CONSENT OF INDEPENDENT AUDITORS


We consent to the  incorporation by reference in the following  documents of our
report  dated  March  7,  2003,  with  respect  to  the  consolidated  financial
statements of Wintrust Financial Corporation included by reference in the Annual
Report on Form 10-K for the year ended December 31, 2002:

     o    Registration  Statement  (Form S-8 No.  333-61678)  pertaining  to the
          Wintrust Financial Corporation Directors Deferred Fee and Stock Plan.

     o    Registration  Statement  (Form S-8 No.  333-33459)  pertaining  to the
          Wintrust Financial Corporation Employee Stock Purchase Plan.

     o    Registration  Statement  (Form S-8 No.  333-52650)  pertaining  to the
          Wintrust Financial Corporation 1997 Stock Incentive Plan.

     o    Registration  Statement  (FormS-8  No.  333-96983)  pertaining  to the
          Wintrust Financial Corporation 1997 Stock Incentive Plan.

     o    Registration  Statement  (Form S-8 No.  333-52652)  pertaining  to the
          Wintrust Financial Corporation Retirement Savings Plan.

     o    Registration  Statement (Form S-3 No. 333-90211)  pertaining to shares
          of  Wintrust  Financial  Corporation  issued  in  connection  with the
          acquisition of Tricom, Inc.

     o    Registration  Statement (Form S-3 No. 333-92075)  pertaining to shares
          of Wintrust Financial Corporation issued in a private placement.

     o    Registration  Statement (Form S-3 No. 333-56566)  pertaining to shares
          of Wintrust Financial Corporation issued in a private placement.

     o    Registration  Statement (Form S-3 No. 333-84188)  pertaining to shares
          of  Wintrust  Financial  Corporation  issued  in  connection  with the
          acquisition of Wayne Hummer Companies.

     o    Registration  Statement (Form S-3 No. 333-103134) pertaining to shares
          of  Wintrust  Financial  Corporation  issued  in  connection  with the
          acquisition of Lake Forest Capital Management Company.



/s/ Ernst & Young LLP



Chicago, Illinois
March 27, 2003