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Wintrust turned a profit of $105.1 million in the second quarter, down from $153.1 million in the first quarter of last year. But the Rosemont-based bank, which has branches in Dyer, Lansing and across the south suburbs, had made $258.3 million in the first six months of 2021, up 206% from $84.5 million in the first half of 2020. Wintrust grew its assets by $1.1 billion in the second quarter to $46.7 billion. The second quarter of 2021 was characterized by strong organic loan growth, increased net interest income, a decline in mortgage banking revenue, a release of reserves as our credit quality and macroeconomic forecasts improved and a continued focus to increase franchise value in our market area, Wintrust CEO Edward Wehmer said. The company experienced loan growth, excluding PPP loans, of $1.2 billion or 15%, on an annualized basis in the second quarter of 2021, including growth in its commercial, commercial real estate, residential real estate loans for investment, ....
The Associated General Contractors of America (AGC) and Sage Construction and Real forecast the COVID-19 pandemic to shrink construction demand, decrease new hires and increase cancelled or delayed production in 2021. AGC and Sage conducted the 2021 Construction Outlook National Survey, which accumulated 1,329 responses, and discussed the results in a Facebook Live event with a panel of contractors on Thursday. The survey concluded that most companies anticipate declining demand for work in all construction categories excluding water and sewer, warehouse and other healthcare facilities (clinics, testing or screening, or medical labs). AGC Chief Economist Ken Simonson forecasts the construction industry won’t return to pre-pandemic levels anytime soon. Of the survey participants, 59% of companies had to postpone production and 44% saw project cancellations, resulting in lost income in 2020. ....