Wintrust Financial Corporation
                727 North Bank Lane, Lake Forest, Illinois 60045

                                                                    EXHIBIT 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE                                             July 15, 2005
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FOR MORE INFORMATION CONTACT:
Edward J. Wehmer, President & Chief Executive Officer
David A. Dykstra, Senior Executive Vice President & Chief Operating Officer
(847) 615-4096
 Website address: www.wintrust.com


             WINTRUST FINANCIAL CORPORATION ANNOUNCES REDEMPTION OF
                PREFERRED SECURITIES OF WINTRUST CAPITAL TRUST II

LAKE FOREST, ILLINOIS -- Wintrust Financial Corporation (NASDAQ - WTFC)
("Wintrust") announced today that all 2,000,000 shares of the 10.50% Cumulative
Trust Preferred Securities (the "Trust Preferred Securities") issued by Wintrust
Capital Trust II (the "Trust") will be redeemed on August 16, 2005 (the
"Redemption Date"), at a redemption price equal to the $10.00 liquidation
amount, plus accrued and unpaid distributions to the Redemption Date, for each
Trust Preferred Security. In accordance with the Amended and Restated Trust
Agreement governing the Trust Preferred Securities, August 1, 2005 has been
established as the record date for determining holders entitled to receive the
redemption price. The Trust Preferred Securities are listed on the NASDAQ
National Market under the symbol "WTFCO." Distributions will cease to accrue on
the Trust Preferred Securities effective on the Redemption Date. Wilmington
Trust Company serves as Property Trustee for the Trust.

The redemption of the Trust Preferred Securities is a result of the concurrent
redemption by Wintrust of its 10.50% Junior Subordinated Debentures due 2030,
all of which are held by the Trust. Wintrust intends to issue additional trust
preferred securities in a pooled transaction and use the proceeds therefrom to
fund the redemption of the Trust Preferred Securities and the Debentures.

ABOUT WINTRUST

Wintrust is a financial holding company with assets in excess of $7 billion
whose common stock is traded on the NASDAQ Stock Market (NASDAQ: WTFC). Wintrust
operates 13 community bank subsidiaries that are located in the greater Chicago
and Milwaukee market areas. Additionally, Wintrust operates various non-bank
subsidiaries including one of the largest commercial insurance premium finance
companies operating in the United States, a company providing short-term
accounts receivable financing and value-added out-sourced administrative
services to the temporary staffing services industry, companies 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 including broker-dealer, money management services,
advisory services, and trust and estate services. All of the Company's banking
subsidiaries are locally managed with large local boards of directors. Wintrust
Financial Corporation has been one of the fastest growing bank groups in
Illinois.