Bill Happle

Bill Happle of Choo-Choo V Research asked about the fixed asset repricing dynamics on both the loan and security sides, specifically inquiring about roll-on and roll-off yields for both books, and the yields on new securities added to the available-for-sale portfolio.

Answer

Vice Chairman and COO David Dykstra explained that most fixed asset repricing comes from premium finance portfolios (Life Finance reprices annually based on 12-Month CMT, commercial premium finance correlates to Prime Rate over 9-10 months). He noted minimal material impact from commercial portfolio repricing on securities. President and CEO Tim Crane added that new securities were purchased at yields around the high fours to five percent level.

Bill Happle asked about the fixed asset repricing Wintrust Financial Corporation is observing on both its loan and security portfolios, requesting details on roll-on and roll-off yields. He also inquired about the yields on new securities added to the available-for-sale book.

Answer

Vice Chairman and COO David Dykstra explained that most fixed asset repricing comes from premium finance portfolios, with Life Finance repricing annually (12-month CMT + 200 bps) and Commercial Premium Finance (9-month loans) correlating to Prime. He noted minimal material impact from security portfolio repricing. David Dykstra and President and CEO Tim Crane stated that new securities added to the available-for-sale book were purchased at yields around the 5% level (high fours, five).