Hilltop (HTH) 10-K27 Feb 202019 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Feb. 27, 2020	Jun. 30, 2019
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-31987
Entity Registrant Name	Hilltop Holdings Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	84-1477939
Entity Address, Address Line One	6565 Hillcrest Avenue
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75205
City Area Code	214
Local Phone Number	855-2177
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HTH
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		90,798,946
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 1,540

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 484,959	$ 644,073
Federal funds sold	394	400
Assets segregated for regulatory purposes	157,436	133,993
Securities purchased under agreements to resell	59,031	61,611
Securities:
Trading, at fair value	689,576	745,466
Available for sale, at fair value (amortized cost of $984,211 and $886,799, respectively)	998,392	875,658
Held to maturity, at amortized cost (fair value of $388,930 and $341,124, respectively)	386,326	351,012
Equity, at fair value	20,007	19,679
Total securities	2,094,301	1,991,815
Loans held for sale	2,106,361	1,393,246
Loans held for investment, net of unearned income	7,381,400	6,930,458
Allowance for loan losses	(61,136)	(59,486)
Loans held for investment, net	7,320,264	6,870,972
Broker-dealer and clearing organization receivables	1,780,280	1,440,287
Premises and equipment, net	219,982	237,373
Operating lease right-of-use assets	117,059
Other assets	510,791	580,362
Goodwill	291,435	291,435
Other intangible assets, net	30,155	38,005
Total assets	15,172,448	13,683,572
Deposits:
Noninterest-bearing	2,769,556	2,560,750
Interest-bearing	6,262,658	5,975,406
Total deposits	9,032,214	8,536,156
Broker-dealer and clearing organization payables	1,605,518	1,294,925
Short-term borrowings	1,424,010	1,065,807
Securities sold, not yet purchased, at fair value	43,817	81,667
Notes payable	283,769	228,872
Operating lease liabilities	128,402
Junior subordinated debentures	67,012	67,012
Other liabilities	458,910	435,240
Total liabilities	13,043,652	11,709,679
Commitments and contingencies (see Notes 19 and 20)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 90,640,944 and 93,610,217 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	906	936
Additional paid-in capital	1,445,233	1,489,816
Accumulated other comprehensive income (loss)	11,419	(8,627)
Retained earnings	644,860	466,737
Deferred compensation employee stock trust, net	776	825
Employee stock trust (7,794 and 10,894 shares, at cost, at December 31, 2019 and December 31, 2018, respectively)	(155)	(217)
Total Hilltop stockholders' equity	2,103,039	1,949,470
Noncontrolling interests	25,757	24,423
Total stockholders' equity	2,128,796	1,973,893
Total liabilities and stockholders' equity	$ 15,172,448	$ 13,683,572

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 984,211	$ 886,799
Held to maturity, fair value	$ 388,930	$ 341,124
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	90,640,944	93,610,217
Common stock, shares outstanding	90,640,944	93,610,217
Employee stock trust, shares	7,794	10,894

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest income:
Loans, including fees	$ 460,471	$ 436,725	$ 411,988
Securities borrowed	69,582	66,914	41,048
Securities:
Taxable	62,104	50,975	36,472
Tax-exempt	6,159	6,834	5,807
Other	16,513	17,980	11,841
Total interest income	614,829	579,428	507,156
Interest expense:
Deposits	71,509	46,002	24,695
Securities loaned	60,086	56,733	32,337
Short-term borrowings	26,778	25,816	13,751
Notes payable	10,754	10,263	10,931
Junior subordinated debentures	3,851	3,663	3,016
Other	545	627	678
Total interest expense	173,523	143,104	85,408
Net interest income	441,306	436,324	421,748
Provision for loan losses	7,206	5,088	14,271
Net interest income after provision for loan losses	434,100	431,236	407,477
Noninterest income:
Net gains from sale of loans and other mortgage production income	504,935	445,116	538,468
Mortgage loan origination fees	130,003	103,563	93,944
Securities commissions and fees	137,742	150,989	156,464
Investment and securities advisory fees and commissions	103,787	90,066	109,920
Net insurance premiums earned	132,284	136,751	142,298
Other	197,265	96,305	163,970
Total noninterest income	1,206,016	1,022,790	1,205,064
Noninterest expense:
Employees' compensation and benefits	856,265	768,688	816,994
Occupancy and equipment, net	114,327	115,207	113,943
Professional services	96,093	105,752	101,521
Loss and loss adjustment expenses	68,940	79,347	94,701
Other	204,182	224,255	242,096
Total noninterest expense	1,339,807	1,293,249	1,369,255
Income before income taxes	300,309	160,777	243,286
Income tax expense	67,332	35,050	110,142
Net income	232,977	125,727	133,144
Less: Net income attributable to noncontrolling interest	7,686	4,286	600
Income attributable to Hilltop	$ 225,291	$ 121,441	$ 132,544
Earnings per common share:
Basic (in dollars per share)	$ 2.44	$ 1.28	$ 1.36
Diluted (in dollars per share)	$ 2.44	$ 1.28	$ 1.36
Weighted average share information:
Basic (in shares)	92,345	94,969	97,137
Diluted (in shares)	92,394	95,067	97,353

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 232,977	$ 125,727	$ 133,144
Other comprehensive income:
Change in fair value of cash flow hedges, net of tax of $111, $0, and $0, respectively	417
Net unrealized gains (losses) on securities available for sale, net of tax of $6,276, $(1,558), and $(565), respectively	21,599	(5,632)	(869)
Reclassification adjustment for gains (losses) included in net income, net of tax of $(573), $0, and $(6), respectively	(1,970)		(10)
Comprehensive income	253,023	120,095	132,265
Less: comprehensive income attributable to noncontrolling interest	7,686	4,286	600
Comprehensive income applicable to Hilltop	$ 245,337	$ 115,809	$ 131,665

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Cash flow hedge, tax	$ 111	$ 0	$ 0
Net unrealized gains (losses) on securities available for sale, tax	6,276	(1,558)	(565)
Reclassification adjustment, tax	$ (573)	$ 0	$ (6)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Parent	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Deferred Compensation Employee Stock Trust, Net	Employee Stock Trust	Noncontrolling Interest	Total
Balance at Dec. 31, 2016	$ 1,870,509	$ 985	$ 1,572,877	$ 485	$ 295,568	$ 903	$ (309)	$ 4,011	$ 1,874,520
Balance (in shares) at Dec. 31, 2016		98,544,000					15,000
Increase (Decrease) in Stockholders' Equity
Net income	132,544				132,544			600	133,144
Other comprehensive income (loss)	(879)			(879)					(879)
Stock-based compensation expense	10,307		10,307						10,307
Common stock issued to board members	451		451						451
Common stock issued to board members (in shares)		17,000
Issuance of common stock related to share-based awards, net	(3,264)	$ 4	(3,268)						(3,264)
Issuance of common stock related to share-based awards, net (in shares)		337,000
Repurchases of common stock	(74,454)	$ (29)	(53,998)		(20,427)				$ (74,454)
Repurchases of common stock (in shares)		(2,916,000)							(1,057,656)
Dividends on common stock	(23,140)				(23,140)				$ (23,140)
Deferred compensation plan	7					(55)	$ 62		7
Deferred compensation plan (in shares)							(3,000)
Net cash distributed to noncontrolling interest								(1,885)	(1,885)
Balance at Dec. 31, 2017	1,912,081	$ 960	1,526,369	(394)	384,545	848	$ (247)	2,726	1,914,807
Balance (in shares) at Dec. 31, 2017		95,982,000					12,000
Increase (Decrease) in Stockholders' Equity
Net income	121,441				121,441			4,286	125,727
Other comprehensive income (loss)	(5,632)			(5,632)					(5,632)
Stock-based compensation expense	8,454		8,454						8,454
Common stock issued to board members	654		654						654
Common stock issued to board members (in shares)		30,000
Issuance of common stock related to share-based awards, net	(1,847)	$ 3	(1,850)						(1,847)
Issuance of common stock related to share-based awards, net (in shares)		327,000
Repurchases of common stock	(58,990)	$ (27)	(43,811)		(15,152)				$ (58,990)
Repurchases of common stock (in shares)		(2,729,000)							(2,729,568)
Dividends on common stock	(26,698)				(26,698)				$ (26,698)
Deferred compensation plan	7					(23)	$ 30		7
Deferred compensation plan (in shares)							(1,000)
Adoption of accounting standards				(2,601)	2,601
Net cash contributed from noncontrolling interest								17,411	17,411
Balance at Dec. 31, 2018	1,949,470	$ 936	1,489,816	(8,627)	466,737	825	$ (217)	24,423	1,973,893
Balance (in shares) at Dec. 31, 2018		93,610,000					11,000
Increase (Decrease) in Stockholders' Equity
Net income	225,291				225,291			7,686	232,977
Other comprehensive income (loss)	20,046			20,046					20,046
Stock-based compensation expense	11,243		11,243						11,243
Common stock issued to board members	573		573						573
Common stock issued to board members (in shares)		27,000
Issuance of common stock related to share-based awards, net	(1,978)	$ 4	(1,982)						(1,978)
Issuance of common stock related to share-based awards, net (in shares)		394,000
Repurchases of common stock	(73,385)	$ (34)	(54,417)		(18,934)				$ (73,385)
Repurchases of common stock (in shares)		(3,390,000)							(3,390,247)
Dividends on common stock	(29,627)				(29,627)				$ (29,627)
Deferred compensation plan	13					(49)	$ 62		13
Deferred compensation plan (in shares)							(3,000)
Adoption of accounting standards	1,393				1,393				1,393
Net cash distributed to noncontrolling interest								(6,352)	(6,352)
Balance at Dec. 31, 2019	$ 2,103,039	$ 906	$ 1,445,233	$ 11,419	$ 644,860	$ 776	$ (155)	$ 25,757	$ 2,128,796
Balance (in shares) at Dec. 31, 2019		90,641,000					8,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Jan. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.32	$ 0.28	$ 0.24

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income	$ 232,977	$ 125,727	$ 133,144
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for loan losses	7,206	5,088	14,271
Depreciation, amortization and accretion, net	1,160	(2,345)	(13,869)
Net realized losses (gains) on securities	2,548		(16)
Net change in fair value of equity securities	(1,881)	2,486
Deferred income taxes	(3,855)	13,197	40,933
Other, net	13,017	8,838	12,085
Net change in securities purchased under agreements to resell	2,580	124,926	(97,107)
Net change in trading securities	55,890	(14,781)	(465,151)
Net change in broker-dealer and clearing organization receivables	(338,158)	23,618	(42,449)
Net change in FDIC indemnification asset		22,831	24,890
Net change in other assets	53,038	13,741	(47,352)
Net change in broker-dealer and clearing organization payables	206,170	(7,054)	(2,412)
Net change in other liabilities	85,329	(93,890)	(55,557)
Net change in securities sold, not yet purchased	(37,850)	(151,154)	78,932
Proceeds from sale of mortgage servicing rights asset		9,303	17,499
Net gains from sales of loans	(504,935)	(445,116)	(538,468)
Loans originated for sale	(16,644,259)	(14,287,551)	(15,014,118)
Proceeds from loans sold	16,438,000	15,041,676	15,634,027
Net cash provided by (used in) operating activities	(433,023)	389,540	(320,718)
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	73,924	43,699	56,359
Proceeds from sales, maturities and principal reductions of securities available for sale	313,672	243,708	298,737
Proceeds from sales, maturities and principal reductions of equity securities	1,860	3
Purchases of securities held to maturity	(109,622)	(39,259)	(60,939)
Purchases of securities available for sale	(415,763)	(323,991)	(471,047)
Purchases of equity securities	(307)	(933)
Net change in loans held for investment	(423,890)	(110,615)	(216,562)
Purchases of premises and equipment and other assets	(42,287)	(68,079)	(31,152)
Proceeds from sales of premises and equipment and other real estate owned	14,309	25,847	32,297
Proceeds from redemption of bank owned life insurance	904
Net cash received from (paid for) Federal Home Loan Bank and Federal Reserve Bank stock	(17,092)	3,198	34,346
Net cash paid for acquisition		(63,245)
Net cash used in investing activities	(604,292)	(289,667)	(357,961)
Financing Activities
Net change in deposits	600,481	196,060	857,155
Net change in short-term borrowings	358,203	(140,617)	(210,865)
Proceeds from notes payable	1,050,907	664,045	403,136
Payments on notes payable	(996,095)	(643,921)	(512,193)
Payments to repurchase common stock	(73,385)	(58,990)	(27,388)
Dividends paid on common stock	(29,627)	(26,698)	(23,140)
Net cash received from (distributed to) noncontrolling interest	(6,352)	17,411	(1,885)
Taxes paid on employee stock awards netting activity	(1,979)	(1,844)	(3,264)
Other, net	(515)	(813)	(674)
Net cash provided by financing activities	901,638	4,633	480,882
Net change in cash, cash equivalents and restricted cash	(135,677)	104,506	(197,797)
Cash, cash equivalents and restricted cash, beginning of year	778,466	673,960	871,757
Cash, cash equivalents and restricted cash, end of year	642,789	778,466	673,960
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	168,535	143,201	84,309
Cash paid for income taxes, net of refunds	56,901	8,378	85,840
Supplemental Schedule of Non-Cash Activities
Derecognition of construction in progress related to build-to-suit lease obligations		27,802
Conversion of loans to other real estate owned	4,669	6,899	8,853
Additions to mortgage servicing rights	$ 13,755	$ 25,028	$ 16,401

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 484,959	$ 644,073	$ 486,977
Federal funds sold	394	400	405
Assets segregated for regulatory purposes	157,436	133,993	186,578
Total cash, cash equivalents and restricted cash	$ 642,789	$ 778,466	$ 673,960	$ 871,757

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	12 Months Ended
Summary of Significant Accounting and Reporting Policies	Dec. 31, 2019
Summary of Significant Accounting and Reporting Policies
Summary of Significant Accounting and Reporting Policies	1. Summary of Significant Accounting and Reporting Policies Nature of Operations Hilltop Holdings Inc. (“Hilltop” and, collectively with its subsidiaries, the “Company”) is a financial holding company registered under the Bank Holding Company Act of 1956. The Company’s primary line of business is to provide business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the “Bank”). In addition, the Company provides an array of financial products and services through its broker-dealer, mortgage origination and insurance subsidiaries. The Company, headquartered in Dallas, Texas, provides its products and services through three primary business units, PlainsCapital Corporation (“PCC”), Hilltop Securities Holdings LLC (“Securities Holdings”) and National Lloyds Corporation (“NLC”). PCC is a financial holding company, that provides, through its subsidiaries, traditional banking, wealth and investment management and treasury management services primarily in Texas and residential mortgage lending throughout the United States. Securities Holdings is a holding company, that provides, through its subsidiaries, investment banking and other related financial services, including municipal advisory, sales, trading and underwriting of taxable and tax-exempt fixed income securities, equity trading, clearing, securities lending, structured finance and retail brokerage services throughout the United States. NLC is a property and casualty insurance holding company that provides, through its subsidiaries, fire and homeowners insurance to low value dwellings and manufactured homes primarily in Texas and other areas of the southern United States. Basis of Presentation Hilltop owns 100% of the outstanding stock of PCC. PCC owns 100% of the outstanding stock of the Bank and 100% of the membership interest in Hilltop Opportunity Partners LLC, a merchant bank utilized to facilitate investments in companies engaged in non-financial activities. The Bank owns 100% of the outstanding stock of PrimeLending, a PlainsCapital Company (“PrimeLending”). PrimeLending owns a 100% membership interest in PrimeLending Ventures Management, LLC (“Ventures Management”), which holds an ownership interest in and is the managing member of certain affiliated business arrangements (“ABAs”). PCC also owns 100% of the outstanding common securities of PCC Statutory Trusts I, II, III and IV (the “Trusts”), which are not included in the consolidated financial statements under the requirements of the Variable Interest Entities (“VIE”) Subsections of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), because the primary beneficiaries of the Trusts are not within the consolidated group. Hilltop has a 100% membership interest in Securities Holdings, which operates through its wholly-owned subsidiaries, Hilltop Securities Inc. (“Hilltop Securities”), Hilltop Securities Independent Network (“HTS Independent Network”) (collectively, the “Hilltop Broker-Dealers”) and Hilltop Securities Asset Management, LLC. Hilltop Securities is a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and FINRA and a member of the New York Stock Exchange (“NYSE”), HTS Independent Network is an introducing broker-dealer that is also registered with the SEC and FINRA, and Hilltop Securities Asset Management, LLC, is a registered investment adviser under the Investment Advisers Act of 1940. Hilltop also owns 100% of NLC, which operates through its wholly owned subsidiaries, National Lloyds Insurance Company (“NLIC”) and American Summit Insurance Company (“ASIC”). In addition, Hilltop owns 100% of the membership interest in each of HTH Hillcrest Project LLC (“HTH Project LLC”) and Hilltop Investments I, LLC The consolidated financial statements include the accounts of the above-named entities. Intercompany transactions and balances have been eliminated. Noncontrolling interests have been recorded for minority ownership in entities that are not wholly owned and are presented in compliance with the provisions of Noncontrolling Interest in Subsidiary Subsections of the ASC. Certain reclassifications have been made to the prior period consolidated financial statements to conform with the current period presentation, including reclassifications due to the adoption of new accounting pronouncements. In preparing these consolidated financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all stockholders and other financial statement users, or filed with the SEC. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates regarding the allowance for loan losses, the fair values of financial instruments, reserves for losses and loss adjustment expenses (“LAE”), the mortgage loan indemnification liability, and the potential impairment of assets are particularly subject to change. The Company has applied its critical accounting policies and estimation methods consistently in all periods presented in these consolidated financial statements. Acquisition Accounting Acquisitions are accounted for under the acquisition method of accounting. Purchased assets, including identifiable intangible assets, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a bargain purchase gain is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Securities Purchased Under Agreements to Resell Securities purchased under agreements to resell (reverse repurchase agreements or reverse repos) are treated as collateralized financings and are carried at the amounts at which the securities will subsequently be resold as specified in the agreements. The Company is in possession of collateral with a fair value equal to or in excess of the contract amounts. Securities Management classifies securities at the time of purchase and reassesses such designation at each balance sheet date. Securities held for resale to facilitate principal transactions with customers are classified as trading and are carried at fair value, with changes in fair value reflected in the consolidated statements of operations. Hilltop reports interest income on trading securities as interest income on securities and other changes in fair value as other noninterest income. Debt securities held but not intended to be held to maturity or on a long-term basis are classified as available for sale. Securities included in this category are those that management intends to use as part of its asset/liability management strategy and that may be sold in response to changes in interest rates, prepayment risk or other factors related to interest rate and prepayment risk. Debt securities available for sale are carried at fair value. Unrealized holding gains and losses on debt securities available for sale, net of taxes, are reported in other comprehensive income (loss) until realized. Premiums and discounts are recognized in interest income using the effective interest method and reflect any optionality that may be embedded in the security. Equity securities are carried at fair value, with changes in fair value reflected in the consolidated statements of operations. Equity securities that do not have readily determinable fair values are initially recorded at cost and subsequently remeasured when there is (i) an observable transaction involving the same investment, (ii) an observable transaction involving a similar investment from the same issuer or (iii) an impairment. These remeasurements are reflected in the consolidated statements of operations. Purchases and sales (and related gain or loss) of securities are recorded on the trade date, based on specific identification. Declines in the fair value of available-for-sale debt securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the other-than-temporary impairment (“OTTI”) is related to credit losses. The amount of the OTTI related to other factors is recognized in other comprehensive income (loss). In estimating cash flows related to these securities, management primarily considers, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) the historic and implied volatility of the security, (iv) failure of the issuer to make scheduled interest payments and (v) changes to the rating of the security by a rating agency. Loans Held for Sale Loans held for sale consist primarily of single-family residential mortgages funded through PrimeLending. These loans are generally on the consolidated balance sheet between 30 and 45 days. Substantially all mortgage loans originated by PrimeLending are sold to various investors in the secondary market, the majority with servicing released. Mortgage loans held for sale are carried at fair value in accordance with the provisions of the Fair Value Option Subsections of the ASC (the “Fair Value Option”). Changes in the fair value of the loans held for sale are recognized in earnings and fees and costs associated with origination are recognized as incurred. The specific identification method is used to determine realized gains and losses on sales of loans, which are reported as net gains (losses) in noninterest income. Loans sold are subject to certain indemnification provisions with investors, including the repurchase of loans sold and repayment of certain sales proceeds to investors under certain conditions. In addition, certain mortgage loans guaranteed by U.S. Government agencies and sold into Government National Mortgage Association (“GNMA”) pools may, under certain conditions specified in the government programs, become subject to repurchase by PrimeLending. When such loans subject to repurchase no longer qualify for sale accounting, they are reported as loans held for sale in the consolidated balance sheets. Loans Held for Investment Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the amount of unpaid principal reduced by unearned income, net unamortized deferred fees and an allowance for loan losses. Unearned income on installment loans and interest on other loans is recognized using the effective interest method. Net fees received for providing loan commitments and letters of credit that result in loans are deferred and amortized to interest income over the life of the related loan, beginning with the initial borrowing. Net fees on commitments and letters of credit that are not expected to be funded are amortized to noninterest income over the commitment period. Income on direct financing leases is recognized on a basis that achieves a constant periodic rate of return on the outstanding investment. Impaired loans include non-accrual loans, troubled debt restructurings, purchased credit impaired (“PCI”) loans and partially charged-off loans. The accrual of interest on impaired loans is discontinued when, in management’s opinion, there is a clear indication that the borrower’s cash flow may not be sufficient to meet principal and interest payments, which is generally when a loan is 90 days past due unless the asset is both well secured and in the process of collection. When a loan is placed on non-accrual status, all previously accrued and unpaid interest is charged against income. If the ultimate collectability of principal, wholly or partially, is in doubt, any payment received on a loan on which the accrual of interest has been suspended is applied to reduce principal to the extent necessary to eliminate such doubt. Once the collection of the remaining recorded loan balance is fully expected, interest income is recognized on a cash basis. Management has defined the loans acquired in a business combination as acquired loans. Acquired loans are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. At acquisition, acquired loans are segregated between those considered to be credit impaired and those without credit impairment at acquisition. To make this determination, management considered such factors as past due status, non-accrual status and credit risk ratings. The fair value of acquired performing loans was determined by discounting expected cash flows, both principal and interest, at prevailing market interest rates. The difference between the fair value and principal balances due at acquisition date, the fair value discount, is accreted into income over the estimated life of each loan. Loans acquired in the Federal Deposit Insurance Corporation (“FDIC”) -assisted transaction whereby the Bank acquired certain assets and assumed certain liabilities of Edinburg, Texas-based First National Bank (“FNB”) on September 13, 2013 (the “FNB Transaction”) were previously subject to loss-share agreements with the FDIC. At the close of business on September 30, 2018, the loss-share agreements for commercial assets with the FDIC expired, except for certain obligations on the part of the Bank that survived. On October 17, 2018, the Bank and the FDIC entered into a Termination Agreement pursuant to which all rights and obligations of the Bank and the FDIC under the FDIC loss-share agreements were resolved and terminated. Accordingly, loans which were previously referred to as either “covered loans” if covered by the loss-share agreements or otherwise “non-covered loans” are now collectively referred to as “loans held for investment.” PCI loans acquired by the Company are accounted for either on an individual loan basis or in pools. The Company has established under its PCI accounting policy a framework to aggregate certain acquired loans into various loan pools based on a minimum of two layers of similar risk characteristics for the purpose of determining their respective fair values as of their acquisition dates, and for applying the subsequent recognition and measurement provisions for income accretion and impairment testing. The similar risk characteristics used for the pooling of PCI loans are risk grade and loan collateral type. PCI loans show evidence of credit deterioration that make it probable that not all contractually required principal and interest payments will be collected. Their fair value was initially based on an estimate of cash flows, both principal and interest, expected to be collected, discounted at prevailing market rates of interest. Management estimates cash flows using key assumptions such as default rates, loss severity rates assuming default, prepayment speeds and estimated collateral values. The excess of cash flows expected to be collected from a loan or pool over its estimated fair value at acquisition is referred to as accretable yield and is recognized in interest income using an effective yield method over the remaining life of the loan or pool. The excess of total contractual cash flows over the cash flows expected to be received at acquisition is referred to as the nonaccretable difference. Subsequent to acquisition, management must update these estimates of cash flows expected to be collected at each reporting date. These updates require the continued use of key assumptions and estimates, similar to those used in the initial estimate of fair value. The Bank accretes the discount for PCI loans for which it can predict the timing and amount of cash flows. PCI loans for which a discount is accreted are reported as performing loans. Allowance for Loan Losses The allowance for loan losses is a reserve established through a provision for loan losses charged to or recovered from expense, which represents management’s best estimate of probable losses inherent in the existing portfolio of loans at the balance sheet date. The allowance for loan losses includes allowance allocations calculated in accordance with the regulatory Interagency Policy Statement on the Allowance for Loan and Lease Losses and the Receivables and Contingencies Topics of the ASC. The Bank’s allowance for loan losses consists of three elements: (i) specific valuation allowances established for probable losses on individually impaired loans; (ii) general historical valuation allowances calculated based on historical loan loss experience for homogenous loans with similar collateral; and (iii) valuation allowances to adjust general reserves based on current economic conditions and other qualitative risk factors, including projected loss emergence period, both internal and external to the Bank. The Bank’s methodology regarding the calculation of the allowance for loan losses is discussed in more detail within Note 5 to the consolidated financial statements. Broker-Dealer and Clearing Organization Transactions Amounts recorded in broker-dealer and clearing organization receivables and payables include securities lending activities, as well as amounts related to securities transactions for either customers of the Hilltop Broker-Dealers or for the accounts of the Hilltop Broker-Dealers. Securities borrowed and securities loaned transactions are generally reported as collateralized financings. Securities borrowed transactions require the Hilltop Broker-Dealers to deposit cash, letters of credit, or other collateral with the lender. With respect to securities loaned, the Hilltop Broker-Dealers receive collateral in the form of cash or other assets in an amount generally in excess of the market value of securities loaned. The Hilltop Broker-Dealers monitor the market value of securities borrowed and loaned on a daily basis, with additional collateral obtained or refunded as necessary. Interest income and interest expense associated with collateralized financings is included in the accompanying consolidated statements of operations. Insurance Premiums Receivable Insurance premiums receivable include premiums written and not yet collected. NLC routinely evaluates the receivable balance to determine if an allowance for uncollectible amounts is necessary. At December 31, 2019, the valuation allowance for premiums receivable was $0.4 million, while at December 31, 2018, NLC determined that no valuation allowance was necessary. Deferred Policy Acquisition Costs Costs of acquiring insurance vary with, and are primarily related to, the successful acquisition of new and renewal business. These costs primarily consist of commissions, premium taxes and underwriting expenses, and are deferred and amortized over the terms of the policies or reinsurance treaties to which they relate. Proceeds from reinsurance transactions that represent recovery of acquisition costs reduce applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. Future investment income is considered in determining the recoverability of deferred policy acquisition costs. NLC regularly reviews the categories of acquisition costs that are deferred and assesses the recoverability of this asset. A premium deficiency and a corresponding charge to income is recognized if the sum of the expected loss and LAE, unamortized policy acquisition costs, and maintenance costs exceed related unearned insurance premiums and anticipated investment income. At December 31, 2019 and 2018, there was no premium deficiency. Reinsurance In the normal course of business, NLC seeks to reduce the loss that may arise from catastrophes or other events that could cause unfavorable underwriting results by reinsuring certain levels of risk in various areas of exposure with other insurance enterprises or reinsurers. Amounts recoverable from reinsurers are estimated in a manner consistent with the reinsured policy. NLC routinely evaluates the receivable balance to determine if any uncollectible balances exist. Net insurance premiums earned, losses and LAE, and policy acquisition and other underwriting expenses are reported net of the amounts related to reinsurance ceded to other companies. Amounts recoverable from reinsurers related to the portions of the liability for losses and LAE and unearned insurance premiums ceded to them are included in other assets within the consolidated balance sheets. Reinsurance assumed from other companies, including assumed premiums written and earned, and losses and LAE, is accounted for in the same manner as direct insurance written. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization computed principally on the straight-line method over the estimated useful lives of the assets, which range between 3 and 40 years. Gains or losses on disposals of premises and equipment are included in results of operations. Leases The Company determines if an arrangement is a lease at inception. Operating leases with a term of greater than one year are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the Company’s consolidated balance sheets. Finance leases are included in premises and equipment and other liabilities on the Company’s consolidated balance sheets. The Company has lease agreements with lease and nonlease components, which are generally accounted for as a single lease component. Leases of low-value assets are assessed on a lease-by-lease basis to determine the need for balance sheet capitalization. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate commensurate with the lease term based on the information available at the lease commencement date in determining the present value of lease payments. No significant judgments or assumptions were involved in developing the estimated operating lease liabilities as the Company’s operating lease liabilities largely represent the future rental expenses associated with operating leases, and the incremental borrowing rates are based on publicly available interest rates. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease. These options to extend or terminate are assessed on a lease-by-lease basis, and the ROU assets and lease liabilities are adjusted when it is reasonably certain that an option will be exercised. Rental expense for lease payments is recognized on a straight-line basis over the lease term and is included in occupancy and equipment, net within our consolidated statements of operations. Other Real Estate Owned Real estate acquired through foreclosure (“OREO”) is included in other assets within the consolidated balance sheets and is carried at management’s estimate of fair value, less estimated cost to sell. Any excess of recorded investment over fair value, less cost to sell, is charged against either the allowance for loan losses or the related PCI pool discount when property is initially transferred to OREO. Subsequent to the initial transfer to OREO, downward valuation adjustments are charged against earnings. Valuation adjustments, revenue and expenses from operations of the properties and resulting gains or losses on sale are included within the consolidated statements of operations in other noninterest income or expense, as appropriate. Prior to the termination of the FDIC loss-share agreements, acquired OREO previously subject to FDIC loss-share agreements was referred to as “covered OREO” and reported separately in the consolidated balance sheets. Covered OREO was reported exclusive of expected reimbursement cash flows from the FDIC. Foreclosed covered loan collateral was transferred into covered OREO at the collateral’s fair value, less selling costs. Covered OREO was initially recorded at its estimated fair value based on similar market comparable valuations, less estimated selling costs. Subsequently, loan collateral transferred to OREO was recorded at its net realizable value. Any subsequent valuation adjustments due to declines in fair value of the covered OREO were charged to noninterest expense, while any recoveries of previous valuation decreases were credited to noninterest expense. Subsequent to the termination of the loss-share agreements, OREO which was previously referred to as “covered OREO” if covered by the loss-share agreements or otherwise “non-covered OREO” is now collectively referred to as OREO. FDIC Indemnification Asset As previously discussed, the loss-share agreements with the FDIC entered into in connection with the FNB Transaction were terminated in the fourth quarter of 2018. Subsequent to the termination of the loss-share agreements and the receipt of payment from the FDIC, the remaining balance of the amounts receivable from the FDIC under the loss-share agreements (the “FDIC Indemnification Asset”) was removed from the consolidated balance sheets. The balance of the FDIC Indemnification Asset as of December 31, 2017, is included in other assets within the consolidated balance sheets. Prior to the termination of the loss-share agreements, the Company accounted for the FDIC Indemnification Asset in accordance with the Business Combination Topic of the ASC. The FDIC Indemnification Asset was initially recorded at fair value, based on the discounted value of expected future cash flows under the loss-share agreements. The difference between the present value and the undiscounted cash flows the Bank expected to collect from the FDIC was accreted into noninterest income or amortized into noninterest expense within the consolidated statements of operations over the life of the FDIC Indemnification Asset. Debt Issuance Costs The Company capitalizes debt issuance costs associated with financing of debt. These costs are amortized using the effective interest method over the repayment term of the debt. Unamortized debt issuance costs are presented in the consolidated balance sheets as a direct reduction from the associated debt liability. Debt issuance costs of $0.2 million during 2019, $0.2 million during 2018, and $0.1 million during 2017 were amortized and included in interest expense within the consolidated statements of operations. In April 2015, debt issuance costs of $1.9 million were capitalized in connection with Hilltop’s issuance of the 5% senior notes due 2025. Goodwill Goodwill, which represents the excess of cost over the fair value of the net assets acquired, is allocated to reporting units and tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount should be assessed. The Company performs required annual impairment tests of its goodwill as of October 1 st Intangibles and Other Long-Lived Assets Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. The Company’s intangible assets primarily consist of core deposits, trade names and customer relationships. Intangible assets with definite useful lives are generally amortized on the straight-line method over their estimated lives, although certain intangibles, including core deposits, and customer and agent relationships, are amortized on an accelerated basis. Amortization of intangible assets is recorded in other noninterest expense within the consolidated statements of operations. Intangible assets with indefinite useful lives are tested for impairment on an annual basis as of October 1 st Mortgage Servicing Rights The Company determines its portfolio segment of residential mortgage servicing assets based on the asset type being serviced along with the methods used to manage the risk inherent in the servicing assets, which includes the market inputs used to value the servicing assets. The Company measures its servicing assets at fair value and reports changes in fair value through earnings. The retained mortgage servicing rights (“MSR”) asset is measured at fair value as of the date of sale of the related mortgage loan. Subsequent fair value measurements of the MSR asset are determined by valuing the projected net servicing cash flows, which are then discounted to estimate fair value using a discounted cash flow model. Assumptions used include market discount rates, anticipated prepayment speeds, delinquency and foreclosure rates, and ancillary fee income. The model assumptions and the MSR asset fair value estimates are compared to observable trades of similar portfolios as well as to MSR asset broker valuations and industry surveys, as available. The expected life of the loan can vary from management’s estimates due to prepayments by borrowers. The value of the MSR asset is also dependent upon the discount rate used in the model, which is based on current market rates that are reviewed by management on an ongoing basis. Derivative Financial Instruments The Company enters into various derivative financial instruments to manage interest rate risk or to hedge specified assets and liabilities. The Company’s derivative financial instruments also include interest rate lock commitments (“IRLCs”) executed with its customers that allow those customers to obtain a mortgage loan on a future date at an agreed-upon interest rate. The IRLCs, forward commitments, interest rate swaps, U.S. Treasury bond futures and options and Eurodollar futures meet the definition of a derivative under the provisions of the Derivatives and Hedging Topic of the ASC. Derivatives are recorded at fair value in the consolidated balance sheets. To qualify for hedge accounting, derivatives must be highly effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the derivative contract. If derivative instruments are designated as hedges of fair values, the change in the fair value of both the derivative instrument and the hedged item are included in current earnings. Changes in the fair value of derivatives designated as hedges of cash flows are recorded in other comprehensive income (loss). Actual cash receipts and/or payments and related accruals on derivatives related to hedges are recorded as adjustments to the line item where the hedged item’s effect on earnings is recorded. Revenue from Contracts with Customers Certain activities primarily within the Company’s broker-dealer and banking segments are subject to the provisions of ASC 606, Revenue from Contracts with Customers The Company’s banking segment has three primary lines of business: (i) business banking, (ii) personal banking and (iii) wealth and investment management. Revenue from contracts with customers subject to the guidance in ASC 606 from the banking segment (certain retail and trust fees) is included within the other noninterest income line item within the consolidated statements of operations. Retail and trust fees are generally recognized at the time the related transaction occurs or when services are completed. Fees are based on the dollar amount of the transaction or are otherwise predefined in contracts associated with each customer account depending on the type of account and services provided. Reserve for Losses and Loss Adjustment Expenses The liability for losses and LAE includes an amount determined from loss reports and individual cases and an amount, based on past experience, for losses incurred but not reported (“IBNR”).

Acquisition

Acquisition	12 Months Ended
Acquisition	Dec. 31, 2019
Acquisition
Acquisition	2. Acquisition On August 1, 2018, in an effort to expand its Houston-area banking operations, the Company acquired privately-held The Bank of River Oaks (“BORO”) in an all-cash transaction (the “BORO Acquisition”). Pursuant to the terms of the definitive agreement, the Company paid cash in the aggregate amount of $85 million to the shareholders and option holders of BORO. The operations of BORO are included in the Bank’s operating results beginning August 1, 2018. BORO’s results of operations prior to the acquisition date are not included in the Company’s consolidated operating results. The BORO Acquisition was accounted for using the acquisition method of accounting, and accordingly, purchased assets, including identifiable intangible assets, and assumed liabilities were recorded at their respective acquisition date fair values. The resulting fair values of the identifiable assets acquired and liabilities assumed from BORO at August 1, 2018 are summarized in the following table (in thousands). Cash and due from banks $ 21,756 Securities 60,477 Loans held for investment 326,618 Other assets 25,912 Total identifiable assets acquired 434,763 Deposits 376,393 Short-term borrowings 10,000 Other liabilities 2,996 Total liabilities assumed 389,389 Net identifiable assets acquired 45,374 Goodwill resulting from the acquisition 39,627 Net assets acquired $ 85,001 The goodwill of $39.6 million resulting from the BORO Acquisition represents the inherent long-term value expected from the business opportunities created from combining BORO with the Company. The Company used significant estimates and assumptions to value the identifiable assets acquired and liabilities assumed. The amount of goodwill recorded in connection with the Company’s acquisition of BORO is not deductible for tax purposes. Included within the fair value of other assets in the table above are identifiable core deposits intangible assets recorded in connection with the BORO Acquisition of $10.0 million which is being amortized on an accelerated basis over an estimated useful life of six years . The fair value of the core deposit intangible assets was estimated using the net cost savings method, a variation of the income approach. This involved the use of the following significant assumptions: cost of deposits, customer attrition rate, and discount rate. During 2018, pre-tax transaction- and integration-related expenses of $8.2 million associated with the BORO Acquisition are included in noninterest expense within the consolidated statement of operations. Such expenses were for professional services and other incremental employee costs associated with the integration of BORO’s operations. In connection with the BORO Acquisition, the Company acquired loans both with and without evidence of credit quality deterioration since origination. The acquired loans were initially recorded at fair value with no carryover of any allowance for loan losses. Acquired loans were segregated between those considered to be PCI loans and those without credit impairment at acquisition. The following table presents details on acquired loans at the acquisition date (in thousands). Loans, excluding PCI Total Loans Held PCI Loans Loans for Investment Commercial real estate $ 119,188 $ 5,350 $ 124,538 1 - 4 family residential 55,487 39 55,526 Construction and land development 37,134 — 37,134 Commercial and industrial 98,259 2,127 100,386 Consumer 9,021 13 9,034 Total $ 319,089 $ 7,529 $ 326,618 The following table presents information about the PCI loans at acquisition (in thousands). Contractually required principal and interest payments $ 10,730 Nonaccretable difference 2,859 Cash flows expected to be collected 7,871 Accretable difference 342 Fair value of loans acquired with a deterioration of credit quality $ 7,529 The following table presents information about the acquired loans without credit impairment at acquisition (in thousands). Contractually required principal and interest payments $ 381,551 Contractual cash flows not expected to be collected 15,286 Fair value at acquisition 319,089

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2019
Fair Value Measurements
Fair Value Measurements	3. Fair Value Measurements Fair Value Measurements and Disclosures The Company determines fair values in compliance with The Fair Value Measurements and Disclosures Topic of the ASC (the “Fair Value Topic”). The Fair Value Topic defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. The Fair Value Topic defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Fair Value Topic assumes that transactions upon which fair value measurements are based occur in the principal market for the asset or liability being measured. Further, fair value measurements made under the Fair Value Topic exclude transaction costs and are not the result of forced transactions. The Fair Value Topic includes a fair value hierarchy that classifies fair value measurements based upon the inputs used in valuing the assets or liabilities that are the subject of fair value measurements. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs, as indicated below. ● Level 1 Inputs : Unadjusted quoted prices in active markets for identical assets or liabilities that the Company can access at the measurement date. ● Level 2 Inputs : Observable inputs other than Level 1 prices. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, yield curves, prepayment speeds, default rates, credit risks and loss severities), and inputs that are derived from or corroborated by market data, among others. ● Level 3 Inputs : Unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Level 3 inputs include pricing models and discounted cash flow techniques, among others . Fair Value Option The Company has elected to measure substantially all of PrimeLending’s mortgage loans held for sale and the retained MSR asset at fair value, under the provisions of the Fair Value Option. The Company elected to apply the provisions of the Fair Value Option to these items so that it would have the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. At December 31, 2019 and 2018, the aggregate fair value of PrimeLending’s mortgage loans held for sale accounted for under the Fair Value Option was $1.94 billion and $1.26 billion, respectively, and the unpaid principal balance of those loans was $1.88 billion and $1.21 billion, respectively. The interest component of fair value is reported as interest income on loans in the accompanying consolidated statements of operations. The Company holds a number of financial instruments that are measured at fair value on a recurring basis, either by the application of the Fair Value Option or other authoritative pronouncements. The fair values of those instruments are determined primarily using Level 2 inputs, as further described below. Those inputs include quotes from mortgage loan investors and derivatives dealers and data from independent pricing services. The fair value of loans held for sale is determined using an exit price method. Trading Securities Available For Sale Securities Equity Securities Loans Held for Sale Derivatives commitment to the balance sheet date, adjusted for projected loan closing rates. PrimeLending determines the value of the underlying mortgage loan as discussed in “Loans Held for Sale”, above. The Hilltop Broker-Dealers determine the value of the underlying mortgage loan from prices of comparable securities used to value forward sale commitments. Additionally, PrimeLending also uses dealer quotes to value Eurodollar futures and U.S. Treasury bond futures and options used to hedge interest rate risk, and the Hilltop Broker-Dealers use dealer quotes to value Eurodollar futures and U.S. Treasury bond futures and options used to hedge changes in the fair value of securities. MSR Asset Securities Sold, Not Yet Purchased The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). Level 1 Level 2 Level 3 Total December 31, 2019 Inputs Inputs Inputs Fair Value Trading securities $ — $ 689,576 $ — $ 689,576 Available for sale securities — 998,392 — 998,392 Equity securities 20,007 — — 20,007 Loans held for sale — 1,868,518 67,195 1,935,713 Derivative assets — 33,129 — 33,129 MSR asset — — 55,504 55,504 Securities sold, not yet purchased 29,080 14,737 — 43,817 Derivative liabilities — 17,140 — 17,140 Level 1 Level 2 Level 3 Total December 31, 2018 Inputs Inputs Inputs Fair Value Trading securities $ 7,947 $ 737,519 $ — $ 745,466 Available for sale securities — 875,658 — 875,658 Equity securities 19,679 — — 19,679 Loans held for sale — 1,207,311 50,464 1,257,775 Derivative assets — 35,010 — 35,010 MSR asset — — 66,102 66,102 Securities sold, not yet purchased 33,000 48,667 — 81,667 Derivative liabilities — 26,355 — 26,355 The following table includes a rollforward for those financial instruments measured at fair value using Level 3 inputs (in thousands). Total Gains or Losses (Realized or Unrealized) Balance at Included in Other Beginning of Purchases/ Sales/ Transfers into Included in Comprehensive Balance at Year Additions Reductions Level 3 Net Income Income (Loss) End of Year Year ended December 31, 2019 Loans held for sale $ 50,464 $ 60,475 $ (34,849) $ 1,136 $ (10,031) $ — $ 67,195 MSR asset 66,102 13,755 — — (24,353) — 55,504 Total $ 116,566 $ 74,230 $ (34,849) $ 1,136 $ (34,384) $ — $ 122,699 Year ended December 31, 2018 Loans held for sale $ 36,972 $ 61,573 $ (41,801) — $ (6,280) $ — $ 50,464 MSR asset 54,714 25,028 (9,303) — (4,337) — 66,102 Total $ 91,686 $ 86,601 $ (51,104) $ — $ (10,617) $ — $ 116,566 Year ended December 31, 2017 Loans held for sale $ 35,801 $ 36,891 $ (26,773) $ — $ (8,947) $ — $ 36,972 MSR asset 61,968 16,401 (17,499) — (6,156) — 54,714 Total $ 97,769 $ 53,292 $ (44,272) $ — $ (15,103) $ — $ 91,686 All net realized and unrealized gains (losses) in the table above are reflected in the accompanying consolidated financial statements. The unrealized gains (losses) relate to financial instruments still held at December 31, 2019. For Level 3 financial instruments measured at fair value on a recurring basis at December 31, 2019 and 2018, the significant unobservable inputs used in the fair value measurements were as follows. Range (Weighted-Average) December 31, Financial instrument Valuation Technique Unobservable Inputs 2019 2018 Loans Discounted cash flows / Market comparable Projected price 92 - 96 % ( 95 %) 95 - 96 % ( 95 %) MSR asset Discounted cash flows Constant prepayment rate 13.16 % 10.51 % Discount rate 11.14 % 11.11 % The Company had no transfers Levels 1 during The following table presents those changes in fair value of instruments recognized in the consolidated statements of operations that are accounted for under the Fair Value Option (in thousands). Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 Other Total Other Total Other Total Net Noninterest Changes in Net Noninterest Changes in Net Noninterest Changes in Gains (Losses) Income Fair Value Gains (Losses) Income Fair Value Gains (Losses) Income Fair Value Loans held for sale $ 12,775 $ — $ 12,775 $ (8,063) $ — $ (8,063) $ 10,655 $ — $ 10,655 MSR asset (24,353) — (24,353) (4,337) — (4,337) (6,156) — (6,156) The Company also determines the fair value of certain assets and liabilities on a non-recurring basis. In particular, the fair value of all assets acquired and liabilities assumed in an acquisition of a business are determined at their respective acquisition date fair values. In addition, facts and circumstances may dictate a fair value measurement when there is evidence of impairment. Assets and liabilities measured on a non-recurring basis include the items discussed below. Impaired Loans incorporated significant unobservable inputs regarding default rates, loss severity rates assuming default, prepayment speeds on acquired loans accounted for in pools (“Pooled Loans”), and estimated collateral values. Estimates for these significant unobservable inputs and the resulting weighted average expected loss on PCI loans were as follows. PCI Loans PlainsCapital FNB SWS BORO December 31, 2019 Merger Transaction Merger Acquisition Weighted average default rate 83 % 30 % 66 % 59 % Weighted average loss severity rate 59 % 12 % 28 % 42 % Weighted average prepayment speed 0 % 5 % 0 % 0 % Resulting weighted average expected loss on PCI loans 49 % 4 % 18 % 25 % PCI Loans PlainsCapital FNB SWS BORO December 31, 2018 Merger Transaction Merger Acquisition Weighted average default rate 81 % 34 % 71 % 63 % Weighted average loss severity rate 59 % 12 % 28 % 42 % Weighted average prepayment speed 0 % 6 % 0 % 0 % Resulting weighted average expected loss on PCI loans 48 % 4 % 20 % 26 % The Company obtains updated appraisals of the fair value of collateral securing impaired collateral dependent loans at least annually, in accordance with regulatory guidelines. The Company also reviews the fair value of such collateral on a quarterly basis. If the quarterly review indicates that the fair value of the collateral may have deteriorated, the Company orders an updated appraisal of the fair value of the collateral. Because the Company obtains updated appraisals when evidence of a decline in the fair value of collateral exists, it typically does not adjust appraised values. Other Real Estate Owned The following table presents information regarding certain assets and liabilities measured at fair value on a non-recurring basis for which a change in fair value has been recorded during reporting periods subsequent to initial recognition (in thousands). Total Gains (Losses) for the Level 1 Level 2 Level 3 Total Year Ended December 31, December 31, 2019 Inputs Inputs Inputs Fair Value 2019 2018 2017 Impaired loans held for investment $ — $ — $ 65,582 $ 65,582 $ (4,968) $ 2,481 $ (2,402) Other real estate owned — 11,560 — 11,560 (1,387) (2,757) (4,436) The Fair Value of Financial Instruments Subsection of the ASC requires disclosure of the fair value of financial assets and liabilities, including the financial assets and liabilities previously discussed. The methods for determining estimated fair value for financial assets and liabilities measured at fair value on a recurring or non-recurring basis are discussed above. For other financial assets and liabilities, the Company utilizes quoted market prices, if available, to estimate the fair value of financial instruments. Because no quoted market prices exist for a significant portion of the Company’s financial instruments, the fair value of such instruments has been derived based on management’s assumptions with respect to future economic conditions, the amount and timing of future cash flows, and estimated discount rates. Different assumptions could significantly affect these estimates. Accordingly, the estimates provided herein do not necessarily indicate amounts which could be realized in a current transaction. Further, as it is management’s intent to hold a significant portion of its financial instruments to maturity, it is not probable that the fair values shown below will be realized in a current transaction. Because of the wide range of permissible valuation techniques and the numerous estimates which must be made, it may be difficult to make reasonable comparisons of the Company’s fair value information to that of other financial institutions. The aggregate estimated fair value amount should in no way be construed as representative of the underlying value of Hilltop and its subsidiaries. The following methods and assumptions are typically used in estimating the fair value disclosures for financial instruments: Cash and Cash Equivalents Assets Segregated for Regulatory Purposes Securities Purchased Under Agreements to Resell Held to Maturity Securities Loans Held for Sale Loans Held for Investment Broker-Dealer and Clearing Organization Receivables and Payables Deposits Short-Term Borrowings Debt Other Assets and Liabilities The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2019 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 485,353 $ 485,353 $ — $ — $ 485,353 Assets segregated for regulatory purposes 157,436 157,436 — — 157,436 Securities purchased under agreements to resell 59,031 — 59,031 — 59,031 Held to maturity securities 386,326 — 388,930 — 388,930 Loans held for sale 170,648 — 170,648 — 170,648 Loans held for investment, net 7,320,264 — 576,527 6,990,706 7,567,233 Broker-dealer and clearing organization receivables 1,780,280 — 1,780,280 — 1,780,280 Other assets 71,040 — 69,580 1,460 71,040 Financial liabilities: Deposits 9,032,214 — 9,032,496 — 9,032,496 Broker-dealer and clearing organization payables 1,605,518 — 1,605,518 — 1,605,518 Short-term borrowings 1,424,010 — 1,424,010 — 1,424,010 Debt 350,781 — 348,555 — 348,555 Other liabilities 8,473 — 8,473 — 8,473 Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2018 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 644,473 $ 644,473 $ — $ — $ 644,473 Assets segregated for regulatory purposes 133,993 133,993 — — 133,993 Securities purchased under agreements to resell 61,611 — 61,611 — 61,611 Held to maturity securities 351,012 — 341,124 — 341,124 Loans held for sale 135,471 — 135,471 — 135,471 Loans held for investment, net 6,870,972 — 578,363 6,445,810 7,024,173 Broker-dealer and clearing organization receivables 1,440,287 — 1,440,287 — 1,440,287 Other assets 69,720 — 68,573 1,147 69,720 Financial liabilities: Deposits 8,536,156 — 8,528,947 — 8,528,947 Broker-dealer and clearing organization payables 1,294,925 — 1,294,925 — 1,294,925 Short-term borrowings 1,065,807 — 1,065,807 — 1,065,807 Debt 295,884 — 293,685 — 293,685 Other liabilities 3,482 — 3,482 — 3,482 The Company held equity investments other than securities of $36.6 million and $35.8 million at December 31, 2019 and 2018, respectively, which are included within other assets in the consolidated balance sheets. Of the $36.6 million of such equity investments held at December 31, 2019, $19.8 million do not have readily determinable fair values and each is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The following table presents the adjustments to the carrying value of these investments (in thousands). Year Ended December 31, 2019 2018 Balance, beginning of year $ 20,376 $ 22,946 Additional investments — 8,643 Upward adjustments 403 3,663 Impairments and downward adjustments (1,008) (4,083) Dispositions — (10,793) Balance, end of year $ 19,771 $ 20,376

Securities

Securities	12 Months Ended
Securities	Dec. 31, 2019
Securities
Securities	4. Securities The fair value of trading securities are summarized as follows (in thousands). December 31, 2019 2018 U.S. Treasury securities $ — $ 7,945 U.S. government agencies: Bonds 24,680 1,494 Residential mortgage-backed securities 331,601 309,455 Commercial mortgage-backed securities 2,145 4,239 Collateralized mortgage obligations 191,154 206,813 Corporate debt securities 36,973 59,293 States and political subdivisions 93,117 126,748 Unit investment trusts 3,468 19,913 Private-label securitized product 2,992 5,680 Other 3,446 3,886 Totals $ 689,576 $ 745,466 In addition to the securities shown above, the Hilltop Broker-Dealers enter into transactions that represent commitments to purchase and deliver securities at prevailing future market prices to facilitate customer transactions and satisfy such commitments. Accordingly, the Hilltop Broker-Dealers’ ultimate obligation may exceed the amount recognized in the financial statements. These securities, which are carried at fair value and reported as securities sold, not yet purchased in the consolidated balance sheets, had a value of $43.8 million and $81.7 million at December 31, 2019 and 2018, respectively. The amortized cost and fair value of available for sale and held to maturity securities are summarized as follows (in thousands). Available for Sale Amortized Unrealized Unrealized December 31, 2019 Cost Gains Losses Fair Value U.S. Treasury securities $ 9,869 $ 190 $ (2) $ 10,057 U.S. government agencies: Bonds 84,590 1,049 (64) 85,575 Residential mortgage-backed securities 460,099 7,037 (147) 466,989 Commercial mortgage-backed securities 11,488 543 — 12,031 Collateralized mortgage obligations 333,328 3,179 (815) 335,692 Corporate debt securities 44,868 1,938 — 46,806 States and political subdivisions 39,969 1,273 — 41,242 Totals $ 984,211 $ 15,209 $ (1,028) $ 998,392 Available for Sale Amortized Unrealized Unrealized December 31, 2018 Cost Gains Losses Fair Value U.S. Treasury securities $ 11,552 $ 30 $ (44) $ 11,538 U.S. government agencies: Bonds 85,492 552 (433) 85,611 Residential mortgage-backed securities 391,428 608 (6,962) 385,074 Commercial mortgage-backed securities 11,703 189 (120) 11,772 Collateralized mortgage obligations 281,450 385 (5,436) 276,399 Corporate debt securities 53,614 268 (580) 53,302 States and political subdivisions 51,560 608 (206) 51,962 Totals $ 886,799 $ 2,640 $ (13,781) $ 875,658 Held to Maturity Amortized Unrealized Unrealized December 31, 2019 Cost Gains Losses Fair Value U.S. Treasury securities $ — $ — $ — $ — U.S. government agencies: Bonds 24,020 10 (35) 23,995 Residential mortgage-backed securities 17,776 295 — 18,071 Commercial mortgage-backed securities 161,624 2,810 (655) 163,779 Collateralized mortgage obligations 113,894 226 (904) 113,216 States and political subdivisions 69,012 1,013 (156) 69,869 Totals $ 386,326 $ 4,354 $ (1,750) $ 388,930 Held to Maturity Amortized Unrealized Unrealized December 31, 2018 Cost Gains Losses Fair Value U.S. Treasury securities $ 9,903 $ 3 $ — $ 9,906 U.S. government agencies: Bonds 39,018 — (1,479) 37,539 Residential mortgage-backed securities 21,903 — (263) 21,640 Commercial mortgage-backed securities 87,065 271 (1,462) 85,874 Collateralized mortgage obligations 142,474 — (5,000) 137,474 States and political subdivisions 50,649 91 (2,049) 48,691 Totals $ 351,012 $ 365 $ (10,253) $ 341,124 Additionally, the Company had unrealized net gains of $1.2 million and unrealized net losses of $0.9 million from equity securities with fair values of $20.0 million and $19.7 million held at December 31, 2019 and December 31, 2018, respectively. The Company recognized net gains of $1.9 million and net losses of $3.3 million during 2019 and 2018, respectively, due to changes in the fair value of equity securities still held at the balance sheet date. During 2019 and 2018, net gains recognized from equity securities sold were nominal. Information regarding available for sale, held to maturity and equity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). December 31, 2019 December 31, 2018 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Available for Sale U.S. treasury securities: Unrealized loss for less than twelve months 1 $ 1,897 $ 2 1 $ 981 $ 6 Unrealized loss for twelve months or longer — — — 3 3,556 39 1 1,897 2 4 4,537 45 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 2 24,937 64 3 24,772 5 Unrealized loss for twelve months or longer — — — 3 30,472 428 2 24,937 64 6 55,244 433 Residential mortgage-backed securities: Unrealized loss for less than twelve months 37 36,187 87 8 66,791 432 Unrealized loss for twelve months or longer 2 13,683 58 27 194,228 6,530 39 49,870 145 35 261,019 6,962 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 1 9,967 2 — — — Unrealized loss for twelve months or longer — — — 1 4,953 120 1 9,967 2 1 4,953 120 Collateralized mortgage obligations: Unrealized loss for less than twelve months 15 94,545 446 11 44,394 498 Unrealized loss for twelve months or longer 13 46,217 369 28 140,483 4,938 28 140,762 815 39 184,877 5,436 Corporate debt securities: Unrealized loss for less than twelve months — — — 8 16,256 282 Unrealized loss for twelve months or longer — — — 8 15,665 297 — — — 16 31,921 579 States and political subdivisions: Unrealized loss for less than twelve months — — — 29 8,590 27 Unrealized loss for twelve months or longer 1 487 — 18 9,029 179 1 487 — 47 17,619 206 Total available for sale: Unrealized loss for less than twelve months 56 167,533 601 60 161,784 1,250 Unrealized loss for twelve months or longer 16 60,387 427 88 398,386 12,531 72 $ 227,920 $ 1,028 148 $ 560,170 $ 13,781 December 31, 2019 December 31, 2018 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Held to Maturity U.S. government agencies: Bonds: Unrealized loss for less than twelve months 2 $ 9,665 $ 35 — $ — $ — Unrealized loss for twelve months or longer — — — 4 37,539 1,479 2 9,665 35 4 37,539 1,479 Residential mortgage-backed securities: Unrealized loss for less than twelve months — — — 1 8,411 89 Unrealized loss for twelve months or longer — — — 3 13,229 174 — — — 4 21,640 263 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 8 44,610 656 1 4,973 27 Unrealized loss for twelve months or longer — — — 13 59,670 1,435 8 44,610 656 14 64,643 1,462 Collateralized mortgage obligations: Unrealized loss for less than twelve months 4 23,904 287 1 2,051 26 Unrealized loss for twelve months or longer 8 59,560 617 24 135,423 4,974 12 83,464 904 25 137,474 5,000 States and political subdivisions: Unrealized loss for less than twelve months 38 15,996 124 9 6,431 56 Unrealized loss for twelve months or longer 4 1,099 31 86 32,909 1,993 42 17,095 155 95 39,340 2,049 Total held to maturity: Unrealized loss for less than twelve months 52 94,175 1,102 12 21,866 198 Unrealized loss for twelve months or longer 12 60,659 648 130 278,770 10,055 64 $ 154,834 $ 1,750 142 $ 300,636 $ 10,253 During 2019, 2018 and 2017, the Company did not record any OTTI. While some of the securities held in the investment portfolio have decreased in value since the date of acquisition, the severity of loss and the duration of the loss position are not significant enough to warrant OTTI of the securities. Factors considered in the Company’s analysis include the reasons for the unrealized loss position, the severity and duration of the unrealized loss position, credit worthiness, and forecasted performance of the investee. The Company does not intend, nor is it likely that the Company will be required to sell, these securities before the recovery of the cost basis. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. The amortized cost and fair value of securities, excluding trading and equity securities, at December 31, 2019 are shown by contractual maturity below (in thousands). Available for Sale Held to Maturity Amortized Amortized Cost Fair Value Cost Fair Value Due in one year or less $ 10,612 $ 10,660 $ — $ — Due after one year through five years 121,052 123,759 25,967 25,955 Due after five years through ten years 29,697 30,572 5,537 5,591 Due after ten years 17,935 18,689 61,528 62,318 179,296 183,680 93,032 93,864 Residential mortgage-backed securities 460,099 466,989 17,776 18,071 Collateralized mortgage obligations 333,328 335,692 113,894 113,216 Commercial mortgage-backed securities 11,488 12,031 161,624 163,779 $ 984,211 $ 998,392 $ 386,326 $ 388,930 During 2019, 2018 and 2017, the Company recognized net gains from its trading portfolio of $20.5 million, $6.2 million and $20.2 million, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $132.7 million, $41.9 million and $62.8 million during 2019, 2018 and 2017, respectively. During 2019, the Company had other realized losses on securities of $2.5 million, while other net realized gains on securities during 2018 and 2017 were nominal. All such net gains and losses are recorded as a component of other noninterest income within the consolidated statements of operations. Securities with a carrying amount of $576.0 million and $612.3 million (with a fair value of $583.6 million and $600.0 million, respectively) at December 31, 2019 and 2018, respectively, were pledged by the Bank to secure public and trust deposits, federal funds purchased and securities sold under agreements to repurchase, and for other purposes as required or permitted by law. Substantially all of these pledged securities were included in the Company’s available for sale and held to maturity securities portfolios at December 31, 2019 and 2018. Mortgage-backed securities and collateralized mortgage obligations consist principally of GNMA, Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”) pass-through and participation certificates. GNMA securities are guaranteed by the full faith and credit of the United States, while FNMA and FHLMC securities are fully guaranteed by those respective United States government-sponsored agencies, and conditionally guaranteed by the full faith and credit of the United States. At December 31, 2019 and 2018, NLC had investments on deposit in custody for various state insurance departments with carrying values of $9.3 million and $9.5 million, respectively.

Loans Held for Investment and A

Loans Held for Investment and Allowance for Loan Losses	12 Months Ended
Loans Held for Investment and Allowance for Loan Losses	Dec. 31, 2019
Loans Held for Investment and Allowance for Loan Losses
Loans Held for Investment and Allowance for Loan Losses	5. Loans Held for Investment and Allowance for Loan Losses The Bank originates loans to customers primarily in Texas. Although the Bank has diversified loan and leasing portfolios and, generally, holds collateral against amounts advanced to customers, its debtors’ ability to honor their contracts is substantially dependent upon the general economic conditions of the region and of the industries in which its debtors operate, which consist primarily of agribusiness, construction, energy, real estate and wholesale/retail trade. The Hilltop Broker-Dealers make loans to customers and correspondents through transactions originated by both employees and independent retail representatives throughout the United States. The Hilltop Broker-Dealers control risk by requiring customers to maintain collateral in compliance with various regulatory and internal guidelines, which may vary based upon market conditions. Securities owned by customers and held as collateral for loans are not included in the consolidated financial statements. As previously discussed, the loans acquired in the FNB Transaction were subject to loss-share agreements with the FDIC. On October 17, 2018, the Bank and the FDIC entered into a Termination Agreement pursuant to which all rights and obligations of the Bank and the FDIC under the FDIC loss-share agreements were resolved and terminated. Accordingly, loans which were previously referred to as either “covered loans” if covered by the loss-share agreements or otherwise “non-covered loans” are now collectively referred to as “loans held for investment.” Loans that were previously covered by the FDIC loss-share agreements are included in the “covered” portfolio segment. The majority of the loans previously covered by the FDIC loss-share agreements are comprised primarily of commercial real estate and 1-4 family residential loans. Loans held for investment summarized by portfolio segment are as follows (in thousands). December 31, 2019 2018 Commercial real estate $ 3,000,523 $ 2,940,120 Commercial and industrial 2,025,720 1,752,257 Construction and land development 940,564 932,909 1-4 family residential 791,020 679,263 Consumer 47,046 47,546 Broker-dealer (1) 576,527 578,363 7,381,400 6,930,458 Allowance for loan losses (61,136) (59,486) Total loans held for investment, net of allowance $ 7,320,264 $ 6,870,972 (1) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations. The Bank has lending policies in place with the goal of establishing an asset portfolio that will provide a return on stockholders’ equity sufficient to maintain capital to assets ratios that meet or exceed established regulations. Loans are underwritten with careful consideration of the borrower’s financial condition, the specific purpose of the loan, the primary sources of repayment and any collateral pledged to secure the loan. Underwriting procedures address financial components based on the size and complexity of the credit. The financial components include, but are not limited to, current and projected cash flows, shock analysis and/or stress testing, and trends in appropriate balance sheet and statement of operations ratios. The Bank’s loan policy provides specific underwriting guidelines by portfolio segment, including commercial and industrial, real estate, construction and land development, and consumer loans. The guidelines for each individual portfolio segment set forth permissible and impermissible loan types. With respect to each loan type, the guidelines within the Bank’s loan policy provide minimum requirements for the underwriting factors listed above. The Bank’s underwriting procedures also include an analysis of any collateral and guarantor. Collateral analysis includes a complete description of the collateral, as well as determined values, monitoring requirements, loan to value ratios, concentration risk, appraisal requirements and other information relevant to the collateral being pledged. Guarantor analysis includes liquidity and cash flow evaluation based on the significance with which the guarantors are expected to serve as secondary repayment sources. The Bank maintains a loan review department that reviews credit risk in response to both external and internal factors that potentially impact the performance of either individual loans or the overall loan portfolio. The loan review process reviews the creditworthiness of borrowers and determines compliance with the loan policy. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel. Results of these reviews are presented to management and the Bank’s board of directors. In connection with the Bank Transactions, the Company acquired loans both with and without evidence of credit quality deterioration since origination. The following table presents the carrying amounts and the outstanding balances of PCI loans (in thousands). December 31, 2019 2018 Carrying amount $ 82,331 $ 93,072 Outstanding balance 141,615 172,808 Changes in the accretable yield for PCI loans were as follows (in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 80,693 $ 98,846 $ 156,847 Additions — 340 — Reclassifications from nonaccretable difference, net (1) 18,353 26,166 12,946 Disposals of loans (1,168) (1,226) (1,663) Accretion (31,875) (43,433) (69,284) Transfer of loans to OREO (2) — — — Balance, end of year $ 66,003 $ 80,693 $ 98,846 (1) Reclassifications from nonaccretable difference are primarily due to net increases in expected cash flows in the quarterly recasts. Reclassifications to nonaccretable difference occur when accruing loans are moved to non-accrual and expected cash flows are no longer predictable and the accretable yield is eliminated. (2) Transfer of loans to OREO is the difference between the value removed from the pool and the expected cash flows for the loan. The remaining nonaccretable difference for PCI loans was $49.5 million and $64.2 million at December 31, 2019 and 2018, respectively. During 2019, 2018 and 2017, a combination of factors affecting the inputs to the Bank’s quarterly recast process led to the reclassifications from nonaccretable difference to accretable yield. These transfers resulted from revised cash flows that reflect better-than-expected performance of the PCI loan portfolio acquired in the FNB Transaction as a result of the Bank’s strategic decision to dedicate resources to the liquidation of those loans acquired in the FNB Transaction during the noted periods. Impaired loans exhibit a clear indication that the borrower’s cash flow may not be sufficient to meet principal and interest payments, which is generally when a loan is 90 days past due unless the asset is both well secured and in the process of collection. Impaired loans include non-accrual loans, troubled debt restructurings (“TDRs”), PCI loans and partially charged-off loans. The amounts shown in following tables include loans accounted for on an individual basis, as well as acquired Pooled Loans. For Pooled Loans, the recorded investment with allowance and the related allowance consider impairment measured at the pool level. Impaired loans, segregated between those considered to be PCI loans and those without credit impairment at acquisition, are summarized by portfolio segment in the following tables (in thousands). Unpaid Recorded Recorded Total Contractual Investment with Investment with Recorded Related December 31, 2019 Principal Balance No Allowance Allowance Investment Allowance PCI Commercial real estate: Non-owner occupied $ 28,541 $ 4,254 $ 8,592 $ 12,846 $ 2,659 Owner occupied 27,020 2,816 9,920 12,736 1,235 Commercial and industrial 23,281 4,131 1,129 5,260 70 Construction and land development 7,327 1 76 77 27 1-4 family residential 89,800 381 51,031 51,412 3,179 Consumer 1,695 — — — — Broker-dealer — — — — — 177,664 11,583 70,748 82,331 7,170 Non-PCI Commercial real estate: Non-owner occupied 3,895 2,790 — 2,790 — Owner occupied 4,706 3,495 — 3,495 — Commercial and industrial 27,168 10,714 2,986 13,700 1,442 Construction and land development 1,483 1,316 — 1,316 — 1-4 family residential 10,320 7,343 — 7,343 — Consumer 38 26 — 26 — Broker-dealer — — — — — 47,610 25,684 2,986 28,670 1,442 $ 225,274 $ 37,267 $ 73,734 $ 111,001 $ 8,612 Unpaid Recorded Recorded Total Contractual Investment with Investment with Recorded Related December 31, 2018 Principal Balance No Allowance Allowance Investment Allowance PCI Commercial real estate: Non-owner occupied $ 42,668 $ 5,549 $ 7,540 $ 13,089 $ 1,125 Owner occupied 36,246 11,657 2,967 14,624 304 Commercial and industrial 27,403 5,491 1,068 6,559 72 Construction and land development 10,992 74 390 464 92 1-4 family residential 106,503 646 57,681 58,327 1,299 Consumer 2,185 9 — 9 — Broker-dealer — — — — — 225,997 23,426 69,646 93,072 2,892 Non-PCI Commercial real estate: Non-owner occupied — — — — — Owner occupied 5,231 4,098 — 4,098 — Commercial and industrial 22,277 9,891 1,740 11,631 721 Construction and land development 3,430 2,711 535 3,246 31 1-4 family residential 8,695 6,922 — 6,922 — Consumer 149 42 — 42 — Broker-dealer — — — — — 39,782 23,664 2,275 25,939 752 $ 265,779 $ 47,090 $ 71,921 $ 119,011 $ 3,644 Average investment in impaired loans is summarized by portfolio segment in the following table (in thousands). Year Ended December 31, 2019 2018 2017 Commercial real estate: Non-owner occupied $ 14,363 $ 14,533 $ 16,623 Owner occupied 17,477 21,262 25,307 Commercial and industrial 18,575 21,143 19,189 Construction and land development 2,552 2,880 3,136 1-4 family residential 62,002 35,404 5,797 Consumer 39 117 361 Broker-dealer — — — Covered — 46,248 115,085 $ 115,008 $ 141,587 $ 185,498 Non-accrual loans, excluding those classified as held for sale, are summarized by portfolio segment in the following table (in thousands). December 31, 2019 2018 Commercial real estate: Non-owner occupied $ 3,813 $ 1,226 Owner occupied 3,495 4,098 Commercial and industrial 15,262 14,870 Construction and land development 1,316 3,278 1-4 family residential 7,382 7,026 Consumer 26 41 Broker-dealer — — $ 31,294 $ 30,539 At December 31, 2019 and 2018, non-accrual loans included PCI loans of $3.8 million and $4.9 million, respectively, for which discount accretion has been suspended because the extent and timing of cash flows from these PCI loans can no longer be reasonably estimated. In addition to the non-accrual loans in the table above, $4.8 million and $3.4 million of real estate loans secured by residential properties and classified as held for sale were in non-accrual status at December 31, 2019 and 2018, respectively. Interest income, including recoveries and cash payments, recorded on impaired loans was $1.6 million, $1.4 million and $1.7 million during 2019, 2018 and 2017, respectively. Except as noted above, PCI loans are considered to be performing due to the application of the accretion method. The Bank classifies loan modifications as TDRs when it concludes that it has both granted a concession to a debtor and that the debtor is experiencing financial difficulties. Loan modifications are typically structured to create affordable payments for the debtor and can be achieved in a variety of ways. The Bank modifies loans by reducing interest rates and/or lengthening loan amortization schedules. The Bank may also reconfigure a single loan into two or more loans (“A/B Note”). The typical A/B Note restructure results in a “bad” loan which is charged off and a “good” loan or loans, the terms of which comply with the Bank’s customary underwriting policies. The debt charged off on the “bad” loan is not forgiven to the debtor. There were no TDRs granted during 2018. Information regarding TDRs granted during 2019 and 2017 is shown in the following table (dollars in thousands). At December 31, 2019 and 2018, the Bank had nominal unadvanced commitments to borrowers whose loans have been restructured in TDRs. Year Ended December 31, 2019 Year Ended December 31, 2017 Number of Balance at Balance at Number of Balance at Balance at Loans Extension End of Period Loans Extension End of Period Commercial real estate: Non-owner occupied — $ — $ — — $ — $ — Owner occupied — — — 2 4,775 4,629 Commercial and industrial 4 9,618 8,566 1 1,357 1,186 Construction and land development — — — 1 655 611 1-4 family residential — — — — — — Consumer — — — — — — Broker-dealer — — — — — — Covered — — — — — — 4 $ 9,618 $ 8,566 4 $ 6,787 $ 6,426 All of the loan modifications included in the table above involved payment term extensions. The Bank did not grant principal reductions on any restructured loans during 2019, 2018 or 2017. There were no TDRs granted during the twelve months preceding December 31, 2019 or 2018 for which a payment was at least 30 days past due. The following table presents information regarding TDRs granted during the twelve months preceding December 31, 2017, for which a payment was at least 30 days past due (dollars in thousands). Twelve Months Preceding December 31, 2017 Number of Balance at Balance at Loans Extension End of Period Commercial real estate: Non-owner occupied — $ — $ — Owner occupied 1 1,481 1,352 Commercial and industrial — — — Construction and land development 1 655 611 1-4 family residential — — — Consumer — — — Broker-dealer — — — Covered — — — 2 $ 2,136 $ 1,963 An analysis of the aging of the Company’s loan portfolio is shown in the following tables (in thousands). Accruing Loans Loans Past Due Loans Past Due Loans Past Due Total Current PCI Total Past Due December 31, 2019 30-59 Days 60-89 Days 90 Days or More Past Due Loans Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 1,769 $ — $ 2,790 $ 4,559 $ 1,691,947 $ 12,846 $ 1,709,352 $ — Owner occupied 1,741 125 2,432 4,298 1,274,137 12,736 1,291,171 — Commercial and industrial 5,672 1,735 3,192 10,599 2,009,861 5,260 2,025,720 3 Construction and land development 7,580 1,827 — 9,407 931,080 77 940,564 — 1-4 family residential 6,281 1,461 2,739 10,481 729,127 51,412 791,020 — Consumer 455 34 — 489 46,557 — 47,046 — Broker-dealer — — — — 576,527 — 576,527 — $ 23,498 $ 5,182 $ 11,153 $ 39,833 $ 7,259,236 $ 82,331 $ 7,381,400 $ 3 Accruing Loans Loans Past Due Loans Past Due Loans Past Due Total Current PCI Total Past Due December 31, 2018 30-59 Days 60-89 Days 90 Days or More Past Due Loans Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 1,174 $ 199 $ — $ 1,373 $ 1,708,160 $ 13,089 $ 1,722,622 $ — Owner occupied 1,364 — 4,173 5,537 1,197,337 14,624 1,217,498 75 Commercial and industrial 1,792 1,049 11,051 13,892 1,731,806 6,559 1,752,257 3 Construction and land development 3,549 — — 3,549 928,896 464 932,909 — 1-4 family residential 5,987 2,484 1,950 10,421 610,515 58,327 679,263 — Consumer 254 147 — 401 47,136 9 47,546 — Broker-dealer — — — — 578,363 — 578,363 — $ 14,120 $ 3,879 $ 17,174 $ 35,173 $ 6,802,213 $ 93,072 $ 6,930,458 $ 78 In addition to the loans shown in the table above, PrimeLending had $102.7 million and $83.1 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $104.0 million and $84.0 million, respectively) that were 90 days past due and accruing interest at December 31, 2019 and 2018, respectively. These loans are guaranteed by U.S. government agencies and include loans that are subject to repurchase, or have been repurchased, by PrimeLending. Management tracks credit quality trends on a quarterly basis related to: (i) past due levels, (ii) non-performing asset levels, (iii) classified loan levels, (iv) net charge-offs, and (v) general economic conditions in state and local markets. The Company utilizes a risk grading matrix to assign a risk grade to each of the loans in its portfolio with the exception of broker-dealer loans. A risk rating is assigned based on an assessment of the borrower’s management, collateral position, financial capacity, and economic factors. The general characteristics of the various risk grades are described below. Pass — Special Mention — Substandard — PCI — The following tables present the internal risk grades of loans, as previously described, in the portfolio by class (in thousands). December 31, 2019 Pass Special Mention Substandard PCI Total Commercial real estate: Non-owner occupied $ 1,638,682 $ — $ 57,824 $ 12,846 $ 1,709,352 Owner occupied 1,238,855 810 38,770 12,736 1,291,171 Commercial and industrial 1,917,450 15,973 87,037 5,260 2,025,720 Construction and land development 937,967 — 2,520 77 940,564 1-4 family residential 722,657 — 16,951 51,412 791,020 Consumer 46,758 — 288 — 47,046 Broker-dealer 576,527 — — — 576,527 $ 7,078,896 $ 16,783 $ 203,390 $ 82,331 $ 7,381,400 December 31, 2018 Pass Special Mention Substandard PCI Total Commercial real estate: Non-owner occupied $ 1,673,424 $ — $ 36,109 $ 13,089 $ 1,722,622 Owner occupied 1,175,225 2,083 25,566 14,624 1,217,498 Commercial and industrial 1,677,033 15,320 53,345 6,559 1,752,257 Construction and land development 929,130 — 3,315 464 932,909 1-4 family residential 601,264 393 19,279 58,327 679,263 Consumer 47,416 — 121 9 47,546 Broker-dealer 578,363 — — — 578,363 $ 6,681,855 $ 17,796 $ 137,735 $ 93,072 $ 6,930,458 Allowance for Loan Losses It is management’s responsibility to, at the end of each quarter, or more frequently as deemed necessary, analyze the level of the allowance for loan losses to ensure that it is appropriate for the estimated credit losses in the portfolio. Estimated credit losses are the probable current amount of loans that the Company will be unable to collect given facts and circumstances as of the evaluation date. When management determines that a loan, or portion thereof is uncollectible, the loan, or portion thereof, is charged-off against the allowance for loan losses, or for acquired loans accounted for in pools, charged against either the pool discount or the post-acquisition allowance. Recoveries on charge-offs of loans acquired in the Bank Transactions that occurred prior to their acquisition represent contractual cash flows not expected to be collected and are recorded as accretion income. Recoveries on acquired loans charged-off subsequent to their acquisition are credited to the allowance for loan loss, except for recoveries on loans accounted for in pools, which are credited to the pool discount. The Company has developed a methodology that seeks to determine an allowance within the scope of the Receivables and Contingencies Topics of the ASC. Each of the loans that has been determined to be impaired is within the scope of the Receivables Topic. Impaired loans that are equal to or greater than $0.5 million are individually evaluated using one of three impairment measurement methods as of the evaluation date: (1) the present value of expected future cash flows discounted at the loan’s effective rate, (2) the loan’s observable market price, or (3) the fair value of the collateral if the loan is collateral dependent. Specific reserves are provided in the estimate of the allowance based on the measurement of impairment under these three methods, except for collateral dependent loans, which require the fair value method. All non-impaired loans are within the scope of the Contingencies Topic. Estimates of loss for the Contingencies Topic are calculated based on historical loss, adjusted for qualitative or environmental factors. The Bank uses a rolling three year average net loss rate to calculate historical loss factors. The analysis is conducted by call report loan category, and further disaggregates commercial and industrial loans by collateral type. The analysis uses net charge-off experience by considering charge-offs and recoveries in determining the loss rate. The historical loss calculation for the quarter is calculated by dividing the current quarter net charge-offs for each loan category by the quarter ended loan category balance. The Bank utilizes a weighted average loss rate to better represent recent trends. While historical loss experience provides a reasonable starting point for the analysis, historical losses are not the sole basis upon which the Company determines the appropriate level for the allowance for loan losses. Management considers recent qualitative or environmental factors that are likely to cause estimated credit losses associated with the existing portfolio to differ from historical loss experience, including but not limited to: ● the loss emergence period is applied to both the general allowance and adjustments for qualitative risk factors, which represents the average amount of time between when loss events occur for specific loan types and when such problem loans are identified and the related loss amounts are confirmed through charge-offs; ● changes in the volume and severity of past due, non-accrual and classified loans; ● ● ● ● ● ● Changes in the volume and severity of past due, non-accrual and classified loans, as well as changes in the nature, volume and terms of loans in the portfolio are key indicators of changes that could indicate a necessary adjustment to the historical loss factors. Classified loans are defined as loans having a well-defined weakness or weaknesses related to the borrower's financial capacity or to pledged collateral that may jeopardize the repayment of the debt. They are characterized by the possibility that the Bank may sustain some loss if the deficiencies giving rise to the substandard classification are not corrected. The magnitude of the impact of these factors on the qualitative assessment of the allowance for loan loss changes from quarter to quarter. Periodically, management conducts an analysis to estimate the loss emergence period for each loan portfolio segment based on historical charge-offs, loan type and loan payment history and considers available industry peer bank data. Model output by loan category is reviewed to evaluate the reasonableness of the reserve levels in comparison to the estimated loss emergence period applied to historical loss experience. The loan review program is designed to identify and monitor problem loans by maintaining a credit grading process, requiring that timely and appropriate changes be made to reviewed loans and coordinating the delivery of the information necessary to assess the appropriateness of the allowance for loan losses. Loans are evaluated for impaired status when: (i) payments on the loan are delayed, typically by 90 days or more (unless the loan is both well secured and in the process of collection), (ii) the loan becomes classified, (iii) the loan is being reviewed in the normal course of the loan review scope, or (iv) the loan is identified by the servicing officer as a problem. In connection with the Bank Transactions, the Bank acquired loans both with and without evidence of credit quality deterioration since origination. PCI loans are accounted for in pools as well as on an individual loan basis. Cash flows expected to be collected are recast quarterly for each loan or pool. These evaluations require the continued use and updating of key assumptions and estimates such as default rates, loss severity given default and prepayment speed assumptions (similar to those used for the initial fair value estimate). Management judgment must be applied in developing these assumptions. If expected cash flows for a loan or pool decreases, an increase in the allowance for loan losses is made through a charge to the provision for loan losses. If expected cash flows for a loan or pool increase, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield. This increase in accretable yield is taken into income over the remaining life of the loan. Loans without evidence of credit impairment at acquisition are subsequently evaluated for any required allowance at each reporting date. An allowance for loan losses is calculated using a methodology similar to that described above for originated loans. The allowance as determined for each loan collateral type is compared to the remaining fair value discount for that loan collateral type. If greater, the excess is recognized as an addition to the allowance through a provision for loan losses. If less than the discount, no additional allowance is recorded. Charge-offs and losses first reduce any remaining fair value discount for the loan and once the discount is depleted, losses are applied against the allowance established for that loan. The allowance for loan losses is subject to regulatory examinations and determinations as to adequacy, which may take into account such factors as the methodology used to calculate the allowance and the size of the allowance. While the Company believes it has an appropriate allowance for the existing loan portfolio at December 31, 2019, additional provisions for losses on existing loans may be necessary in the future. Changes in the allowance for loan losses, distributed by portfolio segment, are shown below (in thousands). Balance, Provision (Recovery) Loans Recoveries on Balance, Year Ended December 31, 2019 Beginning of Year for Loan Losses Charged Off Charged Off Loans End of Year Commercial real estate $ 27,100 $ 5,649 $ (1,160) $ 6 $ 31,595 Commercial and industrial 21,980 (921) (5,924) 2,829 17,964 Construction and land development 6,061 (1,183) — — 4,878 1-4 family residential 3,956 3,276 (907) 61 6,386 Consumer 267 459 (498) 37 265 Broker-dealer 122 (74) — — 48 Total $ 59,486 $ 7,206 $ (8,489) $ 2,933 $ 61,136 Balance, Provision (Recovery) Loans Recoveries on Balance, Year Ended December 31, 2018 Beginning of Year for Loan Losses Charged Off Charged Off Loans End of Year Commercial real estate $ 27,232 $ 668 $ (800) $ — $ 27,100 Commercial and industrial 23,698 6,750 (12,741) 4,273 21,980 Construction and land development 7,847 (1,792) — 6 6,061 1-4 family residential 4,245 (292) (143) 146 3,956 Consumer 311 (15) (93) 64 267 Broker-dealer 353 (231) — — 122 Covered — — — — — Total $ 63,686 $ 5,088 $ (13,777) $ 4,489 $ 59,486 Balance, Provision (Recovery) Loans Recoveries on Balance, Year Ended December 31, 2017 Beginning of Year for Loan Losses Charged Off Charged Off Loans End of Year Commercial real estate $ 22,262 $ 4,320 $ (193) $ 24 $ 26,413 Commercial and industrial 21,369 6,725 (6,253) 1,833 23,674 Construction and land development 7,002 848 (13) 7 7,844 1-4 family residential 2,974 (701) (112) 201 2,362 Consumer 424 16 (208) 79 311 Broker-dealer 155 198 — — 353 Covered 413 2,865 (571) 22 2,729 Total $ 54,599 $ 14,271 $ (7,350) $ 2,166 $ 63,686 The loan portfolio was distributed by portfolio segment and impairment methodology as shown below (in thousands). Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2019 Impairment Impairment Loans Total Commercial real estate $ 5,698 $ 2,969,243 $ 25,582 $ 3,000,523 Commercial and industrial 12,889 2,007,571 5,260 2,025,720 Construction and land development 1,237 939,250 77 940,564 1-4 family residential 608 739,000 51,412 791,020 Consumer — 47,046 — 47,046 Broker-dealer — 576,527 — 576,527 Total $ 20,432 $ 7,278,637 $ 82,331 $ 7,381,400 Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2018 Impairment Impairment Loans Total Commercial real estate $ 3,909 $ 2,908,498 $ 27,713 $ 2,940,120 Commercial and industrial 10,741 1,734,957 6,559 1,752,257 Construction and land development 3,241 929,204 464 932,909 1-4 family residential — 620,936 58,327 679,263 Consumer — 47,537 9 47,546 Broker-dealer — 578,363 — 578,363 Total $ 17,891 $ 6,819,495 $ 93,072 $ 6,930,458 The allowance for loan losses was distributed by portfolio segment and impairment methodology as shown below (in thousands). Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2019 Impairment Impairment Loans Total Commercial real estate $ — $ 27,701 $ 3,894 $ 31,595 Commercial and industrial 1,442 16,452 70 17,964 Construction and land development — 4,851 27 4,878 1-4 family residential — 3,207 3,179 6,386 Consumer — 265 — 265 Broker-dealer — 48 — 48 Total $ 1,442 $ 52,524 $ 7,170 $ 61,136 Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2018 Impairment Impairment Loans Total Commercial real estate $ — $ 25,671 $ 1,429 $ 27,100 Commercial and industrial 721 21,187 72 21,980 Construction and land development 31 5,938 92 6,061 1-4 family residential — 2,657 1,299 3,956 Consumer — 267 — 267 Broker-dealer — 122 — 122 Total $ 752 $ 55,842 $ 2,892 $ 59,486

Covered Assets and Indemnificat

Covered Assets and Indemnification Asset	12 Months Ended
Covered Assets and Indemnification Asset	Dec. 31, 2019
Covered Assets and Indemnification Asset
Covered Assets and Indemnification Asset	6. Covered Assets and Indemnification Asset The Bank acquired certain assets and assumed certain liabilities of FNB in connection with an FDIC-assisted transaction on September 13, 2013 (the “Bank Closing Date”). As part of the Purchase and Assumption Agreement (the “P&A Agreement”) by and among the FDIC (as receiver of FNB), the Bank and the FDIC, the Bank and the FDIC entered into loss-share agreements covering future losses incurred on certain acquired loans and OREO. The Company referred to acquired commercial and single family residential loan portfolios and OREO that were subject to the loss-share agreements as “covered loans” and “covered OREO”, respectively, and these assets were presented as separate line items in the Company’s consolidated balance sheets. Collectively, covered loans and covered OREO were referred to as “covered assets”. Pursuant to the loss-share agreements, the FDIC agreed to reimburse the Bank the following amounts with respect to the covered assets: (i) 80% of net losses on the first $240.4 million of net losses incurred; (ii) 0% of net losses in excess of $240.4 million up to and including $365.7 million of net losses incurred; and (iii) 80% of net losses in excess of $365.7 million of net losses incurred. Net losses were defined as book value losses plus certain defined expenses incurred in the resolution of assets, less subsequent recoveries. Under the loss-share agreement for commercial assets, the amount of subsequent recoveries that were reimbursable to the FDIC for a particular asset was limited to book value losses and expenses actually billed plus any book value charge-offs incurred prior to the Bank Closing Date. There was no limit on the amount of subsequent recoveries reimbursable to the FDIC under the loss-share agreement for single family residential assets. The loss-share agreements for commercial and single family residential assets were in effect for five years and ten years, respectively, from the Bank Closing Date, and the loss recovery provisions to the FDIC were in effect for eight years and ten years, respectively, from the Bank Closing Date. The asset arising from the loss-share agreements, referred to as the “FDIC Indemnification Asset,” was measured separately from the covered loan portfolio because the agreements were not contractually embedded in the covered loans and were not transferable if the Bank chose to dispose of the covered loans. In accordance with the loss-share agreements, the Bank may have been required to make a “true-up” payment to the FDIC approximately ten years following the Bank Closing Date if its actual net realized losses over the life of the loss-share agreements were less than the FDIC’s initial estimate of losses on covered assets. The “true-up” payment was calculated using a defined formula set forth in the P&A Agreement. On October 17, 2018, the Bank and the FDIC entered into a Termination Agreement pursuant to which the loss-share agreements for single family residential assets and commercial assets were terminated in exchange for the payment by the FDIC to the Bank of $6.26 million. Accordingly, loans which were previously referred to as either “covered loans” if covered by the loss-share agreements or otherwise “non-covered loans” are now collectively referred to as “loans held for investment.” Covered Other Real Estate Owned A summary of the activity in OREO previously covered by the FDIC loss-share agreements is as follows (in thousands) (1) Year Ended December 31, 2018 2017 Balance, beginning of year $ 36,744 $ 51,642 Additions to covered OREO 5,284 6,700 Dispositions of covered OREO (10,145) (17,866) Valuation adjustments in the period (2,027) (3,732) Transfer to other assets as a result of loss-share termination (29,856) — Balance, end of year $ — $ 36,744 (1) The additions, dispositions and valuation adjustments during 2018 as presented in the table represent activity from January 1, 2018 through September 30, 2018, prior to the expiration and termination of the FDIC loss-share agreements. All previously “covered” OREO is included in other assets as of December 31, 2018. During 2018 and 2017, the Bank wrote down certain covered OREO assets to fair value to reflect new appraisals on certain OREO acquired in the FNB Transaction and OREO acquired from the foreclosure on certain FNB loans acquired in the FNB Transaction. Although the Bank recorded a fair value discount on the acquired assets upon acquisition, in some cases additional downward valuations were required. The downward valuations recorded during the periods presented above were related to covered assets subject to the loss-share agreements with the FDIC. These additional downward valuation adjustments reflect changes to the assumptions regarding the fair value of the OREO, including in some cases the intended use of the OREO, due to the availability of more information as well as the passage of time. The process of determining fair value is subjective in nature and requires the use of significant estimates and assumptions. Although the Bank makes market-based assumptions when valuing acquired assets, new information may come to light that causes estimates to increase or decrease. When the Bank determines, based on subsequent information, that its estimates require adjustment, the Bank records the adjustment. The accounting for such adjustments requires that the decreases to fair value be recorded at the time such new information is received. Any increases to fair value up to the amount of cumulative losses previously recognized are recorded as gains when the asset is subsequently sold. As previously discussed, upon termination of the loss-share agreements, OREO acquired in the FNB Transaction which was previously identified as “covered” is now included in other assets within the consolidated balance sheets. FDIC Indemnification Asset A summary of the activity in the FDIC Indemnification Asset is as follows (in thousands). Year Ended December 31, 2018 2017 Balance, beginning of year $ 29,340 $ 71,313 FDIC Indemnification Asset accretion (amortization) (6,509) (17,083) Transfers to due from FDIC and other — (24,890) FDIC loss-share termination (22,831) — Balance, end of year $ — $ 29,340 In October 2018, in conjunction with the receipt of the $6.26 million payment associated with the termination of the FDIC loss-share agreements, the then-remaining FDIC Indemnification Asset of $22.8 million and the FDIC true-up accrual of $16.6 million were removed with no further impact to the Company’s consolidated statements of operations.

Cash and Due from Banks

Cash and Due from Banks	12 Months Ended
Cash and Due from Banks	Dec. 31, 2019
Cash and Due from Banks
Cash and Due from Banks	7. Cash and Due from Banks Cash and due from banks consisted of the following (in thousands). December 31, 2019 2018 Cash on hand $ 39,590 $ 47,621 Clearings and collection items 129,055 83,949 Deposits at Federal Reserve Bank 232,019 425,770 Deposits at Federal Home Loan Bank 1,458 1,595 Deposits in FDIC-insured institutions 82,837 85,138 $ 484,959 $ 644,073

Premises and Equipment

Premises and Equipment	12 Months Ended
Premises and Equipment	Dec. 31, 2019
Premises and Equipment
Premises and Equipment	8. Premises and Equipment The components of premises and equipment are summarized as follows (in thousands). December 31, 2019 2018 Land and premises $ 130,312 $ 147,783 Furniture and equipment 285,617 259,082 415,929 406,865 Less accumulated depreciation and amortization (195,947) (169,492) $ 219,982 $ 237,373 The amounts shown above include gross assets recorded under capital leases of $7.8 million and $7.8 million, with accumulated amortization of $4.2 million and $3.6 million at December 31, 2019 and 2018, respectively. Occupancy expense was reduced by rental income of $2.7 million, $1.4 million and $1.8 million during 2019, 2018 and 2017, respectively. Depreciation and amortization expense on premises and equipment, which includes amortization of capital leases, amounted to $29.6 million, $33.1 million and $34.6 million during 2019, 2018 and 2017, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Dec. 31, 2019
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	9. Goodwill and Other Intangible Assets At December 31, 2019, the carrying amount of goodwill of $291.4 million was comprised of $39.6 million recorded in connection with the BORO Acquisition, $24.0 million recorded in connection with the acquisition of NLC and $227.8 million recorded in connection with the PlainsCapital Merger. Other intangible assets of $30.2 million and $38.0 million at December 31, 2019 and 2018, respectively, include an indefinite lived intangible asset with an estimated fair value of $3.0 million related to state licenses acquired as a part of the NLC acquisition in January 2007. The Company performed required annual impairment tests of its goodwill and other intangible assets having an indefinite useful life as of October 1 st for each of its reporting units. At October 1, 2019, the Company determined that the estimated fair value of each of its reporting units exceeded its carrying value. The Company estimated the fair values of its reporting units based on both a market and income approach using historical, normalized actual and forecasted results. Based on this evaluation, at December 31, 2019, the Company concluded that the goodwill and other identifiable intangible assets were fully realizable. The Company’s evaluation includes multiple assumptions, including estimated discounted cash flows and other estimates that may change over time. If future discounted cash flows become less than those projected by the Company, future impairment charges may become necessary that could have a materially adverse impact on the Company’s results of operations and financial condition. As quoted market prices in active stock markets are relevant evidence of fair value, a significant decline in the Company’s common stock trading price may indicate an impairment of goodwill. The carrying value of intangible assets subject to amortization was as follows (in thousands). Estimated Gross Net Useful Life Intangible Accumulated Intangible December 31, 2019 (Years) Assets Amortization Assets Core deposits 4 - 12 $ 48,930 $ (36,576) $ 12,354 Trademarks and trade names 15 - 20 20,000 (9,825) 10,175 Noncompete agreements 4 - 6 4,310 (4,310) — Customer contracts and relationships 12 - 14 21,400 (16,776) 4,624 Agent relationships 13 3,600 (3,598) 2 $ 98,240 $ (71,085) $ 27,155 Estimated Gross Net Useful Life Intangible Accumulated Intangible December 31, 2018 (Years) Assets Amortization Assets Core deposits 4 - 12 $ 48,930 $ (31,062) $ 17,868 Trademarks and trade names 15 - 20 20,000 (8,844) 11,156 Noncompete agreements 4 - 6 11,650 (11,650) — Customer contracts and relationships 12 - 14 21,400 (15,465) 5,935 Agent relationships 13 3,600 (3,554) 46 $ 105,580 $ (70,575) $ 35,005 Amortization expense related to intangible assets during 2019, 2018 and 2017 was $7.8 The estimated aggregate future amortization expense for intangible assets at December 31, 2019 is as follows (in thousands). 2020 $ 6,538 2021 5,313 2022 3,987 2023 2,860 2024 1,825 Thereafter 6,632 $ 27,155

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
Mortgage Servicing Rights	Dec. 31, 2019
Mortgage Servicing Rights
Mortgage Servicing Rights	10. Mortgage Servicing Rights The following tables present the changes in fair value of the Company’s MSR asset, as included in other assets within the consolidated balance sheets, and other information related to the serviced portfolio (dollars in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 66,102 $ 54,714 $ 61,968 Additions 13,755 25,028 16,401 Sales — (9,303) (17,499) Changes in fair value: Due to changes in model inputs or assumptions (1) (16,054) 159 (1,722) Due to customer payoffs (8,299) (4,496) (4,434) Balance, end of year $ 55,504 $ 66,102 $ 54,714 December 31, 2019 2018 Mortgage loans serviced for others $ 4,948,441 $ 5,086,461 MSR asset as a percentage of serviced mortgage loans 1.12 % 1.30 % (1) Primarily represents normal customer payments, changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates and the refinement of other MSR model assumptions. The key assumptions used in measuring the fair value of the Company’s MSR asset were as follows. December 31, 2019 2018 Weighted average constant prepayment rate 13.16 % 10.51 % Weighted average discount rate 11.14 % 11.11 % Weighted average life (in years) 6.0 7.1 A sensitivity analysis of the fair value of the Company’s MSR asset to certain key assumptions is presented in the following table (in thousands). December 31, 2019 2018 Constant prepayment rate: Impact of 10% adverse change $ (3,072) $ (2,512) Impact of 20% adverse change (5,943) (4,980) Discount rate: Impact of 10% adverse change (2,094) (2,677) Impact of 20% adverse change (4,028) (5,139) This sensitivity analysis presents the effect of hypothetical changes in key assumptions on the fair value of the MSR asset. The effect of such hypothetical change in assumptions generally cannot be extrapolated because the relationship of the change in one key assumption to the change in the fair value of the MSR asset is not linear. In addition, in the analysis, the impact of an adverse change in one key assumption is calculated independent of any impact on other assumptions. In reality, changes in one assumption may change another assumption. Contractually specified servicing fees, late fees and ancillary fees earned of $25.3 million, $23.3 million and $20.7 million during 2019, 2018 and 2017, respectively, were included in other noninterest income within the consolidated statements of operations.

Deposits

Deposits	12 Months Ended
Deposits	Dec. 31, 2019
Deposits
Deposits	11. Deposits Deposits are summarized as follows (in thousands). December 31, 2019 2018 Noninterest-bearing demand $ 2,769,556 $ 2,560,750 Interest-bearing: NOW accounts 1,552,209 1,358,196 Money market 2,641,116 2,725,541 Brokered - money market 5,000 5,000 Demand 329,405 393,685 Savings 199,076 184,700 Time 1,505,375 1,308,284 Brokered - time 30,477 — $ 9,032,214 $ 8,536,156 At December 31, 2019, deposits include $798.9 million of time deposit accounts that meet or exceed the FDIC insurance limit of $250,000. Scheduled maturities of interest-bearing time deposits at December 31, 2019 are as follows (in thousands). 2020 $ 1,172,822 2021 183,529 2022 118,529 2023 44,246 2024 and thereafter 16,726 $ 1,535,852

Short-term Borrowings

Short-term Borrowings	12 Months Ended
Short-term Borrowings	Dec. 31, 2019
Short-term Borrowings
Short-term Borrowings	12. Short-term Borrowings Short-term borrowings are summarized as follows (in thousands). December 31, 2019 2018 Federal funds purchased $ 81,625 $ 100,100 Securities sold under agreements to repurchase 612,125 576,707 Federal Home Loan Bank 600,000 200,000 Short-term bank loans 111,000 189,000 Commercial paper 19,260 — $ 1,424,010 $ 1,065,807 Federal funds purchased and securities sold under agreements to repurchase generally mature daily, on demand, or on some other short-term basis. The Bank and the Hilltop Broker-Dealers execute transactions to sell securities under agreements to repurchase with both customers and other broker-dealers. Securities involved in these transactions are held by the Bank, the Hilltop Broker-Dealers or a third-party dealer. Information concerning federal funds purchased and securities sold under agreements to repurchase is shown in the following tables (dollars in thousands). Year Ended December 31, 2019 2018 2017 Average balance during the year $ 605,858 $ 701,622 $ 588,847 Average interest rate during the year 2.48 % 1.96 % 1.06 % Maximum month-end balance during the year 693,750 849,568 904,704 December 31, 2019 2018 Average interest rate at end of year 1.97 % 2.43 % Securities underlying the agreements at end of year: Carrying value $ 612,515 $ 587,609 Estimated fair value $ 661,023 $ 618,231 FHLB short-term borrowings mature over terms not exceeding 365 days and are collateralized by FHLB Dallas stock, nonspecified real estate loans and certain specific commercial real estate loans. At December 31, 2019, the Bank had available collateral of $3.9 billion, substantially all of which was blanket collateral. Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). Year Ended December 31, 2019 2018 2017 Average balance during the year $ 329,356 $ 214,110 $ 390,616 Average interest rate during the year 2.16 % 2.09 % 1.08 % Maximum month-end balance during the year $ 700,000 $ 675,000 $ 850,000 December 31, 2019 2018 Average interest rate at end of year 1.56 % 2.65 % The Hilltop Broker-Dealers use short-term bank loans periodically to finance securities owned, margin loans to customers and correspondents, and underwriting activities. Interest on the borrowings varies with the federal funds rate. The weighted average interest rate on the borrowings at December 31, 2019 and 2018 was 2.52% and 3.35%, respectively. During 2019, Hilltop Securities initiated two commercial paper programs in the ordinary course of its business to fund a portion of its securities inventories. The commercial paper notes (“CP Notes”) may be issued with maturities of 14 days to 270 days from the date of issuance. The CP Notes are issuable under two separate programs, Series 2019-1 CP Notes and Series 2019-2 CP Notes, in maximum aggregate amounts of $300 million and $200 million, respectively. The CP Notes are not redeemable prior to maturity or subject to voluntary prepayment and do not bear interest, but are sold at a discount to par. The CP Notes are secured by a pledge of collateral owned by Hilltop Securities. At December 31, 2019, the amount outstanding under these secured arrangements was collateralized by securities held for firm accounts valued at $20.9 million. As of December 31, 2019, the weighted average maturity of the CP Notes was 90 days at a rate of 2.208%.

Notes Payable

Notes Payable	12 Months Ended
Notes Payable	Dec. 31, 2019
Notes Payable
Notes Payable	13. Notes Payable Notes payable consisted of the following (in thousands). December 31, 2019 2018 Senior Notes due April 2025, net of discount of $1,232 and $1,393, respectively $ 148,768 $ 148,607 FHLB notes, including premium of $146 and $222, respectively, with maturities ranging from September 2020 to June 2030 and interest payable monthly 28,848 4,391 NLIC note payable due May 2033, three-month LIBOR plus 4.10% (6.01% at December 31, 2019) with interest payable quarterly 10,000 10,000 NLIC note payable due September 2033, three-month LIBOR plus 4.05% (5.96% at December 31, 2019) with interest payable quarterly 10,000 10,000 ASIC note payable due April 2034, three-month LIBOR plus 4.05% (5.96% at December 31, 2019) with interest payable quarterly 7,500 7,500 Ventures Management lines of credit due May 2020 78,653 48,374 $ 283,769 $ 228,872 Senior Notes On April 9, 2015, Hilltop completed an offering of $150.0 million aggregate principal amount of its 5% senior notes due 2025 (“Senior Unregistered Notes”) in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Senior Unregistered Notes were offered within the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to persons outside of the United States under Regulation S under the Securities Act. The Senior Unregistered Notes were issued pursuant to an indenture, dated as of April 9, 2015, by and between Hilltop and U.S. Bank National Association, as trustee. The net proceeds from the offering, after deducting estimated fees and expenses and the initial purchasers’ discounts, were approximately $148 million. Hilltop used the net proceeds of the offering to redeem all of Hilltop’s outstanding Non-Cumulative Perpetual Preferred Stock, Series B at an aggregate liquidation value of $114.1 million, plus accrued but unpaid dividends of $0.4 million, and Hilltop utilized the remainder for general corporate purposes. Unamortized debt issuance costs presented as a reduction from the Senior Notes are discussed further in Note 1 to the consolidated financial statements. In connection with the issuance of the Senior Unregistered Notes, on April 9, 2015, the Company entered into a registration rights agreement with the initial purchasers of the Senior Unregistered Notes. Under the terms of the registration rights agreement, the Company agreed to offer to exchange the Senior Unregistered Notes for notes registered under the Securities Act (the “Senior Registered Notes”). The terms of the Senior Registered Notes are substantially identical to the Senior Unregistered Notes for which they were exchanged (including principal amount, interest rate, maturity and redemption rights), except that the Senior Registered Notes generally are not subject to transfer restrictions. On May 22, 2015 and subject to the terms and conditions set forth in the Senior Registered Notes prospectus, the Company commenced an offer to exchange the Senior Unregistered Notes for Senior Registered Notes. Substantially all of the Senior Unregistered Notes were tendered in the exchange offer, and on June 22, 2015, the Company fulfilled its requirements under the registration rights agreement for the Senior Unregistered Notes by issuing Senior Registered Notes in exchange for the tendered Senior Unregistered Notes. The Senior Registered Notes and the Senior Unregistered Notes that remain outstanding are collectively referred to as the “Senior Notes.” The Senior Notes bear interest at a rate of 5% per year, payable semi-annually in arrears in cash on April 15 and October 15 of each year. The Senior Notes will mature on April 15, 2025, unless Hilltop redeems the Senior Notes, in whole at any time or in part from time to time, on or after January 15, 2025 (three months prior to the maturity date of the Senior Notes) at its election at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. The indenture contains covenants that limit the Company’s ability to, among other things and subject to certain significant exceptions: (i) dispose of or issue voting stock of certain of the Company’s bank subsidiaries or subsidiaries that own voting stock of the Company’s bank subsidiaries, (ii) incur or permit to exist any mortgage, pledge, encumbrance or lien or charge on the capital stock of certain of the Company’s bank subsidiaries or subsidiaries that own capital stock of the Company’s bank subsidiaries and (iii) sell all or substantially all of the Company’s assets or merge or consolidate with or into other companies. The indenture also provides for certain events of default, which, if any of them occurs, would permit or require the principal amount, premium, if any, and accrued and unpaid interest on the then outstanding Senior Notes to be declared immediately due and payable. Federal Home Loan Bank notes The FHLB notes have interest rates ranging from 1.96% to 5.70%, with a weighted average interest rate of 2.18% at December 31, 2019. The FHLB notes, as well as other borrowings from the FHLB, are collateralized by FHLB stock, a blanket lien on commercial and real estate loans, as well as by the amount of securities that are in safekeeping at the FHLB, the value of which was $3.9 billion at December 31, 2019. NLIC and ASIC Notes Payable The NLIC and ASIC notes payable to unaffiliated companies are each subordinated in right of payment to all policy claims and other indebtedness of NLIC and ASIC, respectively. Further, all payments of principal and interest require the prior approval of the Insurance Commissioner of the State of Texas and are only payable to the extent that the statutory surplus of NLIC exceeds $30 million and ASIC exceeds $15 million. The NLIC and ASIC loan agreements relating to the notes payable contain various covenants pertaining to limitations on additional debt, dividends, officer and director compensation, and minimum capital requirements. The Company was in compliance with the covenants at December 31, 2019. Ventures Management Lines of Credit At December 31, 2019, Ventures Management’s ABAs had combined available lines of credit totaling $150.0 million, $100.0 million of which was with a single unaffiliated bank and $50.0 million of which was with the Bank. At December 31, 2019, Ventures Management had outstanding borrowings of $95.0 million, $16.4 million of which was with the Bank with stated interest rates of the greater of a calculated index rate on mortgage notes or 3.25% to 3.75%. The weighted average interest rate of these lines of credit at December 31, 2019 was 3.31%. The Ventures Management lines of credit are collateralized by mortgage notes, and the loan agreements relating to the lines of credit contain various financial and other covenants which must be maintained until all indebtedness to the financial institution is repaid. As of December 31, 2019, the net worth of two of the ABAs was less than the amount required by the unaffiliated bank’s debt covenants. Both ABAs received a waiver for this covenant from the unaffiliated bank as of December 31, 2019. Scheduled Maturities Scheduled maturities for notes payable outstanding at December 31, 2019 are as follows (in thousands). 2020 $ 80,868 2021 413 2022 — 2023 — 2024 — Thereafter 203,573 $ 284,854

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2019
Leases
Leases	1 4. Leases Hilltop and its subsidiaries lease space, primarily for corporate offices, branch facilities and automated teller machines, under both operating and finance leases. Certain of the Company’s leases have options to extend, with the longest extension option being options Supplemental balance sheet information related to finance leases is as follows (in thousands). December 31, 2019 Finance leases: Premises and equipment $ 7,780 Accumulated depreciation (4,178) Premises and equipment, net $ 3,602 Operating lease rental cost and finance lease amortization of ROU assets is included within occupancy and equipment, net in the consolidated statements of operations. Finance lease interest expense is included within other interest expense in the consolidated statements of operations. The Company does not generally enter into leases which contain variable payments, other than due to the passage of time. The components of lease costs, including short-term lease costs, are as follows (in thousands). Year Ended December 31, 2019 Operating lease cost $ 44,331 Less operating lease and sublease income (2,657) Net operating lease cost $ 41,674 Finance lease cost: Amortization of ROU assets $ 590 Interest on lease liabilities 596 Total finance lease cost $ 1,186 Supplemental cash flow information related to leases is as follows (in thousands): Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 37,527 Operating cash flows from finance leases 587 Financing cash flows from finance leases 603 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 27,055 Finance leases — Information regarding the lease terms and discount rates of the Company’s leases is as follows. December 31, 2019 Weighted Average Weighted Average Lease Classification Remaining Lease Term (Years) Discount Rate Operating 5.9 5.29 % Finance 6.5 4.79 % Maturities of lease liabilities at December 31, 2019, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). Operating Leases Finance Leases 2020 $ 35,676 $ 1,197 2021 28,974 1,212 2022 22,942 1,241 2023 18,114 1,280 2024 11,847 1,163 Thereafter 33,879 2,297 Total minimum lease payments $ 151,432 $ 8,390 Less amount representing interest (23,030) (2,895) Lease liabilities $ 128,402 $ 5,495 As of December 31, 2019, the Company had no additional operating leases that have not yet commenced. A related party is the lessor in an operating lease with Hilltop. Hilltop’s minimum payment under the lease is $0.5 million annually through 2028, for an aggregate remaining obligation of $4.6 million at December 31, 2019. The Company adopted ASC 842, Leases Leases Operating Leases Capital Leases 2019 $ 36,171 $ 1,186 2020 29,109 1,197 2021 21,058 1,212 2022 16,386 1,241 2023 12,361 1,280 Thereafter 18,264 3,460 Total minimum lease payments $ 133,349 9,576 Amount representing interest (1,221) Present value of minimum lease payments $ 8,355

Junior Subordinated Debentures

Junior Subordinated Debentures and Trust Preferred Securities	12 Months Ended
	Dec. 31, 2019
Junior Subordinated Debentures and Trust Preferred Securities
Junior Subordinated Debentures and Trust Preferred Securities	15. Junior Subordinated Debentures and Trust Preferred Securities PCC has four statutory Trusts, three of which were formed under the laws of the state of Connecticut and one of which, PCC Statutory Trust IV, was formed under the laws of the state of Delaware. The Trusts were created for the sole purpose of issuing and selling preferred securities and common securities, using the resulting proceeds to acquire junior subordinated debentures issued by PCC (the “Debentures”). Accordingly, the Debentures are the sole assets of the Trusts, and payments under the Debentures are the sole revenue of the Trusts. All of the common securities are owned by PCC; however, PCC is not the primary beneficiary of the Trusts. Accordingly, the Trusts are not included in the Company’s consolidated financial statements. The Trusts have issued $65,000,000 of floating rate preferred securities and $2,012,000 of common securities and have invested the proceeds from the securities in floating rate Debentures of PCC. Information regarding the PCC Debentures is shown in the following table (in thousands). Investor Issue Date Amount PCC Statutory Trust I July 31, 2001 $ 18,042 PCC Statutory Trust II March 26, 2003 $ 18,042 PCC Statutory Trust III September 17, 2003 $ 15,464 PCC Statutory Trust IV February 22, 2008 $ 15,464 The stated term of the Debentures is 30 years with interest payable quarterly. The rate on the Debentures, which resets quarterly, is 3-month LIBOR plus an average spread of 3.22%. The total average interest rate at December 31, 2019 was 5.14%. The term, rate and other features of the preferred securities are the same as the Debentures. PCC’s obligations under the Debentures and related documents, taken together, constitute a full and unconditional guarantee of the Trust’s obligations under the preferred securities.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2019
Income Taxes
Income Taxes	16. Income Taxes The significant components of the income tax provision are as follows (in thousands). Year Ended December 31, 2019 2018 2017 Current: Federal $ 61,934 $ 19,504 $ 63,769 State $ 9,253 $ 2,349 $ 5,440 71,187 21,853 69,209 Deferred: Federal $ (2,500) $ 11,352 $ 40,176 State $ (1,355) $ 1,845 $ 757 (3,855) 13,197 40,933 $ 67,332 $ 35,050 $ 110,142 The income tax provision differs from the amount that would be computed by applying the statutory Federal income tax rate to income before income taxes as a result of the following (in thousands). The applicable corporate federal income tax rates were 21% for 2019 and 2018 and 35% for 2017. Year Ended December 31, 2019 2018 2017 Computed tax at federal statutory rate $ 63,065 $ 33,763 $ 85,150 Tax effect of: Tax Legislation — — 28,363 Non-taxable acquisition adjustment — 263 (6,682) Nondeductible transaction costs — 86 774 Nondeductible expenses 2,728 2,864 3,089 State income taxes 6,239 3,313 4,028 Tax-exempt income, net (1,727) (1,432) (2,758) Minority interest (1,614) (900) (210) Share-based compensation benefit (145) (273) (412) Prior year return to provision adjustment (980) (1,682) (943) Other (234) (952) (257) $ 67,332 $ 35,050 $ 110,142 The components of the tax effects of temporary differences that give rise to the net deferred tax asset included in other assets within the consolidated balance sheets are as follows (in thousands). December 31, 2019 2018 Deferred tax assets: Net operating and built-in loss carryforward $ 7,823 $ 9,656 Purchase accounting adjustment - loans 15,851 19,673 Allowance for loan losses 14,796 14,137 Compensation and benefits 17,813 14,865 Legal and other reserves 1,272 3,483 Foreclosed property 5,456 3,974 Operating lease ROU assets 29,125 — Other 9,774 15,142 101,910 80,930 Deferred tax liabilities: Premises and equipment 10,079 12,344 Intangible assets 7,684 9,326 Derivatives 4,342 4,169 Loan servicing 13,278 15,761 Operating lease liabilities 26,498 — Other 9,652 7,074 71,533 48,674 Net deferred tax asset $ 30,377 $ 32,256 The Company’s effective tax rate was 22.4%, 21.8% and 45.3% during 2019, 2018 and 2017, respectively. The 2019 and 2018 effective tax rates approximated statutory rates and includes the effect of investments in tax-exempt instruments, offset by nondeductible expenses. The effective tax rate during 2017 was higher than the statutory rate primarily due to the revaluation of deferred tax assets as a result of the Tax Legislation, partially offset by a non-taxable gain recorded in the resolution of the SWS appraisal proceedings as the SWS Merger was a tax-free reorganization. At December 31, 2019 and 2018, the Company had net operating loss carryforwards for Federal income tax purposes of $11.4 million and $20.9 million, respectively (or $2.4 million and $4.4 million, respectively, on a tax effected basis at applicable rates for respective tax years). The net operating loss carryforwards are subject to an annual Section 382 limitation on their usage. These net operating loss carryforwards expire in starting in 2033. The Company expects to realize its current deferred tax asset for these net operating loss carryforwards through the implementation of certain tax planning strategies, core earnings, and reversal of timing differences. Based on the Company’s evaluation of its deferred tax assets, management determined that no valuation allowance against its gross deferred tax assets was necessary at December 31, 2019 or 2018. GAAP requires the measurement of uncertain tax positions. Uncertain tax positions are the difference between a tax position taken, or expected to be taken in a tax return, and the benefit recognized for accounting purposes. At December 31, 2019 and 2018, the total amount of gross unrecognized tax benefits was $2.8 million and $3.1 million, respectively, of which $2.1 million and $2.5 million, respectively, if recognized, would favorably impact the Company’s effective tax rate. The aggregate changes in gross unrecognized tax benefits, which excludes interest and penalties, are as follows (in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 3,056 $ 1,574 $ 1,704 Increases related to tax positions taken during a prior year 317 770 476 Decreases related to tax positions taken during a prior year (423) — (1,273) Increases related to tax positions taken during the current year 288 712 667 Decreases related to expiration of the statute of limitations (430) — — Balance, end of year $ 2,808 $ 3,056 $ 1,574 Specific positions that may be resolved include issues involving apportionment and tax credits. At December 31, 2019, the unrecognized tax benefit is recorded as taxes receivable, which is included in other assets within the consolidated balance sheet. The Company files income tax returns in U.S. federal and numerous state jurisdictions. The Company is subject to tax audits in numerous jurisdictions in the United States until the applicable statute of limitations expires. The Company is no longer subject to U.S. federal tax examinations for tax years prior to 2016. The Company is open for various state tax audits for tax years 2015 and later.

Employee Benefits

Employee Benefits	12 Months Ended
Employee Benefits	Dec. 31, 2019
Employee Benefits
Employee Benefits	17. Employee Benefits Hilltop and its subsidiaries have benefit plans that provide for elective deferrals by employees under Section 401(k) of the Internal Revenue Code. Employee contributions are determined by the level of employee participation and related salary levels per Internal Revenue Service regulations. Hilltop and its subsidiaries match a portion of employee contributions based on the amount of eligible employees’ contributions and salaries. The amount charged to operating expense for these matching contributions totaled $15.7 million, $15.0 million and $13.9 million during 2019, 2018 and 2017, respectively. Effective upon the completion of the PlainsCapital Merger, the Company recorded a liability of $8.9 million associated with separate retention agreements entered into between Hilltop and two executive officers. At December 31, 2019 and 2018, the recorded liability, including interest, was $2.6 million and $9.2 million, respectively. The decrease in the recorded liability was in connection with the retirement in April 2019 of Alan B. White, the Company’s former Vice Chairman and Co-Chief Executive Officer, whereby payments due under Mr. White’s retention agreement were triggered and paid. The Bank purchased $15.0 million of flexible premium universal life insurance in 2001 to help finance the annual expense incurred in providing various employee benefits. At December 31, 2019 and 2018, the carrying value of the policies included in other assets was $26.2 million and $26.5 million, respectively. During each of 2019, 2018 and 2017, the Bank recorded income of $1.0 million, $0.6 million and Deferred Compensation Plan As a result of the SWS Merger, the Company assumed a deferred compensation plan (the “SWS Plan”) that allows former SWS eligible officers and employees to defer a portion of their bonus compensation and commissions. The SWS Plan matched 15% of the deferrals made by participants up to a predetermined limit through matching contributions that vest ratably over four years. Pursuant to the terms of the SWS Plan, the trustee periodically purchased the former SWS common stock in the open market. As a result of the SWS Merger, the former SWS common shares were converted into Hilltop common stock based on the terms of the merger agreement. No further contributions can be made to this plan. The assets of the SWS Plan are held in a rabbi trust and primarily include investments in company-owned life insurance (“COLI”) and Hilltop common stock. These assets are consolidated with those of the Company. Investments in COLI are carried at the cash surrender value of the insurance policies and recorded in other assets within the consolidated balance sheet at December 31, 2019 and 2018, respectively. Investments in Hilltop common stock, which are carried at cost, and the corresponding liability related to the deferred compensation plan are presented as components of stockholders’ equity as employee stock trust and deferred compensation employee stock trust, net, respectively, at December 31, 2019 and 2018, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
Related Party Transactions
Related Party Transactions	18. Related Party Transactions Jeremy B. Ford, a director and the President and Chief Executive Officer of Hilltop, is the beneficiary of a trust that owns a 49% limited partnership interest in Diamond A Financial, L.P., which owned 17.3% of the outstanding Hilltop common stock at December 31, 2019. Jeremy B. Ford is the son of Gerald J. Ford. Corey G. Prestidge, Hilltop’s General Counsel and Secretary, is the son-in-law of Gerald J. Ford. Accordingly, Messrs. Jeremy Ford and Corey Prestidge are brothers-in-law. In the ordinary course of business, the Bank has granted loans to certain directors, executive officers and their affiliates (collectively referred to as related parties) totaling $5 thousand and $1.2 million at December 31, 2019 and 2018, respectively. These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. For such loans during 2019, there were no principal additions and total principal payments were $1.1 million. At December 31, 2019 and 2018, the Bank held deposits of related parties of $141.2 million and $126.3 million, respectively. A related party is the lessor in an operating lease with the Bank. The Bank’s minimum payment under the lease is $0.5 million annually through 2028, for an aggregate remaining obligation of $4.6 million at December 31, 2019. The Bank purchased loans from a company for which a related party served as a director, president and chief executive officer. At December 31, 2019 and 2018, the outstanding balance of the purchased loans was $0.7 million and $1.2 million, respectively. The loans were purchased with recourse in the ordinary course of business and the related party had no direct financial interest in the transaction. Hilltop Plaza Investment On July 31, 2018, Hillcrest Land LLC purchased approximately 1.7 acres of land in the City of University Park, Texas for $38.5 million. Hillcrest Land LLC is owned equally between Hilltop Investments I, LLC, a wholly owned entity of Hilltop, and Diamond Ground, LLC, an affiliate of Mr. Gerald J. Ford. Each of Hilltop Investments I, LLC and Diamond Ground , LLC contributed $19.3 million to Hillcrest Land LLC to complete the purchase. As the voting rights of Hillcrest Land LLC are shared equally between the Company and Diamond Ground, LLC, there is no primary beneficiary, and Diamond Ground, LLC’s interest in Hillcrest Land LLC has been reflected as a noncontrolling interest in the Company’s consolidated financial statements. Therefore, the Company has consolidated Hillcrest Land LLC under the VIE model according to the “most-closely associated” test. The purchased land is included within premises and equipment, net in the consolidated balance sheets. Any income (loss) associated with Hillcrest Land LLC is included within other noninterest income in the consolidated statements of operations. Trusts for which Jeremy Ford and the wife of Corey Prestidge are a beneficiary own 10.2% and 10.1%, respectively, of Diamond Ground, LLC. In connection with the purchase of the land, Hillcrest Land LLC entered into a 99-year ground lease of the land with three tenants-in-common: SPC Park Plaza Partners LLC (“Park Plaza LLC”), an unaffiliated entity which received an undivided 50% leasehold interest; HTH Project LLC, a wholly owned subsidiary of Hilltop, which received an undivided 25% leasehold interest; and Diamond Hillcrest, LLC (“Diamond Hillcrest”), an entity owned by Mr. Gerald J. Ford, which received an undivided 25% leasehold interest (collectively, the “Co-Owners”). The ground lease is triple net. The base rent from the Co-Owners under the ground lease commences 18 months after the ground lease was signed at $1.8 million per year and increases 1.0 % per year each January 1 thereafter. The ground lease was classified as an operating lease under ASC 840, and the accounting commencement date was determined to be July 31, 2018, the date the land was available to the Co-Owners. Concurrent with the ground lease, the Co-Owners entered into an agreement to purchase the improvements currently being constructed on the land, which is a mixed-use project containing a six-story building (“Hilltop Plaza”). HTH Project LLC and Diamond Diamond Hilltop and the Bank entered into leases for a significant portion of the total rentable corporate office space in Hilltop Plaza to serve as the headquarters for both companies. Affiliates of Mr. Gerald J. Ford also entered into leases for office space in the building. The two separate 129 -month office and retail leases of Hilltop and the Bank, respectively, have combined total base rent of approximately $35 million with the first nine months of rent abated. The accounting commencement date of both leases was determined to be June 20, 2019, the date the building was delivered in order for tenant improvement work to commence. The combined operating lease liability, net of lease incentives, recognized during the second quarter of 2019 as a result of the commencement of these leases was $18.9 million. During 2018, the office and retail leases were considered under the build-to-suit provisions of ASC 840, and the Company was determined to be the accounting owner of the project as its affiliate, HTH Project LLC, has an equity investment in the project. As such, the assets of Hilltop Plaza were recognized during the construction period through December 31, 2018, as costs were incurred to construct the asset, with a corresponding liability representing the costs paid for by the lessor (the Co-Owners). At December 31, 2018, the $27.8 million of costs incurred to date were included within premises and equipment and other liabilities, respectively, in the consolidated balance sheets. The Company reassessed its accounting ownership of the Hilltop Plaza assets under construction as of January 1, 2019, under the build-to-suit provisions of the newly adopted ASC 842, Leases All intercompany transactions associated with the Hilltop Plaza investment and the related transactions discussed above are eliminated in consolidation.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies
Commitments and Contingencies	19. Commitments and Contingencies During 2017, the Bank acted as agent on behalf of certain correspondent banks in the purchase and sale of federal funds that aggregated to $3.0 million at December 31, 2017. There were no such transactions during 2019 and 2018. Legal Matters The Company is subject to loss contingencies related to litigation, claims, investigations and legal and administrative cases and proceedings arising in the ordinary course of business. The Company evaluates these contingencies based on information currently available, including advice of counsel. The Company establishes accruals for those matters when a loss contingency is considered probable and the related amount is reasonably estimable. Any accruals are periodically reviewed and may be adjusted as circumstances change. A portion of the Company’s exposure with respect to loss contingencies may be offset by applicable insurance coverage. In determining the amounts of any accruals or estimates of possible loss contingencies, the Company does not take into account the availability of insurance coverage, other than that provided by reinsurers in the insurance segment. When it is practicable, the Company estimates loss contingencies for possible litigation and claims, whether or not there is an accrued probable loss. When the Company is able to estimate such probable losses, and when it estimates that it is reasonably possible it could incur losses in excess of amounts accrued, the Company is required to make a disclosure of the aggregate estimation. As available information changes, however, the matters for which the Company is able to estimate, as well as the estimates themselves, will be adjusted accordingly. Assessments of litigation and claims exposures are difficult due to many factors that involve inherent unpredictability. Those factors include the following: the varying stages of the proceedings, particularly in the early stages; unspecified, unsupported, or uncertain damages; damages other than compensatory, such as punitive damages; a matter presenting meaningful legal uncertainties, including novel issues of law; multiple defendants and jurisdictions; whether discovery has begun or is complete; whether meaningful settlement discussions have commenced; and whether the claim involves a class action and if so, how the class is defined. As a result of some of these factors, the Company may be unable to estimate reasonably possible losses with respect to some or all of the pending and threatened litigation and claims asserted against the Company. The Company is involved in information-gathering requests and investigations (both formal and informal), as well as reviews, examinations and proceedings (collectively, “Inquiries”) by various governmental regulatory agencies, law enforcement authorities and self-regulatory bodies regarding certain of its businesses, business practices and policies, as well as the conduct of persons with whom it does business. Additional Inquiries will arise from time to time. In connection with those Inquiries, the Company receives document requests, subpoenas and other requests for information. The Inquiries, including the Inquiry described below, could develop into administrative, civil or criminal proceedings or enforcement actions that could result in consequences that have a material effect on the Company's consolidated financial position, results of operations or cash flows as a whole. Such consequences could include adverse judgments, findings, settlements, penalties, fines, orders, injunctions, restitution, or alterations in the Company’s business practices, and could result in additional expenses and collateral costs, including reputational damage. While the final outcome of litigation and claims exposures or of any Inquiries is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation and Inquiries will not, except related to specific matters disclosed above, have a material effect on the Company’s business, consolidated financial position, results of operations or cash flows as a whole. However, in the event of unexpected future developments, it is reasonably possible that an adverse outcome in any matter, including the matters discussed above, could be material to the Company’s business, consolidated financial position, results of operations or cash flows for any particular reporting period of occurrence. Indemnification Liability Reserve The mortgage origination segment may be responsible to agencies, investors, or other parties for errors or omissions relating to its representations and warranties that each loan sold meets certain requirements, including representations as to underwriting standards and the validity of certain borrower representations in connection with the loan. If determined to be at fault, the mortgage origination segment either repurchases the affected loan from or indemnifies the claimant against loss. The mortgage origination segment has established an indemnification liability reserve for such probable losses. Generally, the mortgage origination segment first becomes aware that an agency, investor, or other party believes a loss has been incurred on a sold loan when it receives a written request from the claimant to repurchase the loan or reimburse the claimant’s losses. Upon completing its review of the claimant’s request, the mortgage origination segment establishes a specific claims reserve for the loan if it concludes its obligation to the claimant is both probable and reasonably estimable. An additional reserve has been established for probable agency, investor or other party losses that may have been incurred, but not yet reported to the mortgage origination segment based upon a reasonable estimate of such losses. Factors considered in the calculation of this reserve include, but are not limited to, the total volume of loans sold exclusive of specific claimant requests, actual claim settlements and the severity of estimated losses resulting from future claims, and the mortgage origination segment’s history of successfully curing defects identified in claim requests. While the mortgage origination segment’s sales contracts typically include borrower early payment default repurchase provisions, these provisions have not been a primary driver of claims to date, and therefore, are not a primary factor considered in the calculation of this reserve. At December 31, 2019 and 2018, the mortgage origination segment’s indemnification liability reserve totaled $11.8 million and $10.7 million, respectively. The provision for indemnification losses was $3.1 million, $3.2 million and $4.0 million during 2019, 2018 and 2017, respectively. The following tables provide for a rollforward of claims activity for loans put-back to the mortgage origination segment based upon an alleged breach of a representation or warranty with respect to a loan sold and related indemnification liability reserve activity (in thousands). Representation and Warranty Specific Claims Activity - Origination Loan Balance Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 33,784 $ 33,702 $ 40,669 Claims made 20,054 22,156 42,330 Claims resolved with no payment (14,154) (13,169) (37,439) Repurchases (6,170) (8,250) (6,490) Indemnification payments (1,370) (655) (5,368) Balance, end of year $ 32,144 $ 33,784 $ 33,702 Indemnification Liability Reserve Activity Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 10,701 $ 23,472 $ 18,239 Additions for new sales 3,116 3,170 3,962 Repurchases (495) (612) (466) Early payment defaults (380) (368) (228) Indemnification payments (1) (352) (13,687) (713) Change in reserves for loans sold in prior years (814) (1,274) 2,678 Balance, end of year $ 11,776 $ 10,701 $ 23,472 December 31, 2019 2018 Reserve for Indemnification Liability: Specific claims $ 1,071 $ 676 Incurred but not reported claims 10,705 10,025 Total $ 11,776 $ 10,701 (1) Indemnification payments in 2018 included $13.5 million related to agreements with the DOJ and HUD in exchange for release of any civil claims related to certain loans originated by PrimeLending. These claims were included in incurred but not reported claims in prior periods. Although management considers the total indemnification liability reserve to be appropriate, there may be changes in the reserve over time to address incurred losses, due to unanticipated adverse changes in the economy and historical loss patterns, discrete events adversely affecting specific borrowers or industries, and/or actions taken by institutions or investors. The impact of such matters is considered in the reserving process when probable and estimable. Other Contingencies As discussed in Note 17 to the consolidated financial statements, effective upon completion of the PlainsCapital Merger, Hilltop entered into separate retention agreements with certain executive officers. As of December 31, 2019, a single retention agreement remains, with an initial term of two years (with automatic one-year renewals at the end of the first year and each anniversary thereof). This retention agreement provides for severance pay benefits if the executive officer’s employment is terminated without “cause”. In addition to this retention agreement, Hilltop and its subsidiaries maintain employment contracts with certain officers that provide for benefits in the event of a “change in control” as defined in these agreements.

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	12 Months Ended
Financial Instruments with Off-Balance Sheet Risk	Dec. 31, 2019
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	20. Financial Instruments with Off-Balance Sheet Risk The Bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit that involve varying degrees of credit and interest rate risk in excess of the amount recognized in the consolidated financial statements. Such financial instruments are recorded in the consolidated financial statements when they are funded or related fees are incurred or received. The contract amounts of those instruments reflect the extent of involvement (and therefore the exposure to credit loss) the Bank has in particular classes of financial instruments. Commitments to extend credit are agreements to lend to a customer provided that the terms established in the contract are met. Commitments generally have fixed expiration dates and may require payment of fees. Because some commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These letters of credit are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan commitments to customers. In the aggregate, the Bank had outstanding unused commitments to extend credit of $2.1 billion at December 31, 2019 and outstanding financial and performance standby letters of credit of $90.9 million at December 31, 2019. The Bank uses the same credit policies in making commitments and standby letters of credit as it does for loans held for investment. The amount of collateral obtained, if deemed necessary, in these transactions is based on management’s credit evaluation of the borrower. Collateral held varies but may include real estate, accounts receivable, marketable securities, interest-bearing deposit accounts, inventory, and property, plant and equipment. In the normal course of business, the Hilltop Broker-Dealers execute, settle, and finance various securities transactions that may expose the Hilltop Broker-Dealers to off-balance sheet risk in the event that a customer or counterparty does not fulfill its contractual obligations. Examples of such transactions include the sale of securities not yet purchased by customers or for the accounts of the Hilltop Broker-Dealers, use of derivatives to support certain non-profit housing organization clients and to hedge changes in the fair value of certain securities, clearing agreements between the Hilltop Broker-Dealers and various clearinghouses and broker-dealers, secured financing arrangements that involve pledged securities, and when-issued underwriting and purchase commitments.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
Stock-Based Compensation	Dec. 31, 2019
Stock-Based Compensation
Stock-Based Compensation	21. Stock-Based Compensation Pursuant to the Hilltop Holdings Inc. 2012 Equity Incentive Plan (the “2012 Plan”), the Company may grant nonqualified stock options, stock appreciation rights, restricted stock, RSUs, performance awards, dividend equivalent rights and other awards to employees of the Company, its subsidiaries and outside directors of the Company. In the aggregate, 4,000,000 shares of common stock may be delivered pursuant to awards granted under the 2012 Plan. At December 31, 2019, 556,368 shares of common stock remain available for issuance pursuant to the 2012 Plan, including shares that may be delivered pursuant to outstanding awards. Compensation expense related to the 2012 Plan was $11.8 million, $9.1 million and $10.8 million during 2019, 2018 and 2017, respectively. During 2019, 2018 and 2017, Hilltop granted 26,659, 30,400 and 16,859 shares of common stock, respectively, pursuant to the 2012 Plan to certain non-employee members of the Company’s board of directors for services rendered to the Company. Restricted Stock Awards and RSUs The Compensation Committee of the board of directors of the Company issued restricted shares of Hilltop common stock (“Restricted Stock Awards”) and RSUs pursuant to the 2012 Plan. The Restricted Stock Awards generally cliff vested on the third anniversary of the grant date and were subject to service conditions set forth in the award agreements, with associated costs recognized on a straight-line basis over the respective vesting periods. The award agreements governing the Restricted Stock Awards provided for accelerated vesting under certain conditions. During 2017, 3,881 Restricted Stock Awards vested with a weighted average grant date fair value of $19.95. As of September 30, 2017, all remaining Restricted Stock Awards had vested and none were outstanding. Certain RSUs are subject to time-based vesting conditions and generally provided for a cliff vest on the third anniversary of the grant date, while other RSUs provided for vesting based upon the achievement of certain performance goals over a three-year period subject to service conditions set forth in the award agreements, with associated costs generally recognized on a straight-line basis over the respective vesting periods. The RSUs are not transferable, and the shares of common stock issuable upon conversion of vested RSUs may be subject to transfer restrictions for a period of one year following conversion, subject to certain exceptions. In addition, the applicable RSU award agreements provide for accelerated vesting under certain conditions. The following table summarizes information about nonvested RSU activity (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2016 1,456 $ 19.83 Granted 450 $ 26.37 Vested/Released (451) $ 22.48 Forfeited (137) $ 22.41 Balance, December 31, 2017 1,318 $ 20.89 Granted 510 $ 24.00 Vested/Released (406) $ 19.92 Forfeited (152) $ 20.97 Balance, December 31, 2018 1,270 $ 22.44 Granted 719 $ 20.02 Vested/Released (496) $ 18.17 Forfeited (56) $ 24.12 Balance, December 31, 2019 1,437 $ 22.64 Vested/Released RSUs include an aggregate of 303,250 shares withheld to satisfy employee statutory tax obligations during 2019, 2018 and 2017. Pursuant to certain RSU award agreements, an aggregate of 17,692 vested RSUs at December 31, 2019 require deferral of the settlement in shares and statutory tax obligations to a future date. During 2019, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 710,425 RSUs pursuant to the 2012 Plan. At December 31, 2019, 603,593 of these outstanding RSUs are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date, and 91,249 of these outstanding RSUs will cliff vest based upon the achievement of certain performance goals over a three-year period. At December 31, 2019, in the aggregate, 1,198,953 of the outstanding RSUs are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date, and 238,145 outstanding RSUs cliff vest based upon the achievement of certain performance goals over a three-year period. At December 31, 2019, unrecognized compensation expense related to outstanding RSUs of $16.0 million is expected to be recognized over a weighted average period of 1.53 years.

Regulatory Matters

Regulatory Matters	12 Months Ended
Regulatory Matters	Dec. 31, 2019
Regulatory Matters
Regulatory Matters	22. Regulatory Matters Banking and Hilltop PlainsCapital, which includes the Bank and PrimeLending, and Hilltop are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory — and possibly additional discretionary — actions by regulators that, if undertaken, could have a direct, material effect on the consolidated financial statements. The regulations require PlainsCapital and Hilltop to meet specific capital adequacy guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company is ultimately dependent upon its subsidiaries to provide funding for operating expenses, debt service and dividends. Various laws limit the payment of dividends and other distributions by subsidiaries to parent companies, and may therefore limit the Company’s ability to pay dividends on its common stock. In addition, the federal bank regulatory agencies have issued policy statements providing that FDIC-insured depository institutions and their holding companies should generally pay dividends only out of their current operating earnings. Furthermore, if required payments on the Company’s outstanding junior subordinated debentures held by its unconsolidated subsidiary trusts are not made or are suspended, the Company may be prohibited from paying dividends on its common stock. Regulatory authorities could also impose administratively stricter limitations on the ability of the Company’s subsidiaries to pay dividends to the Company if such limits were deemed appropriate to preserve certain capital adequacy requirements. In January 2015, the comprehensive capital framework (“Basel III”) for U.S. banking organizations became effective for PlainsCapital and Hilltop for reporting periods beginning after January 1, 2015 (subject to a phase-in period through January 2019). Under Basel III, total capital consists of two tiers of capital, Tier 1 and Tier 2. Tier 1 capital is further composed of common equity Tier 1 capital and additional Tier 1 capital. Total capital is the sum of Tier 1 capital and Tier 2 capital. The Company performs reviews of the classification and calculation of risk-weighted assets to ensure accuracy and compliance with the Basel III regulatory capital requirements. The capital classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the companies to maintain minimum amounts and ratios (set forth in the following table) of Tier 1 capital (as defined in the regulations) to total average assets (as defined), and minimum ratios of common equity Tier 1, Tier 1 and total capital (as defined) to risk-weighted assets (as defined). In order to avoid limitations on capital distributions, including dividend payments, stock repurchases and certain discretionary bonus payments to executive officers, Basel III also implemented a capital conservation buffer, which requires a banking organization to hold a buffer above its minimum risk-based capital requirements. This buffer will help to ensure that banking organizations conserve capital when it is most needed, allowing them to better weather periods of economic stress. The buffer is measured relative to risk-weighted assets. The phase-in of the capital conservation buffer requirements began on January 1, 2016 for PlainsCapital and Hilltop. Based on the actual ratios as shown in the table below, Hilltop and the Bank exceed each of the capital conservation buffer requirements in effect as of December 31, 2019. In addition, under the final rules, bank holding companies with less than $15 billion in assets as of December 31, 2009 are allowed to continue to include junior subordinated debentures in Tier 1 capital, subject to certain restrictions. However, if an institution grows to above $15 billion in assets as a result of an acquisition, or organically grows to above $15 billion in assets and then makes an acquisition, the combined trust preferred issuances must be phased out of Tier 1 and into Tier 2 capital. All of the debentures issued to the Trusts, less the common stock of the Trusts, qualified as Tier 1 capital as of December 31, 2019, under guidance issued by the Board of Governors of the Federal Reserve System. The following tables show PlainsCapital’s and Hilltop’s actual capital amounts and ratios in accordance with Basel III compared to the regulatory minimum capital requirements including conservation buffer in effect at the end of the period and on a fully phased-in basis (dollars in thousands). Based on the actual capital amounts and ratios shown in the following table, PlainsCapital’s ratios place it in the “well capitalized” (as defined) capital category under regulatory requirements. Minimum Capital Requirements Including Conservation Buffer In Effect at Fully To Be Well Actual End of Period Phased In Capitalized Amount Ratio Ratio Ratio Ratio December 31, 2019 Tier 1 capital (to average assets): PlainsCapital $ 1,236,289 11.61 % 4.0 % 4.0 % 5.0 % Hilltop 1,822,970 12.71 % 4.0 % 4.0 % N/A Common equity Tier 1 capital (to risk-weighted assets): PlainsCapital 1,236,289 13.45 % 7.0 % 7.0 % 6.5 % Hilltop 1,776,381 16.70 % 7.0 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,236,289 13.45 % 8.5 % 8.5 % 8.0 % Hilltop 1,822,970 17.13 % 8.5 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,299,453 14.13 % 10.5 % 10.5 % 10.0 % Hilltop 1,867,771 17.55 % 10.5 % 10.5 % N/A Minimum Capital Requirements Including Conservation Buffer In Effect at Fully To Be Well Actual End of Period Phased In Capitalized Amount Ratio Ratio Ratio Ratio December 31, 2018 Tier 1 capital (to average assets): PlainsCapital $ 1,183,447 12.47 % 4.0 % 4.0 % 5.0 % Hilltop 1,680,364 12.53 % 4.0 % 4.0 % N/A Common equity Tier 1 capital (to risk-weighted assets): PlainsCapital 1,183,447 13.90 % 6.375 % 7.0 % 6.5 % Hilltop 1,634,978 16.58 % 6.375 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,183,447 13.90 % 7.875 % 8.5 % 8.0 % Hilltop 1,680,364 17.04 % 7.875 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,245,177 14.63 % 9.875 % 10.5 % 10.0 % Hilltop 1,722,602 17.47 % 9.875 % 10.5 % N/A A reconciliation of equity capital to common equity Tier 1, Tier 1 and total capital (as defined) is as follows (in thousands). December 31, 2019 December 31, 2018 PlainsCapital Hilltop PlainsCapital Hilltop Total equity capital $ 1,523,549 $ 2,103,039 $ 1,459,985 $ 1,949,470 Add: Net unrealized holding losses (gains) on securities available for sale and held in trust (9,452) (11,419) 7,988 8,627 Deduct: Goodwill and other disallowed intangible assets (276,249) (313,756) (282,238) (319,942) Other (1,559) (1,483) (2,288) (3,177) Common equity Tier 1 capital (as defined) 1,236,289 1,776,381 1,183,447 1,634,978 Add: Tier 1 capital Trust preferred securities — 65,000 — 65,000 Deduct: Additional Tier 1 capital deductions — (18,411) — (19,614) Tier 1 capital (as defined) 1,236,289 1,822,970 1,183,447 1,680,364 Add: Allowable Tier 2 capital Allowance for loan losses, including unfunded commitments 63,164 63,212 61,730 61,852 Deduct: Additional Tier 2 capital deductions — (18,411) — (19,614) Total capital (as defined) $ 1,299,453 $ 1,867,771 $ 1,245,177 $ 1,722,602 Broker-Dealer Pursuant to the net capital requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Hilltop Securities elected to determine its net capital requirement using the alternative method. Accordingly, Hilltop Securities is required to maintain minimum net capital, as defined in Rule 15c3-1 promulgated under the Exchange Act, equal to the greater of $250,000 and $1,000,000, respectively, or 2% of aggregate debit balances, as defined in Rule 15c3-3 promulgated under the Exchange Act. Additionally, the net capital rule of the NYSE provides that equity capital may not be withdrawn or cash dividends paid if resulting net capital would be less than 5% of the aggregate debit items. HTS Independent Network follows the primary (aggregate indebtedness) method, as defined in Rule 15c3-1 promulgated under the Exchange Act, which requires the maintenance of the larger of minimum net capital of $250,000 or 1/15 of aggregate indebtedness. At December 31, 2019, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). HTS Hilltop Independent Securities Network Net capital $ 318,732 $ 3,375 Less: required net capital 7,750 250 Excess net capital $ 310,982 $ 3,125 Net capital as a percentage of aggregate debit items 82.3 % Net capital in excess of 5% aggregate debit items $ 299,356 Under certain conditions, Hilltop Securities may be required to segregate cash and securities in a special reserve account for the benefit of customers under Rule 15c3-3 promulgated under the Exchange Act. Assets segregated for regulatory purposes under the provisions of the Exchange Act are restricted and not available for general corporate purposes. At December 31, 2019 and 2018, the Hilltop Broker-Dealers held cash of $157.4 million and $134.0 million, respectively, segregated in special reserve bank accounts for the benefit of customers. The Hilltop Broker-Dealers were not required to segregate cash or securities in special reserve accounts for the benefit of proprietary accounts of introducing broker-dealers at December 31, 2019 and 2018. Mortgage Origination As a mortgage originator, PrimeLending and its ABAs are subject to minimum net worth and liquidity requirements established by HUD and GNMA, as applicable. On an annual basis, PrimeLending and its ABAs submit audited financial statements to HUD and GNMA, as applicable, documenting their respective compliance with minimum net worth and liquidity requirements. As of December 31, 2019, PrimeLending and its ABAs’ net worth and liquidity exceeded the amounts required by HUD and GNMA, as applicable, with two exceptions. As of December 31, 2019, the net worth of two of the ABAs was less than the amount required by HUD. These instances were reported to HUD and cured in January 2020, and as of January 31, 2020, each of these ABAs’ net worth exceeded the amount required by HUD. Insurance The statutory financial statements of the Company’s insurance subsidiaries are domiciled in the State of Texas and are presented on the basis of accounting practices prescribed or permitted by the Texas Department of Insurance. Texas has adopted the statutory accounting practices of the National Association of Insurance Commissioners (“NAIC”) as the basis of its statutory accounting practices with certain differences that are not significant to the insurance company subsidiaries’ statutory equity. A summary of statutory capital and surplus and statutory net income (loss) of each insurance subsidiary is as follows (in thousands). December 31, 2019 2018 Statutory capital and surplus: National Lloyds Insurance Company $ 70,112 $ 78,637 American Summit Insurance Company 19,201 17,908 Year Ended December 31, 2019 2018 2017 Statutory net income (loss): National Lloyds Insurance Company $ 11,389 $ 9,114 $ (1,785) American Summit Insurance Company 968 (1,304) 742 Regulations of the Texas Department of Insurance require insurance companies to maintain minimum levels of statutory surplus to ensure their ability to meet their obligations to policyholders. At December 31, 2019, the Company’s insurance subsidiaries had statutory surplus in excess of the minimum required. The NAIC has adopted a risk based capital (“RBC”) formula for insurance companies that establishes minimum capital requirements indicating various levels of available regulatory action on an annual basis relating to insurance risk, asset credit risk, interest rate risk and business risk. The RBC formula is used by the NAIC and certain state insurance regulators as an early warning tool to identify companies that require additional scrutiny or regulatory action. At December 31, 2019, the Company’s insurance subsidiaries’ RBC ratio exceeded the level at which regulatory action would be required.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2019
Stockholders' Equity
Stockholders' Equity	23. Stockholders’ Equity The Bank is subject to certain restrictions on the amount of dividends it may declare without prior regulatory approval. At December 31, 2019, $162.6 million of its earnings was available for dividend declaration without prior regulatory approval. At December 31, 2019, the maximum aggregate dividend that may be paid to NLC from its insurance company subsidiaries without regulatory approval was $10.9 million. Dividends During 2019, 2018 and 2017, the Company declared paid On January 30, 2020, the Company announced that its board of directors declared a quarterly cash dividend of $0.09 per common share, payable on February 28, 2020, to all common stockholders of record as of the close of business on February 14, 2020. Stock Repurchase Programs The Company’s board of directors has periodically approved stock repurchase programs under which it authorized the Company to repurchase its outstanding common stock. Under the respective stock repurchase program authorized, the Company could repurchase shares in open-market purchases or through privately negotiated transactions as permitted under Rule 10b-18 promulgated under the Exchange Act. The extent to which the Company repurchased its shares and the timing of such repurchases depended upon market conditions and other corporate considerations, as determined by Hilltop’s management team. Repurchased shares will be returned to the Company’s pool of authorized but unissued shares of common stock. In January 2017, the Hilltop board of directors reauthorized the stock repurchase program originally approved during the second quarter of 2016 through January 2018. During 2017, the Company paid $27.4 million to repurchase an aggregate of 1,057,656 shares of common stock at a weighted average price of $25.87 per share, inclusive of repurchases to offset dilution related to grants of stock-based compensation. This stock repurchase program expired in January 2018. All purchases were funded from available cash balances. In January 2018, the Hilltop board of directors authorized a stock repurchase program through January 2019 pursuant to which the Company was originally authorized to repurchase, in the aggregate, up to $50.0 million of its outstanding common stock. In July 2018, the Hilltop board of directors authorized an increase to the aggregate amount of common stock the Company may repurchase under this program to $100.0 million, inclusive of repurchases to offset dilution related to grants of stock-based compensation. During 2018, the Company paid $59.0 million to repurchase an aggregate of 2,729,568 shares of common stock at a weighted average price of $21.61 per share. This stock repurchase program expired in January 2019. The purchases were funded from available cash balances. In January 2019, the Hilltop board of directors authorized a stock repurchase program through January 2020, pursuant to which the Company was authorized to repurchase, in the aggregate, up to $50.0 million of its outstanding common stock. On August 19, 2019, the Company entered into a Securities Purchase Agreement to purchase 2,175,404 shares of its common stock from Oak Hill Capital Partners III, L.P., Oak Hill Capital Management Partners III, L.P. and Oak Hill Capital Management, LLC (collectively, “Oak Hill Capital”). The Hilltop board of directors, other than Messrs. J. Taylor Crandall and Gerald J. Ford, considered and approved the purchase of the shares of Hilltop common stock from Oak Hill Capital. Hilltop director J. Taylor Crandall is a founding Managing Partner of Oak Hill Capital Management, LLC. The purchase was consummated on August 20, 2019 at a purchase price of $48.4 million, or $22.25 per share. The purchase price per share was determined by the weighted average of the closing prices of Hilltop common stock as reported by the New York Stock Exchange for each trading day commencing on August 12, 2019 and ending on August 16, 2019. The repurchase of shares by Hilltop from Oak Hill Capital fully utilized all remaining availability of the stock repurchase program previously authorized in January 2019. During 2019, the Company paid $73.4 million to repurchase an aggregate of 3,390,247 shares of common stock at a weighted average price of $21.64 per share. These amounts are inclusive of the repurchase of shares by Hilltop from Oak Hill Capital discussed above. This stock repurchase program expired in January 2020. The purchases were funded from available cash balances. In January 2020, the Hilltop board of directors authorized a new stock repurchase program through January 2021, pursuant to which the Company is authorized to repurchase, in the aggregate, up to $75.0 million of its outstanding common stock, inclusive of repurchases to offset dilution related to grants of stock-based compensation.

Other Noninterest Income and Ex

Other Noninterest Income and Expense	12 Months Ended
Other Noninterest Income and Expense	Dec. 31, 2019
Other Noninterest Income and Expense
Other Noninterest Income and Expense	24. Other Noninterest Income and Expense The following table shows the components of other noninterest income and expense (in thousands). Year Ended December 31, 2019 2018 2017 Other noninterest income: Net gains from Hilltop Broker-Dealer structured product and derivative activities $ 129,571 $ 41,543 $ 70,922 Net gain from trading securities portfolio 20,521 6,197 20,210 Service charges on depositor accounts 15,170 14,484 14,429 Trust fees 10,255 9,807 7,485 Insurance commissions 5,325 5,211 4,819 Insurance direct billing and other policy fees 3,708 3,930 4,353 Revenue from check and stored value cards 2,784 2,966 3,169 Rent and other income from other real estate owned 438 764 1,280 SWS merger appraisal proceeding — — 11,757 Other 9,493 11,403 25,546 $ 197,265 $ 96,305 $ 163,970 Other noninterest expense: Software and information technology $ 53,916 $ 56,986 $ 45,891 Brokerage commissions and fees 20,039 20,674 22,884 Mortgage origination and servicing 19,892 19,705 22,353 Unreimbursed loan closing costs 16,784 16,798 20,428 Business development 12,967 15,913 18,619 Travel, meals and entertainment 12,526 12,389 12,839 Amortization of intangible assets 7,850 8,426 8,263 Funding fees 5,393 5,414 8,464 Office supplies 5,121 6,123 7,806 OREO and repossessed assets 1,858 3,885 4,004 FDIC indemnification asset amortization — 6,509 17,083 FDIC "true-up" — 250 2,100 Other 47,836 51,183 51,362 $ 204,182 $ 224,255 $ 242,096

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
Derivative Financial Instruments	Dec. 31, 2019
Derivative Financial Instruments
Derivative Financial Instruments	25. Derivative Financial Instruments The Company uses various derivative financial instruments to mitigate interest rate risk. The Bank’s interest rate risk management strategy involves effectively managing the re-pricing characteristics of certain assets and liabilities to mitigate potential adverse impacts from changes in interest rates on the Bank’s net interest margin. Additionally, the Bank manages variability of cash flows associated with its variable rate debt in interest-related cash outflows with interest rate swap contracts. PrimeLending has interest rate risk relative to interest rate lock commitments (“IRLCs”) and its inventory of mortgage loans held for sale. PrimeLending is exposed to such interest rate risk from the time an IRLC is made to an applicant to the time the related mortgage loan is sold. To mitigate interest rate risk, PrimeLending executes forward commitments to sell mortgage-backed securities (“MBSs”) and Eurodollar futures. Additionally, PrimeLending has interest rate risk relative to its MSR asset and uses derivative instruments, including interest rate swaps and U.S. Treasury bond futures and options, to hedge this risk. The Hilltop Broker-Dealers use forward commitments to both purchase and sell MBSs to facilitate customer transactions and as a means to hedge related exposure to interest rate risk in certain inventory positions. Additionally, Hilltop Securities uses U.S. Treasury bond, Eurodollar futures and municipal market data, or MMD, rate locks to hedge changes in the fair value of its securities. Non-Hedging Derivative Instruments and the Fair Value Option As discussed in Note 3 to the consolidated financial statements, the Company has elected to measure substantially all mortgage loans held for sale at fair value under the provisions of the Fair Value Option. The election provides the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without applying complex hedge accounting provisions. The fair values of PrimeLending’s IRLCs and forward commitments are recorded in other assets or other liabilities, as appropriate, and changes in the fair values of these derivative instruments are recorded as a component of net gains from sale of loans and other mortgage production income. These changes in fair value are attributable to changes in the volume of IRLCs, mortgage loans held for sale, commitments to purchase and sell MBSs and MSR assets, and changes in market interest rates. Changes in market interest rates also conversely affect the value of PrimeLending’s mortgage loans held for sale and its MSR asset, which are measured at fair value under the Fair Value Option. The effect of the change in market interest rates on PrimeLending’s loans held for sale and MSR asset is discussed in Note 3 to the consolidated financial statements. The fair values of the Hilltop Broker-Dealers’ and the Bank’s derivative instruments are recorded in other assets or other liabilities, as appropriate. The changes in fair value were recorded as a component of other noninterest income. Changes in the fair value of derivatives are presented in the following table (in thousands). Year Ended December 31, 2019 2018 2017 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 8,550 $ (12,788) $ (13,108) Hilltop Broker-Dealers (3,085) (381) 8,142 Bank (148) 30 334 Hedging Derivative Instruments During 2019, the Company entered into interest rate swap contracts with the initial notional of $50 million to manage the variability of cash flows associated with our variable rate borrowings. Under these interest rate swap contract, we receive a floating rate and pay a fixed rate on the outstanding notional amount. The Company has designated the interest rate swap as a cash flow hedge and assess the hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. To the extent that the interest rate swap is highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the derivative are included as a component of other comprehensive loss on our consolidated balance sheets. Although the Company has determined at the onset of the hedge that the interest rate swap will be a highly effective hedge throughout the term of the contract, any portion of fair value swap subsequently determined to be ineffective will be recognized in earnings. Derivative positions are presented in the following table (in thousands). December 31, 2019 December 31, 2018 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 914,526 $ 18,222 $ 677,267 $ 17,421 Customer-based written options 31,200 — 31,200 (49) Customer-based purchased options 31,200 — 31,200 49 Commitments to purchase MBSs 3,346,946 3,321 2,359,630 10,467 Commitments to sell MBSs 5,988,198 (5,904) 3,711,477 (19,315) Interest rate swaps 15,012 (178) 15,104 82 U.S. Treasury bond futures and options (1) 283,500 — 367,200 — Eurodollar futures (1) 934,000 — 104,000 — Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 50,000 $ 528 $ — $ — (1) Changes in the fair value of these contracts are settled daily with the respective counterparties of PrimeLending and the Hilltop Broker-Dealers. PrimeLending has cash collateral advances totaling $4.5 million and $11.9 million to offset net liability derivative positions on its commitments to sell MBSs at December 31, 2019 and 2018, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers advanced cash collateral totaling $3.7 million and $3.4 million on its U.S. Treasury bond futures and options and Eurodollar futures at December 31, 2019 and 2018, respectively. These amounts are included in other assets within the consolidated balance sheets.

Balance Sheet Offsetting

Balance Sheet Offsetting	12 Months Ended
Balance Sheet Offsetting	Dec. 31, 2019
Balance Sheet Offsetting
Balance Sheet Offsetting	26. Balance Sheet Offsetting Certain financial instruments, including resale and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheets and/or subject to master netting arrangements or similar agreements. The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands). Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Assets Cash of Recognized Offset in the Presented in the Financial Collateral Net Assets Balance Sheet Balance Sheet Instruments Pledged Amount December 31, 2019 Securities borrowed: Institutional counterparties $ 1,634,782 $ — $ 1,634,782 $ (1,586,820) $ — $ 47,962 Reverse repurchase agreements: Institutional counterparties 59,031 — 59,031 (58,619) — 412 Forward MBS derivatives: Institutional counterparties 3,640 — 3,640 (3,640) — — $ 1,697,453 $ — $ 1,697,453 $ (1,649,079) $ — $ 48,374 December 31, 2018 Securities borrowed: Institutional counterparties $ 1,365,547 $ — $ 1,365,547 $ (1,307,121) $ — $ 58,426 Interest rate options: Customer counterparties 49 — 49 — — 49 Interest rate swaps: Institutional counterparties 88 — 88 — — 88 Reverse repurchase agreements: Institutional counterparties 61,611 — 61,611 (61,390) — 221 Forward MBS derivatives: Institutional counterparties 10,469 — 10,469 (10,469) — — $ 1,437,764 $ — $ 1,437,764 $ (1,378,980) $ — $ 58,784 Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Liabilities Cash of Recognized Offset in the Presented in the Financial Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Pledged Amount December 31, 2019 Securities loaned: Institutional counterparties $ 1,555,964 $ — $ 1,555,964 $ (1,509,933) $ — $ 46,031 Interest rate swaps: Institutional counterparties 178 — 178 (112) — 66 Repurchase agreements: Institutional counterparties 586,651 — 586,651 (586,651) — — Customer counterparties 25,474 — 25,474 (25,474) — — Forward MBS derivatives: Institutional counterparties 6,890 (667) 6,223 (2,384) — 3,839 $ 2,175,157 $ (667) $ 2,174,490 $ (2,124,554) $ — $ 49,936 December 31, 2018 Securities loaned: Institutional counterparties $ 1,186,073 $ — $ 1,186,073 $ (1,136,033) $ — $ 50,040 Interest rate options: Institutional counterparties 49 — 49 — — 49 Interest rate swaps: Institutional counterparties 6 — 6 — — 6 Repurchase agreements: Institutional counterparties 533,441 — 533,441 (533,441) — — Customer counterparties 43,266 — 43,266 (43,266) — — Forward MBS derivatives: Institutional counterparties 19,331 (15) 19,316 (7,728) — 11,588 $ 1,782,166 $ (15) $ 1,782,151 $ (1,720,468) $ — $ 61,683 Secured Borrowing Arrangements Secured Borrowings (Repurchase Agreements) — one Securities Lending Activities — When lending securities, the Company receives cash or similar collateral and generally pays interest (based on the amount of cash deposited) to the other party to the transaction. Securities lending transactions are executed pursuant to written agreements with counterparties that generally require securities loaned to be marked-to-market on a daily basis. The Company receives collateral in the form of cash in an amount generally in excess of the fair value of securities loaned. The Company monitors the fair value of securities loaned on a daily basis, with additional collateral obtained or refunded, as necessary. Collateral adjustments are made on a daily basis through the facilities of various clearinghouses. The Company is a principal in these securities lending transactions and is liable for losses in the event of a failure of any other party to honor its contractual obligation. Management sets credit limits with each counterparty and reviews these limits regularly to monitor the risk level with each counterparty. The Company is subject to credit risk through its securities lending activities if securities prices decline rapidly because the value of the Company’s collateral could fall below the amount of the indebtedness it secures. In rapidly appreciating markets, credit risk increases due to short positions. The Company’s securities lending business subjects the Company to credit risk if a counterparty fails to perform or if collateral securing its obligations is insufficient. In securities transactions, the Company is subject to credit risk during the period between the execution of a trade and the settlement by the customer. The following tables present the remaining contractual maturities of repurchase agreement and securities lending transactions accounted for as secured borrowings (in thousands). The Company had no repurchase-to-maturity transactions outstanding at both December 31, 2019 and 2018. Remaining Contractual Maturities Overnight and Greater Than December 31, 2019 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: U.S. Treasury and agency securities $ 45,950 $ — $ — $ — $ 45,950 Asset-backed securities 257,396 12,892 295,887 — 566,175 Securities lending transactions: Corporate securities 120 — — — 120 Equity securities 1,555,844 — — — 1,555,844 Total $ 1,859,310 $ 12,892 $ 295,887 $ — $ 2,168,089 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 2,168,089 Amount related to agreements not included in offsetting disclosure above $ — Remaining Contractual Maturities Overnight and Greater Than December 31, 2018 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: U.S. Treasury and agency securities $ 131,848 $ — $ — $ — $ 131,848 Asset-backed securities 444,859 — — — 444,859 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,185,960 — — — 1,185,960 Total $ 1,762,780 $ — $ — $ — $ 1,762,780 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,762,780 Amount related to agreements not included in offsetting disclosure above $ —

Broker-Dealer and Clearing Orga

Broker-Dealer and Clearing Organization Receivables and Payables	12 Months Ended
	Dec. 31, 2019
Broker-Dealer and Clearing Organization Receivables and Payables
Broker-Dealer and Clearing Organization Receivables and Payables	27. Broker-Dealer and Clearing Organization Receivables and Payables Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). December 31, 2019 2018 Receivables: Securities borrowed $ 1,634,782 $ 1,365,547 Securities failed to deliver 18,726 16,300 Trades in process of settlement 104,922 32,993 Other 21,850 25,447 $ 1,780,280 $ 1,440,287 Payables: Securities loaned $ 1,555,964 $ 1,186,073 Correspondents 37,036 29,311 Securities failed to receive 8,568 75,015 Other 3,950 4,526 $ 1,605,518 $ 1,294,925

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
Deferred Policy Acquisition Costs	Dec. 31, 2019
Deferred Policy Acquisition Costs.
Deferred Policy Acquisition Costs	28. Deferred Policy Acquisition Costs Policy acquisition expenses, primarily commissions, premium taxes and underwriting expenses related to the successful issuance of a new or renewal policy incurred by NLC are deferred and charged against income ratably over the terms of the related policies. A summary of the activity in deferred policy acquisition costs is as follows (in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 16,633 $ 16,988 $ 18,603 Acquisition expenses capitalized 32,245 34,328 34,934 Amortization charged to income (33,206) (34,683) (36,549) Balance, end of year $ 15,672 $ 16,633 $ 16,988 Amortization is included in policy acquisition and other underwriting expenses in the accompanying consolidated statements of operations.

Reserve for Losses and Loss Adj

Reserve for Losses and Loss Adjustment Expenses	12 Months Ended
Reserve for Losses and Loss Adjustment Expenses	Dec. 31, 2019
Reserve for Losses and Loss Adjustment Expenses
Reserve for Losses and Loss Adjustment Expenses	29. Reserve for Losses and Loss Adjustment Expenses A rollforward of NLC’s reserve for unpaid losses and LAE, as included in other liabilities within the consolidated balance sheets, is as follows (in thousands). December 31, 2019 2018 2017 Balance, beginning of year $ 20,552 $ 30,213 $ 35,826 Less reinsurance recoverables (3,214) (11,495) (9,433) Net balance, beginning of year 17,338 18,718 26,393 Incurred related to: Current year 71,687 79,881 94,444 Prior years (2,929) (535) 257 Total incurred 68,758 79,346 94,701 Payments related to: Current year (60,310) (66,009) (83,332) Prior years (11,449) (14,717) (19,044) Total payments (71,759) (80,726) (102,376) Net balance, end of year 14,337 17,338 18,718 Plus reinsurance recoverables 1,005 3,214 11,495 Balance, end of year $ 15,342 $ 20,552 $ 30,213 A summary of claims loss reserve development activity is presented in the following table (in thousands). Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance December 31, 2019 Total of Incurred But Not Reported Reserves Plus Cumulative Development Number of Accident December 31, 2019 On Reported Reported Year 2016 2017 2018 2019 Claims Claims Unaudited 2016 $ 84,771 $ 85,189 $ 84,076 $ 83,943 $ 220 20,184 2017 87,899 88,025 87,534 225 20,740 2018 75,217 73,261 1,160 15,293 2019 71,687 5,430 14,218 $ 316,425 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Accident December 31, 2019 Year 2016 2017 2018 2019 Unaudited 2016 $ 71,543 $ 81,682 $ 83,169 $ 83,596 2017 77,675 86,319 87,247 2018 61,922 71,903 2019 60,310 Total $ 303,056 All outstanding reserves prior to 2016, net of reinsurance 197 Reserve for unpaid losses and allocated loss adjustment expenses, net of reinsurance $ 13,566

Reinsurance Activity

Reinsurance Activity	12 Months Ended
Reinsurance Activity	Dec. 31, 2019
Reinsurance Activity
Reinsurance Activity	30. Reinsurance Activity NLC limits the maximum net loss that can arise from large risks or risks in concentrated areas of exposure by reinsuring (ceding) certain levels of risk. Substantial amounts of business are ceded, and these reinsurance contracts do not relieve NLC from its obligations to policyholders. Such reinsurance includes quota share, excess of loss, catastrophe, and other forms of reinsurance on essentially all property and casualty lines of insurance. Net insurance premiums earned, losses and LAE and policy acquisition and other underwriting expenses are reported net of the amounts related to reinsurance ceded to other companies. Amounts recoverable from reinsurers related to the portions of the liability for losses and LAE and unearned insurance premiums ceded to them are reported as assets. Failure of reinsurers to honor their obligations could result in losses to NLC; consequently, allowances are established for amounts deemed uncollectible as NLC evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. At December 31, 2019, total reinsurance recoverables and receivables had a carrying value of $1.0 million, which is included in other assets within the consolidated balance sheet. There was no allowance for uncollectible accounts at December 31, 2019, based on NLC’s quality requirements. Reinsurers with a balance in excess of 5% of the Company’s outstanding reinsurance receivables at December 31, 2019 are listed below (in thousands). Balances Due From A.M. Best Reinsurers Rating R+V Versicherung AG $ 166 N/A Partner Reinsurance Company Ltd. 150 A+ Arch Reinsurance Company 90 A+ Aspen Bermuda Ltd 79 A Lloyds Syndicate AML #2001 66 A Fidelis Reinsurance 55 A- Everest Reinsurance Company 52 A+ $ 658 The effects of reinsurance on premiums written and earned are summarized as follows (in thousands). Year Ended December 31, 2019 2018 2017 Written Earned Written Earned Written Earned Premiums from direct business $ 125,157 $ 126,434 $ 129,611 $ 133,112 $ 137,091 $ 144,990 Reinsurance assumed 13,148 13,041 12,917 12,516 12,150 11,767 Reinsurance ceded (7,191) (7,191) (8,749) (8,877) (12,280) (14,459) Net premiums $ 131,114 $ 132,284 $ 133,779 $ 136,751 $ 136,961 $ 142,298 The effects of reinsurance on incurred losses are as follows (in thousands). Year Ended December 31, 2019 2018 2017 Losses and LAE incurred $ 68,130 $ 76,464 $ 138,358 Reinsurance recoverables 810 2,883 (43,657) Net loss and LAE incurred $ 68,940 $ 79,347 $ 94,701 Catastrophic coverage NLC’s liabilities for losses and LAE include liabilities for reported losses, liabilities for IBNR losses and liabilities for LAE less a reduction for reinsurance recoverables related to those liabilities. The amount of liabilities for reported claims is based primarily on a claim-by-claim evaluation of coverage, liability, injury severity or scope of property damage, and any other information considered relevant to estimating exposure presented by the claim. The amounts of liabilities for IBNR losses and LAE are estimated on the basis of historical trends, adjusted for changes in loss costs, underwriting standards, policy provisions, product mix and other factors. Estimating the liability for unpaid losses and LAE is inherently judgmental and is influenced by factors that are subject to significant variation. Liabilities for LAE are intended to cover the ultimate cost of settling claims, including investigation and defense of lawsuits resulting from such claims. Based upon the contractual terms of the reinsurance agreements, reinsurance recoverables offset, in part, NLC’s gross liabilities. Effective July 1, 2019, NLC renewed its catastrophic excess of loss reinsurance coverage for a one year-period. At December 31, 2019, NLC had catastrophic excess of loss reinsurance coverage of losses per event in excess of $8 million retention by NLIC and $2 million retention by ASIC. ASIC maintained an underlying layer of coverage, providing $6 million of reinsurance coverage in excess of its $2 million retention to bridge to the primary program. The reinsurance for NLIC and ASIC in excess of $8 million is comprised of three layers of protection: $12 million in excess of $8 million retention and/or loss; $25 million in excess of $20 million loss; and $50 million in excess of $45 million loss. NLIC and ASIC retain no participation in any of the layers, beyond the first $8 million and $2 million, respectively. At December 31, 2019, total retention for any one catastrophe that affects both NLIC and ASIC was limited to $8 million in the aggregate. NLC did not renew its underlying excess of loss contract that provides $10.0 million aggregate coverage in excess of NLC’s per event retention of $1.0 million and aggregate retention of $15.0 million for sub-catastrophic events through December 31, 2019. During 2019, NLC retained 37.5% participation in this coverage. During 2017, NLC experienced losses related to Hurricane Harvey in excess of retention. As of December 31, 2019, the total gross losses and LAE incurred associated with Hurricane Harvey was $16.0 million. However, because the losses exceeded retention, net exposure to NLC was $5.2 million retention and $1.5 million in reinstatement premiums. During 2019 and 2018, NLC experienced no significant catastrophes that resulted in losses in excess of retention at NLIC or ASIC. There were 9 tornado, hail, monsoon and wind storms during 2019 that fit the coverage criteria for the underlying excess of loss contract providing aggregate coverage for sub-catastrophic events. These events had a gross incurred loss total of $19.5 million. During 2018, the 11 tornado, hail, monsoon and wind storms that exceeded retention had incurred losses of $21.2 million, which had no reinsured recoverable amount at the 82.5% subscription level. During 2017, the 14 tornado, hail and wind storms that exceeded retention had incurred losses of $33.3 million, which developed a reinsured recoverable of $1.8 million at the 100% subscription level. These losses have no effect on net loss and LAE incurred beyond retention because the catastrophic events exceeded retention levels and are fully recoverable. Any losses beyond the reinsurance coverage limits of $10.0 million for 2017 are retained by the Company and have an effect on the net loss and LAE incurred. The primary financial effect beyond the reinsurance retention is additional reinstatement premiums payable to the affected reinsurers. In addition to the $1.5 million in reinstatement premiums noted above related to Hurricane Harvey in 2017, reinstatement premiums during 2019, 2018 and 2017 of $0.5 million, $(0.1) million and $1.4 million, respectively, were recorded as ceded premiums.

Segment and Related Information

Segment and Related Information	12 Months Ended
Segment and Related Information	Dec. 31, 2019
Segment and Related Information
Segment and Related Information	31. Segment and Related Information The Company currently has four reportable business segments that are organized primarily by the core products offered to the segments’ respective customers. These segments reflect the manner in which operations are managed and the criteria used by the chief operating decision maker, the Company’s President and Chief Executive Officer, to evaluate segment performance, develop strategy and allocate resources. The banking segment includes the operations of the Bank, and since August 1, 2018, the operations acquired in the BORO Acquisition. The broker-dealer segment includes the operations of Securities Holdings, the mortgage origination segment is composed of PrimeLending, and the insurance segment is composed of NLC. Corporate includes certain activities not allocated to specific business segments. These activities include holding company financing and investing activities, merchant banking investment opportunities and management and administrative services to support the overall operations of the Company. Balance sheet amounts not discussed previously and the elimination of intercompany transactions are included in “All Other and Eliminations.” The following tables present certain information about reportable business segment revenues, operating results, goodwill and assets (in thousands). Mortgage All Other and Hilltop Year Ended December 31, 2019 Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated Net interest income (expense) $ 379,258 $ 51,308 $ (6,273) $ 2,329 $ (5,541) $ 20,225 $ 441,306 Provision (recovery) for loan losses 7,280 (74) — — — — 7,206 Noninterest income 41,753 404,411 634,992 143,082 2,221 (20,443) 1,206,016 Noninterest expense 231,524 366,031 563,998 127,920 50,968 (634) 1,339,807 Income (loss) before income taxes $ 182,207 $ 89,762 $ 64,721 $ 17,491 $ (54,288) $ 416 $ 300,309 Mortgage All Other and Hilltop Year Ended December 31, 2018 Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated Net interest income (expense) $ 370,732 $ 50,878 $ 1,485 $ 3,025 $ (9,176) $ 19,380 $ 436,324 Provision (recovery) for loan losses 5,319 (231) — — — — 5,088 Noninterest income 43,588 301,714 551,860 142,565 4,893 (21,830) 1,022,790 Noninterest expense 256,577 320,241 540,474 139,921 36,628 (592) 1,293,249 Income (loss) before income taxes $ 152,424 $ 32,582 $ 12,871 $ 5,669 $ (40,911) $ (1,858) $ 160,777 Mortgage All Other and Hilltop Year Ended December 31, 2017 Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated Net interest income (expense) $ 366,581 $ 43,735 $ (915) $ 2,861 $ (10,069) $ 19,555 $ 421,748 Provision (recovery) for loan losses 14,073 198 — — — — 14,271 Noninterest income 59,904 368,421 632,388 151,382 12,798 (19,829) 1,205,064 Noninterest expense 248,404 347,314 581,899 158,354 33,983 (699) 1,369,255 Income (loss) before income taxes $ 164,008 $ 64,644 $ 49,574 $ (4,111) $ (31,254) $ 425 $ 243,286 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated December 31, 2019 Goodwill $ 247,368 $ 7,008 $ 13,071 $ 23,988 $ — $ — $ 291,435 Total assets $ 11,147,344 $ 3,457,068 $ 2,357,415 $ 254,639 $ 2,393,604 $ (4,437,622) $ 15,172,448 December 31, 2018 Goodwill $ 247,368 $ 7,008 $ 13,071 $ 23,988 $ — $ — $ 291,435 Total assets $ 10,004,971 $ 3,213,115 $ 1,627,134 $ 253,513 $ 2,243,182 $ (3,658,343) $ 13,683,572

Earnings per Common Share

Earnings per Common Share	12 Months Ended
Earnings per Common Share	Dec. 31, 2019
Earnings per Common Share
Earnings per Common Share	32. Earnings per Common Share The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). Year Ended December 31, 2019 2018 2017 Basic earnings per share: Income attributable to Hilltop $ 225,291 $ 121,441 $ 132,544 Weighted average shares outstanding - basic 92,345 94,969 97,137 Basic earnings per common share $ 2.44 $ 1.28 $ 1.36 Diluted earnings per share: Income attributable to Hilltop $ 225,291 $ 121,441 $ 132,544 Weighted average shares outstanding - basic 92,345 94,969 97,137 Effect of potentially dilutive securities 49 98 216 Weighted average shares outstanding - diluted 92,394 95,067 97,353 Diluted earnings per common share $ 2.44 $ 1.28 $ 1.36

Financial Statements of Parent

Financial Statements of Parent	12 Months Ended
Financial Statements of Parent	Dec. 31, 2019
Financial Statements of Parent
Financial Statements of Parent	33. Financial Statements of Parent The following tables present the condensed combined financial statements of the Company’s bank holding company entities, Hilltop and PCC. The tables also include the corporate activities associated with Hilltop Opportunity Partners LLC and the Hilltop Plaza Entities (in thousands). Investments in subsidiaries are determined using the equity method of accounting. Condensed Combined Statements of Operations and Comprehensive Income Year Ended December 31, 2019 2018 2017 Dividends from bank subsidiaries $ 143,000 $ 42,000 $ 53,000 Dividends from nonbank subsidiaries 36,950 37,500 41,500 Investment income 5,933 3,089 312 Interest expense 11,474 12,265 10,381 Other income 2,221 4,893 12,798 General and administrative expense 50,968 36,628 33,983 Income before income taxes and equity in undistributed earnings of subsidiaries activity 125,662 38,589 63,246 Income tax benefit (12,706) (7,767) (15,577) Equity in undistributed earnings of subsidiaries 94,609 79,371 54,321 Net income $ 232,977 $ 125,727 $ 133,144 Other comprehensive income (loss), net 20,046 (5,656) (879) Comprehensive income $ 253,023 $ 120,071 $ 132,265 Condensed Combined Balance Sheets December 31, 2019 2018 2017 Assets: Cash and cash equivalents $ 116,471 $ 54,405 $ 96,764 Investment in subsidiaries: Bank subsidiaries 1,523,549 1,459,984 1,340,093 Nonbank subsidiaries 533,844 483,593 603,631 Other assets 219,740 245,200 66,490 Total assets $ 2,393,604 $ 2,243,182 $ 2,106,978 Liabilities and Stockholders’ Equity: Accounts payable and accrued expenses $ 53,418 $ 58,319 $ 46,442 Notes payable 215,780 215,620 148,455 Stockholders’ equity 2,124,406 1,969,243 1,912,081 Total liabilities and stockholders’ equity $ 2,393,604 $ 2,243,182 $ 2,106,978 Condensed Combined Statements of Cash Flows Year Ended December 31, 2019 2018 2017 Operating Activities: Net income $ 232,977 $ 125,727 $ 133,144 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (94,609) (79,371) (54,321) Net realized gains on equity investments — (5,336) — Deferred income taxes (123) 217 2,511 Other, net 44,943 19,368 (57,380) Net cash provided by operating activities 183,188 60,605 23,954 Investing Activities: Capital contribution to bank and bank holding company subsidiaries — — (10,000) Purchases of equity investments — (12,492) — Purchases of premises and equipment and other (17,302) (42,390) (4,241) Proceeds from sales of equity investments — 16,174 — Net cash used in investing activities (17,302) (38,708) (14,241) Financing Activities: Payments to repurchase common stock (73,385) (58,990) (27,388) Dividends paid on common stock (29,627) (26,698) (23,140) Net cash contributed from noncontrolling interest 100 19,250 — Other, net (908) 2,182 19,289 Net cash used in financing activities (103,820) (64,256) (31,239) Net change in cash, cash equivalents and restricted cash 62,066 (42,359) (21,526) Cash, cash equivalents and restricted cash, beginning of year 54,405 96,764 118,290 Cash, cash equivalents and restricted cash, end of year $ 116,471 $ 54,405 $ 96,764 Supplemental Schedule of Non-Cash Activities: Construction in progress related to build-to-suit lease obligations $ — $ 27,802 $ — Note receivable contributed from nonbank subsidiary $ — $ 111,653 $ —

Recently Issued Accounting Stan

Recently Issued Accounting Standards	12 Months Ended
Recently Issued Accounting Standards	Dec. 31, 2019
Recently Issued Accounting Standards
Recently Issued Accounting Standards	34. Recently Issued Accounting Standards Accounting Standards Adopted During 2019 In July 2018, FASB issued ASU 2018-09 which clarifies, corrects and makes minor improvements to a wide variety of topics in the ASC. The amendments make the ASC easier to understand and apply by eliminating inconsistencies and providing clarifications. The transition and effective dates are based on the facts and circumstances of each amendment, with some amendments becoming effective upon issuance of the ASU, and others becoming effective for annual periods beginning after December 15, 2018. The Company adopted the amendments as of January 1, 2019, which did not have a material effect on the Company’s consolidated financial statements. In August 2017, FASB issued ASU 2017-12 which provides targeted improvements to accounting for hedging activities. The FASB has issued various updates, improvements and technical corrections since the issuance of ASU 2017-12. The purpose of the amendment is to better align a company’s risk management activities with its financial reporting for hedging relationships, to simplify the hedge accounting requirements and to improve the disclosures of hedging arrangements. The amendment is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company adopted the standard on January 1, 2019. The Company has not historically applied hedge accounting to its derivative transactions, so the provisions of the amendment did not have a material effect on the Company’s consolidated financial statements. In February 2016, FASB issued the Leasing Standard, which is codified in ASC 842, Leases Accounting Standards Issued But Not Yet Adopted In December 2019, FASB issued ASU 2019-12 which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the ASC and is intended to improve consistency by clarifying and amending existing guidance. The amendments are effective for annual periods beginning after December 15, 2020. As permitted within the amendment, the Company elected to early adopt and prospectively apply the provisions of this amendment as of January 1, 2020. The removal of the exceptions did not result in a material change in the Company’s current or deferred income tax provisions and are not expected to have a material impact on the Company’s future consolidated financial statements. In August 2018, FASB issued ASU 2018-15 which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software licenses). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. The amendment also includes presentation and disclosure provisions regarding capitalized implementation costs. The amendment is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019. The Company adopted the provisions of this amendment as of January 1, 2020. The impact of this amendment is limited to presentation and disclosure changes that are not expected to have an impact on the Company’s future consolidated financial statements. In August 2018, FASB issued ASU 2018-13 which includes various removals, modifications and additions to existing guidance regarding fair value disclosures. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019. The Company adopted the provisions of these amendments as of January 1, 2020. The impact of these amendments is limited to presentation and disclosure changes that are not expected to have an impact on the Company’s future consolidated financial statements. In June 2016, FASB issued ASU 2016-13 which sets forth a “current expected credit loss” (CECL) model that requires entities to measure all credit losses expected over the life of an exposure (or pool of exposures) for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The FASB has issued various updates, improvements and technical corrections to the standard since the issuance of ASU 2016-13. The new standard, which is codified in ASC 326, Financial Instruments – Credit Losses

Selected Quarterly Financial In

Selected Quarterly Financial Information (Unaudited)	12 Months Ended
Selected Quarterly Financial Information (Unaudited)	Dec. 31, 2019
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Information (Unaudited)	35 Selected Quarterly Financial Information (Unaudited) Selected quarterly financial information is summarized as follows (in thousands, except per share data). Year Ended December 31, 2019 Fourth Third Second First Full Quarter Quarter Quarter Quarter Year Interest income $ 152,777 $ 161,956 $ 150,056 $ 150,040 $ 614,829 Interest expense 41,490 48,744 42,180 41,109 173,523 Net interest income 111,287 113,212 107,876 108,931 441,306 Provision (recovery) for loan losses 6,880 47 (672) 951 7,206 Noninterest income 299,276 341,401 312,871 252,468 1,206,016 Noninterest expense 336,936 350,109 343,677 309,085 1,339,807 Income before income taxes 66,747 104,457 77,742 51,363 300,309 Income tax expense 15,045 22,750 17,951 11,586 67,332 Net income 51,702 81,707 59,791 39,777 232,977 Less: Net income attributable to noncontrolling interest 2,426 2,289 1,980 991 7,686 Income attributable to Hilltop $ 49,276 $ 79,418 $ 57,811 $ 38,786 $ 225,291 Earnings per common share: Basic $ 0.54 $ 0.87 $ 0.62 $ 0.41 $ 2.44 Diluted $ 0.54 $ 0.86 $ 0.62 $ 0.41 $ 2.44 Cash dividends declared per common share $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.32 Year Ended December 31, 2018 Fourth Third Second First Full Quarter Quarter Quarter Quarter Year Interest income $ 157,702 $ 148,326 $ 140,040 $ 133,360 $ 579,428 Interest expense 39,987 37,985 35,192 29,940 143,104 Net interest income 117,715 110,341 104,848 103,420 436,324 Provision for loan losses 6,926 (371) 340 (1,807) 5,088 Noninterest income 238,516 269,697 279,434 235,143 1,022,790 Noninterest expense 310,819 335,711 338,517 308,202 1,293,249 Income before income taxes 38,486 44,698 45,425 32,168 160,777 Income tax expense 8,928 7,600 11,034 7,488 35,050 Net income 29,558 37,098 34,391 24,680 125,727 Less: Net income attributable to noncontrolling interest 1,443 1,293 1,311 239 4,286 Income attributable to Hilltop $ 28,115 $ 35,805 $ 33,080 $ 24,441 $ 121,441 Earnings per common share: Basic $ 0.30 $ 0.38 $ 0.35 $ 0.25 $ 1.28 Diluted $ 0.30 $ 0.38 $ 0.35 $ 0.25 $ 1.28 Cash dividends declared per common share $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.28

Subsequent Event

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2019
Subsequent Event
Subsequent Event	36. Subsequent Event On January 30, 2020, Hilltop entered into an agreement to sell all of the outstanding capital stock of NLC, which comprises the operations of the insurance segment, for a cash purchase price of $150.0 million, subject to post-closing adjustments. Consummation of the transaction is

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting and Reporting Policies
Nature of Operations	Nature of Operations Hilltop Holdings Inc. (“Hilltop” and, collectively with its subsidiaries, the “Company”) is a financial holding company registered under the Bank Holding Company Act of 1956. The Company’s primary line of business is to provide business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the “Bank”). In addition, the Company provides an array of financial products and services through its broker-dealer, mortgage origination and insurance subsidiaries. The Company, headquartered in Dallas, Texas, provides its products and services through three primary business units, PlainsCapital Corporation (“PCC”), Hilltop Securities Holdings LLC (“Securities Holdings”) and National Lloyds Corporation (“NLC”). PCC is a financial holding company, that provides, through its subsidiaries, traditional banking, wealth and investment management and treasury management services primarily in Texas and residential mortgage lending throughout the United States. Securities Holdings is a holding company, that provides, through its subsidiaries, investment banking and other related financial services, including municipal advisory, sales, trading and underwriting of taxable and tax-exempt fixed income securities, equity trading, clearing, securities lending, structured finance and retail brokerage services throughout the United States. NLC is a property and casualty insurance holding company that provides, through its subsidiaries, fire and homeowners insurance to low value dwellings and manufactured homes primarily in Texas and other areas of the southern United States.
Basis of Presentation	Basis of Presentation Hilltop owns 100% of the outstanding stock of PCC. PCC owns 100% of the outstanding stock of the Bank and 100% of the membership interest in Hilltop Opportunity Partners LLC, a merchant bank utilized to facilitate investments in companies engaged in non-financial activities. The Bank owns 100% of the outstanding stock of PrimeLending, a PlainsCapital Company (“PrimeLending”). PrimeLending owns a 100% membership interest in PrimeLending Ventures Management, LLC (“Ventures Management”), which holds an ownership interest in and is the managing member of certain affiliated business arrangements (“ABAs”). PCC also owns 100% of the outstanding common securities of PCC Statutory Trusts I, II, III and IV (the “Trusts”), which are not included in the consolidated financial statements under the requirements of the Variable Interest Entities (“VIE”) Subsections of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), because the primary beneficiaries of the Trusts are not within the consolidated group. Hilltop has a 100% membership interest in Securities Holdings, which operates through its wholly-owned subsidiaries, Hilltop Securities Inc. (“Hilltop Securities”), Hilltop Securities Independent Network (“HTS Independent Network”) (collectively, the “Hilltop Broker-Dealers”) and Hilltop Securities Asset Management, LLC. Hilltop Securities is a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and FINRA and a member of the New York Stock Exchange (“NYSE”), HTS Independent Network is an introducing broker-dealer that is also registered with the SEC and FINRA, and Hilltop Securities Asset Management, LLC, is a registered investment adviser under the Investment Advisers Act of 1940. Hilltop also owns 100% of NLC, which operates through its wholly owned subsidiaries, National Lloyds Insurance Company (“NLIC”) and American Summit Insurance Company (“ASIC”). In addition, Hilltop owns 100% of the membership interest in each of HTH Hillcrest Project LLC (“HTH Project LLC”) and Hilltop Investments I, LLC The consolidated financial statements include the accounts of the above-named entities. Intercompany transactions and balances have been eliminated. Noncontrolling interests have been recorded for minority ownership in entities that are not wholly owned and are presented in compliance with the provisions of Noncontrolling Interest in Subsidiary Subsections of the ASC. Certain reclassifications have been made to the prior period consolidated financial statements to conform with the current period presentation, including reclassifications due to the adoption of new accounting pronouncements. In preparing these consolidated financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all stockholders and other financial statement users, or filed with the SEC.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates regarding the allowance for loan losses, the fair values of financial instruments, reserves for losses and loss adjustment expenses (“LAE”), the mortgage loan indemnification liability, and the potential impairment of assets are particularly subject to change. The Company has applied its critical accounting policies and estimation methods consistently in all periods presented in these consolidated financial statements.
Acquisition Accounting	Acquisition Accounting Acquisitions are accounted for under the acquisition method of accounting. Purchased assets, including identifiable intangible assets, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a bargain purchase gain is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized.
Securities Purchased Under Agreements to Resell	Securities Purchased Under Agreements to Resell Securities purchased under agreements to resell (reverse repurchase agreements or reverse repos) are treated as collateralized financings and are carried at the amounts at which the securities will subsequently be resold as specified in the agreements. The Company is in possession of collateral with a fair value equal to or in excess of the contract amounts.
Securities	Securities Management classifies securities at the time of purchase and reassesses such designation at each balance sheet date. Securities held for resale to facilitate principal transactions with customers are classified as trading and are carried at fair value, with changes in fair value reflected in the consolidated statements of operations. Hilltop reports interest income on trading securities as interest income on securities and other changes in fair value as other noninterest income. Debt securities held but not intended to be held to maturity or on a long-term basis are classified as available for sale. Securities included in this category are those that management intends to use as part of its asset/liability management strategy and that may be sold in response to changes in interest rates, prepayment risk or other factors related to interest rate and prepayment risk. Debt securities available for sale are carried at fair value. Unrealized holding gains and losses on debt securities available for sale, net of taxes, are reported in other comprehensive income (loss) until realized. Premiums and discounts are recognized in interest income using the effective interest method and reflect any optionality that may be embedded in the security. Equity securities are carried at fair value, with changes in fair value reflected in the consolidated statements of operations. Equity securities that do not have readily determinable fair values are initially recorded at cost and subsequently remeasured when there is (i) an observable transaction involving the same investment, (ii) an observable transaction involving a similar investment from the same issuer or (iii) an impairment. These remeasurements are reflected in the consolidated statements of operations. Purchases and sales (and related gain or loss) of securities are recorded on the trade date, based on specific identification. Declines in the fair value of available-for-sale debt securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the other-than-temporary impairment (“OTTI”) is related to credit losses. The amount of the OTTI related to other factors is recognized in other comprehensive income (loss). In estimating cash flows related to these securities, management primarily considers, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) the historic and implied volatility of the security, (iv) failure of the issuer to make scheduled interest payments and (v) changes to the rating of the security by a rating agency.
Loans Held for Sale	Loans Held for Sale Loans held for sale consist primarily of single-family residential mortgages funded through PrimeLending. These loans are generally on the consolidated balance sheet between 30 and 45 days. Substantially all mortgage loans originated by PrimeLending are sold to various investors in the secondary market, the majority with servicing released. Mortgage loans held for sale are carried at fair value in accordance with the provisions of the Fair Value Option Subsections of the ASC (the “Fair Value Option”). Changes in the fair value of the loans held for sale are recognized in earnings and fees and costs associated with origination are recognized as incurred. The specific identification method is used to determine realized gains and losses on sales of loans, which are reported as net gains (losses) in noninterest income. Loans sold are subject to certain indemnification provisions with investors, including the repurchase of loans sold and repayment of certain sales proceeds to investors under certain conditions. In addition, certain mortgage loans guaranteed by U.S. Government agencies and sold into Government National Mortgage Association (“GNMA”) pools may, under certain conditions specified in the government programs, become subject to repurchase by PrimeLending. When such loans subject to repurchase no longer qualify for sale accounting, they are reported as loans held for sale in the consolidated balance sheets.
Loans Held for Investment	Loans Held for Investment Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the amount of unpaid principal reduced by unearned income, net unamortized deferred fees and an allowance for loan losses. Unearned income on installment loans and interest on other loans is recognized using the effective interest method. Net fees received for providing loan commitments and letters of credit that result in loans are deferred and amortized to interest income over the life of the related loan, beginning with the initial borrowing. Net fees on commitments and letters of credit that are not expected to be funded are amortized to noninterest income over the commitment period. Income on direct financing leases is recognized on a basis that achieves a constant periodic rate of return on the outstanding investment. Impaired loans include non-accrual loans, troubled debt restructurings, purchased credit impaired (“PCI”) loans and partially charged-off loans. The accrual of interest on impaired loans is discontinued when, in management’s opinion, there is a clear indication that the borrower’s cash flow may not be sufficient to meet principal and interest payments, which is generally when a loan is 90 days past due unless the asset is both well secured and in the process of collection. When a loan is placed on non-accrual status, all previously accrued and unpaid interest is charged against income. If the ultimate collectability of principal, wholly or partially, is in doubt, any payment received on a loan on which the accrual of interest has been suspended is applied to reduce principal to the extent necessary to eliminate such doubt. Once the collection of the remaining recorded loan balance is fully expected, interest income is recognized on a cash basis. Management has defined the loans acquired in a business combination as acquired loans. Acquired loans are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. At acquisition, acquired loans are segregated between those considered to be credit impaired and those without credit impairment at acquisition. To make this determination, management considered such factors as past due status, non-accrual status and credit risk ratings. The fair value of acquired performing loans was determined by discounting expected cash flows, both principal and interest, at prevailing market interest rates. The difference between the fair value and principal balances due at acquisition date, the fair value discount, is accreted into income over the estimated life of each loan. Loans acquired in the Federal Deposit Insurance Corporation (“FDIC”) -assisted transaction whereby the Bank acquired certain assets and assumed certain liabilities of Edinburg, Texas-based First National Bank (“FNB”) on September 13, 2013 (the “FNB Transaction”) were previously subject to loss-share agreements with the FDIC. At the close of business on September 30, 2018, the loss-share agreements for commercial assets with the FDIC expired, except for certain obligations on the part of the Bank that survived. On October 17, 2018, the Bank and the FDIC entered into a Termination Agreement pursuant to which all rights and obligations of the Bank and the FDIC under the FDIC loss-share agreements were resolved and terminated. Accordingly, loans which were previously referred to as either “covered loans” if covered by the loss-share agreements or otherwise “non-covered loans” are now collectively referred to as “loans held for investment.” PCI loans acquired by the Company are accounted for either on an individual loan basis or in pools. The Company has established under its PCI accounting policy a framework to aggregate certain acquired loans into various loan pools based on a minimum of two layers of similar risk characteristics for the purpose of determining their respective fair values as of their acquisition dates, and for applying the subsequent recognition and measurement provisions for income accretion and impairment testing. The similar risk characteristics used for the pooling of PCI loans are risk grade and loan collateral type. PCI loans show evidence of credit deterioration that make it probable that not all contractually required principal and interest payments will be collected. Their fair value was initially based on an estimate of cash flows, both principal and interest, expected to be collected, discounted at prevailing market rates of interest. Management estimates cash flows using key assumptions such as default rates, loss severity rates assuming default, prepayment speeds and estimated collateral values. The excess of cash flows expected to be collected from a loan or pool over its estimated fair value at acquisition is referred to as accretable yield and is recognized in interest income using an effective yield method over the remaining life of the loan or pool. The excess of total contractual cash flows over the cash flows expected to be received at acquisition is referred to as the nonaccretable difference. Subsequent to acquisition, management must update these estimates of cash flows expected to be collected at each reporting date. These updates require the continued use of key assumptions and estimates, similar to those used in the initial estimate of fair value. The Bank accretes the discount for PCI loans for which it can predict the timing and amount of cash flows. PCI loans for which a discount is accreted are reported as performing loans.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is a reserve established through a provision for loan losses charged to or recovered from expense, which represents management’s best estimate of probable losses inherent in the existing portfolio of loans at the balance sheet date. The allowance for loan losses includes allowance allocations calculated in accordance with the regulatory Interagency Policy Statement on the Allowance for Loan and Lease Losses and the Receivables and Contingencies Topics of the ASC. The Bank’s allowance for loan losses consists of three elements: (i) specific valuation allowances established for probable losses on individually impaired loans; (ii) general historical valuation allowances calculated based on historical loan loss experience for homogenous loans with similar collateral; and (iii) valuation allowances to adjust general reserves based on current economic conditions and other qualitative risk factors, including projected loss emergence period, both internal and external to the Bank. The Bank’s methodology regarding the calculation of the allowance for loan losses is discussed in more detail within Note 5 to the consolidated financial statements.
Broker-Dealer and Clearing Organization Transactions	Broker-Dealer and Clearing Organization Transactions Amounts recorded in broker-dealer and clearing organization receivables and payables include securities lending activities, as well as amounts related to securities transactions for either customers of the Hilltop Broker-Dealers or for the accounts of the Hilltop Broker-Dealers. Securities borrowed and securities loaned transactions are generally reported as collateralized financings. Securities borrowed transactions require the Hilltop Broker-Dealers to deposit cash, letters of credit, or other collateral with the lender. With respect to securities loaned, the Hilltop Broker-Dealers receive collateral in the form of cash or other assets in an amount generally in excess of the market value of securities loaned. The Hilltop Broker-Dealers monitor the market value of securities borrowed and loaned on a daily basis, with additional collateral obtained or refunded as necessary. Interest income and interest expense associated with collateralized financings is included in the accompanying consolidated statements of operations.
Insurance Premiums Receivable	Insurance Premiums Receivable Insurance premiums receivable include premiums written and not yet collected. NLC routinely evaluates the receivable balance to determine if an allowance for uncollectible amounts is necessary. At December 31, 2019, the valuation allowance for premiums receivable was $0.4 million, while at December 31, 2018, NLC determined that no valuation allowance was necessary.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs Costs of acquiring insurance vary with, and are primarily related to, the successful acquisition of new and renewal business. These costs primarily consist of commissions, premium taxes and underwriting expenses, and are deferred and amortized over the terms of the policies or reinsurance treaties to which they relate. Proceeds from reinsurance transactions that represent recovery of acquisition costs reduce applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. Future investment income is considered in determining the recoverability of deferred policy acquisition costs. NLC regularly reviews the categories of acquisition costs that are deferred and assesses the recoverability of this asset. A premium deficiency and a corresponding charge to income is recognized if the sum of the expected loss and LAE, unamortized policy acquisition costs, and maintenance costs exceed related unearned insurance premiums and anticipated investment income. At December 31, 2019 and 2018, there was no premium deficiency.
Reinsurance	Reinsurance In the normal course of business, NLC seeks to reduce the loss that may arise from catastrophes or other events that could cause unfavorable underwriting results by reinsuring certain levels of risk in various areas of exposure with other insurance enterprises or reinsurers. Amounts recoverable from reinsurers are estimated in a manner consistent with the reinsured policy. NLC routinely evaluates the receivable balance to determine if any uncollectible balances exist. Net insurance premiums earned, losses and LAE, and policy acquisition and other underwriting expenses are reported net of the amounts related to reinsurance ceded to other companies. Amounts recoverable from reinsurers related to the portions of the liability for losses and LAE and unearned insurance premiums ceded to them are included in other assets within the consolidated balance sheets. Reinsurance assumed from other companies, including assumed premiums written and earned, and losses and LAE, is accounted for in the same manner as direct insurance written.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization computed principally on the straight-line method over the estimated useful lives of the assets, which range between 3 and 40 years. Gains or losses on disposals of premises and equipment are included in results of operations.
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases with a term of greater than one year are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the Company’s consolidated balance sheets. Finance leases are included in premises and equipment and other liabilities on the Company’s consolidated balance sheets. The Company has lease agreements with lease and nonlease components, which are generally accounted for as a single lease component. Leases of low-value assets are assessed on a lease-by-lease basis to determine the need for balance sheet capitalization. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate commensurate with the lease term based on the information available at the lease commencement date in determining the present value of lease payments. No significant judgments or assumptions were involved in developing the estimated operating lease liabilities as the Company’s operating lease liabilities largely represent the future rental expenses associated with operating leases, and the incremental borrowing rates are based on publicly available interest rates. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease. These options to extend or terminate are assessed on a lease-by-lease basis, and the ROU assets and lease liabilities are adjusted when it is reasonably certain that an option will be exercised. Rental expense for lease payments is recognized on a straight-line basis over the lease term and is included in occupancy and equipment, net within our consolidated statements of operations.
Other Real Estate Owned	Other Real Estate Owned Real estate acquired through foreclosure (“OREO”) is included in other assets within the consolidated balance sheets and is carried at management’s estimate of fair value, less estimated cost to sell. Any excess of recorded investment over fair value, less cost to sell, is charged against either the allowance for loan losses or the related PCI pool discount when property is initially transferred to OREO. Subsequent to the initial transfer to OREO, downward valuation adjustments are charged against earnings. Valuation adjustments, revenue and expenses from operations of the properties and resulting gains or losses on sale are included within the consolidated statements of operations in other noninterest income or expense, as appropriate. Prior to the termination of the FDIC loss-share agreements, acquired OREO previously subject to FDIC loss-share agreements was referred to as “covered OREO” and reported separately in the consolidated balance sheets. Covered OREO was reported exclusive of expected reimbursement cash flows from the FDIC. Foreclosed covered loan collateral was transferred into covered OREO at the collateral’s fair value, less selling costs. Covered OREO was initially recorded at its estimated fair value based on similar market comparable valuations, less estimated selling costs. Subsequently, loan collateral transferred to OREO was recorded at its net realizable value. Any subsequent valuation adjustments due to declines in fair value of the covered OREO were charged to noninterest expense, while any recoveries of previous valuation decreases were credited to noninterest expense. Subsequent to the termination of the loss-share agreements, OREO which was previously referred to as “covered OREO” if covered by the loss-share agreements or otherwise “non-covered OREO” is now collectively referred to as OREO.
FDIC Indemnification Asset	FDIC Indemnification Asset As previously discussed, the loss-share agreements with the FDIC entered into in connection with the FNB Transaction were terminated in the fourth quarter of 2018. Subsequent to the termination of the loss-share agreements and the receipt of payment from the FDIC, the remaining balance of the amounts receivable from the FDIC under the loss-share agreements (the “FDIC Indemnification Asset”) was removed from the consolidated balance sheets. The balance of the FDIC Indemnification Asset as of December 31, 2017, is included in other assets within the consolidated balance sheets. Prior to the termination of the loss-share agreements, the Company accounted for the FDIC Indemnification Asset in accordance with the Business Combination Topic of the ASC. The FDIC Indemnification Asset was initially recorded at fair value, based on the discounted value of expected future cash flows under the loss-share agreements. The difference between the present value and the undiscounted cash flows the Bank expected to collect from the FDIC was accreted into noninterest income or amortized into noninterest expense within the consolidated statements of operations over the life of the FDIC Indemnification Asset.
Debt Issuance Costs	Debt Issuance Costs The Company capitalizes debt issuance costs associated with financing of debt. These costs are amortized using the effective interest method over the repayment term of the debt. Unamortized debt issuance costs are presented in the consolidated balance sheets as a direct reduction from the associated debt liability. Debt issuance costs of $0.2 million during 2019, $0.2 million during 2018, and $0.1 million during 2017 were amortized and included in interest expense within the consolidated statements of operations. In April 2015, debt issuance costs of $1.9 million were capitalized in connection with Hilltop’s issuance of the 5% senior notes due 2025.
Goodwill	Goodwill Goodwill, which represents the excess of cost over the fair value of the net assets acquired, is allocated to reporting units and tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount should be assessed. The Company performs required annual impairment tests of its goodwill as of October 1 st
Intangibles and Other Long-Lived Assets	Intangibles and Other Long-Lived Assets Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. The Company’s intangible assets primarily consist of core deposits, trade names and customer relationships. Intangible assets with definite useful lives are generally amortized on the straight-line method over their estimated lives, although certain intangibles, including core deposits, and customer and agent relationships, are amortized on an accelerated basis. Amortization of intangible assets is recorded in other noninterest expense within the consolidated statements of operations. Intangible assets with indefinite useful lives are tested for impairment on an annual basis as of October 1 st
Mortgage Servicing Rights	Mortgage Servicing Rights The Company determines its portfolio segment of residential mortgage servicing assets based on the asset type being serviced along with the methods used to manage the risk inherent in the servicing assets, which includes the market inputs used to value the servicing assets. The Company measures its servicing assets at fair value and reports changes in fair value through earnings. The retained mortgage servicing rights (“MSR”) asset is measured at fair value as of the date of sale of the related mortgage loan. Subsequent fair value measurements of the MSR asset are determined by valuing the projected net servicing cash flows, which are then discounted to estimate fair value using a discounted cash flow model. Assumptions used include market discount rates, anticipated prepayment speeds, delinquency and foreclosure rates, and ancillary fee income. The model assumptions and the MSR asset fair value estimates are compared to observable trades of similar portfolios as well as to MSR asset broker valuations and industry surveys, as available. The expected life of the loan can vary from management’s estimates due to prepayments by borrowers. The value of the MSR asset is also dependent upon the discount rate used in the model, which is based on current market rates that are reviewed by management on an ongoing basis.
Derivative Financial Instruments	Derivative Financial Instruments The Company enters into various derivative financial instruments to manage interest rate risk or to hedge specified assets and liabilities. The Company’s derivative financial instruments also include interest rate lock commitments (“IRLCs”) executed with its customers that allow those customers to obtain a mortgage loan on a future date at an agreed-upon interest rate. The IRLCs, forward commitments, interest rate swaps, U.S. Treasury bond futures and options and Eurodollar futures meet the definition of a derivative under the provisions of the Derivatives and Hedging Topic of the ASC. Derivatives are recorded at fair value in the consolidated balance sheets. To qualify for hedge accounting, derivatives must be highly effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the derivative contract. If derivative instruments are designated as hedges of fair values, the change in the fair value of both the derivative instrument and the hedged item are included in current earnings. Changes in the fair value of derivatives designated as hedges of cash flows are recorded in other comprehensive income (loss). Actual cash receipts and/or payments and related accruals on derivatives related to hedges are recorded as adjustments to the line item where the hedged item’s effect on earnings is recorded.
Revenue from Contracts with Customers	Revenue from Contracts with Customers Certain activities primarily within the Company’s broker-dealer and banking segments are subject to the provisions of ASC 606, Revenue from Contracts with Customers The Company’s banking segment has three primary lines of business: (i) business banking, (ii) personal banking and (iii) wealth and investment management. Revenue from contracts with customers subject to the guidance in ASC 606 from the banking segment (certain retail and trust fees) is included within the other noninterest income line item within the consolidated statements of operations. Retail and trust fees are generally recognized at the time the related transaction occurs or when services are completed. Fees are based on the dollar amount of the transaction or are otherwise predefined in contracts associated with each customer account depending on the type of account and services provided.
Reserve for Losses and Loss Adjustment Expenses	Reserve for Losses and Loss Adjustment Expenses The liability for losses and LAE includes an amount determined from loss reports and individual cases and an amount, based on past experience, for losses incurred but not reported (“IBNR”). Such liabilities are based on estimates and, while management believes that the amount is adequate, the ultimate liability may be in excess of or less than the amounts provided. The methods for making such estimates and for establishing the resulting liability are continually reviewed, and any adjustments are reflected in earnings currently. The liability for losses and LAE has not been reduced for reinsurance recoverable.
Loss Contingencies	Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense for all share-based awards granted is based on the grant date fair value estimated in accordance with the provisions of the Stock Compensation Topic of the ASC. The Company recognizes these compensation costs for only those awards expected to vest over the service period of the award.
Advertising	Advertising Advertising costs are expensed as incurred. Advertising expense totaled $3.6 million, $4.6 million and $4.7 million during 2019, 2018 and 2017, respectively.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recorded for the estimated future tax effects of the temporary difference between the tax basis and book basis of assets and liabilities reported in the accompanying consolidated balance sheets. The provision for income tax expense or benefit differs from the amounts of income taxes currently payable because certain items of income and expense included in the consolidated financial statements are recognized in different time periods by taxing authorities. Interest and penalties incurred related to tax matters are charged to other interest expense or other noninterest expense, respectively. The revaluation of deferred tax assets as a result of enacted tax rate changes, such as those found in the Tax Cuts and Jobs Act of 2017 (“Tax Legislation”), is recognized within income tax expense in continuing operations in the period of enactment. Benefits from uncertain tax positions are recognized in the consolidated financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority having full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of cumulative benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold are recognized in the reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold are derecognized in the reporting period in which that threshold is no longer met. If the Company were to prevail on all uncertain tax positions, the effect would be a benefit to the Company’s effective tax rate. Due to uncertainties in any tax audit outcome, estimates of the ultimate settlement of unrecognized tax positions may change and the actual tax benefits may differ significantly from the estimate. Deferred tax assets, including net operating loss and tax credit carry forwards, are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that any portion of these tax attributes will not be realized. Periodic reviews of the carrying amount of deferred tax assets are made when it is more likely than not that all or a portion of a deferred tax asset will not be realized.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash For the purpose of presentation in the consolidated statements of cash flows, cash, cash equivalents and restricted cash are defined as the amounts included in the consolidated balance sheet captions “Cash and due from banks”, “Federal funds sold” and “Assets segregated for regulatory purposes.” Cash equivalents have original maturities of three months or less.
Repurchases of Common Stock	Repurchases of Common Stock In accordance with Maryland law, the Company uses the par value method of accounting for its stock repurchases, whereby the par value of the shares is deducted from common stock. The excess of the cost of shares acquired over the par value is allocated to additional paid-in capital based on an estimated average sales price per issued share with the excess amounts charged to retained earnings.
Basic and Diluted Net Income Per Share	Basic and Diluted Net Income Per Share Nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are participating securities and are included in the computation of earnings per share pursuant to the two-class method prescribed by the Earnings Per Share Topic of the ASC. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Net earnings, less any preferred dividends accumulated for the period (whether or not declared), is allocated between the common stock and participating securities pursuant to the two-class method. Basic earnings per common share is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during the period, excluding participating nonvested restricted shares. The Company calculated basic earnings per common share using the treasury method instead of the two-class method because there were no instruments which qualified as participating securities during 2019, 2018 or 2017. Diluted earnings per common share is computed in a similar manner, except that first the denominator is increased to include the number of additional common shares that would have been outstanding if potentially dilutive common shares, excluding the participating securities, were issued using the treasury stock method. During 2019, 2018 and 2017, restricted stock units (“RSUs”) were the only potentially dilutive non-participating instruments issued by Hilltop. Next, the Company determines and includes in the diluted earnings per common share calculation the more dilutive effect of the participating securities using the treasury stock method or the two-class method. Undistributed losses are not allocated to the nonvested share-based payment awards (the participating securities) under the two-class method as the holders are not contractually obligated to share in the losses of the Company.

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
Acquisition (Tables)	Dec. 31, 2019
Acquisition
Summary of fair values of the identifiable assets acquired, and liabilities assumed	Cash and due from banks $ 21,756 Securities 60,477 Loans held for investment 326,618 Other assets 25,912 Total identifiable assets acquired 434,763 Deposits 376,393 Short-term borrowings 10,000 Other liabilities 2,996 Total liabilities assumed 389,389 Net identifiable assets acquired 45,374 Goodwill resulting from the acquisition 39,627 Net assets acquired $ 85,001
Schedule of loans acquired in business combination	The following table presents details on acquired loans at the acquisition date (in thousands). Loans, excluding PCI Total Loans Held PCI Loans Loans for Investment Commercial real estate $ 119,188 $ 5,350 $ 124,538 1 - 4 family residential 55,487 39 55,526 Construction and land development 37,134 — 37,134 Commercial and industrial 98,259 2,127 100,386 Consumer 9,021 13 9,034 Total $ 319,089 $ 7,529 $ 326,618
Schedule of PCI Loans at acquisition	The following table presents information about the PCI loans at acquisition (in thousands). Contractually required principal and interest payments $ 10,730 Nonaccretable difference 2,859 Cash flows expected to be collected 7,871 Accretable difference 342 Fair value of loans acquired with a deterioration of credit quality $ 7,529
Schedule of acquired loans without credit impairment	The following table presents information about the acquired loans without credit impairment at acquisition (in thousands). Contractually required principal and interest payments $ 381,551 Contractual cash flows not expected to be collected 15,286 Fair value at acquisition 319,089

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2019
Fair Value Measurements
Schedule of information regarding financial assets and liabilities measured at fair value on a recurring basis	The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). Level 1 Level 2 Level 3 Total December 31, 2019 Inputs Inputs Inputs Fair Value Trading securities $ — $ 689,576 $ — $ 689,576 Available for sale securities — 998,392 — 998,392 Equity securities 20,007 — — 20,007 Loans held for sale — 1,868,518 67,195 1,935,713 Derivative assets — 33,129 — 33,129 MSR asset — — 55,504 55,504 Securities sold, not yet purchased 29,080 14,737 — 43,817 Derivative liabilities — 17,140 — 17,140 Level 1 Level 2 Level 3 Total December 31, 2018 Inputs Inputs Inputs Fair Value Trading securities $ 7,947 $ 737,519 $ — $ 745,466 Available for sale securities — 875,658 — 875,658 Equity securities 19,679 — — 19,679 Loans held for sale — 1,207,311 50,464 1,257,775 Derivative assets — 35,010 — 35,010 MSR asset — — 66,102 66,102 Securities sold, not yet purchased 33,000 48,667 — 81,667 Derivative liabilities — 26,355 — 26,355
Rollforward for financial instruments measured at fair value using Level 3 inputs	The following table includes a rollforward for those financial instruments measured at fair value using Level 3 inputs (in thousands). Total Gains or Losses (Realized or Unrealized) Balance at Included in Other Beginning of Purchases/ Sales/ Transfers into Included in Comprehensive Balance at Year Additions Reductions Level 3 Net Income Income (Loss) End of Year Year ended December 31, 2019 Loans held for sale $ 50,464 $ 60,475 $ (34,849) $ 1,136 $ (10,031) $ — $ 67,195 MSR asset 66,102 13,755 — — (24,353) — 55,504 Total $ 116,566 $ 74,230 $ (34,849) $ 1,136 $ (34,384) $ — $ 122,699 Year ended December 31, 2018 Loans held for sale $ 36,972 $ 61,573 $ (41,801) — $ (6,280) $ — $ 50,464 MSR asset 54,714 25,028 (9,303) — (4,337) — 66,102 Total $ 91,686 $ 86,601 $ (51,104) $ — $ (10,617) $ — $ 116,566 Year ended December 31, 2017 Loans held for sale $ 35,801 $ 36,891 $ (26,773) $ — $ (8,947) $ — $ 36,972 MSR asset 61,968 16,401 (17,499) — (6,156) — 54,714 Total $ 97,769 $ 53,292 $ (44,272) $ — $ (15,103) $ — $ 91,686
Schedule of significant unobservable inputs used in the fair value measurements	For Level 3 financial instruments measured at fair value on a recurring basis at December 31, 2019 and 2018, the significant unobservable inputs used in the fair value measurements were as follows. Range (Weighted-Average) December 31, Financial instrument Valuation Technique Unobservable Inputs 2019 2018 Loans Discounted cash flows / Market comparable Projected price 92 - 96 % ( 95 %) 95 - 96 % ( 95 %) MSR asset Discounted cash flows Constant prepayment rate 13.16 % 10.51 % Discount rate 11.14 % 11.11 %
Schedule of changes in fair value for instruments reported at fair value under the Fair Value Option	The following table presents those changes in fair value of instruments recognized in the consolidated statements of operations that are accounted for under the Fair Value Option (in thousands). Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 Other Total Other Total Other Total Net Noninterest Changes in Net Noninterest Changes in Net Noninterest Changes in Gains (Losses) Income Fair Value Gains (Losses) Income Fair Value Gains (Losses) Income Fair Value Loans held for sale $ 12,775 $ — $ 12,775 $ (8,063) $ — $ (8,063) $ 10,655 $ — $ 10,655 MSR asset (24,353) — (24,353) (4,337) — (4,337) (6,156) — (6,156)
Schedule of significant unobservable inputs weighted average rates on Impaired Loans	Estimates for these significant unobservable inputs and the resulting weighted average expected loss on PCI loans were as follows. PCI Loans PlainsCapital FNB SWS BORO December 31, 2019 Merger Transaction Merger Acquisition Weighted average default rate 83 % 30 % 66 % 59 % Weighted average loss severity rate 59 % 12 % 28 % 42 % Weighted average prepayment speed 0 % 5 % 0 % 0 % Resulting weighted average expected loss on PCI loans 49 % 4 % 18 % 25 % PCI Loans PlainsCapital FNB SWS BORO December 31, 2018 Merger Transaction Merger Acquisition Weighted average default rate 81 % 34 % 71 % 63 % Weighted average loss severity rate 59 % 12 % 28 % 42 % Weighted average prepayment speed 0 % 6 % 0 % 0 % Resulting weighted average expected loss on PCI loans 48 % 4 % 20 % 26 %
Schedule of information regarding certain assets and liabilities measured at fair value on a non-recurring basis for which a change in fair value has been recorded during reporting periods subsequent to initial recognition	The following table presents information regarding certain assets and liabilities measured at fair value on a non-recurring basis for which a change in fair value has been recorded during reporting periods subsequent to initial recognition (in thousands). Total Gains (Losses) for the Level 1 Level 2 Level 3 Total Year Ended December 31, December 31, 2019 Inputs Inputs Inputs Fair Value 2019 2018 2017 Impaired loans held for investment $ — $ — $ 65,582 $ 65,582 $ (4,968) $ 2,481 $ (2,402) Other real estate owned — 11,560 — 11,560 (1,387) (2,757) (4,436)
Schedule of carrying values and estimated fair values of financial instruments	The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2019 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 485,353 $ 485,353 $ — $ — $ 485,353 Assets segregated for regulatory purposes 157,436 157,436 — — 157,436 Securities purchased under agreements to resell 59,031 — 59,031 — 59,031 Held to maturity securities 386,326 — 388,930 — 388,930 Loans held for sale 170,648 — 170,648 — 170,648 Loans held for investment, net 7,320,264 — 576,527 6,990,706 7,567,233 Broker-dealer and clearing organization receivables 1,780,280 — 1,780,280 — 1,780,280 Other assets 71,040 — 69,580 1,460 71,040 Financial liabilities: Deposits 9,032,214 — 9,032,496 — 9,032,496 Broker-dealer and clearing organization payables 1,605,518 — 1,605,518 — 1,605,518 Short-term borrowings 1,424,010 — 1,424,010 — 1,424,010 Debt 350,781 — 348,555 — 348,555 Other liabilities 8,473 — 8,473 — 8,473 Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2018 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 644,473 $ 644,473 $ — $ — $ 644,473 Assets segregated for regulatory purposes 133,993 133,993 — — 133,993 Securities purchased under agreements to resell 61,611 — 61,611 — 61,611 Held to maturity securities 351,012 — 341,124 — 341,124 Loans held for sale 135,471 — 135,471 — 135,471 Loans held for investment, net 6,870,972 — 578,363 6,445,810 7,024,173 Broker-dealer and clearing organization receivables 1,440,287 — 1,440,287 — 1,440,287 Other assets 69,720 — 68,573 1,147 69,720 Financial liabilities: Deposits 8,536,156 — 8,528,947 — 8,528,947 Broker-dealer and clearing organization payables 1,294,925 — 1,294,925 — 1,294,925 Short-term borrowings 1,065,807 — 1,065,807 — 1,065,807 Debt 295,884 — 293,685 — 293,685 Other liabilities 3,482 — 3,482 — 3,482
Schedule of adjustments to the carrying value of these investments	The following table presents the adjustments to the carrying value of these investments (in thousands). Year Ended December 31, 2019 2018 Balance, beginning of year $ 20,376 $ 22,946 Additional investments — 8,643 Upward adjustments 403 3,663 Impairments and downward adjustments (1,008) (4,083) Dispositions — (10,793) Balance, end of year $ 19,771 $ 20,376

Securities (Tables)

Securities (Tables)	12 Months Ended
Securities (Tables)	Dec. 31, 2019
Securities
Summary of trading securities	The fair value of trading securities are summarized as follows (in thousands). December 31, 2019 2018 U.S. Treasury securities $ — $ 7,945 U.S. government agencies: Bonds 24,680 1,494 Residential mortgage-backed securities 331,601 309,455 Commercial mortgage-backed securities 2,145 4,239 Collateralized mortgage obligations 191,154 206,813 Corporate debt securities 36,973 59,293 States and political subdivisions 93,117 126,748 Unit investment trusts 3,468 19,913 Private-label securitized product 2,992 5,680 Other 3,446 3,886 Totals $ 689,576 $ 745,466
Summary of amortized cost and fair value of available for sale securities	The amortized cost and fair value of available for sale and held to maturity securities are summarized as follows (in thousands). Available for Sale Amortized Unrealized Unrealized December 31, 2019 Cost Gains Losses Fair Value U.S. Treasury securities $ 9,869 $ 190 $ (2) $ 10,057 U.S. government agencies: Bonds 84,590 1,049 (64) 85,575 Residential mortgage-backed securities 460,099 7,037 (147) 466,989 Commercial mortgage-backed securities 11,488 543 — 12,031 Collateralized mortgage obligations 333,328 3,179 (815) 335,692 Corporate debt securities 44,868 1,938 — 46,806 States and political subdivisions 39,969 1,273 — 41,242 Totals $ 984,211 $ 15,209 $ (1,028) $ 998,392 Available for Sale Amortized Unrealized Unrealized December 31, 2018 Cost Gains Losses Fair Value U.S. Treasury securities $ 11,552 $ 30 $ (44) $ 11,538 U.S. government agencies: Bonds 85,492 552 (433) 85,611 Residential mortgage-backed securities 391,428 608 (6,962) 385,074 Commercial mortgage-backed securities 11,703 189 (120) 11,772 Collateralized mortgage obligations 281,450 385 (5,436) 276,399 Corporate debt securities 53,614 268 (580) 53,302 States and political subdivisions 51,560 608 (206) 51,962 Totals $ 886,799 $ 2,640 $ (13,781) $ 875,658
Summary of amortized cost and fair value of held to maturity securities	Held to Maturity Amortized Unrealized Unrealized December 31, 2019 Cost Gains Losses Fair Value U.S. Treasury securities $ — $ — $ — $ — U.S. government agencies: Bonds 24,020 10 (35) 23,995 Residential mortgage-backed securities 17,776 295 — 18,071 Commercial mortgage-backed securities 161,624 2,810 (655) 163,779 Collateralized mortgage obligations 113,894 226 (904) 113,216 States and political subdivisions 69,012 1,013 (156) 69,869 Totals $ 386,326 $ 4,354 $ (1,750) $ 388,930 Held to Maturity Amortized Unrealized Unrealized December 31, 2018 Cost Gains Losses Fair Value U.S. Treasury securities $ 9,903 $ 3 $ — $ 9,906 U.S. government agencies: Bonds 39,018 — (1,479) 37,539 Residential mortgage-backed securities 21,903 — (263) 21,640 Commercial mortgage-backed securities 87,065 271 (1,462) 85,874 Collateralized mortgage obligations 142,474 — (5,000) 137,474 States and political subdivisions 50,649 91 (2,049) 48,691 Totals $ 351,012 $ 365 $ (10,253) $ 341,124
Schedule of information regarding available for sale securities that were in an unrealized loss position	Information regarding available for sale, held to maturity and equity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). December 31, 2019 December 31, 2018 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Available for Sale U.S. treasury securities: Unrealized loss for less than twelve months 1 $ 1,897 $ 2 1 $ 981 $ 6 Unrealized loss for twelve months or longer — — — 3 3,556 39 1 1,897 2 4 4,537 45 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 2 24,937 64 3 24,772 5 Unrealized loss for twelve months or longer — — — 3 30,472 428 2 24,937 64 6 55,244 433 Residential mortgage-backed securities: Unrealized loss for less than twelve months 37 36,187 87 8 66,791 432 Unrealized loss for twelve months or longer 2 13,683 58 27 194,228 6,530 39 49,870 145 35 261,019 6,962 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 1 9,967 2 — — — Unrealized loss for twelve months or longer — — — 1 4,953 120 1 9,967 2 1 4,953 120 Collateralized mortgage obligations: Unrealized loss for less than twelve months 15 94,545 446 11 44,394 498 Unrealized loss for twelve months or longer 13 46,217 369 28 140,483 4,938 28 140,762 815 39 184,877 5,436 Corporate debt securities: Unrealized loss for less than twelve months — — — 8 16,256 282 Unrealized loss for twelve months or longer — — — 8 15,665 297 — — — 16 31,921 579 States and political subdivisions: Unrealized loss for less than twelve months — — — 29 8,590 27 Unrealized loss for twelve months or longer 1 487 — 18 9,029 179 1 487 — 47 17,619 206 Total available for sale: Unrealized loss for less than twelve months 56 167,533 601 60 161,784 1,250 Unrealized loss for twelve months or longer 16 60,387 427 88 398,386 12,531 72 $ 227,920 $ 1,028 148 $ 560,170 $ 13,781
Schedule of held-to-maturity and equity securities continuous unrealized loss position	December 31, 2019 December 31, 2018 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Held to Maturity U.S. government agencies: Bonds: Unrealized loss for less than twelve months 2 $ 9,665 $ 35 — $ — $ — Unrealized loss for twelve months or longer — — — 4 37,539 1,479 2 9,665 35 4 37,539 1,479 Residential mortgage-backed securities: Unrealized loss for less than twelve months — — — 1 8,411 89 Unrealized loss for twelve months or longer — — — 3 13,229 174 — — — 4 21,640 263 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 8 44,610 656 1 4,973 27 Unrealized loss for twelve months or longer — — — 13 59,670 1,435 8 44,610 656 14 64,643 1,462 Collateralized mortgage obligations: Unrealized loss for less than twelve months 4 23,904 287 1 2,051 26 Unrealized loss for twelve months or longer 8 59,560 617 24 135,423 4,974 12 83,464 904 25 137,474 5,000 States and political subdivisions: Unrealized loss for less than twelve months 38 15,996 124 9 6,431 56 Unrealized loss for twelve months or longer 4 1,099 31 86 32,909 1,993 42 17,095 155 95 39,340 2,049 Total held to maturity: Unrealized loss for less than twelve months 52 94,175 1,102 12 21,866 198 Unrealized loss for twelve months or longer 12 60,659 648 130 278,770 10,055 64 $ 154,834 $ 1,750 142 $ 300,636 $ 10,253
Schedule of amortized cost and fair value of securities, excluding trading and equity available for sale securities, by contractual maturity	Available for Sale Held to Maturity Amortized Amortized Cost Fair Value Cost Fair Value Due in one year or less $ 10,612 $ 10,660 $ — $ — Due after one year through five years 121,052 123,759 25,967 25,955 Due after five years through ten years 29,697 30,572 5,537 5,591 Due after ten years 17,935 18,689 61,528 62,318 179,296 183,680 93,032 93,864 Residential mortgage-backed securities 460,099 466,989 17,776 18,071 Collateralized mortgage obligations 333,328 335,692 113,894 113,216 Commercial mortgage-backed securities 11,488 12,031 161,624 163,779 $ 984,211 $ 998,392 $ 386,326 $ 388,930

Loans Held for Investment and_2

Loans Held for Investment and Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2019
Loans Held for Investment and Allowance for Loan Losses
Summary of non-covered loans by portfolio segment	December 31, 2019 2018 Commercial real estate $ 3,000,523 $ 2,940,120 Commercial and industrial 2,025,720 1,752,257 Construction and land development 940,564 932,909 1-4 family residential 791,020 679,263 Consumer 47,046 47,546 Broker-dealer (1) 576,527 578,363 7,381,400 6,930,458 Allowance for loan losses (61,136) (59,486) Total loans held for investment, net of allowance $ 7,320,264 $ 6,870,972 (1) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations.
Schedule of carrying values and the outstanding balances of the PCI loans	December 31, 2019 2018 Carrying amount $ 82,331 $ 93,072 Outstanding balance 141,615 172,808
Schedule of changes in the accretable yield for the PCI loans	Changes in the accretable yield for PCI loans were as follows (in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 80,693 $ 98,846 $ 156,847 Additions — 340 — Reclassifications from nonaccretable difference, net (1) 18,353 26,166 12,946 Disposals of loans (1,168) (1,226) (1,663) Accretion (31,875) (43,433) (69,284) Transfer of loans to OREO (2) — — — Balance, end of year $ 66,003 $ 80,693 $ 98,846 (1) Reclassifications from nonaccretable difference are primarily due to net increases in expected cash flows in the quarterly recasts. Reclassifications to nonaccretable difference occur when accruing loans are moved to non-accrual and expected cash flows are no longer predictable and the accretable yield is eliminated. (2) Transfer of loans to OREO is the difference between the value removed from the pool and the expected cash flows for the loan.
Summary of impaired loans by portfolio segment	Unpaid Recorded Recorded Total Contractual Investment with Investment with Recorded Related December 31, 2019 Principal Balance No Allowance Allowance Investment Allowance PCI Commercial real estate: Non-owner occupied $ 28,541 $ 4,254 $ 8,592 $ 12,846 $ 2,659 Owner occupied 27,020 2,816 9,920 12,736 1,235 Commercial and industrial 23,281 4,131 1,129 5,260 70 Construction and land development 7,327 1 76 77 27 1-4 family residential 89,800 381 51,031 51,412 3,179 Consumer 1,695 — — — — Broker-dealer — — — — — 177,664 11,583 70,748 82,331 7,170 Non-PCI Commercial real estate: Non-owner occupied 3,895 2,790 — 2,790 — Owner occupied 4,706 3,495 — 3,495 — Commercial and industrial 27,168 10,714 2,986 13,700 1,442 Construction and land development 1,483 1,316 — 1,316 — 1-4 family residential 10,320 7,343 — 7,343 — Consumer 38 26 — 26 — Broker-dealer — — — — — 47,610 25,684 2,986 28,670 1,442 $ 225,274 $ 37,267 $ 73,734 $ 111,001 $ 8,612 Unpaid Recorded Recorded Total Contractual Investment with Investment with Recorded Related December 31, 2018 Principal Balance No Allowance Allowance Investment Allowance PCI Commercial real estate: Non-owner occupied $ 42,668 $ 5,549 $ 7,540 $ 13,089 $ 1,125 Owner occupied 36,246 11,657 2,967 14,624 304 Commercial and industrial 27,403 5,491 1,068 6,559 72 Construction and land development 10,992 74 390 464 92 1-4 family residential 106,503 646 57,681 58,327 1,299 Consumer 2,185 9 — 9 — Broker-dealer — — — — — 225,997 23,426 69,646 93,072 2,892 Non-PCI Commercial real estate: Non-owner occupied — — — — — Owner occupied 5,231 4,098 — 4,098 — Commercial and industrial 22,277 9,891 1,740 11,631 721 Construction and land development 3,430 2,711 535 3,246 31 1-4 family residential 8,695 6,922 — 6,922 — Consumer 149 42 — 42 — Broker-dealer — — — — — 39,782 23,664 2,275 25,939 752 $ 265,779 $ 47,090 $ 71,921 $ 119,011 $ 3,644
Summary of average investment in impaired loans by portfolio segment	Average investment in impaired loans is summarized by portfolio segment in the following table (in thousands). Year Ended December 31, 2019 2018 2017 Commercial real estate: Non-owner occupied $ 14,363 $ 14,533 $ 16,623 Owner occupied 17,477 21,262 25,307 Commercial and industrial 18,575 21,143 19,189 Construction and land development 2,552 2,880 3,136 1-4 family residential 62,002 35,404 5,797 Consumer 39 117 361 Broker-dealer — — — Covered — 46,248 115,085 $ 115,008 $ 141,587 $ 185,498
Summary of non-accrual loans by portfolio segment	Non-accrual loans, excluding those classified as held for sale, are summarized by portfolio segment in the following table (in thousands). December 31, 2019 2018 Commercial real estate: Non-owner occupied $ 3,813 $ 1,226 Owner occupied 3,495 4,098 Commercial and industrial 15,262 14,870 Construction and land development 1,316 3,278 1-4 family residential 7,382 7,026 Consumer 26 41 Broker-dealer — — $ 31,294 $ 30,539
Schedule of information regarding TDRs granted	There were no TDRs granted during 2018. Information regarding TDRs granted during 2019 and 2017 is shown in the following table (dollars in thousands). At December 31, 2019 and 2018, the Bank had nominal unadvanced commitments to borrowers whose loans have been restructured in TDRs. Year Ended December 31, 2019 Year Ended December 31, 2017 Number of Balance at Balance at Number of Balance at Balance at Loans Extension End of Period Loans Extension End of Period Commercial real estate: Non-owner occupied — $ — $ — — $ — $ — Owner occupied — — — 2 4,775 4,629 Commercial and industrial 4 9,618 8,566 1 1,357 1,186 Construction and land development — — — 1 655 611 1-4 family residential — — — — — — Consumer — — — — — — Broker-dealer — — — — — — Covered — — — — — — 4 $ 9,618 $ 8,566 4 $ 6,787 $ 6,426 All of the loan modifications included in the table above involved payment term extensions. The Bank did not grant principal reductions on any restructured loans during 2019, 2018 or 2017. There were no TDRs granted during the twelve months preceding December 31, 2019 or 2018 for which a payment was at least 30 days past due. The following table presents information regarding TDRs granted during the twelve months preceding December 31, 2017, for which a payment was at least 30 days past due (dollars in thousands). Twelve Months Preceding December 31, 2017 Number of Balance at Balance at Loans Extension End of Period Commercial real estate: Non-owner occupied — $ — $ — Owner occupied 1 1,481 1,352 Commercial and industrial — — — Construction and land development 1 655 611 1-4 family residential — — — Consumer — — — Broker-dealer — — — Covered — — — 2 $ 2,136 $ 1,963
Schedule of analysis of the aging of the entity's loan portfolio	An analysis of the aging of the Company’s loan portfolio is shown in the following tables (in thousands). Accruing Loans Loans Past Due Loans Past Due Loans Past Due Total Current PCI Total Past Due December 31, 2019 30-59 Days 60-89 Days 90 Days or More Past Due Loans Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 1,769 $ — $ 2,790 $ 4,559 $ 1,691,947 $ 12,846 $ 1,709,352 $ — Owner occupied 1,741 125 2,432 4,298 1,274,137 12,736 1,291,171 — Commercial and industrial 5,672 1,735 3,192 10,599 2,009,861 5,260 2,025,720 3 Construction and land development 7,580 1,827 — 9,407 931,080 77 940,564 — 1-4 family residential 6,281 1,461 2,739 10,481 729,127 51,412 791,020 — Consumer 455 34 — 489 46,557 — 47,046 — Broker-dealer — — — — 576,527 — 576,527 — $ 23,498 $ 5,182 $ 11,153 $ 39,833 $ 7,259,236 $ 82,331 $ 7,381,400 $ 3 Accruing Loans Loans Past Due Loans Past Due Loans Past Due Total Current PCI Total Past Due December 31, 2018 30-59 Days 60-89 Days 90 Days or More Past Due Loans Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 1,174 $ 199 $ — $ 1,373 $ 1,708,160 $ 13,089 $ 1,722,622 $ — Owner occupied 1,364 — 4,173 5,537 1,197,337 14,624 1,217,498 75 Commercial and industrial 1,792 1,049 11,051 13,892 1,731,806 6,559 1,752,257 3 Construction and land development 3,549 — — 3,549 928,896 464 932,909 — 1-4 family residential 5,987 2,484 1,950 10,421 610,515 58,327 679,263 — Consumer 254 147 — 401 47,136 9 47,546 — Broker-dealer — — — — 578,363 — 578,363 — $ 14,120 $ 3,879 $ 17,174 $ 35,173 $ 6,802,213 $ 93,072 $ 6,930,458 $ 78
Schedule of internal risk grades of loans by class	The following tables present the internal risk grades of loans, as previously described, in the portfolio by class (in thousands). December 31, 2019 Pass Special Mention Substandard PCI Total Commercial real estate: Non-owner occupied $ 1,638,682 $ — $ 57,824 $ 12,846 $ 1,709,352 Owner occupied 1,238,855 810 38,770 12,736 1,291,171 Commercial and industrial 1,917,450 15,973 87,037 5,260 2,025,720 Construction and land development 937,967 — 2,520 77 940,564 1-4 family residential 722,657 — 16,951 51,412 791,020 Consumer 46,758 — 288 — 47,046 Broker-dealer 576,527 — — — 576,527 $ 7,078,896 $ 16,783 $ 203,390 $ 82,331 $ 7,381,400 December 31, 2018 Pass Special Mention Substandard PCI Total Commercial real estate: Non-owner occupied $ 1,673,424 $ — $ 36,109 $ 13,089 $ 1,722,622 Owner occupied 1,175,225 2,083 25,566 14,624 1,217,498 Commercial and industrial 1,677,033 15,320 53,345 6,559 1,752,257 Construction and land development 929,130 — 3,315 464 932,909 1-4 family residential 601,264 393 19,279 58,327 679,263 Consumer 47,416 — 121 9 47,546 Broker-dealer 578,363 — — — 578,363 $ 6,681,855 $ 17,796 $ 137,735 $ 93,072 $ 6,930,458
Schedule of changes in the allowance for loan losses by portfolio segment	Changes in the allowance for loan losses, distributed by portfolio segment, are shown below (in thousands). Balance, Provision (Recovery) Loans Recoveries on Balance, Year Ended December 31, 2019 Beginning of Year for Loan Losses Charged Off Charged Off Loans End of Year Commercial real estate $ 27,100 $ 5,649 $ (1,160) $ 6 $ 31,595 Commercial and industrial 21,980 (921) (5,924) 2,829 17,964 Construction and land development 6,061 (1,183) — — 4,878 1-4 family residential 3,956 3,276 (907) 61 6,386 Consumer 267 459 (498) 37 265 Broker-dealer 122 (74) — — 48 Total $ 59,486 $ 7,206 $ (8,489) $ 2,933 $ 61,136 Balance, Provision (Recovery) Loans Recoveries on Balance, Year Ended December 31, 2018 Beginning of Year for Loan Losses Charged Off Charged Off Loans End of Year Commercial real estate $ 27,232 $ 668 $ (800) $ — $ 27,100 Commercial and industrial 23,698 6,750 (12,741) 4,273 21,980 Construction and land development 7,847 (1,792) — 6 6,061 1-4 family residential 4,245 (292) (143) 146 3,956 Consumer 311 (15) (93) 64 267 Broker-dealer 353 (231) — — 122 Covered — — — — — Total $ 63,686 $ 5,088 $ (13,777) $ 4,489 $ 59,486 Balance, Provision (Recovery) Loans Recoveries on Balance, Year Ended December 31, 2017 Beginning of Year for Loan Losses Charged Off Charged Off Loans End of Year Commercial real estate $ 22,262 $ 4,320 $ (193) $ 24 $ 26,413 Commercial and industrial 21,369 6,725 (6,253) 1,833 23,674 Construction and land development 7,002 848 (13) 7 7,844 1-4 family residential 2,974 (701) (112) 201 2,362 Consumer 424 16 (208) 79 311 Broker-dealer 155 198 — — 353 Covered 413 2,865 (571) 22 2,729 Total $ 54,599 $ 14,271 $ (7,350) $ 2,166 $ 63,686
Schedule of loan portfolio distributed by portfolio segment and impairment methodology	The loan portfolio was distributed by portfolio segment and impairment methodology as shown below (in thousands). Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2019 Impairment Impairment Loans Total Commercial real estate $ 5,698 $ 2,969,243 $ 25,582 $ 3,000,523 Commercial and industrial 12,889 2,007,571 5,260 2,025,720 Construction and land development 1,237 939,250 77 940,564 1-4 family residential 608 739,000 51,412 791,020 Consumer — 47,046 — 47,046 Broker-dealer — 576,527 — 576,527 Total $ 20,432 $ 7,278,637 $ 82,331 $ 7,381,400 Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2018 Impairment Impairment Loans Total Commercial real estate $ 3,909 $ 2,908,498 $ 27,713 $ 2,940,120 Commercial and industrial 10,741 1,734,957 6,559 1,752,257 Construction and land development 3,241 929,204 464 932,909 1-4 family residential — 620,936 58,327 679,263 Consumer — 47,537 9 47,546 Broker-dealer — 578,363 — 578,363 Total $ 17,891 $ 6,819,495 $ 93,072 $ 6,930,458
Schedule of allowance for loan losses distributed by portfolio segment and impairment methodology	The allowance for loan losses was distributed by portfolio segment and impairment methodology as shown below (in thousands). Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2019 Impairment Impairment Loans Total Commercial real estate $ — $ 27,701 $ 3,894 $ 31,595 Commercial and industrial 1,442 16,452 70 17,964 Construction and land development — 4,851 27 4,878 1-4 family residential — 3,207 3,179 6,386 Consumer — 265 — 265 Broker-dealer — 48 — 48 Total $ 1,442 $ 52,524 $ 7,170 $ 61,136 Loans Individually Loans Collectively Evaluated for Evaluated for PCI December 31, 2018 Impairment Impairment Loans Total Commercial real estate $ — $ 25,671 $ 1,429 $ 27,100 Commercial and industrial 721 21,187 72 21,980 Construction and land development 31 5,938 92 6,061 1-4 family residential — 2,657 1,299 3,956 Consumer — 267 — 267 Broker-dealer — 122 — 122 Total $ 752 $ 55,842 $ 2,892 $ 59,486

Covered Assets and Indemnific_2

Covered Assets and Indemnification Asset (Tables)	12 Months Ended
Covered Assets and Indemnification Asset (Tables)	Dec. 31, 2019
Covered Assets and Indemnification Asset
Summary of the activity in covered OREO	A summary of the activity in OREO previously covered by the FDIC loss-share agreements is as follows (in thousands) (1) Year Ended December 31, 2018 2017 Balance, beginning of year $ 36,744 $ 51,642 Additions to covered OREO 5,284 6,700 Dispositions of covered OREO (10,145) (17,866) Valuation adjustments in the period (2,027) (3,732) Transfer to other assets as a result of loss-share termination (29,856) — Balance, end of year $ — $ 36,744 (1) The additions, dispositions and valuation adjustments during 2018 as presented in the table represent activity from January 1, 2018 through September 30, 2018, prior to the expiration and termination of the FDIC loss-share agreements. All previously “covered” OREO is included in other assets as of December 31, 2018.
Summary of the activity in the FDIC Indemnification Asset	A summary of the activity in the FDIC Indemnification Asset is as follows (in thousands). Year Ended December 31, 2018 2017 Balance, beginning of year $ 29,340 $ 71,313 FDIC Indemnification Asset accretion (amortization) (6,509) (17,083) Transfers to due from FDIC and other — (24,890) FDIC loss-share termination (22,831) — Balance, end of year $ — $ 29,340

Cash and Due from Banks (Tables

Cash and Due from Banks (Tables)	12 Months Ended
Cash and Due from Banks (Tables)	Dec. 31, 2019
Cash and Due from Banks
Schedule of cash and due from banks	Cash and due from banks consisted of the following (in thousands). December 31, 2019 2018 Cash on hand $ 39,590 $ 47,621 Clearings and collection items 129,055 83,949 Deposits at Federal Reserve Bank 232,019 425,770 Deposits at Federal Home Loan Bank 1,458 1,595 Deposits in FDIC-insured institutions 82,837 85,138 $ 484,959 $ 644,073

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
Premises and Equipment (Tables)	Dec. 31, 2019
Premises and Equipment
Summary of the components of premises and equipment	The components of premises and equipment are summarized as follows (in thousands). December 31, 2019 2018 Land and premises $ 130,312 $ 147,783 Furniture and equipment 285,617 259,082 415,929 406,865 Less accumulated depreciation and amortization (195,947) (169,492) $ 219,982 $ 237,373

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 31, 2019
Goodwill and Other Intangible Assets
Schedule of carrying value of intangible assets subject to amortization	The carrying value of intangible assets subject to amortization was as follows (in thousands). Estimated Gross Net Useful Life Intangible Accumulated Intangible December 31, 2019 (Years) Assets Amortization Assets Core deposits 4 - 12 $ 48,930 $ (36,576) $ 12,354 Trademarks and trade names 15 - 20 20,000 (9,825) 10,175 Noncompete agreements 4 - 6 4,310 (4,310) — Customer contracts and relationships 12 - 14 21,400 (16,776) 4,624 Agent relationships 13 3,600 (3,598) 2 $ 98,240 $ (71,085) $ 27,155 Estimated Gross Net Useful Life Intangible Accumulated Intangible December 31, 2018 (Years) Assets Amortization Assets Core deposits 4 - 12 $ 48,930 $ (31,062) $ 17,868 Trademarks and trade names 15 - 20 20,000 (8,844) 11,156 Noncompete agreements 4 - 6 11,650 (11,650) — Customer contracts and relationships 12 - 14 21,400 (15,465) 5,935 Agent relationships 13 3,600 (3,554) 46 $ 105,580 $ (70,575) $ 35,005
Schedule of estimated aggregate future amortization expense for intangible assets	The estimated aggregate future amortization expense for intangible assets at December 31, 2019 is as follows (in thousands). 2020 $ 6,538 2021 5,313 2022 3,987 2023 2,860 2024 1,825 Thereafter 6,632 $ 27,155

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
Mortgage Servicing Rights (Tables)	Dec. 31, 2019
Mortgage Servicing Rights
Schedule of change in fair value of the Company's MSR, as included in other assets within the consolidated balance sheets	The following tables present the changes in fair value of the Company’s MSR asset, as included in other assets within the consolidated balance sheets, and other information related to the serviced portfolio (dollars in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 66,102 $ 54,714 $ 61,968 Additions 13,755 25,028 16,401 Sales — (9,303) (17,499) Changes in fair value: Due to changes in model inputs or assumptions (1) (16,054) 159 (1,722) Due to customer payoffs (8,299) (4,496) (4,434) Balance, end of year $ 55,504 $ 66,102 $ 54,714 December 31, 2019 2018 Mortgage loans serviced for others $ 4,948,441 $ 5,086,461 MSR asset as a percentage of serviced mortgage loans 1.12 % 1.30 % (1) Primarily represents normal customer payments, changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates and the refinement of other MSR model assumptions.
Schedule of key assumptions used in measuring the fair value of the Company's MSR	December 31, 2019 2018 Weighted average constant prepayment rate 13.16 % 10.51 % Weighted average discount rate 11.14 % 11.11 % Weighted average life (in years) 6.0 7.1
Schedule of sensitivity analysis of fair value of the Company's MSR to certain key assumptions	A sensitivity analysis of the fair value of the Company’s MSR asset to certain key assumptions is presented in the following table (in thousands). December 31, 2019 2018 Constant prepayment rate: Impact of 10% adverse change $ (3,072) $ (2,512) Impact of 20% adverse change (5,943) (4,980) Discount rate: Impact of 10% adverse change (2,094) (2,677) Impact of 20% adverse change (4,028) (5,139)

Deposits (Tables)

Deposits (Tables)	12 Months Ended
Deposits (Tables)	Dec. 31, 2019
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). December 31, 2019 2018 Noninterest-bearing demand $ 2,769,556 $ 2,560,750 Interest-bearing: NOW accounts 1,552,209 1,358,196 Money market 2,641,116 2,725,541 Brokered - money market 5,000 5,000 Demand 329,405 393,685 Savings 199,076 184,700 Time 1,505,375 1,308,284 Brokered - time 30,477 — $ 9,032,214 $ 8,536,156
Summary of scheduled maturities of interest-bearing time deposits	2020 $ 1,172,822 2021 183,529 2022 118,529 2023 44,246 2024 and thereafter 16,726 $ 1,535,852

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	12 Months Ended
Short-term Borrowings (Tables)	Dec. 31, 2019
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). December 31, 2019 2018 Federal funds purchased $ 81,625 $ 100,100 Securities sold under agreements to repurchase 612,125 576,707 Federal Home Loan Bank 600,000 200,000 Short-term bank loans 111,000 189,000 Commercial paper 19,260 — $ 1,424,010 $ 1,065,807
Federal Funds Purchased and Securities Sold under Agreements to Repurchase
Short-term borrowings
Schedule of short-term borrowings	Information concerning federal funds purchased and securities sold under agreements to repurchase is shown in the following tables (dollars in thousands). Year Ended December 31, 2019 2018 2017 Average balance during the year $ 605,858 $ 701,622 $ 588,847 Average interest rate during the year 2.48 % 1.96 % 1.06 % Maximum month-end balance during the year 693,750 849,568 904,704 December 31, 2019 2018 Average interest rate at end of year 1.97 % 2.43 % Securities underlying the agreements at end of year: Carrying value $ 612,515 $ 587,609 Estimated fair value $ 661,023 $ 618,231
FHLB notes
Short-term borrowings
Schedule of short-term borrowings	Year Ended December 31, 2019 2018 2017 Average balance during the year $ 329,356 $ 214,110 $ 390,616 Average interest rate during the year 2.16 % 2.09 % 1.08 % Maximum month-end balance during the year $ 700,000 $ 675,000 $ 850,000 December 31, 2019 2018 Average interest rate at end of year 1.56 % 2.65 %

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
Notes Payable (Tables)	Dec. 31, 2019
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). December 31, 2019 2018 Senior Notes due April 2025, net of discount of $1,232 and $1,393, respectively $ 148,768 $ 148,607 FHLB notes, including premium of $146 and $222, respectively, with maturities ranging from September 2020 to June 2030 and interest payable monthly 28,848 4,391 NLIC note payable due May 2033, three-month LIBOR plus 4.10% (6.01% at December 31, 2019) with interest payable quarterly 10,000 10,000 NLIC note payable due September 2033, three-month LIBOR plus 4.05% (5.96% at December 31, 2019) with interest payable quarterly 10,000 10,000 ASIC note payable due April 2034, three-month LIBOR plus 4.05% (5.96% at December 31, 2019) with interest payable quarterly 7,500 7,500 Ventures Management lines of credit due May 2020 78,653 48,374 $ 283,769 $ 228,872
Scheduled maturities of notes payable	Scheduled maturities for notes payable outstanding at December 31, 2019 are as follows (in thousands). 2020 $ 80,868 2021 413 2022 — 2023 — 2024 — Thereafter 203,573 $ 284,854

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2019
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). December 31, 2019 Finance leases: Premises and equipment $ 7,780 Accumulated depreciation (4,178) Premises and equipment, net $ 3,602
Schedule of components of lease costs	Year Ended December 31, 2019 Operating lease cost $ 44,331 Less operating lease and sublease income (2,657) Net operating lease cost $ 41,674 Finance lease cost: Amortization of ROU assets $ 590 Interest on lease liabilities 596 Total finance lease cost $ 1,186
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands): Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 37,527 Operating cash flows from finance leases 587 Financing cash flows from finance leases 603 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 27,055 Finance leases —
Schedule of lease terms and discount rates	Information regarding the lease terms and discount rates of the Company’s leases is as follows. December 31, 2019 Weighted Average Weighted Average Lease Classification Remaining Lease Term (Years) Discount Rate Operating 5.9 5.29 % Finance 6.5 4.79 %
Schedule of maturities of lease liabilities under the Leasing Standard	Maturities of lease liabilities at December 31, 2019, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). Operating Leases Finance Leases 2020 $ 35,676 $ 1,197 2021 28,974 1,212 2022 22,942 1,241 2023 18,114 1,280 2024 11,847 1,163 Thereafter 33,879 2,297 Total minimum lease payments $ 151,432 $ 8,390 Less amount representing interest (23,030) (2,895) Lease liabilities $ 128,402 $ 5,495
Schedule of future minimum lease payments under ASC 840	Operating Leases Capital Leases 2019 $ 36,171 $ 1,186 2020 29,109 1,197 2021 21,058 1,212 2022 16,386 1,241 2023 12,361 1,280 Thereafter 18,264 3,460 Total minimum lease payments $ 133,349 9,576 Amount representing interest (1,221) Present value of minimum lease payments $ 8,355

Junior Subordinated Debenture_2

Junior Subordinated Debentures and Trust Preferred Securities (Tables)	12 Months Ended
	Dec. 31, 2019
Junior Subordinated Debentures and Trust Preferred Securities
Schedule of information regarding the PlainsCapital Debentures	Information regarding the PCC Debentures is shown in the following table (in thousands). Investor Issue Date Amount PCC Statutory Trust I July 31, 2001 $ 18,042 PCC Statutory Trust II March 26, 2003 $ 18,042 PCC Statutory Trust III September 17, 2003 $ 15,464 PCC Statutory Trust IV February 22, 2008 $ 15,464

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2019
Income Taxes
Schedule of components of the provision for income tax provision (benefit)	The significant components of the income tax provision are as follows (in thousands). Year Ended December 31, 2019 2018 2017 Current: Federal $ 61,934 $ 19,504 $ 63,769 State $ 9,253 $ 2,349 $ 5,440 71,187 21,853 69,209 Deferred: Federal $ (2,500) $ 11,352 $ 40,176 State $ (1,355) $ 1,845 $ 757 (3,855) 13,197 40,933 $ 67,332 $ 35,050 $ 110,142
Schedule of reconciliation of the income tax provision (benefit) and the amount that would be computed by applying the statutory Federal income tax rate to income (loss) before income taxes	The income tax provision differs from the amount that would be computed by applying the statutory Federal income tax rate to income before income taxes as a result of the following (in thousands). The applicable corporate federal income tax rates were 21% for 2019 and 2018 and 35% for 2017. Year Ended December 31, 2019 2018 2017 Computed tax at federal statutory rate $ 63,065 $ 33,763 $ 85,150 Tax effect of: Tax Legislation — — 28,363 Non-taxable acquisition adjustment — 263 (6,682) Nondeductible transaction costs — 86 774 Nondeductible expenses 2,728 2,864 3,089 State income taxes 6,239 3,313 4,028 Tax-exempt income, net (1,727) (1,432) (2,758) Minority interest (1,614) (900) (210) Share-based compensation benefit (145) (273) (412) Prior year return to provision adjustment (980) (1,682) (943) Other (234) (952) (257) $ 67,332 $ 35,050 $ 110,142
Schedule of components of the tax effects of temporary differences that give rise to the net deferred tax asset	The components of the tax effects of temporary differences that give rise to the net deferred tax asset included in other assets within the consolidated balance sheets are as follows (in thousands). December 31, 2019 2018 Deferred tax assets: Net operating and built-in loss carryforward $ 7,823 $ 9,656 Purchase accounting adjustment - loans 15,851 19,673 Allowance for loan losses 14,796 14,137 Compensation and benefits 17,813 14,865 Legal and other reserves 1,272 3,483 Foreclosed property 5,456 3,974 Operating lease ROU assets 29,125 — Other 9,774 15,142 101,910 80,930 Deferred tax liabilities: Premises and equipment 10,079 12,344 Intangible assets 7,684 9,326 Derivatives 4,342 4,169 Loan servicing 13,278 15,761 Operating lease liabilities 26,498 — Other 9,652 7,074 71,533 48,674 Net deferred tax asset $ 30,377 $ 32,256
Schedule of changes in gross unrecognized tax benefits, which excludes interest and penalties	The aggregate changes in gross unrecognized tax benefits, which excludes interest and penalties, are as follows (in thousands). Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 3,056 $ 1,574 $ 1,704 Increases related to tax positions taken during a prior year 317 770 476 Decreases related to tax positions taken during a prior year (423) — (1,273) Increases related to tax positions taken during the current year 288 712 667 Decreases related to expiration of the statute of limitations (430) — — Balance, end of year $ 2,808 $ 3,056 $ 1,574

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2019
Commitments and Contingencies
Schedule of roll-forward of claims activity for loans put-back to the mortgage origination segment	The following tables provide for a rollforward of claims activity for loans put-back to the mortgage origination segment based upon an alleged breach of a representation or warranty with respect to a loan sold and related indemnification liability reserve activity (in thousands). Representation and Warranty Specific Claims Activity - Origination Loan Balance Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 33,784 $ 33,702 $ 40,669 Claims made 20,054 22,156 42,330 Claims resolved with no payment (14,154) (13,169) (37,439) Repurchases (6,170) (8,250) (6,490) Indemnification payments (1,370) (655) (5,368) Balance, end of year $ 32,144 $ 33,784 $ 33,702 Indemnification Liability Reserve Activity Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 10,701 $ 23,472 $ 18,239 Additions for new sales 3,116 3,170 3,962 Repurchases (495) (612) (466) Early payment defaults (380) (368) (228) Indemnification payments (1) (352) (13,687) (713) Change in reserves for loans sold in prior years (814) (1,274) 2,678 Balance, end of year $ 11,776 $ 10,701 $ 23,472 December 31, 2019 2018 Reserve for Indemnification Liability: Specific claims $ 1,071 $ 676 Incurred but not reported claims 10,705 10,025 Total $ 11,776 $ 10,701 (1) Indemnification payments in 2018 included $13.5 million related to agreements with the DOJ and HUD in exchange for release of any civil claims related to certain loans originated by PrimeLending. These claims were included in incurred but not reported claims in prior periods.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
Stock-Based Compensation (Tables)	Dec. 31, 2019
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested RSU activity (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2016 1,456 $ 19.83 Granted 450 $ 26.37 Vested/Released (451) $ 22.48 Forfeited (137) $ 22.41 Balance, December 31, 2017 1,318 $ 20.89 Granted 510 $ 24.00 Vested/Released (406) $ 19.92 Forfeited (152) $ 20.97 Balance, December 31, 2018 1,270 $ 22.44 Granted 719 $ 20.02 Vested/Released (496) $ 18.17 Forfeited (56) $ 24.12 Balance, December 31, 2019 1,437 $ 22.64

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
Regulatory Matters (Tables)	Dec. 31, 2019
Regulatory Matters
Schedule of comparison of the Plain Capital's and Hilltop's consolidated actual capital amounts and ratios to the regulatory minimum requirements and the Bank's regulatory minimum capital requirements and the Bank's regulatory minimum capital requirements needed to qualify as a well-capitalized institution without giving effect to the final Basel III capital rules adopted by the Federal Reserve Board	Minimum Capital Requirements Including Conservation Buffer In Effect at Fully To Be Well Actual End of Period Phased In Capitalized Amount Ratio Ratio Ratio Ratio December 31, 2019 Tier 1 capital (to average assets): PlainsCapital $ 1,236,289 11.61 % 4.0 % 4.0 % 5.0 % Hilltop 1,822,970 12.71 % 4.0 % 4.0 % N/A Common equity Tier 1 capital (to risk-weighted assets): PlainsCapital 1,236,289 13.45 % 7.0 % 7.0 % 6.5 % Hilltop 1,776,381 16.70 % 7.0 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,236,289 13.45 % 8.5 % 8.5 % 8.0 % Hilltop 1,822,970 17.13 % 8.5 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,299,453 14.13 % 10.5 % 10.5 % 10.0 % Hilltop 1,867,771 17.55 % 10.5 % 10.5 % N/A Minimum Capital Requirements Including Conservation Buffer In Effect at Fully To Be Well Actual End of Period Phased In Capitalized Amount Ratio Ratio Ratio Ratio December 31, 2018 Tier 1 capital (to average assets): PlainsCapital $ 1,183,447 12.47 % 4.0 % 4.0 % 5.0 % Hilltop 1,680,364 12.53 % 4.0 % 4.0 % N/A Common equity Tier 1 capital (to risk-weighted assets): PlainsCapital 1,183,447 13.90 % 6.375 % 7.0 % 6.5 % Hilltop 1,634,978 16.58 % 6.375 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,183,447 13.90 % 7.875 % 8.5 % 8.0 % Hilltop 1,680,364 17.04 % 7.875 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,245,177 14.63 % 9.875 % 10.5 % 10.0 % Hilltop 1,722,602 17.47 % 9.875 % 10.5 % N/A
Schedule of reconciliation of equity capital to common equity Tier 1, Tier 1 and total capital (as defined)	A reconciliation of equity capital to common equity Tier 1, Tier 1 and total capital (as defined) is as follows (in thousands). December 31, 2019 December 31, 2018 PlainsCapital Hilltop PlainsCapital Hilltop Total equity capital $ 1,523,549 $ 2,103,039 $ 1,459,985 $ 1,949,470 Add: Net unrealized holding losses (gains) on securities available for sale and held in trust (9,452) (11,419) 7,988 8,627 Deduct: Goodwill and other disallowed intangible assets (276,249) (313,756) (282,238) (319,942) Other (1,559) (1,483) (2,288) (3,177) Common equity Tier 1 capital (as defined) 1,236,289 1,776,381 1,183,447 1,634,978 Add: Tier 1 capital Trust preferred securities — 65,000 — 65,000 Deduct: Additional Tier 1 capital deductions — (18,411) — (19,614) Tier 1 capital (as defined) 1,236,289 1,822,970 1,183,447 1,680,364 Add: Allowable Tier 2 capital Allowance for loan losses, including unfunded commitments 63,164 63,212 61,730 61,852 Deduct: Additional Tier 2 capital deductions — (18,411) — (19,614) Total capital (as defined) $ 1,299,453 $ 1,867,771 $ 1,245,177 $ 1,722,602
Schedule of net capital position	At December 31, 2019, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). HTS Hilltop Independent Securities Network Net capital $ 318,732 $ 3,375 Less: required net capital 7,750 250 Excess net capital $ 310,982 $ 3,125 Net capital as a percentage of aggregate debit items 82.3 % Net capital in excess of 5% aggregate debit items $ 299,356
Summary of statutory capital and surplus and statutory net income of each insurance subsidiary	A summary of statutory capital and surplus and statutory net income (loss) of each insurance subsidiary is as follows (in thousands). December 31, 2019 2018 Statutory capital and surplus: National Lloyds Insurance Company $ 70,112 $ 78,637 American Summit Insurance Company 19,201 17,908 Year Ended December 31, 2019 2018 2017 Statutory net income (loss): National Lloyds Insurance Company $ 11,389 $ 9,114 $ (1,785) American Summit Insurance Company 968 (1,304) 742

Other Noninterest Income and _2

Other Noninterest Income and Expense (Tables)	12 Months Ended
Other Noninterest Income and Expense (Tables)	Dec. 31, 2019
Other Noninterest Income and Expense
Schedule of components of other noninterest income and expense	The following table shows the components of other noninterest income and expense (in thousands). Year Ended December 31, 2019 2018 2017 Other noninterest income: Net gains from Hilltop Broker-Dealer structured product and derivative activities $ 129,571 $ 41,543 $ 70,922 Net gain from trading securities portfolio 20,521 6,197 20,210 Service charges on depositor accounts 15,170 14,484 14,429 Trust fees 10,255 9,807 7,485 Insurance commissions 5,325 5,211 4,819 Insurance direct billing and other policy fees 3,708 3,930 4,353 Revenue from check and stored value cards 2,784 2,966 3,169 Rent and other income from other real estate owned 438 764 1,280 SWS merger appraisal proceeding — — 11,757 Other 9,493 11,403 25,546 $ 197,265 $ 96,305 $ 163,970 Other noninterest expense: Software and information technology $ 53,916 $ 56,986 $ 45,891 Brokerage commissions and fees 20,039 20,674 22,884 Mortgage origination and servicing 19,892 19,705 22,353 Unreimbursed loan closing costs 16,784 16,798 20,428 Business development 12,967 15,913 18,619 Travel, meals and entertainment 12,526 12,389 12,839 Amortization of intangible assets 7,850 8,426 8,263 Funding fees 5,393 5,414 8,464 Office supplies 5,121 6,123 7,806 OREO and repossessed assets 1,858 3,885 4,004 FDIC indemnification asset amortization — 6,509 17,083 FDIC "true-up" — 250 2,100 Other 47,836 51,183 51,362 $ 204,182 $ 224,255 $ 242,096

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
Derivative Financial Instruments (Tables)	Dec. 31, 2019
Derivative Financial Instruments
Schedule of changes in fair value of derivatives	Changes in the fair value of derivatives are presented in the following table (in thousands). Year Ended December 31, 2019 2018 2017 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 8,550 $ (12,788) $ (13,108) Hilltop Broker-Dealers (3,085) (381) 8,142 Bank (148) 30 334
Schedule of derivative positions	Derivative positions are presented in the following table (in thousands). December 31, 2019 December 31, 2018 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 914,526 $ 18,222 $ 677,267 $ 17,421 Customer-based written options 31,200 — 31,200 (49) Customer-based purchased options 31,200 — 31,200 49 Commitments to purchase MBSs 3,346,946 3,321 2,359,630 10,467 Commitments to sell MBSs 5,988,198 (5,904) 3,711,477 (19,315) Interest rate swaps 15,012 (178) 15,104 82 U.S. Treasury bond futures and options (1) 283,500 — 367,200 — Eurodollar futures (1) 934,000 — 104,000 — Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 50,000 $ 528 $ — $ — (1) Changes in the fair value of these contracts are settled daily with the respective counterparties of PrimeLending and the Hilltop Broker-Dealers.

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	12 Months Ended
Balance Sheet Offsetting (Tables)	Dec. 31, 2019
Balance Sheet Offsetting
Schedule of the assets subject to an enforceable master netting arrangement or repurchase agreements	Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Assets Cash of Recognized Offset in the Presented in the Financial Collateral Net Assets Balance Sheet Balance Sheet Instruments Pledged Amount December 31, 2019 Securities borrowed: Institutional counterparties $ 1,634,782 $ — $ 1,634,782 $ (1,586,820) $ — $ 47,962 Reverse repurchase agreements: Institutional counterparties 59,031 — 59,031 (58,619) — 412 Forward MBS derivatives: Institutional counterparties 3,640 — 3,640 (3,640) — — $ 1,697,453 $ — $ 1,697,453 $ (1,649,079) $ — $ 48,374 December 31, 2018 Securities borrowed: Institutional counterparties $ 1,365,547 $ — $ 1,365,547 $ (1,307,121) $ — $ 58,426 Interest rate options: Customer counterparties 49 — 49 — — 49 Interest rate swaps: Institutional counterparties 88 — 88 — — 88 Reverse repurchase agreements: Institutional counterparties 61,611 — 61,611 (61,390) — 221 Forward MBS derivatives: Institutional counterparties 10,469 — 10,469 (10,469) — — $ 1,437,764 $ — $ 1,437,764 $ (1,378,980) $ — $ 58,784
Schedule of the liabilities subject to an enforceable master netting arrangement or repurchase agreements	Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Liabilities Cash of Recognized Offset in the Presented in the Financial Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Pledged Amount December 31, 2019 Securities loaned: Institutional counterparties $ 1,555,964 $ — $ 1,555,964 $ (1,509,933) $ — $ 46,031 Interest rate swaps: Institutional counterparties 178 — 178 (112) — 66 Repurchase agreements: Institutional counterparties 586,651 — 586,651 (586,651) — — Customer counterparties 25,474 — 25,474 (25,474) — — Forward MBS derivatives: Institutional counterparties 6,890 (667) 6,223 (2,384) — 3,839 $ 2,175,157 $ (667) $ 2,174,490 $ (2,124,554) $ — $ 49,936 December 31, 2018 Securities loaned: Institutional counterparties $ 1,186,073 $ — $ 1,186,073 $ (1,136,033) $ — $ 50,040 Interest rate options: Institutional counterparties 49 — 49 — — 49 Interest rate swaps: Institutional counterparties 6 — 6 — — 6 Repurchase agreements: Institutional counterparties 533,441 — 533,441 (533,441) — — Customer counterparties 43,266 — 43,266 (43,266) — — Forward MBS derivatives: Institutional counterparties 19,331 (15) 19,316 (7,728) — 11,588 $ 1,782,166 $ (15) $ 1,782,151 $ (1,720,468) $ — $ 61,683
Schedule of contractual maturities of repurchase agreements and secured borrowing transactions	The following tables present the remaining contractual maturities of repurchase agreement and securities lending transactions accounted for as secured borrowings (in thousands). The Company had no repurchase-to-maturity transactions outstanding at both December 31, 2019 and 2018. Remaining Contractual Maturities Overnight and Greater Than December 31, 2019 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: U.S. Treasury and agency securities $ 45,950 $ — $ — $ — $ 45,950 Asset-backed securities 257,396 12,892 295,887 — 566,175 Securities lending transactions: Corporate securities 120 — — — 120 Equity securities 1,555,844 — — — 1,555,844 Total $ 1,859,310 $ 12,892 $ 295,887 $ — $ 2,168,089 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 2,168,089 Amount related to agreements not included in offsetting disclosure above $ — Remaining Contractual Maturities Overnight and Greater Than December 31, 2018 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: U.S. Treasury and agency securities $ 131,848 $ — $ — $ — $ 131,848 Asset-backed securities 444,859 — — — 444,859 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,185,960 — — — 1,185,960 Total $ 1,762,780 $ — $ — $ — $ 1,762,780 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,762,780 Amount related to agreements not included in offsetting disclosure above $ —

Broker-Dealer and Clearing Or_2

Broker-Dealer and Clearing Organization Receivables and Payables (Tables)	12 Months Ended
	Dec. 31, 2019
Broker-Dealer and Clearing Organization Receivables and Payables
Schedule of broker-dealer and clearing organization receivables and payables	Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). December 31, 2019 2018 Receivables: Securities borrowed $ 1,634,782 $ 1,365,547 Securities failed to deliver 18,726 16,300 Trades in process of settlement 104,922 32,993 Other 21,850 25,447 $ 1,780,280 $ 1,440,287 Payables: Securities loaned $ 1,555,964 $ 1,186,073 Correspondents 37,036 29,311 Securities failed to receive 8,568 75,015 Other 3,950 4,526 $ 1,605,518 $ 1,294,925

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Cost (Tables)	12 Months Ended
Deferred Policy Acquisition Cost (Tables)	Dec. 31, 2019
Deferred Policy Acquisition Costs.
Schedule of activity in deferred policy acquisition costs	Year Ended December 31, 2019 2018 2017 Balance, beginning of year $ 16,633 $ 16,988 $ 18,603 Acquisition expenses capitalized 32,245 34,328 34,934 Amortization charged to income (33,206) (34,683) (36,549) Balance, end of year $ 15,672 $ 16,633 $ 16,988

Reserve for Losses and Loss A_2

Reserve for Losses and Loss Adjustment Expenses (Tables)	12 Months Ended
Reserve for Losses and Loss Adjustment Expenses (Tables)	Dec. 31, 2019
Reserve for Losses and Loss Adjustment Expenses
Schedule of information regarding the reserve for unpaid losses and loss adjustment expenses ("LAE") as included in other liabilities within the consolidated balance sheets	A rollforward of NLC’s reserve for unpaid losses and LAE, as included in other liabilities within the consolidated balance sheets, is as follows (in thousands). December 31, 2019 2018 2017 Balance, beginning of year $ 20,552 $ 30,213 $ 35,826 Less reinsurance recoverables (3,214) (11,495) (9,433) Net balance, beginning of year 17,338 18,718 26,393 Incurred related to: Current year 71,687 79,881 94,444 Prior years (2,929) (535) 257 Total incurred 68,758 79,346 94,701 Payments related to: Current year (60,310) (66,009) (83,332) Prior years (11,449) (14,717) (19,044) Total payments (71,759) (80,726) (102,376) Net balance, end of year 14,337 17,338 18,718 Plus reinsurance recoverables 1,005 3,214 11,495 Balance, end of year $ 15,342 $ 20,552 $ 30,213
Summary of claims loss reserve development activity	A summary of claims loss reserve development activity is presented in the following table (in thousands). Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance December 31, 2019 Total of Incurred But Not Reported Reserves Plus Cumulative Development Number of Accident December 31, 2019 On Reported Reported Year 2016 2017 2018 2019 Claims Claims Unaudited 2016 $ 84,771 $ 85,189 $ 84,076 $ 83,943 $ 220 20,184 2017 87,899 88,025 87,534 225 20,740 2018 75,217 73,261 1,160 15,293 2019 71,687 5,430 14,218 $ 316,425 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Accident December 31, 2019 Year 2016 2017 2018 2019 Unaudited 2016 $ 71,543 $ 81,682 $ 83,169 $ 83,596 2017 77,675 86,319 87,247 2018 61,922 71,903 2019 60,310 Total $ 303,056 All outstanding reserves prior to 2016, net of reinsurance 197 Reserve for unpaid losses and allocated loss adjustment expenses, net of reinsurance $ 13,566

Reinsurance Activity (Tables)

Reinsurance Activity (Tables)	12 Months Ended
Reinsurance Activity (Tables)	Dec. 31, 2019
Reinsurance Activity
Schedule of reinsurers with a balance in excess of 5% of outstanding reinsurance receivables	Reinsurers with a balance in excess of 5% of the Company’s outstanding reinsurance receivables at December 31, 2019 are listed below (in thousands). Balances Due From A.M. Best Reinsurers Rating R+V Versicherung AG $ 166 N/A Partner Reinsurance Company Ltd. 150 A+ Arch Reinsurance Company 90 A+ Aspen Bermuda Ltd 79 A Lloyds Syndicate AML #2001 66 A Fidelis Reinsurance 55 A- Everest Reinsurance Company 52 A+ $ 658
Schedule of effects of reinsurance on premiums written and earned	The effects of reinsurance on premiums written and earned are summarized as follows (in thousands). Year Ended December 31, 2019 2018 2017 Written Earned Written Earned Written Earned Premiums from direct business $ 125,157 $ 126,434 $ 129,611 $ 133,112 $ 137,091 $ 144,990 Reinsurance assumed 13,148 13,041 12,917 12,516 12,150 11,767 Reinsurance ceded (7,191) (7,191) (8,749) (8,877) (12,280) (14,459) Net premiums $ 131,114 $ 132,284 $ 133,779 $ 136,751 $ 136,961 $ 142,298
Schedule of effects of reinsurance on incurred losses	The effects of reinsurance on incurred losses are as follows (in thousands). Year Ended December 31, 2019 2018 2017 Losses and LAE incurred $ 68,130 $ 76,464 $ 138,358 Reinsurance recoverables 810 2,883 (43,657) Net loss and LAE incurred $ 68,940 $ 79,347 $ 94,701

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
Segment and Related Information (Tables)	Dec. 31, 2019
Segment and Related Information
Schedule of information about the segment revenues, operating results, goodwill, and assets of entity's reportable segments	Mortgage All Other and Hilltop Year Ended December 31, 2019 Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated Net interest income (expense) $ 379,258 $ 51,308 $ (6,273) $ 2,329 $ (5,541) $ 20,225 $ 441,306 Provision (recovery) for loan losses 7,280 (74) — — — — 7,206 Noninterest income 41,753 404,411 634,992 143,082 2,221 (20,443) 1,206,016 Noninterest expense 231,524 366,031 563,998 127,920 50,968 (634) 1,339,807 Income (loss) before income taxes $ 182,207 $ 89,762 $ 64,721 $ 17,491 $ (54,288) $ 416 $ 300,309 Mortgage All Other and Hilltop Year Ended December 31, 2018 Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated Net interest income (expense) $ 370,732 $ 50,878 $ 1,485 $ 3,025 $ (9,176) $ 19,380 $ 436,324 Provision (recovery) for loan losses 5,319 (231) — — — — 5,088 Noninterest income 43,588 301,714 551,860 142,565 4,893 (21,830) 1,022,790 Noninterest expense 256,577 320,241 540,474 139,921 36,628 (592) 1,293,249 Income (loss) before income taxes $ 152,424 $ 32,582 $ 12,871 $ 5,669 $ (40,911) $ (1,858) $ 160,777 Mortgage All Other and Hilltop Year Ended December 31, 2017 Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated Net interest income (expense) $ 366,581 $ 43,735 $ (915) $ 2,861 $ (10,069) $ 19,555 $ 421,748 Provision (recovery) for loan losses 14,073 198 — — — — 14,271 Noninterest income 59,904 368,421 632,388 151,382 12,798 (19,829) 1,205,064 Noninterest expense 248,404 347,314 581,899 158,354 33,983 (699) 1,369,255 Income (loss) before income taxes $ 164,008 $ 64,644 $ 49,574 $ (4,111) $ (31,254) $ 425 $ 243,286 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Insurance Corporate Eliminations Consolidated December 31, 2019 Goodwill $ 247,368 $ 7,008 $ 13,071 $ 23,988 $ — $ — $ 291,435 Total assets $ 11,147,344 $ 3,457,068 $ 2,357,415 $ 254,639 $ 2,393,604 $ (4,437,622) $ 15,172,448 December 31, 2018 Goodwill $ 247,368 $ 7,008 $ 13,071 $ 23,988 $ — $ — $ 291,435 Total assets $ 10,004,971 $ 3,213,115 $ 1,627,134 $ 253,513 $ 2,243,182 $ (3,658,343) $ 13,683,572

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
Earnings per Common Share (Tables)	Dec. 31, 2019
Earnings per Common Share
Schedule of the computation of basic and diluted earnings per common share	The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). Year Ended December 31, 2019 2018 2017 Basic earnings per share: Income attributable to Hilltop $ 225,291 $ 121,441 $ 132,544 Weighted average shares outstanding - basic 92,345 94,969 97,137 Basic earnings per common share $ 2.44 $ 1.28 $ 1.36 Diluted earnings per share: Income attributable to Hilltop $ 225,291 $ 121,441 $ 132,544 Weighted average shares outstanding - basic 92,345 94,969 97,137 Effect of potentially dilutive securities 49 98 216 Weighted average shares outstanding - diluted 92,394 95,067 97,353 Diluted earnings per common share $ 2.44 $ 1.28 $ 1.36

Financial Statements of Parent

Financial Statements of Parent (Tables)	12 Months Ended
Financial Statements of Parent (Tables)	Dec. 31, 2019
Financial Statements of Parent
Schedule of Condensed Combined Statements of Operations and Comprehensive Income (Loss)	The following tables present the condensed combined financial statements of the Company’s bank holding company entities, Hilltop and PCC. The tables also include the corporate activities associated with Hilltop Opportunity Partners LLC and the Hilltop Plaza Entities (in thousands). Investments in subsidiaries are determined using the equity method of accounting. Condensed Combined Statements of Operations and Comprehensive Income Year Ended December 31, 2019 2018 2017 Dividends from bank subsidiaries $ 143,000 $ 42,000 $ 53,000 Dividends from nonbank subsidiaries 36,950 37,500 41,500 Investment income 5,933 3,089 312 Interest expense 11,474 12,265 10,381 Other income 2,221 4,893 12,798 General and administrative expense 50,968 36,628 33,983 Income before income taxes and equity in undistributed earnings of subsidiaries activity 125,662 38,589 63,246 Income tax benefit (12,706) (7,767) (15,577) Equity in undistributed earnings of subsidiaries 94,609 79,371 54,321 Net income $ 232,977 $ 125,727 $ 133,144 Other comprehensive income (loss), net 20,046 (5,656) (879) Comprehensive income $ 253,023 $ 120,071 $ 132,265
Schedule of Condensed Combined Balance Sheets	Condensed Combined Balance Sheets December 31, 2019 2018 2017 Assets: Cash and cash equivalents $ 116,471 $ 54,405 $ 96,764 Investment in subsidiaries: Bank subsidiaries 1,523,549 1,459,984 1,340,093 Nonbank subsidiaries 533,844 483,593 603,631 Other assets 219,740 245,200 66,490 Total assets $ 2,393,604 $ 2,243,182 $ 2,106,978 Liabilities and Stockholders’ Equity: Accounts payable and accrued expenses $ 53,418 $ 58,319 $ 46,442 Notes payable 215,780 215,620 148,455 Stockholders’ equity 2,124,406 1,969,243 1,912,081 Total liabilities and stockholders’ equity $ 2,393,604 $ 2,243,182 $ 2,106,978
Schedule of Condensed Combined Statements of Cash Flows	Condensed Combined Statements of Cash Flows Year Ended December 31, 2019 2018 2017 Operating Activities: Net income $ 232,977 $ 125,727 $ 133,144 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (94,609) (79,371) (54,321) Net realized gains on equity investments — (5,336) — Deferred income taxes (123) 217 2,511 Other, net 44,943 19,368 (57,380) Net cash provided by operating activities 183,188 60,605 23,954 Investing Activities: Capital contribution to bank and bank holding company subsidiaries — — (10,000) Purchases of equity investments — (12,492) — Purchases of premises and equipment and other (17,302) (42,390) (4,241) Proceeds from sales of equity investments — 16,174 — Net cash used in investing activities (17,302) (38,708) (14,241) Financing Activities: Payments to repurchase common stock (73,385) (58,990) (27,388) Dividends paid on common stock (29,627) (26,698) (23,140) Net cash contributed from noncontrolling interest 100 19,250 — Other, net (908) 2,182 19,289 Net cash used in financing activities (103,820) (64,256) (31,239) Net change in cash, cash equivalents and restricted cash 62,066 (42,359) (21,526) Cash, cash equivalents and restricted cash, beginning of year 54,405 96,764 118,290 Cash, cash equivalents and restricted cash, end of year $ 116,471 $ 54,405 $ 96,764 Supplemental Schedule of Non-Cash Activities: Construction in progress related to build-to-suit lease obligations $ — $ 27,802 $ — Note receivable contributed from nonbank subsidiary $ — $ 111,653 $ —

Selected Quarterly Financial _2

Selected Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Selected Quarterly Financial Information (Unaudited)
Schedule of quarterly financial information	Selected quarterly financial information is summarized as follows (in thousands, except per share data). Year Ended December 31, 2019 Fourth Third Second First Full Quarter Quarter Quarter Quarter Year Interest income $ 152,777 $ 161,956 $ 150,056 $ 150,040 $ 614,829 Interest expense 41,490 48,744 42,180 41,109 173,523 Net interest income 111,287 113,212 107,876 108,931 441,306 Provision (recovery) for loan losses 6,880 47 (672) 951 7,206 Noninterest income 299,276 341,401 312,871 252,468 1,206,016 Noninterest expense 336,936 350,109 343,677 309,085 1,339,807 Income before income taxes 66,747 104,457 77,742 51,363 300,309 Income tax expense 15,045 22,750 17,951 11,586 67,332 Net income 51,702 81,707 59,791 39,777 232,977 Less: Net income attributable to noncontrolling interest 2,426 2,289 1,980 991 7,686 Income attributable to Hilltop $ 49,276 $ 79,418 $ 57,811 $ 38,786 $ 225,291 Earnings per common share: Basic $ 0.54 $ 0.87 $ 0.62 $ 0.41 $ 2.44 Diluted $ 0.54 $ 0.86 $ 0.62 $ 0.41 $ 2.44 Cash dividends declared per common share $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.32 Year Ended December 31, 2018 Fourth Third Second First Full Quarter Quarter Quarter Quarter Year Interest income $ 157,702 $ 148,326 $ 140,040 $ 133,360 $ 579,428 Interest expense 39,987 37,985 35,192 29,940 143,104 Net interest income 117,715 110,341 104,848 103,420 436,324 Provision for loan losses 6,926 (371) 340 (1,807) 5,088 Noninterest income 238,516 269,697 279,434 235,143 1,022,790 Noninterest expense 310,819 335,711 338,517 308,202 1,293,249 Income before income taxes 38,486 44,698 45,425 32,168 160,777 Income tax expense 8,928 7,600 11,034 7,488 35,050 Net income 29,558 37,098 34,391 24,680 125,727 Less: Net income attributable to noncontrolling interest 1,443 1,293 1,311 239 4,286 Income attributable to Hilltop $ 28,115 $ 35,805 $ 33,080 $ 24,441 $ 121,441 Earnings per common share: Basic $ 0.30 $ 0.38 $ 0.35 $ 0.25 $ 1.28 Diluted $ 0.30 $ 0.38 $ 0.35 $ 0.25 $ 1.28 Cash dividends declared per common share $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.28

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Basis of Presentation, Ownership (Details)	12 Months Ended
	Dec. 31, 2019item
Basis of Presentation
Number of primary operating business units	3
PPC
Basis of Presentation
Ownership percentage	100.00%
Securities Holdings
Basis of Presentation
Ownership percentage	100.00%
NLC
Basis of Presentation
Ownership percentage	100.00%
HTH Hillcrest Project LLC
Basis of Presentation
Membership ownership percentage	100.00%
Hilltop Investments I, LLC
Basis of Presentation
Membership ownership percentage	100.00%
PPC \| PlainsCapital (the Bank)
Basis of Presentation
Ownership percentage	100.00%
PPC \| Hilltop Opportunity Partners LLC
Basis of Presentation
Membership ownership percentage	100.00%
PPC \| PCC Statutory Trusts
Basis of Presentation
Ownership percentage	100.00%
PlainsCapital (the Bank) \| Prime Lending
Basis of Presentation
Ownership percentage	100.00%
Prime Lending \| Ventures Management
Basis of Presentation
Membership ownership percentage	100.00%
Hilltop Investments I, LLC \| Hillcrest Land LLC
Basis of Presentation
Membership ownership percentage	50.00%

Summary of Significant Accoun_4

Summary of Significant Accounting and Reporting Policies - Loans (Details)	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)
Insurance Premiums Receivable
Valuation allowance for uncollectible amounts	$ 400,000	$ 0
Deferred Policy Acquisition Costs.
Premium deficiency	$ 0	$ 0
Minimum
Loans Held for Sale
Number of layers of common risk characteristics based on which certain acquired loans aggregated into various loan pools to determine respective fair values \| item	2
Minimum \| Single Family Residential Loans [Member]
Loans Held for Sale
Loans held-for-sale, period reported on balance sheet	30 days
Maximum
Loans Held for Sale
Loans held-for-sale, period reported on balance sheet	30 days
Maximum \| Single Family Residential Loans [Member]
Loans Held for Sale
Loans held-for-sale, period reported on balance sheet	45 days
Acquired Financing Receivable
Loans Held for Sale
Carryover of Allowance for Loan and Lease Losses, Loans Acquired	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting and Reporting Policies - Premises and Equipment (Details) - Property, Plant and Equipment [Member]	12 Months Ended
	Dec. 31, 2019
Minimum
Premises and Equipment
Estimated useful lives	3 years
Maximum
Premises and Equipment
Estimated useful lives	40 years

Summary of Significant Accoun_6

Summary of Significant Accounting and Reporting Policies - Other Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 22, 2015	Apr. 09, 2015USD ($)
Advertising
Advertising Expense	$ 3.6	$ 4.6	$ 4.7
Broker-Dealer
Debt Instrument
Number of primary lines of business \| item	4
Banking
Debt Instrument
Number of primary lines of business \| item	3
Interest Expense
Debt Instrument
Debt issuance costs amortized	$ 0.2	$ 0.2	$ 0.1
Senior Notes due April 2025
Debt Instrument
Interest rate (as a percent)				5.00%
Senior Notes due April 2025 \| Private Placement
Debt Instrument
Capitalized debt issuance costs					$ 1.9
Interest rate (as a percent)					5.00%

Acquisition - Identifiable Asse

Acquisition - Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Aug. 01, 2018	Dec. 31, 2018	Dec. 31, 2019
Fair values of the identifiable assets acquired, and liabilities assumed
Goodwill resulting from the acquisition		$ 291,435	$ 291,435
BORO
Fair values of the identifiable assets acquired, and liabilities assumed
Cash and due from banks	$ 21,756
Securities	60,477
Loans held for investment	326,618
Other assets	25,912
Total identifiable assets acquired	434,763
Deposits	376,393
Short-term borrowings	10,000
Other liabilities	2,996
Total liabilities assumed	389,389
Net identifiable assets acquired	45,374
Goodwill resulting from the acquisition	39,627
Net assets acquired	$ 85,001
Allocation to intangible assets
Transaction and integration related expenses		$ 8,200
Core Deposits \| BORO
Allocation to intangible assets
Estimated Useful Life	6 years
Intangible Assets	$ 10,000

Acquisition - Acquired Loans at

Acquisition - Acquired Loans at Acquisition Date (Details) - BORO $ in Thousands	Aug. 01, 2018USD ($)
Information about the acquired loans at acquisition
Carryover of the allowance for loan losses recorded	$ 0
Total loans	326,618
Commercial real estate
Information about the acquired loans at acquisition
Total loans	124,538
1 - 4 family residential
Information about the acquired loans at acquisition
Total loans	55,526
Construction and land development
Information about the acquired loans at acquisition
Total loans	37,134
Commercial and Industrial
Information about the acquired loans at acquisition
Total loans	100,386
Consumer
Information about the acquired loans at acquisition
Total loans	9,034
Non-PCI
Information about the acquired loans at acquisition
Total loans	319,089
Non-PCI \| Commercial real estate
Information about the acquired loans at acquisition
Total loans	119,188
Non-PCI \| 1 - 4 family residential
Information about the acquired loans at acquisition
Total loans	55,487
Non-PCI \| Construction and land development
Information about the acquired loans at acquisition
Total loans	37,134
Non-PCI \| Commercial and Industrial
Information about the acquired loans at acquisition
Total loans	98,259
Non-PCI \| Consumer
Information about the acquired loans at acquisition
Total loans	9,021
PCI loans
Information about the acquired loans at acquisition
Total loans	7,529
PCI loans \| Commercial real estate
Information about the acquired loans at acquisition
Total loans	5,350
PCI loans \| 1 - 4 family residential
Information about the acquired loans at acquisition
Total loans	39
PCI loans \| Commercial and Industrial
Information about the acquired loans at acquisition
Total loans	2,127
PCI loans \| Consumer
Information about the acquired loans at acquisition
Total loans	$ 13

Acquisition - Loans at Acquisit

Acquisition - Loans at Acquisition, Additional Info (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Aug. 01, 2018
PCI loans
Acquisitions
Nonaccretable difference	$ 49,500	$ 64,200
BORO
Acquisitions
Total loans			$ 326,618
BORO \| PCI loans
Acquisitions
Contractually required principal and interest payments			10,730
Nonaccretable difference			2,859
Cash flows expected to be collected			7,871
Accretable difference			342
Total loans			7,529
BORO \| Non-PCI
Acquisitions
Contractually required principal and interest payments			381,551
Contractual cash flows not expected to be collected			15,286
Total loans			$ 319,089

Fair Value Measurements - FV Op

Fair Value Measurements - FV Option (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair value measurements
Mortgage loans held for sale, fair value	$ 1,940	$ 1,260
Mortgage loans held for sale, unpaid principal balance	$ 1,880	$ 1,210
Maximum
Fair value measurements
Loans Held for Sale Period of Time	30 days

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Trading securities	$ 689,576	$ 745,466
Available for sale securities	998,392	875,658
Equity securities	20,007	19,679
Financial liabilities:
Securities sold, not yet purchased	43,817	81,667
Recurring
Financial assets:
Trading securities	689,576	745,466
Available for sale securities	998,392	875,658
Equity securities	20,007	19,679
Loans held for sale	1,935,713	1,257,775
Derivative assets	33,129	35,010
MSR asset	55,504	66,102
Financial liabilities:
Securities sold, not yet purchased	43,817	81,667
Derivative liabilities	17,140	26,355
Recurring \| Level 1
Financial assets:
Trading securities		7,947
Equity securities	20,007	19,679
Financial liabilities:
Securities sold, not yet purchased	29,080	33,000
Recurring \| Level 2
Financial assets:
Trading securities	689,576	737,519
Available for sale securities	998,392	875,658
Loans held for sale	1,868,518	1,207,311
Derivative assets	33,129	35,010
Financial liabilities:
Securities sold, not yet purchased	14,737	48,667
Derivative liabilities	17,140	26,355
Recurring \| Level 3
Financial assets:
Loans held for sale	67,195	50,464
MSR asset	$ 55,504	$ 66,102

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	$ 116,566	$ 91,686	$ 97,769
Purchases/Additions	74,230	86,601	53,292
Sales/Reductions	(34,849)	(51,104)	(44,272)
Transfers into Level 3	1,136
Total gains or losses (realized or unrealized):
Included in Net Income	(34,384)	(10,617)	(15,103)
Asset balance, end of period	122,699	116,566	91,686
Loans Held for Sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	50,464	36,972	35,801
Purchases/Additions	60,475	61,573	36,891
Sales/Reductions	(34,849)	(41,801)	(26,773)
Transfers into Level 3	1,136
Total gains or losses (realized or unrealized):
Included in Net Income	(10,031)	(6,280)	(8,947)
Asset balance, end of period	67,195	50,464	36,972
MSR
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	66,102	54,714	61,968
Purchases/Additions	13,755	25,028	16,401
Sales/Reductions		(9,303)	(17,499)
Total gains or losses (realized or unrealized):
Included in Net Income	(24,353)	(4,337)	(6,156)
Asset balance, end of period	$ 55,504	$ 66,102	$ 54,714

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring - item	Dec. 31, 2019	Dec. 31, 2018
Loans Held for Sale
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Loans Held-for-sale, Measurement Input [Extensible List]	us-gaap:MeasurementInputPriceVolatilityMember	us-gaap:MeasurementInputPriceVolatilityMember
Loans Held for Sale \| Weighted average
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.95	0.95
Loans Held for Sale \| Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.92	0.95
Loans Held for Sale \| Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.96	0.96
MSR
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
MSR \| Constant Prepayment Rate
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1316	0.1051
MSR \| Discount Rate
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1114	0.1111

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Transfers Between Level 1 and Level 2
Transfers of assets from level 1 to level 2	$ 0	$ 0	$ 0
Transfers of assets from level 2 to level 1	0	0	0
Transfers of liabilities from level 1 to level 2	0	0	0
Transfers of liabilities from level 2 to level 1	0	0	0
Fair Value Option
Net Gains (Losses)	504,935	445,116	538,468
Other Noninterest Income	197,265	96,305	163,970
Loans Held for Sale
Fair Value Option
Net Gains (Losses)	12,775	(8,063)	10,655
Total Changes in Fair Value	12,775	(8,063)	10,655
MSR
Fair Value Option
Net Gains (Losses)	(24,353)	(4,337)	(6,156)
Total Changes in Fair Value	$ (24,353)	$ (4,337)	$ (6,156)

Fair Value Measurements - Impai

Fair Value Measurements - Impaired Loans (Details) - Level 3 - Weighted average - PCI loans	Dec. 31, 2019	Dec. 31, 2018
PPC
Fair Value Inputs
Loans, measurement input	0.49	0.48
PPC \| Default Rate
Fair Value Inputs
Loans, measurement input	0.83	0.81
PPC \| Severity Rate
Fair Value Inputs
Loans, measurement input	0.59	0.59
PPC \| Prepayment Rate
Fair Value Inputs
Loans, measurement input	0	0
FNB
Fair Value Inputs
Loans, measurement input	0.04	0.04
FNB \| Default Rate
Fair Value Inputs
Loans, measurement input	0.30	0.34
FNB \| Severity Rate
Fair Value Inputs
Loans, measurement input	0.12	0.12
FNB \| Prepayment Rate
Fair Value Inputs
Loans, measurement input	0.05	0.06
SWS
Fair Value Inputs
Loans, measurement input	0.18	0.20
SWS \| Default Rate
Fair Value Inputs
Loans, measurement input	0.66	0.71
SWS \| Severity Rate
Fair Value Inputs
Loans, measurement input	0.28	0.28
SWS \| Prepayment Rate
Fair Value Inputs
Loans, measurement input	0	0
BORO
Fair Value Inputs
Loans, measurement input	0.25	0.26
BORO \| Default Rate
Fair Value Inputs
Loans, measurement input	0.59	0.63
BORO \| Severity Rate
Fair Value Inputs
Loans, measurement input	0.42	0.42
BORO \| Prepayment Rate
Fair Value Inputs
Loans, measurement input	0	0

Fair Value Measurements - OREO

Fair Value Measurements - OREO (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value
Impairment loans held for investment	$ 111,001				$ 119,011				$ 111,001	$ 119,011
Total Gains (Losses) of impaired loans	(6,880)	$ (47)	$ 672	$ (951)	(6,926)	$ 371	$ (340)	$ 1,807	(7,206)	(5,088)	$ (14,271)
Level 2 \| Estimate of Fair Value \| Other Assets
Fair Value
Other real estate owned	18,200				$ 27,600				18,200	27,600
Nonrecurring \| Estimate of Fair Value
Fair Value
Impairment loans held for investment	65,582								65,582
Other real estate owned	11,560								11,560
Total Gains (Losses) of impaired loans									(4,968)	2,481	(2,402)
Total Gains (Losses) of other real estate owned									(1,387)	$ (2,757)	$ (4,436)
Nonrecurring \| Level 2 \| Estimate of Fair Value
Fair Value
Other real estate owned	11,560								11,560
Nonrecurring \| Level 3 \| Estimate of Fair Value
Fair Value
Impairment loans held for investment	$ 65,582								$ 65,582

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Held to maturity securities	$ 388,930	$ 341,124
Broker-dealer and clearing organization receivables	1,780,280	1,440,287
Financial liabilities:
Broker-dealer and clearing organization payables	1,605,518	1,294,925
Carrying Amount
Financial assets:
Cash and cash equivalents	485,353	644,473
Assets segregated for regulatory purposes	157,436	133,993
Securities purchased under agreements to resell	59,031	61,611
Held to maturity securities	386,326	351,012
Loans held for sale	170,648	135,471
Loans held for investment, net	7,320,264	6,870,972
Broker-dealer and clearing organization receivables	1,780,280	1,440,287
Other assets	71,040	69,720
Financial liabilities:
Deposits	9,032,214	8,536,156
Broker-dealer and clearing organization payables	1,605,518	1,294,925
Short-term borrowings	1,424,010	1,065,807
Debt	350,781	295,884
Other liabilities	8,473	3,482
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	485,353	644,473
Assets segregated for regulatory purposes	157,436	133,993
Securities purchased under agreements to resell	59,031	61,611
Held to maturity securities	388,930	341,124
Loans held for sale	170,648	135,471
Loans held for investment, net	7,567,233	7,024,173
Broker-dealer and clearing organization receivables	1,780,280	1,440,287
Other assets	71,040	69,720
Financial liabilities:
Deposits	9,032,496	8,528,947
Broker-dealer and clearing organization payables	1,605,518	1,294,925
Short-term borrowings	1,424,010	1,065,807
Debt	348,555	293,685
Other liabilities	8,473	3,482
Estimate of Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	485,353	644,473
Assets segregated for regulatory purposes	157,436	133,993
Estimate of Fair Value \| Level 2
Financial assets:
Securities purchased under agreements to resell	59,031	61,611
Held to maturity securities	388,930	341,124
Loans held for sale	170,648	135,471
Loans held for investment, net	576,527	578,363
Broker-dealer and clearing organization receivables	1,780,280	1,440,287
Other assets	69,580	68,573
Financial liabilities:
Deposits	9,032,496	8,528,947
Broker-dealer and clearing organization payables	1,605,518	1,294,925
Short-term borrowings	1,424,010	1,065,807
Debt	348,555	293,685
Other liabilities	8,473	3,482
Estimate of Fair Value \| Level 3
Financial assets:
Loans held for investment, net	6,990,706	6,445,810
Other assets	$ 1,460	$ 1,147

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 20,376	$ 22,946
Additional investments		8,643
Upward adjustments	403	3,663
Impairments and downward adjustments	(1,008)	(4,083)
Dispositions		(10,793)
Balance, end of year	19,771	20,376
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 36,600	$ 35,800

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of fair value of trading securities
Debt Securities, Trading	$ 689,576	$ 745,466
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	43,817	81,667
US Treasury Securities
Schedule of fair value of trading securities
Debt Securities, Trading		7,945
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	24,680	1,494
Residential Mortgage Backed Securities
Schedule of fair value of trading securities
Debt Securities, Trading	331,601	309,455
Commercial mortgage-backed securities
Schedule of fair value of trading securities
Debt Securities, Trading	2,145	4,239
Collateralized Mortgage Obligations
Schedule of fair value of trading securities
Debt Securities, Trading	191,154	206,813
Corporate debt securities
Schedule of fair value of trading securities
Debt Securities, Trading	36,973	59,293
States and political subdivisions
Schedule of fair value of trading securities
Debt Securities, Trading	93,117	126,748
Unit investment trusts
Schedule of fair value of trading securities
Debt Securities, Trading	3,468	19,913
Private-label securitized product
Schedule of fair value of trading securities
Debt Securities, Trading	2,992	5,680
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 3,446	$ 3,886

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Available for sale
Amortized cost	$ 984,211	$ 886,799
Unrealized Gains	15,209	2,640
Unrealized Losses	(1,028)	(13,781)
Fair Value	998,392	875,658
Held to maturity
Amortized cost	386,326	351,012
Unrealized Gains	4,354	365
Unrealized Losses	(1,750)	(10,253)
Held to maturity, fair value	388,930	341,124
Equity Securities
Unrealized net (losses) gains from equity securities	1,200	(900)
Equity, at fair value	20,007	19,679
Recognized net gain (loss) on equity securities	1,900	(3,300)
US Treasury Securities
Available for sale
Amortized cost	9,869	11,552
Unrealized Gains	190	30
Unrealized Losses	(2)	(44)
Fair Value	10,057	11,538
Held to maturity
Amortized cost		9,903
Unrealized Gains		3
Held to maturity, fair value		9,906
Bonds
Available for sale
Amortized cost	84,590	85,492
Unrealized Gains	1,049	552
Unrealized Losses	(64)	(433)
Fair Value	85,575	85,611
Held to maturity
Amortized cost	24,020	39,018
Unrealized Gains	10
Unrealized Losses	(35)	(1,479)
Held to maturity, fair value	23,995	37,539
Residential Mortgage Backed Securities
Available for sale
Amortized cost	460,099	391,428
Unrealized Gains	7,037	608
Unrealized Losses	(147)	(6,962)
Fair Value	466,989	385,074
Held to maturity
Amortized cost	17,776	21,903
Unrealized Gains	295
Unrealized Losses		(263)
Held to maturity, fair value	18,071	21,640
Commercial mortgage-backed securities
Available for sale
Amortized cost	11,488	11,703
Unrealized Gains	543	189
Unrealized Losses		(120)
Fair Value	12,031	11,772
Held to maturity
Amortized cost	161,624	87,065
Unrealized Gains	2,810	271
Unrealized Losses	(655)	(1,462)
Held to maturity, fair value	163,779	85,874
Collateralized Mortgage Obligations
Available for sale
Amortized cost	333,328	281,450
Unrealized Gains	3,179	385
Unrealized Losses	(815)	(5,436)
Fair Value	335,692	276,399
Held to maturity
Amortized cost	113,894	142,474
Unrealized Gains	226
Unrealized Losses	(904)	(5,000)
Held to maturity, fair value	113,216	137,474
Corporate debt securities
Available for sale
Amortized cost	44,868	53,614
Unrealized Gains	1,938	268
Unrealized Losses		(580)
Fair Value	46,806	53,302
States and political subdivisions
Available for sale
Amortized cost	39,969	51,560
Unrealized Gains	1,273	608
Unrealized Losses		(206)
Fair Value	41,242	51,962
Held to maturity
Amortized cost	69,012	50,649
Unrealized Gains	1,013	91
Unrealized Losses	(156)	(2,049)
Held to maturity, fair value	$ 69,869	$ 48,691

Securities - AFS in an Unrealiz

Securities - AFS in an Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item
Number of Securities
Unrealized loss for less than twelve months \| item	56	60
Unrealized loss for twelve months or longer \| item	16	88
Total \| item	72	148
Fair Value
Unrealized loss for less than twelve months	$ 167,533	$ 161,784
Unrealized loss for twelve months or longer	60,387	398,386
Total	227,920	560,170
Unrealized Loss
Unrealized loss for less than twelve months	601	1,250
Unrealized loss for twelve months or longer	427	12,531
Total	$ 1,028	$ 13,781
US Treasury Securities
Number of Securities
Unrealized loss for less than twelve months \| item	1	1
Unrealized loss for twelve months or longer \| item		3
Total \| item	1	4
Fair Value
Unrealized loss for less than twelve months	$ 1,897	$ 981
Unrealized loss for twelve months or longer		3,556
Total	1,897	4,537
Unrealized Loss
Unrealized loss for less than twelve months	2	6
Unrealized loss for twelve months or longer		39
Total	$ 2	$ 45
Bonds
Number of Securities
Unrealized loss for less than twelve months \| item	2	3
Unrealized loss for twelve months or longer \| item		3
Total \| item	2	6
Fair Value
Unrealized loss for less than twelve months	$ 24,937	$ 24,772
Unrealized loss for twelve months or longer		30,472
Total	24,937	55,244
Unrealized Loss
Unrealized loss for less than twelve months	64	5
Unrealized loss for twelve months or longer		428
Total	$ 64	$ 433
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	37	8
Unrealized loss for twelve months or longer \| item	2	27
Total \| item	39	35
Fair Value
Unrealized loss for less than twelve months	$ 36,187	$ 66,791
Unrealized loss for twelve months or longer	13,683	194,228
Total	49,870	261,019
Unrealized Loss
Unrealized loss for less than twelve months	87	432
Unrealized loss for twelve months or longer	58	6,530
Total	$ 145	$ 6,962
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item	1
Unrealized loss for twelve months or longer \| item		1
Total \| item	1	1
Fair Value
Unrealized loss for less than twelve months	$ 9,967
Unrealized loss for twelve months or longer		$ 4,953
Total	9,967	4,953
Unrealized Loss
Unrealized loss for less than twelve months	2
Unrealized loss for twelve months or longer		120
Total	$ 2	$ 120
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months \| item	15	11
Unrealized loss for twelve months or longer \| item	13	28
Total \| item	28	39
Fair Value
Unrealized loss for less than twelve months	$ 94,545	$ 44,394
Unrealized loss for twelve months or longer	46,217	140,483
Total	140,762	184,877
Unrealized Loss
Unrealized loss for less than twelve months	446	498
Unrealized loss for twelve months or longer	369	4,938
Total	$ 815	$ 5,436
Corporate debt securities
Number of Securities
Unrealized loss for less than twelve months \| item		8
Unrealized loss for twelve months or longer \| item		8
Total \| item		16
Fair Value
Unrealized loss for less than twelve months		$ 16,256
Unrealized loss for twelve months or longer		15,665
Total		31,921
Unrealized Loss
Unrealized loss for less than twelve months		282
Unrealized loss for twelve months or longer		297
Total		$ 579
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months \| item		29
Unrealized loss for twelve months or longer \| item	1	18
Total \| item	1	47
Fair Value
Unrealized loss for less than twelve months		$ 8,590
Unrealized loss for twelve months or longer	$ 487	9,029
Total	$ 487	17,619
Unrealized Loss
Unrealized loss for less than twelve months		27
Unrealized loss for twelve months or longer		179
Total		$ 206

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item
Number of Securities
Unrealized loss for less than twelve months \| item	52	12
Unrealized loss for twelve months or longer \| item	12	130
Total \| item	64	142
Fair Value
Unrealized loss for less than twelve months	$ 94,175	$ 21,866
Unrealized loss for twelve months or longer	60,659	278,770
Total	154,834	300,636
Unrealized Losses
Unrealized loss for less than twelve months	1,102	198
Unrealized loss for twelve months or longer	648	10,055
Total	$ 1,750	$ 10,253
Bonds
Number of Securities
Unrealized loss for less than twelve months \| item	2
Unrealized loss for twelve months or longer \| item		4
Total \| item	2	4
Fair Value
Unrealized loss for less than twelve months	$ 9,665
Unrealized loss for twelve months or longer		$ 37,539
Total	9,665	37,539
Unrealized Losses
Unrealized loss for less than twelve months	35
Unrealized loss for twelve months or longer		1,479
Total	$ 35	$ 1,479
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item		1
Unrealized loss for twelve months or longer \| item		3
Total \| item		4
Fair Value
Unrealized loss for less than twelve months		$ 8,411
Unrealized loss for twelve months or longer		13,229
Total		21,640
Unrealized Losses
Unrealized loss for less than twelve months		89
Unrealized loss for twelve months or longer		174
Total		$ 263
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item	8	1
Unrealized loss for twelve months or longer \| item		13
Total \| item	8	14
Fair Value
Unrealized loss for less than twelve months	$ 44,610	$ 4,973
Unrealized loss for twelve months or longer		59,670
Total	44,610	64,643
Unrealized Losses
Unrealized loss for less than twelve months	656	27
Unrealized loss for twelve months or longer		1,435
Total	$ 656	$ 1,462
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months \| item	4	1
Unrealized loss for twelve months or longer \| item	8	24
Total \| item	12	25
Fair Value
Unrealized loss for less than twelve months	$ 23,904	$ 2,051
Unrealized loss for twelve months or longer	59,560	135,423
Total	83,464	137,474
Unrealized Losses
Unrealized loss for less than twelve months	287	26
Unrealized loss for twelve months or longer	617	4,974
Total	$ 904	$ 5,000
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months \| item	38	9
Unrealized loss for twelve months or longer \| item	4	86
Total \| item	42	95
Fair Value
Unrealized loss for less than twelve months	$ 15,996	$ 6,431
Unrealized loss for twelve months or longer	1,099	32,909
Total	17,095	39,340
Unrealized Losses
Unrealized loss for less than twelve months	124	56
Unrealized loss for twelve months or longer	31	1,993
Total	$ 155	$ 2,049

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 10,612
Due after one year through five years	121,052
Due after five years through ten years	29,697
Due after ten years	17,935
Total	179,296
Amortized cost	984,211	$ 886,799
AFS, Fair Value, Rolling Maturity
Due in one year or less	10,660
Due after one year through five years	123,759
Due after five years through ten years	30,572
Due after ten years	18,689
Total	183,680
Fair Value	998,392	875,658
Residential Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	460,099
Amortized cost	460,099	391,428
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	466,989
Fair Value	466,989	385,074
Collateralized Mortgage Obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	333,328
Amortized cost	333,328	281,450
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	335,692
Fair Value	335,692	276,399
Commercial mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	11,488
Amortized cost	11,488	11,703
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	12,031
Fair Value	$ 12,031	$ 11,772

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
HTM, Amortized Cost, Rolling Maturities
Due after one year through five years	$ 25,967
Due after five years through ten years	5,537
Due after ten years	61,528
Total	93,032
Amortized cost	386,326	$ 351,012
HTM, Fair Value, Rolling Maturities
Due after one year through five years	25,955
Due after five years through ten years	5,591
Due after ten years	62,318
Total	93,864
Fair Value	388,930	341,124
Residential Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	17,776
Amortized cost	17,776	21,903
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	18,071
Fair Value	18,071	21,640
Collateralized Mortgage Obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	113,894
Amortized cost	113,894	142,474
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	113,216
Fair Value	113,216	137,474
Commercial mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	161,624
Amortized cost	161,624	87,065
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	163,779
Fair Value	$ 163,779	$ 85,874

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Securities
Realized net gains from trading securities portfolio	$ 20.5	$ 6.2	$ 20.2
Realized net losses from other securities	2.5
Carrying amount of securities pledged	576	612.3
Fair value of securities pledged	583.6	600
Hilltop Broker-Dealers
Securities
Realized net gains from trading securities portfolio	132.7	41.9	$ 62.8
NLC
Securities
Deposit with various state insurance departments	$ 9.3	$ 9.5

Loans Held for Investment and_3

Loans Held for Investment and Allowance for Loan Losses - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Loans
Loans held for investment	$ 7,381,400	$ 6,930,458
Allowance for loan losses	(61,136)	(59,486)	$ (63,686)	$ (54,599)
Loans held for investment, net	7,320,264	6,870,972
Commercial real estate
Loans
Loans held for investment	3,000,523	2,940,120
Allowance for loan losses	(31,595)	(27,100)	(26,413)	(22,262)
Commercial and Industrial
Loans
Loans held for investment	2,025,720	1,752,257
Allowance for loan losses	(17,964)	(21,980)	(23,674)	(21,369)
Construction and land development
Loans
Loans held for investment	940,564	932,909
Allowance for loan losses	(4,878)	(6,061)	(7,844)	(7,002)
1 - 4 family residential
Loans
Loans held for investment	791,020	679,263
Allowance for loan losses	(6,386)	(3,956)	(2,362)	(2,974)
Consumer
Loans
Loans held for investment	47,046	47,546
Allowance for loan losses	(265)	(267)	(311)	(424)
Broker-dealer
Loans
Loans held for investment	576,527	578,363
Allowance for loan losses	$ (48)	$ (122)	$ (353)	$ (155)

Loans Held for Investment and_4

Loans Held for Investment and Allowance for Loan Losses - PCI Loans (Details) - PCI loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Carrying values and the outstanding contractual balances of the PCI loans
Carrying amount	$ 82,331	$ 93,072
Outstanding balance	141,615	172,808
Changes in the accretable yield for the acquired impaired loans
Balance, beginning of year	80,693	98,846	$ 156,847
Additions		340
Reclassifications from nonaccretable difference, net	18,353	26,166	12,946
Disposals of loans	(1,168)	(1,226)	(1,663)
Accretion	(31,875)	(43,433)	(69,284)
Balance, end of year	66,003	80,693	$ 98,846
Nonaccretable difference	$ 49,500	$ 64,200

Loans Held for Investment and_5

Loans Held for Investment and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Impaired loans
Days outstanding loans and leases receivable are generally considered past due	90 days
Non-covered impaired loans
Unpaid Contractual Principal balance	$ 225,274	$ 265,779
Recorded Investment with No Allowance	37,267	47,090
Recorded Investment with Allowance	73,734	71,921
Total Recorded Investment	111,001	119,011
Related Allowance	8,612	3,644
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	115,008	141,587	$ 185,498
Non-accrual loans
Non-accrual loans	31,294	30,539
Interest income recorded on accruing impaired loans	1,600	1,400	1,700
PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	177,664	225,997
Recorded Investment with No Allowance	11,583	23,426
Recorded Investment with Allowance	70,748	69,646
Total Recorded Investment	82,331	93,072
Related Allowance	7,170	2,892
Non-accrual loans
Non-accrual loans	3,800	4,900
Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	47,610	39,782
Recorded Investment with No Allowance	25,684	23,664
Recorded Investment with Allowance	2,986	2,275
Total Recorded Investment	28,670	25,939
Related Allowance	1,442	752
Non-owner occupied
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	14,363	14,533	16,623
Non-accrual loans
Non-accrual loans	3,813	1,226
Non-owner occupied \| PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	28,541	42,668
Recorded Investment with No Allowance	4,254	5,549
Recorded Investment with Allowance	8,592	7,540
Total Recorded Investment	12,846	13,089
Related Allowance	2,659	1,125
Non-owner occupied \| Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	3,895
Recorded Investment with No Allowance	2,790
Total Recorded Investment	2,790
Owner occupied
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	17,477	21,262	25,307
Non-accrual loans
Non-accrual loans	3,495	4,098
Owner occupied \| PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	27,020	36,246
Recorded Investment with No Allowance	2,816	11,657
Recorded Investment with Allowance	9,920	2,967
Total Recorded Investment	12,736	14,624
Related Allowance	1,235	304
Owner occupied \| Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	4,706	5,231
Recorded Investment with No Allowance	3,495	4,098
Total Recorded Investment	3,495	4,098
Commercial and Industrial
Non-covered impaired loans
Unpaid Contractual Principal balance		27,403
Recorded Investment with No Allowance		5,491
Recorded Investment with Allowance		1,068
Total Recorded Investment		6,559
Related Allowance		72
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	18,575	21,143	19,189
Non-accrual loans
Non-accrual loans	15,262	14,870
Commercial and Industrial \| PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	23,281
Recorded Investment with No Allowance	4,131
Recorded Investment with Allowance	1,129
Total Recorded Investment	5,260
Related Allowance	70
Commercial and Industrial \| Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	27,168	22,277
Recorded Investment with No Allowance	10,714	9,891
Recorded Investment with Allowance	2,986	1,740
Total Recorded Investment	13,700	11,631
Related Allowance	1,442	721
Construction and land development
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	2,552	2,880	3,136
Non-accrual loans
Non-accrual loans	1,316	3,278
Construction and land development \| PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	7,327	10,992
Recorded Investment with No Allowance	1	74
Recorded Investment with Allowance	76	390
Total Recorded Investment	77	464
Related Allowance	27	92
Construction and land development \| Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	1,483	3,430
Recorded Investment with No Allowance	1,316	2,711
Recorded Investment with Allowance		535
Total Recorded Investment	1,316	3,246
Related Allowance		31
Secured by Residential Properties
Non-accrual loans
Non-accrual loans held for sale	4,800	3,400
1 - 4 family residential
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	62,002	35,404	5,797
Non-accrual loans
Non-accrual loans	7,382	7,026
1 - 4 family residential \| PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	89,800	106,503
Recorded Investment with No Allowance	381	646
Recorded Investment with Allowance	51,031	57,681
Total Recorded Investment	51,412	58,327
Related Allowance	3,179	1,299
1 - 4 family residential \| Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	10,320	8,695
Recorded Investment with No Allowance	7,343	6,922
Total Recorded Investment	7,343	6,922
Consumer
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans	39	117	361
Non-accrual loans
Non-accrual loans	26	41
Consumer \| PCI loans
Non-covered impaired loans
Unpaid Contractual Principal balance	1,695	2,185
Recorded Investment with No Allowance		9
Total Recorded Investment		9
Consumer \| Non-PCI
Non-covered impaired loans
Unpaid Contractual Principal balance	38	149
Recorded Investment with No Allowance	26	42
Total Recorded Investment	$ 26	42
Covered Loan
Average investment in non-covered impaired loans
Average investment in non-covered impaired loans		$ 46,248	$ 115,085

Loans Held for Investment and_6

Loans Held for Investment and Allowance for Loan Losses - TDRs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018loan	Dec. 31, 2017USD ($)loan
TDRs, Non-covered loans
Number of TDR loans granted \| loan		0
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due \| loan	0	0	2
TDR modifications, in which a payment was at least 30 days past due			$ 2,136
TDR with payment at least 30 days past due			$ 1,963
AB Note \| Minimum \| PlainsCapital (the Bank)
TDRs, Non-covered loans
Number of loans into which a single loan may be reconfigured \| loan	2
Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted \| loan	4		4
TDR at extension	$ 9,618		$ 6,787
TDR modification, end of period	$ 8,566		$ 6,426
Owner occupied
TDRs, Non-covered loans
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due \| loan			1
TDR modifications, in which a payment was at least 30 days past due			$ 1,481
TDR with payment at least 30 days past due			$ 1,352
Owner occupied \| Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted \| loan			2
TDR at extension			$ 4,775
TDR modification, end of period			$ 4,629
Commercial and Industrial \| Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted \| loan	4		1
TDR at extension	$ 9,618		$ 1,357
TDR modification, end of period	$ 8,566		$ 1,186
Construction and land development
TDRs, Non-covered loans
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due \| loan			1
TDR modifications, in which a payment was at least 30 days past due			$ 655
TDR with payment at least 30 days past due			$ 611
Construction and land development \| Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted \| loan			1
TDR at extension			$ 655
TDR modification, end of period			$ 611

Loans Held for Investment and_7

Loans Held for Investment and Allowance for Loan Losses - Aging (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	$ 39,833	$ 35,173
Current Loans	7,259,236	6,802,213
Loans held for investment	7,381,400	6,930,458
Accruing Loans Past Due 90 Days or More	3	78
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	23,498	14,120
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	5,182	3,879
Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	11,153	17,174
PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment	82,331	93,072
Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	4,559	1,373
Current Loans	1,691,947	1,708,160
Loans held for investment	1,709,352	1,722,622
Non-owner occupied \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	1,769	1,174
Non-owner occupied \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans		199
Non-owner occupied \| Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	2,790
Non-owner occupied \| PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment	12,846	13,089
Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	4,298	5,537
Current Loans	1,274,137	1,197,337
Loans held for investment	1,291,171	1,217,498
Accruing Loans Past Due 90 Days or More		75
Owner occupied \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	1,741	1,364
Owner occupied \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	125
Owner occupied \| Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	2,432	4,173
Owner occupied \| PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment	12,736	14,624
Commercial and Industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	10,599	13,892
Current Loans	2,009,861	1,731,806
Loans held for investment	2,025,720	1,752,257
Accruing Loans Past Due 90 Days or More	3	3
Commercial and Industrial \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	5,672	1,792
Commercial and Industrial \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	1,735	1,049
Commercial and Industrial \| Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	3,192	11,051
Commercial and Industrial \| PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment	5,260	6,559
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	9,407	3,549
Current Loans	931,080	928,896
Loans held for investment	940,564	932,909
Construction and land development \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	7,580	3,549
Construction and land development \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	1,827
Construction and land development \| PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment	77	464
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	10,481	10,421
Current Loans	729,127	610,515
Loans held for investment	791,020	679,263
1 - 4 family residential \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	6,281	5,987
1 - 4 family residential \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	1,461	2,484
1 - 4 family residential \| Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	2,739	1,950
1 - 4 family residential \| PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment	51,412	58,327
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	489	401
Current Loans	46,557	47,136
Loans held for investment	47,046	47,546
Consumer \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	455	254
Consumer \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	34	147
Consumer \| PCI loans
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans held for investment		9
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Current Loans	576,527	578,363
Loans held for investment	576,527	578,363
Prime Lending \| U.S. Government Agencies
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Accruing Loans Past Due 90 Days or More	102,700	83,100
Unpaid principal balance loans past due 90 days or more	$ 104,000	$ 84,000

Loans Held for Investment and_8

Loans Held for Investment and Allowance for Loan Losses - Internal Risk Grades (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Internal risk grades of non-covered loans
Loans held for investment	$ 7,381,400	$ 6,930,458
Pass
Internal risk grades of non-covered loans
Loans held for investment	7,078,896	6,681,855
Special Mention
Internal risk grades of non-covered loans
Loans held for investment	16,783	17,796
Substandard
Internal risk grades of non-covered loans
Loans held for investment	203,390	137,735
Non-owner occupied
Internal risk grades of non-covered loans
Loans held for investment	1,709,352	1,722,622
Non-owner occupied \| Pass
Internal risk grades of non-covered loans
Loans held for investment	1,638,682	1,673,424
Non-owner occupied \| Substandard
Internal risk grades of non-covered loans
Loans held for investment	57,824	36,109
Owner occupied
Internal risk grades of non-covered loans
Loans held for investment	1,291,171	1,217,498
Owner occupied \| Pass
Internal risk grades of non-covered loans
Loans held for investment	1,238,855	1,175,225
Owner occupied \| Special Mention
Internal risk grades of non-covered loans
Loans held for investment	810	2,083
Owner occupied \| Substandard
Internal risk grades of non-covered loans
Loans held for investment	38,770	25,566
Commercial and Industrial
Internal risk grades of non-covered loans
Loans held for investment	2,025,720	1,752,257
Commercial and Industrial \| Pass
Internal risk grades of non-covered loans
Loans held for investment	1,917,450	1,677,033
Commercial and Industrial \| Special Mention
Internal risk grades of non-covered loans
Loans held for investment	15,973	15,320
Commercial and Industrial \| Substandard
Internal risk grades of non-covered loans
Loans held for investment	87,037	53,345
Construction and land development
Internal risk grades of non-covered loans
Loans held for investment	940,564	932,909
Construction and land development \| Pass
Internal risk grades of non-covered loans
Loans held for investment	937,967	929,130
Construction and land development \| Substandard
Internal risk grades of non-covered loans
Loans held for investment	2,520	3,315
1 - 4 family residential
Internal risk grades of non-covered loans
Loans held for investment	791,020	679,263
1 - 4 family residential \| Pass
Internal risk grades of non-covered loans
Loans held for investment	722,657	601,264
1 - 4 family residential \| Special Mention
Internal risk grades of non-covered loans
Loans held for investment		393
1 - 4 family residential \| Substandard
Internal risk grades of non-covered loans
Loans held for investment	16,951	19,279
Consumer
Internal risk grades of non-covered loans
Loans held for investment	47,046	47,546
Consumer \| Pass
Internal risk grades of non-covered loans
Loans held for investment	46,758	47,416
Consumer \| Substandard
Internal risk grades of non-covered loans
Loans held for investment	288	121
Broker-dealer
Internal risk grades of non-covered loans
Loans held for investment	576,527	578,363
Broker-dealer \| Pass
Internal risk grades of non-covered loans
Loans held for investment	576,527	578,363
PCI loans
Internal risk grades of non-covered loans
Loans held for investment	82,331	93,072
PCI loans \| Non-owner occupied
Internal risk grades of non-covered loans
Loans held for investment	12,846	13,089
PCI loans \| Owner occupied
Internal risk grades of non-covered loans
Loans held for investment	12,736	14,624
PCI loans \| Commercial and Industrial
Internal risk grades of non-covered loans
Loans held for investment	5,260	6,559
PCI loans \| Construction and land development
Internal risk grades of non-covered loans
Loans held for investment	77	464
PCI loans \| 1 - 4 family residential
Internal risk grades of non-covered loans
Loans held for investment	$ 51,412	58,327
PCI loans \| Consumer
Internal risk grades of non-covered loans
Loans held for investment		$ 9

Loans Held for Investment and_9

Loans Held for Investment and Allowance for Loan Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Changes in the allowance for loan losses
Balance, beginning of the year				$ 59,486				$ 63,686	$ 59,486	$ 63,686
Balance, beginning of the year				59,486				63,686	59,486	63,686	$ 54,599
Provision for loan losses	$ 6,880	$ 47	$ (672)	951	$ 6,926	$ (371)	$ 340	(1,807)	7,206	5,088	14,271
Loans charged off									(8,489)	(13,777)	(7,350)
Recoveries on charged off loans									2,933	4,489	2,166
Balance, end of the year	61,136				59,486				61,136	59,486	63,686
Balance, end of the year	61,136				59,486				61,136	59,486	63,686
Loan portfolio distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment												$ 20,432	$ 17,891
Loans collectively evaluated for impairment												7,278,637	6,819,495
Loans held for investment												7,381,400	6,930,458
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment, allowance												1,442	752
Loans collectively evaluated for impairment, allowance												52,524	55,842
Total loans, allowance	61,136			59,486	59,486			63,686	59,486	63,686	63,686	61,136	59,486
Commercial real estate
Changes in the allowance for loan losses
Balance, beginning of the year				27,100				27,232	27,100	27,232
Balance, beginning of the year				27,100				26,413	27,100	26,413	22,262
Provision for loan losses									5,649	668	4,320
Loans charged off									(1,160)	(800)	(193)
Recoveries on charged off loans									6		24
Balance, end of the year	31,595				27,100				31,595	27,100	27,232
Balance, end of the year	31,595				27,100				31,595	27,100	26,413
Loan portfolio distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment												5,698	3,909
Loans collectively evaluated for impairment												2,969,243	2,908,498
Loans held for investment												3,000,523	2,940,120
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans collectively evaluated for impairment, allowance												27,701	25,671
Total loans, allowance	31,595			27,100	27,100			26,413	27,100	27,100	26,413	31,595	27,100
Commercial and Industrial
Changes in the allowance for loan losses
Balance, beginning of the year				21,980				23,698	21,980	23,698
Balance, beginning of the year				21,980				23,674	21,980	23,674	21,369
Provision for loan losses									(921)	6,750	6,725
Loans charged off									(5,924)	(12,741)	(6,253)
Recoveries on charged off loans									2,829	4,273	1,833
Balance, end of the year	17,964				21,980				17,964	21,980	23,698
Balance, end of the year	17,964				21,980				17,964	21,980	23,674
Loan portfolio distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment												12,889	10,741
Loans collectively evaluated for impairment												2,007,571	1,734,957
Loans held for investment												2,025,720	1,752,257
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment, allowance												1,442	721
Loans collectively evaluated for impairment, allowance												16,452	21,187
Total loans, allowance	17,964			21,980	21,980			23,674	21,980	21,980	23,674	17,964	21,980
Construction and land development
Changes in the allowance for loan losses
Balance, beginning of the year				6,061				7,847	6,061	7,847
Balance, beginning of the year				6,061				7,844	6,061	7,844	7,002
Provision for loan losses									(1,183)	(1,792)	848
Loans charged off											(13)
Recoveries on charged off loans										6	7
Balance, end of the year	4,878				6,061				4,878	6,061	7,847
Balance, end of the year	4,878				6,061				4,878	6,061	7,844
Loan portfolio distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment												1,237	3,241
Loans collectively evaluated for impairment												939,250	929,204
Loans held for investment												940,564	932,909
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment, allowance													31
Loans collectively evaluated for impairment, allowance												4,851	5,938
Total loans, allowance	4,878			6,061	6,061			7,844	6,061	6,061	7,844	4,878	6,061
1 - 4 family residential
Changes in the allowance for loan losses
Balance, beginning of the year				3,956				4,245	3,956	4,245
Balance, beginning of the year				3,956				2,362	3,956	2,362	2,974
Provision for loan losses									3,276	(292)	(701)
Loans charged off									(907)	(143)	(112)
Recoveries on charged off loans									61	146	201
Balance, end of the year	6,386				3,956				6,386	3,956	4,245
Balance, end of the year	6,386				3,956				6,386	3,956	2,362
Loan portfolio distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment												608
Loans collectively evaluated for impairment												739,000	620,936
Loans held for investment												791,020	679,263
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans collectively evaluated for impairment, allowance												3,207	2,657
Total loans, allowance	6,386			3,956	3,956			2,362	3,956	3,956	2,362	6,386	3,956
Consumer
Changes in the allowance for loan losses
Balance, beginning of the year				267				311	267	311
Balance, beginning of the year				267				311	267	311	424
Provision for loan losses									459	(15)	16
Loans charged off									(498)	(93)	(208)
Recoveries on charged off loans									37	64	79
Balance, end of the year	265				267				265	267	311
Balance, end of the year	265				267				265	267	311
Loan portfolio distributed by portfolio segment and impairment methodology
Loans collectively evaluated for impairment												47,046	47,537
Loans held for investment												47,046	47,546
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans collectively evaluated for impairment, allowance												265	267
Total loans, allowance	265			267	267			311	267	267	311	265	267
Broker-dealer
Changes in the allowance for loan losses
Balance, beginning of the year				122				353	122	353
Balance, beginning of the year				122				353	122	353	155
Provision for loan losses									(74)	(231)	198
Balance, end of the year	48				122				48	122	353
Balance, end of the year	48				122				48	122	353
Loan portfolio distributed by portfolio segment and impairment methodology
Loans collectively evaluated for impairment												576,527	578,363
Loans held for investment												576,527	578,363
Allowance for loan losses distributed by portfolio segment and impairment methodology
Loans collectively evaluated for impairment, allowance												48	122
Total loans, allowance	48			122	122			353	122	122	353	48	122
Covered Loan
Changes in the allowance for loan losses
Balance, beginning of the year								2,729		2,729	413
Provision for loan losses											2,865
Loans charged off											(571)
Recoveries on charged off loans											22
Balance, end of the year											2,729
Allowance for loan losses distributed by portfolio segment and impairment methodology
Total loans, allowance								$ 2,729		2,729	$ 2,729
PCI loans
Changes in the allowance for loan losses
Balance, beginning of the year				2,892					2,892
Balance, end of the year	7,170				2,892				7,170	2,892
Loan portfolio distributed by portfolio segment and impairment methodology
Loans held for investment												82,331	93,072
Allowance for loan losses distributed by portfolio segment and impairment methodology
Total loans, allowance	7,170			2,892	2,892				2,892	2,892		7,170	2,892
PCI loans \| Commercial real estate
Changes in the allowance for loan losses
Balance, beginning of the year				1,429					1,429
Balance, end of the year	3,894				1,429				3,894	1,429
Loan portfolio distributed by portfolio segment and impairment methodology
Loans held for investment												25,582	27,713
Allowance for loan losses distributed by portfolio segment and impairment methodology
Total loans, allowance	3,894			1,429	1,429				1,429	1,429		3,894	1,429
PCI loans \| Commercial and Industrial
Changes in the allowance for loan losses
Balance, beginning of the year				72					72
Balance, end of the year	70				72				70	72
Loan portfolio distributed by portfolio segment and impairment methodology
Loans held for investment												5,260	6,559
Allowance for loan losses distributed by portfolio segment and impairment methodology
Total loans, allowance	70			72	72				72	72		70	72
PCI loans \| Construction and land development
Changes in the allowance for loan losses
Balance, beginning of the year				92					92
Balance, end of the year	27				92				27	92
Loan portfolio distributed by portfolio segment and impairment methodology
Loans held for investment												77	464
Allowance for loan losses distributed by portfolio segment and impairment methodology
Total loans, allowance	27			92	92				92	92		27	92
PCI loans \| 1 - 4 family residential
Changes in the allowance for loan losses
Balance, beginning of the year				1,299					1,299
Balance, end of the year	3,179				1,299				3,179	1,299
Loan portfolio distributed by portfolio segment and impairment methodology
Loans held for investment												51,412	58,327
Allowance for loan losses distributed by portfolio segment and impairment methodology
Total loans, allowance	$ 3,179			$ 1,299	$ 1,299				$ 1,299	$ 1,299		3,179	1,299
PCI loans \| Consumer
Loan portfolio distributed by portfolio segment and impairment methodology
Loans held for investment													$ 9
Originated Financing Receivable
Allowance for loan losses
Rolling period considered for average net loss rate to calculate historical loss factors									3 years
Originated Financing Receivable \| Minimum
Loan portfolio distributed by portfolio segment and impairment methodology
Loans individually evaluated for impairment												$ 500

Covered Assets and Indemnific_3

Covered Assets and Indemnification Asset - Indemnification Asset (Details) - PlainsCapital (the Bank) - USD ($) $ in Thousands	Oct. 17, 2018	Sep. 13, 2013
Termination Agreement With FDIC
Loans
FDIC, collections received	$ 6,260
FNB \| Covered
Loans
Percentage of net losses to be absorbed by FDIC on the first $240.4 million of net losses incurred as per the loss sharing agreement		80.00%
Threshold amount of net losses incurred for 80% of net losses to be absorbed by FDIC as per the loss sharing agreement, first layer		$ 240,400
Percentage of net losses to be absorbed by FDIC in excess of $240.4 million up to and including $365.7 million of net losses incurred as per the loss sharing agreement		0.00%
Percentage of net losses to be absorbed by FDIC in excess of $365.7 million of net losses incurred as per the loss sharing agreement		80.00%
Threshold amount of net losses incurred for 0% of net losses to be absorbed by FDIC as per the loss sharing agreement, second layer		$ 365,700
Threshold limit of subsequent recoveries reimbursable to the FDIC under the loss share agreement		$ 0
Period for which payment is required to be made to the FDIC of true-up amount		10 years
FNB \| Covered \| Commercial Loan [Member]
Loans
Period of loss-sharing agreements in effect		5 years
Period of loss recovery provisions in effect		8 years
FNB \| Covered \| Single Family Residential Loans [Member]
Loans
Period of loss-sharing agreements in effect		10 years
Period of loss recovery provisions in effect		10 years

Covered Assets and Indemnific_4

Covered Assets and Indemnification Asset - Covered OREO (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Activity in covered OREO
Balance, beginning of year	$ 36,744	$ 51,642
Additions to covered OREO	5,284	6,700
Dispositions of covered OREO	(10,145)	(17,866)
Valuation adjustments in the period	(2,027)	(3,732)
Transfer to other assets as a result of loss-share termination	$ (29,856)
Balance, end of year		$ 36,744

Covered Assets and Indemnific_5

Covered Assets and Indemnification Asset - FDIC Indemnification Asset (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Activity in the FDIC Indemnification Asset
Balance, beginning of period		$ 29,340	$ 71,313
FDIC Indemnification Asset accretion (amortization)		(6,509)	(17,083)
Transfers to due from FDIC and other			(24,890)
FDIC loss share termination		$ (22,831)
Balance, end of period			$ 29,340
Termination Agreement With FDIC \| Settlement Agreement with DOJ And HUD
Activity in the FDIC Indemnification Asset
FDIC loss share termination	$ (22,800)
Cash received from FDIC upon termination	6,260
Reversal of FDIC true-up accrual	$ 16,600

Cash and Due from Banks (Detail

Cash and Due from Banks (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and Due from Banks
Cash on hand	$ 39,590	$ 47,621
Clearings and collection items	129,055	83,949
Deposits at Federal Reserve Bank	232,019	425,770
Deposits at Federal Home Loan Bank	1,458	1,595
Deposits in FDIC-insured institutions	82,837	85,138
Cash and due from banks	484,959	644,073	$ 486,977
Interest-bearing deposits	$ 271,500	$ 469,400

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Premises and Equipment
Premises and equipment, gross	$ 415,929	$ 406,865
Less accumulated depreciation and amortization	(195,947)	(169,492)
Premises and equipment, net	219,982	237,373
Finance Lease Right of Use Asset Cost	7,780
Assets recorded under capital leases		7,800
Accumulated amortization for assets under capital leases	4,200
Accumulated amortization for assets under capital leases		3,600
Rental income	2,700	1,400	$ 1,800
Depreciation and amortization expense	29,600	33,100	$ 34,600
Land and Building
Premises and Equipment
Premises and equipment, gross	130,312	147,783
Furniture and Fixtures
Premises and Equipment
Premises and equipment, gross	$ 285,617	$ 259,082

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill and Other (Details) - USD ($) $ in Thousands	Aug. 01, 2018	Nov. 30, 2012	Jan. 31, 2007	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Other Intangible Assets
Carrying amount of goodwill				$ 291,435	$ 291,435
Other intangible assets, net				$ 30,155	$ 38,005
NLC
Goodwill and Other Intangible Assets
Estimated fair value of indefinite lived intangible assets related to state licenses acquired as a part of the NLC acquisition			$ 3,000
Goodwill in connection with acquisition			$ 24,000
PPC
Goodwill and Other Intangible Assets
Goodwill in connection with acquisition		$ 227,800
BORO
Goodwill and Other Intangible Assets
Carrying amount of goodwill	$ 39,627
Goodwill in connection with acquisition	$ 39,600

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 98,240	$ 105,580
Accumulated Amortization	(71,085)	(70,575)
Net Intangible Assets	27,155	35,005
Amortization expense related to intangible assets	7,850	8,426	$ 8,263
Core Deposits
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	48,930	48,930
Accumulated Amortization	(36,576)	(31,062)
Net Intangible Assets	$ 12,354	$ 17,868
Core Deposits \| Minimum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	4 years	4 years
Core Deposits \| Maximum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	12 years	12 years
Trademarks and Trade Names
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 20,000	$ 20,000
Accumulated Amortization	(9,825)	(8,844)
Net Intangible Assets	$ 10,175	$ 11,156
Trademarks and Trade Names \| Minimum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	15 years	15 years
Trademarks and Trade Names \| Maximum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	20 years	20 years
Noncompete Agreements
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 4,310	$ 11,650
Accumulated Amortization	$ (4,310)	$ (11,650)
Noncompete Agreements \| Minimum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	4 years	4 years
Noncompete Agreements \| Maximum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	6 years	6 years
Customer contracts and relationships
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 21,400	$ 21,400
Accumulated Amortization	(16,776)	(15,465)
Net Intangible Assets	$ 4,624	$ 5,935
Customer contracts and relationships \| Minimum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	12 years	12 years
Customer contracts and relationships \| Maximum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	14 years	14 years
Agent relationships
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 3,600	$ 3,600
Accumulated Amortization	(3,598)	(3,554)
Net Intangible Assets	$ 2	$ 46
Estimated Useful Life	13 years	13 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Estimated aggregate future amortization expense for intangible assets
2020	$ 6,538
2021	5,313
2022	3,987
2023	2,860
2024	1,825
Thereafter	6,632
Net Intangible Assets	$ 27,155	$ 35,005

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - MSR - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in fair value of mortgage servicing rights
Balance, beginning of year	$ 66,102	$ 54,714	$ 61,968
Additions	13,755	25,028	16,401
Sales		(9,303)	(17,499)
Changes in fair value: Due to changes in model inputs or assumptions	(16,054)	159	(1,722)
Changes in fair value: Due to customer payoffs	(8,299)	(4,496)	(4,434)
Balance, end of year	55,504	66,102	$ 54,714
Mortgage loans serviced for others	$ 4,948,441	$ 5,086,461
MSR asset as a percentage of serviced mortgage loans	1.12%	1.30%
Key Assumptions
Weighted average constant prepayment rate (as a percent)	13.16%	10.51%
Weighted average discount rate (as a percent)	11.14%	11.11%
Weighted average life (in years)	6 years	7 years 1 month 6 days

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - MSR - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (3,072)	$ (2,512)
Constant prepayment rate: Impact of 20% adverse change	(5,943)	(4,980)
Discount rate: Impact of 10% adverse change	(2,094)	(2,677)
Discount rate: Impact of 20% adverse change	(4,028)	(5,139)
Contractually specified servicing fees, late fees and ancillary fees	$ 25,300	$ 23,300	$ 20,700

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deposits
Noninterest-bearing demand	$ 2,769,556	$ 2,560,750
Interest-bearing:
NOW accounts	1,552,209	1,358,196
Money market	2,641,116	2,725,541
Brokered - money market	5,000	5,000
Demand	329,405	393,685
Savings	199,076	184,700
Time	1,505,375	1,308,284
Brokered - time	30,477
Total deposits	9,032,214	$ 8,536,156
Time deposits that meet or exceed FDIC insurance limit	798,900
Scheduled maturities of interest-bearing time deposits
2020	1,172,822
2021	183,529
2022	118,529
2023	44,246
2024 and thereafter	16,726
Time deposits	$ 1,535,852

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	12 Months Ended
Short-term Borrowings (Details) $ in Thousands	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Short-term borrowings
Short-term borrowings	$ 1,424,010	$ 1,065,807
Hilltop Broker-Dealers
Short-term borrowings
Weighted average interest rate (as a percent)	2.52%	3.35%
Federal Funds Purchased.
Short-term borrowings
Short-term borrowings	$ 81,625	$ 100,100
Securities Sold under Agreements to Repurchase
Short-term borrowings
Short-term borrowings	612,125	576,707
FHLB notes
Short-term borrowings
Short-term borrowings	600,000	200,000
Average balance during the year	$ 329,356	$ 214,110	$ 390,616
Average interest rate during the year	2.16%	2.09%	1.08%
Maximum month-end balance during the year	$ 700,000	$ 675,000	$ 850,000
Average interest rate at end of year (as a percent)	1.56%	2.65%
Amount of available collateral	$ 3,900,000
FHLB notes \| Maximum
Short-term borrowings
Maturity term of debt	365 days
Short Term Bank Loans.
Short-term borrowings
Short-term borrowings	$ 111,000	$ 189,000
Commercial paper
Short-term borrowings
Short-term borrowings	$ 19,260
Commercial paper \| Hilltop Securities
Short-term borrowings
Number of commercial paper programs initiated \| item	2
Weighted average interest rate (as a percent)	2.208%
Debt instrument, collateral	$ 20,900
Commercial paper \| Hilltop Securities \| Minimum
Short-term borrowings
Maturity term of debt	14 days
Commercial paper \| Hilltop Securities \| Maximum
Short-term borrowings
Maturity term of debt	270 days
Commercial paper \| Hilltop Securities \| Weighted average
Short-term borrowings
Maturity term of debt	90 days
Series 2019-1 CP Notes \| Hilltop Securities
Short-term borrowings
Maximum borrowing capacity	$ 300,000
Series 2019-2 CP Notes \| Hilltop Securities
Short-term borrowings
Maximum borrowing capacity	200,000
Federal Funds Purchased and Securities Sold under Agreements to Repurchase
Short-term borrowings
Average balance during the year	$ 605,858	$ 701,622	$ 588,847
Average interest rate during the year	2.48%	1.96%	1.06%
Maximum month-end balance during the year	$ 693,750	$ 849,568	$ 904,704
Average interest rate at end of year (as a percent)	1.97%	2.43%
Securities underlying the agreements at end of period: Carrying value	$ 612,515	$ 587,609
Securities underlying the agreements at end of period: Estimated fair value	$ 661,023	$ 618,231

Notes Payable (Details)

Notes Payable (Details) $ in Thousands	Jun. 22, 2015	Apr. 09, 2015USD ($)	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Apr. 28, 2015USD ($)
Debt Instrument
Notes payable			$ 283,769	$ 228,872
Number ABAs out of compliance \| item			2
Series B Preferred Stock [Member]
Debt Instrument
Aggregate liquidation value					$ 114,100
Unpaid dividend					$ 400
Senior Notes due April 2025
Debt Instrument
Notes payable			$ 148,768	148,607
Unamortized discount			1,232	1,393
Period before maturity for redemption of Senior Notes	3 months
Percentage of redemption price	100.00%
Interest rate (as a percent)	5.00%
Senior Notes due April 2025 \| Private Placement
Debt Instrument
Aggregate principal amount		$ 150,000
Net proceeds from the offering, after deducting estimated fee and expenses and the initial purchaser' discounts		$ 148,000
Interest rate (as a percent)		5.00%
FHLB notes
Debt Instrument
Notes payable			28,848	4,391
Unamortized premium			$ 146	222
Weighted average interest rate			2.18%
Debt instrument, collateral			$ 3,900,000
FHLB notes \| Minimum
Debt Instrument
Interest rate (as a percent)			1.96%
FHLB notes \| Maximum
Debt Instrument
Interest rate (as a percent)			5.70%
NLIC note payable due May 2033
Debt Instrument
Notes payable			$ 10,000	10,000
NLIC note payable due May 2033 \| three-month LIBOR
Debt Instrument
Margin on interest rate (as a percent)			4.10%
Interest rate at year end (as a percent)			6.01%
NLIC note payable due September 2033
Debt Instrument
Notes payable			$ 10,000	10,000
NLIC note payable due September 2033 \| three-month LIBOR
Debt Instrument
Margin on interest rate (as a percent)			4.05%
Interest rate at year end (as a percent)			5.96%
ASIC note payable due April 2034
Debt Instrument
Notes payable			$ 7,500	7,500
ASIC note payable due April 2034 \| three-month LIBOR
Debt Instrument
Margin on interest rate (as a percent)			4.05%
Interest rate at year end (as a percent)			5.96%
Ventures Management lines of credit
Debt Instrument
Notes payable			$ 78,653	$ 48,374
Maximum borrowing capacity			150,000
Outstanding borrowing			$ 95,000
Calculated index rate (as a percent)			3.31%
Single unaffiliated bank
Debt Instrument
Maximum borrowing capacity			$ 100,000
Bank
Debt Instrument
Maximum borrowing capacity			50,000
Outstanding borrowing			$ 16,400
Bank \| Minimum
Debt Instrument
Interest rate (as a percent)			3.25%
Bank \| Maximum
Debt Instrument
Interest rate (as a percent)			3.75%
NLIC \| Insurance Notes Payable
Debt Instrument
Statutory surplus of NLIC and ASIC			$ 30,000
ASIC \| Insurance Notes Payable
Debt Instrument
Statutory surplus of NLIC and ASIC			$ 15,000

Notes Payable - Scheduled Matur

Notes Payable - Scheduled Maturities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Scheduled maturities
2020	$ 80,868
2021	413
Thereafter	203,573
Total Notes Payable	$ 284,854

Lease - Narrative (Details)

Lease - Narrative (Details)	12 Months Ended
Lease - Narrative (Details)	Dec. 31, 2019
Leases
Option to extend period - Operating	10 years
Option to extend period - Finance	10 years
Option to extend - Operating	true
Option to extend - Finance	true
Option to terminate period - Operating	1 year
Option to terminate period - Finance	1 year
Option to terminate - Operating	true
Option to terminate - Finance	true

Lease - Supplemental balance sh

Lease - Supplemental balance sheet information (Details) $ in Thousands	Dec. 31, 2019USD ($)
Finance leases:
Premises and equipment	$ 7,780
Accumulated depreciation	(4,178)
Premises and equipment, net	$ 3,602
Financial position	us-gaap:PropertyPlantAndEquipmentNet

Lease - Components of lease cos

Lease - Components of lease costs (Details) $ in Thousands	12 Months Ended
Lease - Components of lease costs (Details) $ in Thousands	Dec. 31, 2019USD ($)
Components of operating lease costs
Operating lease cost	$ 44,331
Less operating lease and sublease income	(2,657)
Net operating lease cost	41,674
Amortization of ROU assets	590
Interest on lease liabilities	596
Total finance lease cost	$ 1,186

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases
Operating cash flows from operating leases	$ 37,527
Operating cash flows from finance leases	587
Financing cash flows from finance leases	603
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 27,055

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Dec. 31, 2019
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 10 months 24 days
Finance - Weighted Average Remaining Lease Term (Years)	6 years 6 months
Operating - Weighted Average Discount Rate	5.29%
Finance - Weighted Average Discount Rate	4.79%

Lease - Lease maturities - ASC

Lease - Lease maturities - ASC 842 (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating leases maturities
2020	$ 35,676
2021	28,974
2022	22,942
2023	18,114
2024	11,847
Thereafter	33,879
Total minimum lease payments	151,432
Less amount representing interest	(23,030)
Lease liabilities	128,402
Finance Leases maturities:
2020	1,197
2021	1,212
2022	1,241
2023	1,280
2024	1,163
Thereafter	2,297
Total minimum lease payments	8,390
Less amount representing interest	(2,895)
Lease liabilities	$ 5,495

Lease - Operating leases that h

Lease - Operating leases that have not yet commenced (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases
Additional operating leases that have not yet commenced	$ 0
Aggregate remaining lease obligation	151,432
Related party
Leases
Minimum annual lease payment	500
Aggregate remaining lease obligation	$ 4,600

Lease - Lease maturities - AS_2

Lease - Lease maturities - ASC 840 (Details) $ in Thousands	Dec. 31, 2018USD ($)
Future minimum lease payments under operating leases
2019	$ 36,171
2020	29,109
2021	21,058
2022	16,386
2023	12,361
Thereafter	18,264
Total minimum lease payments	133,349
Future minimum lease payments under capital leases
2019	1,186
2020	1,197
2021	1,212
2022	1,241
2023	1,280
Thereafter	3,460
Total minimum lease payments	9,576
Amount representing interest	(1,221)
Present value of minimum lease payments	$ 8,355

Junior Subordinated Debenture_3

Junior Subordinated Debentures and Trust Preferred Securities (Details)	12 Months Ended
	Dec. 31, 2019USD ($)item	Feb. 22, 2008USD ($)	Sep. 17, 2003USD ($)	Mar. 26, 2003USD ($)	Jul. 31, 2001USD ($)
PPC
Junior subordinated debentures and trust preferred securities
Number of statutory trusts owned by subsidiary \| item	4
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Junior Subordinated Debt \| Four statutory trusts
Junior subordinated debentures and trust preferred securities
Stated term	30 years
Average interest rate (as a percent)	5.14%
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Junior Subordinated Debt \| Four statutory trusts \| three-month LIBOR
Junior subordinated debentures and trust preferred securities
Margin on interest rate	3-month LIBOR
Average spread on variable rate basis (as a percent)	3.22%
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Junior Subordinated Debt \| P C C Statutory Trust I
Junior subordinated debentures and trust preferred securities
Amount					$ 18,042,000
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Junior Subordinated Debt \| P C C Statutory Trust I I
Junior subordinated debentures and trust preferred securities
Amount				$ 18,042,000
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Junior Subordinated Debt \| P C C Statutory Trust I I I
Junior subordinated debentures and trust preferred securities
Amount			$ 15,464,000
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Junior Subordinated Debt \| PCC Statutory Trust IV
Junior subordinated debentures and trust preferred securities
Amount		$ 15,464,000
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Preferred Class A [Member] \| Four statutory trusts
Junior subordinated debentures and trust preferred securities
Floating rate preferred securities issued by the trusts	$ 65,000,000
PPC \| Variable Interest Entity, Not Primary Beneficiary \| Common Class A [Member] \| Four statutory trusts
Junior subordinated debentures and trust preferred securities
Floating rate preferred securities issued by the trusts	$ 2,012,000
PPC \| CONNECTICUT
Junior subordinated debentures and trust preferred securities
Number of statutory trusts owned by subsidiary, which were formed under laws of state \| item	3
PCC Statutory Trust IV \| Delaware
Junior subordinated debentures and trust preferred securities
Number of statutory trusts owned by subsidiary, which were formed under laws of state \| item	1

Income Taxes - Provision (Detai

Income Taxes - Provision (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Income Taxes - Provision (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal									$ 61,934	$ 19,504	$ 63,769
State									9,253	2,349	5,440
Total									71,187	21,853	69,209
Deferred:
Federal									(2,500)	11,352	40,176
State									(1,355)	1,845	757
Total									(3,855)	13,197	40,933
Income tax provision (benefit)	$ 15,045	$ 22,750	$ 17,951	$ 11,586	$ 8,928	$ 7,600	$ 11,034	$ 7,488	$ 67,332	$ 35,050	$ 110,142
Statutory Federal income tax rate (as a percent)									21.00%	21.00%	35.00%
Reconciliation of the income tax provision (benefit) and the amount that would be computed by applying the statutory federal income tax rate to income (loss) before income taxes
Computed tax at federal statutory rate									$ 63,065	$ 33,763	$ 85,150
Tax effect of:
Tax Legislation											28,363
Non-taxable acquisition adjustment										263	(6,682)
Nondeductible transaction costs										86	774
Nondeductible expenses									2,728	2,864	3,089
State income taxes									6,239	3,313	4,028
Tax-exempt income, net									(1,727)	(1,432)	(2,758)
Minority interest									(1,614)	(900)	(210)
Share-based compensation benefit									(145)	(273)	(412)
Prior year return to provision adjustment									(980)	(1,682)	(943)
Other									(234)	(952)	(257)
Income tax provision (benefit)	$ 15,045	$ 22,750	$ 17,951	$ 11,586	$ 8,928	$ 7,600	$ 11,034	$ 7,488	$ 67,332	$ 35,050	$ 110,142

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating and built-in-loss carryforward	$ 7,823	$ 9,656
Purchase accounting adjustment - loans	15,851	19,673
Allowance for loan losses	14,796	14,137
Compensation and benefits	17,813	14,865
Legal and other reserves	1,272	3,483
Foreclosed property	5,456	3,974
Operating lease ROU assets	29,125
Other	9,774	15,142
Deferred tax assets	101,910	80,930
Deferred tax liabilities:
Premises and equipment	10,079	12,344
Intangible assets	7,684	9,326
Derivatives	4,342	4,169
Loan servicing	13,278	15,761
Operating lease liabilities	26,498
Other	9,652	7,074
Deferred tax liabilities	71,533	48,674
Net deferred tax asset	$ 30,377	$ 32,256

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Statutory Federal income tax rate (as a percent)	21.00%	21.00%	35.00%
Effective income tax rate (as a percent)	22.40%	21.80%	45.30%
Net operating loss carryforwards	$ 11,400	$ 20,900
Net operating loss carryforwards, tax effected basis	2,400	4,400
Recognized built-in loss carryforward ("RBIL")	$ 20,500
Realized built-in-loss recognition period	5 years
Valuation allowance on deferred tax assets for net operating loss carryforwards	$ 0	$ 0

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Uncertain tax positions
Unrecognized tax benefits if recognized would favorably impact the effective tax rate	$ 2,100	$ 2,500
Unrecognized Tax Benefits
Balance, beginning of year	3,056	1,574	$ 1,704
Increases related to tax positions taken during a prior year	317	770	476
Decreases related to tax positions taken during a prior year	(423)		(1,273)
Increases related to tax positions taken during the current year	288	712	667
Decreases related to expiration of the statute of limitations	(430)
Balance, end of year	$ 2,808	$ 3,056	$ 1,574

Employee Benefits (Details)

Employee Benefits (Details) $ in Millions	Jan. 01, 2015USD ($)	Nov. 30, 2012USD ($)item	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2001USD ($)
Employee Benefits
Matching contributions			$ 15.7	$ 15	$ 13.9
Liability recorded upon completion of merger		$ 8.9
Number of executive officers of PlainsCapital with retention agreements \| item		2
Liability, including interest			2.6	9.2
Flexible premium universal life insurance
Amount of insurance purchased						$ 15
Carrying value of the policies			26.2	26.5
Income related to the policies			$ 1	$ 0.6	$ 0.6
SWS Plan
Employee Benefits
Deferred compensation plan, matching percentage	15.00%
Deferred compensation plan, vesting period	4 years
Contributions allowed under plan	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions
Aggregate remaining lease obligation	$ 151,432
Diamond A Financial LP
Related Party Transactions
Ownership interest (as a percent)	17.30%
PlainsCapital (the Bank)
Related Party Transactions
Deposits of related parties held	$ 141,200	$ 126,300
Chief Executive Officer \| Diamond A Financial LP
Related Party Transactions
Ownership interest (as a percent)	49.00%
Directors Executive Officers and Affiliates \| PlainsCapital (the Bank)
Related Party Transactions
Loans to related parties	$ 5	1,200
Total principal additions to loans	0
Total principal payments	1,100
Lessor \| PlainsCapital (the Bank) \| Lease Agreements
Related Party Transactions
Future minimum payments due annually through 2028	500
Aggregate remaining lease obligation	4,600
Related Party Company \| PlainsCapital (the Bank)
Related Party Transactions
Loan Purchases	$ 700	$ 1,200

Related Party Transactions - Hi

Related Party Transactions - Hilltop Plaza Investment (Details) $ in Thousands	Jan. 01, 2019USD ($)	Jul. 31, 2018USD ($)aitemtenant	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2019USD ($)
Related Party Transactions
Operating lease liabilities			$ 128,402
Deferred expenses recognized, recorded as an increase to retained earnings			$ 1,393
Hilltop Plaza
Related Party Transactions
Construction Loan		$ 41,000
Operating lease liabilities					$ 18,900
Costs incurred and capitalized				$ 27,800
Hilltop and the Bank \| Hilltop Plaza
Related Party Transactions
Number of office and retail lease \| item		2
Total base rent		$ 35,000
Rent abated		9 months
Hilltop \| Hilltop Plaza
Related Party Transactions
Term of contract		129 months
PlainsCapital (the Bank) \| Hilltop Plaza
Related Party Transactions
Term of contract		129 months
Hilltop Investments I, LLC
Related Party Transactions
Investment contribution		$ 19,300
Diamond Ground, LLC
Related Party Transactions
Investment contribution		$ 19,300
Park Plaza \| Hilltop Plaza
Related Party Transactions
Ownership interest (as a percent)		50.00%
HTH Hillcrest Project LLC \| Hilltop Plaza
Related Party Transactions
Ownership interest (as a percent)		25.00%
Cash contributions		$ 5,300
Diamond Hillcrest \| Hilltop Plaza
Related Party Transactions
Ownership interest (as a percent)		25.00%
Cash contributions		$ 5,300
Hillcrest Land LLC
Related Party Transactions
Acres of land \| a		1.7
Payments to acquire land		$ 38,500
Primary Beneficiary \| item		0
Ground lease term		99 years
Number of tenants \| tenant		3
Ground lease commences		18 months
Ground lease		$ 1,800
Annual ground lease increase (as percent)		1.00%
Hillcrest Land LLC \| Park Plaza
Related Party Transactions
Leasehold interest		50.00%
Hillcrest Land LLC \| HTH Hillcrest Project LLC
Related Party Transactions
Leasehold interest		25.00%
Hillcrest Land LLC \| Diamond Hillcrest
Related Party Transactions
Leasehold interest		25.00%
Diamond Ground, LLC \| Jeremy Ford
Related Party Transactions
Ownership interest (as a percent)			10.20%
Diamond Ground, LLC \| Wife of Corey Prestidge
Related Party Transactions
Ownership interest (as a percent)			10.10%
Restatement \| ASU 2016-02
Related Party Transactions
Operating lease liabilities	$ 121,800
Deferred expenses recognized, recorded as an increase to retained earnings	1,400
Restatement \| ASU 2016-02 \| Hilltop Plaza
Related Party Transactions
Deferred expenses recognized, recorded as an increase to retained earnings	$ 1,400

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) $ in Thousands	Nov. 30, 2012item	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Reserve for Indemnification Liability:
Number of executive officers \| item	2
Retention Agreement \| Chief Executive Officer One of Plains Capital Bank [Member]
Reserve for Indemnification Liability:
Period from date of agreement at which initial renewal of agreement may occur	2 years
Retention Agreement \| Chief Executive Officer Two of Plains Capital Bank [Member]
Reserve for Indemnification Liability:
Renewal period of contract	1 year
Representation and Warranty Claims
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year		$ 33,784	$ 33,702	$ 40,669
Claims made		20,054	22,156	42,330
Claims resolved with no payment		(14,154)	(13,169)	(37,439)
Repurchases		(6,170)	(8,250)	(6,490)
Indemnification payments		(1,370)	(655)	(5,368)
Balance, end of year		32,144	33,784	33,702
Reserve for Indemnification Liability:
Total		32,144	33,702	40,669	$ 32,144	$ 33,784	$ 33,702
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses		3,100	3,200	4,000
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year		10,701	23,472	18,239
Additions for new sales		3,116	3,170	3,962
Repurchases		(495)	(612)	(466)
Early payment defaults		(380)	(368)	(228)
Indemnification payments		(352)	(13,687)	(713)
Change in reserves for loans sold in prior years		(814)	(1,274)	2,678
Balance, end of year		11,776	10,701	23,472
Reserve for Indemnification Liability:
Specific claims					1,071	676
Incurred but not reported claims					10,705	10,025
Total		$ 11,776	23,472	$ 18,239	11,776	10,701	23,472
Settlement Agreement with DOJ And HUD
Commitments and Contingencies
Payments for Legal Settlements			$ 13,500
PlainsCapital (the Bank)
Commitments and Contingencies
Aggregate amount of federal funds purchased and sold for which the Bank acts as an agent on behalf of certain correspondent banks					$ 0	$ 0	$ 3,000

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Details) $ in Millions	Dec. 31, 2019USD ($)
Unused commitments to extend credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 2,100
Standby letters of credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 90.9

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - 2012 Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2012
Stock based compensation
Number of awards approved for grant (in shares)						4,000,000
Common stock remaining available for issuance (in shares)	556,368
Compensation expense	$ 11.8	$ 9.1	$ 10.8
Restricted Stock
Stock based compensation
Number of shares outstanding				0
Vested/Released (in shares)			3,881
Weighted average grant date fair value			$ 19.95
RSUs
Stock based compensation
Number of shares outstanding	1,437,000	1,270,000	1,318,000		1,456,000
Vested/Released (in shares)	496,000	406,000	451,000
Weighted average grant date fair value	$ 18.17	$ 19.92	$ 22.48
Vesting period	3 years
Transfer restrictions period	1 year
Board of Directors
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	26,659	30,400	16,859

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2012 Plan - RSUs - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of shares outstanding
Balance at the beginning of the period ( in shares)	1,270	1,318	1,456
Granted (in shares)	719	510	450
Vested/Released (in shares)	(496)	(406)	(451)
Forfeited (in shares)	(56)	(152)	(137)
Balance at the end of the period ( in shares)	1,437	1,270	1,318
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 22.44	$ 20.89	$ 19.83
Grant date fair value (in dollars per share)	20.02	24	26.37
Vested/Released (in dollars per share)	18.17	19.92	22.48
Forfeited (in dollars per share)	24.12	20.97	22.41
Balance at the end of the period (in dollars per share)	$ 22.64	$ 22.44	$ 20.89

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2012 Plan - RSUs - USD ($) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)				303,250
Vested RSUs which require deferral of share settlement and statutory tax obligations	17,692			17,692
Number of shares awarded (in shares)	719,000	510,000	450,000
Number of awards subject to time-based vesting (in shares)	1,198,953
Number of awards vesting upon achievement of performance goals (in shares)	238,145
Vesting period	3 years
Unrecognized compensation expense	$ 16			$ 16
Weighted average period for unrecognized compensation expense (in years)	1 year 6 months 10 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	710,425
Number of awards subject to time-based vesting (in shares)	603,593
Number of awards vesting upon achievement of performance goals (in shares)	91,249
Vesting period	3 years

Regulatory Matters - Minimum Ca

Regulatory Matters - Minimum Capital Requirements (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
PlainsCapital (the Bank)
Tier 1 capital (to average assets)
Actual Amount	$ 1,236,289	$ 1,183,447
Actual Ratio (as a percent)	11.61%	12.47%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	4.00%	4.00%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	4.00%	4.00%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	5.00%	5.00%
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 1,236,289	$ 1,183,447
Actual Ratio (as a percent)	13.45%	13.90%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	7.00%	6.375%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	7.00%	7.00%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	6.50%	6.50%
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,236,289	$ 1,183,447
Actual Ratio (as a percent)	13.45%	13.90%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	8.50%	7.875%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	8.50%	8.50%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	8.00%	8.00%
Total capital (to risk-weighted assets)
Actual Amount	$ 1,299,453	$ 1,245,177
Actual Ratio (as a percent)	14.13%	14.63%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	10.50%	9.875%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	10.50%	10.50%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	10.00%	10.00%
Hilltop
Tier 1 capital (to average assets)
Actual Amount	$ 1,822,970	$ 1,680,364
Actual Ratio (as a percent)	12.71%	12.53%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	4.00%	4.00%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	4.00%	4.00%
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 1,776,381	$ 1,634,978
Actual Ratio (as a percent)	16.70%	16.58%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	7.00%	6.375%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	7.00%	7.00%
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,822,970	$ 1,680,364
Actual Ratio (as a percent)	17.13%	17.04%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	8.50%	7.875%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	8.50%	8.50%
Total capital (to risk-weighted assets)
Actual Amount	$ 1,867,771	$ 1,722,602
Actual Ratio (as a percent)	17.55%	17.47%
Minimum Capital Requirement Including Conservation Buffer in effect at end of period, ratio (as a percent)	10.50%	9.875%
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	10.50%	10.50%

Regulatory Matters - Net Capita

Regulatory Matters - Net Capital Position, Broker-Dealers (Details) $ in Thousands	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Reconciliation of equity capital to Tier 1 and total capital (as defined)
Total equity capital	$ 2,103,039	$ 1,949,470
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 157,436	133,993	$ 186,578
Number ABAs out of compliance \| item	2
Hilltop Securities
Net Capital
Net capital	$ 318,732
Less required net capital	7,750
Excess net capital	$ 310,982
Net capital as a percentage of aggregate debit items	82.30%
Net capital in excess of 5% aggregate debt items	$ 299,356
HTS Independent Network
Net Capital
Net capital	3,375
Less required net capital	250
Excess net capital	3,125
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	157,400	134,000
PlainsCapital (the Bank)
Reconciliation of equity capital to Tier 1 and total capital (as defined)
Total equity capital	1,523,549	1,459,985
Add:
Net unrealized holding losses (gains) on securities available for sale and held in trust	(9,452)	7,988
Deduct:
Goodwill and other disallowed intangible assets	(276,249)	(282,238)
Other	(1,559)	(2,288)
Common equity Tier 1 capital (as defined)	1,236,289	1,183,447
Deduct:
Tier 1 capital (as defined)	1,236,289	1,183,447
Add: Allowable Tier 2 capital
Allowance for loan losses, including unfunded commitments	63,164	61,730
Deduct:
Total capital (as defined)	1,299,453	1,245,177
Hilltop
Reconciliation of equity capital to Tier 1 and total capital (as defined)
Total equity capital	2,103,039	1,949,470
Add:
Net unrealized holding losses (gains) on securities available for sale and held in trust	(11,419)	8,627
Deduct:
Goodwill and other disallowed intangible assets	(313,756)	(319,942)
Other	(1,483)	(3,177)
Common equity Tier 1 capital (as defined)	1,776,381	1,634,978
Add: Tier 1 capital
Trust preferred securities	65,000	65,000
Deduct:
Additional Tier 1 capital deductions	(18,411)	(19,614)
Tier 1 capital (as defined)	1,822,970	1,680,364
Add: Allowable Tier 2 capital
Allowance for loan losses, including unfunded commitments	63,212	61,852
Deduct:
Additional Tier 2 capital deduction	(18,411)	(19,614)
Total capital (as defined)	$ 1,867,771	$ 1,722,602

Regulatory Matters - Insurance

Regulatory Matters - Insurance Subsidiaries (Details) - Texas Department of Insurance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
NLIC
Insurance
Statutory capital and surplus	$ 70,112	$ 78,637
Statutory net income (loss)	11,389	9,114	$ (1,785)
ASIC
Insurance
Statutory capital and surplus	19,201	17,908
Statutory net income (loss)	$ 968	$ (1,304)	$ 742

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 30, 2020	Aug. 20, 2019	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 31, 2020	Jan. 31, 2019	Jul. 31, 2018	Jan. 31, 2018
Stock repurchase program
Cash dividends declared per common share	$ 0.09		$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.32	$ 0.28	$ 0.24
Cash dividends paid per common share											$ 0.32	$ 0.28	$ 0.24
Cash dividends paid											$ 29,600	$ 26,700	$ 23,100
Earnings available for dividend payments without regulatory approval			$ 162,600								162,600
Maximum dividends that may be paid without regulatory approval			$ 10,900								10,900
Repurchase common stock authorized amount														$ 75,000	$ 50,000	$ 100,000	$ 50,000
Payments to repurchase shares											$ 73,385	$ 58,990	$ 27,388
Repurchase of common stock (in shares)											3,390,247	2,729,568	1,057,656
Securities Purchase Agreement
Stock repurchase program
Payments to repurchase shares		$ 48,400
Repurchase of common stock (in shares)		2,175,404
Average price (per share)		$ 22.25
Weighted average
Stock repurchase program
Average price (per share)											$ 21.64	$ 21.61	$ 25.87

Other Noninterest Income and _3

Other Noninterest Income and Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other noninterest income:
Net gain from Hilltop Broker-Dealer structured product and derivative activities	$ 129,571	$ 41,543	$ 70,922
Net gain from trading securities portfolio	20,521	6,197	20,210
Service charges on depositor accounts	15,170	14,484	14,429
Trust fees	10,255	9,807	7,485
Insurance commissions	5,325	5,211	4,819
Insurance direct billing and other policy fees	3,708	3,930	4,353
Revenue from check and stored value cards	2,784	2,966	3,169
Rent and other income from other real estate owned	438	764	1,280
SWS Merger appraisal proceeding			11,757
Other	9,493	11,403	25,546
Other noninterest income	197,265	96,305	163,970
Other noninterest expense:
Software and Information technology	53,916	56,986	45,891
Brokerage commissions and fees	20,039	20,674	22,884
Mortgage origination and servicing	19,892	19,705	22,353
Unreimbursed loan closing costs	16,784	16,798	20,428
Business development	12,967	15,913	18,619
Travel, meals and entertainment	12,526	12,389	12,839
Amortization of intangible assets	7,850	8,426	8,263
Office supplies	5,121	6,123	7,806
Funding fees	5,393	5,414	8,464
OREO and repossessed assets	1,858	3,885	4,004
FDIC Indemnification Asset amortization		6,509	17,083
FDIC "true-up"		250	2,100
Other	47,836	51,183	51,362
Other noninterest expense	$ 204,182	$ 224,255	$ 242,096

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Not designated as hedges \| Prime Lending
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	$ 8,550	$ (12,788)	$ (13,108)
Not designated as hedges \| Hilltop Broker-Dealers
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	(3,085)	(381)	8,142
Not designated as hedges \| PlainsCapital (the Bank)
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	(148)	30	$ 334
IRLCs \| Not designated as hedges
Derivative financial instruments
Notional Amount	914,526	677,267
Estimated Fair Value	18,222	17,421
Customer-based written options \| Not designated as hedges
Derivative financial instruments
Notional Amount	31,200	31,200
Estimated Fair Value		(49)
Customer-based purchased options \| Not designated as hedges
Derivative financial instruments
Notional Amount	31,200	31,200
Estimated Fair Value		49
Commitments to Purchase MBSs \| Not designated as hedges
Derivative financial instruments
Notional Amount	3,346,946	2,359,630
Estimated Fair Value	3,321	10,467
Commitments to Sell MBSs \| Not designated as hedges
Derivative financial instruments
Notional Amount	5,988,198	3,711,477
Estimated Fair Value	(5,904)	(19,315)
Commitments to Sell MBSs \| Not designated as hedges \| Prime Lending
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	4,500	11,900
Interest rate swaps \| Not designated as hedges
Derivative financial instruments
Notional Amount	15,012	15,104
Estimated Fair Value	(178)	82
Interest rate swaps \| Cash Flow Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	50,000
Estimated Fair Value	528
U.S. Treasury bond futures and options \| Not designated as hedges
Derivative financial instruments
Notional Amount	283,500	367,200
Eurodollar futures \| Not designated as hedges
Derivative financial instruments
Notional Amount	934,000	104,000
Treasury bond futures and options and Eurodollar futures \| Not designated as hedges \| PrimeLending and Hilltop Broker-Dealers
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	$ 3,700	$ 3,400

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 59,031	$ 61,611
Total
Gross Amounts of Recognized Assets	1,697,453	1,437,764
Net Amounts of Assets Presented in the Balance Sheet	1,697,453	1,437,764
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,649,079)	(1,378,980)
Net Amount	48,374	58,784
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,634,782	1,365,547
Net Amounts of Assets Presented in the Balance Sheet	1,634,782	1,365,547
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,586,820)	(1,307,121)
Net Amount	47,962	58,426
Interest Rate Options \| Customer Counterparties
Derivatives:
Gross Amounts of Recognized Assets		49
Net Amounts of Assets Presented in the Balance Sheet		49
Gross Amounts Not Offset in the Balance Sheet
Net Amounts of Assets Presented in the Balance Sheet		49
Interest rate swaps \| Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets		88
Net Amounts of Assets Presented in the Balance Sheet		88
Gross Amounts Not Offset in the Balance Sheet
Net Amount		88
Reverse repurchase agreements \| Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	59,031	61,611
Net Amounts of Assets Presented in the Balance Sheet	59,031	61,611
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(58,619)	(61,390)
Net Amount	412	221
Forward MBS Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	3,640	10,469
Net Amounts of Assets Presented in the Balance Sheet	3,640	10,469
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	$ (3,640)	$ (10,469)

Balance Sheet Offsetting - Liab

Balance Sheet Offsetting - Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Total
Gross Amounts of Recognized Liabilities	$ 2,175,157	$ 1,782,166
Gross Amounts Offset in the Balance Sheet	(667)	(15)
Net Amounts of Liabilities Presented in the Balance Sheet	2,174,490	1,782,151
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(2,124,554)	(1,720,468)
Net Amount	49,936	61,683
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,555,964	1,186,073
Net Amounts of Liabilities Presented in the Balance Sheets	1,555,964	1,186,073
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,509,933)	(1,136,033)
Net Amount	46,031	50,040
Institutional Counterparties \| Interest Rate Options
Derivatives:
Gross Amounts of Recognized Liabilities		49
Net Amounts of Liabilities Presented in the Balance Sheet		49
Gross Amounts Not Offset in the Balance Sheet
Net Amount		49
Institutional Counterparties \| Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities	178	6
Net Amounts of Liabilities Presented in the Balance Sheet	178	6
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(112)
Net Amount	66	6
Institutional Counterparties \| Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	586,651	533,441
Net Amounts of Liabilities Presented in the Balance Sheet	586,651	533,441
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(586,651)	(533,441)
Net Amount	0	0
Institutional Counterparties \| Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	6,890	19,331
Gross Amounts Offset in the Balance Sheet	(667)	(15)
Net Amounts of Liabilities Presented in the Balance Sheet	6,223	19,316
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(2,384)	(7,728)
Net Amount	3,839	11,588
Customer Counterparties \| Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	25,474	43,266
Net Amounts of Liabilities Presented in the Balance Sheet	25,474	43,266
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(25,474)	(43,266)
Net Amount	$ 0	$ 0

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Number of repurchase-to-maturity transactions outstanding \| item	0	0
Total borrowings	$ 2,168,089	$ 1,762,780
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 2,168,089	1,762,780
Minimum
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Security repurchase agreement maturity period	1 day
Maximum
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Security repurchase agreement maturity period	60 days
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	$ 1,859,310	1,762,780
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	12,892
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	295,887
US Treasury and agency securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	45,950	131,848
US Treasury and agency securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	45,950	131,848
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	566,175	444,859
Assets-backed securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	257,396	444,859
Assets-backed securities \| Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	12,892
Assets-backed securities \| Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	295,887
Corporate debt securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	120	113
Corporate debt securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	120	113
Equity Securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	1,555,844	1,185,960
Equity Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,555,844	$ 1,185,960

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Receivables:
Securities borrowed	$ 1,634,782	$ 1,365,547
Securities failed to deliver	18,726	16,300
Trades in process of settlement	104,922	32,993
Other	21,850	25,447
Total receivables	1,780,280	1,440,287
Payables:
Securities loaned	1,555,964	1,186,073
Correspondents	37,036	29,311
Securities failed to receive	8,568	75,015
Other	3,950	4,526
Total Payables	$ 1,605,518	$ 1,294,925

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Activity in deferred acquisition costs
Balance, beginning of year	$ 16,633	$ 16,988	$ 18,603
Acquisition expenses capitalized	32,245	34,328	34,934
Amortization charged to income	(33,206)	(34,683)	(36,549)
Balance, end of year	$ 15,672	$ 16,633	$ 16,988

Reserve for Losses and Loss A_3

Reserve for Losses and Loss Adjustment Expenses - Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Information regarding of the reserve for unpaid losses and loss adjustment expenses
Balance, beginning of year	$ 20,552	$ 30,213	$ 35,826
Less reinsurance recoverables	(3,214)	(11,495)	(9,433)
Net balance, beginning of year	17,338	18,718	26,393
Incurred related to:
Current year	71,687	79,881	94,444
Prior periods	(2,929)	(535)	257
Total incurred	68,758	79,346	94,701
Payments related to:
Current year	(60,310)	(66,009)	(83,332)
Prior periods	(11,449)	(14,717)	(19,044)
Total payments	(71,759)	(80,726)	(102,376)
Net balance, end of year	14,337	17,338	18,718
Plus reinsurance recoverables	1,005	3,214	11,495
Balance, end of year	$ 15,342	$ 20,552	$ 30,213

Reserve for Losses and Loss A_4

Reserve for Losses and Loss Adjustment Expenses - Activity (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Insurance Incurred and Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Total incurred	$ 316,425
Total paid	303,056
All outstanding reserves prior to 2016, net of reinsurance	197
Reserve for unpaid losses and allocated LAE balance, net	13,566
2016
Insurance Incurred and Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Total incurred	83,943	$ 84,076	$ 85,189	$ 84,771
Total paid	83,596	83,169	81,682	$ 71,543
Total of IBNR Reserves Plus Expected Development on Reported claims	$ 220
Cumulative Number of Reported Claims	20,184
2017
Insurance Incurred and Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Total incurred	$ 87,534	88,025	87,899
Total paid	87,247	86,319	$ 77,675
Total of IBNR Reserves Plus Expected Development on Reported claims	$ 225
Cumulative Number of Reported Claims	20,740
2018
Insurance Incurred and Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Total incurred	$ 73,261	75,217
Total paid	71,903	$ 61,922
Total of IBNR Reserves Plus Expected Development on Reported claims	$ 1,160
Cumulative Number of Reported Claims	15,293
2019
Insurance Incurred and Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Total incurred	$ 71,687
Total paid	60,310
Total of IBNR Reserves Plus Expected Development on Reported claims	$ 5,430
Cumulative Number of Reported Claims	14,218

Reinsurance Activity - Credit R

Reinsurance Activity - Credit Risk (Details) $ in Thousands	Dec. 31, 2019USD ($)
Reinsurance activity
Balances due from Companies	$ 1,000
Allowance for uncollectible accounts	$ 0
Threshold percentage for disclosure of reinsurance recoverables	5.00%
Total
Reinsurance activity
Balances due from Companies	$ 658
R and V Versicherung AG
Reinsurance activity
Balances due from Companies	166
AM Best, A Rating \| Aspen Bermuda
Reinsurance activity
Balances due from Companies	79
AM Best, A Rating \| Lloyds Syndicate 2001
Reinsurance activity
Balances due from Companies	66
AM Best, A+ Rating \| Partner Reinsurance
Reinsurance activity
Balances due from Companies	150
AM Best, A+ Rating \| Arch Reinsurance Co
Reinsurance activity
Balances due from Companies	90
AM Best, A+ Rating \| Everest Reinsurance Company
Reinsurance activity
Balances due from Companies	52
AM Best, A- Rating \| Fidelis Reinsurance
Reinsurance activity
Balances due from Companies	$ 55

Reinsurance Activity - Effects

Reinsurance Activity - Effects of Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earned
Net premiums	$ 132,284	$ 136,751	$ 142,298
Effect of reinsurance on incurred losses
Net loss and LAE incurred	68,940	79,347	94,701
Property and casualty
Written
Premiums from direct business	125,157	129,611	137,091
Reinsurance assumed	13,148	12,917	12,150
Reinsurance ceded	(7,191)	(8,749)	(12,280)
Net premiums	131,114	133,779	136,961
Earned
Premiums from direct business	126,434	133,112	144,990
Reinsurance assumed	13,041	12,516	11,767
Reinsurance ceded	(7,191)	(8,877)	(14,459)
Net premiums	132,284	136,751	142,298
Effect of reinsurance on incurred losses
Loss and LAE incurred	68,130	76,464	138,358
Reinsurance recoverables	810	2,883	(43,657)
Net loss and LAE incurred	$ 68,940	$ 79,347	$ 94,701

Reinsurance Activity - Coverage

Reinsurance Activity - Coverage (Details) $ in Millions	Jul. 01, 2019	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item	Dec. 31, 2019USD ($)item
Catastrophic Coverage \| First Layer of Protection
Reinsurance activity
Retention amount		$ 8
Reinsurance in excess of retention		12
Catastrophic Coverage \| Second Layer of Protection
Reinsurance activity
Retention amount		20
Reinsurance coverage in losses per event		25
Catastrophic Coverage \| Third Layer of Protection
Reinsurance activity
Retention amount		45
Reinsurance coverage in losses per event		$ 50
NLC \| Catastrophic Coverage
Reinsurance activity
Renewal period of reinsurance contract	1 year
Number of layers of protection under reinsurance \| item		3			3
Aggregate coverage in excess of retention for per event retention and sub-catastrophic event		$ 10		$ 10
Retention amount per event		$ 1
Participation retained (as a percent)		37.50%
Number of significant catastrophe experienced \| item		0	0
Number of tornado, hail and wind storms experienced \| item		9	11	14
Incurred losses		$ 19.5	$ 21.2	$ 33.3
Reinsurance recoverable favorable (loss)				$ 1.8
Reinsurance recoverable subscription level			82.50%	100.00%
Reinstatement premiums		0.5	$ (0.1)	$ 1.4
NLC \| Catastrophic Coverage \| Sub-catastrophic
Reinsurance activity
Retention amount		$ 15
NLC \| Catastrophic Coverage \| Hurricane Harvey
Reinsurance activity
Total gross losses and LAE incurred					$ 16
Net exposure retention					5.2
Reinstatement premiums					$ 1.5
NLIC and ASIC \| Catastrophic Coverage
Reinsurance activity
Number of catastrophe that could be experienced with limited retention \| item		1
NLIC and ASIC \| Catastrophic Coverage \| Maximum
Reinsurance activity
Retention amount		$ 8
NLIC \| Catastrophic Coverage
Reinsurance activity
Retention amount		8
ASIC \| Catastrophic Coverage
Reinsurance activity
Retention amount		2
ASIC \| Underlying Coverage
Reinsurance activity
Retention amount		2
Reinsurance in excess of retention		$ 6

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
Segment and Related Information (Details) $ in Thousands	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Information about the revenues, operating results, goodwill and assets
Number of reportable segments \| segment									4
Net interest income (expense)	$ 111,287	$ 113,212	$ 107,876	$ 108,931	$ 117,715	$ 110,341	$ 104,848	$ 103,420	$ 441,306	$ 436,324	$ 421,748
Provision (recovery) for loan losses	6,880	47	(672)	951	6,926	(371)	340	(1,807)	7,206	5,088	14,271
Noninterest income	299,276	341,401	312,871	252,468	238,516	269,697	279,434	235,143	1,206,016	1,022,790	1,205,064
Noninterest expense	336,936	350,109	343,677	309,085	310,819	335,711	338,517	308,202	1,339,807	1,293,249	1,369,255
Income before income taxes	66,747	$ 104,457	$ 77,742	$ 51,363	38,486	$ 44,698	$ 45,425	$ 32,168	300,309	160,777	243,286
Goodwill	291,435				291,435				291,435	291,435
Total assets	15,172,448				13,683,572				15,172,448	13,683,572
Operating segment \| Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									379,258	370,732	366,581
Provision (recovery) for loan losses									7,280	5,319	14,073
Noninterest income									41,753	43,588	59,904
Noninterest expense									231,524	256,577	248,404
Income before income taxes									182,207	152,424	164,008
Goodwill	247,368				247,368				247,368	247,368
Total assets	11,147,344				10,004,971				11,147,344	10,004,971
Operating segment \| Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									51,308	50,878	43,735
Provision (recovery) for loan losses									(74)	(231)	198
Noninterest income									404,411	301,714	368,421
Noninterest expense									366,031	320,241	347,314
Income before income taxes									89,762	32,582	64,644
Goodwill	7,008				7,008				7,008	7,008
Total assets	3,457,068				3,213,115				3,457,068	3,213,115
Operating segment \| Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									(6,273)	1,485	(915)
Noninterest income									634,992	551,860	632,388
Noninterest expense									563,998	540,474	581,899
Income before income taxes									64,721	12,871	49,574
Goodwill	13,071				13,071				13,071	13,071
Total assets	2,357,415				1,627,134				2,357,415	1,627,134
Operating segment \| Insurance Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									2,329	3,025	2,861
Noninterest income									143,082	142,565	151,382
Noninterest expense									127,920	139,921	158,354
Income before income taxes									17,491	5,669	(4,111)
Goodwill	23,988				23,988				23,988	23,988
Total assets	254,639				253,513				254,639	253,513
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									(5,541)	(9,176)	(10,069)
Noninterest income									2,221	4,893	12,798
Noninterest expense									50,968	36,628	33,983
Income before income taxes									(54,288)	(40,911)	(31,254)
Total assets	2,393,604				2,243,182				2,393,604	2,243,182
All Other and Eliminations.
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									20,225	19,380	19,555
Noninterest income									(20,443)	(21,830)	(19,829)
Noninterest expense									(634)	(592)	(699)
Income before income taxes									416	(1,858)	$ 425
Total assets	$ (4,437,622)				$ (3,658,343)				$ (4,437,622)	$ (3,658,343)

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Basic earnings per share:
Income attributable to Hilltop									$ 225,291	$ 121,441	$ 132,544
Weighted average shares outstanding - basic									92,345	94,969	97,137
Basic earnings per common share (in dollars per share)	$ 0.54	$ 0.87	$ 0.62	$ 0.41	$ 0.30	$ 0.38	$ 0.35	$ 0.25	$ 2.44	$ 1.28	$ 1.36
Diluted earnings per share:
Income attributable to Hilltop									$ 225,291	$ 121,441	$ 132,544
Weighted average shares outstanding - basic									92,345	94,969	97,137
Effect of potentially dilutive securities (in shares)									49	98	216
Weighted average shares outstanding - diluted									92,394	95,067	97,353
Diluted earnings per common share (in dollars per share)	$ 0.54	$ 0.86	$ 0.62	$ 0.41	$ 0.30	$ 0.38	$ 0.35	$ 0.25	$ 2.44	$ 1.28	$ 1.36

Financial Statements of Paren_2

Financial Statements of Parent - Operations and Comp Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Interest expense	$ 41,490	$ 48,744	$ 42,180	$ 41,109	$ 39,987	$ 37,985	$ 35,192	$ 29,940	$ 173,523	$ 143,104	$ 85,408
Income tax benefit	15,045	22,750	17,951	11,586	8,928	7,600	11,034	7,488	67,332	35,050	110,142
Net income	$ 51,702	$ 81,707	$ 59,791	$ 39,777	$ 29,558	$ 37,098	$ 34,391	$ 24,680	232,977	125,727	133,144
Other comprehensive income (loss), net									20,046	(5,632)	(879)
Comprehensive income									253,023	120,095	132,265
Parent Company \| Reportable Legal Entities
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Dividends from bank subsidiaries									143,000	42,000	53,000
Dividends from nonbank subsidiaries									36,950	37,500	41,500
Investment income									5,933	3,089	312
Interest expense									11,474	12,265	10,381
Other income									2,221	4,893	12,798
General and administrative expense									50,968	36,628	33,983
Income before income taxes, equity in undistributed earnings of subsidiaries and preferred stock activity									125,662	38,589	63,246
Income tax benefit									(12,706)	(7,767)	(15,577)
Equity in undistributed earnings of subsidiaries									94,609	79,371	54,321
Net income									232,977	125,727	133,144
Other comprehensive income (loss), net									20,046	(5,656)	(879)
Comprehensive income									$ 253,023	$ 120,071	$ 132,265

Financial Statements of Paren_3

Financial Statements of Parent - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investment in subsidiaries:
Other assets	$ 510,791	$ 580,362
Total assets	15,172,448	13,683,572
Liabilities and Stockholders' Equity
Notes payable	283,769	228,872
Stockholders' equity	2,103,039	1,949,470
Total liabilities and stockholders' equity	15,172,448	13,683,572
Parent Company \| Reportable Legal Entities
Assets
Cash and cash equivalents	116,471	54,405	$ 96,764
Investment in subsidiaries:
Bank subsidiaries	1,523,549	1,459,984	1,340,093
Nonbank subsidiaries	533,844	483,593	603,631
Other assets	219,740	245,200	66,490
Total assets	2,393,604	2,243,182	2,106,978
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	53,418	58,319	46,442
Notes payable	215,780	215,620	148,455
Stockholders' equity	2,124,406	1,969,243	1,912,081
Total liabilities and stockholders' equity	$ 2,393,604	$ 2,243,182	$ 2,106,978

Financial Statements of Paren_4

Financial Statements of Parent - Cash flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities:
Net income	$ 51,702	$ 81,707	$ 59,791	$ 39,777	$ 29,558	$ 37,098	$ 34,391	$ 24,680	$ 232,977	$ 125,727	$ 133,144
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized gains on equity investments									(1,881)	2,486
Deferred income taxes									(3,855)	13,197	40,933
Net cash provided by (used in) operating activities									(433,023)	389,540	(320,718)
Investing Activities:
Purchases of equity securities									(307)	(933)
Purchases of premises and equipment and other assets									(42,287)	(68,079)	(31,152)
Net cash used in investing activities									(604,292)	(289,667)	(357,961)
Financing Activities:
Payments to repurchase common stock									(73,385)	(58,990)	(27,388)
Dividends paid on common stock									(29,627)	(26,698)	(23,140)
Net cash contributed from noncontrolling interest									(6,352)	17,411	(1,885)
Other, net									(515)	(813)	(674)
Net cash provided by financing activities									901,638	4,633	480,882
Net change in cash, cash equivalents and restricted cash									(135,677)	104,506	(197,797)
Cash, cash equivalents and restricted cash, beginning of year				778,466				673,960	778,466	673,960	871,757
Cash, cash equivalents and restricted cash, end of year	642,789				778,466				642,789	778,466	673,960
Parent Company \| Reportable Legal Entities
Operating Activities:
Net income									232,977	125,727	133,144
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries									(94,609)	(79,371)	(54,321)
Net realized gains on equity investments										(5,336)
Deferred income taxes									(123)	217	2,511
Other, net									44,943	19,368	(57,380)
Net cash provided by (used in) operating activities									183,188	60,605	23,954
Investing Activities:
Capital contribution to bank and bank holding company subsidiaries											(10,000)
Purchases of equity securities										(12,492)
Purchases of premises and equipment and other assets									(17,302)	(42,390)	(4,241)
Proceeds from sales of equity investments										16,174
Net cash used in investing activities									(17,302)	(38,708)	(14,241)
Financing Activities:
Payments to repurchase common stock									(73,385)	(58,990)	(27,388)
Dividends paid on common stock									(29,627)	(26,698)	(23,140)
Net cash contributed from noncontrolling interest									100	19,250
Other, net									(908)	2,182	19,289
Net cash provided by financing activities									(103,820)	(64,256)	(31,239)
Net change in cash, cash equivalents and restricted cash									62,066	(42,359)	(21,526)
Cash, cash equivalents and restricted cash, beginning of year				$ 54,405				$ 96,764	54,405	96,764	118,290
Cash, cash equivalents and restricted cash, end of year	$ 116,471				$ 54,405				$ 116,471	54,405	$ 96,764
Supplemental Schedule of Non-Cash Activities:
Construction in progress related to build-to-suit lease obligations										27,802
Note receivable contributed from nonbank subsidiary										$ 111,653

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Jan. 01, 2020	Jan. 01, 2019	Dec. 31, 2019
Recent Accounting Pronouncements
Operating lease liabilities			$ 128,402
Operating lease right-of-use assets			117,059
Deferred expenses recognized, recorded as an increase to retained earnings			$ 1,393
ASU 2016-02 \| Restatement
Recent Accounting Pronouncements
Operating lease liabilities		$ 121,800
Operating lease right-of-use assets		111,900
Deferred expenses recognized, recorded as an increase to retained earnings		$ 1,400
ASU 2016-13 \| Minimum
Recent Accounting Pronouncements
Allowance for credit losses	$ 80,000
Change in reserve for unfunded commitments	6,000
ASU 2016-13 \| Maximum
Recent Accounting Pronouncements
Allowance for credit losses	100,000
Change in reserve for unfunded commitments	$ 9,000

Selected Quarterly Financial _3

Selected Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information (Unaudited)
Interest income		$ 152,777	$ 161,956	$ 150,056	$ 150,040	$ 157,702	$ 148,326	$ 140,040	$ 133,360	$ 614,829	$ 579,428	$ 507,156
Interest expense		41,490	48,744	42,180	41,109	39,987	37,985	35,192	29,940	173,523	143,104	85,408
Net interest income		111,287	113,212	107,876	108,931	117,715	110,341	104,848	103,420	441,306	436,324	421,748
Provision (recovery) for loan losses		6,880	47	(672)	951	6,926	(371)	340	(1,807)	7,206	5,088	14,271
Noninterest income		299,276	341,401	312,871	252,468	238,516	269,697	279,434	235,143	1,206,016	1,022,790	1,205,064
Noninterest expense		336,936	350,109	343,677	309,085	310,819	335,711	338,517	308,202	1,339,807	1,293,249	1,369,255
Income before income taxes		66,747	104,457	77,742	51,363	38,486	44,698	45,425	32,168	300,309	160,777	243,286
Income tax expense		15,045	22,750	17,951	11,586	8,928	7,600	11,034	7,488	67,332	35,050	110,142
Net income		51,702	81,707	59,791	39,777	29,558	37,098	34,391	24,680	232,977	125,727	133,144
Less: Net income attributable to noncontrolling interest		2,426	2,289	1,980	991	1,443	1,293	1,311	239	7,686	4,286	600
Income attributable to Hilltop		$ 49,276	$ 79,418	$ 57,811	$ 38,786	$ 28,115	$ 35,805	$ 33,080	$ 24,441	$ 225,291	$ 121,441	$ 132,544
Earnings per common share:
Basic (in dollars per share)		$ 0.54	$ 0.87	$ 0.62	$ 0.41	$ 0.30	$ 0.38	$ 0.35	$ 0.25	$ 2.44	$ 1.28	$ 1.36
Diluted (in dollars per share)		0.54	0.86	0.62	0.41	0.30	0.38	0.35	0.25	2.44	1.28	1.36
Cash dividends declared per common share	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.32	$ 0.28	$ 0.24

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	Jan. 31, 2020USD ($)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| NLC \| Subsequent Event
Subsequent Events
Value of subsidiary to be sold per agreement	$ 150