$HTH

Hilltop Holdings Inc.

CIK:0001265131|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income:
Loans, including fees	$ 134,532	$ 131,793	$ 264,618	$ 256,485
Securities borrowed	15,340	20,544	29,543	36,353
Securities:
Taxable	28,359	25,811	55,278	50,593
Tax-exempt	3,358	3,087	6,379	5,700
Other	7,457	15,946	17,518	40,849
Total interest income	189,046	197,181	373,336	389,980
Interest expense:
Deposits	45,285	57,056	93,610	117,107
Securities loaned	13,774	17,662	26,616	32,398
Short-term borrowings	10,441	7,694	18,028	15,797
Notes payable	2,361	3,106	4,716	6,759
Other	1,334	989	2,418	2,128
Total interest expense	73,195	86,507	145,388	174,189
Net interest income	115,851	110,674	227,948	215,791
Provision for (reversal of) credit losses	(974)	(7,340)	791	1,998
Net interest income after provision for (reversal of) credit losses	116,825	118,014	227,157	213,793
Noninterest income:
Net gains from sale of loans and other mortgage production income	48,583	51,945	99,555	97,226
Principal transactions, commissions and fees	64,197	47,856	130,731	103,169
Other	12,684	20,365	24,763	74,032
Total noninterest income	199,958	192,634	388,373	405,974
Noninterest expense:
Employees' compensation and benefits	179,896	176,410	348,858	352,650
Occupancy and equipment, net	19,427	21,064	39,256	40,846
Professional services	12,647	10,820	23,892	14,934
Other	54,766	52,882	103,033	104,219
Total noninterest expense	266,736	261,176	515,039	512,649
Income before income taxes	50,047	49,472	100,491	107,118
Income tax expense	12,092	11,583	23,517	24,697
Net income	37,955	37,889	76,974	82,421
Less: Net income attributable to noncontrolling interest	1,433	1,816	2,616	4,232
Income attributable to Hilltop	$ 36,522	$ 36,073	$ 74,358	$ 78,189
Earnings per common share:
Basic (in dollars per share)	$ 0.63	$ 0.57	$ 1.27	$ 1.22
Diluted (in dollars per share)	$ 0.63	$ 0.57	$ 1.27	$ 1.22
Weighted average share information:
Basic (in shares)	57,856	63,637	58,487	64,122
Diluted (in shares)	57,950	63,638	58,575	64,124
Mortgage loan origination fees
Noninterest income:
Revenue	$ 30,294	$ 28,738	$ 52,204	$ 51,189
Investment banking, advisory and administrative fees
Noninterest income:
Revenue	$ 44,200	$ 43,730	$ 81,120	$ 80,358

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 76,974	$ 82,421
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	791	1,998
Depreciation, amortization and accretion, net	3,752	9,034
Equity in earnings of merchant banking subsidiaries	140	(38,715)
Deferred income taxes	6,787	1,437
Other, net	6,581	7,176
Net change in securities purchased under agreements to resell	(56,519)	(5,150)
Net change in trading securities	(56,646)	(68,611)
Net change in broker-dealer and clearing organization receivables	(187,105)	17,016
Net change in other assets	3,609	(7,176)
Net change in broker-dealer and clearing organization payables	1,019	72,849
Net change in other liabilities	(77,108)	(84,180)
Net change in securities sold, not yet purchased	52,309	2,532
Proceeds from sale of mortgage servicing rights asset	48
Change in valuation of mortgage servicing rights asset	462	950
Net gains from sales of loans	(99,555)	(97,226)
Loans originated for sale	(4,890,640)	(4,884,155)
Proceeds from loans sold	4,930,366	4,761,039
Net cash used in operating activities	(284,735)	(228,761)
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	62,074	52,612
Proceeds from sales, maturities and principal reductions of securities available for sale	130,984	135,940
Proceeds from sales of equity securities		1,475
Purchases of securities held to maturity	(75,844)	(83,639)
Purchases of securities available for sale	(95,968)	(114,497)
Net change in loans held for investment	(304,750)	(155,667)
Purchases of premises and equipment and other assets	(11,993)	(757)
Proceeds from sales and distributions of premises and equipment and other assets	7,175	68,673
Net cash paid to Federal Home Loan Bank and Federal Reserve Bank stock	(36)	(1,656)
Net cash provided by (used in) investing activities	(288,358)	(97,516)
Financing Activities
Net change in deposits	(359,434)	(616,833)
Net change in short-term borrowings	574,224	(115,907)
Proceeds from long-term borrowings	469,803	555,941
Payments on long-term borrowings	(477,606)	(739,143)
Payments to repurchase common stock	(94,521)	(68,196)
Dividends paid on common stock	(23,441)	(23,174)
Net cash distributed to noncontrolling interest	(1,758)	(4,376)
Other, net	2,006	(2,329)
Net cash used in financing activities	89,273	(1,014,017)
Net change in cash, cash equivalents and restricted cash	(483,820)	(1,340,294)
Cash, cash equivalents and restricted cash, beginning of period	1,252,805	2,370,590
Cash, cash equivalents and restricted cash, end of period	768,985	1,030,296
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	146,259	177,550
Cash paid for income taxes, net of refunds	20,716	28,973
Supplemental Schedule of Non-Cash Activities
Non-cash distributions from merchant banking investments		9,521
Conversion of loans to other real estate owned	1,158	7,216
Additions to mortgage servicing rights	$ 5,774	$ 3,114

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 750,508	$ 1,231,944
Federal funds sold	650	650
Assets segregated for regulatory purposes	17,827	20,211
Securities purchased under agreements to resell	112,496	55,977
Securities:
Trading, at fair value	674,054	617,408
Available for sale, at fair value, net (amortized cost of $1,519,183 and $1,554,096, respectively)	1,450,592	1,491,048
Held to maturity, at amortized cost, net (fair value of $686,724 and $674,890, respectively)	745,175	728,329
Equity, at fair value	287	265
Total securities	2,870,108	2,837,050
Loans held for sale	1,004,118	950,142
Loans held for investment, net of unearned income	8,672,927	8,311,952
Allowance for credit losses	(84,856)	(91,537)
Loans held for investment, net	8,588,071	8,220,415
Broker-dealer and clearing organization receivables	1,714,179	1,588,882
Premises and equipment, net	131,099	132,820
Operating lease right-of-use assets	88,325	83,757
Mortgage servicing rights	22,755	17,491
Other assets	428,111	432,603
Goodwill	267,447	267,447
Other intangible assets, net	5,125	5,605
Total assets	16,000,819	15,844,994
Deposits:
Noninterest-bearing	2,744,425	2,831,919
Interest-bearing	7,769,628	8,046,161
Total deposits	10,514,053	10,878,080
Broker-dealer and clearing organization payables	1,524,115	1,518,503
Short-term borrowings	1,243,214	676,882
Securities sold, not yet purchased, at fair value	90,264	37,955
Notes payable	148,703	148,587
Operating lease liabilities	104,410	100,155
Other liabilities	219,764	287,226
Total liabilities	13,844,523	13,647,388
Commitments and contingencies (see Notes 13 and 14)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 57,284,453 and 59,540,484 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	573	595
Additional paid-in capital	936,525	973,072
Accumulated other comprehensive loss	(81,006)	(79,877)
Retained earnings	1,270,141	1,274,611
Total Hilltop stockholders' equity	2,126,233	2,168,401
Noncontrolling interests	30,063	29,205
Total stockholders' equity	2,156,296	2,197,606
Total liabilities and stockholders' equity	$ 16,000,819	$ 15,844,994