Hilltop (HTH) 10-Q 23 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		90,238,435
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 1,277,865	$ 433,626
Federal funds sold	420	394
Assets segregated for regulatory purposes	221,621	157,436
Securities purchased under agreements to resell	90,103	59,031
Securities:
Trading, at fair value	667,751	689,576
Available for sale, at fair value, net (amortized cost of $1,280,420 and 899,817, respectively)	1,310,240	911,493
Held to maturity, at amortized cost, net (fair value of $338,929 and $388,930, respectively)	323,299	386,326
Equity, at fair value	117	166
Total securities	2,301,407	1,987,561
Loans held for sale	2,547,975	2,106,361
Loans held for investment, net of unearned income	7,945,560	7,381,400
Allowance for credit losses	(155,214)	(61,136)
Loans held for investment, net	7,790,346	7,320,264
Broker-dealer and clearing organization receivables	1,363,478	1,780,280
Premises and equipment, net	208,078	210,375
Operating lease right-of-use assets	109,354	114,320
Mortgage servicing rights	127,712	55,504
Other assets	607,932	404,754
Goodwill	267,447	267,447
Other intangible assets, net	21,814	26,666
Assets of discontinued operations		248,429
Total assets	16,935,552	15,172,448
Deposits:
Noninterest-bearing	3,557,603	2,769,556
Interest-bearing	7,704,312	6,262,658
Total deposits	11,261,915	9,032,214
Broker-dealer and clearing organization payables	1,310,835	1,605,518
Short-term borrowings	780,109	1,424,010
Securities sold, not yet purchased, at fair value	56,023	43,817
Notes payable	396,006	256,269
Operating lease liabilities	122,402	125,619
Junior subordinated debentures	67,012	67,012
Other liabilities	502,517	348,519
Liabilities of discontinued operations		140,674
Total liabilities	14,496,819	13,043,652
Commitments and contingencies (see Notes 13 and 14)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 90,238,435 and 90,640,944 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	902	906
Additional paid-in capital	1,443,588	1,445,233
Accumulated other comprehensive income	23,790	11,419
Retained earnings	942,461	644,860
Deferred compensation employee stock trust, net	774	776
Employee stock trust (7,175 and 7,794 shares, at cost, at September 30, 2020 and December 31, 2019, respectively)	(143)	(155)
Total Hilltop stockholders' equity	2,411,372	2,103,039
Noncontrolling interests	27,361	25,757
Total stockholders' equity	2,438,733	2,128,796
Total liabilities and stockholders' equity	$ 16,935,552	$ 15,172,448

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 1,280,420	$ 899,817
Held to maturity, fair value	$ 338,929	$ 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	90,238,435	90,640,944
Common stock, shares outstanding	90,238,435	90,640,944
Employee stock trust, shares	7,175	7,794

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Loans, including fees	$ 104,955	$ 119,580	$ 323,983	$ 344,775
Securities borrowed	10,705	21,010	36,915	53,386
Securities:
Taxable	11,035	14,885	38,428	43,319
Tax-exempt	1,687	1,576	4,836	4,587
Other	1,446	3,889	5,472	12,811
Total interest income	129,828	160,940	409,634	458,878
Interest expense:
Deposits	10,700	18,887	37,771	54,029
Securities loaned	8,729	17,889	30,802	46,097
Short-term borrowings	2,346	8,166	9,457	20,534
Notes payable	4,904	2,265	11,090	6,611
Junior subordinated debentures	608	955	2,163	2,942
Other	641	132	1,557	446
Total interest expense	27,928	48,294	92,840	130,659
Net interest income	101,900	112,646	316,794	328,219
Provision for (reversal of) credit losses	(602)	47	99,973	326
Net interest income after provision for (reversal of) credit losses	102,502	112,599	216,821	327,893
Noninterest income:
Net gains from sale of loans and other mortgage production income	307,896	157,050	753,699	384,362
Mortgage loan origination fees	47,681	37,782	121,576	93,064
Securities commissions and fees	32,496	34,426	106,799	104,537
Investment and securities advisory fees and commissions	36,866	28,685	89,166	71,704
Other	77,772	48,562	171,309	145,504
Total noninterest income	502,711	306,505	1,242,549	799,171
Noninterest expense:
Employees' compensation and benefits	294,907	232,449	768,156	632,104
Occupancy and equipment, net	26,124	27,002	71,820	82,719
Professional services	17,522	15,472	48,057	43,354
Other	60,792	46,263	163,422	145,844
Total noninterest expense	399,345	321,186	1,051,455	904,021
Income from continuing operations before income taxes	205,868	97,918	407,915	223,043
Income tax expense	46,820	21,472	93,776	50,135
Income from continuing operations	159,048	76,446	314,139	172,908
Income from discontinued operations, net of income taxes	736	5,261	34,662	8,367
Net income	159,784	81,707	348,801	181,275
Less: Net income attributable to noncontrolling interest	6,505	2,289	17,410	5,260
Income attributable to Hilltop	$ 153,279	$ 79,418	$ 331,391	$ 176,015
Basic:
Earnings from continuing operations (in dollars per share)	$ 1.69	$ 0.81	$ 3.29	$ 1.80
Earnings from discontinued operations	0.01	0.06	0.38	0.09
Basic earnings per common share (in dollars per share)	1.70	0.87	3.67	1.89
Diluted:
Earnings from continuing operations (in dollars per share)	1.69	0.81	3.29	1.80
Earnings from discontinued operations	0.01	0.05	0.38	0.09
Diluted earnings per common share (in dollars per share)	$ 1.70	$ 0.86	$ 3.67	$ 1.89
Weighted average share information:
Basic (in shares)	90,200	91,745	90,291	92,931
Diluted (in shares)	90,200	91,824	90,291	92,959

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 159,784	$ 81,707	$ 348,801	$ 181,275
Other comprehensive income:
Change in fair value of cash flow hedges, net of tax of $92, $0, $(951) and $0, respectively	311		(3,266)
Net unrealized gains on securities available for sale, net of tax of $(99), $1,238, $4,554 and $6,030, respectively	(338)	6,468	15,512	22,973
Reclassification adjustment for gains included in net income, net of tax of $1, $(531), $37 and $(536), respectively	4	(2,025)	125	(2,041)
Comprehensive income	159,761	86,150	361,172	202,207
Less: comprehensive income attributable to noncontrolling interest	6,505	2,289	17,410	5,260
Comprehensive income applicable to Hilltop	$ 153,256	$ 83,861	$ 343,762	$ 196,947

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Cash flow hedge, tax	$ 92	$ 0	$ (951)	$ 0
Net unrealized gains on securities available for sale, tax	(99)	1,238	4,554	6,030
Reclassification adjustment, tax	$ 1	$ (531)	$ 37	$ (536)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	ParentCumulative Effect, Period of Adoption, Adjustment	Parent	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Deferred Compensation Employee Stock Trust, Net	Employee Stock Trust	Noncontrolling Interest	Cumulative Effect, Period of Adoption, Adjustment	Total
Balance at Dec. 31, 2018	$ 1,393	$ 1,949,470	$ 936	$ 1,489,816	$ (8,627)	$ 1,393	$ 466,737	$ 825	$ (217)	$ 24,423	$ 1,393	$ 1,973,893
Balance (in shares) at Dec. 31, 2018			93,610,000						11,000
Increase (Decrease) in Stockholders' Equity
Net income		176,015					176,015			5,260		181,275
Other comprehensive income		20,932			20,932							20,932
Stock-based compensation expense		7,717		7,717								7,717
Common stock issued to board members		426		426								426
Common stock issued to board members (in shares)			21,000
Issuance of common stock related to share-based awards, net		(1,934)	$ 4	(1,938)								(1,934)
Issuance of common stock related to share-based awards, net (in shares)			388,000
Repurchases of common stock		(73,385)	$ (34)	(54,417)			(18,934)					(73,385)
Repurchases of common stock (in shares)			(3,390,000)
Dividends on common stock		(22,376)					(22,376)					(22,376)
Deferred compensation plan		11						(36)	$ 47			11
Deferred compensation plan (in shares)									(2,000)
Net cash distributed to noncontrolling interest										(4,525)		(4,525)
Balance at Sep. 30, 2019		2,058,269	$ 906	1,441,604	12,305		602,835	789	$ (170)	25,158		2,083,427
Balance (in shares) at Sep. 30, 2019			90,629,000						9,000
Balance at Jun. 30, 2019		2,027,281	$ 928	1,473,599	7,862		544,275	788	$ (171)	24,524		2,051,805
Balance (in shares) at Jun. 30, 2019			92,775,000						9,000
Increase (Decrease) in Stockholders' Equity
Net income		79,418					79,418			2,289		81,707
Other comprehensive income		4,443			4,443							4,443
Stock-based compensation expense		2,978		2,978								2,978
Common stock issued to board members		145		145								145
Common stock issued to board members (in shares)			6,000
Issuance of common stock related to share-based awards, net		(200)		(200)								(200)
Issuance of common stock related to share-based awards, net (in shares)			23,000
Repurchases of common stock		(48,405)	$ (22)	(34,918)			(13,465)					(48,405)
Repurchases of common stock (in shares)			(2,175,000)
Dividends on common stock		(7,393)					(7,393)					(7,393)
Deferred compensation plan		2						1	$ 1			2
Net cash distributed to noncontrolling interest										(1,655)		(1,655)
Balance at Sep. 30, 2019		2,058,269	$ 906	1,441,604	12,305		602,835	789	$ (170)	25,158		2,083,427
Balance (in shares) at Sep. 30, 2019			90,629,000						9,000
Balance at Dec. 31, 2019	$ (5,691)	2,103,039	$ 906	1,445,233	11,419	$ (5,691)	644,860	776	$ (155)	25,757	$ (5,691)	2,128,796
Balance (in shares) at Dec. 31, 2019			90,641,000						8,000
Increase (Decrease) in Stockholders' Equity
Net income		331,391					331,391			17,410		348,801
Other comprehensive income		12,371			12,371							12,371
Stock-based compensation expense		10,549		10,549								10,549
Common stock issued to board members		439		439								439
Common stock issued to board members (in shares)			25,000
Issuance of common stock related to share-based awards, net		(1,088)	$ 3	(1,091)								(1,088)
Issuance of common stock related to share-based awards, net (in shares)			293,000
Repurchases of common stock		(15,250)	$ (7)	(11,542)			(3,701)					$ (15,250)
Repurchases of common stock (in shares)			(721,000)									(720,901)
Dividends on common stock		(24,398)					(24,398)					$ (24,398)
Deferred compensation plan		10						(2)	$ 12			10
Deferred compensation plan (in shares)									(1,000)
Net cash distributed to noncontrolling interest										(15,806)		(15,806)
Balance at Sep. 30, 2020		2,411,372	$ 902	1,443,588	23,790		942,461	774	$ (143)	27,361		2,438,733
Balance (in shares) at Sep. 30, 2020			90,238,000						7,000
Balance at Jun. 30, 2020		2,262,360	$ 902	1,439,686	23,813		797,331	778	$ (150)	29,773		2,292,133
Balance (in shares) at Jun. 30, 2020			90,222,000						8,000
Increase (Decrease) in Stockholders' Equity
Net income		153,279					153,279			6,505		159,784
Other comprehensive income		(23)			(23)							(23)
Stock-based compensation expense		3,790		3,790								3,790
Common stock issued to board members		147		147								147
Common stock issued to board members (in shares)			7,000
Issuance of common stock related to share-based awards, net		(64)		(64)								(64)
Issuance of common stock related to share-based awards, net (in shares)			9,000
Repurchases of common stock		(1)		29			(30)					(1)
Dividends on common stock		(8,119)					(8,119)					(8,119)
Deferred compensation plan		3						(4)	$ 7			3
Deferred compensation plan (in shares)									(1,000)
Net cash distributed to noncontrolling interest										(8,917)		(8,917)
Balance at Sep. 30, 2020		$ 2,411,372	$ 902	$ 1,443,588	$ 23,790		$ 942,461	$ 774	$ (143)	$ 27,361		$ 2,438,733
Balance (in shares) at Sep. 30, 2020			90,238,000						7,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Oct. 22, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.09	$ 0.09	$ 0.08	$ 0.27	$ 0.24

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income	$ 348,801	$ 181,275
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	99,973	326
Depreciation, amortization and accretion, net	15,093	(2,465)
Net change in fair value of equity securities	49	(30)
Deferred income taxes	(73)	1,502
Other, net	4,096	10,624
Net change in securities purchased under agreements to resell	(31,072)	11,613
Net change in trading securities	21,825	38,198
Net change in broker-dealer and clearing organization receivables	491,035	(271,474)
Net change in other assets	(94,997)	(35,263)
Net change in broker-dealer and clearing organization payables	(273,013)	132,964
Net change in other liabilities	147,058	75,858
Net change in securities sold, not yet purchased	12,206	(22,418)
Proceeds from sale of mortgage servicing rights asset	18,650
Net gains from sales of loans	(753,699)	(384,362)
Loans originated for sale	(19,351,752)	(11,858,761)
Proceeds from loans sold	19,449,739	11,638,303
Net cash provided by (used in) operating activities for continuing operations	103,919	(484,110)
Net cash used in operating activities for discontinued operations	(29,269)	(421)
Net cash provided by (used in) operating activities	74,650	(484,531)
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	69,937	53,051
Proceeds from sales, maturities and principal reductions of securities available for sale	321,049	204,016
Purchases of securities held to maturity	(7,553)	(73,652)
Purchases of securities available for sale	(704,933)	(324,609)
Net change in loans held for investment	(647,420)	(387,952)
Purchases of premises and equipment and other assets	(25,331)	(27,200)
Proceeds from sales of premises and equipment and other real estate owned	20,912	12,570
Net cash received from (paid to) Federal Home Loan Bank and Federal Reserve Bank stock	22,847	(20,381)
Net cash used in investing activities for continuing operations	(950,492)	(564,157)
Net cash provided by investing activities for discontinued operations	1,941	16,888
Net cash received from disposal of discontinued operations	85,499
Net cash used in investing activities	(863,052)	(547,269)
Financing Activities
Net change in deposits	2,208,031	312,990
Net change in short-term borrowings	(645,160)	436,948
Proceeds from notes payable	1,200,343	675,086
Payments on notes payable	(1,060,681)	(658,677)
Payments to repurchase common stock	(15,250)	(73,385)
Dividends paid on common stock	(24,398)	(22,376)
Net cash distributed to noncontrolling interest	(15,806)	(4,525)
Taxes paid on employee stock awards netting activity	(1,090)	(1,934)
Other, net	(470)	(363)
Net cash provided by financing activities	1,645,519	663,764
Net change in cash, cash equivalents and restricted cash	857,117	(368,036)
Cash, cash equivalents and restricted cash, beginning of period	642,789	778,466
Cash, cash equivalents and restricted cash, end of period	1,499,906	410,430
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	87,798	125,928
Cash paid for income taxes, net of refunds	87,581	32,227
Supplemental Schedule of Non-Cash Activities
Conversion of loans to other real estate owned	13,669	3,502
Additions to mortgage servicing rights	$ 123,266	$ 8,574

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 1,277,865	$ 281,445
Cash and due from banks, included within assets of discontinued operations	0	44,684
Federal funds sold	420	423
Assets segregated for regulatory purposes	221,621	83,878
Total cash, cash equivalents and restricted cash	$ 1,499,906	$ 410,430

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	9 Months Ended
	Sep. 30, 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 and mortgage origination subsidiaries. ​ On June 30, 2020, Hilltop completed the sale of all of the outstanding capital stock of National Lloyds Corporation (“NLC”), which comprises the operations of the insurance segment, for cash proceeds of $154.1 million, subject to post-closing adjustments. Accordingly, NLC’s results and its assets and liabilities have been presented as discontinued operations in the consolidated financial statements. For further details, see Note 3 to the consolidated financial statements. ​ The Company, headquartered in Dallas, Texas, provides its products and services through its two remaining primary business units included within continuing operations, PlainsCapital Corporation (“PCC”) and Hilltop Securities Holdings LLC (“Securities Holdings”). 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. ​ As a result of the spread of the novel coronavirus (“COVID-19”) pandemic, economic uncertainties continue to adversely impact the global economy and have 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. Many of these businesses reopened but may be operating at limited capacity. 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. 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. ​ 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, the mortgage loan indemnification liability, and the potential impairment of goodwill and identifiable intangible assets are particularly subject to change. As a result of the sale of NLC on June 30, 2020, the reserve for losses and loss adjustment expenses (“LAE”) is not a significant accounting estimate. 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” and collectively with Hilltop Securities, 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. Hilltop Securities, HTS Independent Network and Hilltop Securities Asset Management, LLC are registered investment advisers under the Investment Advisers Act of 1940. ​ 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 and its assets and liabilities as discontinued operations. 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, which sets forth a “current expected credit loss” model, 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 ​ 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. For 1-4 family residential 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 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. 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. 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. ​ 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 maintenance practical expedient. The collateral maintenance 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 company’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 is primarily 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	9 Months Ended
	Sep. 30, 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 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 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 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	9 Months Ended
	Sep. 30, 2020
Discontinued Operations
Discontinued Operations	T 3. Discontinued Operations ​ NLC Sale ​ On June 30, 2020, Hilltop completed the sale of all of the outstanding capital stock of NLC, which comprised the operations of the insurance segment, for cash proceeds of $154.1 million. Hilltop recognized a gain associated with this transaction of $32.3 million, net of customary transaction costs of $5.1 million and was subject to post-closing adjustments. During the third quarter of 2020, Hilltop recognized a $0.7 million pre-tax post-closing adjustment to income from discontinued operations related to the finalization of the June 30, 2020 closing balance sheet, resulting in an aggregate gain on the sale of NLC of $33.1 million. The resulting book gain from this sale transaction was not recognized for tax purposes due to the excess tax basis over book basis being greater than the recorded book gain. Any tax loss related to this transaction is deemed disallowed pursuant to the rules under the Internal Revenue Code. ​ During the first quarter of 2020, management had determined that the pending sale of NLC met the criteria to be presented as discontinued operations. Therefore, NLC’s results and its assets and liabilities have been presented as discontinued operations in the consolidated financial statements. 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 sheet under the caption “Assets of discontinued operations” and “Liabilities of discontinued operations”, respectively. ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2019 Assets ​ ​ ​ Cash and due from banks ​ $ 51,333 Securities: ​ ​ ​ Available for sale, at fair value ​ ​ 86,899 Equity, at fair value ​ ​ 19,841 ​ ​ ​ 106,740 ​ ​ ​ ​ Premises and equipment, net ​ ​ 9,607 Operating lease right-of-use assets ​ ​ 2,739 Other assets ​ ​ 50,533 Goodwill ​ ​ 23,988 Other intangible assets, net ​ ​ 3,489 Total assets of discontinued operations ​ $ 248,429 ​ ​ ​ ​ Liabilities ​ ​ ​ Notes payable ​ $ 27,500 Operating lease liabilities ​ ​ 2,783 Other liabilities ​ ​ 110,391 Total liabilities of discontinued operations ​ $ 140,674 ​ The following table presents the results of discontinued operations for NLC for the periods indicated. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 2019 ​ 2020 ​ 2019 Interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Taxable ​ $ — ​ $ 879 ​ $ 1,752 ​ $ 2,745 Other ​ ​ — ​ ​ 137 ​ ​ 71 ​ ​ 429 Total interest income ​ ​ — ​ ​ 1,016 ​ ​ 1,823 ​ ​ 3,174 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes payable ​ ​ — ​ ​ 450 ​ ​ 775 ​ ​ 1,374 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net insurance premiums earned ​ ​ — ​ ​ 32,654 ​ ​ 65,077 ​ ​ 99,323 Other ​ ​ — ​ ​ 2,242 ​ ​ 3,051 ​ ​ 8,246 Total noninterest income ​ ​ — ​ ​ 34,896 ​ ​ 68,128 ​ ​ 107,569 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employees' compensation and benefits ​ ​ — ​ ​ 2,748 ​ ​ 6,002 ​ ​ 8,734 Occupancy and equipment, net ​ ​ — ​ ​ 200 ​ ​ 464 ​ ​ 725 Professional services ​ ​ — ​ ​ 8,874 ​ ​ 18,201 ​ ​ 27,687 Loss and loss adjustment expenses ​ ​ — ​ ​ 14,677 ​ ​ 38,419 ​ ​ 54,584 Other ​ ​ — ​ ​ 2,424 ​ ​ 3,987 ​ ​ 7,120 Total noninterest expense ​ ​ — ​ ​ 28,923 ​ ​ 67,073 ​ ​ 98,850 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from discontinued operations before income taxes ​ ​ — ​ ​ 6,539 ​ ​ 2,103 ​ ​ 10,519 Gain on disposal of discontinued operations ​ ​ 736 ​ ​ — ​ ​ 33,077 ​ ​ — Income tax expense ​ ​ — ​ ​ 1,278 ​ ​ 518 ​ ​ 2,152 Income from discontinued operations, net of income taxes ​ $ 736 ​ $ 5,261 ​ $ 34,662 ​ $ 8,367 ​ Securities ​ The available for sale securities held by NLC at December 31, 2019 reflected in the consolidated balance sheets under the caption “Assets of discontinued operations” were primarily comprised of U.S. Treasury, residential mortgage-backed and corporate debt securities with aggregate unrealized gross gains of $2.5 million and measured using Level 2 inputs on a recurring basis. NLC’s available for sale portfolio had nominal unrealized gross losses at December 31, 2019. ​ NLC had unrealized net gains of $1.1 million from the equity securities held at December 31, 2019, measured using Level 1 inputs on a recurring basis. No activity was recognized for NLC equity securities for the three months ended September 30, 2020 as the sale was finalized June 30, 2020. NLC recognized net losses of $0.1 million during the three months ended September 30, 2019, and recognized net gains of $1.4 million during the nine months ended September 30, 2019 due to changes in the fair value of equity securities still held at the balance sheet date. ​ Reinsurance Activity ​ 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 September 30, ​ Nine Months Ended September 30, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ Written Earned Written Earned Written Earned Written Earned Premiums from direct business ​ $ — ​ $ — ​ $ 31,269 ​ $ 31,698 ​ $ 63,811 ​ $ 61,384 ​ $ 97,621 ​ $ 95,161 ​ Reinsurance assumed ​ — ​ — ​ 3,440 ​ 3,289 ​ 6,396 ​ 6,452 ​ 10,191 ​ 9,736 ​ Reinsurance ceded ​ — ​ — ​ (2,333) ​ (2,333) ​ (2,759) ​ (2,759) ​ (5,574) ​ (5,574) ​ Net premiums ​ $ — ​ $ — ​ $ 32,376 ​ $ 32,654 ​ $ 67,448 ​ $ 65,077 ​ $ 102,238 ​ $ 99,323 ​ ​ 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 Losses and LAE incurred ​ $ — ​ $ 14,508 ​ $ 38,225 ​ $ 53,450 ​ Reinsurance recoverables ​ — ​ 169 ​ 194 ​ 1,134 ​ Net loss and LAE incurred ​ $ — ​ $ 14,677 ​ $ 38,419 ​ $ 54,584 ​ ​

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 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 PrimeLending’s retained mortgage servicing rights (“MSR”) asset and substantially all of mortgage loans held for sale 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 September 30, 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 $2.34 billion and $1.94 billion, respectively, and the unpaid principal balance of those loans was $2.24 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 September 30, 2020 ​ Inputs ​ Inputs ​ Inputs ​ Fair Value Trading securities ​ $ 20,859 ​ $ 646,892 ​ $ — ​ $ 667,751 ​ Available for sale securities ​ ​ — ​ ​ 1,310,240 ​ ​ — ​ ​ 1,310,240 ​ Equity securities ​ ​ 117 ​ ​ — ​ ​ — ​ ​ 117 ​ Loans held for sale ​ ​ — ​ ​ 2,272,002 ​ ​ 72,186 ​ ​ 2,344,188 ​ Derivative assets ​ ​ — ​ ​ 169,005 ​ ​ — ​ ​ 169,005 ​ MSR asset ​ ​ — ​ ​ — ​ ​ 127,712 ​ ​ 127,712 ​ Securities sold, not yet purchased ​ ​ 32,178 ​ ​ 23,845 ​ ​ — ​ ​ 56,023 ​ Derivative liabilities ​ ​ — ​ ​ 56,104 ​ ​ — ​ ​ 56,104 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 91,936 ​ $ 5,338 ​ $ (20,182) ​ $ 1,097 ​ $ (6,003) ​ $ — ​ $ 72,186 ​ MSR asset ​ 81,264 ​ ​ 59,351 ​ ​ — ​ ​ — ​ ​ (12,903) ​ ​ — ​ 127,712 ​ Total ​ $ 173,200 ​ $ 64,689 ​ $ (20,182) ​ $ 1,097 ​ $ (18,906) ​ $ — ​ $ 199,898 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 67,195 ​ $ 53,961 ​ $ (51,125) ​ $ 10,064 ​ $ (7,909) ​ $ — ​ $ 72,186 ​ MSR asset ​ ​ 55,504 ​ ​ 123,266 ​ ​ (18,650) ​ ​ — ​ ​ (32,408) ​ ​ — ​ ​ 127,712 ​ Total ​ $ 122,699 ​ $ 177,227 ​ $ (69,775) ​ $ 10,064 ​ $ (40,317) ​ $ — ​ $ 199,898 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 56,799 ​ $ 15,347 ​ $ (9,364) ​ $ 711 ​ $ (2,589) ​ $ — ​ $ 60,904 ​ MSR asset ​ ​ 53,695 ​ ​ 4,166 ​ ​ — ​ ​ — ​ ​ (6,564) ​ ​ — ​ ​ 51,297 ​ Total ​ $ 110,494 ​ $ 19,513 ​ $ (9,364) ​ $ 711 ​ $ (9,153) ​ $ — ​ $ 112,201 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 50,464 ​ $ 44,827 ​ $ (27,448) ​ ​ 1,136 ​ $ (8,075) ​ $ — ​ $ 60,904 ​ MSR asset ​ ​ 66,102 ​ ​ 8,574 ​ ​ — ​ ​ — ​ ​ (23,379) ​ ​ — ​ ​ 51,297 ​ Total ​ $ 116,566 ​ $ 53,401 ​ $ (27,448) ​ $ 1,136 ​ $ (31,454) ​ $ — ​ $ 112,201 ​ ​ 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 September 30, 2020. ​ For Level 3 financial instruments measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Range (Weighted-Average) ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Financial instrument Valuation Technique Unobservable Inputs 2020 ​ 2019 Loans ​ Market comparable ​ Projected price ​ 88 - 96 % ( 95 %) ​ 92 - 96 % ( 95 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MSR asset ​ Discounted cash flows ​ Constant prepayment rate ​ ​ ​ ​ 12.97 % ​ ​ ​ ​ ​ 13.16 % ​ ​ ​ ​ ​ Discount rate ​ ​ ​ ​ 14.65 % ​ ​ ​ ​ ​ 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 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 increase in the weighted average discount rate used to value the MSR asset at September 30, 2020, compared to December 31, 2019, addresses the effect of the reduction in third-party servicing outlets beginning in the second quarter of 2020 resulting from the impact of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act permits borrowers of federally-backed mortgage loans to forbear payments, which could negatively impact servicers’ liquidity and their ability to purchase servicing. ​ 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 September 30, 2020 ​ Three Months Ended September 30, 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 ​ $ (9,167) ​ $ — ​ $ (9,167) ​ $ 4,117 ​ $ — ​ $ 4,117 ​ MSR asset ​ (12,903) ​ — ​ (12,903) ​ (6,564) ​ — ​ (6,564) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 ​ Nine Months Ended September 30, 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 ​ $ 49,311 ​ $ — ​ $ 49,311 ​ $ 7,972 ​ $ — ​ $ 7,972 ​ MSR asset ​ (32,408) ​ — ​ (32,408) ​ (23,379) ​ — ​ (23,379) ​ ​ ​ 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 ​ ​ September 30, 2020 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,278,285 ​ $ 1,278,285 ​ $ — ​ $ — ​ $ 1,278,285 ​ Assets segregated for regulatory purposes ​ ​ 221,621 ​ ​ 221,621 ​ ​ — ​ ​ — ​ ​ 221,621 ​ Securities purchased under agreements to resell ​ ​ 90,103 ​ ​ — ​ ​ 90,103 ​ ​ — ​ ​ 90,103 ​ Held to maturity securities ​ ​ 323,299 ​ ​ — ​ ​ 338,929 ​ ​ — ​ ​ 338,929 ​ Loans held for sale ​ ​ 203,787 ​ ​ — ​ ​ 203,787 ​ ​ — ​ ​ 203,787 ​ Loans held for investment, net ​ ​ 7,790,346 ​ ​ — ​ ​ 502,295 ​ ​ 7,388,992 ​ ​ 7,891,287 ​ Broker-dealer and clearing organization receivables ​ 1,363,478 ​ — ​ 1,363,478 ​ — ​ 1,363,478 ​ Other assets ​ 73,173 ​ — ​ 71,628 ​ 1,545 ​ 73,173 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 11,261,915 ​ — ​ 11,280,154 ​ — ​ 11,280,154 ​ Broker-dealer and clearing organization payables ​ 1,310,835 ​ — ​ 1,310,835 ​ — ​ 1,310,835 ​ Short-term borrowings ​ 780,109 ​ — ​ 780,109 ​ — ​ 780,109 ​ Debt ​ 463,018 ​ — ​ 463,018 ​ — ​ 463,018 ​ Other liabilities ​ 13,885 ​ — ​ 13,885 ​ — ​ 13,885 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $62.7 million and $36.6 million at September 30, 2020 and December 31, 2019, respectively, which are included within other assets in the consolidated balance sheets. Of the $62.7 million of such equity investments held at September 30, 2020, $22.0 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 ​ 2020 2019 Balance, beginning of period $ 20,613 $ 19,906 ​ $ 19,771 $ 20,376 Additional investments ​ ​ — ​ ​ — ​ ​ — ​ ​ — Upward adjustments ​ ​ 2,221 ​ ​ 101 ​ ​ 3,852 ​ ​ 303 Impairments and downward adjustments ​ ​ (826) ​ ​ (346) ​ ​ (1,615) ​ ​ (1,018) Dispositions ​ — ​ — ​ — ​ — Balance, end of period ​ $ 22,008 ​ $ 19,661 ​ $ 22,008 ​ $ 19,661 ​

Securities

Securities	9 Months Ended
	Sep. 30, 2020
Securities
Securities	5. Securities ​ The fair value of trading securities is summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2020 2019 U.S. Treasury securities $ 20,859 $ — U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ ​ 51,707 ​ ​ 24,680 ​ ​ Residential mortgage-backed securities ​ 13,951 ​ 331,601 ​ ​ Commercial mortgage-backed securities ​ 891 ​ 2,145 ​ ​ Collateralized mortgage obligations ​ ​ 372,219 ​ ​ 191,154 ​ ​ Corporate debt securities ​ ​ 62,837 ​ ​ 36,973 ​ ​ States and political subdivisions ​ ​ 135,068 ​ ​ 93,117 ​ ​ Unit investment trusts ​ ​ — ​ ​ 3,468 ​ ​ Private-label securitized product ​ ​ 6,752 ​ ​ 2,992 ​ ​ Other ​ ​ 3,467 ​ ​ 3,446 ​ ​ Totals ​ $ 667,751 ​ $ 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 $56.0 million and $43.8 million at September 30, 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 ​ ​ ​ September 30, 2020 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 56,781 ​ $ 1,204 ​ $ (45) ​ $ 57,940 ​ Residential mortgage-backed securities ​ 579,725 ​ 17,553 ​ (285) ​ 596,993 ​ Commercial mortgage-backed securities ​ ​ 63,570 ​ 926 ​ (204) ​ 64,292 ​ Collateralized mortgage obligations ​ 540,326 ​ 8,454 ​ (303) ​ 548,477 ​ States and political subdivisions ​ 40,018 ​ 2,520 ​ — ​ 42,538 ​ Totals ​ $ 1,280,420 ​ $ 30,657 ​ $ (837) ​ $ 1,310,240 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ September 30, 2020 Cost Gains Losses Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 14,659 ​ $ 790 ​ $ — ​ $ 15,449 Commercial mortgage-backed securities ​ ​ 153,318 ​ 10,245 ​ — ​ 163,563 Collateralized mortgage obligations ​ 84,670 ​ 2,288 ​ — ​ 86,958 States and political subdivisions ​ 70,652 ​ 2,321 ​ (14) ​ 72,959 Totals ​ $ 323,299 ​ $ 15,644 ​ $ (14) ​ $ 338,929 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 unrealized net gains of $0.1 million at both September 30, 2020 and December 31, 2020 from equity securities with fair values of $0.1 million and $0.2 million held at September 30, 2020 and December 31, 2019, respectively. The Company recognized nominal net losses during the three and nine months ended September 30, 2020 and 2019, respectively, due to changes in the fair value of equity securities still held at the balance sheet date. During the three and nine months ended September 30, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 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 3 ​ $ 24,955 ​ $ 45 2 ​ $ 24,937 ​ $ 64 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 3 ​ ​ 24,955 ​ ​ 45 2 ​ 24,937 ​ 64 ​ Residential mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 6 ​ 58,891 ​ 285 37 ​ 36,187 ​ 87 ​ Unrealized loss for twelve months or longer — ​ — ​ — 2 ​ 13,683 ​ 58 ​ ​ 6 ​ ​ 58,891 ​ ​ 285 39 ​ 49,870 ​ 145 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 2 ​ 18,913 ​ 204 1 ​ 9,967 ​ 2 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 2 ​ ​ 18,913 ​ ​ 204 1 ​ 9,967 ​ 2 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 6 ​ 74,131 ​ 248 15 ​ 94,545 ​ 446 ​ Unrealized loss for twelve months or longer 5 ​ 14,659 ​ 55 13 ​ 46,217 ​ 369 ​ ​ 11 ​ ​ 88,790 ​ ​ 303 28 ​ 140,762 ​ 815 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — — ​ — ​ — ​ Unrealized loss for twelve months or longer — ​ — ​ — 1 ​ 487 ​ — ​ ​ — ​ ​ — ​ ​ — 1 ​ 487 ​ — ​ Total available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 17 ​ 176,890 ​ 782 55 ​ 165,636 ​ 599 ​ Unrealized loss for twelve months or longer 5 ​ 14,659 ​ 55 16 ​ 60,387 ​ 427 ​ ​ 22 ​ $ 191,549 ​ $ 837 71 ​ $ 226,023 ​ $ 1,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 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 — ​ — ​ — 4 ​ 23,904 ​ 287 ​ Unrealized loss for twelve months or longer — ​ — ​ — 8 ​ 59,560 ​ 617 ​ ​ — ​ — ​ — 12 ​ 83,464 ​ 904 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 9 ​ 2,993 ​ 14 38 ​ 15,996 ​ 124 ​ Unrealized loss for twelve months or longer — ​ — ​ — 4 ​ 1,099 ​ 31 ​ ​ 9 ​ 2,993 ​ 14 42 ​ 17,095 ​ 155 ​ Total held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 9 ​ 2,993 ​ 14 52 ​ 94,175 ​ 1,102 ​ Unrealized loss for twelve months or longer — ​ — ​ — 12 ​ 60,659 ​ 648 ​ ​ 9 ​ $ 2,993 ​ $ 14 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 September 30, 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 ​ $ 4,994 ​ $ 5,097 ​ $ 651 ​ $ 654 ​ Due after one year through five years ​ 55,385 ​ 56,825 ​ 1,215 ​ 1,274 ​ Due after five years through ten years ​ 19,117 ​ 19,915 ​ 8,208 ​ 8,504 ​ Due after ten years ​ 17,303 ​ 18,641 ​ 60,578 ​ 62,527 ​ ​ ​ 96,799 ​ 100,478 ​ 70,652 ​ 72,959 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ 579,725 ​ 596,993 ​ 14,659 ​ 15,449 ​ Collateralized mortgage obligations ​ 540,326 ​ 548,477 ​ 84,670 ​ 86,958 ​ Commercial mortgage-backed securities ​ 63,570 ​ 64,292 ​ 153,318 ​ 163,563 ​ ​ ​ $ 1,280,420 ​ $ 1,310,240 ​ $ 323,299 ​ $ 338,929 ​ ​ The Company recognized net gains of $86.2 million and $4.4 million from its trading portfolio during the three months ended September 30, 2020 and 2019, respectively and $106.7 million and $15.1 million during the nine months ended September 30, 2020 and 2019, respectively. In addition, the Hilltop Broker-Dealers realized a net loss of $14.4 million and $43.3 million during the three months ended September 30, 2020 and 2019, respectively, and $27.8 million and $99.0 million during the nine months ended September 30, 2020 and 2019, respectively, from structured product trading activities. The Company had nominal other realized gains on securities during the three months ended September 30, 2020 and other realized gains on securities was $0.2 million during the nine months ended September 30, 2020, while other realized losses on securities were $2.6 million during the three and nine months ended September 30, 2019. 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 $541.3 million and $576.0 million (with a fair value of $562.9 million and $583.6 million, respectively) at September 30, 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 September 30, 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 any declines in value are unrelated to credit loss and are related to changes in market interest rates since purchase. None of the available for sale debt securities held were past due at September 30, 2020. In addition, as of September 30, 2020, the Company had evaluated its held to maturity debt securities, considering the current credit ratings and recognized losses, and determined the potential credit loss to be minimal. With respect to these securities, the Company considered the risk of credit loss to be negligible, and therefore, no allowance was recognized on the debt securities portfolio at September 30, 2020.

Loans Held for Investment

Loans Held for Investment	9 Months Ended
	Sep. 30, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 2019 ​ Commercial real estate ​ $ 3,073,038 ​ $ 3,000,523 ​ Commercial and industrial (1) ​ 2,848,289 ​ 2,025,720 ​ Construction and land development ​ 841,385 ​ 940,564 ​ 1-4 family residential ​ ​ 643,833 ​ 791,020 ​ Consumer ​ ​ 36,720 ​ 47,046 ​ Broker-dealer (2) ​ ​ 502,295 ​ 576,527 ​ ​ ​ 7,945,560 ​ 7,381,400 ​ Allowance for credit losses ​ (155,214) ​ (61,136) ​ Total loans held for investment, net of allowance ​ $ 7,790,346 ​ $ 7,320,264 ​ (1) Included loans totaling $670.7 million at September 30, 2020 funded through the Paycheck Protection Program. (2) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations. ​ ​ The following table provides details associated with non-accrual loans, excluding those classified as held for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual Loans ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ Interest Income Recognized (1) ​ ​ With ​ With No ​ ​ ​ ​ December 31, ​ Three Months Ended ​ Nine Months Ended ​ Allowance Allowance Total ​ 2019 ​ September 30, 2020 ​ September 30, 2020 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 1,049 ​ $ 1,598 ​ $ 2,647 ​ $ 3,813 ​ $ 99 ​ $ 88 Owner occupied ​ 2,155 ​ ​ 9,277 ​ ​ 11,432 ​ ​ 3,495 ​ ​ 156 ​ ​ 241 Commercial and industrial ​ ​ 23,006 ​ ​ 15,702 ​ ​ 38,708 ​ ​ 15,262 ​ ​ 312 ​ ​ 714 Construction and land development ​ 105 ​ ​ 423 ​ ​ 528 ​ ​ 1,316 ​ ​ 36 ​ ​ 89 1-4 family residential ​ 6,205 ​ ​ 14,394 ​ ​ 20,599 ​ ​ 7,382 ​ ​ 134 ​ ​ 1,299 Consumer ​ 53 ​ ​ — ​ ​ 53 ​ ​ 26 ​ ​ 2 ​ ​ (1) Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 32,573 ​ $ 41,394 ​ $ 73,967 ​ $ 31,294 ​ $ 739 ​ $ 2,430 (1) Interest income recognized on non-accrual loans during the three and nine months ended September 30, 2019 was $0.3 million and $1.1 million, respectively. ​ At September 30, 2020 and December 31, 2019, an additional $8.1 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. ​ Loans accounted for on a non-accrual basis increased from December 31, 2019 to September 30, 2020, primarily due to the addition of two commercial and industrial relationships totaling $19.3 million, commercial real estate loans totaling $12.7 million and various 1-4 family residential loans. The increase in commercial real estate loans in non-accrual status at September 30, 2020 of $6.8 million was primarily related to the addition of 24 loans totaling $12.7 million, with a reserve of $1.4 million, that were previously accruing at December 31, 2019. This increase from December 31, 2019 was partially offset by the settlement of a single loan accounted for on a non-accrual basis with a carrying amount of $2.5 million. The increase in commercial and industrial loans in non-accrual status since December 31, 2019 was primarily due to two relationships that included six loans totaling $19.3 million and had a $4.2 million reserve at September 30, 2020 and a CECL transition gross-up adjustment of $4.6 million related to a loan with an amortized cost of $6.8 million and a reserve of $5.2 million at September 30, 2020. The increase in 1-4 family residential loans in non-accrual status at September 30, 2020, compared to December 31, 2019, was primarily related to the classification of $4.0 million of loans as non-accrual, that were previously classified as accruing. ​ 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. ​ The Bank classifies loan modifications as troubled debt restructurings (“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. ​ In March 2020, the CARES Act was passed, which, among other things, allows the Bank to suspend the requirements for certain loan modifications to be categorized as a TDR. The Bank’s COVID-19 payment deferral programs allow for a deferral of principal and/or interest payments with such deferred principal payments due and payable on maturity date of the existing loan. T he Bank’s actions included approval of $968.1 million in COVID-19 related loan modifications as of June 30, 2020. During the third quarter of 2020, t ​ There were no TDRs granted during the three months ended September 30, 2020, as compared to two commercial and industrial TDRs granted during the comparable period in 2019, with a balance of $1.6 million at date of extension and at September 30, 2019. Information regarding TDRs granted during the nine months ended September 30, 2020 and 2019, is shown in the following table (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 ​ Nine Months Ended September 30, 2019 ​ Number of Balance at Balance at Number of Balance at Balance at ​ ​ ​ Loans ​ Extension ​ End of Period ​ Loans ​ Extension ​ End of Period Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ ​ — ​ $ — ​ $ — ​ — ​ $ — ​ $ — Owner occupied ​ ​ — ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ ​ 2 ​ 7,839 ​ 3,166 ​ 5 ​ 9,632 ​ 9,113 Construction and land development ​ ​ — ​ — ​ — ​ — ​ — ​ — 1-4 family residential ​ ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ ​ — ​ — ​ — ​ — ​ — ​ — Broker-dealer ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ ​ 2 $ 7,839 $ 3,166 5 $ 9,632 $ 9,113 ​ The Bank had nominal unadvanced commitments to borrowers whose loans had been restructured in TDRs at September 30, 2020 and at December 31, 2019. There were no TDRs granted during the twelve months preceding September 30, 2020 and September 30, 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 September 30, 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 ​ $ 2,389 ​ $ 2,876 ​ $ 200 ​ $ 5,465 ​ $ 1,749,896 ​ $ 1,755,361 ​ $ — ​ Owner occupied ​ 3,227 ​ 2,272 ​ ​ 6,267 ​ 11,766 ​ 1,305,911 ​ ​ 1,317,677 ​ ​ — ​ Commercial and industrial ​ ​ 1,953 ​ 3,271 ​ ​ 19,337 ​ 24,561 ​ 2,823,728 ​ ​ 2,848,289 ​ ​ 2 ​ Construction and land development ​ 2 ​ — ​ ​ — ​ 2 ​ 841,383 ​ ​ 841,385 ​ ​ — ​ 1-4 family residential ​ 3,600 ​ 3,404 ​ ​ 15,150 ​ 22,154 ​ 621,679 ​ ​ 643,833 ​ ​ — ​ Consumer ​ 12 ​ 251 ​ ​ 52 ​ 315 ​ 36,405 ​ ​ 36,720 ​ ​ — ​ Broker-dealer ​ — ​ — ​ ​ — ​ — ​ 502,295 ​ ​ 502,295 ​ ​ — ​ ​ ​ $ 11,183 ​ $ 12,074 ​ $ 41,006 ​ $ 64,263 ​ $ 7,881,297 ​ $ 7,945,560 ​ $ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $187.1 million and $102.7 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $188.5 million and $104.0 million, respectively) that were 90 days past due and accruing interest at September 30, 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. The Company defines classified loans as loans with a risk rating of substandard, doubtful or loss. ​ 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. 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. 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 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 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 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 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. ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2015 and ​ ​ ​ ​ ​ ​ September 30, 2020 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ ​ Prior ​ Revolving ​ Total Commercial real estate: non-owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 13,190 ​ $ 33,533 ​ $ 3,044 ​ $ 2,300 ​ $ 13,184 ​ $ 15,748 ​ $ 401 ​ $ 81,400 Internal Grade 4-7 (Pass normal risk) ​ ​ 211,586 ​ ​ 138,426 ​ ​ 118,655 ​ ​ 102,274 ​ ​ 124,166 ​ ​ 91,656 ​ ​ 32,904 ​ ​ 819,667 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 127,747 ​ ​ 160,637 ​ ​ 118,055 ​ ​ 91,650 ​ ​ 124,628 ​ ​ 62,187 ​ ​ 483 ​ ​ 685,387 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 30,756 ​ ​ 16,328 ​ ​ 27,592 ​ ​ 29,928 ​ ​ 30,808 ​ ​ 30,848 ​ ​ — ​ ​ 166,260 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,647 ​ ​ — ​ ​ 2,647 Commercial real estate: owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 46,605 ​ $ 32,541 ​ $ 10,711 ​ $ 42,978 ​ $ 24,894 ​ $ 39,509 ​ $ 1 ​ $ 197,239 Internal Grade 4-7 (Pass normal risk) ​ ​ 136,710 ​ ​ 161,028 ​ ​ 148,623 ​ ​ 64,900 ​ ​ 54,981 ​ ​ 94,698 ​ ​ 30,820 ​ ​ 691,760 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 95,828 ​ ​ 76,806 ​ ​ 47,453 ​ ​ 26,881 ​ ​ 29,485 ​ ​ 31,409 ​ ​ 927 ​ ​ 308,789 Internal Grade 12 (Special mention) ​ ​ 370 ​ ​ — ​ ​ 2,316 ​ ​ — ​ ​ — ​ ​ 538 ​ ​ — ​ ​ 3,224 Internal Grade 13 (Substandard accrual) ​ ​ 7,573 ​ ​ 3,588 ​ ​ 69,465 ​ ​ 7,717 ​ ​ 6,732 ​ ​ 10,158 ​ ​ — ​ ​ 105,233 Internal Grade 14 (Substandard non-accrual) ​ ​ 508 ​ ​ 2,248 ​ ​ 517 ​ ​ 5,361 ​ ​ 1,888 ​ ​ 910 ​ ​ — ​ ​ 11,432 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 32,808 ​ $ 16,361 ​ $ 5,850 ​ $ 12,387 ​ $ 4,315 ​ $ 87 ​ $ 16,874 ​ $ 88,682 Internal Grade 4-7 (Pass normal risk) ​ ​ 135,087 ​ ​ 76,615 ​ ​ 63,222 ​ ​ 26,560 ​ ​ 15,081 ​ ​ 13,306 ​ ​ 330,928 ​ ​ 660,799 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 76,601 ​ ​ 68,298 ​ ​ 29,181 ​ ​ 15,989 ​ ​ 30,392 ​ ​ 2,548 ​ ​ 197,296 ​ ​ 420,305 Internal Grade 12 (Special mention) ​ ​ 802 ​ ​ 16 ​ ​ 4,126 ​ ​ — ​ ​ 267 ​ ​ — ​ ​ 2,323 ​ ​ 7,534 Internal Grade 13 (Substandard accrual) ​ ​ 25,592 ​ ​ 4,553 ​ ​ 12,663 ​ ​ 6,327 ​ ​ 7,546 ​ ​ 358 ​ ​ 21,994 ​ ​ 79,033 Internal Grade 14 (Substandard non-accrual) ​ ​ 23,736 ​ ​ 6,906 ​ ​ 1,850 ​ ​ 350 ​ ​ 920 ​ ​ 3,538 ​ ​ 1,408 ​ ​ 38,708 Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 16,747 ​ $ 1,979 ​ $ 22,828 ​ $ 272 ​ $ 1,088 ​ $ 290 ​ $ 2,027 ​ $ 45,231 Internal Grade 4-7 (Pass normal risk) ​ ​ 147,952 ​ ​ 127,287 ​ ​ 66,772 ​ ​ 22,092 ​ ​ 6,100 ​ ​ 3,918 ​ ​ 36,221 ​ ​ 410,342 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 165,359 ​ ​ 107,915 ​ ​ 45,176 ​ ​ 25,883 ​ ​ 3,656 ​ ​ 929 ​ ​ 3,635 ​ ​ 352,553 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 3,088 ​ ​ 2,396 ​ ​ — ​ ​ 5,385 ​ ​ — ​ ​ 74 ​ ​ — ​ ​ 10,943 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 423 ​ ​ — ​ ​ — ​ ​ — ​ ​ 105 ​ ​ — ​ ​ 528 Construction and land development - individuals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — FICO between 620 and 720 ​ ​ 2,142 ​ ​ 82 ​ ​ 1,460 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,684 FICO greater than 720 ​ ​ 11,426 ​ ​ 279 ​ ​ 5,975 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 17,680 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other (1) ​ ​ 424 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 424 1-4 family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 991 ​ $ 851 ​ $ 3,679 ​ $ 57 ​ $ 931 ​ $ 34,503 ​ $ 532 ​ $ 41,544 FICO between 620 and 720 ​ ​ 15,184 ​ ​ 20,358 ​ ​ 10,077 ​ ​ 8,858 ​ ​ 12,689 ​ ​ 40,560 ​ ​ 1,317 ​ ​ 109,043 FICO greater than 720 ​ ​ 83,373 ​ ​ 97,176 ​ ​ 80,949 ​ ​ 44,821 ​ ​ 37,037 ​ ​ 77,530 ​ ​ 4,810 ​ ​ 425,696 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 97 ​ ​ 723 ​ ​ 19,779 ​ ​ — ​ ​ 20,599 Other (1) ​ ​ 9,080 ​ ​ 17,001 ​ ​ 8,491 ​ ​ 1,924 ​ ​ 1,103 ​ ​ 8,879 ​ ​ 473 ​ ​ 46,951 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 736 ​ $ 1,382 ​ $ 121 ​ $ 143 ​ $ 48 ​ $ 86 ​ $ 333 ​ $ 2,849 FICO between 620 and 720 ​ ​ 3,879 ​ ​ 3,044 ​ ​ 663 ​ ​ 718 ​ ​ 141 ​ ​ 94 ​ ​ 2,166 ​ ​ 10,705 FICO greater than 720 ​ ​ 5,334 ​ ​ 2,729 ​ ​ 3,235 ​ ​ 349 ​ ​ 87 ​ ​ 44 ​ ​ 4,511 ​ ​ 16,289 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 31 ​ ​ — ​ ​ 22 ​ ​ — ​ ​ 53 Other (1) ​ ​ 4,582 ​ ​ 1,686 ​ ​ 271 ​ ​ 51 ​ ​ 37 ​ ​ — ​ ​ 197 ​ ​ 6,824 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans with credit quality measures ​ $ 1,435,796 ​ $ 1,182,472 ​ $ 913,020 ​ $ 546,283 ​ $ 532,927 ​ $ 586,958 ​ $ 692,581 ​ $ 5,890,037 Commercial and industrial (mortgage warehouse lending) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 882,503 Commercial and industrial (Paycheck Protection Program loans) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 670,725 Broker-Dealer (margin loans and correspondent receivables) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 502,295 Total loans held for investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,945,560 (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 September 30, 2020. While the Company believes it has an appropriate allowance for the existing loan portfolio at September 30, 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. ​ One of the most significant judgments involved in estimating the Company’s allowance for credit losses relates to the macroeconomic forecasts used to estimate credit losses over the reasonable and supportable forecast period. To determine our best estimate of expected credit losses as of September 30, 2020, the Company utilized a single macroeconomic baseline scenario published by a third party in September 2020 that was updated to reflect the U.S. economic outlook due to COVID-19 conditions. This baseline scenario utilizes multiple economic variables in forecasting the economic outlook. Significant variables that impact the modeled losses across our loan portfolios are the U.S. Real Gross Domestic Product, or GDP, growth rates and unemployment rate assumptions. Changes in these assumptions and forecasts of economic conditions could significantly affect the estimate of expected credit losses at the balance sheet date or between reporting periods. ​ The COVID-19 pandemic has resulted in a weak labor market and weak overall economic conditions that will affect borrowers across our lending portfolios and significant judgment is required to estimate the severity and duration of the current economic downturn, as well as its potential impact on borrower defaults and loss severity. In particular, macroeconomic conditions and forecasts regarding the duration and severity of the economic downturn are rapidly changing and remain highly uncertain as the resurgence of COVID-19 cases evolves nationally and in key geographies. It is difficult to predict exactly how borrower behavior will be impacted by these economic conditions as the effectiveness of government stimulus, customer relief and enhanced unemployment benefits should help mitigate in the short term, but the extent and duration of government stimulus as well as performance of recently implemented payment deferral programs remains uncertain. ​ The increase in the allowance for credit losses for loans held for investment during the nine months ended September 30, 2020 was primarily attributable to changes within the Bank. During the first quarter of 2020, 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 September 30, 2020, the allowance included a net reversal of credit losses on individually evaluated loans of $1.2 million, while the provision for credit losses on expected losses of collectively evaluated loans accounted for $0.6 million of the total provision primarily due to the identified changes in the Bank’s loan portfolio composition and credit quality being offset by improvements in macroeconomic factor assumptions and qualitative factors from the prior quarter. The change in the allowance during the three months ended September 30, 2020 was also impacted by net charge-offs of $0.6 million. During the nine months ended September 30, 2020, the significant build in the allowance included provision for credit losses on individually evaluated loans of $22.6 million, while the provision for credit losses on expected losses of collectively evaluated loans accounted for $77.2 million of the total provision 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 COVID-19 pandemic. The changes in the allowance for credit losses during the noted periods were also attributable to other factors including, but not limited to, loan growth and loan mix. The change in the allowance during the nine months ended September 30, 2020 was also impacted by net charge-offs of $18.5 million, primarily associated with loans specifically reserved for during the first quarter of 2020. ​ 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 September 30, 2020 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 106,551 ​ $ — ​ $ (2,527) ​ $ (29) ​ $ 571 ​ $ 104,566 ​ Commercial and industrial ​ 31,863 ​ — ​ 7,274 ​ (1,341) ​ 382 ​ 38,178 ​ Construction and land development ​ 8,393 ​ — ​ (2,123) ​ — ​ — ​ 6,270 ​ 1-4 family residential ​ 7,399 ​ — ​ (2,213) ​ (144) ​ 10 ​ 5,052 ​ Consumer ​ ​ 1,429 ​ ​ — ​ ​ (411) ​ ​ (100) ​ ​ 84 ​ ​ 1,002 ​ Broker-dealer ​ ​ 748 ​ ​ — ​ ​ (602) ​ ​ — ​ ​ — ​ ​ 146 ​ Total ​ $ 156,383 ​ $ — ​ $ (602) ​ $ (1,614) ​ $ 1,047 ​ $ 155,214 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Nine Months Ended September 30, 2020 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 31,595 ​ $ 8,073 ​ $ 68,823 ​ $ (4,517) ​ $ 592 ​ $ 104,566 ​ Commercial and industrial ​ 17,964 ​ 3,193 ​ 30,896 ​ (15,325) ​ 1,450 ​ 38,178 ​ Construction and land development ​ 4,878 ​ 577 ​ 815 ​ (2) ​ 2 ​ 6,270 ​ 1-4 family residential ​ 6,386 ​ (29) ​ (813) ​ (517) ​ 25 ​ 5,052 ​ Consumer ​ ​ 265 ​ ​ 748 ​ ​ 154 ​ ​ (473) ​ ​ 308 ​ ​ 1,002 ​ Broker-dealer ​ ​ 48 ​ ​ — ​ ​ 98 ​ ​ — ​ ​ — ​ ​ 146 ​ Total ​ $ 61,136 ​ $ 12,562 ​ $ 99,973 ​ $ (20,834) ​ $ 2,377 ​ $ 155,214 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Three Months Ended September 30, 2019 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 25,114 ​ $ — ​ $ 757 ​ $ (9) ​ $ — ​ $ 25,862 ​ Commercial and industrial ​ 20,414 ​ — ​ (1,625) ​ (1,000) ​ 1,393 ​ 19,182 ​ Construction and land development ​ 4,396 ​ — ​ 392 ​ — ​ — ​ 4,788 ​ 1-4 family residential ​ 4,924 ​ — ​ 485 ​ (12) ​ 14 ​ 5,411 ​ Consumer ​ ​ 283 ​ ​ — ​ ​ (9) ​ ​ (12) ​ ​ 6 ​ ​ 268 ​ Broker-dealer ​ ​ 46 ​ ​ — ​ ​ 47 ​ ​ — ​ ​ — ​ ​ 93 ​ Total ​ $ 55,177 ​ $ — ​ $ 47 ​ $ (1,033) ​ $ 1,413 ​ $ 55,604 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Nine Months Ended September 30, 2019 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 27,100 ​ $ — ​ $ (1,229) ​ $ (9) ​ $ — ​ $ 25,862 ​ Commercial and industrial ​ 21,980 ​ — ​ 87 ​ (5,247) ​ 2,362 ​ 19,182 ​ Construction and land development ​ 6,061 ​ — ​ (1,273) ​ — ​ — ​ 4,788 ​ 1-4 family residential ​ 3,956 ​ — ​ 2,321 ​ (911) ​ 45 ​ 5,411 ​ Consumer ​ ​ 267 ​ ​ — ​ ​ 449 ​ ​ (476) ​ ​ 28 ​ ​ 268 ​ Broker-dealer ​ ​ 122 ​ ​ — ​ ​ (29) ​ ​ — ​ ​ — ​ ​ 93 ​ Total ​ $ 59,486 ​ $ — ​ $ 326 ​ $ (6,643) ​ $ 2,435 ​ $ 55,604 ​ ​

Mortgage Servicing Rights

Mortgage Servicing Rights	9 Months Ended
	Sep. 30, 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 and other information related to the serviced portfolio (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ 2020 ​ 2019 2020 ​ 2019 Balance, beginning of period $ 81,264 ​ $ 53,695 ​ $ 55,504 ​ $ 66,102 ​ Additions 59,351 ​ 4,166 ​ 123,266 ​ 8,574 ​ Sales — ​ — ​ (18,650) ​ — ​ Changes in fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Due to changes in model inputs or assumptions (1) (10,145) ​ (3,769) ​ (26,023) ​ (17,541) ​ Due to customer payoffs (2,758) ​ (2,795) ​ (6,385) ​ (5,838) ​ Balance, end of period $ 127,712 ​ $ 51,297 ​ $ 127,712 ​ $ 51,297 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ ​ ​ Mortgage loans serviced for others (2) $ 13,650,523 ​ $ 4,948,441 ​ ​ ​ ​ ​ ​ ​ MSR asset as a percentage of serviced mortgage loans 0.94 % 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. (2) Represents unpaid principal balance of mortgage loans serviced for others. ​ The key assumptions used in measuring the fair value of the Company’s MSR asset were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Weighted average constant prepayment rate 12.97 % ​ 13.16 % Weighted average discount rate 14.65 % ​ 11.14 % Weighted average life (in years) 6.1 ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 2019 ​ Constant prepayment rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ $ (4,859) ​ $ (3,072) ​ Impact of 20% adverse change ​ (9,487) ​ (5,943) ​ Discount rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ (4,844) ​ (2,094) ​ Impact of 20% adverse change ​ (9,252) ​ (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 $10.3 million and $6.3 million during the three months ended September 30, 2020 and 2019, respectively, and $21.3 million and $19.2 million during the nine months ended September 30, 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	9 Months Ended
	Sep. 30, 2020
Deposits
Deposits	8. Deposits ​ Deposits are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 2019 ​ Noninterest-bearing demand ​ $ 3,557,603 ​ $ 2,769,556 ​ Interest-bearing: ​ ​ ​ ​ ​ ​ ​ Demand accounts ​ 2,058,874 ​ 1,881,614 ​ Brokered - demand ​ 269,472 ​ — ​ Money market ​ 2,885,824 ​ 2,641,116 ​ Brokered - money market ​ 162,184 ​ 5,000 ​ Savings ​ 251,027 ​ 199,076 ​ Time ​ 1,505,225 ​ 1,505,375 ​ Brokered - time ​ 571,706 ​ 30,477 ​ ​ ​ $ 11,261,915 ​ $ 9,032,214 ​ ​

Short-term Borrowings

Short-term Borrowings	9 Months Ended
	Sep. 30, 2020
Short-term Borrowings
Short-term Borrowings	9. Short-term Borrowings ​ Short-term borrowings are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 Federal funds purchased ​ $ 149,150 ​ $ 81,625 ​ Securities sold under agreements to repurchase ​ 261,703 ​ 612,125 ​ Federal Home Loan Bank ​ — ​ 600,000 ​ Short-term bank loans ​ ​ 103,500 ​ ​ 111,000 ​ Commercial paper ​ 265,756 ​ 19,260 ​ ​ ​ $ 780,109 ​ $ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ Average balance during the period ​ $ 547,925 ​ $ 609,162 ​ ​ ​ ​ Average interest rate during the period ​ 1.03 % ​ 2.57 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ ​ Average interest rate at end of period ​ 0.30 % ​ 1.97 % ​ ​ ​ Securities underlying the agreements at end of period: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying value ​ $ 261,771 ​ $ 612,515 ​ ​ ​ ​ Estimated fair value ​ $ 279,403 ​ $ 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. The FHLB borrowings were fully paid during the three months ended September 30, 2020. Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Average balance during the period ​ $ 51,606 ​ $ 280,824 ​ ​ Average interest rate during the period ​ ​ 1.62 % ​ 2.34 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ ​ ​ ​ ​ 2020 ​ ​ 2019 ​ ​ Average interest rate at end of period ​ ​ — % ​ 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 September 30, 2020 and December 31, 2019 was 1.25% and 2.52%, respectively. ​ During the fourth quarter of 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 September 30, 2020, the weighted average maturity of the CP Notes was 154 days at a rate of 1.65%. At September 30, 2020, the aggregate amount outstanding under these secured arrangements was $265.8 million, which was collateralized by securities held for firm accounts valued at $171.6 million.

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2020
Notes Payable
Notes Payable	10. Notes Payable ​ Notes payable consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 Senior Notes due April 2025, net of discount of $1,107 and $1,232, respectively ​ $ 148,893 ​ $ 148,768 Subordinated Notes due May 2030, net of discount of $814 ​ ​ 49,186 ​ ​ — Subordinated Notes due May 2035, net of discount of $2,433 ​ ​ 147,567 ​ ​ — FHLB notes, including premium of $0 and $146, respectively ​ — ​ 28,848 Ventures Management lines of credit due August 2021 ​ ​ 50,360 ​ ​ 78,653 ​ ​ $ 396,006 ​ $ 256,269 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subordinated Notes ​ On May 7, 2020, Hilltop completed a public offering of $50 million aggregate principal amount of 5.75% fixed-to-floating rate subordinated notes due May 15, 2030 (the “2030 Subordinated Notes”) and $150 million aggregate principal amount of 6.125% fixed-to-floating rate subordinated notes due May 15, 2035 (the “2035 Subordinated Notes”) (collectively, the “Subordinated Notes”). The price for the Subordinated Notes was 100% of the principal amount of the Subordinated Notes. The net proceeds from the offering, after deducting underwriting discounts and fees and expenses of $3.4 million, were $196.6 million. ​ The 2030 Subordinated Notes and the 2035 Subordinated Notes will mature on May 15, 2030 and May 15, 2035, respectively. Hilltop may redeem the Subordinated Notes, in whole or in part, from time to time, subject to obtaining regulatory approval, beginning with the interest payment date of May 15, 2025 for the 2030 Subordinated Notes and beginning with the interest payment date of May 15, 2030 for the 2035 Subordinated Notes, in each case at a redemption price equal to 100% of the principal amount of the Subordinated Notes being redeemed plus accrued and unpaid interest to but excluding the date of redemption. ​ The 2030 Subordinated Notes bear interest at the rate of 5.75% per year, payable semi-annually in arrears commencing on November 15, 2020. The interest rate for the 2030 Subordinated Notes will reset quarterly beginning May 15, 2025 to an interest rate, per year, equal to the then-current benchmark rate, which is expected to be three-month term Secured Overnight Financing Rate

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases
Leases	11. Leases ​ Supplemental balance sheet information related to finance leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ ​ 2020 ​ ​ 2019 Finance leases: ​ ​ ​ ​ ​ ​ Premises and equipment ​ $ 7,780 ​ $ 7,780 Accumulated depreciation ​ ​ (4,620) ​ ​ (4,178) Premises and equipment, net ​ $ 3,160 ​ $ 3,602 ​ The components of lease costs, including short-term lease costs, are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 Operating lease cost ​ $ 11,067 ​ $ 11,123 ​ $ 32,318 ​ $ 32,253 Less operating lease and sublease income ​ ​ (363) ​ ​ (846) ​ ​ (1,336) ​ ​ (1,897) Net operating lease cost ​ $ 10,704 ​ $ 10,277 ​ $ 30,982 ​ $ 30,356 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ $ 147 ​ $ 147 ​ $ 442 ​ $ 442 Interest on lease liabilities ​ ​ 139 ​ ​ 148 ​ ​ 424 ​ ​ 450 Total finance lease cost ​ $ 286 ​ $ 295 ​ $ 866 ​ $ 892 ​ Supplemental cash flow information related to leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 27,994 ​ $ 29,047 ​ Operating cash flows from finance leases ​ ​ 424 ​ ​ 450 ​ Financing cash flows from finance leases ​ ​ 472 ​ ​ 438 ​ Right-of-use assets obtained in exchange for new lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 8,773 ​ $ 25,951 ​ Finance leases ​ ​ — ​ ​ — ​ ​ Information regarding the lease terms and discount rates of the Company’s leases is as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Weighted Average ​ ​ ​ Weighted Average ​ ​ ​ ​ Remaining Lease ​ Weighted Average ​ Remaining Lease ​ Weighted Average Lease Classification ​ Term (Years) ​ Discount Rate ​ Term (Years) ​ Discount Rate Operating ​ 5.6 ​ 4.87 % ​ 5.9 ​ 5.29 % Finance ​ 5.9 ​ 4.80 % ​ 6.5 ​ 4.79 % ​ Future minimum lease payments under the Leasing Standard as of September 30, 2020, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases 2020 $ 4,450 ​ $ 301 2021 ​ 33,880 ​ ​ 1,212 2022 ​ 27,373 ​ ​ 1,241 2023 ​ 21,920 ​ ​ 1,280 2024 ​ 14,765 ​ ​ 1,163 Thereafter ​ 39,110 ​ ​ 2,297 Total minimum lease payments $ 141,498 ​ $ 7,494 Less amount representing interest ​ (19,096) ​ ​ (2,471) Lease liabilities $ 122,402 ​ $ 5,023 ​ As of September 30, 2020, the Company had additional operating leases that have not yet commenced with aggregate future minimum lease payments of approximately $24.4 million. These operating leases are expected to commence between October 2020 and October 2021 with lease terms ranging from five ​ 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 September 30, 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 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 22.7% and 21.9% for the three months ended September 30, 2020 and 2019, respectively, and 23.0% and 22.5% for the nine months ended September 30, 2020 and 2019, respectively. The effective tax rates approximated statutory rates and include the effect of investments in tax-exempt instruments, offset by non-deductible expenses. ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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. 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. In addition, the mortgage origination segment has considered that GNMA, FNMA and FHLMC have imposed certain restrictions on loans the agencies will accept under a forbearance agreement resulting from the COVID-19 pandemic, which could increase the magnitude of indemnification losses on these loans. ​ 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 September 30, 2020 and December 31, 2019, the mortgage origination segment’s indemnification liability reserve totaled $18.0 million and $11.8 million, respectively. The provision for indemnification losses was $3.1 million and $1.0 million during the three months ended September 30, 2020 and 2019, respectively, and $7.7 million and $2.2 million during the nine months ended September 30, 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 ​ 2020 2019 Balance, beginning of period ​ $ 35,194 ​ $ 33,074 ​ $ 32,144 ​ $ 33,784 ​ Claims made ​ 2,558 ​ 6,423 ​ 14,770 ​ 16,110 ​ Claims resolved with no payment ​ (45) ​ (7,022) ​ (1,702) ​ (14,289) ​ Repurchases ​ (1,582) ​ (1,506) ​ (8,965) ​ (4,150) ​ Indemnification payments ​ - ​ (243) ​ (122) ​ (729) ​ Balance, end of period ​ $ 36,125 ​ $ 30,726 ​ $ 36,125 ​ $ 30,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification Liability Reserve Activity ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ 2020 2019 2020 2019 Balance, beginning of period ​ $ 15,463 ​ $ 10,833 ​ $ 11,776 ​ $ 10,701 ​ Additions for new sales ​ 3,066 ​ 954 ​ 6,688 ​ 2,236 ​ Repurchases ​ (133) ​ (117) ​ (613) ​ (325) ​ Early payment defaults ​ (413) ​ (51) ​ (815) ​ (290) ​ Indemnification payments ​ - ​ (87) ​ (40) ​ (182) ​ Change in reserves for loans sold in prior years ​ - ​ (81) ​ 987 ​ (689) ​ Balance, end of period ​ $ 17,983 ​ $ 11,451 ​ $ 17,983 ​ $ 11,451 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ Reserve for Indemnification Liability: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specific claims ​ $ 1,426 ​ $ 1,071 ​ ​ ​ ​ ​ ​ ​ Incurred but not reported claims ​ 16,557 ​ 10,705 ​ ​ ​ ​ ​ ​ ​ Total ​ $ 17,983 ​ $ 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	9 Months Ended
	Sep. 30, 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 September 30, 2020 and outstanding financial and performance standby letters of credit of $90.1 million at September 30, 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 ​ 2020 2019 Balance, beginning of period ​ $ 9,031 ​ $ 2,263 ​ $ 2,075 ​ $ 2,366 Transition adjustment CECL accounting standard ​ ​ — ​ ​ — ​ ​ 3,837 ​ ​ — Other noninterest expense ​ ​ 287 ​ ​ (77) ​ ​ 3,406 ​ ​ (180) Balance, end of period ​ $ 9,318 ​ $ 2,186 ​ $ 9,318 ​ $ 2,186 ​ As previously discussed, the Company adopted the new CECL standard and recorded a transition adjustment entry that resulted in an allowance for credit losses of $5.9 million as of January 1, 2020. During the three and nine months ended September 30, 2020, the increases in the reserve for unfunded commitments were primarily due to the macroeconomic uncertainties associated with the impact of the market disruption caused by COVID-19 conditions. ​ 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	9 Months Ended
	Sep. 30, 2020
Stock-Based Compensation
Stock-Based Compensation	15. Stock-Based Compensation ​ Since 2012, the Company has issued stock-based incentive awards pursuant to the Hilltop Holdings Inc. 2012 Equity Incentive Plan (the “2012 Plan”). In July 2020, pursuant to stockholders’ approval, the Company adopted the Hilltop Holdings Inc. 2020 Equity Incentive Plan (the “2020 Plan”). The 2020 Plan serves as successor to the 2012 Plan. The 2012 Plan and the 2020 Plan are referred to collectively as “the Equity Plans.” The Equity Plans provide for the grant of 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. Shares available for grant under the 2012 Plan that were reserved but not issued as of the effective date of the 2020 Plan were added to the reserves of the 2020 Plan. No additional awards may be made under the 2012 Plan following the effective date of the 2020 Plan, but the 2012 Plan remains in effect as to outstanding awards. Outstanding awards under the Equity Plans continue to be subject to the terms and conditions of the respective plans. The number of shares authorized for issuance pursuant to awards under the 2020 Plan is 3,650,000 plus any shares that become available upon the forfeiture, expiration, cancellation or settlement in cash of awards outstanding under the 2012 Plan as of April 30, 2020. At September 30, 2020, 3,514,437 shares of common stock remained available for issuance pursuant to awards granted under the 2020 Plan, excluding shares that may be delivered pursuant to outstanding awards. Compensation expense related to the Equity Plans was $3.9 million and $3.1 million during the three months ended September 30, 2020 and 2019, respectively, and $11.0 million and $8.1 million during the nine months ended September 30, 2020 and 2019, respectively. ​ During the nine months ended September 30, 2020 and 2019, Hilltop granted 25,817 and 20,806 shares of common stock, respectively, pursuant to the Equity Plans 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 nine months ended September 30, 2020 (shares in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ Outstanding Fair Value Balance, December 31, 2019 ​ 1,437 ​ $ 22.64 ​ Granted ​ 690 ​ $ 21.66 ​ Vested/Released ​ (350) ​ $ 26.83 ​ Forfeited ​ (24) ​ $ 22.48 Balance, September 30, 2020 ​ 1,753 ​ $ 21.42 ​ Vested/Released RSUs include an aggregate of 57,873 shares withheld to satisfy employee statutory tax obligations during the nine months ended September 30, 2020. Pursuant to certain RSU award agreements, an aggregate of 5,482 vested RSUs at September 30, 2020 require deferral of the settlement in shares and statutory tax obligations to a future date. ​ During the nine months ended September 30, 2020, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 675,805 RSUs pursuant to the Equity Plans. Of the RSUs granted during the nine months ended September 30, 2020, 550,673 that were outstanding at September 30, 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 nine months ended September 30, 2020, 122,232 that were outstanding at September 30, 2020 ​ At September 30, 2020, in the aggregate, 1,463,271 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 September 30, 2020 ​ Employee Stock Purchase Plan ​ In July 2020, pursuant to stockholders’ approval, the Company adopted the Hilltop Holdings Inc. Employee Stock Purchase Plan (the “ESPP”) to provide a means for eligible employees of the Company to purchase shares of Hilltop common stock at a discounted price by accumulating funds, normally through payroll deductions and is intended to qualify under Section 423 of the Internal Revenue Code. The initial offering period will commence January 1, 2021.

Regulatory Matters

Regulatory Matters	9 Months Ended
	Sep. 30, 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 September 30, 2020 reflect PlainsCapital’s and Hilltop’s decision to elect the transition option as 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,382,293 10.19 % 4.0 % 5.0 % Hilltop ​ 2,193,424 13.03 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,382,293 14.64 % 7.0 % 6.5 % Hilltop ​ ​ 2,128,424 19.85 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,382,293 14.64 % 8.5 % 8.0 % Hilltop ​ 2,193,424 20.46 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,462,750 15.49 % 10.5 % 10.0 % Hilltop ​ 2,488,900 23.22 % 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 September 30, 2020, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HTS ​ ​ ​ Hilltop ​ Independent ​ ​ Securities Network Net capital ​ $ 310,559 ​ $ 3,366 ​ Less: required net capital ​ ​ 7,427 ​ ​ 250 ​ Excess net capital ​ $ 303,132 ​ $ 3,116 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net capital as a percentage of aggregate debit items ​ ​ 83.6 % ​ ​ ​ Net capital in excess of 5% aggregate debit items ​ $ 291,991 ​ ​ ​ ​ ​ 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 September 30, 2020 and December 31, 2019, the Hilltop Broker-Dealers held cash of $221.6 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 September 30, 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 September 30, 2020, PrimeLending and its subsidiaries’ net worth and liquidity exceeded the amounts required by both HUD and GNMA, as applicable, with one exception. The net worth of an ABA that was divested by PrimeLending on October 1, 2020, did not meet the HUD net worth requirements as of September 30, 2020. This instance and the divestiture have been reported to HUD.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity
Stockholders' Equity	17. Stockholders’ Equity ​ Dividends ​ During the nine months ended September 30, 2020 and 2019, the Company declared and paid cash dividends of $0.27 and $0.24 per common share, or an aggregate of $24.4 million and $22.4 million, respectively. ​ On October 22, 2020, Hilltop’s board of directors declared a quarterly cash dividend of $0.09 per common share, payable on November 30, 2020, to all common stockholders of record as of the close of business on November 16, 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 nine months ended September 30, 2020, the Company paid $15.2 ​ As previously announced on April 30, 2020, in light of the uncertain outlook for 2020 due to the COVID-19 pandemic, Hilltop’s board of directors 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. ​ Tender Offer On September 23, 2020, the Company announced the commencement of a modified “Dutch auction” tender offer to purchase shares of its common stock for an aggregate cash purchase price of up to $350 million and at a per share price not less than $18.25 and not more than $21.00, net to the seller in cash, less any applicable tax withholding and without interest, upon the terms and subject to the conditions described in the tender offer documentation. Unless the offer is extended or terminated, the tender offer is scheduled to expire at the end of the day on October 30, 2020. The Federal Reserve has informed the Company that it is has no objection to the tender offer. ​

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 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 September 30, ​ Nine Months Ended September 30, ​ ​ 2020 2019 2020 2019 Increase (decrease) in fair value of derivatives during period: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PrimeLending ​ $ 23,286 ​ $ 5,881 ​ $ 90,429 ​ $ 23,285 Hilltop Broker-Dealers ​ ​ (3,542) ​ ​ (5,984) ​ ​ 8,466 ​ ​ 4,790 Bank ​ ​ 118 ​ ​ (25) ​ ​ (17) ​ ​ (171) ​ Derivative positions are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ Notional Estimated Notional Estimated ​ ​ Amount ​ Fair Value ​ Amount ​ Fair Value Derivative instruments (not designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLCs ​ $ 3,513,711 ​ $ 115,699 ​ $ 914,526 ​ $ 18,222 Customer-based written options ​ — ​ — ​ 31,200 ​ — Customer-based purchased options ​ — ​ — ​ 31,200 ​ — Commitments to purchase MBSs ​ 2,645,029 ​ 9,238 ​ 3,346,946 ​ 3,321 Commitments to sell MBSs ​ ​ 7,470,095 ​ (8,277) ​ 5,988,198 ​ (5,904) Interest rate swaps ​ ​ 51,122 ​ (70) ​ 15,012 ​ (178) U.S. Treasury bond futures and options (1) ​ ​ 160,400 ​ — ​ 283,500 ​ — Eurodollar futures (1) ​ ​ 12,000 ​ — ​ 934,000 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments (designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as cash flow hedges ​ $ 105,000 ​ $ (3,689) ​ $ 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. ​ The increase in the estimated fair value of the IRLCs at September 30, 2020, compared to December 31, 2019, was driven by the accelerated decrease in mortgage interest rates during the nine months ended September 30, 2020 triggered by the economic impact of the COVID-19 pandemic, and an increase in the average value of individual IRLCs. The increase in average value of individual IRLCs was primarily driven by PrimeLending managing increased loan origination volumes to a level that could be supported by its loan fulfillment operations and addressing anticipated enhanced credit and liquidity risks triggered by the economic impact of the COVID-19 pandemic. ​ PrimeLending had cash collateral advances totaling $15.5 million and $4.5 million to offset net liability derivative positions on its commitments to sell MBSs at September 30, 2020 and December 31, 2019, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers advanced cash collateral totaling $1.9 million and $3.7 million on U.S. Treasury bond futures and options and Eurodollar futures at September 30, 2020 and December 31, 2019, respectively. These amounts are included in other assets within the consolidated balance sheets.

Balance Sheet Offsetting

Balance Sheet Offsetting	9 Months Ended
	Sep. 30, 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities borrowed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,285,509 ​ $ — ​ $ 1,285,509 ​ $ (1,235,409) ​ $ — ​ $ 50,100 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 13 ​ ​ — ​ ​ 13 ​ ​ (13) ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reverse repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 90,103 ​ ​ — ​ ​ 90,103 ​ ​ (89,111) ​ ​ — ​ ​ 992 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 11,848 ​ — ​ 11,848 ​ (11,848) ​ — ​ — ​ ​ $ 1,387,473 ​ $ — ​ $ 1,387,473 ​ $ (1,336,381) ​ $ — ​ $ 51,092 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities loaned: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,177,098 ​ $ — ​ $ 1,177,098 ​ $ (1,129,147) ​ $ — ​ $ 47,951 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 83 ​ — ​ 83 ​ — ​ — ​ 83 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 261,703 ​ — ​ 261,703 ​ (261,703) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 12,601 ​ (1,714) ​ 10,887 ​ — ​ — ​ 10,887 ​ ​ $ 1,451,485 ​ $ (1,714) ​ $ 1,449,771 ​ $ (1,390,850) ​ $ — ​ $ 58,921 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 September 30, 2020 and December 31, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining Contractual Maturities ​ ​ Overnight and ​ ​ ​ ​ ​ Greater Than ​ ​ ​ September 30, 2020 ​ Continuous ​ Up to 30 Days ​ 30-90 Days ​ 90 Days ​ Total Repurchase agreement transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-backed securities ​ $ 157,890 ​ $ 96,720 ​ $ 7,093 ​ $ — ​ $ 261,703 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities lending transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate securities ​ ​ 113 ​ ​ — ​ ​ — ​ ​ — ​ ​ 113 Equity securities ​ ​ 1,176,985 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,176,985 Total ​ $ 1,334,988 ​ $ 96,720 ​ $ 7,093 ​ $ — ​ $ 1,438,801 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above ​ ​ ​ ​ $ 1,438,801 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	9 Months Ended
	Sep. 30, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 Receivables: ​ ​ ​ ​ ​ ​ ​ Securities borrowed ​ $ 1,285,509 ​ $ 1,634,782 ​ Securities failed to deliver ​ 74,650 ​ 18,726 ​ Trades in process of settlement ​ — ​ 104,922 ​ Other ​ 3,319 ​ 21,850 ​ ​ ​ $ 1,363,478 ​ $ 1,780,280 ​ Payables: ​ ​ ​ ​ ​ ​ ​ Securities loaned ​ $ 1,177,098 ​ $ 1,555,964 ​ Correspondents ​ 36,928 ​ 37,036 ​ Securities failed to receive ​ 68,365 ​ 8,568 ​ Trades in process of settlement ​ 23,628 ​ — ​ Other ​ 4,816 ​ 3,950 ​ ​ ​ $ 1,310,835 ​ $ 1,605,518 ​ ​

Segment and Related Information

Segment and Related Information	9 Months Ended
	Sep. 30, 2020
Segment and Related Information
Segment and Related Information	21. Segment and Related Information ​ The Company currently has three 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 and the mortgage origination segment is composed of PrimeLending. ​ As discussed in Note 3 to the consolidated financial statements, during the first quarter of 2020, management had determined that the insurance segment met the criteria to be presented as discontinued operations. On June 30, 2020, Hilltop completed the sale of NLC. Accordingly, insurance segment results and its assets and liabilities have been presented as discontinued operations 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 September 30, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 96,416 ​ $ 8,168 ​ $ (2,349) ​ $ — ​ $ (4,594) ​ $ 4,259 ​ $ 101,900 ​ Provision for (reversal of) credit losses ​ — ​ ​ (602) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ (602) ​ Noninterest income ​ 9,819 ​ ​ 141,022 ​ ​ 355,471 ​ ​ — ​ ​ 477 ​ ​ (4,078) ​ 502,711 ​ Noninterest expense ​ 55,980 ​ 114,393 ​ 207,176 ​ ​ — ​ ​ 21,999 ​ ​ (203) ​ 399,345 ​ Income (loss) from continuing operations before taxes ​ ​ 50,255 ​ ​ 35,399 ​ ​ 145,946 ​ ​ — ​ ​ (26,116) ​ ​ 384 ​ ​ 205,868 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 736 ​ ​ — ​ ​ 736 ​ ​ ​ $ 50,255 ​ $ 35,399 ​ $ 145,946 ​ $ — ​ $ (25,380) ​ $ 384 ​ $ 206,604 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop ​ Nine Months Ended September 30, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated ​ Net interest income (expense) ​ $ 284,440 ​ $ 31,005 ​ $ (3,647) ​ $ — ​ $ (9,482) ​ $ 14,478 ​ $ 316,794 ​ Provision for credit losses ​ 99,875 ​ ​ 98 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 99,973 ​ Noninterest income ​ 29,246 ​ ​ 350,192 ​ ​ 874,926 ​ ​ — ​ ​ 3,315 ​ ​ (15,130) ​ 1,242,549 ​ Noninterest expense ​ 169,569 ​ 299,743 ​ 547,222 ​ ​ — ​ ​ 35,741 ​ ​ (820) ​ 1,051,455 ​ Income (loss) from continuing operations before taxes ​ ​ 44,242 ​ ​ 81,356 ​ ​ 324,057 ​ ​ — ​ ​ (41,908) ​ ​ 168 ​ ​ 407,915 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,103 ​ ​ 33,077 ​ ​ — ​ ​ 35,180 ​ ​ ​ $ 44,242 ​ $ 81,356 ​ $ 324,057 ​ $ 2,103 ​ $ (8,831) ​ $ 168 ​ $ 443,095 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Three Months Ended September 30, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 97,642 ​ $ 13,724 ​ $ (2,725) ​ $ — ​ $ (1,384) ​ $ 5,389 ​ $ 112,646 ​ Provision for credit losses ​ — ​ ​ 47 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 47 ​ Noninterest income ​ 8,856 ​ ​ 107,742 ​ ​ 194,857 ​ ​ — ​ ​ 460 ​ ​ (5,410) ​ 306,505 ​ Noninterest expense ​ 53,767 ​ 94,411 ​ 160,634 ​ ​ — ​ ​ 12,561 ​ ​ (187) ​ 321,186 ​ Income (loss) from continuing operations before taxes ​ ​ 52,731 ​ ​ 27,008 ​ ​ 31,498 ​ ​ — ​ ​ (13,485) ​ ​ 166 ​ ​ 97,918 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,539 ​ ​ — ​ ​ — ​ ​ 6,539 ​ ​ ​ $ 52,731 ​ $ 27,008 ​ $ 31,498 ​ $ 6,539 ​ $ (13,485) ​ $ 166 ​ $ 104,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Nine Months Ended September 30, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 283,755 ​ $ 37,984 ​ $ (4,224) ​ $ — ​ $ (4,045) ​ $ 14,749 ​ $ 328,219 ​ Provision for (reversal of) credit losses ​ 355 ​ ​ (29) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 326 ​ Noninterest income ​ 30,219 ​ ​ 304,607 ​ ​ 477,438 ​ ​ — ​ ​ 1,820 ​ ​ (14,913) ​ 799,171 ​ Noninterest expense ​ 172,744 ​ 277,088 ​ 417,032 ​ ​ — ​ ​ 37,397 ​ ​ (240) ​ 904,021 ​ Income (loss) from continuing operations before taxes ​ ​ 140,875 ​ ​ 65,532 ​ ​ 56,182 ​ ​ — ​ ​ (39,622) ​ ​ 76 ​ ​ 223,043 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,519 ​ ​ — ​ ​ — ​ ​ 10,519 ​ ​ ​ $ 140,875 ​ $ 65,532 ​ $ 56,182 ​ $ 10,519 ​ $ (39,622) ​ $ 76 ​ $ 233,562 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop ​ ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 13,380,146 ​ $ 3,098,564 ​ $ 2,983,663 ​ $ — ​ $ 2,938,698 ​ $ (5,465,519) ​ $ 16,935,552 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets of discontinued operations ​ $ — ​ $ — ​ $ — ​ $ 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	9 Months Ended
	Sep. 30, 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 or nine months ended September 30, 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 and nine months ended September 30, 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ ​ 152,543 ​ $ 74,157 ​ $ 296,729 ​ $ 167,648 ​ Income from discontinued operations ​ ​ 736 ​ ​ 5,261 ​ ​ 34,662 ​ ​ 8,367 ​ Income attributable to Hilltop ​ $ 153,279 ​ $ 79,418 ​ $ 331,391 ​ $ 176,015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,200 ​ 91,745 ​ 90,291 ​ 92,931 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 1.69 ​ $ 0.81 ​ $ 3.29 ​ $ 1.80 ​ Income from discontinued operations ​ ​ 0.01 ​ ​ 0.06 ​ ​ 0.38 ​ ​ 0.09 ​ ​ ​ $ 1.70 ​ $ 0.87 ​ $ 3.67 ​ $ 1.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 152,543 ​ $ 74,157 ​ $ 296,729 ​ $ 167,648 ​ Income from discontinued operations ​ ​ 736 ​ ​ 5,261 ​ ​ 34,662 ​ ​ 8,367 ​ Income attributable to Hilltop ​ $ 153,279 ​ $ 79,418 ​ $ 331,391 ​ $ 176,015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,200 ​ 91,745 ​ 90,291 ​ 92,931 ​ Effect of potentially dilutive securities ​ — ​ ​ 79 ​ — ​ 28 ​ Weighted average shares outstanding - diluted ​ 90,200 ​ 91,824 ​ 90,291 ​ 92,959 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 1.69 ​ $ 0.81 ​ $ 3.29 ​ $ 1.80 ​ Income from discontinued operations ​ ​ 0.01 ​ ​ 0.05 ​ ​ 0.38 ​ ​ 0.09 ​ ​ ​ $ 1.70 ​ $ 0.86 ​ $ 3.67 ​ $ 1.89 ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	9 Months Ended
	Sep. 30, 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 and mortgage origination subsidiaries. ​ On June 30, 2020, Hilltop completed the sale of all of the outstanding capital stock of National Lloyds Corporation (“NLC”), which comprises the operations of the insurance segment, for cash proceeds of $154.1 million, subject to post-closing adjustments. Accordingly, NLC’s results and its assets and liabilities have been presented as discontinued operations in the consolidated financial statements. For further details, see Note 3 to the consolidated financial statements. ​ The Company, headquartered in Dallas, Texas, provides its products and services through its two remaining primary business units included within continuing operations, PlainsCapital Corporation (“PCC”) and Hilltop Securities Holdings LLC (“Securities Holdings”). 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. ​ As a result of the spread of the novel coronavirus (“COVID-19”) pandemic, economic uncertainties continue to adversely impact the global economy and have 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. Many of these businesses reopened but may be operating at limited capacity. 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. 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. ​
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, the mortgage loan indemnification liability, and the potential impairment of goodwill and identifiable intangible assets are particularly subject to change. As a result of the sale of NLC on June 30, 2020, the reserve for losses and loss adjustment expenses (“LAE”) is not a significant accounting estimate. 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” and collectively with Hilltop Securities, 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. Hilltop Securities, HTS Independent Network and Hilltop Securities Asset Management, LLC are registered investment advisers under the Investment Advisers Act of 1940. ​ 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 and its assets and liabilities as discontinued operations. 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, which sets forth a “current expected credit loss” model, 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 ​ 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. For 1-4 family residential 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 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. 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. 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. ​ 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 maintenance practical expedient. The collateral maintenance 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 company’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 is primarily 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)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations
Schedule of discontinued operations	​ ​ ​ ​ ​ ​ ​ December 31, ​ 2019 Assets ​ ​ ​ Cash and due from banks ​ $ 51,333 Securities: ​ ​ ​ Available for sale, at fair value ​ ​ 86,899 Equity, at fair value ​ ​ 19,841 ​ ​ ​ 106,740 ​ ​ ​ ​ Premises and equipment, net ​ ​ 9,607 Operating lease right-of-use assets ​ ​ 2,739 Other assets ​ ​ 50,533 Goodwill ​ ​ 23,988 Other intangible assets, net ​ ​ 3,489 Total assets of discontinued operations ​ $ 248,429 ​ ​ ​ ​ Liabilities ​ ​ ​ Notes payable ​ $ 27,500 Operating lease liabilities ​ ​ 2,783 Other liabilities ​ ​ 110,391 Total liabilities of discontinued operations ​ $ 140,674 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 2019 ​ 2020 ​ 2019 Interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Taxable ​ $ — ​ $ 879 ​ $ 1,752 ​ $ 2,745 Other ​ ​ — ​ ​ 137 ​ ​ 71 ​ ​ 429 Total interest income ​ ​ — ​ ​ 1,016 ​ ​ 1,823 ​ ​ 3,174 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes payable ​ ​ — ​ ​ 450 ​ ​ 775 ​ ​ 1,374 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net insurance premiums earned ​ ​ — ​ ​ 32,654 ​ ​ 65,077 ​ ​ 99,323 Other ​ ​ — ​ ​ 2,242 ​ ​ 3,051 ​ ​ 8,246 Total noninterest income ​ ​ — ​ ​ 34,896 ​ ​ 68,128 ​ ​ 107,569 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employees' compensation and benefits ​ ​ — ​ ​ 2,748 ​ ​ 6,002 ​ ​ 8,734 Occupancy and equipment, net ​ ​ — ​ ​ 200 ​ ​ 464 ​ ​ 725 Professional services ​ ​ — ​ ​ 8,874 ​ ​ 18,201 ​ ​ 27,687 Loss and loss adjustment expenses ​ ​ — ​ ​ 14,677 ​ ​ 38,419 ​ ​ 54,584 Other ​ ​ — ​ ​ 2,424 ​ ​ 3,987 ​ ​ 7,120 Total noninterest expense ​ ​ — ​ ​ 28,923 ​ ​ 67,073 ​ ​ 98,850 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from discontinued operations before income taxes ​ ​ — ​ ​ 6,539 ​ ​ 2,103 ​ ​ 10,519 Gain on disposal of discontinued operations ​ ​ 736 ​ ​ — ​ ​ 33,077 ​ ​ — Income tax expense ​ ​ — ​ ​ 1,278 ​ ​ 518 ​ ​ 2,152 Income from discontinued operations, net of income taxes ​ $ 736 ​ $ 5,261 ​ $ 34,662 ​ $ 8,367
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 September 30, ​ Nine Months Ended September 30, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ Written Earned Written Earned Written Earned Written Earned Premiums from direct business ​ $ — ​ $ — ​ $ 31,269 ​ $ 31,698 ​ $ 63,811 ​ $ 61,384 ​ $ 97,621 ​ $ 95,161 ​ Reinsurance assumed ​ — ​ — ​ 3,440 ​ 3,289 ​ 6,396 ​ 6,452 ​ 10,191 ​ 9,736 ​ Reinsurance ceded ​ — ​ — ​ (2,333) ​ (2,333) ​ (2,759) ​ (2,759) ​ (5,574) ​ (5,574) ​ Net premiums ​ $ — ​ $ — ​ $ 32,376 ​ $ 32,654 ​ $ 67,448 ​ $ 65,077 ​ $ 102,238 ​ $ 99,323 ​
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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 Losses and LAE incurred ​ $ — ​ $ 14,508 ​ $ 38,225 ​ $ 53,450 ​ Reinsurance recoverables ​ — ​ 169 ​ 194 ​ 1,134 ​ Net loss and LAE incurred ​ $ — ​ $ 14,677 ​ $ 38,419 ​ $ 54,584 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2020 ​ Inputs ​ Inputs ​ Inputs ​ Fair Value Trading securities ​ $ 20,859 ​ $ 646,892 ​ $ — ​ $ 667,751 ​ Available for sale securities ​ ​ — ​ ​ 1,310,240 ​ ​ — ​ ​ 1,310,240 ​ Equity securities ​ ​ 117 ​ ​ — ​ ​ — ​ ​ 117 ​ Loans held for sale ​ ​ — ​ ​ 2,272,002 ​ ​ 72,186 ​ ​ 2,344,188 ​ Derivative assets ​ ​ — ​ ​ 169,005 ​ ​ — ​ ​ 169,005 ​ MSR asset ​ ​ — ​ ​ — ​ ​ 127,712 ​ ​ 127,712 ​ Securities sold, not yet purchased ​ ​ 32,178 ​ ​ 23,845 ​ ​ — ​ ​ 56,023 ​ Derivative liabilities ​ ​ — ​ ​ 56,104 ​ ​ — ​ ​ 56,104 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 91,936 ​ $ 5,338 ​ $ (20,182) ​ $ 1,097 ​ $ (6,003) ​ $ — ​ $ 72,186 ​ MSR asset ​ 81,264 ​ ​ 59,351 ​ ​ — ​ ​ — ​ ​ (12,903) ​ ​ — ​ 127,712 ​ Total ​ $ 173,200 ​ $ 64,689 ​ $ (20,182) ​ $ 1,097 ​ $ (18,906) ​ $ — ​ $ 199,898 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 67,195 ​ $ 53,961 ​ $ (51,125) ​ $ 10,064 ​ $ (7,909) ​ $ — ​ $ 72,186 ​ MSR asset ​ ​ 55,504 ​ ​ 123,266 ​ ​ (18,650) ​ ​ — ​ ​ (32,408) ​ ​ — ​ ​ 127,712 ​ Total ​ $ 122,699 ​ $ 177,227 ​ $ (69,775) ​ $ 10,064 ​ $ (40,317) ​ $ — ​ $ 199,898 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 56,799 ​ $ 15,347 ​ $ (9,364) ​ $ 711 ​ $ (2,589) ​ $ — ​ $ 60,904 ​ MSR asset ​ ​ 53,695 ​ ​ 4,166 ​ ​ — ​ ​ — ​ ​ (6,564) ​ ​ — ​ ​ 51,297 ​ Total ​ $ 110,494 ​ $ 19,513 ​ $ (9,364) ​ $ 711 ​ $ (9,153) ​ $ — ​ $ 112,201 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 50,464 ​ $ 44,827 ​ $ (27,448) ​ ​ 1,136 ​ $ (8,075) ​ $ — ​ $ 60,904 ​ MSR asset ​ ​ 66,102 ​ ​ 8,574 ​ ​ — ​ ​ — ​ ​ (23,379) ​ ​ — ​ ​ 51,297 ​ Total ​ $ 116,566 ​ $ 53,401 ​ $ (27,448) ​ $ 1,136 ​ $ (31,454) ​ $ — ​ $ 112,201 ​ ​
Schedule of significant unobservable inputs used in the fair value measurements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Range (Weighted-Average) ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Financial instrument Valuation Technique Unobservable Inputs 2020 ​ 2019 Loans ​ Market comparable ​ Projected price ​ 88 - 96 % ( 95 %) ​ 92 - 96 % ( 95 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MSR asset ​ Discounted cash flows ​ Constant prepayment rate ​ ​ ​ ​ 12.97 % ​ ​ ​ ​ ​ 13.16 % ​ ​ ​ ​ ​ Discount rate ​ ​ ​ ​ 14.65 % ​ ​ ​ ​ ​ 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 September 30, 2020 ​ Three Months Ended September 30, 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 ​ $ (9,167) ​ $ — ​ $ (9,167) ​ $ 4,117 ​ $ — ​ $ 4,117 ​ MSR asset ​ (12,903) ​ — ​ (12,903) ​ (6,564) ​ — ​ (6,564) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 ​ Nine Months Ended September 30, 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 ​ $ 49,311 ​ $ — ​ $ 49,311 ​ $ 7,972 ​ $ — ​ $ 7,972 ​ MSR asset ​ (32,408) ​ — ​ (32,408) ​ (23,379) ​ — ​ (23,379) ​
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 ​ ​ September 30, 2020 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,278,285 ​ $ 1,278,285 ​ $ — ​ $ — ​ $ 1,278,285 ​ Assets segregated for regulatory purposes ​ ​ 221,621 ​ ​ 221,621 ​ ​ — ​ ​ — ​ ​ 221,621 ​ Securities purchased under agreements to resell ​ ​ 90,103 ​ ​ — ​ ​ 90,103 ​ ​ — ​ ​ 90,103 ​ Held to maturity securities ​ ​ 323,299 ​ ​ — ​ ​ 338,929 ​ ​ — ​ ​ 338,929 ​ Loans held for sale ​ ​ 203,787 ​ ​ — ​ ​ 203,787 ​ ​ — ​ ​ 203,787 ​ Loans held for investment, net ​ ​ 7,790,346 ​ ​ — ​ ​ 502,295 ​ ​ 7,388,992 ​ ​ 7,891,287 ​ Broker-dealer and clearing organization receivables ​ 1,363,478 ​ — ​ 1,363,478 ​ — ​ 1,363,478 ​ Other assets ​ 73,173 ​ — ​ 71,628 ​ 1,545 ​ 73,173 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 11,261,915 ​ — ​ 11,280,154 ​ — ​ 11,280,154 ​ Broker-dealer and clearing organization payables ​ 1,310,835 ​ — ​ 1,310,835 ​ — ​ 1,310,835 ​ Short-term borrowings ​ 780,109 ​ — ​ 780,109 ​ — ​ 780,109 ​ Debt ​ 463,018 ​ — ​ 463,018 ​ — ​ 463,018 ​ Other liabilities ​ 13,885 ​ — ​ 13,885 ​ — ​ 13,885 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 ​ 2020 2019 Balance, beginning of period $ 20,613 $ 19,906 ​ $ 19,771 $ 20,376 Additional investments ​ ​ — ​ ​ — ​ ​ — ​ ​ — Upward adjustments ​ ​ 2,221 ​ ​ 101 ​ ​ 3,852 ​ ​ 303 Impairments and downward adjustments ​ ​ (826) ​ ​ (346) ​ ​ (1,615) ​ ​ (1,018) Dispositions ​ — ​ — ​ — ​ — Balance, end of period ​ $ 22,008 ​ $ 19,661 ​ $ 22,008 ​ $ 19,661

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Securities
Summary of trading securities	The fair value of trading securities is summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2020 2019 U.S. Treasury securities $ 20,859 $ — U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ ​ 51,707 ​ ​ 24,680 ​ ​ Residential mortgage-backed securities ​ 13,951 ​ 331,601 ​ ​ Commercial mortgage-backed securities ​ 891 ​ 2,145 ​ ​ Collateralized mortgage obligations ​ ​ 372,219 ​ ​ 191,154 ​ ​ Corporate debt securities ​ ​ 62,837 ​ ​ 36,973 ​ ​ States and political subdivisions ​ ​ 135,068 ​ ​ 93,117 ​ ​ Unit investment trusts ​ ​ — ​ ​ 3,468 ​ ​ Private-label securitized product ​ ​ 6,752 ​ ​ 2,992 ​ ​ Other ​ ​ 3,467 ​ ​ 3,446 ​ ​ Totals ​ $ 667,751 ​ $ 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 ​ ​ ​ September 30, 2020 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 56,781 ​ $ 1,204 ​ $ (45) ​ $ 57,940 ​ Residential mortgage-backed securities ​ 579,725 ​ 17,553 ​ (285) ​ 596,993 ​ Commercial mortgage-backed securities ​ ​ 63,570 ​ 926 ​ (204) ​ 64,292 ​ Collateralized mortgage obligations ​ 540,326 ​ 8,454 ​ (303) ​ 548,477 ​ States and political subdivisions ​ 40,018 ​ 2,520 ​ — ​ 42,538 ​ Totals ​ $ 1,280,420 ​ $ 30,657 ​ $ (837) ​ $ 1,310,240 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ September 30, 2020 Cost Gains Losses Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 14,659 ​ $ 790 ​ $ — ​ $ 15,449 Commercial mortgage-backed securities ​ ​ 153,318 ​ 10,245 ​ — ​ 163,563 Collateralized mortgage obligations ​ 84,670 ​ 2,288 ​ — ​ 86,958 States and political subdivisions ​ 70,652 ​ 2,321 ​ (14) ​ 72,959 Totals ​ $ 323,299 ​ $ 15,644 ​ $ (14) ​ $ 338,929 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 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 3 ​ $ 24,955 ​ $ 45 2 ​ $ 24,937 ​ $ 64 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 3 ​ ​ 24,955 ​ ​ 45 2 ​ 24,937 ​ 64 ​ Residential mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 6 ​ 58,891 ​ 285 37 ​ 36,187 ​ 87 ​ Unrealized loss for twelve months or longer — ​ — ​ — 2 ​ 13,683 ​ 58 ​ ​ 6 ​ ​ 58,891 ​ ​ 285 39 ​ 49,870 ​ 145 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 2 ​ 18,913 ​ 204 1 ​ 9,967 ​ 2 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 2 ​ ​ 18,913 ​ ​ 204 1 ​ 9,967 ​ 2 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 6 ​ 74,131 ​ 248 15 ​ 94,545 ​ 446 ​ Unrealized loss for twelve months or longer 5 ​ 14,659 ​ 55 13 ​ 46,217 ​ 369 ​ ​ 11 ​ ​ 88,790 ​ ​ 303 28 ​ 140,762 ​ 815 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — — ​ — ​ — ​ Unrealized loss for twelve months or longer — ​ — ​ — 1 ​ 487 ​ — ​ ​ — ​ ​ — ​ ​ — 1 ​ 487 ​ — ​ Total available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 17 ​ 176,890 ​ 782 55 ​ 165,636 ​ 599 ​ Unrealized loss for twelve months or longer 5 ​ 14,659 ​ 55 16 ​ 60,387 ​ 427 ​ ​ 22 ​ $ 191,549 ​ $ 837 71 ​ $ 226,023 ​ $ 1,026 ​
Schedule of information regarding held to maturity securities that were in an unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 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 — ​ — ​ — 4 ​ 23,904 ​ 287 ​ Unrealized loss for twelve months or longer — ​ — ​ — 8 ​ 59,560 ​ 617 ​ ​ — ​ — ​ — 12 ​ 83,464 ​ 904 ​ States and political subdivisions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 9 ​ 2,993 ​ 14 38 ​ 15,996 ​ 124 ​ Unrealized loss for twelve months or longer — ​ — ​ — 4 ​ 1,099 ​ 31 ​ ​ 9 ​ 2,993 ​ 14 42 ​ 17,095 ​ 155 ​ Total held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 9 ​ 2,993 ​ 14 52 ​ 94,175 ​ 1,102 ​ Unrealized loss for twelve months or longer — ​ — ​ — 12 ​ 60,659 ​ 648 ​ ​ 9 ​ $ 2,993 ​ $ 14 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 September 30, 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 ​ $ 4,994 ​ $ 5,097 ​ $ 651 ​ $ 654 ​ Due after one year through five years ​ 55,385 ​ 56,825 ​ 1,215 ​ 1,274 ​ Due after five years through ten years ​ 19,117 ​ 19,915 ​ 8,208 ​ 8,504 ​ Due after ten years ​ 17,303 ​ 18,641 ​ 60,578 ​ 62,527 ​ ​ ​ 96,799 ​ 100,478 ​ 70,652 ​ 72,959 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ 579,725 ​ 596,993 ​ 14,659 ​ 15,449 ​ Collateralized mortgage obligations ​ 540,326 ​ 548,477 ​ 84,670 ​ 86,958 ​ Commercial mortgage-backed securities ​ 63,570 ​ 64,292 ​ 153,318 ​ 163,563 ​ ​ ​ $ 1,280,420 ​ $ 1,310,240 ​ $ 323,299 ​ $ 338,929 ​

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	9 Months Ended
	Sep. 30, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 2019 ​ Commercial real estate ​ $ 3,073,038 ​ $ 3,000,523 ​ Commercial and industrial (1) ​ 2,848,289 ​ 2,025,720 ​ Construction and land development ​ 841,385 ​ 940,564 ​ 1-4 family residential ​ ​ 643,833 ​ 791,020 ​ Consumer ​ ​ 36,720 ​ 47,046 ​ Broker-dealer (2) ​ ​ 502,295 ​ 576,527 ​ ​ ​ 7,945,560 ​ 7,381,400 ​ Allowance for credit losses ​ (155,214) ​ (61,136) ​ Total loans held for investment, net of allowance ​ $ 7,790,346 ​ $ 7,320,264 ​ (1) Included loans totaling $670.7 million at September 30, 2020 funded through the Paycheck Protection Program. (2) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations. ​ ​
Summary of non-accrual loans by portfolio segment	The following table provides details associated with non-accrual loans, excluding those classified as held for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual Loans ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ Interest Income Recognized (1) ​ ​ With ​ With No ​ ​ ​ ​ December 31, ​ Three Months Ended ​ Nine Months Ended ​ Allowance Allowance Total ​ 2019 ​ September 30, 2020 ​ September 30, 2020 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 1,049 ​ $ 1,598 ​ $ 2,647 ​ $ 3,813 ​ $ 99 ​ $ 88 Owner occupied ​ 2,155 ​ ​ 9,277 ​ ​ 11,432 ​ ​ 3,495 ​ ​ 156 ​ ​ 241 Commercial and industrial ​ ​ 23,006 ​ ​ 15,702 ​ ​ 38,708 ​ ​ 15,262 ​ ​ 312 ​ ​ 714 Construction and land development ​ 105 ​ ​ 423 ​ ​ 528 ​ ​ 1,316 ​ ​ 36 ​ ​ 89 1-4 family residential ​ 6,205 ​ ​ 14,394 ​ ​ 20,599 ​ ​ 7,382 ​ ​ 134 ​ ​ 1,299 Consumer ​ 53 ​ ​ — ​ ​ 53 ​ ​ 26 ​ ​ 2 ​ ​ (1) Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 32,573 ​ $ 41,394 ​ $ 73,967 ​ $ 31,294 ​ $ 739 ​ $ 2,430 (1) Interest income recognized on non-accrual loans during the three and nine months ended September 30, 2019 was $0.3 million and $1.1 million, respectively.
Schedule of information regarding TDRs granted	There were no TDRs granted during the three months ended September 30, 2020, as compared to two commercial and industrial TDRs granted during the comparable period in 2019, with a balance of $1.6 million at date of extension and at September 30, 2019. Information regarding TDRs granted during the nine months ended September 30, 2020 and 2019, is shown in the following table (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 ​ Nine Months Ended September 30, 2019 ​ Number of Balance at Balance at Number of Balance at Balance at ​ ​ ​ Loans ​ Extension ​ End of Period ​ Loans ​ Extension ​ End of Period Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ ​ — ​ $ — ​ $ — ​ — ​ $ — ​ $ — Owner occupied ​ ​ — ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ ​ 2 ​ 7,839 ​ 3,166 ​ 5 ​ 9,632 ​ 9,113 Construction and land development ​ ​ — ​ — ​ — ​ — ​ — ​ — 1-4 family residential ​ ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ ​ — ​ — ​ — ​ — ​ — ​ — Broker-dealer ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ ​ 2 $ 7,839 $ 3,166 5 $ 9,632 $ 9,113
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 September 30, 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 ​ $ 2,389 ​ $ 2,876 ​ $ 200 ​ $ 5,465 ​ $ 1,749,896 ​ $ 1,755,361 ​ $ — ​ Owner occupied ​ 3,227 ​ 2,272 ​ ​ 6,267 ​ 11,766 ​ 1,305,911 ​ ​ 1,317,677 ​ ​ — ​ Commercial and industrial ​ ​ 1,953 ​ 3,271 ​ ​ 19,337 ​ 24,561 ​ 2,823,728 ​ ​ 2,848,289 ​ ​ 2 ​ Construction and land development ​ 2 ​ — ​ ​ — ​ 2 ​ 841,383 ​ ​ 841,385 ​ ​ — ​ 1-4 family residential ​ 3,600 ​ 3,404 ​ ​ 15,150 ​ 22,154 ​ 621,679 ​ ​ 643,833 ​ ​ — ​ Consumer ​ 12 ​ 251 ​ ​ 52 ​ 315 ​ 36,405 ​ ​ 36,720 ​ ​ — ​ Broker-dealer ​ — ​ — ​ ​ — ​ — ​ 502,295 ​ ​ 502,295 ​ ​ — ​ ​ ​ $ 11,183 ​ $ 12,074 ​ $ 41,006 ​ $ 64,263 ​ $ 7,881,297 ​ $ 7,945,560 ​ $ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2015 and ​ ​ ​ ​ ​ ​ September 30, 2020 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ ​ Prior ​ Revolving ​ Total Commercial real estate: non-owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 13,190 ​ $ 33,533 ​ $ 3,044 ​ $ 2,300 ​ $ 13,184 ​ $ 15,748 ​ $ 401 ​ $ 81,400 Internal Grade 4-7 (Pass normal risk) ​ ​ 211,586 ​ ​ 138,426 ​ ​ 118,655 ​ ​ 102,274 ​ ​ 124,166 ​ ​ 91,656 ​ ​ 32,904 ​ ​ 819,667 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 127,747 ​ ​ 160,637 ​ ​ 118,055 ​ ​ 91,650 ​ ​ 124,628 ​ ​ 62,187 ​ ​ 483 ​ ​ 685,387 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 30,756 ​ ​ 16,328 ​ ​ 27,592 ​ ​ 29,928 ​ ​ 30,808 ​ ​ 30,848 ​ ​ — ​ ​ 166,260 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,647 ​ ​ — ​ ​ 2,647 Commercial real estate: owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 46,605 ​ $ 32,541 ​ $ 10,711 ​ $ 42,978 ​ $ 24,894 ​ $ 39,509 ​ $ 1 ​ $ 197,239 Internal Grade 4-7 (Pass normal risk) ​ ​ 136,710 ​ ​ 161,028 ​ ​ 148,623 ​ ​ 64,900 ​ ​ 54,981 ​ ​ 94,698 ​ ​ 30,820 ​ ​ 691,760 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 95,828 ​ ​ 76,806 ​ ​ 47,453 ​ ​ 26,881 ​ ​ 29,485 ​ ​ 31,409 ​ ​ 927 ​ ​ 308,789 Internal Grade 12 (Special mention) ​ ​ 370 ​ ​ — ​ ​ 2,316 ​ ​ — ​ ​ — ​ ​ 538 ​ ​ — ​ ​ 3,224 Internal Grade 13 (Substandard accrual) ​ ​ 7,573 ​ ​ 3,588 ​ ​ 69,465 ​ ​ 7,717 ​ ​ 6,732 ​ ​ 10,158 ​ ​ — ​ ​ 105,233 Internal Grade 14 (Substandard non-accrual) ​ ​ 508 ​ ​ 2,248 ​ ​ 517 ​ ​ 5,361 ​ ​ 1,888 ​ ​ 910 ​ ​ — ​ ​ 11,432 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 32,808 ​ $ 16,361 ​ $ 5,850 ​ $ 12,387 ​ $ 4,315 ​ $ 87 ​ $ 16,874 ​ $ 88,682 Internal Grade 4-7 (Pass normal risk) ​ ​ 135,087 ​ ​ 76,615 ​ ​ 63,222 ​ ​ 26,560 ​ ​ 15,081 ​ ​ 13,306 ​ ​ 330,928 ​ ​ 660,799 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 76,601 ​ ​ 68,298 ​ ​ 29,181 ​ ​ 15,989 ​ ​ 30,392 ​ ​ 2,548 ​ ​ 197,296 ​ ​ 420,305 Internal Grade 12 (Special mention) ​ ​ 802 ​ ​ 16 ​ ​ 4,126 ​ ​ — ​ ​ 267 ​ ​ — ​ ​ 2,323 ​ ​ 7,534 Internal Grade 13 (Substandard accrual) ​ ​ 25,592 ​ ​ 4,553 ​ ​ 12,663 ​ ​ 6,327 ​ ​ 7,546 ​ ​ 358 ​ ​ 21,994 ​ ​ 79,033 Internal Grade 14 (Substandard non-accrual) ​ ​ 23,736 ​ ​ 6,906 ​ ​ 1,850 ​ ​ 350 ​ ​ 920 ​ ​ 3,538 ​ ​ 1,408 ​ ​ 38,708 Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 16,747 ​ $ 1,979 ​ $ 22,828 ​ $ 272 ​ $ 1,088 ​ $ 290 ​ $ 2,027 ​ $ 45,231 Internal Grade 4-7 (Pass normal risk) ​ ​ 147,952 ​ ​ 127,287 ​ ​ 66,772 ​ ​ 22,092 ​ ​ 6,100 ​ ​ 3,918 ​ ​ 36,221 ​ ​ 410,342 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 165,359 ​ ​ 107,915 ​ ​ 45,176 ​ ​ 25,883 ​ ​ 3,656 ​ ​ 929 ​ ​ 3,635 ​ ​ 352,553 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 3,088 ​ ​ 2,396 ​ ​ — ​ ​ 5,385 ​ ​ — ​ ​ 74 ​ ​ — ​ ​ 10,943 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 423 ​ ​ — ​ ​ — ​ ​ — ​ ​ 105 ​ ​ — ​ ​ 528 Construction and land development - individuals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — FICO between 620 and 720 ​ ​ 2,142 ​ ​ 82 ​ ​ 1,460 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,684 FICO greater than 720 ​ ​ 11,426 ​ ​ 279 ​ ​ 5,975 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 17,680 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other (1) ​ ​ 424 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 424 1-4 family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 991 ​ $ 851 ​ $ 3,679 ​ $ 57 ​ $ 931 ​ $ 34,503 ​ $ 532 ​ $ 41,544 FICO between 620 and 720 ​ ​ 15,184 ​ ​ 20,358 ​ ​ 10,077 ​ ​ 8,858 ​ ​ 12,689 ​ ​ 40,560 ​ ​ 1,317 ​ ​ 109,043 FICO greater than 720 ​ ​ 83,373 ​ ​ 97,176 ​ ​ 80,949 ​ ​ 44,821 ​ ​ 37,037 ​ ​ 77,530 ​ ​ 4,810 ​ ​ 425,696 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 97 ​ ​ 723 ​ ​ 19,779 ​ ​ — ​ ​ 20,599 Other (1) ​ ​ 9,080 ​ ​ 17,001 ​ ​ 8,491 ​ ​ 1,924 ​ ​ 1,103 ​ ​ 8,879 ​ ​ 473 ​ ​ 46,951 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 736 ​ $ 1,382 ​ $ 121 ​ $ 143 ​ $ 48 ​ $ 86 ​ $ 333 ​ $ 2,849 FICO between 620 and 720 ​ ​ 3,879 ​ ​ 3,044 ​ ​ 663 ​ ​ 718 ​ ​ 141 ​ ​ 94 ​ ​ 2,166 ​ ​ 10,705 FICO greater than 720 ​ ​ 5,334 ​ ​ 2,729 ​ ​ 3,235 ​ ​ 349 ​ ​ 87 ​ ​ 44 ​ ​ 4,511 ​ ​ 16,289 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 31 ​ ​ — ​ ​ 22 ​ ​ — ​ ​ 53 Other (1) ​ ​ 4,582 ​ ​ 1,686 ​ ​ 271 ​ ​ 51 ​ ​ 37 ​ ​ — ​ ​ 197 ​ ​ 6,824 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans with credit quality measures ​ $ 1,435,796 ​ $ 1,182,472 ​ $ 913,020 ​ $ 546,283 ​ $ 532,927 ​ $ 586,958 ​ $ 692,581 ​ $ 5,890,037 Commercial and industrial (mortgage warehouse lending) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 882,503 Commercial and industrial (Paycheck Protection Program loans) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 670,725 Broker-Dealer (margin loans and correspondent receivables) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 502,295 Total loans held for investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,945,560 (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 September 30, 2020 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 106,551 ​ $ — ​ $ (2,527) ​ $ (29) ​ $ 571 ​ $ 104,566 ​ Commercial and industrial ​ 31,863 ​ — ​ 7,274 ​ (1,341) ​ 382 ​ 38,178 ​ Construction and land development ​ 8,393 ​ — ​ (2,123) ​ — ​ — ​ 6,270 ​ 1-4 family residential ​ 7,399 ​ — ​ (2,213) ​ (144) ​ 10 ​ 5,052 ​ Consumer ​ ​ 1,429 ​ ​ — ​ ​ (411) ​ ​ (100) ​ ​ 84 ​ ​ 1,002 ​ Broker-dealer ​ ​ 748 ​ ​ — ​ ​ (602) ​ ​ — ​ ​ — ​ ​ 146 ​ Total ​ $ 156,383 ​ $ — ​ $ (602) ​ $ (1,614) ​ $ 1,047 ​ $ 155,214 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Nine Months Ended September 30, 2020 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 31,595 ​ $ 8,073 ​ $ 68,823 ​ $ (4,517) ​ $ 592 ​ $ 104,566 ​ Commercial and industrial ​ 17,964 ​ 3,193 ​ 30,896 ​ (15,325) ​ 1,450 ​ 38,178 ​ Construction and land development ​ 4,878 ​ 577 ​ 815 ​ (2) ​ 2 ​ 6,270 ​ 1-4 family residential ​ 6,386 ​ (29) ​ (813) ​ (517) ​ 25 ​ 5,052 ​ Consumer ​ ​ 265 ​ ​ 748 ​ ​ 154 ​ ​ (473) ​ ​ 308 ​ ​ 1,002 ​ Broker-dealer ​ ​ 48 ​ ​ — ​ ​ 98 ​ ​ — ​ ​ — ​ ​ 146 ​ Total ​ $ 61,136 ​ $ 12,562 ​ $ 99,973 ​ $ (20,834) ​ $ 2,377 ​ $ 155,214 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Three Months Ended September 30, 2019 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 25,114 ​ $ — ​ $ 757 ​ $ (9) ​ $ — ​ $ 25,862 ​ Commercial and industrial ​ 20,414 ​ — ​ (1,625) ​ (1,000) ​ 1,393 ​ 19,182 ​ Construction and land development ​ 4,396 ​ — ​ 392 ​ — ​ — ​ 4,788 ​ 1-4 family residential ​ 4,924 ​ — ​ 485 ​ (12) ​ 14 ​ 5,411 ​ Consumer ​ ​ 283 ​ ​ — ​ ​ (9) ​ ​ (12) ​ ​ 6 ​ ​ 268 ​ Broker-dealer ​ ​ 46 ​ ​ — ​ ​ 47 ​ ​ — ​ ​ — ​ ​ 93 ​ Total ​ $ 55,177 ​ $ — ​ $ 47 ​ $ (1,033) ​ $ 1,413 ​ $ 55,604 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on Balance, ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ End of ​ Nine Months Ended September 30, 2019 ​ Period ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ Period ​ Commercial real estate ​ $ 27,100 ​ $ — ​ $ (1,229) ​ $ (9) ​ $ — ​ $ 25,862 ​ Commercial and industrial ​ 21,980 ​ — ​ 87 ​ (5,247) ​ 2,362 ​ 19,182 ​ Construction and land development ​ 6,061 ​ — ​ (1,273) ​ — ​ — ​ 4,788 ​ 1-4 family residential ​ 3,956 ​ — ​ 2,321 ​ (911) ​ 45 ​ 5,411 ​ Consumer ​ ​ 267 ​ ​ — ​ ​ 449 ​ ​ (476) ​ ​ 28 ​ ​ 268 ​ Broker-dealer ​ ​ 122 ​ ​ — ​ ​ (29) ​ ​ — ​ ​ — ​ ​ 93 ​ Total ​ $ 59,486 ​ $ — ​ $ 326 ​ $ (6,643) ​ $ 2,435 ​ $ 55,604 ​

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2020
Mortgage Servicing Rights
Schedule of change in fair value of the Company's MSR asset	The following tables present the changes in fair value of the Company’s MSR asset and other information related to the serviced portfolio (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ 2020 ​ 2019 2020 ​ 2019 Balance, beginning of period $ 81,264 ​ $ 53,695 ​ $ 55,504 ​ $ 66,102 ​ Additions 59,351 ​ 4,166 ​ 123,266 ​ 8,574 ​ Sales — ​ — ​ (18,650) ​ — ​ Changes in fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Due to changes in model inputs or assumptions (1) (10,145) ​ (3,769) ​ (26,023) ​ (17,541) ​ Due to customer payoffs (2,758) ​ (2,795) ​ (6,385) ​ (5,838) ​ Balance, end of period $ 127,712 ​ $ 51,297 ​ $ 127,712 ​ $ 51,297 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ ​ ​ Mortgage loans serviced for others (2) $ 13,650,523 ​ $ 4,948,441 ​ ​ ​ ​ ​ ​ ​ MSR asset as a percentage of serviced mortgage loans 0.94 % 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. (2) Represents unpaid principal balance of mortgage loans serviced for others. ​
Schedule of key assumptions used in measuring the fair value of the Company's MSR	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Weighted average constant prepayment rate 12.97 % ​ 13.16 % Weighted average discount rate 14.65 % ​ 11.14 % Weighted average life (in years) 6.1 ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 2019 ​ Constant prepayment rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ $ (4,859) ​ $ (3,072) ​ Impact of 20% adverse change ​ (9,487) ​ (5,943) ​ Discount rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ (4,844) ​ (2,094) ​ Impact of 20% adverse change ​ (9,252) ​ (4,028) ​

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2020
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 2019 ​ Noninterest-bearing demand ​ $ 3,557,603 ​ $ 2,769,556 ​ Interest-bearing: ​ ​ ​ ​ ​ ​ ​ Demand accounts ​ 2,058,874 ​ 1,881,614 ​ Brokered - demand ​ 269,472 ​ — ​ Money market ​ 2,885,824 ​ 2,641,116 ​ Brokered - money market ​ 162,184 ​ 5,000 ​ Savings ​ 251,027 ​ 199,076 ​ Time ​ 1,505,225 ​ 1,505,375 ​ Brokered - time ​ 571,706 ​ 30,477 ​ ​ ​ $ 11,261,915 ​ $ 9,032,214 ​

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	9 Months Ended
	Sep. 30, 2020
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 Federal funds purchased ​ $ 149,150 ​ $ 81,625 ​ Securities sold under agreements to repurchase ​ 261,703 ​ 612,125 ​ Federal Home Loan Bank ​ — ​ 600,000 ​ Short-term bank loans ​ ​ 103,500 ​ ​ 111,000 ​ Commercial paper ​ 265,756 ​ 19,260 ​ ​ ​ $ 780,109 ​ $ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ Average balance during the period ​ $ 547,925 ​ $ 609,162 ​ ​ ​ ​ Average interest rate during the period ​ 1.03 % ​ 2.57 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ ​ Average interest rate at end of period ​ 0.30 % ​ 1.97 % ​ ​ ​ Securities underlying the agreements at end of period: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying value ​ $ 261,771 ​ $ 612,515 ​ ​ ​ ​ Estimated fair value ​ $ 279,403 ​ $ 661,023 ​ ​ ​ ​ ​
FHLB notes
Short-term borrowings
Schedule of short-term borrowings	The FHLB borrowings were fully paid during the three months ended September 30, 2020. Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Average balance during the period ​ $ 51,606 ​ $ 280,824 ​ ​ Average interest rate during the period ​ ​ 1.62 % ​ 2.34 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ ​ ​ ​ ​ 2020 ​ ​ 2019 ​ ​ Average interest rate at end of period ​ ​ — % ​ 1.56 % ​

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 Senior Notes due April 2025, net of discount of $1,107 and $1,232, respectively ​ $ 148,893 ​ $ 148,768 Subordinated Notes due May 2030, net of discount of $814 ​ ​ 49,186 ​ ​ — Subordinated Notes due May 2035, net of discount of $2,433 ​ ​ 147,567 ​ ​ — FHLB notes, including premium of $0 and $146, respectively ​ — ​ 28,848 Ventures Management lines of credit due August 2021 ​ ​ 50,360 ​ ​ 78,653 ​ ​ $ 396,006 ​ $ 256,269

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ ​ 2020 ​ ​ 2019 Finance leases: ​ ​ ​ ​ ​ ​ Premises and equipment ​ $ 7,780 ​ $ 7,780 Accumulated depreciation ​ ​ (4,620) ​ ​ (4,178) Premises and equipment, net ​ $ 3,160 ​ $ 3,602
Schedule of components of lease costs	The components of lease costs, including short-term lease costs, are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 Operating lease cost ​ $ 11,067 ​ $ 11,123 ​ $ 32,318 ​ $ 32,253 Less operating lease and sublease income ​ ​ (363) ​ ​ (846) ​ ​ (1,336) ​ ​ (1,897) Net operating lease cost ​ $ 10,704 ​ $ 10,277 ​ $ 30,982 ​ $ 30,356 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ $ 147 ​ $ 147 ​ $ 442 ​ $ 442 Interest on lease liabilities ​ ​ 139 ​ ​ 148 ​ ​ 424 ​ ​ 450 Total finance lease cost ​ $ 286 ​ $ 295 ​ $ 866 ​ $ 892
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 27,994 ​ $ 29,047 ​ Operating cash flows from finance leases ​ ​ 424 ​ ​ 450 ​ Financing cash flows from finance leases ​ ​ 472 ​ ​ 438 ​ Right-of-use assets obtained in exchange for new lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 8,773 ​ $ 25,951 ​ 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Weighted Average ​ ​ ​ Weighted Average ​ ​ ​ ​ Remaining Lease ​ Weighted Average ​ Remaining Lease ​ Weighted Average Lease Classification ​ Term (Years) ​ Discount Rate ​ Term (Years) ​ Discount Rate Operating ​ 5.6 ​ 4.87 % ​ 5.9 ​ 5.29 % Finance ​ 5.9 ​ 4.80 % ​ 6.5 ​ 4.79 % ​
Schedule of maturities of lease liabilities under the Leasing Standard	Future minimum lease payments under the Leasing Standard as of September 30, 2020, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases 2020 $ 4,450 ​ $ 301 2021 ​ 33,880 ​ ​ 1,212 2022 ​ 27,373 ​ ​ 1,241 2023 ​ 21,920 ​ ​ 1,280 2024 ​ 14,765 ​ ​ 1,163 Thereafter ​ 39,110 ​ ​ 2,297 Total minimum lease payments $ 141,498 ​ $ 7,494 Less amount representing interest ​ (19,096) ​ ​ (2,471) Lease liabilities $ 122,402 ​ $ 5,023

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies
Schedule of rollforward 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 ​ 2020 2019 Balance, beginning of period ​ $ 35,194 ​ $ 33,074 ​ $ 32,144 ​ $ 33,784 ​ Claims made ​ 2,558 ​ 6,423 ​ 14,770 ​ 16,110 ​ Claims resolved with no payment ​ (45) ​ (7,022) ​ (1,702) ​ (14,289) ​ Repurchases ​ (1,582) ​ (1,506) ​ (8,965) ​ (4,150) ​ Indemnification payments ​ - ​ (243) ​ (122) ​ (729) ​ Balance, end of period ​ $ 36,125 ​ $ 30,726 ​ $ 36,125 ​ $ 30,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification Liability Reserve Activity ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ 2020 2019 2020 2019 Balance, beginning of period ​ $ 15,463 ​ $ 10,833 ​ $ 11,776 ​ $ 10,701 ​ Additions for new sales ​ 3,066 ​ 954 ​ 6,688 ​ 2,236 ​ Repurchases ​ (133) ​ (117) ​ (613) ​ (325) ​ Early payment defaults ​ (413) ​ (51) ​ (815) ​ (290) ​ Indemnification payments ​ - ​ (87) ​ (40) ​ (182) ​ Change in reserves for loans sold in prior years ​ - ​ (81) ​ 987 ​ (689) ​ Balance, end of period ​ $ 17,983 ​ $ 11,451 ​ $ 17,983 ​ $ 11,451 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ Reserve for Indemnification Liability: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specific claims ​ $ 1,426 ​ $ 1,071 ​ ​ ​ ​ ​ ​ ​ Incurred but not reported claims ​ 16,557 ​ 10,705 ​ ​ ​ ​ ​ ​ ​ Total ​ $ 17,983 ​ $ 11,776 ​ ​ ​ ​ ​ ​ ​ ​

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Tables)	9 Months Ended
	Sep. 30, 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 ​ 2020 2019 Balance, beginning of period ​ $ 9,031 ​ $ 2,263 ​ $ 2,075 ​ $ 2,366 Transition adjustment CECL accounting standard ​ ​ — ​ ​ — ​ ​ 3,837 ​ ​ — Other noninterest expense ​ ​ 287 ​ ​ (77) ​ ​ 3,406 ​ ​ (180) Balance, end of period ​ $ 9,318 ​ $ 2,186 ​ $ 9,318 ​ $ 2,186

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested RSU activity for the nine months ended September 30, 2020 (shares in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ Outstanding Fair Value Balance, December 31, 2019 ​ 1,437 ​ $ 22.64 ​ Granted ​ 690 ​ $ 21.66 ​ Vested/Released ​ (350) ​ $ 26.83 ​ Forfeited ​ (24) ​ $ 22.48 Balance, September 30, 2020 ​ 1,753 ​ $ 21.42 ​

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2020 reflect PlainsCapital’s and Hilltop’s decision to elect the transition option as 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,382,293 10.19 % 4.0 % 5.0 % Hilltop ​ 2,193,424 13.03 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,382,293 14.64 % 7.0 % 6.5 % Hilltop ​ ​ 2,128,424 19.85 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,382,293 14.64 % 8.5 % 8.0 % Hilltop ​ 2,193,424 20.46 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,462,750 15.49 % 10.5 % 10.0 % Hilltop ​ 2,488,900 23.22 % 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 September 30, 2020, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HTS ​ ​ ​ Hilltop ​ Independent ​ ​ Securities Network Net capital ​ $ 310,559 ​ $ 3,366 ​ Less: required net capital ​ ​ 7,427 ​ ​ 250 ​ Excess net capital ​ $ 303,132 ​ $ 3,116 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net capital as a percentage of aggregate debit items ​ ​ 83.6 % ​ ​ ​ Net capital in excess of 5% aggregate debit items ​ $ 291,991 ​ ​ ​ ​ ​

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Financial Instruments
Schedule of changes in fair value of derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 2019 2020 2019 Increase (decrease) in fair value of derivatives during period: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PrimeLending ​ $ 23,286 ​ $ 5,881 ​ $ 90,429 ​ $ 23,285 Hilltop Broker-Dealers ​ ​ (3,542) ​ ​ (5,984) ​ ​ 8,466 ​ ​ 4,790 Bank ​ ​ 118 ​ ​ (25) ​ ​ (17) ​ ​ (171)
Schedule of derivative positions	​ Derivative positions are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ Notional Estimated Notional Estimated ​ ​ Amount ​ Fair Value ​ Amount ​ Fair Value Derivative instruments (not designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLCs ​ $ 3,513,711 ​ $ 115,699 ​ $ 914,526 ​ $ 18,222 Customer-based written options ​ — ​ — ​ 31,200 ​ — Customer-based purchased options ​ — ​ — ​ 31,200 ​ — Commitments to purchase MBSs ​ 2,645,029 ​ 9,238 ​ 3,346,946 ​ 3,321 Commitments to sell MBSs ​ ​ 7,470,095 ​ (8,277) ​ 5,988,198 ​ (5,904) Interest rate swaps ​ ​ 51,122 ​ (70) ​ 15,012 ​ (178) U.S. Treasury bond futures and options (1) ​ ​ 160,400 ​ — ​ 283,500 ​ — Eurodollar futures (1) ​ ​ 12,000 ​ — ​ 934,000 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments (designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as cash flow hedges ​ $ 105,000 ​ $ (3,689) ​ $ 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)	9 Months Ended
	Sep. 30, 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities borrowed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,285,509 ​ $ — ​ $ 1,285,509 ​ $ (1,235,409) ​ $ — ​ $ 50,100 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 13 ​ ​ — ​ ​ 13 ​ ​ (13) ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reverse repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 90,103 ​ ​ — ​ ​ 90,103 ​ ​ (89,111) ​ ​ — ​ ​ 992 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 11,848 ​ — ​ 11,848 ​ (11,848) ​ — ​ — ​ ​ $ 1,387,473 ​ $ — ​ $ 1,387,473 ​ $ (1,336,381) ​ $ — ​ $ 51,092 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 September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities loaned: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,177,098 ​ $ — ​ $ 1,177,098 ​ $ (1,129,147) ​ $ — ​ $ 47,951 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 83 ​ — ​ 83 ​ — ​ — ​ 83 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 261,703 ​ — ​ 261,703 ​ (261,703) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 12,601 ​ (1,714) ​ 10,887 ​ — ​ — ​ 10,887 ​ ​ $ 1,451,485 ​ $ (1,714) ​ $ 1,449,771 ​ $ (1,390,850) ​ $ — ​ $ 58,921 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 September 30, 2020 and December 31, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining Contractual Maturities ​ ​ Overnight and ​ ​ ​ ​ ​ Greater Than ​ ​ ​ September 30, 2020 ​ Continuous ​ Up to 30 Days ​ 30-90 Days ​ 90 Days ​ Total Repurchase agreement transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-backed securities ​ $ 157,890 ​ $ 96,720 ​ $ 7,093 ​ $ — ​ $ 261,703 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities lending transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate securities ​ ​ 113 ​ ​ — ​ ​ — ​ ​ — ​ ​ 113 Equity securities ​ ​ 1,176,985 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,176,985 Total ​ $ 1,334,988 ​ $ 96,720 ​ $ 7,093 ​ $ — ​ $ 1,438,801 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above ​ ​ ​ ​ $ 1,438,801 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)	9 Months Ended
	Sep. 30, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 Receivables: ​ ​ ​ ​ ​ ​ ​ Securities borrowed ​ $ 1,285,509 ​ $ 1,634,782 ​ Securities failed to deliver ​ 74,650 ​ 18,726 ​ Trades in process of settlement ​ — ​ 104,922 ​ Other ​ 3,319 ​ 21,850 ​ ​ ​ $ 1,363,478 ​ $ 1,780,280 ​ Payables: ​ ​ ​ ​ ​ ​ ​ Securities loaned ​ $ 1,177,098 ​ $ 1,555,964 ​ Correspondents ​ 36,928 ​ 37,036 ​ Securities failed to receive ​ 68,365 ​ 8,568 ​ Trades in process of settlement ​ 23,628 ​ — ​ Other ​ 4,816 ​ 3,950 ​ ​ ​ $ 1,310,835 ​ $ 1,605,518 ​

Segment and Related Informati_2

Segment and Related Information (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 96,416 ​ $ 8,168 ​ $ (2,349) ​ $ — ​ $ (4,594) ​ $ 4,259 ​ $ 101,900 ​ Provision for (reversal of) credit losses ​ — ​ ​ (602) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ (602) ​ Noninterest income ​ 9,819 ​ ​ 141,022 ​ ​ 355,471 ​ ​ — ​ ​ 477 ​ ​ (4,078) ​ 502,711 ​ Noninterest expense ​ 55,980 ​ 114,393 ​ 207,176 ​ ​ — ​ ​ 21,999 ​ ​ (203) ​ 399,345 ​ Income (loss) from continuing operations before taxes ​ ​ 50,255 ​ ​ 35,399 ​ ​ 145,946 ​ ​ — ​ ​ (26,116) ​ ​ 384 ​ ​ 205,868 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 736 ​ ​ — ​ ​ 736 ​ ​ ​ $ 50,255 ​ $ 35,399 ​ $ 145,946 ​ $ — ​ $ (25,380) ​ $ 384 ​ $ 206,604 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop ​ Nine Months Ended September 30, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated ​ Net interest income (expense) ​ $ 284,440 ​ $ 31,005 ​ $ (3,647) ​ $ — ​ $ (9,482) ​ $ 14,478 ​ $ 316,794 ​ Provision for credit losses ​ 99,875 ​ ​ 98 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 99,973 ​ Noninterest income ​ 29,246 ​ ​ 350,192 ​ ​ 874,926 ​ ​ — ​ ​ 3,315 ​ ​ (15,130) ​ 1,242,549 ​ Noninterest expense ​ 169,569 ​ 299,743 ​ 547,222 ​ ​ — ​ ​ 35,741 ​ ​ (820) ​ 1,051,455 ​ Income (loss) from continuing operations before taxes ​ ​ 44,242 ​ ​ 81,356 ​ ​ 324,057 ​ ​ — ​ ​ (41,908) ​ ​ 168 ​ ​ 407,915 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,103 ​ ​ 33,077 ​ ​ — ​ ​ 35,180 ​ ​ ​ $ 44,242 ​ $ 81,356 ​ $ 324,057 ​ $ 2,103 ​ $ (8,831) ​ $ 168 ​ $ 443,095 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Three Months Ended September 30, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 97,642 ​ $ 13,724 ​ $ (2,725) ​ $ — ​ $ (1,384) ​ $ 5,389 ​ $ 112,646 ​ Provision for credit losses ​ — ​ ​ 47 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 47 ​ Noninterest income ​ 8,856 ​ ​ 107,742 ​ ​ 194,857 ​ ​ — ​ ​ 460 ​ ​ (5,410) ​ 306,505 ​ Noninterest expense ​ 53,767 ​ 94,411 ​ 160,634 ​ ​ — ​ ​ 12,561 ​ ​ (187) ​ 321,186 ​ Income (loss) from continuing operations before taxes ​ ​ 52,731 ​ ​ 27,008 ​ ​ 31,498 ​ ​ — ​ ​ (13,485) ​ ​ 166 ​ ​ 97,918 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,539 ​ ​ — ​ ​ — ​ ​ 6,539 ​ ​ ​ $ 52,731 ​ $ 27,008 ​ $ 31,498 ​ $ 6,539 ​ $ (13,485) ​ $ 166 ​ $ 104,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop Nine Months Ended September 30, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated Net interest income (expense) ​ $ 283,755 ​ $ 37,984 ​ $ (4,224) ​ $ — ​ $ (4,045) ​ $ 14,749 ​ $ 328,219 ​ Provision for (reversal of) credit losses ​ 355 ​ ​ (29) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 326 ​ Noninterest income ​ 30,219 ​ ​ 304,607 ​ ​ 477,438 ​ ​ — ​ ​ 1,820 ​ ​ (14,913) ​ 799,171 ​ Noninterest expense ​ 172,744 ​ 277,088 ​ 417,032 ​ ​ — ​ ​ 37,397 ​ ​ (240) ​ 904,021 ​ Income (loss) from continuing operations before taxes ​ ​ 140,875 ​ ​ 65,532 ​ ​ 56,182 ​ ​ — ​ ​ (39,622) ​ ​ 76 ​ ​ 223,043 ​ Income from discontinued operations before taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,519 ​ ​ — ​ ​ — ​ ​ 10,519 ​ ​ ​ $ 140,875 ​ $ 65,532 ​ $ 56,182 ​ $ 10,519 ​ $ (39,622) ​ $ 76 ​ $ 233,562 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ All Other and Hilltop ​ ​ Banking ​ Broker-Dealer ​ Origination ​ Insurance ​ Corporate ​ Eliminations ​ Consolidated September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 13,380,146 ​ $ 3,098,564 ​ $ 2,983,663 ​ $ — ​ $ 2,938,698 ​ $ (5,465,519) ​ $ 16,935,552 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets of discontinued operations ​ $ — ​ $ — ​ $ — ​ $ 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)	9 Months Ended
	Sep. 30, 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 September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ ​ 152,543 ​ $ 74,157 ​ $ 296,729 ​ $ 167,648 ​ Income from discontinued operations ​ ​ 736 ​ ​ 5,261 ​ ​ 34,662 ​ ​ 8,367 ​ Income attributable to Hilltop ​ $ 153,279 ​ $ 79,418 ​ $ 331,391 ​ $ 176,015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,200 ​ 91,745 ​ 90,291 ​ 92,931 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 1.69 ​ $ 0.81 ​ $ 3.29 ​ $ 1.80 ​ Income from discontinued operations ​ ​ 0.01 ​ ​ 0.06 ​ ​ 0.38 ​ ​ 0.09 ​ ​ ​ $ 1.70 ​ $ 0.87 ​ $ 3.67 ​ $ 1.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 152,543 ​ $ 74,157 ​ $ 296,729 ​ $ 167,648 ​ Income from discontinued operations ​ ​ 736 ​ ​ 5,261 ​ ​ 34,662 ​ ​ 8,367 ​ Income attributable to Hilltop ​ $ 153,279 ​ $ 79,418 ​ $ 331,391 ​ $ 176,015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 90,200 ​ 91,745 ​ 90,291 ​ 92,931 ​ Effect of potentially dilutive securities ​ — ​ ​ 79 ​ — ​ 28 ​ Weighted average shares outstanding - diluted ​ 90,200 ​ 91,824 ​ 90,291 ​ 92,959 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 1.69 ​ $ 0.81 ​ $ 3.29 ​ $ 1.80 ​ Income from discontinued operations ​ ​ 0.01 ​ ​ 0.05 ​ ​ 0.38 ​ ​ 0.09 ​ ​ ​ $ 1.70 ​ $ 0.86 ​ $ 3.67 ​ $ 1.89 ​

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Basis of Presentation, Ownership (Details) $ in Millions	Jun. 30, 2020USD ($)	Sep. 30, 2020item
Basis of Presentation
Number of primary operating business units | item		2
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
Minimum
Basis of Presentation
Economic forecast variables period		1 year
Maximum
Basis of Presentation
Economic forecast variables period		4 years
NLC | Discontinued Operations, Disposed of by sale
Basis of Presentation
Cash proceeds from sale | $	$ 154.1
PPC
Basis of Presentation
Ownership percentage		100.00%
Securities Holdings
Basis of Presentation
Ownership percentage		100.00%
HTH Hillcrest Project LLC
Basis of Presentation
Membership ownership percentage		100.00%
Hilltop Investments I, LLC
Basis of Presentation
Membership ownership percentage		100.00%
PPC | PlainsCapital (the Bank)
Basis of Presentation
Ownership percentage		100.00%
PPC | Hilltop Opportunity Partners LLC
Basis of Presentation
Membership ownership percentage		100.00%
PPC | PCC Statutory Trusts
Basis of Presentation
Ownership percentage		100.00%
PlainsCapital (the Bank) | Prime Lending
Basis of Presentation
Ownership percentage		100.00%
Prime Lending | Ventures Management
Basis of Presentation
Membership ownership percentage		100.00%
Hilltop Investments I, LLC | Hillcrest Land LLC
Basis of Presentation
Membership ownership percentage		50.00%

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Recent Accounting Pronouncements
Retained Earnings (Accumulated Deficit)	$ 942,461	$ 644,860
ASU 2016-13
Recent Accounting Pronouncements
Aggregate allowance for credit loss		83,600
Cumulative Effect, Period of Adoption, Adjustment | ASU 2016-13
Recent Accounting Pronouncements
Retained Earnings (Accumulated Deficit)		$ (5,700)

Discontinued Operations - Balan

Discontinued Operations - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Discontinued Operations
Total assets of discontinued operations				$ 248,429
Total liabilities of discontinued operations				140,674
Discontinued Operations, Disposed of by sale | NLC
Discontinued Operations
Cash proceeds from sale	$ 154,100
Gain on disposal	32,300	$ 736	$ 33,077
Transaction cost	$ 5,100
Pre-tax adjustment on disposal			700
Aggregate gain on sale			$ 33,100
Cash and due from banks				51,333
Available for sale, at fair value				86,899
Equity, at fair value				19,841
Total securities				106,740
Premises and equipment, net				9,607
Operating lease right-of-use assets				2,739
Other assets				50,533
Goodwill				23,988
Other intangible assets, net				3,489
Total assets of discontinued operations				248,429
Note payable				27,500
Operating lease liabilities				2,783
Other liabilities				110,391
Total liabilities of discontinued operations				$ 140,674

Discontinued Operations - Opera

Discontinued Operations - Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Discontinued Operations
Income from discontinued operations before income taxes		$ 736	$ 6,539	$ 35,180	$ 10,519
Income from discontinued operations, net of income taxes		736	5,261	34,662	8,367
Discontinued Operations, Disposed of by sale | NLC
Discontinued Operations
Securities: Taxable			879	1,752	2,745
Other			137	71	429
Total interest income			1,016	1,823	3,174
Interest expense - notes payable			450	775	1,374
Net insurance premiums earned			32,654	65,077	99,323
Other			2,242	3,051	8,246
Total noninterest income			34,896	68,128	107,569
Employees' compensation and benefits			2,748	6,002	8,734
Occupancy and equipment, net			200	464	725
Professional services			8,874	18,201	27,687
Loss and loss adjustment expenses			14,677	38,419	54,584
Other			2,424	3,987	7,120
Total noninterest expense			28,923	67,073	98,850
Income from discontinued operations before income taxes			6,539	2,103	10,519
Gain on disposal of discontinued operations	$ 32,300	736		33,077
Income tax expense			1,278	518	2,152
Income from discontinued operations, net of income taxes		$ 736	$ 5,261	$ 34,662	$ 8,367

Discontinued Operations - Secur

Discontinued Operations - Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Discontinued Operations
Available-for-sale unrealized gains	$ 30,657		$ 30,657		$ 12,702
Unrealized net gains from equity securities			$ 100		100
Discontinued Operations, Disposed of by sale | NLC
Discontinued Operations
Available-for-sale unrealized gains					2,500
Unrealized net gains from equity securities					$ 1,100
Recognized net gain (loss) on equity securities	$ 0	$ (100)		$ 1,400

Discontinued Operations - Effec

Discontinued Operations - Effects of Reinsurance (Details) - NLC - Discontinued Operations, Disposed of by sale - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Written
Premiums from direct business	$ 31,269	$ 63,811	$ 97,621
Reinsurance assumed	3,440	6,396	10,191
Reinsurance ceded	(2,333)	(2,759)	(5,574)
Net premiums	32,376	67,448	102,238
Earned
Premiums from direct business	31,698	61,384	95,161
Reinsurance assumed	3,289	6,452	9,736
Reinsurance ceded	(2,333)	(2,759)	(5,574)
Net premiums	32,654	65,077	99,323
Effect of reinsurance on incurred losses
Loss and LAE incurred	14,508	38,225	53,450
Reinsurance recoverables	169	194	1,134
Net loss and LAE incurred	$ 14,677	$ 38,419	$ 54,584

Fair Value Measurements - FV Op

Fair Value Measurements - FV Option (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value Measurements
Mortgage loans held for sale, fair value	$ 2,340	$ 1,940
Mortgage loans held for sale, unpaid principal balance	$ 2,240	$ 1,880

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financial assets:
Trading securities	$ 667,751	$ 689,576
Available for sale	1,310,240	911,493
Equity securities	117	166
MSR asset	127,712	55,504
Financial liabilities:
Securities sold, not yet purchased	56,023	43,817
Recurring
Financial assets:
Trading securities	667,751	689,576
Available for sale	1,310,240	911,493
Equity securities	117	166
Loans held for sale	2,344,188	1,935,713
Derivative assets	169,005	33,129
MSR asset	127,712	55,504
Financial liabilities:
Securities sold, not yet purchased	56,023	43,817
Derivative liabilities	56,104	17,140
Recurring | Level 1
Financial assets:
Trading securities	20,859
Equity securities	117	166
Financial liabilities:
Securities sold, not yet purchased	32,178	29,080
Recurring | Level 2
Financial assets:
Trading securities	646,892	689,576
Available for sale	1,310,240	911,493
Loans held for sale	2,272,002	1,868,518
Derivative assets	169,005	33,129
Financial liabilities:
Securities sold, not yet purchased	23,845	14,737
Derivative liabilities	56,104	17,140
Recurring | Level 3
Financial assets:
Loans held for sale	72,186	67,195
MSR asset	$ 127,712	$ 55,504

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	$ 173,200	$ 110,494	$ 122,699	$ 116,566
Purchases/Additions	64,689	19,513	177,227	53,401
Sales/Reductions	(20,182)	(9,364)	(69,775)	(27,448)
Transfers into Level 3	1,097	711	10,064	1,136
Total gains or losses (realized or unrealized):
Included in Net Income	(18,906)	(9,153)	(40,317)	(31,454)
Asset balance, end of period	199,898	112,201	199,898	112,201
Loans Held for Sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	91,936	56,799	67,195	50,464
Purchases/Additions	5,338	15,347	53,961	44,827
Sales/Reductions	(20,182)	(9,364)	(51,125)	(27,448)
Transfers into Level 3	1,097	711	10,064	1,136
Total gains or losses (realized or unrealized):
Included in Net Income	(6,003)	(2,589)	(7,909)	(8,075)
Asset balance, end of period	72,186	60,904	72,186	60,904
MSR
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	81,264	53,695	55,504	66,102
Purchases/Additions	59,351	4,166	123,266	8,574
Sales/Reductions			(18,650)
Total gains or losses (realized or unrealized):
Included in Net Income	(12,903)	(6,564)	(32,408)	(23,379)
Asset balance, end of period	$ 127,712	$ 51,297	$ 127,712	$ 51,297

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Sep. 30, 2020item	Dec. 31, 2019item
Loans Held for Sale
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Valuation Technique [Extensible List]	hth:MarketComparisonValuationTechniqueMember	hth:MarketComparisonValuationTechniqueMember
Loans Held-for-sale, Measurement Input [Extensible List]	us-gaap:MeasurementInputPriceVolatilityMember	us-gaap:MeasurementInputPriceVolatilityMember
Loans Held for Sale | Weighted average
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.95	0.95
Loans Held for Sale | Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.88	0.92
Loans Held for Sale | Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.96	0.96
MSR | Constant Prepayment Rate
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 | Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1297	0.1316
MSR | Discount Rate | Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1465	0.1114

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Transfers Between Level 1 and Level 2
Transfers of assets from level 1 to level 2	$ 0	$ 0	$ 0	$ 0
Transfers of assets from level 2 to level 1	0	0	0	0
Transfers of liabilities from level 1 to level 2	0	0	0	0
Transfers of liabilities from level 2 to level 1	0	0	0	0
Fair Value Option
Net Gains (Losses)	307,896	157,050	753,699	384,362
Other Noninterest Income	77,772	48,562	171,309	145,504
Loans Held for Sale
Fair Value Option
Net Gains (Losses)	(9,167)	4,117	49,311	7,972
Total Changes in Fair Value	(9,167)	4,117	49,311	7,972
MSR
Fair Value Option
Net Gains (Losses)	(12,903)	(6,564)	(32,408)	(23,379)
Total Changes in Fair Value	$ (12,903)	$ (6,564)	$ (32,408)	$ (23,379)

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financial assets:
Held to maturity securities	$ 338,929	$ 388,930
Broker-dealer and clearing organization receivables	1,363,478	1,780,280
Financial liabilities:
Broker-dealer and clearing organization payables	1,310,835	1,605,518
Carrying Amount
Financial assets:
Cash and cash equivalents	1,278,285	434,020
Assets segregated for regulatory purposes	221,621	157,436
Securities purchased under agreements to resell	90,103	59,031
Held to maturity securities	323,299	386,326
Loans held for sale	203,787	170,648
Loans held for investment, net	7,790,346	7,320,264
Broker-dealer and clearing organization receivables	1,363,478	1,780,280
Other assets	73,173	71,040
Financial liabilities:
Deposits	11,261,915	9,032,214
Broker-dealer and clearing organization payables	1,310,835	1,605,518
Short-term borrowings	780,109	1,424,010
Debt	463,018	323,281
Other liabilities	13,885	8,340
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	1,278,285	434,020
Assets segregated for regulatory purposes	221,621	157,436
Securities purchased under agreements to resell	90,103	59,031
Held to maturity securities	338,929	388,930
Loans held for sale	203,787	170,648
Loans held for investment, net	7,891,287	7,567,233
Broker-dealer and clearing organization receivables	1,363,478	1,780,280
Other assets	73,173	71,040
Financial liabilities:
Deposits	11,280,154	9,032,496
Broker-dealer and clearing organization payables	1,310,835	1,605,518
Short-term borrowings	780,109	1,424,010
Debt	463,018	323,281
Other liabilities	13,885	8,340
Estimate of Fair Value | Level 1
Financial assets:
Cash and cash equivalents	1,278,285	434,020
Assets segregated for regulatory purposes	221,621	157,436
Estimate of Fair Value | Level 2
Financial assets:
Securities purchased under agreements to resell	90,103	59,031
Held to maturity securities	338,929	388,930
Loans held for sale	203,787	170,648
Loans held for investment, net	502,295	576,527
Broker-dealer and clearing organization receivables	1,363,478	1,780,280
Other assets	71,628	69,580
Financial liabilities:
Deposits	11,280,154	9,032,496
Broker-dealer and clearing organization payables	1,310,835	1,605,518
Short-term borrowings	780,109	1,424,010
Debt	463,018	323,281
Other liabilities	13,885	8,340
Estimate of Fair Value | Level 3
Financial assets:
Loans held for investment, net	7,388,992	6,990,706
Other assets	$ 1,545	$ 1,460

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 20,613	$ 19,906	$ 19,771	$ 20,376
Upward adjustments	2,221	101	3,852	303
Impairments and downward adjustments	(826)	(346)	(1,615)	(1,018)
Balance, end of year	22,008	$ 19,661	22,008	$ 19,661
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 62,700		$ 62,700		$ 36,600

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of fair value of trading securities
Debt Securities, Trading	$ 667,751	$ 689,576
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	56,023	43,817
US Treasury Securities
Schedule of fair value of trading securities
Debt Securities, Trading	20,859
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	51,707	24,680
Residential Mortgage Backed Securities
Schedule of fair value of trading securities
Debt Securities, Trading	13,951	331,601
Commercial mortgage-backed securities
Schedule of fair value of trading securities
Debt Securities, Trading	891	2,145
Collateralized Mortgage Obligations
Schedule of fair value of trading securities
Debt Securities, Trading	372,219	191,154
Corporate debt securities
Schedule of fair value of trading securities
Debt Securities, Trading	62,837	36,973
States and political subdivisions
Schedule of fair value of trading securities
Debt Securities, Trading	135,068	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	6,752	2,992
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 3,467	$ 3,446

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Available for sale
Amortized cost	$ 1,280,420	$ 899,817
Unrealized Gains	30,657	12,702
Unrealized Losses	(837)	(1,026)
Fair Value	1,310,240	911,493
Held to maturity
Amortized cost	323,299	386,326
Unrealized Gains	15,644	4,354
Unrealized Losses	(14)	(1,750)
Held to maturity, fair value	338,929	388,930
Equity Securities
Unrealized net gains from equity securities	100	100
Equity, at fair value	117	166
Bonds
Available for sale
Amortized cost	56,781	84,590
Unrealized Gains	1,204	1,049
Unrealized Losses	(45)	(64)
Fair Value	57,940	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	579,725	430,514
Unrealized Gains	17,553	6,662
Unrealized Losses	(285)	(147)
Fair Value	596,993	437,029
Held to maturity
Amortized cost	14,659	17,776
Unrealized Gains	790	295
Held to maturity, fair value	15,449	18,071
Commercial mortgage-backed securities
Available for sale
Amortized cost	63,570	11,488
Unrealized Gains	926	543
Unrealized Losses	(204)
Fair Value	64,292	12,031
Held to maturity
Amortized cost	153,318	161,624
Unrealized Gains	10,245	2,810
Unrealized Losses		(655)
Held to maturity, fair value	163,563	163,779
Collateralized Mortgage Obligations
Available for sale
Amortized cost	540,326	333,256
Unrealized Gains	8,454	3,175
Unrealized Losses	(303)	(815)
Fair Value	548,477	335,616
Held to maturity
Amortized cost	84,670	113,894
Unrealized Gains	2,288	226
Unrealized Losses		(904)
Held to maturity, fair value	86,958	113,216
States and political subdivisions
Available for sale
Amortized cost	40,018	39,969
Unrealized Gains	2,520	1,273
Fair Value	42,538	41,242
Held to maturity
Amortized cost	70,652	69,012
Unrealized Gains	2,321	1,013
Unrealized Losses	(14)	(156)
Held to maturity, fair value	$ 72,959	$ 69,869

Securities - AFS in an Unrealiz

Securities - AFS in an Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2020USD ($)item	Dec. 31, 2019USD ($)item
Number of Securities
Unrealized loss for less than twelve months | item	17	55
Unrealized loss for twelve months or longer | item	5	16
Total | item	22	71
Fair Value
Unrealized loss for less than twelve months	$ 176,890	$ 165,636
Unrealized loss for twelve months or longer	14,659	60,387
Total	191,549	226,023
Unrealized Loss
Unrealized loss for less than twelve months	782	599
Unrealized loss for twelve months or longer	55	427
Total	$ 837	$ 1,026
Bonds
Number of Securities
Unrealized loss for less than twelve months | item	3	2
Total | item	3	2
Fair Value
Unrealized loss for less than twelve months	$ 24,955	$ 24,937
Total	24,955	24,937
Unrealized Loss
Unrealized loss for less than twelve months	45	64
Total	$ 45	$ 64
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months | item	6	37
Unrealized loss for twelve months or longer | item		2
Total | item	6	39
Fair Value
Unrealized loss for less than twelve months	$ 58,891	$ 36,187
Unrealized loss for twelve months or longer		13,683
Total	58,891	49,870
Unrealized Loss
Unrealized loss for less than twelve months	285	87
Unrealized loss for twelve months or longer		58
Total	$ 285	$ 145
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months | item	2	1
Total | item	2	1
Fair Value
Unrealized loss for less than twelve months	$ 18,913	$ 9,967
Total	18,913	9,967
Unrealized Loss
Unrealized loss for less than twelve months	204	2
Total	$ 204	$ 2
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months | item	6	15
Unrealized loss for twelve months or longer | item	5	13
Total | item	11	28
Fair Value
Unrealized loss for less than twelve months	$ 74,131	$ 94,545
Unrealized loss for twelve months or longer	14,659	46,217
Total	88,790	140,762
Unrealized Loss
Unrealized loss for less than twelve months	248	446
Unrealized loss for twelve months or longer	55	369
Total	$ 303	$ 815
States and political subdivisions
Number of Securities
Unrealized loss for twelve months or longer | item		1
Total | item		1
Fair Value
Unrealized loss for twelve months or longer		$ 487
Total		$ 487

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2020USD ($)item	Dec. 31, 2019USD ($)item
Number of Securities
Unrealized loss for less than twelve months | item	9	52
Unrealized loss for twelve months or longer | item		12
Total | item	9	64
Fair Value
Unrealized loss for less than twelve months	$ 2,993	$ 94,175
Unrealized loss for twelve months or longer		60,659
Total	2,993	154,834
Unrealized Losses
Unrealized loss for less than twelve months	14	1,102
Unrealized loss for twelve months or longer		648
Total	$ 14	$ 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		4
Unrealized loss for twelve months or longer | item		8
Total | item		12
Fair Value
Unrealized loss for less than twelve months		$ 23,904
Unrealized loss for twelve months or longer		59,560
Total		83,464
Unrealized Losses
Unrealized loss for less than twelve months		287
Unrealized loss for twelve months or longer		617
Total		$ 904
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months | item	9	38
Unrealized loss for twelve months or longer | item		4
Total | item	9	42
Fair Value
Unrealized loss for less than twelve months	$ 2,993	$ 15,996
Unrealized loss for twelve months or longer		1,099
Total	2,993	17,095
Unrealized Losses
Unrealized loss for less than twelve months	14	124
Unrealized loss for twelve months or longer		31
Total	$ 14	$ 155

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 4,994
Due after one year through five years	55,385
Due after five years through ten years	19,117
Due after ten years	17,303
Total	96,799
Amortized cost	1,280,420	$ 899,817
AFS, Fair Value, Rolling Maturity
Due in one year or less	5,097
Due after one year through five years	56,825
Due after five years through ten years	19,915
Due after ten years	18,641
Total	100,478
Fair Value	1,310,240	911,493
Residential Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	579,725
Amortized cost	579,725	430,514
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	596,993
Fair Value	596,993	437,029
Collateralized Mortgage Obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	540,326
Amortized cost	540,326	333,256
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	548,477
Fair Value	548,477	335,616
Commercial mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	63,570
Amortized cost	63,570	11,488
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	64,292
Fair Value	$ 64,292	$ 12,031

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 651
Due after one year through five years	1,215
Due after five years through ten years	8,208
Due after ten years	60,578
Total	70,652
Amortized cost	323,299	$ 386,326
HTM, Fair Value, Rolling Maturities
Due in one year or less	654
Due after one year through five years	1,274
Due after five years through ten years	8,504
Due after ten years	62,527
Total	72,959
Fair Value	338,929	388,930
Residential Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	14,659
Amortized cost	14,659	17,776
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	15,449
Fair Value	15,449	18,071
Collateralized Mortgage Obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	84,670
Amortized cost	84,670	113,894
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	86,958
Fair Value	86,958	113,216
Commercial mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	153,318
Amortized cost	153,318	161,624
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	163,563
Fair Value	$ 163,563	$ 163,779

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Securities
Realized net gains (losses) from trading securities portfolio	$ 86.2	$ 4.4	$ 106.7	$ 15.1
Realized net gains from other securities		2.6	0.2	2.6
Carrying amount of securities pledged	541.3		541.3		$ 576
Fair value of securities pledged	562.9		562.9		$ 583.6
Available for sale debt securities past due	0		0
Hilltop Broker-Dealers
Securities
Realized net gains (losses) from trading securities portfolio	$ (14.4)	$ (43.3)	$ (27.8)	$ (99)

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Loans
Total loans	$ 7,945,560		$ 7,381,400
Allowance for loan losses	(155,214)	$ (156,383)	(61,136)	$ (55,604)	$ (55,177)	$ (59,486)
Loans held for investment, net	7,790,346		7,320,264
Commercial Real Estate
Loans
Total loans	3,073,038		3,000,523
Allowance for loan losses	(104,566)	(106,551)	(31,595)	(25,862)	(25,114)	(27,100)
Commercial and Industrial
Loans
Total loans	2,848,289		2,025,720
Allowance for loan losses	(38,178)	(31,863)	(17,964)	(19,182)	(20,414)	(21,980)
Commercial and Industrial | Loans Funded Through Paycheck Protection Program
Loans
Total loans	670,700
Construction and land development
Loans
Total loans	841,385		940,564
Allowance for loan losses	(6,270)	(8,393)	(4,878)	(4,788)	(4,396)	(6,061)
1 - 4 family residential
Loans
Total loans	643,833		791,020
Allowance for loan losses	(5,052)	(7,399)	(6,386)	(5,411)	(4,924)	(3,956)
Consumer
Loans
Total loans	36,720		47,046
Allowance for loan losses	(1,002)	(1,429)	(265)	(268)	(283)	(267)
Broker-dealer
Loans
Total loans	502,295		576,527
Allowance for loan losses	$ (146)	$ (748)	$ (48)	$ (93)	$ (46)	$ (122)

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)loanitem	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)loanitem	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Non-accrual loans
Non-accrual Loans With Allowance	$ 32,573		$ 32,573
Non-accrual Loans With No Allowance	41,394		41,394
Non-accrual loans	73,967		73,967		$ 31,294
Interest Income Recognized	$ 739	$ 300	2,430	$ 1,100
Commercial Real Estate
Non-accrual loans
Addition of loans in non-accrual status			$ 6,800
Number of previous loans included in non-accrual | loan	24		24
Previously categorized loans included in non-accrual	$ 12,700		$ 12,700
Non-accrual status, reserve	1,400		1,400
Non-accrual status, increase set off by settlement of loan, carrying amount	2,500		2,500
Commercial Real Estate | Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	1,049		1,049
Non-accrual Loans With No Allowance	1,598		1,598
Non-accrual loans	2,647		2,647		3,813
Interest Income Recognized	99		88
Commercial Real Estate | Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	2,155		2,155
Non-accrual Loans With No Allowance	9,277		9,277
Non-accrual loans	11,432		11,432		3,495
Interest Income Recognized	156		241
Commercial and Industrial
Non-accrual loans
Non-accrual Loans With Allowance	23,006		23,006
Non-accrual Loans With No Allowance	15,702		15,702
Non-accrual loans	38,708		38,708		15,262
Interest Income Recognized	$ 312		$ 714
Number of loan relationships | item	2		2
Number of previous loans included in non-accrual | loan	6		6
Previously categorized loans included in non-accrual	$ 19,300		$ 19,300
Non-accrual status, reserve	4,200		4,200
Amortized cost of loan with CECL transition gross-up adjustment	6,800		6,800
Reserve on loan in non-accrual status, with a CECL gross up adjustment	5,200		5,200
Commercial and Industrial | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Non-accrual loans
CECL transition gross-up adjustment					4,600
Construction and land development
Non-accrual loans
Non-accrual Loans With Allowance	105		105
Non-accrual Loans With No Allowance	423		423
Non-accrual loans	528		528		1,316
Interest Income Recognized	36		89
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	6,205		6,205
Non-accrual Loans With No Allowance	14,394		14,394
Non-accrual loans	20,599		20,599		7,382
Interest Income Recognized	134		1,299
Addition of loans in non-accrual status			4,000
1 - 4 family residential | Secured by Residential Properties
Non-accrual loans
Non-accrual loans held for sale	8,100		8,100		4,800
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	53		53
Non-accrual loans	53		53		$ 26
Interest Income Recognized	$ 2		$ (1)

Loans Held for Investment - TDR

Loans Held for Investment - TDRs (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020USD ($)loan	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)loan	Sep. 30, 2020USD ($)loan	Sep. 30, 2019USD ($)loan
TDRs, Non-covered loans
COVID-19 related loan modifications	$ 57,700	$ 968,100
COVID-19 loans modified and in deferral period	291,400			$ 291,400
COVID-19 loans modified with an extended deferral period	208,000			208,000
COVID-19 loans modified which have returned to agreed upon contractual terms	$ 662,000			$ 662,000
Number of TDR loans granted | loan	0		2
TDR at extension			$ 1,600
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 | loan				2
Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted				2	5
TDR at extension				$ 7,839	$ 9,632
TDR modifications, in which a payment was at least 30 days past due				$ 3,166	$ 9,113
Commercial and Industrial | Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted | loan				2	5
TDR at extension				$ 7,839	$ 9,632
TDR modifications, in which a payment was at least 30 days past due				$ 3,166	$ 9,113

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	$ 64,263	$ 55,823
Current Loans	7,881,297	7,325,577
Total loans	7,945,560	7,381,400
Accruing Loans Past Due 90 Days or More	2	3
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	11,183	31,935
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	12,074	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	41,006	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	187,100	102,700
Unpaid principal balance loans past due 90 days or more	188,500	104,000
Commercial Real Estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	3,073,038	3,000,523
Commercial Real Estate | Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	5,465	6,852
Current Loans	1,749,896	1,702,500
Total loans	1,755,361	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	2,389	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	2,876
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	200	2,790
Commercial Real Estate | Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	11,766	5,958
Current Loans	1,305,911	1,285,213
Total loans	1,317,677	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	3,227	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	2,272	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	6,267	3,265
Commercial and Industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	24,561	11,097
Current Loans	2,823,728	2,014,623
Total loans	2,848,289	2,025,720
Accruing Loans Past Due 90 Days or More	2	3
Commercial and Industrial | Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	1,953	5,967
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	3,271	1,735
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	19,337	3,395
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	2	9,407
Current Loans	841,383	931,157
Total loans	841,385	940,564
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	2	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		1,827
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	22,154	22,020
Current Loans	621,679	769,000
Total loans	643,833	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	3,600	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	3,404	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	15,150	6,520
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	315	489
Current Loans	36,405	46,557
Total loans	36,720	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	12	455
Consumer | Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	251	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	52
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Current Loans	502,295	576,527
Total loans	$ 502,295	$ 576,527

Loans Held for Investment - Int

Loans Held for Investment - Internal Risk Grades (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Internal risk grades of non-covered loans
2020	$ 1,435,796
2019	1,182,472
2018	913,020
2017	546,283
2016	532,927
2015 and Prior	586,958
Financing Receivable, Revolving	692,581
Total loans with credit quality measures	5,890,037
Total loans	7,945,560	$ 7,381,400
Commercial Real Estate
Internal risk grades of non-covered loans
Total loans	3,073,038	3,000,523
Commercial Real Estate | Non-owner occupied
Internal risk grades of non-covered loans
Total loans	1,755,361	1,709,352
Commercial Real Estate | Non-owner occupied | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	13,190
2019	33,533
2018	3,044
2017	2,300
2016	13,184
2015 and Prior	15,748
Financing Receivable, Revolving	401
Total loans with credit quality measures	81,400
Commercial Real Estate | Non-owner occupied | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	211,586
2019	138,426
2018	118,655
2017	102,274
2016	124,166
2015 and Prior	91,656
Financing Receivable, Revolving	32,904
Total loans with credit quality measures	819,667
Commercial Real Estate | Non-owner occupied | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	127,747
2019	160,637
2018	118,055
2017	91,650
2016	124,628
2015 and Prior	62,187
Financing Receivable, Revolving	483
Total loans with credit quality measures	685,387
Commercial Real Estate | Non-owner occupied | Internal Grade 13
Internal risk grades of non-covered loans
2020	30,756
2019	16,328
2018	27,592
2017	29,928
2016	30,808
2015 and Prior	30,848
Total loans with credit quality measures	166,260
Commercial Real Estate | Non-owner occupied | Internal Grade 14
Internal risk grades of non-covered loans
2015 and Prior	2,647
Total loans with credit quality measures	2,647
Commercial Real Estate | Owner occupied
Internal risk grades of non-covered loans
Total loans	1,317,677	1,291,171
Commercial Real Estate | Owner occupied | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	46,605
2019	32,541
2018	10,711
2017	42,978
2016	24,894
2015 and Prior	39,509
Financing Receivable, Revolving	1
Total loans with credit quality measures	197,239
Commercial Real Estate | Owner occupied | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	136,710
2019	161,028
2018	148,623
2017	64,900
2016	54,981
2015 and Prior	94,698
Financing Receivable, Revolving	30,820
Total loans with credit quality measures	691,760
Commercial Real Estate | Owner occupied | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	95,828
2019	76,806
2018	47,453
2017	26,881
2016	29,485
2015 and Prior	31,409
Financing Receivable, Revolving	927
Total loans with credit quality measures	308,789
Commercial Real Estate | Owner occupied | Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2020	370
2018	2,316
2015 and Prior	538
Total loans with credit quality measures	3,224
Commercial Real Estate | Owner occupied | Internal Grade 13
Internal risk grades of non-covered loans
2020	7,573
2019	3,588
2018	69,465
2017	7,717
2016	6,732
2015 and Prior	10,158
Total loans with credit quality measures	105,233
Commercial Real Estate | Owner occupied | Internal Grade 14
Internal risk grades of non-covered loans
2020	508
2019	2,248
2018	517
2017	5,361
2016	1,888
2015 and Prior	910
Total loans with credit quality measures	11,432
Commercial and Industrial
Internal risk grades of non-covered loans
Total loans	2,848,289	2,025,720
Commercial and Industrial | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	32,808
2019	16,361
2018	5,850
2017	12,387
2016	4,315
2015 and Prior	87
Financing Receivable, Revolving	16,874
Total loans with credit quality measures	88,682
Commercial and Industrial | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	135,087
2019	76,615
2018	63,222
2017	26,560
2016	15,081
2015 and Prior	13,306
Financing Receivable, Revolving	330,928
Total loans with credit quality measures	660,799
Commercial and Industrial | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	76,601
2019	68,298
2018	29,181
2017	15,989
2016	30,392
2015 and Prior	2,548
Financing Receivable, Revolving	197,296
Total loans with credit quality measures	420,305
Commercial and Industrial | Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2020	802
2019	16
2018	4,126
2016	267
Financing Receivable, Revolving	2,323
Total loans with credit quality measures	7,534
Commercial and Industrial | Internal Grade 13
Internal risk grades of non-covered loans
2020	25,592
2019	4,553
2018	12,663
2017	6,327
2016	7,546
2015 and Prior	358
Financing Receivable, Revolving	21,994
Total loans with credit quality measures	79,033
Commercial and Industrial | Internal Grade 14
Internal risk grades of non-covered loans
2020	23,736
2019	6,906
2018	1,850
2017	350
2016	920
2015 and Prior	3,538
Financing Receivable, Revolving	1,408
Total loans with credit quality measures	38,708
Commercial and Industrial | Mortgage Warehouse Lending
Internal risk grades of non-covered loans
Loans without credit quality measures	882,503
Commercial and Industrial | Loans Funded Through Paycheck Protection Program
Internal risk grades of non-covered loans
Loans without credit quality measures	670,725
Total loans	670,700
Construction and land development
Internal risk grades of non-covered loans
Total loans	841,385	940,564
Construction and land development | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	2,142
2019	82
2018	1,460
Total loans with credit quality measures	3,684
Construction and land development | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	11,426
2019	279
2018	5,975
Total loans with credit quality measures	17,680
Construction and land development | Other
Internal risk grades of non-covered loans
2020	424
Total loans with credit quality measures	424
Construction and land development | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	16,747
2019	1,979
2018	22,828
2017	272
2016	1,088
2015 and Prior	290
Financing Receivable, Revolving	2,027
Total loans with credit quality measures	45,231
Construction and land development | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	147,952
2019	127,287
2018	66,772
2017	22,092
2016	6,100
2015 and Prior	3,918
Financing Receivable, Revolving	36,221
Total loans with credit quality measures	410,342
Construction and land development | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	165,359
2019	107,915
2018	45,176
2017	25,883
2016	3,656
2015 and Prior	929
Financing Receivable, Revolving	3,635
Total loans with credit quality measures	352,553
Construction and land development | Internal Grade 13
Internal risk grades of non-covered loans
2020	3,088
2019	2,396
2017	5,385
2015 and Prior	74
Total loans with credit quality measures	10,943
Construction and land development | Internal Grade 14
Internal risk grades of non-covered loans
2019	423
2015 and Prior	105
Total loans with credit quality measures	528
1 - 4 family residential
Internal risk grades of non-covered loans
Total loans	643,833	791,020
1 - 4 family residential | FICO Score, Less than 620
Internal risk grades of non-covered loans
2020	991
2019	851
2018	3,679
2017	57
2016	931
2015 and Prior	34,503
Financing Receivable, Revolving	532
Total loans with credit quality measures	41,544
1 - 4 family residential | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	15,184
2019	20,358
2018	10,077
2017	8,858
2016	12,689
2015 and Prior	40,560
Financing Receivable, Revolving	1,317
Total loans with credit quality measures	109,043
1 - 4 family residential | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	83,373
2019	97,176
2018	80,949
2017	44,821
2016	37,037
2015 and Prior	77,530
Financing Receivable, Revolving	4,810
Total loans with credit quality measures	425,696
1 - 4 family residential | Substandard non-accrual
Internal risk grades of non-covered loans
2017	97
2016	723
2015 and Prior	19,779
Total loans with credit quality measures	20,599
1 - 4 family residential | Other
Internal risk grades of non-covered loans
2020	9,080
2019	17,001
2018	8,491
2017	1,924
2016	1,103
2015 and Prior	8,879
Financing Receivable, Revolving	473
Total loans with credit quality measures	46,951
Consumer
Internal risk grades of non-covered loans
Total loans	36,720	47,046
Consumer | FICO Score, Less than 620
Internal risk grades of non-covered loans
2020	736
2019	1,382
2018	121
2017	143
2016	48
2015 and Prior	86
Financing Receivable, Revolving	333
Total loans with credit quality measures	2,849
Consumer | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	3,879
2019	3,044
2018	663
2017	718
2016	141
2015 and Prior	94
Financing Receivable, Revolving	2,166
Total loans with credit quality measures	10,705
Consumer | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	5,334
2019	2,729
2018	3,235
2017	349
2016	87
2015 and Prior	44
Financing Receivable, Revolving	4,511
Total loans with credit quality measures	16,289
Consumer | Substandard non-accrual
Internal risk grades of non-covered loans
2017	31
2015 and Prior	22
Total loans with credit quality measures	53
Consumer | Other
Internal risk grades of non-covered loans
2020	4,582
2019	1,686
2018	271
2017	51
2016	37
Financing Receivable, Revolving	197
Total loans with credit quality measures	6,824
Broker-dealer
Internal risk grades of non-covered loans
Loans without credit quality measures	502,295
Total loans	$ 502,295	$ 576,527

Loans Held for Investment - Cre

Loans Held for Investment - Credit Loss Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Allowance for loan losses
Allowance for credit losses	$ 155,214	$ 155,214	$ 156,383	$ 61,136	$ 55,604	$ 55,177	$ 59,486
Increase in allowance on individually evaluated loans	1,200	22,600
Increase in allowance on collectively evaluated loans	600	77,200
Allowance for Loan and Lease Losses Write-offs, Net	$ 600	$ 18,500
ASU 2016-13
Allowance for loan losses
Allowance for credit losses				73,700
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses
Allowance for credit losses				12,562
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Changes in the allowance for loan losses
Balance, beginning of the year	$ 156,383	$ 55,177	$ 61,136	$ 59,486
Provision for (reversal of) credit losses	(602)	47	99,973	326
Loans charged off	(1,614)	(1,033)	(20,834)	(6,643)
Recoveries on charged off loans	1,047	1,413	2,377	2,435
Balance, end of the year	155,214	55,604	155,214	55,604
ASU 2016-13
Changes in the allowance for loan losses
Balance, beginning of the year			73,700
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses
Balance, beginning of the year			12,562
Commercial Real Estate
Changes in the allowance for loan losses
Balance, beginning of the year	106,551	25,114	31,595	27,100
Provision for (reversal of) credit losses	(2,527)	757	68,823	(1,229)
Loans charged off	(29)	(9)	(4,517)	(9)
Recoveries on charged off loans	571		592
Balance, end of the year	104,566	25,862	104,566	25,862
Commercial Real Estate | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses
Balance, beginning of the year			8,073
Commercial and Industrial
Changes in the allowance for loan losses
Balance, beginning of the year	31,863	20,414	17,964	21,980
Provision for (reversal of) credit losses	7,274	(1,625)	30,896	87
Loans charged off	(1,341)	(1,000)	(15,325)	(5,247)
Recoveries on charged off loans	382	1,393	1,450	2,362
Balance, end of the year	38,178	19,182	38,178	19,182
Commercial and Industrial | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses
Balance, beginning of the year			3,193
Construction and land development
Changes in the allowance for loan losses
Balance, beginning of the year	8,393	4,396	4,878	6,061
Provision for (reversal of) credit losses	(2,123)	392	815	(1,273)
Loans charged off			(2)
Recoveries on charged off loans			2
Balance, end of the year	6,270	4,788	6,270	4,788
Construction and land development | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses
Balance, beginning of the year			577
1 - 4 family residential
Changes in the allowance for loan losses
Balance, beginning of the year	7,399	4,924	6,386	3,956
Provision for (reversal of) credit losses	(2,213)	485	(813)	2,321
Loans charged off	(144)	(12)	(517)	(911)
Recoveries on charged off loans	10	14	25	45
Balance, end of the year	5,052	5,411	5,052	5,411
1 - 4 family residential | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses
Balance, beginning of the year			(29)
Consumer
Changes in the allowance for loan losses
Balance, beginning of the year	1,429	283	265	267
Provision for (reversal of) credit losses	(411)	(9)	154	449
Loans charged off	(100)	(12)	(473)	(476)
Recoveries on charged off loans	84	6	308	28
Balance, end of the year	1,002	268	1,002	268
Consumer | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses
Balance, beginning of the year			748
Broker-dealer
Changes in the allowance for loan losses
Balance, beginning of the year	748	46	48	122
Provision for (reversal of) credit losses	(602)	47	98	(29)
Balance, end of the year	$ 146	$ 93	$ 146	$ 93

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Change in fair value of mortgage servicing rights
Balance, beginning of year			$ 55,504
Balance, end of year	$ 127,712		127,712		$ 55,504
MSR
Change in fair value of mortgage servicing rights
Balance, beginning of year	81,264	$ 53,695	55,504	$ 66,102	66,102
Additions	59,351	4,166	123,266	8,574
Sales			(18,650)
Changes in fair value: Due to changes in model inputs or assumptions	(10,145)	(3,769)	(26,023)	(17,541)
Changes in fair value: Due to customer payoffs	(2,758)	(2,795)	(6,385)	(5,838)
Balance, end of year	127,712	$ 51,297	127,712	$ 51,297	55,504
Mortgage loans serviced for others	$ 13,650,523		$ 13,650,523		$ 4,948,441
MSR asset as a percentage of serviced mortgage loans	0.94%		0.94%		1.12%
Key Assumptions
Weighted average constant prepayment rate (as a percent)			12.97%		13.16%
Weighted average discount rate (as a percent)			14.65%		11.14%
Weighted average life (in years)			6 years 1 month 6 days		6 years

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - MSR - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (4,859)		$ (4,859)		$ (3,072)
Constant prepayment rate: Impact of 20% adverse change	(9,487)		(9,487)		(5,943)
Discount rate: Impact of 10% adverse change	(4,844)		(4,844)		(2,094)
Discount rate: Impact of 20% adverse change	(9,252)		(9,252)		$ (4,028)
Contractually specified servicing fees, late fees and ancillary fees	$ 10,300	$ 6,300	$ 21,300	$ 19,200

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deposits
Noninterest-bearing demand	$ 3,557,603	$ 2,769,556
Interest-bearing:
Demand	2,058,874	1,881,614
Brokered - demand	269,472
Money market	2,885,824	2,641,116
Brokered - money market	162,184	5,000
Savings	251,027	199,076
Time	1,505,225	1,505,375
Brokered - time	571,706	30,477
Total deposits	$ 11,261,915	$ 9,032,214

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2019USD ($)item	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Short-term borrowings
Short-term borrowings	$ 1,424,010	$ 780,109
Hilltop Broker-Dealers
Short-term borrowings
Weighted average interest rate (as a percent)	2.52%	1.25%
Federal Funds Purchased.
Short-term borrowings
Short-term borrowings	$ 81,625	$ 149,150
Securities Sold under Agreements to Repurchase
Short-term borrowings
Short-term borrowings	612,125	261,703
FHLB notes
Short-term borrowings
Short-term borrowings	$ 600,000
Average balance during the year		$ 51,606	$ 280,824
Average interest rate during the year		1.62%	2.34%
Average interest rate at end of year (as a percent)	1.56%
FHLB notes | Maximum
Short-term borrowings
Maturity term of debt		365 days
Short Term Bank Loans.
Short-term borrowings
Short-term borrowings	$ 111,000	$ 103,500
Commercial paper
Short-term borrowings
Short-term borrowings	$ 19,260	$ 265,756
Number of commercial paper programs initiated | item	2
Weighted average maturity term		154 days
Weighted average interest rate (as a percent)		1.65%
Debt instrument, collateral		$ 171,600
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		$ 547,925	$ 609,162
Average interest rate during the year		1.03%	2.57%
Average interest rate at end of year (as a percent)	1.97%	0.30%
Securities underlying the agreements at end of period: Carrying value	$ 612,515	$ 261,771
Securities underlying the agreements at end of period: Estimated fair value	$ 661,023	$ 279,403

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Thousands	May 07, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument
Notes payable		$ 396,006	$ 256,269
Senior Notes due April 2025
Debt Instrument
Notes payable		148,893	148,768
Unamortized discount		1,107	1,232
Subordinated Debt
Debt Instrument
Percentage of principal amount representing price to public	100.00%
Underwriting discounts, fees and expenses	$ 3,400
Net proceeds from the offering, after deducting estimated fee and expenses and the initial purchaser' discounts	$ 196,600
Percentage of redemption price	100.00%
Subordinated Notes due May 2030
Debt Instrument
Notes payable		49,186
Unamortized discount		814
Aggregate principal amount	$ 50,000
Interest rate (as a percent)	5.75%
Subordinated Notes due May 2030 | Three-month term SOFR
Debt Instrument
Margin on interest rate (as a percent)	5.68%
Subordinated Notes Due May 2035
Debt Instrument
Notes payable		147,567
Unamortized discount		2,433
Aggregate principal amount	$ 150,000
Interest rate (as a percent)	6.125%
Subordinated Notes Due May 2035 | Three-month term SOFR
Debt Instrument
Margin on interest rate (as a percent)	5.80%
FHLB notes
Debt Instrument
Notes payable			28,848
Unamortized discount		0	146
Ventures Management lines of credit
Debt Instrument
Notes payable		$ 50,360	$ 78,653

Lease - Supplemental balance sh

Lease - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(4,620)	(4,178)
Premises and equipment, net	$ 3,160	$ 3,602

Lease - Components of lease cos

Lease - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Components of operating lease costs
Operating lease cost	$ 11,067	$ 11,123	$ 32,318	$ 32,253
Less operating lease and sublease income	(363)	(846)	(1,336)	(1,897)
Net operating lease cost	10,704	10,277	30,982	30,356
Amortization of ROU assets	147	147	442	442
Interest on lease liabilities	139	148	424	450
Total finance lease cost	$ 286	$ 295	$ 866	$ 892

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases
Operating cash flows from operating leases	$ 27,994	$ 29,047
Operating cash flows from finance leases	424	450
Financing cash flows from finance leases	472	438
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 8,773	$ 25,951

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Sep. 30, 2020	Dec. 31, 2019
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 7 months 6 days	5 years 10 months 24 days
Finance - Weighted Average Remaining Lease Term (Years)	5 years 10 months 24 days	6 years 6 months
Operating - Weighted Average Discount Rate	4.87%	5.29%
Finance - Weighted Average Discount Rate	4.80%	4.79%

Lease - Lease maturities - ASC

Lease - Lease maturities - ASC 842 (Details) $ in Thousands	Sep. 30, 2020USD ($)
Operating leases maturities
2020	$ 4,450
2021	33,880
2022	27,373
2023	21,920
2024	14,765
Thereafter	39,110
Total minimum lease payments	141,498
Less amount representing interest	(19,096)
Lease liabilities	122,402
Finance Leases maturities:
2020	301
2021	1,212
2022	1,241
2023	1,280
2024	1,163
Thereafter	2,297
Total minimum lease payments	7,494
Less amount representing interest	(2,471)
Lease liabilities	$ 5,023

Lease - Operating leases that h

Lease - Operating leases that have not yet commenced (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Leases
Additional operating leases that have not yet commenced	$ 24,400
Aggregate remaining lease obligation	$ 141,498
Minimum
Leases
Expected to commence	5 years
Maximum
Leases
Expected to commence	11 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Taxes
Effective income tax rate (as a percent)	22.70%	21.90%	23.00%	22.50%

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 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	$ 35,194	$ 33,074	$ 32,144	$ 33,784
Claims made	2,558	6,423	14,770	16,110
Claims resolved with no payment	(45)	(7,022)	(1,702)	(14,289)
Repurchases	(1,582)	(1,506)	(8,965)	(4,150)
Indemnification payments		(243)	(122)	(729)
Balance, end of year	36,125	30,726	36,125	30,726
Reserve for Indemnification Liability:
Total	36,125	30,726	36,125	30,726	$ 36,125	$ 32,144
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses	3,100	1,000	7,700	2,200
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year	15,463	10,833	11,776	10,701
Additions for new sales	3,066	954	6,688	2,236
Repurchases	(133)	(117)	(613)	(325)
Early payment defaults	(413)	(51)	(815)	(290)
Indemnification payments		(87)	(40)	(182)
Change in reserves for loans sold in prior years		(81)	987	(689)
Balance, end of year	17,983	11,451	17,983	11,451
Reserve for Indemnification Liability:
Specific claims					1,426	1,071
Incurred but not reported claims					16,557	10,705
Total	$ 17,983	$ 11,451	$ 11,776	$ 11,451	$ 17,983	$ 11,776

Financial Instruments with Of_3

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Financial Instruments with Off-Balance Sheet Risk
Credit loss	$ 9,318	$ 2,186	$ 9,318	$ 2,186	$ 9,318
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period	9,031	2,263	2,075	2,366
Transition adjustment CECL accounting standard			3,837
Other noninterest expense	(287)	77	(3,406)	180
Balance, end of period	$ 9,318	$ 2,186	9,318	$ 2,186
Cumulative Effect, Period of Adoption, Adjustment | ASU 2016-13
Financial Instruments with Off-Balance Sheet Risk
Credit loss			5,900
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period			$ 5,900
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					$ 90,100

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
2012 Plan
Stock based compensation
Number of additional awards permissible under the plan			0
2020 Plan
Stock based compensation
Common stock remaining available for issuance (in shares)	3,514,437		3,514,437
Compensation expense	$ 3.9	$ 3.1	$ 11	$ 8.1
2020 Plan | Maximum
Stock based compensation
Number of awards approved for grant (in shares)	3,650,000		3,650,000
2020 Plan | Board of Directors
Stock based compensation
Common shares granted to members of board of directors as compensation for director services			25,817	20,806

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2020 Plan - RSUs shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of shares outstanding
Balance at the beginning of the period ( in shares) | shares	1,437
Granted (in shares) | shares	690
Vested/Released (in shares) | shares	(350)
Forfeited (in shares) | shares	(24)
Balance at the end of the period ( in shares) | shares	1,753
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	21.66
Vested/Released (in dollars per share) | $ / shares	26.83
Forfeited (in dollars per share) | $ / shares	22.48
Balance at the end of the period (in dollars per share) | $ / shares	$ 21.42

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2020 Plan - RSUs $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)shares
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)	57,873
Vested RSUs which require deferral of share settlement and statutory tax obligations	5,482
Number of shares awarded (in shares)	690,000
Number of awards subject to time-based vesting (in shares)	1,463,271
Number of awards vesting upon achievement of performance goals (in shares)	289,493
Performance period	3 years
Vesting period	3 years
Unrecognized compensation expense | $	$ 21.7
Weighted average period for unrecognized compensation expense (in years)	1 year 8 months 4 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	675,805
Number of awards subject to time-based vesting (in shares)	550,673
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) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Regulatory matters
Regulatory capital effects from CECL transitionary period	5 years
PlainsCapital (the Bank)
Tier 1 capital (to average assets)
Actual Amount	$ 1,382,293	$ 1,236,289
Actual Ratio (as a percent)	10.19	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	5
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 1,382,293	$ 1,236,289
Actual Ratio (as a percent)	14.64	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	$ 1,382,293	$ 1,236,289
Actual Ratio (as a percent)	14.64	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	8
Total capital (to risk-weighted assets)
Actual Amount	$ 1,462,750	$ 1,299,453
Actual Ratio (as a percent)	15.49	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	10
Hilltop
Tier 1 capital (to average assets)
Actual Amount	$ 2,193,424	$ 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	$ 2,128,424	$ 1,776,381
Actual Ratio (as a percent)	19.85	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	$ 2,193,424	$ 1,822,970
Actual Ratio (as a percent)	20.46	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	$ 2,488,900	$ 1,867,771
Actual Ratio (as a percent)	23.22	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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 221,621	$ 157,436	$ 83,878
Hilltop Securities
Net Capital
Net capital	310,559
Less required net capital	7,427
Excess net capital	$ 303,132
Net capital as a percentage of aggregate debit items	83.60%
Net capital in excess of 5% aggregate debt items	$ 291,991
HTS Independent Network
Net Capital
Net capital	3,366
Less required net capital	250
Excess net capital	3,116
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 221,600	$ 157,400

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 22, 2020	Sep. 23, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jan. 31, 2020
Stock repurchase program
Cash dividends declared per common share	$ 0.09		$ 0.09	$ 0.08	$ 0.27	$ 0.24
Cash dividends paid					$ 24,400	$ 22,400
Repurchase common stock authorized amount							$ 75,000
Payments to repurchase shares					$ 15,250	$ 73,385
Repurchase of common stock (in shares)					720,901
Average price (per share)					$ 21.13
Aggregate cash purchase price		$ 350,000
Minimum
Stock repurchase program
Tender offer price per share		$ 18.25
Maximum
Stock repurchase program
Tender offer price per share		$ 21

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 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	$ 23,286	$ 5,881	$ 90,429	$ 23,285
Not designated as hedges | Hilltop Broker-Dealers
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	(3,542)	(5,984)	8,466	4,790
Not designated as hedges | PlainsCapital (the Bank)
Derivative financial instruments
Net gain (loss) due to changes in the fair value of the derivative instruments	118	$ (25)	(17)	$ (171)
IRLCs | Not designated as hedges
Derivative financial instruments
Notional Amount	3,513,711		3,513,711		$ 914,526
Estimated Fair Value	115,699		115,699		18,222
Customer-based written options | Not designated as hedges
Derivative financial instruments
Notional Amount					31,200
Customer-based purchased options | Not designated as hedges
Derivative financial instruments
Notional Amount					31,200
Commitments to Purchase MBSs | Not designated as hedges
Derivative financial instruments
Notional Amount	2,645,029		2,645,029		3,346,946
Estimated Fair Value	9,238		9,238		3,321
Commitments to Sell MBSs | Not designated as hedges
Derivative financial instruments
Notional Amount	7,470,095		7,470,095		5,988,198
Estimated Fair Value	(8,277)		(8,277)		(5,904)
Commitments to Sell MBSs | Not designated as hedges | Prime Lending
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	15,500		15,500		4,500
Interest rate swaps | Not designated as hedges
Derivative financial instruments
Notional Amount	51,122		51,122		15,012
Estimated Fair Value	(70)		(70)		(178)
Interest rate swaps | Cash Flow Hedging | Designated as hedges
Derivative financial instruments
Notional Amount	105,000		105,000		50,000
Estimated Fair Value	(3,689)		(3,689)		528
U.S. Treasury bond futures and options | Not designated as hedges
Derivative financial instruments
Notional Amount	160,400		160,400		283,500
Eurodollar futures | Not designated as hedges
Derivative financial instruments
Notional Amount	12,000		12,000		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	$ 1,900		$ 1,900		$ 3,700

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 90,103	$ 59,031
Total
Gross Amounts of Recognized Assets	1,387,473	1,697,453
Net Amounts of Assets Presented in the Balance Sheet	1,387,473	1,697,453
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,336,381)	(1,649,079)
Net Amount	51,092	48,374
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,285,509	1,634,782
Net Amounts of Assets Presented in the Balance Sheet	1,285,509	1,634,782
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,235,409)	(1,586,820)
Net Amount	50,100	47,962
Interest rate swaps | Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	13
Net Amounts of Assets Presented in the Balance Sheet	13
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(13)
Reverse repurchase agreements | Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	90,103	59,031
Net Amounts of Assets Presented in the Balance Sheet	90,103	59,031
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(89,111)	(58,619)
Net Amount	992	412
Forward MBS Derivatives | Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	11,848	3,640
Net Amounts of Assets Presented in the Balance Sheet	11,848	3,640
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(11,848)	(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	Sep. 30, 2020	Dec. 31, 2019
Total
Gross Amounts of Recognized Liabilities	$ 1,451,485	$ 2,175,157
Gross Amounts Offset in the Balance Sheet	(1,714)	(667)
Net Amounts of Liabilities Presented in the Balance Sheet	1,449,771	2,174,490
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,390,850)	(2,124,554)
Net Amount	58,921	49,936
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,177,098	1,555,964
Net Amounts of Liabilities Presented in the Balance Sheets	1,177,098	1,555,964
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,129,147)	(1,509,933)
Net Amount	47,951	46,031
Institutional Counterparties | Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities	83	178
Net Amounts of Liabilities Presented in the Balance Sheet	83	178
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(112)
Net Amount	83	66
Institutional Counterparties | Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	261,703	586,651
Net Amounts of Liabilities Presented in the Balance Sheet	261,703	586,651
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(261,703)	(586,651)
Net Amount	0	0
Institutional Counterparties | Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	12,601	6,890
Gross Amounts Offset in the Balance Sheet	(1,714)	(667)
Net Amounts of Liabilities Presented in the Balance Sheet	10,887	6,223
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(2,384)
Net Amount	$ 10,887	3,839
Customer Counterparties | Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities		25,474
Net Amounts of Liabilities Presented in the Balance Sheet		25,474
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(25,474)
Net Amount		$ 0

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	9 Months Ended
	Sep. 30, 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	$ 1,438,801	$ 2,168,089
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 1,438,801	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	$ 1,334,988	1,859,310
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	96,720	12,892
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	7,093	295,887
US Treasury and agency securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions		45,950
US Treasury and agency securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions		45,950
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	261,703	566,175
Assets-backed securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	157,890	257,396
Assets-backed securities | Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	96,720	12,892
Assets-backed securities | Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	7,093	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	1,176,985	1,555,844
Equity Securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,176,985	$ 1,555,844

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Receivables:
Securities borrowed	$ 1,285,509	$ 1,634,782
Securities failed to deliver	74,650	18,726
Trades in process of settlement		104,922
Other	3,319	21,850
Total receivables	1,363,478	1,780,280
Payables:
Securities loaned	1,177,098	1,555,964
Correspondents	36,928	37,036
Securities failed to receive	68,365	8,568
Trades in process of settlement	23,628
Other	4,816	3,950
Total Payables	$ 1,310,835	$ 1,605,518

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Information about the revenues, operating results, goodwill and assets
Number of reportable segments | segment			3
Net interest income (expense)	$ 101,900	$ 112,646	$ 316,794	$ 328,219
Provision for (reversal of) credit losses	(602)	47	99,973	326
Noninterest income	502,711	306,505	1,242,549	799,171
Noninterest expense	399,345	321,186	1,051,455	904,021
Income from continuing operations before income taxes	205,868	97,918	407,915	223,043
Income from discontinued operations before taxes	736	6,539	35,180	10,519
Income before income taxes	206,604	104,457	443,095	233,562
Goodwill	267,447		267,447		$ 267,447
Assets of discontinued operations					248,429
Total assets	16,935,552		16,935,552		15,172,448
Operating segment | Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	96,416	97,642	284,440	283,755
Provision for (reversal of) credit losses			99,875	355
Noninterest income	9,819	8,856	29,246	30,219
Noninterest expense	55,980	53,767	169,569	172,744
Income from continuing operations before income taxes	50,255	52,731	44,242	140,875
Income before income taxes	50,255	52,731	44,242	140,875
Goodwill	247,368		247,368		247,368
Total assets	13,380,146		13,380,146		11,147,344
Operating segment | Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	8,168	13,724	31,005	37,984
Provision for (reversal of) credit losses	(602)	47	98	(29)
Noninterest income	141,022	107,742	350,192	304,607
Noninterest expense	114,393	94,411	299,743	277,088
Income from continuing operations before income taxes	35,399	27,008	81,356	65,532
Income before income taxes	35,399	27,008	81,356	65,532
Goodwill	7,008		7,008		7,008
Total assets	3,098,564		3,098,564		3,457,068
Operating segment | Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(2,349)	(2,725)	(3,647)	(4,224)
Noninterest income	355,471	194,857	874,926	477,438
Noninterest expense	207,176	160,634	547,222	417,032
Income from continuing operations before income taxes	145,946	31,498	324,057	56,182
Income before income taxes	145,946	31,498	324,057	56,182
Goodwill	13,071		13,071		13,071
Total assets	2,983,663		2,983,663		2,357,415
Operating segment | Insurance Segment
Information about the revenues, operating results, goodwill and assets
Income from discontinued operations before taxes		6,539	2,103	10,519
Income before income taxes		6,539	2,103	10,519
Assets of discontinued operations					248,429
Total assets					248,429
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(4,594)	(1,384)	(9,482)	(4,045)
Noninterest income	477	460	3,315	1,820
Noninterest expense	21,999	12,561	35,741	37,397
Income from continuing operations before income taxes	(26,116)	(13,485)	(41,908)	(39,622)
Income from discontinued operations before taxes	736		33,077
Income before income taxes	(25,380)	(13,485)	(8,831)	(39,622)
Total assets	2,938,698		2,938,698		2,393,604
All Other and Eliminations.
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	4,259	5,389	14,478	14,749
Noninterest income	(4,078)	(5,410)	(15,130)	(14,913)
Noninterest expense	(203)	(187)	(820)	(240)
Income from continuing operations before income taxes	384	166	168	76
Income before income taxes	384	$ 166	168	$ 76
Total assets	$ (5,465,519)		$ (5,465,519)		$ (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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic earnings per share:
Participating securities	0	0	0	0
Income from continuing operations	$ 152,543	$ 74,157	$ 296,729	$ 167,648
Income from discontinued operations	736	5,261	34,662	8,367
Income attributable to Hilltop	$ 153,279	$ 79,418	$ 331,391	$ 176,015
Weighted average shares outstanding - basic	90,200	91,745	90,291	92,931
Income from continuing operations (in dollars per share)	$ 1.69	$ 0.81	$ 3.29	$ 1.80
Earnings from discontinued operations	0.01	0.06	0.38	0.09
Basic earnings per common share (in dollars per share)	$ 1.70	$ 0.87	$ 3.67	$ 1.89
Diluted earnings per share:
Income from continuing operations	$ 152,543	$ 74,157	$ 296,729	$ 167,648
Income from discontinued operations	736	5,261	34,662	8,367
Income attributable to Hilltop	$ 153,279	$ 79,418	$ 331,391	$ 176,015
Weighted average shares outstanding - basic	90,200	91,745	90,291	92,931
Effect of potentially dilutive securities (in shares)		79		28
Weighted average shares outstanding - diluted	90,200	91,824	90,291	92,959
Income from continuing operations (in dollars per share)	$ 1.69	$ 0.81	$ 3.29	$ 1.80
Earnings from discontinued operations	0.01	0.05	0.38	0.09
Diluted earnings per common share (in dollars per share)	$ 1.70	$ 0.86	$ 3.67	$ 1.89