Hilltop Holdings Inc. Announces Financial Results for Fourth Quarter and Full Year 2025

DALLAS– Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced financial results for the fourth quarter and full year 2025. Hilltop produced income attributable to common stockholders of $41.6 million, or $0.69 per diluted share, for the fourth quarter of 2025, compared to $35.5 million, or $0.55 per diluted share, for the fourth quarter of 2024. Income attributable to common stockholders for the full year 2025 was $165.6 million, or $2.64 per diluted share, compared to $113.2 million, or $1.74 per diluted share, for the full year 2024.

Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per common share, an 11% increase from the prior quarter, payable on February 27, 2026 to all common stockholders of record as of the close of business on February 13, 2026. Additionally, the Hilltop Board of Directors authorized a new stock repurchase program through January 2027, under which Hilltop may repurchase, in the aggregate, up to $125.0 million of its outstanding common stock. During the fourth quarter of 2025, Hilltop paid $60.8 million to repurchase an aggregate of 1,799,995 shares of its common stock at an average price of $33.77 per share. During 2025, Hilltop paid $184.0 million to repurchase an aggregate of 5,705,205 shares of its common stock at an average price of $32.26 per share pursuant to the 2025 stock repurchase program. These repurchased shares were returned to the pool of authorized but unissued shares of common stock.

The extent of the impact of uncertain economic conditions on our financial performance during 2026 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, “2025 was a strong year for Hilltop from a financial, operational and capital management perspective. Within each line of business, and on a consolidated basis, pre-tax results improved versus the prior year. Further, Hilltop was able to execute successfully on a number of key initiatives across the company, while returning $231 million to stockholders via dividends and share repurchases.

“During 2025, PlainsCapital Bank produced healthy core loan and deposit growth while delivering a 1.17% return on average assets. PrimeLending, in the face of a continued challenging home-buying market, reduced pre-tax losses by 48% as the company made further operational efficiency improvements. HilltopSecurities capitalized on a strong year from its Structured Finance, Wealth Management and Public Finance business lines to deliver $501 million in net revenue with a pre-tax margin of 13.5%. As we move into 2026, we remain focused on delivering sound results while prudently managing capital.”

Fourth Quarter 2025 Highlights for Hilltop:

• The provision for credit losses was $7.8 million during the fourth quarter of 2025, compared to a reversal of credit losses of $2.5 million in the third quarter of 2025 and a reversal of credit losses of $5.9 million in the fourth quarter of 2024;
  • The provision for credit losses during the fourth quarter of 2025 was primarily driven by a build in the allowance related to specific reserves and higher net charge-offs, changes in the U.S. economic outlook associated with collectively evaluated loans within the banking segment since the prior quarter.
• For the fourth quarter of 2025, net gains from sale of loans and other mortgage production income and mortgage loan origination fees was $76.2 million, compared to $73.7 million in the fourth quarter of 2024, a 3.4% increase;
  • Mortgage loan origination production volume was $2.4 billion during the fourth quarter of 2025, compared to $2.3 billion during the fourth quarter of 2024;
  • Net gains from mortgage loans sold to third parties, including broker fee income, increased to 250 basis points during the fourth quarter of 2025, compared to 239 basis points in the third quarter of 2025.
• Hilltop’s consolidated annualized return on average assets and return on average stockholders’ equity for the fourth quarter of 2025 were 1.09% and 7.60%, respectively, compared to 0.92% and 6.50%, respectively, for the fourth quarter of 2024;
• Hilltop’s book value per common share increased to $36.42 at December 31, 2025, compared to $35.69 at September 30, 2025;
• Hilltop’s total assets were $15.8 billion and $15.6 billion at December 31, 2025 and September 30, 2025, respectively;
• Loans ¹, net of allowance for credit losses, were $7.9 billion and $7.8 billion at December 31, 2025 and September 30, 2025, respectively;
• Non-accrual loans were $53.4 million, or 0.58% of total loans, at December 31, 2025, compared to $68.3 million, or 0.75% of total loans, at September 30, 2025;
• Loans held for sale increased by 11.9% from September 30, 2025 to $950.1 million at December 31, 2025;
• Total deposits ² were $10.9 billion and $10.7 billion at December 31, 2025 and September 30, 2025, respectively;
• Hilltop maintained strong capital levels with a Tier 1 Leverage Ratio ³ of 12.78% and a Common Equity Tier 1 Capital Ratio of 19.70% at December 31, 2025;
• Hilltop’s consolidated net interest margin ⁴ decreased to 3.02% for the fourth quarter of 2025, compared to 3.06% in the third quarter of 2025;
• For the fourth quarter of 2025, noninterest income was $217.4 million, compared to $195.6 million in the fourth quarter of 2024, an 11.1% increase;
• For the fourth quarter of 2025, noninterest expense was $268.9 million, compared to $262.8 million in the fourth quarter of 2024, a 2.3% increase; and
• Hilltop’s effective tax rate was 19.2% during the fourth quarter of 2025, compared to 14.2% during the same period in 2024.
  • The effective tax rate for the fourth quarter of 2025 was lower than the applicable statutory rate primarily due to the impact of investments in tax-exempt instruments, state refund claims and return to provision activity, partially offset by nondeductible expenses, nondeductible compensation expense and other permanent adjustments.

¹“Loans” reflect loans held for investment excluding broker-dealer margin loans, net of allowance for credit losses, of $344.5 million and $325.3 million at December 31, 2025 and September 30, 2025, respectively

²Total deposits at December 31, 2025 included estimated uninsured deposits of $5.9 billion, or approximately 54% of total deposits, while estimated uninsured deposits, excluding collateralized deposits of $693.9 million and internal accounts of $302.8 million, were $4.9 billion, or approximately 45% of total deposits.

³Based on the end of period Tier 1 capital divided by total average assets during the quarter, excluding goodwill and intangible assets.

⁴Net 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, January 30, 2026. Hilltop Chairman, President and CEO Jeremy B. Ford and Hilltop CFO William B. Furr will review fourth quarter and full year 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 55871. 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 December 31, 2025, Hilltop employed approximately 3,570 people and operated 306 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 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; and (xiii) 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.