ROSEMONT, Ill., July 29, 2014 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq:WTFC) announced it has entered into a long term lease for the main banking hall, multiple floors, retail space and primary signage to the iconic 231 South LaSalle building.
Built in 1924, the building is located at the base of "the canyon" on the corner of LaSalle and Jackson, across from the Federal Reserve Bank and the Chicago Board of Trade. Once the home of Continental Illinois Bank, the building is considered one of the most recognizable buildings in the Loop and features a banking hall believed to be one of the largest of its kind in the world.
"As Chicago's Bank, with approximately $19 billion in assets, it's important for us to have a prominent home in the city's financial center," stated Edward Wehmer, President and CEO. "This address in the heart of the city will help us continue to grow our commercial and retail banks, mortgage and wealth management."
The building will house a retail bank and mortgage office, Wintrust Commercial Banking operations, currently at 190 South LaSalle, and Wintrust Wealth Management, with more than $19 billion in assets under administration, currently at 222 South Riverside. "This building will allow for further collaboration amongst our commercial and retail bankers, financial advisors and home loan officers to ensure each customer gets the resources and service they've come to expect from Wintrust," commented Wehmer.
"We plan to move into the building in 2015. As we do with all of our community banks, we intend for our new building to be a focal point for the community in the heart of downtown Chicago. Once we occupy the building, we'll not only schedule bank events, we'll work with local community groups and non-profits to hold events and seminars," observed Wehmer.
(Please see the following artist renditions of proposed building signage.)
Photos accompanying this release are available at
http://www.globenewswire.com/newsroom/prs/?pkgid=26768
http://www.globenewswire.com/newsroom/prs/?pkgid=26769
http://www.globenewswire.com/newsroom/prs/?pkgid=26770
About Wintrust
Wintrust is a financial holding company with assets of approximately $19 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, now with over 120 banking locations located in the greater Chicago and Milwaukee market areas. Additionally, the Company operates various non-bank business units including one of the largest commercial insurance premium finance companies operating in the United States and Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services.
Forward-Looking Information
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and actual events or results may differ materially. Wintrust's expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in Wintrust's Annual Report on Form 10-K for the most recently ended fiscal year and in any of the Company's subsequent SEC filings. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.
The photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress.
