WTFC
#<UNK>, this is <UNK>.
If you look at our overall loan portfolio, we've got about roughly 29% of our loans are tied to 1-month LIBOR.
Another roughly 15% to 16% are tied to 12-month LIBOR and that's primarily our life insurance premium finance portfolio.
They reprice once a year, based upon the 12-month LIBOR predominantly.
Then we've also got about 16%, 17% of our loans that are tied to the prime rate, and about a third of the portfolio is fixed.
And then the rest ---+ a few percent is tied to 3-month LIBOR and that's about it.
So if you boil that down, about 29% is 1-month LIBOR and 15%, 16% is 12-month and 16%-ish is prime.
So those are ---+
Yes.
We ended June, really with cash and Fed funds about $700 million.
In September, we were probably about $820 million or so.
So we had a little bit more cash on the books.
Our securities portfolio stayed roughly the same, but there's a fair amount of prepayments on the agency securities, and some of those were at premium.
So you're seeing a little bit of headwinds on premium amortization on government agency securities that we hold in the book, and rates have been down, so the reinvestment of those hasn't been real full.
Just some headwinds on that portfolio.
But we are slightly more liquid, as Ed mentioned earlier, than we were last quarter.
We don't get real excited about 1.5% mortgage-backed securities.
Brad, I don't have it handy with me right here.
I don't want to misspeak.
But I tell you what, we'll make sure we mention it in the Q.
No, not really.
We saw some pick-up in our loan yields this quarter.
I think where you saw the pressure over the last year was we still had stuff going out the back door, so to speak, with older deals that were higher priced that matured or got refinanced.
So that was a fair amount of our pressure on the margin, over the last year.
But we're seeing the rates go up.
We are seeing rates go up.
Remember too, we're bleeding off accretion, Brad.
I think ---+ we will have to go through that, but we ---+ spreads are relatively the same, what they've been.
They're a little bit better.
I think a lot of it might be accretion.
We'll have to look at that, and again, we'll get back to you on that.
Well, you got to look at, see what happens, goes down with mortgages too and where that goes.
Our pipeline is as strong as it's ever been.
Notwithstanding niche pipelines, which are all very strong, our commercial real estate pipeline is about $1.5 billion on a weighted basis, a little over $900 million for the next 90 days.
That's consistent with back to the second ---+ the pipeline goes down in the third quarter basically, as guys play golf and use the good weather, and the fourth quarter it basically usually pops up, it's one of our busier quarters.
I would expect us to have reasonable loan growth the fourth quarter.
Our loan to deposit ratio could pick up, with mortgages held or sale and covered is right around 89.8%, and it's an area we're comfortable with.
So having it grow proportionately now, with deposits and loans, would be fine.
I think it's a reasonable expectation.
Just a tiny bit of capacity with the acquisition that should close.
Oh, yes.
I mean, the other ones, there's no cross sale.
There's really no ability to do anything.
There's commission-based businesses.
The premium enhanced P&C business is commission based, but you really ---+ that would show up pretty quick if anything was going on there.
You've got to book the loans and we do due diligence on those.
That would be hard.
On the mortgage side, same thing, with all the work you do now on mortgages, it's hard to get anything to fall through those cracks.
Yes, this is the nature of those businesses and how they work.
We don't have any other cross-sales or any special bonus initiatives for bringing business on the books.
It's all commission-based, and after-the-fact commission based, with clawbacks for deals that close too fast, or they reprice too fast, or whatever.
So we are very comfortable with the rest of that.
We just don't have a lot of it.
It's not our culture.
Well, that commercial and industrial line item has got the franchise loans purchase in it.
So that $555 million of loans we bought from GE would be included in that line.
If you back that out, the rest of it looks like relatively normal growth.
It's been going on for 10 years.
We do have a number of ---+ in our not for profit area, we do see there's some pain ---+ there's a lot of pain there, actually.
A number of our clients who are not for profit charities, who have had to cut back or just stop in terms of their activities, and what they're doing, because the State isn't paying them.
So we've seen the effects for sure.
We've managed through those effects, as has the management of those entities.
But other than that, it's a mess.
But essentially they have to do something to get through it.
In terms of our C&I business, we don't, by design, do much business with governments, other than buying maybe some of their securities, because I just don't trust them.
I don't trust the Federal Government.
I don't trust the State government.
We don't do a heck of a lot of business with them.
For the most part it has just affected charities, and they've been able to navigate through them.
It probably will continue to grow.
We have the capabilities now.
We built up enough bulk in our mortgage servicing area.
One of the unanticipated benefits of the Dodd-Frank movement was to centralize mortgage servicing in one place, which gave us ---+ and took it out of the 15 banks and put it in one place where we could have that specific required expertise, which then gave us the capacity to start servicing more.
I never like taking mortgage loans made in our footprint by Wintrust Mortgage, and selling those to somebody else to service them.
Didn't make a lot of sense to me.
So now we can keep them in-house, service them ourselves.
So I would expect that it would continue to grow over time, because we like our customers to stay with us and not give them to other people.
Thanks, everybody for dialing in.
Thanks for your support of Wintrust, and we look forward to talking to you at the end of what hopefully will be a record year.
Thank you.
