Hilltop Holdings Inc. Announces Financial Results for Third Quarter 2025

DALLAS— Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced financial results for the third quarter of 2025. Hilltop produced income to common stockholders of $45.8 million, or $0.74 per diluted share, for the third quarter of 2025, compared to $29.7 million, or $0.46 per diluted share, for the third quarter of 2024. Hilltop’s financial results for the third quarter, compared with the same period in 2024, primarily included increases in the reversal of credit losses and net interest income and a decrease in noninterest expense within the banking segment, net revenues and noninterest expenses increased within the broker-dealer segment, and the mortgage origination segment had declines in noninterest income, noninterest expense and net interest expense.

Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $0.18 per common share payable on November 21, 2025, to all common stockholders of record as of the close of business on November 7, 2025. Additionally, during the third quarter of 2025, Hilltop paid $55.1 million to repurchase an aggregate of 1,701,274 shares of its common stock at an average price of $32.36 per share pursuant to the 2025 stock repurchase program. These shares were returned to the pool of authorized but unissued shares of common stock.

Furthermore, in October 2025, the Hilltop Board of Directors authorized an increase to the aggregate amount of common stock that Hilltop may repurchase under the aforementioned stock repurchase program to $185.0 million, an increase of $50.0 million. As a result of share repurchases during 2025, Hilltop has approximately $62 million of available share repurchase capacity through the expiration of the 2025 stock repurchase program in January 2026.

The extent of the impact of uncertain economic conditions on our financial performance during the remainder of 2025 will depend in part 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, changes in funding costs, inflationary pressures, changes in the political environment, the impact of tariffs and reciprocal tariffs, and international armed conflicts and their impact on supply chains.

Jeremy B. Ford, Chairman, President and CEO of Hilltop, said, “Hilltop delivered a 1.2% return on average assets during the third quarter on net income of $46 million. Within PlainsCapital Bank, strong core loan and deposit growth on a linked-quarter basis, along with healthy net interest margin expansion, generated $55 million in pre-tax income during the third quarter. A dampened summer home-buying market weighed down PrimeLending’s operating results as the company produced a pre-tax loss of $7 million on flat year-over-year origination volumes and depressed origination fees. We continue to actively manage down fixed expenses within our mortgage origination business. Additionally, robust results within all business lines at HilltopSecurities resulted in a pre-tax margin of 18% on net revenues of $144 million.

“Further, Hilltop Holdings returned $66 million to stockholders via $11 million in quarterly dividends and $55 million in repurchases of Hilltop shares. As we close out 2025, we are working diligently to implement and execute strategic plans for 2026 that will continue to prioritize serving our clients and creating long-term stockholder value.”

Third Quarter 2025 Highlights for Hilltop:

• The reversal of credit losses was $2.5 million during the third quarter of 2025, compared to a reversal of credit losses of $7.3 million in the second quarter of 2025 and a reversal of credit losses of $1.3 million in the third quarter of 2024;
  • The reversal of credit losses during the third quarter of 2025 was primarily driven by changes in the U.S. economic outlook associated with collectively evaluated loans and loan portfolio changes, including changes in loan mix and risk rating grade migration, within the banking segment, partially offset by a build in the allowance related to specific reserves, since the prior quarter.
• For the third quarter of 2025, net gains from sale of loans and other mortgage production income and mortgage loan origination fees was $76.6 million, compared to $79.9 million in the third quarter of 2024, a 4.2% decrease;
  • Mortgage loan origination production volume was $2.3 billion during the third quarter of 2025, compared to $2.3 billion during the third quarter of 2024;
  • Net gains from mortgage loans sold to third parties, including broker fee income, increased to 239 basis points during the third quarter of 2025, compared to 233 basis points in the second quarter of 2025.
• Hilltop’s consolidated annualized return on average assets and return on average stockholders’ equity for the third quarter of 2025 were 1.20% and 8.35%, respectively, compared to 0.84% and 5.51%, respectively, for the third quarter of 2024;
• Hilltop’s book value per common share increased to $35.69 at September 30, 2025, compared to $34.90 at June 30, 2025;
• Hilltop’s total assets were $15.6 billion and $15.4 billion at September 30, 2025 and June 30, 2025, respectively;
• Loans ¹, net of allowance for credit losses, were $7.8 billion and $7.6 billion at September 30, 2025 and June 30, 2025, respectively;
• Non-accrual loans were $68.3 million, or 0.75% of total loans, at September 30, 2025, compared to $72.7 million, or 0.80% of total loans, at June 30, 2025;
• Loans held for sale decreased by 13.3% from June 30, 2025 to $849.4 million at September 30, 2025;
• Total deposits were $10.7 billion and $10.4 billion at September 30, 2025 and June 30, 2025, respectively;
  • Total estimated uninsured deposits were $5.7 billion, or approximately 54% of total deposits, while estimated uninsured deposits, excluding collateralized deposits of $592.1 million and internal accounts of $370.2 million, were $4.8 billion, or approximately 45% of total deposits, at September 30, 2025.
• Hilltop maintained strong capital levels with a Tier 1 Leverage Ratio ² of 13.13% and a Common Equity Tier 1 Capital Ratio of 20.33% at September 30, 2025;
• Hilltop’s consolidated net interest margin ³ increased to 3.06% for the third quarter of 2025, compared to 3.01% in the second quarter of 2025;
• For the third quarter of 2025, noninterest income was $217.8 million, compared to $200.4 million in the third quarter of 2024, an 8.7% increase;
• For the third quarter of 2025, noninterest expense was $271.9 million, compared to $264.3 million in the third quarter of 2024, a 2.9% increase; and
• Hilltop’s effective tax rate was 23.2% during the third quarter of 2025, compared to 22.5% during the same period in 2024.
  • The effective tax rate for the third quarter of 2025 was higher than the applicable statutory rate primarily due to the impact of nondeductible compensation expense, other nondeductible expenses and other permanent adjustments, partially offset by investments in tax-exempt instruments.

1. “Loans” reflect loans held for investment excluding broker-dealer margin loans, net of allowance for credit losses, of $325.3 million and $329.4 million at September 30, 2025 and June 30, 2025, respectively.
2. Based on the end of period Tier 1 capital divided by total average assets during the quarter, excluding goodwill and intangible assets.
3. Net interest margin is defined as net interest income divided by average interest-earning assets.

Conference Call Information

Hilltop will host a live webcast and conference call at 8:00 AM Central (9:00 AM Eastern) on Friday, October 24, 2025. Hilltop Chairman, President and CEO Jeremy B. Ford and Hilltop CFO William B. Furr will review third quarter 2025 financial results. Interested parties can access the conference call by dialing 800-549-8228 (Toll Free North America) or (+1) 289-819-1520 (International Toll) and then using the conference ID 98217. The conference call also will be webcast simultaneously on Hilltop’s Investor Relations website (http://ir.hilltop.com).

About Hilltop

Hilltop Holdings is a Dallas-based financial holding company. Its primary line of business is to provide business and consumer banking services from offices located throughout Texas through PlainsCapital Bank. PlainsCapital Bank’s wholly owned subsidiary, PrimeLending, provides residential mortgage lending throughout the United States. Hilltop Holdings’ broker-dealer subsidiaries, Hilltop Securities Inc. and Momentum Independent Network Inc., provide a full complement of securities brokerage, institutional and investment banking services in addition to clearing services and retail financial advisory. At September 30, 2025, Hilltop employed approximately 3,600 people and operated 312 locations in 47 states. Hilltop Holdings’ common stock is listed on the New York Stock Exchange under the symbol “HTH.” Find more information at Hilltop.com, PlainsCapital.com, PrimeLending.com and Hilltopsecurities.com.

FORWARD-LOOKING STATEMENTS

This press release 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 our 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, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our plans, objectives, strategies, expectations, intentions and other statements that are not statements of historical fact, and may be identified by words such as “aim,” “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,” “steady,” “target,” “view,” “will,” “working” or “would” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: (i) the credit risks of lending activities, including our ability to estimate credit losses and the allowance for credit losses, as well as the effects of changes in the level of, and trends in, loan delinquencies and write-offs; (ii) effectiveness of our data security controls in the face of cyber attacks and any legal, reputational and financial risks following a cybersecurity incident; (iii) changes in general economic, market and business conditions in areas or markets where we compete, including changes in the price of crude oil; (iv) changes in the interest rate environment; (v) risks associated with concentration in real estate related loans; (vi) the effects of indebtedness on our ability to manage our business successfully, including the restrictions imposed by the indenture governing our indebtedness; (vii) disruptions to the economy and financial services industry, risks associated with uninsured deposits and responsive measures by federal or state governments or banking regulators, including increases in the cost of our deposit insurance assessments; (viii) cost and availability of capital; (ix) changes in state and federal laws, regulations or policies affecting one or more of our business segments, including changes in policies under the new Presidential administration, changes in regulatory fees, deposit insurance premiums, capital requirements and the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”); (x) changes in key management; (xi) competition in our banking, broker-dealer, and mortgage origination segments from other banks and financial institutions as well as investment banking and financial advisory firms, mortgage bankers, asset-based non-bank lenders and government agencies; (xii) legal and regulatory proceedings; (xiii) risks associated with merger and acquisition integration; and (xiv) our ability to use excess capital in an effective manner. For further discussion of such factors, see the risk factors described in our 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.