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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 19, 2023

Hilltop Holdings Inc.

(Exact name of registrant as specified in its charter)

Maryland

1-31987

84-1477939

(State or other jurisdiction of
incorporation)

(Commission
File Number)

(IRS Employer Identification
No.)

6565 Hillcrest Avenue

Dallas, Texas

75205

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (214) 855-2177

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to section 12(b) of the Act:

Title of each class

Trading symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

HTH

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b–2 of the Securities Exchange Act of 1934.

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Section 2 – Financial Information

Item 2.02  Results of Operations and Financial Condition.

On October 19, 2023, Hilltop Holdings Inc., or the Company, issued a press release announcing its results of operations and financial condition as of and for the three months ended September 30, 2023. The text of the release is set forth in Exhibit 99.1 attached to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth in such filing.

Section 8 – Other Events

Item 8.01  Other Events.

On October 19, 2023, the Board of Directors of the Company declared a quarterly cash dividend of $0.16 per common share, payable on November 28, 2023, to stockholders of record as of the close of business on November 13, 2023.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, the Company does not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning the Company’s plans, objectives, strategies, expectations, intentions and other statements that are not statements of historical fact, and may be identified by words such as “anticipates,” “believes,” “building,” “continue,” “could,” “drive,” “estimates,” “expects,” “extent,” “focus,” “forecasts,” “goal,” “guidance,” “intends,” “may,” “might,” “outlook,” “plan,” “position,” “probable,” “progressing,” “projects,” “prudent,” “seeks,” “should,” “target,” “view,” “will” or “would” or the negative of these words and phrases or similar words or phrases. For a list of factors that could cause actual results to differ materially from those set forth in the forward-looking statements, see the risk factors described in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.

Section 9 – Financial Statements and Exhibits

Item 9.01  Financial Statements and Exhibits.

(a)Financial statements of businesses acquired.

Not applicable.

(b)Pro forma financial information.

Not applicable.

(c)Shell company transactions.

Not applicable.

(d)Exhibits.

The following exhibit(s) are filed or furnished, depending on the relevant item requiring such exhibit, in accordance with the provisions of Item 601 of Regulation S-K and Instruction B.2 to this form.

Exhibit

Number

Description of Exhibit

99.1

Press Release issued October 19, 2023 (furnished pursuant to Item 2.02).

104

Cover Page Interactive File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Hilltop Holdings Inc.,

a Maryland corporation

Date:

October 19, 2023

By:

/s/ COREY PRESTIDGE

Name:

Corey G. Prestidge

Title:

Executive Vice President,

General Counsel & Secretary

Exhibit 99.1

Investor Relations Contact:

Erik Yohe

214-525-4634

eyohe@hilltop-holdings.com

Hilltop Holdings Inc. Announces Financial Results for Third Quarter 2023

DALLAS — (BUSINESS WIRE) October 19, 2023 — Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced financial results for the third quarter of 2023. Hilltop produced income to common stockholders of $37.0 million, or $0.57 per diluted share, for the third quarter of 2023, compared to $32.1 million, or $0.50 per diluted share, for the third quarter of 2022. Hilltop’s financial results for the third quarter of 2023 included decreases in year-over-year mortgage origination segment net gains from sales of loans and other mortgage production income, a decline in the net interest income within the banking segment, and increases in net revenues within certain of the broker-dealer segment’s business lines.

Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $0.16 per common share, payable on November 28, 2023, to all common stockholders of record as of the close of business on November 13, 2023.

Headwinds that began in 2022, and continued through the first nine months of 2023, including the impact of tight housing inventories on mortgage volumes, declining deposit balances, rapid increases in market interest rates and a volatile economic forecast have had, and are expected to continue to have, an adverse impact on our operating results during the remainder of 2023. The impacts of such headwinds during the remainder of 2023 remain uncertain and will depend on developments outside of our control, including, among others, the timing and significance of further changes in U.S. treasury yields and mortgage interest rates, exposure to increasing funding costs, inflationary pressures associated with compensation, occupancy and software costs and labor market conditions, international armed conflicts and their impact on supply chains, and disruptions to the economy and the U.S. banking system caused by high-profile bank failures during early 2023.

Jeremy B. Ford, President and CEO of Hilltop, said “Hilltop’s operating results for the third quarter reflect a general continuation in market pressures experienced in the first half of the year. While PlainsCapital Bank produced strong financial results for the quarter with a 1.20% return on average assets, the competitive environment around deposits resulted in further pressure on the bank’s net interest margin. HilltopSecurities generated robust financial results as the wealth management and structured finance businesses produced strong net revenues, which more than offset challenging market conditions for the public finance and fixed income capital markets businesses. PrimeLending’s results continued to be impacted by the housing market’s lack of inventory, consumer affordability challenges and a stubbornly compressed gain-on-sale margin.

“As we progress into the final quarter of the year, we will continue to prudently manage our balance sheet, closely monitor our expenses and serve our valued clients.”

Third Quarter 2023 Highlights for Hilltop:

The reversal of credit losses was $40 thousand during the third quarter of 2023, compared to a provision for credit losses of $14.8 million in the second quarter of 2023 and a reversal of credit losses of $0.8 million in the third quarter of 2022;
oThe slight reversal of credit losses during the third quarter of 2023 reflected improvements to the U.S. economic outlook and decreases in specific reserves within our broker dealer segment, offset by increases in specific reserves and net portfolio changes within the banking segment.
For the third quarter of 2023, net gains from sale of loans and other mortgage production income and mortgage loan origination fees within our mortgage origination segment was $88.7 million, compared to $98.0 million in the third quarter of 2022, a 9.4% decrease;
oMortgage loan origination production volume was $2.2 billion during the third quarter of 2023, compared to $3.0 billion in the third quarter of 2022;
oNet gains from mortgage loans sold to third parties decreased to 199 basis points during the third quarter of 2023, compared to 207 basis points in the second quarter of 2023.

Graphic


Hilltop’s consolidated annualized return on average assets and return on average stockholders’ equity for the third quarter of 2023 were 0.94% and 7.11%, respectively, compared to 0.79% and 6.26%, respectively, for the third quarter of 2022;
Hilltop’s book value per common share increased to $31.91 at September 30, 2023, compared to $31.71 at June 30, 2023;
Hilltop’s total assets were $16.4 billion and $17.1 billion at September 30, 2023 and June 30, 2023, respectively;
Loans1, net of allowance for credit losses, were $7.7 billion and $7.9 billion at September 30, 2023 and June 30, 2023, respectively;
Non-performing loans were $31.5 million, or 0.34% of total loans, at September 30, 2023, compared to $39.0 million, or 0.40% of total loans, at June 30, 2023;
Loans held for sale decreased by 20.6% from June 30, 2023 to $1.1 billion at September 30, 2023;
Total deposits were $11.1 billion and $11.2 billion at September 30, 2023 and June 30, 2023, respectively;
oTotal estimated uninsured deposits were $4.4 billion, or approximately 40% of total deposits, while estimated uninsured deposits, excluding collateralized deposits of $276.3 million, were $4.2 billion, or approximately 37% of total deposits at September 30, 2023.
Hilltop maintained strong capital levels2 with a Tier 1 Leverage Ratio3 of 11.92% and a Common Equity Tier 1 Capital Ratio of 18.60% at September 30, 2023;
Hilltop’s consolidated net interest margin4 decreased to 3.02% for the third quarter of 2023, compared to 3.03% in the second quarter of 2023;
For the third quarter of 2023, noninterest income was $196.8 million, compared to $207.0 million in the third quarter of 2022, a 4.9% decrease;
For the third quarter 2023, noninterest expense was $260.0 million, compared to $288.7 million in the third quarter of 2022, a 9.9% decrease; and
Hilltop’s effective tax rate was 25.2% during the third quarter of 2023, compared to 21.8% during the same period in 2022.
oThe effective tax rate for the third quarter was higher than the applicable statutory rate primarily due to the impact of non-deductible compensation expense and other permanent adjustments.


1  “Loans” reflect loans held for investment excluding broker-dealer margin loans, net of allowance for credit losses, of $357.1 million and $358.5 million at September 30, 2023 and June 30, 2023, respectively.

2  Capital ratios reflect Hilltop’s decision to elect the transition option as issued by the federal banking regulatory agencies in March 2020 that permits banking institutions to mitigate the estimated cumulative regulatory capital effects from CECL over a five-year transitionary period.

3  Based on the end of period Tier 1 capital divided by total average assets during the quarter, excluding goodwill and intangible assets.

4  Net interest margin is defined as net interest income divided by average interest-earning assets.

Graphic


Consolidated Financial and Other Information

Consolidated Balance Sheets

September 30,

June 30,

March 31,

December 31,

September 30,

(in 000's)

    

2023

    

2023

    

2023

    

2022

    

2022

Cash and due from banks

$

1,513,747

$

1,584,709

$

1,764,081

$

1,579,512

$

1,777,584

Federal funds sold

3,650

650

743

650

663

Assets segregated for regulatory purposes

47,491

50,711

36,199

67,737

109,358

Securities purchased under agreements to resell

123,719

143,982

144,201

118,070

145,365

Securities:

 

Trading, at fair value

578,901

696,649

692,908

755,032

641,864

Available for sale, at fair value, net (1)

1,456,238

1,526,869

1,641,571

1,658,766

1,584,724

Held to maturity, at amortized cost, net (1)

825,079

847,437

862,280

875,532

889,452

Equity, at fair value

264

258

231

200

209

2,860,482

3,071,213

3,196,990

3,289,530

3,116,249

Loans held for sale

 

1,058,806

1,333,044

1,040,138

982,616

1,003,605

Loans held for investment, net of unearned income

8,204,052

8,354,122

8,192,846

8,092,673

7,944,246

Allowance for credit losses

 

(110,822)

(109,306)

(97,354)

(95,442)

(91,783)

Loans held for investment, net

8,093,230

8,244,816

8,095,492

7,997,231

7,852,463

Broker-dealer and clearing organization receivables

1,460,352

1,474,177

1,560,246

1,038,055

1,255,052

Premises and equipment, net

 

172,097

176,574

180,132

184,950

191,423

Operating lease right-of-use assets

 

93,057

97,979

100,122

102,443

103,099

Mortgage servicing assets

104,951

95,101

103,314

100,825

156,539

Other assets

588,751

588,166

529,438

518,899

624,235

Goodwill

267,447

267,447

267,447

267,447

267,447

Other intangible assets, net

9,078

9,772

10,544

11,317

12,209

Total assets

$

16,396,858

$

17,138,341

$

17,029,087

$

16,259,282

$

16,615,291

Deposits:

Noninterest-bearing

$

3,200,247

$

3,451,438

$

3,807,878

$

3,968,862

$

4,546,816

Interest-bearing

 

7,902,850

7,712,739

7,289,269

7,346,887

6,805,198

Total deposits

11,103,097

11,164,177

11,097,147

11,315,749

11,352,014

Broker-dealer and clearing organization payables

 

1,368,064

1,306,646

1,383,317

966,470

1,176,156

Short-term borrowings

882,999

1,628,637

1,572,794

970,056

942,309

Securities sold, not yet purchased, at fair value

51,527

74,761

51,497

53,023

99,515

Notes payable

347,020

364,531

376,410

346,654

390,354

Operating lease liabilities

114,334

119,999

122,878

126,759

120,635

Other liabilities

422,955

389,336

341,246

417,042

475,425

Total liabilities

14,289,996

15,048,087

14,945,289

14,195,753

14,556,408

Common stock

652

651

650

647

646

Additional paid-in capital

1,052,867

1,050,191

1,044,774

1,046,331

1,043,605

Accumulated other comprehensive loss

(145,083)

(131,718)

(125,461)

(133,531)

(119,864)

Retained earnings

1,171,250

1,144,624

1,136,901

1,123,636

1,107,586

Deferred compensation employee stock trust, net

340

450

446

481

479

Employee stock trust

(446)

(599)

(599)

(640)

(641)

Total Hilltop stockholders' equity

2,079,580

2,063,599

2,056,711

2,036,924

2,031,811

Noncontrolling interests

27,282

26,655

27,087

26,605

27,072

Total stockholders' equity

2,106,862

2,090,254

2,083,798

2,063,529

2,058,883

Total liabilities & stockholders' equity

$

16,396,858

$

17,138,341

$

17,029,087

$

16,259,282

$

16,615,291


(1)At September 30, 2023, the amortized cost of the available for sale securities portfolio was $1,606,340, while the fair value of the held to maturity securities portfolio was $703,366.

Graphic


Three Months Ended

Consolidated Income Statements

September 30,

June 30,

March 31,

December 31,

September 30,

(in 000's, except per share data)

    

2023

    

2023

    

2023

    

2022

    

2022

    

Interest income:

Loans, including fees

$

142,402

$

138,397

$

123,379

$

117,906

$

109,165

Securities borrowed

17,683

18,515

17,068

14,162

10,938

Securities:

Taxable

27,166

26,719

25,602

23,293

19,642

Tax-exempt

2,464

2,566

3,188

3,002

2,451

Other

27,040

27,229

22,190

21,611

14,276

Total interest income

216,755

213,426

191,427

179,974

156,472

Interest expense:

 

Deposits

64,290

54,726

35,824

28,238

12,525

Securities loaned

16,169

16,413

15,346

13,179

9,407

Short-term borrowings

14,212

17,706

12,444

10,278

5,550

Notes payable

4,026

3,973

3,853

3,988

3,907

Other

2,408

2,342

2,255

849

1,597

Total interest expense

101,105

95,160

69,722

56,532

32,986

Net interest income

115,650

118,266

121,705

123,442

123,486

Provision for (reversal of) credit losses

(40)

14,836

2,331

3,638

(780)

Net interest income after provision for (reversal of) credit losses

115,690

103,430

119,374

119,804

124,266

Noninterest income:

 

Net gains from sale of loans and other mortgage production income

47,262

48,535

39,966

35,949

57,998

Mortgage loan origination fees

41,478

41,440

28,777

35,198

39,960

Securities commissions and fees

28,044

29,606

31,223

33,143

34,076

Investment and securities advisory fees and commissions

39,662

32,037

26,848

30,661

35,031

Other

40,403

39,034

35,680

34,833

39,910

Total noninterest income

196,849

190,652

162,494

169,784

206,975

Noninterest expense:

 

Employees' compensation and benefits

173,195

176,908

167,817

167,892

200,450

Occupancy and equipment, net

21,912

23,025

22,865

23,077

25,041

Professional services

12,639

12,594

10,697

11,555

10,631

Other

52,271

54,450

49,091

50,844

52,616

Total noninterest expense

260,017

266,977

250,470

253,368

288,738

Income before income taxes

52,522

27,105

31,398

36,220

42,503

Income tax expense

 

13,211

7,167

3,630

9,642

9,249

Net income

39,311

19,938

27,768

26,578

33,254

Less: Net income attributable to noncontrolling interest

 

2,269

1,805

1,968

1,022

1,186

Income attributable to Hilltop

$

37,042

$

18,133

$

25,800

$

25,556

$

32,068

Earnings per common share:

Basic

$

0.57

$

0.28

$

0.40

$

0.40

$

0.50

Diluted

$

0.57

$

0.28

$

0.40

$

0.39

$

0.50

Cash dividends declared per common share

$

0.16

$

0.16

$

0.16

$

0.15

$

0.15

Weighted average shares outstanding:

Basic

65,106

65,025

64,901

64,602

64,552

Diluted

65,108

65,054

64,954

64,779

64,669

Three Months Ended September 30, 2023

Segment Results

Mortgage

    

    

All Other and

    

Hilltop

(in 000's)

    

Banking

    

Broker-Dealer

    

Origination

    

Corporate

    

Eliminations

    

Consolidated

Net interest income (expense)

$

99,047

$

12,215

$

(5,482)

$

(3,175)

$

13,045

$

115,650

Provision for (reversal of) credit losses

 

675

 

(715)

 

 

 

 

(40)

Noninterest income

 

11,668

 

106,488

 

88,747

 

3,159

 

(13,213)

 

196,849

Noninterest expense

 

56,887

 

97,865

 

91,505

 

13,937

 

(177)

 

260,017

Income (loss) before taxes

$

53,153

$

21,553

$

(8,240)

$

(13,953)

$

9

$

52,522

Nine Months Ended September 30, 2023

Segment Results

Mortgage

    

    

All Other and

    

Hilltop

(in 000's)

    

Banking

    

Broker-Dealer

    

Origination

    

Corporate

    

Eliminations

    

Consolidated

Net interest income (expense)

$

304,804

$

39,279

$

(15,590)

$

(9,976)

$

37,105

$

355,622

Provision for (reversal of) credit losses

 

17,175

 

(48)

 

17,127

Noninterest income

 

34,046

 

297,164

247,655

8,944

(37,815)

 

549,994

Noninterest expense

 

170,450

 

283,063

278,918

45,750

(717)

 

777,464

Income (loss) before taxes

$

151,225

$

53,428

$

(46,853)

$

(46,782)

$

7

$

111,025

Graphic


Three Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

Selected Financial Data

2023

    

2023

    

2023

    

2022

    

2022

Hilltop Consolidated:

 

Return on average stockholders' equity

7.11%

3.53%

5.12%

4.99%

6.26%

Return on average assets

0.94%

0.47%

0.69%

0.63%

0.79%

Net interest margin (1)

3.02%

3.03%

3.28%

3.23%

3.19%

Net interest margin (taxable equivalent) (2):

As reported

3.04%

 

3.03%

3.28%

3.24%

3.20%

Impact of purchase accounting

 

7 bps

9 bps

6 bps

7 bps

8 bps

Book value per common share ($)

31.91

31.71

31.63

31.49

31.46

Shares outstanding, end of period (000's)

65,170

65,071

65,023

64,685

64,591

Dividend payout ratio (3)

28.12%

 

57.37%

40.25%

37.92%

30.19%

Banking Segment:

Net interest margin (1)

3.08%

3.11%

3.40%

3.42%

3.42%

Net interest margin (taxable equivalent) (2):

As reported

3.09%

3.11%

3.41%

3.43%

3.43%

Impact of purchase accounting

8 bps

11 bps

7 bps

8 bps

10 bps

Accretion of discount on loans ($000's)

2,226

3,334

1,870

2,173

2,858

Net recoveries (charge-offs) ($000's)

1,556

(2,884)

(419)

21

(2,735)

Return on average assets

1.20%

0.89%

1.44%

1.31%

1.41%

Fee income ratio

10.5%

10.0%

9.6%

9.8%

9.9%

Efficiency ratio

51.4%

51.2%

48.4%

48.9%

48.9%

Employees' compensation and benefits ($000's)

30,641

30,603

32,681

34,526

35,934

Broker-Dealer Segment:

Net revenue ($000's) (4)

118,703

113,241

104,498

106,919

114,184

Employees' compensation and benefits ($000's)

69,930

65,290

62,429

60,552

70,274

Variable compensation expense ($000's)

39,929

34,798

30,821

32,042

42,567

Compensation as a % of net revenue

58.9%

57.7%

59.7%

56.6%

61.5%

Pre-tax margin (5)

18.2%

16.3%

12.8%

18.5%

15.3%

Mortgage Origination Segment:

Mortgage loan originations - volume ($000's):

Home purchases

2,091,444

2,301,007

1,607,330

1,895,731

2,832,136

Refinancings

152,257

150,643

125,423

147,511

211,075

Total mortgage loan originations - volume

2,243,701

2,451,650

1,732,753

2,043,242

3,043,211

Mortgage loan sales - volume ($000's)

2,395,357

2,115,706

1,661,521

2,038,990

3,419,950

Net gains from mortgage loan sales (basis points):

Loans sold to third parties

199

207

193

211

227

Impact of loans retained by banking segment

(1)

(6)

(7)

(19)

(9)

As reported

198

201

186

192

218

Mortgage servicing rights asset ($000's) (6)

104,951

95,101

103,314

100,825

156,539

Employees' compensation and benefits ($000's)

64,016

70,982

62,355

64,940

86,079

Variable compensation expense ($000's)

33,070

36,249

25,573

26,724

44,312


(1)Net interest margin is defined as net interest income divided by average interest-earning assets.
(2)Net interest margin (taxable equivalent), a non-GAAP measure, is defined as taxable equivalent net interest income divided by average interest-earning assets. Taxable equivalent adjustments are based on the applicable 21% federal income tax rate for all periods presented. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest margins for all earning assets, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. The taxable equivalent adjustments to interest income for Hilltop (consolidated) were $0.6 million, $0.1 million, $0.1 million, $0.3 million and $0.4 million, respectively, for the periods presented and for the banking segment were $0.2 million for each of the periods presented.
(3)Dividend payout ratio is defined as cash dividends declared per common share divided by basic earnings per common share.
(4)Net revenue is defined as the sum of total broker-dealer net interest income and total broker-dealer noninterest income.
(5)Pre-tax margin is defined as income before income taxes divided by net revenue.
(6)Reported on a consolidated basis and therefore does not include mortgage servicing rights assets related to loans serviced for the banking segment, which are eliminated in consolidation.

September 30,

June 30,

March 31,

December 31,

September 30,

Capital Ratios

    

2023

    

2023

    

2023

    

2022

    

2022

Tier 1 capital (to average assets):

PlainsCapital

 

10.62%

 

10.28%

10.69%

10.26%

10.29%

Hilltop

11.92%

 

11.47%

11.82%

11.47%

11.41%

Common equity Tier 1 capital (to risk-weighted assets):

PlainsCapital

15.31%

 

14.48%

14.97%

14.98%

14.68%

Hilltop

 

18.60%

 

17.61%

17.99%

18.23%

17.45%

Tier 1 capital (to risk-weighted assets):

 

 

PlainsCapital

15.31%

 

14.48%

14.97%

14.98%

14.68%

Hilltop

 

18.60%

 

17.61%

17.99%

18.23%

17.45%

Total capital (to risk-weighted assets):

PlainsCapital

 

16.45%

 

15.56%

15.94%

15.91%

15.54%

Hilltop

21.54%

 

20.41%

20.75%

20.98%

20.07%

Graphic


September 30,

June 30,

March 31,

December 31,

September 30,

Non-Performing Assets Portfolio Data

    

2023

    

2023

    

2023

    

2022

    

2022

Loans accounted for on a non-accrual basis ($000's):

 

Commercial real estate

7,339

3,552

1,973

4,269

4,735

Commercial and industrial

10,190

21,442

10,807

9,095

12,078

Construction and land development

760

593

199

198

1

1-4 family residential

13,202

13,360

14,387

15,941

16,968

Consumer

7

9

12

14

16

Broker-dealer

31,498

38,956

27,378

29,517

33,798

Troubled debt restructurings included in accruing loans held for investment ($000's) (1)

803

825

Non-performing loans ($000's) (1)

31,498

38,956

27,378

30,320

34,623

Non-performing loans as a % of total loans ($000's) (1)

 

0.34%

 

0.40%

0.30%

0.33%

0.39%

Other real estate owned ($000's)

5,386

3,481

3,202

2,325

1,637

Other repossessed assets ($000's)

Non-performing assets ($000's) (1)

36,884

42,437

30,580

32,645

36,260

Non-performing assets as a % of total assets ($000's)