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Hilltop Holdings Inc. (HTH), based in Dallas, Texas, is a prominent financial holding company primarily engaged in offering a wide range of banking and financial services. Through its principal subsidiary, PlainsCapital Bank, Hilltop Holdings delivers comprehensive business and consumer banking services across numerous offices in Texas. The bank is well-regarded for its customer-centric approach, providing tailored financial solutions to meet the needs of both individuals and businesses.
In addition to traditional banking, Hilltop Holdings operates in other financial sectors through its broker-dealer and mortgage origination segments. PrimeLending, a national mortgage originator, is a significant part of Hilltop's operations, contributing robustly to the company’s revenue stream by offering a variety of mortgage products to its clients. This multi-faceted approach allows Hilltop Holdings to maintain a diversified revenue base and service portfolio.
Hilltop Holdings is committed to maintaining solid financial health, which is reflected in its consistent performance and strategic acquisitions aimed at enhancing its market position. The company’s strong partnerships and customer-oriented services have helped it build a reputable standing in the financial services industry.
Recent achievements include expanding its geographical footprint and continuously updating its product offerings to cater to evolving market demands. Hilltop Holdings ensures it stays at the forefront of the financial industry by leveraging technology and innovation to provide efficient and secure banking solutions.
The company's latest news and developments can be found on financial news platforms, reflecting its ongoing commitment to transparency and shareholder value.
Hilltop Holdings Inc. (NYSE: HTH) reported financial results for Q2 2024, with income to common stockholders of $20.3 million, or $0.31 per diluted share, compared to $18.1 million, or $0.28 per diluted share, in Q2 2023. Key highlights include:
- Provision for credit losses of $10.9 million
- Mortgage loan origination production volume of $2.4 billion
- Net gains from mortgage loans sold to third parties increased to 233 basis points
- Consolidated annualized return on average assets of 0.59%
- Book value per common share increased to $32.86
- Total assets of $15.6 billion
- Loans, net of allowance for credit losses, of $7.7 billion
- Total deposits of $10.4 billion
The company maintained strong capital levels with a Tier 1 Leverage Ratio of 12.87% and a Common Equity Tier 1 Capital Ratio of 19.45%.
Hilltop Holdings Inc. (NYSE: HTH), a Dallas-based financial holding company, has announced its upcoming second quarter 2024 earnings conference call and webcast. The event is scheduled for Friday, July 26, 2024, at 8:00 AM Central (9:00 AM Eastern). President and CEO Jeremy B. Ford and CFO William B. Furr will lead the call, reviewing the company's financial results for Q2 2024.
Interested parties can join the conference call by dialing 800-245-3047 (North America) or 203-518-9765 (International), using the conference ID HH2Q24. Additionally, a simultaneous webcast will be available on Hilltop's Investor Relations website at http://ir.hilltop.com.
PrimeLending, a national residential lender, has introduced Loan Lift, an innovative mortgage underwriting process designed to enhance borrowers' credit eligibility assessment. This new approach captures positive financial behaviors, such as consistent rent payments, potentially leading to better loan terms and expanded lending options.
Loan Lift combines advanced technology with PrimeLending's extensive range of over 400 mortgage programs and experienced mortgage experts. The process includes comprehensive data collection, digital verification through PointServ, and a customer-focused service philosophy. By considering a wider range of financial activities, including shared bill payments and positive cash flow transactions, Loan Lift aims to provide a more holistic view of a borrower's financial health.
PrimeLending, a subsidiary of Hilltop Holdings (NYSE: HTH), has introduced a new home equity loan product designed to provide homeowners with financial flexibility. This loan enables homeowners to convert their home equity into cash, which can be used for a variety of purposes such as consolidating high-interest debt, covering expenses, or managing personal finances.
According to the Federal Reserve Bank of New York, the average credit card balance has increased by 10% year-over-year, reaching $1.129 trillion in Q4 2023, with an average APR of 21.19%. In contrast, homeowners have nearly $30 trillion in home equity, as reported by the Federal Reserve Bank of St. Louis. The new loan product aims to leverage this equity, offering a fixed-rate repayment over a 30-year term.
PrimeLending emphasizes its customer-centric approach, boasting a 96% customer satisfaction rating for 2023. The company serves customers across all 50 states, providing a range of mortgage and home equity solutions.
HilltopSecurities has appointed Chris Long as Managing Director and Head of Public Finance Investment Grade Underwriting Origination based in New York. Long, who has over 25 years of municipal securities experience, will oversee hiring and national banking outreach for underwriting origination and will report to Co-Head of Public Finance Mike Bartolotta. Long's previous roles include Head of the Municipal Products Group at U.S. Bancorp Investments and positions at Janney Montgomery Scott and UBS Investment Bank. This strategic hire aims to support HilltopSecurities' efforts in expanding its municipal underwriting business nationwide.
HilltopSecurities has appointed Mat Parker as Managing Director and Head of HilltopSecurities Bank Solutions in Memphis, TN. Parker brings over 30 years of experience, including key roles at Raymond James and FHN Financial. HilltopSecurities, a leading municipal investment bank, aims to expand its Public Finance and Fixed Income Capital Markets businesses, having made over 20 new hires in 2024. Parker will focus on providing solutions for community and regional banks, reporting directly to President and CEO Brad Winges. The firm emphasizes customer service, client relationships, and customizable financial solutions.
PrimeLending, a PlainsCapital Company, has inaugurated a new production office in Plano, Texas. The ribbon-cutting ceremony, attended by Plano Mayor John Muns, marks the relocation of four Dallas-based branches and 47 loan originators to the new shared location at 8560 Belleview Drive.
The new hub is designed with innovative technology and flexible workforce features to enhance service delivery. PrimeLending's corporate headquarters will remain at 18111 Preston Road, North Dallas.
PrimeLending has earned national and local accolades, ranking 7th on the 2024 USA Today Top Workplaces USA list and 7th on the 2023 Dallas Morning News Top 100 Places to Work. The company has also received recognitions from Fortune Magazine for its workplace culture.
Hilltop Securities has announced the addition of several key hires to its public finance team. The new recruits include Gary Garay as Managing Director and Head of Municipal Housing Banking in Miami, Tania Askins as Managing Director in Dallas, Sabaa Modi as Senior Vice President in Austin, and Connor Benoit as Senior Vice President in Charlotte. Garay, who brings 20 years of experience in housing bonds, will focus on expanding the firm's role in housing finance. Askins, with two decades of infrastructure finance experience, Modi, and Benoit, each add nearly a decade of public finance banking experience. HilltopSecurities aims to continue its expansion, having added over a dozen experienced bankers in 2024 alone.
Le’ann Ardoyno, Branch Manager at PrimeLending Abilene, named a 2024 HousingWire Rising Star for her leadership in the mortgage and real estate industry. Recognized for professional achievements and contributions to housing economy and communities served.
Hilltop Holdings Inc. (NYSE: HTH) announced key leadership changes at PlainsCapital Bank, appointing Erik Yohe as Chief Strategy Officer and Walter Clarke as Chief Financial Officer. These changes aim to enhance the Bank's leadership team and drive growth in Texas markets. Yohe will focus on strategic planning and new initiatives, while Clarke will oversee financials and market support.
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