Hilltop (HTH) 10-Q25 Apr 222022 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2022	Apr. 22, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-31987
Entity Registrant Name	Hilltop Holdings Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	84-1477939
Entity Address, Address Line One	6565 Hillcrest Avenue
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75205
City Area Code	214
Local Phone Number	855-2177
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HTH
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		79,439,118
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 2,886,812	$ 2,823,138
Federal funds sold	383	385
Assets segregated for regulatory purposes	128,408	221,740
Securities purchased under agreements to resell	256,991	118,262
Securities:
Trading, at fair value	471,763	647,998
Available for sale, at fair value, net (amortized cost of $1,526,614 and $2,148,635, respectively)	1,462,340	2,130,568
Held to maturity, at amortized cost, net (fair value of $949,034 and $276,296, respectively)	953,107	267,684
Equity, at fair value	225	250
Total securities	2,887,435	3,046,500
Loans held for sale	1,643,994	1,878,190
Loans held for investment, net of unearned income	7,797,903	7,879,904
Allowance for credit losses	(91,185)	(91,352)
Loans held for investment, net	7,706,718	7,788,552
Broker-dealer and clearing organization receivables	1,610,352	1,672,946
Premises and equipment, net	198,906	204,438
Operating lease right-of-use assets	108,180	112,328
Mortgage servicing rights	100,475	86,990
Other assets	546,622	452,880
Goodwill	267,447	267,447
Other intangible assets, net	14,233	15,284
Total assets	18,356,956	18,689,080
Deposits:
Noninterest-bearing	4,694,592	4,577,183
Interest-bearing	7,972,110	8,240,894
Total deposits	12,666,702	12,818,077
Broker-dealer and clearing organization payables	1,397,836	1,477,300
Short-term borrowings	835,054	859,444
Securities sold, not yet purchased, at fair value	97,629	96,586
Notes payable	395,479	387,904
Operating lease liabilities	125,919	130,960
Other liabilities	347,742	369,606
Total liabilities	15,866,361	16,139,877
Commitments and contingencies (see Notes 13 and 14)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 79,438,610 and 78,964,978 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	794	790
Additional paid-in capital	1,275,649	1,274,446
Accumulated other comprehensive income (loss)	(80,565)	(10,219)
Retained earnings	1,267,415	1,257,014
Deferred compensation employee stock trust, net	744	752
Employee stock trust (5,234 and 5,749 shares, at cost, at March 31, 2022 and December 31, 2021, respectively)	(104)	(115)
Total Hilltop stockholders' equity	2,463,933	2,522,668
Noncontrolling interests	26,662	26,535
Total stockholders' equity	2,490,595	2,549,203
Total liabilities and stockholders' equity	$ 18,356,956	$ 18,689,080

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 1,526,614	$ 2,148,635
Held to maturity, fair value	$ 949,034	$ 276,296
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	79,438,610	78,964,978
Common stock, shares outstanding	79,438,610	78,964,978
Employee stock trust, shares	5,234	5,749

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest income:
Loans, including fees	$ 90,408	$ 104,277
Securities borrowed	8,817	28,972
Securities:
Taxable	15,581	10,251
Tax-exempt	2,419	2,102
Other	2,312	1,321
Total interest income	119,537	146,923
Interest expense:
Deposits	4,193	7,741
Securities loaned	7,472	25,486
Short-term borrowings	2,045	2,013
Notes payable	4,437	4,797
Junior subordinated debentures		562
Other	1,399	642
Total interest expense	19,546	41,241
Net interest income	99,991	105,682
Provision for (reversal of) credit losses	115	(5,109)
Net interest income after provision for (reversal of) credit losses	99,876	110,791
Noninterest income:
Net gains from sale of loans and other mortgage production income	110,894	267,080
Mortgage loan origination fees	32,062	43,155
Securities commissions and fees	37,146	38,314
Investment and securities advisory fees and commissions	29,705	27,695
Other	6,621	41,341
Total noninterest income	216,428	417,585
Noninterest expense:
Employees' compensation and benefits	200,019	270,353
Occupancy and equipment, net	24,766	24,429
Professional services	10,063	13,585
Other	51,502	58,295
Total noninterest expense	286,350	366,662
Income before income taxes	29,954	161,714
Income tax expense	5,815	37,770
Net income	24,139	123,944
Less: Net income attributable to noncontrolling interest	1,889	3,599
Income attributable to Hilltop	$ 22,250	$ 120,345
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 0.28	$ 1.46
Diluted earnings per common share (in dollars per share)	$ 0.28	$ 1.46
Weighted average share information:
Basic	79,114	82,169
Diluted	79,356	82,657

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 24,139	$ 123,944
Other comprehensive income (loss):
Change in fair value of cash flow and fair value hedges, net of tax of $2,103 and $505, respectively	21,877	6,035
Net unrealized gains (losses) on securities available for sale, net of tax of $(10,677) and $(5,974), respectively	(35,543)	(20,241)
Reclassification adjustment for gains (losses) included in net income, net of tax of $3 and $(21), respectively	10	(71)
Adjustment for unrealized losses on securities transferred from available-for sale to held-to-maturity, net of tax $(17,033) and $0, respectively	(56,690)
Comprehensive income (loss)	(46,207)	109,667
Less: comprehensive income attributable to noncontrolling interest	1,889	3,599
Comprehensive income (loss) applicable to Hilltop	$ (48,096)	$ 106,068

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Cash flow hedge, tax	$ 2,103	$ 505
Net unrealized gains on securities available for sale, tax	(10,677)	(5,974)
Reclassification adjustment, tax	3	(21)
Adjustment for unrealized losses on securities	$ (17,033)	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Parent	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Deferred Compensation Employee Stock Trust, Net	Employee Stock Trust	Noncontrolling Interest	Total
Balance at Dec. 31, 2020	$ 2,323,939	$ 822	$ 1,317,929	$ 17,763	$ 986,792	$ 771	$ (138)	$ 26,708	$ 2,350,647
Balance (in shares) at Dec. 31, 2020		82,185,000					7,000
Increase (Decrease) in Stockholders' Equity
Net income	120,345				120,345			3,599	123,944
Other comprehensive income (loss)	(14,277)			(14,277)					(14,277)
Stock-based compensation expense	4,594		4,594						4,594
Common stock issued to board members	147		147						147
Common stock issued to board members (in shares)		4,000
Issuance of common stock related to share-based awards, net	(746)	$ 2	(748)						(746)
Issuance of common stock related to share-based awards, net (in shares)		222,000
Repurchases of common stock	(4,950)	$ (1)	(2,404)		(2,545)				(4,950)
Repurchases of common stock (in shares)		(150,000)
Dividends on common stock	(9,865)				(9,865)				(9,865)
Deferred compensation plan	(2)					(19)	$ 17		(2)
Deferred compensation plan (in shares)							(1,000)
Net cash distributed to noncontrolling interest								(3,477)	(3,477)
Balance at Mar. 31, 2021	2,419,185	$ 823	1,319,518	3,486	1,094,727	752	$ (121)	26,830	2,446,015
Balance (in shares) at Mar. 31, 2021		82,261,000					6,000
Balance at Dec. 31, 2021	2,522,668	$ 790	1,274,446	(10,219)	1,257,014	752	$ (115)	26,535	2,549,203
Balance (in shares) at Dec. 31, 2021		78,965,000					6,000
Increase (Decrease) in Stockholders' Equity
Net income	22,250				22,250			1,889	24,139
Other comprehensive income (loss)	(70,346)			(70,346)					(70,346)
Stock-based compensation expense	5,114		5,114						5,114
Common stock issued to board members	152		152						152
Common stock issued to board members (in shares)		5,000
Issuance of common stock related to share-based awards, net	(4,059)	$ 4	(4,063)						$ (4,059)
Issuance of common stock related to share-based awards, net (in shares)		469,000
Repurchases of common stock (in shares)									0
Dividends on common stock	(11,849)				(11,849)				$ (11,849)
Deferred compensation plan	3					(8)	$ 11		3
Deferred compensation plan (in shares)							(1,000)
Net cash distributed to noncontrolling interest								(1,762)	(1,762)
Balance at Mar. 31, 2022	$ 2,463,933	$ 794	$ 1,275,649	$ (80,565)	$ 1,267,415	$ 744	$ (104)	$ 26,662	$ 2,490,595
Balance (in shares) at Mar. 31, 2022		79,439,000					5,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Apr. 21, 2022	Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.15	$ 0.15	$ 0.12

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income	$ 24,139	$ 123,944
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (reversal of) credit losses	115	(5,109)
Depreciation, amortization and accretion, net	7,709	5,930
Deferred income taxes	2,664	1,424
Other, net	5,231	5,775
Net change in securities purchased under agreements to resell	(138,729)	(26,023)
Net change in trading securities	176,235	165,543
Net change in broker-dealer and clearing organization receivables	289,274	(275,257)
Net change in other assets	(53,745)	(97,606)
Net change in broker-dealer and clearing organization payables	(129,753)	171,709
Net change in other liabilities	(20,854)	(13,289)
Net change in securities sold, not yet purchased	1,043	17,266
Proceeds from sale of mortgage servicing rights asset	1,876	52,783
Change in valuation of mortgage servicing rights asset	(8,060)	(16,865)
Net gains from sales of loans	(110,894)	(267,080)
Loans originated for sale	(3,968,559)	(6,960,572)
Proceeds from loans sold	4,310,942	7,431,243
Net cash provided by operating activities	388,634	313,816
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	22,851	11,707
Proceeds from sales, maturities and principal reductions of securities available for sale	94,687	249,628
Purchases of securities available for sale	(256,887)	(531,701)
Net change in loans held for investment	(142,451)	(29,151)
Purchases of premises and equipment and other assets	(1,380)	(8,341)
Proceeds from sales of premises and equipment and other real estate owned	843	867
Net cash paid to Federal Home Loan Bank and Federal Reserve Bank stock	(143)	(35)
Net cash used in investing activities	(282,480)	(307,026)
Financing Activities
Net change in deposits	(101,086)	496,605
Net change in short-term borrowings	(24,334)	(18,834)
Proceeds from notes payable	200,416	239,020
Payments on notes payable and junior subordinated debentures	(192,955)	(219,401)
Payments to repurchase common stock		(4,950)
Dividends paid on common stock	(11,849)	(9,865)
Net cash distributed to noncontrolling interest	(1,762)	(3,477)
Other, net	(4,244)	(913)
Net cash provided by (used in) financing activities	(135,814)	478,185
Net change in cash, cash equivalents and restricted cash	(29,660)	484,975
Cash, cash equivalents and restricted cash, beginning of period	3,045,263	1,353,303
Cash, cash equivalents and restricted cash, end of period	3,015,603	1,838,278
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	14,862	37,095
Cash paid for income taxes, net of refunds	1,322	1,622
Supplemental Schedule of Non-Cash Activities
Conversion of loans to other real estate owned	53	461
Additions to mortgage services rights	7,301	$ 34,301
Carrying amount of AFS securities transferred to HTM, net of $73,722 unrealized loss	$ 708,701

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 2,886,812	$ 2,823,138	$ 1,564,489
Federal funds sold	383	385	396
Assets segregated for regulatory purposes	128,408	221,740	273,393
Total cash, cash equivalents and restricted cash	3,015,603	$ 3,045,263	$ 1,838,278	$ 1,353,303
Carrying amount of AFS securities transferred to HTM, net	$ 73,722

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	3 Months Ended
Summary of Significant Accounting and Reporting Policies	Mar. 31, 2022
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. The Company, headquartered in Dallas, Texas, provides its products and services through two primary business units, 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. As a result of the spread of the novel coronavirus (“COVID-19”) pandemic and its additional variants, economic uncertainties have contributed to significant volatility in the global economy, as well as banking and other financial activity in the areas in which the Company operates. The effects of COVID-19 have had, and may continue to have, an adverse effect on the financial markets and overall economic conditions on an unprecedented scale. 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 uncertainty which could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), and in conformity with the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these financial statements contain all adjustments necessary for a fair statement of the results of the interim periods presented. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (“2021 Form 10-K”). Results for interim periods are not necessarily indicative of results to be expected for a full year or any future period. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates regarding the allowance for credit losses, the fair values of financial instruments, the mortgage loan indemnification liability, and the potential impairment of goodwill and identifiable intangible assets are particularly subject to change. 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 owned 100% of the outstanding common securities of PCC Statutory Trusts I, II, III and IV (the “Trusts”), which were 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. Following receipt of regulatory approval, during June, July and August 2021, PCC submitted to the trustees of each of the Trusts notices to redeem in full outstanding junior subordinated debentures of $67.0 million issued by PCC, which resulted in the full redemption to the holders of the associated preferred securities and common securities during the third quarter of 2021. For further details, see Note 16 to the consolidated financial statements included in the Company’s 2021 Form 10-K. 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. (“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 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 % of the membership interest in HTH Diamond Hillcrest Land LLC (“Hillcrest Land LLC”) which is consolidated under the aforementioned VIE Subsections of the ASC. These entities are related to the Hilltop Plaza investment discussed in detail in Note 19 to the consolidated financial statements included in the Company’s 2021 Form 10-K and are collectively referred to as the “Hilltop Plaza Entities.” The consolidated financial statements include the accounts of the above-named entities. Intercompany transactions and balances have been eliminated. Noncontrolling interests have been recorded for minority ownership in entities that are not wholly owned and are presented in compliance with the provisions of Noncontrolling Interest in Subsidiary Subsections of the ASC. Certain reclassifications have been made to the prior period consolidated financial statements to conform with the current period presentation. In preparing these consolidated financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all stockholders and other financial statement users, or filed with the SEC. Significant accounting policies are detailed in Note 1 to the consolidated financial statements included in the Company’s 2021 Form 10-K.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
Recently Issued Accounting Standards	Mar. 31, 2022
Recently Issued Accounting Standards
Recently Issued Accounting Standards	2. Recently Issued Accounting Standards Accounting Standards Adopted During 2022 In March 2022, the FASB issued ASU 2022-01 to expand and clarify the guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. ASU 2022-01 amends the guidance in ASU 2017-12 that, among other things, established the “last-of-layer” method for making the fair value hedge accounting for these portfolios more accessible. The amendment further improves the last-of-layer (renamed the “portfolio layer”) concepts to expand to nonprepayable financial assets and allows more flexibility in the derivative structures used to hedge the interest rate risk. For entities that have already adopted ASU 2017-12 this update is available for immediate adoption. As permitted within the amendment, the Company elected to early adopt the provisions as of April 1, 2022 on a prospective basis. The adoption of this amendment did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Issued But Not Yet Adopted In March 2022, FASB issued ASU 2022-02 to eliminate the recognition and measurement guidance on troubled debt restructurings for creditors, and require enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. The amendments are effective in periods beginning after December 15, 2022 using either a prospective or modified retrospective transition. Early adoption of certain or all of the amendments is permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2022
Fair Value Measurements
Fair Value Measurements	3. Fair Value Measurements Fair Value Measurements and Disclosures The Company determines fair values in compliance with The Fair Value Measurements and Disclosures Topic of the ASC (the “Fair Value Topic”). The Fair Value Topic defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. The Fair Value Topic defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Fair Value Topic assumes that transactions upon which fair value measurements are based occur in the principal market for the asset or liability being measured. Further, fair value measurements made under the Fair Value Topic exclude transaction costs and are not the result of forced transactions. The Fair Value Topic includes a fair value hierarchy that classifies fair value measurements based upon the inputs used in valuing the assets or liabilities that are the subject of fair value measurements. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs, as indicated below. ● Level 1 Inputs : Unadjusted quoted prices in active markets for identical assets or liabilities that the Company can access at the measurement date. ● Level 2 Inputs : Observable inputs other than Level 1 prices. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, yield curves, prepayment speeds, default rates, credit risks and loss severities), and inputs that are derived from or corroborated by market data, among others. ● Level 3 Inputs : Unobservable inputs that reflect an entity’s own estimates 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 mortgage servicing rights (“MSR”) asset at fair value, under the provisions of the Fair Value Option. The Company elected to apply the provisions of the Fair Value Option to these items so that it would have the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. At March 31, 2022 and December 31, 2021, the aggregate fair value of PrimeLending’s mortgage loans held for sale accounted for under the Fair Value Option was $1.54 billion and $1.78 billion, respectively, and the unpaid principal balance of those loans was $1.53 billion and $1.73 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. The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). Level 1 Level 2 Level 3 Total March 31, 2022 Inputs Inputs Inputs Fair Value Trading securities $ 6,973 $ 464,790 $ — $ 471,763 Available for sale securities — 1,462,340 — 1,462,340 Equity securities 225 — — 225 Loans held for sale — 1,490,589 45,977 1,536,566 Loans held for investment — — 9,611 9,611 Derivative assets — 108,449 — 108,449 MSR asset — — 100,475 100,475 Securities sold, not yet purchased 54,337 43,292 — 97,629 Derivative liabilities — 39,360 — 39,360 Level 1 Level 2 Level 3 Total December 31, 2021 Inputs Inputs Inputs Fair Value Trading securities $ 8,628 $ 639,370 $ — $ 647,998 Available for sale securities — 2,130,568 — 2,130,568 Equity securities 250 — — 250 Loans held for sale — 1,734,875 47,716 1,782,591 Derivative assets — 48,122 — 48,122 MSR asset — — 86,990 86,990 Securities sold, not yet purchased 45,973 50,613 — 96,586 Derivative liabilities — 21,816 — 21,816 The following tables include a rollforward for those financial instruments measured at fair value using Level 3 inputs (in thousands). Total Gains or Losses (Realized or Unrealized) Balance, Transfers Included in Other Beginning of Purchases/ Sales/ to (from) Included in Comprehensive Balance, Period Additions Reductions Level 3 Net Income Income (Loss) End of Period Three months ended March 31, 2022 Loans held for sale $ 47,716 $ 6,986 $ (12,658) $ 4,744 $ (811) $ — $ 45,977 Loans held for investment — 9,611 — — — — 9,611 MSR asset 86,990 7,301 (1,876) — 8,060 — 100,475 Total $ 134,706 $ 23,898 $ (14,534) $ 4,744 $ 7,249 $ — $ 156,063 Three months ended March 31, 2021 Loans held for sale $ 71,816 $ 12,494 $ (7,239) $ 741 $ (537) $ — $ 77,275 MSR asset 143,742 34,301 (52,783) — 16,865 — 142,125 Total $ 215,558 $ 46,795 $ (60,022) $ 741 $ 16,328 $ — $ 219,400 All net realized and unrealized gains (losses) in the tables above are reflected in the accompanying consolidated financial statements. The unrealized gains (losses) relate to financial instruments still held at March 31, 2022. For material Level 3 financial instruments measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021, the significant unobservable inputs used in the fair value measurements were as follows. Range (Weighted-Average) Financial instrument Valuation Technique Unobservable Inputs March 31, 2022 December 31, 2021 Loans Market comparable Projected price 93 - 94 % ( 94 %) 94 - 95 % ( 95 %) MSR asset Discounted cash flows Constant prepayment rate 8.47 % 10.02 % Discount rate 14.36 % 14.32 % The fair value of certain loans held for sale that cannot be sold through normal sale channels or are non-performing is measured using Level 3 inputs. The fair value of such loans is generally based upon estimates of expected cash flows using unobservable inputs, including listing prices of comparable assets, uncorroborated expert opinions, and/or management’s knowledge of underlying collateral. The MSR asset is reported at fair value using Level 3 inputs. The MSR asset is valued by projecting net servicing cash flows, which are then discounted to estimate the fair value. The fair value of the MSR asset is impacted by a variety of factors. Prepayment and discount rates, the most significant unobservable inputs, are discussed further in Note 7 to the consolidated financial statements. The decrease in the prepayment rate used to value the MSR asset at March 31, 2022, compared to December 31, 2021, reflects the effect of increased mortgage rates reducing consumer refinancing activity. The Company had no transfers between Levels 1 and 2 during the periods presented. Any transfers are based on changes in the observability and/or significance of the valuation inputs and are assumed to occur at the beginning of the quarterly reporting period in which they occur. The following table presents those changes in fair value of instruments recognized in the consolidated statements of operations that are accounted for under the Fair Value Option (in thousands). Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Other Total Other Total Net Noninterest Changes in Net Noninterest Changes in Gains (Losses) Income Fair Value Gains (Losses) Income Fair Value Loans held for sale $ (50,855) $ — $ (50,855) $ (67,956) $ — $ (67,956) Loans held for investments — — — — — — MSR asset 8,060 — 8,060 16,865 — 16,865 The Fair Value of Financial Instruments Subsection of the ASC requires disclosure of the fair value of financial assets and liabilities, including the financial assets and liabilities previously discussed. There have been no changes to the methods for determining estimated fair value for financial assets and liabilities as described in detail in Note 4 to the consolidated financial statements included in the Company’s 2021 Form 10-K. The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). Estimated Fair Value Carrying Level 1 Level 2 Level 3 March 31, 2022 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 2,887,195 $ 2,887,195 $ — $ — $ 2,887,195 Assets segregated for regulatory purposes 128,408 128,408 — — 128,408 Securities purchased under agreements to resell 256,991 — 256,991 — 256,991 Held to maturity securities 953,107 — 949,034 — 949,034 Loans held for sale 107,428 — 107,428 — 107,428 Loans held for investment, net 7,697,107 — 506,513 7,224,947 7,731,460 Broker-dealer and clearing organization receivables 1,610,352 — 1,610,352 — 1,610,352 Other assets 71,616 — 69,909 1,707 71,616 Financial liabilities: Deposits 12,666,702 — 12,659,980 — 12,659,980 Broker-dealer and clearing organization payables 1,397,836 — 1,397,836 — 1,397,836 Short-term borrowings 835,054 — 835,054 — 835,054 Debt 395,479 — 395,479 — 395,479 Other liabilities 8,688 — 8,688 — 8,688 Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2021 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 2,823,523 $ 2,823,523 $ — $ — $ 2,823,523 Assets segregated for regulatory purposes 221,740 221,740 — — 221,740 Securities purchased under agreements to resell 118,262 — 118,262 — 118,262 Held to maturity securities 267,684 — 276,296 — 276,296 Loans held for sale 95,599 — 95,599 — 95,599 Loans held for investment, net 7,788,552 — 733,193 7,266,732 7,999,925 Broker-dealer and clearing organization receivables 1,672,946 — 1,672,946 — 1,672,946 Other assets 73,041 — 71,290 1,751 73,041 Financial liabilities: Deposits 12,818,077 — 12,821,138 — 12,821,138 Broker-dealer and clearing organization payables 1,477,300 — 1,477,300 — 1,477,300 Short-term borrowings 859,444 — 859,444 — 859,444 Debt 387,904 — 387,904 — 387,904 Other liabilities 3,944 — 3,944 — 3,944 The Company held equity investments other than securities of $64.3 million and $54.0 million at March 31, 2022 and December 31, 2021, respectively, which are included within other assets in the consolidated balance sheets. Of the $64.3 million of such equity investments held at March 31, 2022, $28.0 million do not have readily determinable fair values and each is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The following table presents the adjustments to the carrying value of these investments during the periods presented (in thousands). Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 16,817 $ 22,844 Additional investments 11,000 — Upward adjustments 214 121 Impairments and downward adjustments (45) (60) Balance, end of period $ 27,986 $ 22,905

Securities

Securities	3 Months Ended
Securities	Mar. 31, 2022
Securities
Securities	4. Securities The fair value of trading securities is summarized as follows (in thousands). March 31, December 31, 2022 2021 U.S. Treasury securities $ 2,048 $ 3,728 U.S. government agencies: Bonds 17,504 3,410 Residential mortgage-backed securities 88,066 152,093 Collateralized mortgage obligations 134,670 126,389 Corporate debt securities 79,605 60,671 States and political subdivisions 130,903 285,376 Private-label securitized product 13,724 11,377 Other 5,243 4,954 Totals $ 471,763 $ 647,998 In addition to the securities shown above, the Hilltop Broker-Dealers enter into transactions that represent commitments to purchase and deliver securities at prevailing future market prices to facilitate customer transactions and satisfy such commitments. Accordingly, the Hilltop Broker-Dealers’ ultimate obligations may exceed the amount recognized in the financial statements. These securities, which are carried at fair value and reported as securities sold, not yet purchased in the consolidated balance sheets, had a value of $97.6 million and $96.6 million at March 31, 2022 and December 31, 2021, respectively. The amortized cost and fair value of available for sale and held to maturity securities are summarized as follows (in thousands). Available for Sale Amortized Unrealized Unrealized March 31, 2022 Cost Gains Losses Fair Value U.S. Treasury securities $ 24,916 $ — $ (446) $ 24,470 U.S. government agencies: Bonds 42,751 515 (397) 42,869 Residential mortgage-backed securities 511,749 1,338 (20,788) 492,299 Commercial mortgage-backed securities 166,003 74 (16,098) 149,979 Collateralized mortgage obligations 739,554 261 (27,231) 712,584 States and political subdivisions 41,641 404 (1,906) 40,139 Totals $ 1,526,614 $ 2,592 $ (66,866) $ 1,462,340 Available for Sale Amortized Unrealized Unrealized December 31, 2021 Cost Gains Losses Fair Value U.S. Treasury securities $ 14,937 $ — $ (75) $ 14,862 U.S. government agencies: Bonds 43,448 838 (153) 44,133 Residential mortgage-backed securities 900,084 7,979 (9,617) 898,446 Commercial mortgage-backed securities 219,460 367 (9,128) 210,699 Collateralized mortgage obligations 926,783 2,547 (12,464) 916,866 States and political subdivisions 43,923 1,839 (200) 45,562 Totals $ 2,148,635 $ 13,570 $ (31,637) $ 2,130,568 Held to Maturity Amortized Unrealized Unrealized March 31, 2022 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 325,023 $ 9 $ (50) $ 324,982 Commercial mortgage-backed securities 207,145 268 (898) 206,515 Collateralized mortgage obligations 353,954 1 (1,147) 352,808 States and political subdivisions 66,985 307 (2,563) 64,729 Totals $ 953,107 $ 585 $ (4,658) $ 949,034 Held to Maturity Amortized Unrealized Unrealized December 31, 2021 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 9,892 $ 400 $ — $ 10,292 Commercial mortgage-backed securities 145,742 5,311 — 151,053 Collateralized mortgage obligations 43,990 476 — 44,466 States and political subdivisions 68,060 2,428 (3) 70,485 Totals $ 267,684 $ 8,615 $ (3) $ 276,296 Additionally, the Company had unrealized net gains of $0.2 million at both March 31, 2022 and December 31, 2021 from equity securities with fair values of $0.2 million held at both March 31, 2022 and December 31, 2021. The Company recognized nominal net losses and gains during the three months ended March 31, 2022 and 2021, respectively, due to changes in the fair value of equity securities still held at the balance sheet date. During the three months ended March 31, 2022 and 2021, net losses and gains recognized from equity securities sold were nominal. The Company transferred certain agency-issued securities from the available-for-sale to held-to-maturity portfolio on March 31, 2022 having a book value of approximately $782 million and a market value of approximately $708 million. As of the date of transfer, the related pre-tax net unrecognized losses of approximately $74 million within the accumulated other comprehensive loss balance are being amortized over the remaining term of the securities using the effective interest method. This transfer was completed after careful consideration of the Company’s intent and ability to hold these securities to maturity. Factors used in assessing the ability to hold these securities to maturity were future liquidity needs and sources of funding. Information regarding available for sale and held to maturity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). March 31, 2022 December 31, 2021 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Available for Sale U.S. treasury securities: Unrealized loss for less than twelve months 3 $ 24,470 $ 446 2 $ 14,862 $ 75 Unrealized loss for twelve months or longer — — — — — — 3 24,470 446 2 14,862 75 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 2 9,664 335 2 9,904 94 Unrealized loss for twelve months or longer 1 6,116 62 1 6,184 59 3 15,780 397 3 16,088 153 Residential mortgage-backed securities: Unrealized loss for less than twelve months 72 454,914 15,871 52 548,392 6,915 Unrealized loss for twelve months or longer 24 195,127 4,917 17 104,378 2,702 96 650,041 20,788 69 652,770 9,617 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 7 87,051 9,222 5 65,636 1,776 Unrealized loss for twelve months or longer 5 50,908 6,876 14 138,619 7,352 12 137,959 16,098 19 204,255 9,128 Collateralized mortgage obligations: Unrealized loss for less than twelve months 106 762,632 25,447 72 618,464 11,316 Unrealized loss for twelve months or longer 13 76,562 1,784 10 62,647 1,148 119 839,194 27,231 82 681,111 12,464 States and political subdivisions: Unrealized loss for less than twelve months 28 15,072 1,304 14 5,576 200 Unrealized loss for twelve months or longer 6 2,124 602 — — — 34 17,196 1,906 14 5,576 200 Total available for sale: Unrealized loss for less than twelve months 218 1,353,803 52,625 147 1,262,834 20,376 Unrealized loss for twelve months or longer 49 330,837 14,241 42 311,828 11,261 267 $ 1,684,640 $ 66,866 189 $ 1,574,662 $ 31,637 March 31, 2022 December 31, 2021 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Held to Maturity Residential mortgage-backed securities: Unrealized loss for less than twelve months 3 $ 5,318 $ 50 — $ — $ — Unrealized loss for twelve months or longer — — — — — — 3 5,318 50 — — — Commercial mortgage-backed securities: Unrealized loss for less than twelve months 15 88,404 898 — — — Unrealized loss for twelve months or longer — — — — — — 15 88,404 898 — — — Collateralized mortgage obligations: Unrealized loss for less than twelve months 18 38,027 1,147 — — — Unrealized loss for twelve months or longer — — — — — — 18 38,027 1,147 — — — States and political subdivisions: Unrealized loss for less than twelve months 104 38,828 2,524 2 558 1 Unrealized loss for twelve months or longer 1 228 39 1 266 2 105 39,056 2,563 3 824 3 Total held to maturity: Unrealized loss for less than twelve months 140 170,577 4,619 2 558 1 Unrealized loss for twelve months or longer 1 228 39 1 266 2 141 $ 170,805 $ 4,658 3 $ 824 $ 3 Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. The amortized cost and fair value of securities, excluding trading and equity securities, at March 31, 2022 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 $ 21,653 $ 21,538 $ 275 $ 275 Due after one year through five years 36,299 35,934 897 898 Due after five years through ten years 17,304 17,539 16,014 15,865 Due after ten years 34,052 32,467 49,799 47,691 109,308 107,478 66,985 64,729 Residential mortgage-backed securities 511,749 492,299 325,023 324,982 Collateralized mortgage obligations 739,554 712,584 353,954 352,808 Commercial mortgage-backed securities 166,003 149,979 207,145 206,515 $ 1,526,614 $ 1,462,340 $ 953,107 $ 949,034 The Company recognized net losses of $11.5 million and net gains of $8.7 million from its trading portfolio during the three months ended March 31, 2022 and 2021, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $6.7 million and $44.1 million during the three months ended March 31, 2022 and 2021, respectively. The Company had nominal other realized gains on securities during the three months ended March 31, 2022 and $0.1 million in other realized losses on securities during the three months ended March 31, 2021. All such realized gains and losses are recorded as a component of other noninterest income within the consolidated statements of operations. Securities with a carrying amount of $868.3 million and $809.9 million (with a fair value of $839.6 million and $817.7 million, respectively) at March 31, 2022 and December 31, 2021, respectively, were pledged by the Bank to secure public and trust deposits, federal funds purchased and securities sold under agreements to repurchase, and for other purposes as required or permitted by law. Substantially all of these pledged securities were included in the available for sale and held to maturity securities portfolios at March 31, 2022 and December 31, 2021. Mortgage-backed securities and collateralized mortgage obligations consist primarily of Government National Mortgage Association (“GNMA”), Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”) pass-through and participation certificates. GNMA securities are guaranteed by the full faith and credit of the United States, while FNMA and FHLMC securities are fully guaranteed by those respective United States government-sponsored enterprises, and conditionally guaranteed by the full faith and credit of the United States.

Loans Held for Investment

Loans Held for Investment	3 Months Ended
Loans Held for Investment	Mar. 31, 2022
Loans Held for Investment
Loans Held for Investment	5. 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). March 31, December 31, 2022 2021 Commercial real estate $ 3,105,734 $ 3,042,729 Commercial and industrial (1) 1,820,476 1,875,420 Construction and land development 942,929 892,783 1-4 family residential 1,394,334 1,303,430 Consumer 27,917 32,349 Broker-dealer (2) 506,513 733,193 7,797,903 7,879,904 Allowance for credit losses (91,185) (91,352) Total loans held for investment, net of allowance $ 7,706,718 $ 7,788,552 (1) Included loans totaling $37.7 million and $77.7 million at March 31, 2022 and December 31, 2021, respectively, 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 March 31, 2022 December 31, 2021 Interest Income Recognized With With No With With No Three Months Ended March 31, Allowance Allowance Total Allowance Allowance Total 2022 2021 Commercial real estate: Non-owner occupied $ 408 $ 868 $ 1,276 $ 413 $ 1,853 $ 2,266 $ 97 $ 74 Owner occupied 3,036 1,841 4,877 3,058 1,277 4,335 83 90 Commercial and industrial 13,140 5,346 18,486 16,536 5,942 22,478 188 143 Construction and land development 1 — 1 2 — 2 7 15 1-4 family residential 1,072 15,784 16,856 902 17,306 18,208 421 924 Consumer 21 — 21 23 — 23 — — Broker-dealer — — — — — — — — $ 17,678 $ 23,839 $ 41,517 $ 20,934 $ 26,378 $ 47,312 $ 796 $ 1,246 At March 31, 2022 and December 31, 2021, $1.9 million and $2.9 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 decreased from December 31, 2021 to March 31, 2022, by $5.8 million. The change in nonaccrual loans was primarily due to decreases in commercial and industrial loans of $4.0 million, 1-4 family residential loans of $1.4 million, and commercial real estate non-owner occupied loans of $1.0 million, partially offset by an increase in real estate owner occupied loans of $0.5 million. The respective decreases in commercial and industrial loans and commercial real estate non-owner occupied loans in non-accrual status since December 31, 2021 were primarily due to principal paydowns associated with four relationships. 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 . During the three months ended March 31, 2022 there was one TDR granted with a balance at date of extension of $0.6 million and a balance at March 31, 2022 of $0.6 million, while there were no TDRs granted during the three months ended March 31, 2021 that do not qualify for the CARES Act exemption. The Bank had no unadvanced commitments to borrowers whose loans had been restructured in TDRs at March 31, 2022 and nominal commitments to such borrowers at December 31, 2021. There were no TDRs granted during the twelve months preceding March 31, 2022 and 2021 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 Past Current Total Past Due March 31, 2022 30-59 Days 60-89 Days 90 Days or More Due Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ — $ — $ 199 $ 199 $ 1,812,273 $ 1,812,472 $ — Owner occupied 672 113 2,265 3,050 1,290,212 1,293,262 — Commercial and industrial 4,495 67 12,274 16,836 1,803,640 1,820,476 — Construction and land development — — — — 942,929 942,929 — 1-4 family residential 7,355 956 5,269 13,580 1,380,754 1,394,334 100 Consumer 122 97 20 239 27,678 27,917 — Broker-dealer — — — — 506,513 506,513 — $ 12,644 $ 1,233 $ 20,027 $ 33,904 $ 7,763,999 $ 7,797,903 $ 100 Accruing Loans Loans Past Due Loans Past Due Loans Past Due Total Past Current Total Past Due December 31, 2021 30-59 Days 60-89 Days 90 Days or More Due Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 117 $ — $ 1,173 $ 1,290 $ 1,728,409 $ 1,729,699 $ — Owner occupied 590 688 2,273 3,551 1,309,479 1,313,030 — Commercial and industrial 1,059 277 13,640 14,976 1,860,444 1,875,420 1 Construction and land development 946 — — 946 891,837 892,783 — 1-4 family residential 7,642 2,738 4,842 15,222 1,288,208 1,303,430 100 Consumer 123 22 22 167 32,182 32,349 — Broker-dealer — — — — 733,193 733,193 — $ 10,477 $ 3,725 $ 21,950 $ 36,152 $ 7,843,752 $ 7,879,904 $ 101 In addition to the loans shown in the tables above, PrimeLending had $87.4 million and $60.7 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $88.3 million and $61.7 million, respectively) that were 90 days past due and accruing interest at March 31, 2022 and December 31, 2021, 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 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 criteria 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 March 31, 2022, PrimeLending had $37.4 million of loans subject to repurchase under a forbearance agreement related to delinquencies on or after April 1, 2020. Management tracks credit quality trends on a quarterly basis related to: (i) past due levels, (ii) non-performing asset levels, (iii) classified loan levels, and (iv) general economic conditions in state and local markets. The Company defines classified loans as loans with a risk rating of substandard, doubtful or loss. There have been no changes to the risk rating internal grades utilized for commercial loans as described in detail in Note 6 to the consolidated financial statements in the Company’s 2021 Form 10-K. 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 2017 and March 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total Commercial real estate: non-owner occupied Internal Grade 1-3 (Pass low risk) $ 46,615 $ 21,875 $ 15,853 $ 4,698 $ 8,920 $ 11,687 $ — $ 109,648 Internal Grade 4-7 (Pass normal risk) 95,564 315,087 171,618 99,716 48,529 73,652 43,970 848,136 Internal Grade 8-11 (Pass high risk and watch) 61,069 218,841 174,513 111,858 79,166 121,205 1,357 768,009 Internal Grade 12 (Special mention) — — — 3,093 — — — 3,093 Internal Grade 13 (Substandard accrual) 14,671 23,918 4,148 15,352 9,159 15,062 — 82,310 Internal Grade 14 (Substandard non-accrual) — 407 — — — 869 — 1,276 Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 10,579 $ 107,384 $ 58,612 $ 14,701 $ 24,999 $ 66,334 $ 4,902 $ 287,511 Internal Grade 4-7 (Pass normal risk) 40,171 196,366 98,866 95,547 81,919 82,779 17,853 613,501 Internal Grade 8-11 (Pass high risk and watch) 24,342 83,691 101,623 37,621 69,770 36,185 880 354,112 Internal Grade 12 (Special mention) — — — — — — — — Internal Grade 13 (Substandard accrual) — 579 8,939 1,940 6,788 15,015 — 33,261 Internal Grade 14 (Substandard non-accrual) 634 1,535 — (4) 340 2,372 — 4,877 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 11,989 $ 39,228 $ 23,278 $ 26,431 $ 5,590 $ 9,029 $ 105,205 $ 220,750 Internal Grade 4-7 (Pass normal risk) 68,770 125,092 76,928 21,534 18,220 20,850 315,926 647,320 Internal Grade 8-11 (Pass high risk and watch) 28,620 98,569 66,526 24,775 9,771 8,719 273,923 510,903 Internal Grade 12 (Special mention) — — — — — — — — Internal Grade 13 (Substandard accrual) — 2,454 11,835 4,552 5,405 7,210 7,202 38,658 Internal Grade 14 (Substandard non-accrual) 184 3,228 14,239 15 348 472 — 18,486 Construction and land development Internal Grade 1-3 (Pass low risk) $ 6,065 $ 11,647 $ 36,455 $ 3,120 $ 1,550 $ 3,223 $ 1 $ 62,061 Internal Grade 4-7 (Pass normal risk) 78,010 301,661 100,930 14,959 3,033 3,556 37,517 539,666 Internal Grade 8-11 (Pass high risk and watch) 70,820 171,810 30,082 5,002 749 1,690 34,941 315,094 Internal Grade 12 (Special mention) — — — — — — — — Internal Grade 13 (Substandard accrual) — 1,369 — 27 — 5,299 — 6,695 Internal Grade 14 (Substandard non-accrual) — — — — — 1 — 1 Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 179 1,322 — — 1,004 — — 2,505 FICO greater than 720 5,387 9,105 56 — — — — 14,548 Substandard non-accrual — — — — — — — — Other (1) 1,516 843 — — — — — 2,359 1-4 family residential FICO less than 620 $ — $ 548 $ 458 $ 608 $ 3,585 $ 24,556 $ 240 $ 29,995 FICO between 620 and 720 8,914 15,083 9,742 6,563 7,038 30,351 2,746 80,437 FICO greater than 720 85,058 800,097 116,004 49,919 29,163 59,967 3,598 1,143,806 Substandard non-accrual — — (5) 791 271 15,799 — 16,856 Other (1) 17,246 81,074 8,941 5,675 3,468 6,447 389 123,240 Consumer FICO less than 620 $ 150 $ 956 $ 285 $ 352 $ 34 $ 113 $ 360 $ 2,250 FICO between 620 and 720 1,859 2,648 797 679 91 471 1,961 8,506 FICO greater than 720 2,742 2,675 1,799 645 163 14 3,042 11,080 Substandard non-accrual — — — — — 21 — 21 Other (1) 1,960 2,926 568 293 27 28 258 6,060 Total loans with credit quality measures $ 683,114 $ 2,642,018 $ 1,133,090 $ 550,462 $ 419,100 $ 622,976 $ 856,271 $ 6,907,031 Commercial and industrial (mortgage warehouse lending) $ 337,097 Commercial and industrial (Paycheck Protection Program loans) $ 37,651 Commercial and industrial (loans accounted for at fair value) $ 9,611 Broker-Dealer (margin loans and correspondent receivables) $ 506,513 Total loans held for investment $ 7,797,903 (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	3 Months Ended
Allowance for Credit Losses	Mar. 31, 2022
Allowance for Credit Losses
Allowance for Credit Losses	6. 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 decline 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 March 31, 2022. In addition, as of March 31, 2022, 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’s methodology for determining the allowance for credit losses uses the current expected credit losses (“CECL”) standard. Management considers the level of allowance for credit losses to be a reasonable and supportable estimate of expected credit losses inherent within the loans held for investment portfolio as of March 31, 2022. While the Company believes it has an appropriate allowance for the existing loan portfolio at March 31, 2022, 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 in the Company’s 2021 Form 10-K. 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 March 31, 2022, the Company utilized a single macroeconomic alternative scenario, or S7, published by Moody’s Analytics in March 2022 that was updated to reflect the U.S. economic outlook. This alternative economic scenario expects the economy to continue to grow in 2022 as the military conflict between Russia and Ukraine resolves itself in the baseline scenario, except inflation continues to trend higher than expectation as supply-chain issues and tight labor market conditions persist during the reasonable and supportable period. Federal Reserve monetary policy raises interest rates faster and higher than the baseline scenario where the federal funds rate increases to 1.4% by the end of 2022 and 3.1% by the end of 2023. Other 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 adversely impacted financial markets and overall economic conditions, and may continue to have implications on borrowers across our lending portfolios. Significant judgment is required to estimate the severity and duration of the current economic uncertainties, as well as its potential impact on borrower defaults and loss severity. In particular, macroeconomic conditions and forecasts are rapidly changing and remain highly uncertain. During the three months ended March 31, 2021, the allowance was primarily comprised of a net reversal of credit losses on expected losses of collectively evaluated loans of $6.5 million primarily due to improvements in the macroeconomic forecast assumptions from the prior quarter, partially offset by slower prepayment assumptions on certain commercial real estate and construction and land portfolios, as well as an increase in the provision for credit losses on individually evaluated loans of $1.4 million primarily related to changes in risk rating grades and updated realizable values. The change in the allowance for credit losses during the three months ended March 31, 2021 was primarily attributable to the Bank and also reflected other factors including, but not limited to, loan growth, loan mix, and changes in qualitative factors from the prior quarter. The change in the allowance during the three months ended March 31, 2021 was also impacted by net recoveries of $0.6 million. During the three months ended March 31, 2022, the increase in the allowance reflected a slower U.S. economic outlook since the prior quarter, significantly offset by decreases in specific reserves and positive risk rating grade migration. The net impact to the allowance of changes associated with individually evaluated loans during the three months ended March 31, 2022 included a provision for credit losses of $0.3 million, while collectively evaluated loans included a reversal of credit losses of $0.2 million. The changes in the allowance for credit losses during the current period were primarily attributable to the Bank and also reflected other factors including, but not limited to, loan mix, changes in loan balances and qualitative factors from the prior quarter. The changes in the allowance during the three months ended March 31, 2022 were also impacted by net charge-offs of $0.3 million. Changes in the allowance for credit losses for loans held for investment, distributed by portfolio segment, are shown below (in thousands). Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended March 31, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 59,354 $ 975 $ — $ 32 $ 60,361 Commercial and industrial 21,982 (1,550) (1,209) 907 20,130 Construction and land development 4,674 841 — — 5,515 1-4 family residential 4,589 (247) (15) 13 4,340 Consumer 578 (69) (113) 103 499 Broker-dealer 175 165 — — 340 Total $ 91,352 $ 115 $ (1,337) $ 1,055 $ 91,185 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended March 31, 2021 Period Credit Losses Charged Off Loans Period Commercial real estate $ 109,629 $ (5,517) $ — $ 14 $ 104,126 Commercial and industrial 27,703 556 (179) 433 28,513 Construction and land development 6,677 572 — — 7,249 1-4 family residential 3,946 (857) (110) 409 3,388 Consumer 876 71 (79) 76 944 Broker-dealer 213 66 — — 279 Total $ 149,044 $ (5,109) $ (368) $ 932 $ 144,499 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 Probability of Default grade and Loss Given Default grade for that particular loan segment. The Bank estimates expected losses by calculating a commitment usage factor based on industry usage factors. The commitment usage factor is applied over the relevant contractual period. Loss factors from the underlying loans to which commitments are related are applied to the results of the usage calculation to estimate any liability for credit losses related for each loan type. The expected losses on unfunded commitments align with statistically calculated parameters used to calculate the allowance for credit losses on the funded portion. There is no reserve calculated for letters of credit as they are issued primarily as credit enhancements and the likelihood of funding is low. Changes in the allowance for credit losses for loans with off-balance sheet credit exposures are shown below (in thousands). Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 5,880 $ 8,388 Other noninterest expense 607 419 Balance, end of period $ 6,487 $ 8,807 During the three months ended March 31, 2021, the increase in the reserve for unfunded commitments was primarily due to increases in available commitment balances, while during the three months ended March 31, 2022, the increase in the reserve for unfunded commitments was primarily due to increases in both loan expected loss rates and available commitment balances.

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
Mortgage Servicing Rights	Mar. 31, 2022
Mortgage Servicing Rights
Mortgage Servicing Rights	7. Mortgage Servicing Rights The following tables present the changes in fair value of the Company’s MSR asset and other information related to the serviced portfolio (dollars in thousands). Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 86,990 $ 143,742 Additions 7,301 34,301 Sales (1,876) (52,783) Changes in fair value: Due to changes in model inputs or assumptions (1) 10,856 24,137 Due to customer payoffs (2,796) (7,272) Balance, end of period $ 100,475 $ 142,125 March 31, December 31, 2022 2021 Mortgage loans serviced for others (2) $ 6,432,236 $ 6,355,927 MSR asset as a percentage of serviced mortgage loans 1.56 % 1.37 % (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. Included in the three months ended March 31, 2021 are MSR asset fair value adjustments totaling $9.7 million, which reflect the difference between the MSR carrying value and the sales price reflected in the letter of intent to sell the applicable MSR assets. (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. March 31, December 31, 2022 2021 Weighted average constant prepayment rate 8.47 % 10.02 % Weighted average discount rate 14.36 % 14.32 % Weighted average life (in years) 7.8 7.1 A sensitivity analysis of the fair value of the Company’s MSR asset to certain key assumptions is presented in the following table (in thousands). March 31, December 31, 2022 2021 Constant prepayment rate: Impact of 10% adverse change $ (1,047) $ (2,603) Impact of 20% adverse change (2,289) (5,315) Discount rate: Impact of 10% adverse change (5,025) (4,070) Impact of 20% adverse change (9,556) (7,753) This sensitivity analysis presents the effect of hypothetical changes in key assumptions on the fair value of the MSR asset. The effect of such hypothetical change in assumptions generally cannot be extrapolated because the relationship of the change in one key assumption to the change in the fair value of the MSR asset is not linear. In addition, in the analysis, the impact of an adverse change in one key assumption is calculated independent of any impact on other assumptions. In reality, changes in one assumption may change another assumption. Contractually specified servicing fees, late fees and ancillary fees earned of $8.5 million and $16.2 million during the three months ended March 31, 2022 and 2021, respectively, were included in net gains from sale of loans and other mortgage production income within the consolidated statements of operations.

Deposits

Deposits	3 Months Ended
Deposits	Mar. 31, 2022
Deposits
Deposits	8. Deposits Deposits are summarized as follows (in thousands). March 31, December 31, 2022 2021 Noninterest-bearing demand $ 4,694,592 $ 4,577,183 Interest-bearing: Demand accounts 3,198,506 3,270,522 Brokered - demand 101,058 114,393 Money market 3,277,619 3,433,341 Brokered - money market 103,998 98,614 Savings 356,036 345,795 Time 919,416 962,752 Brokered - time 15,477 15,477 $ 12,666,702 $ 12,818,077 At March 31, 2022, remaining maturities of uninsured time deposits greater than $250,000 were $416.3 million.

Short-term Borrowings

Short-term Borrowings	3 Months Ended
Short-term Borrowings	Mar. 31, 2022
Short-term Borrowings
Short-term Borrowings	9. Short-term Borrowings Short-term borrowings are summarized as follows (in thousands). March 31, December 31, 2022 2021 Federal funds purchased $ 286,550 $ 171,925 Securities sold under agreements to repurchase 168,445 191,547 Federal Home Loan Bank — — Short-term bank loans 25,500 142,000 Commercial paper 354,559 353,972 $ 835,054 $ 859,444 Federal Funds Purchased and Securities Sold under Agreements to Repurchase Federal funds purchased and securities sold under agreements to repurchase generally mature one to ninety days from the transaction date, on demand, or on some other short-term basis. The Bank and the Hilltop Broker-Dealers execute transactions to sell securities under agreements to repurchase with both customers and other broker-dealers. Securities involved in these transactions are held by the Bank, the Hilltop Broker-Dealers or a third-party dealer. Information concerning federal funds purchased and securities sold under agreements to repurchase is shown in the following tables (dollars in thousands). Three Months Ended March 31, 2022 2021 Average balance during the period $ 429,000 $ 367,313 Average interest rate during the period 0.34 % 0.36 % March 31, December 31, 2022 2021 Average interest rate at end of period 0.38 % 0.31 % Securities underlying the agreements at end of period: Carrying value $ 268,423 $ 191,483 Estimated fair value $ 281,993 $ 205,734 Federal Home Loan Bank (“FHLB”) FHLB short-term borrowings mature over terms not exceeding 365 days and are collateralized by FHLB Dallas stock, nonspecified real estate loans and certain specific commercial real estate loans. The Company had no FHLB short-term borrowings during the three months ended March 31, 2022 and 2021. Short-Term Bank Loans The Hilltop Broker-Dealers use short-term bank loans periodically to finance securities owned, margin loans to customers and correspondents and underwriting activities. Interest on the borrowings varies with the federal funds rate. The weighted average interest rate on the borrowings at March 31, 2022 was 1.50%. Commercial Paper Hilltop Securities uses the net proceeds (after deducting related issuance expenses) from the sale of two commercial paper programs for general corporate purposes, including working capital and the funding of a portion of its securities inventories. The commercial paper notes (“CP Notes”) may be issued with maturities of 14 days to 270 days from the date of issuance. The CP Notes are issued under two separate programs, Series 2019-1 CP Notes and Series 2019-2 CP Notes, in maximum aggregate amounts of $300 million and $200 million, respectively. The CP Notes are not redeemable prior to maturity or subject to voluntary prepayment and do not bear interest, but are sold at a discount to par. The CP Notes are secured by a pledge of collateral owned by Hilltop Securities. As of March 31, 2022, the weighted average maturity of the CP Notes was 143 days at a rate of 1.17%, with a weighted average remaining life of 77 days. At March 31, 2022, the aggregate amount outstanding under these secured arrangements was $354.6 million, which was collateralized by securities held for firm accounts valued at $381.4 million.

Notes Payable

Notes Payable	3 Months Ended
Notes Payable	Mar. 31, 2022
Notes Payable
Notes Payable	10. Notes Payable Notes payable consisted of the following (in thousands). March 31, December 31, 2022 2021 Senior Notes due April 2025, net of discount of $840 and $886, respectively $ 149,160 $ 149,114 Subordinated Notes due May 2030, net of discount of $681 and $704, respectively 49,319 49,296 Subordinated Notes due May 2035, net of discount of $2,175 and $2,220, respectively 147,825 147,780 Ventures Management lines of credit 49,175 41,714 $ 395,479 $ 387,904

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2022
Leases
Leases	11. Leases Supplemental balance sheet information related to finance leases is as follows (in thousands). March 31, December 31, 2022 2021 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (5,505) (5,358) Premises and equipment, net $ 2,275 $ 2,422 The components of lease costs, including short-term lease costs, are as follows (in thousands). Three Months Ended March 31, 2022 2021 Operating lease cost $ 9,606 $ 9,718 Less operating lease and sublease income (569) (339) Net operating lease cost $ 9,037 $ 9,379 Finance lease cost: Amortization of ROU assets $ 147 $ 147 Interest on lease liabilities 124 134 Total finance lease cost $ 271 $ 281 Supplemental cash flow information related to leases is as follows (in thousands). Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,767 $ 9,240 Operating cash flows from finance leases 125 134 Financing cash flows from finance leases 184 167 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 1,276 $ 6,334 Finance leases — — Information regarding the lease terms and discount rates of the Company’s leases is as follows. March 31, 2022 December 31, 2021 Weighted Average Weighted Average Remaining Lease Weighted Average Remaining Lease Weighted Average Lease Classification Term (Years) Discount Rate Term (Years) Discount Rate Operating 5.8 3.83 % 5.9 3.89 % Finance 4.6 4.85 % 4.8 4.84 % Future minimum lease payments under lease agreements as of March 31, 2022, are presented below (in thousands). Operating Leases Finance Leases 2022 $ 17,946 $ 932 2023 31,250 1,280 2024 22,980 1,163 2025 16,648 886 2026 13,487 813 Thereafter 38,805 598 Total minimum lease payments 141,116 5,672 Less amount representing interest (15,197) (1,687) Lease liabilities $ 125,919 $ 3,985 As of March 31, 2022, the Company had additional operating leases that have not yet commenced with aggregate future minimum lease payments of approximately $0.9 million. These operating leases commenced in April 2022 with lease terms ranging from three

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Taxes
Income Taxes	12. Income Taxes The Company applies an estimated annual effective rate to interim period pre-tax income to calculate the income tax provision for the quarter in accordance with the principal method prescribed by the accounting guidance established for computing income taxes in interim periods. The Company’s effective tax rates were 19.4% and 23.4% for the three months ended March 31, 2022 and 2021, respectively. The effective tax rate for the three months ended March 31, 2022 was lower than the applicable statutory rate primarily due to the discrete impact of restricted stock vesting during the quarter.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	13. Commitments and Contingencies Legal Matters The Company is subject to loss contingencies related to litigation, claims, investigations and legal and administrative cases and proceedings arising in the ordinary course of business. The Company evaluates these contingencies based on information currently available, including advice of counsel. The Company establishes accruals for those matters when a loss contingency is considered probable and the related amount is reasonably estimable. Any accruals are periodically reviewed and may be adjusted as circumstances change. A portion of the Company’s exposure with respect to loss contingencies may be offset by applicable insurance coverage. In determining the amounts of any accruals or estimates of possible loss contingencies, the Company does not take into account the availability of insurance coverage. When it is practicable, the Company estimates loss contingencies for possible litigation and claims, whether or not there is an accrued probable loss. When the Company is able to estimate such probable losses, and when it estimates that it is reasonably possible it could incur losses in excess of amounts accrued, the Company is required to make a disclosure of the aggregate estimation. As available information changes, however, the matters for which the Company is able to estimate, as well as the estimates themselves, will be adjusted accordingly. Assessments of litigation and claims exposures are difficult due to many factors that involve inherent unpredictability. Those factors include the following: the varying stages of the proceedings, particularly in the early stages; unspecified, unsupported, or uncertain damages; damages other than compensatory, such as punitive damages; a matter presenting meaningful legal uncertainties, including novel issues of law; multiple defendants and jurisdictions; whether discovery has begun or is complete; whether meaningful settlement discussions have commenced; and whether the claim involves a class action and if so, how the class is defined. As a result of some of these factors, the Company may be unable to estimate reasonably possible losses with respect to some or all of the pending and threatened litigation and claims asserted against the Company. 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. PrimeLending received an investigative inquiry from the United States Attorney for the Western District of Virginia regarding PrimeLending’s float down option. At this time, the United States Attorney has requested certain materials with respect to this matter, and PrimeLending is fully cooperating with such requests. 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 March 31, 2022 and December 31, 2021, the mortgage origination segment’s indemnification liability reserve totaled $27.3 million and $27.4 million, respectively. The provision for indemnification losses was $0.5 million and $3.0 million during the three months ended March 31, 2022 and 2021, respectively. The following tables provide for a rollforward of claims activity for loans put-back to the mortgage origination segment based upon an alleged breach of a representation or warranty with respect to a loan sold and related indemnification liability reserve activity (in thousands). Representation and Warranty Specific Claims Activity - Origination Loan Balance Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 31,407 $ 30,085 Claims made 9,842 5,112 Claims resolved with no payment (4,521) (2,914) Repurchases (6,457) (1,811) Indemnification payments — (335) Balance, end of period $ 30,271 $ 30,137 Indemnification Liability Reserve Activity Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 27,424 $ 21,531 Additions for new sales 753 3,007 Repurchases (565) (124) Early payment defaults (71) (12) Indemnification payments — (141) Change in reserves for loans sold in prior years (291) — Balance, end of period $ 27,250 $ 24,261 March 31, December 31, 2022 2021 Reserve for Indemnification Liability: Specific claims $ 550 $ 345 Incurred but not reported claims 26,700 27,079 Total $ 27,250 $ 27,424 Although management considers the total indemnification liability reserve to be appropriate, there may be changes in the reserve over time to address incurred losses due to unanticipated adverse changes in the economy and historical loss patterns, discrete events adversely affecting specific borrowers or industries, and/or actions taken by institutions or investors. The impact of such matters is considered in the reserving process when probable and estimable.

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	3 Months Ended
Financial Instruments with Off-Balance Sheet Risk	Mar. 31, 2022
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	14. Financial Instruments with Off-Balance Sheet Risk Banking The Bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit that involve varying degrees of credit and interest rate risk in excess of the amount recognized in the consolidated financial statements. Such financial instruments are recorded in the consolidated financial statements when they are funded or related fees are incurred or received. The contract amounts of those instruments reflect the extent of involvement (and therefore the exposure to credit loss) the Bank has in particular classes of financial instruments. Commitments to extend credit are agreements to lend to a customer provided that the terms established in the contract are met. Commitments generally have fixed expiration dates and may require payment of fees. Because some commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third-party. These letters of credit are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan commitments to customers. In the aggregate, the Bank had outstanding unused commitments to extend credit of $2.3 billion at March 31, 2022 and outstanding financial and performance standby letters of credit of $106.2 million at March 31, 2022. 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	3 Months Ended
Stock-Based Compensation	Mar. 31, 2022
Stock-Based Compensation
Stock-Based Compensation	15. Stock-Based Compensation Since 2012, the Company has issued stock-based incentive awards pursuant to the Hilltop Holdings Inc. 2012 Equity Incentive Plan (the “2012 Plan”). In July 2020, pursuant to stockholders’ approval, the Company adopted the Hilltop Holdings Inc. 2020 Equity Incentive Plan (the “2020 Plan”). The 2020 Plan serves as successor to the 2012 Plan. During the three months ended March 31, 2022 and 2021, Hilltop granted 5,064 and 4,181 shares of common stock, respectively, pursuant to the 2020 Equity Plans to certain non-employee members of the Company’s board of directors for services rendered to the Company. Restricted Stock Units The following table summarizes information about nonvested restricted stock unit (“RSU”) activity for the three months ended March 31, 2022 (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2021 1,869 $ 23.16 Granted 527 $ 33.49 Vested/Released (598) $ 19.12 Forfeited (1) $ 26.51 Balance, March 31, 2022 1,797 $ 27.53 Vested/Released RSUs include an aggregate of 129,704 shares withheld to satisfy employee statutory tax obligations during the three months ended March 31, 2022. During the three months ended March 31, 2022, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 453,814 RSUs pursuant to the 2020 Equity Plans. Of the RSUs granted during the three months ended March 31, 2022, 318,256 that were outstanding at March 31, 2022, are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date. Of the RSUs granted during the three months ended March 31, 2022, 135,558 that were outstanding at March 31, 2022 At March 31, 2022, in the aggregate, 1,388,022 of the outstanding RSUs are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date, and 408,458 outstanding RSUs cliff vest based upon the achievement of certain performance goals over a three-year period. At March 31, 2022

Regulatory Matters

Regulatory Matters	3 Months Ended
Regulatory Matters	Mar. 31, 2022
Regulatory Matters
Regulatory Matters	16. Regulatory Matters Banking and Hilltop PlainsCapital, which includes the Bank and PrimeLending, and Hilltop are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory — and possibly additional discretionary — actions by regulators that, if undertaken, could have a direct, material effect on the consolidated financial statements. The regulations require PlainsCapital and Hilltop to meet specific capital adequacy guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company performs reviews of the classification and calculation of risk-weighted assets to ensure accuracy and compliance with the Basel III regulatory capital requirements as implemented by the Board of Governors of the Federal Reserve System. The capital classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the companies to maintain minimum amounts and ratios (set forth in the following table) of Tier 1 capital (as defined in the regulations) to total average assets (as defined), and minimum ratios of common equity Tier 1, Tier 1 and total capital (as defined) to risk-weighted assets (as defined). In order to avoid limitations on capital distributions, including dividend payments, stock repurchases and certain discretionary bonus payments to executive officers, Basel III requires banking organizations to maintain a capital conservation buffer above minimum risk-based capital requirements measured relative to risk-weighted assets. The following table shows PlainsCapital’s and Hilltop’s actual capital amounts and ratios in accordance with Basel III compared to the regulatory minimum capital requirements including conservation buffer ratio in effect at the end of the period (dollars in thousands). Based on actual capital amounts and ratios shown in the following table, PlainsCapital’s ratios place it in the “well capitalized” (as defined) capital category under regulatory requirements. Actual capital amounts and ratios as of March 31, 2022 reflect PlainsCapital’s and Hilltop’s decision to elect the transition option as issued by the federal banking regulatory agencies in March 2020 that permits banking institutions to mitigate the estimated cumulative regulatory capital effects from CECL over a five-year transitionary period. Minimum Capital Requirements Including Conservation To Be Well March 31, 2022 December 31, 2021 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,445,107 9.74 % $ 1,469,695 10.20 % 4.0 % 5.0 % Hilltop 2,274,879 12.46 % 2,262,356 12.58 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,445,107 15.37 % 1,469,695 16.00 % 7.0 % 6.5 % Hilltop 2,274,879 21.27 % 2,262,356 21.22 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,445,107 15.37 % 1,469,695 16.00 % 8.5 % 8.0 % Hilltop 2,274,879 21.27 % 2,262,356 21.22 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,521,598 16.18 % 1,540,100 16.77 % 10.5 % 10.0 % Hilltop 2,550,742 23.85 % 2,532,008 23.75 % 10.5 % N/A Broker-Dealer Pursuant to the net capital requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Hilltop Securities has elected to determine its net capital requirements using the alternative method. Accordingly, Hilltop Securities is required to maintain minimum net capital, as defined in Rule 15c3-1 promulgated under the Exchange Act, equal to the greater of $1,000,000 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 March 31, 2022, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). Momentum Hilltop Independent Securities Network Net capital $ 203,920 $ 4,370 Less: required net capital 10,335 250 Excess net capital $ 193,585 $ 4,120 Net capital as a percentage of aggregate debit items 39.5 % Net capital in excess of 5% aggregate debit items $ 178,083 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 March 31, 2022 and December 31, 2021, the Hilltop Broker-Dealers held cash of $128.4 million and $221.7 million, respectively, segregated in special reserve bank accounts for the benefit of customers. The Hilltop Broker-Dealers were not required to segregate cash and securities in special reserve accounts for the benefit of proprietary accounts of introducing broker-dealers at March 31, 2022 or December 31, 2021. Mortgage Origination As a mortgage originator, PrimeLending and its subsidiaries are subject to minimum net worth and liquidity requirements established by HUD and GNMA, as applicable. On an annual basis, PrimeLending and its subsidiaries submit audited financial statements to HUD and GNMA, as applicable, documenting their respective compliance with minimum net worth and liquidity requirements. As of March 31, 2022, PrimeLending and its subsidiaries’ net worth and liquidity exceeded the amounts required by both HUD and GNMA, as applicable.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2022
Stockholders' Equity
Stockholders' Equity	17. Stockholders’ Equity Dividends During the three months ended March 31, 2022 and 2021, the Company declared and paid cash dividends of $0.15 and $0.12 per common share, or an aggregate of $11.8 million and $9.9 million, respectively. On April 21, 2022, Hilltop’s board of directors declared a quarterly cash dividend of $0.15 per common share, payable on May 27, 2022, to all common stockholders of record as of the close of business on May 13, 2022. Stock Repurchases In January 2022, the Hilltop board of directors authorized a new stock repurchase program through January 2023, pursuant to which the Company is authorized to repurchase, in the aggregate, up to $100.0 million of its outstanding common stock, inclusive of repurchases to offset dilution related to grants of stock-based compensation. During the three months ended March 31, 2022, there were no

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Mar. 31, 2022
Derivative Financial Instruments
Derivative Financial Instruments	18. Derivative Financial Instruments The Company uses various derivative financial instruments to mitigate interest rate risk. The Bank’s interest rate risk management strategy involves effectively managing the re-pricing characteristics of certain assets and liabilities to mitigate potential adverse impacts from changes in interest rates on the Bank’s net interest margin. 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 various derivative instruments, including U.S. Treasury bond futures and options, Eurodollar futures, credit default swaps and municipal market data, or MMD, rate locks, to hedge changes in the fair value of its securities. Non-Hedging Derivative Instruments and the Fair Value Option As discussed in Note 3 to the consolidated financial statements, the Company has elected to measure substantially all mortgage loans held for sale at fair value under the provisions of the Fair Value Option. The election provides the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without applying 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 7 to the consolidated financial statements. The fair values of the Hilltop Broker-Dealers’ and the Bank’s derivative instruments are recorded in other assets or other liabilities, as appropriate. Changes in the fair value of derivatives are presented in the following table (in thousands). Three Months Ended March 31, 2022 2021 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 22,052 $ 43,839 Hilltop Broker-Dealers (1,327) (22,194) Bank 29 11 Hedging Derivative Instruments The Company has entered into interest rate swap contracts to manage the exposure to changes in fair value associated with certain available for sale fixed rate collateralized mortgage backed securities and fixed rate loans held for investment attributable to changes in the designated benchmark interest rate. Certain of 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. Additionally, the Company has outstanding interest rate swap contracts designated as cash flow hedges and utilized to manage the variability of cash flows associated with its variable rate borrowings. Under each of its interest rate swap contracts designated as hedges, the Company receives a floating rate and pays a fixed rate on the outstanding notional amount. The Company assesses 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 derivative instruments are highly effective in offsetting the variability of the hedged cash flows or fair value, 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 hedges that the derivative instruments will be highly effective hedges throughout the term of the contract, any portion of derivative instruments subsequently determined to be ineffective will be recognized in earnings. Derivative positions are presented in the following table (in thousands). March 31, 2022 December 31, 2021 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 1,823,612 $ 6,846 $ 1,283,152 $ 25,489 Commitments to purchase MBSs 1,056,250 (17,734) 1,575,264 (674) Commitments to sell MBSs 3,617,815 48,817 3,314,173 (355) Interest rate swaps 41,881 3,440 68,413 (1,949) U.S. Treasury bond futures and options (1) 231,300 — 247,800 — Eurodollar and other futures (1) 1,536,200 — 2,061,800 — Credit default swaps 5,000 (45) 7,000 (15) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 285,000 $ 9,704 $ 190,000 $ 603 Interest rate swaps designated as fair value hedges (2) 311,463 18,061 221,232 3,207 (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 $311.5 million and $221.2 million as the hedged amount (from a closed portfolio of prepayable available for sale securities and loans held for investment with a carrying value of $293.4 million and $218.0 million as of March 31, 2022 and December 31, 2021, respectively), of which, a subset of these hedges are in last-of-layer hedging relationships. The cumulative basis adjustment included in the carrying value of the hedged items totaled $18.1 million and $3.2 million as of March 31, 2022 and December 31, 2021, respectively. PrimeLending held no cash collateral advances, in other liabilities within the consolidated balance sheets, to offset net asset derivative positions on its commitments to sell MBSs at March 31, 2022. PrimeLending had advanced cash collateral totaling $56.7 million and $3.7 million to offset net liability positions on its commitments to sell MBSs at March 31, 2022 and December 31, 2021, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers had advanced cash collateral totaling $13.6 million and $4.2 million on various derivative instruments at March 31, 2022 and December 31, 2021, respectively. The advanced cash collateral amounts are included in other assets within the consolidated balance sheets.

Balance Sheet Offsetting

Balance Sheet Offsetting	3 Months Ended
Balance Sheet Offsetting	Mar. 31, 2022
Balance Sheet Offsetting
Balance Sheet Offsetting	19. Balance Sheet Offsetting Certain financial instruments, including resale and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheets and/or subject to master netting arrangements or similar agreements. The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands). Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Assets Cash of Recognized Offset in the Presented in the Financial Collateral Net Assets Balance Sheet Balance Sheet Instruments Pledged Amount March 31, 2022 Securities borrowed: Institutional counterparties $ 1,453,614 $ — $ 1,453,614 $ (1,372,166) $ — $ 81,448 Interest rate swaps: Institutional counterparties 3,440 — 3,440 (3,440) — — Reverse repurchase agreements: Institutional counterparties 256,991 — 256,991 (254,358) — 2,633 Forward MBS derivatives: Institutional counterparties 49,633 (816) 48,817 (7,684) — 41,133 $ 1,763,678 $ (816) $ 1,762,862 $ (1,637,648) $ — $ 125,214 December 31, 2021 Securities borrowed: Institutional counterparties $ 1,518,372 $ — $ 1,518,372 $ (1,445,590) $ — $ 72,782 Reverse repurchase agreements: Institutional counterparties 118,262 — 118,262 (118,262) — — Forward MBS derivatives: Institutional counterparties 2,955 (1,773) 1,182 (744) — 438 $ 1,639,589 $ (1,773) $ 1,637,816 $ (1,564,596) $ — $ 73,220 Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Liabilities Cash of Recognized Offset in the Presented in the Financial Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Pledged Amount March 31, 2022 Securities loaned: Institutional counterparties $ 1,314,279 $ — $ 1,314,279 $ (1,235,834) $ — $ 78,445 Credit default swaps: Institutional counterparties 45 — 45 (45) — — Repurchase agreements: Institutional counterparties 168,398 — 168,398 (180,272) — (11,874) Forward MBS derivatives: Institutional counterparties 17,734 — 17,734 (17,734) — — $ 1,500,456 $ — $ 1,500,456 $ (1,433,885) $ — $ 66,571 December 31, 2021 Securities loaned: Institutional counterparties $ 1,432,196 $ — $ 1,432,196 $ (1,359,850) $ — $ 72,346 Interest rate swaps: Institutional counterparties 1,949 — 1,949 (1,919) — 30 Credit default swaps: Institutional counterparties 15 — 15 (15) — — Repurchase agreements: Institutional counterparties 191,483 — 191,483 (205,734) — (14,251) Forward MBS derivatives: Institutional counterparties 2,211 — 2,211 (2,211) — — $ 1,627,854 $ — $ 1,627,854 $ (1,569,729) $ — $ 58,125 Secured Borrowing Arrangements Secured Borrowings (Repurchase Agreements) — one Securities Lending Activities — When lending securities, the Company receives cash or similar collateral and generally pays interest (based on the amount of cash deposited) to the other party to the transaction. Securities lending transactions are executed pursuant to written agreements with counterparties that generally require securities loaned to be marked-to-market on a daily basis. The Company receives collateral in the form of cash in an amount generally in excess of the fair value of securities loaned. The Company monitors the fair value of securities loaned on a daily basis, with additional collateral obtained or refunded, as necessary. Collateral adjustments are made on a daily basis through the facilities of various clearinghouses. The Company is a principal in these securities lending transactions and is liable for losses in the event of a failure of any other party to honor its contractual obligation. Management sets credit limits with each counterparty and reviews these limits regularly to monitor the risk level with each counterparty. The Company is subject to credit risk through its securities lending activities if securities prices decline rapidly because the value of the Company’s collateral could fall below the amount of the indebtedness it secures. In rapidly appreciating markets, credit risk increases due to short positions. The Company’s securities lending business subjects the Company to credit risk if a counterparty fails to perform or if collateral securing its obligations is insufficient. In securities transactions, the Company is subject to credit risk during the period between the execution of a trade and the settlement by the customer. The following tables present the remaining contractual maturities of repurchase agreement and securities lending transactions accounted for as secured borrowings (in thousands). The Company had no repurchase-to-maturity transactions outstanding at both March 31, 2022 and December 31, 2021. Remaining Contractual Maturities Overnight and Greater Than March 31, 2022 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities 69,353 75,601 19,274 4,170 168,398 Securities lending transactions: Corporate securities 119 — — — 119 Equity securities 1,314,160 — — — 1,314,160 Total $ 1,383,632 $ 75,601 $ 19,274 $ 4,170 $ 1,482,677 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,482,677 Amount related to agreements not included in offsetting disclosure above $ — Remaining Contractual Maturities Overnight and Greater Than December 31, 2021 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities $ 93,651 $ — $ 86,357 $ 11,475 $ 191,483 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,432,083 — — — 1,432,083 Total $ 1,525,847 $ — $ 86,357 $ 11,475 $ 1,623,679 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,623,679 Amount related to agreements not included in offsetting disclosure above $ —

Broker-Dealer and Clearing Orga

Broker-Dealer and Clearing Organization Receivables and Payables	3 Months Ended
	Mar. 31, 2022
Broker-Dealer and Clearing Organization Receivables and Payables
Broker-Dealer and Clearing Organization Receivables and Payables	20. Broker-Dealer and Clearing Organization Receivables and Payables Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). March 31, December 31, 2022 2021 Receivables: Securities borrowed $ 1,453,614 $ 1,518,372 Securities failed to deliver 70,257 5,664 Trades in process of settlement 81,568 144,773 Other 4,913 4,137 $ 1,610,352 $ 1,672,946 Payables: Securities loaned $ 1,314,279 $ 1,432,196 Correspondents 22,576 20,571 Securities failed to receive 55,348 18,808 Other 5,633 5,725 $ 1,397,836 $ 1,477,300

Segment and Related Information

Segment and Related Information	3 Months Ended
Segment and Related Information	Mar. 31, 2022
Segment and Related Information
Segment and Related Information	21. Segment and Related Information The Company has two primary business units, PCC (banking and mortgage origination) and Securities Holdings (broker-dealer). Under GAAP, the Company’s 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. Corporate includes certain activities not allocated to specific business segments. These activities include holding company financing and investing activities, merchant banking investment opportunities and management and administrative services to support the overall operations of the Company. Balance sheet amounts not discussed previously and the elimination of intercompany transactions are included in “All Other and Eliminations.” The following tables present certain information about reportable business segment revenues, operating results, goodwill and assets (in thousands). Mortgage All Other and Hilltop Three Months Ended March 31, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 92,070 $ 11,518 $ (1,835) $ (3,389) $ 1,627 $ 99,991 Provision for (reversal of) credit losses (50) 165 — — — 115 Noninterest income 12,771 60,691 143,195 1,766 (1,995) 216,428 Noninterest expense 58,430 80,647 134,859 12,793 (379) 286,350 Income (loss) before taxes $ 46,461 $ (8,603) $ 6,501 $ (14,416) $ 11 $ 29,954 Mortgage All Other and Hilltop Three Months Ended March 31, 2021 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 103,884 $ 10,514 $ (7,098) $ (4,692) $ 3,074 $ 105,682 Provision for (reversal of) credit losses (5,175) 66 — — — (5,109) Noninterest income 11,324 98,623 310,444 506 (3,312) 417,585 Noninterest expense 55,788 91,404 210,334 9,588 (452) 366,662 Income (loss) before taxes $ 64,595 $ 17,667 $ 93,012 $ (13,774) $ 214 $ 161,714 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Corporate Eliminations Consolidated March 31, 2022 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 14,913,201 $ 3,257,788 $ 2,032,234 $ 2,889,407 $ (4,735,674) $ 18,356,956 December 31, 2021 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 14,944,249 $ 3,673,346 $ 2,207,822 $ 2,940,670 $ (5,077,007) $ 18,689,080

Earnings per Common Share

Earnings per Common Share	3 Months Ended
Earnings per Common Share	Mar. 31, 2022
Earnings per Common Share
Earnings per Common Share	22. Earnings per Common Share The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). Three Months Ended March 31, 2022 2021 Basic earnings per share: Income attributable to Hilltop $ 22,250 $ 120,345 Weighted average shares outstanding - basic 79,114 82,169 Basic earnings per common share: $ 0.28 $ 1.46 Diluted earnings per share: Income attributable to Hilltop $ 22,250 $ 120,345 Weighted average shares outstanding - basic 79,114 82,169 Effect of potentially dilutive securities 242 488 Weighted average shares outstanding - diluted 79,356 82,657 Diluted earnings per common share $ 0.28 $ 1.46

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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. The Company, headquartered in Dallas, Texas, provides its products and services through two primary business units, 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. As a result of the spread of the novel coronavirus (“COVID-19”) pandemic and its additional variants, economic uncertainties have contributed to significant volatility in the global economy, as well as banking and other financial activity in the areas in which the Company operates. The effects of COVID-19 have had, and may continue to have, an adverse effect on the financial markets and overall economic conditions on an unprecedented scale. 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 uncertainty which could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), and in conformity with the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these financial statements contain all adjustments necessary for a fair statement of the results of the interim periods presented. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (“2021 Form 10-K”). Results for interim periods are not necessarily indicative of results to be expected for a full year or any future period. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates regarding the allowance for credit losses, the fair values of financial instruments, the mortgage loan indemnification liability, and the potential impairment of goodwill and identifiable intangible assets are particularly subject to change. 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 owned 100% of the outstanding common securities of PCC Statutory Trusts I, II, III and IV (the “Trusts”), which were 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. Following receipt of regulatory approval, during June, July and August 2021, PCC submitted to the trustees of each of the Trusts notices to redeem in full outstanding junior subordinated debentures of $67.0 million issued by PCC, which resulted in the full redemption to the holders of the associated preferred securities and common securities during the third quarter of 2021. For further details, see Note 16 to the consolidated financial statements included in the Company’s 2021 Form 10-K. 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. (“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 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 % of the membership interest in HTH Diamond Hillcrest Land LLC (“Hillcrest Land LLC”) which is consolidated under the aforementioned VIE Subsections of the ASC. These entities are related to the Hilltop Plaza investment discussed in detail in Note 19 to the consolidated financial statements included in the Company’s 2021 Form 10-K and are collectively referred to as the “Hilltop Plaza Entities.” The consolidated financial statements include the accounts of the above-named entities. Intercompany transactions and balances have been eliminated. Noncontrolling interests have been recorded for minority ownership in entities that are not wholly owned and are presented in compliance with the provisions of Noncontrolling Interest in Subsidiary Subsections of the ASC. Certain reclassifications have been made to the prior period consolidated financial statements to conform with the current period presentation. In preparing these consolidated financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all stockholders and other financial statement users, or filed with the SEC. Significant accounting policies are detailed in Note 1 to the consolidated financial statements included in the Company’s 2021 Form 10-K.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2022
Fair Value Measurements
Schedule of information regarding financial assets and liabilities measured at fair value on a recurring basis	The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). Level 1 Level 2 Level 3 Total March 31, 2022 Inputs Inputs Inputs Fair Value Trading securities $ 6,973 $ 464,790 $ — $ 471,763 Available for sale securities — 1,462,340 — 1,462,340 Equity securities 225 — — 225 Loans held for sale — 1,490,589 45,977 1,536,566 Loans held for investment — — 9,611 9,611 Derivative assets — 108,449 — 108,449 MSR asset — — 100,475 100,475 Securities sold, not yet purchased 54,337 43,292 — 97,629 Derivative liabilities — 39,360 — 39,360 Level 1 Level 2 Level 3 Total December 31, 2021 Inputs Inputs Inputs Fair Value Trading securities $ 8,628 $ 639,370 $ — $ 647,998 Available for sale securities — 2,130,568 — 2,130,568 Equity securities 250 — — 250 Loans held for sale — 1,734,875 47,716 1,782,591 Derivative assets — 48,122 — 48,122 MSR asset — — 86,990 86,990 Securities sold, not yet purchased 45,973 50,613 — 96,586 Derivative liabilities — 21,816 — 21,816
Rollforward for financial instruments measured at fair value using Level 3 inputs	The following tables include a rollforward for those financial instruments measured at fair value using Level 3 inputs (in thousands). Total Gains or Losses (Realized or Unrealized) Balance, Transfers Included in Other Beginning of Purchases/ Sales/ to (from) Included in Comprehensive Balance, Period Additions Reductions Level 3 Net Income Income (Loss) End of Period Three months ended March 31, 2022 Loans held for sale $ 47,716 $ 6,986 $ (12,658) $ 4,744 $ (811) $ — $ 45,977 Loans held for investment — 9,611 — — — — 9,611 MSR asset 86,990 7,301 (1,876) — 8,060 — 100,475 Total $ 134,706 $ 23,898 $ (14,534) $ 4,744 $ 7,249 $ — $ 156,063 Three months ended March 31, 2021 Loans held for sale $ 71,816 $ 12,494 $ (7,239) $ 741 $ (537) $ — $ 77,275 MSR asset 143,742 34,301 (52,783) — 16,865 — 142,125 Total $ 215,558 $ 46,795 $ (60,022) $ 741 $ 16,328 $ — $ 219,400
Schedule of significant unobservable inputs used in the fair value measurements	Range (Weighted-Average) Financial instrument Valuation Technique Unobservable Inputs March 31, 2022 December 31, 2021 Loans Market comparable Projected price 93 - 94 % ( 94 %) 94 - 95 % ( 95 %) MSR asset Discounted cash flows Constant prepayment rate 8.47 % 10.02 % Discount rate 14.36 % 14.32 %
Schedule of changes in fair value for instruments reported at fair value under the Fair Value Option	The following table presents those changes in fair value of instruments recognized in the consolidated statements of operations that are accounted for under the Fair Value Option (in thousands). Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Other Total Other Total Net Noninterest Changes in Net Noninterest Changes in Gains (Losses) Income Fair Value Gains (Losses) Income Fair Value Loans held for sale $ (50,855) $ — $ (50,855) $ (67,956) $ — $ (67,956) Loans held for investments — — — — — — MSR asset 8,060 — 8,060 16,865 — 16,865
Schedule of carrying values and estimated fair values of financial instruments	The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). Estimated Fair Value Carrying Level 1 Level 2 Level 3 March 31, 2022 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 2,887,195 $ 2,887,195 $ — $ — $ 2,887,195 Assets segregated for regulatory purposes 128,408 128,408 — — 128,408 Securities purchased under agreements to resell 256,991 — 256,991 — 256,991 Held to maturity securities 953,107 — 949,034 — 949,034 Loans held for sale 107,428 — 107,428 — 107,428 Loans held for investment, net 7,697,107 — 506,513 7,224,947 7,731,460 Broker-dealer and clearing organization receivables 1,610,352 — 1,610,352 — 1,610,352 Other assets 71,616 — 69,909 1,707 71,616 Financial liabilities: Deposits 12,666,702 — 12,659,980 — 12,659,980 Broker-dealer and clearing organization payables 1,397,836 — 1,397,836 — 1,397,836 Short-term borrowings 835,054 — 835,054 — 835,054 Debt 395,479 — 395,479 — 395,479 Other liabilities 8,688 — 8,688 — 8,688 Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2021 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 2,823,523 $ 2,823,523 $ — $ — $ 2,823,523 Assets segregated for regulatory purposes 221,740 221,740 — — 221,740 Securities purchased under agreements to resell 118,262 — 118,262 — 118,262 Held to maturity securities 267,684 — 276,296 — 276,296 Loans held for sale 95,599 — 95,599 — 95,599 Loans held for investment, net 7,788,552 — 733,193 7,266,732 7,999,925 Broker-dealer and clearing organization receivables 1,672,946 — 1,672,946 — 1,672,946 Other assets 73,041 — 71,290 1,751 73,041 Financial liabilities: Deposits 12,818,077 — 12,821,138 — 12,821,138 Broker-dealer and clearing organization payables 1,477,300 — 1,477,300 — 1,477,300 Short-term borrowings 859,444 — 859,444 — 859,444 Debt 387,904 — 387,904 — 387,904 Other liabilities 3,944 — 3,944 — 3,944
Schedule of adjustments to the carrying value of these investments	The following table presents the adjustments to the carrying value of these investments during the periods presented (in thousands). Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 16,817 $ 22,844 Additional investments 11,000 — Upward adjustments 214 121 Impairments and downward adjustments (45) (60) Balance, end of period $ 27,986 $ 22,905

Securities (Tables)

Securities (Tables)	3 Months Ended
Securities (Tables)	Mar. 31, 2022
Securities
Summary of trading securities	The fair value of trading securities is summarized as follows (in thousands). March 31, December 31, 2022 2021 U.S. Treasury securities $ 2,048 $ 3,728 U.S. government agencies: Bonds 17,504 3,410 Residential mortgage-backed securities 88,066 152,093 Collateralized mortgage obligations 134,670 126,389 Corporate debt securities 79,605 60,671 States and political subdivisions 130,903 285,376 Private-label securitized product 13,724 11,377 Other 5,243 4,954 Totals $ 471,763 $ 647,998
Summary of amortized cost and fair value of available for sale securities	The amortized cost and fair value of available for sale and held to maturity securities are summarized as follows (in thousands). Available for Sale Amortized Unrealized Unrealized March 31, 2022 Cost Gains Losses Fair Value U.S. Treasury securities $ 24,916 $ — $ (446) $ 24,470 U.S. government agencies: Bonds 42,751 515 (397) 42,869 Residential mortgage-backed securities 511,749 1,338 (20,788) 492,299 Commercial mortgage-backed securities 166,003 74 (16,098) 149,979 Collateralized mortgage obligations 739,554 261 (27,231) 712,584 States and political subdivisions 41,641 404 (1,906) 40,139 Totals $ 1,526,614 $ 2,592 $ (66,866) $ 1,462,340 Available for Sale Amortized Unrealized Unrealized December 31, 2021 Cost Gains Losses Fair Value U.S. Treasury securities $ 14,937 $ — $ (75) $ 14,862 U.S. government agencies: Bonds 43,448 838 (153) 44,133 Residential mortgage-backed securities 900,084 7,979 (9,617) 898,446 Commercial mortgage-backed securities 219,460 367 (9,128) 210,699 Collateralized mortgage obligations 926,783 2,547 (12,464) 916,866 States and political subdivisions 43,923 1,839 (200) 45,562 Totals $ 2,148,635 $ 13,570 $ (31,637) $ 2,130,568
Summary of amortized cost and fair value of held to maturity securities	Held to Maturity Amortized Unrealized Unrealized March 31, 2022 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 325,023 $ 9 $ (50) $ 324,982 Commercial mortgage-backed securities 207,145 268 (898) 206,515 Collateralized mortgage obligations 353,954 1 (1,147) 352,808 States and political subdivisions 66,985 307 (2,563) 64,729 Totals $ 953,107 $ 585 $ (4,658) $ 949,034 Held to Maturity Amortized Unrealized Unrealized December 31, 2021 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 9,892 $ 400 $ — $ 10,292 Commercial mortgage-backed securities 145,742 5,311 — 151,053 Collateralized mortgage obligations 43,990 476 — 44,466 States and political subdivisions 68,060 2,428 (3) 70,485 Totals $ 267,684 $ 8,615 $ (3) $ 276,296
Schedule of information regarding available for sale securities that were in an unrealized loss position	Information regarding available for sale and held to maturity securities that were in an unrealized loss position is shown in the following tables (dollars in thousands). March 31, 2022 December 31, 2021 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Available for Sale U.S. treasury securities: Unrealized loss for less than twelve months 3 $ 24,470 $ 446 2 $ 14,862 $ 75 Unrealized loss for twelve months or longer — — — — — — 3 24,470 446 2 14,862 75 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 2 9,664 335 2 9,904 94 Unrealized loss for twelve months or longer 1 6,116 62 1 6,184 59 3 15,780 397 3 16,088 153 Residential mortgage-backed securities: Unrealized loss for less than twelve months 72 454,914 15,871 52 548,392 6,915 Unrealized loss for twelve months or longer 24 195,127 4,917 17 104,378 2,702 96 650,041 20,788 69 652,770 9,617 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 7 87,051 9,222 5 65,636 1,776 Unrealized loss for twelve months or longer 5 50,908 6,876 14 138,619 7,352 12 137,959 16,098 19 204,255 9,128 Collateralized mortgage obligations: Unrealized loss for less than twelve months 106 762,632 25,447 72 618,464 11,316 Unrealized loss for twelve months or longer 13 76,562 1,784 10 62,647 1,148 119 839,194 27,231 82 681,111 12,464 States and political subdivisions: Unrealized loss for less than twelve months 28 15,072 1,304 14 5,576 200 Unrealized loss for twelve months or longer 6 2,124 602 — — — 34 17,196 1,906 14 5,576 200 Total available for sale: Unrealized loss for less than twelve months 218 1,353,803 52,625 147 1,262,834 20,376 Unrealized loss for twelve months or longer 49 330,837 14,241 42 311,828 11,261 267 $ 1,684,640 $ 66,866 189 $ 1,574,662 $ 31,637
Schedule of information regarding held to maturity securities that were in an unrealized loss position	March 31, 2022 December 31, 2021 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Held to Maturity Residential mortgage-backed securities: Unrealized loss for less than twelve months 3 $ 5,318 $ 50 — $ — $ — Unrealized loss for twelve months or longer — — — — — — 3 5,318 50 — — — Commercial mortgage-backed securities: Unrealized loss for less than twelve months 15 88,404 898 — — — Unrealized loss for twelve months or longer — — — — — — 15 88,404 898 — — — Collateralized mortgage obligations: Unrealized loss for less than twelve months 18 38,027 1,147 — — — Unrealized loss for twelve months or longer — — — — — — 18 38,027 1,147 — — — States and political subdivisions: Unrealized loss for less than twelve months 104 38,828 2,524 2 558 1 Unrealized loss for twelve months or longer 1 228 39 1 266 2 105 39,056 2,563 3 824 3 Total held to maturity: Unrealized loss for less than twelve months 140 170,577 4,619 2 558 1 Unrealized loss for twelve months or longer 1 228 39 1 266 2 141 $ 170,805 $ 4,658 3 $ 824 $ 3
Schedule of amortized cost and fair value of securities, excluding trading and equity available for sale securities, by contractual maturity	The amortized cost and fair value of securities, excluding trading and equity securities, at March 31, 2022 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 $ 21,653 $ 21,538 $ 275 $ 275 Due after one year through five years 36,299 35,934 897 898 Due after five years through ten years 17,304 17,539 16,014 15,865 Due after ten years 34,052 32,467 49,799 47,691 109,308 107,478 66,985 64,729 Residential mortgage-backed securities 511,749 492,299 325,023 324,982 Collateralized mortgage obligations 739,554 712,584 353,954 352,808 Commercial mortgage-backed securities 166,003 149,979 207,145 206,515 $ 1,526,614 $ 1,462,340 $ 953,107 $ 949,034

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	3 Months Ended
Loans Held for Investment (Tables)	Mar. 31, 2022
Loans Held for Investment
Summary of loans held for investment by portfolio segment	Loans held for investment summarized by portfolio segment are as follows (in thousands). March 31, December 31, 2022 2021 Commercial real estate $ 3,105,734 $ 3,042,729 Commercial and industrial (1) 1,820,476 1,875,420 Construction and land development 942,929 892,783 1-4 family residential 1,394,334 1,303,430 Consumer 27,917 32,349 Broker-dealer (2) 506,513 733,193 7,797,903 7,879,904 Allowance for credit losses (91,185) (91,352) Total loans held for investment, net of allowance $ 7,706,718 $ 7,788,552 (1) Included loans totaling $37.7 million and $77.7 million at March 31, 2022 and December 31, 2021, respectively, 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 March 31, 2022 December 31, 2021 Interest Income Recognized With With No With With No Three Months Ended March 31, Allowance Allowance Total Allowance Allowance Total 2022 2021 Commercial real estate: Non-owner occupied $ 408 $ 868 $ 1,276 $ 413 $ 1,853 $ 2,266 $ 97 $ 74 Owner occupied 3,036 1,841 4,877 3,058 1,277 4,335 83 90 Commercial and industrial 13,140 5,346 18,486 16,536 5,942 22,478 188 143 Construction and land development 1 — 1 2 — 2 7 15 1-4 family residential 1,072 15,784 16,856 902 17,306 18,208 421 924 Consumer 21 — 21 23 — 23 — — Broker-dealer — — — — — — — — $ 17,678 $ 23,839 $ 41,517 $ 20,934 $ 26,378 $ 47,312 $ 796 $ 1,246
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 Past Current Total Past Due March 31, 2022 30-59 Days 60-89 Days 90 Days or More Due Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ — $ — $ 199 $ 199 $ 1,812,273 $ 1,812,472 $ — Owner occupied 672 113 2,265 3,050 1,290,212 1,293,262 — Commercial and industrial 4,495 67 12,274 16,836 1,803,640 1,820,476 — Construction and land development — — — — 942,929 942,929 — 1-4 family residential 7,355 956 5,269 13,580 1,380,754 1,394,334 100 Consumer 122 97 20 239 27,678 27,917 — Broker-dealer — — — — 506,513 506,513 — $ 12,644 $ 1,233 $ 20,027 $ 33,904 $ 7,763,999 $ 7,797,903 $ 100 Accruing Loans Loans Past Due Loans Past Due Loans Past Due Total Past Current Total Past Due December 31, 2021 30-59 Days 60-89 Days 90 Days or More Due Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 117 $ — $ 1,173 $ 1,290 $ 1,728,409 $ 1,729,699 $ — Owner occupied 590 688 2,273 3,551 1,309,479 1,313,030 — Commercial and industrial 1,059 277 13,640 14,976 1,860,444 1,875,420 1 Construction and land development 946 — — 946 891,837 892,783 — 1-4 family residential 7,642 2,738 4,842 15,222 1,288,208 1,303,430 100 Consumer 123 22 22 167 32,182 32,349 — Broker-dealer — — — — 733,193 733,193 — $ 10,477 $ 3,725 $ 21,950 $ 36,152 $ 7,843,752 $ 7,879,904 $ 101
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 2017 and March 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total Commercial real estate: non-owner occupied Internal Grade 1-3 (Pass low risk) $ 46,615 $ 21,875 $ 15,853 $ 4,698 $ 8,920 $ 11,687 $ — $ 109,648 Internal Grade 4-7 (Pass normal risk) 95,564 315,087 171,618 99,716 48,529 73,652 43,970 848,136 Internal Grade 8-11 (Pass high risk and watch) 61,069 218,841 174,513 111,858 79,166 121,205 1,357 768,009 Internal Grade 12 (Special mention) — — — 3,093 — — — 3,093 Internal Grade 13 (Substandard accrual) 14,671 23,918 4,148 15,352 9,159 15,062 — 82,310 Internal Grade 14 (Substandard non-accrual) — 407 — — — 869 — 1,276 Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 10,579 $ 107,384 $ 58,612 $ 14,701 $ 24,999 $ 66,334 $ 4,902 $ 287,511 Internal Grade 4-7 (Pass normal risk) 40,171 196,366 98,866 95,547 81,919 82,779 17,853 613,501 Internal Grade 8-11 (Pass high risk and watch) 24,342 83,691 101,623 37,621 69,770 36,185 880 354,112 Internal Grade 12 (Special mention) — — — — — — — — Internal Grade 13 (Substandard accrual) — 579 8,939 1,940 6,788 15,015 — 33,261 Internal Grade 14 (Substandard non-accrual) 634 1,535 — (4) 340 2,372 — 4,877 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 11,989 $ 39,228 $ 23,278 $ 26,431 $ 5,590 $ 9,029 $ 105,205 $ 220,750 Internal Grade 4-7 (Pass normal risk) 68,770 125,092 76,928 21,534 18,220 20,850 315,926 647,320 Internal Grade 8-11 (Pass high risk and watch) 28,620 98,569 66,526 24,775 9,771 8,719 273,923 510,903 Internal Grade 12 (Special mention) — — — — — — — — Internal Grade 13 (Substandard accrual) — 2,454 11,835 4,552 5,405 7,210 7,202 38,658 Internal Grade 14 (Substandard non-accrual) 184 3,228 14,239 15 348 472 — 18,486 Construction and land development Internal Grade 1-3 (Pass low risk) $ 6,065 $ 11,647 $ 36,455 $ 3,120 $ 1,550 $ 3,223 $ 1 $ 62,061 Internal Grade 4-7 (Pass normal risk) 78,010 301,661 100,930 14,959 3,033 3,556 37,517 539,666 Internal Grade 8-11 (Pass high risk and watch) 70,820 171,810 30,082 5,002 749 1,690 34,941 315,094 Internal Grade 12 (Special mention) — — — — — — — — Internal Grade 13 (Substandard accrual) — 1,369 — 27 — 5,299 — 6,695 Internal Grade 14 (Substandard non-accrual) — — — — — 1 — 1 Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 179 1,322 — — 1,004 — — 2,505 FICO greater than 720 5,387 9,105 56 — — — — 14,548 Substandard non-accrual — — — — — — — — Other (1) 1,516 843 — — — — — 2,359 1-4 family residential FICO less than 620 $ — $ 548 $ 458 $ 608 $ 3,585 $ 24,556 $ 240 $ 29,995 FICO between 620 and 720 8,914 15,083 9,742 6,563 7,038 30,351 2,746 80,437 FICO greater than 720 85,058 800,097 116,004 49,919 29,163 59,967 3,598 1,143,806 Substandard non-accrual — — (5) 791 271 15,799 — 16,856 Other (1) 17,246 81,074 8,941 5,675 3,468 6,447 389 123,240 Consumer FICO less than 620 $ 150 $ 956 $ 285 $ 352 $ 34 $ 113 $ 360 $ 2,250 FICO between 620 and 720 1,859 2,648 797 679 91 471 1,961 8,506 FICO greater than 720 2,742 2,675 1,799 645 163 14 3,042 11,080 Substandard non-accrual — — — — — 21 — 21 Other (1) 1,960 2,926 568 293 27 28 258 6,060 Total loans with credit quality measures $ 683,114 $ 2,642,018 $ 1,133,090 $ 550,462 $ 419,100 $ 622,976 $ 856,271 $ 6,907,031 Commercial and industrial (mortgage warehouse lending) $ 337,097 Commercial and industrial (Paycheck Protection Program loans) $ 37,651 Commercial and industrial (loans accounted for at fair value) $ 9,611 Broker-Dealer (margin loans and correspondent receivables) $ 506,513 Total loans held for investment $ 7,797,903 (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)	3 Months Ended
Allowance for Credit Losses (Tables)	Mar. 31, 2022
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 investment, distributed by portfolio segment, are shown below (in thousands). Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended March 31, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 59,354 $ 975 $ — $ 32 $ 60,361 Commercial and industrial 21,982 (1,550) (1,209) 907 20,130 Construction and land development 4,674 841 — — 5,515 1-4 family residential 4,589 (247) (15) 13 4,340 Consumer 578 (69) (113) 103 499 Broker-dealer 175 165 — — 340 Total $ 91,352 $ 115 $ (1,337) $ 1,055 $ 91,185 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended March 31, 2021 Period Credit Losses Charged Off Loans Period Commercial real estate $ 109,629 $ (5,517) $ — $ 14 $ 104,126 Commercial and industrial 27,703 556 (179) 433 28,513 Construction and land development 6,677 572 — — 7,249 1-4 family residential 3,946 (857) (110) 409 3,388 Consumer 876 71 (79) 76 944 Broker-dealer 213 66 — — 279 Total $ 149,044 $ (5,109) $ (368) $ 932 $ 144,499
Schedule of changes in the allowance for credit losses for loans with off-balance sheet credit exposures	Changes in the allowance for credit losses for loans with off-balance sheet credit exposures are shown below (in thousands). Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 5,880 $ 8,388 Other noninterest expense 607 419 Balance, end of period $ 6,487 $ 8,807

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
Mortgage Servicing Rights (Tables)	Mar. 31, 2022
Mortgage Servicing Rights
Schedule of change in fair value of the Company's MSR asset	The following tables present the changes in fair value of the Company’s MSR asset and other information related to the serviced portfolio (dollars in thousands). Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 86,990 $ 143,742 Additions 7,301 34,301 Sales (1,876) (52,783) Changes in fair value: Due to changes in model inputs or assumptions (1) 10,856 24,137 Due to customer payoffs (2,796) (7,272) Balance, end of period $ 100,475 $ 142,125 March 31, December 31, 2022 2021 Mortgage loans serviced for others (2) $ 6,432,236 $ 6,355,927 MSR asset as a percentage of serviced mortgage loans 1.56 % 1.37 % (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. Included in the three months ended March 31, 2021 are MSR asset fair value adjustments totaling $9.7 million, which reflect the difference between the MSR carrying value and the sales price reflected in the letter of intent to sell the applicable MSR assets. (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	March 31, December 31, 2022 2021 Weighted average constant prepayment rate 8.47 % 10.02 % Weighted average discount rate 14.36 % 14.32 % Weighted average life (in years) 7.8 7.1
Schedule of sensitivity analysis of fair value of the Company's MSR to certain key assumptions	A sensitivity analysis of the fair value of the Company’s MSR asset to certain key assumptions is presented in the following table (in thousands). March 31, December 31, 2022 2021 Constant prepayment rate: Impact of 10% adverse change $ (1,047) $ (2,603) Impact of 20% adverse change (2,289) (5,315) Discount rate: Impact of 10% adverse change (5,025) (4,070) Impact of 20% adverse change (9,556) (7,753)

Deposits (Tables)

Deposits (Tables)	3 Months Ended
Deposits (Tables)	Mar. 31, 2022
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). March 31, December 31, 2022 2021 Noninterest-bearing demand $ 4,694,592 $ 4,577,183 Interest-bearing: Demand accounts 3,198,506 3,270,522 Brokered - demand 101,058 114,393 Money market 3,277,619 3,433,341 Brokered - money market 103,998 98,614 Savings 356,036 345,795 Time 919,416 962,752 Brokered - time 15,477 15,477 $ 12,666,702 $ 12,818,077

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	3 Months Ended
Short-term Borrowings (Tables)	Mar. 31, 2022
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). March 31, December 31, 2022 2021 Federal funds purchased $ 286,550 $ 171,925 Securities sold under agreements to repurchase 168,445 191,547 Federal Home Loan Bank — — Short-term bank loans 25,500 142,000 Commercial paper 354,559 353,972 $ 835,054 $ 859,444
Federal Funds Purchased and Securities Sold under Agreements to Repurchase
Short-term borrowings
Schedule of short-term borrowings	Information concerning federal funds purchased and securities sold under agreements to repurchase is shown in the following tables (dollars in thousands). Three Months Ended March 31, 2022 2021 Average balance during the period $ 429,000 $ 367,313 Average interest rate during the period 0.34 % 0.36 % March 31, December 31, 2022 2021 Average interest rate at end of period 0.38 % 0.31 % Securities underlying the agreements at end of period: Carrying value $ 268,423 $ 191,483 Estimated fair value $ 281,993 $ 205,734

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
Notes Payable (Tables)	Mar. 31, 2022
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). March 31, December 31, 2022 2021 Senior Notes due April 2025, net of discount of $840 and $886, respectively $ 149,160 $ 149,114 Subordinated Notes due May 2030, net of discount of $681 and $704, respectively 49,319 49,296 Subordinated Notes due May 2035, net of discount of $2,175 and $2,220, respectively 147,825 147,780 Ventures Management lines of credit 49,175 41,714 $ 395,479 $ 387,904

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2022
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). March 31, December 31, 2022 2021 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (5,505) (5,358) Premises and equipment, net $ 2,275 $ 2,422
Schedule of components of lease costs	Three Months Ended March 31, 2022 2021 Operating lease cost $ 9,606 $ 9,718 Less operating lease and sublease income (569) (339) Net operating lease cost $ 9,037 $ 9,379 Finance lease cost: Amortization of ROU assets $ 147 $ 147 Interest on lease liabilities 124 134 Total finance lease cost $ 271 $ 281
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands). Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,767 $ 9,240 Operating cash flows from finance leases 125 134 Financing cash flows from finance leases 184 167 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 1,276 $ 6,334 Finance leases — —
Schedule of lease terms and discount rates	Information regarding the lease terms and discount rates of the Company’s leases is as follows. March 31, 2022 December 31, 2021 Weighted Average Weighted Average Remaining Lease Weighted Average Remaining Lease Weighted Average Lease Classification Term (Years) Discount Rate Term (Years) Discount Rate Operating 5.8 3.83 % 5.9 3.89 % Finance 4.6 4.85 % 4.8 4.84 %
Schedule of future minimum lease payments under operating leases	Future minimum lease payments under lease agreements as of March 31, 2022, are presented below (in thousands). Operating Leases Finance Leases 2022 $ 17,946 $ 932 2023 31,250 1,280 2024 22,980 1,163 2025 16,648 886 2026 13,487 813 Thereafter 38,805 598 Total minimum lease payments 141,116 5,672 Less amount representing interest (15,197) (1,687) Lease liabilities $ 125,919 $ 3,985
Schedule of future minimum lease payments under finance leases	Operating Leases Finance Leases 2022 $ 17,946 $ 932 2023 31,250 1,280 2024 22,980 1,163 2025 16,648 886 2026 13,487 813 Thereafter 38,805 598 Total minimum lease payments 141,116 5,672 Less amount representing interest (15,197) (1,687) Lease liabilities $ 125,919 $ 3,985

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2022
Commitments and Contingencies
Schedule of rollforward of claims activity for loans put-back to the mortgage origination segment	The following tables provide for a rollforward of claims activity for loans put-back to the mortgage origination segment based upon an alleged breach of a representation or warranty with respect to a loan sold and related indemnification liability reserve activity (in thousands). Representation and Warranty Specific Claims Activity - Origination Loan Balance Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 31,407 $ 30,085 Claims made 9,842 5,112 Claims resolved with no payment (4,521) (2,914) Repurchases (6,457) (1,811) Indemnification payments — (335) Balance, end of period $ 30,271 $ 30,137 Indemnification Liability Reserve Activity Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 27,424 $ 21,531 Additions for new sales 753 3,007 Repurchases (565) (124) Early payment defaults (71) (12) Indemnification payments — (141) Change in reserves for loans sold in prior years (291) — Balance, end of period $ 27,250 $ 24,261 March 31, December 31, 2022 2021 Reserve for Indemnification Liability: Specific claims $ 550 $ 345 Incurred but not reported claims 26,700 27,079 Total $ 27,250 $ 27,424

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2022
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested restricted stock unit (“RSU”) activity for the three months ended March 31, 2022 (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2021 1,869 $ 23.16 Granted 527 $ 33.49 Vested/Released (598) $ 19.12 Forfeited (1) $ 26.51 Balance, March 31, 2022 1,797 $ 27.53

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
Regulatory Matters (Tables)	Mar. 31, 2022
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 table shows PlainsCapital’s and Hilltop’s actual capital amounts and ratios in accordance with Basel III compared to the regulatory minimum capital requirements including conservation buffer ratio in effect at the end of the period (dollars in thousands). Based on actual capital amounts and ratios shown in the following table, PlainsCapital’s ratios place it in the “well capitalized” (as defined) capital category under regulatory requirements. Actual capital amounts and ratios as of March 31, 2022 reflect PlainsCapital’s and Hilltop’s decision to elect the transition option as issued by the federal banking regulatory agencies in March 2020 that permits banking institutions to mitigate the estimated cumulative regulatory capital effects from CECL over a five-year transitionary period. Minimum Capital Requirements Including Conservation To Be Well March 31, 2022 December 31, 2021 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,445,107 9.74 % $ 1,469,695 10.20 % 4.0 % 5.0 % Hilltop 2,274,879 12.46 % 2,262,356 12.58 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,445,107 15.37 % 1,469,695 16.00 % 7.0 % 6.5 % Hilltop 2,274,879 21.27 % 2,262,356 21.22 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,445,107 15.37 % 1,469,695 16.00 % 8.5 % 8.0 % Hilltop 2,274,879 21.27 % 2,262,356 21.22 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,521,598 16.18 % 1,540,100 16.77 % 10.5 % 10.0 % Hilltop 2,550,742 23.85 % 2,532,008 23.75 % 10.5 % N/A
Schedule of net capital position	At March 31, 2022, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). Momentum Hilltop Independent Securities Network Net capital $ 203,920 $ 4,370 Less: required net capital 10,335 250 Excess net capital $ 193,585 $ 4,120 Net capital as a percentage of aggregate debit items 39.5 % Net capital in excess of 5% aggregate debit items $ 178,083

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Mar. 31, 2022
Derivative Financial Instruments
Schedule of changes in fair value of derivatives	Changes in the fair value of derivatives are presented in the following table (in thousands). Three Months Ended March 31, 2022 2021 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 22,052 $ 43,839 Hilltop Broker-Dealers (1,327) (22,194) Bank 29 11
Schedule of derivative positions	Derivative positions are presented in the following table (in thousands). March 31, 2022 December 31, 2021 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 1,823,612 $ 6,846 $ 1,283,152 $ 25,489 Commitments to purchase MBSs 1,056,250 (17,734) 1,575,264 (674) Commitments to sell MBSs 3,617,815 48,817 3,314,173 (355) Interest rate swaps 41,881 3,440 68,413 (1,949) U.S. Treasury bond futures and options (1) 231,300 — 247,800 — Eurodollar and other futures (1) 1,536,200 — 2,061,800 — Credit default swaps 5,000 (45) 7,000 (15) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 285,000 $ 9,704 $ 190,000 $ 603 Interest rate swaps designated as fair value hedges (2) 311,463 18,061 221,232 3,207 (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 $311.5 million and $221.2 million as the hedged amount (from a closed portfolio of prepayable available for sale securities and loans held for investment with a carrying value of $293.4 million and $218.0 million as of March 31, 2022 and December 31, 2021, respectively), of which, a subset of these hedges are in last-of-layer hedging relationships. The cumulative basis adjustment included in the carrying value of the hedged items totaled $18.1 million and $3.2 million as of March 31, 2022 and December 31, 2021, respectively.

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	3 Months Ended
Balance Sheet Offsetting (Tables)	Mar. 31, 2022
Balance Sheet Offsetting
Schedule of the assets subject to an enforceable master netting arrangement or repurchase agreements	The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands). Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Assets Cash of Recognized Offset in the Presented in the Financial Collateral Net Assets Balance Sheet Balance Sheet Instruments Pledged Amount March 31, 2022 Securities borrowed: Institutional counterparties $ 1,453,614 $ — $ 1,453,614 $ (1,372,166) $ — $ 81,448 Interest rate swaps: Institutional counterparties 3,440 — 3,440 (3,440) — — Reverse repurchase agreements: Institutional counterparties 256,991 — 256,991 (254,358) — 2,633 Forward MBS derivatives: Institutional counterparties 49,633 (816) 48,817 (7,684) — 41,133 $ 1,763,678 $ (816) $ 1,762,862 $ (1,637,648) $ — $ 125,214 December 31, 2021 Securities borrowed: Institutional counterparties $ 1,518,372 $ — $ 1,518,372 $ (1,445,590) $ — $ 72,782 Reverse repurchase agreements: Institutional counterparties 118,262 — 118,262 (118,262) — — Forward MBS derivatives: Institutional counterparties 2,955 (1,773) 1,182 (744) — 438 $ 1,639,589 $ (1,773) $ 1,637,816 $ (1,564,596) $ — $ 73,220
Schedule of the liabilities subject to an enforceable master netting arrangement or repurchase agreements	Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Liabilities Cash of Recognized Offset in the Presented in the Financial Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Pledged Amount March 31, 2022 Securities loaned: Institutional counterparties $ 1,314,279 $ — $ 1,314,279 $ (1,235,834) $ — $ 78,445 Credit default swaps: Institutional counterparties 45 — 45 (45) — — Repurchase agreements: Institutional counterparties 168,398 — 168,398 (180,272) — (11,874) Forward MBS derivatives: Institutional counterparties 17,734 — 17,734 (17,734) — — $ 1,500,456 $ — $ 1,500,456 $ (1,433,885) $ — $ 66,571 December 31, 2021 Securities loaned: Institutional counterparties $ 1,432,196 $ — $ 1,432,196 $ (1,359,850) $ — $ 72,346 Interest rate swaps: Institutional counterparties 1,949 — 1,949 (1,919) — 30 Credit default swaps: Institutional counterparties 15 — 15 (15) — — Repurchase agreements: Institutional counterparties 191,483 — 191,483 (205,734) — (14,251) Forward MBS derivatives: Institutional counterparties 2,211 — 2,211 (2,211) — — $ 1,627,854 $ — $ 1,627,854 $ (1,569,729) $ — $ 58,125
Schedule of contractual maturities of repurchase agreements and secured borrowing transactions	The following tables present the remaining contractual maturities of repurchase agreement and securities lending transactions accounted for as secured borrowings (in thousands). The Company had no repurchase-to-maturity transactions outstanding at both March 31, 2022 and December 31, 2021. Remaining Contractual Maturities Overnight and Greater Than March 31, 2022 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities 69,353 75,601 19,274 4,170 168,398 Securities lending transactions: Corporate securities 119 — — — 119 Equity securities 1,314,160 — — — 1,314,160 Total $ 1,383,632 $ 75,601 $ 19,274 $ 4,170 $ 1,482,677 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,482,677 Amount related to agreements not included in offsetting disclosure above $ — Remaining Contractual Maturities Overnight and Greater Than December 31, 2021 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities $ 93,651 $ — $ 86,357 $ 11,475 $ 191,483 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,432,083 — — — 1,432,083 Total $ 1,525,847 $ — $ 86,357 $ 11,475 $ 1,623,679 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,623,679 Amount related to agreements not included in offsetting disclosure above $ —

Broker-Dealer and Clearing Or_2

Broker-Dealer and Clearing Organization Receivables and Payables (Tables)	3 Months Ended
	Mar. 31, 2022
Broker-Dealer and Clearing Organization Receivables and Payables
Schedule of broker-dealer and clearing organization receivables and payables	Broker-dealer and clearing organization receivables and payables consisted of the following (in thousands). March 31, December 31, 2022 2021 Receivables: Securities borrowed $ 1,453,614 $ 1,518,372 Securities failed to deliver 70,257 5,664 Trades in process of settlement 81,568 144,773 Other 4,913 4,137 $ 1,610,352 $ 1,672,946 Payables: Securities loaned $ 1,314,279 $ 1,432,196 Correspondents 22,576 20,571 Securities failed to receive 55,348 18,808 Other 5,633 5,725 $ 1,397,836 $ 1,477,300

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
Segment and Related Information (Tables)	Mar. 31, 2022
Segment and Related Information
Schedule of information about the segment revenues, operating results, goodwill, and assets of entity's reportable segments	The following tables present certain information about reportable business segment revenues, operating results, goodwill and assets (in thousands). Mortgage All Other and Hilltop Three Months Ended March 31, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 92,070 $ 11,518 $ (1,835) $ (3,389) $ 1,627 $ 99,991 Provision for (reversal of) credit losses (50) 165 — — — 115 Noninterest income 12,771 60,691 143,195 1,766 (1,995) 216,428 Noninterest expense 58,430 80,647 134,859 12,793 (379) 286,350 Income (loss) before taxes $ 46,461 $ (8,603) $ 6,501 $ (14,416) $ 11 $ 29,954 Mortgage All Other and Hilltop Three Months Ended March 31, 2021 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 103,884 $ 10,514 $ (7,098) $ (4,692) $ 3,074 $ 105,682 Provision for (reversal of) credit losses (5,175) 66 — — — (5,109) Noninterest income 11,324 98,623 310,444 506 (3,312) 417,585 Noninterest expense 55,788 91,404 210,334 9,588 (452) 366,662 Income (loss) before taxes $ 64,595 $ 17,667 $ 93,012 $ (13,774) $ 214 $ 161,714 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Corporate Eliminations Consolidated March 31, 2022 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 14,913,201 $ 3,257,788 $ 2,032,234 $ 2,889,407 $ (4,735,674) $ 18,356,956 December 31, 2021 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 14,944,249 $ 3,673,346 $ 2,207,822 $ 2,940,670 $ (5,077,007) $ 18,689,080

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
Earnings per Common Share (Tables)	Mar. 31, 2022
Earnings per Common Share
Schedule of the computation of basic and diluted earnings per common share	The following table presents the computation of basic and diluted earnings per common share (in thousands, except per share data). Three Months Ended March 31, 2022 2021 Basic earnings per share: Income attributable to Hilltop $ 22,250 $ 120,345 Weighted average shares outstanding - basic 79,114 82,169 Basic earnings per common share: $ 0.28 $ 1.46 Diluted earnings per share: Income attributable to Hilltop $ 22,250 $ 120,345 Weighted average shares outstanding - basic 79,114 82,169 Effect of potentially dilutive securities 242 488 Weighted average shares outstanding - diluted 79,356 82,657 Diluted earnings per common share $ 0.28 $ 1.46

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Basis of Presentation, Ownership (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)item	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)
Basis of Presentation
Number of primary business units \| item	2
Redemption of junior subordinated debentures	$ 192,955		$ 219,401
PCC
Basis of Presentation
Ownership percentage	100.00%
Securities Holdings
Basis of Presentation
Ownership percentage	100.00%
HTH Hillcrest Project LLC
Basis of Presentation
Membership ownership percentage	100.00%
Hilltop Investments I, LLC
Basis of Presentation
Membership ownership percentage	100.00%
PCC \| Plains Capital Bank
Basis of Presentation
Ownership percentage	100.00%
PCC \| Hilltop Opportunity Partners LLC
Basis of Presentation
Membership ownership percentage	100.00%
PCC \| PCC Statutory Trusts
Basis of Presentation
Ownership percentage	100.00%
Redemption of junior subordinated debentures		$ 67,000
Plains Capital Bank \| Prime Lending
Basis of Presentation
Ownership percentage	100.00%
Prime Lending \| Prime Lending Ventures Management LLC
Basis of Presentation
Membership ownership percentage	100.00%
Hilltop Investments I, LLC \| Hillcrest Land LLC
Basis of Presentation
Membership ownership percentage	50.00%

Fair Value Measurements - FV Op

Fair Value Measurements - FV Option (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value Measurements
Mortgage loans held for sale, fair value	$ 1,540	$ 1,780
Mortgage loans held for sale, unpaid principal balance	$ 1,530	$ 1,730

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Trading securities	$ 471,763	$ 647,998
Available for sale securities	1,462,340	2,130,568
Equity securities	225	250
MSR asset	100,475	86,990
Financial liabilities:
Securities sold, not yet purchased	97,629	96,586
Recurring
Financial assets:
Trading securities	471,763	647,998
Available for sale securities	1,462,340	2,130,568
Equity securities	225	250
Loans held for sale	1,536,566	1,782,591
Loans held for investment	9,611
Derivative assets	108,449	48,122
MSR asset	100,475	86,990
Financial liabilities:
Securities sold, not yet purchased	97,629	96,586
Derivative liabilities	39,360	21,816
Recurring \| Level 1
Financial assets:
Trading securities	6,973	8,628
Equity securities	225	250
Financial liabilities:
Securities sold, not yet purchased	54,337	45,973
Recurring \| Level 2
Financial assets:
Trading securities	464,790	639,370
Available for sale securities	1,462,340	2,130,568
Loans held for sale	1,490,589	1,734,875
Derivative assets	108,449	48,122
Financial liabilities:
Securities sold, not yet purchased	43,292	50,613
Derivative liabilities	39,360	21,816
Recurring \| Level 3
Financial assets:
Loans held for sale	45,977	47,716
Loans held for investment	9,611
MSR asset	$ 100,475	$ 86,990

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	$ 134,706	$ 215,558
Purchases/Additions	23,898	46,795
Sales/Reductions	(14,534)	(60,022)
Transfers to (from) Level 3	4,744	741
Total gains or losses (realized or unrealized):
Included in Net Income	7,249	16,328
Asset balance, end of period	156,063	219,400
Loans Held for Sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	47,716	71,816
Purchases/Additions	6,986	12,494
Sales/Reductions	(12,658)	(7,239)
Transfers to (from) Level 3	4,744	741
Total gains or losses (realized or unrealized):
Included in Net Income	(811)	(537)
Asset balance, end of period	45,977	77,275
MSR asset
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, beginning of period	86,990	143,742
Purchases/Additions	7,301	34,301
Sales/Reductions	(1,876)	(52,783)
Total gains or losses (realized or unrealized):
Included in Net Income	8,060	16,865
Asset balance, end of period	100,475	$ 142,125
Loans Held For Investment
Rollforward for financial instruments measured at fair value using Level 3 inputs
Purchases/Additions	9,611
Total gains or losses (realized or unrealized):
Asset balance, end of period	$ 9,611

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Mar. 31, 2022item	Dec. 31, 2021item
Loans Held for Sale
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Valuation Technique [Extensible List]	hth:MarketComparisonValuationTechniqueMember	hth:MarketComparisonValuationTechniqueMember
Loans Held-for-sale, Measurement Input [Extensible List]	Projected Price	Projected Price
Loans Held for Sale \| Projected Price \| 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 \| Projected Price \| Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.93	0.94
Loans Held for Sale \| Projected Price \| Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.94	0.95
MSR asset \| Constant Prepayment Rate
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
MSR asset \| Constant Prepayment Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.0847	0.1002
MSR asset \| Discount Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1436	0.1432

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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)	110,894	267,080
Other Noninterest Income	6,621	41,341
Loans Held for Sale
Fair Value Option
Net Gains (Losses)	(50,855)	(67,956)
Total Changes in Fair Value	(50,855)	(67,956)
MSR asset
Fair Value Option
Net Gains (Losses)	8,060	16,865
Total Changes in Fair Value	$ 8,060	$ 16,865

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Held to maturity securities	$ 949,034	$ 276,296
Loans held for investment, net	7,706,718	7,788,552
Broker-dealer and clearing organization receivables	1,610,352	1,672,946
Financial liabilities:
Broker-dealer and clearing organization payables	1,397,836	1,477,300
Carrying Amount
Financial assets:
Cash and cash equivalents	2,887,195	2,823,523
Assets segregated for regulatory purposes	128,408	221,740
Securities purchased under agreements to resell	256,991	118,262
Held to maturity securities	953,107	267,684
Loans held for sale	107,428	95,599
Loans held for investment, net	7,697,107	7,788,552
Broker-dealer and clearing organization receivables	1,610,352	1,672,946
Other assets	71,616	73,041
Financial liabilities:
Deposits	12,666,702	12,818,077
Broker-dealer and clearing organization payables	1,397,836	1,477,300
Short-term borrowings	835,054	859,444
Debt	395,479	387,904
Other liabilities	8,688	3,944
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	2,887,195	2,823,523
Assets segregated for regulatory purposes	128,408	221,740
Securities purchased under agreements to resell	256,991	118,262
Held to maturity securities	949,034	276,296
Loans held for sale	107,428	95,599
Loans held for investment, net	7,731,460	7,999,925
Broker-dealer and clearing organization receivables	1,610,352	1,672,946
Other assets	71,616	73,041
Financial liabilities:
Deposits	12,659,980	12,821,138
Broker-dealer and clearing organization payables	1,397,836	1,477,300
Short-term borrowings	835,054	859,444
Debt	395,479	387,904
Other liabilities	8,688	3,944
Estimate of Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	2,887,195	2,823,523
Assets segregated for regulatory purposes	128,408	221,740
Estimate of Fair Value \| Level 2
Financial assets:
Securities purchased under agreements to resell	256,991	118,262
Held to maturity securities	949,034	276,296
Loans held for sale	107,428	95,599
Loans held for investment, net	506,513	733,193
Broker-dealer and clearing organization receivables	1,610,352	1,672,946
Other assets	69,909	71,290
Financial liabilities:
Deposits	12,659,980	12,821,138
Broker-dealer and clearing organization payables	1,397,836	1,477,300
Short-term borrowings	835,054	859,444
Debt	395,479	387,904
Other liabilities	8,688	3,944
Estimate of Fair Value \| Level 3
Financial assets:
Loans held for investment, net	7,224,947	7,266,732
Other assets	$ 1,707	$ 1,751

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Adjustments to the carrying value of these investments
Balance, beginning of period	$ 16,817	$ 22,844
Additional investments	11,000
Upward adjustments	214	121
Impairments and downward adjustments	(45)	(60)
Balance, end of period	27,986	$ 22,905
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 64,300		$ 54,000

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of fair value of trading securities
Debt Securities, Trading	$ 471,763	$ 647,998
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	97,629	96,586
US Treasury Securities
Schedule of fair value of trading securities
Debt Securities, Trading	2,048	3,728
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	17,504	3,410
Residential Mortgage Backed Securities
Schedule of fair value of trading securities
Debt Securities, Trading	88,066	152,093
Collateralized Mortgage Obligations
Schedule of fair value of trading securities
Debt Securities, Trading	134,670	126,389
Corporate Debt Securities
Schedule of fair value of trading securities
Debt Securities, Trading	79,605	60,671
US States and Political Subdivisions Debt Securities
Schedule of fair value of trading securities
Debt Securities, Trading	130,903	285,376
Private-label securitized product
Schedule of fair value of trading securities
Debt Securities, Trading	13,724	11,377
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 5,243	$ 4,954

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Available for sale
Amortized cost	$ 1,526,614	$ 2,148,635
Unrealized Gains	2,592	13,570
Unrealized Losses	(66,866)	(31,637)
Fair Value	1,462,340	2,130,568
Held to maturity
Amortized cost	953,107	267,684
Unrealized Gains	585	8,615
Unrealized Losses	(4,658)	(3)
Held to maturity, fair value	949,034	276,296
Equity Securities
Unrealized net gains from equity securities	200	200
Equity, at fair value	225	250
Book value of held to maturity	708,701
Pre-tax net unrecognized losses	73,722
US Treasury Securities
Available for sale
Amortized cost	24,916	14,937
Unrealized Losses	(446)	(75)
Fair Value	24,470	14,862
Bonds
Available for sale
Amortized cost	42,751	43,448
Unrealized Gains	515	838
Unrealized Losses	(397)	(153)
Fair Value	42,869	44,133
Residential Mortgage Backed Securities
Available for sale
Amortized cost	511,749	900,084
Unrealized Gains	1,338	7,979
Unrealized Losses	(20,788)	(9,617)
Fair Value	492,299	898,446
Held to maturity
Amortized cost	325,023	9,892
Unrealized Gains	9	400
Unrealized Losses	(50)
Held to maturity, fair value	324,982	10,292
Commercial Mortgage Backed Securities
Available for sale
Amortized cost	166,003	219,460
Unrealized Gains	74	367
Unrealized Losses	(16,098)	(9,128)
Fair Value	149,979	210,699
Held to maturity
Amortized cost	207,145	145,742
Unrealized Gains	268	5,311
Unrealized Losses	(898)
Held to maturity, fair value	206,515	151,053
Collateralized Mortgage Obligations
Available for sale
Amortized cost	739,554	926,783
Unrealized Gains	261	2,547
Unrealized Losses	(27,231)	(12,464)
Fair Value	712,584	916,866
Held to maturity
Amortized cost	353,954	43,990
Unrealized Gains	1	476
Unrealized Losses	(1,147)
Held to maturity, fair value	352,808	44,466
US States and Political Subdivisions Debt Securities
Available for sale
Amortized cost	41,641	43,923
Unrealized Gains	404	1,839
Unrealized Losses	(1,906)	(200)
Fair Value	40,139	45,562
Held to maturity
Amortized cost	66,985	68,060
Unrealized Gains	307	2,428
Unrealized Losses	(2,563)	(3)
Held to maturity, fair value	64,729	$ 70,485
Agency Issued Securities
Equity Securities
Book value of held to maturity	782,000
Market value of held to maturity	708,000
Pre-tax net unrecognized losses	$ 74,000

Securities - AFS in an Unrealiz

Securities - AFS in an Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2022USD ($)item	Dec. 31, 2021USD ($)item
Number of Securities
Unrealized loss for less than twelve months \| item	218	147
Unrealized loss for twelve months or longer \| item	49	42
Total \| item	267	189
Fair Value
Unrealized loss for less than twelve months	$ 1,353,803	$ 1,262,834
Unrealized loss for twelve months or longer	330,837	311,828
Total	1,684,640	1,574,662
Unrealized Loss
Unrealized loss for less than twelve months	52,625	20,376
Unrealized loss for twelve months or longer	14,241	11,261
Total	$ 66,866	$ 31,637
US Treasury Securities
Number of Securities
Unrealized loss for less than twelve months \| item	3	2
Total \| item	3	2
Fair Value
Unrealized loss for less than twelve months	$ 24,470	$ 14,862
Total	24,470	14,862
Unrealized Loss
Unrealized loss for less than twelve months	446	75
Total	$ 446	$ 75
Bonds
Number of Securities
Unrealized loss for less than twelve months \| item	2	2
Unrealized loss for twelve months or longer \| item	1	1
Total \| item	3	3
Fair Value
Unrealized loss for less than twelve months	$ 9,664	$ 9,904
Unrealized loss for twelve months or longer	6,116	6,184
Total	15,780	16,088
Unrealized Loss
Unrealized loss for less than twelve months	335	94
Unrealized loss for twelve months or longer	62	59
Total	$ 397	$ 153
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	72	52
Unrealized loss for twelve months or longer \| item	24	17
Total \| item	96	69
Fair Value
Unrealized loss for less than twelve months	$ 454,914	$ 548,392
Unrealized loss for twelve months or longer	195,127	104,378
Total	650,041	652,770
Unrealized Loss
Unrealized loss for less than twelve months	15,871	6,915
Unrealized loss for twelve months or longer	4,917	2,702
Total	$ 20,788	$ 9,617
Commercial Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	7	5
Unrealized loss for twelve months or longer \| item	5	14
Total \| item	12	19
Fair Value
Unrealized loss for less than twelve months	$ 87,051	$ 65,636
Unrealized loss for twelve months or longer	50,908	138,619
Total	137,959	204,255
Unrealized Loss
Unrealized loss for less than twelve months	9,222	1,776
Unrealized loss for twelve months or longer	6,876	7,352
Total	$ 16,098	$ 9,128
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months \| item	106	72
Unrealized loss for twelve months or longer \| item	13	10
Total \| item	119	82
Fair Value
Unrealized loss for less than twelve months	$ 762,632	$ 618,464
Unrealized loss for twelve months or longer	76,562	62,647
Total	839,194	681,111
Unrealized Loss
Unrealized loss for less than twelve months	25,447	11,316
Unrealized loss for twelve months or longer	1,784	1,148
Total	$ 27,231	$ 12,464
US States and Political Subdivisions Debt Securities
Number of Securities
Unrealized loss for less than twelve months \| item	28	14
Unrealized loss for twelve months or longer \| item	6
Total \| item	34	14
Fair Value
Unrealized loss for less than twelve months	$ 15,072	$ 5,576
Unrealized loss for twelve months or longer	2,124
Total	17,196	5,576
Unrealized Loss
Unrealized loss for less than twelve months	1,304	200
Unrealized loss for twelve months or longer	602
Total	$ 1,906	$ 200

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2022USD ($)item	Dec. 31, 2021USD ($)item
Number of Securities
Unrealized loss for less than twelve months \| item	140	2
Unrealized loss for twelve months or longer \| item	1	1
Total \| item	141	3
Fair Value
Unrealized loss for less than twelve months	$ 170,577	$ 558
Unrealized loss for twelve months or longer	228	266
Total	170,805	824
Unrealized Losses
Unrealized loss for less than twelve months	4,619	1
Unrealized loss for twelve months or longer	39	2
Total	$ 4,658	$ 3
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	3
Total \| item	3
Fair Value
Unrealized loss for less than twelve months	$ 5,318
Total	5,318
Unrealized Losses
Unrealized loss for less than twelve months	50
Total	$ 50
Commercial Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	15
Total \| item	15
Fair Value
Unrealized loss for less than twelve months	$ 88,404
Total	88,404
Unrealized Losses
Unrealized loss for less than twelve months	898
Total	$ 898
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months \| item	18
Total \| item	18
Fair Value
Unrealized loss for less than twelve months	$ 38,027
Total	38,027
Unrealized Losses
Unrealized loss for less than twelve months	1,147
Total	$ 1,147
US States and Political Subdivisions Debt Securities
Number of Securities
Unrealized loss for less than twelve months \| item	104	2
Unrealized loss for twelve months or longer \| item	1	1
Total \| item	105	3
Fair Value
Unrealized loss for less than twelve months	$ 38,828	$ 558
Unrealized loss for twelve months or longer	228	266
Total	39,056	824
Unrealized Losses
Unrealized loss for less than twelve months	2,524	1
Unrealized loss for twelve months or longer	39	2
Total	$ 2,563	$ 3

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 21,653
Due after one year through five years	36,299
Due after five years through ten years	17,304
Due after ten years	34,052
Total	109,308
Amortized cost	1,526,614	$ 2,148,635
AFS, Fair Value, Rolling Maturity
Due in one year or less	21,538
Due after one year through five years	35,934
Due after five years through ten years	17,539
Due after ten years	32,467
Total	107,478
Fair Value	1,462,340	2,130,568
Residential Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	511,749
Amortized cost	511,749	900,084
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	492,299
Fair Value	492,299	898,446
Collateralized Mortgage Obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	739,554
Amortized cost	739,554	926,783
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	712,584
Fair Value	712,584	916,866
Commercial Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	166,003
Amortized cost	166,003	219,460
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	149,979
Fair Value	$ 149,979	$ 210,699

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 275
Due after one year through five years	897
Due after five years through ten years	16,014
Due after ten years	49,799
Total	66,985
Amortized cost	953,107	$ 267,684
HTM, Fair Value, Rolling Maturities
Due in one year or less	275
Due after one year through five years	898
Due after five years through ten years	15,865
Due after ten years	47,691
Total	64,729
Fair Value	949,034	276,296
Residential Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	325,023
Amortized cost	325,023	9,892
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	324,982
Fair Value	324,982	10,292
Collateralized Mortgage Obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	353,954
Amortized cost	353,954	43,990
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	352,808
Fair Value	352,808	44,466
Commercial Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	207,145
Amortized cost	207,145	145,742
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	206,515
Fair Value	$ 206,515	$ 151,053

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Securities
Realized net gains (losses) from trading securities portfolio	$ (11.5)	$ 8.7
Realized net losses from other securities		0.1
Carrying amount of securities pledged	868.3		$ 809.9
Fair value of securities pledged	839.6		$ 817.7
Hilltop Broker-Dealers
Securities
Realized net gains (losses) from trading securities portfolio	$ 6.7	$ 44.1

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans
Total loans	$ 7,797,903	$ 7,879,904
Allowance for loan losses	(91,185)	(91,352)	$ (144,499)	$ (149,044)
Loans held for investment, net	7,706,718	7,788,552
Commercial real estate
Loans
Total loans	3,105,734	3,042,729
Allowance for loan losses	(60,361)	(59,354)	(104,126)	(109,629)
Commercial and industrial
Loans
Total loans	1,820,476	1,875,420
Allowance for loan losses	(20,130)	(21,982)	(28,513)	(27,703)
Commercial and industrial \| Loans Funded Through Paycheck Protection Program
Loans
Total loans	37,700	77,700
Construction and Land Development
Loans
Total loans	942,929	892,783
Allowance for loan losses	(5,515)	(4,674)	(7,249)	(6,677)
1 - 4 family residential
Loans
Total loans	1,394,334	1,303,430
Allowance for loan losses	(4,340)	(4,589)	(3,388)	(3,946)
Consumer
Loans
Total loans	27,917	32,349
Allowance for loan losses	(499)	(578)	(944)	(876)
Broker-dealer
Loans
Total loans	506,513	733,193
Allowance for loan losses	$ (340)	$ (175)	$ (279)	$ (213)

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)item	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Non-accrual loans
Non-accrual Loans With Allowance	$ 17,678		$ 20,934
Non-accrual Loans With No Allowance	23,839		26,378
Non-accrual loans	41,517		47,312
Interest Income Recognized	796	$ 1,246
Decrease in non-accrual status loans	5,800
Commercial real estate
Non-accrual loans
Decrease in non-accrual status loans	1,000		500
Commercial real estate \| Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	408		413
Non-accrual Loans With No Allowance	868		1,853
Non-accrual loans	1,276		2,266
Interest Income Recognized	97	74
Commercial real estate \| Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	3,036		3,058
Non-accrual Loans With No Allowance	1,841		1,277
Non-accrual loans	4,877		4,335
Interest Income Recognized	83	90
Commercial and industrial
Non-accrual loans
Non-accrual Loans With Allowance	13,140		16,536
Non-accrual Loans With No Allowance	5,346		5,942
Non-accrual loans	18,486		22,478
Interest Income Recognized	$ 188	143
Number of loan relationships \| item	4
Decrease in non-accrual status loans	$ 4,000
Construction and Land Development
Non-accrual loans
Non-accrual Loans With Allowance	1		2
Non-accrual loans	1		2
Interest Income Recognized	7	15
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	1,072		902
Non-accrual Loans With No Allowance	15,784		17,306
Non-accrual loans	16,856		18,208
Interest Income Recognized	421	$ 924
Decrease in non-accrual status loans	1,400
1 - 4 family residential \| Secured by Residential Properties [Member]
Non-accrual loans
Non-accrual loans held for sale	1,900		2,900
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	21		23
Non-accrual loans	$ 21		$ 23

Loans Held for Investment - TDR

Loans Held for Investment - TDRs (Details) $ in Millions	3 Months Ended
Loans Held for Investment - TDRs (Details) $ in Millions	Mar. 31, 2022USD ($)loan	Mar. 31, 2021loan
TDRs, Non-covered loans
Number of TDR loans granted	1	0
TDR at extension \| $	$ 0.6
Unadvanced commitments to borrowers \| $	$ 0
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due	0	0
AB Note \| Minimum \| Plains Capital Bank
TDRs, Non-covered loans
Number of loans into which a single loan may be reconfigured	2

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 6,907,031
Total loans	7,797,903	$ 7,879,904
Accruing Loans Past Due 90 Days or More	100	101
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	12,644	10,477
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,233	3,725
Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	20,027	21,950
Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	33,904	36,152
Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	7,763,999	7,843,752
Prime Lending
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Repurchase under a forbearance agreement	37,400
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	87,400		$ 60,700
Unpaid principal balance loans past due 90 days or more	88,300		$ 61,700
Commercial real estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	3,105,734	3,042,729
Commercial real estate \| Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	1,812,472	1,729,699
Commercial real estate \| Non-owner occupied \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans		117
Commercial real estate \| Non-owner occupied \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	199	1,173
Commercial real estate \| Non-owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	199	1,290
Commercial real estate \| Non-owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,812,273	1,728,409
Commercial real estate \| Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	1,293,262	1,313,030
Commercial real estate \| Owner occupied \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	672	590
Commercial real estate \| Owner occupied \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	113	688
Commercial real estate \| Owner occupied \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	2,265	2,273
Commercial real estate \| Owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,050	3,551
Commercial real estate \| Owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,290,212	1,309,479
Commercial and industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	1,820,476	1,875,420
Accruing Loans Past Due 90 Days or More		1
Commercial and industrial \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	4,495	1,059
Commercial and industrial \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	67	277
Commercial and industrial \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	12,274	13,640
Commercial and industrial \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	16,836	14,976
Commercial and industrial \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,803,640	1,860,444
Construction and Land Development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	942,929	892,783
Construction and Land Development \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans		946
Construction and Land Development \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans		946
Construction and Land Development \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	942,929	891,837
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	1,394,334	1,303,430
Accruing Loans Past Due 90 Days or More	100	100
1 - 4 family residential \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	7,355	7,642
1 - 4 family residential \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	956	2,738
1 - 4 family residential \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	5,269	4,842
1 - 4 family residential \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	13,580	15,222
1 - 4 family residential \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,380,754	1,288,208
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	27,917	32,349
Consumer \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	122	123
Consumer \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	97	22
Consumer \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	20	22
Consumer \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	239	167
Consumer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	27,678	32,182
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Total loans	506,513	733,193
Broker-dealer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 506,513	$ 733,193

Loans Held for Investment - Int

Loans Held for Investment - Internal Risk Grades (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Internal risk grades of non-covered loans
2022	$ 683,114
2021	2,642,018
2020	1,133,090
2019	550,462
2018	419,100
Prior	622,976
Revolving	856,271
Total loans with credit quality measures	6,907,031
Total loans	7,797,903	$ 7,879,904
Commercial real estate
Internal risk grades of non-covered loans
Total loans	3,105,734	3,042,729
Commercial real estate \| Non-owner occupied
Internal risk grades of non-covered loans
Total loans	1,812,472	1,729,699
Commercial real estate \| Non-owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2022	46,615
2021	21,875
2020	15,853
2019	4,698
2018	8,920
Prior	11,687
Total loans with credit quality measures	109,648
Commercial real estate \| Non-owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2022	95,564
2021	315,087
2020	171,618
2019	99,716
2018	48,529
Prior	73,652
Revolving	43,970
Total loans with credit quality measures	848,136
Commercial real estate \| Non-owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2022	61,069
2021	218,841
2020	174,513
2019	111,858
2018	79,166
Prior	121,205
Revolving	1,357
Total loans with credit quality measures	768,009
Commercial real estate \| Non-owner occupied \| Special Mention
Internal risk grades of non-covered loans
2019	3,093
Total loans with credit quality measures	3,093
Commercial real estate \| Non-owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2022	14,671
2021	23,918
2020	4,148
2019	15,352
2018	9,159
Prior	15,062
Total loans with credit quality measures	82,310
Commercial real estate \| Non-owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2021	407
Prior	869
Total loans with credit quality measures	1,276
Commercial real estate \| Owner occupied
Internal risk grades of non-covered loans
Total loans	1,293,262	1,313,030
Commercial real estate \| Owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2022	10,579
2021	107,384
2020	58,612
2019	14,701
2018	24,999
Prior	66,334
Revolving	4,902
Total loans with credit quality measures	287,511
Commercial real estate \| Owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2022	40,171
2021	196,366
2020	98,866
2019	95,547
2018	81,919
Prior	82,779
Revolving	17,853
Total loans with credit quality measures	613,501
Commercial real estate \| Owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2022	24,342
2021	83,691
2020	101,623
2019	37,621
2018	69,770
Prior	36,185
Revolving	880
Total loans with credit quality measures	354,112
Commercial real estate \| Owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2021	579
2020	8,939
2019	1,940
2018	6,788
Prior	15,015
Total loans with credit quality measures	33,261
Commercial real estate \| Owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	634
2021	1,535
2019	(4)
2018	340
Prior	2,372
Total loans with credit quality measures	4,877
Commercial and industrial
Internal risk grades of non-covered loans
Total loans	1,820,476	1,875,420
Commercial and industrial \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2022	11,989
2021	39,228
2020	23,278
2019	26,431
2018	5,590
Prior	9,029
Revolving	105,205
Total loans with credit quality measures	220,750
Commercial and industrial \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2022	68,770
2021	125,092
2020	76,928
2019	21,534
2018	18,220
Prior	20,850
Revolving	315,926
Total loans with credit quality measures	647,320
Commercial and industrial \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2022	28,620
2021	98,569
2020	66,526
2019	24,775
2018	9,771
Prior	8,719
Revolving	273,923
Total loans with credit quality measures	510,903
Commercial and industrial \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2021	2,454
2020	11,835
2019	4,552
2018	5,405
Prior	7,210
Revolving	7,202
Total loans with credit quality measures	38,658
Commercial and industrial \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	184
2021	3,228
2020	14,239
2019	15
2018	348
Prior	472
Total loans with credit quality measures	18,486
Commercial and industrial \| Mortgage Warehouse Lending
Internal risk grades of non-covered loans
Loans without credit quality measures	337,097
Commercial and industrial \| Loans Funded Through Paycheck Protection Program
Internal risk grades of non-covered loans
Loans without credit quality measures	37,651
Total loans	37,700	77,700
Commercial and industrial \| Loans Accounted At Fair Value
Internal risk grades of non-covered loans
Loans without credit quality measures	9,611
Construction and Land Development
Internal risk grades of non-covered loans
Total loans	942,929	892,783
Construction and Land Development \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2022	179
2021	1,322
2018	1,004
Total loans with credit quality measures	2,505
Construction and Land Development \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2022	5,387
2021	9,105
2020	56
Total loans with credit quality measures	14,548
Construction and Land Development \| Other.
Internal risk grades of non-covered loans
2022	1,516
2021	843
Total loans with credit quality measures	2,359
Construction and Land Development \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2022	6,065
2021	11,647
2020	36,455
2019	3,120
2018	1,550
Prior	3,223
Revolving	1
Total loans with credit quality measures	62,061
Construction and Land Development \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2022	78,010
2021	301,661
2020	100,930
2019	14,959
2018	3,033
Prior	3,556
Revolving	37,517
Total loans with credit quality measures	539,666
Construction and Land Development \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2022	70,820
2021	171,810
2020	30,082
2019	5,002
2018	749
Prior	1,690
Revolving	34,941
Total loans with credit quality measures	315,094
Construction and Land Development \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2021	1,369
2019	27
Prior	5,299
Total loans with credit quality measures	6,695
Construction and Land Development \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2016 and Prior	1
Total loans with credit quality measures	1
1 - 4 family residential
Internal risk grades of non-covered loans
Total loans	1,394,334	1,303,430
1 - 4 family residential \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2021	548
2020	458
2019	608
2018	3,585
Prior	24,556
Revolving	240
Total loans with credit quality measures	29,995
1 - 4 family residential \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2022	8,914
2021	15,083
2020	9,742
2019	6,563
2018	7,038
Prior	30,351
Revolving	2,746
Total loans with credit quality measures	80,437
1 - 4 family residential \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2022	85,058
2021	800,097
2020	116,004
2019	49,919
2018	29,163
Prior	59,967
Revolving	3,598
Total loans with credit quality measures	1,143,806
1 - 4 family residential \| Substandard non-accrual
Internal risk grades of non-covered loans
2020	(5)
2019	791
2018	271
Prior	15,799
Total loans with credit quality measures	16,856
1 - 4 family residential \| Other.
Internal risk grades of non-covered loans
2022	17,246
2021	81,074
2020	8,941
2019	5,675
2018	3,468
Prior	6,447
Revolving	389
Total loans with credit quality measures	123,240
Consumer
Internal risk grades of non-covered loans
Total loans	27,917	32,349
Consumer \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2022	150
2021	956
2020	285
2019	352
2018	34
Prior	113
Revolving	360
Total loans with credit quality measures	2,250
Consumer \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2022	1,859
2021	2,648
2020	797
2019	679
2018	91
Prior	471
Revolving	1,961
Total loans with credit quality measures	8,506
Consumer \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2022	2,742
2021	2,675
2020	1,799
2019	645
2018	163
Prior	14
Revolving	3,042
Total loans with credit quality measures	11,080
Consumer \| Substandard non-accrual
Internal risk grades of non-covered loans
Prior	21
Total loans with credit quality measures	21
Consumer \| Other.
Internal risk grades of non-covered loans
2022	1,960
2021	2,926
2020	568
2019	293
2018	27
Prior	28
Revolving	258
Total loans with credit quality measures	6,060
Broker-dealer
Internal risk grades of non-covered loans
Loans without credit quality measures	506,513
Total loans	$ 506,513	$ 733,193

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for Credit Losses
Available for sale debt securities past due	$ 0
Increase in allowance on individually evaluated loans	0.3	$ 1.4
Reversal of credit losses for collectively evaluated loans	0.2	6.5
Allowance for Loan and Lease Losses Write-offs, net of recoveries	$ 0.3	$ (0.6)

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	$ 91,352	$ 149,044
Provision for (reversal of) credit losses	115	(5,109)
Loans Charged Off	(1,337)	(368)
Recoveries on Charged Off Loans	1,055	932
Balance, End of Period	91,185	144,499
Commercial real estate
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	59,354	109,629
Provision for (reversal of) credit losses	975	(5,517)
Recoveries on Charged Off Loans	32	14
Balance, End of Period	60,361	104,126
Commercial and industrial
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	21,982	27,703
Provision for (reversal of) credit losses	(1,550)	556
Loans Charged Off	(1,209)	(179)
Recoveries on Charged Off Loans	907	433
Balance, End of Period	20,130	28,513
Construction and Land Development
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	4,674	6,677
Provision for (reversal of) credit losses	841	572
Balance, End of Period	5,515	7,249
1 - 4 family residential
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	4,589	3,946
Provision for (reversal of) credit losses	(247)	(857)
Loans Charged Off	(15)	(110)
Recoveries on Charged Off Loans	13	409
Balance, End of Period	4,340	3,388
Consumer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	578	876
Provision for (reversal of) credit losses	(69)	71
Loans Charged Off	(113)	(79)
Recoveries on Charged Off Loans	103	76
Balance, End of Period	499	944
Broker-dealer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	175	213
Provision for (reversal of) credit losses	165	66
Balance, End of Period	$ 340	$ 279

Allowance for Credit Losses - O

Allowance for Credit Losses - Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period	$ 5,880	$ 8,388
Other noninterest expense	607	419
Balance, end of period	$ 6,487	$ 8,807

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Change in fair value of mortgage servicing rights
Balance, beginning of year	$ 86,990
Balance, end of year	100,475		$ 86,990
MSR asset
Change in fair value of mortgage servicing rights
Balance, beginning of year	86,990	$ 143,742	143,742
Additions	7,301	34,301
Sales	(1,876)	(52,783)
Changes in fair value: Due to changes in model inputs or assumptions	10,856	24,137
Changes in fair value: Due to customer payoffs	(2,796)	(7,272)
Balance, end of year	100,475	142,125	86,990
Mortgage loans serviced for others	$ 6,432,236		$ 6,355,927
MSR asset as a percentage of serviced mortgage loans	1.56%		1.37%
Mortgage servicing assets adjustment, fair value		$ 9,700
Key Assumptions
Weighted average constant prepayment rate (as a percent)	8.47%		10.02%
Weighted average discount rate (as a percent)	14.36%		14.32%
Weighted average life (in years)	7 years 9 months 18 days		7 years 1 month 6 days

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Mortgage Servicing Rights
Constant prepayment rate: Impact of 10% adverse change	$ (1,047)		$ (2,603)
Constant prepayment rate: Impact of 20% adverse change	(2,289)		(5,315)
Discount rate: Impact of 10% adverse change	(5,025)		(4,070)
Discount rate: Impact of 20% adverse change	(9,556)		$ (7,753)
Contractually specified servicing fees, late fees and ancillary fees	$ 8,500	$ 16,200

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposits
Noninterest-bearing demand	$ 4,694,592	$ 4,577,183
Interest-bearing:
Demand accounts	3,198,506	3,270,522
Brokered - demand	101,058	114,393
Money market	3,277,619	3,433,341
Brokered - money market	103,998	98,614
Savings	356,036	345,795
Time	919,416	962,752
Brokered - time	15,477	15,477
Total deposits	12,666,702	$ 12,818,077
Time deposits that meet or exceed FDIC insurance limit	$ 416,300

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	3 Months Ended
Short-term Borrowings (Details) $ in Thousands	Mar. 31, 2022USD ($)item	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Short-term borrowings
Short-term borrowings	$ 835,054		$ 859,444
Federal funds purchased
Short-term borrowings
Short-term borrowings	286,550		171,925
Securities sold under agreements to repurchase
Short-term borrowings
Short-term borrowings	$ 168,445		191,547
Federal Home Loan Bank \| Maximum
Short-term borrowings
Maturity term of debt	365 days
Short-term bank loans
Short-term borrowings
Short-term borrowings	$ 25,500		142,000
Short-term bank loans \| Hilltop Broker-Dealers
Short-term borrowings
Weighted average interest rate on short-term bank loan borrowings (as a percent)	1.50%
Commercial paper
Short-term borrowings
Short-term borrowings	$ 354,559		$ 353,972
Number of commercial paper programs initiated \| item	2
Weighted average maturity term	143 days
Weighted average interest rate on short-term bank loan borrowings (as a percent)	1.17%
Weighted average remaining life	77 days
Debt instrument, collateral	$ 381,400
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	$ 429,000	$ 367,313
Average interest rate during the period	0.34%	0.36%
Average interest rate at end of period (as a percent)	0.38%		0.31%
Securities underlying the agreements at end of period: Carrying value	$ 268,423		$ 191,483
Securities underlying the agreements at end of period: Estimated fair value	$ 281,993		$ 205,734

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument
Notes payable	$ 395,479	$ 387,904
Senior Notes due April 2025
Debt Instrument
Notes payable	149,160	149,114
Unamortized discount	840	886
Subordinated Notes due May 2030
Debt Instrument
Notes payable	49,319	49,296
Unamortized discount	681	704
Subordinated Notes Due May 2035
Debt Instrument
Notes payable	147,825	147,780
Unamortized discount	2,175	2,220
Ventures Management lines of credit
Debt Instrument
Notes payable	$ 49,175	$ 41,714

Lease - Supplemental balance sh

Lease - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(5,505)	(5,358)
Premises and equipment, net	$ 2,275	$ 2,422

Lease - Components of lease cos

Lease - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Components of operating lease costs
Operating lease cost	$ 9,606	$ 9,718
Less operating lease and sublease income	(569)	(339)
Net operating lease cost	9,037	9,379
Amortization of ROU assets	147	147
Interest on lease liabilities	124	134
Total finance lease cost	$ 271	$ 281

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases
Operating cash flows from operating leases	$ 9,767	$ 9,240
Operating cash flows from finance leases	125	134
Financing cash flows from finance leases	184	167
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 1,276	$ 6,334

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Mar. 31, 2022	Dec. 31, 2021
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 9 months 18 days	5 years 10 months 24 days
Finance - Weighted Average Remaining Lease Term (Years)	4 years 7 months 6 days	4 years 9 months 18 days
Operating - Weighted Average Discount Rate	3.83%	3.89%
Finance - Weighted Average Discount Rate	4.85%	4.84%

Lease - Lease maturities (Detai

Lease - Lease maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Operating leases maturities
2022	$ 17,946
2023	31,250
2024	22,980
2025	16,648
2026	13,487
Thereafter	38,805
Total minimum lease payments	141,116
Less amount representing interest	(15,197)
Lease liabilities	125,919	$ 130,960
Finance Leases maturities:
2022	932
2023	1,280
2024	1,163
2025	886
2026	813
Thereafter	598
Total minimum lease payments	5,672
Less amount representing interest	(1,687)
Lease liabilities	$ 3,985
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities.

Lease - Operating leases that h

Lease - Operating leases that have not yet commenced (Details) $ in Millions	Mar. 31, 2022USD ($)
Leases
Additional operating leases that have not yet commenced	$ 0.9
Minimum
Leases
Expected to commence	3 years
Maximum
Leases
Expected to commence	5 years

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
Income Taxes - Narrative (Details)	Mar. 31, 2022	Mar. 31, 2021
Income Taxes
Effective income tax rate (as a percent)	19.40%	23.40%

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Representation and Warranty Claims [Member]
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of period	$ 31,407	$ 30,085
Claims made	9,842	5,112
Claims resolved with no payment	(4,521)	(2,914)
Repurchases	(6,457)	(1,811)
Indemnification payments		(335)
Balance, end of period	30,271	30,137
Reserve for Indemnification Liability:
Total	30,271	30,137	$ 31,407
Indemnification Agreement [Member]
Commitments and Contingencies
Provision for indemnification losses	500	3,000
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of period	27,424	21,531
Additions for new sales	753	3,007
Repurchases	(565)	(124)
Early payment defaults	(71)	(12)
Indemnification payments		(141)
Change in reserves for loans sold in prior years	(291)
Balance, end of period	27,250	24,261
Reserve for Indemnification Liability:
Specific claims	550		345
Incurred but not reported claims	26,700		27,079
Total	$ 27,250	$ 24,261	$ 27,424

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Details) $ in Millions	Mar. 31, 2022USD ($)
Commitments to Extend Credit [Member]
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 2,300
Standby Letters of Credit [Member]
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 106.2

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
2020 Plan \| Director
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	5,064	4,181

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2020 Plan - RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of shares outstanding
Balance at the beginning of the period ( in shares) \| shares	1,869
Granted (in shares) \| shares	527
Vested/Released (in shares) \| shares	(598)
Forfeited (in shares) \| shares	(1)
Balance at the end of the period ( in shares) \| shares	1,797
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) \| $ / shares	$ 23.16
Grant date fair value (in dollars per share) \| $ / shares	33.49
Vested/Released (in dollars per share) \| $ / shares	19.12
Forfeited (in dollars per share) \| $ / shares	26.51
Balance at the end of the period (in dollars per share) \| $ / shares	$ 27.53

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2020 Plan - RSUs $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)	129,704
Number of shares awarded (in shares)	527,000
Number of awards subject to time-based vesting (in shares)	1,388,022
Number of awards vesting upon achievement of performance goals (in shares)	408,458
Performance period	3 years
Vesting period	3 years
Unrecognized compensation expense \| $	$ 32.3
Weighted average period for unrecognized compensation expense (in years)	1 year 8 months 8 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	453,814
Number of awards subject to time-based vesting (in shares)	318,256
Number of awards vesting upon achievement of performance goals (in shares)	135,558
Performance period	3 years
Vesting period	3 years

Regulatory Matters - Minimum Ca

Regulatory Matters - Minimum Capital Requirements (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Regulatory matters
Regulatory capital effects from CECL transitionary period	5 years
Plains Capital Bank
Tier 1 capital (to average assets)
Actual Amount	$ 1,445,107	$ 1,469,695
Actual Ratio (as a percent)	9.74	10.20
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	4.00%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	5
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 1,445,107	$ 1,469,695
Actual Ratio (as a percent)	15.37	16
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	7.00%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	6.5
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,445,107	$ 1,469,695
Actual Ratio (as a percent)	15.37	16
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	8.50%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	8
Total capital (to risk-weighted assets)
Actual Amount	$ 1,521,598	$ 1,540,100
Actual Ratio (as a percent)	16.18	16.77
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	10.50%
To Be Well Capitalized Minimum Capital Requirements, Ratio (as a percent)	10
Hilltop
Tier 1 capital (to average assets)
Actual Amount	$ 2,274,879	$ 2,262,356
Actual Ratio (as a percent)	12.46	12.58
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	4.00%
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 2,274,879	$ 2,262,356
Actual Ratio (as a percent)	21.27	21.22
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	7.00%
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 2,274,879	$ 2,262,356
Actual Ratio (as a percent)	21.27	21.22
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	8.50%
Total capital (to risk-weighted assets)
Actual Amount	$ 2,550,742	$ 2,532,008
Actual Ratio (as a percent)	23.85	23.75
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio (as a percent)	10.50%

Regulatory Matters - Net Capita

Regulatory Matters - Net Capital Position, Broker-Dealers (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 128,408	$ 221,740	$ 273,393
Hilltop Securities
Net Capital
Net capital	203,920
Less required net capital	10,335
Excess net capital	$ 193,585
Net capital as a percentage of aggregate debit items	39.50%
Net capital in excess of 5% aggregate debt items	$ 178,083
Momentum Independent Network
Net Capital
Net capital	4,370
Less required net capital	250
Excess net capital	4,120
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 128,400	$ 221,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 21, 2022	Mar. 31, 2022	Mar. 31, 2021	Jan. 31, 2022
Stockholders' Equity
Cash dividends declared per common share	$ 0.15	$ 0.15	$ 0.12
Cash dividends paid		$ 11.8	$ 9.9
Repurchase common stock authorized amount				$ 100
Repurchase of common stock (in shares)		0

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Not Designated as Hedging Instrument \| Prime Lending
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	$ 22,052	$ 43,839
Not Designated as Hedging Instrument \| Hilltop Broker-Dealers
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	(1,327)	(22,194)
Not Designated as Hedging Instrument \| Plains Capital Bank
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	29	$ 11
Not Designated as Hedging Instrument \| PrimeLending and Hilltop Broker-Dealers \| Other Assets
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	13,600		$ 4,200
Designated as hedges
Derivative financial instruments
Available for sale securities and loans held for investment	293,400		218,000
Cumulative adjustment in available for sale securities and loans held for investment	18,100		3,200
Interest Rate Lock Commitments \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,823,612		1,283,152
Estimated Fair Value	6,846		25,489
Commitments to Purchase MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,056,250		1,575,264
Estimated Fair Value	(17,734)		(674)
Commitments to Sell MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	3,617,815		3,314,173
Estimated Fair Value	48,817		(355)
Commitments to Sell MBSs \| Not Designated as Hedging Instrument \| Prime Lending \| Other Assets
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	56,700		3,700
Commitments to Sell MBSs \| Not Designated as Hedging Instrument \| Prime Lending \| Other Liabilities
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	0
Interest rate swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	41,881		68,413
Estimated Fair Value	3,440		(1,949)
Interest rate swaps \| Cash Flow Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	285,000		190,000
Estimated Fair Value	9,704		603
Interest rate swaps \| Fair Value Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	311,463		221,232
Estimated Fair Value	18,061		3,207
U.S. Treasury bond futures and options \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	231,300		247,800
Eurodollar and other futures \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,536,200		2,061,800
Credit default swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	5,000		7,000
Estimated Fair Value	$ (45)		$ (15)

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 256,991	$ 118,262
Total
Gross Amounts of Recognized Assets	1,763,678	1,639,589
Gross Amounts Offset in the Balance Sheet	(816)	(1,773)
Net Amounts of Assets Presented in the Balance Sheet	1,762,862	1,637,816
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,637,648)	(1,564,596)
Net Amount	125,214	73,220
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,453,614	1,518,372
Net Amounts of Assets Presented in the Balance Sheet	1,453,614	1,518,372
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,372,166)	(1,445,590)
Net Amount	81,448	72,782
Interest rate swaps \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	3,440
Net Amounts of Assets Presented in the Balance Sheet	3,440
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(3,440)
Net Amounts of Assets Presented in the Balance Sheet	0
Reverse repurchase agreements \| Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	256,991	118,262
Net Amounts of Assets Presented in the Balance Sheet	256,991	118,262
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(254,358)	(118,262)
Net Amount	2,633	0
Forward MBS Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	49,633	2,955
Gross Amounts Offset in the Balance Sheet	(816)	(1,773)
Net Amounts of Assets Presented in the Balance Sheet	48,817	1,182
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(7,684)	(744)
Net Amounts of Assets Presented in the Balance Sheet	$ 41,133	$ 438

Balance Sheet Offsetting - Liab

Balance Sheet Offsetting - Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Total
Gross Amounts of Recognized Liabilities	$ 1,500,456	$ 1,627,854
Net Amounts of Liabilities Presented in the Balance Sheet	1,500,456	1,627,854
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,433,885)	(1,569,729)
Net Amount	66,571	58,125
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,314,279	1,432,196
Net Amounts of Liabilities Presented in the Balance Sheets	1,314,279	1,432,196
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,235,834)	(1,359,850)
Net Amount	78,445	72,346
Institutional Counterparties \| Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities		1,949
Net Amounts of Liabilities Presented in the Balance Sheet		1,949
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(1,919)
Net Amount		30
Institutional Counterparties \| Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	168,398	191,483
Net Amounts of Liabilities Presented in the Balance Sheet	168,398	191,483
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(180,272)	(205,734)
Net Amount	(11,874)	(14,251)
Institutional Counterparties \| Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	17,734	2,211
Net Amounts of Liabilities Presented in the Balance Sheet	17,734	2,211
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(17,734)	(2,211)
Net Amount	0
Institutional Counterparties \| Credit default swaps
Derivatives:
Gross Amounts of Recognized Liabilities	45	15
Net Amounts of Liabilities Presented in the Balance Sheet	45	15
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(45)	(15)
Net Amount	$ 0	$ 0

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)item	Dec. 31, 2021USD ($)item
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Number of repurchase-to-maturity transactions outstanding \| item	0	0
Total borrowings	$ 1,482,677	$ 1,623,679
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 1,482,677	1,623,679
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	$ 1,383,632	1,525,847
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	75,601
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	19,274	86,357
Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	4,170	11,475
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	168,398	191,483
Assets-backed securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	69,353	93,651
Assets-backed securities \| Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	75,601
Assets-backed securities \| Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	19,274	86,357
Assets-backed securities \| Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	4,170	11,475
Corporate Debt Securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	119	113
Corporate Debt Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	119	113
Equity Securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	1,314,160	1,432,083
Equity Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,314,160	$ 1,432,083

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Receivables:
Securities borrowed	$ 1,453,614	$ 1,518,372
Securities failed to deliver	70,257	5,664
Trades in process of settlement	81,568	144,773
Other	4,913	4,137
Total receivables	1,610,352	1,672,946
Payables:
Securities loaned	1,314,279	1,432,196
Correspondents	22,576	20,571
Securities failed to receive	55,348	18,808
Other	5,633	5,725
Total Payables	$ 1,397,836	$ 1,477,300

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended
Segment and Related Information (Details) $ in Thousands	Mar. 31, 2022USD ($)itemsegment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Information about the revenues, operating results, goodwill and assets
Number of primary business units \| item	2
Number of reportable segments \| segment	3
Net interest income (expense)	$ 99,991	$ 105,682
Provision for (reversal of) credit losses	115	(5,109)
Noninterest income	216,428	417,585
Noninterest expense	286,350	366,662
Income before income taxes	29,954	161,714
Goodwill	267,447		$ 267,447
Total assets	18,356,956		18,689,080
Operating Segments \| Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	92,070	103,884
Provision for (reversal of) credit losses	(50)	(5,175)
Noninterest income	12,771	11,324
Noninterest expense	58,430	55,788
Income before income taxes	46,461	64,595
Goodwill	247,368		247,368
Total assets	14,913,201		14,944,249
Operating Segments \| Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	11,518	10,514
Provision for (reversal of) credit losses	165	66
Noninterest income	60,691	98,623
Noninterest expense	80,647	91,404
Income before income taxes	(8,603)	17,667
Goodwill	7,008		7,008
Total assets	3,257,788		3,673,346
Operating Segments \| Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(1,835)	(7,098)
Noninterest income	143,195	310,444
Noninterest expense	134,859	210,334
Income before income taxes	6,501	93,012
Goodwill	13,071		13,071
Total assets	2,032,234		2,207,822
Operating Segments \| Insurance Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(3,389)	(4,692)
Noninterest income	1,766	506
Noninterest expense	12,793	9,588
Income before income taxes	(14,416)	(13,774)
Total assets	2,889,407		2,940,670
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	1,627	3,074
Noninterest income	(1,995)	(3,312)
Noninterest expense	(379)	(452)
Income before income taxes	11	$ 214
Total assets	$ (4,735,674)		$ (5,077,007)

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Basic earnings per share:
Income attributable to Hilltop	$ 22,250	$ 120,345
Weighted average shares outstanding - basic	79,114	82,169
Basic earnings per common share (in dollars per share)	$ 0.28	$ 1.46
Diluted earnings per share:
Income attributable to Hilltop	$ 22,250	$ 120,345
Weighted average shares outstanding - basic	79,114	82,169
Effect of potentially dilutive securities (in shares)	242	488
Weighted average shares outstanding - diluted	79,356	82,657
Diluted earnings per common share (in dollars per share)	$ 0.28	$ 1.46