Hilltop Holdings Inc Stock Price, News & Analysis

HilltopSecurities is launching its 4th annual Hilltop Hunt on Oct. 5, 2024, World Teachers' Day. This virtual contest offers Texas K-12 educators a chance to win a share of over $50,000 in prizes. The online trivia game, featuring mascot Mo the Buffalo, runs from Oct. 5 to Oct. 23 at HilltopHunt.com.

Participants answer daily riddles about Mo's travels to Texas landmarks, with fewer guesses earning more entries. Five Gold Prize winners will receive a $10,000 donation to their chosen ISD Foundation and a pizza party for their class. Ten Silver Prize winners will win a class pizza party. The contest is open to all Texas K-12 teachers, with no purchase necessary.

HilltopSecurities has released the results of its 2024 Public Entity Survey, offering insights into the challenges and priorities of municipalities, school districts, and other public entities across the US. The survey, conducted from May to August, gathered responses from over 1,200 public sector employees and municipal market participants from all 50 states and DC.

Key findings include:

• Labor and staffing, along with aging infrastructure, were identified as the biggest challenges
• 75% of responses came from employees of cities, counties, and school districts
• The survey covered topics such as debt issuance priorities, remote work impact, and the importance of municipal bond tax-exemption

HilltopSecurities President and CEO Brad Winges emphasized the firm's commitment to assisting public entities and providing valuable insights to market participants. The company plans to expand this annual survey in future years.

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.