Hilltop Holdings Inc. Announces Financial Results for Third Quarter 2026

DALLAS–(BUSINESS WIRE)– Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced financial results for the third quarter of 2026. Hilltop produced income attributable to common stockholders of $24.9 million, or $0.44 per diluted share, for the third quarter of 2026, compared to $45.8 million, or $0.74 per diluted share, for the third quarter of 2025.

Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $0.22 per common share, payable on November 20, 2026 to all common stockholders of record as of the close of business on November 6, 2026. Additionally, during the third quarter of 2026, Hilltop paid $20.0 million to repurchase an aggregate of 512,075 shares of its common stock at an average price of $38.96 per share pursuant to the 2026 stock repurchase program. These shares were returned to the pool of authorized but unissued shares of common stock. As a result of share repurchases during 2026, Hilltop has approximately $86 million of available share repurchase capacity through the expiration of the 2026 stock repurchase program in January 2027.

The extent of the impact of uncertain economic conditions on our financial performance during the remainder of 2026 will depend in part on developments outside of our control, including, among others, changes in the political environment, the impact of tariffs and reciprocal tariffs, the timing and significance of further changes in U.S. Treasury yields and mortgage interest rates, and a volatile economic forecast. These conditions, coupled with exposure to changes in funding costs, inflationary pressures, elevated energy prices, and international armed conflicts and their impact on supply chains within our business segments during the third quarter of 2026 have had, and are expected to continue to have, an adverse impact on our operating results during the remainder of 2026.

Jeremy B. Ford, Chairman, President and CEO of Hilltop, said, “Through a volatile quarter marked by a policy reversal from the Federal Reserve and rapidly rising rates, Hilltop delivered a 0.67% return on average assets and returned approximately $33 million to stockholders through dividends and share repurchases.

“During the third quarter, PlainsCapital Bank generated a 1.1% return on average assets and $44 million of pre-tax income as healthy net interest margin expansion and earning asset growth were partially offset by a $10 million provision for credit losses. PrimeLending reported a pre-tax loss of $11 million as the dramatic intra-quarter increase in mortgage rates depressed purchase activity across the market and reduced the mark-to-market value of existing loans in the pipeline. We continue to focus on best positioning the business for success in this persistently challenging environment. HilltopSecurities produced a 5.9% pre-tax margin on $117 million of net revenues to deliver $7 million in pre-tax income, primarily driven by strong results within its Public Finance Services and Wealth Management business lines. Alternatively, the more interest rate-sensitive business lines, Structured Finance and Fixed Income Services, were negatively impacted during the quarter primarily due to the speed and size of the change in long-term interest rates.

“As 2026 draws to a close, we remain committed to providing exceptional service to our clients, executing on our strategic plans and creating long-term value for our stockholders.”

Third Quarter 2026 Highlights for Hilltop:

• The provision for credit losses was $10.2 million during the third quarter of 2026, compared to a reversal of credit losses of $1.0 million in the second quarter of 2026 and a reversal of credit losses of $2.5 million in the third quarter of 2025;
  • The provision for credit losses during the third quarter of 2026 was primarily driven by loan portfolio changes within the banking segment, including changes in loan mix and risk rating grade migration, net loan growth, a build in the allowance related to specific reserves, and changes in the U.S. economic outlook associated with collectively evaluated loans since the prior quarter.
• For the third quarter of 2026, net gains from sale of loans and other mortgage production income and mortgage loan origination fees was $67.7 million, compared to $76.6 million in the third quarter of 2025, an 11.6% decrease;
  • Mortgage loan origination production volume was $2.2 billion during the third quarter of 2026, compared to $2.3 billion during the third quarter of 2025;
  • Net gains from mortgage loans sold to third parties, including broker fee income, decreased to 211 basis points during the third quarter of 2026, compared to 229 basis points in the second quarter of 2026.
• Hilltop’s consolidated annualized return on average assets and return on average stockholders’ equity for the third quarter of 2026 were 0.67% and 4.67%, respectively, compared to 1.20% and 8.35%, respectively, for the third quarter of 2025;
• Hilltop’s book value per common share decreased to $36.99 at September 30, 2026, compared to $37.12 at June 30, 2026;
• Hilltop’s total assets were $16.2 billion and $16.0 billion at September 30, 2026 and June 30, 2026, respectively;
• Loans ¹, net of allowance for credit losses, were $8.3 billion and $8.2 billion at September 30, 2026 and June 30, 2026, respectively;
• Non-accrual loans were $51.4 million, or 0.54% of total loans, at September 30, 2026, compared to $54.8 million, or 0.57% of total loans, at June 30, 2026;
• Loans held for sale decreased by 37.7% from June 30, 2026 to $625.6 million at September 30, 2026;
• Total deposits ² were $11.0 billion and $10.5 billion at September 30, 2026 and June 30, 2026, respectively;
• Hilltop maintained strong capital levels with a Tier 1 Leverage Ratio ³ of 12.63% and a Common Equity Tier 1 Capital Ratio of 18.28% at September 30, 2026;
• Hilltop’s consolidated net interest margin ⁴ increased to 3.33% for the third quarter of 2026, compared to 3.21% in the second quarter of 2026;
• For the third quarter of 2026, noninterest income was $187.1 million, compared to $217.8 million in the third quarter of 2025, a 14.1% decrease;
• For the third quarter of 2026, noninterest expense was $264.1 million, compared to $271.9 million in the third quarter of 2025, a 2.9% decrease; and
• Hilltop’s effective tax rate was 25.2% during the third quarter of 2026, compared to 23.2% during the same period in 2025.
  • The effective tax rate for the third quarter of 2026 was higher than the applicable statutory rate primarily due to the impact of nondeductible expenses, nondeductible compensation expense, valuation allowances and other permanent adjustments, partially offset by investments in tax-exempt instruments.

Conference Call Information

Hilltop will host a webcast and conference call at 8:00 AM Central (9:00 AM Eastern) on Friday, October 23, 2026. Hilltop Chairman, President and CEO Jeremy B. Ford and Hilltop CFO William B. Furr will review third quarter 2026 financial results. Interested parties can access the conference call by dialing 833-461-5787 (Toll Free North America) or (+1) 585-542-9983 (International Toll) and then using the conference ID 203160733. 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, 2026, Hilltop employed approximately 3,530 people and operated 304 locations in 47 states. Hilltop Holdings’ common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol “HTH.” Find more information at Hilltop.com, PlainsCapital.com, PrimeLending.com and Hilltopsecurities.com.

FORWARD-LOOKING STATEMENTS

This press release includes “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 or implied 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 outlook, 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, political and business conditions in areas or markets where we compete, including changes in the price of crude oil and the impact of tariffs; (iv) persistent inflationary pressures and changes in the interest rate environment including potential impact of a prolonged elevated interest rate environment; (v) risks associated with concentration in real estate related loans; (vi) the effects of our 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 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.

Investor Relations Contact:
Matt Dunn
214-525-4636
mdunn@hilltop.com