Hilltop (HTH) 10-Q 5 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 05, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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		90,207,574
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 524,370	$ 433,626
Federal funds sold	401	394
Assets segregated for regulatory purposes	178,805	157,436
Securities purchased under agreements to resell	23,356	59,031
Securities:
Trading, at fair value	393,581	689,576
Available for sale, at fair value (amortized cost of $945,156 and $899,817, respectively)	972,318	911,493
Held to maturity, at amortized cost (fair value of $369,614 and $388,930, respectively)	355,110	386,326
Equity, at fair value	107	166
Total securities	1,721,116	1,987,561
Loans held for sale	2,433,407	2,106,361
Loans held for investment, net of unearned income	7,345,250	7,381,400
Allowance for loan losses	(106,739)	(61,136)
Loans held for investment, net	7,238,511	7,320,264
Broker-dealer and clearing organization receivables	1,838,789	1,780,280
Premises and equipment, net	215,261	210,375
Operating lease right-of-use assets	113,395	114,320
Other assets	876,615	460,258
Goodwill	267,447	267,447
Other intangible assets, net	25,019	26,666
Assets held for sale	249,758	248,429
Total assets	15,706,250	15,172,448
Deposits:
Noninterest-bearing	2,865,192	2,769,556
Interest-bearing	7,082,297	6,262,658
Total deposits	9,947,489	9,032,214
Broker-dealer and clearing organization payables	1,259,181	1,605,518
Short-term borrowings	1,329,948	1,424,010
Securities sold, not yet purchased, at fair value	22,768	43,817
Notes payable	244,042	256,269
Operating lease liabilities	124,123	125,619
Junior subordinated debentures	67,012	67,012
Other liabilities	408,224	348,519
Liabilities held for sale	139,730	140,674
Total liabilities	13,542,517	13,043,652
Commitments and contingencies (see Notes 19 and 20)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 90,108,336 and 90,640,944 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	901	906
Additional paid-in capital	1,437,301	1,445,233
Accumulated other comprehensive income	20,939	11,419
Retained earnings	676,946	644,860
Deferred compensation employee stock trust, net	774	776
Employee stock trust (7,539 and 7,794 shares, at cost, at March 31, 2020 and December 31, 2019, respectively)	(150)	(155)
Total Hilltop stockholders' equity	2,136,711	2,103,039
Noncontrolling interests	27,022	25,757
Total stockholders' equity	2,163,733	2,128,796
Total liabilities and stockholders' equity	$ 15,706,250	$ 15,172,448

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 945,156	$ 899,817
Held to maturity, fair value	$ 369,614	$ 388,930
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	90,108,336	90,640,944
Common stock, shares outstanding	90,108,336	90,640,944
Employee stock trust, shares	7,539	7,794

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest income:
Loans, including fees	$ 111,168	$ 110,870
Securities borrowed	13,327	16,859
Securities:
Taxable	15,695	14,656
Tax-exempt	1,610	1,498
Other	3,075	5,055
Total interest income	144,875	148,938
Interest expense:
Deposits	15,124	17,106
Securities loaned	11,277	14,738
Short-term borrowings	4,744	5,471
Notes payable	2,418	2,181
Junior subordinated debentures	850	1,001
Other	126	152
Total interest expense	34,539	40,649
Net interest income	110,336	108,289
Provision for credit losses	34,549	951
Net interest income after provision for credit losses	75,787	107,338
Noninterest income:
Net gains from sale of loans and other mortgage production income	150,486	96,139
Mortgage loan origination fees	28,554	21,873
Securities commissions and fees	40,069	35,969
Investment and securities advisory fees and commissions	23,180	20,160
Other	29,424	41,822
Total noninterest income	271,713	215,963
Noninterest expense:
Employees' compensation and benefits	196,356	186,696
Occupancy and equipment, net	19,522	27,779
Professional services	14,798	14,109
Other	51,225	50,163
Total noninterest expense	281,901	278,747
Income from continuing operations before income taxes	65,599	44,554
Income tax expense	15,148	10,137
Income from continuing operations	50,451	34,417
Income from discontinued operations, net of income taxes	3,151	5,360
Net income	53,602	39,777
Less: Net income attributable to noncontrolling interest	3,966	991
Income attributable to Hilltop	$ 49,636	$ 38,786
Basic:
Earnings from continued operations (in dollars per share)	$ 0.51	$ 0.36
Income from discontinued operations (in dollars per share)	0.04	0.05
Basic earnings per common share (in dollars per share)	0.55	0.41
Diluted:
Earnings from continued operations (in dollars per share)	0.51	0.36
Income from discontinued operations (in dollars per share)	0.04	0.05
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.41
Weighted average share information:
Basic (in shares)	90,509	93,669
Diluted (in shares)	90,550	93,669

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 53,602	$ 39,777
Other comprehensive income:
Change in fair value of cash flow hedges, net of tax of $(933) and $0, respectively	(3,200)
Net unrealized gains (losses) on securities available for sale, net of tax of $3,726 and $2,208, respectively	12,605	7,549
Reclassification adjustment for gains (losses) included in net income, net of tax of $34 and $5, respectively	115	16
Comprehensive income	63,122	47,342
Less: comprehensive income attributable to noncontrolling interest	3,966	991
Comprehensive income applicable to Hilltop	$ 59,156	$ 46,351

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Cash flow hedge, tax	$ (933)	$ 0
Net unrealized gains (losses) on securities available for sale, tax	3,726	2,208
Reclassification adjustment, tax	$ 34	$ 5

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
Increase (Decrease) in Stockholders' Equity
Adoption of accounting standards	$ 1,393				$ 1,393				$ 1,393
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	38,786				38,786			991	39,777
Other comprehensive loss	7,565			7,565					7,565
Stock-based compensation expense	2,354		2,354						2,354
Common stock issued to board members	140		140						140
Common stock issued to board members (in shares)		8,000
Issuance of common stock related to share-based awards, net	(723)	$ 2	(725)						(723)
Issuance of common stock related to share-based awards, net (in shares)		203,000
Dividends on common stock	(7,464)				(7,464)				(7,464)
Deferred compensation plan	6					2	$ 4		6
Net cash distributed to noncontrolling interest								(1,810)	(1,810)
Balance at Mar. 31, 2019	1,991,527	$ 938	1,491,585	(1,062)	499,452	827	$ (213)	23,604	2,015,131
Balance (in shares) at Mar. 31, 2019		93,821,000					11,000
Increase (Decrease) in Stockholders' Equity
Adoption of accounting standards	(5,691)				(5,691)				(5,691)
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
Increase (Decrease) in Stockholders' Equity
Net income	49,636				49,636			3,966	53,602
Other comprehensive loss	9,520			9,520					9,520
Stock-based compensation expense	3,642		3,642						3,642
Common stock issued to board members	146		146						146
Common stock issued to board members (in shares)		10,000
Issuance of common stock related to share-based awards, net	(469)	$ 2	(471)						(469)
Issuance of common stock related to share-based awards, net (in shares)		158,000
Repurchases of common stock	(14,957)	$ (7)	(11,249)		(3,701)				$ (14,957)
Repurchases of common stock (in shares)		(701,000)							(700,901)
Dividends on common stock	(8,158)				(8,158)				$ (8,158)
Deferred compensation plan	3					(2)	$ 5		3
Net cash distributed to noncontrolling interest								(2,701)	(2,701)
Balance at Mar. 31, 2020	$ 2,136,711	$ 901	$ 1,437,301	$ 20,939	$ 676,946	$ 774	$ (150)	$ 27,022	$ 2,163,733
Balance (in shares) at Mar. 31, 2020		90,108,000					8,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Apr. 30, 2020	Mar. 31, 2020	Mar. 31, 2019
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.09	$ 0.09	$ 0.08

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities
Net income	$ 53,602	$ 39,777
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	34,549	951
Depreciation, amortization and accretion, net	1,883	(2,283)
Net realized losses (gains) on securities	(158)
Net change in fair value of equity securities	59	(24)
Deferred income taxes	(2,053)	876
Other, net	(2,311)	2,601
Net change in securities purchased under agreements to resell	35,675	(3,594)
Net change in trading securities	295,995	42,171
Net change in broker-dealer and clearing organization receivables	11,768	(124,407)
Net change in other assets	(243,683)	(534)
Net change in broker-dealer and clearing organization payables	(281,891)	119,673
Net change in other liabilities	(73,963)	(55,210)
Net change in securities sold, not yet purchased	(21,049)	(12,313)
Proceeds from sale of mortgage servicing rights asset	18,650
Net gains from sales of loans	(150,486)	(96,139)
Loans originated for sale	(4,256,981)	(2,596,880)
Proceeds from loans sold	3,994,119	3,009,282
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total	(586,275)	323,947
Net cash provided by operating activities for discontinued operations	3,505	2,155
Net cash provided by (used in) operating activities	(582,770)	326,102
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	37,624	6,340
Proceeds from sales, maturities and principal reductions of securities available for sale	73,889	30,620
Purchases of securities held to maturity	(6,532)	(25,243)
Purchases of securities available for sale	(119,778)	(172,511)
Net change in loans held for investment	(19,692)	(159,202)
Purchases of premises and equipment and other assets	(17,754)	(8,454)
Proceeds from sales of premises and equipment and other real estate owned	15,350	5,892
Net cash received from (paid for) Federal Home Loan Bank and Federal Reserve Bank stock	18,685	7,172
Net cash used in investing activities for continuing operations	(18,208)	(315,386)
Net cash provided by investing activities for discontinued operations	1,794	8,576
Net cash provided by investing activities	(16,414)	(306,810)
Financing Activities
Net change in deposits	850,829	(162,408)
Net change in short-term borrowings	(94,062)	(151,282)
Proceeds from notes payable	273,386	134,639
Payments on notes payable	(285,639)	(138,160)
Payments to repurchase common stock	(14,957)
Dividends paid on common stock	(8,158)	(7,464)
Net cash received from (distributed to) noncontrolling interest	(2,701)	(1,810)
Taxes paid on employee stock awards netting activity	(469)	(723)
Other, net	(155)	(69)
Net cash provided by financing activities	718,074	(327,277)
Net change in cash, cash equivalents and restricted cash	118,890	(307,985)
Cash, cash equivalents and restricted cash, beginning of period	642,789	778,466
Cash, cash equivalents and restricted cash, end of period	761,679	470,481
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	37,041	39,297
Cash paid for income taxes, net of refunds	1,771	(270)
Supplemental Schedule of Non-Cash Activities
Derecognition of construction in progress related to build-to-suit lease obligations		29,195
Conversion of loans to other real estate owned	182	1,578
Additions to mortgage servicing rights	$ 4,475	$ 1,861

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 524,370	$ 273,589
Cash and due from bank included within assets held for sale	58,103	39,603
Federal funds sold	401	438
Assets segregated for regulatory purposes	178,805	156,851
Total cash, cash equivalents and restricted cash	$ 761,679	$ 470,481

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	3 Months Ended
	Mar. 31, 2020
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. ​ 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 subject to customary closing conditions, including required regulatory approvals, and is expected to close during the second quarter of 2020. Accordingly, as of March 31, 2020 and for all prior periods, NLC’s results have been presented as discontinued operations and its assets and liabilities have been classified as held for sale in the consolidated financial statements. Unless otherwise indicated, information included in the notes to the consolidated financial statements are presented on a consolidated operations basis, which includes results from both continuing and discontinued operations, for all periods presented. For further details, see Note 3 to the consolidated financial statements. ​ Basis of Presentation ​ The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), and in conformity with the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these financial statements contain all adjustments necessary for a fair statement of the results of the interim periods presented. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (“2019 Form 10-K”). Results for interim periods are not necessarily indicative of results to be expected for a full year or any future period. ​ The preparation of financial statements in conformity with 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 credit 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. Other than changes related to the implementation of the current expected credit losses standard (ASU 2016-13), the Company has applied its critical accounting policies and estimation methods consistently in all periods presented in these consolidated financial statements. Actual amounts and values as of the balance sheet dates may be materially different than the amounts and values reported due to the inherent uncertainty in the estimation process. Also, future amounts and values could differ materially from those estimates due to changes in values and circumstances after the balance sheet date. ​ 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 Inc. (“HTS Independent Network”) (collectively, the “Hilltop Broker-Dealers”) and Hilltop Securities Asset Management, LLC. Hilltop Securities is a broker-dealer registered with the SEC and Financial Industry Regulatory Authority (“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 % of the membership interest in HTH Diamond Hillcrest Land LLC (“Hillcrest Land LLC”) which is consolidated under the aforementioned VIE Subsections of the ASC. These entities are related to the Hilltop Plaza investment discussed in detail in Note 18 to the consolidated financial statements included in the Company’s 2019 Form 10-K and are collectively referred to as the “Hilltop Plaza Entities.” ​ 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 and reclassifications due to the presentation of NLC’s results as discontinued operations and its assets and liabilities classified as held for sale. 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. ​ Significant accounting policies are detailed in Note 1 to the consolidated financial statements included in the Company’s 2019 Form 10-K. As a result of the adoption of ASU 2016-13 and related updates, improvements and technical corrections (collectively, “CECL”), the Company has included new or modified significant accounting policies as summarized below. ​ Securities ​ Management classifies securities at the time of purchase and reassesses such designations 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. The Company 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. ​ Allowance for Credit Losses on Available for Sale and Held to Maturity Securities ​ Available for sale debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. For available for sale debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Declines in fair value that have not been recorded through an allowance for credit losses, such as declines due to changes in market interest rates, are recorded through other comprehensive income, net of applicable taxes. ​ Allowances for credit losses may result from credit deterioration of the issuer or the collateral underlying the security. In performing an assessment of whether any decline in fair value is due to a credit loss, all relevant information is considered at the individual security level. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis for the security, a credit loss exists and an allowance for credit losses is recorded, limited to the amount by which the fair value is less than the amortized cost basis. ​ CECL has replaced the previous other-than-temporary-impairment (“OTTI”) model. Under the OTTI model, credit losses were recognized as a reduction to the cost basis of the investment with recovery of an impairment loss recognized prospectively over time as interest income, and reversals of impairment were not allowed. Under CECL, effective January 1, 2020, if the Company intends to sell a debt security, or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the debt security is written down to its fair value and the write down is charged against the allowance for credit losses, with any incremental impairment reported in earnings. Reversals of the allowance for credit losses are permitted and should not exceed the allowance amount initially recognized. ​ For debt securities held to maturity, estimated expected credit losses are calculated in a manner like that used for loans held for investment. That is, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources and adjusted for the expected effects of reasonable and supportable forecasts over the expected lives of the securities on those historical credit losses. With respect to certain classes of debt securities, primarily U.S. Treasuries, the Company considers the history of credit losses, current conditions and reasonable and supportable forecasts, which may indicate that the expectation that nonpayment of the amortized cost basis is or continues to be zero, even if the U.S. government were to technically default. Therefore, for those securities, the Company does not record expected credit losses. ​ 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 credit 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. ​ The accrual of interest on credit deteriorated 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. Once placed on non-accrual status, interest income is recognized on a cash basis. Additionally, accretion of purchased discount on non-accrual loans is suspended. ​ The Company follows applicable regulatory guidance when measuring past due status. The Company uses the actual days elapsed since the payment due date of the loan to determine delinquency. ​ Management defines 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 credit losses. Acquired loans are segregated between those considered to be credit deteriorated and those without credit deterioration at acquisition. To make this determination, management considers such factors as past due status, non-accrual status and credit risk ratings. For acquired performing loans, a lifetime allowance for credit losses is estimated as of the date of acquisition and is recorded through provision for (reversal of) credit losses. The difference between the purchase price and loan receivable is amortized over the remaining life of the loan. ​ All formerly designated purchased credit impaired (“PCI”) loans became purchased credit deteriorated (“PCD”) loans effective January 1, 2020. PCD loans are loans that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination. For PCD loans, any non-credit discount or premium related to an acquired pool of PCD loans is allocated to each individual asset within the pool. On the acquisition date, the initial allowance for credit losses measured on a pooled basis is allocated to each individual asset within the pool to allocate any non-credit discount or premium. Credit losses are measured based on unpaid principal balance. A lifetime allowance for credit losses is estimated as of the date of acquisition. The initial allowance for credit losses is added to the purchase price and is considered to be part of the PCD loan amortized cost basis. ​ Allowance for Credit Losses for Loans Held for Investment ​ Credit quality within the loans held for investment portfolio is continuously monitored by management and is reflected within the allowance for credit losses for loans. The allowance for credit losses, or reserve, is an estimate of expected losses over the lifetime of a loan within the Company’s existing loans held for investment portfolio. The allowance for credit losses for loans held for investment is adjusted by a provision for (reversal of) credit losses, which is reported in earnings, and reduced by the charge-off of loan amounts, net of recoveries. ​ The credit loss estimation process involves procedures to appropriately consider the unique characteristics of the Company’s loan portfolio segments, which are further disaggregated into loan classes, the level at which credit risk is monitored. The allowance for credit losses for loans not evaluated for specific reserves is calculated using statistical credit factors, including probabilities of default (“PD”) and loss given default (“LGD”), to the amortized cost of pools of loan exposures with similar risk characteristics over its contractual life, adjusted for prepayments, to arrive at an estimate of expected credit losses. Economic forecasts are applied over the period management believes it can estimate reasonable and supportable forecasts. Reasonable and supportable forecast periods and reversion assumptions to historical data are credit model specific. The Company typically forecasts economic variables over a one to four year horizon. Prepayments are estimated by loan type using historical information and adjusted for current and future conditions. ​ Commercial loans that exceed a minimum size scope are underwritten and graded using credit models that leverage national industry default data to score the loans. At the conclusion of the process of underwriting or re-grading a borrower, each borrower (for commercial and industrial loans) or property (for commercial real estate loans) is assigned a PD grade threshold. The valuation methodology of risk rating internal grades is based on the merits of the financial ratios of the borrower or the property. In addition, an LGD grade is determined by the credit models utilizing collateral information provided. A master rating scale effectively "pools" the loans by credit scores and assigns a standard one year PD percentage and an LGD percentage equally for all loans that have a given score. For borrowers or loans that do not meet the minimum balance threshold, an internal scorecard is utilized to approximate the grades derived from the credit models and is mapped to the master rating scale. The resulting numerical PD grade is the credit quality indicator for commercial loans. The grades on borrowers or properties that are scored in the credit models are determined at origination and updated at least annually. The grades on the internal scorecards are updated annually if they meet a minimum threshold, or if new circumstances (favorable or unfavorable) warrant a re-scoring. ​ When computing allowance levels, credit loss assumptions are estimated using models that analyze loans according to credit risk ratings, historic loss experience, past due status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. Future factors and forecasts may result in significant changes in the allowance and provision (reversal) for credit losses in those future periods. The allowance for credit losses will primarily reflect estimated losses for pools of loans that share similar risk characteristics, but will also consider individual loans that do not share risk characteristics with other loans. ​ Loans that Share Risk Characteristics with Other Loans ​ In estimating the component of the allowance for credit losses for loans that share similar risk characteristics with other loans, such loans are segregated into loan classes. Loans are designated into loan classes based on loans pooled by product types and similar risk characteristics or areas of risk concentration. In determining the allowance for credit losses, the Company derives an estimated credit loss assumption from a model that categorizes loan pools based on loan type and internal risk rating or past due category as follows. ​ Commercial and Industrial and Commercial Real Estate Loans. ​ These factors are based on an evaluation of historical and current information and sometimes involve subjective assessment and interpretation. Specific considerations for construction are considered in the internal PD and LGD risk ratings including property type, development phase and complexity, as well as lease-up and stabilization projections. The PD and LGD factors are further sensitized in the models for future expectations over the loan’s contractual life, adjusted for prepayments. ​ 1-4 Family Residential Loans. The 1-4 family residential loan portfolio is segmented into pools of residential real estate loans with similar credit risk characteristics. The models calculate expected losses and prepayments using borrower information at origination, including FICO score, loan type, collateral type, lien position, geography, origination year, and loan to value. Past due status post-origination is also a key input in the models. Current and future changes in economic conditions, including unemployment rates, home prices, index rates, and mortgage rates, are also considered. ​ Consumer Loans. The consumer loan portfolio is segmented into pools of consumer installment loans or revolving lines of credit with similar credit characteristics. The models calculate expected losses using borrower information at origination, including FICO score, origination year, geography, and collateral type. ​ Broker-Dealer Loans. The broker-dealer loan portfolio is evaluated on an individual basis using the collateral-dependent practical expedient. The collateral-dependent practical expedient allows the broker-dealer to compare the fair value of the collateral of each loan as of the reporting date to loan value. The underlying collateral of the loans to customers and correspondents is marked to market daily and any required additional collateral is collected. The allowance represents the amount of unsecured loan balances at the end of the period. ​ Qualitative Factors ​ Estimating the timing and amounts of future loss cash flows is subject to significant management judgment as these loss cash flows rely upon estimates such as default rates, loss severities, collateral valuations, the amounts and timing of principal payments (including any expected prepayments) or other factors that are reflective of current or future expected conditions. These estimates, in turn, depend on the duration of current overall economic conditions, industry, borrower, or portfolio specific conditions, the expected outcome of bankruptcy or insolvency proceedings, as well as, in certain circumstances, other economic factors, including the level of current and future real estate prices. All of these estimates and assumptions require significant management judgment and certain assumptions that are highly subjective. Model imprecision also exists in the allowance for credit losses estimation process due to the inherent time lag of available industry information and differences between expected and actual outcomes. ​ Management considers adjustments for these conditions in its allowance for credit loss estimates qualitatively where they may not be measured directly in its individual or collective assessments, including but not limited to: ● an adjustment to historical loss data to measure credit risk even if that risk is remote and does not meet the scope of assets with zero expected losses; ● the environmental factors and the areas in which credit is concentrated, such as the regulatory, environmental, or technological environment, the geographical area or key industries, or in the national or regional economic and business conditions where the borrower has exposure; ● the nature and volume of the borrower’s financial assets; ● the borrower’s financial condition, credit rating, credit score, asset quality, or business prospects; ● the borrower’s ability to make scheduled interest or principal payments; ● the remaining payment terms of the financial assets and the remaining time to maturity and the timing and extent of prepayments on the financial assets; ● the volume and severity of past due or adversely classified financial assets; ● the value of underlying collateral in which the collateral-dependent practical expedient has not been utilized; ● any updates to credit lending policies and procedures, including lending strategies, underwriting standards, collection and recovery practices, not reflected in the models; and ● the quality of the internal credit review system. ​ Loans that Do Not Share Risk Characteristics with Other Loans ​ When a loan is assigned a substandard non-accrual risk rating grade, the loan subsequently is evaluated on an individual basis and no longer evaluated on a collective basis. The net realizable value of the loan is compared to the appropriate loan basis (i.e. PCD loan versus non-PCD loan) to determine any allowance for credit losses. Loans that are below a predetermined threshold, with the exception of 1-4 family residential loans, are fully reserved. ​ The Company generally considers non-accrual loans to be collateral-dependent. The practical expedient to measure credit losses using the fair value of the collateral has been exercised. ​ For commercial real estate loans, the fair value of collateral primarily is based on appraisals. For owner occupied real estate loans, underlying properties are occupied by the borrower in its business, and evaluations are based on business operations used to service the debt. For non-owner occupied real estate loans, underlying properties are income-producing and evaluations are based on tenant revenues. For income producing construction and land development loans, appraisals reflect the assumption that properties are completed. ​ For 1-4 family residential loans that are graded substandard non-accrual, an assessment of value is made using the most recent appraisal on file. If the appraisal on file is older than two years, the latest property tax assessment is used as a screening value to determine if a reserve might be required. If the assessed value is less than the appraised value, this value is discounted for selling costs and is used to measure the reserve required. If the appraisal is less than two years old, the value is discounted for selling costs and compared to the appropriate basis in the loan. ​ Consumer loans are charged off when they reach 90 days delinquency as a general rule. There are limited cases where the loan is not charged off due to special circumstances and is subject to the collateral review process. ​ Off-Balance Sheet Credit Exposures, Including Unfunded Loan Commitments ​ The Company maintains a separate allowance for credit losses from off-balance sheet credit exposures, including unfunded loan commitments, which is included in other liabilities within the consolidated balance sheets. The Company estimates expected losses by calculating a commitment usage factor based on industry usage factors. The commitment usage factor is applied over the relevant contractual period. Loss factors from the underlying loans to which commitments are related are applied to the results of the usage calculation to estimate any liability for credit losses related for each loan type. ​ ​

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2020
Recently Issued Accounting Standards
Recently Issued Accounting Standards	2. Recently Issued Accounting Standards ​ Accounting Standards Adopted During 2020 ​ In March 2020, FASB issued ASU 2020-03 which included various clarifications and improvements related to financial instruments. The following topics are addressed: fair value option disclosures, applicability of portfolio exception to non-financial items, disclosures for depository and lending institutions, cross-reference to line-of-credit or revolving debt arrangements, cross-reference to net asset value practical expedient, the contractual term of a net investment in a lease for measuring expected credit losses, and recording of an allowance for credit losses when control of financial assets sold is regained. All items had various effective dates, which for the Company ranged from January 1, 2020 to the date of issuance. The adoption of ASU 2020-03 did not have a material impact on the Company’s consolidated financial statements. ​ 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 did not have a material impact on the Company’s 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 did not have an impact on the Company’s 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 did not have an impact on the Company’s 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 , replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. For available for sale securities, the standard modifies the current OTTI model by requiring entities to record an allowance for credit losses rather than reducing the carrying amount of securities. Additionally, the new standard eliminated the former accounting model for PCI loans, but requires an allowance to be recognized for PCD assets. The new standard also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. The Company’s implementation efforts have included, among other activities, the development, testing and validation of credit forecasting models and a new credit scoring system for significant loan portfolio segments, reassessment of risk rating grades and matrix, as well as development of the policies, systems and controls required to fully implement CECL. The new standard is effective for the Company for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2019, with a cumulative-effect adjustment to retained earnings at the date of adoption. On January 1, 2020, the Company adopted the new CECL standard and recorded entries that resulted in an aggregate allowance for credit losses of $83.6 million within the consolidated balance sheets. The transition adjustment resulted in a net of tax, decrease of $5.7 million to opening retained earnings at January 1, 2020. The decrease to retained earnings included an initial estimate of lifetime expected credit losses for PCD loans and was recognized through a balance sheet gross-up. While not material, the impact of the adoption of CECL also affected the Company’s regulatory capital, performance and other asset quality ratios. Future changes in the allowance for credit losses are expected to be volatile given dependence upon, among other things, the portfolio composition and quality, as well as the impact of significant drivers, including prepayment assumptions and macroeconomic conditions and forecasts. ​ Accounting Standards Issued But Not Yet Adopted ​ In March 2020, FASB issued ASU 2020-04, which is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the provisions of the amendment and the impact on its future consolidated financial statements. ​ In January 2020, FASB issued ASU 2020-01 to clarify the interaction among ASC 321, ASC 323, and ASC 815 for equity securities, equity method investments, and certain financial instruments to acquire equity securities. ASU 2020-01 clarifies whether re-measurement of equity investments is appropriate when observable transactions cause the equity method to be triggered or discontinued. ASU 2020-01 also provides that certain forward contracts and purchased options to acquire equity securities will be measured under ASC 321 without an assessment of subsequent accounting upon settlement or exercise. The amendment is effective in periods beginning after December 15, 2020. The Company does not expect the adoption of ASU 2020-01 to have a material impact on its consolidated financial statements. ​ ​

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2020
Discontinued Operations
Discontinued Operations	T 3. Discontinued Operations ​ NLC Sale ​ 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 subject to customary closing conditions, including required regulatory approvals. Management determined that the pending sale of NLC represents a strategic shift away from one of the historically core business units of the Company. Accordingly, as of March 31, 2020 and for all prior periods, NLC’s results have been presented as discontinued operations and its assets and liabilities have been classified as held for sale in the consolidated financial statements. Hilltop anticipates that this transaction will result in a net gain. ​ All related notes to consolidated financial statements for discontinued operations have been included in this note. ​ The following table details the carrying amounts of assets and liabilities of NLC reflected in the consolidated balance sheets under the caption “Assets held for sale” and “Liabilities held for sale”, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 58,103 ​ $ 51,333 Securities: ​ ​ ​ ​ ​ ​ Available for sale, at fair value ​ ​ 86,101 ​ ​ 86,899 Equity, at fair value ​ ​ 15,440 ​ ​ 19,841 ​ ​ ​ 101,541 ​ ​ 106,740 ​ ​ ​ ​ ​ ​ ​ Premises and equipment, net ​ ​ 9,058 ​ ​ 9,607 Operating lease right-of-use assets ​ ​ 2,674 ​ ​ 2,739 Other assets ​ ​ 50,966 ​ ​ 50,533 Goodwill ​ ​ 23,988 ​ ​ 23,988 Other intangible assets, net ​ ​ 3,428 ​ ​ 3,489 Total assets held for sale ​ $ 249,758 ​ $ 248,429 ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Notes payable ​ $ 27,500 ​ $ 27,500 Operating lease liabilities ​ ​ 2,727 ​ ​ 2,783 Other liabilities ​ ​ 109,503 ​ ​ 110,391 Total liabilities held for sale ​ $ 139,730 ​ $ 140,674 ​ The following table presents the results of discontinued operations for NLC for the periods indicated. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Interest income: ​ ​ ​ ​ ​ ​ Securities: ​ ​ ​ ​ ​ ​ Taxable ​ $ 938 ​ $ 960 Other ​ ​ 67 ​ ​ 142 Total interest income ​ ​ 1,005 ​ ​ 1,102 ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ Notes payable ​ ​ 406 ​ ​ 460 ​ ​ ​ ​ ​ ​ ​ Noninterest income: ​ ​ ​ ​ ​ ​ Net insurance premiums earned ​ ​ 32,637 ​ ​ 33,203 Other ​ ​ (2,246) ​ ​ 3,302 Total noninterest income ​ ​ 30,391 ​ ​ 36,505 ​ ​ ​ ​ ​ ​ ​ Noninterest expense: ​ ​ ​ ​ ​ ​ Employees' compensation and benefits ​ ​ 2,777 ​ ​ 3,202 Occupancy and equipment, net ​ ​ 247 ​ ​ 244 Professional services ​ ​ 8,527 ​ ​ 8,833 Loss and loss adjustment expenses ​ ​ 12,949 ​ ​ 14,926 Other ​ ​ 2,476 ​ ​ 3,133 Total noninterest expense ​ ​ 26,976 ​ ​ 30,338 ​ ​ ​ ​ ​ ​ ​ Income from discontinued operations before income taxes ​ ​ 4,014 ​ ​ 6,809 Income tax expense ​ ​ 863 ​ ​ 1,449 Income from discontinued operations, net of income taxes ​ $ 3,151 ​ $ 5,360 ​ ​ ​ ​ Securities ​ The available for sale securities held by NLC at March 31, 2020 and December 31, 2019 reflected in the consolidated balance sheets under the caption “Assets held for sale” were primarily comprised of U.S. Treasury, residential mortgage-backed and corporate debt securities with aggregate unrealized gross gains of $3.5 million and $2.5 million, respectively, and measured using Level 2 inputs on a recurring basis. NLC’s available for sale portfolio had no unrealized gross losses at March 31, 2020 and nominal unrealized gross losses at December 31, 2019. ​ NLC had unrealized net losses of $3.3 million and unrealized net gains of $1.1 million from the equity securities held at March 31, 2020 and December 31, 2019, respectively, measured using Level 1 inputs on a recurring basis. NLC recognized net losses of $4.4 million and net gains of $1.2 million during the three months ended March 31, 2020 and 2019, respectively, due to changes in the fair value of equity securities still held at the balance sheet date. ​ At March 31, 2020 and December 31, 2019, NLC had investments on deposit in custody for various state insurance departments with aggregate carrying values of $9.5 million and $9.3 million, respectively . ​ Notes Payable ​ The NLIC and ASIC notes payable of $27.5 million, with maturities ranging from May 2033 to April 2034, to unaffiliated companies are each subordinated in right of payment to all policy claims and other indebtedness of NLIC and ASIC, respectively. ​ Regulatory Matters ​ The statutory financial statements of the Company's insurance subsidiaries, which are domiciled in the State of Texas, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Statutory capital and surplus: ​ ​ ​ ​ ​ ​ ​ National Lloyds Insurance Company ​ $ 73,892 ​ $ 70,112 ​ American Summit Insurance Company ​ 17,999 ​ 19,201 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Statutory net income (loss): ​ ​ ​ ​ ​ ​ National Lloyds Insurance Company $ 6,527 ​ $ 3,417 ​ American Summit Insurance Company (185) ​ 417 ​ ​ 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 March 31, 2020, 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 March 31, 2020, the Company's insurance subsidiaries' RBC ratio exceeded the level at which regulatory action would be required. ​ Reserve for Losses and Loss Adjustment Expenses ​ A rollforward of NLC’s reserve for unpaid losses and LAE, as included in other liabilities and reflected as a part of liabilities held for sale for all periods within the consolidated balance sheets, is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ 2020 2019 ​ Balance, beginning of period ​ $ 15,342 ​ $ 20,552 ​ Less reinsurance recoverables ​ ​ (1,005) ​ ​ (3,214) ​ Net balance, beginning of period ​ ​ 14,337 ​ ​ 17,338 ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred related to: ​ ​ ​ ​ ​ ​ ​ Current year ​ ​ 11,657 ​ ​ 13,993 ​ Prior years ​ ​ 1,474 ​ ​ 935 ​ Total incurred ​ ​ 13,131 ​ ​ 14,928 ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments related to: ​ ​ ​ ​ ​ ​ ​ Current year ​ ​ (7,377) ​ ​ (7,029) ​ Prior years ​ ​ (6,329) ​ ​ (7,152) ​ Total payments ​ ​ (13,706) ​ ​ (14,181) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net balance, end of period ​ ​ 13,762 ​ ​ 18,085 ​ Plus reinsurance recoverables ​ ​ 746 ​ ​ 2,506 ​ Balance, end of period ​ $ 14,508 ​ $ 20,591 ​ ​ A summary of claims loss reserve development activity is presented in the following table (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance ​ March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ But Not ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reported ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reserves Plus Cumulative ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development Number of Accident ​ March 31, 2020 ​ ​ On Reported Reported Year ​ 2017 ​ 2018 ​ 2019 ​ 2020 ​ Claims Claims 2017 ​ $ 87,899 ​ $ 88,025 ​ $ 87,534 ​ $ 87,568 ​ $ 216 ​ 20,174 2018 ​ ​ ​ ​ ​ 75,217 ​ ​ 73,261 ​ ​ 73,314 ​ ​ 927 ​ 14,713 2019 ​ ​ ​ ​ ​ ​ ​ ​ 71,687 ​ ​ 73,072 ​ ​ 4,009 ​ 13,798 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 11,657 ​ 1,565 ​ 2,317 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 245,611 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance ​ ​ ​ ​ ​ Accident ​ March 31, 2020 ​ ​ ​ ​ ​ Year ​ 2017 ​ 2018 ​ 2019 ​ 2020 ​ ​ ​ ​ ​ 2017 ​ $ 77,675 ​ $ 86,319 ​ $ 87,203 ​ $ 87,291 ​ ​ ​ ​ ​ 2018 ​ ​ ​ ​ ​ 61,922 ​ ​ 70,958 ​ ​ 72,255 ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ 55,014 ​ ​ 66,150 ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7,377 ​ ​ ​ ​ ​ Total ​ $ 233,073 ​ ​ ​ ​ ​ All outstanding reserves prior to 2017, net of reinsurance ​ ​ 466 ​ ​ ​ ​ ​ Reserve for unpaid losses and allocated loss adjustment expenses, net of reinsurance ​ $ 13,004 ​ ​ ​ ​ ​ ​ 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, an allowance for credit losses is 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 March 31, 2020, total reinsurance recoverables and receivables had a carrying value of $1.5 million, which is included in other assets within the consolidated balance sheets. There was no allowance for credit losses on reinsurance receivables at March 31, 2020, based on NLC’s quality requirements. ​ The effects of reinsurance on premiums written and earned are included within discontinued operations for all periods presented and are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ Written Earned Written Earned Premiums from direct business ​ $ 29,980 ​ $ 30,746 ​ $ 30,790 ​ $ 31,737 ​ ​ Reinsurance assumed ​ 2,952 ​ 3,244 ​ 3,129 ​ 3,191 ​ ​ Reinsurance ceded ​ (1,353) ​ (1,353) ​ (1,725) ​ (1,725) ​ ​ Net premiums ​ $ 31,579 ​ $ 32,637 ​ $ 32,194 ​ $ 33,203 ​ ​ ​ ​ The effects of reinsurance on incurred losses and LAE are included within discontinued operations for all periods and are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Losses and LAE incurred ​ $ 12,763 ​ $ 14,985 ​ ​ Reinsurance recoverables ​ 186 ​ (59) ​ ​ Net loss and LAE incurred ​ $ 12,949 ​ $ 14,926 ​ ​ ​ ​ Catastrophic coverage ​ Effective July 1, 2019, NLC renewed its catastrophic excess of loss reinsurance coverage for a one-year period. At March 31, 2020, 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 March 31, 2020, 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.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements
Fair Value Measurements	4. 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 retained mortgage servicing rights (“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 March 31, 2020 and December 31, 2019, the aggregate fair value of PrimeLending’s mortgage loans held for sale accounted for under the Fair Value Option was $2.09 billion and $1.94 billion, respectively, and the unpaid principal balance of those loans was $2.00 billion and $1.88 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. 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. ​ 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 March 31, 2020 ​ Inputs ​ Inputs ​ Inputs ​ Fair Value Trading securities ​ $ 1,485 ​ $ 392,096 ​ $ — ​ $ 393,581 ​ Available for sale securities ​ ​ — ​ ​ 972,318 ​ ​ — ​ ​ 972,318 ​ Equity securities ​ ​ 107 ​ ​ — ​ ​ — ​ ​ 107 ​ Loans held for sale ​ ​ — ​ ​ 2,010,381 ​ ​ 79,588 ​ ​ 2,089,969 ​ Derivative assets ​ ​ — ​ ​ 192,729 ​ ​ — ​ ​ 192,729 ​ MSR asset ​ ​ — ​ ​ — ​ ​ 30,299 ​ ​ 30,299 ​ Securities sold, not yet purchased ​ ​ 11,333 ​ ​ 11,435 ​ ​ — ​ ​ 22,768 ​ Derivative liabilities ​ ​ — ​ ​ 171,210 ​ ​ — ​ ​ 171,210 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ — ​ ​ 911,493 ​ ​ — ​ ​ 911,493 ​ Equity securities ​ ​ 166 ​ ​ — ​ ​ — ​ ​ 166 ​ 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 ​ ​ The following tables include 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 to ​ Included in ​ Comprehensive ​ Balance at ​ ​ Period ​ Additions ​ Reductions ​ (from) Level 3 ​ Net Income ​ Income (Loss) ​ End of Period Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 67,195 ​ $ 14,285 ​ $ (4,175) ​ $ 6,220 ​ $ (3,937) ​ $ — ​ $ 79,588 ​ MSR asset ​ 55,504 ​ ​ 4,475 ​ ​ (18,650) ​ ​ — ​ ​ (11,030) ​ ​ — ​ 30,299 ​ Total ​ $ 122,699 ​ $ 18,760 ​ $ (22,825) ​ $ 6,220 ​ $ (14,967) ​ $ — ​ $ 109,887 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 50,464 ​ $ 15,427 ​ $ (6,976) ​ $ 1,037 ​ $ (2,108) ​ $ — ​ $ 57,844 ​ MSR asset ​ ​ 66,102 ​ ​ 1,861 ​ ​ — ​ ​ — ​ ​ (5,914) ​ ​ — ​ ​ 62,049 ​ Total ​ $ 116,566 ​ $ 17,288 ​ $ (6,976) ​ $ 1,037 ​ $ (8,022) ​ $ — ​ $ 119,893 ​ ​ All net realized and unrealized gains (losses) in the tables above are reflected in the accompanying consolidated financial statements. The unrealized gains (losses) relate to financial instruments still held at March 31, 2020. ​ For Level 3 financial instruments measured at fair value on a recurring basis at March 31, 2020 and December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Range (Weighted-Average) ​ ​ ​ ​ ​ ​ March 31, ​ December 31, Financial instrument Valuation Technique Unobservable Inputs 2020 ​ 2019 Loans ​ Discounted cash flows / Market comparable ​ Projected price ​ 90 - 94 % ( 93 %) ​ 92 - 96 % ( 95 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MSR asset ​ Discounted cash flows ​ Constant prepayment rate ​ ​ ​ 16.98 % ​ ​ ​ ​ ​ 13.16 % ​ ​ ​ ​ ​ ​ Discount rate ​ ​ ​ 11.01 % ​ ​ ​ ​ ​ 11.14 % ​ ​ ​ The fair value of certain loans held for sale that cannot be sold through normal sale channels or are non-performing is measured using Level 3 inputs. The fair value of such loans is generally based upon estimates of expected cash flows using unobservable inputs, including listing prices of comparable assets, uncorroborated expert opinions, and/or management’s knowledge of underlying collateral. ​ The MSR asset, which is included in other assets within the Company’s consolidated balance sheets, is reported at fair value using Level 3 inputs. The MSR asset is valued by projecting net servicing cash flows, which are then discounted to estimate the fair value. The fair value of the MSR asset is impacted by a variety of factors. Prepayment rates and discount rates, the most significant unobservable inputs, are discussed further in Note 7 to the consolidated financial statements. ​ The Company had no transfers between Levels 1 and 2 during the periods presented. Any transfers are based on changes in the observability and/or significance of the valuation inputs and are assumed to occur at the beginning of the quarterly reporting period in which they occur. ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ Three Months Ended March 31, 2019 ​ ​ ​ Other Total ​ Other Total ​ ​ Net ​ Noninterest ​ Changes in ​ Net ​ Noninterest ​ Changes in ​ ​ ​ Gains (Losses) ​ Income ​ Fair Value ​ Gains (Losses) ​ Income ​ Fair Value ​ Loans held for sale ​ $ 33,979 ​ $ — ​ $ 33,979 ​ $ (13,324) ​ $ — ​ $ (13,324) ​ MSR asset ​ (11,030) ​ — ​ (11,030) ​ (5,914) ​ — ​ (5,914) ​ ​ ​ 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. There have been no changes to the methods for determining estimated fair value for financial assets and liabilities as described in detail in Note 3 to the consolidated financial statements included in the Company’s 2019 Form 10-K. ​ 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 ​ ​ March 31, 2020 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 524,771 ​ $ 524,771 ​ $ — ​ $ — ​ $ 524,771 ​ Assets segregated for regulatory purposes ​ ​ 178,805 ​ ​ 178,805 ​ ​ — ​ ​ — ​ ​ 178,805 ​ Securities purchased under agreements to resell ​ ​ 23,356 ​ ​ — ​ ​ 23,356 ​ ​ — ​ ​ 23,356 ​ Held to maturity securities ​ ​ 355,110 ​ ​ — ​ ​ 369,614 ​ ​ — ​ ​ 369,614 ​ Loans held for sale ​ ​ 343,438 ​ ​ — ​ ​ 343,438 ​ ​ — ​ ​ 343,438 ​ Loans held for investment, net ​ ​ 7,238,511 ​ ​ — ​ ​ 506,250 ​ ​ 6,845,844 ​ ​ 7,352,094 ​ Broker-dealer and clearing organization receivables ​ 1,838,789 ​ — ​ 1,838,789 ​ — ​ 1,838,789 ​ Other assets ​ 73,118 ​ — ​ 70,544 ​ 2,574 ​ 73,118 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 9,947,489 ​ — ​ 9,962,915 ​ — ​ 9,962,915 ​ Broker-dealer and clearing organization payables ​ 1,259,181 ​ — ​ 1,259,181 ​ — ​ 1,259,181 ​ Short-term borrowings ​ 1,329,948 ​ — ​ 1,329,948 ​ — ​ 1,329,948 ​ Debt ​ 311,054 ​ — ​ 311,054 ​ — ​ 311,054 ​ Other liabilities ​ 6,376 ​ — ​ 6,376 ​ — ​ 6,376 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ Carrying Level 1 Level 2 Level 3 ​ ​ December 31, 2019 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 434,020 ​ $ 434,020 ​ $ — ​ $ — ​ $ 434,020 ​ 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 ​ 323,281 ​ — ​ 323,281 ​ — ​ 323,281 ​ Other liabilities ​ 8,340 ​ — ​ 8,340 ​ — ​ 8,340 ​ ​ The Company held equity investments other than securities of $34.9 million and $36.6 million at March 31, 2020 and December 31, 2019, respectively, which are included within other assets in the consolidated balance sheets. Of the $34.9 million of such equity investments held at March 31, 2020, $19.1 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 during the periods presented (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Balance, beginning of period ​ $ 19,771 $ 20,376 Additional investments ​ ​ ​ — ​ ​ — Upward adjustments ​ ​ ​ 106 ​ ​ 101 Impairments and downward adjustments ​ ​ ​ (789) ​ ​ — Dispositions ​ ​ — ​ — Balance, end of period ​ ​ $ 19,088 ​ $ 20,477 ​

Securities

Securities	3 Months Ended
	Mar. 31, 2020
Securities
Securities	5. Securities ​ The fair value of trading securities is summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 2019 U.S. Treasury securities $ 1,485 $ — U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ ​ — ​ ​ 24,680 ​ ​ Residential mortgage-backed securities ​ 164,899 ​ 331,601 ​ ​ Commercial mortgage-backed securities ​ 2,136 ​ 2,145 ​ ​ Collateralized mortgage obligations ​ ​ 80,262 ​ ​ 191,154 ​ ​ Corporate debt securities ​ ​ 28,893 ​ ​ 36,973 ​ ​ States and political subdivisions ​ ​ 103,075 ​ ​ 93,117 ​ ​ Unit investment trusts ​ ​ — ​ ​ 3,468 ​ ​ Private-label securitized product ​ ​ 650 ​ ​ 2,992 ​ ​ Other ​ ​ 12,181 ​ ​ 3,446 ​ ​ Totals ​ $ 393,581 ​ $ 689,576 ​ ​ ​ 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 obligations 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 $22.8 million and $43.8 million at March 31, 2020 and December 31, 2019, 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 ​ ​ ​ March 31, 2020 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 88,299 ​ $ 1,437 ​ $ — ​ $ 89,736 ​ Residential mortgage-backed securities ​ 415,399 ​ 14,435 ​ — ​ 429,834 ​ Commercial mortgage-backed securities ​ ​ 11,436 ​ 967 ​ — ​ 12,403 ​ Collateralized mortgage obligations ​ 385,409 ​ 9,634 ​ (1,057) ​ 393,986 ​ States and political subdivisions ​ 44,613 ​ 1,746 ​ — ​ 46,359 ​ Totals ​ $ 945,156 ​ $ 28,219 ​ $ (1,057) ​ $ 972,318 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ December 31, 2019 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 84,590 ​ $ 1,049 ​ $ (64) ​ $ 85,575 ​ Residential mortgage-backed securities ​ 430,514 ​ 6,662 ​ (147) ​ 437,029 ​ Commercial mortgage-backed securities ​ ​ 11,488 ​ 543 ​ — ​ 12,031 ​ Collateralized mortgage obligations ​ 333,256 ​ 3,175 ​ (815) ​ 335,616 ​ States and political subdivisions ​ 39,969 ​ 1,273 ​ — ​ 41,242 ​ Totals ​ $ 899,817 ​ $ 12,702 ​ $ (1,026) ​ $ 911,493 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to Maturity ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ March 31, 2020 Cost Gains Losses Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 16,809 ​ $ 676 ​ $ — ​ $ 17,485 Commercial mortgage-backed securities ​ ​ 160,113 ​ 10,405 ​ — ​ 170,518 Collateralized mortgage obligations ​ 106,926 ​ 2,260 ​ (37) ​ 109,149 States and political subdivisions ​ 71,262 ​ 1,335 ​ (135) ​ 72,462 Totals ​ $ 355,110 ​ $ 14,676 ​ $ (172) ​ $ 369,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to Maturity ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ December 31, 2019 Cost Gains Losses Fair Value 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 ​ ​ Additionally, the Company had nominal unrealized net losses and unrealized net gains from equity securities with fair values of $0.1 million and $0.2 million held at March 31, 2020 and December 31, 2019, respectively. The Company recognized net losses of $0.1 million and nominal net gains during the three months ended March 31, 2020 and 2019, respectively, due to changes in the fair value of equity securities still held at the balance sheet date. During the three months ended March 31, 2020 and 2019, net gains recognized from equity securities sold were nominal. ​ Information regarding available for sale and held to maturity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ Number of ​ ​ Unrealized Number of ​ ​ Unrealized ​ ​ Securities ​ Fair Value ​ Losses ​ Securities ​ Fair Value ​ Losses Available for Sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ $ — ​ $ — 2 ​ $ 24,937 ​ $ 64 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ ​ — ​ ​ — 2 ​ 24,937 ​ 64 ​ Residential mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 37 ​ 36,187 ​ 87 ​ Unrealized loss for twelve months or longer — ​ — ​ — 2 ​ 13,683 ​ 58 ​ ​ — ​ ​ — ​ ​ — 39 ​ 49,870 ​ 145 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 1 ​ 9,967 ​ 2 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ ​ — ​ ​ — 1 ​ 9,967 ​ 2 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 4 ​ 20,214 ​ 165 15 ​ 94,545 ​ 446 ​ Unrealized loss for twelve months or longer 15 ​ 58,090 ​ 892 13 ​ 46,217 ​ 369 ​ ​ 19 ​ ​ 78,304 ​ ​ 1,057 28 ​ 140,762 ​ 815 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 1 ​ 537 ​ — — ​ — ​ — ​ Unrealized loss for twelve months or longer — ​ — ​ — 1 ​ 487 ​ — ​ ​ 1 ​ ​ 537 ​ ​ — 1 ​ 487 ​ — ​ Total available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 5 ​ 20,751 ​ 165 55 ​ 165,636 ​ 599 ​ Unrealized loss for twelve months or longer 15 ​ 58,090 ​ 892 16 ​ 60,387 ​ 427 ​ ​ 20 ​ $ 78,841 ​ $ 1,057 71 ​ $ 226,023 ​ $ 1,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ 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 — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 2 ​ 9,665 ​ 35 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 2 ​ 15,488 ​ 37 4 ​ 23,904 ​ 287 ​ Unrealized loss for twelve months or longer — ​ — ​ — 8 ​ 59,560 ​ 617 ​ ​ 2 ​ 15,488 ​ 37 12 ​ 83,464 ​ 904 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 27 ​ 10,470 ​ 133 38 ​ 15,996 ​ 124 ​ Unrealized loss for twelve months or longer 2 ​ 604 ​ 2 4 ​ 1,099 ​ 31 ​ ​ 29 ​ 11,074 ​ 135 42 ​ 17,095 ​ 155 ​ Total held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 29 ​ 25,958 ​ 170 52 ​ 94,175 ​ 1,102 ​ Unrealized loss for twelve months or longer 2 ​ 604 ​ 2 12 ​ 60,659 ​ 648 ​ ​ 31 ​ $ 26,562 ​ $ 172 64 ​ $ 154,834 ​ $ 1,750 ​ ​ 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 March 31, 2020 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 ​ $ 2,071 ​ $ 2,090 ​ $ 453 ​ $ 456 ​ Due after one year through five years ​ 73,668 ​ 75,246 ​ 987 ​ 994 ​ Due after five years through ten years ​ 35,387 ​ 35,914 ​ 6,160 ​ 6,264 ​ Due after ten years ​ 21,786 ​ 22,845 ​ 63,662 ​ 64,748 ​ ​ ​ 132,912 ​ 136,095 ​ 71,262 ​ 72,462 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ 415,399 ​ 429,834 ​ 16,809 ​ 17,485 ​ Collateralized mortgage obligations ​ 385,409 ​ 393,986 ​ 106,926 ​ 109,149 ​ Commercial mortgage-backed securities ​ 11,436 ​ 12,403 ​ 160,113 ​ 170,518 ​ ​ ​ $ 945,156 ​ $ 972,318 ​ $ 355,110 ​ $ 369,614 ​ ​ The Company recognized net gains of $7.0 million and $8.1 million from its trading portfolio during the three months ended March 31, 2020 and 2019, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $21.3 million and $25.3 million during the three months ended March 31, 2020 and 2019, respectively. During the three months ended March 31, 2020, the Company had other realized gains on securities of $0.2 million. All such realized gains and losses are recorded as a component of other noninterest income within the consolidated statements of operations. ​ Securities with a carrying amount of $555.7 million and $576.0 million (with a fair value of $573.0 million and $583.6 million, respectively) at March 31, 2020 and December 31, 2019, 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 available for sale and held to maturity securities portfolios at March 31, 2020 and December 31, 2019. ​ Mortgage-backed securities and collateralized mortgage obligations consist primarily of Government National Mortgage Association (“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 enterprises, and conditionally guaranteed by the full faith and credit of the United States. ​ Allowance for Credit Losses for Available for Sale Securities and Held to Maturity Securities ​ The Company has evaluated available for sale debt securities that are in an unrealized loss position and has determined that the decline in value is unrelated to credit loss and is related to changes in market interest rates since purchase. In addition, as of March 31, 2020, the Company had not made a decision to sell any of its debt securities held, nor did the Company consider it more likely than not that it would be required to sell such securities before recovery of their amortized cost basis. The Company does not expect to have credit losses associated with the debt securities and no allowance was recognized on the debt securities portfolio at transition. None of the available for sale debt securities held were past due at March 31, 2020.

Loans Held for Investment

Loans Held for Investment	3 Months Ended
	Mar. 31, 2020
Loans Held for Investment
Loans Held for Investment	6. Loans Held for Investment ​ Loans held for investment summarized by portfolio segment are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Commercial real estate ​ $ 3,062,042 ​ $ 3,000,523 ​ Commercial and industrial ​ 2,101,968 ​ 2,025,720 ​ Construction and land development ​ 955,173 ​ 940,564 ​ 1-4 family residential ​ ​ 676,630 ​ 791,020 ​ Consumer ​ ​ 43,187 ​ 47,046 ​ Broker-dealer (1) ​ ​ 506,250 ​ 576,527 ​ ​ ​ 7,345,250 ​ 7,381,400 ​ Allowance for credit losses ​ (106,739) ​ (61,136) ​ Total loans held for investment, net of allowance ​ $ 7,238,511 ​ $ 7,320,264 ​ (1) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations. ​ Non-accrual loans, excluding those classified as held for sale, are summarized by class in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Commercial real estate: ​ ​ Non-owner occupied ​ $ 18,168 ​ $ 3,813 ​ Owner occupied ​ 5,184 ​ 3,495 ​ Commercial and industrial ​ ​ 47,121 ​ 15,262 ​ Construction and land development ​ 1,402 ​ 1,316 ​ 1-4 family residential ​ 10,599 ​ 7,382 ​ Consumer ​ 310 ​ 26 ​ Broker-dealer ​ — ​ — ​ ​ ​ $ 82,784 ​ $ 31,294 ​ ​ At March 31, 2020 and December 31, 2019, an additional $4.6 million and $4.8 million, respectively, of real estate loans secured by residential properties and classified as held for sale were in non-accrual status. ​ The following table provides further details associated with non-accrual loans (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ Non-accrual Loans ​ Interest Income March 31, 2020 with Allowance with No Allowance Total Recognized (1) Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 9,179 ​ $ 8,989 ​ $ 18,168 ​ $ (97) Owner occupied ​ 1,162 ​ ​ 4,022 ​ ​ 5,184 ​ ​ 16 Commercial and industrial ​ ​ 39,950 ​ ​ 7,171 ​ ​ 47,121 ​ ​ 300 Construction and land development ​ 176 ​ ​ 1,226 ​ ​ 1,402 ​ ​ 22 1-4 family residential ​ 1,516 ​ ​ 9,083 ​ ​ 10,599 ​ ​ 983 Consumer ​ 310 ​ ​ — ​ ​ 310 ​ ​ (5) Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 52,293 ​ $ 30,491 ​ $ 82,784 ​ $ 1,219 (1) Interest income recognized on non-accrual loans during the three months ended March 31, 2019 was $0.4 million. ​ The Company considers non-accrual loans to be collateral-dependent unless there are underlying mitigating circumstances. The practical expedient to measure the allowance using the fair value of the collateral has been implemented. Loans accounted for on a non-accrual basis were primarily comprised of two commercial non-owner occupied real estate loans totaling $15.3 million, a single commercial and industrial loan totaling $23.8 million and various 1-4 family residential, commercial real estate, and construction and land development loans totaling $8.0 million that were previously evaluated as a part of PCI loan pools prior to CECL. ​ 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. ​ Information regarding TDRs granted during the three months ended March 31, 2020, is shown in the following table (dollars in thousands). There were no TDRs granted during the three months ended March 31, 2019. At March 31, 2020 and December 31, 2019, the Bank had nominal unadvanced commitments to borrowers whose loans have been restructured in TDRs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Number of Balance at Balance at ​ ​ ​ Loans ​ Extension ​ End of Period ​ Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ ​ — ​ $ — ​ $ — ​ Owner occupied ​ ​ — ​ — ​ — ​ Commercial and industrial ​ ​ 1 ​ 1,089 ​ 1,166 ​ Construction and land development ​ ​ — ​ — ​ — ​ 1-4 family residential ​ ​ — ​ — ​ — ​ Consumer ​ ​ — ​ — ​ — ​ Broker-dealer ​ ​ — ​ — ​ — ​ Covered ​ ​ — ​ — ​ — ​ ​ ​ ​ 1 $ 1,089 $ 1,166 ​ There were no TDRs granted during the twelve months preceding March 31, 2020 or 2019 for which a payment was at least 30 days past due. ​ 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 ​ Total ​ Past Due March 31, 2020 ​ 30-59 Days ​ 60-89 Days ​ 90 Days or More ​ Past Due Loans ​ Loans ​ Loans ​ 90 Days or More Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 6,488 ​ $ 16,772 ​ $ 199 ​ $ 23,459 ​ $ 1,721,265 ​ $ 1,744,724 ​ $ — ​ Owner occupied ​ 12,152 ​ 2,685 ​ ​ 3,400 ​ 18,237 ​ 1,299,081 ​ ​ 1,317,318 ​ ​ — ​ Commercial and industrial ​ ​ 6,740 ​ 1,125 ​ ​ 2,768 ​ 10,633 ​ 2,091,335 ​ ​ 2,101,968 ​ ​ 47 ​ Construction and land development ​ 3,955 ​ 3 ​ ​ 98 ​ 4,056 ​ 951,117 ​ ​ 955,173 ​ ​ 97 ​ 1-4 family residential ​ 16,832 ​ 2,600 ​ ​ 5,896 ​ 25,328 ​ 651,302 ​ ​ 676,630 ​ ​ — ​ Consumer ​ 167 ​ 158 ​ ​ 284 ​ 609 ​ 42,578 ​ ​ 43,187 ​ ​ — ​ Broker-dealer ​ — ​ — ​ ​ — ​ — ​ 506,250 ​ ​ 506,250 ​ ​ — ​ ​ ​ $ 46,334 ​ $ 23,343 ​ $ 12,645 ​ $ 82,322 ​ $ 7,262,928 ​ $ 7,345,250 ​ $ 144 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accruing Loans ​ ​ Loans Past Due ​ Loans Past Due ​ Loans Past Due ​ Total ​ Current ​ Total ​ Past Due December 31, 2019 ​ 30-59 Days ​ 60-89 Days ​ 90 Days or More ​ Past Due Loans ​ Loans ​ Loans ​ 90 Days or More Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 4,062 ​ $ — ​ $ 2,790 ​ $ 6,852 ​ $ 1,702,500 ​ $ 1,709,352 ​ $ — ​ Owner occupied ​ 1,813 ​ ​ 880 ​ ​ 3,265 ​ 5,958 ​ 1,285,213 ​ ​ 1,291,171 ​ ​ — ​ Commercial and industrial ​ ​ 5,967 ​ ​ 1,735 ​ ​ 3,395 ​ 11,097 ​ 2,014,623 ​ ​ 2,025,720 ​ ​ 3 ​ Construction and land development ​ 7,580 ​ ​ 1,827 ​ ​ — ​ 9,407 ​ 931,157 ​ ​ 940,564 ​ ​ — ​ 1-4 family residential ​ 12,058 ​ ​ 3,442 ​ ​ 6,520 ​ 22,020 ​ 769,000 ​ ​ 791,020 ​ ​ — ​ Consumer ​ 455 ​ ​ 34 ​ ​ — ​ 489 ​ 46,557 ​ ​ 47,046 ​ ​ — ​ Broker-dealer ​ — ​ ​ — ​ ​ — ​ — ​ 576,527 ​ ​ 576,527 ​ ​ — ​ ​ ​ $ 31,935 ​ $ 7,918 ​ $ 15,970 ​ $ 55,823 ​ $ 7,325,577 ​ $ 7,381,400 ​ $ 3 ​ ​ In addition to the loans shown in the tables above, PrimeLending had $101.2 million and $102.7 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $102.4 million and $104.0 million, respectively) that were 90 days past due and accruing interest at March 31, 2020 and December 31, 2019, 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 and (iv) general economic conditions in state and local markets. ​ A description of the risk rating internal grades for commercial loans is presented in the following table. ​ ​ ​ ​ Risk Rating Internal Grade Risk Rating Description Pass low risk 1 - 3 Represents loans to very high credit quality commercial borrowers of investment or near investment grade. These borrowers have significant capital strength, moderate leverage, stable earnings and growth, and readily available financing alternatives. Smaller entities, regardless of strength, would generally not fit in these grades. Commercial borrowers entirely cash secured are also included in this category. Pass normal risk 4 - 7 Represents loans to commercial borrowers of solid credit quality with moderate risk. Borrowers in these grades are differentiated from higher grades on the basis of size (capital and/or revenue), leverage, asset quality and the stability of the industry or market area. Pass high risk 8 - 10 Represents "pass grade" loans to commercial borrowers of higher, but acceptable credit quality and risk. Such borrowers are differentiated from Pass Normal Risk in terms of size, secondary sources of repayment or they are of lesser stature in other key credit metrics in that they may be over-leveraged, under capitalized, inconsistent in performance or in an industry or an economic area that is known to have a higher level of risk, volatility, or susceptibility to weaknesses in the economy. Watch 11 Represents loans on management's "watch list" and is intended to be utilized on a temporary basis for pass grade commercial borrowers where a significant risk-modifying action is anticipated in the near term. Special mention 12 Represents loans with potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in a deterioration of the repayment prospects for the loans and weaken the Company's credit position at some future date. Substandard accrual 13 Represents loans, in accordance with regulatory guidelines, for which the accrual of interest has not been stopped, but are inadequately protected by the current sound worth and paying capacity of the obligor or the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Substandard non-accrual 14 Represents loans, in accordance with regulatory guidelines, for which the accrual of interest has been stopped and includes loans where interest is more than 90 days past due and not fully secured and loans where a specific valuation allowance may be necessary. Doubtful 15 Represents loans, in accordance with regulatory guidelines, that are placed on non-accrual status and may be dependent upon collateral having a value that is difficult to determine or upon some near-term event which lacks certainty. Loss 16 Represents loans, in accordance with regulatory guidelines, that are to be charged-off or charged-down when payment is acknowledged to be uncertain or when the timing or value of payments cannot be determined. Rating is not intended to imply that the loan or some portion of it will never be paid, nor does it in any way imply that there has been a forgiveness of debt. ​ For 1-4 family residential and consumer loans, the Company utilizes separate credit models designed for these types of loans to estimate the PD and LGD grades for the allowance for credit losses calculation. The primary driver of the PD score is the borrower's FICO score at origination. A portion of the Company’s 1-4 family residential loans were acquired as part of a FDIC-assisted transaction in 2013 and the FICO information at origination was incomplete. The credit scores were refreshed in 2016 and these new scores were used as a proxy for the FICO score at origination. New originations and loan purchases are scored using the FICO score at origination. FICO score bands are assigned following prevalent industry standards and are used as the credit quality indicator for these types of loans. Substandard non-accrual loans are treated as a separate category in the credit scoring grid as the probability of default is 100% and the FICO score is no longer a relevant predictor. ​ The following table presents loans held for investment grouped by asset class and credit quality indicator, segregated by year of origination or renewal (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ ​ ​ ​ ​ ​ March 31, 2020 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ ​ 2015 and Prior ​ Revolving ​ Total Commercial real estate: non-owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 2,702 ​ $ 42,015 ​ $ 9,354 ​ $ 14,536 ​ $ 15,164 ​ $ 19,926 ​ $ 402 ​ $ 104,099 Internal Grade 4-7 (Pass normal risk) ​ ​ 45,963 ​ ​ 186,755 ​ ​ 150,078 ​ ​ 149,826 ​ ​ 148,241 ​ ​ 126,033 ​ ​ 25,449 ​ ​ 832,345 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 48,289 ​ ​ 117,730 ​ ​ 169,739 ​ ​ 126,886 ​ ​ 174,480 ​ ​ 82,043 ​ ​ 1,145 ​ ​ 720,312 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ — ​ ​ 1,189 ​ ​ 1,784 ​ ​ 4,317 ​ ​ 8,387 ​ ​ 54,123 ​ ​ — ​ ​ 69,800 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 15,330 ​ ​ — ​ ​ 882 ​ ​ — ​ ​ 1,956 ​ ​ — ​ ​ 18,168 Commercial real estate: owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 19,261 ​ $ 35,707 ​ $ 11,362 ​ $ 27,494 ​ $ 23,433 ​ $ 48,577 ​ $ 2 ​ $ 165,836 Internal Grade 4-7 (Pass normal risk) ​ ​ 73,334 ​ ​ 153,997 ​ ​ 219,995 ​ ​ 91,386 ​ ​ 75,445 ​ ​ 124,679 ​ ​ 31,734 ​ ​ 770,570 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 6,627 ​ ​ 76,220 ​ ​ 64,306 ​ ​ 92,640 ​ ​ 33,586 ​ ​ 43,919 ​ ​ 15,103 ​ ​ 332,401 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 48 ​ ​ — ​ ​ 48 Internal Grade 13 (Substandard accrual) ​ ​ 3,466 ​ ​ 2,436 ​ ​ 3,980 ​ ​ 11,661 ​ ​ 9,105 ​ ​ 12,631 ​ ​ — ​ ​ 43,279 Internal Grade 14 (Substandard non-accrual) ​ ​ 555 ​ ​ — ​ ​ 81 ​ ​ 2,528 ​ ​ 1,041 ​ ​ 979 ​ ​ — ​ ​ 5,184 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 20,004 ​ $ 14,683 ​ $ 7,762 ​ $ 6,239 ​ $ 4,817 ​ $ 881 ​ $ 92,106 ​ $ 146,492 Internal Grade 4-7 (Pass normal risk) ​ ​ 36,169 ​ ​ 119,001 ​ ​ 77,750 ​ ​ 58,562 ​ ​ 25,450 ​ ​ 19,585 ​ ​ 374,251 ​ ​ 710,768 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 40,361 ​ ​ 98,826 ​ ​ 64,810 ​ ​ 26,805 ​ ​ 41,982 ​ ​ 3,828 ​ ​ 200,425 ​ ​ 477,037 Internal Grade 12 (Special mention) ​ ​ 844 ​ ​ 1,372 ​ ​ 2,028 ​ ​ 492 ​ ​ 5,246 ​ ​ — ​ ​ 13,306 ​ ​ 23,288 Internal Grade 13 (Substandard accrual) ​ ​ 28 ​ ​ 3,411 ​ ​ 8,785 ​ ​ 2,642 ​ ​ 6,596 ​ ​ 4,396 ​ ​ 16,475 ​ ​ 42,333 Internal Grade 14 (Substandard non-accrual) ​ ​ 30,145 ​ ​ 2,445 ​ ​ 1,506 ​ ​ 8,225 ​ ​ 231 ​ ​ 379 ​ ​ 4,190 ​ ​ 47,121 Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 4,717 ​ $ 21,250 ​ $ 23,557 ​ $ 282 ​ $ 1,169 ​ $ 337 ​ $ 1,956 ​ $ 53,268 Internal Grade 4-7 (Pass normal risk) ​ ​ 80,147 ​ ​ 237,466 ​ ​ 106,525 ​ ​ 38,310 ​ ​ 7,760 ​ ​ 5,038 ​ ​ 41,525 ​ ​ 516,771 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 24,257 ​ ​ 164,164 ​ ​ 133,025 ​ ​ 22,711 ​ ​ 4,431 ​ ​ 2,119 ​ ​ 6,899 ​ ​ 357,606 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ — ​ ​ 1,135 ​ ​ — ​ ​ — ​ ​ — ​ ​ 7 ​ ​ — ​ ​ 1,142 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 458 ​ ​ — ​ ​ — ​ ​ 768 ​ ​ 176 ​ ​ — ​ ​ 1,402 Construction and land development - individuals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — FICO between 620 and 720 ​ ​ — ​ ​ 4,394 ​ ​ 1,474 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,868 FICO greater than 720 ​ ​ 3,171 ​ ​ 10,617 ​ ​ 5,184 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,972 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other (1) ​ ​ 144 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 144 1-4 family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ 738 ​ $ 3,724 ​ $ 231 ​ $ 1,110 ​ $ 40,354 ​ $ 545 ​ $ 46,702 FICO between 620 and 720 ​ ​ 1,252 ​ ​ 11,793 ​ ​ 15,878 ​ ​ 10,850 ​ ​ 13,739 ​ ​ 48,114 ​ ​ 1,585 ​ ​ 103,211 FICO greater than 720 ​ ​ 16,389 ​ ​ 84,807 ​ ​ 105,533 ​ ​ 54,505 ​ ​ 50,839 ​ ​ 106,744 ​ ​ 4,521 ​ ​ 423,338 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 101 ​ ​ 439 ​ ​ 10,059 ​ ​ — ​ ​ 10,599 Other (1) ​ ​ 8,660 ​ ​ 58,480 ​ ​ 9,557 ​ ​ 2,238 ​ ​ 1,466 ​ ​ 10,152 ​ ​ 2,227 ​ ​ 92,780 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 318 ​ $ 1,830 ​ $ 312 ​ $ 193 ​ $ 59 ​ $ 100 ​ $ 373 ​ $ 3,185 FICO between 620 and 720 ​ ​ 2,145 ​ ​ 5,082 ​ ​ 971 ​ ​ 919 ​ ​ 183 ​ ​ 152 ​ ​ 2,686 ​ ​ 12,138 FICO greater than 720 ​ ​ 2,722 ​ ​ 8,327 ​ ​ 3,694 ​ ​ 542 ​ ​ 500 ​ ​ 131 ​ ​ 5,062 ​ ​ 20,978 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 35 ​ ​ — ​ ​ 25 ​ ​ 250 ​ ​ 310 Other (1) ​ ​ 2,346 ​ ​ 3,178 ​ ​ 673 ​ ​ 66 ​ ​ 56 ​ ​ — ​ ​ 257 ​ ​ 6,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans with credit quality measures ​ $ 474,016 ​ $ 1,484,836 ​ $ 1,203,427 ​ $ 756,104 ​ $ 655,723 ​ $ 767,491 ​ $ 842,474 ​ $ 6,184,071 Commercial and industrial (collateral maintenance) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 654,929 Broker-dealer (collateral maintenance) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 506,250 Total loans held for investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,345,250 (1) Loans classified in this category were assigned a FICO score based on various factors specific to the borrower for credit modeling purposes. Allowance for Credit Losses for Loans Held for Investment ​ The allowance for credit losses for loans held for investment represents management’s best estimate of all expected credit losses over the expected contractual life of our existing portfolio. Management revised its methodology for determining the allowance for credit losses upon the implementation of CECL. Management considers the level of allowance for credit losses to be a reasonable and supportable estimate of expected credit losses inherent within the loans held for investment portfolio as of March 31, 2020. While the Company believes it has an appropriate allowance for the existing loan portfolio at March 31, 2020, additional provision for losses on existing loans may be necessary in the future. Future changes in the allowance for credit losses are expected to be volatile given dependence upon, among other things, the portfolio composition and quality, as well as the impact of significant drivers, including prepayment assumptions and macroeconomic conditions and forecasts. In addition to the allowance for credit losses, the Company maintains a separate allowance for credit losses related to off-balance sheet credit exposures, including unfunded loan commitments, and this amount is included in other liabilities within the consolidated balance sheets (see Note 14 to the consolidated financial statements). For further information on the policies that govern the estimation of the allowances for credit losses levels, see Note 1 to the consolidated financial statements. ​ The increase in the allowance for credit losses for loans held for investment during the first quarter of 2020 was primarily attributable to changes within the Bank. As previously discussed, the Company adopted the new CECL standard and recorded transition adjustment entries that resulted in an allowance for credit losses of $73.7 million as of January 1, 2020, an increase of $12.6 million. This increase included an increase in credit losses of $18.9 million from the expansion of the loss horizon to life of loan, partially offset by the elimination of the non-credit component within the historical allowance related to previously categorized PCI loans of $6.3 million. ​ During the three months ended March 31, 2020, reserves on individually evaluated loans increased $17.6 million, while reserves on expected losses of collectively evaluated loans increased primarily due to the increase in the expected lifetime credit losses under CECL attributable to the deteriorating economic outlook associated with the impact of the market disruption caused by the novel coronavirus (“COVID-19”) pandemic. While not material, the change in the allowance for credit losses during the three months ended March 31, 2020 was also attributable to other factors including, but not limited to, loan growth, loan mix and changes in risk rating grades. ​ Changes in the allowance for credit losses for loans held for investment, distributed by portfolio segment, are shown below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Three Months Ended March 31, 2020 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 31,595 ​ $ 8,073 ​ $ 14,475 ​ $ (214) ​ $ 10 ​ $ 53,939 ​ Commercial and industrial ​ 17,964 ​ 3,193 ​ 18,446 ​ (1,440) ​ 387 ​ 38,550 ​ Construction and land development ​ 4,878 ​ 577 ​ 907 ​ (2) ​ — ​ 6,360 ​ 1-4 family residential ​ 6,386 ​ (29) ​ 201 ​ (203) ​ 10 ​ 6,365 ​ Consumer ​ ​ 265 ​ ​ 748 ​ ​ 246 ​ ​ (176) ​ ​ 120 ​ ​ 1,203 ​ Broker-dealer ​ ​ 48 ​ ​ — ​ ​ 274 ​ ​ — ​ ​ — ​ ​ 322 ​ Total ​ $ 61,136 ​ $ 12,562 ​ $ 34,549 ​ $ (2,035) ​ $ 527 ​ $ 106,739 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Three Months Ended March 31, 2019 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 27,100 ​ $ — ​ $ (255) ​ $ — ​ $ — ​ $ 26,845 ​ Commercial and industrial ​ 21,980 ​ — ​ 458 ​ (1,818) ​ 648 ​ 21,268 ​ Construction and land development ​ 6,061 ​ — ​ (153) ​ — ​ — ​ 5,908 ​ 1-4 family residential ​ 3,956 ​ — ​ 389 ​ (28) ​ 14 ​ 4,331 ​ Consumer ​ ​ 267 ​ ​ — ​ ​ 586 ​ ​ (454) ​ ​ 10 ​ ​ 409 ​ Broker-dealer ​ ​ 122 ​ ​ — ​ ​ (74) ​ ​ — ​ ​ — ​ ​ 48 ​ Total ​ $ 59,486 ​ $ — ​ $ 951 ​ $ (2,300) ​ $ 672 ​ $ 58,809 ​ ​

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
	Mar. 31, 2020
Mortgage Servicing Rights
Mortgage Servicing Rights	7. 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 ​ 2019 Balance, beginning of period $ 55,504 ​ $ 66,102 ​ Additions 4,475 ​ 1,861 ​ Sales (18,650) ​ — ​ Changes in fair value: ​ ​ ​ ​ ​ ​ Due to changes in model inputs or assumptions (1) (9,594) ​ (5,033) ​ Due to customer payoffs (1,436) ​ (881) ​ Balance, end of period $ 30,299 ​ $ 62,049 ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 ​ 2019 ​ Mortgage loans serviced for others $ 3,500,731 ​ $ 4,948,441 ​ MSR asset as a percentage of serviced mortgage loans 0.87 % 1.12 % (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. ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Weighted average constant prepayment rate 16.98 % ​ 13.16 % Weighted average discount rate 11.01 % ​ 11.14 % Weighted average life (in years) 4.8 ​ ​ 6.0 ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Constant prepayment rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ $ (2,152) ​ $ (3,072) ​ Impact of 20% adverse change ​ (4,122) ​ (5,943) ​ Discount rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ (1,014) ​ (2,094) ​ Impact of 20% adverse change ​ (1,959) ​ (4,028) ​ ​ 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 $5.9 million and $6.3 million during the three months ended March 31, 2020 and 2019, respectively, were included in net gains from sale of loans and other mortgage production income within the consolidated statements of operations.

Deposits

Deposits	3 Months Ended
	Mar. 31, 2020
Deposits
Deposits	8. Deposits ​ Deposits are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Noninterest-bearing demand ​ $ 2,865,192 ​ $ 2,769,556 ​ Interest-bearing: ​ ​ ​ ​ ​ ​ ​ Demand accounts ​ 1,893,125 ​ 1,881,614 ​ Brokered - demand ​ 475,080 ​ — ​ Money market ​ 2,823,663 ​ 2,641,116 ​ Brokered - money market ​ 30,006 ​ 5,000 ​ Savings ​ 198,319 ​ 199,076 ​ Time ​ 1,386,214 ​ 1,505,375 ​ Brokered - time ​ 275,890 ​ 30,477 ​ ​ ​ $ 9,947,489 ​ $ 9,032,214 ​ ​

Short-term Borrowings

Short-term Borrowings	3 Months Ended
	Mar. 31, 2020
Short-term Borrowings
Short-term Borrowings	9. Short-term Borrowings ​ Short-term borrowings are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Federal funds purchased ​ $ 199,095 ​ $ 81,625 ​ Securities sold under agreements to repurchase ​ 698,433 ​ 612,125 ​ Federal Home Loan Bank ​ 150,000 ​ 600,000 ​ Short-term bank loans ​ ​ 250,500 ​ ​ 111,000 ​ Commercial paper ​ 31,920 ​ 19,260 ​ ​ ​ $ 1,329,948 ​ $ 1,424,010 ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ Average balance during the period ​ $ 732,954 ​ $ 654,117 ​ ​ ​ ​ Average interest rate during the period ​ 1.78 % ​ 2.63 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ ​ Average interest rate at end of period ​ 1.31 % ​ 1.97 % ​ ​ ​ Securities underlying the agreements at end of period: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying value ​ $ 705,544 ​ $ 612,515 ​ ​ ​ ​ Estimated fair value ​ $ 753,129 ​ $ 661,023 ​ ​ ​ ​ ​ Federal Home Loan Bank (“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. Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Average balance during the period ​ $ 153,736 ​ $ 4,167 ​ ​ Average interest rate during the period ​ ​ 1.63 % ​ 2.65 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ ​ ​ ​ 2020 ​ ​ 2019 ​ ​ Average interest rate at end of period ​ ​ 0.50 % ​ 1.56 % ​ ​ 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 March 31, 2020 and December 31, 2019 was 1.05% and 2.52%, respectively. ​ During 2019, Hilltop Securities initiated two commercial paper programs, in the ordinary course of its business, of which the net proceeds (after deducting related issuance expenses) from the sale will be used for general corporate purposes, including working capital and the funding of 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 issued 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. As of March 31, 2020, the weighted average maturity of the CP Notes was 35 days at a rate of 1.50%. At March 31, 2020, the aggregate amount outstanding under these secured arrangements was $31.9 million, which was collateralized by securities held for firm accounts valued at $36.3 million.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2020
Notes Payable
Notes Payable	10. Notes Payable ​ Notes payable consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Senior Notes due April 2025, net of discount of $1,191 and $1,232, respectively ​ $ 148,809 ​ $ 148,768 FHLB notes, including premium of $131 and $146, respectively, with maturities ranging from September 2020 to June 2030 ​ 28,514 ​ 28,848 Ventures Management lines of credit due May 2020 ​ ​ 66,719 ​ ​ 78,653 ​ ​ $ 244,042 ​ $ 256,269 ​

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases
Leases	11. 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 ten years, and leases ​ Supplemental balance sheet information related to finance leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ 2020 ​ ​ 2019 Finance leases: ​ ​ ​ ​ ​ ​ Premises and equipment ​ $ 7,780 ​ $ 7,780 Accumulated depreciation ​ ​ (4,326) ​ ​ (4,178) Premises and equipment, net ​ $ 3,454 ​ $ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Operating lease cost ​ $ 10,630 ​ $ 10,531 ​ ​ Less operating lease and sublease income ​ ​ (618) ​ ​ (388) ​ ​ Net operating lease cost ​ $ 10,012 ​ $ 10,143 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ $ 147 ​ $ 147 ​ ​ Interest on lease liabilities ​ ​ 144 ​ ​ 152 ​ ​ Total finance lease cost ​ $ 291 ​ $ 299 ​ ​ ​ Supplemental cash flow information related to leases is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 9,951 ​ $ 8,220 ​ Operating cash flows from finance leases ​ ​ 144 ​ ​ 152 ​ Financing cash flows from finance leases ​ ​ 155 ​ ​ 144 ​ Right-of-use assets obtained in exchange for new lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 4,049 ​ $ 3,591 ​ Finance leases ​ ​ — ​ ​ — ​ ​ Information regarding the lease terms and discount rates of the Company’s leases is as follows. ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ Weighted Average ​ ​ ​ Remaining Lease ​ Weighted Average Lease Classification Term (Years) ​ Discount Rate Operating 5.9 ​ 5.19 % Finance 6.3 ​ 4.79 % ​ Future minimum lease payments under the Leasing Standard as of March 31, 2020, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). The table below includes future minimum lease payments of $3.5 million at March 31, 2020 for operating lease liabilities associated with discontinued operations. ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases 2020 $ 26,439 ​ $ 899 2021 ​ 30,275 ​ ​ 1,212 2022 ​ 24,261 ​ ​ 1,241 2023 ​ 19,415 ​ ​ 1,280 2024 ​ 12,740 ​ ​ 1,163 Thereafter ​ 35,810 ​ ​ 2,297 Total minimum lease payments $ 148,940 ​ $ 8,092 Less amount representing interest ​ (22,090) ​ ​ (2,751) Lease liabilities $ 126,850 ​ $ 5,341 ​ As of March 31, 2020, the Company had additional operating leases that have not yet commenced with aggregate future minimum lease payments of approximately $1.2 million. These operating leases are expected to commence between April 2020 and May 2020 with lease terms ranging from three ​ 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 $4.2 million at March 31, 2020.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Taxes
Income Taxes	12. Income Taxes ​ The Company applies an estimated annual effective rate to interim period pre-tax income to calculate the income tax provision for the quarter in accordance with the principal method prescribed by the accounting guidance established for computing income taxes in interim periods. The Company’s effective tax rates from continuing operations were 23.1% and 22.8% for the three months ended March 31, 2020 and 2019, respectively, and approximated the applicable statutory rates for such periods. ​

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	13. Commitments and Contingencies ​ 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. ​ While the final outcome of litigation and claims exposures is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation will not 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 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 March 31, 2020 and December 31, 2019, the mortgage origination segment’s indemnification liability reserve totaled $12.1 million and $11.8 million, respectively. The provision for indemnification losses was $0.7 million and $0.5 million during the three months ended March 31, 2020 and 2019, 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 ​ ​ Three Months Ended March 31, ​ 2020 2019 Balance, beginning of period ​ $ 32,144 ​ $ 33,784 ​ Claims made ​ 6,071 ​ 3,182 ​ Claims resolved with no payment ​ (984) ​ (5,687) ​ Repurchases ​ (2,330) ​ (1,167) ​ Indemnification payments ​ (122) ​ — ​ Balance, end of period ​ $ 34,779 ​ $ 30,112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification Liability Reserve Activity ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Balance, beginning of period ​ $ 11,776 ​ $ 10,701 ​ Additions for new sales ​ 725 ​ 489 ​ Repurchases ​ (271) ​ (82) ​ Early payment defaults ​ (39) ​ (142) ​ Indemnification payments ​ (43) ​ (3) ​ Change in reserves for loans sold in prior years ​ — ​ (242) ​ Balance, end of period ​ $ 12,148 ​ $ 10,721 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 ​ 2019 Reserve for Indemnification Liability: ​ ​ ​ ​ ​ ​ ​ Specific claims ​ $ 1,186 ​ $ 1,071 ​ Incurred but not reported claims ​ 10,962 ​ 10,705 ​ Total ​ $ 12,148 ​ $ 11,776 ​ ​ 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. ​

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	3 Months Ended
	Mar. 31, 2020
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	14. Financial Instruments with Off-Balance Sheet Risk ​ Banking ​ 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 $1.9 billion at March 31, 2020 and outstanding financial and performance standby letters of credit of $89.5 million at March 31, 2020. ​ In order to estimate the allowance for credit loss on unfunded loan commitments, the Bank uses a process similar to that used in estimating the allowance for credit losses on the funded portion. The allowance is based on the estimated exposure at default, multiplied by the lifetime PD grade and LGD grade for that particular loan segment. The Bank estimates expected losses by calculating a commitment usage factor based on industry usage factors. The commitment usage factor is applied over the relevant contractual period. Loss factors from the underlying loans to which commitments are related are applied to the results of the usage calculation to estimate any liability for credit losses related for each loan type. The expected losses on unfunded commitments align with statistically calculated parameters used to calculate the allowance for credit losses on the funded portion. There is no reserve calculated for letters of credit as they are issued primarily as credit enhancements and the likelihood of funding is low. ​ Changes in the allowance for credit losses for loans with off-balance sheet credit exposures are shown below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Balance, beginning of period ​ $ 2,075 ​ $ 2,366 Transition adjustment CECL accounting standard ​ ​ 3,837 ​ ​ — Expense (reversal of expense) ​ ​ 1,297 ​ ​ (111) Balance, end of period ​ $ 7,209 ​ $ 2,255 ​ The Bank uses the same credit policies in making commitments and standby letters of credit as it does for on-balance sheet instruments. 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. ​ Broker-Dealer ​ 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	3 Months Ended
	Mar. 31, 2020
Stock-Based Compensation
Stock-Based Compensation	15. 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, restricted stock units (“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 March 31, 2020, 17,229 shares of common stock remained available for issuance pursuant to awards granted under the 2012 Plan, excluding shares that may be delivered pursuant to outstanding awards. Compensation expense related to the 2012 Plan was $3.8 million and $2.5 million during the three months ended March 31, 2020 and 2019, respectively. ​ During the three months ended March 31, 2020 and 2019, Hilltop granted 10,291 and 7,958 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 Units ​ The following table summarizes information about nonvested RSU activity for the three months ended March 31, 2020 (shares in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ Outstanding Fair Value Balance, December 31, 2019 ​ 1,437 ​ $ 22.64 ​ Granted ​ 535 ​ $ 21.91 ​ Vested/Released ​ (179) ​ $ 28.43 ​ Forfeited ​ (6) ​ $ 22.94 Balance, March 31, 2020 ​ 1,787 ​ $ 21.84 ​ Vested/Released RSUs include an aggregate of 21,057 shares withheld to satisfy employee statutory tax obligations during the three months ended March 31, 2020. Pursuant to certain RSU award agreements, an aggregate of 5,482 vested RSUs at March 31, 2020 require deferral of the settlement in shares and statutory tax obligations to a future date. ​ During the three months ended March 31, 2020, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 520,510 RSUs pursuant to the 2012 Plan. Of the RSUs granted during the three months ended March 31, 2020, 398,278 that were outstanding at March 31, 2020, are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date. Of the RSUs granted during the three months ended March 31, 2020, 122,232 that were outstanding at March 31, 2020 ​ At March 31, 2020, in the aggregate, 1,497,394 of the outstanding RSUs are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date, and 289,493 outstanding RSUs cliff vest based upon the achievement of certain performance goals over a three-year period. At March 31, 20 20

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2020
Regulatory Matters
Regulatory Matters	16. Regulatory Matters ​ Banking and Hilltop ​ PlainsCapital, which includes the Bank and PrimeLending, and Hilltop are subject to various regulatory capital requirements administered by 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 performs reviews of the classification and calculation of risk-weighted assets to ensure accuracy and compliance with the Basel III regulatory capital requirements as implemented by the Board of Governors of the Federal Reserve System. 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 requires banking organizations to maintain a capital conservation buffer above minimum risk-based capital requirements measured relative to risk-weighted assets. ​ 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 ratio in effect at the end of the period (dollars in thousands). Based on 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. Actual capital amounts and ratios as of March 31, 2020 reflect PlainsCapital’s and Hilltop’s decision to elect the transition option as recently issued by the federal banking regulatory agencies in March 2020 that permits banking institutions to mitigate the estimated cumulative regulatory capital effects from CECL over a five-year transitionary period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Including ​ To Be Well ​ ​ Actual ​ Conservation Buffer ​ Capitalized ​ Amount Ratio Ratio Ratio March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,263,998 12.06 % 4.0 % 5.0 % Hilltop ​ 1,863,770 13.03 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,263,998 13.33 % 7.0 % 6.5 % Hilltop ​ ​ 1,815,640 15.96 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,263,998 13.33 % 8.5 % 8.0 % Hilltop ​ 1,863,770 16.38 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,352,722 14.26 % 10.5 % 10.0 % Hilltop ​ 1,934,982 17.00 % 10.5 % N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Including ​ To Be Well ​ ​ Actual ​ Conservation Buffer ​ Capitalized ​ Amount Ratio Ratio Ratio December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,236,289 11.61 % 4.0 % 5.0 % Hilltop ​ 1,822,970 12.71 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,236,289 13.45 % 7.0 % 6.5 % Hilltop ​ ​ 1,776,381 16.70 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,236,289 13.45 % 8.5 % 8.0 % Hilltop ​ 1,822,970 17.13 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,299,453 14.13 % 10.5 % 10.0 % Hilltop ​ 1,867,771 17.55 % 10.5 % N/A ​ ​ Broker-Dealer ​ Pursuant to the net capital requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Hilltop Securities has elected to determine its net capital requirements 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 $250,000 or 6-2/3% of aggregate indebtedness. ​ At March 31, 2020, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HTS ​ ​ ​ Hilltop ​ Independent ​ ​ Securities Network Net capital ​ $ 245,293 ​ $ 3,179 ​ Less: required net capital ​ ​ 9,502 ​ ​ 250 ​ Excess net capital ​ $ 235,791 ​ $ 2,929 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net capital as a percentage of aggregate debit items ​ ​ 51.6 % ​ ​ ​ Net capital in excess of 5% aggregate debit items ​ $ 221,539 ​ ​ ​ ​ ​ 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 under the provisions of the Exchange Act are not available for general corporate purposes. At March 31, 2020 and December 31, 2019, the Hilltop Broker-Dealers held cash of $178.8 million and $157.4 million, respectively, segregated in special reserve bank accounts for the benefit of customers. The Hilltop Broker-Dealers were not required to segregate cash and securities in special reserve accounts for the benefit of proprietary accounts of introducing broker-dealers at March 31, 2020 or December 31, 2019. ​ Mortgage Origination ​ As a mortgage originator, PrimeLending and its subsidiaries are subject to minimum net worth and liquidity requirements established by HUD and GNMA, as applicable. On an annual basis, PrimeLending and its subsidiaries submit audited financial statements to HUD and GNMA, as applicable, documenting their respective compliance with minimum net worth and liquidity requirements. As of March 31, 2020, PrimeLending and its subsidiaries’ net worth and liquidity exceeded the amounts required by both HUD and GNMA, as applicable.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity
Stockholders' Equity	17. Stockholders’ Equity ​ Dividends ​ During the three months ended March 31, 2020 and 2019, the Company declared and paid cash dividends of $0.09 and $0.08 per common share, or an aggregate of $8.2 million and $7.5 million, respectively. ​ On April 30, 2020, Hilltop’s board of directors declared a quarterly cash dividend of $0.09 per common share, payable on May 29, 2020, to all common stockholders of record as of the close of business on May 15, 2020. ​ Stock Repurchases ​ 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. ​ During the three months ended March 31, 2020, the Company paid $15.0 million to repurchase an aggregate of 700,901 shares of common stock at an average price of $21.32 per share. The Company’s stock repurchase program, prior year repurchases and related accounting policy are discussed in detail in Note 1 and Note 23 to the consolidated financial statements included in the Company’s 2019 Form 10-K. ​ In light of the uncertain outlook for 2020 due to the COVID-19 pandemic, and Hilltop’s commitment to maintaining strong capital and liquidity to meet the needs of its customers and communities during this exceptional period of economic uncertainty, Hilltop’s board of directors has suspended its stock repurchase program. Hilltop’s board of directors has the ability to reinstate the stock repurchase program at its discretion as circumstances warrant. ​

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Financial Instruments
Derivative Financial Instruments	18. 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. 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 4 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 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 4 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. ​ Changes in the fair value of derivatives are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Increase (decrease) in fair value of derivatives during period: ​ ​ ​ ​ ​ ​ PrimeLending ​ $ 19,876 ​ $ 18,187 Hilltop Broker-Dealers ​ ​ (8,141) ​ ​ (1,807) Bank ​ ​ (135) ​ ​ (61) ​ Derivative positions are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ Notional Estimated Notional Estimated ​ ​ Amount ​ Fair Value ​ Amount ​ Fair Value Derivative instruments (not designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLCs ​ $ 3,063,446 ​ $ 93,412 ​ $ 914,526 ​ $ 18,222 Customer-based written options ​ 31,200 ​ — ​ 31,200 ​ — Customer-based purchased options ​ 31,200 ​ — ​ 31,200 ​ — Commitments to purchase MBSs ​ 5,431,558 ​ 65,666 ​ 3,346,946 ​ 3,321 Commitments to sell MBSs ​ ​ 9,698,119 ​ (133,762) ​ 5,988,198 ​ (5,904) Interest rate swaps ​ ​ 41,455 ​ (192) ​ 15,012 ​ (178) U.S. Treasury bond futures and options (1) ​ ​ 66,100 ​ — ​ 283,500 ​ — Eurodollar futures (1) ​ ​ 18,000 ​ — ​ 934,000 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments (designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as cash flow hedges ​ $ 105,000 ​ $ (3,605) ​ $ 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 had cash collateral advances totaling $100.7 million and $4.5 million to offset net liability derivative positions on its commitments to sell MBSs at March 31, 2020 and December 31, 2019, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers advanced cash collateral totaling $1.0 million and $3.7 million on U.S. Treasury bond futures and options and Eurodollar futures at March 31, 2020 and December 31, 2019, respectively. These amounts are included in other assets within the consolidated balance sheets.

Balance Sheet Offsetting

Balance Sheet Offsetting	3 Months Ended
	Mar. 31, 2020
Balance Sheet Offsetting
Balance Sheet Offsetting	19. 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 March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities borrowed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,275,774 ​ $ — ​ $ 1,275,774 ​ $ (1,181,948) ​ $ — ​ $ 93,826 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 9 ​ ​ — ​ ​ 9 ​ ​ (9) ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reverse repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 23,356 ​ ​ — ​ ​ 23,356 ​ ​ (23,050) ​ ​ — ​ ​ 306 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 65,666 ​ — ​ 65,666 ​ (65,666) ​ — ​ — ​ ​ $ 1,364,805 ​ $ — ​ $ 1,364,805 ​ $ (1,270,673) ​ $ — ​ $ 94,132 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities loaned: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,167,559 ​ $ — ​ $ 1,167,559 ​ $ (1,075,906) ​ $ — ​ $ 91,653 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 201 ​ — ​ 201 ​ — ​ — ​ 201 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 690,178 ​ — ​ 690,178 ​ (690,178) ​ — ​ — Customer counterparties ​ 8,255 ​ — ​ 8,255 ​ (8,255) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 136,640 ​ (2,878) ​ 133,762 ​ (74,608) ​ — ​ 59,154 ​ ​ $ 2,002,833 ​ $ (2,878) ​ $ 1,999,955 ​ $ (1,848,947) ​ $ — ​ $ 151,008 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 ​ 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 March 31, 2020 and December 31, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining Contractual Maturities ​ ​ Overnight and ​ ​ ​ ​ ​ Greater Than ​ ​ ​ March 31, 2020 ​ Continuous ​ Up to 30 Days ​ 30-90 Days ​ 90 Days ​ Total Repurchase agreement transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 16,929 ​ $ — ​ $ — ​ $ — ​ $ 16,929 Asset-backed securities ​ ​ 323,444 ​ ​ 358,060 ​ ​ — ​ ​ — ​ ​ 681,504 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities lending transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate securities ​ ​ 113 ​ ​ — ​ ​ — ​ ​ — ​ ​ 113 Equity securities ​ ​ 1,167,446 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,167,446 Total ​ $ 1,507,932 ​ $ 358,060 ​ $ — ​ $ — ​ $ 1,865,992 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above ​ ​ ​ ​ $ 1,865,992 Amount related to agreements not included in offsetting disclosure above ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ — ​

Broker-Dealer and Clearing Orga

Broker-Dealer and Clearing Organization Receivables and Payables	3 Months Ended
	Mar. 31, 2020
Broker-Dealer and Clearing Organization Receivables and Payables
Broker-Dealer and Clearing Organization Receivables and Payables	20. Broker-Dealer and Clearing Organization Receivables and Payables ​ Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Receivables: ​ ​ ​ ​ ​ ​ ​ Securities borrowed ​ $ 1,275,774 ​ $ 1,634,782 ​ Securities failed to deliver ​ 66,342 ​ 18,726 ​ Trades in process of settlement ​ 485,330 ​ 104,922 ​ Other ​ 11,343 ​ 21,850 ​ ​ ​ $ 1,838,789 ​ $ 1,780,280 ​ Payables: ​ ​ ​ ​ ​ ​ ​ Securities loaned ​ $ 1,167,559 ​ $ 1,555,964 ​ Correspondents ​ 23,376 ​ 37,036 ​ Securities failed to receive ​ 65,407 ​ 8,568 ​ Other ​ 2,839 ​ 3,950 ​ ​ ​ $ 1,259,181 ​ $ 1,605,518 ​ ​

Segment and Related Information

Segment and Related Information	3 Months Ended
	Mar. 31, 2020
Segment and Related Information
Segment and Related Information	21. 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. 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. ​ As discussed in Note 3 to the consolidated financial statements, management determined that the pending sale of NLC represents a strategic shift away from one of the historically core business units of the Company. Accordingly, as of March 31, 2020 and for all prior periods, insurance segment results have been presented as discontinued operations and its assets and liabilities have been classified as held for sale in the consolidated financial statements and in the tables below. ​ 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 Three Months Ended March 31, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 93,923 ​ $ 13,173 ​ $ 368 ​ $ — ​ $ (1,656) ​ $ 4,528 ​ $ 110,336 ​ Provision for credit losses ​ 34,275 ​ ​ 274 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 34,549 ​ Noninterest income ​ 8,771 ​ ​ 86,209 ​ ​ 178,968 ​ ​ — ​ ​ 2,309 ​ ​ (4,544) ​ 271,713 ​ Noninterest expense ​ 56,967 ​ 80,939 ​ 139,552 ​ ​ — ​ ​ 4,853 ​ ​ (410) ​ 281,901 ​ Income (loss) before taxes from continuing operations ​ ​ 11,452 ​ ​ 18,169 ​ ​ 39,784 ​ ​ — ​ ​ (4,200) ​ ​ 394 ​ ​ 65,599 ​ Income before taxes from discontinued operations ​ ​ — ​ ​ — ​ ​ — ​ ​ 4,014 ​ ​ — ​ ​ — ​ ​ 4,014 ​ ​ ​ $ 11,452 ​ $ 18,169 ​ $ 39,784 ​ $ 4,014 ​ $ (4,200) ​ $ 394 ​ $ 69,613 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Three Months Ended March 31, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 92,690 ​ $ 12,850 ​ $ (467) ​ $ — ​ $ (1,330) ​ $ 4,546 ​ $ 108,289 ​ Provision for (reversal of) credit losses ​ 1,025 ​ ​ (74) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 951 ​ Noninterest income ​ 10,621 ​ ​ 91,307 ​ ​ 118,033 ​ ​ — ​ ​ 538 ​ ​ (4,536) ​ 215,963 ​ Noninterest expense ​ 60,726 ​ 87,807 ​ 114,677 ​ ​ — ​ ​ 15,562 ​ ​ (25) ​ 278,747 ​ Income (loss) before taxes from continuing operations ​ ​ 41,560 ​ ​ 16,424 ​ ​ 2,889 ​ ​ — ​ ​ (16,354) ​ ​ 35 ​ ​ 44,554 ​ Income before taxes from discontinued operations ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,809 ​ ​ — ​ ​ — ​ ​ 6,809 ​ ​ ​ $ 41,560 ​ $ 16,424 ​ $ 2,889 ​ $ 6,809 ​ $ (16,354) ​ $ 35 ​ $ 51,363 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop ​ ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets held for sale ​ $ — ​ $ — ​ $ — ​ $ 249,758 ​ $ — ​ $ — ​ $ 249,758 ​ Total assets ​ $ 11,616,994 ​ $ 3,406,300 ​ $ 2,607,131 ​ $ 249,758 ​ $ 2,448,412 ​ $ (4,622,345) ​ $ 15,706,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets held for sale ​ $ — ​ $ — ​ $ — ​ $ 248,429 ​ $ — ​ $ — ​ $ 248,429 ​ Total assets ​ $ 11,147,344 ​ $ 3,457,068 ​ $ 2,357,415 ​ $ 248,429 ​ $ 2,393,604 ​ $ (4,431,412) ​ $ 15,172,448 ​ ​

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2020
Earnings per Common Share
Earnings per Common Share	22. Earnings per Common Share ​ 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, if applicable. 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 since there were no instruments which qualified as participating securities during the three months ended March 31, 2020 or 2019. ​ 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 the three months ended March 31, 2020 and 2019, 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. ​ The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 46,485 ​ $ 33,426 ​ Income from discontinued operations ​ ​ 3,151 ​ ​ 5,360 ​ Income attributable to Hilltop ​ $ 49,636 ​ $ 38,786 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,509 ​ 93,669 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 0.51 ​ $ 0.36 ​ Income from discontinued operations ​ ​ 0.04 ​ ​ 0.05 ​ ​ ​ $ 0.55 ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 46,485 ​ $ 33,426 ​ Income from discontinued operations ​ ​ 3,151 ​ ​ 5,360 ​ Income attributable to Hilltop ​ $ 49,636 ​ $ 38,786 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,509 ​ 93,669 ​ Effect of potentially dilutive securities ​ 41 ​ — ​ Weighted average shares outstanding - diluted ​ 90,550 ​ 93,669 ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 0.51 ​ $ 0.36 ​ Income from discontinued operations ​ ​ 0.04 ​ ​ 0.05 ​ ​ ​ $ 0.55 ​ $ 0.41 ​ ​

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2020
Subsequent Event
Subsequent Event	23. Subsequent Event ​ As a result of the spread of the COVID-19 pandemic, economic uncertainties continue to adversely impact the global economy and has contributed to significant volatility in banking and other financial activity in the areas in which the Company operates. The effects of COVID-19 and the governmental and societal response to the virus have negatively impacted financial markets and overall economic conditions on an unprecedented scale, resulting in the shuttering of businesses across the country and significant job loss. The Company’s business is dependent upon the willingness and ability of its employees and customers to conduct banking and other financial transactions. The rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact of COVID-19. Nevertheless, COVID-19 presents material uncertainty which could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
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. ​ 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 subject to customary closing conditions, including required regulatory approvals, and is expected to close during the second quarter of 2020. Accordingly, as of March 31, 2020 and for all prior periods, NLC’s results have been presented as discontinued operations and its assets and liabilities have been classified as held for sale in the consolidated financial statements. Unless otherwise indicated, information included in the notes to the consolidated financial statements are presented on a consolidated operations basis, which includes results from both continuing and discontinued operations, for all periods presented. For further details, see Note 3 to the consolidated financial statements. ​
Basis of Presentation	Basis of Presentation ​ The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), and in conformity with the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these financial statements contain all adjustments necessary for a fair statement of the results of the interim periods presented. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (“2019 Form 10-K”). Results for interim periods are not necessarily indicative of results to be expected for a full year or any future period. ​ The preparation of financial statements in conformity with 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 credit 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. Other than changes related to the implementation of the current expected credit losses standard (ASU 2016-13), the Company has applied its critical accounting policies and estimation methods consistently in all periods presented in these consolidated financial statements. Actual amounts and values as of the balance sheet dates may be materially different than the amounts and values reported due to the inherent uncertainty in the estimation process. Also, future amounts and values could differ materially from those estimates due to changes in values and circumstances after the balance sheet date. ​ 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 Inc. (“HTS Independent Network”) (collectively, the “Hilltop Broker-Dealers”) and Hilltop Securities Asset Management, LLC. Hilltop Securities is a broker-dealer registered with the SEC and Financial Industry Regulatory Authority (“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 % of the membership interest in HTH Diamond Hillcrest Land LLC (“Hillcrest Land LLC”) which is consolidated under the aforementioned VIE Subsections of the ASC. These entities are related to the Hilltop Plaza investment discussed in detail in Note 18 to the consolidated financial statements included in the Company’s 2019 Form 10-K and are collectively referred to as the “Hilltop Plaza Entities.” ​ 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 and reclassifications due to the presentation of NLC’s results as discontinued operations and its assets and liabilities classified as held for sale. 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. ​ Significant accounting policies are detailed in Note 1 to the consolidated financial statements included in the Company’s 2019 Form 10-K. As a result of the adoption of ASU 2016-13 and related updates, improvements and technical corrections (collectively, “CECL”), the Company has included new or modified significant accounting policies as summarized below.
Securities	Securities ​ Management classifies securities at the time of purchase and reassesses such designations 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. The Company 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.
Allowance for Credit Losses on Available for Sale and Held to Maturity Securities	Allowance for Credit Losses on Available for Sale and Held to Maturity Securities ​ Available for sale debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. For available for sale debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Declines in fair value that have not been recorded through an allowance for credit losses, such as declines due to changes in market interest rates, are recorded through other comprehensive income, net of applicable taxes. ​ Allowances for credit losses may result from credit deterioration of the issuer or the collateral underlying the security. In performing an assessment of whether any decline in fair value is due to a credit loss, all relevant information is considered at the individual security level. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis for the security, a credit loss exists and an allowance for credit losses is recorded, limited to the amount by which the fair value is less than the amortized cost basis. ​ CECL has replaced the previous other-than-temporary-impairment (“OTTI”) model. Under the OTTI model, credit losses were recognized as a reduction to the cost basis of the investment with recovery of an impairment loss recognized prospectively over time as interest income, and reversals of impairment were not allowed. Under CECL, effective January 1, 2020, if the Company intends to sell a debt security, or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the debt security is written down to its fair value and the write down is charged against the allowance for credit losses, with any incremental impairment reported in earnings. Reversals of the allowance for credit losses are permitted and should not exceed the allowance amount initially recognized. ​ For debt securities held to maturity, estimated expected credit losses are calculated in a manner like that used for loans held for investment. That is, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources and adjusted for the expected effects of reasonable and supportable forecasts over the expected lives of the securities on those historical credit losses. With respect to certain classes of debt securities, primarily U.S. Treasuries, the Company considers the history of credit losses, current conditions and reasonable and supportable forecasts, which may indicate that the expectation that nonpayment of the amortized cost basis is or continues to be zero, even if the U.S. government were to technically default. Therefore, for those securities, the Company does not record expected credit losses.
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 credit 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. ​ The accrual of interest on credit deteriorated 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. Once placed on non-accrual status, interest income is recognized on a cash basis. Additionally, accretion of purchased discount on non-accrual loans is suspended. ​ The Company follows applicable regulatory guidance when measuring past due status. The Company uses the actual days elapsed since the payment due date of the loan to determine delinquency. ​ Management defines 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 credit losses. Acquired loans are segregated between those considered to be credit deteriorated and those without credit deterioration at acquisition. To make this determination, management considers such factors as past due status, non-accrual status and credit risk ratings. For acquired performing loans, a lifetime allowance for credit losses is estimated as of the date of acquisition and is recorded through provision for (reversal of) credit losses. The difference between the purchase price and loan receivable is amortized over the remaining life of the loan. ​ All formerly designated purchased credit impaired (“PCI”) loans became purchased credit deteriorated (“PCD”) loans effective January 1, 2020. PCD loans are loans that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination. For PCD loans, any non-credit discount or premium related to an acquired pool of PCD loans is allocated to each individual asset within the pool. On the acquisition date, the initial allowance for credit losses measured on a pooled basis is allocated to each individual asset within the pool to allocate any non-credit discount or premium. Credit losses are measured based on unpaid principal balance. A lifetime allowance for credit losses is estimated as of the date of acquisition. The initial allowance for credit losses is added to the purchase price and is considered to be part of the PCD loan amortized cost basis.
Allowance for Credit Losses for Loans Held for Investment	Allowance for Credit Losses for Loans Held for Investment ​ Credit quality within the loans held for investment portfolio is continuously monitored by management and is reflected within the allowance for credit losses for loans. The allowance for credit losses, or reserve, is an estimate of expected losses over the lifetime of a loan within the Company’s existing loans held for investment portfolio. The allowance for credit losses for loans held for investment is adjusted by a provision for (reversal of) credit losses, which is reported in earnings, and reduced by the charge-off of loan amounts, net of recoveries. ​ The credit loss estimation process involves procedures to appropriately consider the unique characteristics of the Company’s loan portfolio segments, which are further disaggregated into loan classes, the level at which credit risk is monitored. The allowance for credit losses for loans not evaluated for specific reserves is calculated using statistical credit factors, including probabilities of default (“PD”) and loss given default (“LGD”), to the amortized cost of pools of loan exposures with similar risk characteristics over its contractual life, adjusted for prepayments, to arrive at an estimate of expected credit losses. Economic forecasts are applied over the period management believes it can estimate reasonable and supportable forecasts. Reasonable and supportable forecast periods and reversion assumptions to historical data are credit model specific. The Company typically forecasts economic variables over a one to four year horizon. Prepayments are estimated by loan type using historical information and adjusted for current and future conditions. ​ Commercial loans that exceed a minimum size scope are underwritten and graded using credit models that leverage national industry default data to score the loans. At the conclusion of the process of underwriting or re-grading a borrower, each borrower (for commercial and industrial loans) or property (for commercial real estate loans) is assigned a PD grade threshold. The valuation methodology of risk rating internal grades is based on the merits of the financial ratios of the borrower or the property. In addition, an LGD grade is determined by the credit models utilizing collateral information provided. A master rating scale effectively "pools" the loans by credit scores and assigns a standard one year PD percentage and an LGD percentage equally for all loans that have a given score. For borrowers or loans that do not meet the minimum balance threshold, an internal scorecard is utilized to approximate the grades derived from the credit models and is mapped to the master rating scale. The resulting numerical PD grade is the credit quality indicator for commercial loans. The grades on borrowers or properties that are scored in the credit models are determined at origination and updated at least annually. The grades on the internal scorecards are updated annually if they meet a minimum threshold, or if new circumstances (favorable or unfavorable) warrant a re-scoring. ​ When computing allowance levels, credit loss assumptions are estimated using models that analyze loans according to credit risk ratings, historic loss experience, past due status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. Future factors and forecasts may result in significant changes in the allowance and provision (reversal) for credit losses in those future periods. The allowance for credit losses will primarily reflect estimated losses for pools of loans that share similar risk characteristics, but will also consider individual loans that do not share risk characteristics with other loans. ​ Loans that Share Risk Characteristics with Other Loans ​ In estimating the component of the allowance for credit losses for loans that share similar risk characteristics with other loans, such loans are segregated into loan classes. Loans are designated into loan classes based on loans pooled by product types and similar risk characteristics or areas of risk concentration. In determining the allowance for credit losses, the Company derives an estimated credit loss assumption from a model that categorizes loan pools based on loan type and internal risk rating or past due category as follows. ​ Commercial and Industrial and Commercial Real Estate Loans. ​ These factors are based on an evaluation of historical and current information and sometimes involve subjective assessment and interpretation. Specific considerations for construction are considered in the internal PD and LGD risk ratings including property type, development phase and complexity, as well as lease-up and stabilization projections. The PD and LGD factors are further sensitized in the models for future expectations over the loan’s contractual life, adjusted for prepayments. ​ 1-4 Family Residential Loans. The 1-4 family residential loan portfolio is segmented into pools of residential real estate loans with similar credit risk characteristics. The models calculate expected losses and prepayments using borrower information at origination, including FICO score, loan type, collateral type, lien position, geography, origination year, and loan to value. Past due status post-origination is also a key input in the models. Current and future changes in economic conditions, including unemployment rates, home prices, index rates, and mortgage rates, are also considered. ​ Consumer Loans. The consumer loan portfolio is segmented into pools of consumer installment loans or revolving lines of credit with similar credit characteristics. The models calculate expected losses using borrower information at origination, including FICO score, origination year, geography, and collateral type. ​ Broker-Dealer Loans. The broker-dealer loan portfolio is evaluated on an individual basis using the collateral-dependent practical expedient. The collateral-dependent practical expedient allows the broker-dealer to compare the fair value of the collateral of each loan as of the reporting date to loan value. The underlying collateral of the loans to customers and correspondents is marked to market daily and any required additional collateral is collected. The allowance represents the amount of unsecured loan balances at the end of the period. ​ Qualitative Factors ​ Estimating the timing and amounts of future loss cash flows is subject to significant management judgment as these loss cash flows rely upon estimates such as default rates, loss severities, collateral valuations, the amounts and timing of principal payments (including any expected prepayments) or other factors that are reflective of current or future expected conditions. These estimates, in turn, depend on the duration of current overall economic conditions, industry, borrower, or portfolio specific conditions, the expected outcome of bankruptcy or insolvency proceedings, as well as, in certain circumstances, other economic factors, including the level of current and future real estate prices. All of these estimates and assumptions require significant management judgment and certain assumptions that are highly subjective. Model imprecision also exists in the allowance for credit losses estimation process due to the inherent time lag of available industry information and differences between expected and actual outcomes. ​ Management considers adjustments for these conditions in its allowance for credit loss estimates qualitatively where they may not be measured directly in its individual or collective assessments, including but not limited to: ● an adjustment to historical loss data to measure credit risk even if that risk is remote and does not meet the scope of assets with zero expected losses; ● the environmental factors and the areas in which credit is concentrated, such as the regulatory, environmental, or technological environment, the geographical area or key industries, or in the national or regional economic and business conditions where the borrower has exposure; ● the nature and volume of the borrower’s financial assets; ● the borrower’s financial condition, credit rating, credit score, asset quality, or business prospects; ● the borrower’s ability to make scheduled interest or principal payments; ● the remaining payment terms of the financial assets and the remaining time to maturity and the timing and extent of prepayments on the financial assets; ● the volume and severity of past due or adversely classified financial assets; ● the value of underlying collateral in which the collateral-dependent practical expedient has not been utilized; ● any updates to credit lending policies and procedures, including lending strategies, underwriting standards, collection and recovery practices, not reflected in the models; and ● the quality of the internal credit review system. ​ Loans that Do Not Share Risk Characteristics with Other Loans ​ When a loan is assigned a substandard non-accrual risk rating grade, the loan subsequently is evaluated on an individual basis and no longer evaluated on a collective basis. The net realizable value of the loan is compared to the appropriate loan basis (i.e. PCD loan versus non-PCD loan) to determine any allowance for credit losses. Loans that are below a predetermined threshold, with the exception of 1-4 family residential loans, are fully reserved. ​ The Company generally considers non-accrual loans to be collateral-dependent. The practical expedient to measure credit losses using the fair value of the collateral has been exercised. ​ For commercial real estate loans, the fair value of collateral primarily is based on appraisals. For owner occupied real estate loans, underlying properties are occupied by the borrower in its business, and evaluations are based on business operations used to service the debt. For non-owner occupied real estate loans, underlying properties are income-producing and evaluations are based on tenant revenues. For income producing construction and land development loans, appraisals reflect the assumption that properties are completed. ​ For 1-4 family residential loans that are graded substandard non-accrual, an assessment of value is made using the most recent appraisal on file. If the appraisal on file is older than two years, the latest property tax assessment is used as a screening value to determine if a reserve might be required. If the assessed value is less than the appraised value, this value is discounted for selling costs and is used to measure the reserve required. If the appraisal is less than two years old, the value is discounted for selling costs and compared to the appropriate basis in the loan. ​ Consumer loans are charged off when they reach 90 days delinquency as a general rule. There are limited cases where the loan is not charged off due to special circumstances and is subject to the collateral review process. ​
Off-Balance Sheet Credit Exposures, Including Unfunded Loan Commitments	Off-Balance Sheet Credit Exposures, Including Unfunded Loan Commitments ​ The Company maintains a separate allowance for credit losses from off-balance sheet credit exposures, including unfunded loan commitments, which is included in other liabilities within the consolidated balance sheets. The Company estimates expected losses by calculating a commitment usage factor based on industry usage factors. The commitment usage factor is applied over the relevant contractual period. Loss factors from the underlying loans to which commitments are related are applied to the results of the usage calculation to estimate any liability for credit losses related for each loan type.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2020
Discontinued Operations
Schedule of discontinued operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 58,103 ​ $ 51,333 Securities: ​ ​ ​ ​ ​ ​ Available for sale, at fair value ​ ​ 86,101 ​ ​ 86,899 Equity, at fair value ​ ​ 15,440 ​ ​ 19,841 ​ ​ ​ 101,541 ​ ​ 106,740 ​ ​ ​ ​ ​ ​ ​ Premises and equipment, net ​ ​ 9,058 ​ ​ 9,607 Operating lease right-of-use assets ​ ​ 2,674 ​ ​ 2,739 Other assets ​ ​ 50,966 ​ ​ 50,533 Goodwill ​ ​ 23,988 ​ ​ 23,988 Other intangible assets, net ​ ​ 3,428 ​ ​ 3,489 Total assets held for sale ​ $ 249,758 ​ $ 248,429 ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Notes payable ​ $ 27,500 ​ $ 27,500 Operating lease liabilities ​ ​ 2,727 ​ ​ 2,783 Other liabilities ​ ​ 109,503 ​ ​ 110,391 Total liabilities held for sale ​ $ 139,730 ​ $ 140,674 ​ The following table presents the results of discontinued operations for NLC for the periods indicated. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Interest income: ​ ​ ​ ​ ​ ​ Securities: ​ ​ ​ ​ ​ ​ Taxable ​ $ 938 ​ $ 960 Other ​ ​ 67 ​ ​ 142 Total interest income ​ ​ 1,005 ​ ​ 1,102 ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ Notes payable ​ ​ 406 ​ ​ 460 ​ ​ ​ ​ ​ ​ ​ Noninterest income: ​ ​ ​ ​ ​ ​ Net insurance premiums earned ​ ​ 32,637 ​ ​ 33,203 Other ​ ​ (2,246) ​ ​ 3,302 Total noninterest income ​ ​ 30,391 ​ ​ 36,505 ​ ​ ​ ​ ​ ​ ​ Noninterest expense: ​ ​ ​ ​ ​ ​ Employees' compensation and benefits ​ ​ 2,777 ​ ​ 3,202 Occupancy and equipment, net ​ ​ 247 ​ ​ 244 Professional services ​ ​ 8,527 ​ ​ 8,833 Loss and loss adjustment expenses ​ ​ 12,949 ​ ​ 14,926 Other ​ ​ 2,476 ​ ​ 3,133 Total noninterest expense ​ ​ 26,976 ​ ​ 30,338 ​ ​ ​ ​ ​ ​ ​ Income from discontinued operations before income taxes ​ ​ 4,014 ​ ​ 6,809 Income tax expense ​ ​ 863 ​ ​ 1,449 Income from discontinued operations, net of income taxes ​ $ 3,151 ​ $ 5,360 ​ ​
Summary of statutory capital and surplus and statutory net income (loss) 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Statutory capital and surplus: ​ ​ ​ ​ ​ ​ ​ National Lloyds Insurance Company ​ $ 73,892 ​ $ 70,112 ​ American Summit Insurance Company ​ 17,999 ​ 19,201 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Statutory net income (loss): ​ ​ ​ ​ ​ ​ National Lloyds Insurance Company $ 6,527 ​ $ 3,417 ​ American Summit Insurance Company (185) ​ 417 ​
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 and reflected as a part of liabilities held for sale for all periods within the consolidated balance sheets, is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ 2020 2019 ​ Balance, beginning of period ​ $ 15,342 ​ $ 20,552 ​ Less reinsurance recoverables ​ ​ (1,005) ​ ​ (3,214) ​ Net balance, beginning of period ​ ​ 14,337 ​ ​ 17,338 ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred related to: ​ ​ ​ ​ ​ ​ ​ Current year ​ ​ 11,657 ​ ​ 13,993 ​ Prior years ​ ​ 1,474 ​ ​ 935 ​ Total incurred ​ ​ 13,131 ​ ​ 14,928 ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments related to: ​ ​ ​ ​ ​ ​ ​ Current year ​ ​ (7,377) ​ ​ (7,029) ​ Prior years ​ ​ (6,329) ​ ​ (7,152) ​ Total payments ​ ​ (13,706) ​ ​ (14,181) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net balance, end of period ​ ​ 13,762 ​ ​ 18,085 ​ Plus reinsurance recoverables ​ ​ 746 ​ ​ 2,506 ​ Balance, end of period ​ $ 14,508 ​ $ 20,591 ​ ​
Summary of claims loss reserve development activity	A summary of claims loss reserve development activity is presented in the following table (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance ​ March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ But Not ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reported ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reserves Plus Cumulative ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development Number of Accident ​ March 31, 2020 ​ ​ On Reported Reported Year ​ 2017 ​ 2018 ​ 2019 ​ 2020 ​ Claims Claims 2017 ​ $ 87,899 ​ $ 88,025 ​ $ 87,534 ​ $ 87,568 ​ $ 216 ​ 20,174 2018 ​ ​ ​ ​ ​ 75,217 ​ ​ 73,261 ​ ​ 73,314 ​ ​ 927 ​ 14,713 2019 ​ ​ ​ ​ ​ ​ ​ ​ 71,687 ​ ​ 73,072 ​ ​ 4,009 ​ 13,798 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 11,657 ​ 1,565 ​ 2,317 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 245,611 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance ​ ​ ​ ​ ​ Accident ​ March 31, 2020 ​ ​ ​ ​ ​ Year ​ 2017 ​ 2018 ​ 2019 ​ 2020 ​ ​ ​ ​ ​ 2017 ​ $ 77,675 ​ $ 86,319 ​ $ 87,203 ​ $ 87,291 ​ ​ ​ ​ ​ 2018 ​ ​ ​ ​ ​ 61,922 ​ ​ 70,958 ​ ​ 72,255 ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ 55,014 ​ ​ 66,150 ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7,377 ​ ​ ​ ​ ​ Total ​ $ 233,073 ​ ​ ​ ​ ​ All outstanding reserves prior to 2017, net of reinsurance ​ ​ 466 ​ ​ ​ ​ ​ Reserve for unpaid losses and allocated loss adjustment expenses, net of reinsurance ​ $ 13,004 ​ ​ ​ ​ ​ ​
Schedule of effects of reinsurance on premiums written and earned	The effects of reinsurance on premiums written and earned are included within discontinued operations for all periods presented and are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ Written Earned Written Earned Premiums from direct business ​ $ 29,980 ​ $ 30,746 ​ $ 30,790 ​ $ 31,737 ​ ​ Reinsurance assumed ​ 2,952 ​ 3,244 ​ 3,129 ​ 3,191 ​ ​ Reinsurance ceded ​ (1,353) ​ (1,353) ​ (1,725) ​ (1,725) ​ ​ Net premiums ​ $ 31,579 ​ $ 32,637 ​ $ 32,194 ​ $ 33,203 ​ ​
Schedule of effects of reinsurance on incurred losses	The effects of reinsurance on incurred losses and LAE are included within discontinued operations for all periods and are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Losses and LAE incurred ​ $ 12,763 ​ $ 14,985 ​ ​ Reinsurance recoverables ​ 186 ​ (59) ​ ​ Net loss and LAE incurred ​ $ 12,949 ​ $ 14,926 ​ ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 ​ Inputs ​ Inputs ​ Inputs ​ Fair Value Trading securities ​ $ 1,485 ​ $ 392,096 ​ $ — ​ $ 393,581 ​ Available for sale securities ​ ​ — ​ ​ 972,318 ​ ​ — ​ ​ 972,318 ​ Equity securities ​ ​ 107 ​ ​ — ​ ​ — ​ ​ 107 ​ Loans held for sale ​ ​ — ​ ​ 2,010,381 ​ ​ 79,588 ​ ​ 2,089,969 ​ Derivative assets ​ ​ — ​ ​ 192,729 ​ ​ — ​ ​ 192,729 ​ MSR asset ​ ​ — ​ ​ — ​ ​ 30,299 ​ ​ 30,299 ​ Securities sold, not yet purchased ​ ​ 11,333 ​ ​ 11,435 ​ ​ — ​ ​ 22,768 ​ Derivative liabilities ​ ​ — ​ ​ 171,210 ​ ​ — ​ ​ 171,210 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ — ​ ​ 911,493 ​ ​ — ​ ​ 911,493 ​ Equity securities ​ ​ 166 ​ ​ — ​ ​ — ​ ​ 166 ​ 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 ​ ​
Rollforward for financial instruments measured at fair value using Level 3 inputs	The following tables include 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 to ​ Included in ​ Comprehensive ​ Balance at ​ ​ Period ​ Additions ​ Reductions ​ (from) Level 3 ​ Net Income ​ Income (Loss) ​ End of Period Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 67,195 ​ $ 14,285 ​ $ (4,175) ​ $ 6,220 ​ $ (3,937) ​ $ — ​ $ 79,588 ​ MSR asset ​ 55,504 ​ ​ 4,475 ​ ​ (18,650) ​ ​ — ​ ​ (11,030) ​ ​ — ​ 30,299 ​ Total ​ $ 122,699 ​ $ 18,760 ​ $ (22,825) ​ $ 6,220 ​ $ (14,967) ​ $ — ​ $ 109,887 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 50,464 ​ $ 15,427 ​ $ (6,976) ​ $ 1,037 ​ $ (2,108) ​ $ — ​ $ 57,844 ​ MSR asset ​ ​ 66,102 ​ ​ 1,861 ​ ​ — ​ ​ — ​ ​ (5,914) ​ ​ — ​ ​ 62,049 ​ Total ​ $ 116,566 ​ $ 17,288 ​ $ (6,976) ​ $ 1,037 ​ $ (8,022) ​ $ — ​ $ 119,893 ​ ​
Schedule of significant unobservable inputs used in the fair value measurements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Range (Weighted-Average) ​ ​ ​ ​ ​ ​ March 31, ​ December 31, Financial instrument Valuation Technique Unobservable Inputs 2020 ​ 2019 Loans ​ Discounted cash flows / Market comparable ​ Projected price ​ 90 - 94 % ( 93 %) ​ 92 - 96 % ( 95 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MSR asset ​ Discounted cash flows ​ Constant prepayment rate ​ ​ ​ 16.98 % ​ ​ ​ ​ ​ 13.16 % ​ ​ ​ ​ ​ ​ Discount rate ​ ​ ​ 11.01 % ​ ​ ​ ​ ​ 11.14 % ​ ​
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ Three Months Ended March 31, 2019 ​ ​ ​ Other Total ​ Other Total ​ ​ Net ​ Noninterest ​ Changes in ​ Net ​ Noninterest ​ Changes in ​ ​ ​ Gains (Losses) ​ Income ​ Fair Value ​ Gains (Losses) ​ Income ​ Fair Value ​ Loans held for sale ​ $ 33,979 ​ $ — ​ $ 33,979 ​ $ (13,324) ​ $ — ​ $ (13,324) ​ MSR asset ​ (11,030) ​ — ​ (11,030) ​ (5,914) ​ — ​ (5,914) ​ ​ ​
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 ​ ​ March 31, 2020 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 524,771 ​ $ 524,771 ​ $ — ​ $ — ​ $ 524,771 ​ Assets segregated for regulatory purposes ​ ​ 178,805 ​ ​ 178,805 ​ ​ — ​ ​ — ​ ​ 178,805 ​ Securities purchased under agreements to resell ​ ​ 23,356 ​ ​ — ​ ​ 23,356 ​ ​ — ​ ​ 23,356 ​ Held to maturity securities ​ ​ 355,110 ​ ​ — ​ ​ 369,614 ​ ​ — ​ ​ 369,614 ​ Loans held for sale ​ ​ 343,438 ​ ​ — ​ ​ 343,438 ​ ​ — ​ ​ 343,438 ​ Loans held for investment, net ​ ​ 7,238,511 ​ ​ — ​ ​ 506,250 ​ ​ 6,845,844 ​ ​ 7,352,094 ​ Broker-dealer and clearing organization receivables ​ 1,838,789 ​ — ​ 1,838,789 ​ — ​ 1,838,789 ​ Other assets ​ 73,118 ​ — ​ 70,544 ​ 2,574 ​ 73,118 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 9,947,489 ​ — ​ 9,962,915 ​ — ​ 9,962,915 ​ Broker-dealer and clearing organization payables ​ 1,259,181 ​ — ​ 1,259,181 ​ — ​ 1,259,181 ​ Short-term borrowings ​ 1,329,948 ​ — ​ 1,329,948 ​ — ​ 1,329,948 ​ Debt ​ 311,054 ​ — ​ 311,054 ​ — ​ 311,054 ​ Other liabilities ​ 6,376 ​ — ​ 6,376 ​ — ​ 6,376 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ Carrying Level 1 Level 2 Level 3 ​ ​ December 31, 2019 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 434,020 ​ $ 434,020 ​ $ — ​ $ — ​ $ 434,020 ​ 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 ​ 323,281 ​ — ​ 323,281 ​ — ​ 323,281 ​ Other liabilities ​ 8,340 ​ — ​ 8,340 ​ — ​ 8,340 ​
Schedule of adjustments to the carrying value of these investments	The following table presents the adjustments to the carrying value of these investments during the periods presented (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Balance, beginning of period ​ $ 19,771 $ 20,376 Additional investments ​ ​ ​ — ​ ​ — Upward adjustments ​ ​ ​ 106 ​ ​ 101 Impairments and downward adjustments ​ ​ ​ (789) ​ ​ — Dispositions ​ ​ — ​ — Balance, end of period ​ ​ $ 19,088 ​ $ 20,477

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2020
Securities
Summary of trading securities	The fair value of trading securities is summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 2019 U.S. Treasury securities $ 1,485 $ — U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ ​ — ​ ​ 24,680 ​ ​ Residential mortgage-backed securities ​ 164,899 ​ 331,601 ​ ​ Commercial mortgage-backed securities ​ 2,136 ​ 2,145 ​ ​ Collateralized mortgage obligations ​ ​ 80,262 ​ ​ 191,154 ​ ​ Corporate debt securities ​ ​ 28,893 ​ ​ 36,973 ​ ​ States and political subdivisions ​ ​ 103,075 ​ ​ 93,117 ​ ​ Unit investment trusts ​ ​ — ​ ​ 3,468 ​ ​ Private-label securitized product ​ ​ 650 ​ ​ 2,992 ​ ​ Other ​ ​ 12,181 ​ ​ 3,446 ​ ​ Totals ​ $ 393,581 ​ $ 689,576 ​ ​
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 ​ ​ ​ March 31, 2020 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 88,299 ​ $ 1,437 ​ $ — ​ $ 89,736 ​ Residential mortgage-backed securities ​ 415,399 ​ 14,435 ​ — ​ 429,834 ​ Commercial mortgage-backed securities ​ ​ 11,436 ​ 967 ​ — ​ 12,403 ​ Collateralized mortgage obligations ​ 385,409 ​ 9,634 ​ (1,057) ​ 393,986 ​ States and political subdivisions ​ 44,613 ​ 1,746 ​ — ​ 46,359 ​ Totals ​ $ 945,156 ​ $ 28,219 ​ $ (1,057) ​ $ 972,318 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ December 31, 2019 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 84,590 ​ $ 1,049 ​ $ (64) ​ $ 85,575 ​ Residential mortgage-backed securities ​ 430,514 ​ 6,662 ​ (147) ​ 437,029 ​ Commercial mortgage-backed securities ​ ​ 11,488 ​ 543 ​ — ​ 12,031 ​ Collateralized mortgage obligations ​ 333,256 ​ 3,175 ​ (815) ​ 335,616 ​ States and political subdivisions ​ 39,969 ​ 1,273 ​ — ​ 41,242 ​ Totals ​ $ 899,817 ​ $ 12,702 ​ $ (1,026) ​ $ 911,493 ​
Summary of amortized cost and fair value of held to maturity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to Maturity ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ March 31, 2020 Cost Gains Losses Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 16,809 ​ $ 676 ​ $ — ​ $ 17,485 Commercial mortgage-backed securities ​ ​ 160,113 ​ 10,405 ​ — ​ 170,518 Collateralized mortgage obligations ​ 106,926 ​ 2,260 ​ (37) ​ 109,149 States and political subdivisions ​ 71,262 ​ 1,335 ​ (135) ​ 72,462 Totals ​ $ 355,110 ​ $ 14,676 ​ $ (172) ​ $ 369,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to Maturity ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ December 31, 2019 Cost Gains Losses Fair Value 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 ​
Schedule of information regarding available for sale securities that were in an unrealized loss position	Information regarding available for sale and held to maturity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ Number of ​ ​ Unrealized Number of ​ ​ Unrealized ​ ​ Securities ​ Fair Value ​ Losses ​ Securities ​ Fair Value ​ Losses Available for Sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ $ — ​ $ — 2 ​ $ 24,937 ​ $ 64 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ ​ — ​ ​ — 2 ​ 24,937 ​ 64 ​ Residential mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 37 ​ 36,187 ​ 87 ​ Unrealized loss for twelve months or longer — ​ — ​ — 2 ​ 13,683 ​ 58 ​ ​ — ​ ​ — ​ ​ — 39 ​ 49,870 ​ 145 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 1 ​ 9,967 ​ 2 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ ​ — ​ ​ — 1 ​ 9,967 ​ 2 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 4 ​ 20,214 ​ 165 15 ​ 94,545 ​ 446 ​ Unrealized loss for twelve months or longer 15 ​ 58,090 ​ 892 13 ​ 46,217 ​ 369 ​ ​ 19 ​ ​ 78,304 ​ ​ 1,057 28 ​ 140,762 ​ 815 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 1 ​ 537 ​ — — ​ — ​ — ​ Unrealized loss for twelve months or longer — ​ — ​ — 1 ​ 487 ​ — ​ ​ 1 ​ ​ 537 ​ ​ — 1 ​ 487 ​ — ​ Total available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 5 ​ 20,751 ​ 165 55 ​ 165,636 ​ 599 ​ Unrealized loss for twelve months or longer 15 ​ 58,090 ​ 892 16 ​ 60,387 ​ 427 ​ ​ 20 ​ $ 78,841 ​ $ 1,057 71 ​ $ 226,023 ​ $ 1,026 ​
Schedule of information regarding held to maturity securities that were in an unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ 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 — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 2 ​ 9,665 ​ 35 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 2 ​ 15,488 ​ 37 4 ​ 23,904 ​ 287 ​ Unrealized loss for twelve months or longer — ​ — ​ — 8 ​ 59,560 ​ 617 ​ ​ 2 ​ 15,488 ​ 37 12 ​ 83,464 ​ 904 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 27 ​ 10,470 ​ 133 38 ​ 15,996 ​ 124 ​ Unrealized loss for twelve months or longer 2 ​ 604 ​ 2 4 ​ 1,099 ​ 31 ​ ​ 29 ​ 11,074 ​ 135 42 ​ 17,095 ​ 155 ​ Total held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 29 ​ 25,958 ​ 170 52 ​ 94,175 ​ 1,102 ​ Unrealized loss for twelve months or longer 2 ​ 604 ​ 2 12 ​ 60,659 ​ 648 ​ ​ 31 ​ $ 26,562 ​ $ 172 64 ​ $ 154,834 ​ $ 1,750 ​
Schedule of amortized cost and fair value of securities, excluding trading and equity available for sale securities, by contractual maturity	The amortized cost and fair value of securities, excluding trading and equity securities, at March 31, 2020 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 ​ $ 2,071 ​ $ 2,090 ​ $ 453 ​ $ 456 ​ Due after one year through five years ​ 73,668 ​ 75,246 ​ 987 ​ 994 ​ Due after five years through ten years ​ 35,387 ​ 35,914 ​ 6,160 ​ 6,264 ​ Due after ten years ​ 21,786 ​ 22,845 ​ 63,662 ​ 64,748 ​ ​ ​ 132,912 ​ 136,095 ​ 71,262 ​ 72,462 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ 415,399 ​ 429,834 ​ 16,809 ​ 17,485 ​ Collateralized mortgage obligations ​ 385,409 ​ 393,986 ​ 106,926 ​ 109,149 ​ Commercial mortgage-backed securities ​ 11,436 ​ 12,403 ​ 160,113 ​ 170,518 ​ ​ ​ $ 945,156 ​ $ 972,318 ​ $ 355,110 ​ $ 369,614 ​

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	3 Months Ended
	Mar. 31, 2020
Loans Held for Investment
Summary of loans held for investment by portfolio segment	Loans held for investment summarized by portfolio segment are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Commercial real estate ​ $ 3,062,042 ​ $ 3,000,523 ​ Commercial and industrial ​ 2,101,968 ​ 2,025,720 ​ Construction and land development ​ 955,173 ​ 940,564 ​ 1-4 family residential ​ ​ 676,630 ​ 791,020 ​ Consumer ​ ​ 43,187 ​ 47,046 ​ Broker-dealer (1) ​ ​ 506,250 ​ 576,527 ​ ​ ​ 7,345,250 ​ 7,381,400 ​ Allowance for credit losses ​ (106,739) ​ (61,136) ​ Total loans held for investment, net of allowance ​ $ 7,238,511 ​ $ 7,320,264 ​ (1) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations. ​
Summary of non-accrual loans by portfolio segment	Non-accrual loans, excluding those classified as held for sale, are summarized by class in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Commercial real estate: ​ ​ Non-owner occupied ​ $ 18,168 ​ $ 3,813 ​ Owner occupied ​ 5,184 ​ 3,495 ​ Commercial and industrial ​ ​ 47,121 ​ 15,262 ​ Construction and land development ​ 1,402 ​ 1,316 ​ 1-4 family residential ​ 10,599 ​ 7,382 ​ Consumer ​ 310 ​ 26 ​ Broker-dealer ​ — ​ — ​ ​ ​ $ 82,784 ​ $ 31,294 ​ ​ At March 31, 2020 and December 31, 2019, an additional $4.6 million and $4.8 million, respectively, of real estate loans secured by residential properties and classified as held for sale were in non-accrual status. ​ The following table provides further details associated with non-accrual loans (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ Non-accrual Loans ​ Interest Income March 31, 2020 with Allowance with No Allowance Total Recognized (1) Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 9,179 ​ $ 8,989 ​ $ 18,168 ​ $ (97) Owner occupied ​ 1,162 ​ ​ 4,022 ​ ​ 5,184 ​ ​ 16 Commercial and industrial ​ ​ 39,950 ​ ​ 7,171 ​ ​ 47,121 ​ ​ 300 Construction and land development ​ 176 ​ ​ 1,226 ​ ​ 1,402 ​ ​ 22 1-4 family residential ​ 1,516 ​ ​ 9,083 ​ ​ 10,599 ​ ​ 983 Consumer ​ 310 ​ ​ — ​ ​ 310 ​ ​ (5) Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 52,293 ​ $ 30,491 ​ $ 82,784 ​ $ 1,219 (1) Interest income recognized on non-accrual loans during the three months ended March 31, 2019 was $0.4 million. ​
Schedule of information regarding TDRs granted	Information regarding TDRs granted during the three months ended March 31, 2020, is shown in the following table (dollars in thousands). There were no TDRs granted during the three months ended March 31, 2019. At March 31, 2020 and December 31, 2019, the Bank had nominal unadvanced commitments to borrowers whose loans have been restructured in TDRs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Number of Balance at Balance at ​ ​ ​ Loans ​ Extension ​ End of Period ​ Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ ​ — ​ $ — ​ $ — ​ Owner occupied ​ ​ — ​ — ​ — ​ Commercial and industrial ​ ​ 1 ​ 1,089 ​ 1,166 ​ Construction and land development ​ ​ — ​ — ​ — ​ 1-4 family residential ​ ​ — ​ — ​ — ​ Consumer ​ ​ — ​ — ​ — ​ Broker-dealer ​ ​ — ​ — ​ — ​ Covered ​ ​ — ​ — ​ — ​ ​ ​ ​ 1 $ 1,089 $ 1,166 ​
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 ​ Total ​ Past Due March 31, 2020 ​ 30-59 Days ​ 60-89 Days ​ 90 Days or More ​ Past Due Loans ​ Loans ​ Loans ​ 90 Days or More Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 6,488 ​ $ 16,772 ​ $ 199 ​ $ 23,459 ​ $ 1,721,265 ​ $ 1,744,724 ​ $ — ​ Owner occupied ​ 12,152 ​ 2,685 ​ ​ 3,400 ​ 18,237 ​ 1,299,081 ​ ​ 1,317,318 ​ ​ — ​ Commercial and industrial ​ ​ 6,740 ​ 1,125 ​ ​ 2,768 ​ 10,633 ​ 2,091,335 ​ ​ 2,101,968 ​ ​ 47 ​ Construction and land development ​ 3,955 ​ 3 ​ ​ 98 ​ 4,056 ​ 951,117 ​ ​ 955,173 ​ ​ 97 ​ 1-4 family residential ​ 16,832 ​ 2,600 ​ ​ 5,896 ​ 25,328 ​ 651,302 ​ ​ 676,630 ​ ​ — ​ Consumer ​ 167 ​ 158 ​ ​ 284 ​ 609 ​ 42,578 ​ ​ 43,187 ​ ​ — ​ Broker-dealer ​ — ​ — ​ ​ — ​ — ​ 506,250 ​ ​ 506,250 ​ ​ — ​ ​ ​ $ 46,334 ​ $ 23,343 ​ $ 12,645 ​ $ 82,322 ​ $ 7,262,928 ​ $ 7,345,250 ​ $ 144 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accruing Loans ​ ​ Loans Past Due ​ Loans Past Due ​ Loans Past Due ​ Total ​ Current ​ Total ​ Past Due December 31, 2019 ​ 30-59 Days ​ 60-89 Days ​ 90 Days or More ​ Past Due Loans ​ Loans ​ Loans ​ 90 Days or More Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 4,062 ​ $ — ​ $ 2,790 ​ $ 6,852 ​ $ 1,702,500 ​ $ 1,709,352 ​ $ — ​ Owner occupied ​ 1,813 ​ ​ 880 ​ ​ 3,265 ​ 5,958 ​ 1,285,213 ​ ​ 1,291,171 ​ ​ — ​ Commercial and industrial ​ ​ 5,967 ​ ​ 1,735 ​ ​ 3,395 ​ 11,097 ​ 2,014,623 ​ ​ 2,025,720 ​ ​ 3 ​ Construction and land development ​ 7,580 ​ ​ 1,827 ​ ​ — ​ 9,407 ​ 931,157 ​ ​ 940,564 ​ ​ — ​ 1-4 family residential ​ 12,058 ​ ​ 3,442 ​ ​ 6,520 ​ 22,020 ​ 769,000 ​ ​ 791,020 ​ ​ — ​ Consumer ​ 455 ​ ​ 34 ​ ​ — ​ 489 ​ 46,557 ​ ​ 47,046 ​ ​ — ​ Broker-dealer ​ — ​ ​ — ​ ​ — ​ — ​ 576,527 ​ ​ 576,527 ​ ​ — ​ ​ ​ $ 31,935 ​ $ 7,918 ​ $ 15,970 ​ $ 55,823 ​ $ 7,325,577 ​ $ 7,381,400 ​ $ 3 ​
Schedule of internal risk grades of loans by class	The following table presents loans held for investment grouped by asset class and credit quality indicator, segregated by year of origination or renewal (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ ​ ​ ​ ​ ​ March 31, 2020 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ ​ 2015 and Prior ​ Revolving ​ Total Commercial real estate: non-owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 2,702 ​ $ 42,015 ​ $ 9,354 ​ $ 14,536 ​ $ 15,164 ​ $ 19,926 ​ $ 402 ​ $ 104,099 Internal Grade 4-7 (Pass normal risk) ​ ​ 45,963 ​ ​ 186,755 ​ ​ 150,078 ​ ​ 149,826 ​ ​ 148,241 ​ ​ 126,033 ​ ​ 25,449 ​ ​ 832,345 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 48,289 ​ ​ 117,730 ​ ​ 169,739 ​ ​ 126,886 ​ ​ 174,480 ​ ​ 82,043 ​ ​ 1,145 ​ ​ 720,312 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ — ​ ​ 1,189 ​ ​ 1,784 ​ ​ 4,317 ​ ​ 8,387 ​ ​ 54,123 ​ ​ — ​ ​ 69,800 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 15,330 ​ ​ — ​ ​ 882 ​ ​ — ​ ​ 1,956 ​ ​ — ​ ​ 18,168 Commercial real estate: owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 19,261 ​ $ 35,707 ​ $ 11,362 ​ $ 27,494 ​ $ 23,433 ​ $ 48,577 ​ $ 2 ​ $ 165,836 Internal Grade 4-7 (Pass normal risk) ​ ​ 73,334 ​ ​ 153,997 ​ ​ 219,995 ​ ​ 91,386 ​ ​ 75,445 ​ ​ 124,679 ​ ​ 31,734 ​ ​ 770,570 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 6,627 ​ ​ 76,220 ​ ​ 64,306 ​ ​ 92,640 ​ ​ 33,586 ​ ​ 43,919 ​ ​ 15,103 ​ ​ 332,401 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 48 ​ ​ — ​ ​ 48 Internal Grade 13 (Substandard accrual) ​ ​ 3,466 ​ ​ 2,436 ​ ​ 3,980 ​ ​ 11,661 ​ ​ 9,105 ​ ​ 12,631 ​ ​ — ​ ​ 43,279 Internal Grade 14 (Substandard non-accrual) ​ ​ 555 ​ ​ — ​ ​ 81 ​ ​ 2,528 ​ ​ 1,041 ​ ​ 979 ​ ​ — ​ ​ 5,184 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 20,004 ​ $ 14,683 ​ $ 7,762 ​ $ 6,239 ​ $ 4,817 ​ $ 881 ​ $ 92,106 ​ $ 146,492 Internal Grade 4-7 (Pass normal risk) ​ ​ 36,169 ​ ​ 119,001 ​ ​ 77,750 ​ ​ 58,562 ​ ​ 25,450 ​ ​ 19,585 ​ ​ 374,251 ​ ​ 710,768 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 40,361 ​ ​ 98,826 ​ ​ 64,810 ​ ​ 26,805 ​ ​ 41,982 ​ ​ 3,828 ​ ​ 200,425 ​ ​ 477,037 Internal Grade 12 (Special mention) ​ ​ 844 ​ ​ 1,372 ​ ​ 2,028 ​ ​ 492 ​ ​ 5,246 ​ ​ — ​ ​ 13,306 ​ ​ 23,288 Internal Grade 13 (Substandard accrual) ​ ​ 28 ​ ​ 3,411 ​ ​ 8,785 ​ ​ 2,642 ​ ​ 6,596 ​ ​ 4,396 ​ ​ 16,475 ​ ​ 42,333 Internal Grade 14 (Substandard non-accrual) ​ ​ 30,145 ​ ​ 2,445 ​ ​ 1,506 ​ ​ 8,225 ​ ​ 231 ​ ​ 379 ​ ​ 4,190 ​ ​ 47,121 Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 4,717 ​ $ 21,250 ​ $ 23,557 ​ $ 282 ​ $ 1,169 ​ $ 337 ​ $ 1,956 ​ $ 53,268 Internal Grade 4-7 (Pass normal risk) ​ ​ 80,147 ​ ​ 237,466 ​ ​ 106,525 ​ ​ 38,310 ​ ​ 7,760 ​ ​ 5,038 ​ ​ 41,525 ​ ​ 516,771 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 24,257 ​ ​ 164,164 ​ ​ 133,025 ​ ​ 22,711 ​ ​ 4,431 ​ ​ 2,119 ​ ​ 6,899 ​ ​ 357,606 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ — ​ ​ 1,135 ​ ​ — ​ ​ — ​ ​ — ​ ​ 7 ​ ​ — ​ ​ 1,142 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 458 ​ ​ — ​ ​ — ​ ​ 768 ​ ​ 176 ​ ​ — ​ ​ 1,402 Construction and land development - individuals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — FICO between 620 and 720 ​ ​ — ​ ​ 4,394 ​ ​ 1,474 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,868 FICO greater than 720 ​ ​ 3,171 ​ ​ 10,617 ​ ​ 5,184 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,972 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other (1) ​ ​ 144 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 144 1-4 family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ 738 ​ $ 3,724 ​ $ 231 ​ $ 1,110 ​ $ 40,354 ​ $ 545 ​ $ 46,702 FICO between 620 and 720 ​ ​ 1,252 ​ ​ 11,793 ​ ​ 15,878 ​ ​ 10,850 ​ ​ 13,739 ​ ​ 48,114 ​ ​ 1,585 ​ ​ 103,211 FICO greater than 720 ​ ​ 16,389 ​ ​ 84,807 ​ ​ 105,533 ​ ​ 54,505 ​ ​ 50,839 ​ ​ 106,744 ​ ​ 4,521 ​ ​ 423,338 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 101 ​ ​ 439 ​ ​ 10,059 ​ ​ — ​ ​ 10,599 Other (1) ​ ​ 8,660 ​ ​ 58,480 ​ ​ 9,557 ​ ​ 2,238 ​ ​ 1,466 ​ ​ 10,152 ​ ​ 2,227 ​ ​ 92,780 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 318 ​ $ 1,830 ​ $ 312 ​ $ 193 ​ $ 59 ​ $ 100 ​ $ 373 ​ $ 3,185 FICO between 620 and 720 ​ ​ 2,145 ​ ​ 5,082 ​ ​ 971 ​ ​ 919 ​ ​ 183 ​ ​ 152 ​ ​ 2,686 ​ ​ 12,138 FICO greater than 720 ​ ​ 2,722 ​ ​ 8,327 ​ ​ 3,694 ​ ​ 542 ​ ​ 500 ​ ​ 131 ​ ​ 5,062 ​ ​ 20,978 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 35 ​ ​ — ​ ​ 25 ​ ​ 250 ​ ​ 310 Other (1) ​ ​ 2,346 ​ ​ 3,178 ​ ​ 673 ​ ​ 66 ​ ​ 56 ​ ​ — ​ ​ 257 ​ ​ 6,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans with credit quality measures ​ $ 474,016 ​ $ 1,484,836 ​ $ 1,203,427 ​ $ 756,104 ​ $ 655,723 ​ $ 767,491 ​ $ 842,474 ​ $ 6,184,071 Commercial and industrial (collateral maintenance) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 654,929 Broker-dealer (collateral maintenance) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 506,250 Total loans held for investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,345,250 (1) Loans classified in this category were assigned a FICO score based on various factors specific to the borrower for credit modeling purposes.
Schedule of changes in the allowance for loan losses by portfolio segment	Changes in the allowance for credit losses for loans held for investment, distributed by portfolio segment, are shown below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Three Months Ended March 31, 2020 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 31,595 ​ $ 8,073 ​ $ 14,475 ​ $ (214) ​ $ 10 ​ $ 53,939 ​ Commercial and industrial ​ 17,964 ​ 3,193 ​ 18,446 ​ (1,440) ​ 387 ​ 38,550 ​ Construction and land development ​ 4,878 ​ 577 ​ 907 ​ (2) ​ — ​ 6,360 ​ 1-4 family residential ​ 6,386 ​ (29) ​ 201 ​ (203) ​ 10 ​ 6,365 ​ Consumer ​ ​ 265 ​ ​ 748 ​ ​ 246 ​ ​ (176) ​ ​ 120 ​ ​ 1,203 ​ Broker-dealer ​ ​ 48 ​ ​ — ​ ​ 274 ​ ​ — ​ ​ — ​ ​ 322 ​ Total ​ $ 61,136 ​ $ 12,562 ​ $ 34,549 ​ $ (2,035) ​ $ 527 ​ $ 106,739 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Three Months Ended March 31, 2019 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 27,100 ​ $ — ​ $ (255) ​ $ — ​ $ — ​ $ 26,845 ​ Commercial and industrial ​ 21,980 ​ — ​ 458 ​ (1,818) ​ 648 ​ 21,268 ​ Construction and land development ​ 6,061 ​ — ​ (153) ​ — ​ — ​ 5,908 ​ 1-4 family residential ​ 3,956 ​ — ​ 389 ​ (28) ​ 14 ​ 4,331 ​ Consumer ​ ​ 267 ​ ​ — ​ ​ 586 ​ ​ (454) ​ ​ 10 ​ ​ 409 ​ Broker-dealer ​ ​ 122 ​ ​ — ​ ​ (74) ​ ​ — ​ ​ — ​ ​ 48 ​ Total ​ $ 59,486 ​ $ — ​ $ 951 ​ $ (2,300) ​ $ 672 ​ $ 58,809 ​

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2020
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 ​ 2019 Balance, beginning of period $ 55,504 ​ $ 66,102 ​ Additions 4,475 ​ 1,861 ​ Sales (18,650) ​ — ​ Changes in fair value: ​ ​ ​ ​ ​ ​ Due to changes in model inputs or assumptions (1) (9,594) ​ (5,033) ​ Due to customer payoffs (1,436) ​ (881) ​ Balance, end of period $ 30,299 ​ $ 62,049 ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 ​ 2019 ​ Mortgage loans serviced for others $ 3,500,731 ​ $ 4,948,441 ​ MSR asset as a percentage of serviced mortgage loans 0.87 % 1.12 % (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	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Weighted average constant prepayment rate 16.98 % ​ 13.16 % Weighted average discount rate 11.01 % ​ 11.14 % Weighted average life (in years) 4.8 ​ ​ 6.0 ​
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Constant prepayment rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ $ (2,152) ​ $ (3,072) ​ Impact of 20% adverse change ​ (4,122) ​ (5,943) ​ Discount rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ (1,014) ​ (2,094) ​ Impact of 20% adverse change ​ (1,959) ​ (4,028) ​

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2020
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Noninterest-bearing demand ​ $ 2,865,192 ​ $ 2,769,556 ​ Interest-bearing: ​ ​ ​ ​ ​ ​ ​ Demand accounts ​ 1,893,125 ​ 1,881,614 ​ Brokered - demand ​ 475,080 ​ — ​ Money market ​ 2,823,663 ​ 2,641,116 ​ Brokered - money market ​ 30,006 ​ 5,000 ​ Savings ​ 198,319 ​ 199,076 ​ Time ​ 1,386,214 ​ 1,505,375 ​ Brokered - time ​ 275,890 ​ 30,477 ​ ​ ​ $ 9,947,489 ​ $ 9,032,214 ​

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	3 Months Ended
	Mar. 31, 2020
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Federal funds purchased ​ $ 199,095 ​ $ 81,625 ​ Securities sold under agreements to repurchase ​ 698,433 ​ 612,125 ​ Federal Home Loan Bank ​ 150,000 ​ 600,000 ​ Short-term bank loans ​ ​ 250,500 ​ ​ 111,000 ​ Commercial paper ​ 31,920 ​ 19,260 ​ ​ ​ $ 1,329,948 ​ $ 1,424,010 ​
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ Average balance during the period ​ $ 732,954 ​ $ 654,117 ​ ​ ​ ​ Average interest rate during the period ​ 1.78 % ​ 2.63 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ ​ Average interest rate at end of period ​ 1.31 % ​ 1.97 % ​ ​ ​ Securities underlying the agreements at end of period: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying value ​ $ 705,544 ​ $ 612,515 ​ ​ ​ ​ Estimated fair value ​ $ 753,129 ​ $ 661,023 ​ ​ ​ ​ ​
FHLB notes
Short-term borrowings
Schedule of short-term borrowings	Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Average balance during the period ​ $ 153,736 ​ $ 4,167 ​ ​ Average interest rate during the period ​ ​ 1.63 % ​ 2.65 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ ​ ​ ​ 2020 ​ ​ 2019 ​ ​ Average interest rate at end of period ​ ​ 0.50 % ​ 1.56 % ​

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Senior Notes due April 2025, net of discount of $1,191 and $1,232, respectively ​ $ 148,809 ​ $ 148,768 FHLB notes, including premium of $131 and $146, respectively, with maturities ranging from September 2020 to June 2030 ​ 28,514 ​ 28,848 Ventures Management lines of credit due May 2020 ​ ​ 66,719 ​ ​ 78,653 ​ ​ $ 244,042 ​ $ 256,269

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ 2020 ​ ​ 2019 Finance leases: ​ ​ ​ ​ ​ ​ Premises and equipment ​ $ 7,780 ​ $ 7,780 Accumulated depreciation ​ ​ (4,326) ​ ​ (4,178) Premises and equipment, net ​ $ 3,454 ​ $ 3,602
Schedule of components of lease costs	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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Operating lease cost ​ $ 10,630 ​ $ 10,531 ​ ​ Less operating lease and sublease income ​ ​ (618) ​ ​ (388) ​ ​ Net operating lease cost ​ $ 10,012 ​ $ 10,143 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ $ 147 ​ $ 147 ​ ​ Interest on lease liabilities ​ ​ 144 ​ ​ 152 ​ ​ Total finance lease cost ​ $ 291 ​ $ 299 ​ ​
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 9,951 ​ $ 8,220 ​ Operating cash flows from finance leases ​ ​ 144 ​ ​ 152 ​ Financing cash flows from finance leases ​ ​ 155 ​ ​ 144 ​ Right-of-use assets obtained in exchange for new lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 4,049 ​ $ 3,591 ​ 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. ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ Weighted Average ​ ​ ​ Remaining Lease ​ Weighted Average Lease Classification Term (Years) ​ Discount Rate Operating 5.9 ​ 5.19 % Finance 6.3 ​ 4.79 % ​
Schedule of maturities of lease liabilities under the Leasing Standard	Future minimum lease payments under the Leasing Standard as of March 31, 2020, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). The table below includes future minimum lease payments of $3.5 million at March 31, 2020 for operating lease liabilities associated with discontinued operations. ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases 2020 $ 26,439 ​ $ 899 2021 ​ 30,275 ​ ​ 1,212 2022 ​ 24,261 ​ ​ 1,241 2023 ​ 19,415 ​ ​ 1,280 2024 ​ 12,740 ​ ​ 1,163 Thereafter ​ 35,810 ​ ​ 2,297 Total minimum lease payments $ 148,940 ​ $ 8,092 Less amount representing interest ​ (22,090) ​ ​ (2,751) Lease liabilities $ 126,850 ​ $ 5,341

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
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 ​ ​ Three Months Ended March 31, ​ 2020 2019 Balance, beginning of period ​ $ 32,144 ​ $ 33,784 ​ Claims made ​ 6,071 ​ 3,182 ​ Claims resolved with no payment ​ (984) ​ (5,687) ​ Repurchases ​ (2,330) ​ (1,167) ​ Indemnification payments ​ (122) ​ — ​ Balance, end of period ​ $ 34,779 ​ $ 30,112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification Liability Reserve Activity ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Balance, beginning of period ​ $ 11,776 ​ $ 10,701 ​ Additions for new sales ​ 725 ​ 489 ​ Repurchases ​ (271) ​ (82) ​ Early payment defaults ​ (39) ​ (142) ​ Indemnification payments ​ (43) ​ (3) ​ Change in reserves for loans sold in prior years ​ — ​ (242) ​ Balance, end of period ​ $ 12,148 ​ $ 10,721 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 ​ 2019 Reserve for Indemnification Liability: ​ ​ ​ ​ ​ ​ ​ Specific claims ​ $ 1,186 ​ $ 1,071 ​ Incurred but not reported claims ​ 10,962 ​ 10,705 ​ Total ​ $ 12,148 ​ $ 11,776 ​ ​

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Tables)	3 Months Ended
	Mar. 31, 2020
Financial Instruments with Off-Balance Sheet Risk
Schedule of changes in the allowance for credit losses for loans with off-balance sheet credit exposures	Changes in the allowance for credit losses for loans with off-balance sheet credit exposures are shown below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Balance, beginning of period ​ $ 2,075 ​ $ 2,366 Transition adjustment CECL accounting standard ​ ​ 3,837 ​ ​ — Expense (reversal of expense) ​ ​ 1,297 ​ ​ (111) Balance, end of period ​ $ 7,209 ​ $ 2,255

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested RSU activity for the three months ended March 31, 2020 (shares in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ Outstanding Fair Value Balance, December 31, 2019 ​ 1,437 ​ $ 22.64 ​ Granted ​ 535 ​ $ 21.91 ​ Vested/Released ​ (179) ​ $ 28.43 ​ Forfeited ​ (6) ​ $ 22.94 Balance, March 31, 2020 ​ 1,787 ​ $ 21.84 ​

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2020
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	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 ratio in effect at the end of the period (dollars in thousands). Based on 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. Actual capital amounts and ratios as of March 31, 2020 reflect PlainsCapital’s and Hilltop’s decision to elect the transition option as recently issued by the federal banking regulatory agencies in March 2020 that permits banking institutions to mitigate the estimated cumulative regulatory capital effects from CECL over a five-year transitionary period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Including ​ To Be Well ​ ​ Actual ​ Conservation Buffer ​ Capitalized ​ Amount Ratio Ratio Ratio March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,263,998 12.06 % 4.0 % 5.0 % Hilltop ​ 1,863,770 13.03 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,263,998 13.33 % 7.0 % 6.5 % Hilltop ​ ​ 1,815,640 15.96 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,263,998 13.33 % 8.5 % 8.0 % Hilltop ​ 1,863,770 16.38 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,352,722 14.26 % 10.5 % 10.0 % Hilltop ​ 1,934,982 17.00 % 10.5 % N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Including ​ To Be Well ​ ​ Actual ​ Conservation Buffer ​ Capitalized ​ Amount Ratio Ratio Ratio December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,236,289 11.61 % 4.0 % 5.0 % Hilltop ​ 1,822,970 12.71 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,236,289 13.45 % 7.0 % 6.5 % Hilltop ​ ​ 1,776,381 16.70 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,236,289 13.45 % 8.5 % 8.0 % Hilltop ​ 1,822,970 17.13 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,299,453 14.13 % 10.5 % 10.0 % Hilltop ​ 1,867,771 17.55 % 10.5 % N/A ​ ​
Schedule of net capital position	At March 31, 2020, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HTS ​ ​ ​ Hilltop ​ Independent ​ ​ Securities Network Net capital ​ $ 245,293 ​ $ 3,179 ​ Less: required net capital ​ ​ 9,502 ​ ​ 250 ​ Excess net capital ​ $ 235,791 ​ $ 2,929 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net capital as a percentage of aggregate debit items ​ ​ 51.6 % ​ ​ ​ Net capital in excess of 5% aggregate debit items ​ $ 221,539 ​ ​ ​ ​ ​

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Increase (decrease) in fair value of derivatives during period: ​ ​ ​ ​ ​ ​ PrimeLending ​ $ 19,876 ​ $ 18,187 Hilltop Broker-Dealers ​ ​ (8,141) ​ ​ (1,807) Bank ​ ​ (135) ​ ​ (61)
Schedule of derivative positions	Derivative positions are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ Notional Estimated Notional Estimated ​ ​ Amount ​ Fair Value ​ Amount ​ Fair Value Derivative instruments (not designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLCs ​ $ 3,063,446 ​ $ 93,412 ​ $ 914,526 ​ $ 18,222 Customer-based written options ​ 31,200 ​ — ​ 31,200 ​ — Customer-based purchased options ​ 31,200 ​ — ​ 31,200 ​ — Commitments to purchase MBSs ​ 5,431,558 ​ 65,666 ​ 3,346,946 ​ 3,321 Commitments to sell MBSs ​ ​ 9,698,119 ​ (133,762) ​ 5,988,198 ​ (5,904) Interest rate swaps ​ ​ 41,455 ​ (192) ​ 15,012 ​ (178) U.S. Treasury bond futures and options (1) ​ ​ 66,100 ​ — ​ 283,500 ​ — Eurodollar futures (1) ​ ​ 18,000 ​ — ​ 934,000 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments (designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as cash flow hedges ​ $ 105,000 ​ $ (3,605) ​ $ 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)	3 Months Ended
	Mar. 31, 2020
Balance Sheet Offsetting
Schedule of the assets subject to an enforceable master netting arrangement or repurchase 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 March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities borrowed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,275,774 ​ $ — ​ $ 1,275,774 ​ $ (1,181,948) ​ $ — ​ $ 93,826 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 9 ​ ​ — ​ ​ 9 ​ ​ (9) ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reverse repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 23,356 ​ ​ — ​ ​ 23,356 ​ ​ (23,050) ​ ​ — ​ ​ 306 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 65,666 ​ — ​ 65,666 ​ (65,666) ​ — ​ — ​ ​ $ 1,364,805 ​ $ — ​ $ 1,364,805 ​ $ (1,270,673) ​ $ — ​ $ 94,132 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
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 March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities loaned: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,167,559 ​ $ — ​ $ 1,167,559 ​ $ (1,075,906) ​ $ — ​ $ 91,653 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 201 ​ — ​ 201 ​ — ​ — ​ 201 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 690,178 ​ — ​ 690,178 ​ (690,178) ​ — ​ — Customer counterparties ​ 8,255 ​ — ​ 8,255 ​ (8,255) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 136,640 ​ (2,878) ​ 133,762 ​ (74,608) ​ — ​ 59,154 ​ ​ $ 2,002,833 ​ $ (2,878) ​ $ 1,999,955 ​ $ (1,848,947) ​ $ — ​ $ 151,008 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
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 March 31, 2020 and December 31, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining Contractual Maturities ​ ​ Overnight and ​ ​ ​ ​ ​ Greater Than ​ ​ ​ March 31, 2020 ​ Continuous ​ Up to 30 Days ​ 30-90 Days ​ 90 Days ​ Total Repurchase agreement transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 16,929 ​ $ — ​ $ — ​ $ — ​ $ 16,929 Asset-backed securities ​ ​ 323,444 ​ ​ 358,060 ​ ​ — ​ ​ — ​ ​ 681,504 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities lending transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate securities ​ ​ 113 ​ ​ — ​ ​ — ​ ​ — ​ ​ 113 Equity securities ​ ​ 1,167,446 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,167,446 Total ​ $ 1,507,932 ​ $ 358,060 ​ $ — ​ $ — ​ $ 1,865,992 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above ​ ​ ​ ​ $ 1,865,992 Amount related to agreements not included in offsetting disclosure above ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ —

Broker-Dealer and Clearing Or_2

Broker-Dealer and Clearing Organization Receivables and Payables (Tables)	3 Months Ended
	Mar. 31, 2020
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Receivables: ​ ​ ​ ​ ​ ​ ​ Securities borrowed ​ $ 1,275,774 ​ $ 1,634,782 ​ Securities failed to deliver ​ 66,342 ​ 18,726 ​ Trades in process of settlement ​ 485,330 ​ 104,922 ​ Other ​ 11,343 ​ 21,850 ​ ​ ​ $ 1,838,789 ​ $ 1,780,280 ​ Payables: ​ ​ ​ ​ ​ ​ ​ Securities loaned ​ $ 1,167,559 ​ $ 1,555,964 ​ Correspondents ​ 23,376 ​ 37,036 ​ Securities failed to receive ​ 65,407 ​ 8,568 ​ Other ​ 2,839 ​ 3,950 ​ ​ ​ $ 1,259,181 ​ $ 1,605,518 ​

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment and Related Information
Schedule of information about the segment revenues, operating results, goodwill, and assets of entity's reportable segments	The following tables present certain information about reportable business segment revenues, operating results, goodwill and assets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Three Months Ended March 31, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 93,923 ​ $ 13,173 ​ $ 368 ​ $ — ​ $ (1,656) ​ $ 4,528 ​ $ 110,336 ​ Provision for credit losses ​ 34,275 ​ ​ 274 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 34,549 ​ Noninterest income ​ 8,771 ​ ​ 86,209 ​ ​ 178,968 ​ ​ — ​ ​ 2,309 ​ ​ (4,544) ​ 271,713 ​ Noninterest expense ​ 56,967 ​ 80,939 ​ 139,552 ​ ​ — ​ ​ 4,853 ​ ​ (410) ​ 281,901 ​ Income (loss) before taxes from continuing operations ​ ​ 11,452 ​ ​ 18,169 ​ ​ 39,784 ​ ​ — ​ ​ (4,200) ​ ​ 394 ​ ​ 65,599 ​ Income before taxes from discontinued operations ​ ​ — ​ ​ — ​ ​ — ​ ​ 4,014 ​ ​ — ​ ​ — ​ ​ 4,014 ​ ​ ​ $ 11,452 ​ $ 18,169 ​ $ 39,784 ​ $ 4,014 ​ $ (4,200) ​ $ 394 ​ $ 69,613 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Three Months Ended March 31, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 92,690 ​ $ 12,850 ​ $ (467) ​ $ — ​ $ (1,330) ​ $ 4,546 ​ $ 108,289 ​ Provision for (reversal of) credit losses ​ 1,025 ​ ​ (74) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 951 ​ Noninterest income ​ 10,621 ​ ​ 91,307 ​ ​ 118,033 ​ ​ — ​ ​ 538 ​ ​ (4,536) ​ 215,963 ​ Noninterest expense ​ 60,726 ​ 87,807 ​ 114,677 ​ ​ — ​ ​ 15,562 ​ ​ (25) ​ 278,747 ​ Income (loss) before taxes from continuing operations ​ ​ 41,560 ​ ​ 16,424 ​ ​ 2,889 ​ ​ — ​ ​ (16,354) ​ ​ 35 ​ ​ 44,554 ​ Income before taxes from discontinued operations ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,809 ​ ​ — ​ ​ — ​ ​ 6,809 ​ ​ ​ $ 41,560 ​ $ 16,424 ​ $ 2,889 ​ $ 6,809 ​ $ (16,354) ​ $ 35 ​ $ 51,363 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop ​ ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets held for sale ​ $ — ​ $ — ​ $ — ​ $ 249,758 ​ $ — ​ $ — ​ $ 249,758 ​ Total assets ​ $ 11,616,994 ​ $ 3,406,300 ​ $ 2,607,131 ​ $ 249,758 ​ $ 2,448,412 ​ $ (4,622,345) ​ $ 15,706,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets held for sale ​ $ — ​ $ — ​ $ — ​ $ 248,429 ​ $ — ​ $ — ​ $ 248,429 ​ Total assets ​ $ 11,147,344 ​ $ 3,457,068 ​ $ 2,357,415 ​ $ 248,429 ​ $ 2,393,604 ​ $ (4,431,412) ​ $ 15,172,448 ​

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2020
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 46,485 ​ $ 33,426 ​ Income from discontinued operations ​ ​ 3,151 ​ ​ 5,360 ​ Income attributable to Hilltop ​ $ 49,636 ​ $ 38,786 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,509 ​ 93,669 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 0.51 ​ $ 0.36 ​ Income from discontinued operations ​ ​ 0.04 ​ ​ 0.05 ​ ​ ​ $ 0.55 ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 46,485 ​ $ 33,426 ​ Income from discontinued operations ​ ​ 3,151 ​ ​ 5,360 ​ Income attributable to Hilltop ​ $ 49,636 ​ $ 38,786 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,509 ​ 93,669 ​ Effect of potentially dilutive securities ​ 41 ​ — ​ Weighted average shares outstanding - diluted ​ 90,550 ​ 93,669 ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share: ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 0.51 ​ $ 0.36 ​ Income from discontinued operations ​ ​ 0.04 ​ ​ 0.05 ​ ​ ​ $ 0.55 ​ $ 0.41 ​

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Basis of Presentation, Ownership (Details) $ in Millions	Jan. 30, 2020USD ($)	Mar. 31, 2020item
Basis of Presentation
Number of primary business units | item		3
Appraisal on file period to determine if reserve is required on 1-4 family residential loans		2 years
Period Delinquent Consumer Loans Written Off		90 days
PPC
Basis of Presentation
Ownership percentage		100.00%
Securities Holdings
Basis of Presentation
Ownership percentage		100.00%
NLC
Basis of Presentation
Aggregate purchase price, cash | $	$ 150
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%

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Recent Accounting Pronouncements
Retained Earnings (Accumulated Deficit)	$ 676,946	$ 644,860
ASU 2016-13
Recent Accounting Pronouncements
Allowance for credit loss		83,600
ASU 2016-13 | Restatement
Recent Accounting Pronouncements
Retained Earnings (Accumulated Deficit)		$ (5,700)

Discontinued Operations - Balan

Discontinued Operations - Balance Sheets (Details) - USD ($) $ in Thousands	Jan. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Discontinued Operations
Total assets held-for-sale		$ 249,758	$ 248,429
Total liabilities held-for-sale		139,730	140,674
Discontinued Operations, Held-for-sale | NLC
Discontinued Operations
Aggregate purchase price, cash	$ 150,000
Cash and due from banks		58,103	51,333
Available for sale, at fair value		86,101	86,899
Equity, at fair value		15,440	19,841
Total securities		101,541	106,740
Premises and equipment, net		9,058	9,607
Operating lease right-of-use assets		2,674	2,739
Other assets		50,966	50,533
Goodwill		23,988	23,988
Other intangible assets, net		3,428	3,489
Total assets held-for-sale		249,758	248,429
Note payable		27,500	27,500
Operating lease liabilities		2,727	2,783
Other liabilities		109,503	110,391
Total liabilities held-for-sale		$ 139,730	$ 140,674

Discontinued Operations - Opera

Discontinued Operations - Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Discontinued Operations
Income from discontinued operations before income taxes	$ 4,014	$ 6,809
Income from discontinued operations, net of income taxes	3,151	5,360
Discontinued Operations, Held-for-sale | NLC
Discontinued Operations
Securities: Taxable	938	960
Other	67	142
Total interest income	1,005	1,102
Interest expense - notes payable	406	460
Net insurance premiums earned	32,637	33,203
Other	(2,246)	3,302
Total noninterest income	30,391	36,505
Employees' compensation and benefits	2,777	3,202
Occupancy and equipment, net	247	244
Professional services	8,527	8,833
Loss and loss adjustment expenses	12,949	14,926
Other	2,476	3,133
Total noninterest expense	26,976	30,338
Income from discontinued operations before income taxes	4,014	6,809
Income tax expense	863	1,449
Income from discontinued operations, net of income taxes	$ 3,151	$ 5,360

Discontinued Operations - Secur

Discontinued Operations - Securities (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Discontinued Operations
Available-for-sale unrealized gains	$ 28,219		$ 12,702
Available-for-sale unrealized losses	(1,057)		(1,026)
Recognized net gain (loss) on equity securities	(100)	$ (100)
Discontinued Operations, Held-for-sale | NLC
Discontinued Operations
Available-for-sale unrealized gains	3,500		2,500
Available-for-sale unrealized losses	0
Unrealized net (losses) gains from equity securities	(3,300)		1,100
Recognized net gain (loss) on equity securities	(4,400)	$ 1,200
Deposit with various state insurance departments	9,500		$ 9,300
Note payable held for sale	$ 27,500

Discontinued Operations - Insur

Discontinued Operations - Insurance Subsidiaries (Details) - Discontinued Operations, Held-for-sale - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
NLIC
Insurance
Statutory capital and surplus	$ 73,892		$ 70,112
Statutory net income (loss)	6,527	$ 3,417
ASIC
Insurance
Statutory capital and surplus	17,999		$ 19,201
Statutory net income (loss)	$ (185)	$ 417

Discontinued Operations - Reser

Discontinued Operations - Reserve (Details) - Discontinued Operations, Held-for-sale - NLC - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Information regarding of the reserve for unpaid losses and loss adjustment expenses
Balance, beginning of period	$ 15,342	$ 20,552
Less reinsurance recoverables	(1,005)	(3,214)
Net balance, beginning of period	14,337	17,338
Incurred related to:
Current year	11,657	13,993
Prior periods	1,474	935
Total incurred	13,131	14,928
Payments related to:
Current year	(7,377)	(7,029)
Prior periods	(6,329)	(7,152)
Total payments	(13,706)	(14,181)
Net balance, end of period	13,762	18,085
Plus reinsurance recoverables	746	2,506
Balance, end of period	$ 14,508	$ 20,591

Discontinued Operations - Claim

Discontinued Operations - Claims Activity (Details) - Discontinued Operations, Held-for-sale - NLC $ in Thousands	Mar. 31, 2020USD ($)
Incurred losses and allocated loss adjustment expenses, net of reinsurance
Total incurred	$ 245,611
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance
Total paid	233,073
All outstanding reserves prior to 2017, net of reinsurance	466
Reserve for unpaid losses and allocated loss adjustment expenses, net of reinsurance	13,004
2017
Incurred losses and allocated loss adjustment expenses, net of reinsurance
2017	87,899
2018	88,025
2019	87,534
2020	87,568
Total of incurred but not reported reserves plus expected development on reported claims	$ 216
Cumulative Number of Reported Claims	20,174
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance
2017	$ 77,675
2018	86,319
2019	87,203
2020	87,291
2018
Incurred losses and allocated loss adjustment expenses, net of reinsurance
2018	75,217
2019	73,261
2020	73,314
Total of incurred but not reported reserves plus expected development on reported claims	$ 927
Cumulative Number of Reported Claims	14,713
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance
2018	$ 61,922
2019	70,958
2020	72,255
2019
Incurred losses and allocated loss adjustment expenses, net of reinsurance
2019	71,687
2020	73,072
Total of incurred but not reported reserves plus expected development on reported claims	$ 4,009
Cumulative Number of Reported Claims	13,798
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance
2019	$ 55,014
2020	66,150
2020
Incurred losses and allocated loss adjustment expenses, net of reinsurance
2020	11,657
Total of incurred but not reported reserves plus expected development on reported claims	$ 1,565
Cumulative Number of Reported Claims	2,317
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance
2020	$ 7,377

Discontinued Operations - Effec

Discontinued Operations - Effects of Reinsurance (Details) - NLC - Discontinued Operations, Held-for-sale - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Written
Premiums from direct business	$ 29,980	$ 30,790
Reinsurance assumed	2,952	3,129
Reinsurance ceded	(1,353)	(1,725)
Net premiums	31,579	32,194
Earned
Premiums from direct business	30,746	31,737
Reinsurance assumed	3,244	3,191
Reinsurance ceded	(1,353)	(1,725)
Net premiums	32,637	33,203
Effect of reinsurance on incurred losses
Reinsurance Recoverables, Allowance	0
Loss and LAE incurred	12,763	14,985
Reinsurance recoverables	186	(59)
Net loss and LAE incurred	12,949	$ 14,926
Other Assets
Effect of reinsurance on incurred losses
Total reinsurance recoverables	$ 1,500

Discontinued Operations - Cover

Discontinued Operations - Coverage (Details) - Discontinued Operations, Held-for-sale $ in Millions	Jul. 01, 2019	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
NLC | Catastrophic Coverage
Reinsurance activity
Renewal period of reinsurance contract	1 year
Number of layers of protection under reinsurance | item		3
Aggregate coverage in excess of retention for per event retention and sub-catastrophic event			$ 10
Retention amount per event			$ 1
Participation retained (as a percent)		0.00%	37.50%
NLC | Catastrophic Coverage | Maximum
Reinsurance activity
Reinsurance in excess of retention		$ 8
NLC | Catastrophic Coverage | Sub-catastrophic
Reinsurance activity
Retention amount			$ 15
NLC | Catastrophic Coverage | First Layer of Protection
Reinsurance activity
Retention amount		8
Reinsurance in excess of retention		12
NLC | Catastrophic Coverage | Second Layer of Protection
Reinsurance activity
Retention amount		20
Reinsurance in excess of retention		25
NLC | Catastrophic Coverage | Third Layer of Protection
Reinsurance activity
Retention amount		45
Reinsurance in excess of retention		50
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

Fair Value Measurements - FV Op

Fair Value Measurements - FV Option (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value Measurements
Mortgage loans held for sale, fair value	$ 2,090	$ 1,940
Mortgage loans held for sale, unpaid principal balance	$ 2,000	$ 1,880

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial assets:
Trading securities	$ 393,581	$ 689,576
Available for sale, at fair value (amortized cost of $0 and $984,211, respectively)	972,318	911,493
Equity securities	107	166
Financial liabilities:
Securities sold, not yet purchased	22,768	43,817
Recurring
Financial assets:
Trading securities	393,581	689,576
Available for sale, at fair value (amortized cost of $0 and $984,211, respectively)	972,318	911,493
Equity securities	107	166
Loans held for sale	2,089,969	1,935,713
Derivative assets	192,729	33,129
MSR asset	30,299	55,504
Financial liabilities:
Securities sold, not yet purchased	22,768	43,817
Derivative liabilities	171,210	17,140
Recurring | Level 1
Financial assets:
Trading securities	1,485
Equity securities	107	166
Financial liabilities:
Securities sold, not yet purchased	11,333	29,080
Recurring | Level 2
Financial assets:
Trading securities	392,096	689,576
Available for sale, at fair value (amortized cost of $0 and $984,211, respectively)	972,318	911,493
Loans held for sale	2,010,381	1,868,518
Derivative assets	192,729	33,129
Financial liabilities:
Securities sold, not yet purchased	11,435	14,737
Derivative liabilities	171,210	17,140
Recurring | Level 3
Financial assets:
Loans held for sale	79,588	67,195
MSR asset	$ 30,299	$ 55,504

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	$ 122,699	$ 116,566
Purchases/Additions	18,760	17,288
Sales/Reductions	(22,825)	(6,976)
Transfers into Level 3	6,220	1,037
Total gains or losses (realized or unrealized):
Included in Net Income	(14,967)	(8,022)
Asset balance, end of period	109,887	119,893
Loans Held for Sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	67,195	50,464
Purchases/Additions	14,285	15,427
Sales/Reductions	(4,175)	(6,976)
Transfers into Level 3	6,220	1,037
Total gains or losses (realized or unrealized):
Included in Net Income	(3,937)	(2,108)
Asset balance, end of period	79,588	57,844
MSR
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	55,504	66,102
Purchases/Additions	4,475	1,861
Sales/Reductions	(18,650)
Total gains or losses (realized or unrealized):
Included in Net Income	(11,030)	(5,914)
Asset balance, end of period	$ 30,299	$ 62,049

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Mar. 31, 2020item	Dec. 31, 2019itemUSD ($)
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	0.93	0.95
Loans Held for Sale | Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.90	0.92
Loans Held for Sale | Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.94	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	0.1698	13.16
MSR | Discount Rate
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1101	11.14

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Transfers Between Level 1 and Level 2
Transfers of assets from level 1 to level 2	$ 0	$ 0
Transfers of assets from level 2 to level 1	0	0
Transfers of liabilities from level 1 to level 2	0	0
Transfers of liabilities from level 2 to level 1	0	0
Fair Value Option
Net Gains (Losses)	150,486	96,139
Other Noninterest Income	29,424	41,822
Loans Held for Sale
Fair Value Option
Net Gains (Losses)	33,979	(13,324)
Total Changes in Fair Value	33,979	(13,324)
MSR
Fair Value Option
Net Gains (Losses)	(11,030)	(5,914)
Total Changes in Fair Value	$ (11,030)	$ (5,914)

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial assets:
Held to maturity securities	$ 369,614	$ 388,930
Broker-dealer and clearing organization receivables	1,838,789	1,780,280
Financial liabilities:
Broker-dealer and clearing organization payables	1,259,181	1,605,518
Carrying Amount
Financial assets:
Cash and cash equivalents	524,771	434,020
Assets segregated for regulatory purposes	178,805	157,436
Securities purchased under agreements to resell	23,356	59,031
Held to maturity securities	355,110	386,326
Loans held for sale	343,438	170,648
Loans held for investment, net	7,238,511	7,320,264
Broker-dealer and clearing organization receivables	1,838,789	1,780,280
Other assets	73,118	71,040
Financial liabilities:
Deposits	9,947,489	9,032,214
Broker-dealer and clearing organization payables	1,259,181	1,605,518
Short-term borrowings	1,329,948	1,424,010
Debt	311,054	323,281
Other liabilities	6,376	8,340
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	524,771	434,020
Assets segregated for regulatory purposes	178,805	157,436
Securities purchased under agreements to resell	23,356	59,031
Held to maturity securities	369,614	388,930
Loans held for sale	343,438	170,648
Loans held for investment, net	7,352,094	7,567,233
Broker-dealer and clearing organization receivables	1,838,789	1,780,280
Other assets	73,118	71,040
Financial liabilities:
Deposits	9,962,915	9,032,496
Broker-dealer and clearing organization payables	1,259,181	1,605,518
Short-term borrowings	1,329,948	1,424,010
Debt	311,054	323,281
Other liabilities	6,376	8,340
Estimate of Fair Value | Level 1
Financial assets:
Cash and cash equivalents	524,771	434,020
Assets segregated for regulatory purposes	178,805	157,436
Estimate of Fair Value | Level 2
Financial assets:
Securities purchased under agreements to resell	23,356	59,031
Held to maturity securities	369,614	388,930
Loans held for sale	343,438	170,648
Loans held for investment, net	506,250	576,527
Broker-dealer and clearing organization receivables	1,838,789	1,780,280
Other assets	70,544	69,580
Financial liabilities:
Deposits	9,962,915	9,032,496
Broker-dealer and clearing organization payables	1,259,181	1,605,518
Short-term borrowings	1,329,948	1,424,010
Debt	311,054	323,281
Other liabilities	6,376	8,340
Estimate of Fair Value | Level 3
Financial assets:
Loans held for investment, net	6,845,844	6,990,706
Other assets	$ 2,574	$ 1,460

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 19,771	$ 20,376
Upward adjustments	106	101
Impairments and downward adjustments	(789)
Balance, end of year	19,088	$ 20,477
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 34,900		$ 36,600

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of fair value of trading securities
Debt Securities, Trading	$ 393,581	$ 689,576
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	22,768	43,817
US Treasury Securities
Schedule of fair value of trading securities
Debt Securities, Trading	1,485
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading		24,680
Residential Mortgage Backed Securities
Schedule of fair value of trading securities
Debt Securities, Trading	164,899	331,601
Commercial mortgage-backed securities
Schedule of fair value of trading securities
Debt Securities, Trading	2,136	2,145
Collateralized Mortgage Obligations
Schedule of fair value of trading securities
Debt Securities, Trading	80,262	191,154
Corporate debt securities
Schedule of fair value of trading securities
Debt Securities, Trading	28,893	36,973
States and political subdivisions
Schedule of fair value of trading securities
Debt Securities, Trading	103,075	93,117
Unit investment trusts
Schedule of fair value of trading securities
Debt Securities, Trading		3,468
Private-label securitized product
Schedule of fair value of trading securities
Debt Securities, Trading	650	2,992
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 12,181	$ 3,446

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Available for sale
Amortized cost	$ 945,156		$ 899,817
Unrealized Gains	28,219		12,702
Unrealized Losses	(1,057)		(1,026)
Fair Value	972,318		911,493
Held to maturity
Amortized cost	355,110		386,326
Unrealized Gains	14,676		4,354
Unrealized Losses	(172)		(1,750)
Held to maturity, fair value	369,614		388,930
Equity Securities
Equity, at fair value	107		166
Recognized net gain (loss) on equity securities	(100)	$ (100)
Bonds
Available for sale
Amortized cost	88,299		84,590
Unrealized Gains	1,437		1,049
Unrealized Losses			(64)
Fair Value	89,736		85,575
Held to maturity
Amortized cost			24,020
Unrealized Gains			10
Unrealized Losses			(35)
Held to maturity, fair value			23,995
Residential Mortgage Backed Securities
Available for sale
Amortized cost	415,399		430,514
Unrealized Gains	14,435		6,662
Unrealized Losses			(147)
Fair Value	429,834		437,029
Held to maturity
Amortized cost	16,809		17,776
Unrealized Gains	676		295
Held to maturity, fair value	17,485		18,071
Commercial mortgage-backed securities
Available for sale
Amortized cost	11,436		11,488
Unrealized Gains	967		543
Fair Value	12,403		12,031
Held to maturity
Amortized cost	160,113		161,624
Unrealized Gains	10,405		2,810
Unrealized Losses			(655)
Held to maturity, fair value	170,518		163,779
Collateralized Mortgage Obligations
Available for sale
Amortized cost	385,409		333,256
Unrealized Gains	9,634		3,175
Unrealized Losses	(1,057)		(815)
Fair Value	393,986		335,616
Held to maturity
Amortized cost	106,926		113,894
Unrealized Gains	2,260		226
Unrealized Losses	(37)		(904)
Held to maturity, fair value	109,149		113,216
States and political subdivisions
Available for sale
Amortized cost	44,613		39,969
Unrealized Gains	1,746		1,273
Fair Value	46,359		41,242
Held to maturity
Amortized cost	71,262		69,012
Unrealized Gains	1,335		1,013
Unrealized Losses	(135)		(156)
Held to maturity, fair value	$ 72,462		$ 69,869

Securities - AFS in an Unrealiz

Securities - AFS in an Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Number of Securities
Unrealized loss for less than twelve months | item	5	55
Unrealized loss for twelve months or longer | item	15	16
Total | item	20	71
Fair Value
Unrealized loss for less than twelve months	$ 20,751	$ 165,636
Unrealized loss for twelve months or longer	58,090	60,387
Total	78,841	226,023
Unrealized Loss
Unrealized loss for less than twelve months	165	599
Unrealized loss for twelve months or longer	892	427
Total	$ 1,057	$ 1,026
Bonds
Number of Securities
Unrealized loss for less than twelve months | item		2
Total | item		2
Fair Value
Unrealized loss for less than twelve months		$ 24,937
Total		24,937
Unrealized Loss
Unrealized loss for less than twelve months		64
Total		$ 64
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months | item		37
Unrealized loss for twelve months or longer | item		2
Total | item		39
Fair Value
Unrealized loss for less than twelve months		$ 36,187
Unrealized loss for twelve months or longer		13,683
Total		49,870
Unrealized Loss
Unrealized loss for less than twelve months		87
Unrealized loss for twelve months or longer		58
Total		$ 145
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months | item		1
Total | item		1
Fair Value
Unrealized loss for less than twelve months		$ 9,967
Total		9,967
Unrealized Loss
Unrealized loss for less than twelve months		2
Total		$ 2
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months | item	4	15
Unrealized loss for twelve months or longer | item	15	13
Total | item	19	28
Fair Value
Unrealized loss for less than twelve months	$ 20,214	$ 94,545
Unrealized loss for twelve months or longer	58,090	46,217
Total	78,304	140,762
Unrealized Loss
Unrealized loss for less than twelve months	165	446
Unrealized loss for twelve months or longer	892	369
Total	$ 1,057	$ 815
States and political subdivisions
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	$ 537
Unrealized loss for twelve months or longer		$ 487
Total	$ 537	$ 487

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Number of Securities
Unrealized loss for less than twelve months | item	29	52
Unrealized loss for twelve months or longer | item	2	12
Total | item	31	64
Fair Value
Unrealized loss for less than twelve months	$ 25,958	$ 94,175
Unrealized loss for twelve months or longer	604	60,659
Total	26,562	154,834
Unrealized Losses
Unrealized loss for less than twelve months	170	1,102
Unrealized loss for twelve months or longer	2	648
Total	$ 172	$ 1,750
Bonds
Number of Securities
Unrealized loss for less than twelve months | item		2
Total | item		2
Fair Value
Unrealized loss for less than twelve months		$ 9,665
Total		9,665
Unrealized Losses
Unrealized loss for less than twelve months		35
Total		$ 35
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months | item		8
Total | item		8
Fair Value
Unrealized loss for less than twelve months		$ 44,610
Total		44,610
Unrealized Losses
Unrealized loss for less than twelve months		656
Total		$ 656
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months | item	2	4
Unrealized loss for twelve months or longer | item		8
Total | item	2	12
Fair Value
Unrealized loss for less than twelve months	$ 15,488	$ 23,904
Unrealized loss for twelve months or longer		59,560
Total	15,488	83,464
Unrealized Losses
Unrealized loss for less than twelve months	37	287
Unrealized loss for twelve months or longer		617
Total	$ 37	$ 904
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months | item	27	38
Unrealized loss for twelve months or longer | item	2	4
Total | item	29	42
Fair Value
Unrealized loss for less than twelve months	$ 10,470	$ 15,996
Unrealized loss for twelve months or longer	604	1,099
Total	11,074	17,095
Unrealized Losses
Unrealized loss for less than twelve months	133	124
Unrealized loss for twelve months or longer	2	31
Total	$ 135	$ 155

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 2,071
Due after one year through five years	73,668
Due after five years through ten years	35,387
Due after ten years	21,786
Total	132,912
Amortized cost	945,156	$ 899,817
AFS, Fair Value, Rolling Maturity
Due in one year or less	2,090
Due after one year through five years	75,246
Due after five years through ten years	35,914
Due after ten years	22,845
Total	136,095
Fair Value	972,318	911,493
Residential Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	415,399
Amortized cost	415,399	430,514
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	429,834
Fair Value	429,834	437,029
Collateralized Mortgage Obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	385,409
Amortized cost	385,409	333,256
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	393,986
Fair Value	393,986	335,616
Commercial mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	11,436
Amortized cost	11,436	11,488
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	12,403
Fair Value	$ 12,403	$ 12,031

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 453
Due after one year through five years	987
Due after five years through ten years	6,160
Due after ten years	63,662
Total	71,262
Amortized cost	355,110	$ 386,326
HTM, Fair Value, Rolling Maturities
Due in one year or less	456
Due after one year through five years	994
Due after five years through ten years	6,264
Due after ten years	64,748
Total	72,462
Fair Value	369,614	388,930
Residential Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	16,809
Amortized cost	16,809	17,776
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	17,485
Fair Value	17,485	18,071
Collateralized Mortgage Obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	106,926
Amortized cost	106,926	113,894
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	109,149
Fair Value	109,149	113,216
Commercial mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	160,113
Amortized cost	160,113	161,624
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	170,518
Fair Value	$ 170,518	$ 163,779

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Securities
Realized net gains from trading securities portfolio	$ 7	$ 8.1
Realized net gains from other securities	0.2
Carrying amount of securities pledged	555.7		$ 576
Fair value of securities pledged	573		$ 583.6
Available for sale debt securities past due	0
Hilltop Broker-Dealers
Securities
Realized net gains from trading securities portfolio	$ 21.3	$ 25.3

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Loans
Total loans	$ 7,345,250	$ 7,381,400
Allowance for loan losses	(106,739)	(61,136)	$ (58,809)	$ (59,486)
Loans held for investment, net	7,238,511	7,320,264
Commercial Real Estate
Loans
Total loans	3,062,042	3,000,523
Allowance for loan losses	(53,939)	(31,595)	(26,845)	(27,100)
Commercial | Commercial And Industrial
Loans
Total loans	2,101,968	2,025,720
Allowance for loan losses	(38,550)	(17,964)	(21,268)	(21,980)
Construction and land development
Loans
Total loans	955,173	940,564
Allowance for loan losses	(6,360)	(4,878)	(5,908)	(6,061)
1 - 4 family residential
Loans
Total loans	676,630	791,020
Allowance for loan losses	(6,365)	(6,386)	(4,331)	(3,956)
Consumer
Loans
Total loans	43,187	47,046
Allowance for loan losses	(1,203)	(265)	(409)	(267)
Broker-dealer
Loans
Total loans	506,250	576,527
Allowance for loan losses	$ (322)	$ (48)	$ (48)	$ (122)

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)loan	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Non-accrual loans
Non-accrual Loans With Allowance	$ 52,293
Non-accrual Loans With No Allowance	30,491
Non-accrual loans	82,784		$ 31,294
Interest Income Recognized	1,219	$ 400
Commercial Real Estate | Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	9,179
Non-accrual Loans With No Allowance	8,989
Non-accrual loans	18,168		3,813
Interest Income Recognized	$ (97)
Number of PCI loans included in non-accrual | loan	2
Previously categorized PCI loans included in non-accrual	$ 15,300
Commercial Real Estate | Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	1,162
Non-accrual Loans With No Allowance	4,022
Non-accrual loans	5,184		3,495
Interest Income Recognized	16
Commercial | Commercial And Industrial
Non-accrual loans
Non-accrual Loans With Allowance	39,950
Non-accrual Loans With No Allowance	7,171
Non-accrual loans	47,121		15,262
Interest Income Recognized	300
Previously categorized PCI loans included in non-accrual	23,800
Construction and land development
Non-accrual loans
Non-accrual Loans With Allowance	176
Non-accrual Loans With No Allowance	1,226
Non-accrual loans	1,402		1,316
Interest Income Recognized	22
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	1,516
Non-accrual Loans With No Allowance	9,083
Non-accrual loans	10,599		7,382
Interest Income Recognized	983
1 - 4 family residential | Secured by Residential Properties
Non-accrual loans
Non-accrual loans held for sale	4,600		4,800
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	310
Non-accrual loans	310		$ 26
Interest Income Recognized	(5)
Various
Non-accrual loans
Previously categorized PCI loans included in non-accrual	$ 8,000

Loans Held for Investment - TDR

Loans Held for Investment - TDRs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)loan	Mar. 31, 2019loan
TDRs, Non-covered loans
Number of TDR loans granted		0
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due	0	0
AB Note | Minimum | PlainsCapital (the Bank)
TDRs, Non-covered loans
Number of loans into which a single loan may be reconfigured	2
Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted	1
TDR at extension | $	$ 1,089
TDR modifications, in which a payment was at least 30 days past due | $	$ 1,166
Commercial | Commercial And Industrial | Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted	1
TDR at extension | $	$ 1,089
TDR modifications, in which a payment was at least 30 days past due | $	$ 1,166

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	$ 82,322	$ 55,823
Current Loans	7,262,928	7,325,577
Total loans	7,345,250	7,381,400
Accruing Loans Past Due 90 Days or More	144	3
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	46,334	31,935
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	23,343	7,918
Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	12,645	15,970
Prime Lending | U.S. Government Agencies
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Accruing Loans Past Due 90 Days or More	101,200	102,700
Unpaid principal balance loans past due 90 days or more	102,400	104,000
Commercial Real Estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	3,062,042	3,000,523
Commercial Real Estate | Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	23,459	6,852
Current Loans	1,721,265	1,702,500
Total loans	1,744,724	1,709,352
Commercial Real Estate | 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	6,488	4,062
Commercial Real Estate | 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	16,772
Commercial Real Estate | 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	199	2,790
Commercial Real Estate | Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	18,237	5,958
Current Loans	1,299,081	1,285,213
Total loans	1,317,318	1,291,171
Commercial Real Estate | Owner occupied | Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	12,152	1,813
Commercial Real Estate | Owner occupied | Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	2,685	880
Commercial Real Estate | 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	3,400	3,265
Commercial | Commercial And Industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	10,633	11,097
Current Loans	2,091,335	2,014,623
Total loans	2,101,968	2,025,720
Accruing Loans Past Due 90 Days or More	47	3
Commercial | 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	6,740	5,967
Commercial | 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	1,125	1,735
Commercial | 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	2,768	3,395
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	4,056	9,407
Current Loans	951,117	931,157
Total loans	955,173	940,564
Accruing Loans Past Due 90 Days or More	97
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	3,955	7,580
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	3	1,827
Construction and land development | Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	98
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	25,328	22,020
Current Loans	651,302	769,000
Total loans	676,630	791,020
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	16,832	12,058
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	2,600	3,442
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	5,896	6,520
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	609	489
Current Loans	42,578	46,557
Total loans	43,187	47,046
Consumer | Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	167	455
Consumer | Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	158	34
Consumer | Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	284
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Current Loans	506,250	576,527
Total loans	$ 506,250	$ 576,527

Loans Held for Investment - Int

Loans Held for Investment - Internal Risk Grades (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Internal risk grades of non-covered loans
2020	$ 474,016
2019	1,484,836
2018	1,203,427
2017	756,104
2016	655,723
2015 and Prior	767,491
Financing Receivable, Revolving	842,474
Total loans with credit quality measures	6,184,071
Total loans	7,345,250	$ 7,381,400
Commercial Real Estate
Internal risk grades of non-covered loans
Total loans	3,062,042	3,000,523
Commercial Real Estate | Non-owner occupied
Internal risk grades of non-covered loans
Total loans	1,744,724	1,709,352
Commercial Real Estate | Non-owner occupied | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	2,702
2019	42,015
2018	9,354
2017	14,536
2016	15,164
2015 and Prior	19,926
Financing Receivable, Revolving	402
Total loans with credit quality measures	104,099
Commercial Real Estate | Non-owner occupied | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	45,963
2019	186,755
2018	150,078
2017	149,826
2016	148,241
2015 and Prior	126,033
Financing Receivable, Revolving	25,449
Total loans with credit quality measures	832,345
Commercial Real Estate | Non-owner occupied | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	48,289
2019	117,730
2018	169,739
2017	126,886
2016	174,480
2015 and Prior	82,043
Financing Receivable, Revolving	1,145
Total loans with credit quality measures	720,312
Commercial Real Estate | Non-owner occupied | Internal Grade 13
Internal risk grades of non-covered loans
2019	1,189
2018	1,784
2017	4,317
2016	8,387
2015 and Prior	54,123
Total loans with credit quality measures	69,800
Commercial Real Estate | Non-owner occupied | Internal Grade 14
Internal risk grades of non-covered loans
2019	15,330
2017	882
2015 and Prior	1,956
Total loans with credit quality measures	18,168
Commercial Real Estate | Owner occupied
Internal risk grades of non-covered loans
Total loans	1,317,318	1,291,171
Commercial Real Estate | Owner occupied | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	19,261
2019	35,707
2018	11,362
2017	27,494
2016	23,433
2015 and Prior	48,577
Financing Receivable, Revolving	2
Total loans with credit quality measures	165,836
Commercial Real Estate | Owner occupied | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	73,334
2019	153,997
2018	219,995
2017	91,386
2016	75,445
2015 and Prior	124,679
Financing Receivable, Revolving	31,734
Total loans with credit quality measures	770,570
Commercial Real Estate | Owner occupied | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	6,627
2019	76,220
2018	64,306
2017	92,640
2016	33,586
2015 and Prior	43,919
Financing Receivable, Revolving	15,103
Total loans with credit quality measures	332,401
Commercial Real Estate | Owner occupied | Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2015 and Prior	48
Total loans with credit quality measures	48
Commercial Real Estate | Owner occupied | Internal Grade 13
Internal risk grades of non-covered loans
2020	3,466
2019	2,436
2018	3,980
2017	11,661
2016	9,105
2015 and Prior	12,631
Total loans with credit quality measures	43,279
Commercial Real Estate | Owner occupied | Internal Grade 14
Internal risk grades of non-covered loans
2020	555
2018	81
2017	2,528
2016	1,041
2015 and Prior	979
Total loans with credit quality measures	5,184
Commercial | Commercial And Industrial
Internal risk grades of non-covered loans
Collateral maintenance	654,929
Total loans	2,101,968	2,025,720
Commercial | Commercial And Industrial | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	20,004
2019	14,683
2018	7,762
2017	6,239
2016	4,817
2015 and Prior	881
Financing Receivable, Revolving	92,106
Total loans with credit quality measures	146,492
Commercial | Commercial And Industrial | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	36,169
2019	119,001
2018	77,750
2017	58,562
2016	25,450
2015 and Prior	19,585
Financing Receivable, Revolving	374,251
Total loans with credit quality measures	710,768
Commercial | Commercial And Industrial | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	40,361
2019	98,826
2018	64,810
2017	26,805
2016	41,982
2015 and Prior	3,828
Financing Receivable, Revolving	200,425
Total loans with credit quality measures	477,037
Commercial | Commercial And Industrial | Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2020	844
2019	1,372
2018	2,028
2017	492
2016	5,246
Financing Receivable, Revolving	13,306
Total loans with credit quality measures	23,288
Commercial | Commercial And Industrial | Internal Grade 13
Internal risk grades of non-covered loans
2020	28
2019	3,411
2018	8,785
2017	2,642
2016	6,596
2015 and Prior	4,396
Financing Receivable, Revolving	16,475
Total loans with credit quality measures	42,333
Commercial | Commercial And Industrial | Internal Grade 14
Internal risk grades of non-covered loans
2020	30,145
2019	2,445
2018	1,506
2017	8,225
2016	231
2015 and Prior	379
Financing Receivable, Revolving	4,190
Total loans with credit quality measures	47,121
Construction and land development
Internal risk grades of non-covered loans
Total loans	955,173	940,564
Construction and land development | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2019	4,394
2018	1,474
Total loans with credit quality measures	5,868
Construction and land development | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	3,171
2019	10,617
2018	5,184
Total loans with credit quality measures	18,972
Construction and land development | Other
Internal risk grades of non-covered loans
2020	144
Total loans with credit quality measures	144
Construction and land development | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	4,717
2019	21,250
2018	23,557
2017	282
2016	1,169
2015 and Prior	337
Financing Receivable, Revolving	1,956
Total loans with credit quality measures	53,268
Construction and land development | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	80,147
2019	237,466
2018	106,525
2017	38,310
2016	7,760
2015 and Prior	5,038
Financing Receivable, Revolving	41,525
Total loans with credit quality measures	516,771
Construction and land development | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	24,257
2019	164,164
2018	133,025
2017	22,711
2016	4,431
2015 and Prior	2,119
Financing Receivable, Revolving	6,899
Total loans with credit quality measures	357,606
Construction and land development | Internal Grade 13
Internal risk grades of non-covered loans
2019	1,135
2015 and Prior	7
Total loans with credit quality measures	1,142
Construction and land development | Internal Grade 14
Internal risk grades of non-covered loans
2019	458
2016	768
2015 and Prior	176
Total loans with credit quality measures	1,402
1 - 4 family residential
Internal risk grades of non-covered loans
Total loans	676,630	791,020
1 - 4 family residential | FICO Score, Less than 620
Internal risk grades of non-covered loans
2019	738
2018	3,724
2017	231
2016	1,110
2015 and Prior	40,354
Financing Receivable, Revolving	545
Total loans with credit quality measures	46,702
1 - 4 family residential | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	1,252
2019	11,793
2018	15,878
2017	10,850
2016	13,739
2015 and Prior	48,114
Financing Receivable, Revolving	1,585
Total loans with credit quality measures	103,211
1 - 4 family residential | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	16,389
2019	84,807
2018	105,533
2017	54,505
2016	50,839
2015 and Prior	106,744
Financing Receivable, Revolving	4,521
Total loans with credit quality measures	423,338
1 - 4 family residential | Substandard non-accrual
Internal risk grades of non-covered loans
2017	101
2016	439
2015 and Prior	10,059
Total loans with credit quality measures	10,599
1 - 4 family residential | Other
Internal risk grades of non-covered loans
2020	8,660
2019	58,480
2018	9,557
2017	2,238
2016	1,466
2015 and Prior	10,152
Financing Receivable, Revolving	2,227
Total loans with credit quality measures	92,780
Consumer
Internal risk grades of non-covered loans
Total loans	43,187	47,046
Consumer | FICO Score, Less than 620
Internal risk grades of non-covered loans
2020	318
2019	1,830
2018	312
2017	193
2016	59
2015 and Prior	100
Financing Receivable, Revolving	373
Total loans with credit quality measures	3,185
Consumer | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	2,145
2019	5,082
2018	971
2017	919
2016	183
2015 and Prior	152
Financing Receivable, Revolving	2,686
Total loans with credit quality measures	12,138
Consumer | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	2,722
2019	8,327
2018	3,694
2017	542
2016	500
2015 and Prior	131
Financing Receivable, Revolving	5,062
Total loans with credit quality measures	20,978
Consumer | Substandard non-accrual
Internal risk grades of non-covered loans
2017	35
2015 and Prior	25
Financing Receivable, Revolving	250
Total loans with credit quality measures	310
Consumer | Other
Internal risk grades of non-covered loans
2020	2,346
2019	3,178
2018	673
2017	66
2016	56
Financing Receivable, Revolving	257
Total loans with credit quality measures	6,576
Broker-dealer
Internal risk grades of non-covered loans
Collateral maintenance	506,250
Total loans	$ 506,250	$ 576,527

Loans Held for Investment - Cre

Loans Held for Investment - Credit Loss Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018
Allowance for loan losses
Allowance for credit losses	$ 61,136	$ 106,739	$ 58,809	$ 59,486
Transition Adjustment CECL		12,562
Increase in allowance on individually evaluated loans		$ 17,600
ASU 2016-13 | Restatement
Allowance for loan losses
Allowance for credit losses	73,700
Transition Adjustment CECL	12,600
Allowance in credit loss from expansion of horizon to life of loan	18,900
Non-credit component with allowance of previous categorized PCI loans	$ 6,300

Loans Held for Investment - All

Loans Held for Investment - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Changes in the allowance for loan losses
Balance, beginning of the year	$ 61,136	$ 59,486
Transition Adjustment CECL	12,562
Provision (reversal of) for credit losses	34,549	951
Loans charged off	(2,035)	(2,300)
Recoveries on charged off loans	527	672
Balance, end of the year	106,739	58,809
Commercial Real Estate
Changes in the allowance for loan losses
Balance, beginning of the year	31,595	27,100
Transition Adjustment CECL	8,073
Provision (reversal of) for credit losses	14,475	(255)
Loans charged off	(214)
Recoveries on charged off loans	10
Balance, end of the year	53,939	26,845
Commercial | Commercial And Industrial
Changes in the allowance for loan losses
Balance, beginning of the year	17,964	21,980
Transition Adjustment CECL	3,193
Provision (reversal of) for credit losses	18,446	458
Loans charged off	(1,440)	(1,818)
Recoveries on charged off loans	387	648
Balance, end of the year	38,550	21,268
Construction and land development
Changes in the allowance for loan losses
Balance, beginning of the year	4,878	6,061
Transition Adjustment CECL	577
Provision (reversal of) for credit losses	907	(153)
Loans charged off	(2)
Balance, end of the year	6,360	5,908
1 - 4 family residential
Changes in the allowance for loan losses
Balance, beginning of the year	6,386	3,956
Transition Adjustment CECL	(29)
Provision (reversal of) for credit losses	201	389
Loans charged off	(203)	(28)
Recoveries on charged off loans	10	14
Balance, end of the year	6,365	4,331
Consumer
Changes in the allowance for loan losses
Balance, beginning of the year	265	267
Transition Adjustment CECL	748
Provision (reversal of) for credit losses	246	586
Loans charged off	(176)	(454)
Recoveries on charged off loans	120	10
Balance, end of the year	1,203	409
Broker-dealer
Changes in the allowance for loan losses
Balance, beginning of the year	48	122
Provision (reversal of) for credit losses	274	(74)
Balance, end of the year	$ 322	$ 48

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - MSR - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Change in fair value of mortgage servicing rights
Balance, beginning of year	$ 55,504	$ 66,102	$ 66,102
Additions	4,475	1,861
Sales	(18,650)
Changes in fair value: Due to changes in model inputs or assumptions	(9,594)	(5,033)
Changes in fair value: Due to customer payoffs	(1,436)	(881)
Balance, end of year	30,299	$ 62,049	55,504
Mortgage loans serviced for others	$ 3,500,731		$ 4,948,441
MSR asset as a percentage of serviced mortgage loans	0.87%		1.12%
Key Assumptions
Weighted average constant prepayment rate (as a percent)	16.98%		13.16%
Weighted average discount rate (as a percent)	11.01%		11.14%
Weighted average life (in years)	4 years 9 months 18 days		6 years

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - MSR - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (2,152)		$ (3,072)
Constant prepayment rate: Impact of 20% adverse change	(4,122)		(5,943)
Discount rate: Impact of 10% adverse change	(1,014)		(2,094)
Discount rate: Impact of 20% adverse change	(1,959)		$ (4,028)
Contractually specified servicing fees, late fees and ancillary fees	$ 5,900	$ 6,300

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deposits
Noninterest-bearing demand	$ 2,865,192	$ 2,769,556
Interest-bearing:
Demand	1,893,125	1,881,614
Brokered - demand	475,080
Money market	2,823,663	2,641,116
Brokered - money market	30,006	5,000
Savings	198,319	199,076
Time	1,386,214	1,505,375
Brokered - time	275,890	30,477
Total deposits	$ 9,947,489	$ 9,032,214

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)item
Short-term borrowings
Short-term borrowings	$ 1,329,948		$ 1,424,010
Hilltop Broker-Dealers
Short-term borrowings
Weighted average interest rate (as a percent)	1.05%		2.52%
Federal Funds Purchased.
Short-term borrowings
Short-term borrowings	$ 199,095		$ 81,625
Securities Sold under Agreements to Repurchase
Short-term borrowings
Short-term borrowings	698,433		612,125
FHLB notes
Short-term borrowings
Short-term borrowings	150,000		$ 600,000
Average balance during the year	$ 153,736	$ 4,167
Average interest rate during the year	1.63%	2.65%
Average interest rate at end of year (as a percent)	0.50%		1.56%
FHLB notes | Maximum
Short-term borrowings
Maturity term of debt	365 days
Short Term Bank Loans.
Short-term borrowings
Short-term borrowings	$ 250,500		$ 111,000
Commercial paper
Short-term borrowings
Short-term borrowings	$ 31,920		$ 19,260
Number of commercial paper programs initiated | item			2
Weighted average maturity term	35 days
Weighted average interest rate (as a percent)	1.50%
Debt instrument, collateral	$ 36,300
Commercial paper | Minimum
Short-term borrowings
Maturity term of debt			14 days
Commercial paper | Maximum
Short-term borrowings
Maturity term of debt			270 days
Series 2019-1 CP Notes
Short-term borrowings
Maximum borrowing capacity			$ 300,000
Series 2019-2 CP Notes
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	$ 732,954	$ 654,117
Average interest rate during the year	1.78%	2.63%
Average interest rate at end of year (as a percent)	1.31%		1.97%
Securities underlying the agreements at end of period: Carrying value	$ 705,544		$ 612,515
Securities underlying the agreements at end of period: Estimated fair value	$ 753,129		$ 661,023

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument
Notes payable	$ 244,042	$ 256,269
Senior Notes due April 2025
Debt Instrument
Notes payable	148,809	148,768
Unamortized discount	1,191	1,232
FHLB notes
Debt Instrument
Notes payable	28,514	28,848
Unamortized premium	131	146
Ventures Management lines of credit
Debt Instrument
Notes payable	$ 66,719	$ 78,653

Lease - Narrative (Details)

Lease - Narrative (Details)	3 Months Ended
	Mar. 31, 2020
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) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(4,326)	(4,178)
Premises and equipment, net	$ 3,454	$ 3,602
Financial position	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet

Lease - Components of lease cos

Lease - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Components of operating lease costs
Operating lease cost	$ 10,630	$ 10,531
Less operating lease and sublease income	(618)	(388)
Net operating lease cost	10,012	10,143
Amortization of ROU assets	147	147
Interest on lease liabilities	144	152
Total finance lease cost	$ 291	$ 299

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases
Operating cash flows from operating leases	$ 9,951	$ 8,220
Operating cash flows from finance leases	144	152
Financing cash flows from finance leases	155	144
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 4,049	$ 3,591

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Mar. 31, 2020
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 10 months 24 days
Finance - Weighted Average Remaining Lease Term (Years)	6 years 3 months 18 days
Operating - Weighted Average Discount Rate	5.19%
Finance - Weighted Average Discount Rate	4.79%

Lease - Lease maturities - ASC

Lease - Lease maturities - ASC 842 (Details) $ in Thousands	Mar. 31, 2020USD ($)
Operating leases maturities
Minimum lease payments associated with discontinued operations	$ 3,500
2020	26,439
2021	30,275
2022	24,261
2023	19,415
2024	12,740
Thereafter	35,810
Total minimum lease payments	148,940
Less amount representing interest	(22,090)
Lease liabilities	126,850
Finance Leases maturities:
2020	899
2021	1,212
2022	1,241
2023	1,280
2024	1,163
Thereafter	2,297
Total minimum lease payments	8,092
Less amount representing interest	(2,751)
Lease liabilities	$ 5,341

Lease - Operating leases that h

Lease - Operating leases that have not yet commenced (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Leases
Additional operating leases that have not yet commenced	$ 1,200
Aggregate remaining lease obligation	$ 148,940
Minimum
Leases
Expected to commence	2 years
Maximum
Leases
Expected to commence	5 years
Related party
Leases
Minimum annual lease payment	$ 500
Aggregate remaining lease obligation	$ 4,200

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Taxes
Effective income tax rate (as a percent)	23.10%	22.80%

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019
Representation and Warranty Claims
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year	$ 32,144	$ 33,784
Claims made	6,071	3,182
Claims resolved with no payment	(984)	(5,687)
Repurchases	(2,330)	(1,167)
Indemnification payments	(122)
Balance, end of year	34,779	30,112
Reserve for Indemnification Liability:
Total	34,779	30,112	$ 34,779	$ 32,144
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses	700	500
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year	11,776	10,701
Additions for new sales	725	489
Repurchases	(271)	(82)
Early payment defaults	(39)	(142)
Indemnification payments	(43)	(3)
Change in reserves for loans sold in prior years		(242)
Balance, end of year	12,148	10,721
Reserve for Indemnification Liability:
Specific claims			1,186	1,071
Incurred but not reported claims			10,962	10,705
Total	$ 11,776	$ 10,721	$ 12,148	$ 11,776

Financial Instruments with Of_3

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period	$ 2,075	$ 2,366
Transition adjustment CECL accounting standard	3,837
Expense (reversal of expense)	1,297	(111)
Balance, end of period	7,209	$ 2,255
Unused commitments to extend credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	1,900,000
Standby letters of credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 89,500

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - 2012 Plan - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock based compensation
Number of awards approved for grant (in shares)	4,000,000
Common stock remaining available for issuance (in shares)	17,229
Compensation expense	$ 3.8	$ 2.5
Board of Directors
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	10,291	7,958

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2012 Plan - RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Number of shares outstanding
Balance at the beginning of the period ( in shares) | shares	1,437
Granted (in shares) | shares	535
Vested/Released (in shares) | shares	(179)
Forfeited (in shares) | shares	(6)
Balance at the end of the period ( in shares) | shares	1,787
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 22.64
Grant date fair value (in dollars per share) | $ / shares	21.91
Vested/Released (in dollars per share) | $ / shares	28.43
Forfeited (in dollars per share) | $ / shares	22.94
Balance at the end of the period (in dollars per share) | $ / shares	$ 21.84

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2012 Plan - RSUs $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)shares
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)	21,057
Vested RSUs which require deferral of share settlement and statutory tax obligations	5,482
Number of shares awarded (in shares)	535,000
Number of awards subject to time-based vesting (in shares)	1,497,394
Number of awards vesting upon achievement of performance goals (in shares)	289,493
Performance period	3 years
Vesting period	3 years
Unrecognized compensation expense | $	$ 25.2
Weighted average period for unrecognized compensation expense (in years)	1 year 10 months 17 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	520,510
Number of awards subject to time-based vesting (in shares)	398,278
Number of awards vesting upon achievement of performance goals (in shares)	122,232
Performance period	3 years
Vesting period	3 years

Regulatory Matters - Minimum Ca

Regulatory Matters - Minimum Capital Requirements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Regulatory matters
Regulatory capital effects from CECL transitionary period	5 years
PlainsCapital (the Bank)
Tier 1 capital (to average assets)
Actual Amount	$ 1,263,998	$ 1,236,289
Actual Ratio (as a percent)	12.06%	11.61%
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	$ 1,263,998	$ 1,236,289
Actual Ratio (as a percent)	13.33%	13.45%
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	$ 1,263,998	$ 1,236,289
Actual Ratio (as a percent)	13.33%	13.45%
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	$ 1,352,722	$ 1,299,453
Actual Ratio (as a percent)	14.26%	14.13%
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	$ 1,863,770	$ 1,822,970
Actual Ratio (as a percent)	13.03%	12.71%
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	$ 1,815,640	$ 1,776,381
Actual Ratio (as a percent)	15.96%	16.70%
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	$ 1,863,770	$ 1,822,970
Actual Ratio (as a percent)	16.38%	17.13%
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	$ 1,934,982	$ 1,867,771
Actual Ratio (as a percent)	17.00%	17.55%
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) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 178,805	$ 157,436	$ 156,851
Hilltop Securities
Net Capital
Net capital	245,293
Less required net capital	9,502
Excess net capital	$ 235,791
Net capital as a percentage of aggregate debit items	51.60%
Net capital in excess of 5% aggregate debt items	$ 221,539
HTS Independent Network
Net Capital
Net capital	3,179
Less required net capital	250
Excess net capital	2,929
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 178,800	$ 157,400

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 30, 2020	Mar. 31, 2020	Mar. 31, 2019	Jan. 31, 2020
Stockholders' Equity
Cash dividends declared per common share	$ 0.09	$ 0.09	$ 0.08
Cash dividends paid		$ 8,200	$ 7,500
Repurchase common stock authorized amount				$ 75,000
Payments to repurchase shares		$ 14,957
Repurchase of common stock (in shares)		700,901
Average price (per share)		$ 21.32

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Not designated as hedges | Prime Lending
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	$ 19,876	$ 18,187
Not designated as hedges | Hilltop Broker-Dealers
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	(8,141)	(1,807)
Not designated as hedges | PlainsCapital (the Bank)
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	(135)	$ (61)
IRLCs | Not designated as hedges
Derivative financial instruments
Notional Amount	3,063,446		$ 914,526
Estimated Fair Value	93,412		18,222
Customer-based written options | Not designated as hedges
Derivative financial instruments
Notional Amount	31,200		31,200
Customer-based purchased options | Not designated as hedges
Derivative financial instruments
Notional Amount	31,200		31,200
Commitments to Purchase MBSs | Not designated as hedges
Derivative financial instruments
Notional Amount	5,431,558		3,346,946
Estimated Fair Value	65,666		3,321
Commitments to Sell MBSs | Not designated as hedges
Derivative financial instruments
Notional Amount	9,698,119		5,988,198
Estimated Fair Value	(133,762)		(5,904)
Commitments to Sell MBSs | Not designated as hedges | Prime Lending
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	100,700		4,500
Interest rate swaps | Not designated as hedges
Derivative financial instruments
Notional Amount	41,455		15,012
Estimated Fair Value	(192)		(178)
Interest rate swaps | Cash Flow Hedging | Designated as hedges
Derivative financial instruments
Notional Amount	105,000		50,000
Estimated Fair Value	(3,605)		528
U.S. Treasury bond futures and options | Not designated as hedges
Derivative financial instruments
Notional Amount	66,100		283,500
Eurodollar futures | Not designated as hedges
Derivative financial instruments
Notional Amount	18,000		934,000
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	$ 1,000		$ 3,700

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 23,356	$ 59,031
Total
Gross Amounts of Recognized Assets	1,364,805	1,697,453
Net Amounts of Assets Presented in the Balance Sheet	1,364,805	1,697,453
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,270,673)	(1,649,079)
Net Amount	94,132	48,374
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,275,774	1,634,782
Net Amounts of Assets Presented in the Balance Sheet	1,275,774	1,634,782
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,181,948)	(1,586,820)
Net Amount	93,826	47,962
Interest rate swaps | Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	9
Net Amounts of Assets Presented in the Balance Sheet	9
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(9)
Reverse repurchase agreements | Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	23,356	59,031
Net Amounts of Assets Presented in the Balance Sheet	23,356	59,031
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(23,050)	(58,619)
Net Amount	306	412
Forward MBS Derivatives | Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	65,666	3,640
Net Amounts of Assets Presented in the Balance Sheet	65,666	3,640
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(65,666)	(3,640)
Net Amounts of Assets Presented in the Balance Sheet	$ 0	$ 0

Balance Sheet Offsetting - Liab

Balance Sheet Offsetting - Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Total
Gross Amounts of Recognized Liabilities	$ 2,002,833	$ 2,175,157
Gross Amounts Offset in the Balance Sheet	(2,878)	(667)
Net Amounts of Liabilities Presented in the Balance Sheet	1,999,955	2,174,490
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,848,947)	(2,124,554)
Net Amount	151,008	49,936
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,167,559	1,555,964
Net Amounts of Liabilities Presented in the Balance Sheets	1,167,559	1,555,964
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,075,906)	(1,509,933)
Net Amount	91,653	46,031
Institutional Counterparties | Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities	201	178
Net Amounts of Liabilities Presented in the Balance Sheet	201	178
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(112)
Net Amount	201	66
Institutional Counterparties | Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	690,178	586,651
Net Amounts of Liabilities Presented in the Balance Sheet	690,178	586,651
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(690,178)	(586,651)
Net Amount	0	0
Institutional Counterparties | Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	136,640	6,890
Gross Amounts Offset in the Balance Sheet	(2,878)	(667)
Net Amounts of Liabilities Presented in the Balance Sheet	133,762	6,223
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(74,608)	(2,384)
Net Amount	59,154	3,839
Customer Counterparties | Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	8,255	25,474
Net Amounts of Liabilities Presented in the Balance Sheet	8,255	25,474
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(8,255)	(25,474)
Net Amount	$ 0	$ 0

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Number of repurchase-to-maturity transactions outstanding | item	0	0
Total borrowings	$ 1,865,992	$ 2,168,089
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 1,865,992	2,168,089
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	30 days
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	$ 1,507,932	1,859,310
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	358,060	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	16,929	45,950
US Treasury and agency securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	16,929	45,950
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	681,504	566,175
Assets-backed securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	323,444	257,396
Assets-backed securities | Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	358,060	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	113	120
Corporate debt securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	113	120
Equity Securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	1,167,446	1,555,844
Equity Securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,167,446	$ 1,555,844

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Receivables:
Securities borrowed	$ 1,275,774	$ 1,634,782
Securities failed to deliver	66,342	18,726
Trades in process of settlement	485,330	104,922
Other	11,343	21,850
Total receivables	1,838,789	1,780,280
Payables:
Securities loaned	1,167,559	1,555,964
Correspondents	23,376	37,036
Securities failed to receive	65,407	8,568
Other	2,839	3,950
Total Payables	$ 1,259,181	$ 1,605,518

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Information about the revenues, operating results, goodwill and assets
Number of reportable segments | segment	4
Net interest income (expense)	$ 110,336	$ 108,289
Provision (reversal of) for credit losses	34,549	951
Noninterest income	271,713	215,963
Noninterest expense	281,901	278,747
Income from continuing operations before income taxes	65,599	44,554
Income before taxes from discontinued operations	4,014	6,809
Income before income taxes	69,613	51,363
Goodwill	267,447		$ 267,447
Assets held for sale	249,758		248,429
Total assets	15,706,250		15,172,448
Operating segment | Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	93,923	92,690
Provision (reversal of) for credit losses	34,275	1,025
Noninterest income	8,771	10,621
Noninterest expense	56,967	60,726
Income from continuing operations before income taxes	11,452	41,560
Income before income taxes	11,452	41,560
Goodwill	247,368		247,368
Total assets	11,616,994		11,147,344
Operating segment | Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	13,173	12,850
Provision (reversal of) for credit losses	274	(74)
Noninterest income	86,209	91,307
Noninterest expense	80,939	87,807
Income from continuing operations before income taxes	18,169	16,424
Income before income taxes	18,169	16,424
Goodwill	7,008		7,008
Total assets	3,406,300		3,457,068
Operating segment | Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	368	(467)
Noninterest income	178,968	118,033
Noninterest expense	139,552	114,677
Income from continuing operations before income taxes	39,784	2,889
Income before income taxes	39,784	2,889
Goodwill	13,071		13,071
Total assets	2,607,131		2,357,415
Operating segment | Insurance Segment
Information about the revenues, operating results, goodwill and assets
Income before taxes from discontinued operations	4,014	6,809
Income before income taxes	4,014	6,809
Assets held for sale	249,758		248,429
Total assets	249,758		248,429
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(1,656)	(1,330)
Noninterest income	2,309	538
Noninterest expense	4,853	15,562
Income from continuing operations before income taxes	(4,200)	(16,354)
Income before income taxes	(4,200)	(16,354)
Total assets	2,448,412		2,393,604
All Other and Eliminations.
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	4,528	4,546
Noninterest income	(4,544)	(4,536)
Noninterest expense	(410)	(25)
Income from continuing operations before income taxes	394	35
Income before income taxes	394	$ 35
Total assets	$ (4,622,345)		$ (4,431,412)

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Basic earnings per share:
Participating securities	0	0
Income from continuing operations	$ 46,485	$ 33,426
Income from discontinued operations	3,151	5,360
Income attributable to Hilltop	$ 49,636	$ 38,786
Weighted average shares outstanding - basic	90,509	93,669
Income from continuing operations (in dollars per share)	$ 0.51	$ 0.36
Income from discontinued operations (in dollars per share)	0.04	0.05
Basic earnings per common share (in dollars per share)	$ 0.55	$ 0.41
Diluted earnings per share:
Income from continuing operations	$ 46,485	$ 33,426
Income from discontinued operations	3,151	5,360
Income attributable to Hilltop	$ 49,636	$ 38,786
Weighted average shares outstanding - basic	90,509	93,669
Effect of potentially dilutive securities (in shares)	41
Weighted average shares outstanding - diluted	90,550	93,669
Income from continuing operations (in dollars per share)	$ 0.51	$ 0.36
Income from discontinued operations (in dollars per share)	0.04	0.05
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.41