Hilltop Holdings Inc. reports developments for a financial holding company built around Texas banking, national residential mortgage lending, and broker-dealer operations. Its subsidiaries include PlainsCapital Bank, PrimeLending, Hilltop Securities Inc., and Momentum Independent Network Inc.
Recurring updates cover quarterly and annual results, capital actions such as cash dividends and share repurchases, capital ratios, loan trends, mortgage conditions, and broker-dealer activity in public finance, capital markets, wealth management, clearing, and related services. Company news also includes board and executive governance changes, regional banking leadership, and HilltopSecurities initiatives tied to its national investment-banking and municipal-advisory franchise.
Hilltop Holdings (NYSE: HTH) reported a net income of $32.1 million, or $0.50 per diluted share, for Q3 2022, a significant decrease from $92.9 million or $1.15 per share in Q3 2021. This decline is attributed to a 59.5% drop in mortgage origination segment net gains from sales of loans, totaling $98 million. Despite these challenges, the company declared a cash dividend of $0.15 per share. Key headwinds include rising inflation, tight housing inventories, and increasing market interest rates, impacting mortgage volumes and overall operating results.
Hilltop Holdings Inc. (NYSE: HTH) will host a live webcast and conference call on October 21, 2022, at 8:00 AM Central, to discuss third quarter 2022 financial results. President and CEO Jeremy B. Ford and CFO William B. Furr will lead the session. Interested individuals can join the call by dialing specified numbers or via Hilltop's Investor Relations website. The company is based in Dallas and operates primarily through PlainsCapital Bank, with a workforce of approximately 4,385 employees across 370 locations in 47 states.
On October 5, 2022, Hilltop Securities launched the Hilltop Hunt, an online contest for Texas K-8 educators, offering a share of $50,000 in prizes. This year's theme is “Where’s Mo?”, encouraging teachers to solve daily riddles about the mascot Mo the Buffalo. The contest runs until October 22, with participation open to public and charter school teachers. Gold Prize winners receive a $10,000 donation to a teacher support organization and a pizza party, while Silver Prize winners will also enjoy pizza parties. The initiative highlights Hilltop's commitment to supporting education.
CAIS and HilltopSecurities have formed a strategic partnership to enhance access to alternative investment products for financial advisors. This collaboration aims to connect HilltopSecurities’ network of nearly 275 advisors with various investment options, including hedge funds and real estate. The CAIS platform will provide independent due diligence, transaction processing, and automated reporting, aiding in wealth management growth. As traditional asset returns remain muted, this partnership is poised to address the evolving demands of investors.
Hilltop Holdings (NYSE: HTH) reported a significant decline in Q2 2022 earnings, with net income of $33.3 million ($0.45 per share) compared to $99.1 million ($1.21 per share) in Q2 2021. This decline is attributed to a 42.1% decrease in net gains from mortgage loan sales and increased provisions for credit losses, reflecting a deteriorating economic outlook. Hilltop declared a quarterly cash dividend of $0.15 per share. The company repurchased 14.87 million shares for $442.3 million, indicating confidence in its long-term strategy amidst challenging market conditions.
Hilltop Holdings Inc. (NYSE: HTH) will hold its 2022 Annual Meeting of Stockholders virtually on July 21, 2022, at 10:00 a.m. Dallas time due to ongoing COVID-19 concerns. Stockholders of record as of May 5, 2022 can participate online through www.virtualshareholdermeeting.com/HTH2022. Voting is encouraged prior to the meeting, and the original proxy card remains valid despite the location change. Hilltop Holdings is a Dallas-based financial holding company primarily offering banking and mortgage services.
Hilltop Holdings Inc. (NYSE: HTH) will host a live webcast and conference call on July 22, 2022, at 8:00 AM Central to discuss its second quarter 2022 financial results. President and CEO Jeremy B. Ford and CFO William B. Furr will provide insights into the company's performance.
The call will be accessible via phone or through Hilltop’s Investor Relations website. As of June 30, 2022, Hilltop employed approximately 4,650 people and operated 385 locations across 47 states.
PrimeLending announces the promotion of Amy Wirshing to Branch Manager at its Eagle, Idaho office. With 15 years in the mortgage industry, including 7 years as Production Manager at the Boise branch, she will oversee operations and guide a team of Loan Officers to meet customer mortgage needs in the Eagle and Boise areas. PrimeLending, part of Hilltop Holdings Inc. (NYSE: HTH), focuses on providing personalized home financing solutions and has maintained a 97% customer satisfaction rating.
PrimeLending has promoted Michael Heeb to Area Manager for the Pacific Northwest, overseeing Alaska, Idaho, and Montana. With 20 years of mortgage experience, Heeb previously served as Branch Manager at the Eagle, ID branch. His leadership has been instrumental in driving growth in Idaho and Montana. PrimeLending, a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH), focuses on delivering exceptional customer service and has maintained a 97% customer satisfaction rating. The company provides personalized mortgage solutions nationwide.
PrimeLending has announced the promotion of Matt Eckard to Area Manager for the Pacific Northwest region, overseeing Oregon and Washington. Eckard brings over 23 years of experience, previously serving as Branch Manager in the Portland area. Under his leadership, he will focus on supporting community mortgage needs, including purchase and refinance loans. Al Velasco, EVP West Division Manager, expressed confidence in Eckard’s ability to drive growth in this competitive market. PrimeLending aims to enhance homeownership opportunities throughout the region.