B in loans. Bids are due in early November.
- RBS is under pressure from the U.K. government to raise capital by unloading noncore assets, and has thus far resisted selling the entire Citizen's operation.
Oct. 14, 2013, 4:08 PM
Aug. 7, 2013, 3:59 PM
- It's harvest time in the banking sector for private equity - which racked up median gains of more than 50% investing in a slew of banks between 2008 and 2010, according to KBW.
- Among those where P-E is now a seller: Boston Private Financial (BPFH), First Republic Bank (FRC), Webster Financial (WBS), Wintrust Financial (WTFC).
- The biggest gains - topping 100% - were in BankUnited (BKU), Bridge Capital (BBNK), First Merchants (FRME), and Sterling Financial (STSA).
- No one bats 100% and P-E is under water in Capital Bank (CBF), Flagstar (FBC), Porter (PBIB), and Sun Bancorp (SNBC).
Jul. 25, 2013, 6:15 PM
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Jan. 24, 2013, 5:45 PM
Jan. 17, 2013, 4:10 PM
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