Hilltop (HTH) 10-K 17 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 16, 2021	Jun. 30, 2020
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-31987
Entity Registrant Name	Hilltop Holdings Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	84-1477939
Entity Address, Address Line One	6565 Hillcrest Avenue
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75205
City Area Code	214
Local Phone Number	855-2177
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
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		82,188,513
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 1,180

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 1,062,560	$ 433,626
Federal funds sold	386	394
Assets segregated for regulatory purposes	290,357	157,436
Securities purchased under agreements to resell	80,319	59,031
Securities:
Trading, at fair value	694,255	689,576
Available for sale, at fair value, net (amortized cost of $1,435,919 and 899,817, respectively)	1,462,205	911,493
Held to maturity, at amortized cost, net (fair value of $326,671 and $388,930, respectively)	311,944	386,326
Equity, at fair value	140	166
Total securities	2,468,544	1,987,561
Loans held for sale	2,788,386	2,106,361
Loans held for investment, net of unearned income	7,693,141	7,381,400
Allowance for credit losses	(149,044)	(61,136)
Loans held for investment, net	7,544,097	7,320,264
Broker-dealer and clearing organization receivables	1,404,727	1,780,280
Premises and equipment, net	211,595	210,375
Operating lease right-of-use assets	105,757	114,320
Mortgage servicing rights	143,742	55,504
Other assets	555,983	404,754
Goodwill	267,447	267,447
Other intangible assets, net	20,364	26,666
Assets of discontinued operations		248,429
Total assets	16,944,264	15,172,448
Deposits:
Noninterest-bearing	3,612,384	2,769,556
Interest-bearing	7,629,935	6,262,658
Total deposits	11,242,319	9,032,214
Broker-dealer and clearing organization payables	1,368,373	1,605,518
Short-term borrowings	695,798	1,424,010
Securities sold, not yet purchased, at fair value	79,789	43,817
Notes payable	381,987	256,269
Operating lease liabilities	125,450	125,619
Junior subordinated debentures	67,012	67,012
Other liabilities	632,889	348,519
Liabilities of discontinued operations		140,674
Total liabilities	14,593,617	13,043,652
Commitments and contingencies (see Notes 21 and 22)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 82,184,993 and 90,640,944 shares issued and outstanding at December 31, 2020 and 2019, respectively	822	906
Additional paid-in capital	1,317,929	1,445,233
Accumulated other comprehensive income	17,763	11,419
Retained earnings	986,792	644,860
Deferred compensation employee stock trust, net	771	776
Employee stock trust (6,930 and 7,794 shares, at cost, at December 31, 2020 and 2019, respectively)	(138)	(155)
Total Hilltop stockholders' equity	2,323,939	2,103,039
Noncontrolling interests	26,708	25,757
Total stockholders' equity	2,350,647	2,128,796
Total liabilities and stockholders' equity	$ 16,944,264	$ 15,172,448

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 1,435,919	$ 899,817
Held to maturity, fair value	$ 326,671	$ 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	82,184,893	90,640,944
Common stock, shares outstanding	82,184,893	90,640,944
Employee stock trust, shares	6,930	7,794

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income:
Loans, including fees	$ 433,311	$ 460,471	$ 436,725
Securities borrowed	51,360	69,582	66,914
Securities:
Taxable	48,273	58,493	46,665
Tax-exempt	6,698	6,159	6,834
Other	6,853	15,991	17,485
Total interest income	546,495	610,696	574,623
Interest expense:
Deposits	47,040	71,509	46,002
Securities loaned	42,816	60,086	56,733
Short-term borrowings	11,611	26,778	25,816
Notes payable	15,897	8,948	8,483
Junior subordinated debentures	2,772	3,851	3,663
Other	2,193	545	627
Total interest expense	122,329	171,717	141,324
Net interest income	424,166	438,979	433,299
Provision for credit losses	96,491	7,206	5,088
Net interest income after provision for credit losses	327,675	431,773	428,211
Noninterest income:
Net gains from sale of loans and other mortgage production income	1,001,059	504,935	445,116
Mortgage loan origination fees	171,769	130,003	103,563
Securities commissions and fees	142,720	137,742	150,989
Investment and securities advisory fees and commissions	131,327	103,787	90,066
Other	243,605	186,350	90,396
Total noninterest income	1,690,480	1,062,817	880,130
Noninterest expense:
Employees' compensation and benefits	1,059,645	844,602	757,214
Occupancy and equipment, net	99,416	113,336	113,923
Professional services	69,984	60,565	69,799
Other	224,758	193,386	212,392
Total noninterest expense	1,453,803	1,211,889	1,153,328
Income from continuing operations before income taxes	564,352	282,701	155,013
Income tax expense	133,071	63,714	34,227
Income from continuing operations	431,281	218,987	120,786
Income from discontinued operations, net of income taxes	38,396	13,990	4,941
Net income	469,677	232,977	125,727
Less: Net income attributable to noncontrolling interest	21,841	7,686	4,286
Income attributable to Hilltop	$ 447,836	$ 225,291	$ 121,441
Basic:
Earnings from continuing operations (in dollars per share)	$ 4.59	$ 2.29	$ 1.23
Earnings from discontinued operations (in dollars per share)	0.43	0.15	0.05
Basic earnings per common share (in dollars per share)	5.02	2.44	1.28
Diluted:
Earnings from continuing operations (in dollars per share)	4.58	2.29	1.23
Earnings from discontinued operations (in dollars per share)	0.43	0.15	0.05
Diluted earnings per common share (in dollars per share)	$ 5.01	$ 2.44	$ 1.28
Weighted average share information:
Basic (in shares)	89,280	92,345	94,969
Diluted (in shares)	89,304	92,394	95,067

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 469,677	$ 232,977	$ 125,727
Other comprehensive income:
Change in fair value of cash flow and fair value hedges, net of tax of $(820), $111 and $0, respectively	(2,950)	417
Net unrealized gains (losses) on securities available for sale, net of tax of $2,756, $6,276 and $(1,558), respectively	9,111	21,599	(5,632)
Reclassification adjustment for gains (losses) included in net income, net of tax of $55, $(573) and $0, respectively	183	(1,970)
Comprehensive income	476,021	253,023	120,095
Less: comprehensive income attributable to noncontrolling interest	21,841	7,686	4,286
Comprehensive income applicable to Hilltop	$ 454,180	$ 245,337	$ 115,809

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Cash flow hedge, tax	$ (820)	$ 111	$ 0
Net unrealized gains on securities available for sale, tax	2,756	6,276	(1,558)
Reclassification adjustment, tax	$ 55	$ (573)	$ 0

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)Cumulative Effect, Period of Adoption, Adjustment	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, 2017		$ 1,912,081	$ 960	$ 1,526,369		$ (394)		$ 384,545	$ 848	$ (247)	$ 2,726		$ 1,914,807
Balance (in shares) at Dec. 31, 2017			95,982,000							12,000
Increase (Decrease) in Stockholders' Equity
Net income		121,441						121,441			4,286		125,727
Other comprehensive income (loss)		(5,632)				(5,632)							(5,632)
Stock-based compensation expense		8,454		8,454									8,454
Common stock issued to board members		654		654									654
Common stock issued to board members (in shares)			30,000
Issuance of common stock related to share-based awards, net		(1,847)	$ 3	(1,850)									(1,847)
Issuance of common stock related to share-based awards, net (in shares)			327,000
Repurchases of common stock		(58,990)	$ (27)	(43,811)				(15,152)					$ (58,990)
Repurchases of common stock (in shares)			(2,729,000)										(2,729,568)
Dividends on common stock		(26,698)						(26,698)					$ (26,698)
Deferred compensation plan		7							(23)	$ 30			7
Deferred compensation plan (in shares)										(1,000)
Net cash contributed from noncontrolling interest											17,411		17,411
Balance at Dec. 31, 2018		1,949,470	$ 936	1,489,816	$ 2,601	(8,627)	$ (2,601)	466,737	825	$ (217)	24,423		1,973,893
Balance (in shares) at Dec. 31, 2018			93,610,000							11,000
Increase (Decrease) in Stockholders' Equity
Net income		225,291						225,291			7,686		232,977
Other comprehensive income (loss)		20,046				20,046							20,046
Stock-based compensation expense		11,243		11,243									11,243
Common stock issued to board members		573		573									573
Common stock issued to board members (in shares)			27,000
Issuance of common stock related to share-based awards, net		(1,978)	$ 4	(1,982)									(1,978)
Issuance of common stock related to share-based awards, net (in shares)			394,000
Repurchases of common stock		(73,385)	$ (34)	(54,417)				(18,934)					$ (73,385)
Repurchases of common stock (in shares)			(3,390,000)										(3,390,247)
Dividends on common stock		(29,627)						(29,627)					$ (29,627)
Deferred compensation plan		13							(49)	$ 62			13
Deferred compensation plan (in shares)										(3,000)
Net cash distributed to noncontrolling interest											(6,352)		(6,352)
Balance at Dec. 31, 2019	$ (1,393)	2,103,039	$ 906	1,445,233		11,419	(1,393)	644,860	776	$ (155)	25,757	$ (1,393)	2,128,796
Balance (in shares) at Dec. 31, 2019			90,641,000							8,000
Increase (Decrease) in Stockholders' Equity
Net income		447,836						447,836			21,841		469,677
Other comprehensive income (loss)		6,344				6,344							6,344
Stock-based compensation expense		14,089		14,089									14,089
Common stock issued to board members		586		586									586
Common stock issued to board members (in shares)			31,000
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		(208,664)	$ (87)	(140,888)				(67,689)					(208,664)
Repurchases of common stock (in shares)			(8,780,000)
Dividends on common stock		(32,524)						(32,524)					(32,524)
Deferred compensation plan		12							(5)	$ 17			12
Deferred compensation plan (in shares)										(1,000)
Net cash distributed to noncontrolling interest											(20,890)		(20,890)
Balance at Dec. 31, 2020	$ (5,691)	$ 2,323,939	$ 822	$ 1,317,929		$ 17,763	$ (5,691)	$ 986,792	$ 771	$ (138)	$ 26,708	$ (5,691)	$ 2,350,647
Balance (in shares) at Dec. 31, 2020			82,185,000							7,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Jan. 28, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.12	$ 0.09	$ 0.09	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.36	$ 0.32	$ 0.28

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net income	$ 469,677	$ 232,977	$ 125,727
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	96,491	7,206	5,088
Depreciation, amortization and accretion, net	21,930	(1,483)	(5,272)
Deferred income taxes	16,583	(4,063)	13,009
Other, net	11,849	15,445	8,972
Net change in securities purchased under agreements to resell	(21,288)	2,580	124,926
Net change in trading securities	(4,679)	55,890	(14,781)
Net change in broker-dealer and clearing organization receivables	515,073	(338,158)	23,618
Net change in other assets	(78,997)	61,688	33,321
Net change in broker-dealer and clearing organization payables	(152,158)	206,170	(7,054)
Net change in other liabilities	249,313	78,245	(78,708)
Net change in securities sold, not yet purchased	35,972	(37,850)	(151,154)
Proceeds from sale of mortgage servicing rights asset	35,142		9,303
Change in valuation of mortgage servicing rights asset	37,926	24,353	4,337
Net gains from sales of loans	(1,001,059)	(504,935)	(445,116)
Loans originated for sale	(26,766,999)	(16,644,259)	(14,287,551)
Proceeds from loans sold	26,848,663	16,413,647	15,037,339
Net cash provided by (used in) operating activities for continuing operations	313,439	(432,547)	396,004
Net cash used in operating activities for discontinued operations	(33,003)	(476)	(6,464)
Net cash provided by (used in) operating activities	280,436	(433,023)	389,540
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	81,140	73,924	43,699
Proceeds from sales, maturities and principal reductions of securities available for sale	433,828	296,812	215,368
Purchases of securities held to maturity	(7,553)	(109,622)	(39,259)
Purchases of securities available for sale	(975,289)	(415,763)	(306,005)
Net change in loans held for investment	(457,540)	(423,890)	(110,615)
Purchases of premises and equipment and other assets	(37,746)	(42,287)	(67,726)
Proceeds from sales of premises and equipment and other real estate owned	21,512	14,309	25,847
Net cash received from (paid to) Federal Home Loan Bank and Federal Reserve Bank stock	22,808	(17,092)	3,198
Net cash paid for acquisition			(63,245)
Other, net		904	(49)
Net cash used in investing activities for continuing operations	(918,840)	(622,705)	(298,787)
Net cash provided by investing activities for discontinued operations	1,941	18,413	9,120
Net cash received from disposal of discontinued operations	89,233
Net cash used in investing activities	(827,666)	(604,292)	(289,667)
Financing Activities
Net change in deposits	2,125,118	600,481	196,060
Net change in short-term borrowings	(729,110)	358,203	(140,617)
Proceeds from notes payable	1,451,249	1,055,772	664,045
Payments on notes payable	(1,325,711)	(1,000,960)	(643,921)
Payments to repurchase common stock	(208,664)	(73,385)	(58,990)
Dividends paid on common stock	(32,524)	(29,627)	(26,698)
Net cash distributed to (from) noncontrolling interest	(20,890)	(6,352)	17,411
Other, net	(1,724)	(2,494)	(2,657)
Net cash provided by financing activities	1,257,744	901,638	4,633
Net change in cash, cash equivalents and restricted cash	710,514	(135,677)	104,506
Cash, cash equivalents and restricted cash, beginning of year	642,789	778,466	673,960
Cash, cash equivalents and restricted cash, end of year	1,353,303	642,789	778,466
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	124,934	168,535	143,201
Cash paid for income taxes, net of refunds	123,553	56,901	8,378
Supplemental Schedule of Non-Cash Activities
Derecognition of construction in progress related to build-to-suit lease obligations			27,802
Conversion of loans to other real estate owned	13,865	4,669	6,899
Additions to mortgage servicing rights	$ 162,914	$ 13,755	$ 25,028

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 433,626	$ 598,999
Cash and due from banks, included within assets of discontinued operations	51,333	45,074
Federal funds sold	394	400
Assets segregated for regulatory purposes	157,436	133,993
Total cash, cash equivalents and restricted cash	$ 642,789	$ 778,466

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	12 Months Ended
	Dec. 31, 2020
Summary of Significant Accounting and Reporting Policies
Summary of Significant Accounting and Reporting Policies	1. Summary of Significant Accounting and Reporting Policies ​ Nature of Operations ​ Hilltop Holdings Inc. (“Hilltop” and, collectively with its subsidiaries, the “Company”) is a financial holding company registered under the Bank Holding Company Act of 1956. The Company’s primary line of business is to provide business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the “Bank”). In addition, the Company provides an array of financial products and services through its broker-dealer 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 comprised the operations of the former insurance segment, for cash proceeds of $154.1 million and was 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. ​ As a result of the above noted sale of NLC, the Company, headquartered in Dallas, Texas, provides its products and services through two primary business units 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, clearing, securities lending, structured finance and retail brokerage services throughout the United States. Unless otherwise noted, the Company’s notes to the consolidated financial statements present information limited to continuing operations. ​ 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 audited 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”). Other than changes related to the implementation of the current expected credit losses (“CECL”) standard, as further described in Note 2 to the consolidated financial statements, 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”), Momentum Independent Network Inc., formerly Hilltop Securities Independent Network Inc., (“Momentum 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 Securities and Exchange Commission (“SEC”) and Financial Industry Regulatory Authority (“FINRA”) and a member of the New York Stock Exchange (“NYSE”), Momentum Independent Network is an introducing broker-dealer that is also registered with the SEC and FINRA. Hilltop Securities, Momentum 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 Investments I, LLC ​ The consolidated financial statements include the accounts of the above-named entities. Intercompany transactions and balances have been eliminated. Noncontrolling interests have been recorded for minority ownership in entities that are not wholly owned and are presented in compliance with the provisions of Noncontrolling Interest in Subsidiary Subsections of the ASC. ​ Certain reclassifications have been made to the prior period consolidated financial statements to conform with the current period presentation, including reclassifications due to the adoption of new accounting pronouncements 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. ​ Use of Estimates ​ 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 assets are particularly subject to change. The Company has applied its critical accounting policies and estimation methods consistently in all periods presented in these consolidated financial statements. ​ Acquisition Accounting ​ Acquisitions are accounted for under the acquisition method of accounting. Purchased assets, including identifiable intangible assets, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a bargain purchase gain is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. ​ Securities Purchased Under Agreements to Resell ​ Securities purchased under agreements to resell (reverse repurchase agreements or reverse repos) are treated as collateralized financings and are carried at the amounts at which the securities will subsequently be resold as specified in the agreements. The Company is in possession of collateral with a fair value equal to or in excess of the contract amounts. ​ Securities ​ Management classifies securities at the time of purchase and reassesses such designation at each balance sheet date. Securities held for resale to facilitate principal transactions with customers are classified as trading and are carried at fair value, with changes in fair value reflected in the consolidated statements of operations. 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. ​ 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. ​ Under the new credit loss guidance adopted on January 1, 2020, the previous other-than-temporary-impairment (“OTTI”) model was replaced. 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. 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 Sale ​ Loans held for sale consist primarily of single-family residential mortgages funded through PrimeLending. These loans are generally on the consolidated balance sheet between 30 and 45 days. Substantially all mortgage loans originated by PrimeLending are sold to various investors in the secondary market, historically with the majority with servicing released. Mortgage loans held for sale are carried at fair value in accordance with the provisions of the Fair Value Option Subsections of the ASC (the “Fair Value Option”). Changes in the fair value of the loans held for sale are recognized in earnings and fees and costs associated with origination are recognized as incurred. The specific identification method is used to determine realized gains and losses on sales of loans, which are reported as net gains (losses) in noninterest income. Loans sold are subject to certain indemnification provisions with investors, including the repurchase of loans sold and repayment of certain sales proceeds to investors under certain conditions. In addition, certain mortgage loans guaranteed by U.S. Government agencies and sold into Government National Mortgage Association (“GNMA”) pools may, under certain conditions specified in the government programs, become subject to repurchase by PrimeLending. When such loans subject to repurchase no longer qualify for sale accounting, they are reported as loans held for sale in the consolidated balance sheets. ​ Loans Held for Investment ​ Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the amount of unpaid principal reduced by unearned income, net unamortized deferred fees and an allowance for 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. In response to the ongoing COVID-19 pandemic, the Company allowed modifications, such as payment deferrals for up to 90 days and temporary forbearance, to credit-worthy borrowers who are experiencing temporary hardship due to the effects of COVID-19. These modifications generally meet the criteria of the CARES Act, and therefore, the Company does not account for such loan modifications as TDRs ​ 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. ​ 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. ​ Allowance for Loan Losses for Loans Held for Investment ​ Prior to the adoption of the new CECL standard as described in Note 2 to the consolidated financial statements, the Company’s allowance for loan losses was a reserve established through a provision for loan losses charged to or recovered from expense, which represents management’s best estimate of probable losses inherent in the existing portfolio of loans at the balance sheet date. The allowance for loan losses included allowance allocations calculated in accordance with the regulatory Interagency Policy Statement on the Allowance for Loan and Lease Losses and the Receivables and Contingencies Topics of the ASC. The level of the allowance reflected management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions, and unidentified losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilized its best judgment and information available, the ultimate adequacy of the allowance is dependent upon a variety of factors beyond its control, including the performance of the loan portfolio, the economy and changes in interest rates. ​ The Bank’s allowance for loan losses consisted of three elements: (i) specific valuation allowances established for probable losses on individually impaired loans; (ii) general historical valuation allowances calculated based on historical loan loss experience for homogenous loans with similar collateral; and (iii) valuation allowances to adjust general reserves based on current economic conditions and other qualitative risk factors, including projected loss emergence period, both internal and external to the Bank. ​ Changes in the volume and severity of past due, n

Recently Issued Accounting Stan

Recently Issued Accounting Standards	12 Months Ended
	Dec. 31, 2020
Recently Issued Accounting Standards
Recently Issued Accounting Standards	2. Recently Issued Accounting Standards ​ Accounting Standards Adopted During 2020 ​ In March 2020, FASB issued ASU 2020-03 which included various clarifications and improvements related to financial instruments. The following topics are addressed: fair value option disclosures, applicability of portfolio exception to non-financial items, disclosures for depository and lending institutions, cross-reference to line-of-credit or revolving debt arrangements, cross-reference to net asset value practical expedient, the contractual term of a net investment in a lease for measuring expected credit losses, and recording of an allowance for credit losses when control of financial assets sold is regained. All items had various effective dates, which for the Company ranged from January 1, 2020 to the date of issuance. The adoption of ASU 2020-03 did not have a material impact on the Company’s consolidated financial statements. ​ In December 2019, FASB issued ASU 2019-12 which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the ASC and is intended to improve consistency by clarifying and amending existing guidance. The amendments are effective for annual periods beginning after December 15, 2020. As permitted within the amendment, the Company elected to early adopt and prospectively apply the provisions of this amendment as of January 1, 2020. The removal of the exceptions did not result in a material change in the Company’s current or deferred income tax provisions and did not have a material impact on the Company’s consolidated financial statements. ​ In August 2018, FASB issued ASU 2018-15 which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include 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 ​ 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. Further, in January 2021, FASB issued ASU 2021-01, which clarifies that all derivative instruments affected by changes to the interest rates used for discounting, margining or contract price alignment are in the scope of ASU 2020-04 and therefore qualify for the available temporary optional expedients and exceptions. As such, entities that employ derivatives that are the designated hedged item in a hedge relationship where perfect effectiveness is assumed can continue to apply hedge accounting without de-designating the hedging relationship to the extent such derivatives are impacted by the discounting transition. The Company adopted the provisions of ASU 2020-04, as well as retrospectively applied the amendments of ASU 2021-01, as of December 31, 2020. The adoption of these amendments did not have a material impact on the Company’s consolidated financial statements. ​ Accounting Standards Issued But Not Yet Adopted ​ 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 adopted the provisions of ASU 2020-01 as of January 1, 2021. The impact of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. ​

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2020
Discontinued Operations
Discontinued Operations	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 former insurance segment, for cash proceeds of $154.1 million. During 2020, Hilltop recognized an aggregate gain associated with this transaction of $36.8 million, net of customary transaction costs of $5.1 million and was subject to post-closing adjustments. 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 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, at 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 ​ 2018 Interest income: ​ ​ ​ ​ ​ ​ ​ ​ Securities: ​ ​ ​ ​ ​ ​ ​ ​ Taxable $ 1,752 ​ $ 3,611 ​ $ 4,310 Other ​ 71 ​ ​ 522 ​ ​ 495 Total interest income ​ 1,823 ​ ​ 4,133 ​ ​ 4,805 ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ Notes payable ​ 775 ​ ​ 1,806 ​ ​ 1,780 ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income: ​ ​ ​ ​ ​ ​ ​ ​ Net insurance premiums earned ​ 65,077 ​ ​ 132,284 ​ ​ 136,751 Other ​ 3,051 ​ ​ 10,915 ​ ​ 5,909 Total noninterest income ​ 68,128 ​ ​ 143,199 ​ ​ 142,660 ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest expense: ​ ​ ​ ​ ​ ​ ​ ​ Employees' compensation and benefits ​ 6,002 ​ ​ 11,663 ​ ​ 11,474 Occupancy and equipment, net ​ 464 ​ ​ 991 ​ ​ 1,284 Professional services ​ 18,201 ​ ​ 35,528 ​ ​ 35,953 Loss and loss adjustment expenses ​ 38,419 ​ ​ 68,940 ​ ​ 79,347 Other ​ 3,987 ​ ​ 10,796 ​ ​ 11,863 Total noninterest expense ​ 67,073 ​ ​ 127,918 ​ ​ 139,921 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from discontinued operations before income taxes ​ 2,103 ​ ​ 17,608 ​ ​ 5,764 Gain on disposal of discontinued operations ​ 36,811 ​ ​ — ​ ​ — Income tax expense ​ 518 ​ ​ 3,618 ​ ​ 823 Income from discontinued operations, net of income taxes $ 38,396 ​ $ 13,990 ​ $ 4,941 ​ ​ 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 during 2020 from the equity securities held at December 31, 2019, measured using Level 1 inputs on a recurring basis. NLC recognized net gains of $1.9 million during 2019 due to changes in the fair value of equity securities still held at the balance sheet date. ​ Reinsurance Activity ​ Net insurance premiums earned, losses and LAE, and policy acquisition and other underwriting expenses are reported net of the amounts related to reinsurance ceded to other companies. Amounts recoverable from reinsurers related to the portions of the liability for losses and LAE and unearned insurance premiums ceded to them are included in other assets within the consolidated balance sheets. Reinsurance assumed from other companies, including assumed premiums written and earned, and losses and LAE, is accounted for in the same manner as direct insurance written. ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 ​ 2018 ​ Written Earned Written Earned Written Earned Premiums from direct business ​ ​ $ 63,811 ​ $ 61,384 ​ $ 125,157 ​ $ 126,434 ​ $ 129,611 ​ $ 133,112 Reinsurance assumed ​ ​ 6,396 ​ 6,452 ​ 13,148 ​ 13,041 ​ 12,917 ​ 12,516 Reinsurance ceded ​ ​ (2,759) ​ (2,759) ​ (7,191) ​ (7,191) ​ (8,749) ​ (8,877) Net premiums ​ ​ $ 67,448 ​ $ 65,077 ​ $ 131,114 ​ $ 132,284 ​ $ 133,779 ​ $ 136,751 ​ ​ The effects of reinsurance on incurred losses and LAE are included within discontinued operations for all periods and are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Losses and LAE incurred ​ ​ $ 38,225 ​ $ 68,130 ​ $ 76,464 Reinsurance recoverables ​ ​ 194 ​ 810 ​ 2,883 Net loss and LAE incurred ​ ​ $ 38,419 ​ $ 68,940 ​ $ 79,347 ​ Costs of acquiring insurance primarily consist of commissions, premium taxes and underwriting expenses, and are deferred and amortized over the terms of the policies or reinsurance treaties to which they relate. Proceeds from reinsurance transactions that represent recovery of acquisition costs reduce applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. A premium deficiency and a corresponding charge to income is recognized if the sum of the expected loss and LAE, unamortized policy acquisition costs, and maintenance costs exceed related unearned insurance premiums and anticipated investment income. At December 31, 2019, there was no premium deficiency. ​ Policy acquisition expenses, primarily commissions, premium taxes and underwriting expenses related to the successful issuance of a new or renewal policy incurred by NLC are deferred and charged against income ratably over the terms of the related policies. A summary of the activity in deferred policy acquisition costs included within discontinued operations for all periods is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 ​ 2018 Balance, beginning of year ​ $ 15,672 ​ $ 16,633 ​ $ 16,988 Acquisition expenses capitalized ​ 17,642 ​ 32,245 ​ 34,328 Amortization charged to income ​ (16,967) ​ (33,206) ​ (34,683) Balance, end of year ​ $ 16,347 ​ $ 15,672 ​ $ 16,633 ​ Insurance Losses and Loss Adjustment Expenses ​ At December 31, 2019, our gross reserve for unpaid losses and LAE reflected in the consolidated balance sheet under the caption “Liabilities of discontinued operations” was $15.3 million, including estimated recoveries from reinsurance of $1.0 million. The liability for insurance losses and LAE represents estimates of the ultimate unpaid cost of all losses incurred, including losses for claims that have not yet been reported, less a reduction for reinsurance recoverables related to those liabilities. Separately for each insurance subsidiary and each line of business, our actuaries estimate the liability for unpaid losses and LAE by first estimating ultimate losses and LAE amounts for each year, prior to recognizing the impact of reinsurance. The amount of liabilities for reported claims was based primarily on a claim-by-claim evaluation of coverage, liability, injury severity or scope of property damage, and any other information considered relevant to estimating exposure presented by the claim. ​ The methods that our actuaries utilized to estimate ultimate loss and LAE amounts were the paid and reported loss development method and the paid and reported Bornhuetter-Ferguson method. Significant periods of time can elapse between the occurrence of an insured loss, the reporting of the loss to the insurer and the insurer’s payment of that loss. NLC’s liabilities for unpaid losses represent the best estimate at a given point in time of what it expects to pay claimants, based on facts, circumstances and historical trends then known. Estimating the liability for unpaid losses and LAE is inherently judgmental and is influenced by factors that are subject to significant variation. Liabilities for LAE are intended to cover the ultimate cost of settling claims, including investigation and defense of lawsuits resulting from such claims.

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2020
Acquisition
Acquisition	4. Acquisition ​ On August 1, 2018, in an effort to expand its Houston-area banking operations, the Company acquired privately-held The Bank of River Oaks (“BORO”) in an all-cash transaction (the “BORO Acquisition”). Pursuant to the terms of the definitive agreement, the Company paid cash in the aggregate amount of $85 million to the shareholders and option holders of BORO. The operations of BORO are included in the Bank’s operating results beginning August 1, 2018. BORO’s results of operations prior to the acquisition date are not included in the Company’s consolidated operating results. ​ The BORO Acquisition was accounted for using the acquisition method of accounting, and accordingly, purchased assets, including identifiable intangible assets, and assumed liabilities were recorded at their respective acquisition date fair values. The resulting fair values of the identifiable assets acquired and liabilities assumed from BORO at August 1, 2018 are summarized in the following table (in thousands). ​ ​ ​ ​ ​ ​ Cash and due from banks $ 21,756 ​ Securities ​ 60,477 ​ Loans held for investment ​ 326,618 ​ Other assets ​ 25,912 ​ Total identifiable assets acquired ​ 434,763 ​ ​ ​ ​ ​ ​ Deposits ​ 376,393 ​ Short-term borrowings ​ 10,000 ​ Other liabilities ​ 2,996 ​ Total liabilities assumed ​ 389,389 ​ ​ ​ ​ ​ Net identifiable assets acquired ​ ​ 45,374 ​ Goodwill resulting from the acquisition ​ 39,627 ​ Net assets acquired ​ $ 85,001 ​ ​ ​ The goodwill of $39.6 million resulting from the BORO Acquisition represents the inherent long-term value expected from the business opportunities created from combining BORO with the Company. The Company used significant estimates and assumptions to value the identifiable assets acquired and liabilities assumed. The amount of goodwill recorded in connection with the Company’s acquisition of BORO is not deductible for tax purposes. ​ Included within the fair value of other assets in the table above are identifiable core deposits intangible assets recorded in connection with the BORO Acquisition of $10.0 million which is being amortized on an accelerated basis over an estimated useful life of six years . The fair value of the core deposit intangible assets was estimated using the net cost savings method, a variation of the income approach. This involved the use of the following significant assumptions: cost of deposits, customer attrition rate, and discount rate. ​ During 2018, pre-tax transaction- and integration-related expenses of $8.2 million associated with the BORO Acquisition are included in noninterest expense within the consolidated statement of operations. Such expenses were for professional services and other incremental employee costs associated with the integration of BORO’s operations.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Measurements
Fair Value Measurements	5. Fair Value Measurements ​ Fair Value Measurements and Disclosures ​ The Company determines fair values in compliance with The Fair Value Measurements and Disclosures Topic of the ASC (the “Fair Value Topic”). The Fair Value Topic defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. The Fair Value Topic defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Fair Value Topic assumes that transactions upon which fair value measurements are based occur in the principal market for the asset or liability being measured. Further, fair value measurements made under the Fair Value Topic exclude transaction costs and are not the result of forced transactions. ​ The Fair Value Topic includes a fair value hierarchy that classifies fair value measurements based upon the inputs used in valuing the assets or liabilities that are the subject of fair value measurements. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs, as indicated below. ​ ● Level 1 Inputs : Unadjusted quoted prices in active markets for identical assets or liabilities that the Company can access at the measurement date. ● Level 2 Inputs : Observable inputs other than Level 1 prices. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, yield curves, prepayment speeds, default rates, credit risks and loss severities), and inputs that are derived from or corroborated by market data, among others. ● Level 3 Inputs : Unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Level 3 inputs include pricing models and discounted cash flow techniques, among others . ​ Fair Value Option ​ The Company has elected to measure substantially all of PrimeLending’s mortgage loans held for sale and the retained MSR asset at fair value, under the provisions of the Fair Value Option. The Company elected to apply the provisions of the Fair Value Option to these items so that it would have the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. At December 31, 2020 and 2019, the aggregate fair value of PrimeLending’s mortgage loans held for sale accounted for under the Fair Value Option was $2.52 billion and $1.94 billion, respectively, and the unpaid principal balance of those loans was $2.41 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, as further described below. Those inputs include quotes from mortgage loan investors and derivatives dealers and data from independent pricing services. The fair value of loans held for sale is determined using an exit price method. ​ Trading Securities ​ Available For Sale Securities ​ Equity Securities ​ Loans Held for Sale ​ Derivatives ​ MSR Asset — 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 12 to the consolidated financial statements. The increase in the weighted average discount rate used to value the MSR asset at December 31, 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. ​ Securities Sold, Not Yet Purchased ​ The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total December 31, 2020 ​ Inputs ​ Inputs ​ Inputs ​ Fair Value Trading securities ​ $ 45,390 ​ $ 648,865 ​ $ — ​ $ 694,255 ​ Available for sale securities ​ ​ — ​ ​ 1,462,205 ​ ​ — ​ ​ 1,462,205 ​ Equity securities ​ ​ 140 ​ ​ — ​ ​ — ​ ​ 140 ​ Loans held for sale ​ ​ — ​ ​ 2,449,588 ​ ​ 71,816 ​ ​ 2,521,404 ​ Derivative assets ​ ​ — ​ ​ 126,898 ​ ​ — ​ ​ 126,898 ​ MSR asset ​ ​ — ​ ​ — ​ ​ 143,742 ​ ​ 143,742 ​ Securities sold, not yet purchased ​ ​ 54,494 ​ ​ 25,295 ​ ​ — ​ ​ 79,789 ​ Derivative liabilities ​ ​ — ​ ​ 74,598 ​ ​ — ​ ​ 74,598 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 table includes a rollforward for those financial instruments measured at fair value using Level 3 inputs (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Gains or Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Realized or Unrealized) ​ ​ ​ ​ Balance at ​ ​ ​ ​ Included in Other ​ ​ ​ Beginning of ​ Purchases/ ​ Sales/ ​ Transfers into ​ Included in ​ Comprehensive ​ Balance at ​ ​ Year ​ Additions ​ Reductions ​ Level 3 ​ Net Income ​ Income (Loss) ​ End of Year Year ended December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 67,195 ​ $ 61,410 ​ $ (57,682) ​ $ 10,323 ​ $ (9,430) ​ $ — ​ $ 71,816 ​ MSR asset ​ ​ 55,504 ​ ​ 162,914 ​ ​ (36,750) ​ ​ — ​ ​ (37,926) ​ ​ — ​ ​ 143,742 ​ Total ​ $ 122,699 ​ $ 224,324 ​ $ (94,432) ​ $ 10,323 ​ $ (47,356) ​ $ — ​ $ 215,558 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 50,464 ​ $ 60,475 ​ $ (34,849) ​ $ 1,136 ​ $ (10,031) ​ $ — ​ $ 67,195 ​ MSR asset ​ ​ 66,102 ​ ​ 13,755 ​ ​ — ​ ​ — ​ ​ (24,353) ​ ​ — ​ ​ 55,504 ​ Total ​ $ 116,566 ​ $ 74,230 ​ $ (34,849) ​ $ 1,136 ​ $ (34,384) ​ $ — ​ $ 122,699 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 36,972 ​ $ 61,573 ​ $ (41,801) ​ $ — ​ $ (6,280) ​ $ — ​ $ 50,464 ​ MSR asset ​ ​ 54,714 ​ ​ 25,028 ​ ​ (9,303) ​ ​ — ​ ​ (4,337) ​ ​ — ​ ​ 66,102 ​ Total ​ $ 91,686 ​ $ 86,601 ​ $ (51,104) ​ $ — ​ $ (10,617) ​ $ — ​ $ 116,566 ​ ​ All net realized and unrealized gains (losses) in the table above are reflected in the accompanying consolidated financial statements. The unrealized gains (losses) relate to financial instruments still held at December 31, 2020. ​ For Level 3 financial instruments measured at fair value on a recurring basis at December 31, 2020 and 2019, the significant unobservable inputs used in the fair value measurements were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Range (Weighted-Average) ​ ​ ​ ​ ​ ​ December 31, Financial instrument Valuation Technique Unobservable Inputs 2020 ​ 2019 Loans ​ Market comparable ​ Projected price ​ 91 - 94 % ( 94 %) ​ 92 - 96 % ( 95 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MSR asset ​ Discounted cash flows ​ Constant prepayment rate ​ ​ ​ ​ 12.15 % ​ ​ ​ ​ ​ 13.16 % ​ ​ ​ ​ ​ Discount rate ​ ​ ​ ​ 14.60 % ​ ​ ​ ​ ​ 11.14 % ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Year Ended December 31, 2019 ​ Year Ended December 31, 2018 ​ ​ Other Total ​ Other Total ​ Other Total ​ ​ Net ​ Noninterest ​ Changes in ​ Net ​ Noninterest ​ Changes in ​ Net ​ Noninterest ​ Changes in ​ ​ Gains (Losses) ​ Income ​ Fair Value ​ Gains (Losses) ​ Income ​ Fair Value ​ Gains (Losses) ​ Income ​ Fair Value Loans held for sale ​ $ 52,296 ​ $ — ​ $ 52,296 ​ $ 12,775 ​ $ — ​ $ 12,775 ​ $ (8,063) ​ $ — ​ $ (8,063) MSR asset ​ (37,926) ​ — ​ (37,926) ​ (24,353) ​ — ​ (24,353) ​ (4,337) ​ — ​ (4,337) ​ ​ The Company determines the fair value of OREO on a non-recurring basis. In particular, the fair value of properties are determined at their respective acquisition date fair values. In addition, facts and circumstances may dictate a fair value measurement when there is evidence of impairment. The Company determines fair value primarily using independent appraisals of OREO properties. The resulting fair value measurements are classified as Level 2 inputs. At December 31, 2020 and 2019, the estimated fair value of OREO was $21.3 million and $18.2 million, respectively, and the underlying fair value measurements utilized Level 2 inputs. The amounts are included in other assets within the consolidated balance sheets. During the reported periods, all fair value measurements for OREO subsequent to initial recognition utilized Level 2 inputs. The Company recorded total losses of $4.4 million, $1.4 million and $2.8 million during 2020, 2019 and 2018, respectively, which represent a change in fair value subsequent to initial recognition of the asset. ​ The Fair Value of Financial Instruments Subsection of the ASC requires disclosure of the fair value of financial assets and liabilities, including the financial assets and liabilities previously discussed. The methods for determining estimated fair value for financial assets and liabilities measured at fair value on a recurring or non-recurring basis are discussed above. For other financial assets and liabilities, the Company utilizes quoted market prices, if available, to estimate the fair value of financial instruments. Because no quoted market prices exist for a significant portion of the Company’s financial instruments, the fair value of such instruments has been derived based on management’s assumptions with respect to future economic conditions, the amount and timing of future cash flows, and estimated discount rates. Different assumptions could significantly affect these estimates. Accordingly, the estimates provided herein do not necessarily indicate amounts which could be realized in a current transaction. Further, as it is management’s intent to hold a significant portion of its financial instruments to maturity, it is not probable that the fair values shown below will be realized in a current transaction. ​ Because of the wide range of permissible valuation techniques and the numerous estimates which must be made, it may be difficult to make reasonable comparisons of the Company’s fair value information to that of other financial institutions. The aggregate estimated fair value amount should in no way be construed as representative of the underlying value of Hilltop and its subsidiaries. The following methods and assumptions are typically used in estimating the fair value disclosures for financial instruments: ​ Cash and Cash Equivalents ​ Assets Segregated for Regulatory Purposes ​ Securities Purchased Under Agreements to Resell ​ Held to Maturity Securities ​ Loans Held for Sale ​ Loans Held for Investment ​ Broker-Dealer and Clearing Organization Receivables and Payables ​ Deposits offered for deposits of similar remaining maturities. The carrying amount for variable-rate certificates of deposit approximates their fair values. ​ Short-Term Borrowings ​ Debt ​ Other Assets and Liabilities ​ The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ Carrying Level 1 Level 2 Level 3 ​ ​ December 31, 2020 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,062,946 ​ $ 1,062,946 ​ $ — ​ $ — ​ $ 1,062,946 ​ Assets segregated for regulatory purposes ​ ​ 290,357 ​ ​ 290,357 ​ ​ — ​ ​ — ​ ​ 290,357 ​ Securities purchased under agreements to resell ​ ​ 80,319 ​ ​ — ​ ​ 80,319 ​ ​ — ​ ​ 80,319 ​ Held to maturity securities ​ ​ 311,944 ​ ​ — ​ ​ 326,671 ​ ​ — ​ ​ 326,671 ​ Loans held for sale ​ ​ 266,982 ​ ​ — ​ ​ 266,982 ​ ​ — ​ ​ 266,982 ​ Loans held for investment, net ​ ​ 7,544,097 ​ ​ — ​ ​ 437,007 ​ ​ 7,351,411 ​ ​ 7,788,418 ​ Broker-dealer and clearing organization receivables ​ 1,404,727 ​ — ​ 1,404,727 ​ — ​ 1,404,727 ​ Other assets ​ 74,881 ​ — ​ 73,111 ​ 1,770 ​ 74,881 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 11,242,319 ​ — ​ 11,256,629 ​ — ​ 11,256,629 ​ Broker-dealer and clearing organization payables ​ 1,368,373 ​ — ​ 1,368,373 ​ — ​ 1,368,373 ​ Short-term borrowings ​ 695,798 ​ — ​ 695,798 ​ — ​ 695,798 ​ Debt ​ 448,999 ​ — ​ 448,999 ​ — ​ 448,999 ​ Other liabilities ​ 6,133 ​ — ​ 6,133 ​ — ​ 6,133 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $63.6 million and $36.6 million at December 31, 2020 and 2019, respectively, which are included within other assets in the consolidated balance sheets. Of the $63.6 million of such equity investments held at December 31, 2020, $22.8 million do not have readily determinable fair values and each is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ​ The following table presents the adjustments to the carrying value of these investments (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2020 2019 Balance, beginning of year ​ $ 19,771 $ 20,376 Additional investments ​ ​ ​ 500 ​ ​ — Upward adjustments ​ ​ ​ 4,188 ​ ​ 403 Impairments and downward adjustments ​ ​ ​ (1,615) ​ ​ (1,008) Dispositions ​ ​ — ​ — Balance, end of year ​ ​ $ 22,844 ​ $ 19,771 ​

Securities

Securities	12 Months Ended
	Dec. 31, 2020
Securities
Securities	6. Securities ​ The fair value of trading securities are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2020 2019 U.S. Treasury securities $ 40,491 $ — U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ ​ 40 ​ ​ 24,680 ​ ​ Residential mortgage-backed securities ​ 336,081 ​ 331,601 ​ ​ Commercial mortgage-backed securities ​ 876 ​ 2,145 ​ ​ Collateralized mortgage obligations ​ ​ 69,172 ​ ​ 191,154 ​ ​ Corporate debt securities ​ ​ 62,481 ​ ​ 36,973 ​ ​ States and political subdivisions ​ ​ 171,573 ​ ​ 93,117 ​ ​ Unit investment trusts ​ ​ — ​ ​ 3,468 ​ ​ Private-label securitized product ​ ​ 8,571 ​ ​ 2,992 ​ ​ Other ​ ​ 4,970 ​ ​ 3,446 ​ ​ Totals ​ $ 694,255 ​ $ 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 obligation may exceed the amount recognized in the financial statements. These securities, which are carried at fair value and reported as securities sold, not yet purchased in the consolidated balance sheets, had a value of $79.8 million and $43.8 million at December 31, 2020 and 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 ​ ​ ​ December 31, 2020 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 82,036 ​ $ 1,095 ​ $ (325) ​ $ 82,806 ​ Residential mortgage-backed securities ​ 624,863 ​ 17,194 ​ (446) ​ 641,611 ​ Commercial mortgage-backed securities ​ ​ 124,929 ​ 768 ​ (1,159) ​ 124,538 ​ Collateralized mortgage obligations ​ 559,362 ​ 6,916 ​ (370) ​ 565,908 ​ States and political subdivisions ​ 44,729 ​ 2,613 ​ — ​ 47,342 ​ Totals ​ $ 1,435,919 ​ $ 28,586 ​ $ (2,300) ​ $ 1,462,205 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ December 31, 2020 Cost Gains Losses Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 13,547 ​ $ 708 ​ $ — ​ $ 14,255 Commercial mortgage-backed securities ​ ​ 152,820 ​ 9,205 ​ — ​ 162,025 Collateralized mortgage obligations ​ 74,932 ​ 2,036 ​ — ​ 76,968 States and political subdivisions ​ 70,645 ​ 2,778 ​ — ​ 73,423 Totals ​ $ 311,944 ​ $ 14,727 ​ $ — ​ $ 326,671 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 December 31, 2020 and 2019 from equity securities with fair values of $0.1 million and $0.2 million at December 31, 2020 and 2019, respectively. The Company recognized nominal net gains and losses during 2020 and 2019 due to changes in the fair value of equity securities still held at the balance sheet date. During 2020 and 2019, net gains and losses recognized from equity securities sold were nominal. ​ Information regarding available for sale, held to maturity and equity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 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 8 ​ $ 60,298 ​ $ 325 2 ​ $ 24,937 ​ $ 64 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 8 ​ ​ 60,298 ​ ​ 325 2 ​ 24,937 ​ 64 ​ Residential mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 15 ​ 86,287 ​ 429 37 ​ 36,187 ​ 87 ​ Unrealized loss for twelve months or longer — ​ — ​ — 2 ​ 13,683 ​ 58 ​ ​ 15 ​ ​ 86,287 ​ ​ 429 39 ​ 49,870 ​ 145 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 10 ​ 105,386 ​ 1,176 1 ​ 9,967 ​ 2 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 10 ​ ​ 105,386 ​ ​ 1,176 1 ​ 9,967 ​ 2 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 10 ​ 101,990 ​ 324 15 ​ 94,545 ​ 446 ​ Unrealized loss for twelve months or longer 5 ​ 13,611 ​ 46 13 ​ 46,217 ​ 369 ​ ​ 15 ​ ​ 115,601 ​ ​ 370 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 43 ​ 353,961 ​ 2,254 55 ​ 165,636 ​ 599 ​ Unrealized loss for twelve months or longer 5 ​ 13,611 ​ 46 16 ​ 60,387 ​ 427 ​ ​ 48 ​ $ 367,572 ​ $ 2,300 71 ​ $ 226,023 ​ $ 1,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Number of ​ ​ Unrealized Number of ​ ​ Unrealized ​ ​ Securities ​ Fair Value ​ Losses ​ Securities ​ Fair Value ​ Losses Held to Maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ $ — ​ $ — 2 ​ $ 9,665 ​ $ 35 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 2 ​ 9,665 ​ 35 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 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 2 ​ 578 ​ — 38 ​ 15,996 ​ 124 ​ Unrealized loss for twelve months or longer — ​ — ​ — 4 ​ 1,099 ​ 31 ​ ​ 2 ​ 578 ​ — 42 ​ 17,095 ​ 155 ​ Total held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 2 ​ 578 ​ — 52 ​ 94,175 ​ 1,102 ​ Unrealized loss for twelve months or longer — ​ — ​ — 12 ​ 60,659 ​ 648 ​ ​ 2 ​ $ 578 ​ $ — 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 December 31, 2020 are shown by contractual maturity below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ ​ Amortized ​ ​ Amortized ​ ​ ​ ​ Cost ​ Fair Value Cost ​ Fair Value Due in one year or less ​ $ 4,999 ​ $ 5,072 ​ $ 645 ​ $ 646 ​ Due after one year through five years ​ 61,182 ​ 62,636 ​ 1,225 ​ 1,273 ​ Due after five years through ten years ​ 17,537 ​ 18,179 ​ 8,205 ​ 8,525 ​ Due after ten years ​ 43,047 ​ 44,261 ​ 60,570 ​ 62,979 ​ ​ ​ 126,765 ​ 130,148 ​ 70,645 ​ 73,423 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ 624,863 ​ 641,611 ​ 13,547 ​ 14,255 ​ Collateralized mortgage obligations ​ 559,362 ​ 565,908 ​ 74,932 ​ 76,968 ​ Commercial mortgage-backed securities ​ 124,929 ​ 124,538 ​ 152,820 ​ 162,025 ​ ​ ​ $ 1,435,919 ​ $ 1,462,205 ​ $ 311,944 ​ $ 326,671 ​ ​ During 2020, 2019 and 2018, the Company recognized net gains from its trading portfolio of $122.0 million, $20.5 million and $6.2 million, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $77.1 million, $132.7 million and $41.9 million during 2020, 2019 and 2018, respectively. During 2020 and 2019, the Company had other realized gains on securities of $0.2 million and other realized losses on securities of $2.5 million, respectively, while other net realized gains on securities during 2018 were nominal. All such net gains and losses are recorded as a component of other noninterest income within the consolidated statements of operations. ​ Securities with a carrying amount of $712.3 million and $576.0 million (with a fair value of $733.8 million and $583.6 million, respectively) at December 31, 2020 and 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 Company’s available for sale and held to maturity securities portfolios at December 31, 2020 and 2019. ​ Mortgage-backed securities and collateralized mortgage obligations consist principally of GNMA, Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”) pass-through and participation certificates. GNMA securities are guaranteed by the full faith and credit of the United States, while FNMA and FHLMC securities are fully guaranteed by those respective United States government-sponsored agencies, and conditionally guaranteed by the full faith and credit of the United States.

Loans Held for Investment

Loans Held for Investment	12 Months Ended
	Dec. 31, 2020
Loans Held for Investment
Loans Held for Investment	7. Loans Held for Investment ​ The Bank originates loans to customers primarily in Texas. Although the Bank has diversified loan and leasing portfolios and, generally, holds collateral against amounts advanced to customers, its debtors’ ability to honor their contracts is substantially dependent upon the general economic conditions of the region and of the industries in which its debtors operate, which consist primarily of agribusiness, construction, energy, real estate and wholesale/retail trade. The Hilltop Broker-Dealers make loans to customers and correspondents through transactions originated by both employees and independent retail representatives throughout the United States. The Hilltop Broker-Dealers control risk by requiring customers to maintain collateral in compliance with various regulatory and internal guidelines, which may vary based upon market conditions. Securities owned by customers and held as collateral for loans are not included in the consolidated financial statements. ​ Loans held for investment summarized by portfolio segment are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 2019 ​ Commercial real estate ​ $ 3,133,903 ​ $ 3,000,523 ​ Commercial and industrial (1) ​ 2,627,774 ​ ​ 2,025,720 ​ Construction and land development ​ 828,852 ​ ​ 940,564 ​ 1-4 family residential ​ ​ 629,938 ​ ​ 791,020 ​ Consumer ​ ​ 35,667 ​ ​ 47,046 ​ Broker-dealer (2) ​ ​ 437,007 ​ ​ 576,527 ​ ​ ​ 7,693,141 ​ 7,381,400 ​ Allowance for credit losses ​ (149,044) ​ ​ (61,136) ​ Total loans held for investment, net of allowance ​ $ 7,544,097 ​ $ 7,320,264 ​ (1) Included loans totaling $486.7 million at December 31, 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 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual Loans ​ Interest Income ​ ​ December 31, 2020 ​ ​ ​ ​ Recognized (1) ​ ​ With ​ With No ​ ​ ​ ​ December 31, ​ Year Ended ​ Allowance Allowance Total ​ 2019 ​ December 31, 2020 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 1,213 ​ $ 445 ​ $ 1,658 ​ $ 3,813 ​ $ 1,364 Owner occupied ​ 3,473 ​ ​ 6,002 ​ ​ 9,475 ​ ​ 3,495 ​ ​ 295 Commercial and industrial ​ ​ 10,821 ​ ​ 23,228 ​ ​ 34,049 ​ ​ 15,262 ​ ​ 2,362 Construction and land development ​ 102 ​ ​ 405 ​ ​ 507 ​ ​ 1,316 ​ ​ 110 1-4 family residential ​ 4,726 ​ ​ 16,651 ​ ​ 21,377 ​ ​ 7,382 ​ ​ 1,568 Consumer ​ 28 ​ ​ — ​ ​ 28 ​ ​ 26 ​ ​ 122 Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 20,363 ​ $ 46,731 ​ $ 67,094 ​ $ 31,294 ​ $ 5,821 (1) ​ ​ At December 31, 2020 and 2019, $10.9 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 December 31, 2020, by $35.8 million. A number of loans previously accounted for in accruing pools under ASC 310-30 were reclassified to non-accrual in the CECL transition. The increase in commercial real estate loans in non-accrual status at December 31, 2020 of $3.8 million was primarily related to the addition of loans totaling $8.4 million, of which $6.8 million were previously accruing at December 31, 2019, partially offset by the resolution of loans totaling $4.5 million. Commercial real estate loans in non-accrual status carried a reserve of $1.1 million at December 31, 2020. The increase in commercial and industrial loans in non-accrual status since December 31, 2019 was primarily due to a small number of relationships that included loans totaling $18.9 million and a CECL transition gross-up adjustment of $4.3 million related to a single loan. Commercial and industrial loans in non-accrual status carried a reserve of $7.9 million at December 31, 2020. The increase in 1-4 family residential loans in non-accrual status at December 31, 2020, compared to December 31, 2019, was primarily related to the addition of $17.1 million of loans in non-accrual status, of which $15.0 million were previously accruing at December 31, 2019, partially offset by both the return to accruing classification and resolution of loans totaling $3.2 million. 1-4 family residential loans in non-accrual status carried a reserve of $0.7 million at December 31, 2020. ​ 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, including the related impairment for accounting purposes. On December 27, 2020, the Consolidated Appropriations Act 2021 was signed into law . ​ Information regarding TDRs granted during 2020 and 2019 that do not qualify for the CARES Act exemption is shown in the following table (dollars in thousands). There were no TDRs granted during 2018. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Year Ended December 31, 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 ​ ​ 3 ​ ​ 9,464 ​ ​ 4,116 ​ 4 ​ ​ 9,618 ​ ​ 8,566 Construction and land development ​ ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — 1-4 family residential ​ ​ 5 ​ ​ 438 ​ ​ 438 ​ — ​ ​ — ​ ​ — Consumer ​ ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — Broker-dealer ​ ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ ​ 8 $ 9,902 $ 4,554 4 $ 9,618 $ 8,566 ​ All of the loan modifications included in the table above involved payment term extensions. The Bank did not grant principal reductions on any restructured loans during 2020, 2019 or 2018. ​ At December 31, 2020 and 2019, the Bank had nominal unadvanced commitments to borrowers whose loans have been restructured in TDRs. There were no TDRs granted during the twelve months preceding December 31, 2020, 2019 or 2018 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 December 31, 2020 ​ 30-59 Days ​ 60-89 Days ​ 90 Days or More ​ Past Due Loans ​ Loans ​ Loans ​ 90 Days or More Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 1,919 ​ $ — ​ $ 199 ​ $ 2,118 ​ $ 1,786,193 ​ $ 1,788,311 ​ $ — ​ Owner occupied ​ 195 ​ ​ 522 ​ ​ 8,328 ​ ​ 9,045 ​ ​ 1,336,547 ​ ​ 1,345,592 ​ ​ — ​ Commercial and industrial ​ ​ 3,114 ​ ​ 407 ​ ​ 7,318 ​ ​ 10,839 ​ ​ 2,616,935 ​ ​ 2,627,774 ​ ​ 6 ​ Construction and land development ​ 19 ​ ​ — ​ ​ — ​ ​ 19 ​ ​ 828,833 ​ ​ 828,852 ​ ​ — ​ 1-4 family residential ​ 8,110 ​ ​ 3,040 ​ ​ 12,420 ​ ​ 23,570 ​ ​ 606,368 ​ ​ 629,938 ​ ​ — ​ Consumer ​ 172 ​ ​ 123 ​ ​ 26 ​ ​ 321 ​ ​ 35,346 ​ ​ 35,667 ​ ​ — ​ Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 437,007 ​ ​ 437,007 ​ ​ — ​ ​ ​ $ 13,529 ​ $ 4,092 ​ $ 28,291 ​ $ 45,912 ​ $ 7,647,229 ​ $ 7,693,141 ​ $ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $243.6 million and $102.7 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $245.5 million and $104.0 million, respectively) that were 90 days past due and accruing interest at December 31, 2020 and 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. ​ In response to the ongoing COVID-19 pandemic, the Company allowed modifications, such as payment deferrals for up to 90 days and temporary forbearance, to credit-worthy borrowers who are experiencing temporary hardship due to the effects of COVID-19. These short-term modifications generally meet the criterial of the CARES Act and, therefore, they are not reported as past due or placed on non-accrual status (provided the loans were not past due or on non-accrual status prior to the deferral). The Company elected to accrue and recognize interest income on these modifications during the payment deferral period. ​ Additionally, the Company granted temporary forbearance to borrowers of a federally backed mortgage loan experiencing financial hardship due, directly or indirectly, to the COVID-19 pandemic. The CARES Act, which among other things, established the ability for financial institutions to grant a forbearance for up to 180 days, which can be extended for an additional 180-day period upon the request of the borrower. During that time, no fees, penalties or interest beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the mortgage contract will accrue on the borrower’s account. As of December 31, 2020, PrimeLending had $198.8 million of loans subject to repurchase under a forbearance agreement. ​ 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 (v) 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 to 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 ​ ​ ​ ​ ​ ​ December 31, 2020 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ ​ Prior ​ Revolving ​ Total Commercial real estate: non-owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 21,135 ​ $ 22,913 ​ $ 3,171 ​ $ 2,735 ​ $ 12,896 ​ $ 15,263 ​ $ 1 ​ $ 78,114 Internal Grade 4-7 (Pass normal risk) ​ ​ 245,833 ​ ​ 138,836 ​ ​ 83,951 ​ ​ 88,119 ​ ​ 108,371 ​ ​ 64,200 ​ ​ 47,920 ​ ​ 777,230 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 227,440 ​ ​ 133,246 ​ ​ 122,022 ​ ​ 99,473 ​ ​ 108,536 ​ ​ 64,031 ​ ​ 488 ​ ​ 755,236 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 34,020 ​ ​ 16,139 ​ ​ 29,166 ​ ​ 29,810 ​ ​ 33,353 ​ ​ 33,467 ​ ​ 118 ​ ​ 176,073 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,658 ​ ​ — ​ ​ 1,658 Commercial real estate: owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 60,809 ​ $ 21,011 ​ $ 12,712 ​ $ 44,163 ​ $ 21,567 ​ $ 37,688 ​ $ 1 ​ $ 197,951 Internal Grade 4-7 (Pass normal risk) ​ ​ 164,939 ​ ​ 169,582 ​ ​ 131,821 ​ ​ 56,801 ​ ​ 53,811 ​ ​ 75,372 ​ ​ 39,868 ​ ​ 692,194 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 118,328 ​ ​ 80,375 ​ ​ 49,601 ​ ​ 23,588 ​ ​ 23,330 ​ ​ 30,249 ​ ​ 1,291 ​ ​ 326,762 Internal Grade 12 (Special mention) ​ ​ 365 ​ ​ — ​ ​ 3,691 ​ ​ — ​ ​ — ​ ​ 527 ​ ​ — ​ ​ 4,583 Internal Grade 13 (Substandard accrual) ​ ​ 8,372 ​ ​ 5,620 ​ ​ 69,617 ​ ​ 10,315 ​ ​ 8,663 ​ ​ 12,040 ​ ​ — ​ ​ 114,627 Internal Grade 14 (Substandard non-accrual) ​ ​ 506 ​ ​ 1,259 ​ ​ 441 ​ ​ 5,345 ​ ​ 1,045 ​ ​ 879 ​ ​ — ​ ​ 9,475 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 30,754 ​ $ 27,144 ​ $ 7,149 ​ $ 5,486 ​ $ 3,587 ​ $ 335 ​ $ 21,651 ​ $ 96,106 Internal Grade 4-7 (Pass normal risk) ​ ​ 179,394 ​ ​ 54,423 ​ ​ 53,908 ​ ​ 29,778 ​ ​ 24,179 ​ ​ 10,945 ​ ​ 395,320 ​ ​ 747,947 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 95,835 ​ ​ 62,411 ​ ​ 20,162 ​ ​ 13,459 ​ ​ 13,885 ​ ​ 2,144 ​ ​ 197,273 ​ ​ 405,169 Internal Grade 12 (Special mention) ​ ​ 757 ​ ​ 14 ​ ​ 3,723 ​ ​ — ​ ​ 152 ​ ​ — ​ ​ 2,093 ​ ​ 6,739 Internal Grade 13 (Substandard accrual) ​ ​ 9,863 ​ ​ 3,689 ​ ​ 13,788 ​ ​ 5,531 ​ ​ 5,759 ​ ​ 253 ​ ​ 19,360 ​ ​ 58,243 Internal Grade 14 (Substandard non-accrual) ​ ​ 25,107 ​ ​ 5,084 ​ ​ 2,021 ​ ​ 315 ​ ​ 16 ​ ​ 98 ​ ​ 1,408 ​ ​ 34,049 Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 15,764 ​ $ 2,710 ​ $ 4,176 ​ $ 264 ​ $ 4,129 ​ $ 331 ​ $ 624 ​ $ 27,998 Internal Grade 4-7 (Pass normal risk) ​ ​ 202,624 ​ ​ 103,864 ​ ​ 63,135 ​ ​ 3,210 ​ ​ 2,596 ​ ​ 3,142 ​ ​ 28,387 ​ ​ 406,958 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 194,432 ​ ​ 97,206 ​ ​ 47,102 ​ ​ 9,659 ​ ​ 3,552 ​ ​ 544 ​ ​ 7,951 ​ ​ 360,446 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 8,684 ​ ​ 29 ​ ​ — ​ ​ 5,385 ​ ​ — ​ ​ 65 ​ ​ — ​ ​ 14,163 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 405 ​ ​ — ​ ​ — ​ ​ — ​ ​ 102 ​ ​ — ​ ​ 507 Construction and land development - individuals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — FICO between 620 and 720 ​ ​ 557 ​ ​ — ​ ​ 1,253 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,810 FICO greater than 720 ​ ​ 13,207 ​ ​ — ​ ​ 2,539 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 15,746 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other (1) ​ ​ 1,224 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,224 1-4 family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 1,109 ​ $ 819 ​ $ 3,674 ​ $ 56 ​ $ 883 ​ $ 32,077 ​ $ 318 ​ $ 38,936 FICO between 620 and 720 ​ ​ 17,269 ​ ​ 18,461 ​ ​ 9,545 ​ ​ 8,714 ​ ​ 8,171 ​ ​ 41,625 ​ ​ 1,289 ​ ​ 105,074 FICO greater than 720 ​ ​ 125,094 ​ ​ 80,688 ​ ​ 65,975 ​ ​ 37,943 ​ ​ 29,171 ​ ​ 70,815 ​ ​ 5,313 ​ ​ 414,999 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 96 ​ ​ 714 ​ ​ 20,567 ​ ​ — ​ ​ 21,377 Other (1) ​ ​ 27,407 ​ ​ 10,085 ​ ​ 5,998 ​ ​ 1,899 ​ ​ 920 ​ ​ 2,529 ​ ​ 714 ​ ​ 49,552 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 955 ​ $ 1,235 ​ $ 106 ​ $ 128 ​ $ 43 ​ $ 22 ​ $ 334 ​ $ 2,823 FICO between 620 and 720 ​ ​ 5,194 ​ ​ 2,627 ​ ​ 478 ​ ​ 536 ​ ​ 118 ​ ​ 79 ​ ​ 2,157 ​ ​ 11,189 FICO greater than 720 ​ ​ 6,849 ​ ​ 1,674 ​ ​ 2,952 ​ ​ 292 ​ ​ 60 ​ ​ 34 ​ ​ 3,054 ​ ​ 14,915 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 27 ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 28 Other (1) ​ ​ 5,050 ​ ​ 1,141 ​ ​ 129 ​ ​ 43 ​ ​ 36 ​ ​ — ​ ​ 313 ​ ​ 6,712 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans with credit quality measures ​ $ 1,848,876 ​ $ 1,062,690 ​ $ 814,006 ​ $ 483,170 ​ $ 469,543 ​ $ 521,082 ​ $ 777,246 ​ $ 5,976,613 Commercial and industrial (mortgage warehouse lending) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 792,806 Commercial and industrial (Paycheck Protection Program loans) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 486,715 Broker-Dealer (margin loans and correspondent receivables) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 437,007 Total loans held for investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,693,141 (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

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2020
Allowance for Credit Losses
Allowance for Credit Losses	8. Allowance for Credit Losses ​ 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 is unrelated to credit loss and related to changes in market interest rates since purchase. None of the available for sale debt securities held were past due at December 31, 2020. In addition, as of December 31, 2020, the Company had not made a decision to sell any of its debt securities held, nor did the Company consider it more likely than not that it would be required to sell such securities before recovery of their amortized cost basis. The Company does not expect to have credit losses associated with the debt securities and no allowance was recognized on the debt securities portfolio at transition. ​ 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 December 31, 2020. While the Company believes it has an appropriate allowance for the existing loan portfolio at December 31, 2020, additional provision for losses on existing loans may be necessary in the future. Future changes in the allowance for credit losses are expected to be volatile given dependence upon, among other things, the portfolio composition and quality, as well as the impact of significant drivers, including prepayment assumptions and macroeconomic conditions and forecasts. In addition to the allowance for credit losses, the Company maintains a separate allowance for credit losses related to off-balance sheet credit exposures, including unfunded loan commitments, and this amount is included in other liabilities within the consolidated balance sheets. 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 December 31, 2020, the Company utilized a single macroeconomic baseline scenario published by a third party in December 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. ​ 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 2020, the significant build in the allowance included provision for credit losses on individually evaluated loans of $20.2 million, while the provision for credit losses on expected losses of collectively evaluated loans accounted for $76.1 million of the total provision primarily due to the identified changes in the Bank’s loan portfolio composition and credit quality and 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 change to the reserve due to the impact of COVID-19 reflects economic uncertainty which, along with the expectation of continued higher unemployment and lower GDP, has increased the probability of default and loss given default rates used in our estimate of the lifetime expected credit losses for our loan portfolio. ​ The change in the allowance for credit losses during 2020 was primarily attributable to the Bank and also reflected other factors including, but not limited to, loan growth, loan mix, and changes in risk rating grades, macroeconomic factor assumptions and qualitative factors. The change in the allowance during 2020 was also impacted by net charge-offs of $21.1 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 investments, distributed by portfolio segment, are shown below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on ​ ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ ​ Balance, Year Ended December 31, 2020 ​ Year ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ ​ End of Year Commercial real estate ​ $ 31,595 ​ $ 8,073 ​ $ 73,865 ​ $ (4,517) ​ $ 613 ​ $ 109,629 ​ Commercial and industrial ​ 17,964 ​ ​ 3,193 ​ ​ 22,870 ​ ​ (18,158) ​ ​ 1,834 ​ 27,703 ​ Construction and land development ​ 4,878 ​ ​ 577 ​ ​ 1,222 ​ ​ (2) ​ ​ 2 ​ 6,677 ​ 1-4 family residential ​ 6,386 ​ ​ (29) ​ ​ (1,717) ​ ​ (748) ​ ​ 54 ​ 3,946 ​ Consumer ​ ​ 265 ​ ​ 748 ​ ​ 86 ​ ​ (615) ​ ​ 392 ​ ​ 876 ​ Broker-dealer ​ ​ 48 ​ ​ — ​ ​ 165 ​ ​ — ​ ​ — ​ ​ 213 ​ Total ​ $ 61,136 ​ $ 12,562 ​ $ 96,491 ​ $ (24,040) ​ $ 2,895 ​ $ 149,044 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on ​ ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ ​ Balance, Year Ended December 31, 2019 ​ Year ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ ​ End of Year Commercial real estate ​ $ 27,100 ​ $ — ​ $ 5,649 ​ $ (1,160) ​ $ 6 ​ $ 31,595 ​ Commercial and industrial ​ 21,980 ​ ​ — ​ ​ (921) ​ ​ (5,924) ​ ​ 2,829 ​ 17,964 ​ Construction and land development ​ 6,061 ​ ​ — ​ ​ (1,183) ​ ​ — ​ ​ — ​ 4,878 ​ 1-4 family residential ​ 3,956 ​ ​ — ​ ​ 3,276 ​ ​ (907) ​ ​ 61 ​ 6,386 ​ Consumer ​ ​ 267 ​ ​ — ​ ​ 459 ​ ​ (498) ​ ​ 37 ​ ​ 265 ​ Broker-dealer ​ ​ 122 ​ ​ — ​ ​ (74) ​ ​ — ​ ​ — ​ ​ 48 ​ Total ​ $ 59,486 ​ $ — ​ $ 7,206 ​ $ (8,489) ​ $ 2,933 ​ $ 61,136 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on ​ ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ ​ Balance, Year Ended December 31, 2018 ​ Year ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ ​ End of Year Commercial real estate ​ $ 27,232 ​ $ — ​ $ 668 ​ $ (800) ​ $ — ​ $ 27,100 ​ Commercial and industrial ​ 23,698 ​ — ​ 6,750 ​ (12,741) ​ 4,273 ​ 21,980 ​ Construction and land development ​ 7,847 ​ — ​ (1,792) ​ — ​ 6 ​ 6,061 ​ 1-4 family residential ​ 4,245 ​ — ​ (292) ​ (143) ​ 146 ​ 3,956 ​ Consumer ​ ​ 311 ​ ​ — ​ ​ (15) ​ ​ (93) ​ ​ 64 ​ ​ 267 ​ Broker-dealer ​ ​ 353 ​ ​ — ​ ​ (231) ​ ​ — ​ ​ — ​ ​ 122 ​ Total ​ $ 63,686 ​ $ — ​ $ 5,088 ​ $ (13,777) ​ $ 4,489 ​ $ 59,486 ​ ​ ​ Unfunded Loan Commitments ​ The Bank uses a process similar to that used in estimating the allowance for credit losses on the funded portion to estimate the allowance for credit loss on unfunded loan commitments. 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2020 ​ 2019 2018 Balance, beginning of year ​ ​ $ 2,075 ​ $ 2,366 ​ $ 1,932 Transition adjustment CECL accounting standard ​ ​ ​ 3,837 ​ ​ — ​ ​ — Other noninterest expense ​ ​ ​ 2,476 ​ ​ (291) ​ ​ 434 Balance, end of year ​ ​ $ 8,388 ​ $ 2,075 ​ $ 2,366 ​ 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 2020, the increase in the reserve for unfunded commitments was primarily due to the macroeconomic uncertainties associated with the impact of the market disruption caused by COVID-19 conditions.

Cash and Due from Banks

Cash and Due from Banks	12 Months Ended
	Dec. 31, 2020
Cash and Due from Banks
Cash and Due from Banks	9. Cash and Due from Banks ​ Cash and due from banks consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Cash on hand ​ $ 45,207 ​ $ 39,590 Clearings and collection items ​ 82,396 ​ 129,055 Deposits at Federal Reserve Bank ​ 874,998 ​ 232,019 Deposits at Federal Home Loan Bank ​ 1,607 ​ 1,458 Deposits in FDIC-insured institutions ​ 58,352 ​ 31,504 ​ ​ $ 1,062,560 ​ $ 433,626 ​ ​ The amounts above include interest-bearing deposits of $878.0 million and $235.4 million at December 31, 2020 and 2019, respectively. Cash on hand and deposits at the Federal Reserve Bank satisfy regulatory reserve requirements at December 31, 2020 and December 31, 2019.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2020
Premises and Equipment
Premises and Equipment	10. Premises and Equipment ​ The components of premises and equipment are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Land and premises ​ $ 125,701 ​ $ 130,312 ​ Furniture and equipment ​ 257,810 ​ 265,602 ​ ​ ​ 383,511 ​ 395,914 ​ Less accumulated depreciation and amortization ​ (171,916) ​ (185,539) ​ ​ ​ $ 211,595 ​ $ 210,375 ​ ​ The amounts shown above include gross assets recorded under finance leases of $7.8 million, with accumulated amortization of $4.8 million and $4.2 million at December 31, 2020 and 2019, respectively. ​ Occupancy expense was reduced by rental income of $1.7 million, $2.7 million and $1.4 million during 2020, 2019 and 2018, respectively. Depreciation and amortization expense on premises and equipment, which includes amortization of finance leases, amounted to $27.9 million, $27.3 million and $30.8 million during 2020, 2019 and 2018, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	11. Goodwill and Other Intangible Assets ​ At December 31, 2020, the carrying amount of goodwill of $267.4 million was comprised of $39.6 million recorded in connection with the BORO Acquisition and $227.8 million recorded in connection with the completion of the merger with PCC (the “PlainsCapital Merger”). ​ Other intangible assets were $20.4 million and $26.7 million at December 31, 2020 and 2019, respectively. ​ The Company performed required annual impairment tests of its goodwill and other intangible assets having an indefinite useful life as of October 1 st for each of its reporting units. At October 1, 2020, the Company determined that the estimated fair value of each of its reporting units exceeded its carrying value. The Company estimated the fair values of its reporting units based on both a market and income approach using historical, normalized actual and forecasted results. Based on this evaluation, at December 31, 2020, the Company concluded that the goodwill and other identifiable intangible assets were fully realizable. ​ The Company’s evaluation includes multiple assumptions, including estimated discounted cash flows and other estimates that may change over time. If future discounted cash flows become less than those projected by the Company, future impairment charges may become necessary that could have a materially adverse impact on the Company’s results of operations and financial condition. As quoted market prices in active stock markets are relevant evidence of fair value, a significant decline in the Company’s common stock trading price may indicate an impairment of goodwill. ​ Additionally, given the potential impacts as a result of COVID-19, actual results may differ materially from the Company’s current estimates as the scope of COVID-19 evolves or if the duration of business disruptions is longer than currently anticipated. While certain valuation assumptions and judgments may change to account for pandemic-related circumstances, the Company does not anticipate significant changes in methodology used to determine the fair value of its goodwill, intangible assets and other long-lived assets. The Company will continue to monitor developments regarding the COVID-19 pandemic and measures implemented in response to the pandemic, market capitalization, overall economic conditions and any other triggering events or circumstances that may indicate an impairment in the future. ​ The carrying value of intangible assets subject to amortization was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Gross ​ ​ Net ​ ​ Useful Life ​ Intangible ​ Accumulated ​ Intangible December 31, 2020 ​ (Years) ​ Assets ​ Amortization ​ Assets Core deposits 4 - 12 ​ $ 48,930 ​ $ (40,997) ​ $ 7,933 ​ Trademarks and trade names ​ 20 ​ ​ 16,500 ​ (7,563) ​ 8,937 ​ Noncompete agreements ​ 4 ​ ​ 4,310 ​ (4,310) ​ — ​ Customer contracts and relationships 12 - 14 ​ 15,300 ​ (11,806) ​ 3,494 ​ ​ ​ ​ ​ ​ ​ $ 85,040 ​ $ (64,676) ​ $ 20,364 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Gross ​ ​ Net ​ ​ Useful Life ​ Intangible ​ Accumulated ​ Intangible December 31, 2019 ​ (Years) ​ Assets ​ Amortization ​ Assets Core deposits 4 - 12 ​ $ 48,930 ​ $ (36,576) ​ $ 12,354 ​ Trademarks and trade names ​ 20 ​ ​ 16,500 ​ (6,812) ​ 9,688 ​ Noncompete agreements ​ 4 ​ ​ 4,310 ​ (4,310) ​ — ​ Customer contracts and relationships 12 - 14 ​ 15,300 ​ (10,676) ​ 4,624 ​ ​ ​ ​ ​ ​ ​ $ 85,040 ​ $ (58,374) ​ $ 26,666 ​ ​ Amortization expense related to intangible assets during 2020, 2019 and 2018 was $6.3 million, $7.5 million and $8.0 million, respectively. ​ The estimated aggregate future amortization expense for intangible assets at December 31, 2020 is as follows (in thousands). ​ ​ ​ ​ 2021 $ 5,080 2022 3,967 2023 2,860 2024 1,826 2025 1,028 Thereafter 5,603 ​ $ 20,364 ​

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2020
Mortgage Servicing Rights
Mortgage Servicing Rights	12. 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 ​ 2018 Balance, beginning of year $ 55,504 ​ $ 66,102 ​ $ 54,714 Additions 162,914 ​ 13,755 ​ 25,028 Sales (36,750) ​ — ​ (9,303) Changes in fair value: ​ ​ ​ ​ ​ ​ ​ ​ Due to changes in model inputs or assumptions (1) (27,261) ​ (16,054) ​ 159 Due to customer payoffs (10,665) ​ (8,299) ​ (4,496) Balance, end of year $ 143,742 ​ $ 55,504 ​ $ 66,102 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Mortgage loans serviced for others (2) $ 14,643,623 ​ $ 4,948,441 ​ ​ ​ MSR asset as a percentage of serviced mortgage loans 0.98 % 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Weighted average constant prepayment rate 12.15 % ​ 13.16 % Weighted average discount rate 14.60 % ​ 11.14 % Weighted average life (in years) 6.3 ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 2019 ​ Constant prepayment rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ $ (5,639) ​ $ (3,072) ​ Impact of 20% adverse change ​ (11,164) ​ (5,943) ​ Discount rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ (6,435) ​ (2,094) ​ Impact of 20% adverse change ​ (12,287) ​ (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 changes 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 $35.4 million, $25.3 million and $23.3 million during 2020, 2019 and 2018, respectively, were included in other noninterest income within the consolidated statements of operations.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2020
Deposits
Deposits	13. Deposits ​ Deposits are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 2019 ​ Noninterest-bearing demand ​ $ 3,612,384 ​ $ 2,769,556 ​ Interest-bearing: ​ ​ ​ ​ ​ ​ ​ Demand accounts ​ 2,399,341 ​ 1,881,614 ​ Brokered - demand ​ 282,426 ​ — ​ Money market ​ 2,716,878 ​ 2,641,116 ​ Brokered - money market ​ 124,243 ​ 5,000 ​ Savings ​ 276,327 ​ 199,076 ​ Time ​ 1,506,435 ​ 1,505,375 ​ Brokered - time ​ 324,285 ​ 30,477 ​ ​ ​ $ 11,242,319 ​ $ 9,032,214 ​ ​ At December 31, 2020, deposits include $1.1 billion of time deposit accounts that meet or exceed the FDIC insurance limit of $250,000. Scheduled maturities of interest-bearing time deposits at December 31, 2020 are as follows (in thousands). ​ ​ ​ ​ ​ ​ 2021 $ 1,600,039 ​ 2022 ​ 148,404 ​ 2023 ​ 49,026 ​ 2024 ​ 22,091 ​ 2025 and thereafter ​ 11,160 ​ ​ ​ $ 1,830,720 ​ ​

Short-term Borrowings

Short-term Borrowings	12 Months Ended
	Dec. 31, 2020
Short-term Borrowings
Short-term Borrowings	14. Short-term Borrowings ​ Short-term borrowings are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Federal funds purchased ​ $ 180,325 ​ $ 81,625 ​ Securities sold under agreements to repurchase ​ 237,856 ​ 612,125 ​ Federal Home Loan Bank ​ — ​ 600,000 ​ Short-term bank loans ​ ​ — ​ ​ 111,000 ​ Commercial paper ​ 277,617 ​ 19,260 ​ ​ ​ $ 695,798 ​ $ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2020 ​ 2019 2018 Average balance during the year ​ $ 509,577 ​ $ 605,858 ​ $ 701,622 ​ Average interest rate during the year ​ 0.89 % ​ 2.48 % 1.96 % Maximum month-end balance during the year ​ $ 714,507 ​ $ 693,750 ​ $ 849,568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ Average interest rate at end of year ​ ​ 0.25 % ​ 1.97 % ​ ​ ​ Securities underlying the agreements at end of year: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying value ​ $ 237,913 ​ $ 612,515 ​ ​ ​ ​ Estimated fair value ​ $ 262,554 ​ $ 661,023 ​ ​ ​ ​ ​ FHLB short-term borrowings mature over terms not exceeding 365 days and are collateralized by FHLB Dallas stock, nonspecified real estate loans and certain specific commercial real estate loans. At December 31, 2020, the Bank had available collateral of $4.4 billion, substantially all of which was blanket collateral. Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 ​ 2018 ​ Average balance during the year ​ $ 38,634 ​ $ 329,356 ​ $ 214,110 ​ Average interest rate during the year ​ ​ 1.63 % ​ 2.16 % ​ 2.09 % Maximum month-end balance during the year ​ $ 150,000 ​ $ 700,000 ​ $ 675,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ 2019 ​ ​ ​ ​ Average interest rate at end of year ​ ​ — % ​ 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 short-term bank loan borrowings at December 31, 2020 and 2019 was 0.00% and 2.52%, respectively. ​ During 2019, Hilltop Securities initiated two commercial paper programs in the ordinary course of its business of which the net proceeds (after deducting related issuance expenses) from the sale will be used for general corporate purposes, including working capital and the funding of a portion of its securities inventories. The commercial paper notes (“CP Notes”) may be issued with maturities of 14 days to 270 days from the date of issuance. The CP Notes are issued under two separate programs, Series 2019-1 CP Notes and Series 2019-2 CP Notes, in maximum aggregate amounts of $300 million and $200 million, respectively. The CP Notes are not redeemable prior to maturity or subject to voluntary prepayment and do not bear interest, but are sold at a discount to par. The CP Notes are secured by a pledge of collateral owned by Hilltop Securities. As of December 31, 2020, the weighted average maturity of the CP Notes was 146 days at a rate of 1.23%, with a weighted average remaining life of 70 days. At December 31, 2020, the amount outstanding under these secured arrangements was $277.6 million, which was collateralized by securities held for firm accounts valued at $296.3 million.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2020
Notes Payable
Notes Payable	15. Notes Payable ​ Notes payable consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Senior Notes due April 2025, net of discount of $1,063 and $1,232, respectively ​ $ 148,937 ​ $ 148,768 Subordinated Notes due May 2030, net of discount of $793 ​ ​ 49,207 ​ ​ — Subordinated Notes due May 2035, net of discount of $2,392 ​ ​ 147,608 ​ ​ — FHLB notes, including premium of $0 and $146 , respectively ​ — ​ 28,848 Ventures Management lines of credit ​ ​ 36,235 ​ ​ 78,653 ​ ​ $ 381,987 ​ $ 256,269 ​ Senior Notes ​ On April 9, 2015, Hilltop completed an offering of $150.0 million aggregate principal amount of its 5% senior notes due 2025 (“Senior Unregistered Notes”) in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Senior Unregistered Notes were offered within the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to persons outside of the United States under Regulation S under the Securities Act. The Senior Unregistered Notes were issued pursuant to an indenture, dated as of April 9, 2015, by and between Hilltop and U.S. Bank National Association, as trustee. The net proceeds from the offering, after deducting estimated fees and expenses and the initial purchasers’ discounts, were approximately $148 million. Hilltop used the net proceeds of the offering to redeem all of Hilltop’s outstanding Non-Cumulative Perpetual Preferred Stock, Series B at an aggregate liquidation value of $114.1 million, plus accrued but unpaid dividends of $0.4 million, and Hilltop utilized the remainder for general corporate purposes. Unamortized debt issuance costs presented as a reduction from the Senior Notes are discussed further in Note 1 to the consolidated financial statements. ​ In connection with the issuance of the Senior Unregistered Notes, on April 9, 2015, the Company entered into a registration rights agreement with the initial purchasers of the Senior Unregistered Notes. Under the terms of the registration rights agreement, the Company agreed to offer to exchange the Senior Unregistered Notes for notes registered under the Securities Act (the “Senior Registered Notes”). The terms of the Senior Registered Notes are substantially identical to the Senior Unregistered Notes for which they were exchanged (including principal amount, interest rate, maturity and redemption rights), except that the Senior Registered Notes generally are not subject to transfer restrictions. On May 22, 2015 and subject to the terms and conditions set forth in the Senior Registered Notes prospectus, the Company commenced an offer to exchange the Senior Unregistered Notes for Senior Registered Notes. Substantially all of the Senior Unregistered Notes were tendered in the exchange offer, and on June 22, 2015, the Company fulfilled its requirements under the registration rights agreement for the Senior Unregistered Notes by issuing Senior Registered Notes in exchange for the tendered Senior Unregistered Notes. The Senior Registered Notes and the Senior Unregistered Notes that remain outstanding are collectively referred to as the “Senior Notes.” ​ The Senior Notes bear interest at a rate of 5% per year, payable semi-annually in arrears in cash on April 15 and October 15 of each year. The Senior Notes will mature on April 15, 2025, unless Hilltop redeems the Senior Notes, in whole at any time or in part from time to time, on or after January 15, 2025 (three months prior to the maturity date of the Senior Notes) at its election at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. ​ The indenture contains covenants that limit the Company’s ability to, among other things and subject to certain significant exceptions: (i) dispose of or issue voting stock of certain of the Company’s bank subsidiaries or subsidiaries that own voting stock of the Company’s bank subsidiaries, (ii) incur or permit to exist any mortgage, pledge, encumbrance or lien or charge on the capital stock of certain of the Company’s bank subsidiaries or subsidiaries that own capital stock of the Company’s bank subsidiaries and (iii) sell all or substantially all of the Company’s assets or merge or consolidate with or into other companies. The indenture also provides for certain events of default, which, if any of them occurs, would permit or require the principal amount, premium, if any, and accrued and unpaid interest on the then outstanding Senior Notes to be declared immediately due and payable. ​ 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 ​ Federal Home Loan Bank notes ​ The FHLB notes, as well as other borrowings from the FHLB, are collateralized by FHLB stock, a blanket lien on commercial and real estate loans, as well as by the amount of securities that are in safekeeping at the FHLB. ​ Ventures Management Lines of Credit ​ At December 31, 2020, Ventures Management’s ABAs had combined available lines of credit totaling $170.0 million, $80.0 million of which was with a single unaffiliated bank and $90.0 million of which was with the Bank. At December 31, 2020, Ventures Management had outstanding borrowings of $47.5 million, $11.3 million of which was with the Bank with stated interest rates of the greater of a calculated index rate on mortgage notes or 3.13% to 3.75%. The weighted average interest rate of these lines of credit at December 31, 2020 was 3.27%. The Ventures Management lines of credit are collateralized by mortgage notes, and the loan agreements relating to the lines of credit contain various financial and other covenants which must be maintained until all indebtedness to the financial institution is repaid. ​ Scheduled Maturities ​ Scheduled maturities for notes payable outstanding at December 31, 2020 are as follows (in thousands). ​ ​ ​ ​ 2021 $ 36,235 2022 — 2023 — 2024 — 2025 150,000 Thereafter 200,000 ​ $ 386,235 ​

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases
Leases	16 . Leases ​ Hilltop and its subsidiaries lease space, primarily for corporate offices, branch facilities and automated teller machines, under both operating and finance leases. Certain of the Company’s leases have options to extend, with the longest extension option being options ​ Supplemental balance sheet information related to finance leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ ​ 2020 ​ ​ 2019 Finance leases: ​ ​ ​ ​ ​ ​ ​ Premises and equipment ​ ​ $ 7,780 ​ $ 7,780 Accumulated depreciation ​ ​ ​ (4,768) ​ ​ (4,178) Premises and equipment, net ​ ​ $ 3,012 ​ $ 3,602 ​ Operating lease rental cost and finance lease amortization of ROU assets is included within occupancy and equipment, net in the consolidated statements of operations. Finance lease interest expense is included within other interest expense in the consolidated statements of operations. The Company does not generally enter into leases which contain variable payments, other than due to the passage of time. The components of lease costs, including short-term lease costs, are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 Operating lease cost ​ ​ $ 41,903 ​ $ 44,331 Less operating lease and sublease income ​ ​ ​ (1,676) ​ ​ (2,657) Net operating lease cost ​ ​ $ 40,227 ​ $ 41,674 ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ ​ $ 590 ​ $ 590 Interest on lease liabilities ​ ​ ​ 561 ​ ​ 596 Total finance lease cost ​ ​ $ 1,151 ​ $ 1,186 ​ Supplemental cash flow information related to leases is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 31,850 ​ $ 37,527 ​ Operating cash flows from finance leases ​ ​ 561 ​ ​ 587 ​ Financing cash flows from finance leases ​ ​ 636 ​ ​ 603 ​ Right-of-use assets obtained in exchange for new lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 11,723 ​ $ 27,055 ​ Finance leases ​ ​ — ​ ​ — ​ ​ Information regarding the lease terms and discount rates of the Company’s leases is as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 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 ​ 5.5 ​ 4.67 % ​ 5.9 ​ 5.29 % Finance ​ 5.6 ​ 4.81 % ​ 6.5 ​ 4.79 % ​ Maturities of lease liabilities at December 31, 2020, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases 2021 $ 36,132 ​ $ 1,212 2022 ​ 28,189 ​ ​ 1,241 2023 ​ 22,645 ​ ​ 1,280 2024 ​ 15,395 ​ ​ 1,163 2025 ​ 11,177 ​ ​ 886 Thereafter ​ 29,636 ​ ​ 1,411 Total minimum lease payments ​ 143,174 ​ ​ 7,193 Less amount representing interest ​ (17,724) ​ ​ (2,334) Lease liabilities $ 125,450 ​ $ 4,859 ​ As of December 31, 2020, the Company had additional operating leases that have not yet commenced with aggregate future minimum lease payments of approximately $22.9 million. These leases are expected to commence between January 2021 and October 2021 with lease terms ranging from two

Junior Subordinated Debentures

Junior Subordinated Debentures and Trust Preferred Securities	12 Months Ended
	Dec. 31, 2020
Junior Subordinated Debentures and Trust Preferred Securities
Junior Subordinated Debentures and Trust Preferred Securities	17. Junior Subordinated Debentures and Trust Preferred Securities ​ PCC has four statutory Trusts, three of which were formed under the laws of the state of Connecticut and one of which, PCC Statutory Trust IV, was formed under the laws of the state of Delaware. The Trusts were created for the sole purpose of issuing and selling preferred securities and common securities, using the resulting proceeds to acquire junior subordinated debentures issued by PCC (the “Debentures”). Accordingly, the Debentures are the sole assets of the Trusts, and payments under the Debentures are the sole revenue of the Trusts. All of the common securities are owned by PCC; however, PCC is not the primary beneficiary of the Trusts. Accordingly, the Trusts are not included in the Company’s consolidated financial statements. ​ The Trusts have issued $65,000,000 of floating rate preferred securities and $2,012,000 of common securities and have invested the proceeds from the securities in floating rate Debentures of PCC. ​ Information regarding the PCC Debentures is shown in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ Investor Issue Date Amount PCC Statutory Trust I July 31, 2001 ​ $ 18,042 PCC Statutory Trust II March 26, 2003 ​ $ 18,042 PCC Statutory Trust III September 17, 2003 ​ $ 15,464 PCC Statutory Trust IV February 22, 2008 ​ $ 15,464 ​ The stated term of the Debentures is 30 years with interest payable quarterly. The rate on the Debentures, which resets quarterly, is 3-month LIBOR plus an average spread of 3.22%. The total average interest rate at December 31, 2020 was 3.45%. The term, rate and other features of the preferred securities are the same as the Debentures. PCC’s obligations under the Debentures and related documents, taken together, constitute a full and unconditional guarantee of the Trust’s obligations under the preferred securities.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes
Income Taxes	18. Income Taxes ​ The significant components of the income tax provision are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 97,338 ​ $ 58,562 ​ $ 18,977 State ​ ​ 19,150 ​ ​ 9,215 ​ ​ 2,241 ​ ​ 116,488 ​ ​ 67,777 ​ 21,218 Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 13,325 ​ $ (2,690) ​ $ 11,153 State ​ ​ 3,258 ​ ​ (1,373) ​ ​ 1,856 ​ ​ 16,583 ​ (4,063) ​ 13,009 ​ ​ $ 133,071 ​ $ 63,714 ​ $ 34,227 ​ The income tax provision differs from the amount that would be computed by applying the statutory Federal income tax rate to income before income taxes as a result of the following (in thousands). The applicable corporate federal income tax rates were 21% for all periods presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Computed tax at federal statutory rate ​ $ 118,629 ​ $ 59,392 ​ $ 32,572 ​ Tax effect of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nondeductible expenses ​ ​ 2,304 ​ 2,681 ​ ​ 1,373 ​ State income taxes ​ 17,702 ​ 6,195 ​ ​ 3,236 ​ Tax-exempt income, net ​ (1,706) ​ (1,727) ​ ​ (1,432) ​ Minority interest ​ (4,587) ​ (1,614) ​ ​ (900) ​ Other ​ ​ 729 ​ (1,213) ​ ​ (622) ​ ​ ​ $ 133,071 ​ $ 63,714 ​ $ 34,227 ​ ​ The components of the tax effects of temporary differences that give rise to the net deferred tax asset included in other assets within the consolidated balance sheets are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Net operating and built-in loss carryforward ​ $ 5,736 ​ $ 7,823 ​ Purchase accounting adjustment - loans ​ 11,814 ​ ​ 15,850 ​ Allowance for credit losses ​ 35,542 ​ ​ 14,796 ​ Compensation and benefits ​ 22,513 ​ ​ 17,723 ​ Legal and other reserves ​ 7,097 ​ ​ 1,272 ​ Foreclosed property ​ 1,913 ​ ​ 5,456 ​ Operating lease liabilities ​ 29,348 ​ ​ 29,125 ​ Other ​ ​ 9,717 ​ ​ 6,475 ​ ​ ​ 123,680 ​ 98,520 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Premises and equipment ​ 20,076 ​ ​ 10,079 ​ Intangible assets ​ 4,518 ​ ​ 6,098 ​ Derivatives ​ 17,688 ​ ​ 4,342 ​ Loan servicing ​ 34,868 ​ ​ 13,278 ​ Operating lease ROU assets ​ ​ 24,755 ​ ​ 26,498 ​ Other ​ 8,015 ​ ​ 5,251 ​ ​ ​ 109,920 ​ 65,546 ​ Net deferred tax asset ​ $ 13,760 ​ $ 32,974 ​ ​ The Company’s effective tax rate was 23.6%, 22.5% and 22.1% during 2020, 2019 and 2018, respectively. The increase in the effective tax rate during 2020 was primarily attributable to the percentage of income at subsidiaries with higher state effective tax rates, while the effective tax rates for 2019 and 2018 approximated statutory rates and included the effect of investments in tax-exempt instruments, offset by nondeductible expenses. ​ At December 31, 2020 and 2019, the Company had net operating loss carryforwards for Federal income tax purposes of $2.7 million and $12.2 million, respectively (or $0.6 million and $2.4 million, respectively, on a tax effected basis at applicable rates for respective tax years). The net operating loss carryforwards are subject to an annual Section 382 limitation on their usage. These net operating loss carryforwards expire starting in 2034. The Company expects to realize its current deferred tax asset for these net operating loss carryforwards through the implementation of certain tax planning strategies, core earnings, and reversal of timing differences. At December 31, 2020, the Company also had a recognized built-in loss (“RBIL”) carryover of $20.5 million from the ownership change resulting from the SWS Merger. These RBILs that were recognized during a five year recognition period before January 1, 2020 are subject to the annual Section 382 limitation rules similar to the Company’s net operating loss carryforwards. The RBILs are expected to be fully realized prior to any expiration. ​ Based on the Company’s evaluation of its deferred tax assets, management determined that no valuation allowance against its gross deferred tax assets was necessary at December 31, 2020 or 2019. ​ GAAP requires the measurement of uncertain tax positions. Uncertain tax positions are the difference between a tax position taken, or expected to be taken, in a tax return and the benefit recognized for accounting purposes. At December 31, 2020 and 2019, the total amount of gross unrecognized tax benefits was $3.8 million and $2.8 million, respectively, of which $3.0 million and $2.1 million, respectively, if recognized, would favorably impact the Company’s effective tax rate. ​ The aggregate changes in gross unrecognized tax benefits, which excludes interest and penalties, are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Balance, beginning of year ​ $ 2,808 ​ $ 3,056 ​ $ 1,574 ​ Increases related to tax positions taken during a prior year ​ 327 ​ ​ 317 ​ ​ 770 ​ Decreases related to tax positions taken during a prior year ​ — ​ ​ (423) ​ ​ — ​ Increases related to tax positions taken during the current year ​ ​ 1,017 ​ ​ 288 ​ ​ 712 ​ Decreases related to expiration of the statute of limitations ​ ​ (374) ​ ​ (430) ​ ​ — ​ Balance, end of year ​ $ 3,778 ​ $ 2,808 ​ $ 3,056 ​ ​ Specific positions that may be resolved include issues involving apportionment and tax credits. At December 31, 2020, the unrecognized tax benefit is a component of taxes receivable, which is included in other assets within the consolidated balance sheet. ​ The Company files income tax returns in U.S. federal and numerous state jurisdictions. The Company is subject to tax examinations in numerous jurisdictions in the United States until the applicable statute of limitations expires. The Company is no longer subject to U.S. federal tax examinations for tax years prior to 2017. The Company is open for various state tax examinations for tax years 2016 and later.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2020
Employee Benefits
Employee Benefits	19. Employee Benefits ​ Hilltop and its subsidiaries have benefit plans that provide for elective deferrals by employees under Section 401(k) of the Internal Revenue Code. Employee contributions are determined by the level of employee participation and related salary levels per Internal Revenue Service regulations. Hilltop and its subsidiaries match a portion of employee contributions based on the amount of eligible employees’ contributions and salaries. The amount charged to operating expense for these matching contributions totaled $17.7 million, $15.5 million and $14.8 million during 2020, 2019 and 2018, respectively. ​ 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. Participating employees may purchase shares of common stock at 90% of the fair market value on the last day of each quarterly offering period. The initial offering period commenced on January 1, 2021. ​ Effective upon the completion of the PlainsCapital Merger, the Company recorded a liability associated with separate retention agreements originally entered into between Hilltop and two executive officers. At December 31, 2020 and 2019, the recorded liability, including interest, was $2.6 million and related to a single executive officer. ​ The Bank purchased $15.0 million of flexible premium universal life insurance in 2001 to help finance the annual expense incurred in providing various employee benefits. At December 31, 2020 and 2019, the carrying value of the policies included in other assets was $26.8 million and $26.2 million, respectively. During each of 2020, 2019 and 2018, the Bank recorded income of $0.5 million, $1.0 million and $0.6 million, respectively, related to the policies that was reported in other noninterest income within the consolidated statement of operations. ​ Deferred Compensation Plan ​ As a result of the SWS Merger, the Company assumed a deferred compensation plan (the “SWS Plan”) that allows former SWS eligible officers and employees to defer a portion of their bonus compensation and commissions. The SWS Plan matched 15% of the deferrals made by participants up to a predetermined limit through matching contributions that vest ratably over four years. Pursuant to the terms of the SWS Plan, the trustee periodically purchased the former SWS common stock in the open market. As a result of the SWS Merger, the former SWS common shares were converted into Hilltop common stock based on the terms of the merger agreement. No further contributions can be made to this plan. ​ The assets of the SWS Plan are held in a rabbi trust and primarily include investments in company-owned life insurance (“COLI”) and Hilltop common stock. These assets are consolidated with those of the Company. Investments in COLI are carried at the cash surrender value of the insurance policies and recorded in other assets within the consolidated balance sheet at December 31, 2020 and 2019, respectively. Investments in Hilltop common stock, which are carried at cost, and the corresponding liability related to the deferred compensation plan are presented as components of stockholders’ equity as employee stock trust and deferred compensation employee stock trust, net, respectively, at December 31, 2020 and 2019, respectively. ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions
Related Party Transactions	20. Related Party Transactions ​ Jeremy B. Ford, a director and the President and Chief Executive Officer of Hilltop, is the beneficiary of a trust that owns a 49% limited partnership interest in Diamond A Financial, L.P., which owned 18.9% of the outstanding Hilltop common stock at December 31, 2020. ​ Jeremy B. Ford is the son of Gerald J. Ford. Corey G. Prestidge, Hilltop’s General Counsel and Secretary, is the son-in-law of Gerald J. Ford. Accordingly, Messrs. Jeremy Ford and Corey Prestidge are brothers-in-law. ​ In the ordinary course of business, the Bank has granted loans to certain directors, executive officers and their affiliates (collectively referred to as related parties) totaling $0.6 million and $5 thousand at December 31, 2020 and 2019, respectively. These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. For such loans during 2020, principal additions and payments were $0.6 million and $2 thousand, respectively. ​ At December 31, 2020 and 2019, the Bank held deposits of related parties of $154.1 million and $141.2 million, respectively. ​ 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 December 31, 2020. ​ The Bank purchased loans from a company for which a related party served as a director, president and chief executive officer. At December 31, 2020 and 2019, the outstanding balance of the purchased loans was $0.5 million and $0.7 million, respectively. The loans were purchased with recourse in the ordinary course of business and the related party had no direct financial interest in the transaction. ​ Hilltop Plaza Investment ​ On July 31, 2018, Hillcrest Land LLC purchased approximately 1.7 acres of land in the City of University Park, Texas for $38.5 million. Hillcrest Land LLC is owned equally between Hilltop Investments I, LLC, a wholly owned entity of Hilltop, and Diamond Ground, LLC, an affiliate of Mr. Gerald J. Ford. Each of Hilltop Investments I, LLC and Diamond Ground , LLC contributed $19.3 million to Hillcrest Land LLC to complete the purchase. As the voting rights of Hillcrest Land LLC are shared equally between the Company and Diamond Ground, LLC, there is no primary beneficiary, and Diamond Ground, LLC’s interest in Hillcrest Land LLC has been reflected as a noncontrolling interest in the Company’s consolidated financial statements. Therefore, the Company has consolidated Hillcrest Land LLC under the VIE model according to the “most-closely associated” test. The purchased land is included within premises and equipment, net in the consolidated balance sheets. Any income (loss) associated with Hillcrest Land LLC is included within other noninterest income in the consolidated statements of operations. Trusts for which Jeremy Ford and the wife of Corey Prestidge are a beneficiary own 10.2% and 10.1%, respectively, of Diamond Ground, LLC. In connection with the purchase of the land, Hillcrest Land LLC entered into a 99-year ground lease of the land with three tenants-in-common: SPC Park Plaza Partners LLC (“Park Plaza LLC”), an unaffiliated entity which received an undivided 50% leasehold interest; HTH Project LLC, a wholly owned subsidiary of Hilltop, which received an undivided 25% leasehold interest; and Diamond Hillcrest, LLC (“Diamond Hillcrest”), an entity owned by Mr. Gerald J. Ford, which received an undivided 25% leasehold interest (collectively, the “Co-Owners”). The ground lease is triple net. The base rent from the Co-Owners under the ground lease commences 18 months after the ground lease was signed at $1.8 million per year and increases 1.0 % per year each January 1 thereafter. The ground lease was classified as an operating lease under ASC 840, and the accounting commencement date was determined to be July 31, 2018, the date the land was available to the Co-Owners. ​ Concurrent with the ground lease, the Co-Owners entered into an agreement to purchase the improvements of a mixed-use project containing a six-story building (“Hilltop Plaza”). HTH Project LLC and Diamond Diamond ​ Hilltop and the Bank entered into leases for a significant portion of the total rentable corporate office space in Hilltop Plaza which serves as the headquarters for both companies. Affiliates of Mr. Gerald J. Ford also entered into leases for office space in the building. The two separate 129 -month office and retail leases of Hilltop and the Bank, respectively, have combined total base rent of approximately $35 million with the first nine months of rent abated. The accounting commencement date of both leases was determined to be June 20, 2019, the date the building was delivered in order for tenant improvement work to commence. The combined operating lease liability, net of lease incentives, recognized during the second quarter of 2019 as a result of the commencement of these leases was $18.9 million. During 2018, the office and retail leases were considered under the build-to-suit provisions of ASC 840, and the Company was determined to be the accounting owner of the project as its affiliate, HTH Project LLC, has an equity investment in the project. As such, the assets of Hilltop Plaza were recognized during the construction period through December 31, 2018, as costs were incurred to construct the asset, with a corresponding liability representing the costs paid for by the lessor (the Co-Owners). At December 31, 2018, the $27.8 million of costs incurred to date were included within premises and equipment and other liabilities, respectively, in the consolidated balance sheets. The Company reassessed its accounting ownership of the Hilltop Plaza assets under construction as of January 1, 2019, under the build-to-suit provisions of the newly adopted ASC 842, Leases ​ All intercompany transactions associated with the Hilltop Plaza investment and the related transactions discussed above are eliminated in consolidation.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	21. Commitments and Contingencies ​ During 2020, the Bank acted as agent on behalf of certain correspondent banks in the purchase and sale of federal funds that aggregated to $2.5 million and zero at December 31, 2020 and 2019, respectively. ​ 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. ​ The Company is involved in information-gathering requests and investigations (both formal and informal), as well as reviews, examinations and proceedings (collectively, “Inquiries”) by various governmental regulatory agencies, law enforcement authorities and self-regulatory bodies regarding certain of its businesses, business practices and policies, as well as the conduct of persons with whom it does business. Additional Inquiries will arise from time to time. In connection with those Inquiries, the Company receives document requests, subpoenas and other requests for information. The Inquiries could develop into administrative, civil or criminal proceedings or enforcement actions that could result in consequences that have a material effect on the Company's consolidated financial position, results of operations or cash flows as a whole. Such consequences could include adverse judgments, findings, settlements, penalties, fines, orders, injunctions, restitution, or alterations in the Company’s business practices, and could result in additional expenses and collateral costs, including reputational damage. ​ While the final outcome of litigation and claims exposures or of any Inquiries is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation and Inquiries will not, except related to specific matters disclosed above, have a material effect on the Company’s business, consolidated financial position, results of operations or cash flows as a whole. However, in the event of unexpected future developments, it is reasonably possible that an adverse outcome in any matter, including the matters discussed above, could be material to the Company’s business, consolidated financial position, results of operations or cash flows for any particular reporting period of occurrence. ​ Indemnification Liability Reserve ​ The mortgage origination segment may be responsible to agencies, investors, or other parties for errors or omissions relating to its representations and warranties that each loan sold meets certain requirements, including representations as to underwriting standards and the validity of certain borrower representations in connection with the loan. If determined to be at fault, the mortgage origination segment either repurchases the affected loan from or indemnifies the claimant against loss. The mortgage origination segment has established an indemnification liability reserve for such probable losses. ​ Generally, the mortgage origination segment first becomes aware that an agency, investor, or other party believes a loss has been incurred on a sold loan when it receives a written request from the claimant to repurchase the loan or reimburse the claimant’s losses. Upon completing its review of the claimant’s request, the mortgage origination segment establishes a specific claims reserve for the loan if it concludes its obligation to the claimant is both probable and reasonably estimable. ​ An additional reserve has been established for probable agency, investor or other party losses that may have been incurred, but not yet reported to the mortgage origination segment based upon a reasonable estimate of such losses. Factors considered in the calculation of this reserve include, but are not limited to, the total volume of loans sold exclusive of specific claimant requests, actual claim settlements and the severity of estimated losses resulting from future claims, and the mortgage origination segment’s history of successfully curing defects identified in claim requests. 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 December 31, 2020 and 2019, the mortgage origination segment’s indemnification liability reserve totaled $21.5 million and $11.8 million, respectively. The provision for indemnification losses was $11.2 million, $3.1 million, and $3.2 million during 2020, 2019, and 2018, respectively. ​ The following tables provide for a rollforward of claims activity for loans put-back to the mortgage origination segment based upon an alleged breach of a representation or warranty with respect to a loan sold and related indemnification liability reserve activity (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Representation and Warranty Specific Claims ​ Activity - Origination Loan Balance ​ Year Ended December 31, ​ 2020 2019 2018 Balance, beginning of year $ 32,144 ​ $ 33,784 ​ $ 33,702 ​ Claims made 17,429 ​ 20,054 ​ 22,156 ​ Claims resolved with no payment (7,778) ​ (14,154) ​ (13,169) ​ Repurchases (11,588) ​ (6,170) ​ (8,250) ​ Indemnification payments (122) ​ (1,370) ​ (655) ​ Balance, end of year $ 30,085 ​ $ 32,144 ​ $ 33,784 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification Liability Reserve Activity ​ Year Ended December 31, ​ 2020 2019 2018 Balance, beginning of year $ 11,776 ​ $ 10,701 ​ $ 23,472 ​ Additions for new sales 9,991 ​ 3,116 ​ 3,170 ​ Repurchases (768) ​ (495) ​ (612) ​ Early payment defaults (624) ​ (380) ​ (368) ​ Indemnification payments (1) (39) ​ (352) ​ (13,687) ​ Change in reserves for loans sold in prior years 1,195 ​ (814) ​ (1,274) ​ Balance, end of year $ 21,531 ​ $ 11,776 ​ $ 10,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ Reserve for Indemnification Liability: ​ ​ ​ ​ ​ ​ ​ ​ ​ Specific claims $ 961 ​ $ 1,071 ​ ​ ​ ​ Incurred but not reported claims 20,570 ​ ​ 10,705 ​ ​ ​ ​ Total $ 21,531 ​ $ 11,776 ​ ​ ​ ​ (1) Indemnification payments in 2018 included $13.5 million related to agreements with the DOJ and HUD in exchange for release of any civil claims related to certain loans originated by PrimeLending. These claims were included in incurred but not reported claims in prior periods. ​ ​ Although management considers the total indemnification liability reserve to be appropriate, there may be changes in the reserve over time to address incurred losses due to unanticipated adverse changes in the economy and historical loss patterns, discrete events adversely affecting specific borrowers or industries, and/or actions taken by institutions or investors. The impact of such matters is considered in the reserving process when probable and estimable. ​ Other Contingencies ​ As discussed in Note 19 to the consolidated financial statements, effective upon completion of the PlainsCapital Merger, Hilltop entered into separate retention agreements with certain executive officers. As of December 31, 2020, a single retention agreement remains, with an initial term of two years (with automatic one-year renewals at the end of the first year and each anniversary thereof). This retention agreement provides for severance pay benefits if the executive officer’s employment is terminated without “cause”. ​ In addition to this retention agreement, Hilltop and its subsidiaries maintain employment contracts with certain officers that provide for benefits in the event of a “change in control” as defined in these agreements.

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2020
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	22. 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 December 31, 2020 and outstanding financial and performance standby letters of credit of $91.5 million at December 31, 2020. ​ The Bank uses the same credit policies in making commitments and standby letters of credit as it does for loans held for investment. The amount of collateral obtained, if deemed necessary, in these transactions is based on management’s credit evaluation of the borrower. Collateral held varies but may include real estate, accounts receivable, marketable securities, interest-bearing deposit accounts, inventory, and property, plant and equipment. ​ 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	12 Months Ended
	Dec. 31, 2020
Stock-Based Compensation
Stock-Based Compensation	23. 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, 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, 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 awards outstanding under the 2012 Plan as of April 30, 2020. At December 31, 2020, 3,428,547 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 $14.6 million, $11.8 million and $9.1 million during 2020, 2019 and 2018, respectively. ​ During 2020, 2019 and 2018, Hilltop granted 31,222, 26,659 and 30,400 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 Compensation Committee of the board of directors of the Company issued RSUs to certain employees pursuant to the Equity Plans. ​ Certain RSUs are subject to time-based vesting conditions and generally provided for a cliff vest on the third anniversary of the grant date, while other RSUs provided for vesting based upon the achievement of certain performance goals over a three-year period subject to service conditions set forth in the award agreements, with associated costs generally recognized on a straight-line basis over the respective vesting periods. The RSUs are not transferable, and the shares of common stock issuable upon conversion of vested RSUs may be subject to transfer restrictions for a period of one year following conversion, subject to certain exceptions. In addition, the applicable RSU award agreements provide for accelerated vesting under certain conditions. ​ The following table summarizes information about nonvested RSU activity (shares in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ Outstanding Fair Value Balance, December 31, 2017 ​ 1,318 ​ $ 20.89 ​ Granted ​ 510 ​ $ 24.00 ​ Vested/Released ​ (406) ​ $ 19.92 ​ Forfeited ​ (152) ​ $ 20.97 Balance, December 31, 2018 ​ 1,270 ​ $ 22.44 ​ Granted ​ 719 ​ $ 20.02 ​ Vested/Released ​ (496) ​ $ 18.17 ​ Forfeited ​ (56) ​ $ 24.12 Balance, December 31, 2019 ​ 1,437 ​ $ 22.64 ​ Granted ​ 777 ​ $ 21.79 ​ Vested/Released ​ (350) ​ $ 26.83 ​ Forfeited ​ (31) ​ $ 22.38 Balance, December 31, 2020 ​ 1,833 ​ $ 21.48 ​ Vested/Released RSUs include an aggregate of 238,914 shares withheld to satisfy employee statutory tax obligations during 2020, 2019 and 2018. Pursuant to certain RSU award agreements, an aggregate of 5,482 vested RSUs at December 31, 2020 require deferral of the settlement in shares and statutory tax obligations to a future date. ​ During 2020, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 763,140 RSUs pursuant to the Equity Plans. At December 31, 2020, 636,208 of these RSUs are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date, and 122,232 of these outstanding RSUs will cliff vest based upon the achievement of certain performance goals over a three-year period. ​ At December 31, 2020, in the aggregate, 1,543,756 of the 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 December 31, 2020, unrecognized compensation expense related to outstanding RSUs of $20.1 million is expected to be recognized over a weighted average period of 1.49 years.

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2020
Regulatory Matters
Regulatory Matters	24. 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. ​ In addition, bank holding companies with less than $15 billion in assets as of December 31, 2009 are allowed to include junior subordinated debentures in Tier 1 capital, subject to certain restrictions. However, because Hilltop has grown above $15 billion in assets, if we make an acquisition in the future, the debentures issued to the PCC Statutory Trusts I, II, III and IV (the “Trusts”) may be phased out of Tier 1 and into Tier 2 capital. All of the debentures issued to the Trusts, less the common stock of the Trusts, qualified as Tier 1 capital as of December 31, 2020, under guidance issued by the Board of Governors of the Federal Reserve System. ​ The following tables show PlainsCapital’s and Hilltop’s actual capital amounts and ratios in accordance with Basel III compared to the regulatory minimum capital requirements including conservation buffer 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 December 31, 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. Capital amounts and ratios in the following table as of December 31, 2019 are presented on a consolidated basis and include discontinued operations and those assets and liabilities classified as discontinued. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Including ​ To Be Well ​ ​ Actual ​ Conservation Buffer ​ Capitalized ​ Amount Ratio Ratio Ratio December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,385,842 10.44 % 4.0 % 5.0 % Hilltop ​ 2,111,580 12.64 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,385,842 14.40 % 7.0 % 6.5 % Hilltop ​ ​ 2,046,580 18.97 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,385,842 14.40 % 8.5 % 8.0 % Hilltop ​ 2,111,580 19.57 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,470,364 15.27 % 10.5 % 10.0 % Hilltop ​ 2,409,684 22.34 % 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 ​ ​ A reconciliation of equity capital to common equity Tier 1, Tier 1 and total capital (as defined) is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ PlainsCapital Hilltop PlainsCapital Hilltop Total equity capital ​ $ 1,654,249 ​ $ 2,323,939 ​ $ 1,523,549 ​ $ 2,103,039 ​ Add: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net unrealized holding losses (gains) on securities available for sale and held in trust ​ (17,763) ​ (17,763) ​ (9,452) ​ (11,419) ​ CECL transition adjustment ​ ​ 22,905 ​ ​ 23,842 ​ ​ — ​ ​ — ​ Deduct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill and other disallowed intangible assets ​ ​ (273,330) ​ (283,187) ​ (276,249) ​ (313,756) ​ Other ​ ​ (219) ​ (251) ​ (1,559) ​ (1,483) ​ Common equity Tier 1 capital (as defined) ​ ​ 1,385,842 ​ 2,046,580 ​ 1,236,289 ​ ​ 1,776,381 ​ Add: Tier 1 capital ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust preferred securities ​ ​ — ​ 65,000 ​ — ​ 65,000 ​ Deduct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional Tier 1 capital deductions ​ — ​ — ​ — ​ (18,411) ​ Tier 1 capital (as defined) ​ 1,385,842 ​ 2,111,580 ​ 1,236,289 ​ 1,822,970 ​ Add: Allowable Tier 2 capital ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses, including unfunded commitments ​ 120,334 ​ 134,853 ​ 63,164 ​ 63,212 ​ Capital instruments ​ ​ — ​ 200,000 ​ — ​ — ​ Deduct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional Tier 2 capital deductions ​ ​ (35,812) ​ (36,749) ​ — ​ (18,411) ​ Total capital (as defined) ​ $ 1,470,364 ​ $ 2,409,684 ​ $ 1,299,453 ​ $ 1,867,771 ​ ​ 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 requirement using the alternative method. Accordingly, Hilltop Securities is required to maintain minimum net capital, as defined in Rule 15c3-1 promulgated under the Exchange Act, equal to the greater of $250,000 and $1,000,000, respectively, or 2% of aggregate debit balances, as defined in Rule 15c3-3 promulgated under the Exchange Act. Additionally, the net capital rule of the NYSE provides that equity capital may not be withdrawn or cash dividends paid if resulting net capital would be less than 5% of the aggregate debit items. Momentum 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 December 31, 2020, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Momentum ​ ​ ​ Hilltop ​ Independent ​ ​ Securities Network Net capital ​ $ 291,228 ​ $ 3,220 ​ Less: required net capital ​ ​ 7,045 ​ ​ 250 ​ Excess net capital ​ $ 284,183 ​ $ 2,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net capital as a percentage of aggregate debit items ​ ​ 82.7 % ​ ​ ​ Net capital in excess of 5% aggregate debit items ​ $ 273,616 ​ ​ ​ ​ ​ Under certain conditions, Hilltop Securities may be required to segregate cash and securities in a special reserve account for the benefit of customers under Rule 15c3-3 promulgated under the Exchange Act. Assets segregated for regulatory purposes under the provisions of the Exchange Act are restricted and not available for general corporate purposes. At December 31, 2020 and 2019, the Hilltop Broker-Dealers held cash of $290.4 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 or securities in special reserve accounts for the benefit of proprietary accounts of introducing broker-dealers at December 31, 2020. ​ 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 December 31, 2020, PrimeLending and its subsidiaries net worth and liquidity exceeded the amounts required by HUD and GNMA, as applicable.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Stockholders' Equity	25. Stockholders’ Equity ​ The Bank is subject to certain restrictions on the amount of dividends it may declare without prior regulatory approval. At December 31, 2020, $248.1 million of its earnings was available for dividend declaration without prior regulatory approval. ​ Dividends ​ During 2020, 2019 and 2018, the Company declared and paid cash dividends of $0.36, $0.32 and $0.28 per common share, or $32.5 million, $29.6 million and $26.7 million, respectively. ​ On January 28, 2021, the Company announced that its board of directors declared a quarterly cash dividend of $0.12 per common share, payable on February 26, 2021, to all common stockholders of record as of the close of business on February 15, 2021. ​ Stock Repurchase Programs ​ The Company’s board of directors has periodically approved stock repurchase programs under which it authorized the Company to repurchase its outstanding common stock. Under the respective stock repurchase program authorized, the Company could repurchase shares in open-market purchases or through privately negotiated transactions as permitted under Rule 10b-18 promulgated under the Exchange Act. The extent to which the Company repurchased its shares and the timing of such repurchases depended upon market conditions and other corporate considerations, as determined by Hilltop’s management team. Repurchased shares will be returned to the Company’s pool of authorized but unissued shares of common stock. ​ In January 2018, the Hilltop board of directors authorized a stock repurchase program through January 2019 pursuant to which the Company was originally authorized to repurchase, in the aggregate, up to $50.0 million of its outstanding common stock. In July 2018, the Hilltop board of directors authorized an increase to the aggregate amount of common stock the Company may repurchase under this program to $100.0 million, inclusive of repurchases to offset dilution related to grants of stock-based compensation. During 2018, the Company paid $59.0 million to repurchase an aggregate of 2,729,568 shares of common stock at a weighted average price of $21.61 per share. This stock repurchase program expired in January 2019. The purchases were funded from available cash balances. ​ In January 2019, the Hilltop board of directors authorized a stock repurchase program through January 2020, pursuant to which the Company was authorized to repurchase, in the aggregate, up to $50.0 million of its outstanding common stock. On August 19, 2019, the Company entered into a Securities Purchase Agreement to purchase 2,175,404 shares of its common stock from Oak Hill Capital Partners III, L.P., Oak Hill Capital Management Partners III, L.P. and Oak Hill Capital Management, LLC (collectively, “Oak Hill Capital”). The Hilltop board of directors, other than Messrs. J. Taylor Crandall and Gerald J. Ford, considered and approved the purchase of the shares of Hilltop common stock from Oak Hill Capital. Hilltop director J. Taylor Crandall is a founding Managing Partner of Oak Hill Capital Management, LLC. The purchase was consummated on August 20, 2019 at a purchase price of $48.4 million, or $22.25 per share. The purchase price per share was determined by the weighted average of the closing prices of Hilltop common stock as reported by the New York Stock Exchange for each trading day commencing on August 12, 2019 and ending on August 16, 2019. The repurchase of shares by Hilltop from Oak Hill Capital fully utilized all remaining availability of the stock repurchase program previously authorized in January 2019. ​ During 2019, the Company paid $73.4 million to repurchase an aggregate of 3,390,247 shares of common stock at a weighted average price of $21.64 per share. These amounts are inclusive of the repurchase of shares by Hilltop from Oak Hill Capital discussed above. This stock repurchase program expired in January 2020. The purchases were funded from available cash balances. ​ In January 2020, the Hilltop board of directors authorized a new stock repurchase program through January 2021, pursuant to which the Company is authorized to repurchase, in the aggregate, up to $75.0 million of its outstanding common stock, inclusive of repurchases to offset dilution related to grants of stock-based compensation. 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. During 2020, prior to its suspension, the Company paid $15.2 million to repurchase an aggregate of 720,901 shares of common stock at a weighted average price of $21.13 per share associated with the stock repurchase program ​ In January 2021, the Hilltop board of directors authorized a new stock repurchase program through January 2022, 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. ​ 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 up to $350 million. On November 17, 2020, the Company completed its tender offer, repurchasing 8,058,947 shares of outstanding common stock at a price of $24.00 per share for a total of $193.4 million excluding fees and expenses. The Company funded the tender offer with cash on hand. ​

Other Noninterest Income and Ex

Other Noninterest Income and Expense	12 Months Ended
	Dec. 31, 2020
Other Noninterest Income and Expense
Other Noninterest Income and Expense	26. Other Noninterest Income and Expense ​ The following table shows the components of other noninterest income and expense (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Other noninterest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gains from trading securities portfolio ​ $ 121,983 ​ $ 20,521 ​ $ 6,197 Net gains from Hilltop Broker-Dealer structured product and derivative activities ​ 81,111 ​ 129,571 ​ 41,543 Service charges on depositor accounts ​ 14,845 ​ 15,170 ​ ​ 14,484 Trust fees ​ ​ 9,804 ​ ​ 10,255 ​ ​ 9,807 Other ​ 15,862 ​ 10,833 ​ 18,365 ​ ​ $ 243,605 ​ $ 186,350 ​ $ 90,396 Other noninterest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ Software and information technology ​ $ 56,872 ​ $ 50,751 ​ $ 52,882 Mortgage origination and servicing ​ ​ 27,808 ​ ​ 19,892 ​ ​ 19,705 Brokerage commissions and fees ​ ​ 24,113 ​ ​ 20,039 ​ ​ 20,674 Unreimbursed loan closing costs ​ ​ 21,696 ​ ​ 16,784 ​ ​ 16,798 Business development ​ 10,190 ​ 12,940 ​ 15,853 Amortization of intangible assets ​ 6,301 ​ 7,567 ​ 8,026 Travel, meals and entertainment ​ 4,804 ​ 12,160 ​ 11,968 Funding fees ​ 4,461 ​ 5,393 ​ 5,414 Office supplies ​ 3,953 ​ 4,809 ​ 5,788 Other ​ ​ 64,560 ​ ​ 43,051 ​ ​ 55,284 ​ ​ $ 224,758 ​ $ 193,386 ​ $ 212,392 ​

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2020
Derivative Financial Instruments
Derivative Financial Instruments	27. Derivative Financial Instruments ​ The Company uses various derivative financial instruments to mitigate interest rate risk. The Bank’s interest rate risk management strategy involves effectively managing the re-pricing characteristics of certain assets and liabilities to mitigate potential adverse impacts from changes in interest rates on the Bank’s net interest margin. Additionally, the Bank manages variability of cash flows associated with its variable rate debt in interest-related cash outflows with interest rate swap contracts. PrimeLending has interest rate risk relative to interest rate lock commitments (“IRLCs”) and its inventory of mortgage loans held for sale. PrimeLending is exposed to such interest rate risk from the time an IRLC is made to an applicant to the time the related mortgage loan is sold. To mitigate interest rate risk, PrimeLending executes forward commitments to sell mortgage-backed securities (“MBSs”) and Eurodollar futures. Additionally, PrimeLending has interest rate risk relative to its MSR asset and uses derivative instruments, including interest rate swaps and U.S. Treasury bond futures and options, to hedge this risk. The Hilltop Broker-Dealers use forward commitments to both purchase and sell MBSs to facilitate customer transactions and as a means to hedge related exposure to interest rate risk in certain inventory positions. Additionally, Hilltop Securities uses U.S. Treasury bond, Eurodollar futures and municipal market data, or MMD, rate locks to hedge changes in the fair value of its securities. ​ Non-Hedging Derivative Instruments and the Fair Value Option ​ As discussed in Note 5 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 12 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 2019 ​ 2018 Increase (decrease) in fair value of derivatives during period: ​ ​ ​ ​ ​ ​ ​ ​ ​ PrimeLending ​ $ 33,714 ​ $ 8,550 ​ $ (12,788) Hilltop Broker-Dealers ​ ​ 3,969 ​ ​ (3,085) ​ ​ (381) Bank ​ ​ (7) ​ ​ (148) ​ ​ 30 ​ Hedging Derivative Instruments ​ During 2020, the Company entered into interest rate swap contracts with the initial notional amount of $61 million to manage the exposure to changes in fair value associated with certain available for sale fixed rate collateralized mortgage backed securities attributable to changes in the designated benchmark interest rate. These fair value hedges have been designated as a last-of-layer hedge, which provides the Company the ability to execute a fair value hedge of the interest rate risk associated with a portfolio of similar prepayable assets whereby the last dollar amount estimated to remain in the portfolio of assets is identified as the hedged item. Under these interest rate swap contracts, we receive a floating rate and pay a fixed rate on the outstanding notional amount. The Company recorded a cumulative basis adjustment. The Company has assessed the hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. ​ The Company has outstanding interest rate swap contracts utilized to manage the variability of cash flows associated with our variable rate borrowings. Under these interest rate swap contract, we receive a floating rate and pay a fixed rate on the outstanding notional amount. The Company has designated the interest rate swap as a cash flow hedge and assessed the hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. To the extent that the interest rate swap is highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the derivative are included as a component of other comprehensive loss on our consolidated balance sheets. Although the Company has determined at the onset of the hedge that the interest rate swap will be a highly effective hedge throughout the term of the contract, any portion of fair value swap subsequently determined to be ineffective will be recognized in earnings. ​ Derivative positions are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Notional Estimated Notional Estimated ​ ​ Amount ​ Fair Value ​ Amount ​ Fair Value Derivative instruments (not designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLCs ​ $ 2,470,013 ​ $ 76,048 ​ $ 914,526 ​ $ 18,222 Customer-based written options ​ — ​ — ​ 31,200 ​ — Customer-based purchased options ​ — ​ — ​ 31,200 ​ — Commitments to purchase MBSs ​ 2,478,041 ​ 22,311 ​ 3,346,946 ​ 3,321 Commitments to sell MBSs ​ ​ 6,141,079 ​ (40,621) ​ 5,988,198 ​ (5,904) Interest rate swaps ​ ​ 43,786 ​ (2,196) ​ 15,012 ​ (178) U.S. Treasury bond futures and options (1) ​ ​ 225,400 ​ — ​ 283,500 ​ — Eurodollar futures (1) ​ ​ — ​ — ​ 934,000 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments (designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as cash flow hedges ​ $ 105,000 ​ $ (3,112) ​ $ 50,000 ​ $ 528 Interest rate swaps designated as fair value hedges (2) ​ ​ 60,618 ​ ​ (130) ​ ​ — ​ ​ — (1) Changes in the fair value of these contracts are settled daily with the respective counterparties of PrimeLending and the Hilltop Broker-Dealers. (2) The Company designated $60.6 million as the hedged amount (from a closed portfolio of prepayable available for sale securities with a carrying value of $60.7 million as of December 31, 2020) in a last-of-layer hedging relationship, which commenced in the fourth quarter of 2020. The cumulative basis adjustment included in the carrying value of the hedged items totaled $0.1 million. ​ The increase in the estimated fair value of the IRLCs at December 30, 2020, compared to December 31, 2019, was driven by the accelerated decrease in mortgage interest rates during 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 has cash collateral advances totaling $26.1 million and $4.5 million to offset net liability derivative positions on its commitments to sell MBSs at December 31, 2020 and 2019, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers advanced cash collateral totaling $2.7 million and $3.7 million on its U.S. Treasury bond futures and options and Eurodollar futures at December 31, 2020 and 2019, respectively. These amounts are included in other assets within the consolidated balance sheets.

Balance Sheet Offsetting

Balance Sheet Offsetting	12 Months Ended
	Dec. 31, 2020
Balance Sheet Offsetting
Balance Sheet Offsetting	28. Balance Sheet Offsetting ​ Certain financial instruments, including resale and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheets and/or subject to master netting arrangements or similar agreements. The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Amounts ​ the Balance Sheet ​ ​ ​ ​ Gross Amounts Gross Amounts of Assets ​ Cash ​ ​ ​ of Recognized ​ Offset in the ​ Presented in the ​ Financial ​ Collateral ​ Net ​ ​ Assets ​ Balance Sheet ​ Balance Sheet ​ Instruments ​ Pledged ​ Amount December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities borrowed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,338,855 ​ $ — ​ $ 1,338,855 ​ $ (1,273,955) ​ $ — ​ $ 64,900 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reverse repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 80,319 ​ ​ — ​ ​ 80,319 ​ ​ (79,925) ​ ​ — ​ ​ 394 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 22,311 ​ — ​ 22,311 ​ (22,311) ​ — ​ — ​ ​ $ 1,441,485 ​ $ — ​ $ 1,441,485 ​ $ (1,376,191) ​ $ — ​ $ 65,294 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 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities loaned: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,245,066 ​ $ — ​ $ 1,245,066 ​ $ (1,179,090) ​ $ — ​ $ 65,976 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 2,196 ​ — ​ 2,196 ​ (2,123) ​ — ​ 73 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 237,856 ​ — ​ 237,856 ​ (237,856) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 40,741 ​ (120) ​ 40,621 ​ (12,670) ​ — ​ 27,951 ​ ​ $ 1,525,859 ​ $ (120) ​ $ 1,525,739 ​ $ (1,431,739) ​ $ — ​ $ 94,000 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 December 31, 2020 and 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining Contractual Maturities ​ ​ Overnight and ​ ​ ​ ​ ​ Greater Than ​ ​ ​ December 31, 2020 ​ Continuous ​ Up to 30 Days ​ 30-90 Days ​ 90 Days ​ Total Repurchase agreement transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-backed securities ​ $ 110,831 ​ $ — ​ $ 127,025 ​ $ — ​ $ 237,856 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities lending transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate securities ​ ​ 113 ​ ​ — ​ ​ — ​ ​ — ​ ​ 113 Equity securities ​ ​ 1,244,953 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,244,953 Total ​ $ 1,355,897 ​ $ — ​ $ 127,025 ​ $ — ​ $ 1,482,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above ​ ​ ​ ​ $ 1,482,922 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	12 Months Ended
	Dec. 31, 2020
Broker-Dealer and Clearing Organization Receivables and Payables
Broker-Dealer and Clearing Organization Receivables and Payables	29. Broker-Dealer and Clearing Organization Receivables and Payables ​ Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Receivables: ​ ​ ​ ​ ​ ​ ​ Securities borrowed ​ $ 1,338,855 ​ $ 1,634,782 ​ Securities failed to deliver ​ 58,244 ​ 18,726 ​ Trades in process of settlement ​ — ​ 104,922 ​ Other ​ 7,628 ​ 21,850 ​ ​ ​ $ 1,404,727 ​ $ 1,780,280 ​ Payables: ​ ​ ​ ​ ​ ​ ​ Securities loaned ​ $ 1,245,066 ​ $ 1,555,964 ​ Correspondents ​ 33,547 ​ 37,036 ​ Securities failed to receive ​ 61,589 ​ 8,568 ​ Trades in process of settlement ​ 21,765 ​ — ​ Other ​ 6,406 ​ 3,950 ​ ​ ​ $ 1,368,373 ​ $ 1,605,518 ​ ​

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2020
Segment and Related Information
Segment and Related Information	30. Segment and Related Information ​ Following the sale of NLC on June 30, 2020, we have two primary business units within continuing operations, PCC (banking and mortgage origination) and Securities Holdings (broker-dealer). Under GAAP, our continuing operations business units are comprised of three reportable business segments organized primarily by the core products offered to the segments’ respective customers: banking, broker-dealer and mortgage origination. 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, which comprised the operations of the former insurance segment. As a result, insurance segment results and its assets and liabilities have been presented as discontinued operations in the consolidated financial statements. Income from discontinued operations before taxes was $38.9 million, $17.6 million and $5.8 million during 2020, 2019 and 2018, respectively. At December 31, 2019, goodwill and assets of discontinued operations were $24.0 million and $248.4 million, respectively. ​ 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 continuing operations reportable business segment revenues, operating results, goodwill and assets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ ​ ​ All Other and ​ Continuing Year Ended December 31, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations Net interest income (expense) ​ $ 390,871 ​ $ 39,912 ​ $ (10,489) ​ $ (14,192) ​ $ 18,064 ​ $ 424,166 Provision for credit losses ​ 96,326 ​ ​ 165 ​ ​ — ​ ​ — ​ ​ — ​ 96,491 Noninterest income ​ 41,376 ​ ​ 491,355 ​ ​ 1,172,450 ​ ​ 3,945 ​ ​ (18,646) ​ 1,690,480 Noninterest expense ​ 232,447 ​ 415,463 ​ 753,917 ​ ​ 53,040 ​ ​ (1,064) ​ 1,453,803 Income (loss) from continuing operations before taxes ​ $ 103,474 ​ $ 115,639 ​ $ 408,044 ​ $ (63,287) ​ $ 482 ​ $ 564,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ All Other and Continuing Year Ended December 31, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations Net interest income (expense) ​ $ 379,258 ​ $ 51,308 ​ $ (6,273) ​ $ (5,541) ​ $ 20,227 ​ $ 438,979 Provision for (reversal of) credit losses ​ 7,280 ​ ​ (74) ​ ​ — ​ ​ — ​ ​ — ​ 7,206 Noninterest income ​ 41,753 ​ ​ 404,411 ​ ​ 634,992 ​ ​ 2,104 ​ ​ (20,443) ​ 1,062,817 Noninterest expense ​ 231,524 ​ 366,031 ​ 563,998 ​ ​ 50,968 ​ ​ (632) ​ 1,211,889 Income (loss) from continuing operations before taxes ​ $ 182,207 ​ $ 89,762 ​ $ 64,721 ​ $ (54,405) ​ $ 416 ​ $ 282,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ All Other and Continuing Year Ended December 31, 2018 ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations Net interest income (expense) ​ $ 370,732 ​ $ 50,878 ​ $ 1,485 ​ $ (9,176) ​ $ 19,380 ​ $ 433,299 Provision for (reversal of) credit losses ​ 5,319 ​ ​ (231) ​ ​ — ​ ​ — ​ ​ — ​ 5,088 Noninterest income ​ 43,588 ​ ​ 301,714 ​ ​ 551,860 ​ ​ 4,798 ​ ​ (21,830) ​ 880,130 Noninterest expense ​ 256,577 ​ 320,241 ​ 540,474 ​ ​ 36,628 ​ ​ (592) ​ 1,153,328 Income (loss) from continuing operations before taxes ​ $ 152,424 ​ $ 32,582 ​ $ 12,871 ​ $ (41,006) ​ $ (1,858) ​ $ 155,013 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ All Other and Continuing ​ ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 13,338,930 ​ $ 3,196,346 ​ $ 3,285,005 ​ $ 2,823,374 ​ $ (5,699,391) ​ $ 16,944,264 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets in continuing operations ​ $ 11,147,344 ​ $ 3,457,068 ​ $ 2,357,415 ​ $ 2,393,604 ​ $ (4,431,412) ​ $ 14,924,019 ​ ​

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2020
Earnings per Common Share
Earnings per Common Share	31. Earnings per Common Share ​ The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 409,440 ​ $ 211,301 ​ $ 116,500 ​ Income from discontinued operations ​ ​ 38,396 ​ ​ 13,990 ​ ​ 4,941 ​ Income attributable to Hilltop ​ $ 447,836 ​ $ 225,291 ​ $ 121,441 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 89,280 ​ 92,345 ​ 94,969 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 4.59 ​ $ 2.29 ​ $ 1.23 ​ Income from discontinued operations ​ ​ 0.43 ​ ​ 0.15 ​ ​ 0.05 ​ ​ ​ $ 5.02 ​ $ 2.44 ​ $ 1.28 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 409,440 ​ $ 211,301 ​ $ 116,500 ​ Income from discontinued operations ​ ​ 38,396 ​ ​ 13,990 ​ ​ 4,941 ​ Income attributable to Hilltop ​ $ 447,836 ​ $ 225,291 ​ $ 121,441 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 89,280 ​ 92,345 ​ 94,969 ​ Effect of potentially dilutive securities ​ 24 ​ 49 ​ 98 ​ Weighted average shares outstanding - diluted ​ 89,304 ​ 92,394 ​ 95,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 4.58 ​ $ 2.29 ​ $ 1.23 ​ Income from discontinued operations ​ ​ 0.43 ​ ​ 0.15 ​ ​ 0.05 ​ ​ ​ $ 5.01 ​ $ 2.44 ​ $ 1.28 ​ ​

Financial Statements of Parent

Financial Statements of Parent	12 Months Ended
	Dec. 31, 2020
Financial Statements of Parent
Financial Statements of Parent	32. Financial Statements of Parent ​ The following tables present the condensed combined financial statements of the Company’s bank holding company entities, Hilltop and PCC. The tables also include the corporate activities associated with Hilltop Opportunity Partners LLC and the Hilltop Plaza Entities (in thousands). Investments in subsidiaries are determined using the equity method of accounting. ​ Condensed Combined Statements of Operations and Comprehensive Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 2019 2018 Dividends from bank subsidiaries ​ $ 249,771 ​ $ 143,000 ​ $ 42,000 ​ Dividends from nonbank subsidiaries ​ ​ 56,150 ​ ​ 36,950 ​ ​ 37,500 ​ Investment income ​ ​ 4,102 ​ ​ 5,933 ​ ​ 3,089 ​ Interest expense ​ ​ 18,294 ​ ​ 11,474 ​ ​ 12,265 ​ Other income ​ ​ 45,887 ​ ​ 2,221 ​ ​ 4,893 ​ General and administrative expense ​ 58,130 ​ 50,968 ​ 36,628 ​ Income before income taxes and equity in undistributed earnings of subsidiaries activity ​ 279,486 ​ ​ 125,662 ​ 38,589 ​ Income tax benefit ​ (13,897) ​ (12,706) ​ (7,767) ​ Equity in undistributed earnings of subsidiaries ​ 176,294 ​ 94,609 ​ 79,371 ​ Net income ​ $ 469,677 ​ $ 232,977 ​ $ 125,727 ​ Other comprehensive income (loss), net ​ ​ 6,344 ​ ​ 20,046 ​ ​ (5,656) ​ Comprehensive income ​ $ 476,021 ​ $ 253,023 ​ $ 120,071 ​ ​ Condensed Combined Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 2018 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 478,826 ​ $ 116,471 ​ $ 54,405 Investment in subsidiaries: ​ ​ ​ ​ ​ ​ ​ ​ Bank subsidiaries ​ ​ 1,654,249 ​ 1,523,549 ​ 1,459,984 Nonbank subsidiaries ​ ​ 453,847 ​ 533,844 ​ 483,593 Other assets ​ 236,452 ​ 219,740 ​ 245,200 Total assets ​ $ 2,823,374 ​ $ 2,393,604 ​ $ 2,243,182 Liabilities and Stockholders’ Equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 64,635 ​ $ 53,418 ​ $ 58,319 Notes payable ​ 412,764 ​ 215,780 ​ 215,620 Stockholders’ equity ​ 2,345,975 ​ 2,124,406 ​ 1,969,243 Total liabilities and stockholders’ equity ​ $ 2,823,374 ​ $ 2,393,604 ​ $ 2,243,182 ​ Condensed Combined Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 469,677 ​ $ 232,977 ​ $ 125,727 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in undistributed earnings of subsidiaries ​ (176,294) ​ (94,609) ​ (79,371) Net realized gains on equity investments ​ — ​ — ​ (5,336) Net realized gains on disposal of discontinued operations ​ ​ (41,901) ​ ​ — ​ ​ — Deferred income taxes ​ 4,432 ​ (123) ​ 217 Other, net ​ 37,465 ​ 44,943 ​ 19,368 Net cash provided by operating activities ​ 293,379 ​ 183,188 ​ 60,605 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases of equity investments ​ ​ (29,365) ​ — ​ (12,492) Purchases of premises and equipment and other ​ (12,547) ​ (17,302) ​ (42,390) Proceeds from sales of equity investments ​ ​ — ​ ​ — ​ ​ 16,174 Proceeds from sale of discontinued operations ​ ​ 154,963 ​ ​ — ​ ​ — Net cash provided by (used in) investing activities ​ 113,051 ​ (17,302) ​ (38,708) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments to repurchase common stock ​ ​ (208,664) ​ ​ (73,385) ​ ​ (58,990) Proceeds from issuance of notes payable ​ ​ 196,657 ​ ​ — ​ ​ — Dividends paid on common stock ​ ​ (32,524) ​ ​ (29,627) ​ ​ (26,698) Net cash contributed from noncontrolling interest ​ ​ 825 ​ ​ 100 ​ ​ 19,250 Other, net ​ ​ (369) ​ ​ (908) ​ ​ 2,182 Net cash used in financing activities ​ (44,075) ​ (103,820) ​ (64,256) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ​ 362,355 ​ 62,066 ​ (42,359) Cash and cash equivalents, beginning of year ​ 116,471 ​ 54,405 ​ ​ 96,764 Cash and cash equivalents, end of year ​ $ 478,826 ​ $ 116,471 ​ $ 54,405 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental Schedule of Non-Cash Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction in progress related to build-to-suit lease obligations ​ $ — ​ $ — ​ $ 27,802 Note receivable contributed from nonbank subsidiary ​ $ — ​ $ — ​ $ 111,653 ​

Selected Quarterly Financial In

Selected Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2020
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Information (Unaudited)	33 Selected Quarterly Financial Information (Unaudited) ​ Selected quarterly financial information is summarized as follows (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ ​ ​ Fourth Third Second First Full ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year Interest income ​ $ 136,861 ​ $ 129,828 ​ $ 134,931 ​ $ 144,875 ​ $ 546,495 Interest expense ​ 29,489 ​ 27,928 ​ 30,373 ​ 34,539 ​ 122,329 Net interest income ​ 107,372 ​ 101,900 ​ 104,558 ​ 110,336 ​ 424,166 Provision for (reversal of) credit losses ​ (3,482) ​ (602) ​ 66,026 ​ 34,549 ​ 96,491 Noninterest income ​ 447,931 ​ 502,711 ​ 468,125 ​ 271,713 ​ 1,690,480 Noninterest expense ​ 402,348 ​ 399,345 ​ 370,209 ​ 281,901 ​ 1,453,803 Income from continuing operations before income taxes ​ 156,437 ​ 205,868 ​ 136,448 ​ 65,599 ​ 564,352 Income tax expense ​ 39,295 ​ 46,820 ​ 31,808 ​ 15,148 ​ 133,071 Income from continuing operations ​ ​ 117,142 ​ ​ 159,048 ​ ​ 104,640 ​ ​ 50,451 ​ ​ 431,281 Income from discontinued operations, net of income taxes ​ ​ 3,734 ​ ​ 736 ​ ​ 30,775 ​ ​ 3,151 ​ ​ 38,396 Net income ​ 120,876 ​ 159,784 ​ 135,415 ​ 53,602 ​ 469,677 Less: Net income attributable to noncontrolling interest ​ 4,431 ​ 6,505 ​ 6,939 ​ 3,966 ​ 21,841 Income attributable to Hilltop ​ $ 116,445 ​ $ 153,279 ​ $ 128,476 ​ $ 49,636 ​ $ 447,836 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 1.31 ​ $ 1.69 ​ $ 1.08 ​ $ 0.51 ​ $ 4.59 Earnings from discontinued operations ​ ​ 0.04 ​ ​ 0.01 ​ ​ 0.34 ​ ​ 0.04 ​ ​ 0.43 ​ ​ $ 1.35 ​ $ 1.70 ​ $ 1.42 ​ $ 0.55 ​ $ 5.02 Diluted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 1.30 ​ $ 1.69 ​ $ 1.08 ​ $ 0.51 ​ $ 4.58 Earnings from discontinued operations ​ ​ 0.05 ​ ​ 0.01 ​ ​ 0.34 ​ ​ 0.04 ​ ​ 0.43 ​ ​ $ 1.35 ​ $ 1.70 ​ $ 1.42 ​ $ 0.55 ​ $ 5.01 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash dividends declared per common share ​ $ 0.09 ​ $ 0.09 ​ $ 0.09 ​ $ 0.09 ​ $ 0.36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ ​ ​ ​ Fourth Third Second First Full ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year Interest income ​ $ 151,818 ​ $ 160,940 ​ $ 149,000 ​ $ 148,938 ​ $ 610,696 Interest expense ​ 41,058 ​ 48,294 ​ 41,716 ​ 40,649 ​ 171,717 Net interest income ​ 110,760 ​ 112,646 ​ 107,284 ​ 108,289 ​ 438,979 Provision for (reversal of) credit losses ​ 6,880 ​ 47 ​ (672) ​ 951 ​ 7,206 Noninterest income ​ 263,646 ​ 306,505 ​ 276,703 ​ 215,963 ​ 1,062,817 Noninterest expense ​ 307,868 ​ 321,186 ​ 304,088 ​ 278,747 ​ 1,211,889 Income from continuing operations before income taxes ​ 59,658 ​ 97,918 ​ 80,571 ​ 44,554 ​ 282,701 Income tax expense ​ 13,579 ​ 21,472 ​ 18,526 ​ 10,137 ​ 63,714 Income from continuing operations ​ ​ 46,079 ​ ​ 76,446 ​ ​ 62,045 ​ ​ 34,417 ​ ​ 218,987 Income (loss) from discontinued operations, net of income taxes ​ ​ 5,623 ​ ​ 5,261 ​ ​ (2,254) ​ ​ 5,360 ​ ​ 13,990 Net income ​ 51,702 ​ 81,707 ​ 59,791 ​ 39,777 ​ 232,977 Less: Net income attributable to noncontrolling interest ​ 2,426 ​ 2,289 ​ 1,980 ​ 991 ​ 7,686 Income attributable to Hilltop ​ $ 49,276 ​ $ 79,418 ​ $ 57,811 ​ $ 38,786 ​ $ 225,291 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 0.48 ​ $ 0.81 ​ $ 0.64 ​ $ 0.36 ​ $ 2.29 Earnings (losses) from discontinued operations ​ ​ 0.06 ​ ​ 0.06 ​ ​ (0.02) ​ ​ 0.05 ​ ​ 0.15 ​ ​ $ 0.54 ​ $ 0.87 ​ $ 0.62 ​ $ 0.41 ​ $ 2.44 Diluted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 0.48 ​ $ 0.81 ​ $ 0.64 ​ $ 0.36 ​ $ 2.29 Earnings (losses) from discontinued operations ​ ​ 0.06 ​ ​ 0.05 ​ ​ (0.02) ​ ​ 0.05 ​ ​ 0.15 ​ ​ $ 0.54 ​ $ 0.86 ​ $ 0.62 ​ $ 0.41 ​ $ 2.44 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash dividends declared per common share ​ $ 0.08 ​ $ 0.08 ​ $ 0.08 ​ $ 0.08 ​ $ 0.32 ​

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Summary of Significant Accounting and Reporting Policies
Nature of Operations	Nature of Operations ​ Hilltop Holdings Inc. (“Hilltop” and, collectively with its subsidiaries, the “Company”) is a financial holding company registered under the Bank Holding Company Act of 1956. The Company’s primary line of business is to provide business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the “Bank”). In addition, the Company provides an array of financial products and services through its broker-dealer 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 comprised the operations of the former insurance segment, for cash proceeds of $154.1 million and was 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. ​ As a result of the above noted sale of NLC, the Company, headquartered in Dallas, Texas, provides its products and services through two primary business units 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, clearing, securities lending, structured finance and retail brokerage services throughout the United States. Unless otherwise noted, the Company’s notes to the consolidated financial statements present information limited to continuing operations. ​ 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 audited 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”). Other than changes related to the implementation of the current expected credit losses (“CECL”) standard, as further described in Note 2 to the consolidated financial statements, 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”), Momentum Independent Network Inc., formerly Hilltop Securities Independent Network Inc., (“Momentum 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 Securities and Exchange Commission (“SEC”) and Financial Industry Regulatory Authority (“FINRA”) and a member of the New York Stock Exchange (“NYSE”), Momentum Independent Network is an introducing broker-dealer that is also registered with the SEC and FINRA. Hilltop Securities, Momentum 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 Investments I, LLC ​ The consolidated financial statements include the accounts of the above-named entities. Intercompany transactions and balances have been eliminated. Noncontrolling interests have been recorded for minority ownership in entities that are not wholly owned and are presented in compliance with the provisions of Noncontrolling Interest in Subsidiary Subsections of the ASC. ​ Certain reclassifications have been made to the prior period consolidated financial statements to conform with the current period presentation, including reclassifications due to the adoption of new accounting pronouncements 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.
Use of Estimates	Use of Estimates ​ 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 assets are particularly subject to change. The Company has applied its critical accounting policies and estimation methods consistently in all periods presented in these consolidated financial statements.
Acquisition Accounting	Acquisition Accounting ​ Acquisitions are accounted for under the acquisition method of accounting. Purchased assets, including identifiable intangible assets, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a bargain purchase gain is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized.
Securities Purchased Under Agreements to Resell	Securities Purchased Under Agreements to Resell ​ Securities purchased under agreements to resell (reverse repurchase agreements or reverse repos) are treated as collateralized financings and are carried at the amounts at which the securities will subsequently be resold as specified in the agreements. The Company is in possession of collateral with a fair value equal to or in excess of the contract amounts.
Securities	Securities ​ Management classifies securities at the time of purchase and reassesses such designation at each balance sheet date. Securities held for resale to facilitate principal transactions with customers are classified as trading and are carried at fair value, with changes in fair value reflected in the consolidated statements of operations. 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. ​
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. ​ Under the new credit loss guidance adopted on January 1, 2020, the previous other-than-temporary-impairment (“OTTI”) model was replaced. 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. 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 Sale	Loans Held for Sale ​ Loans held for sale consist primarily of single-family residential mortgages funded through PrimeLending. These loans are generally on the consolidated balance sheet between 30 and 45 days. Substantially all mortgage loans originated by PrimeLending are sold to various investors in the secondary market, historically with the majority with servicing released. Mortgage loans held for sale are carried at fair value in accordance with the provisions of the Fair Value Option Subsections of the ASC (the “Fair Value Option”). Changes in the fair value of the loans held for sale are recognized in earnings and fees and costs associated with origination are recognized as incurred. The specific identification method is used to determine realized gains and losses on sales of loans, which are reported as net gains (losses) in noninterest income. Loans sold are subject to certain indemnification provisions with investors, including the repurchase of loans sold and repayment of certain sales proceeds to investors under certain conditions. In addition, certain mortgage loans guaranteed by U.S. Government agencies and sold into Government National Mortgage Association (“GNMA”) pools may, under certain conditions specified in the government programs, become subject to repurchase by PrimeLending. When such loans subject to repurchase no longer qualify for sale accounting, they are reported as loans held for sale in the consolidated balance sheets.
Loans Held for Investment	Loans Held for Investment ​ Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the amount of unpaid principal reduced by unearned income, net unamortized deferred fees and an allowance for 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. In response to the ongoing COVID-19 pandemic, the Company allowed modifications, such as payment deferrals for up to 90 days and temporary forbearance, to credit-worthy borrowers who are experiencing temporary hardship due to the effects of COVID-19. These modifications generally meet the criteria of the CARES Act, and therefore, the Company does not account for such loan modifications as TDRs ​ 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. ​ 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.
Allowance for Loan Losses for Loans Held for Investment	Allowance for Loan Losses for Loans Held for Investment ​ Prior to the adoption of the new CECL standard as described in Note 2 to the consolidated financial statements, the Company’s allowance for loan losses was a reserve established through a provision for loan losses charged to or recovered from expense, which represents management’s best estimate of probable losses inherent in the existing portfolio of loans at the balance sheet date. The allowance for loan losses included allowance allocations calculated in accordance with the regulatory Interagency Policy Statement on the Allowance for Loan and Lease Losses and the Receivables and Contingencies Topics of the ASC. The level of the allowance reflected management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions, and unidentified losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilized its best judgment and information available, the ultimate adequacy of the allowance is dependent upon a variety of factors beyond its control, including the performance of the loan portfolio, the economy and changes in interest rates. ​ The Bank’s allowance for loan losses consisted of three elements: (i) specific valuation allowances established for probable losses on individually impaired loans; (ii) general historical valuation allowances calculated based on historical loan loss experience for homogenous loans with similar collateral; and (iii) valuation allowances to adjust general reserves based on current economic conditions and other qualitative risk factors, including projected loss emergence period, both internal and external to the Bank. ​ Changes in the volume and severity of past due, non-accrual and classified loans, as well as changes in the nature, volume and terms of loans in the portfolio are key indicators of changes that could indicate a necessary adjustment to the historical loss factors. Classified loans are defined as loans having a well-defined weakness or weaknesses related to the borrower's financial capacity or to pledged collateral that may jeopardize the repayment of the debt. They are characterized by the possibility that the Bank may sustain some loss if the deficiencies giving rise to the substandard classification are not corrected. The magnitude of the impact of these factors on the qualitative assessment of the allowance for loan loss changes from quarter to quarter. Periodically, management conducted an analysis to estimate the loss emergence period for each loan portfolio segment based on historical charge-offs, loan type and loan payment history and considered available industry peer bank data. Model output by loan category was reviewed to evaluate the reasonableness of the reserve levels in comparison to the estimated loss emergence period applied to historical loss experience. ​ In connection with business combinations, the Bank acquired loans both with and without evidence of credit quality deterioration since origination. PCI loans were accounted for in pools as well as on an individual loan basis. Cash flows expected to be collected were recast quarterly for each loan or pool. These evaluations required the continued use and updating of key assumptions and estimates such as default rates, loss severity given default and prepayment speed assumptions (similar to those used for the initial fair value estimate). Management judgment was applied in developing these assumptions. If expected cash flows for a loan or pool decreased, an increase in the allowance for loan losses was made through a charge to the provision for loan losses. If expected cash flows for a loan or pool increased, any previously established allowance for loan losses was reversed and any remaining difference increased the accretable yield. This increase in accretable yield was taken into income over the remaining life of the loan. ​ Loans without evidence of credit impairment at acquisition were subsequently evaluated for any required allowance at each reporting date. An allowance for loan losses was calculated using a methodology similar to that described above for originated loans. The allowance as determined for each loan collateral type was compared to the remaining fair value discount for that loan collateral type. If greater, the excess was recognized as an addition to the allowance through a provision for loan losses. If less than the discount, no additional allowance was recorded. Charge-offs and losses first reduced any remaining fair value discount for the loan and once the discount was depleted, losses were applied against the allowance established for that loan.
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.
Broker-Dealer and Clearing Organization Transactions	Broker-Dealer and Clearing Organization Transactions ​ Amounts recorded in broker-dealer and clearing organization receivables and payables include securities lending activities, as well as amounts related to securities transactions for either customers of the Hilltop Broker-Dealers or for the accounts of the Hilltop Broker-Dealers. Securities borrowed and securities loaned transactions are generally reported as collateralized financings. Securities borrowed transactions require the Hilltop Broker-Dealers to deposit cash, letters of credit, or other collateral with the lender. With respect to securities loaned, the Hilltop Broker-Dealers receive collateral in the form of cash or other assets in an amount generally in excess of the market value of securities loaned. The Hilltop Broker-Dealers monitor the market value of securities borrowed and loaned on a daily basis, with additional collateral obtained or refunded as necessary. Interest income and interest expense associated with collateralized financings is included in the accompanying consolidated statements of operations.
Premises and Equipment	Premises and Equipment ​ Premises and equipment are stated at cost less accumulated depreciation and amortization computed principally on the straight-line method over the estimated useful lives of the assets, which range between 3 and 25 years. Gains or losses on disposals of premises and equipment are included in results of operations.
Leases	Leases ​ The Company determines if an arrangement is a lease at inception. Operating leases with a term of greater than one year are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the Company’s consolidated balance sheets. Finance leases are included in premises and equipment and other liabilities on the Company’s consolidated balance sheets. The Company has lease agreements with lease and nonlease components, which are generally accounted for as a single lease component. Leases of low-value assets are assessed on a lease-by-lease basis to determine the need for balance sheet capitalization. ​ ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate commensurate with the lease term based on the information available at the lease commencement date in determining the present value of lease payments. No significant judgments or assumptions were involved in developing the estimated operating lease liabilities as the Company’s operating lease liabilities largely represent the future rental expenses associated with operating leases, and the incremental borrowing rates are based on publicly available interest rates. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease. These options to extend or terminate are assessed on a lease-by-lease basis, and the ROU assets and lease liabilities are adjusted when it is reasonably certain that an option will be exercised. Rental expense for lease payments is recognized on a straight-line basis over the lease term and is included in occupancy and equipment, net within our consolidated statements of operations.
Other Real Estate Owned	Other Real Estate Owned ​ Real estate acquired through foreclosure (“OREO”) is included in other assets within the consolidated balance sheets and is carried at management’s estimate of fair value, less estimated cost to sell. Any excess of recorded investment over fair value, less cost to sell, is charged against the allowance for credit losses when property is initially transferred to OREO. Subsequent to the initial transfer to OREO, downward valuation adjustments are charged against earnings. Valuation adjustments, revenue and expenses from operations of the properties and resulting gains or losses on sale are included within the consolidated statements of operations in other noninterest income or expense, as appropriate. ​
Debt Issuance Costs	Debt Issuance Costs ​ The Company capitalizes debt issuance costs associated with financing of debt. These costs are amortized using the effective interest method over the repayment term of the debt. Unamortized debt issuance costs are presented in the consolidated balance sheets as a direct reduction from the associated debt liability. Debt issuance costs of $0.3 million, $0.2 million and $0.2 million during 2020, 2019 and 2018, respectively, were amortized and included in interest expense within the consolidated statements of operations. In May 2020 and April 2015, debt issuance costs of $3.2 million and $1.9 million, respectively, were capitalized in connection with Hilltop’s issuance of the Subordinated Notes due 2030 and 2035 (defined hereafter) and the 5% senior notes due 2025 (defined hereafter), respectively.
Goodwill	Goodwill ​ Goodwill, which represents the excess of cost over the fair value of the net assets acquired, is allocated to reporting units and tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount should be assessed. The Company performs required annual impairment tests of its goodwill as of October 1 st impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, any loss recognized will not exceed the total amount of goodwill allocated to that reporting unit.
Intangibles and Other Long-Lived Assets	Intangibles and Other Long-Lived Assets ​ Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. The Company’s intangible assets primarily consist of core deposits, trade names and customer relationships. Intangible assets with definite useful lives are generally amortized on the straight-line method over their estimated lives, although certain intangibles, including core deposits, and customer relationships, are amortized on an accelerated basis. Amortization of intangible assets is recorded in other noninterest expense within the consolidated statements of operations. Intangible assets with indefinite useful lives are tested for impairment on an annual basis as of October 1 st
Mortgage Servicing Rights	Mortgage Servicing Rights ​ The Company determines its portfolio segment of residential mortgage servicing assets based on the asset type being serviced along with the methods used to manage the risk inherent in the servicing assets, which includes the market inputs used to value the servicing assets. The Company measures its servicing assets at fair value and reports changes in fair value through earnings. ​ The retained mortgage servicing rights (“MSR”) asset is measured at fair value as of the date of sale of the related mortgage loan. Subsequent fair value measurements of the MSR asset are determined by valuing the projected net servicing cash flows, which are then discounted to estimate fair value using a discounted cash flow model. Assumptions used include market discount rates, anticipated prepayment speeds, delinquency and foreclosure rates, and ancillary fee income. ​ The model assumptions and the MSR asset fair value estimates are compared to observable trades of similar portfolios as well as to MSR asset broker valuations and industry surveys, as available. The expected life of the loan can vary from management’s estimates due to prepayments by borrowers. The value of the MSR asset is also dependent upon the discount rate used in the model, which is based on current market rates that are reviewed by management on an ongoing basis. ​
Derivative Financial Instruments	Derivative Financial Instruments ​ The Company enters into various derivative financial instruments to manage interest rate risk or to hedge specified assets and liabilities. The Company’s derivative financial instruments also include interest rate lock commitments (“IRLCs”) executed with its customers that allow those customers to obtain a mortgage loan on a future date at an agreed-upon interest rate. The IRLCs, forward commitments, interest rate swaps, U.S. Treasury bond futures and options and Eurodollar futures meet the definition of a derivative under the provisions of the Derivatives and Hedging Topic of the ASC. ​ Derivatives are recorded at fair value in the consolidated balance sheets. To qualify for hedge accounting, derivatives must be highly effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the derivative contract. If derivative instruments are designated as hedges of fair values, the change in the fair value of both the derivative instrument and the hedged item are included in current earnings. Changes in the fair value of derivatives designated as hedges of cash flows are recorded in other comprehensive income (loss). Actual cash receipts and/or payments and related accruals on derivatives related to hedges are recorded as adjustments to the line item where the hedged item’s effect on earnings is recorded.
Revenue from Contracts with Customers	Revenue from Contracts with Customers ​ Certain activities primarily within the Company’s broker-dealer and banking segments are subject to the provisions of ASC 606, Revenue from Contracts with Customers ​ The Company’s banking segment has three primary lines of business: (i) business banking, (ii) personal banking and (iii) wealth and investment management. Revenue from contracts with customers subject to the guidance in ASC 606 from the banking segment (certain retail and trust fees) is included within the other noninterest income line item within the consolidated statements of operations. Retail and trust fees are generally recognized at the time the related transaction occurs or when services are completed. Fees are based on the dollar amount of the transaction or are otherwise predefined in contracts associated with each customer account depending on the type of account and services provided.
Loss Contingencies	Loss Contingencies ​ Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated.
Stock-Based Compensation	Stock-Based Compensation ​ Stock-based compensation expense for all share-based awards granted is based on the grant date fair value estimated in accordance with the provisions of the Stock Compensation Topic of the ASC. The Company recognizes these compensation costs for only those awards expected to vest over the service period of the award.
Income Taxes	​ Income Taxes ​ Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recorded for the estimated future tax effects of the temporary difference between the tax basis and book basis of assets and liabilities reported in the accompanying consolidated balance sheets. The provision for income tax expense or benefit differs from the amounts of income taxes currently payable because certain items of income and expense included in the consolidated financial statements are recognized in different time periods by taxing authorities. Interest and penalties incurred related to tax matters are charged to other interest expense or other noninterest expense, respectively. The revaluation of deferred tax assets as a result of enacted tax rate changes, such as those found in the Tax Cuts and Jobs Act of 2017 (“Tax Legislation”), is recognized within income tax expense in continuing operations in the period of enactment. ​ Benefits from uncertain tax positions are recognized in the consolidated financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority having full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of cumulative benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold are recognized in the reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold are derecognized in the reporting period in which that threshold is no longer met. If the Company were to prevail on all uncertain tax positions, the effect would be a benefit to the Company’s effective tax rate. Due to uncertainties in any tax audit outcome, estimates of the ultimate settlement of unrecognized tax positions may change and the actual tax benefits may differ significantly from the estimate. ​ Deferred tax assets, including net operating loss and tax credit carry forwards, are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that any portion of these tax attributes will not be realized. Periodic reviews of the carrying amount of deferred tax assets are made when it is more likely than not that all or a portion of a deferred tax asset will not be realized.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash ​ For the purpose of presentation in the consolidated statements of cash flows, cash, cash equivalents and restricted cash are defined as the amounts included in the consolidated balance sheet captions “Cash and due from banks”, “Federal funds sold” and “Assets segregated for regulatory purposes.” Cash equivalents have original maturities of three months or less.
Repurchases of Common Stock	Repurchases of Common Stock ​ In accordance with Maryland law, the Company uses the par value method of accounting for its stock repurchases, whereby the par value of the shares is deducted from common stock. The excess of the cost of shares acquired over the par value is allocated to additional paid-in capital based on an estimated average sales price per issued share with the excess amounts charged to retained earnings.
Basic and Diluted Net Income Per Share	Basic and Diluted Net Income Per Share ​ Nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are participating securities and are included in the computation of earnings per share pursuant to the two-class method prescribed by the Earnings Per Share Topic of the ASC. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. ​ Net earnings, less any preferred dividends accumulated for the period (whether or not declared), is allocated between the common stock and participating securities pursuant to the two-class method. Basic earnings per common share is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during the period, excluding participating nonvested restricted shares. The Company calculated basic earnings per common share using the treasury method instead of the two-class method because there were no instruments which qualified as participating securities during 2020, 2019 or 2018. ​ 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 2020, 2019 and 2018, restricted stock units (“RSUs”) were the only potentially dilutive non-participating instruments issued by Hilltop. Next, the Company determines and includes in the diluted earnings per common share calculation the more dilutive effect of the participating securities using the treasury stock method or the two-class method. Undistributed losses are not allocated to the nonvested share-based payment awards (the participating securities) under the two-class method as the holders are not contractually obligated to share in the losses of the Company.

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Discontinued Operations
Schedule of discontinued operations	​ ​ ​ ​ ​ 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 ​ 2018 Interest income: ​ ​ ​ ​ ​ ​ ​ ​ Securities: ​ ​ ​ ​ ​ ​ ​ ​ Taxable $ 1,752 ​ $ 3,611 ​ $ 4,310 Other ​ 71 ​ ​ 522 ​ ​ 495 Total interest income ​ 1,823 ​ ​ 4,133 ​ ​ 4,805 ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ ​ ​ ​ ​ Notes payable ​ 775 ​ ​ 1,806 ​ ​ 1,780 ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income: ​ ​ ​ ​ ​ ​ ​ ​ Net insurance premiums earned ​ 65,077 ​ ​ 132,284 ​ ​ 136,751 Other ​ 3,051 ​ ​ 10,915 ​ ​ 5,909 Total noninterest income ​ 68,128 ​ ​ 143,199 ​ ​ 142,660 ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest expense: ​ ​ ​ ​ ​ ​ ​ ​ Employees' compensation and benefits ​ 6,002 ​ ​ 11,663 ​ ​ 11,474 Occupancy and equipment, net ​ 464 ​ ​ 991 ​ ​ 1,284 Professional services ​ 18,201 ​ ​ 35,528 ​ ​ 35,953 Loss and loss adjustment expenses ​ 38,419 ​ ​ 68,940 ​ ​ 79,347 Other ​ 3,987 ​ ​ 10,796 ​ ​ 11,863 Total noninterest expense ​ 67,073 ​ ​ 127,918 ​ ​ 139,921 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from discontinued operations before income taxes ​ 2,103 ​ ​ 17,608 ​ ​ 5,764 Gain on disposal of discontinued operations ​ 36,811 ​ ​ — ​ ​ — Income tax expense ​ 518 ​ ​ 3,618 ​ ​ 823 Income from discontinued operations, net of income taxes $ 38,396 ​ $ 13,990 ​ $ 4,941
Schedule of effects of reinsurance on premiums written and earned included within discontinued operations	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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 ​ 2018 ​ Written Earned Written Earned Written Earned Premiums from direct business ​ ​ $ 63,811 ​ $ 61,384 ​ $ 125,157 ​ $ 126,434 ​ $ 129,611 ​ $ 133,112 Reinsurance assumed ​ ​ 6,396 ​ 6,452 ​ 13,148 ​ 13,041 ​ 12,917 ​ 12,516 Reinsurance ceded ​ ​ (2,759) ​ (2,759) ​ (7,191) ​ (7,191) ​ (8,749) ​ (8,877) Net premiums ​ ​ $ 67,448 ​ $ 65,077 ​ $ 131,114 ​ $ 132,284 ​ $ 133,779 ​ $ 136,751
Schedule of effects of reinsurance on incurred losses included within discontinued operations	The effects of reinsurance on incurred losses and LAE are included within discontinued operations for all periods and are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Losses and LAE incurred ​ ​ $ 38,225 ​ $ 68,130 ​ $ 76,464 Reinsurance recoverables ​ ​ 194 ​ 810 ​ 2,883 Net loss and LAE incurred ​ ​ $ 38,419 ​ $ 68,940 ​ $ 79,347
Schedule of activity in deferred policy acquisition costs included within discontinued operations	A summary of the activity in deferred policy acquisition costs included within discontinued operations for all periods is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 ​ 2018 Balance, beginning of year ​ $ 15,672 ​ $ 16,633 ​ $ 16,988 Acquisition expenses capitalized ​ 17,642 ​ 32,245 ​ 34,328 Amortization charged to income ​ (16,967) ​ (33,206) ​ (34,683) Balance, end of year ​ $ 16,347 ​ $ 15,672 ​ $ 16,633

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Dec. 31, 2020
Acquisition
Summary of fair values of the identifiable assets acquired, and liabilities assumed	​ ​ ​ ​ ​ ​ Cash and due from banks $ 21,756 ​ Securities ​ 60,477 ​ Loans held for investment ​ 326,618 ​ Other assets ​ 25,912 ​ Total identifiable assets acquired ​ 434,763 ​ ​ ​ ​ ​ ​ Deposits ​ 376,393 ​ Short-term borrowings ​ 10,000 ​ Other liabilities ​ 2,996 ​ Total liabilities assumed ​ 389,389 ​ ​ ​ ​ ​ Net identifiable assets acquired ​ ​ 45,374 ​ Goodwill resulting from the acquisition ​ 39,627 ​ Net assets acquired ​ $ 85,001 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Measurements
Schedule of information regarding financial assets and liabilities measured at fair value on a recurring basis	The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total December 31, 2020 ​ Inputs ​ Inputs ​ Inputs ​ Fair Value Trading securities ​ $ 45,390 ​ $ 648,865 ​ $ — ​ $ 694,255 ​ Available for sale securities ​ ​ — ​ ​ 1,462,205 ​ ​ — ​ ​ 1,462,205 ​ Equity securities ​ ​ 140 ​ ​ — ​ ​ — ​ ​ 140 ​ Loans held for sale ​ ​ — ​ ​ 2,449,588 ​ ​ 71,816 ​ ​ 2,521,404 ​ Derivative assets ​ ​ — ​ ​ 126,898 ​ ​ — ​ ​ 126,898 ​ MSR asset ​ ​ — ​ ​ — ​ ​ 143,742 ​ ​ 143,742 ​ Securities sold, not yet purchased ​ ​ 54,494 ​ ​ 25,295 ​ ​ — ​ ​ 79,789 ​ Derivative liabilities ​ ​ — ​ ​ 74,598 ​ ​ — ​ ​ 74,598 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 table includes a rollforward for those financial instruments measured at fair value using Level 3 inputs (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Gains or Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Realized or Unrealized) ​ ​ ​ ​ Balance at ​ ​ ​ ​ Included in Other ​ ​ ​ Beginning of ​ Purchases/ ​ Sales/ ​ Transfers into ​ Included in ​ Comprehensive ​ Balance at ​ ​ Year ​ Additions ​ Reductions ​ Level 3 ​ Net Income ​ Income (Loss) ​ End of Year Year ended December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 67,195 ​ $ 61,410 ​ $ (57,682) ​ $ 10,323 ​ $ (9,430) ​ $ — ​ $ 71,816 ​ MSR asset ​ ​ 55,504 ​ ​ 162,914 ​ ​ (36,750) ​ ​ — ​ ​ (37,926) ​ ​ — ​ ​ 143,742 ​ Total ​ $ 122,699 ​ $ 224,324 ​ $ (94,432) ​ $ 10,323 ​ $ (47,356) ​ $ — ​ $ 215,558 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 50,464 ​ $ 60,475 ​ $ (34,849) ​ $ 1,136 ​ $ (10,031) ​ $ — ​ $ 67,195 ​ MSR asset ​ ​ 66,102 ​ ​ 13,755 ​ ​ — ​ ​ — ​ ​ (24,353) ​ ​ — ​ ​ 55,504 ​ Total ​ $ 116,566 ​ $ 74,230 ​ $ (34,849) ​ $ 1,136 ​ $ (34,384) ​ $ — ​ $ 122,699 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ $ 36,972 ​ $ 61,573 ​ $ (41,801) ​ $ — ​ $ (6,280) ​ $ — ​ $ 50,464 ​ MSR asset ​ ​ 54,714 ​ ​ 25,028 ​ ​ (9,303) ​ ​ — ​ ​ (4,337) ​ ​ — ​ ​ 66,102 ​ Total ​ $ 91,686 ​ $ 86,601 ​ $ (51,104) ​ $ — ​ $ (10,617) ​ $ — ​ $ 116,566 ​
Schedule of significant unobservable inputs used in the fair value measurements	For Level 3 financial instruments measured at fair value on a recurring basis at December 31, 2020 and 2019, the significant unobservable inputs used in the fair value measurements were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Range (Weighted-Average) ​ ​ ​ ​ ​ ​ December 31, Financial instrument Valuation Technique Unobservable Inputs 2020 ​ 2019 Loans ​ Market comparable ​ Projected price ​ 91 - 94 % ( 94 %) ​ 92 - 96 % ( 95 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MSR asset ​ Discounted cash flows ​ Constant prepayment rate ​ ​ ​ ​ 12.15 % ​ ​ ​ ​ ​ 13.16 % ​ ​ ​ ​ ​ Discount rate ​ ​ ​ ​ 14.60 % ​ ​ ​ ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Year Ended December 31, 2019 ​ Year Ended December 31, 2018 ​ ​ Other Total ​ Other Total ​ Other Total ​ ​ Net ​ Noninterest ​ Changes in ​ Net ​ Noninterest ​ Changes in ​ Net ​ Noninterest ​ Changes in ​ ​ Gains (Losses) ​ Income ​ Fair Value ​ Gains (Losses) ​ Income ​ Fair Value ​ Gains (Losses) ​ Income ​ Fair Value Loans held for sale ​ $ 52,296 ​ $ — ​ $ 52,296 ​ $ 12,775 ​ $ — ​ $ 12,775 ​ $ (8,063) ​ $ — ​ $ (8,063) MSR asset ​ (37,926) ​ — ​ (37,926) ​ (24,353) ​ — ​ (24,353) ​ (4,337) ​ — ​ (4,337)
Schedule of carrying values and estimated fair values of financial instruments	​ The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ Carrying Level 1 Level 2 Level 3 ​ ​ December 31, 2020 ​ Amount ​ Inputs ​ Inputs ​ Inputs ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,062,946 ​ $ 1,062,946 ​ $ — ​ $ — ​ $ 1,062,946 ​ Assets segregated for regulatory purposes ​ ​ 290,357 ​ ​ 290,357 ​ ​ — ​ ​ — ​ ​ 290,357 ​ Securities purchased under agreements to resell ​ ​ 80,319 ​ ​ — ​ ​ 80,319 ​ ​ — ​ ​ 80,319 ​ Held to maturity securities ​ ​ 311,944 ​ ​ — ​ ​ 326,671 ​ ​ — ​ ​ 326,671 ​ Loans held for sale ​ ​ 266,982 ​ ​ — ​ ​ 266,982 ​ ​ — ​ ​ 266,982 ​ Loans held for investment, net ​ ​ 7,544,097 ​ ​ — ​ ​ 437,007 ​ ​ 7,351,411 ​ ​ 7,788,418 ​ Broker-dealer and clearing organization receivables ​ 1,404,727 ​ — ​ 1,404,727 ​ — ​ 1,404,727 ​ Other assets ​ 74,881 ​ — ​ 73,111 ​ 1,770 ​ 74,881 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 11,242,319 ​ — ​ 11,256,629 ​ — ​ 11,256,629 ​ Broker-dealer and clearing organization payables ​ 1,368,373 ​ — ​ 1,368,373 ​ — ​ 1,368,373 ​ Short-term borrowings ​ 695,798 ​ — ​ 695,798 ​ — ​ 695,798 ​ Debt ​ 448,999 ​ — ​ 448,999 ​ — ​ 448,999 ​ Other liabilities ​ 6,133 ​ — ​ 6,133 ​ — ​ 6,133 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2020 2019 Balance, beginning of year ​ $ 19,771 $ 20,376 Additional investments ​ ​ ​ 500 ​ ​ — Upward adjustments ​ ​ ​ 4,188 ​ ​ 403 Impairments and downward adjustments ​ ​ ​ (1,615) ​ ​ (1,008) Dispositions ​ ​ — ​ — Balance, end of year ​ ​ $ 22,844 ​ $ 19,771

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Securities
Summary of trading securities	The fair value of trading securities are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2020 2019 U.S. Treasury securities $ 40,491 $ — U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ ​ 40 ​ ​ 24,680 ​ ​ Residential mortgage-backed securities ​ 336,081 ​ 331,601 ​ ​ Commercial mortgage-backed securities ​ 876 ​ 2,145 ​ ​ Collateralized mortgage obligations ​ ​ 69,172 ​ ​ 191,154 ​ ​ Corporate debt securities ​ ​ 62,481 ​ ​ 36,973 ​ ​ States and political subdivisions ​ ​ 171,573 ​ ​ 93,117 ​ ​ Unit investment trusts ​ ​ — ​ ​ 3,468 ​ ​ Private-label securitized product ​ ​ 8,571 ​ ​ 2,992 ​ ​ Other ​ ​ 4,970 ​ ​ 3,446 ​ ​ Totals ​ $ 694,255 ​ $ 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 ​ ​ ​ December 31, 2020 ​ Cost ​ Gains ​ Losses ​ Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds ​ $ 82,036 ​ $ 1,095 ​ $ (325) ​ $ 82,806 ​ Residential mortgage-backed securities ​ 624,863 ​ 17,194 ​ (446) ​ 641,611 ​ Commercial mortgage-backed securities ​ ​ 124,929 ​ 768 ​ (1,159) ​ 124,538 ​ Collateralized mortgage obligations ​ 559,362 ​ 6,916 ​ (370) ​ 565,908 ​ States and political subdivisions ​ 44,729 ​ 2,613 ​ — ​ 47,342 ​ Totals ​ $ 1,435,919 ​ $ 28,586 ​ $ (2,300) ​ $ 1,462,205 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ December 31, 2020 Cost Gains Losses Fair Value U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 13,547 ​ $ 708 ​ $ — ​ $ 14,255 Commercial mortgage-backed securities ​ ​ 152,820 ​ 9,205 ​ — ​ 162,025 Collateralized mortgage obligations ​ 74,932 ​ 2,036 ​ — ​ 76,968 States and political subdivisions ​ 70,645 ​ 2,778 ​ — ​ 73,423 Totals ​ $ 311,944 ​ $ 14,727 ​ $ — ​ $ 326,671 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, held to maturity and equity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Number of ​ ​ Unrealized Number of ​ ​ Unrealized ​ ​ Securities ​ Fair Value ​ Losses ​ Securities ​ Fair Value ​ Losses Available for Sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 8 ​ $ 60,298 ​ $ 325 2 ​ $ 24,937 ​ $ 64 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 8 ​ ​ 60,298 ​ ​ 325 2 ​ 24,937 ​ 64 ​ Residential mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 15 ​ 86,287 ​ 429 37 ​ 36,187 ​ 87 ​ Unrealized loss for twelve months or longer — ​ — ​ — 2 ​ 13,683 ​ 58 ​ ​ 15 ​ ​ 86,287 ​ ​ 429 39 ​ 49,870 ​ 145 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 10 ​ 105,386 ​ 1,176 1 ​ 9,967 ​ 2 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ 10 ​ ​ 105,386 ​ ​ 1,176 1 ​ 9,967 ​ 2 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 10 ​ 101,990 ​ 324 15 ​ 94,545 ​ 446 ​ Unrealized loss for twelve months or longer 5 ​ 13,611 ​ 46 13 ​ 46,217 ​ 369 ​ ​ 15 ​ ​ 115,601 ​ ​ 370 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 43 ​ 353,961 ​ 2,254 55 ​ 165,636 ​ 599 ​ Unrealized loss for twelve months or longer 5 ​ 13,611 ​ 46 16 ​ 60,387 ​ 427 ​ ​ 48 ​ $ 367,572 ​ $ 2,300 71 ​ $ 226,023 ​ $ 1,026 ​
Schedule of held-to-maturity and equity securities continuous unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Number of ​ ​ Unrealized Number of ​ ​ Unrealized ​ ​ Securities ​ Fair Value ​ Losses ​ Securities ​ Fair Value ​ Losses Held to Maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bonds: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ $ — ​ $ — 2 ​ $ 9,665 ​ $ 35 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 2 ​ 9,665 ​ 35 ​ Commercial mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Unrealized loss for twelve months or longer — ​ — ​ — — ​ — ​ — ​ ​ — ​ — ​ — 8 ​ 44,610 ​ 656 ​ Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months — ​ — ​ — 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 2 ​ 578 ​ — 38 ​ 15,996 ​ 124 ​ Unrealized loss for twelve months or longer — ​ — ​ — 4 ​ 1,099 ​ 31 ​ ​ 2 ​ 578 ​ — 42 ​ 17,095 ​ 155 ​ Total held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss for less than twelve months 2 ​ 578 ​ — 52 ​ 94,175 ​ 1,102 ​ Unrealized loss for twelve months or longer — ​ — ​ — 12 ​ 60,659 ​ 648 ​ ​ 2 ​ $ 578 ​ $ — 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 December 31, 2020 are shown by contractual maturity below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ ​ Amortized ​ ​ Amortized ​ ​ ​ ​ Cost ​ Fair Value Cost ​ Fair Value Due in one year or less ​ $ 4,999 ​ $ 5,072 ​ $ 645 ​ $ 646 ​ Due after one year through five years ​ 61,182 ​ 62,636 ​ 1,225 ​ 1,273 ​ Due after five years through ten years ​ 17,537 ​ 18,179 ​ 8,205 ​ 8,525 ​ Due after ten years ​ 43,047 ​ 44,261 ​ 60,570 ​ 62,979 ​ ​ ​ 126,765 ​ 130,148 ​ 70,645 ​ 73,423 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ 624,863 ​ 641,611 ​ 13,547 ​ 14,255 ​ Collateralized mortgage obligations ​ 559,362 ​ 565,908 ​ 74,932 ​ 76,968 ​ Commercial mortgage-backed securities ​ 124,929 ​ 124,538 ​ 152,820 ​ 162,025 ​ ​ ​ $ 1,435,919 ​ $ 1,462,205 ​ $ 311,944 ​ $ 326,671 ​

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	12 Months Ended
	Dec. 31, 2020
Loans Held for Investment
Summary of loans held for investment by portfolio segment	Loans held for investment summarized by portfolio segment are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 2019 ​ Commercial real estate ​ $ 3,133,903 ​ $ 3,000,523 ​ Commercial and industrial (1) ​ 2,627,774 ​ ​ 2,025,720 ​ Construction and land development ​ 828,852 ​ ​ 940,564 ​ 1-4 family residential ​ ​ 629,938 ​ ​ 791,020 ​ Consumer ​ ​ 35,667 ​ ​ 47,046 ​ Broker-dealer (2) ​ ​ 437,007 ​ ​ 576,527 ​ ​ ​ 7,693,141 ​ 7,381,400 ​ Allowance for credit losses ​ (149,044) ​ ​ (61,136) ​ Total loans held for investment, net of allowance ​ $ 7,544,097 ​ $ 7,320,264 ​ (1) Included loans totaling $486.7 million at December 31, 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 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual Loans ​ Interest Income ​ ​ December 31, 2020 ​ ​ ​ ​ Recognized (1) ​ ​ With ​ With No ​ ​ ​ ​ December 31, ​ Year Ended ​ Allowance Allowance Total ​ 2019 ​ December 31, 2020 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 1,213 ​ $ 445 ​ $ 1,658 ​ $ 3,813 ​ $ 1,364 Owner occupied ​ 3,473 ​ ​ 6,002 ​ ​ 9,475 ​ ​ 3,495 ​ ​ 295 Commercial and industrial ​ ​ 10,821 ​ ​ 23,228 ​ ​ 34,049 ​ ​ 15,262 ​ ​ 2,362 Construction and land development ​ 102 ​ ​ 405 ​ ​ 507 ​ ​ 1,316 ​ ​ 110 1-4 family residential ​ 4,726 ​ ​ 16,651 ​ ​ 21,377 ​ ​ 7,382 ​ ​ 1,568 Consumer ​ 28 ​ ​ — ​ ​ 28 ​ ​ 26 ​ ​ 122 Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 20,363 ​ $ 46,731 ​ $ 67,094 ​ $ 31,294 ​ $ 5,821 (1)
Schedule of information regarding TDRs granted	Information regarding TDRs granted during 2020 and 2019 that do not qualify for the CARES Act exemption is shown in the following table (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Year Ended December 31, 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 ​ ​ 3 ​ ​ 9,464 ​ ​ 4,116 ​ 4 ​ ​ 9,618 ​ ​ 8,566 Construction and land development ​ ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — 1-4 family residential ​ ​ 5 ​ ​ 438 ​ ​ 438 ​ — ​ ​ — ​ ​ — Consumer ​ ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — Broker-dealer ​ ​ — ​ ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ ​ 8 $ 9,902 $ 4,554 4 $ 9,618 $ 8,566 ​
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 December 31, 2020 ​ 30-59 Days ​ 60-89 Days ​ 90 Days or More ​ Past Due Loans ​ Loans ​ Loans ​ 90 Days or More Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-owner occupied ​ $ 1,919 ​ $ — ​ $ 199 ​ $ 2,118 ​ $ 1,786,193 ​ $ 1,788,311 ​ $ — ​ Owner occupied ​ 195 ​ ​ 522 ​ ​ 8,328 ​ ​ 9,045 ​ ​ 1,336,547 ​ ​ 1,345,592 ​ ​ — ​ Commercial and industrial ​ ​ 3,114 ​ ​ 407 ​ ​ 7,318 ​ ​ 10,839 ​ ​ 2,616,935 ​ ​ 2,627,774 ​ ​ 6 ​ Construction and land development ​ 19 ​ ​ — ​ ​ — ​ ​ 19 ​ ​ 828,833 ​ ​ 828,852 ​ ​ — ​ 1-4 family residential ​ 8,110 ​ ​ 3,040 ​ ​ 12,420 ​ ​ 23,570 ​ ​ 606,368 ​ ​ 629,938 ​ ​ — ​ Consumer ​ 172 ​ ​ 123 ​ ​ 26 ​ ​ 321 ​ ​ 35,346 ​ ​ 35,667 ​ ​ — ​ Broker-dealer ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 437,007 ​ ​ 437,007 ​ ​ — ​ ​ ​ $ 13,529 ​ $ 4,092 ​ $ 28,291 ​ $ 45,912 ​ $ 7,647,229 ​ $ 7,693,141 ​ $ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ December 31, 2020 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ ​ Prior ​ Revolving ​ Total Commercial real estate: non-owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 21,135 ​ $ 22,913 ​ $ 3,171 ​ $ 2,735 ​ $ 12,896 ​ $ 15,263 ​ $ 1 ​ $ 78,114 Internal Grade 4-7 (Pass normal risk) ​ ​ 245,833 ​ ​ 138,836 ​ ​ 83,951 ​ ​ 88,119 ​ ​ 108,371 ​ ​ 64,200 ​ ​ 47,920 ​ ​ 777,230 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 227,440 ​ ​ 133,246 ​ ​ 122,022 ​ ​ 99,473 ​ ​ 108,536 ​ ​ 64,031 ​ ​ 488 ​ ​ 755,236 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 34,020 ​ ​ 16,139 ​ ​ 29,166 ​ ​ 29,810 ​ ​ 33,353 ​ ​ 33,467 ​ ​ 118 ​ ​ 176,073 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,658 ​ ​ — ​ ​ 1,658 Commercial real estate: owner occupied ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 60,809 ​ $ 21,011 ​ $ 12,712 ​ $ 44,163 ​ $ 21,567 ​ $ 37,688 ​ $ 1 ​ $ 197,951 Internal Grade 4-7 (Pass normal risk) ​ ​ 164,939 ​ ​ 169,582 ​ ​ 131,821 ​ ​ 56,801 ​ ​ 53,811 ​ ​ 75,372 ​ ​ 39,868 ​ ​ 692,194 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 118,328 ​ ​ 80,375 ​ ​ 49,601 ​ ​ 23,588 ​ ​ 23,330 ​ ​ 30,249 ​ ​ 1,291 ​ ​ 326,762 Internal Grade 12 (Special mention) ​ ​ 365 ​ ​ — ​ ​ 3,691 ​ ​ — ​ ​ — ​ ​ 527 ​ ​ — ​ ​ 4,583 Internal Grade 13 (Substandard accrual) ​ ​ 8,372 ​ ​ 5,620 ​ ​ 69,617 ​ ​ 10,315 ​ ​ 8,663 ​ ​ 12,040 ​ ​ — ​ ​ 114,627 Internal Grade 14 (Substandard non-accrual) ​ ​ 506 ​ ​ 1,259 ​ ​ 441 ​ ​ 5,345 ​ ​ 1,045 ​ ​ 879 ​ ​ — ​ ​ 9,475 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 30,754 ​ $ 27,144 ​ $ 7,149 ​ $ 5,486 ​ $ 3,587 ​ $ 335 ​ $ 21,651 ​ $ 96,106 Internal Grade 4-7 (Pass normal risk) ​ ​ 179,394 ​ ​ 54,423 ​ ​ 53,908 ​ ​ 29,778 ​ ​ 24,179 ​ ​ 10,945 ​ ​ 395,320 ​ ​ 747,947 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 95,835 ​ ​ 62,411 ​ ​ 20,162 ​ ​ 13,459 ​ ​ 13,885 ​ ​ 2,144 ​ ​ 197,273 ​ ​ 405,169 Internal Grade 12 (Special mention) ​ ​ 757 ​ ​ 14 ​ ​ 3,723 ​ ​ — ​ ​ 152 ​ ​ — ​ ​ 2,093 ​ ​ 6,739 Internal Grade 13 (Substandard accrual) ​ ​ 9,863 ​ ​ 3,689 ​ ​ 13,788 ​ ​ 5,531 ​ ​ 5,759 ​ ​ 253 ​ ​ 19,360 ​ ​ 58,243 Internal Grade 14 (Substandard non-accrual) ​ ​ 25,107 ​ ​ 5,084 ​ ​ 2,021 ​ ​ 315 ​ ​ 16 ​ ​ 98 ​ ​ 1,408 ​ ​ 34,049 Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internal Grade 1-3 (Pass low risk) ​ $ 15,764 ​ $ 2,710 ​ $ 4,176 ​ $ 264 ​ $ 4,129 ​ $ 331 ​ $ 624 ​ $ 27,998 Internal Grade 4-7 (Pass normal risk) ​ ​ 202,624 ​ ​ 103,864 ​ ​ 63,135 ​ ​ 3,210 ​ ​ 2,596 ​ ​ 3,142 ​ ​ 28,387 ​ ​ 406,958 Internal Grade 8-11 (Pass high risk and watch) ​ ​ 194,432 ​ ​ 97,206 ​ ​ 47,102 ​ ​ 9,659 ​ ​ 3,552 ​ ​ 544 ​ ​ 7,951 ​ ​ 360,446 Internal Grade 12 (Special mention) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Internal Grade 13 (Substandard accrual) ​ ​ 8,684 ​ ​ 29 ​ ​ — ​ ​ 5,385 ​ ​ — ​ ​ 65 ​ ​ — ​ ​ 14,163 Internal Grade 14 (Substandard non-accrual) ​ ​ — ​ ​ 405 ​ ​ — ​ ​ — ​ ​ — ​ ​ 102 ​ ​ — ​ ​ 507 Construction and land development - individuals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — FICO between 620 and 720 ​ ​ 557 ​ ​ — ​ ​ 1,253 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,810 FICO greater than 720 ​ ​ 13,207 ​ ​ — ​ ​ 2,539 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 15,746 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other (1) ​ ​ 1,224 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,224 1-4 family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 1,109 ​ $ 819 ​ $ 3,674 ​ $ 56 ​ $ 883 ​ $ 32,077 ​ $ 318 ​ $ 38,936 FICO between 620 and 720 ​ ​ 17,269 ​ ​ 18,461 ​ ​ 9,545 ​ ​ 8,714 ​ ​ 8,171 ​ ​ 41,625 ​ ​ 1,289 ​ ​ 105,074 FICO greater than 720 ​ ​ 125,094 ​ ​ 80,688 ​ ​ 65,975 ​ ​ 37,943 ​ ​ 29,171 ​ ​ 70,815 ​ ​ 5,313 ​ ​ 414,999 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 96 ​ ​ 714 ​ ​ 20,567 ​ ​ — ​ ​ 21,377 Other (1) ​ ​ 27,407 ​ ​ 10,085 ​ ​ 5,998 ​ ​ 1,899 ​ ​ 920 ​ ​ 2,529 ​ ​ 714 ​ ​ 49,552 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO less than 620 ​ $ 955 ​ $ 1,235 ​ $ 106 ​ $ 128 ​ $ 43 ​ $ 22 ​ $ 334 ​ $ 2,823 FICO between 620 and 720 ​ ​ 5,194 ​ ​ 2,627 ​ ​ 478 ​ ​ 536 ​ ​ 118 ​ ​ 79 ​ ​ 2,157 ​ ​ 11,189 FICO greater than 720 ​ ​ 6,849 ​ ​ 1,674 ​ ​ 2,952 ​ ​ 292 ​ ​ 60 ​ ​ 34 ​ ​ 3,054 ​ ​ 14,915 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ — ​ ​ 27 ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 28 Other (1) ​ ​ 5,050 ​ ​ 1,141 ​ ​ 129 ​ ​ 43 ​ ​ 36 ​ ​ — ​ ​ 313 ​ ​ 6,712 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans with credit quality measures ​ $ 1,848,876 ​ $ 1,062,690 ​ $ 814,006 ​ $ 483,170 ​ $ 469,543 ​ $ 521,082 ​ $ 777,246 ​ $ 5,976,613 Commercial and industrial (mortgage warehouse lending) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 792,806 Commercial and industrial (Paycheck Protection Program loans) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 486,715 Broker-Dealer (margin loans and correspondent receivables) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 437,007 Total loans held for investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,693,141 (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 (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2020
Allowance for Credit Losses
Schedule of changes in the allowance for loan losses by portfolio segment	Changes in the allowance for credit losses for loans held for investments, distributed by portfolio segment, are shown below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on ​ ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ ​ Balance, Year Ended December 31, 2020 ​ Year ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ ​ End of Year Commercial real estate ​ $ 31,595 ​ $ 8,073 ​ $ 73,865 ​ $ (4,517) ​ $ 613 ​ $ 109,629 ​ Commercial and industrial ​ 17,964 ​ ​ 3,193 ​ ​ 22,870 ​ ​ (18,158) ​ ​ 1,834 ​ 27,703 ​ Construction and land development ​ 4,878 ​ ​ 577 ​ ​ 1,222 ​ ​ (2) ​ ​ 2 ​ 6,677 ​ 1-4 family residential ​ 6,386 ​ ​ (29) ​ ​ (1,717) ​ ​ (748) ​ ​ 54 ​ 3,946 ​ Consumer ​ ​ 265 ​ ​ 748 ​ ​ 86 ​ ​ (615) ​ ​ 392 ​ ​ 876 ​ Broker-dealer ​ ​ 48 ​ ​ — ​ ​ 165 ​ ​ — ​ ​ — ​ ​ 213 ​ Total ​ $ 61,136 ​ $ 12,562 ​ $ 96,491 ​ $ (24,040) ​ $ 2,895 ​ $ 149,044 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on ​ ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ ​ Balance, Year Ended December 31, 2019 ​ Year ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ ​ End of Year Commercial real estate ​ $ 27,100 ​ $ — ​ $ 5,649 ​ $ (1,160) ​ $ 6 ​ $ 31,595 ​ Commercial and industrial ​ 21,980 ​ ​ — ​ ​ (921) ​ ​ (5,924) ​ ​ 2,829 ​ 17,964 ​ Construction and land development ​ 6,061 ​ ​ — ​ ​ (1,183) ​ ​ — ​ ​ — ​ 4,878 ​ 1-4 family residential ​ 3,956 ​ ​ — ​ ​ 3,276 ​ ​ (907) ​ ​ 61 ​ 6,386 ​ Consumer ​ ​ 267 ​ ​ — ​ ​ 459 ​ ​ (498) ​ ​ 37 ​ ​ 265 ​ Broker-dealer ​ ​ 122 ​ ​ — ​ ​ (74) ​ ​ — ​ ​ — ​ ​ 48 ​ Total ​ $ 59,486 ​ $ — ​ $ 7,206 ​ $ (8,489) ​ $ 2,933 ​ $ 61,136 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, Transition Provision for ​ Recoveries on ​ ​ ​ ​ Beginning of ​ Adjustment ​ (Reversal of) ​ Loans ​ Charged Off ​ ​ Balance, Year Ended December 31, 2018 ​ Year ​ CECL ​ Credit Losses ​ Charged Off ​ Loans ​ ​ End of Year Commercial real estate ​ $ 27,232 ​ $ — ​ $ 668 ​ $ (800) ​ $ — ​ $ 27,100 ​ Commercial and industrial ​ 23,698 ​ — ​ 6,750 ​ (12,741) ​ 4,273 ​ 21,980 ​ Construction and land development ​ 7,847 ​ — ​ (1,792) ​ — ​ 6 ​ 6,061 ​ 1-4 family residential ​ 4,245 ​ — ​ (292) ​ (143) ​ 146 ​ 3,956 ​ Consumer ​ ​ 311 ​ ​ — ​ ​ (15) ​ ​ (93) ​ ​ 64 ​ ​ 267 ​ Broker-dealer ​ ​ 353 ​ ​ — ​ ​ (231) ​ ​ — ​ ​ — ​ ​ 122 ​ Total ​ $ 63,686 ​ $ — ​ $ 5,088 ​ $ (13,777) ​ $ 4,489 ​ $ 59,486 ​ ​
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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2020 ​ 2019 2018 Balance, beginning of year ​ ​ $ 2,075 ​ $ 2,366 ​ $ 1,932 Transition adjustment CECL accounting standard ​ ​ ​ 3,837 ​ ​ — ​ ​ — Other noninterest expense ​ ​ ​ 2,476 ​ ​ (291) ​ ​ 434 Balance, end of year ​ ​ $ 8,388 ​ $ 2,075 ​ $ 2,366

Cash and Due from Banks (Tables

Cash and Due from Banks (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and Due from Banks
Schedule of cash and due from banks	Cash and due from banks consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Cash on hand ​ $ 45,207 ​ $ 39,590 Clearings and collection items ​ 82,396 ​ 129,055 Deposits at Federal Reserve Bank ​ 874,998 ​ 232,019 Deposits at Federal Home Loan Bank ​ 1,607 ​ 1,458 Deposits in FDIC-insured institutions ​ 58,352 ​ 31,504 ​ ​ $ 1,062,560 ​ $ 433,626

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Premises and Equipment
Summary of the components of premises and equipment	The components of premises and equipment are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Land and premises ​ $ 125,701 ​ $ 130,312 ​ Furniture and equipment ​ 257,810 ​ 265,602 ​ ​ ​ 383,511 ​ 395,914 ​ Less accumulated depreciation and amortization ​ (171,916) ​ (185,539) ​ ​ ​ $ 211,595 ​ $ 210,375 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Other Intangible Assets
Schedule of carrying value of intangible assets subject to amortization	The carrying value of intangible assets subject to amortization was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Gross ​ ​ Net ​ ​ Useful Life ​ Intangible ​ Accumulated ​ Intangible December 31, 2020 ​ (Years) ​ Assets ​ Amortization ​ Assets Core deposits 4 - 12 ​ $ 48,930 ​ $ (40,997) ​ $ 7,933 ​ Trademarks and trade names ​ 20 ​ ​ 16,500 ​ (7,563) ​ 8,937 ​ Noncompete agreements ​ 4 ​ ​ 4,310 ​ (4,310) ​ — ​ Customer contracts and relationships 12 - 14 ​ 15,300 ​ (11,806) ​ 3,494 ​ ​ ​ ​ ​ ​ ​ $ 85,040 ​ $ (64,676) ​ $ 20,364 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Gross ​ ​ Net ​ ​ Useful Life ​ Intangible ​ Accumulated ​ Intangible December 31, 2019 ​ (Years) ​ Assets ​ Amortization ​ Assets Core deposits 4 - 12 ​ $ 48,930 ​ $ (36,576) ​ $ 12,354 ​ Trademarks and trade names ​ 20 ​ ​ 16,500 ​ (6,812) ​ 9,688 ​ Noncompete agreements ​ 4 ​ ​ 4,310 ​ (4,310) ​ — ​ Customer contracts and relationships 12 - 14 ​ 15,300 ​ (10,676) ​ 4,624 ​ ​ ​ ​ ​ ​ ​ $ 85,040 ​ $ (58,374) ​ $ 26,666 ​
Schedule of estimated aggregate future amortization expense for intangible assets	The estimated aggregate future amortization expense for intangible assets at December 31, 2020 is as follows (in thousands). ​ ​ ​ ​ 2021 $ 5,080 2022 3,967 2023 2,860 2024 1,826 2025 1,028 Thereafter 5,603 ​ $ 20,364

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 ​ 2018 Balance, beginning of year $ 55,504 ​ $ 66,102 ​ $ 54,714 Additions 162,914 ​ 13,755 ​ 25,028 Sales (36,750) ​ — ​ (9,303) Changes in fair value: ​ ​ ​ ​ ​ ​ ​ ​ Due to changes in model inputs or assumptions (1) (27,261) ​ (16,054) ​ 159 Due to customer payoffs (10,665) ​ (8,299) ​ (4,496) Balance, end of year $ 143,742 ​ $ 55,504 ​ $ 66,102 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ Mortgage loans serviced for others (2) $ 14,643,623 ​ $ 4,948,441 ​ ​ ​ MSR asset as a percentage of serviced mortgage loans 0.98 % 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	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Weighted average constant prepayment rate 12.15 % ​ 13.16 % Weighted average discount rate 14.60 % ​ 11.14 % Weighted average life (in years) 6.3 ​ ​ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 2019 ​ Constant prepayment rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ $ (5,639) ​ $ (3,072) ​ Impact of 20% adverse change ​ (11,164) ​ (5,943) ​ Discount rate: ​ ​ ​ ​ ​ ​ ​ Impact of 10% adverse change ​ (6,435) ​ (2,094) ​ Impact of 20% adverse change ​ (12,287) ​ (4,028) ​

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 2019 ​ Noninterest-bearing demand ​ $ 3,612,384 ​ $ 2,769,556 ​ Interest-bearing: ​ ​ ​ ​ ​ ​ ​ Demand accounts ​ 2,399,341 ​ 1,881,614 ​ Brokered - demand ​ 282,426 ​ — ​ Money market ​ 2,716,878 ​ 2,641,116 ​ Brokered - money market ​ 124,243 ​ 5,000 ​ Savings ​ 276,327 ​ 199,076 ​ Time ​ 1,506,435 ​ 1,505,375 ​ Brokered - time ​ 324,285 ​ 30,477 ​ ​ ​ $ 11,242,319 ​ $ 9,032,214 ​
Summary of scheduled maturities of interest-bearing time deposits	Scheduled maturities of interest-bearing time deposits at December 31, 2020 are as follows (in thousands). ​ ​ ​ ​ ​ ​ 2021 $ 1,600,039 ​ 2022 ​ 148,404 ​ 2023 ​ 49,026 ​ 2024 ​ 22,091 ​ 2025 and thereafter ​ 11,160 ​ ​ ​ $ 1,830,720 ​

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Federal funds purchased ​ $ 180,325 ​ $ 81,625 ​ Securities sold under agreements to repurchase ​ 237,856 ​ 612,125 ​ Federal Home Loan Bank ​ — ​ 600,000 ​ Short-term bank loans ​ ​ — ​ ​ 111,000 ​ Commercial paper ​ 277,617 ​ 19,260 ​ ​ ​ $ 695,798 ​ $ 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2020 ​ 2019 2018 Average balance during the year ​ $ 509,577 ​ $ 605,858 ​ $ 701,622 ​ Average interest rate during the year ​ 0.89 % ​ 2.48 % 1.96 % Maximum month-end balance during the year ​ $ 714,507 ​ $ 693,750 ​ $ 849,568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ Average interest rate at end of year ​ ​ 0.25 % ​ 1.97 % ​ ​ ​ Securities underlying the agreements at end of year: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying value ​ $ 237,913 ​ $ 612,515 ​ ​ ​ ​ Estimated fair value ​ $ 262,554 ​ $ 661,023 ​ ​ ​ ​
FHLB notes
Short-term borrowings
Schedule of short-term borrowings	Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 ​ 2018 ​ Average balance during the year ​ $ 38,634 ​ $ 329,356 ​ $ 214,110 ​ Average interest rate during the year ​ ​ 1.63 % ​ 2.16 % ​ 2.09 % Maximum month-end balance during the year ​ $ 150,000 ​ $ 700,000 ​ $ 675,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ 2019 ​ ​ ​ ​ Average interest rate at end of year ​ ​ — % ​ 1.56 % ​ ​ ​

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Senior Notes due April 2025, net of discount of $1,063 and $1,232, respectively ​ $ 148,937 ​ $ 148,768 Subordinated Notes due May 2030, net of discount of $793 ​ ​ 49,207 ​ ​ — Subordinated Notes due May 2035, net of discount of $2,392 ​ ​ 147,608 ​ ​ — FHLB notes, including premium of $0 and $146 , respectively ​ — ​ 28,848 Ventures Management lines of credit ​ ​ 36,235 ​ ​ 78,653 ​ ​ $ 381,987 ​ $ 256,269
Scheduled maturities of notes payable	Scheduled maturities for notes payable outstanding at December 31, 2020 are as follows (in thousands). ​ ​ ​ ​ 2021 $ 36,235 2022 — 2023 — 2024 — 2025 150,000 Thereafter 200,000 ​ $ 386,235

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ ​ 2020 ​ ​ 2019 Finance leases: ​ ​ ​ ​ ​ ​ ​ Premises and equipment ​ ​ $ 7,780 ​ $ 7,780 Accumulated depreciation ​ ​ ​ (4,768) ​ ​ (4,178) Premises and equipment, net ​ ​ $ 3,012 ​ $ 3,602
Schedule of components of lease costs	. The components of lease costs, including short-term lease costs, are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 Operating lease cost ​ ​ $ 41,903 ​ $ 44,331 Less operating lease and sublease income ​ ​ ​ (1,676) ​ ​ (2,657) Net operating lease cost ​ ​ $ 40,227 ​ $ 41,674 ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ ​ $ 590 ​ $ 590 Interest on lease liabilities ​ ​ ​ 561 ​ ​ 596 Total finance lease cost ​ ​ $ 1,151 ​ $ 1,186
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 31,850 ​ $ 37,527 ​ Operating cash flows from finance leases ​ ​ 561 ​ ​ 587 ​ Financing cash flows from finance leases ​ ​ 636 ​ ​ 603 ​ Right-of-use assets obtained in exchange for new lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 11,723 ​ $ 27,055 ​ Finance leases ​ ​ — ​ ​ — ​
Schedule of lease terms and discount rates	Information regarding the lease terms and discount rates of the Company’s leases is as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 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 ​ 5.5 ​ 4.67 % ​ 5.9 ​ 5.29 % Finance ​ 5.6 ​ 4.81 % ​ 6.5 ​ 4.79 %
Schedule of maturities of lease liabilities under the Leasing Standard	Maturities of lease liabilities at December 31, 2020, under lease agreements that had commenced as of or subsequent to January 1, 2019, are presented below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases 2021 $ 36,132 ​ $ 1,212 2022 ​ 28,189 ​ ​ 1,241 2023 ​ 22,645 ​ ​ 1,280 2024 ​ 15,395 ​ ​ 1,163 2025 ​ 11,177 ​ ​ 886 Thereafter ​ 29,636 ​ ​ 1,411 Total minimum lease payments ​ 143,174 ​ ​ 7,193 Less amount representing interest ​ (17,724) ​ ​ (2,334) Lease liabilities $ 125,450 ​ $ 4,859

Junior Subordinated Debenture_2

Junior Subordinated Debentures and Trust Preferred Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Junior Subordinated Debentures and Trust Preferred Securities
Schedule of information regarding the PlainsCapital Debentures	Information regarding the PCC Debentures is shown in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ Investor Issue Date Amount PCC Statutory Trust I July 31, 2001 ​ $ 18,042 PCC Statutory Trust II March 26, 2003 ​ $ 18,042 PCC Statutory Trust III September 17, 2003 ​ $ 15,464 PCC Statutory Trust IV February 22, 2008 ​ $ 15,464

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes
Schedule of components of the provision for income tax provision (benefit)	The significant components of the income tax provision are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 97,338 ​ $ 58,562 ​ $ 18,977 State ​ ​ 19,150 ​ ​ 9,215 ​ ​ 2,241 ​ ​ 116,488 ​ ​ 67,777 ​ 21,218 Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 13,325 ​ $ (2,690) ​ $ 11,153 State ​ ​ 3,258 ​ ​ (1,373) ​ ​ 1,856 ​ ​ 16,583 ​ (4,063) ​ 13,009 ​ ​ $ 133,071 ​ $ 63,714 ​ $ 34,227
Schedule of reconciliation of the income tax provision (benefit) and the amount that would be computed by applying the statutory Federal income tax rate to income (loss) before income taxes	The income tax provision differs from the amount that would be computed by applying the statutory Federal income tax rate to income before income taxes as a result of the following (in thousands). The applicable corporate federal income tax rates were 21% for all periods presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Computed tax at federal statutory rate ​ $ 118,629 ​ $ 59,392 ​ $ 32,572 ​ Tax effect of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nondeductible expenses ​ ​ 2,304 ​ 2,681 ​ ​ 1,373 ​ State income taxes ​ 17,702 ​ 6,195 ​ ​ 3,236 ​ Tax-exempt income, net ​ (1,706) ​ (1,727) ​ ​ (1,432) ​ Minority interest ​ (4,587) ​ (1,614) ​ ​ (900) ​ Other ​ ​ 729 ​ (1,213) ​ ​ (622) ​ ​ ​ $ 133,071 ​ $ 63,714 ​ $ 34,227 ​
Schedule of components of the tax effects of temporary differences that give rise to the net deferred tax asset	The components of the tax effects of temporary differences that give rise to the net deferred tax asset included in other assets within the consolidated balance sheets are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Net operating and built-in loss carryforward ​ $ 5,736 ​ $ 7,823 ​ Purchase accounting adjustment - loans ​ 11,814 ​ ​ 15,850 ​ Allowance for credit losses ​ 35,542 ​ ​ 14,796 ​ Compensation and benefits ​ 22,513 ​ ​ 17,723 ​ Legal and other reserves ​ 7,097 ​ ​ 1,272 ​ Foreclosed property ​ 1,913 ​ ​ 5,456 ​ Operating lease liabilities ​ 29,348 ​ ​ 29,125 ​ Other ​ ​ 9,717 ​ ​ 6,475 ​ ​ ​ 123,680 ​ 98,520 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Premises and equipment ​ 20,076 ​ ​ 10,079 ​ Intangible assets ​ 4,518 ​ ​ 6,098 ​ Derivatives ​ 17,688 ​ ​ 4,342 ​ Loan servicing ​ 34,868 ​ ​ 13,278 ​ Operating lease ROU assets ​ ​ 24,755 ​ ​ 26,498 ​ Other ​ 8,015 ​ ​ 5,251 ​ ​ ​ 109,920 ​ 65,546 ​ Net deferred tax asset ​ $ 13,760 ​ $ 32,974 ​
Schedule of changes in gross unrecognized tax benefits, which excludes interest and penalties	​ The aggregate changes in gross unrecognized tax benefits, which excludes interest and penalties, are as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Balance, beginning of year ​ $ 2,808 ​ $ 3,056 ​ $ 1,574 ​ Increases related to tax positions taken during a prior year ​ 327 ​ ​ 317 ​ ​ 770 ​ Decreases related to tax positions taken during a prior year ​ — ​ ​ (423) ​ ​ — ​ Increases related to tax positions taken during the current year ​ ​ 1,017 ​ ​ 288 ​ ​ 712 ​ Decreases related to expiration of the statute of limitations ​ ​ (374) ​ ​ (430) ​ ​ — ​ Balance, end of year ​ $ 3,778 ​ $ 2,808 ​ $ 3,056 ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 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 ​ Year Ended December 31, ​ 2020 2019 2018 Balance, beginning of year $ 32,144 ​ $ 33,784 ​ $ 33,702 ​ Claims made 17,429 ​ 20,054 ​ 22,156 ​ Claims resolved with no payment (7,778) ​ (14,154) ​ (13,169) ​ Repurchases (11,588) ​ (6,170) ​ (8,250) ​ Indemnification payments (122) ​ (1,370) ​ (655) ​ Balance, end of year $ 30,085 ​ $ 32,144 ​ $ 33,784 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification Liability Reserve Activity ​ Year Ended December 31, ​ 2020 2019 2018 Balance, beginning of year $ 11,776 ​ $ 10,701 ​ $ 23,472 ​ Additions for new sales 9,991 ​ 3,116 ​ 3,170 ​ Repurchases (768) ​ (495) ​ (612) ​ Early payment defaults (624) ​ (380) ​ (368) ​ Indemnification payments (1) (39) ​ (352) ​ (13,687) ​ Change in reserves for loans sold in prior years 1,195 ​ (814) ​ (1,274) ​ Balance, end of year $ 21,531 ​ $ 11,776 ​ $ 10,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ 2020 2019 ​ ​ ​ Reserve for Indemnification Liability: ​ ​ ​ ​ ​ ​ ​ ​ ​ Specific claims $ 961 ​ $ 1,071 ​ ​ ​ ​ Incurred but not reported claims 20,570 ​ ​ 10,705 ​ ​ ​ ​ Total $ 21,531 ​ $ 11,776 ​ ​ ​ ​ (1) Indemnification payments in 2018 included $13.5 million related to agreements with the DOJ and HUD in exchange for release of any civil claims related to certain loans originated by PrimeLending. These claims were included in incurred but not reported claims in prior periods. ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested RSU activity (shares in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ Outstanding Fair Value Balance, December 31, 2017 ​ 1,318 ​ $ 20.89 ​ Granted ​ 510 ​ $ 24.00 ​ Vested/Released ​ (406) ​ $ 19.92 ​ Forfeited ​ (152) ​ $ 20.97 Balance, December 31, 2018 ​ 1,270 ​ $ 22.44 ​ Granted ​ 719 ​ $ 20.02 ​ Vested/Released ​ (496) ​ $ 18.17 ​ Forfeited ​ (56) ​ $ 24.12 Balance, December 31, 2019 ​ 1,437 ​ $ 22.64 ​ Granted ​ 777 ​ $ 21.79 ​ Vested/Released ​ (350) ​ $ 26.83 ​ Forfeited ​ (31) ​ $ 22.38 Balance, December 31, 2020 ​ 1,833 ​ $ 21.48

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2020
Regulatory Matters
Schedule of comparison of the Plain Capital's and Hilltop's consolidated actual capital amounts and ratios to the regulatory minimum requirements and the Bank's regulatory minimum capital requirements and the Bank's regulatory minimum capital requirements needed to qualify as a well-capitalized institution without giving effect to the final Basel III capital rules adopted by the Federal Reserve Board	The following tables show PlainsCapital’s and Hilltop’s actual capital amounts and ratios in accordance with Basel III compared to the regulatory minimum capital requirements including conservation buffer ratio in effect at the end of the period (dollars in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Including ​ To Be Well ​ ​ Actual ​ Conservation Buffer ​ Capitalized ​ Amount Ratio Ratio Ratio December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ $ 1,385,842 10.44 % 4.0 % 5.0 % Hilltop ​ 2,111,580 12.64 % 4.0 % N/A ​ Common equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ ​ 1,385,842 14.40 % 7.0 % 6.5 % Hilltop ​ ​ 2,046,580 18.97 % 7.0 % N/A ​ Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,385,842 14.40 % 8.5 % 8.0 % Hilltop ​ 2,111,580 19.57 % 8.5 % N/A ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PlainsCapital ​ 1,470,364 15.27 % 10.5 % 10.0 % Hilltop ​ 2,409,684 22.34 % 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 reconciliation of equity capital to common equity Tier 1, Tier 1 and total capital (as defined)	A reconciliation of equity capital to common equity Tier 1, Tier 1 and total capital (as defined) is as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ PlainsCapital Hilltop PlainsCapital Hilltop Total equity capital ​ $ 1,654,249 ​ $ 2,323,939 ​ $ 1,523,549 ​ $ 2,103,039 ​ Add: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net unrealized holding losses (gains) on securities available for sale and held in trust ​ (17,763) ​ (17,763) ​ (9,452) ​ (11,419) ​ CECL transition adjustment ​ ​ 22,905 ​ ​ 23,842 ​ ​ — ​ ​ — ​ Deduct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill and other disallowed intangible assets ​ ​ (273,330) ​ (283,187) ​ (276,249) ​ (313,756) ​ Other ​ ​ (219) ​ (251) ​ (1,559) ​ (1,483) ​ Common equity Tier 1 capital (as defined) ​ ​ 1,385,842 ​ 2,046,580 ​ 1,236,289 ​ ​ 1,776,381 ​ Add: Tier 1 capital ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust preferred securities ​ ​ — ​ 65,000 ​ — ​ 65,000 ​ Deduct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional Tier 1 capital deductions ​ — ​ — ​ — ​ (18,411) ​ Tier 1 capital (as defined) ​ 1,385,842 ​ 2,111,580 ​ 1,236,289 ​ 1,822,970 ​ Add: Allowable Tier 2 capital ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses, including unfunded commitments ​ 120,334 ​ 134,853 ​ 63,164 ​ 63,212 ​ Capital instruments ​ ​ — ​ 200,000 ​ — ​ — ​ Deduct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional Tier 2 capital deductions ​ ​ (35,812) ​ (36,749) ​ — ​ (18,411) ​ Total capital (as defined) ​ $ 1,470,364 ​ $ 2,409,684 ​ $ 1,299,453 ​ $ 1,867,771 ​
Schedule of net capital position	At December 31, 2020, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Momentum ​ ​ ​ Hilltop ​ Independent ​ ​ Securities Network Net capital ​ $ 291,228 ​ $ 3,220 ​ Less: required net capital ​ ​ 7,045 ​ ​ 250 ​ Excess net capital ​ $ 284,183 ​ $ 2,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net capital as a percentage of aggregate debit items ​ ​ 82.7 % ​ ​ ​ Net capital in excess of 5% aggregate debit items ​ $ 273,616 ​ ​ ​ ​

Other Noninterest Income and _2

Other Noninterest Income and Expense (Tables)	12 Months Ended
	Dec. 31, 2020
Other Noninterest Income and Expense
Schedule of components of other noninterest income and expense	The following table shows the components of other noninterest income and expense (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Other noninterest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gains from trading securities portfolio ​ $ 121,983 ​ $ 20,521 ​ $ 6,197 Net gains from Hilltop Broker-Dealer structured product and derivative activities ​ 81,111 ​ 129,571 ​ 41,543 Service charges on depositor accounts ​ 14,845 ​ 15,170 ​ ​ 14,484 Trust fees ​ ​ 9,804 ​ ​ 10,255 ​ ​ 9,807 Other ​ 15,862 ​ 10,833 ​ 18,365 ​ ​ $ 243,605 ​ $ 186,350 ​ $ 90,396 Other noninterest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ Software and information technology ​ $ 56,872 ​ $ 50,751 ​ $ 52,882 Mortgage origination and servicing ​ ​ 27,808 ​ ​ 19,892 ​ ​ 19,705 Brokerage commissions and fees ​ ​ 24,113 ​ ​ 20,039 ​ ​ 20,674 Unreimbursed loan closing costs ​ ​ 21,696 ​ ​ 16,784 ​ ​ 16,798 Business development ​ 10,190 ​ 12,940 ​ 15,853 Amortization of intangible assets ​ 6,301 ​ 7,567 ​ 8,026 Travel, meals and entertainment ​ 4,804 ​ 12,160 ​ 11,968 Funding fees ​ 4,461 ​ 5,393 ​ 5,414 Office supplies ​ 3,953 ​ 4,809 ​ 5,788 Other ​ ​ 64,560 ​ ​ 43,051 ​ ​ 55,284 ​ ​ $ 224,758 ​ $ 193,386 ​ $ 212,392

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Financial Instruments
Schedule of changes in fair value of derivatives	​ Changes in the fair value of derivatives are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 2019 ​ 2018 Increase (decrease) in fair value of derivatives during period: ​ ​ ​ ​ ​ ​ ​ ​ ​ PrimeLending ​ $ 33,714 ​ $ 8,550 ​ $ (12,788) Hilltop Broker-Dealers ​ ​ 3,969 ​ ​ (3,085) ​ ​ (381) Bank ​ ​ (7) ​ ​ (148) ​ ​ 30
Schedule of derivative positions	​ Derivative positions are presented in the following table (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Notional Estimated Notional Estimated ​ ​ Amount ​ Fair Value ​ Amount ​ Fair Value Derivative instruments (not designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLCs ​ $ 2,470,013 ​ $ 76,048 ​ $ 914,526 ​ $ 18,222 Customer-based written options ​ — ​ — ​ 31,200 ​ — Customer-based purchased options ​ — ​ — ​ 31,200 ​ — Commitments to purchase MBSs ​ 2,478,041 ​ 22,311 ​ 3,346,946 ​ 3,321 Commitments to sell MBSs ​ ​ 6,141,079 ​ (40,621) ​ 5,988,198 ​ (5,904) Interest rate swaps ​ ​ 43,786 ​ (2,196) ​ 15,012 ​ (178) U.S. Treasury bond futures and options (1) ​ ​ 225,400 ​ — ​ 283,500 ​ — Eurodollar futures (1) ​ ​ — ​ — ​ 934,000 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments (designated as hedges): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as cash flow hedges ​ $ 105,000 ​ $ (3,112) ​ $ 50,000 ​ $ 528 Interest rate swaps designated as fair value hedges (2) ​ ​ 60,618 ​ ​ (130) ​ ​ — ​ ​ — (1) Changes in the fair value of these contracts are settled daily with the respective counterparties of PrimeLending and the Hilltop Broker-Dealers. (2) The Company designated $60.6 million as the hedged amount (from a closed portfolio of prepayable available for sale securities with a carrying value of $60.7 million as of December 31, 2020) in a last-of-layer hedging relationship, which commenced in the fourth quarter of 2020. The cumulative basis adjustment included in the carrying value of the hedged items totaled $0.1 million.

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	12 Months Ended
	Dec. 31, 2020
Balance Sheet Offsetting
Schedule of the assets subject to an enforceable master netting arrangement or repurchase agreements	The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Amounts ​ the Balance Sheet ​ ​ ​ ​ Gross Amounts Gross Amounts of Assets ​ Cash ​ ​ ​ of Recognized ​ Offset in the ​ Presented in the ​ Financial ​ Collateral ​ Net ​ ​ Assets ​ Balance Sheet ​ Balance Sheet ​ Instruments ​ Pledged ​ Amount December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities borrowed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,338,855 ​ $ — ​ $ 1,338,855 ​ $ (1,273,955) ​ $ — ​ $ 64,900 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reverse repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ ​ 80,319 ​ ​ — ​ ​ 80,319 ​ ​ (79,925) ​ ​ — ​ ​ 394 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 22,311 ​ — ​ 22,311 ​ (22,311) ​ — ​ — ​ ​ $ 1,441,485 ​ $ — ​ $ 1,441,485 ​ $ (1,376,191) ​ $ — ​ $ 65,294 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 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities loaned: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ $ 1,245,066 ​ $ — ​ $ 1,245,066 ​ $ (1,179,090) ​ $ — ​ $ 65,976 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 2,196 ​ — ​ 2,196 ​ (2,123) ​ — ​ 73 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Repurchase agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 237,856 ​ — ​ 237,856 ​ (237,856) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward MBS derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Institutional counterparties ​ 40,741 ​ (120) ​ 40,621 ​ (12,670) ​ — ​ 27,951 ​ ​ $ 1,525,859 ​ $ (120) ​ $ 1,525,739 ​ $ (1,431,739) ​ $ — ​ $ 94,000 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 December 31, 2020 and 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining Contractual Maturities ​ ​ Overnight and ​ ​ ​ ​ ​ Greater Than ​ ​ ​ December 31, 2020 ​ Continuous ​ Up to 30 Days ​ 30-90 Days ​ 90 Days ​ Total Repurchase agreement transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-backed securities ​ $ 110,831 ​ $ — ​ $ 127,025 ​ $ — ​ $ 237,856 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities lending transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate securities ​ ​ 113 ​ ​ — ​ ​ — ​ ​ — ​ ​ 113 Equity securities ​ ​ 1,244,953 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,244,953 Total ​ $ 1,355,897 ​ $ — ​ $ 127,025 ​ $ — ​ $ 1,482,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above ​ ​ ​ ​ $ 1,482,922 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)	12 Months Ended
	Dec. 31, 2020
Broker-Dealer and Clearing Organization Receivables and Payables
Schedule of broker-dealer and clearing organization receivables and payables	Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Receivables: ​ ​ ​ ​ ​ ​ ​ Securities borrowed ​ $ 1,338,855 ​ $ 1,634,782 ​ Securities failed to deliver ​ 58,244 ​ 18,726 ​ Trades in process of settlement ​ — ​ 104,922 ​ Other ​ 7,628 ​ 21,850 ​ ​ ​ $ 1,404,727 ​ $ 1,780,280 ​ Payables: ​ ​ ​ ​ ​ ​ ​ Securities loaned ​ $ 1,245,066 ​ $ 1,555,964 ​ Correspondents ​ 33,547 ​ 37,036 ​ Securities failed to receive ​ 61,589 ​ 8,568 ​ Trades in process of settlement ​ 21,765 ​ — ​ Other ​ 6,406 ​ 3,950 ​ ​ ​ $ 1,368,373 ​ $ 1,605,518 ​

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment and Related Information
Schedule of information about the segment revenues, operating results, goodwill, and assets of entity's reportable segments	The following tables present certain information about continuing operations reportable business segment revenues, operating results, goodwill and assets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ ​ ​ ​ All Other and ​ Continuing Year Ended December 31, 2020 ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations Net interest income (expense) ​ $ 390,871 ​ $ 39,912 ​ $ (10,489) ​ $ (14,192) ​ $ 18,064 ​ $ 424,166 Provision for credit losses ​ 96,326 ​ ​ 165 ​ ​ — ​ ​ — ​ ​ — ​ 96,491 Noninterest income ​ 41,376 ​ ​ 491,355 ​ ​ 1,172,450 ​ ​ 3,945 ​ ​ (18,646) ​ 1,690,480 Noninterest expense ​ 232,447 ​ 415,463 ​ 753,917 ​ ​ 53,040 ​ ​ (1,064) ​ 1,453,803 Income (loss) from continuing operations before taxes ​ $ 103,474 ​ $ 115,639 ​ $ 408,044 ​ $ (63,287) ​ $ 482 ​ $ 564,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ All Other and Continuing Year Ended December 31, 2019 ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations Net interest income (expense) ​ $ 379,258 ​ $ 51,308 ​ $ (6,273) ​ $ (5,541) ​ $ 20,227 ​ $ 438,979 Provision for (reversal of) credit losses ​ 7,280 ​ ​ (74) ​ ​ — ​ ​ — ​ ​ — ​ 7,206 Noninterest income ​ 41,753 ​ ​ 404,411 ​ ​ 634,992 ​ ​ 2,104 ​ ​ (20,443) ​ 1,062,817 Noninterest expense ​ 231,524 ​ 366,031 ​ 563,998 ​ ​ 50,968 ​ ​ (632) ​ 1,211,889 Income (loss) from continuing operations before taxes ​ $ 182,207 ​ $ 89,762 ​ $ 64,721 ​ $ (54,405) ​ $ 416 ​ $ 282,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ All Other and Continuing Year Ended December 31, 2018 ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations Net interest income (expense) ​ $ 370,732 ​ $ 50,878 ​ $ 1,485 ​ $ (9,176) ​ $ 19,380 ​ $ 433,299 Provision for (reversal of) credit losses ​ 5,319 ​ ​ (231) ​ ​ — ​ ​ — ​ ​ — ​ 5,088 Noninterest income ​ 43,588 ​ ​ 301,714 ​ ​ 551,860 ​ ​ 4,798 ​ ​ (21,830) ​ 880,130 Noninterest expense ​ 256,577 ​ 320,241 ​ 540,474 ​ ​ 36,628 ​ ​ (592) ​ 1,153,328 Income (loss) from continuing operations before taxes ​ $ 152,424 ​ $ 32,582 ​ $ 12,871 ​ $ (41,006) ​ $ (1,858) ​ $ 155,013 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage ​ All Other and Continuing ​ ​ Banking ​ Broker-Dealer ​ Origination ​ Corporate ​ Eliminations ​ Operations December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 13,338,930 ​ $ 3,196,346 ​ $ 3,285,005 ​ $ 2,823,374 ​ $ (5,699,391) ​ $ 16,944,264 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 247,368 ​ $ 7,008 ​ $ 13,071 ​ $ — ​ $ — ​ $ 267,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets in continuing operations ​ $ 11,147,344 ​ $ 3,457,068 ​ $ 2,357,415 ​ $ 2,393,604 ​ $ (4,431,412) ​ $ 14,924,019

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings per Common Share
Schedule of the computation of basic and diluted earnings per common share	The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 409,440 ​ $ 211,301 ​ $ 116,500 ​ Income from discontinued operations ​ ​ 38,396 ​ ​ 13,990 ​ ​ 4,941 ​ Income attributable to Hilltop ​ $ 447,836 ​ $ 225,291 ​ $ 121,441 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 89,280 ​ 92,345 ​ 94,969 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 4.59 ​ $ 2.29 ​ $ 1.23 ​ Income from discontinued operations ​ ​ 0.43 ​ ​ 0.15 ​ ​ 0.05 ​ ​ ​ $ 5.02 ​ $ 2.44 ​ $ 1.28 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 409,440 ​ $ 211,301 ​ $ 116,500 ​ Income from discontinued operations ​ ​ 38,396 ​ ​ 13,990 ​ ​ 4,941 ​ Income attributable to Hilltop ​ $ 447,836 ​ $ 225,291 ​ $ 121,441 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding - basic ​ 89,280 ​ 92,345 ​ 94,969 ​ Effect of potentially dilutive securities ​ 24 ​ 49 ​ 98 ​ Weighted average shares outstanding - diluted ​ 89,304 ​ 92,394 ​ 95,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 4.58 ​ $ 2.29 ​ $ 1.23 ​ Income from discontinued operations ​ ​ 0.43 ​ ​ 0.15 ​ ​ 0.05 ​ ​ ​ $ 5.01 ​ $ 2.44 ​ $ 1.28 ​

Financial Statements of Parent

Financial Statements of Parent (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Statements of Parent
Schedule of Condensed Combined Statements of Operations and Comprehensive Income (Loss)	The following tables present the condensed combined financial statements of the Company’s bank holding company entities, Hilltop and PCC. The tables also include the corporate activities associated with Hilltop Opportunity Partners LLC and the Hilltop Plaza Entities (in thousands). Investments in subsidiaries are determined using the equity method of accounting. ​ Condensed Combined Statements of Operations and Comprehensive Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2020 2019 2018 Dividends from bank subsidiaries ​ $ 249,771 ​ $ 143,000 ​ $ 42,000 ​ Dividends from nonbank subsidiaries ​ ​ 56,150 ​ ​ 36,950 ​ ​ 37,500 ​ Investment income ​ ​ 4,102 ​ ​ 5,933 ​ ​ 3,089 ​ Interest expense ​ ​ 18,294 ​ ​ 11,474 ​ ​ 12,265 ​ Other income ​ ​ 45,887 ​ ​ 2,221 ​ ​ 4,893 ​ General and administrative expense ​ 58,130 ​ 50,968 ​ 36,628 ​ Income before income taxes and equity in undistributed earnings of subsidiaries activity ​ 279,486 ​ ​ 125,662 ​ 38,589 ​ Income tax benefit ​ (13,897) ​ (12,706) ​ (7,767) ​ Equity in undistributed earnings of subsidiaries ​ 176,294 ​ 94,609 ​ 79,371 ​ Net income ​ $ 469,677 ​ $ 232,977 ​ $ 125,727 ​ Other comprehensive income (loss), net ​ ​ 6,344 ​ ​ 20,046 ​ ​ (5,656) ​ Comprehensive income ​ $ 476,021 ​ $ 253,023 ​ $ 120,071 ​
Schedule of Condensed Combined Balance Sheets	Condensed Combined Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 2018 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 478,826 ​ $ 116,471 ​ $ 54,405 Investment in subsidiaries: ​ ​ ​ ​ ​ ​ ​ ​ Bank subsidiaries ​ ​ 1,654,249 ​ 1,523,549 ​ 1,459,984 Nonbank subsidiaries ​ ​ 453,847 ​ 533,844 ​ 483,593 Other assets ​ 236,452 ​ 219,740 ​ 245,200 Total assets ​ $ 2,823,374 ​ $ 2,393,604 ​ $ 2,243,182 Liabilities and Stockholders’ Equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 64,635 ​ $ 53,418 ​ $ 58,319 Notes payable ​ 412,764 ​ 215,780 ​ 215,620 Stockholders’ equity ​ 2,345,975 ​ 2,124,406 ​ 1,969,243 Total liabilities and stockholders’ equity ​ $ 2,823,374 ​ $ 2,393,604 ​ $ 2,243,182
Schedule of Condensed Combined Statements of Cash Flows	Condensed Combined Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 2018 Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 469,677 ​ $ 232,977 ​ $ 125,727 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in undistributed earnings of subsidiaries ​ (176,294) ​ (94,609) ​ (79,371) Net realized gains on equity investments ​ — ​ — ​ (5,336) Net realized gains on disposal of discontinued operations ​ ​ (41,901) ​ ​ — ​ ​ — Deferred income taxes ​ 4,432 ​ (123) ​ 217 Other, net ​ 37,465 ​ 44,943 ​ 19,368 Net cash provided by operating activities ​ 293,379 ​ 183,188 ​ 60,605 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases of equity investments ​ ​ (29,365) ​ — ​ (12,492) Purchases of premises and equipment and other ​ (12,547) ​ (17,302) ​ (42,390) Proceeds from sales of equity investments ​ ​ — ​ ​ — ​ ​ 16,174 Proceeds from sale of discontinued operations ​ ​ 154,963 ​ ​ — ​ ​ — Net cash provided by (used in) investing activities ​ 113,051 ​ (17,302) ​ (38,708) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments to repurchase common stock ​ ​ (208,664) ​ ​ (73,385) ​ ​ (58,990) Proceeds from issuance of notes payable ​ ​ 196,657 ​ ​ — ​ ​ — Dividends paid on common stock ​ ​ (32,524) ​ ​ (29,627) ​ ​ (26,698) Net cash contributed from noncontrolling interest ​ ​ 825 ​ ​ 100 ​ ​ 19,250 Other, net ​ ​ (369) ​ ​ (908) ​ ​ 2,182 Net cash used in financing activities ​ (44,075) ​ (103,820) ​ (64,256) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ​ 362,355 ​ 62,066 ​ (42,359) Cash and cash equivalents, beginning of year ​ 116,471 ​ 54,405 ​ ​ 96,764 Cash and cash equivalents, end of year ​ $ 478,826 ​ $ 116,471 ​ $ 54,405 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental Schedule of Non-Cash Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction in progress related to build-to-suit lease obligations ​ $ — ​ $ — ​ $ 27,802 Note receivable contributed from nonbank subsidiary ​ $ — ​ $ — ​ $ 111,653

Selected Quarterly Financial _2

Selected Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Selected Quarterly Financial Information (Unaudited)
Schedule of quarterly financial information	Selected quarterly financial information is summarized as follows (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ ​ ​ Fourth Third Second First Full ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year Interest income ​ $ 136,861 ​ $ 129,828 ​ $ 134,931 ​ $ 144,875 ​ $ 546,495 Interest expense ​ 29,489 ​ 27,928 ​ 30,373 ​ 34,539 ​ 122,329 Net interest income ​ 107,372 ​ 101,900 ​ 104,558 ​ 110,336 ​ 424,166 Provision for (reversal of) credit losses ​ (3,482) ​ (602) ​ 66,026 ​ 34,549 ​ 96,491 Noninterest income ​ 447,931 ​ 502,711 ​ 468,125 ​ 271,713 ​ 1,690,480 Noninterest expense ​ 402,348 ​ 399,345 ​ 370,209 ​ 281,901 ​ 1,453,803 Income from continuing operations before income taxes ​ 156,437 ​ 205,868 ​ 136,448 ​ 65,599 ​ 564,352 Income tax expense ​ 39,295 ​ 46,820 ​ 31,808 ​ 15,148 ​ 133,071 Income from continuing operations ​ ​ 117,142 ​ ​ 159,048 ​ ​ 104,640 ​ ​ 50,451 ​ ​ 431,281 Income from discontinued operations, net of income taxes ​ ​ 3,734 ​ ​ 736 ​ ​ 30,775 ​ ​ 3,151 ​ ​ 38,396 Net income ​ 120,876 ​ 159,784 ​ 135,415 ​ 53,602 ​ 469,677 Less: Net income attributable to noncontrolling interest ​ 4,431 ​ 6,505 ​ 6,939 ​ 3,966 ​ 21,841 Income attributable to Hilltop ​ $ 116,445 ​ $ 153,279 ​ $ 128,476 ​ $ 49,636 ​ $ 447,836 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 1.31 ​ $ 1.69 ​ $ 1.08 ​ $ 0.51 ​ $ 4.59 Earnings from discontinued operations ​ ​ 0.04 ​ ​ 0.01 ​ ​ 0.34 ​ ​ 0.04 ​ ​ 0.43 ​ ​ $ 1.35 ​ $ 1.70 ​ $ 1.42 ​ $ 0.55 ​ $ 5.02 Diluted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 1.30 ​ $ 1.69 ​ $ 1.08 ​ $ 0.51 ​ $ 4.58 Earnings from discontinued operations ​ ​ 0.05 ​ ​ 0.01 ​ ​ 0.34 ​ ​ 0.04 ​ ​ 0.43 ​ ​ $ 1.35 ​ $ 1.70 ​ $ 1.42 ​ $ 0.55 ​ $ 5.01 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash dividends declared per common share ​ $ 0.09 ​ $ 0.09 ​ $ 0.09 ​ $ 0.09 ​ $ 0.36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ ​ ​ ​ Fourth Third Second First Full ​ ​ Quarter ​ Quarter ​ Quarter ​ Quarter ​ Year Interest income ​ $ 151,818 ​ $ 160,940 ​ $ 149,000 ​ $ 148,938 ​ $ 610,696 Interest expense ​ 41,058 ​ 48,294 ​ 41,716 ​ 40,649 ​ 171,717 Net interest income ​ 110,760 ​ 112,646 ​ 107,284 ​ 108,289 ​ 438,979 Provision for (reversal of) credit losses ​ 6,880 ​ 47 ​ (672) ​ 951 ​ 7,206 Noninterest income ​ 263,646 ​ 306,505 ​ 276,703 ​ 215,963 ​ 1,062,817 Noninterest expense ​ 307,868 ​ 321,186 ​ 304,088 ​ 278,747 ​ 1,211,889 Income from continuing operations before income taxes ​ 59,658 ​ 97,918 ​ 80,571 ​ 44,554 ​ 282,701 Income tax expense ​ 13,579 ​ 21,472 ​ 18,526 ​ 10,137 ​ 63,714 Income from continuing operations ​ ​ 46,079 ​ ​ 76,446 ​ ​ 62,045 ​ ​ 34,417 ​ ​ 218,987 Income (loss) from discontinued operations, net of income taxes ​ ​ 5,623 ​ ​ 5,261 ​ ​ (2,254) ​ ​ 5,360 ​ ​ 13,990 Net income ​ 51,702 ​ 81,707 ​ 59,791 ​ 39,777 ​ 232,977 Less: Net income attributable to noncontrolling interest ​ 2,426 ​ 2,289 ​ 1,980 ​ 991 ​ 7,686 Income attributable to Hilltop ​ $ 49,276 ​ $ 79,418 ​ $ 57,811 ​ $ 38,786 ​ $ 225,291 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 0.48 ​ $ 0.81 ​ $ 0.64 ​ $ 0.36 ​ $ 2.29 Earnings (losses) from discontinued operations ​ ​ 0.06 ​ ​ 0.06 ​ ​ (0.02) ​ ​ 0.05 ​ ​ 0.15 ​ ​ $ 0.54 ​ $ 0.87 ​ $ 0.62 ​ $ 0.41 ​ $ 2.44 Diluted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings from continuing operations ​ $ 0.48 ​ $ 0.81 ​ $ 0.64 ​ $ 0.36 ​ $ 2.29 Earnings (losses) from discontinued operations ​ ​ 0.06 ​ ​ 0.05 ​ ​ (0.02) ​ ​ 0.05 ​ ​ 0.15 ​ ​ $ 0.54 ​ $ 0.86 ​ $ 0.62 ​ $ 0.41 ​ $ 2.44 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash dividends declared per common share ​ $ 0.08 ​ $ 0.08 ​ $ 0.08 ​ $ 0.08 ​ $ 0.32

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Basis of Presentation, Ownership (Details) $ in Millions	Jun. 30, 2020USD ($)	Dec. 31, 2020item
Basis of Presentation
Number of primary 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
Membership ownership percentage		100.00%
HTH Hillcrest Project LLC
Basis of Presentation
Membership ownership percentage		100.00%
Hilltop Investments I, LLC
Basis of Presentation
Membership ownership percentage		100.00%
PPC | PlainsCapital (the Bank)
Basis of Presentation
Ownership percentage		100.00%
PPC | Hilltop Opportunity Partners LLC
Basis of Presentation
Membership ownership percentage		100.00%
PPC | PCC Statutory Trusts
Basis of Presentation
Ownership percentage		100.00%
PlainsCapital (the Bank) | Prime Lending
Basis of Presentation
Ownership percentage		100.00%
Prime Lending | Ventures Management
Basis of Presentation
Membership ownership percentage		100.00%
Hilltop Investments I, LLC | Hillcrest Land LLC
Basis of Presentation
Membership ownership percentage		50.00%

Summary of Significant Accoun_4

Summary of Significant Accounting and Reporting Policies - Loans (Details)	12 Months Ended
	Dec. 31, 2020
Minimum | Single Family Residential Loans
Loans Held for Sale
Loans held-for-sale, period reported on balance sheet	30 days
Maximum
Loans Held for Sale
Loans held-for-sale, period reported on balance sheet	30 days
Maximum | Single Family Residential Loans
Loans Held for Sale
Loans held-for-sale, period reported on balance sheet	45 days

Summary of Significant Accoun_5

Summary of Significant Accounting and Reporting Policies - Premises and Equipment (Details) - Property, Plant and Equipment [Member]	12 Months Ended
	Dec. 31, 2020
Minimum
Premises and Equipment
Estimated useful lives	3 years
Maximum
Premises and Equipment
Estimated useful lives	25 years

Summary of Significant Accoun_6

Summary of Significant Accounting and Reporting Policies - Other Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 22, 2015	May 22, 2015USD ($)	Apr. 09, 2015USD ($)
Broker-Dealer
Debt Instrument
Number of primary lines of business | item	4
Banking
Debt Instrument
Number of primary lines of business | item	3
Interest Expense
Debt Instrument
Debt issuance costs amortized | $	$ 0.3	$ 0.2	$ 0.2
Senior exchangeable notes 7.50 percent due 2025 | Private Placement
Debt Instrument
Capitalized debt issuance costs | $					$ 3.2	$ 1.9
Senior Notes due April 2025
Debt Instrument
Interest rate (as a percent)				5.00%
Senior Notes due April 2025 | Private Placement
Debt Instrument
Interest rate (as a percent)						5.00%

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Recent Accounting Pronouncements
Retained Earnings (Accumulated Deficit)	$ 986,792	$ 644,860
Cumulative Effect, Period of Adoption, Adjusted Balance | 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	Dec. 31, 2020	Dec. 31, 2019
Discontinued Operations
Goodwill			$ 24,000
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
Net gains on disposal of discontinued operations		$ 36,811
Transaction cost		$ 5,100
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	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Discontinued Operations
Income from discontinued operations before income taxes									$ 38,900	$ 17,600	$ 5,800
Income from discontinued operations, net of income taxes	$ 3,734	$ 736	$ 30,775	$ 3,151	$ 5,623	$ 5,261	$ (2,254)	$ 5,360	38,396	13,990	4,941
Discontinued Operations, Disposed of by sale | NLC
Discontinued Operations
Securities: Taxable									1,752	3,611	4,310
Other									71	522	495
Total interest income									1,823	4,133	4,805
Interest expense - notes payable									775	1,806	1,780
Net insurance premiums earned									65,077	132,284	136,751
Other									3,051	10,915	5,909
Total noninterest income									68,128	143,199	142,660
Employees' compensation and benefits									6,002	11,663	11,474
Occupancy and equipment, net									464	991	1,284
Professional services									18,201	35,528	35,953
Loss and loss adjustment expenses									38,419	68,940	79,347
Other									3,987	10,796	11,863
Total noninterest expense									67,073	127,918	139,921
Income from discontinued operations before income taxes									2,103	17,608	5,764
Gain on disposal of discontinued operations									36,811
Income tax expense									518	3,618	823
Income from discontinued operations, net of income taxes									$ 38,396	$ 13,990	$ 4,941

Discontinued Operations - Secur

Discontinued Operations - Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Discontinued Operations
Available-for-sale unrealized gains	$ 28,586	$ 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		$ 1,900

Discontinued Operations - Effec

Discontinued Operations - Effects of Reinsurance (Details) - NLC - Discontinued Operations, Disposed of by sale - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Written
Premiums from direct business	$ 63,811	$ 125,157	$ 129,611
Reinsurance assumed	6,396	13,148	12,917
Reinsurance ceded	(2,759)	(7,191)	(8,749)
Net premiums	67,448	131,114	133,779
Earned
Premiums from direct business	61,384	126,434	133,112
Reinsurance assumed	6,452	13,041	12,516
Reinsurance ceded	(2,759)	(7,191)	(8,877)
Net premiums	65,077	132,284	136,751
Effect of reinsurance on incurred losses
Loss and LAE incurred	38,225	68,130	76,464
Reinsurance recoverables	194	810	2,883
Net loss and LAE incurred	$ 38,419	68,940	$ 79,347
Amount of premium deficiency		$ 0

Discontinued Operations - Defer

Discontinued Operations - Deferred Policy Acquisition Cost (Details) - Discontinued Operations, Disposed of by sale - NLC - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Activity in deferred acquisition costs
Balance, beginning of year	$ 15,672	$ 16,633	$ 16,988
Acquisition expenses capitalized	17,642	32,245	34,328
Amortization charged to income	(16,967)	(33,206)	(34,683)
Balance, end of year	$ 16,347	$ 15,672	$ 16,633

Discontinued Operations - Insur

Discontinued Operations - Insurance Losses and Loss Adjustment Expenses (Details) - Discontinued Operations, Disposed of by sale - NLC $ in Millions	Dec. 31, 2019USD ($)
Discontinued Operations
Liability for claims and claims adjustment expense	$ 15.3
Estimated reinsurance recoveries	$ 1

Acquisition - Identifiable Asse

Acquisition - Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Aug. 01, 2018	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Fair values of the identifiable assets acquired, and liabilities assumed
Goodwill resulting from the acquisition			$ 267,447	$ 267,447
BORO
Fair values of the identifiable assets acquired, and liabilities assumed
Cash purchase price	$ 85,000
Cash and due from banks	21,756
Securities	60,477
Loans held for investment	326,618
Other assets	25,912
Total identifiable assets acquired	434,763
Deposits	376,393
Short-term borrowings	10,000
Other liabilities	2,996
Total liabilities assumed	389,389
Net identifiable assets acquired	45,374
Goodwill resulting from the acquisition	39,627
Net assets acquired	85,001
Allocation to intangible assets
Transaction and integration related expenses		$ 8,200
Core Deposits | BORO
Allocation to intangible assets
Intangible Assets	$ 10,000
Estimated Useful Life	6 years

Fair Value Measurements - FV Op

Fair Value Measurements - FV Option (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair value measurements
Mortgage loans held for sale, fair value	$ 2,520	$ 1,940
Mortgage loans held for sale, unpaid principal balance	$ 2,410	$ 1,880
Maximum
Fair value measurements
Loans Held for Sale Period of Time	30 days

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial assets:
Trading securities	$ 694,255	$ 689,576
Available for sale	1,462,205	911,493
Equity securities	140	166
MSR asset	143,742	55,504	$ 66,102	$ 54,714
Financial liabilities:
Securities sold, not yet purchased	79,789	43,817
Recurring
Financial assets:
Trading securities	694,255	689,576
Available for sale	1,462,205	911,493
Equity securities	140	166
Loans held for sale	2,521,404	1,935,713
Derivative assets	126,898	33,129
MSR asset	143,742	55,504
Financial liabilities:
Securities sold, not yet purchased	79,789	43,817
Derivative liabilities	74,598	17,140
Recurring | Level 1
Financial assets:
Trading securities	45,390
Equity securities	140	166
Financial liabilities:
Securities sold, not yet purchased	54,494	29,080
Recurring | Level 2
Financial assets:
Trading securities	648,865	689,576
Available for sale	1,462,205	911,493
Loans held for sale	2,449,588	1,868,518
Derivative assets	126,898	33,129
Financial liabilities:
Securities sold, not yet purchased	25,295	14,737
Derivative liabilities	74,598	17,140
Recurring | Level 3
Financial assets:
Loans held for sale	71,816	67,195
MSR asset	$ 143,742	$ 55,504

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	$ 122,699	$ 116,566	$ 91,686
Purchases/Additions	224,324	74,230	86,601
Sales/Reductions	(94,432)	(34,849)	(51,104)
Transfers into Level 3	10,323	1,136
Total gains or losses (realized or unrealized):
Included in Net Income	(47,356)	(34,384)	(10,617)
Asset balance, end of period	215,558	122,699	116,566
Loans Held for Sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	67,195	50,464	36,972
Purchases/Additions	61,410	60,475	61,573
Sales/Reductions	(57,682)	(34,849)	(41,801)
Transfers into Level 3	10,323	1,136
Total gains or losses (realized or unrealized):
Included in Net Income	(9,430)	(10,031)	(6,280)
Asset balance, end of period	71,816	67,195	50,464
MSR
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	55,504	66,102	54,714
Purchases/Additions	162,914	13,755	25,028
Sales/Reductions	(36,750)		(9,303)
Total gains or losses (realized or unrealized):
Included in Net Income	(37,926)	(24,353)	(4,337)
Asset balance, end of period	$ 143,742	$ 55,504	$ 66,102

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Dec. 31, 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]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Loans Held-for-sale, Measurement Input [Extensible List]	us-gaap:MeasurementInputPriceVolatilityMember	us-gaap:MeasurementInputPriceVolatilityMember
Loans Held for Sale | Weighted average
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.94	0.95
Loans Held for Sale | Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.91	0.92
Loans Held for Sale | Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.94	0.96
MSR
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
MSR | Constant Prepayment Rate | Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1215	0.1316
MSR | Discount Rate | Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1460	0.1114

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Transfers Between Level 1 and Level 2
Transfers of assets from level 1 to level 2	$ 0	$ 0
Transfers of assets from level 2 to level 1	0	0
Transfers of liabilities from level 1 to level 2	0	0
Transfers of liabilities from level 2 to level 1	0	0
Fair Value Option
Net Gains (Losses)	1,001,059	504,935	$ 445,116
Other Noninterest Income	243,605	186,350	90,396
Loans Held for Sale
Fair Value Option
Net Gains (Losses)	52,296	12,775	(8,063)
Total Changes in Fair Value	52,296	12,775	(8,063)
MSR
Fair Value Option
Net Gains (Losses)	(37,926)	(24,353)	(4,337)
Total Changes in Fair Value	$ (37,926)	$ (24,353)	$ (4,337)

Fair Value Measurements - OREO

Fair Value Measurements - OREO (Details) - Nonrecurring - Estimate of Fair Value - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value
Total losses of other real estate owned	$ 4.4	$ 1.4	$ 2.8
Level 2 | Other Assets
Fair Value
Other real estate owned	$ 21.3	$ 18.2

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial assets:
Held to maturity securities	$ 326,671	$ 388,930
Broker-dealer and clearing organization receivables	1,404,727	1,780,280
Financial liabilities:
Broker-dealer and clearing organization payables	1,368,373	1,605,518
Carrying Amount
Financial assets:
Cash and cash equivalents	1,062,946	434,020
Assets segregated for regulatory purposes	290,357	157,436
Securities purchased under agreements to resell	80,319	59,031
Held to maturity securities	311,944	386,326
Loans held for sale	266,982	170,648
Loans held for investment, net	7,544,097	7,320,264
Broker-dealer and clearing organization receivables	1,404,727	1,780,280
Other assets	74,881	71,040
Financial liabilities:
Deposits	11,242,319	9,032,214
Broker-dealer and clearing organization payables	1,368,373	1,605,518
Short-term borrowings	695,798	1,424,010
Debt	448,999	323,281
Other liabilities	6,133	8,340
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	1,062,946	434,020
Assets segregated for regulatory purposes	290,357	157,436
Securities purchased under agreements to resell	80,319	59,031
Held to maturity securities	326,671	388,930
Loans held for sale	266,982	170,648
Loans held for investment, net	7,788,418	7,567,233
Broker-dealer and clearing organization receivables	1,404,727	1,780,280
Other assets	74,881	71,040
Financial liabilities:
Deposits	11,256,629	9,032,496
Broker-dealer and clearing organization payables	1,368,373	1,605,518
Short-term borrowings	695,798	1,424,010
Debt	448,999	323,281
Other liabilities	6,133	8,340
Estimate of Fair Value | Level 1
Financial assets:
Cash and cash equivalents	1,062,946	434,020
Assets segregated for regulatory purposes	290,357	157,436
Estimate of Fair Value | Level 2
Financial assets:
Securities purchased under agreements to resell	80,319	59,031
Held to maturity securities	326,671	388,930
Loans held for sale	266,982	170,648
Loans held for investment, net	437,007	576,527
Broker-dealer and clearing organization receivables	1,404,727	1,780,280
Other assets	73,111	69,580
Financial liabilities:
Deposits	11,256,629	9,032,496
Broker-dealer and clearing organization payables	1,368,373	1,605,518
Short-term borrowings	695,798	1,424,010
Debt	448,999	323,281
Other liabilities	6,133	8,340
Estimate of Fair Value | Level 3
Financial assets:
Loans held for investment, net	7,351,411	6,990,706
Other assets	$ 1,770	$ 1,460

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 19,771	$ 20,376
Additional investments	500
Upward adjustments	4,188	403
Impairments and downward adjustments	(1,615)	(1,008)
Balance, end of year	22,844	19,771
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 63,600	$ 36,600

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of fair value of trading securities
Debt Securities, Trading	$ 694,255	$ 689,576
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	79,789	43,817
US Treasury Securities
Schedule of fair value of trading securities
Debt Securities, Trading	40,491
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	40	24,680
Residential Mortgage Backed Securities
Schedule of fair value of trading securities
Debt Securities, Trading	336,081	331,601
Commercial mortgage-backed securities
Schedule of fair value of trading securities
Debt Securities, Trading	876	2,145
Collateralized Mortgage Obligations
Schedule of fair value of trading securities
Debt Securities, Trading	69,172	191,154
Corporate debt securities
Schedule of fair value of trading securities
Debt Securities, Trading	62,481	36,973
States and political subdivisions
Schedule of fair value of trading securities
Debt Securities, Trading	171,573	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	8,571	2,992
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 4,970	$ 3,446

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Available for sale
Amortized cost	$ 1,435,919	$ 899,817
Unrealized Gains	28,586	12,702
Unrealized Losses	(2,300)	(1,026)
Fair Value	1,462,205	911,493
Held to maturity
Amortized cost	311,944	386,326
Unrealized Gains	14,727	4,354
Unrealized Losses		(1,750)
Held to maturity, fair value	326,671	388,930
Equity Securities
Unrealized net gains from equity securities	100	100
Equity, at fair value	140	166
Bonds
Available for sale
Amortized cost	82,036	84,590
Unrealized Gains	1,095	1,049
Unrealized Losses	(325)	(64)
Fair Value	82,806	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	624,863	430,514
Unrealized Gains	17,194	6,662
Unrealized Losses	(446)	(147)
Fair Value	641,611	437,029
Held to maturity
Amortized cost	13,547	17,776
Unrealized Gains	708	295
Held to maturity, fair value	14,255	18,071
Commercial mortgage-backed securities
Available for sale
Amortized cost	124,929	11,488
Unrealized Gains	768	543
Unrealized Losses	(1,159)
Fair Value	124,538	12,031
Held to maturity
Amortized cost	152,820	161,624
Unrealized Gains	9,205	2,810
Unrealized Losses		(655)
Held to maturity, fair value	162,025	163,779
Collateralized Mortgage Obligations
Available for sale
Amortized cost	559,362	333,256
Unrealized Gains	6,916	3,175
Unrealized Losses	(370)	(815)
Fair Value	565,908	335,616
Held to maturity
Amortized cost	74,932	113,894
Unrealized Gains	2,036	226
Unrealized Losses		(904)
Held to maturity, fair value	76,968	113,216
States and political subdivisions
Available for sale
Amortized cost	44,729	39,969
Unrealized Gains	2,613	1,273
Fair Value	47,342	41,242
Held to maturity
Amortized cost	70,645	69,012
Unrealized Gains	2,778	1,013
Unrealized Losses		(156)
Held to maturity, fair value	$ 73,423	$ 69,869

Securities - AFS in an Unrealiz

Securities - AFS in an Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Number of Securities
Unrealized loss for less than twelve months | item	43	55
Unrealized loss for twelve months or longer | item	5	16
Total | item	48	71
Fair Value
Unrealized loss for less than twelve months	$ 353,961	$ 165,636
Unrealized loss for twelve months or longer	13,611	60,387
Total	367,572	226,023
Unrealized Loss
Unrealized loss for less than twelve months	2,254	599
Unrealized loss for twelve months or longer	46	427
Total	$ 2,300	$ 1,026
Bonds
Number of Securities
Unrealized loss for less than twelve months | item	8	2
Total | item	8	2
Fair Value
Unrealized loss for less than twelve months	$ 60,298	$ 24,937
Total	60,298	24,937
Unrealized Loss
Unrealized loss for less than twelve months	325	64
Total	$ 325	$ 64
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months | item	15	37
Unrealized loss for twelve months or longer | item		2
Total | item	15	39
Fair Value
Unrealized loss for less than twelve months	$ 86,287	$ 36,187
Unrealized loss for twelve months or longer		13,683
Total	86,287	49,870
Unrealized Loss
Unrealized loss for less than twelve months	429	87
Unrealized loss for twelve months or longer		58
Total	$ 429	$ 145
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months | item	10	1
Total | item	10	1
Fair Value
Unrealized loss for less than twelve months	$ 105,386	$ 9,967
Total	105,386	9,967
Unrealized Loss
Unrealized loss for less than twelve months	1,176	2
Total	$ 1,176	$ 2
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months | item	10	15
Unrealized loss for twelve months or longer | item	5	13
Total | item	15	28
Fair Value
Unrealized loss for less than twelve months	$ 101,990	$ 94,545
Unrealized loss for twelve months or longer	13,611	46,217
Total	115,601	140,762
Unrealized Loss
Unrealized loss for less than twelve months	324	446
Unrealized loss for twelve months or longer	46	369
Total	$ 370	$ 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	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Number of Securities
Unrealized loss for less than twelve months | item	2	52
Unrealized loss for twelve months or longer | item		12
Total | item	2	64
Fair Value
Unrealized loss for less than twelve months	$ 578	$ 94,175
Unrealized loss for twelve months or longer		60,659
Total	$ 578	154,834
Unrealized Losses
Unrealized loss for less than twelve months		1,102
Unrealized loss for twelve months or longer		648
Total		$ 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	2	38
Unrealized loss for twelve months or longer | item		4
Total | item	2	42
Fair Value
Unrealized loss for less than twelve months	$ 578	$ 15,996
Unrealized loss for twelve months or longer		1,099
Total	$ 578	17,095
Unrealized Losses
Unrealized loss for less than twelve months		124
Unrealized loss for twelve months or longer		31
Total		$ 155

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 4,999
Due after one year through five years	61,182
Due after five years through ten years	17,537
Due after ten years	43,047
Total	126,765
Amortized cost	1,435,919	$ 899,817
AFS, Fair Value, Rolling Maturity
Due in one year or less	5,072
Due after one year through five years	62,636
Due after five years through ten years	18,179
Due after ten years	44,261
Total	130,148
Fair Value	1,462,205	911,493
Residential Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	624,863
Amortized cost	624,863	430,514
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	641,611
Fair Value	641,611	437,029
Collateralized Mortgage Obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	559,362
Amortized cost	559,362	333,256
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	565,908
Fair Value	565,908	335,616
Commercial mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	124,929
Amortized cost	124,929	11,488
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	124,538
Fair Value	$ 124,538	$ 12,031

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 645
Due after one year through five years	1,225
Due after five years through ten years	8,205
Due after ten years	60,570
Total	70,645
Amortized cost	311,944	$ 386,326
HTM, Fair Value, Rolling Maturities
Due in one year or less	646
Due after one year through five years	1,273
Due after five years through ten years	8,525
Due after ten years	62,979
Total	73,423
Fair Value	326,671	388,930
Residential Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	13,547
Amortized cost	13,547	17,776
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	14,255
Fair Value	14,255	18,071
Collateralized Mortgage Obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	74,932
Amortized cost	74,932	113,894
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	76,968
Fair Value	76,968	113,216
Commercial mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	152,820
Amortized cost	152,820	161,624
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	162,025
Fair Value	$ 162,025	$ 163,779

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Securities
Realized net gains (losses) from trading securities portfolio	$ 122	$ 20.5	$ 6.2
Realized net gains (losses) from other securities	0.2	(2.5)
Carrying amount of securities pledged	712.3	576
Fair value of securities pledged	733.8	583.6
Hilltop Broker-Dealers
Securities
Realized net gains (losses) from trading securities portfolio	$ 77.1	$ 132.7	$ 41.9

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans
Total loans	$ 7,693,141	$ 7,381,400
Allowance for loan losses	(149,044)	(61,136)	$ (59,486)	$ (63,686)
Loans held for investment, net	7,544,097	7,320,264
Commercial Real Estate
Loans
Total loans	3,133,903	3,000,523
Allowance for loan losses	(109,629)	(31,595)	(27,100)	(27,232)
Commercial and Industrial
Loans
Total loans	2,627,774	2,025,720
Allowance for loan losses	(27,703)	(17,964)	(21,980)	(23,698)
Commercial and Industrial | Loans Funded Through Paycheck Protection Program
Loans
Total loans	486,700
Construction and land development
Loans
Total loans	828,852	940,564
Allowance for loan losses	(6,677)	(4,878)	(6,061)	(7,847)
1 - 4 family residential
Loans
Total loans	629,938	791,020
Allowance for loan losses	(3,946)	(6,386)	(3,956)	(4,245)
Consumer
Loans
Total loans	35,667	47,046
Allowance for loan losses	(876)	(265)	(267)	(311)
Broker-dealer
Loans
Total loans	437,007	576,527
Allowance for loan losses	$ (213)	$ (48)	$ (122)	$ (353)

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-accrual loans
Non-accrual Loans With Allowance	$ 20,363
Non-accrual Loans With No Allowance	46,731
Non-accrual loans	67,094	$ 31,294
Interest Income Recognized	5,821	$ 1,600	$ 1,400
Addition of loans in non-accrual status	35,800
Commercial Real Estate
Non-accrual loans
Addition of loans in non-accrual status	3,800
Amount of non-accrual loans increase during the period, including loans previously categorized	8,400
Number of previous loans included in non-accrual		6,800
Nonaccrual loans resolved during the period	4,500
Non-accrual status, reserve	1,100
Commercial Real Estate | Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	1,213
Non-accrual Loans With No Allowance	445
Non-accrual loans	1,658	$ 3,813
Interest Income Recognized	1,364
Commercial Real Estate | Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	3,473
Non-accrual Loans With No Allowance	6,002
Non-accrual loans	9,475	3,495
Interest Income Recognized	295
Commercial and Industrial
Non-accrual loans
Non-accrual Loans With Allowance	10,821
Non-accrual Loans With No Allowance	23,228
Non-accrual loans	34,049	15,262
Interest Income Recognized	2,362
Amount of non-accrual loans increase during the period, including loans previously categorized	18,900
Non-accrual status, reserve	7,900
Commercial and Industrial | ASU 2016-13
Non-accrual loans
CECL transition gross-up adjustment		4,300
Construction and land development
Non-accrual loans
Non-accrual Loans With Allowance	102
Non-accrual Loans With No Allowance	405
Non-accrual loans	507	1,316
Interest Income Recognized	110
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	4,726
Non-accrual Loans With No Allowance	16,651
Non-accrual loans	21,377	7,382
Interest Income Recognized	1,568
Amount of non-accrual loans increase during the period, including loans previously categorized	17,100
Previously categorized loans included in non-accrual		15,000
Nonaccrual loans resolved during the period	3,200
Non-accrual status, reserve	700
1 - 4 family residential | Secured by Residential Properties
Non-accrual loans
Non-accrual loans held for sale	10,900	4,800
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	28
Non-accrual loans	28	$ 26
Interest Income Recognized	$ 122

Loans Held for Investment - TDR

Loans Held for Investment - TDRs (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Dec. 31, 2018loan
TDRs, Non-covered loans
COVID-19 related loan modifications	$ 968,000,000	$ 75,000,000
COVID-19 loans modified and in deferral period		240,000,000	$ 240,000,000
COVID-19 loans modified with an extended deferral period		90,000,000	90,000,000
COVID-19 loans modified which have returned to agreed upon contractual terms		$ 714,000,000	$ 714,000,000
Number of TDR loans granted			8	4	0
TDR at extension			$ 9,902,000	$ 9,618,000
TDR modifications, in which a payment was at least 30 days past due			$ 4,554,000	$ 8,566,000
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due | loan			0	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
Commercial and Industrial | Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted			3	4
TDR at extension			$ 9,464,000	$ 9,618,000
TDR modifications, in which a payment was at least 30 days past due			$ 4,116,000	$ 8,566,000
1 - 4 family residential | Payment Term Extension
TDRs, Non-covered loans
Number of TDR loans granted			5
TDR at extension			$ 438,000
TDR modifications, in which a payment was at least 30 days past due			$ 438,000

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	$ 45,912	$ 55,823
Current Loans	7,647,229	7,325,577
Total loans	7,693,141	7,381,400
Accruing Loans Past Due 90 Days or More	6	3
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	13,529	31,935
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	4,092	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	28,291	15,970
Prime Lending
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Repurchase under a forbearance agreement	198,800
Prime Lending | U S Government Agencies Secured
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Accruing Loans Past Due 90 Days or More	243,600	102,700
Unpaid principal balance loans past due 90 days or more	245,500	104,000
Commercial Real Estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	3,133,903	3,000,523
Commercial Real Estate | Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	2,118	6,852
Current Loans	1,786,193	1,702,500
Total loans	1,788,311	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	1,919	4,062
Commercial Real Estate | Non-owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	199	2,790
Commercial Real Estate | Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	9,045	5,958
Current Loans	1,336,547	1,285,213
Total loans	1,345,592	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	195	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	522	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	8,328	3,265
Commercial and Industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	10,839	11,097
Current Loans	2,616,935	2,014,623
Total loans	2,627,774	2,025,720
Accruing Loans Past Due 90 Days or More	6	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	3,114	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	407	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	7,318	3,395
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	19	9,407
Current Loans	828,833	931,157
Total loans	828,852	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	19	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	23,570	22,020
Current Loans	606,368	769,000
Total loans	629,938	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	8,110	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	3,040	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	12,420	6,520
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	321	489
Current Loans	35,346	46,557
Total loans	35,667	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	172	455
Consumer | Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total Past Due Loans	123	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	26
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Current Loans	437,007	576,527
Total loans	$ 437,007	$ 576,527

Loans Held for Investment - Int

Loans Held for Investment - Internal Risk Grades (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Internal risk grades of non-covered loans
2020	$ 1,848,876
2019	1,062,690
2018	814,006
2017	483,170
2016	469,543
2015 and Prior	521,082
Financing Receivable, Revolving	777,246
Total loans with credit quality measures	5,976,613
Total loans	7,693,141	$ 7,381,400
Commercial Real Estate
Internal risk grades of non-covered loans
Total loans	3,133,903	3,000,523
Commercial Real Estate | Non-owner occupied
Internal risk grades of non-covered loans
Total loans	1,788,311	1,709,352
Commercial Real Estate | Non-owner occupied | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	21,135
2019	22,913
2018	3,171
2017	2,735
2016	12,896
2015 and Prior	15,263
Financing Receivable, Revolving	1
Total loans with credit quality measures	78,114
Commercial Real Estate | Non-owner occupied | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	245,833
2019	138,836
2018	83,951
2017	88,119
2016	108,371
2015 and Prior	64,200
Financing Receivable, Revolving	47,920
Total loans with credit quality measures	777,230
Commercial Real Estate | Non-owner occupied | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	227,440
2019	133,246
2018	122,022
2017	99,473
2016	108,536
2015 and Prior	64,031
Financing Receivable, Revolving	488
Total loans with credit quality measures	755,236
Commercial Real Estate | Non-owner occupied | Internal Grade 13
Internal risk grades of non-covered loans
2020	34,020
2019	16,139
2018	29,166
2017	29,810
2016	33,353
2015 and Prior	33,467
Financing Receivable, Revolving	118
Total loans with credit quality measures	176,073
Commercial Real Estate | Non-owner occupied | Internal Grade 14
Internal risk grades of non-covered loans
2015 and Prior	1,658
Total loans with credit quality measures	1,658
Commercial Real Estate | Owner occupied
Internal risk grades of non-covered loans
Total loans	1,345,592	1,291,171
Commercial Real Estate | Owner occupied | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	60,809
2019	21,011
2018	12,712
2017	44,163
2016	21,567
2015 and Prior	37,688
Financing Receivable, Revolving	1
Total loans with credit quality measures	197,951
Commercial Real Estate | Owner occupied | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	164,939
2019	169,582
2018	131,821
2017	56,801
2016	53,811
2015 and Prior	75,372
Financing Receivable, Revolving	39,868
Total loans with credit quality measures	692,194
Commercial Real Estate | Owner occupied | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	118,328
2019	80,375
2018	49,601
2017	23,588
2016	23,330
2015 and Prior	30,249
Financing Receivable, Revolving	1,291
Total loans with credit quality measures	326,762
Commercial Real Estate | Owner occupied | Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2020	365
2018	3,691
2015 and Prior	527
Total loans with credit quality measures	4,583
Commercial Real Estate | Owner occupied | Internal Grade 13
Internal risk grades of non-covered loans
2020	8,372
2019	5,620
2018	69,617
2017	10,315
2016	8,663
2015 and Prior	12,040
Total loans with credit quality measures	114,627
Commercial Real Estate | Owner occupied | Internal Grade 14
Internal risk grades of non-covered loans
2020	506
2019	1,259
2018	441
2017	5,345
2016	1,045
2015 and Prior	879
Total loans with credit quality measures	9,475
Commercial and Industrial
Internal risk grades of non-covered loans
Total loans	2,627,774	2,025,720
Commercial and Industrial | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	30,754
2019	27,144
2018	7,149
2017	5,486
2016	3,587
2015 and Prior	335
Financing Receivable, Revolving	21,651
Total loans with credit quality measures	96,106
Commercial and Industrial | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	179,394
2019	54,423
2018	53,908
2017	29,778
2016	24,179
2015 and Prior	10,945
Financing Receivable, Revolving	395,320
Total loans with credit quality measures	747,947
Commercial and Industrial | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	95,835
2019	62,411
2018	20,162
2017	13,459
2016	13,885
2015 and Prior	2,144
Financing Receivable, Revolving	197,273
Total loans with credit quality measures	405,169
Commercial and Industrial | Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2020	757
2019	14
2018	3,723
2016	152
Financing Receivable, Revolving	2,093
Total loans with credit quality measures	6,739
Commercial and Industrial | Internal Grade 13
Internal risk grades of non-covered loans
2020	9,863
2019	3,689
2018	13,788
2017	5,531
2016	5,759
2015 and Prior	253
Financing Receivable, Revolving	19,360
Total loans with credit quality measures	58,243
Commercial and Industrial | Internal Grade 14
Internal risk grades of non-covered loans
2020	25,107
2019	5,084
2018	2,021
2017	315
2016	16
2015 and Prior	98
Financing Receivable, Revolving	1,408
Total loans with credit quality measures	34,049
Commercial and Industrial | Mortgage Warehouse Lending
Internal risk grades of non-covered loans
Total loans with credit quality measures	792,806
Commercial and Industrial | Loans Funded Through Paycheck Protection Program
Internal risk grades of non-covered loans
Total loans with credit quality measures	486,715
Total loans	486,700
Construction and land development
Internal risk grades of non-covered loans
Total loans	828,852	940,564
Construction and land development | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	557
2018	1,253
Total loans with credit quality measures	1,810
Construction and land development | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	13,207
2018	2,539
Total loans with credit quality measures	15,746
Construction and land development | Other
Internal risk grades of non-covered loans
2020	1,224
Total loans with credit quality measures	1,224
Construction and land development | Internal Grade 1-3
Internal risk grades of non-covered loans
2020	15,764
2019	2,710
2018	4,176
2017	264
2016	4,129
2015 and Prior	331
Financing Receivable, Revolving	624
Total loans with credit quality measures	27,998
Construction and land development | Internal Grade 4-7
Internal risk grades of non-covered loans
2020	202,624
2019	103,864
2018	63,135
2017	3,210
2016	2,596
2015 and Prior	3,142
Financing Receivable, Revolving	28,387
Total loans with credit quality measures	406,958
Construction and land development | Internal Grade 8-11
Internal risk grades of non-covered loans
2020	194,432
2019	97,206
2018	47,102
2017	9,659
2016	3,552
2015 and Prior	544
Financing Receivable, Revolving	7,951
Total loans with credit quality measures	360,446
Construction and land development | Internal Grade 13
Internal risk grades of non-covered loans
2020	8,684
2019	29
2017	5,385
2015 and Prior	65
Total loans with credit quality measures	14,163
Construction and land development | Internal Grade 14
Internal risk grades of non-covered loans
2019	405
2015 and Prior	102
Total loans with credit quality measures	507
1 - 4 family residential
Internal risk grades of non-covered loans
Total loans	629,938	791,020
1 - 4 family residential | FICO Score, Less than 620
Internal risk grades of non-covered loans
2020	1,109
2019	819
2018	3,674
2017	56
2016	883
2015 and Prior	32,077
Financing Receivable, Revolving	318
Total loans with credit quality measures	38,936
1 - 4 family residential | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	17,269
2019	18,461
2018	9,545
2017	8,714
2016	8,171
2015 and Prior	41,625
Financing Receivable, Revolving	1,289
Total loans with credit quality measures	105,074
1 - 4 family residential | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	125,094
2019	80,688
2018	65,975
2017	37,943
2016	29,171
2015 and Prior	70,815
Financing Receivable, Revolving	5,313
Total loans with credit quality measures	414,999
1 - 4 family residential | Substandard non-accrual
Internal risk grades of non-covered loans
2017	96
2016	714
2015 and Prior	20,567
Total loans with credit quality measures	21,377
1 - 4 family residential | Other
Internal risk grades of non-covered loans
2020	27,407
2019	10,085
2018	5,998
2017	1,899
2016	920
2015 and Prior	2,529
Financing Receivable, Revolving	714
Total loans with credit quality measures	49,552
Consumer
Internal risk grades of non-covered loans
Total loans	35,667	47,046
Consumer | FICO Score, Less than 620
Internal risk grades of non-covered loans
2020	955
2019	1,235
2018	106
2017	128
2016	43
2015 and Prior	22
Financing Receivable, Revolving	334
Total loans with credit quality measures	2,823
Consumer | FICO Score, 620 to 720
Internal risk grades of non-covered loans
2020	5,194
2019	2,627
2018	478
2017	536
2016	118
2015 and Prior	79
Financing Receivable, Revolving	2,157
Total loans with credit quality measures	11,189
Consumer | FICO Score, Greater than 720
Internal risk grades of non-covered loans
2020	6,849
2019	1,674
2018	2,952
2017	292
2016	60
2015 and Prior	34
Financing Receivable, Revolving	3,054
Total loans with credit quality measures	14,915
Consumer | Substandard non-accrual
Internal risk grades of non-covered loans
2017	27
2015 and Prior	1
Total loans with credit quality measures	28
Consumer | Other
Internal risk grades of non-covered loans
2020	5,050
2019	1,141
2018	129
2017	43
2016	36
Financing Receivable, Revolving	313
Total loans with credit quality measures	6,712
Broker-dealer
Internal risk grades of non-covered loans
Total loans with credit quality measures	437,007
Total loans	$ 437,007	$ 576,527

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses
Available for sale debt securities past due		$ 0
Allowance for credit losses		149,044	$ 61,136	$ 59,486	$ 63,686
Increase in allowance on individually evaluated loans		20,200
Increase in allowance on collectively evaluated loans		$ 76,100
Allowance for Loan and Lease Losses Write-offs, Net	$ 21,100
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjusted Balance
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

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				$ 61,136				$ 59,486	$ 61,136	$ 59,486	$ 63,686
Provision for (reversal of) credit losses	$ (3,482)	$ (602)	$ 66,026	34,549	$ 6,880	$ 47	$ (672)	951	96,491	7,206	5,088
Loans charged off									(24,040)	(8,489)	(13,777)
Recoveries on charged off loans									2,895	2,933	4,489
Balance, end of the year	149,044				61,136				149,044	61,136	59,486
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				12,562					12,562
Balance, end of the year					12,562					12,562
Commercial Real Estate
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				31,595				27,100	31,595	27,100	27,232
Provision for (reversal of) credit losses									73,865	5,649	668
Loans charged off									(4,517)	(1,160)	(800)
Recoveries on charged off loans									613	6
Balance, end of the year	109,629				31,595				109,629	31,595	27,100
Commercial Real Estate | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				8,073					8,073
Balance, end of the year					8,073					8,073
Commercial and Industrial
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				17,964				21,980	17,964	21,980	23,698
Provision for (reversal of) credit losses									22,870	(921)	6,750
Loans charged off									(18,158)	(5,924)	(12,741)
Recoveries on charged off loans									1,834	2,829	4,273
Balance, end of the year	27,703				17,964				27,703	17,964	21,980
Commercial and Industrial | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				3,193					3,193
Balance, end of the year					3,193					3,193
Construction and land development
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				4,878				6,061	4,878	6,061	7,847
Provision for (reversal of) credit losses									1,222	(1,183)	(1,792)
Loans charged off									(2)
Recoveries on charged off loans									2		6
Balance, end of the year	6,677				4,878				6,677	4,878	6,061
Construction and land development | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				577					577
Balance, end of the year					577					577
1 - 4 family residential
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				6,386				3,956	6,386	3,956	4,245
Provision for (reversal of) credit losses									(1,717)	3,276	(292)
Loans charged off									(748)	(907)	(143)
Recoveries on charged off loans									54	61	146
Balance, end of the year	3,946				6,386				3,946	6,386	3,956
1 - 4 family residential | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				(29)					(29)
Balance, end of the year					(29)					(29)
Consumer
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				265				267	265	267	311
Provision for (reversal of) credit losses									86	459	(15)
Loans charged off									(615)	(498)	(93)
Recoveries on charged off loans									392	37	64
Balance, end of the year	876				265				876	265	267
Consumer | ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				748					748
Balance, end of the year					748					748
Broker-dealer
Changes in the allowance for loan losses for loans held for investments
Balance, beginning of the year				$ 48				$ 122	48	122	353
Provision for (reversal of) credit losses									165	(74)	(231)
Balance, end of the year	$ 213				$ 48				$ 213	$ 48	$ 122

Allowance for Credit Losses - O

Allowance for Credit Losses - Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of year	$ 2,075	$ 2,366	$ 1,932
Transition adjustment CECL accounting standard	3,837
Other noninterest expense	(2,476)	291	(434)
Balance, end of year	8,388	2,075	$ 2,366
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjusted Balance
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of year	$ 5,900
Balance, end of year		$ 5,900

Cash and Due from Banks (Detail

Cash and Due from Banks (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and Due from Banks
Cash on hand	$ 45,207	$ 39,590
Clearings and collection items	82,396	129,055
Deposits at Federal Reserve Bank	874,998	232,019
Deposits at Federal Home Loan Bank	1,607	1,458
Deposits in FDIC-insured institutions	58,352	31,504
Cash and due from banks	1,062,560	433,626	$ 598,999
Interest-bearing deposits	$ 878,000	$ 235,400

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premises and Equipment
Premises and equipment, gross	$ 383,511	$ 395,914
Less accumulated depreciation and amortization	(171,916)	(185,539)
Premises and equipment, net	211,595	210,375
Gross assets under finance leases	7,780	7,780
Accumulated amortization for assets under finance leases	4,768	4,178
Rental income	1,700	2,700	$ 1,400
Depreciation and amortization expense	27,900	27,300	$ 30,800
Land and premises
Premises and Equipment
Premises and equipment, gross	125,701	130,312
Furniture and equipment
Premises and Equipment
Premises and equipment, gross	$ 257,810	$ 265,602

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill and Other (Details) - USD ($) $ in Thousands	Aug. 01, 2018	Nov. 30, 2012	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Other Intangible Assets
Carrying amount of goodwill			$ 267,447	$ 267,447
Other intangible assets, net			$ 20,364	$ 26,666
PPC
Goodwill and Other Intangible Assets
Goodwill in connection with acquisition		$ 227,800
BORO
Goodwill and Other Intangible Assets
Carrying amount of goodwill	$ 39,627
Goodwill in connection with acquisition	$ 39,600

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 85,040	$ 85,040
Accumulated Amortization	(64,676)	(58,374)
Net Intangible Assets	20,364	26,666
Amortization expense related to intangible assets	6,301	7,567	$ 8,026
Core Deposits
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	48,930	48,930
Accumulated Amortization	(40,997)	(36,576)
Net Intangible Assets	$ 7,933	$ 12,354
Core Deposits | Minimum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	4 years	4 years
Core Deposits | Maximum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	12 years	12 years
Trademarks and Trade Names
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 16,500	$ 16,500
Accumulated Amortization	(7,563)	(6,812)
Net Intangible Assets	$ 8,937	$ 9,688
Estimated Useful Life	20 years	20 years
Noncompete Agreements
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 4,310	$ 4,310
Accumulated Amortization	$ (4,310)	$ (4,310)
Estimated Useful Life	4 years	4 years
Customer contracts and relationships
Carrying value of intangible assets subject to amortization
Gross Intangible Assets	$ 15,300	$ 15,300
Accumulated Amortization	(11,806)	(10,676)
Net Intangible Assets	$ 3,494	$ 4,624
Customer contracts and relationships | Minimum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	12 years	12 years
Customer contracts and relationships | Maximum
Carrying value of intangible assets subject to amortization
Estimated Useful Life	14 years	14 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Estimated aggregate future amortization expense for intangible assets
2021	$ 5,080
2022	3,967
2023	2,860
2024	1,826
2025	1,028
Thereafter	5,603
Net Intangible Assets	$ 20,364	$ 26,666

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in fair value of mortgage servicing rights
Balance, beginning of year	$ 55,504	$ 66,102	$ 54,714
Additions	162,914	13,755	25,028
Sales	(36,750)		(9,303)
Changes in fair value: Due to changes in model inputs or assumptions	(27,261)	(16,054)	159
Changes in fair value: Due to customer payoffs	(10,665)	(8,299)	(4,496)
Balance, end of year	143,742	55,504	$ 66,102
Mortgage loans serviced for others	$ 14,643,623	$ 4,948,441
MSR asset as a percentage of serviced mortgage loans	0.98%	1.12%
MSR
Key Assumptions
Weighted average constant prepayment rate (as a percent)	12.15%	13.16%
Weighted average discount rate (as a percent)	14.60%	11.14%
Weighted average life (in years)	6 years 3 months 18 days	6 years

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - MSR - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (5,639)	$ (3,072)
Constant prepayment rate: Impact of 20% adverse change	(11,164)	(5,943)
Discount rate: Impact of 10% adverse change	(6,435)	(2,094)
Discount rate: Impact of 20% adverse change	(12,287)	(4,028)
Contractually specified servicing fees, late fees and ancillary fees	$ 35,400	$ 25,300	$ 23,300

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits
Noninterest-bearing demand	$ 3,612,384	$ 2,769,556
Interest-bearing:
Demand	2,399,341	1,881,614
Brokered - demand	282,426
Money market	2,716,878	2,641,116
Brokered - money market	124,243	5,000
Savings	276,327	199,076
Time	1,506,435	1,505,375
Brokered - time	324,285	30,477
Total deposits	11,242,319	$ 9,032,214
Time deposits that meet or exceed FDIC insurance limit	1,100,000
Scheduled maturities of interest-bearing time deposits
2021	1,600,039
2022	148,404
2023	49,026
2024	22,091
2025 and thereafter	11,160
Time deposits	$ 1,830,720

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)
Short-term borrowings
Short-term borrowings	$ 695,798	$ 1,424,010
Hilltop Broker-Dealers
Short-term borrowings
Weighted average interest rate on short-term bank loan borrowings (as a percent)	0.00%	2.52%
Federal Funds Purchased.
Short-term borrowings
Short-term borrowings	$ 180,325	$ 81,625
Securities Sold under Agreements to Repurchase
Short-term borrowings
Short-term borrowings	237,856	612,125
FHLB notes
Short-term borrowings
Short-term borrowings		600,000
Average balance during the period	$ 38,634	$ 329,356	$ 214,110
Average interest rate during the period	1.63%	2.16%	2.09%
Maximum month-end balance during the year	$ 150,000	$ 700,000	$ 675,000
Average interest rate at end of period (as a percent)		1.56%
Amount of available collateral	$ 4,400,000
FHLB notes | Maximum
Short-term borrowings
Maturity term of debt	365 days
Short Term Bank Loans.
Short-term borrowings
Short-term borrowings		$ 111,000
Commercial paper
Short-term borrowings
Short-term borrowings	$ 277,617	$ 19,260
Number of commercial paper programs initiated | item		2
Weighted average maturity term	146 days
Weighted average interest rate on short-term bank loan borrowings (as a percent)	1.23%
Weighted average remaining life	70 days
Debt instrument, collateral	$ 296,300
Commercial paper | Minimum
Short-term borrowings
Maturity term of debt		14 days
Commercial paper | Maximum
Short-term borrowings
Maturity term of debt		270 days
Series 2019-1 CP Notes
Short-term borrowings
Maximum borrowing capacity		$ 300,000
Series 2019-2 CP Notes
Short-term borrowings
Maximum borrowing capacity		200,000
Federal Funds Purchased and Securities Sold under Agreements to Repurchase
Short-term borrowings
Average balance during the period	$ 509,577	$ 605,858	$ 701,622
Average interest rate during the period	0.89%	2.48%	1.96%
Maximum month-end balance during the year	$ 714,507	$ 693,750	$ 849,568
Average interest rate at end of period (as a percent)	0.25%	1.97%
Securities underlying the agreements at end of period: Carrying value	$ 237,913	$ 612,515
Securities underlying the agreements at end of period: Estimated fair value	$ 262,554	$ 661,023

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Thousands	May 07, 2020	Jun. 22, 2015	Apr. 09, 2015	Dec. 31, 2020	Dec. 31, 2019	Apr. 28, 2015
Debt Instrument
Notes payable				$ 381,987	$ 256,269
Series B Preferred Stock
Debt Instrument
Aggregate liquidation value						$ 114,100
Unpaid dividend						$ 400
Senior Notes due April 2025
Debt Instrument
Notes payable				148,937	148,768
Unamortized discount				1,063	1,232
Period before maturity for redemption of Senior Notes		3 months
Interest rate (as a percent)		5.00%
Percentage of redemption price		100.00%
Senior Notes due April 2025 | Private Placement
Debt Instrument
Aggregate principal amount			$ 150,000
Interest rate (as a percent)			5.00%
Net proceeds from the offering, after deducting estimated fee and expenses and the initial purchaser' discounts			$ 148,000
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				49,207
Unamortized discount				793
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				147,608
Unamortized discount				2,392
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 premium				0	146
Ventures Management lines of credit
Debt Instrument
Notes payable				36,235	$ 78,653
Maximum borrowing capacity				170,000
Outstanding borrowing				$ 47,500
Calculated index rate (as a percent)				3.27%
Single unaffiliated bank
Debt Instrument
Maximum borrowing capacity				$ 80,000
Bank
Debt Instrument
Maximum borrowing capacity				90,000
Outstanding borrowing				$ 11,300
Bank | Minimum
Debt Instrument
Interest rate (as a percent)				3.13%
Bank | Maximum
Debt Instrument
Interest rate (as a percent)				3.75%

Notes Payable - Scheduled Matur

Notes Payable - Scheduled Maturities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Scheduled maturities
2021	$ 36,235
2025	150,000
Thereafter	200,000
Total Notes Payable	$ 386,235

Lease - Narrative (Details)

Lease - Narrative (Details)	12 Months Ended
	Dec. 31, 2020
Leases
Option to extend period - Operating	10 years
Option to extend period - Finance	10 years
Option to extend - Operating	true
Option to extend - Finance	true
Option to terminate period - Operating	1 year
Option to terminate period - Finance	1 year
Option to terminate - Operating	true
Option to terminate - Finance	true

Lease - Supplemental balance sh

Lease - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(4,768)	(4,178)
Premises and equipment, net	$ 3,012	$ 3,602

Lease - Components of lease cos

Lease - Components of lease costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Components of operating lease costs
Operating lease cost	$ 41,903	$ 44,331
Less operating lease and sublease income	(1,676)	(2,657)
Net operating lease cost	40,227	41,674
Amortization of ROU assets	590	590
Interest on lease liabilities	561	596
Total finance lease cost	$ 1,151	$ 1,186

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases
Operating cash flows from operating leases	$ 31,850	$ 37,527
Operating cash flows from finance leases	561	587
Financing cash flows from finance leases	636	603
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 11,723	$ 27,055

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 6 months	5 years 10 months 24 days
Finance - Weighted Average Remaining Lease Term (Years)	5 years 7 months 6 days	6 years 6 months
Operating - Weighted Average Discount Rate	4.67%	5.29%
Finance - Weighted Average Discount Rate	4.81%	4.79%

Lease - Lease maturities - ASC

Lease - Lease maturities - ASC 842 (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating leases maturities
2021	$ 36,132
2022	28,189
2023	22,645
2024	15,395
2025	11,177
Thereafter	29,636
Total minimum lease payments	143,174
Less amount representing interest	(17,724)
Lease liabilities	125,450	$ 125,619
Finance Leases maturities:
2021	1,212
2022	1,241
2023	1,280
2024	1,163
2025	886
Thereafter	1,411
Total minimum lease payments	7,193
Less amount representing interest	(2,334)
Lease liabilities	$ 4,859

Lease - Operating leases that h

Lease - Operating leases that have not yet commenced (Details) $ in Millions	Dec. 31, 2020USD ($)
Leases
Additional operating leases that have not yet commenced	$ 22.9
Minimum
Leases
Expected to commence	2 years
Maximum
Leases
Expected to commence	11 years

Junior Subordinated Debenture_3

Junior Subordinated Debentures and Trust Preferred Securities (Details)	12 Months Ended
	Dec. 31, 2020USD ($)item	Feb. 22, 2008USD ($)	Sep. 17, 2003USD ($)	Mar. 26, 2003USD ($)	Jul. 31, 2001USD ($)
PPC
Junior subordinated debentures and trust preferred securities
Number of statutory trusts owned by subsidiary | item	4
PPC | Variable Interest Entity, Not Primary Beneficiary | Junior Subordinated Debt | Four statutory trusts
Junior subordinated debentures and trust preferred securities
Stated term	30 years
Average interest rate (as a percent)	3.45%
PPC | Variable Interest Entity, Not Primary Beneficiary | Junior Subordinated Debt | Four statutory trusts | three-month LIBOR
Junior subordinated debentures and trust preferred securities
Margin on interest rate	3-month LIBOR
Average spread on variable rate basis (as a percent)	3.22%
PPC | Variable Interest Entity, Not Primary Beneficiary | Junior Subordinated Debt | P C C Statutory Trust I
Junior subordinated debentures and trust preferred securities
Amount					$ 18,042,000
PPC | Variable Interest Entity, Not Primary Beneficiary | Junior Subordinated Debt | P C C Statutory Trust I I
Junior subordinated debentures and trust preferred securities
Amount				$ 18,042,000
PPC | Variable Interest Entity, Not Primary Beneficiary | Junior Subordinated Debt | P C C Statutory Trust I I I
Junior subordinated debentures and trust preferred securities
Amount			$ 15,464,000
PPC | Variable Interest Entity, Not Primary Beneficiary | Junior Subordinated Debt | PCC Statutory Trust IV
Junior subordinated debentures and trust preferred securities
Amount		$ 15,464,000
PPC | Variable Interest Entity, Not Primary Beneficiary | Preferred Class A [Member] | Four statutory trusts
Junior subordinated debentures and trust preferred securities
Floating rate preferred securities issued by the trusts	$ 65,000,000
PPC | Variable Interest Entity, Not Primary Beneficiary | Common Class A [Member] | Four statutory trusts
Junior subordinated debentures and trust preferred securities
Floating rate preferred securities issued by the trusts	$ 2,012,000
PPC | CONNECTICUT
Junior subordinated debentures and trust preferred securities
Number of statutory trusts owned by subsidiary, which were formed under laws of state | item	3
PCC Statutory Trust IV | Delaware
Junior subordinated debentures and trust preferred securities
Number of statutory trusts owned by subsidiary, which were formed under laws of state | item	1

Income Taxes - Provision (Detai

Income Taxes - Provision (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal									$ 97,338	$ 58,562	$ 18,977
State									19,150	9,215	2,241
Total									116,488	67,777	21,218
Deferred:
Federal									13,325	(2,690)	11,153
State									3,258	(1,373)	1,856
Total									16,583	(4,063)	13,009
Income tax provision (benefit)	$ 39,295	$ 46,820	$ 31,808	$ 15,148	$ 13,579	$ 21,472	$ 18,526	$ 10,137	$ 133,071	$ 63,714	$ 34,227
Statutory Federal income tax rate (as a percent)									21.00%	21.00%	21.00%
Reconciliation of the income tax provision (benefit) and the amount that would be computed by applying the statutory federal income tax rate to income (loss) before income taxes
Computed tax at federal statutory rate									$ 118,629	$ 59,392	$ 32,572
Tax effect of:
Nondeductible expenses									2,304	2,681	1,373
State income taxes									17,702	6,195	3,236
Tax-exempt income, net									(1,706)	(1,727)	(1,432)
Minority interest									(4,587)	(1,614)	(900)
Other									729	(1,213)	(622)
Income tax provision (benefit)	$ 39,295	$ 46,820	$ 31,808	$ 15,148	$ 13,579	$ 21,472	$ 18,526	$ 10,137	$ 133,071	$ 63,714	$ 34,227

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating and built-in-loss carryforward	$ 5,736	$ 7,823
Purchase accounting adjustment - loans	11,814	15,850
Allowance for credit losses	35,542	14,796
Compensation and benefits	22,513	17,723
Legal and other reserves	7,097	1,272
Foreclosed property	1,913	5,456
Operating lease liabilities	29,348	29,125
Other	9,717	6,475
Deferred tax assets	123,680	98,520
Deferred tax liabilities:
Premises and equipment	20,076	10,079
Intangible assets	4,518	6,098
Derivatives	17,688	4,342
Loan servicing	34,868	13,278
Operating lease ROU assets	24,755	26,498
Other	8,015	5,251
Deferred tax liabilities	109,920	65,546
Net deferred tax asset	$ 13,760	$ 32,974

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Statutory Federal income tax rate (as a percent)	21.00%	21.00%	21.00%
Effective income tax rate (as a percent)	23.60%	22.50%	22.10%
Net operating loss carryforwards	$ 2,700	$ 12,200
Net operating loss carryforwards, tax effected basis	600	2,400
Recognized built-in loss carryforward ("RBIL")	$ 20,500
Realized built-in-loss recognition period	5 years
Valuation allowance on deferred tax assets for net operating loss carryforwards	$ 0	$ 0

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Uncertain tax positions
Unrecognized tax benefits if recognized would favorably impact the effective tax rate	$ 3,000	$ 2,100
Unrecognized Tax Benefits
Balance, beginning of year	2,808	3,056	$ 1,574
Increases related to tax positions taken during a prior year	327	317	770
Decreases related to tax positions taken during a prior year		(423)
Increases related to tax positions taken during the current year	1,017	288	712
Decreases related to expiration of the statute of limitations	(374)	(430)
Balance, end of year	$ 3,778	$ 2,808	$ 3,056

Employee Benefits (Details)

Employee Benefits (Details) $ in Millions	Jan. 01, 2015USD ($)	Nov. 30, 2012item	Jul. 31, 2020	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2001USD ($)
Employee Benefits
Matching contributions				$ 17.7	$ 15.5	$ 14.8
Number of executive officers of PlainsCapital with retention agreements | item		2
Liability, including interest				2.6	2.6
Flexible premium universal life insurance
Amount of insurance purchased							$ 15
Carrying value of the policies				26.8	26.2
Income related to the policies				$ 0.5	$ 1	$ 0.6
ESPP
Employee Benefits
Percentage of shares to be purchased at fair market value			90.00%
SWS Plan
Employee Benefits
Deferred compensation plan, matching percentage	15.00%
Deferred compensation plan, vesting period	4 years
Contributions allowed under plan	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions
Aggregate remaining lease obligation	$ 143,174
Diamond A Financial LP
Related Party Transactions
Ownership interest (as a percent)	18.90%
PlainsCapital (the Bank)
Related Party Transactions
Deposits of related parties held	$ 154,100	$ 141,200
Chief Executive Officer | Diamond A Financial LP
Related Party Transactions
Ownership interest (as a percent)	49.00%
Directors Executive Officers and Affiliates | PlainsCapital (the Bank)
Related Party Transactions
Loans to related parties	$ 600	5
Total principal additions to loans	600
Total principal payments	2
Lessor | PlainsCapital (the Bank) | Lease Agreements
Related Party Transactions
Future minimum payments due annually through 2028	500
Aggregate remaining lease obligation	4,200
Related Party Company | PlainsCapital (the Bank)
Related Party Transactions
Loan Purchases	$ 500	$ 700

Related Party Transactions - Hi

Related Party Transactions - Hilltop Plaza Investment (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2018USD ($)atenantitem	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)
Related Party Transactions
Operating lease liabilities			$ 125,450	$ 125,619
Retained earnings			$ 986,792	$ 644,860
Hilltop Plaza
Related Party Transactions
Construction Loan	$ 41,000
Operating lease liabilities					$ 18,900
Costs incurred and capitalized		$ 27,800
Hilltop and the Bank | Hilltop Plaza
Related Party Transactions
Number of office and retail lease | item	2
Total base rent	$ 35,000
Rent abated	9 months
Hilltop | Hilltop Plaza
Related Party Transactions
Term of contract	129 months
PlainsCapital (the Bank) | Hilltop Plaza
Related Party Transactions
Term of contract	129 months
Hilltop Investments I, LLC
Related Party Transactions
Investment contribution	$ 19,300
Diamond Ground, LLC
Related Party Transactions
Investment contribution	$ 19,300
Park Plaza | Hilltop Plaza
Related Party Transactions
Ownership interest (as a percent)	50.00%
HTH Hillcrest Project LLC | Hilltop Plaza
Related Party Transactions
Ownership interest (as a percent)	25.00%
Cash contributions	$ 5,300
Diamond Hillcrest | Hilltop Plaza
Related Party Transactions
Ownership interest (as a percent)	25.00%
Cash contributions	$ 5,300
Hillcrest Land LLC
Related Party Transactions
Acres of land | a	1.7
Payments to acquire land	$ 38,500
Primary Beneficiary | item	0
Ground lease term	99 years
Number of tenants | tenant	3
Ground lease commences	18 months
Ground lease	$ 1,800
Annual ground lease increase (as percent)	1.00%
Hillcrest Land LLC | Park Plaza
Related Party Transactions
Leasehold interest	50.00%
Hillcrest Land LLC | HTH Hillcrest Project LLC
Related Party Transactions
Leasehold interest	25.00%
Hillcrest Land LLC | Diamond Hillcrest
Related Party Transactions
Leasehold interest	25.00%
Diamond Ground, LLC | Jeremy Ford
Related Party Transactions
Ownership interest (as a percent)			10.20%
Diamond Ground, LLC | Wife of Corey Prestidge
Related Party Transactions
Ownership interest (as a percent)			10.10%
Cumulative Effect, Period of Adoption, Adjustment | ASU 2016-02 | Hilltop Plaza
Related Party Transactions
Retained earnings		$ 1,400

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) $ in Thousands	Nov. 30, 2012item	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Reserve for Indemnification Liability:
Number of executive officers | item	2
Retention Agreement | Chief Executive Officer
Reserve for Indemnification Liability:
Period from date of agreement at which initial renewal of agreement may occur	2 years
Renewal period of contract	1 year
Representation and Warranty Claims
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year		$ 32,144	$ 33,784	$ 33,702
Claims made		17,429	20,054	22,156
Claims resolved with no payment		(7,778)	(14,154)	(13,169)
Repurchases		(11,588)	(6,170)	(8,250)
Indemnification payments		(122)	(1,370)	(655)
Balance, end of year		30,085	32,144	33,784
Reserve for Indemnification Liability:
Total		32,144	32,144	33,702	$ 30,085	$ 32,144
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses		11,200	3,100	3,200
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of year		11,776	10,701	23,472
Additions for new sales		9,991	3,116	3,170
Repurchases		(768)	(495)	(612)
Early payment defaults		(624)	(380)	(368)
Indemnification payments		(39)	(352)	(13,687)
Change in reserves for loans sold in prior years		1,195	(814)	(1,274)
Balance, end of year		21,531	11,776	10,701
Reserve for Indemnification Liability:
Specific claims					961	1,071
Incurred but not reported claims					20,570	10,705
Total		$ 21,531	$ 10,701	23,472	21,531	11,776
Settlement Agreement with DOJ And HUD
Commitments and Contingencies
Payments for Legal Settlements				$ 13,500
PlainsCapital (the Bank)
Commitments and Contingencies
Aggregate amount of federal funds purchased and sold for which the Bank acts as an agent on behalf of certain correspondent banks					$ 2,500	$ 0

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Details) $ in Millions	Dec. 31, 2020USD ($)
Unused commitments to extend credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 1,900
Standby letters of credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 91.5

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock based compensation
Compensation expense	$ 14.6	$ 11.8	$ 9.1
RSUs
Stock based compensation
Vesting period	3 years
Transfer restrictions period	1 year
Board of Directors
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	31,222	26,659	30,400
2012 Plan
Stock based compensation
Number of additional awards permissible under the plan	0
2020 Plan
Stock based compensation
Number of awards approved for grant (in shares)	3,650,000
Common stock remaining available for issuance (in shares)	3,428,547

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - RSUs - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of shares outstanding
Balance at the beginning of the period ( in shares)	1,437	1,270	1,318
Granted (in shares)	777	719	510
Vested/Released (in shares)	(350)	(496)	(406)
Forfeited (in shares)	(31)	(56)	(152)
Balance at the end of the period ( in shares)	1,833	1,437	1,270
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 22.64	$ 22.44	$ 20.89
Grant date fair value (in dollars per share)	21.79	20.02	24
Vested/Released (in dollars per share)	26.83	18.17	19.92
Forfeited (in dollars per share)	22.38	24.12	20.97
Balance at the end of the period (in dollars per share)	$ 21.48	$ 22.64	$ 22.44

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - RSUs - USD ($) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)				238,914
Vested RSUs which require deferral of share settlement and statutory tax obligations	5,482			5,482
Number of shares awarded (in shares)	777,000	719,000	510,000
Number of awards subject to time-based vesting (in shares)	1,543,756
Number of awards vesting upon achievement of performance goals (in shares)	289,493
Vesting period	3 years
Unrecognized compensation expense	$ 20.1			$ 20.1
Weighted average period for unrecognized compensation expense (in years)	1 year 5 months 26 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	763,140
Number of awards subject to time-based vesting (in shares)	636,208
Number of awards vesting upon achievement of performance goals (in shares)	122,232
Vesting period	3 years

Regulatory Matters - Minimum Ca

Regulatory Matters - Minimum Capital Requirements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 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	$ 1,385,842	$ 1,236,289
Actual Ratio (as a percent)	10.44	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	$ 1,385,842	$ 1,236,289
Actual Ratio (as a percent)	14.40	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	$ 1,385,842	$ 1,236,289
Actual Ratio (as a percent)	14.40	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	$ 1,470,364	$ 1,299,453
Actual Ratio (as a percent)	15.27	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	$ 2,111,580	$ 1,822,970
Actual Ratio (as a percent)	12.64	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	$ 2,046,580	$ 1,776,381
Actual Ratio (as a percent)	18.97	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	$ 2,111,580	$ 1,822,970
Actual Ratio (as a percent)	19.57	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	$ 2,409,684	$ 1,867,771
Actual Ratio (as a percent)	22.34	17.55
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	10.50%	10.50%

Regulatory Matters - Reconcilia

Regulatory Matters - Reconciliation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of equity capital to Tier 1 and total capital (as defined)
Total equity capital	$ 2,323,939	$ 2,103,039
PlainsCapital (the Bank)
Reconciliation of equity capital to Tier 1 and total capital (as defined)
Total equity capital	1,654,249	1,523,549
Add:
Net unrealized holding losses (gains) on securities available for sale and held in trust	(17,763)	(9,452)
CECL transition adjustment	22,905
Deduct:
Goodwill and other disallowed intangible assets	(273,330)	(276,249)
Other	(219)	(1,559)
Common equity Tier 1 capital (as defined)	1,385,842	1,236,289
Deduct:
Tier 1 capital (as defined)	1,385,842	1,236,289
Add: Allowable Tier 2 capital
Allowance for credit losses, including unfunded commitments	120,334	63,164
Deduct:
Additional Tier 2 capital deduction	(35,812)
Total capital (as defined)	1,470,364	1,299,453
Hilltop
Reconciliation of equity capital to Tier 1 and total capital (as defined)
Total equity capital	2,323,939	2,103,039
Add:
Net unrealized holding losses (gains) on securities available for sale and held in trust	(17,763)	(11,419)
CECL transition adjustment	23,842
Deduct:
Goodwill and other disallowed intangible assets	(283,187)	(313,756)
Other	(251)	(1,483)
Common equity Tier 1 capital (as defined)	2,046,580	1,776,381
Add: Tier 1 capital
Trust preferred securities	65,000	65,000
Deduct:
Additional Tier 1 capital deductions		(18,411)
Tier 1 capital (as defined)	2,111,580	1,822,970
Add: Allowable Tier 2 capital
Allowance for credit losses, including unfunded commitments	134,853	63,212
Capital instruments	200,000
Deduct:
Additional Tier 2 capital deduction	(36,749)	(18,411)
Total capital (as defined)	$ 2,409,684	$ 1,867,771

Regulatory Matters - Net Capita

Regulatory Matters - Net Capital Position, Broker-Dealers (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 290,357	$ 157,436	$ 133,993
Hilltop Securities
Net Capital
Net capital	291,228
Less required net capital	7,045
Excess net capital	$ 284,183
Net capital as a percentage of aggregate debit items	82.70%
Net capital in excess of 5% aggregate debt items	$ 273,616
Momentum Independent Network
Net Capital
Net capital	3,220
Less required net capital	250
Excess net capital	2,970
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 290,400	$ 157,400

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 28, 2021	Nov. 17, 2020	Sep. 23, 2020	Aug. 20, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Apr. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Jul. 31, 2018	Jan. 31, 2018
Stock repurchase program
Cash dividends declared per common share	$ 0.12				$ 0.09	$ 0.09	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08		$ 0.36	$ 0.32	$ 0.28
Cash dividends paid														$ 32,500	$ 29,600	$ 26,700
Earnings available for dividend payments without regulatory approval					$ 248,100									248,100
Repurchase common stock authorized amount																	$ 75,000	$ 75,000	$ 50,000	$ 100,000	$ 50,000
Payments to repurchase shares													$ 15,200	$ 208,664	$ 73,385	$ 58,990
Repurchase of common stock (in shares)													720,901		3,390,247	2,729,568
Average price (per share)													$ 21.13		$ 21.64	$ 21.61
Securities Purchase Agreement
Stock repurchase program
Payments to repurchase shares				$ 48,400
Repurchase of common stock (in shares)				2,175,404
Average price (per share)				$ 22.25
Tender Offer Agreement
Stock repurchase program
Aggregate cash purchase price			$ 350,000
Payments to repurchase shares		$ 193,400
Repurchase of common stock (in shares)		8,058,947
Average price (per share)		$ 24

Other Noninterest Income and _3

Other Noninterest Income and Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other noninterest income:
Net gains from trading securities portfolio	$ 121,983	$ 20,521	$ 6,197
Net gains from Hilltop Broker-Dealer structured product and derivative activities	81,111	129,571	41,543
Service charges on depositor accounts	14,845	15,170	14,484
Trust fees	9,804	10,255	9,807
Other	15,862	10,833	18,365
Other noninterest income	243,605	186,350	90,396
Other noninterest expense:
Software and information technology	56,872	50,751	52,882
Mortgage origination and servicing	27,808	19,892	19,705
Brokerage commissions and fees	24,113	20,039	20,674
Unreimbursed loan closing costs	21,696	16,784	16,798
Business development	10,190	12,940	15,853
Amortization of intangible assets	6,301	7,567	8,026
Travel, meals and entertainment	4,804	12,160	11,968
Funding fees	4,461	5,393	5,414
Office supplies	3,953	4,809	5,788
Other	64,560	43,051	55,284
Other noninterest expense	$ 224,758	$ 193,386	$ 212,392

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative financial instruments
Available for sale	$ 1,462,205	$ 911,493
Not designated as hedges | Prime Lending
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	33,714	8,550	$ (12,788)
Not designated as hedges | Hilltop Broker-Dealers
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	3,969	(3,085)	(381)
Not designated as hedges | PlainsCapital (the Bank)
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	(7)	(148)	$ 30
IRLCs | Not designated as hedges
Derivative financial instruments
Notional Amount	2,470,013	914,526
Estimated Fair Value	76,048	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	2,478,041	3,346,946
Estimated Fair Value	22,311	3,321
Commitments to Sell MBSs | Not designated as hedges
Derivative financial instruments
Notional Amount	6,141,079	5,988,198
Estimated Fair Value	(40,621)	(5,904)
Commitments to Sell MBSs | Not designated as hedges | Prime Lending
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	26,100	4,500
Interest rate swaps | Not designated as hedges
Derivative financial instruments
Notional Amount	43,786	15,012
Estimated Fair Value	(2,196)	(178)
Interest rate swaps | Cash Flow Hedging | Designated as hedges
Derivative financial instruments
Notional Amount	105,000	50,000
Estimated Fair Value	(3,112)	528
Interest rate swaps | Fair Value Hedging | Designated as hedges
Derivative financial instruments
Notional Amount	60,618
Estimated Fair Value	(130)
Available for sale	60,700
Cumulative adjustment in available for sale securities	100
U.S. Treasury bond futures and options | Not designated as hedges
Derivative financial instruments
Notional Amount	225,400	283,500
Eurodollar futures | Not designated as hedges
Derivative financial instruments
Notional Amount		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	$ 2,700	$ 3,700

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 80,319	$ 59,031
Total
Gross Amounts of Recognized Assets	1,441,485	1,697,453
Net Amounts of Assets Presented in the Balance Sheet	1,441,485	1,697,453
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,376,191)	(1,649,079)
Net Amount	65,294	48,374
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,338,855	1,634,782
Net Amounts of Assets Presented in the Balance Sheet	1,338,855	1,634,782
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,273,955)	(1,586,820)
Net Amount	64,900	47,962
Reverse repurchase agreements | Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	80,319	59,031
Net Amounts of Assets Presented in the Balance Sheet	80,319	59,031
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(79,925)	(58,619)
Net Amount	394	412
Forward MBS Derivatives | Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	22,311	3,640
Net Amounts of Assets Presented in the Balance Sheet	22,311	3,640
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(22,311)	(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	Dec. 31, 2020	Dec. 31, 2019
Total
Gross Amounts of Recognized Liabilities	$ 1,525,859	$ 2,175,157
Gross Amounts Offset in the Balance Sheet	(120)	(667)
Net Amounts of Liabilities Presented in the Balance Sheet	1,525,739	2,174,490
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,431,739)	(2,124,554)
Net Amount	94,000	49,936
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,245,066	1,555,964
Net Amounts of Liabilities Presented in the Balance Sheets	1,245,066	1,555,964
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,179,090)	(1,509,933)
Net Amount	65,976	46,031
Institutional Counterparties | Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities	2,196	178
Net Amounts of Liabilities Presented in the Balance Sheet	2,196	178
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(2,123)	(112)
Net Amount	73	66
Institutional Counterparties | Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	237,856	586,651
Net Amounts of Liabilities Presented in the Balance Sheet	237,856	586,651
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(237,856)	(586,651)
Net Amount	0	0
Institutional Counterparties | Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	40,741	6,890
Gross Amounts Offset in the Balance Sheet	(120)	(667)
Net Amounts of Liabilities Presented in the Balance Sheet	40,621	6,223
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(12,670)	(2,384)
Net Amount	$ 27,951	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	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Number of repurchase-to-maturity transactions outstanding | item	0
Total borrowings	$ 1,482,922	$ 2,168,089
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	1,482,922	2,168,089
Amount related to agreements not included in offsetting disclosure above	$ 0	0
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	90 days
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	$ 1,355,897	1,859,310
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings		12,892
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	127,025	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	237,856	566,175
Assets-backed securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	110,831	257,396
Assets-backed securities | Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions		12,892
Assets-backed securities | Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	127,025	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	1,244,953	1,555,844
Equity Securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,244,953	$ 1,555,844

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Receivables:
Securities borrowed	$ 1,338,855	$ 1,634,782
Securities failed to deliver	58,244	18,726
Trades in process of settlement		104,922
Other	7,628	21,850
Total receivables	1,404,727	1,780,280
Payables:
Securities loaned	1,245,066	1,555,964
Correspondents	33,547	37,036
Securities failed to receive	61,589	8,568
Trades in process of settlement	21,765
Other	6,406	3,950
Total Payables	$ 1,368,373	$ 1,605,518

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)item	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)segmentitem	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Information about the revenues, operating results, goodwill and assets
Number of primary business units | item	2								2
Number of reportable segments | segment									3
Goodwill of discontinued operations					$ 24,000					$ 24,000
Assets of discontinued operations					248,429					248,429
Net interest income (expense)	$ 107,372	$ 101,900	$ 104,558	$ 110,336	110,760	$ 112,646	$ 107,284	$ 108,289	$ 424,166	438,979	$ 433,299
Provision for (reversal of) credit losses	(3,482)	(602)	66,026	34,549	6,880	47	(672)	951	96,491	7,206	5,088
Noninterest income	447,931	502,711	468,125	271,713	263,646	306,505	276,703	215,963	1,690,480	1,062,817	880,130
Noninterest expense	402,348	399,345	370,209	281,901	307,868	321,186	304,088	278,747	1,453,803	1,211,889	1,153,328
Income from continuing operations before income taxes	156,437	$ 205,868	$ 136,448	$ 65,599	59,658	$ 97,918	$ 80,571	$ 44,554	564,352	282,701	155,013
Income from discontinued operations before taxes									38,900	17,600	5,800
Goodwill	267,447				267,447				267,447	267,447
Total assets	16,944,264				15,172,448				16,944,264	15,172,448
Continuing Operations
Information about the revenues, operating results, goodwill and assets
Total assets	16,944,264				14,924,019				16,944,264	14,924,019
Operating segment | Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									390,871	379,258	370,732
Provision for (reversal of) credit losses									96,326	7,280	5,319
Noninterest income									41,376	41,753	43,588
Noninterest expense									232,447	231,524	256,577
Income from continuing operations before income taxes									103,474	182,207	152,424
Goodwill	247,368				247,368				247,368	247,368
Operating segment | Banking | Continuing Operations
Information about the revenues, operating results, goodwill and assets
Total assets	13,338,930				11,147,344				13,338,930	11,147,344
Operating segment | Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									39,912	51,308	50,878
Provision for (reversal of) credit losses									165	(74)	(231)
Noninterest income									491,355	404,411	301,714
Noninterest expense									415,463	366,031	320,241
Income from continuing operations before income taxes									115,639	89,762	32,582
Goodwill	7,008				7,008				7,008	7,008
Operating segment | Broker-Dealer | Continuing Operations
Information about the revenues, operating results, goodwill and assets
Total assets	3,196,346				3,457,068				3,196,346	3,457,068
Operating segment | Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									(10,489)	(6,273)	1,485
Noninterest income									1,172,450	634,992	551,860
Noninterest expense									753,917	563,998	540,474
Income from continuing operations before income taxes									408,044	64,721	12,871
Goodwill	13,071				13,071				13,071	13,071
Operating segment | Mortgage Origination Segment | Continuing Operations
Information about the revenues, operating results, goodwill and assets
Total assets	3,285,005				2,357,415				3,285,005	2,357,415
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									(14,192)	(5,541)	(9,176)
Noninterest income									3,945	2,104	4,798
Noninterest expense									53,040	50,968	36,628
Income from continuing operations before income taxes									(63,287)	(54,405)	(41,006)
Corporate | Continuing Operations
Information about the revenues, operating results, goodwill and assets
Total assets	2,823,374				2,393,604				2,823,374	2,393,604
All Other and Eliminations.
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)									18,064	20,227	19,380
Noninterest income									(18,646)	(20,443)	(21,830)
Noninterest expense									(1,064)	(632)	(592)
Income from continuing operations before income taxes									482	416	$ (1,858)
All Other and Eliminations. | Continuing Operations
Information about the revenues, operating results, goodwill and assets
Total assets	$ (5,699,391)				$ (4,431,412)				$ (5,699,391)	$ (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								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic earnings per share:
Income from continuing operations									$ 409,440	$ 211,301	$ 116,500
Income from discontinued operations	$ 3,734	$ 736	$ 30,775	$ 3,151	$ 5,623	$ 5,261	$ (2,254)	$ 5,360	38,396	13,990	4,941
Income attributable to Hilltop	$ 116,445	$ 153,279	$ 128,476	$ 49,636	$ 49,276	$ 79,418	$ 57,811	$ 38,786	$ 447,836	$ 225,291	$ 121,441
Weighted average shares outstanding - basic									89,280	92,345	94,969
Income from continuing operations (in dollars per share)	$ 1.31	$ 1.69	$ 1.08	$ 0.51	$ 0.48	$ 0.81	$ 0.64	$ 0.36	$ 4.59	$ 2.29	$ 1.23
Earnings from discontinued operations (in dollars per share)	0.04	0.01	0.34	0.04	0.06	0.06	(0.02)	0.05	0.43	0.15	0.05
Basic earnings per common share (in dollars per share)	$ 1.35	$ 1.70	$ 1.42	$ 0.55	$ 0.54	$ 0.87	$ 0.62	$ 0.41	$ 5.02	$ 2.44	$ 1.28
Diluted earnings per share:
Income from continuing operations									$ 409,440	$ 211,301	$ 116,500
Income from discontinued operations	$ 3,734	$ 736	$ 30,775	$ 3,151	$ 5,623	$ 5,261	$ (2,254)	$ 5,360	38,396	13,990	4,941
Income attributable to Hilltop	$ 116,445	$ 153,279	$ 128,476	$ 49,636	$ 49,276	$ 79,418	$ 57,811	$ 38,786	$ 447,836	$ 225,291	$ 121,441
Weighted average shares outstanding - basic									89,280	92,345	94,969
Effect of potentially dilutive securities (in shares)									24	49	98
Weighted average shares outstanding - diluted									89,304	92,394	95,067
Income from continuing operations (in dollars per share)	$ 1.30	$ 1.69	$ 1.08	$ 0.51	$ 0.48	$ 0.81	$ 0.64	$ 0.36	$ 4.58	$ 2.29	$ 1.23
Earnings from discontinued operations (in dollars per share)	0.05	0.01	0.34	0.04	0.06	0.05	(0.02)	0.05	0.43	0.15	0.05
Diluted earnings per common share (in dollars per share)	$ 1.35	$ 1.70	$ 1.42	$ 0.55	$ 0.54	$ 0.86	$ 0.62	$ 0.41	$ 5.01	$ 2.44	$ 1.28

Financial Statements of Paren_2

Financial Statements of Parent - Operations and Comp Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Interest expense	$ 29,489	$ 27,928	$ 30,373	$ 34,539	$ 41,058	$ 48,294	$ 41,716	$ 40,649	$ 122,329	$ 171,717	$ 141,324
Income tax benefit	39,295	46,820	31,808	15,148	13,579	21,472	18,526	10,137	133,071	63,714	34,227
Net income	$ 120,876	$ 159,784	$ 135,415	$ 53,602	$ 51,702	$ 81,707	$ 59,791	$ 39,777	469,677	232,977	125,727
Other comprehensive income (loss), net									6,344	20,046	(5,632)
Comprehensive income									476,021	253,023	120,095
Parent Company | Reportable Legal Entities
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
Dividends from bank subsidiaries									249,771	143,000	42,000
Dividends from nonbank subsidiaries									56,150	36,950	37,500
Investment income									4,102	5,933	3,089
Interest expense									18,294	11,474	12,265
Other income									45,887	2,221	4,893
General and administrative expense									58,130	50,968	36,628
Income before income taxes, equity in undistributed earnings of subsidiaries and preferred stock activity									279,486	125,662	38,589
Income tax benefit									(13,897)	(12,706)	(7,767)
Equity in undistributed earnings of subsidiaries									176,294	94,609	79,371
Net income									469,677	232,977	125,727
Other comprehensive income (loss), net									6,344	20,046	(5,656)
Comprehensive income									$ 476,021	$ 253,023	$ 120,071

Financial Statements of Paren_3

Financial Statements of Parent - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investment in subsidiaries:
Other assets	$ 555,983	$ 404,754
Total assets	16,944,264	15,172,448
Liabilities and Stockholders' Equity
Notes payable	381,987	256,269
Stockholders' equity	2,323,939	2,103,039
Total liabilities and stockholders' equity	16,944,264	15,172,448
Parent Company | Reportable Legal Entities
Assets
Cash and cash equivalents	478,826	116,471	$ 54,405
Investment in subsidiaries:
Bank subsidiaries	1,654,249	1,523,549	1,459,984
Nonbank subsidiaries	453,847	533,844	483,593
Other assets	236,452	219,740	245,200
Total assets	2,823,374	2,393,604	2,243,182
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	64,635	53,418	58,319
Notes payable	412,764	215,780	215,620
Stockholders' equity	2,345,975	2,124,406	1,969,243
Total liabilities and stockholders' equity	$ 2,823,374	$ 2,393,604	$ 2,243,182

Financial Statements of Paren_4

Financial Statements of Parent - Cash flows (Details) - USD ($) $ in Thousands	3 Months Ended								4 Months Ended	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Apr. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities:
Net income	$ 120,876	$ 159,784	$ 135,415	$ 53,602	$ 51,702	$ 81,707	$ 59,791	$ 39,777		$ 469,677	$ 232,977	$ 125,727
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes										16,583	(4,063)	13,009
Net cash provided by (used in) operating activities										280,436	(433,023)	389,540
Investing Activities:
Purchases of premises and equipment and other assets										(37,746)	(42,287)	(67,726)
Net cash used in investing activities										(827,666)	(604,292)	(289,667)
Financing Activities:
Payments to repurchase common stock									$ (15,200)	(208,664)	(73,385)	(58,990)
Proceeds from issuance of notes payable										1,451,249	1,055,772	664,045
Dividends paid on common stock										(32,524)	(29,627)	(26,698)
Net cash contributed from noncontrolling interest										(20,890)	(6,352)	17,411
Other, net										(1,724)	(2,494)	(2,657)
Net cash provided by financing activities										1,257,744	901,638	4,633
Net change in cash, cash equivalents and restricted cash										710,514	(135,677)	104,506
Cash, cash equivalents and restricted cash, beginning of year				642,789				778,466	642,789	642,789	778,466	673,960
Cash, cash equivalents and restricted cash, end of year	1,353,303				642,789					1,353,303	642,789	778,466
Parent Company | Reportable Legal Entities
Operating Activities:
Net income										469,677	232,977	125,727
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries										(176,294)	(94,609)	(79,371)
Net realized gains on equity investments												(5,336)
Net realized gains on disposal of discontinued operations										(41,901)
Deferred income taxes										4,432	(123)	217
Other, net										37,465	44,943	19,368
Net cash provided by (used in) operating activities										293,379	183,188	60,605
Investing Activities:
Purchases of equity securities										(29,365)		(12,492)
Purchases of premises and equipment and other assets										(12,547)	(17,302)	(42,390)
Proceeds from sales of equity investments												16,174
Proceeds from sale of discontinued operations										154,963
Net cash used in investing activities										113,051	(17,302)	(38,708)
Financing Activities:
Payments to repurchase common stock										(208,664)	(73,385)	(58,990)
Proceeds from issuance of notes payable										196,657
Dividends paid on common stock										(32,524)	(29,627)	(26,698)
Net cash contributed from noncontrolling interest										825	100	19,250
Other, net										(369)	(908)	2,182
Net cash provided by financing activities										(44,075)	(103,820)	(64,256)
Net change in cash, cash equivalents and restricted cash										362,355	62,066	(42,359)
Cash, cash equivalents and restricted cash, beginning of year				$ 116,471				$ 54,405	$ 116,471	116,471	54,405	96,764
Cash, cash equivalents and restricted cash, end of year	$ 478,826				$ 116,471					$ 478,826	$ 116,471	54,405
Supplemental Schedule of Non-Cash Activities:
Construction in progress related to build-to-suit lease obligations												27,802
Note receivable contributed from nonbank subsidiary												$ 111,653

Selected Quarterly Financial _3

Selected Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 28, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Selected Quarterly Financial Information (Unaudited)
Interest income		$ 136,861	$ 129,828	$ 134,931	$ 144,875	$ 151,818	$ 160,940	$ 149,000	$ 148,938	$ 546,495	$ 610,696	$ 574,623
Interest expense		29,489	27,928	30,373	34,539	41,058	48,294	41,716	40,649	122,329	171,717	141,324
Net interest income		107,372	101,900	104,558	110,336	110,760	112,646	107,284	108,289	424,166	438,979	433,299
Provision for (reversal of) credit losses		(3,482)	(602)	66,026	34,549	6,880	47	(672)	951	96,491	7,206	5,088
Noninterest income		447,931	502,711	468,125	271,713	263,646	306,505	276,703	215,963	1,690,480	1,062,817	880,130
Noninterest expense		402,348	399,345	370,209	281,901	307,868	321,186	304,088	278,747	1,453,803	1,211,889	1,153,328
Income from continuing operations before income taxes		156,437	205,868	136,448	65,599	59,658	97,918	80,571	44,554	564,352	282,701	155,013
Income tax expense		39,295	46,820	31,808	15,148	13,579	21,472	18,526	10,137	133,071	63,714	34,227
Income from continuing operations		117,142	159,048	104,640	50,451	46,079	76,446	62,045	34,417	431,281	218,987	120,786
Income from discontinued operations, net of income taxes		3,734	736	30,775	3,151	5,623	5,261	(2,254)	5,360	38,396	13,990	4,941
Net income		120,876	159,784	135,415	53,602	51,702	81,707	59,791	39,777	469,677	232,977	125,727
Less: Net income attributable to noncontrolling interest		4,431	6,505	6,939	3,966	2,426	2,289	1,980	991	21,841	7,686	4,286
Income attributable to Hilltop		$ 116,445	$ 153,279	$ 128,476	$ 49,636	$ 49,276	$ 79,418	$ 57,811	$ 38,786	$ 447,836	$ 225,291	$ 121,441
Basic:
Earnings from continuing operations (in dollars per share)		$ 1.31	$ 1.69	$ 1.08	$ 0.51	$ 0.48	$ 0.81	$ 0.64	$ 0.36	$ 4.59	$ 2.29	$ 1.23
Earnings (losses) from discontinued operations (in dollars per share)		0.04	0.01	0.34	0.04	0.06	0.06	(0.02)	0.05	0.43	0.15	0.05
Basic earnings per common share (in dollars per share)		1.35	1.70	1.42	0.55	0.54	0.87	0.62	0.41	5.02	2.44	1.28
Diluted:
Earnings from continuing operations (in dollars per share)		1.30	1.69	1.08	0.51	0.48	0.81	0.64	0.36	4.58	2.29	1.23
Earnings (losses) from discontinued operations (in dollars per share)		0.05	0.01	0.34	0.04	0.06	0.05	(0.02)	0.05	0.43	0.15	0.05
Diluted earnings per common share (in dollars per share)		1.35	1.70	1.42	0.55	0.54	0.86	0.62	0.41	5.01	2.44	1.28
Cash dividends declared per common share	$ 0.12	$ 0.09	$ 0.09	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.36	$ 0.32	$ 0.28