Hilltop (HTH) 10-Q24 Apr 232023 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, 2023	Apr. 21, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HTH
Security Exchange Name	NYSE
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
Entity Common Stock, Shares Outstanding		65,023,881
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 1,764,081	$ 1,579,512
Federal funds sold	743	650
Assets segregated for regulatory purposes	36,199	67,737
Securities purchased under agreements to resell	144,201	118,070
Securities:
Trading, at fair value	692,908	755,032
Available for sale, at fair value, net (amortized cost of $1,758,339 and $1,788,557, respectively)	1,641,571	1,658,766
Held to maturity, at amortized cost, net (fair value of $785,380 and $785,335, respectively)	862,280	875,532
Equity, at fair value	231	200
Total securities	3,196,990	3,289,530
Loans held for sale	1,040,138	982,616
Loans held for investment, net of unearned income	8,192,846	8,092,673
Allowance for credit losses	(97,354)	(95,442)
Loans held for investment, net	8,095,492	7,997,231
Broker-dealer and clearing organization receivables	1,560,246	1,038,055
Premises and equipment, net	180,132	184,950
Operating lease right-of-use assets	100,122	102,443
Mortgage servicing rights	103,314	100,825
Other assets	529,438	518,899
Goodwill	267,447	267,447
Other intangible assets, net	10,544	11,317
Total assets	17,029,087	16,259,282
Deposits:
Noninterest-bearing	3,807,878	3,968,862
Interest-bearing	7,289,269	7,346,887
Total deposits	11,097,147	11,315,749
Broker-dealer and clearing organization payables	1,383,317	966,470
Short-term borrowings	1,572,794	970,056
Securities sold, not yet purchased, at fair value	51,497	53,023
Notes payable	376,410	346,654
Operating lease liabilities	122,878	126,759
Other liabilities	341,246	417,042
Total liabilities	14,945,289	14,195,753
Commitments and contingencies (see Notes 13 and 14)
Hilltop stockholders' equity:
Common stock, $0.01 par value, 125,000,000 shares authorized; 65,022,932 and 64,684,625 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	650	647
Additional paid-in capital	1,044,774	1,046,331
Accumulated other comprehensive loss	(125,461)	(133,531)
Retained earnings	1,136,901	1,123,636
Deferred compensation employee stock trust, net	446	481
Employee stock trust (21,126 and 22,566 shares, at cost, at March 31, 2023 and December 31, 2022, respectively)	(599)	(640)
Total Hilltop stockholders' equity	2,056,711	2,036,924
Noncontrolling interests	27,087	26,605
Total stockholders' equity	2,083,798	2,063,529
Total liabilities and stockholders' equity	$ 17,029,087	$ 16,259,282

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 1,758,339	$ 1,788,557
Fair Value	$ 785,380	$ 785,335
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	65,022,932	64,684,625
Common stock, shares outstanding	65,022,932	64,684,625
Employee stock trust, shares	21,126	22,566

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income:
Loans, including fees	$ 123,379	$ 90,408
Securities borrowed	17,068	8,817
Securities:
Taxable	25,602	15,581
Tax-exempt	3,188	2,419
Other	22,190	2,312
Total interest income	191,427	119,537
Interest expense:
Deposits	35,824	4,193
Securities loaned	15,346	7,472
Short-term borrowings	12,444	2,045
Notes payable	3,853	4,437
Other	2,255	1,399
Total interest expense	69,722	19,546
Net interest income	121,705	99,991
Provision for credit losses	2,331	115
Net interest income after provision for credit losses	119,374	99,876
Noninterest income:
Net gains from sale of loans and other mortgage production income	39,966	110,894
Mortgage loan origination fees	28,777	32,062
Securities commissions and fees	31,223	37,146
Investment and securities advisory fees and commissions	26,848	29,705
Other	35,680	6,621
Total noninterest income	162,494	216,428
Noninterest expense:
Employees' compensation and benefits	167,817	200,019
Occupancy and equipment, net	22,865	24,766
Professional services	10,697	10,063
Other	49,091	51,502
Total noninterest expense	250,470	286,350
Income before income taxes	31,398	29,954
Income tax expense	3,630	5,815
Net income	27,768	24,139
Less: Net income attributable to noncontrolling interest	1,968	1,889
Income attributable to Hilltop	$ 25,800	$ 22,250
Basic:
Basic (in dollars per share)	$ 0.40	$ 0.28
Diluted:
Diluted (in dollars per share)	$ 0.40	$ 0.28
Weighted average share information:
Basic (in shares)	64,901	79,114
Diluted (in shares)	64,954	79,356

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 27,768	$ 24,139
Other comprehensive income (loss):
Change in fair value of cash flow hedges, net taxes of $(1,006) and $2,103, respectively	(3,249)	21,877
Net unrealized gains (losses) on securities available for sale, net taxes of $3,160 and $(10,677), respectively	9,863	(35,543)
Reclassification adjustment for gains (losses) included in net income, net taxes of $0 and $3, respectively		10
Adjustment for unrealized losses on securities transferred from available-for sale to held-to-maturity, net taxes $0 and $(17,033), respectively		(56,690)
Amortization of unrealized losses on securities transferred from available-for-sale to held-maturity, net taxes $438 and, $0, respectively	1,457
Comprehensive income (loss)	35,839	(46,207)
Less: comprehensive income attributable to noncontrolling interest	1,968	1,889
Comprehensive income (loss) applicable to Hilltop	$ 33,871	$ (48,096)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Cash flow hedge, tax	$ (1,006)	$ 2,103
Net unrealized gains (losses) on securities available for sale, tax	3,160	(10,677)
Reclassification adjustment, tax	0	3
Adjustment for unrealized losses on securities	0	(17,033)
Amortization of unrealized losses on securities	$ 438	$ 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, 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 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
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
Balance at Dec. 31, 2022	2,036,924	$ 647	1,046,331	(133,531)	1,123,636	481	$ (640)	26,605	2,063,529
Balance (in shares) at Dec. 31, 2022		64,685,000					23,000
Increase (Decrease) in Stockholders' Equity
Net income	25,800				25,800			1,968	27,768
Other comprehensive loss	8,070			8,070					8,070
Stock-based compensation expense	4,047		4,047						4,047
Common stock issued to board members	150		150						150
Common stock issued to board members (in shares)		5,000
Issuance of common stock related to share-based awards, net	(3,432)	$ 5	(3,437)						(3,432)
Issuance of common stock related to share-based awards, net (in shares)		478,000
Repurchases of common stock	(4,503)	$ (2)	(2,317)		(2,184)				$ (4,503)
Repurchases of common stock (in shares)		(145,000)							(144,403)
Dividends on common stock	(10,351)				(10,351)				$ (10,351)
Deferred compensation plan	6					(35)	$ 41		6
Deferred compensation plan (in shares)							(2,000)
Net cash distributed to noncontrolling interest								(1,486)	(1,486)
Balance at Mar. 31, 2023	$ 2,056,711	$ 650	$ 1,044,774	$ (125,461)	$ 1,136,901	$ 446	$ (599)	$ 27,087	$ 2,083,798
Balance (in shares) at Mar. 31, 2023		65,023,000					21,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares		3 Months Ended
	Apr. 20, 2023	Mar. 31, 2023	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.16	$ 0.16	$ 0.15

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Activities
Net income	$ 27,768	$ 24,139
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	2,331	115
Depreciation, amortization and accretion, net	5,843	7,709
Deferred income taxes	2,923	2,664
Other, net	4,150	5,231
Net change in securities purchased under agreements to resell	(26,131)	(138,729)
Net change in trading securities	62,124	176,235
Net change in broker-dealer and clearing organization receivables	(452,555)	289,274
Net change in other assets	30,650	(53,745)
Net change in broker-dealer and clearing organization payables	406,392	(129,753)
Net change in other liabilities	(98,945)	(20,854)
Net change in securities sold, not yet purchased	(1,526)	1,043
Proceeds from sale of mortgage servicing rights asset		1,876
Change in valuation of mortgage servicing rights asset	10,721	(8,060)
Net gains from sales of loans	(39,966)	(110,894)
Loans originated for sale	(2,051,075)	(3,968,559)
Proceeds from loans sold	2,008,839	4,310,942
Net cash provided by (used in) operating activities	(108,457)	388,634
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	14,729	22,851
Proceeds from sales, maturities and principal reductions of securities available for sale	56,549	94,687
Purchases of securities available for sale	(19,997)	(256,887)
Net change in loans held for investment	(170,546)	(142,451)
Purchases of premises and equipment and other assets	(1,139)	(1,380)
Proceeds from sales of premises and equipment and other real estate owned	1,450	843
Net cash paid to Federal Home Loan Bank and Federal Reserve Bank stock	(23,310)	(143)
Net cash used in investing activities	(142,264)	(282,480)
Financing Activities
Net change in deposits	(208,147)	(101,086)
Net change in short-term borrowings	602,328	(24,334)
Proceeds from notes payable	146,110	200,416
Payments on notes payable	(116,474)	(192,955)
Payments to repurchase common stock	(4,503)
Dividends paid on common stock	(10,351)	(11,849)
Net cash distributed to noncontrolling interest	(1,486)	(1,762)
Other, net	(3,632)	(4,244)
Net cash provided by (used in) financing activities	403,845	(135,814)
Net change in cash, cash equivalents and restricted cash	153,124	(29,660)
Cash, cash equivalents and restricted cash, beginning of period	1,647,899	3,045,263
Cash, cash equivalents and restricted cash, end of period	1,801,023	3,015,603
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	63,682	14,862
Cash paid (received) for income taxes, net of refunds	(49)	1,322
Supplemental Schedule of Non-Cash Activities
Conversion of loans to other real estate owned	2,391	53
Additions to mortgage servicing rights	13,210	7,301
Carrying amount of AFS securities transferred to HTM, net of $63,664 and $73,722 unrealized loss, respectively	$ 646,901	$ 708,701

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 1,764,081	$ 2,886,812	$ 1,579,512
Federal funds sold	743	383	650
Assets segregated for regulatory purposes	36,199	128,408	67,737
Total cash, cash equivalents and restricted cash	1,801,023	3,015,603	$ 1,647,899	$ 3,045,263
Carrying amount of AFS securities transferred to HTM, net	$ 63,664	$ 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, 2023
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. 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 (“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, 2022 (“2022 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 a controlling 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. 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 18 to the consolidated financial statements included in the Company’s 2022 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 2022 Form 10-K.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
Recently Issued Accounting Standards	Mar. 31, 2023
Recently Issued Accounting Standards
Recently Issued Accounting Standards	2. Recently Issued Accounting Standards Accounting Standards Adopted During 2023 In March 2022, the FASB issued Accounting Standards Update (“ASU”) 2022-02 to eliminate the recognition and measurement guidance on troubled debt restructurings (“TDRs”) 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. The Company adopted the provisions of ASU 2022-02 as of January 1, 2023 on a prospective basis. The adoption of this amendment did not have a material impact on the Company’s future consolidated financial statements. In September 2022, the FASB issued ASU 2022-04 to require entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of such programs and information about obligations outstanding at the end of the reporting period, including a rollforward of those obligations and a description of where in the financial statements outstanding amounts are present. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The amendments are effective in periods beginning after December 15, 2022, except that the amendments to disclose a rollforward of obligations outstanding will be effective beginning after December 15, 2023. The Company adopted the provisions as of January 1, 2023. The adoption of this amendment did not have a material impact on the Company’s future consolidated financial statements. Accounting Standards Issued But Not Yet Adopted In March 2023, the FASB issued ASU 2023-01 to require entities to classify and account for leases with related parties on the basis of legally enforceable terms and conditions of the arrangement. The amendments are effective in periods beginning after December 15, 2023, including interim periods within those fiscal years. 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, 2023
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, 2023 and December 31, 2022, the aggregate fair value of PrimeLending’s mortgage loans held for sale accounted for under the Fair Value Option was $885.5 million and $855.7 million, respectively, and the unpaid principal balance of those loans was $869.9 million and $850.3 million, 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, 2023 Inputs Inputs Inputs Fair Value Trading securities $ 15,516 $ 677,392 $ — $ 692,908 Available for sale securities — 1,641,571 — 1,641,571 Equity securities 231 — — 231 Loans held for sale — 851,508 33,993 885,501 Loans held for investment — — 9,437 9,437 Derivative assets — 82,020 — 82,020 MSR asset — — 103,314 103,314 Securities sold, not yet purchased 16,736 34,761 — 51,497 Derivative liabilities — 31,291 — 31,291 Level 1 Level 2 Level 3 Total December 31, 2022 Inputs Inputs Inputs Fair Value Trading securities $ 15,456 $ 739,576 $ — $ 755,032 Available for sale securities — 1,658,766 — 1,658,766 Equity securities 200 — — 200 Loans held for sale — 814,990 40,707 855,697 Loans held for investment — — 9,181 9,181 Derivative assets — 88,977 — 88,977 MSR asset — — 100,825 100,825 Securities sold, not yet purchased 25,506 27,517 — 53,023 Derivative liabilities — 11,405 — 11,405 The following tables include a rollforward for those material 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, 2023 Loans held for sale $ 40,707 $ 16,796 $ (23,454) $ (446) $ 390 $ — $ 33,993 Loans held for investment 9,181 — — — 256 — 9,437 MSR asset 100,825 13,210 — — (10,721) — 103,314 Total $ 150,713 $ 30,006 $ (23,454) $ (446) $ (10,075) $ — $ 146,744 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 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, 2023. For material Level 3 financial instruments measured at fair value on a recurring basis at March 31, 2023 and December 31, 2022, the significant unobservable inputs used in the fair value measurements were as follows. Range (Weighted-Average) Financial instrument Valuation Technique Unobservable Inputs March 31, 2023 December 31, 2022 Loans held for sale Market comparable Projected price 86 - 94 % ( 88 %) 88 - 95 % ( 89 %) Loans held for investment Discounted cash flow Discount rate 11.50 % 11.88 % MSR asset Discounted cash flow Constant prepayment rate 9.08 % 8.14 % Discount rate 12.08 % 12.10 % 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 fair value of certain loans held for investment by the Company’s merchant bank subsidiary is measured using the income approach with Level 3 inputs. The fair value of such loans is based upon estimates of expected cash flows using unobservable inputs, including credit spreads derived from comparable securities and benchmark credit curves, and 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 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 material instruments recognized in the consolidated statements of operations that are accounted for under the Fair Value Option (in thousands). Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 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 $ 10,134 $ — $ 10,134 $ (50,855) $ — $ (50,855) Loans held for investment — — — — — — MSR asset (10,721) — (10,721) 8,060 — 8,060 Financial Assets and Liabilities Not Measured at Fair Value on Recurring or Non-Recurring Basis 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 2022 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, 2023 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,764,824 $ 1,764,824 $ — $ — $ 1,764,824 Assets segregated for regulatory purposes 36,199 36,199 — — 36,199 Securities purchased under agreements to resell 144,201 — 144,201 — 144,201 Held to maturity securities 862,280 — 785,380 — 785,380 Loans held for sale 154,637 — 104,811 59,791 164,602 Loans held for investment, net 8,086,055 — 361,587 7,709,254 8,070,841 Broker-dealer and clearing organization receivables 1,560,246 — 1,560,246 — 1,560,246 Other assets 79,197 — 77,531 1,666 79,197 Financial liabilities: Deposits 11,097,147 — 11,080,699 — 11,080,699 Broker-dealer and clearing organization payables 1,383,317 — 1,383,317 — 1,383,317 Short-term borrowings 1,572,794 — 1,572,794 — 1,572,794 Debt 376,410 — 363,111 — 363,111 Other liabilities 11,593 — 11,593 — 11,593 Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2022 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,580,162 $ 1,580,162 $ — $ — $ 1,580,162 Assets segregated for regulatory purposes 67,737 67,737 — — 67,737 Securities purchased under agreements to resell 118,070 — 118,070 — 118,070 Held to maturity securities 875,532 — 785,335 — 785,335 Loans held for sale 126,919 — 82,684 42,908 125,592 Loans held for investment, net 7,988,050 — 431,223 7,434,038 7,865,261 Broker-dealer and clearing organization receivables 1,038,055 — 1,038,055 — 1,038,055 Other assets 77,052 — 75,386 1,666 77,052 Financial liabilities: Deposits 11,315,749 — 11,295,153 — 11,295,153 Broker-dealer and clearing organization payables 966,470 — 966,470 — 966,470 Short-term borrowings 970,056 — 970,056 — 970,056 Debt 346,654 — 350,104 — 350,104 Other liabilities 5,410 — 5,410 — 5,410 The Company held equity investments other than securities of $51.6 million and $57.6 million at March 31, 2023 and December 31, 2022, respectively, which are included within other assets in the consolidated balance sheets. Of the $51.6 million of such equity investments held at March 31, 2023, $22.5 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, 2023 2022 Balance, beginning of period $ 27,264 $ 16,817 Additional investments — 11,000 Upward adjustments 243 214 Impairments and downward adjustments (5,000) (45) Balance, end of period $ 22,507 $ 27,986

Securities

Securities	3 Months Ended
Securities	Mar. 31, 2023
Securities
Securities	4. Securities The fair value of trading securities is summarized as follows (in thousands). March 31, December 31, 2023 2022 U.S. Treasury securities $ 15,512 $ 10,466 U.S. government agencies: Bonds 10,002 20,878 Residential mortgage-backed securities 226,542 214,100 Collateralized mortgage obligations 133,454 182,717 Corporate debt securities 55,172 42,685 States and political subdivisions 227,876 260,271 Private-label securitized product 21,008 9,265 Other 3,342 14,650 Totals $ 692,908 $ 755,032 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 $51.5 million and $53.0 million at March 31, 2023 and December 31, 2022, 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, 2023 Cost Gains Losses Fair Value U.S. Treasury securities $ 19,824 $ 3 $ (436) $ 19,391 U.S. government agencies: Bonds 206,681 252 (1,027) 205,906 Residential mortgage-backed securities 438,858 9 (43,486) 395,381 Commercial mortgage-backed securities 187,869 177 (9,260) 178,786 Collateralized mortgage obligations 865,642 106 (60,322) 805,426 States and political subdivisions 39,465 72 (2,856) 36,681 Totals $ 1,758,339 $ 619 $ (117,387) $ 1,641,571 Available for Sale Amortized Unrealized Unrealized December 31, 2022 Cost Gains Losses Fair Value U.S. Treasury securities $ 19,655 $ 3 $ (514) $ 19,144 U.S. government agencies: Bonds 202,834 323 (900) 202,257 Residential mortgage-backed securities 455,121 12 (48,775) 406,358 Commercial mortgage-backed securities 183,266 65 (7,832) 175,499 Collateralized mortgage obligations 887,521 — (68,627) 818,894 States and political subdivisions 40,160 57 (3,603) 36,614 Totals $ 1,788,557 $ 460 $ (130,251) $ 1,658,766 Held to Maturity Amortized Unrealized Unrealized March 31, 2023 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 295,889 $ — $ (25,852) $ 270,037 Commercial mortgage-backed securities 180,598 — (12,673) 167,925 Collateralized mortgage obligations 307,778 — (33,815) 273,963 States and political subdivisions 78,015 138 (4,698) 73,455 Totals $ 862,280 $ 138 $ (77,038) $ 785,380 Held to Maturity Amortized Unrealized Unrealized December 31, 2022 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 301,583 $ — $ (29,727) $ 271,856 Commercial mortgage-backed securities 180,942 — (14,935) 166,007 Collateralized mortgage obligations 314,705 — (38,343) 276,362 States and political subdivisions 78,302 26 (7,218) 71,110 Totals $ 875,532 $ 26 $ (90,223) $ 785,335 Additionally, the Company had unrealized net gains of $0.2 million and $0.1 million at March 31, 2023 and December 31, 2022, respectively, from equity securities with fair values of $0.2 million and $0.2 million held at March 31, 2023 and December 31, 2022, respectively. The Company recognized nominal net gains and losses during the three months ended March 31, 2023 and 2022, 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, 2023 and 2022, net gains and losses 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, 2023 December 31, 2022 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 — $ — $ — — $ — $ — Unrealized loss for twelve months or longer 1 4,545 436 1 4,465 514 1 4,545 436 1 4,465 514 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 24 154,851 630 15 98,246 388 Unrealized loss for twelve months or longer 3 14,399 397 3 15,263 512 27 169,250 1,027 18 113,509 900 Residential mortgage-backed securities: Unrealized loss for less than twelve months 45 72,808 2,500 95 168,351 10,036 Unrealized loss for twelve months or longer 79 320,641 40,986 30 236,739 38,739 124 393,449 43,486 125 405,090 48,775 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 7 38,978 1,274 11 79,337 2,047 Unrealized loss for twelve months or longer 12 130,372 7,986 8 86,923 5,785 19 169,350 9,260 19 166,260 7,832 Collateralized mortgage obligations: Unrealized loss for less than twelve months 38 213,056 7,030 97 563,872 30,980 Unrealized loss for twelve months or longer 104 566,274 53,292 48 244,917 37,647 142 779,330 60,322 145 808,789 68,627 States and political subdivisions: Unrealized loss for less than twelve months 26 11,251 84 34 20,555 964 Unrealized loss for twelve months or longer 33 16,226 2,772 29 7,892 2,639 59 27,477 2,856 63 28,447 3,603 Total available for sale: Unrealized loss for less than twelve months 140 490,944 11,518 252 930,361 44,415 Unrealized loss for twelve months or longer 232 1,052,457 105,869 119 596,199 85,836 372 $ 1,543,401 $ 117,387 371 $ 1,526,560 $ 130,251 March 31, 2023 December 31, 2022 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 — $ — $ — 14 $ 59,089 $ 5,928 Unrealized loss for twelve months or longer 45 270,038 25,852 31 212,768 23,799 45 270,038 25,852 45 271,857 29,727 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 3 10,788 311 30 163,172 14,483 Unrealized loss for twelve months or longer 28 157,137 12,362 1 2,834 452 31 167,925 12,673 31 166,006 14,935 Collateralized mortgage obligations: Unrealized loss for less than twelve months — — — 18 33,836 3,225 Unrealized loss for twelve months or longer 54 273,963 33,815 38 242,527 35,118 54 273,963 33,815 56 276,363 38,343 States and political subdivisions: Unrealized loss for less than twelve months 46 19,083 172 150 59,459 5,362 Unrealized loss for twelve months or longer 116 40,756 4,526 27 8,093 1,856 162 59,839 4,698 177 67,552 7,218 Total held to maturity: Unrealized loss for less than twelve months 49 29,871 483 212 315,556 28,998 Unrealized loss for twelve months or longer 243 741,894 76,555 97 466,222 61,225 292 $ 771,765 $ 77,038 309 $ 781,778 $ 90,223 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, 2023 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 $ 34,370 $ 34,227 $ 575 $ 573 Due after one year through five years 91,716 90,795 1,120 1,094 Due after five years through ten years 63,298 62,971 27,491 26,753 Due after ten years 76,586 73,985 48,829 45,035 265,970 261,978 78,015 73,455 Residential mortgage-backed securities 438,858 395,381 295,889 270,037 Commercial mortgage-backed securities 187,869 178,786 180,598 167,925 Collateralized mortgage obligations 865,642 805,426 307,778 273,963 $ 1,758,339 $ 1,641,571 $ 862,280 $ 785,380 The Company recognized net gains of $10.5 million and net losses of $11.5 million from its trading portfolio during the three months ended March 31, 2023 and 2022, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $32.6 million and $6.7 million during the three months ended March 31, 2023 and 2022, respectively. The Company had nominal other realized gains on securities during the three months ended March 31, 2022. 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 $710.6 million and $778.6 million (with a fair value of $666.5 million and $717.6 million, respectively) at March 31, 2023 and December 31, 2022, 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, 2023 and December 31, 2022. 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, 2023
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 real estate (including construction and land development), wholesale/retail trade, agribusiness and energy. 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, 2023 2022 Commercial real estate $ 3,209,879 $ 3,245,873 Commercial and industrial 1,709,314 1,639,980 Construction and land development 1,084,951 980,896 1-4 family residential 1,800,313 1,767,099 Consumer 26,802 27,602 Broker-dealer (1) 361,587 431,223 8,192,846 8,092,673 Allowance for credit losses (97,354) (95,442) Total loans held for investment, net of allowance $ 8,095,492 $ 7,997,231 (1) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations. Past Due Loans and Nonaccrual Loans An analysis of the aging of the Company’s loan portfolio is shown in the following tables (in thousands). Accruing Loans Loans Past Due Total Past Current Total Past Due March 31, 2023 30-59 Days 60-89 Days 90 Days or More Due Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 511 $ — $ 36 $ 547 $ 1,832,126 $ 1,832,673 $ — Owner occupied 49 179 — 228 1,376,978 1,377,206 — Commercial and industrial 9,261 103 5,404 14,768 1,694,546 1,709,314 49 Construction and land development 2,033 — — 2,033 1,082,918 1,084,951 — 1-4 family residential 7,958 1,273 3,052 12,283 1,788,030 1,800,313 1 Consumer 88 5 12 105 26,697 26,802 1 Broker-dealer — — — — 361,587 361,587 — $ 19,900 $ 1,560 $ 8,504 $ 29,964 $ 8,162,882 $ 8,192,846 $ 51 Accruing Loans Loans Past Due Total Past Current Total Past Due December 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 $ 567 $ — $ 235 $ 802 $ 1,869,750 $ 1,870,552 $ — Owner occupied 1,037 2,880 — 3,917 1,371,404 1,375,321 — Commercial and industrial 609 82 5,598 6,289 1,633,691 1,639,980 49 Construction and land development 3,665 — — 3,665 977,231 980,896 — 1-4 family residential 9,733 773 4,467 14,973 1,752,126 1,767,099 1 Consumer 177 7 14 198 27,404 27,602 1 Broker-dealer — — — — 431,223 431,223 — $ 15,788 $ 3,742 $ 10,314 $ 29,844 $ 8,062,829 $ 8,092,673 $ 51 In addition to the loans shown in the tables above, PrimeLending had $114.5 million and $92.0 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $114.8 million and $92.4 million, respectively) that were 90 days past due and accruing interest at March 31, 2023 and December 31, 2022, respectively. These loans are guaranteed by U.S. government agencies and include loans that are subject to repurchase, or have been repurchased, by PrimeLending. An analysis of the aging of the Company’s loan portfolio that have been modified during the three months ended March 31, 2023 is shown in the following table (in thousands). Modified Loans Past Due Total Modified March 31, 2023 30-59 Days 60-89 Days 90 Days or More Past Due Loans Commercial real estate: Non-owner occupied $ — $ — $ — $ — Owner occupied — — — — Commercial and industrial 941 — — 941 Construction and land development — — — — 1-4 family residential — — — — Consumer — — — — Broker-dealer — — — — Total $ 941 $ — $ — $ 941 The following table provides details associated with non-accrual loans, excluding those classified as held for sale (in thousands). Non-accrual Loans March 31, 2023 December 31, 2022 Interest Income Recognized With With No With With No Three Months Ended March 31, Allowance Allowance Total Allowance Allowance Total 2023 2022 Commercial real estate: Non-owner occupied $ 481 $ 557 $ 1,038 $ 688 $ 562 $ 1,250 $ 123 $ 97 Owner occupied 778 157 935 2,862 157 3,019 63 83 Commercial and industrial 3,217 7,590 10,807 3,727 5,368 9,095 131 188 Construction and land development 1 — 1 1 — 1 7 7 1-4 family residential 256 10,049 10,305 433 10,862 11,295 456 421 Consumer 12 — 12 14 — 14 — — Broker-dealer — — — — — — — — $ 4,745 $ 18,353 $ 23,098 $ 7,725 $ 16,949 $ 24,674 $ 780 $ 796 At March 31, 2023 and December 31, 2022, $4.3 million and $4.8 million, respectively, of real estate loans secured by residential properties and classified as held for sale were in non-accrual status. Loans accounted for on a non-accrual basis decreased from December 31, 2022 to March 31, 2023 by $1.6 million. The change in nonaccrual loans was primarily due to decreases in commercial real estate owner occupied loans of $2.1 million and 1-4 family residential loans of $1.0 million, partially offset by an increase in commercial and industrial loans of $1.7 million. The decrease in commercial real estate non-owner occupied loans in non-accrual status since December 31, 2022 was primarily due to the foreclosure of one office property in Texas. The increase in commercial and industrial loans was primarily due to the addition of one relationship with a loan balance of $2.7 million to non-accrual status since December 31, 2022, partially offset by principal paydowns. The Company considers non-accrual loans to be collateral-dependent unless there are underlying mitigating circumstances, such as expected cash flow recovery. The practical expedient to measure the allowance using the fair value of the collateral has been implemented. Loan Modifications As previously discussed, as of January 1, 2023, the Company adopted the new guidance which eliminated the recognition and measurement guidance on TDRs for creditors, and requires enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. 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. The following table presents the amortized cost basis of the loans held for investment modified for borrowers experiencing financial difficulty grouped by portfolio segment and type of modification granted (in thousands). Total Modifications as a Interest Rate Term Principal Payment % of Portfolio March 31, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 37,972 $ — $ — 2.1 % Owner occupied — 2,235 — — 0.2 % Commercial and industrial — 1,364 — 3,000 0.3 % Construction and land development — — — — — % 1-4 family residential — — — — — % Consumer — — — — — % Broker-Dealer — — — — — % Total $ — $ 41,571 $ — $ 3,000 0.5 % The following table presents the financial effects of the loans held for investment modified for borrowers experiencing financial difficulty (in thousands). Weighted-Average Term Extension March 31, 2023 (in months) Commercial real estate: Non-owner occupied 13 Owner occupied 35 Commercial and industrial 9 Construction and land development — 1-4 family residential — Consumer — Broker-Dealer — Total 14 Additionally, the Company granted temporary forbearance to borrowers of a federally backed mortgage loan experiencing financial hardship due, directly or indirectly, to the recent 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, 2023, PrimeLending had $64.6 million of loans subject to repurchase under a forbearance agreement related to delinquencies on or after April 1, 2020. Troubled Debt Restructurings 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. The Bank had no unadvanced commitments to borrowers whose loans had been restructured in TDRs at March 31, 2022. There were no TDRs granted during the twelve months preceding March 31, 2022 for which a payment was at least 30 days past due. Credit Risk Profile 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 2022 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 Loans 2018 and Converted to March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Term Loans Total Commercial real estate: non-owner occupied Internal Grade 1-3 (Pass low risk) $ — $ 47,642 $ 75,314 $ 10,093 $ 7,890 $ 10,963 $ 1 $ 200 $ 152,103 Internal Grade 4-7 (Pass normal risk) 25,972 336,202 339,596 111,670 84,880 77,875 48,790 — 1,024,985 Internal Grade 8-11 (Pass high risk and watch) 41,444 99,995 128,434 119,618 49,829 113,843 13,604 — 566,767 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) 41,518 19,129 14,670 1,614 10,137 712 — — 87,780 Internal Grade 14 (Substandard non-accrual) — — 389 — — 649 — — 1,038 Current period gross charge-offs — — — — — — — — — Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 10,678 $ 20,488 $ 83,177 $ 57,631 $ 15,774 $ 70,007 $ 4,354 $ — $ 262,109 Internal Grade 4-7 (Pass normal risk) 36,478 175,809 197,176 80,169 75,569 130,435 15,836 — 711,472 Internal Grade 8-11 (Pass high risk and watch) 13,992 91,490 66,280 90,680 24,731 74,694 7,160 — 369,027 Internal Grade 12 (Special mention) — — — — 1,783 — — — 1,783 Internal Grade 13 (Substandard accrual) 2,235 5,867 2,810 6,394 1,073 13,501 — — 31,880 Internal Grade 14 (Substandard non-accrual) — 173 672 — — 90 — — 935 Current period gross charge-offs — — — — — 977 — — 977 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 4,723 $ 35,177 $ 34,665 $ 22,229 $ 5,280 $ 2,982 $ 41,278 $ — $ 146,334 Internal Grade 4-7 (Pass normal risk) 30,825 109,777 141,241 43,917 25,449 15,788 323,388 265 690,650 Internal Grade 8-11 (Pass high risk and watch) 31,697 138,837 47,164 30,107 12,490 9,159 278,502 1,518 549,474 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) — 5,730 3,410 6,203 4,006 6,246 15,968 26,705 68,268 Internal Grade 14 (Substandard non-accrual) — 209 171 5,314 — 2,446 2,667 — 10,807 Current period gross charge-offs — 34 — — 25 — — — 59 Construction and land development Internal Grade 1-3 (Pass low risk) $ 512 $ 21,714 $ 7,725 $ 408 $ 850 $ 2,956 $ — $ — $ 34,165 Internal Grade 4-7 (Pass normal risk) 75,718 338,646 171,342 32,119 909 3,477 40,251 — 662,462 Internal Grade 8-11 (Pass high risk and watch) 55,352 233,869 38,942 14,303 2,426 1,238 15,546 — 361,676 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) — 2,059 — — — — — — 2,059 Internal Grade 14 (Substandard non-accrual) — — — — — — — — — Current period gross charge-offs — — — — — — — — — Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 1,263 2,466 — — — 957 — — 4,686 FICO greater than 720 5,306 14,048 122 53 — — — — 19,529 Substandard non-accrual — — — — — — — — — Other (1) (1) 375 — — — — — — 374 Current period gross charge-offs — — — — — — — — — 1-4 family residential FICO less than 620 $ — $ 1,475 $ 710 $ 768 $ 408 $ 24,602 $ 251 $ — $ 28,214 FICO between 620 and 720 1,006 20,158 13,144 8,313 4,959 30,446 1,214 — 79,240 FICO greater than 720 59,086 576,614 776,329 103,300 43,510 70,756 3,876 59 1,633,530 Substandard non-accrual — 542 — — — 9,763 — — 10,305 Other (1) 1,955 24,279 15,595 1,405 2,317 3,469 4 — 49,024 Current period gross charge-offs — — — — — 73 — — 73 Consumer FICO less than 620 $ 148 $ 1,101 $ 199 $ 100 $ 23 $ 6 $ 357 $ — $ 1,934 FICO between 620 and 720 1,836 2,868 778 451 287 52 1,940 6 8,218 FICO greater than 720 849 4,250 1,304 1,001 276 47 2,277 — 10,004 Substandard non-accrual — — — — — 12 — — 12 Other (1) 1,508 3,949 560 350 77 17 173 — 6,634 Current period gross charge-offs — 54 — 4 2 9 — — 69 Total loans with credit quality measures $ 444,100 $ 2,334,938 $ 2,161,919 $ 748,210 $ 374,933 $ 677,188 $ 817,437 $ 28,753 $ 7,587,478 Commercial and industrial (mortgage warehouse lending) $ 234,344 Commercial and industrial (loans accounted for at fair value) $ 9,437 Broker-Dealer (margin loans and correspondent receivables) $ 361,587 Total loans held for investment $ 8,192,846 (1) Loans classified in this category were assigned a FICO score for credit modeling purposes.

Allowance for Credit Losses

Allowance for Credit Losses	3 Months Ended
Allowance for Credit Losses	Mar. 31, 2023
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, 2023. In addition, as of March 31, 2023, 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. 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, 2023. While the Company believes it has an appropriate allowance for the existing loan portfolio at March 31, 2023, 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 changes in macroeconomic forecasts and loan cash flow assumptions. 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 2022 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, 2023, the Company utilized a single macroeconomic alternative scenario, or S7, published by Moody’s Analytics in March 2023 that was updated to reflect the U.S. economic outlook. This alternative economic scenario expects inflation persistently higher than the baseline scenario as uneven supply chain and labor market conditions continue from the conflict between Russia and Ukraine, consumer and business confidence declines due to recent bank failures and tighter lending standards, and still elevated interest rates contribute to a mild U.S recession during the fourth quarter of 2023 continuing into 2024. Federal Reserve monetary policy raises interest rates to a federal funds rate target of 5% to 5.25% by the third quarter of 2023. 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. 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 reserve 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 noted period were primarily attributable to the Bank and also reflected other factors including, but not limited to, loan mix, and changes in loan balances and qualitative factors from the prior quarter. The changes in the allowance during the three months ended March 31, 2022 was also impacted by net charge-offs of $0.3 million. During the three months ended March 31, 2023, the provision for credit losses reflected a build in the allowance related to loan portfolio changes since the prior quarter, offset by an updated economic outlook with a mild U.S. recession from fourth quarter of 2023 and recovery from the third quarter of 2024 compared to prior quarter’s U.S. recession assumption during the last three quarters of 2023. The net impact to the allowance of changes associated with individually and collectively evaluated loans during the three months ended March 31, 2023 included a provision for credit losses on individually evaluated loans of $0.7 million attributable to the broker-dealer loan portfolio and a provision for credit losses on collectively evaluated loans at the Bank of $1.5 million due to recent updates in internal risk ratings, growth in funded loan balances and renewals during the quarter. The changes in the allowance during the three months ended March 31, 2023 were also impacted by net charge-offs of $0.4 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, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,255 $ (768) $ (977) $ 11 $ 61,521 Commercial and industrial 16,035 (53) (59) 692 16,615 Construction and land development 6,051 (52) — — 5,999 1-4 family residential 9,313 2,434 (73) 17 11,691 Consumer 554 39 (69) 39 563 Broker-dealer 234 731 — — 965 Total $ 95,442 $ 2,331 $ (1,178) $ 759 $ 97,354 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 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, 2023 2022 Balance, beginning of period $ 7,784 $ 5,880 Other noninterest expense (979) 607 Balance, end of period $ 6,805 $ 6,487 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. During the three months ended March 31, 2023, the decrease in the reserve for unfunded commitments was primarily due to decreases in both available commitment balances and expected loss rates.

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
Mortgage Servicing Rights	Mar. 31, 2023
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, 2023 2022 Balance, beginning of period $ 100,825 $ 86,990 Additions 13,210 7,301 Sales — (1,876) Changes in fair value: Due to changes in model inputs or assumptions (1) (9,865) 10,856 Due to customer payoffs (856) (2,796) Balance, end of period $ 103,314 $ 100,475 March 31, December 31, 2023 2022 Mortgage loans serviced for others (2) $ 5,739,393 $ 5,144,558 MSR asset as a percentage of serviced mortgage loans 1.80 % 1.96 % (1) Primarily represents normal customer payments, the impact of changes in interest rates, changes in discount rates and prepayment speed assumptions, and the refinement of other MSR model assumptions. (2) Represents unpaid principal balance of mortgage loans serviced for others. The key assumptions used in measuring the fair value of the Company’s MSR asset were as follows. March 31, December 31, 2023 2022 Weighted average constant prepayment rate 9.08 % 8.14 % Weighted average discount rate 12.08 % 12.10 % Weighted average life (in years) 7.9 8.4 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, 2023 2022 Constant prepayment rate: Impact of 10% adverse change $ (3,738) $ (3,288) Impact of 20% adverse change (7,228) (6,375) Discount rate: Impact of 10% adverse change (4,680) (4,797) Impact of 20% adverse change (8,938) (9,147) 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 $7.4 million and $8.5 million during the three months ended March 31, 2023 and 2022, 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, 2023
Deposits
Deposits	8. Deposits Deposits are summarized as follows (in thousands). March 31, December 31, 2023 2022 Noninterest-bearing demand $ 3,807,878 $ 3,968,862 Interest-bearing: Demand accounts 4,549,867 4,110,418 Brokered - demand 4,979 5,336 Money market 1,517,513 2,045,554 Brokered - money market 9,416 9,031 Savings 298,797 312,140 Time 908,697 864,408 $ 11,097,147 $ 11,315,749 At March 31, 2023, remaining maturities of estimated uninsured time deposits greater than $250,000 were $408.4 million.

Short-term Borrowings

Short-term Borrowings	3 Months Ended
Short-term Borrowings	Mar. 31, 2023
Short-term Borrowings
Short-term Borrowings	9. Short-term Borrowings Short-term borrowings are summarized as follows (in thousands). March 31, December 31, 2023 2022 Federal funds purchased $ 448,158 $ 397,108 Securities sold under agreements to repurchase 363,478 297,856 Federal Home Loan Bank 450,000 — Short-term bank loans 84,000 57,500 Commercial paper 227,158 217,592 $ 1,572,794 $ 970,056 Federal Funds Purchased and Securities Sold under Agreements to Repurchase Federal funds purchased and securities sold under agreements to repurchase generally mature one 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, 2023 2022 Average balance during the period $ 706,400 $ 429,000 Average interest rate during the period 4.81 % 0.34 % March 31, December 31, 2023 2022 Average interest rate at end of period 4.99 % 4.37 % Securities underlying the agreements at end of period: Carrying value $ 363,580 $ 296,075 Estimated fair value $ 391,040 $ 318,409 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. Other information regarding FHLB short-term borrowings is shown in the following table (dollars in thousands). Three Months Ended March 31, 2023 2022 Average balance during the period $ 146,667 $ — Average interest rate during the period 5.02 % — % 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 borrowings at March 31, 2023 was 6.00%. 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, 2023, the weighted average maturity of the CP Notes was 137 days at a rate of 5.57%, with a weighted average remaining life of 73 days. At March 31, 2023, the aggregate amount outstanding under these secured arrangements was $227.2 million, which was collateralized by securities held for Hilltop Securities accounts valued at $249.1 million.

Notes Payable

Notes Payable	3 Months Ended
Notes Payable	Mar. 31, 2023
Notes Payable
Notes Payable	10. Notes Payable Notes payable consisted of the following (in thousands). March 31, December 31, 2023 2022 Senior Notes due April 2025, net of discount of $651 and $699, respectively $ 149,349 $ 149,301 Subordinated Notes due May 2030, net of discount of $586 and $610, respectively 49,414 49,390 Subordinated Notes due May 2035, net of discount of $1,990 and $2,037, respectively 148,011 147,963 Ventures Management lines of credit 29,636 — $ 376,410 $ 346,654

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases
Leases	11. Leases Supplemental balance sheet information related to finance leases is as follows (in thousands). March 31, December 31, 2023 2022 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (6,095) (5,948) Premises and equipment, net $ 1,685 $ 1,832 The components of lease costs, including short-term lease costs, are as follows (in thousands). Three Months Ended March 31, 2023 2022 Operating lease cost $ 8,729 $ 9,606 Less operating lease and sublease income (633) (569) Net operating lease cost $ 8,096 $ 9,037 Finance lease cost: Amortization of ROU assets $ 147 $ 147 Interest on lease liabilities 112 124 Total finance lease cost $ 259 $ 271 Supplemental cash flow information related to leases is as follows (in thousands). Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,024 $ 9,767 Operating cash flows from finance leases 113 125 Financing cash flows from finance leases 199 184 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 4,924 $ 1,276 Finance leases — — Information regarding the lease terms and discount rates of the Company’s leases is as follows. March 31, 2023 December 31, 2022 Weighted Average Weighted Average Remaining Lease Weighted Average Remaining Lease Weighted Average Lease Classification Term (Years) Discount Rate Term (Years) Discount Rate Operating 5.5 4.05 % 5.7 3.89 % Finance 3.8 4.91 % 4.0 4.89 % Future minimum lease payments under lease agreements as of March 31, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 26,160 $ 968 2024 28,588 1,163 2025 21,979 886 2026 17,116 813 2027 13,593 448 Thereafter 29,336 149 Total minimum lease payments 136,772 4,427 Less amount representing interest (13,894) (1,222) Lease liabilities $ 122,878 $ 3,205 As of March 31, 2023, the Company had an additional operating lease that has not yet commenced with aggregate future minimum lease payments of approximately $0.1 million. This operating lease commenced in April 2023 with a lease term of three years.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2023
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 11.6% and 19.4% for the three months ended March 31, 2023 and 2022, 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. During the three months ended March 31, 2023, the effective tax rate was lower than the applicable statutory rate primarily due to the impacts of excess tax benefits on share-based payment awards, investments in tax-exempt instruments and changes in accumulated tax reserves, partially offset by nondeductible expenses.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
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. On June 8, 2022, WR Investments, LP (“WR”) filed claims against Hilltop Securities, et al. through FINRA Dispute Resolution, Midwest Region. WR alleges it suffered a $13.0 million loss in its sale of subordinated bonds related to a portfolio of senior living facilities sold by an affiliate of WR. Hilltop Securities believes the claims are without merit and intends to vigorously defend against such claims. There can be no assurance, however, that Hilltop Securities will be successful. At present, Hilltop Securities is unable to estimate the probability or amount of potential losses, if any, related to these claims. In September 2020, PrimeLending received an investigative inquiry from the United States Attorney for the Western District of Virginia regarding PrimeLending’s float down option. The United States Attorney has issued grand jury subpoenas to PrimeLending and PlainsCapital Bank for additional materials regarding this matter. PrimeLending has, and PrimeLending and PlainsCapital Bank will, cooperate with requests for information with respect to this matter. While the final outcome of litigation and claims exposures or of any Inquiries is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation and inquiries will not, except related to specific matters disclosed above, have a material effect on the Company’s business, consolidated financial position, results of operations or cash flows as a whole. However, in the event of unexpected future developments, it is reasonably possible that an adverse outcome in any matter, including the matters discussed above, could be material to the Company’s business, consolidated financial position, results of operations or cash flows for any particular reporting period of occurrence. Indemnification Liability Reserve The mortgage origination segment may be responsible to agencies, investors, or other parties for errors or omissions relating to its representations and warranties that each loan sold meets certain requirements, including representations as to underwriting standards and the validity of certain borrower representations in connection with the loan. If determined to be at fault, the mortgage origination segment either repurchases the affected loan from or indemnifies the claimant against loss. The mortgage origination segment has established an indemnification liability reserve for such probable losses. Generally, the mortgage origination segment first becomes aware that an agency, investor, or other party believes a loss has been incurred on a sold loan when it receives a written request from the claimant to repurchase the loan or reimburse the claimant’s losses. Upon completing its review of the claimant’s request, the mortgage origination segment establishes a specific claims reserve for the loan if it concludes its obligation to the claimant is both probable and reasonably estimable. An additional reserve has been established for probable agency, investor or other party losses that may have been incurred, but not yet reported to the mortgage origination segment based upon a reasonable estimate of such losses. Factors considered in the calculation of this reserve include, but are not limited to, the total volume of loans sold exclusive of specific claimant requests, actual claim settlements and the severity of estimated losses resulting from future claims, and the mortgage origination segment’s history of successfully curing defects identified in claim requests. While the mortgage origination segment’s sales contracts typically include borrower early payment default repurchase provisions, these provisions have not been a primary driver of claims to date, and therefore, are not a primary factor considered in the calculation of this reserve. At March 31, 2023 and December 31, 2022, the mortgage origination segment’s indemnification liability reserve totaled $18.3 million and $20.5 million, respectively. The provision for indemnification losses was $0.3 million and $0.5 million during the three months ended March 31, 2023 and 2022, 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, 2023 2022 Balance, beginning of period $ 31,244 $ 31,407 Claims made 14,415 9,842 Claims resolved with no payment (5,548) (4,521) Repurchases (9,908) (6,457) Indemnification payments (3,006) — Balance, end of period $ 27,197 $ 30,271 Indemnification Liability Reserve Activity Three Months Ended March 31, 2023 2022 Balance, beginning of period $ 20,528 $ 27,424 Additions for new sales 347 753 Repurchases (2,360) (565) Early payment defaults (98) (71) Indemnification payments (147) — Change in reserves for loans sold in prior years — (291) Balance, end of period $ 18,270 $ 27,250 March 31, December 31, 2023 2022 Reserve for Indemnification Liability: Specific claims $ 530 $ 627 Incurred but not reported claims 17,740 19,901 Total $ 18,270 $ 20,528 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, 2023
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 $2.4 billion at March 31, 2023 and outstanding financial and performance standby letters of credit of $72.0 million at March 31, 2023. 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, 2023
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, 2023 and 2022, Hilltop granted 5,101 and 5,064 shares of common stock, respectively, pursuant to the 2020 Equity Plan to certain non-employee members of the Company’s board of directors for services rendered to the Company. Restricted Stock Units The following table summarizes information about nonvested restricted stock unit (“RSU”) activity for the three months ended March 31, 2023 (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2022 1,548 $ 28.09 Granted 476 $ 34.39 Vested/Released (578) $ 21.72 Forfeited - $ - Balance, March 31, 2023 1,446 $ 32.65 Vested/Released RSUs include an aggregate of 99,176 shares withheld to satisfy employee statutory tax obligations during the three months ended March 31, 2023. During the three months ended March 31, 2023, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 383,692 RSUs pursuant to the 2020 Equity Plan. Of the RSUs granted during the three months ended March 31, 2023, 295,619 that were outstanding at March 31, 2023, 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, 2023, 88,073 that were outstanding at March 31, 2023 At March 31, 2023, in the aggregate, 1,071,584 of the outstanding RSUs are subject to time-based vesting conditions and generally cliff vest on the third anniversary of the grant date, and 374,299 outstanding RSUs cliff vest based upon the achievement of certain performance goals over a three-year period. At March 31, 2023

Regulatory Matters

Regulatory Matters	3 Months Ended
Regulatory Matters	Mar. 31, 2023
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, 2023 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, 2023 December 31, 2022 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,418,348 10.69 % $ 1,405,164 10.26 % 4.0 % 5.0 % Hilltop 1,910,810 11.82 % 1,900,701 11.47 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,418,348 14.97 % 1,405,164 14.98 % 7.0 % 6.5 % Hilltop 1,910,810 17.99 % 1,900,701 18.23 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,418,348 14.97 % 1,405,164 14.98 % 8.5 % 8.0 % Hilltop 1,910,810 17.99 % 1,900,701 18.23 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,511,156 15.94 % 1,492,576 15.91 % 10.5 % 10.0 % Hilltop 2,204,120 20.75 % 2,187,652 20.98 % 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, 2023, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). Momentum Hilltop Independent Securities Network Net capital $ 271,196 $ 4,302 Less: required net capital 8,665 256 Excess net capital $ 262,531 $ 4,046 Net capital as a percentage of aggregate debit items 62.6 % Net capital in excess of 5% aggregate debit items $ 249,533 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, 2023 and December 31, 2022, the Hilltop Broker-Dealers held cash of $36.2 million and $67.7 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, 2023. 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, 2023, 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, 2023
Stockholders' Equity
Stockholders' Equity	17. Stockholders’ Equity Dividends During the three months ended March 31, 2023 and 2022, the Company declared and paid cash dividends of $0.16 and $0.15 per common share, or an aggregate of $10.4 million and $11.8 million, respectively. On April 20, 2023, Hilltop’s board of directors declared a quarterly cash dividend of $0.16 per common share, payable on May 25, 2023, to all common stockholders of record as of the close of business on May 10, 2023. Stock Repurchases In January 2023, the Hilltop board of directors authorized a new stock repurchase program through January 2024, pursuant to which the Company is authorized to repurchase, in the aggregate, up to $75.0 million of our outstanding common stock, inclusive of repurchases to offset dilution related to grants of stock-based compensation. During the three months ended March 31, 2023, Hilltop paid $4.5 million to repurchase an aggregate of 144,403 shares of our common stock at an average price of $31.15 per share pursuant to the stock repurchase program. The Company’s stock repurchase program, prior year repurchases and related accounting policy are discussed in detail in Note 1 and Note 23 to the consolidated financial statements included in the Company’s 2022 Form 10-K.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Mar. 31, 2023
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 futures contracts. 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, futures contracts, credit default swaps and municipal market data (“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, 2023 2022 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 4,897 $ 22,052 Hilltop Broker-Dealers (21,180) (1,327) Bank (12) 29 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 portfolio layer, 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, 2023 December 31, 2022 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 772,675 $ 12,481 $ 506,278 $ 1,767 Commitments to purchase MBSs 1,163,144 5,313 819,681 2,435 Commitments to sell MBSs 2,556,958 (22,272) 2,188,964 10,711 Interest rate swaps 39,251 (2,201) 35,784 (1,421) U.S. Treasury bond futures and options (1) 334,200 5,205 395,500 (449) Interest rate and other futures (1) 1,663,200 — 2,612,000 — Credit default swaps 2,000 (9) 3,000 (2) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 430,000 $ 17,448 $ 430,000 $ 21,703 Interest rate swaps designated as fair value hedges (2) 325,323 34,764 365,323 42,828 (1) Noted derivative instruments include contracts between the Hilltop Broker-Dealers and counterparties with changes in fair value of the contracts that are settled daily. (2) The Company designated $325.3 million and $365.3 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 $290.6 million and $322.5 million as of March 31, 2023 and December 31, 2022, respectively), of which, a subset of these hedges are in portfolio layer hedging relationships. The cumulative basis adjustment included in the carrying value of the hedged items totaled $34.8 million and $42.8 million as of March 31, 2023 and December 31, 2022, respectively. The Bank and PrimeLending held cash collateral advances, in other liabilities within the consolidated balance sheets, of $55.0 million and $65.0 million to offset net asset derivative positions on its commitments to sell MBSs and derivative instruments designated as hedges at March 31, 2023 and December, 31, 2022, respectively. PrimeLending had advanced cash collateral totaling $2.7 million and $8.4 million to offset net liability positions on its commitments to sell MBSs at March 31, 2023 and December 31, 2022, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers had advanced cash collateral totaling $5.6 million and $10.6 million on various derivative instruments at March 31, 2023 and December 31, 2022, 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, 2023
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, 2023 Securities borrowed: Institutional counterparties $ 1,416,426 $ — $ 1,416,426 $ (1,379,628) $ — $ 36,798 Interest rate swaps: Institutional counterparties 52,349 (133) 52,216 — (54,970) (2,754) Reverse repurchase agreements: Institutional counterparties 144,201 — 144,201 (143,687) — 514 Forward MBS derivatives: Institutional counterparties 5,315 — 5,315 (5,315) — — Treasury futures and options derivatives: Institutional counterparties 5,474 (269) 5,205 — 115 5,320 $ 1,623,765 $ (402) $ 1,623,363 $ (1,528,630) $ (54,855) $ 39,878 December 31, 2022 Securities borrowed: Institutional counterparties $ 1,012,573 $ — $ 1,012,573 $ (964,517) $ — $ 48,056 Interest rate swaps: Institutional counterparties 64,729 — 64,729 — (64,630) 99 Reverse repurchase agreements: Institutional counterparties 118,070 — 118,070 (115,302) — 2,768 Forward MBS derivatives: Institutional counterparties 16,694 (3,410) 13,284 (9,957) — 3,327 Treasury futures and options derivatives: Institutional counterparties 57 (506) (449) — — (449) $ 1,212,123 $ (3,916) $ 1,208,207 $ (1,089,776) $ (64,630) $ 53,801 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, 2023 Securities loaned: Institutional counterparties $ 1,303,657 $ — $ 1,303,657 $ (1,269,221) $ — $ 34,436 Interest rate swaps: Institutional counterparties 2,205 — 2,205 (2,205) — — Credit default swaps: Institutional counterparties 9 — 9 (9) — — Repurchase agreements: Institutional counterparties 362,327 — 362,327 (362,327) — — Forward MBS derivatives: Institutional counterparties 23,146 (872) 22,274 (14,131) (2,678) 5,465 $ 1,691,344 $ (872) $ 1,690,472 $ (1,647,893) $ (2,678) $ 39,901 December 31, 2022 Securities loaned: Institutional counterparties $ 916,570 $ — $ 916,570 $ (871,037) $ — $ 45,533 Interest rate swaps: Institutional counterparties 1,619 — 1,619 (1,438) — 181 Credit default swaps: Institutional counterparties 2 — 2 (2) — — Repurchase agreements: Institutional counterparties 296,978 — 296,978 (319,897) — (22,919) Forward MBS derivatives: Institutional counterparties 138 — 138 (138) — — $ 1,215,307 $ — $ 1,215,307 $ (1,192,512) $ — $ 22,795 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, 2023 and December 31, 2022. Remaining Contractual Maturities Overnight and Greater Than March 31, 2023 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities 249,330 — 112,997 — 362,327 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,303,544 — — — 1,303,544 Total $ 1,552,987 $ — $ 112,997 $ — $ 1,665,984 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,665,984 Amount related to agreements not included in offsetting disclosure above $ — Remaining Contractual Maturities Overnight and Greater Than December 31, 2022 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities $ 130,616 $ 2,539 $ 141,461 $ 22,362 $ 296,978 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 916,457 — — — 916,457 Total $ 1,047,186 $ 2,539 $ 141,461 $ 22,362 $ 1,213,548 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,213,548 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, 2023
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, 2023 2022 Receivables: Securities borrowed $ 1,416,426 $ 1,012,573 Securities failed to deliver 54,698 11,350 Trades in process of settlement 76,886 3,476 Other 12,236 10,656 $ 1,560,246 $ 1,038,055 Payables: Securities loaned $ 1,303,657 $ 916,570 Correspondents 21,693 22,760 Securities failed to receive 51,284 20,167 Other 6,683 6,973 $ 1,383,317 $ 966,470

Segment and Related Information

Segment and Related Information	3 Months Ended
Segment and Related Information	Mar. 31, 2023
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, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 104,770 $ 13,863 $ (4,208) $ (3,322) $ 10,602 $ 121,705 Provision for (reversal of) credit losses 1,600 731 — — — 2,331 Noninterest income 11,190 90,635 68,829 2,704 (10,864) 162,494 Noninterest expense 56,127 90,345 88,753 15,513 (268) 250,470 Income (loss) before taxes $ 58,233 $ 13,422 $ (24,132) $ (16,131) $ 6 $ 31,398 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 Banking Broker-Dealer Origination Corporate Eliminations Consolidated March 31, 2023 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,694,346 $ 3,067,104 $ 1,304,450 $ 2,476,627 $ (3,513,440) $ 17,029,087 December 31, 2022 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,420,110 $ 2,672,709 $ 1,249,284 $ 2,465,513 $ (3,548,334) $ 16,259,282

Earnings per Common Share

Earnings per Common Share	3 Months Ended
Earnings per Common Share	Mar. 31, 2023
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, 2023 2022 Basic earnings per share: Income attributable to Hilltop $ 25,800 $ 22,250 Weighted average shares outstanding - basic 64,901 79,114 Basic earnings per common share: $ 0.40 $ 0.28 Diluted earnings per share: Income attributable to Hilltop $ 25,800 $ 22,250 Weighted average shares outstanding - basic 64,901 79,114 Effect of potentially dilutive securities 53 242 Weighted average shares outstanding - diluted 64,954 79,356 Diluted earnings per common share: $ 0.40 $ 0.28

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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.
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 (“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, 2022 (“2022 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 a controlling 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. 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 18 to the consolidated financial statements included in the Company’s 2022 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 2022 Form 10-K.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2023
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, 2023 Inputs Inputs Inputs Fair Value Trading securities $ 15,516 $ 677,392 $ — $ 692,908 Available for sale securities — 1,641,571 — 1,641,571 Equity securities 231 — — 231 Loans held for sale — 851,508 33,993 885,501 Loans held for investment — — 9,437 9,437 Derivative assets — 82,020 — 82,020 MSR asset — — 103,314 103,314 Securities sold, not yet purchased 16,736 34,761 — 51,497 Derivative liabilities — 31,291 — 31,291 Level 1 Level 2 Level 3 Total December 31, 2022 Inputs Inputs Inputs Fair Value Trading securities $ 15,456 $ 739,576 $ — $ 755,032 Available for sale securities — 1,658,766 — 1,658,766 Equity securities 200 — — 200 Loans held for sale — 814,990 40,707 855,697 Loans held for investment — — 9,181 9,181 Derivative assets — 88,977 — 88,977 MSR asset — — 100,825 100,825 Securities sold, not yet purchased 25,506 27,517 — 53,023 Derivative liabilities — 11,405 — 11,405
Rollforward for financial instruments measured at fair value using Level 3 inputs	The following tables include a rollforward for those material 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, 2023 Loans held for sale $ 40,707 $ 16,796 $ (23,454) $ (446) $ 390 $ — $ 33,993 Loans held for investment 9,181 — — — 256 — 9,437 MSR asset 100,825 13,210 — — (10,721) — 103,314 Total $ 150,713 $ 30,006 $ (23,454) $ (446) $ (10,075) $ — $ 146,744 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
Schedule of significant unobservable inputs used in the fair value measurements	Range (Weighted-Average) Financial instrument Valuation Technique Unobservable Inputs March 31, 2023 December 31, 2022 Loans held for sale Market comparable Projected price 86 - 94 % ( 88 %) 88 - 95 % ( 89 %) Loans held for investment Discounted cash flow Discount rate 11.50 % 11.88 % MSR asset Discounted cash flow Constant prepayment rate 9.08 % 8.14 % Discount rate 12.08 % 12.10 %
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 material instruments recognized in the consolidated statements of operations that are accounted for under the Fair Value Option (in thousands). Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 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 $ 10,134 $ — $ 10,134 $ (50,855) $ — $ (50,855) Loans held for investment — — — — — — MSR asset (10,721) — (10,721) 8,060 — 8,060
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, 2023 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,764,824 $ 1,764,824 $ — $ — $ 1,764,824 Assets segregated for regulatory purposes 36,199 36,199 — — 36,199 Securities purchased under agreements to resell 144,201 — 144,201 — 144,201 Held to maturity securities 862,280 — 785,380 — 785,380 Loans held for sale 154,637 — 104,811 59,791 164,602 Loans held for investment, net 8,086,055 — 361,587 7,709,254 8,070,841 Broker-dealer and clearing organization receivables 1,560,246 — 1,560,246 — 1,560,246 Other assets 79,197 — 77,531 1,666 79,197 Financial liabilities: Deposits 11,097,147 — 11,080,699 — 11,080,699 Broker-dealer and clearing organization payables 1,383,317 — 1,383,317 — 1,383,317 Short-term borrowings 1,572,794 — 1,572,794 — 1,572,794 Debt 376,410 — 363,111 — 363,111 Other liabilities 11,593 — 11,593 — 11,593 Estimated Fair Value Carrying Level 1 Level 2 Level 3 December 31, 2022 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,580,162 $ 1,580,162 $ — $ — $ 1,580,162 Assets segregated for regulatory purposes 67,737 67,737 — — 67,737 Securities purchased under agreements to resell 118,070 — 118,070 — 118,070 Held to maturity securities 875,532 — 785,335 — 785,335 Loans held for sale 126,919 — 82,684 42,908 125,592 Loans held for investment, net 7,988,050 — 431,223 7,434,038 7,865,261 Broker-dealer and clearing organization receivables 1,038,055 — 1,038,055 — 1,038,055 Other assets 77,052 — 75,386 1,666 77,052 Financial liabilities: Deposits 11,315,749 — 11,295,153 — 11,295,153 Broker-dealer and clearing organization payables 966,470 — 966,470 — 966,470 Short-term borrowings 970,056 — 970,056 — 970,056 Debt 346,654 — 350,104 — 350,104 Other liabilities 5,410 — 5,410 — 5,410
Schedule of adjustments to the carrying value of these investments	Three Months Ended March 31, 2023 2022 Balance, beginning of period $ 27,264 $ 16,817 Additional investments — 11,000 Upward adjustments 243 214 Impairments and downward adjustments (5,000) (45) Balance, end of period $ 22,507 $ 27,986

Securities (Tables)

Securities (Tables)	3 Months Ended
Securities (Tables)	Mar. 31, 2023
Securities
Summary of trading securities	The fair value of trading securities is summarized as follows (in thousands). March 31, December 31, 2023 2022 U.S. Treasury securities $ 15,512 $ 10,466 U.S. government agencies: Bonds 10,002 20,878 Residential mortgage-backed securities 226,542 214,100 Collateralized mortgage obligations 133,454 182,717 Corporate debt securities 55,172 42,685 States and political subdivisions 227,876 260,271 Private-label securitized product 21,008 9,265 Other 3,342 14,650 Totals $ 692,908 $ 755,032
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, 2023 Cost Gains Losses Fair Value U.S. Treasury securities $ 19,824 $ 3 $ (436) $ 19,391 U.S. government agencies: Bonds 206,681 252 (1,027) 205,906 Residential mortgage-backed securities 438,858 9 (43,486) 395,381 Commercial mortgage-backed securities 187,869 177 (9,260) 178,786 Collateralized mortgage obligations 865,642 106 (60,322) 805,426 States and political subdivisions 39,465 72 (2,856) 36,681 Totals $ 1,758,339 $ 619 $ (117,387) $ 1,641,571 Available for Sale Amortized Unrealized Unrealized December 31, 2022 Cost Gains Losses Fair Value U.S. Treasury securities $ 19,655 $ 3 $ (514) $ 19,144 U.S. government agencies: Bonds 202,834 323 (900) 202,257 Residential mortgage-backed securities 455,121 12 (48,775) 406,358 Commercial mortgage-backed securities 183,266 65 (7,832) 175,499 Collateralized mortgage obligations 887,521 — (68,627) 818,894 States and political subdivisions 40,160 57 (3,603) 36,614 Totals $ 1,788,557 $ 460 $ (130,251) $ 1,658,766
Summary of amortized cost and fair value of held to maturity securities	Held to Maturity Amortized Unrealized Unrealized March 31, 2023 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 295,889 $ — $ (25,852) $ 270,037 Commercial mortgage-backed securities 180,598 — (12,673) 167,925 Collateralized mortgage obligations 307,778 — (33,815) 273,963 States and political subdivisions 78,015 138 (4,698) 73,455 Totals $ 862,280 $ 138 $ (77,038) $ 785,380 Held to Maturity Amortized Unrealized Unrealized December 31, 2022 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 301,583 $ — $ (29,727) $ 271,856 Commercial mortgage-backed securities 180,942 — (14,935) 166,007 Collateralized mortgage obligations 314,705 — (38,343) 276,362 States and political subdivisions 78,302 26 (7,218) 71,110 Totals $ 875,532 $ 26 $ (90,223) $ 785,335
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, 2023 December 31, 2022 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 — $ — $ — — $ — $ — Unrealized loss for twelve months or longer 1 4,545 436 1 4,465 514 1 4,545 436 1 4,465 514 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 24 154,851 630 15 98,246 388 Unrealized loss for twelve months or longer 3 14,399 397 3 15,263 512 27 169,250 1,027 18 113,509 900 Residential mortgage-backed securities: Unrealized loss for less than twelve months 45 72,808 2,500 95 168,351 10,036 Unrealized loss for twelve months or longer 79 320,641 40,986 30 236,739 38,739 124 393,449 43,486 125 405,090 48,775 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 7 38,978 1,274 11 79,337 2,047 Unrealized loss for twelve months or longer 12 130,372 7,986 8 86,923 5,785 19 169,350 9,260 19 166,260 7,832 Collateralized mortgage obligations: Unrealized loss for less than twelve months 38 213,056 7,030 97 563,872 30,980 Unrealized loss for twelve months or longer 104 566,274 53,292 48 244,917 37,647 142 779,330 60,322 145 808,789 68,627 States and political subdivisions: Unrealized loss for less than twelve months 26 11,251 84 34 20,555 964 Unrealized loss for twelve months or longer 33 16,226 2,772 29 7,892 2,639 59 27,477 2,856 63 28,447 3,603 Total available for sale: Unrealized loss for less than twelve months 140 490,944 11,518 252 930,361 44,415 Unrealized loss for twelve months or longer 232 1,052,457 105,869 119 596,199 85,836 372 $ 1,543,401 $ 117,387 371 $ 1,526,560 $ 130,251
Schedule of information regarding held to maturity securities that were in an unrealized loss position	March 31, 2023 December 31, 2022 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 — $ — $ — 14 $ 59,089 $ 5,928 Unrealized loss for twelve months or longer 45 270,038 25,852 31 212,768 23,799 45 270,038 25,852 45 271,857 29,727 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 3 10,788 311 30 163,172 14,483 Unrealized loss for twelve months or longer 28 157,137 12,362 1 2,834 452 31 167,925 12,673 31 166,006 14,935 Collateralized mortgage obligations: Unrealized loss for less than twelve months — — — 18 33,836 3,225 Unrealized loss for twelve months or longer 54 273,963 33,815 38 242,527 35,118 54 273,963 33,815 56 276,363 38,343 States and political subdivisions: Unrealized loss for less than twelve months 46 19,083 172 150 59,459 5,362 Unrealized loss for twelve months or longer 116 40,756 4,526 27 8,093 1,856 162 59,839 4,698 177 67,552 7,218 Total held to maturity: Unrealized loss for less than twelve months 49 29,871 483 212 315,556 28,998 Unrealized loss for twelve months or longer 243 741,894 76,555 97 466,222 61,225 292 $ 771,765 $ 77,038 309 $ 781,778 $ 90,223
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, 2023 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 $ 34,370 $ 34,227 $ 575 $ 573 Due after one year through five years 91,716 90,795 1,120 1,094 Due after five years through ten years 63,298 62,971 27,491 26,753 Due after ten years 76,586 73,985 48,829 45,035 265,970 261,978 78,015 73,455 Residential mortgage-backed securities 438,858 395,381 295,889 270,037 Commercial mortgage-backed securities 187,869 178,786 180,598 167,925 Collateralized mortgage obligations 865,642 805,426 307,778 273,963 $ 1,758,339 $ 1,641,571 $ 862,280 $ 785,380

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	3 Months Ended
Loans Held for Investment (Tables)	Mar. 31, 2023
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, 2023 2022 Commercial real estate $ 3,209,879 $ 3,245,873 Commercial and industrial 1,709,314 1,639,980 Construction and land development 1,084,951 980,896 1-4 family residential 1,800,313 1,767,099 Consumer 26,802 27,602 Broker-dealer (1) 361,587 431,223 8,192,846 8,092,673 Allowance for credit losses (97,354) (95,442) Total loans held for investment, net of allowance $ 8,095,492 $ 7,997,231 (1) Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations.
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 Total Past Current Total Past Due March 31, 2023 30-59 Days 60-89 Days 90 Days or More Due Loans Loans Loans 90 Days or More Commercial real estate: Non-owner occupied $ 511 $ — $ 36 $ 547 $ 1,832,126 $ 1,832,673 $ — Owner occupied 49 179 — 228 1,376,978 1,377,206 — Commercial and industrial 9,261 103 5,404 14,768 1,694,546 1,709,314 49 Construction and land development 2,033 — — 2,033 1,082,918 1,084,951 — 1-4 family residential 7,958 1,273 3,052 12,283 1,788,030 1,800,313 1 Consumer 88 5 12 105 26,697 26,802 1 Broker-dealer — — — — 361,587 361,587 — $ 19,900 $ 1,560 $ 8,504 $ 29,964 $ 8,162,882 $ 8,192,846 $ 51 Accruing Loans Loans Past Due Total Past Current Total Past Due December 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 $ 567 $ — $ 235 $ 802 $ 1,869,750 $ 1,870,552 $ — Owner occupied 1,037 2,880 — 3,917 1,371,404 1,375,321 — Commercial and industrial 609 82 5,598 6,289 1,633,691 1,639,980 49 Construction and land development 3,665 — — 3,665 977,231 980,896 — 1-4 family residential 9,733 773 4,467 14,973 1,752,126 1,767,099 1 Consumer 177 7 14 198 27,404 27,602 1 Broker-dealer — — — — 431,223 431,223 — $ 15,788 $ 3,742 $ 10,314 $ 29,844 $ 8,062,829 $ 8,092,673 $ 51
Schedule of analysis of the aging of the Modified Loans	An analysis of the aging of the Company’s loan portfolio that have been modified during the three months ended March 31, 2023 is shown in the following table (in thousands). Modified Loans Past Due Total Modified March 31, 2023 30-59 Days 60-89 Days 90 Days or More Past Due Loans Commercial real estate: Non-owner occupied $ — $ — $ — $ — Owner occupied — — — — Commercial and industrial 941 — — 941 Construction and land development — — — — 1-4 family residential — — — — Consumer — — — — Broker-dealer — — — — Total $ 941 $ — $ — $ 941
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, 2023 December 31, 2022 Interest Income Recognized With With No With With No Three Months Ended March 31, Allowance Allowance Total Allowance Allowance Total 2023 2022 Commercial real estate: Non-owner occupied $ 481 $ 557 $ 1,038 $ 688 $ 562 $ 1,250 $ 123 $ 97 Owner occupied 778 157 935 2,862 157 3,019 63 83 Commercial and industrial 3,217 7,590 10,807 3,727 5,368 9,095 131 188 Construction and land development 1 — 1 1 — 1 7 7 1-4 family residential 256 10,049 10,305 433 10,862 11,295 456 421 Consumer 12 — 12 14 — 14 — — Broker-dealer — — — — — — — — $ 4,745 $ 18,353 $ 23,098 $ 7,725 $ 16,949 $ 24,674 $ 780 $ 796
Schedule of amortized cost basis of the loans held for investment modified for borrowers experiencing financial difficulty	The following table presents the amortized cost basis of the loans held for investment modified for borrowers experiencing financial difficulty grouped by portfolio segment and type of modification granted (in thousands). Total Modifications as a Interest Rate Term Principal Payment % of Portfolio March 31, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 37,972 $ — $ — 2.1 % Owner occupied — 2,235 — — 0.2 % Commercial and industrial — 1,364 — 3,000 0.3 % Construction and land development — — — — — % 1-4 family residential — — — — — % Consumer — — — — — % Broker-Dealer — — — — — % Total $ — $ 41,571 $ — $ 3,000 0.5 %
Schedule of financial effects of the loans held for investment modified for borrowers experiencing financial difficulty	The following table presents the financial effects of the loans held for investment modified for borrowers experiencing financial difficulty (in thousands). Weighted-Average Term Extension March 31, 2023 (in months) Commercial real estate: Non-owner occupied 13 Owner occupied 35 Commercial and industrial 9 Construction and land development — 1-4 family residential — Consumer — Broker-Dealer — Total 14
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 Loans 2018 and Converted to March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Term Loans Total Commercial real estate: non-owner occupied Internal Grade 1-3 (Pass low risk) $ — $ 47,642 $ 75,314 $ 10,093 $ 7,890 $ 10,963 $ 1 $ 200 $ 152,103 Internal Grade 4-7 (Pass normal risk) 25,972 336,202 339,596 111,670 84,880 77,875 48,790 — 1,024,985 Internal Grade 8-11 (Pass high risk and watch) 41,444 99,995 128,434 119,618 49,829 113,843 13,604 — 566,767 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) 41,518 19,129 14,670 1,614 10,137 712 — — 87,780 Internal Grade 14 (Substandard non-accrual) — — 389 — — 649 — — 1,038 Current period gross charge-offs — — — — — — — — — Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 10,678 $ 20,488 $ 83,177 $ 57,631 $ 15,774 $ 70,007 $ 4,354 $ — $ 262,109 Internal Grade 4-7 (Pass normal risk) 36,478 175,809 197,176 80,169 75,569 130,435 15,836 — 711,472 Internal Grade 8-11 (Pass high risk and watch) 13,992 91,490 66,280 90,680 24,731 74,694 7,160 — 369,027 Internal Grade 12 (Special mention) — — — — 1,783 — — — 1,783 Internal Grade 13 (Substandard accrual) 2,235 5,867 2,810 6,394 1,073 13,501 — — 31,880 Internal Grade 14 (Substandard non-accrual) — 173 672 — — 90 — — 935 Current period gross charge-offs — — — — — 977 — — 977 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 4,723 $ 35,177 $ 34,665 $ 22,229 $ 5,280 $ 2,982 $ 41,278 $ — $ 146,334 Internal Grade 4-7 (Pass normal risk) 30,825 109,777 141,241 43,917 25,449 15,788 323,388 265 690,650 Internal Grade 8-11 (Pass high risk and watch) 31,697 138,837 47,164 30,107 12,490 9,159 278,502 1,518 549,474 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) — 5,730 3,410 6,203 4,006 6,246 15,968 26,705 68,268 Internal Grade 14 (Substandard non-accrual) — 209 171 5,314 — 2,446 2,667 — 10,807 Current period gross charge-offs — 34 — — 25 — — — 59 Construction and land development Internal Grade 1-3 (Pass low risk) $ 512 $ 21,714 $ 7,725 $ 408 $ 850 $ 2,956 $ — $ — $ 34,165 Internal Grade 4-7 (Pass normal risk) 75,718 338,646 171,342 32,119 909 3,477 40,251 — 662,462 Internal Grade 8-11 (Pass high risk and watch) 55,352 233,869 38,942 14,303 2,426 1,238 15,546 — 361,676 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) — 2,059 — — — — — — 2,059 Internal Grade 14 (Substandard non-accrual) — — — — — — — — — Current period gross charge-offs — — — — — — — — — Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 1,263 2,466 — — — 957 — — 4,686 FICO greater than 720 5,306 14,048 122 53 — — — — 19,529 Substandard non-accrual — — — — — — — — — Other (1) (1) 375 — — — — — — 374 Current period gross charge-offs — — — — — — — — — 1-4 family residential FICO less than 620 $ — $ 1,475 $ 710 $ 768 $ 408 $ 24,602 $ 251 $ — $ 28,214 FICO between 620 and 720 1,006 20,158 13,144 8,313 4,959 30,446 1,214 — 79,240 FICO greater than 720 59,086 576,614 776,329 103,300 43,510 70,756 3,876 59 1,633,530 Substandard non-accrual — 542 — — — 9,763 — — 10,305 Other (1) 1,955 24,279 15,595 1,405 2,317 3,469 4 — 49,024 Current period gross charge-offs — — — — — 73 — — 73 Consumer FICO less than 620 $ 148 $ 1,101 $ 199 $ 100 $ 23 $ 6 $ 357 $ — $ 1,934 FICO between 620 and 720 1,836 2,868 778 451 287 52 1,940 6 8,218 FICO greater than 720 849 4,250 1,304 1,001 276 47 2,277 — 10,004 Substandard non-accrual — — — — — 12 — — 12 Other (1) 1,508 3,949 560 350 77 17 173 — 6,634 Current period gross charge-offs — 54 — 4 2 9 — — 69 Total loans with credit quality measures $ 444,100 $ 2,334,938 $ 2,161,919 $ 748,210 $ 374,933 $ 677,188 $ 817,437 $ 28,753 $ 7,587,478 Commercial and industrial (mortgage warehouse lending) $ 234,344 Commercial and industrial (loans accounted for at fair value) $ 9,437 Broker-Dealer (margin loans and correspondent receivables) $ 361,587 Total loans held for investment $ 8,192,846 (1) Loans classified in this category were assigned a FICO score for credit modeling purposes.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	3 Months Ended
Allowance for Credit Losses (Tables)	Mar. 31, 2023
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, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,255 $ (768) $ (977) $ 11 $ 61,521 Commercial and industrial 16,035 (53) (59) 692 16,615 Construction and land development 6,051 (52) — — 5,999 1-4 family residential 9,313 2,434 (73) 17 11,691 Consumer 554 39 (69) 39 563 Broker-dealer 234 731 — — 965 Total $ 95,442 $ 2,331 $ (1,178) $ 759 $ 97,354 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
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, 2023 2022 Balance, beginning of period $ 7,784 $ 5,880 Other noninterest expense (979) 607 Balance, end of period $ 6,805 $ 6,487

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
Mortgage Servicing Rights (Tables)	Mar. 31, 2023
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, 2023 2022 Balance, beginning of period $ 100,825 $ 86,990 Additions 13,210 7,301 Sales — (1,876) Changes in fair value: Due to changes in model inputs or assumptions (1) (9,865) 10,856 Due to customer payoffs (856) (2,796) Balance, end of period $ 103,314 $ 100,475 March 31, December 31, 2023 2022 Mortgage loans serviced for others (2) $ 5,739,393 $ 5,144,558 MSR asset as a percentage of serviced mortgage loans 1.80 % 1.96 % (1) Primarily represents normal customer payments, the impact of changes in interest rates, changes in discount rates and prepayment speed assumptions, and the refinement of other MSR model assumptions. (2) Represents unpaid principal balance of mortgage loans serviced for others.
Schedule of key assumptions used in measuring the fair value of the Company's MSR	March 31, December 31, 2023 2022 Weighted average constant prepayment rate 9.08 % 8.14 % Weighted average discount rate 12.08 % 12.10 % Weighted average life (in years) 7.9 8.4
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, 2023 2022 Constant prepayment rate: Impact of 10% adverse change $ (3,738) $ (3,288) Impact of 20% adverse change (7,228) (6,375) Discount rate: Impact of 10% adverse change (4,680) (4,797) Impact of 20% adverse change (8,938) (9,147)

Deposits (Tables)

Deposits (Tables)	3 Months Ended
Deposits (Tables)	Mar. 31, 2023
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). March 31, December 31, 2023 2022 Noninterest-bearing demand $ 3,807,878 $ 3,968,862 Interest-bearing: Demand accounts 4,549,867 4,110,418 Brokered - demand 4,979 5,336 Money market 1,517,513 2,045,554 Brokered - money market 9,416 9,031 Savings 298,797 312,140 Time 908,697 864,408 $ 11,097,147 $ 11,315,749

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	3 Months Ended
Short-term Borrowings (Tables)	Mar. 31, 2023
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). March 31, December 31, 2023 2022 Federal funds purchased $ 448,158 $ 397,108 Securities sold under agreements to repurchase 363,478 297,856 Federal Home Loan Bank 450,000 — Short-term bank loans 84,000 57,500 Commercial paper 227,158 217,592 $ 1,572,794 $ 970,056
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, 2023 2022 Average balance during the period $ 706,400 $ 429,000 Average interest rate during the period 4.81 % 0.34 % March 31, December 31, 2023 2022 Average interest rate at end of period 4.99 % 4.37 % Securities underlying the agreements at end of period: Carrying value $ 363,580 $ 296,075 Estimated fair value $ 391,040 $ 318,409
Federal Home Loan Bank
Short-term borrowings
Schedule of short-term borrowings	Three Months Ended March 31, 2023 2022 Average balance during the period $ 146,667 $ — Average interest rate during the period 5.02 % — %

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
Notes Payable (Tables)	Mar. 31, 2023
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). March 31, December 31, 2023 2022 Senior Notes due April 2025, net of discount of $651 and $699, respectively $ 149,349 $ 149,301 Subordinated Notes due May 2030, net of discount of $586 and $610, respectively 49,414 49,390 Subordinated Notes due May 2035, net of discount of $1,990 and $2,037, respectively 148,011 147,963 Ventures Management lines of credit 29,636 — $ 376,410 $ 346,654

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). March 31, December 31, 2023 2022 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (6,095) (5,948) Premises and equipment, net $ 1,685 $ 1,832
Schedule of components of lease costs	The components of lease costs, including short-term lease costs, are as follows (in thousands). Three Months Ended March 31, 2023 2022 Operating lease cost $ 8,729 $ 9,606 Less operating lease and sublease income (633) (569) Net operating lease cost $ 8,096 $ 9,037 Finance lease cost: Amortization of ROU assets $ 147 $ 147 Interest on lease liabilities 112 124 Total finance lease cost $ 259 $ 271
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands). Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,024 $ 9,767 Operating cash flows from finance leases 113 125 Financing cash flows from finance leases 199 184 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 4,924 $ 1,276 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, 2023 December 31, 2022 Weighted Average Weighted Average Remaining Lease Weighted Average Remaining Lease Weighted Average Lease Classification Term (Years) Discount Rate Term (Years) Discount Rate Operating 5.5 4.05 % 5.7 3.89 % Finance 3.8 4.91 % 4.0 4.89 %
Schedule of future minimum lease payments under operating leases	Future minimum lease payments under lease agreements as of March 31, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 26,160 $ 968 2024 28,588 1,163 2025 21,979 886 2026 17,116 813 2027 13,593 448 Thereafter 29,336 149 Total minimum lease payments 136,772 4,427 Less amount representing interest (13,894) (1,222) Lease liabilities $ 122,878 $ 3,205
Schedule of future minimum lease payments under finance leases	Future minimum lease payments under lease agreements as of March 31, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 26,160 $ 968 2024 28,588 1,163 2025 21,979 886 2026 17,116 813 2027 13,593 448 Thereafter 29,336 149 Total minimum lease payments 136,772 4,427 Less amount representing interest (13,894) (1,222) Lease liabilities $ 122,878 $ 3,205

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2023
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, 2023 2022 Balance, beginning of period $ 31,244 $ 31,407 Claims made 14,415 9,842 Claims resolved with no payment (5,548) (4,521) Repurchases (9,908) (6,457) Indemnification payments (3,006) — Balance, end of period $ 27,197 $ 30,271 Indemnification Liability Reserve Activity Three Months Ended March 31, 2023 2022 Balance, beginning of period $ 20,528 $ 27,424 Additions for new sales 347 753 Repurchases (2,360) (565) Early payment defaults (98) (71) Indemnification payments (147) — Change in reserves for loans sold in prior years — (291) Balance, end of period $ 18,270 $ 27,250 March 31, December 31, 2023 2022 Reserve for Indemnification Liability: Specific claims $ 530 $ 627 Incurred but not reported claims 17,740 19,901 Total $ 18,270 $ 20,528

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2023
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, 2023 (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2022 1,548 $ 28.09 Granted 476 $ 34.39 Vested/Released (578) $ 21.72 Forfeited - $ - Balance, March 31, 2023 1,446 $ 32.65

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
Regulatory Matters (Tables)	Mar. 31, 2023
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, 2023 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, 2023 December 31, 2022 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,418,348 10.69 % $ 1,405,164 10.26 % 4.0 % 5.0 % Hilltop 1,910,810 11.82 % 1,900,701 11.47 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,418,348 14.97 % 1,405,164 14.98 % 7.0 % 6.5 % Hilltop 1,910,810 17.99 % 1,900,701 18.23 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,418,348 14.97 % 1,405,164 14.98 % 8.5 % 8.0 % Hilltop 1,910,810 17.99 % 1,900,701 18.23 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,511,156 15.94 % 1,492,576 15.91 % 10.5 % 10.0 % Hilltop 2,204,120 20.75 % 2,187,652 20.98 % 10.5 % N/A
Schedule of net capital position	At March 31, 2023, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). Momentum Hilltop Independent Securities Network Net capital $ 271,196 $ 4,302 Less: required net capital 8,665 256 Excess net capital $ 262,531 $ 4,046 Net capital as a percentage of aggregate debit items 62.6 % Net capital in excess of 5% aggregate debit items $ 249,533

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Mar. 31, 2023
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, 2023 2022 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 4,897 $ 22,052 Hilltop Broker-Dealers (21,180) (1,327) Bank (12) 29
Schedule of derivative positions	Derivative positions are presented in the following table (in thousands). March 31, 2023 December 31, 2022 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 772,675 $ 12,481 $ 506,278 $ 1,767 Commitments to purchase MBSs 1,163,144 5,313 819,681 2,435 Commitments to sell MBSs 2,556,958 (22,272) 2,188,964 10,711 Interest rate swaps 39,251 (2,201) 35,784 (1,421) U.S. Treasury bond futures and options (1) 334,200 5,205 395,500 (449) Interest rate and other futures (1) 1,663,200 — 2,612,000 — Credit default swaps 2,000 (9) 3,000 (2) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 430,000 $ 17,448 $ 430,000 $ 21,703 Interest rate swaps designated as fair value hedges (2) 325,323 34,764 365,323 42,828 (1) Noted derivative instruments include contracts between the Hilltop Broker-Dealers and counterparties with changes in fair value of the contracts that are settled daily. (2) The Company designated $325.3 million and $365.3 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 $290.6 million and $322.5 million as of March 31, 2023 and December 31, 2022, respectively), of which, a subset of these hedges are in portfolio layer hedging relationships. The cumulative basis adjustment included in the carrying value of the hedged items totaled $34.8 million and $42.8 million as of March 31, 2023 and December 31, 2022, respectively.

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	3 Months Ended
Balance Sheet Offsetting (Tables)	Mar. 31, 2023
Balance Sheet Offsetting
Schedule of the assets subject to an enforceable master netting arrangement or repurchase agreements	Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Assets Cash of Recognized Offset in the Presented in the Financial Collateral Net Assets Balance Sheet Balance Sheet Instruments Pledged Amount March 31, 2023 Securities borrowed: Institutional counterparties $ 1,416,426 $ — $ 1,416,426 $ (1,379,628) $ — $ 36,798 Interest rate swaps: Institutional counterparties 52,349 (133) 52,216 — (54,970) (2,754) Reverse repurchase agreements: Institutional counterparties 144,201 — 144,201 (143,687) — 514 Forward MBS derivatives: Institutional counterparties 5,315 — 5,315 (5,315) — — Treasury futures and options derivatives: Institutional counterparties 5,474 (269) 5,205 — 115 5,320 $ 1,623,765 $ (402) $ 1,623,363 $ (1,528,630) $ (54,855) $ 39,878 December 31, 2022 Securities borrowed: Institutional counterparties $ 1,012,573 $ — $ 1,012,573 $ (964,517) $ — $ 48,056 Interest rate swaps: Institutional counterparties 64,729 — 64,729 — (64,630) 99 Reverse repurchase agreements: Institutional counterparties 118,070 — 118,070 (115,302) — 2,768 Forward MBS derivatives: Institutional counterparties 16,694 (3,410) 13,284 (9,957) — 3,327 Treasury futures and options derivatives: Institutional counterparties 57 (506) (449) — — (449) $ 1,212,123 $ (3,916) $ 1,208,207 $ (1,089,776) $ (64,630) $ 53,801
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, 2023 Securities loaned: Institutional counterparties $ 1,303,657 $ — $ 1,303,657 $ (1,269,221) $ — $ 34,436 Interest rate swaps: Institutional counterparties 2,205 — 2,205 (2,205) — — Credit default swaps: Institutional counterparties 9 — 9 (9) — — Repurchase agreements: Institutional counterparties 362,327 — 362,327 (362,327) — — Forward MBS derivatives: Institutional counterparties 23,146 (872) 22,274 (14,131) (2,678) 5,465 $ 1,691,344 $ (872) $ 1,690,472 $ (1,647,893) $ (2,678) $ 39,901 December 31, 2022 Securities loaned: Institutional counterparties $ 916,570 $ — $ 916,570 $ (871,037) $ — $ 45,533 Interest rate swaps: Institutional counterparties 1,619 — 1,619 (1,438) — 181 Credit default swaps: Institutional counterparties 2 — 2 (2) — — Repurchase agreements: Institutional counterparties 296,978 — 296,978 (319,897) — (22,919) Forward MBS derivatives: Institutional counterparties 138 — 138 (138) — — $ 1,215,307 $ — $ 1,215,307 $ (1,192,512) $ — $ 22,795
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, 2023 and December 31, 2022. Remaining Contractual Maturities Overnight and Greater Than March 31, 2023 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities 249,330 — 112,997 — 362,327 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,303,544 — — — 1,303,544 Total $ 1,552,987 $ — $ 112,997 $ — $ 1,665,984 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,665,984 Amount related to agreements not included in offsetting disclosure above $ — Remaining Contractual Maturities Overnight and Greater Than December 31, 2022 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities $ 130,616 $ 2,539 $ 141,461 $ 22,362 $ 296,978 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 916,457 — — — 916,457 Total $ 1,047,186 $ 2,539 $ 141,461 $ 22,362 $ 1,213,548 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,213,548 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, 2023
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, 2023 2022 Receivables: Securities borrowed $ 1,416,426 $ 1,012,573 Securities failed to deliver 54,698 11,350 Trades in process of settlement 76,886 3,476 Other 12,236 10,656 $ 1,560,246 $ 1,038,055 Payables: Securities loaned $ 1,303,657 $ 916,570 Correspondents 21,693 22,760 Securities failed to receive 51,284 20,167 Other 6,683 6,973 $ 1,383,317 $ 966,470

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
Segment and Related Information (Tables)	Mar. 31, 2023
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, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 104,770 $ 13,863 $ (4,208) $ (3,322) $ 10,602 $ 121,705 Provision for (reversal of) credit losses 1,600 731 — — — 2,331 Noninterest income 11,190 90,635 68,829 2,704 (10,864) 162,494 Noninterest expense 56,127 90,345 88,753 15,513 (268) 250,470 Income (loss) before taxes $ 58,233 $ 13,422 $ (24,132) $ (16,131) $ 6 $ 31,398 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 Banking Broker-Dealer Origination Corporate Eliminations Consolidated March 31, 2023 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,694,346 $ 3,067,104 $ 1,304,450 $ 2,476,627 $ (3,513,440) $ 17,029,087 December 31, 2022 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,420,110 $ 2,672,709 $ 1,249,284 $ 2,465,513 $ (3,548,334) $ 16,259,282

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
Earnings per Common Share (Tables)	Mar. 31, 2023
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, 2023 2022 Basic earnings per share: Income attributable to Hilltop $ 25,800 $ 22,250 Weighted average shares outstanding - basic 64,901 79,114 Basic earnings per common share: $ 0.40 $ 0.28 Diluted earnings per share: Income attributable to Hilltop $ 25,800 $ 22,250 Weighted average shares outstanding - basic 64,901 79,114 Effect of potentially dilutive securities 53 242 Weighted average shares outstanding - diluted 64,954 79,356 Diluted earnings per common share: $ 0.40 $ 0.28

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Nature of Operations and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2023 item
Basis of Presentation
Number of primary business units	2
PCC
Basis of Presentation
Ownership percentage	100%
Securities Holdings
Basis of Presentation
Ownership percentage	100%
HTH Hillcrest Project LLC
Basis of Presentation
Membership ownership percentage	100%
Hilltop Investments I, LLC
Basis of Presentation
Membership ownership percentage	100%
PCC \| Plains Capital Bank
Basis of Presentation
Ownership percentage	100%
PCC \| Hilltop Opportunity Partners LLC
Basis of Presentation
Membership ownership percentage	100%
PCC \| PCC Statutory Trusts
Basis of Presentation
Ownership percentage	100%
Plains Capital Bank \| Prime Lending
Basis of Presentation
Ownership percentage	100%
Prime Lending \| Prime Lending Ventures Management LLC
Basis of Presentation
Membership ownership percentage	100%
Hilltop Investments I, LLC \| Hillcrest Land LLC
Basis of Presentation
Membership ownership percentage	50%

Fair Value Measurements - FV Op

Fair Value Measurements - FV Option (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value Measurements
Mortgage loans held for sale, fair value	$ 885.5	$ 855.7
Mortgage loans held for sale, unpaid principal balance	$ 869.9	$ 850.3

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial assets:
Trading securities	$ 692,908	$ 755,032
Available for sale securities	1,641,571	1,658,766
Equity securities	231	200
MSR asset	103,314	100,825
Financial liabilities:
Securities sold, not yet purchased	51,497	53,023
Recurring
Financial assets:
Trading securities	692,908	755,032
Available for sale securities	1,641,571	1,658,766
Equity securities	231	200
Loans held for sale	9,437	855,697
Loans held for investment	885,501	9,181
Derivative assets	82,020	88,977
MSR asset	103,314	100,825
Financial liabilities:
Securities sold, not yet purchased	51,497	53,023
Derivative liabilities	31,291	11,405
Recurring \| Level 1
Financial assets:
Trading securities	15,516	15,456
Equity securities	231	200
Financial liabilities:
Securities sold, not yet purchased	16,736	25,506
Recurring \| Level 2
Financial assets:
Trading securities	677,392	739,576
Available for sale securities	1,641,571	1,658,766
Loans held for sale		814,990
Loans held for investment	851,508
Derivative assets	82,020	88,977
Financial liabilities:
Securities sold, not yet purchased	34,761	27,517
Derivative liabilities	31,291	11,405
Recurring \| Level 3
Financial assets:
Loans held for sale	9,437	40,707
Loans held for investment	33,993	9,181
MSR asset	$ 103,314	$ 100,825

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	$ 150,713	$ 134,706
Purchases/Additions	30,006	23,898
Sales/Reductions	(23,454)	(14,534)
Transfers to (from) Level 3	(446)	4,744
Total gains or losses (realized or unrealized):
Included in Net Income	(10,075)	7,249
Asset balance, End of Year	146,744	156,063
Loans held for sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	40,707	47,716
Purchases/Additions	16,796	6,986
Sales/Reductions	(23,454)	(12,658)
Transfers to (from) Level 3	(446)	4,744
Total gains or losses (realized or unrealized):
Included in Net Income	390	(811)
Asset balance, End of Year	33,993	45,977
Loans held for investment
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	9,181
Purchases/Additions		9,611
Total gains or losses (realized or unrealized):
Included in Net Income	256
Asset balance, End of Year	9,437	9,611
MSR asset
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	100,825	86,990
Purchases/Additions	13,210	7,301
Sales/Reductions		(1,876)
Total gains or losses (realized or unrealized):
Included in Net Income	(10,721)	8,060
Asset balance, End of Year	$ 103,314	$ 100,475

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Mar. 31, 2023 item	Dec. 31, 2022 item
Loans held for sale
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Valuation Technique [Extensible List]	us-gaap:MarketApproachValuationTechniqueMember	us-gaap:MarketApproachValuationTechniqueMember
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	0.88	0.89
Loans held for sale \| Projected Price \| Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.86	0.88
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
Loans held for investment \| Discount Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Loans Held-for-sale, Measurement Input	0.1150	0.1188
MSR asset \| Constant Prepayment Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Servicing Asset, Measurement Input	0.0908	0.0814
MSR asset \| Discount Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1208	0.1210

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value Option
Net Gains (Losses)	$ 39,966	$ 110,894
Other Noninterest Income	35,680	6,621
Transfers of assets from level 1 to level 2	0
Loans held for sale
Fair Value Option
Net Gains (Losses)	10,134	(50,855)
Total Changes in Fair Value	10,134	(50,855)
MSR asset
Fair Value Option
Net Gains (Losses)	(10,721)	8,060
Total Changes in Fair Value	$ (10,721)	$ 8,060

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial assets:
Held to maturity securities	$ 785,380	$ 785,335
Loans held for investment, net	8,095,492	7,997,231
Broker-dealer and clearing organization receivables	1,560,246	1,038,055
Financial liabilities:
Broker-dealer and clearing organization payables	1,383,317	966,470
Carrying Amount
Financial assets:
Cash and cash equivalents	1,764,824	1,580,162
Assets segregated for regulatory purposes	36,199	67,737
Securities purchased under agreements to resell	144,201	118,070
Held to maturity securities	862,280	875,532
Loans held for sale	154,637	126,919
Loans held for investment, net	8,086,055	7,988,050
Broker-dealer and clearing organization receivables	1,560,246	1,038,055
Other assets	79,197	77,052
Financial liabilities:
Deposits	11,097,147	11,315,749
Broker-dealer and clearing organization payables	1,383,317	966,470
Short-term borrowings	1,572,794	970,056
Debt	376,410	346,654
Other liabilities	11,593	5,410
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	1,764,824	1,580,162
Assets segregated for regulatory purposes	36,199	67,737
Securities purchased under agreements to resell	144,201	118,070
Held to maturity securities	785,380	785,335
Loans held for sale	164,602	125,592
Loans held for investment, net	8,070,841	7,865,261
Broker-dealer and clearing organization receivables	1,560,246	1,038,055
Other assets	79,197	77,052
Financial liabilities:
Deposits	11,080,699	11,295,153
Broker-dealer and clearing organization payables	1,383,317	966,470
Short-term borrowings	1,572,794	970,056
Debt	363,111	350,104
Other liabilities	11,593	5,410
Estimate of Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	1,764,824	1,580,162
Assets segregated for regulatory purposes	36,199	67,737
Estimate of Fair Value \| Level 2
Financial assets:
Securities purchased under agreements to resell	144,201	118,070
Held to maturity securities	785,380	785,335
Loans held for sale	104,811	82,684
Loans held for investment, net	361,587	431,223
Broker-dealer and clearing organization receivables	1,560,246	1,038,055
Other assets	77,531	75,386
Financial liabilities:
Deposits	11,080,699	11,295,153
Broker-dealer and clearing organization payables	1,383,317	966,470
Short-term borrowings	1,572,794	970,056
Debt	363,111	350,104
Other liabilities	11,593	5,410
Estimate of Fair Value \| Level 3
Financial assets:
Loans held for sale	59,791	42,908
Loans held for investment, net	7,709,254	7,434,038
Other assets	$ 1,666	$ 1,666

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 27,264	$ 16,817
Additional investments		11,000
Upward adjustments	243	214
Impairments and downward adjustments	(5,000)	(45)
Balance, end of year	22,507	$ 27,986
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 51,600		$ 57,600

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of fair value of trading securities
Debt Securities, Trading	$ 692,908	$ 755,032
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	51,497	53,023
US Treasury Securities
Schedule of fair value of trading securities
Debt Securities, Trading	15,512	10,466
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	10,002	20,878
Residential Mortgage Backed Securities
Schedule of fair value of trading securities
Debt Securities, Trading	226,542	214,100
Collateralized Mortgage Obligations
Schedule of fair value of trading securities
Debt Securities, Trading	133,454	182,717
Corporate Debt Securities
Schedule of fair value of trading securities
Debt Securities, Trading	55,172	42,685
US States and Political Subdivisions Debt Securities
Schedule of fair value of trading securities
Debt Securities, Trading	227,876	260,271
Private-label securitized product
Schedule of fair value of trading securities
Debt Securities, Trading	21,008	9,265
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 3,342	$ 14,650

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Available for sale
Amortized Cost		$ 1,758,339		$ 1,788,557
Unrealized Gains		619		460
Unrealized Losses		(117,387)		(130,251)
Fair Value		1,641,571		1,658,766
Held to maturity
Amortized Cost		862,280		875,532
Unrealized Gains		138		26
Unrealized Losses		(77,038)		(90,223)
Fair Value		785,380		785,335
Equity Securities
Equity, at fair value		231		200
Unrealized net gains (losses) from equity securities during the year		200		100
Book value of held to maturity		646,901	$ 708,701
Pre-tax net unrecognized losses		63,664	$ 73,722
US Treasury Securities
Available for sale
Amortized Cost		19,824		19,655
Unrealized Gains		3		3
Unrealized Losses		(436)		(514)
Fair Value		19,391		19,144
Bonds
Available for sale
Amortized Cost		206,681		202,834
Unrealized Gains		252		323
Unrealized Losses		(1,027)		(900)
Fair Value		205,906		202,257
Residential Mortgage Backed Securities
Available for sale
Amortized Cost		438,858		455,121
Unrealized Gains		9		12
Unrealized Losses		(43,486)		(48,775)
Fair Value		395,381		406,358
Held to maturity
Amortized Cost		295,889		301,583
Unrealized Losses		(25,852)		(29,727)
Fair Value		270,037		271,856
Commercial Mortgage Backed Securities
Available for sale
Amortized Cost		187,869		183,266
Unrealized Gains		177		65
Unrealized Losses		(9,260)		(7,832)
Fair Value		178,786		175,499
Held to maturity
Amortized Cost		180,598		180,942
Unrealized Losses		(12,673)		(14,935)
Fair Value		167,925		166,007
Collateralized Mortgage Obligations
Available for sale
Amortized Cost		865,642		887,521
Unrealized Gains		106
Unrealized Losses		(60,322)		(68,627)
Fair Value		805,426		818,894
Held to maturity
Amortized Cost		307,778		314,705
Unrealized Losses		(33,815)		(38,343)
Fair Value		273,963		276,362
US States and Political Subdivisions Debt Securities
Available for sale
Amortized Cost		39,465		40,160
Unrealized Gains		72		57
Unrealized Losses		(2,856)		(3,603)
Fair Value		36,681		36,614
Held to maturity
Amortized Cost		78,015		78,302
Unrealized Gains		138		26
Unrealized Losses		(4,698)		(7,218)
Fair Value		$ 73,455		$ 71,110
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, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Number of Securities
Unrealized loss for less than twelve months \| item	140	252
Unrealized loss for twelve months or longer \| item	232	119
Total \| item	372	371
Fair Value
Unrealized loss for less than twelve months	$ 490,944	$ 930,361
Unrealized loss for twelve months or longer	1,052,457	596,199
Total	1,543,401	1,526,560
Unrealized Loss
Unrealized loss for less than twelve months	11,518	44,415
Unrealized loss for twelve months or longer	105,869	85,836
Total	$ 117,387	$ 130,251
US Treasury Securities
Number of Securities
Unrealized loss for twelve months or longer \| item	1	1
Total \| item	1	1
Fair Value
Unrealized loss for twelve months or longer	$ 4,545	$ 4,465
Total	4,545	4,465
Unrealized Loss
Unrealized loss for twelve months or longer	436	514
Total	$ 436	$ 514
Bonds
Number of Securities
Unrealized loss for less than twelve months \| item	24	15
Unrealized loss for twelve months or longer \| item	3	3
Total \| item	27	18
Fair Value
Unrealized loss for less than twelve months	$ 154,851	$ 98,246
Unrealized loss for twelve months or longer	14,399	15,263
Total	169,250	113,509
Unrealized Loss
Unrealized loss for less than twelve months	630	388
Unrealized loss for twelve months or longer	397	512
Total	$ 1,027	$ 900
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	45	95
Unrealized loss for twelve months or longer \| item	79	30
Total \| item	124	125
Fair Value
Unrealized loss for less than twelve months	$ 72,808	$ 168,351
Unrealized loss for twelve months or longer	320,641	236,739
Total	393,449	405,090
Unrealized Loss
Unrealized loss for less than twelve months	2,500	10,036
Unrealized loss for twelve months or longer	40,986	38,739
Total	$ 43,486	$ 48,775
Commercial Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	7	11
Unrealized loss for twelve months or longer \| item	12	8
Total \| item	19	19
Fair Value
Unrealized loss for less than twelve months	$ 38,978	$ 79,337
Unrealized loss for twelve months or longer	130,372	86,923
Total	169,350	166,260
Unrealized Loss
Unrealized loss for less than twelve months	1,274	2,047
Unrealized loss for twelve months or longer	7,986	5,785
Total	$ 9,260	$ 7,832
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months \| item	38	97
Unrealized loss for twelve months or longer \| item	104	48
Total \| item	142	145
Fair Value
Unrealized loss for less than twelve months	$ 213,056	$ 563,872
Unrealized loss for twelve months or longer	566,274	244,917
Total	779,330	808,789
Unrealized Loss
Unrealized loss for less than twelve months	7,030	30,980
Unrealized loss for twelve months or longer	53,292	37,647
Total	$ 60,322	$ 68,627
US States and Political Subdivisions Debt Securities
Number of Securities
Unrealized loss for less than twelve months \| item	26	34
Unrealized loss for twelve months or longer \| item	33	29
Total \| item	59	63
Fair Value
Unrealized loss for less than twelve months	$ 11,251	$ 20,555
Unrealized loss for twelve months or longer	16,226	7,892
Total	27,477	28,447
Unrealized Loss
Unrealized loss for less than twelve months	84	964
Unrealized loss for twelve months or longer	2,772	2,639
Total	$ 2,856	$ 3,603

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Number of Securities
Unrealized loss for less than twelve months \| item	49	212
Unrealized loss for twelve months or longer \| item	243	97
Total \| item	292	309
Fair Value
Unrealized loss for less than twelve months	$ 29,871	$ 315,556
Unrealized loss for twelve months or longer	741,894	466,222
Total	771,765	781,778
Unrealized Losses
Unrealized loss for less than twelve months	483	28,998
Unrealized loss for twelve months or longer	76,555	61,225
Total	$ 77,038	$ 90,223
Residential Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item		14
Unrealized loss for twelve months or longer \| item	45	31
Total \| item	45	45
Fair Value
Unrealized loss for less than twelve months		$ 59,089
Unrealized loss for twelve months or longer	$ 270,038	212,768
Total	270,038	271,857
Unrealized Losses
Unrealized loss for less than twelve months		5,928
Unrealized loss for twelve months or longer	25,852	23,799
Total	$ 25,852	$ 29,727
Commercial Mortgage Backed Securities
Number of Securities
Unrealized loss for less than twelve months \| item	3	30
Unrealized loss for twelve months or longer \| item	28	1
Total \| item	31	31
Fair Value
Unrealized loss for less than twelve months	$ 10,788	$ 163,172
Unrealized loss for twelve months or longer	157,137	2,834
Total	167,925	166,006
Unrealized Losses
Unrealized loss for less than twelve months	311	14,483
Unrealized loss for twelve months or longer	12,362	452
Total	$ 12,673	$ 14,935
Collateralized Mortgage Obligations
Number of Securities
Unrealized loss for less than twelve months \| item		18
Unrealized loss for twelve months or longer \| item	54	38
Total \| item	54	56
Fair Value
Unrealized loss for less than twelve months		$ 33,836
Unrealized loss for twelve months or longer	$ 273,963	242,527
Total	273,963	276,363
Unrealized Losses
Unrealized loss for less than twelve months		3,225
Unrealized loss for twelve months or longer	33,815	35,118
Total	$ 33,815	$ 38,343
US States and Political Subdivisions Debt Securities
Number of Securities
Unrealized loss for less than twelve months \| item	46	150
Unrealized loss for twelve months or longer \| item	116	27
Total \| item	162	177
Fair Value
Unrealized loss for less than twelve months	$ 19,083	$ 59,459
Unrealized loss for twelve months or longer	40,756	8,093
Total	59,839	67,552
Unrealized Losses
Unrealized loss for less than twelve months	172	5,362
Unrealized loss for twelve months or longer	4,526	1,856
Total	$ 4,698	$ 7,218

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 34,370
Due after one year through five years	91,716
Due after five years through ten years	63,298
Due after ten years	76,586
Total	265,970
Amortized Cost	1,758,339	$ 1,788,557
AFS, Fair Value, Rolling Maturity
Due in one year or less	34,227
Due after one year through five years	90,795
Due after five years through ten years	62,971
Due after ten years	73,985
Total	261,978
Fair Value	1,641,571	1,658,766
Residential Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	438,858
Amortized Cost	438,858	455,121
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	395,381
Fair Value	395,381	406,358
Commercial Mortgage Backed Securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	187,869
Amortized Cost	187,869	183,266
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	178,786
Fair Value	178,786	175,499
Collateralized Mortgage Obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	865,642
Amortized Cost	865,642	887,521
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	805,426
Fair Value	$ 805,426	$ 818,894

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 575
Due after one year through five years	1,120
Due after five years through ten years	27,491
Due after ten years	48,829
Total	78,015
Amortized Cost	862,280	$ 875,532
HTM, Fair Value, Rolling Maturities
Due in one year or less	573
Due after one year through five years	1,094
Due after five years through ten years	26,753
Due after ten years	45,035
Total	73,455
Fair Value	785,380	785,335
Residential Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	295,889
Amortized Cost	295,889	301,583
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	270,037
Fair Value	270,037	271,856
Commercial Mortgage Backed Securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	180,598
Amortized Cost	180,598	180,942
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	167,925
Fair Value	167,925	166,007
Collateralized Mortgage Obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	307,778
Amortized Cost	307,778	314,705
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	273,963
Fair Value	$ 273,963	$ 276,362

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Securities
Realized net gains (losses) from trading securities portfolio	$ 10.5	$ (11.5)
Financial Instrument, Owned, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral		Asset Pledged as Collateral
Asset Pledged as Collateral
Securities
Carrying amount of securities pledged	$ 710.6		$ 778.6
Fair value of securities pledged	666.5		$ 717.6
Hilltop Broker-Dealers
Securities
Realized net gains (losses) from trading securities portfolio	$ 32.6	$ 6.7

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Loans
Loans	$ 8,192,846	$ 8,092,673
Allowance for loan losses	(97,354)	(95,442)	$ (91,185)	$ (91,352)
Loans held for investment, net	8,095,492	7,997,231
Commercial real estate
Loans
Loans	3,209,879	3,245,873
Allowance for loan losses	(61,521)	(63,255)	(60,361)	(59,354)
Commercial and industrial
Loans
Loans	1,709,314	1,639,980
Allowance for loan losses	(16,615)	(16,035)	(20,130)	(21,982)
Construction and land development
Loans
Loans	1,084,951	980,896
Allowance for loan losses	(5,999)	(6,051)	(5,515)	(4,674)
1 - 4 family residential
Loans
Loans	1,800,313	1,767,099
Allowance for loan losses	(11,691)	(9,313)	(4,340)	(4,589)
Consumer
Loans
Loans	26,802	27,602
Allowance for loan losses	(563)	(554)	(499)	(578)
Broker-dealer
Loans
Loans	361,587	431,223
Allowance for loan losses	$ (965)	$ (234)	$ (340)	$ (175)

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 8,192,846	$ 8,092,673
Accruing Loans Past Due 90 Days or More	51	51
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	19,900	15,788
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,560	3,742
Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,504	10,314
Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	29,964	29,844
Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,162,882	8,062,829
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	114,500	92,000
Unpaid principal balance loans past due 90 days or more	114,800	92,400
Commercial real estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,209,879	3,245,873
Commercial real estate \| Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,832,673	1,870,552
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	511	567
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	36	235
Commercial real estate \| Non-owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	547	802
Commercial real estate \| Non-owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,832,126	1,869,750
Commercial real estate \| Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,377,206	1,375,321
Commercial real estate \| Owner occupied \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	49	1,037
Commercial real estate \| Owner occupied \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	179	2,880
Commercial real estate \| Owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	228	3,917
Commercial real estate \| Owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,376,978	1,371,404
Commercial and industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,709,314	1,639,980
Accruing Loans Past Due 90 Days or More	49	49
Commercial and industrial \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	9,261	609
Commercial and industrial \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	103	82
Commercial and industrial \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	5,404	5,598
Commercial and industrial \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	14,768	6,289
Commercial and industrial \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,694,546	1,633,691
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,084,951	980,896
Construction and land development \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	2,033	3,665
Construction and land development \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	2,033	3,665
Construction and land development \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,082,918	977,231
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,800,313	1,767,099
Accruing Loans Past Due 90 Days or More	1	1
1 - 4 family residential \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	7,958	9,733
1 - 4 family residential \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,273	773
1 - 4 family residential \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,052	4,467
1 - 4 family residential \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	12,283	14,973
1 - 4 family residential \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,788,030	1,752,126
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	26,802	27,602
Accruing Loans Past Due 90 Days or More	1	1
Consumer \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	88	177
Consumer \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	5	7
Consumer \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	12	14
Consumer \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	105	198
Consumer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	26,697	27,404
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	361,587	431,223
Broker-dealer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 361,587	$ 431,223

Loans Held for Investment - A_2

Loans Held for Investment - Aging of Modified Loans (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Modified Loans	$ 941
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Modified Loans	941
Commercial and industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Modified Loans	941
Commercial and industrial \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Modified Loans	$ 941

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) loan	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) property
Non-accrual loans
Non-accrual Loans With Allowance	$ 4,745		$ 7,725
Non-accrual Loans With No Allowance	18,353		16,949
Non-accrual loans	23,098		24,674
Interest Income Recognized	780	$ 796
Increase (decrease) in non-accrual status loans	(1,600)
Commercial real estate \| Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	481		688
Non-accrual Loans With No Allowance	557		562
Non-accrual loans	1,038		$ 1,250
Interest Income Recognized	123	97
Commercial real estate \| Non-owner occupied \| Texas
Non-accrual loans
Number of office property foreclosed \| property			1
Commercial real estate \| Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	778		$ 2,862
Non-accrual Loans With No Allowance	157		157
Non-accrual loans	935		3,019
Interest Income Recognized	63	83
Increase (decrease) in non-accrual status loans	(2,100)
Commercial and industrial
Non-accrual loans
Non-accrual Loans With Allowance	3,217		3,727
Non-accrual Loans With No Allowance	7,590		5,368
Non-accrual loans	10,807		9,095
Interest Income Recognized	131	188
Increase (decrease) in non-accrual status loans	1,700
Increase in financing receivable non accrual status	$ 2,700
Number of non-accrual loan additions during the period \| loan	1
Construction and land development
Non-accrual loans
Non-accrual Loans With Allowance	$ 1		1
Non-accrual loans	1		1
Interest Income Recognized	7	7
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	256		433
Non-accrual Loans With No Allowance	10,049		10,862
Non-accrual loans	10,305		11,295
Interest Income Recognized	456	$ 421
Increase (decrease) in non-accrual status loans	(1,000)
1 - 4 family residential \| Secured by Residential Properties [Member]
Non-accrual loans
Non-accrual loans held for sale	4,300		4,800
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	12		14
Non-accrual loans	$ 12		$ 14

Loans Held for Investment - Amo

Loans Held for Investment - Amortized cost basis of the loans held for investment modified for borrowers (Details) $ in Thousands	Mar. 31, 2023 USD ($)
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0.50%
Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 41,571
Payment Delay
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 3,000
Commercial real estate \| Non-owner occupied
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	2.10%
Commercial real estate \| Non-owner occupied \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 37,972
Commercial real estate \| Owner occupied
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0.20%
Commercial real estate \| Owner occupied \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 2,235
Commercial and industrial
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0.30%
Commercial and industrial \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 1,364
Commercial and industrial \| Payment Delay
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 3,000

Loans Held for Investment - Fin

Loans Held for Investment - Financial effects of the loans held for investment modified for borrowers (Details)	3 Months Ended
	Mar. 31, 2023
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	14 months
Commercial real estate \| Non-owner occupied
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	13 months
Commercial real estate \| Owner occupied
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	35 months
Commercial and industrial
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	9 months

Loans Held for Investment - TDR

Loans Held for Investment - TDRs (Details)	3 Months Ended
Loans Held for Investment - TDRs (Details)	Mar. 31, 2023 USD ($) loan	Mar. 31, 2022 USD ($) contract loan
TDRs, Non-covered loans
Number of TDRs granted \| loan		1
TDR at extension		$ 600,000
TDR modifications, end of period		600,000
Unadvanced commitments to borrowers		$ 0
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due \| contract		0
Prime Lending
TDRs, Non-covered loans
Repurchase under a forbearance agreement	$ 64,600,000
AB Note \| Minimum \| Plains Capital Bank
TDRs, Non-covered loans
Number of loans into which a single loan may be reconfigured \| loan	2

Loans Held for Investment - Int

Loans Held for Investment - Internal Risk Grades (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Internal risk grades of non-covered loans
2023	$ 444,100
2022	2,334,938
2021	2,161,919
2020	748,210
2019	374,933
2018 and Prior	677,188
Revolving	817,437
Loans Converted To Term Loans	28,753
Total loans with credit quality measures	7,587,478
Allowance for loan and lease losses write-offs	1,178	$ 1,337
Total	8,192,846		$ 8,092,673
Commercial real estate
Internal risk grades of non-covered loans
Allowance for loan and lease losses write-offs	977
Total	3,209,879		3,245,873
Commercial real estate \| Non-owner occupied
Internal risk grades of non-covered loans
Total	1,832,673		1,870,552
Commercial real estate \| Non-owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2022	47,642
2021	75,314
2020	10,093
2019	7,890
2018 and Prior	10,963
Revolving	1
Loans Converted To Term Loans	200
Total loans with credit quality measures	152,103
Commercial real estate \| Non-owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	25,972
2022	336,202
2021	339,596
2020	111,670
2019	84,880
2018 and Prior	77,875
Revolving	48,790
Total loans with credit quality measures	1,024,985
Commercial real estate \| Non-owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	41,444
2022	99,995
2021	128,434
2020	119,618
2019	49,829
2018 and Prior	113,843
Revolving	13,604
Total loans with credit quality measures	566,767
Commercial real estate \| Non-owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	41,518
2022	19,129
2021	14,670
2020	1,614
2019	10,137
2018 and Prior	712
Total loans with credit quality measures	87,780
Commercial real estate \| Non-owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2021	389
2018 and Prior	649
Total loans with credit quality measures	1,038
Commercial real estate \| Owner occupied
Internal risk grades of non-covered loans
Current period gross charge-offs, 2018 and prior	977
Allowance for loan and lease losses write-offs	977
Total	1,377,206		1,375,321
Commercial real estate \| Owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	10,678
2022	20,488
2021	83,177
2020	57,631
2019	15,774
2018 and Prior	70,007
Revolving	4,354
Total loans with credit quality measures	262,109
Commercial real estate \| Owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	36,478
2022	175,809
2021	197,176
2020	80,169
2019	75,569
2018 and Prior	130,435
Revolving	15,836
Total loans with credit quality measures	711,472
Commercial real estate \| Owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	13,992
2022	91,490
2021	66,280
2020	90,680
2019	24,731
2018 and Prior	74,694
Revolving	7,160
Total loans with credit quality measures	369,027
Commercial real estate \| Owner occupied \| Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2019	1,783
Total loans with credit quality measures	1,783
Commercial real estate \| Owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	2,235
2022	5,867
2021	2,810
2020	6,394
2019	1,073
2018 and Prior	13,501
Total loans with credit quality measures	31,880
Commercial real estate \| Owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	173
2021	672
2018 and Prior	90
Total loans with credit quality measures	935
Commercial and industrial
Internal risk grades of non-covered loans
Current period gross charge-offs, 2022	34
Current period gross charge-offs, 2019	25
Allowance for loan and lease losses write-offs	59	1,209
Total	1,709,314		1,639,980
Commercial and industrial \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	4,723
2022	35,177
2021	34,665
2020	22,229
2019	5,280
2018 and Prior	2,982
Revolving	41,278
Total loans with credit quality measures	146,334
Commercial and industrial \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	30,825
2022	109,777
2021	141,241
2020	43,917
2019	25,449
2018 and Prior	15,788
Revolving	323,388
Loans Converted To Term Loans	265
Total loans with credit quality measures	690,650
Commercial and industrial \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	31,697
2022	138,837
2021	47,164
2020	30,107
2019	12,490
2018 and Prior	9,159
Revolving	278,502
Loans Converted To Term Loans	1,518
Total loans with credit quality measures	549,474
Commercial and industrial \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2022	5,730
2021	3,410
2020	6,203
2019	4,006
2018 and Prior	6,246
Revolving	15,968
Loans Converted To Term Loans	26,705
Total loans with credit quality measures	68,268
Commercial and industrial \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	209
2021	171
2020	5,314
2018 and Prior	2,446
Revolving	2,667
Total loans with credit quality measures	10,807
Commercial and industrial \| Mortgage Warehouse Lending
Internal risk grades of non-covered loans
Loans without credit quality measures	234,344
Commercial and industrial \| Loans Accounted At Fair Value
Internal risk grades of non-covered loans
Loans without credit quality measures	9,437
Construction and land development
Internal risk grades of non-covered loans
Total	1,084,951		980,896
Construction and land development \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	1,263
2022	2,466
2018 and Prior	957
Total loans with credit quality measures	4,686
Construction and land development \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	5,306
2022	14,048
2021	122
2020	53
Total loans with credit quality measures	19,529
Construction and land development \| Other.
Internal risk grades of non-covered loans
2023	(1)
2022	375
Total loans with credit quality measures	374
Construction and land development \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	512
2022	21,714
2021	7,725
2020	408
2019	850
2018 and Prior	2,956
Total loans with credit quality measures	34,165
Construction and land development \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	75,718
2022	338,646
2021	171,342
2020	32,119
2019	909
2018 and Prior	3,477
Revolving	40,251
Total loans with credit quality measures	662,462
Construction and land development \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	55,352
2022	233,869
2021	38,942
2020	14,303
2019	2,426
2018 and Prior	1,238
Revolving	15,546
Total loans with credit quality measures	361,676
Construction and land development \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2022	2,059
Total loans with credit quality measures	2,059
1 - 4 family residential
Internal risk grades of non-covered loans
Current period gross charge-offs, 2018 and prior	73
Allowance for loan and lease losses write-offs	73	15
Total	1,800,313		1,767,099
1 - 4 family residential \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2022	1,475
2021	710
2020	768
2019	408
2018 and Prior	24,602
Revolving	251
Total loans with credit quality measures	28,214
1 - 4 family residential \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	1,006
2022	20,158
2021	13,144
2020	8,313
2019	4,959
2018 and Prior	30,446
Revolving	1,214
Total loans with credit quality measures	79,240
1 - 4 family residential \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	59,086
2022	576,614
2021	776,329
2020	103,300
2019	43,510
2018 and Prior	70,756
Revolving	3,876
Loans Converted To Term Loans	59
Total loans with credit quality measures	1,633,530
1 - 4 family residential \| Substandard non-accrual
Internal risk grades of non-covered loans
2022	542
2018 and Prior	9,763
Total loans with credit quality measures	10,305
1 - 4 family residential \| Other.
Internal risk grades of non-covered loans
2023	1,955
2022	24,279
2021	15,595
2020	1,405
2019	2,317
2018 and Prior	3,469
Revolving	4
Total loans with credit quality measures	49,024
Consumer
Internal risk grades of non-covered loans
Current period gross charge-offs, 2022	54
Current period gross charge-offs, 2020	4
Current period gross charge-offs, 2019	2
Current period gross charge-offs, 2018 and prior	9
Allowance for loan and lease losses write-offs	69	$ 113
Total	26,802		27,602
Consumer \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2023	148
2022	1,101
2021	199
2020	100
2019	23
2018 and Prior	6
Revolving	357
Total loans with credit quality measures	1,934
Consumer \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	1,836
2022	2,868
2021	778
2020	451
2019	287
2018 and Prior	52
Revolving	1,940
Loans Converted To Term Loans	6
Total loans with credit quality measures	8,218
Consumer \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	849
2022	4,250
2021	1,304
2020	1,001
2019	276
2018 and Prior	47
Revolving	2,277
Total loans with credit quality measures	10,004
Consumer \| Substandard non-accrual
Internal risk grades of non-covered loans
2018 and Prior	12
Total loans with credit quality measures	12
Consumer \| Other.
Internal risk grades of non-covered loans
2023	1,508
2022	3,949
2021	560
2020	350
2019	77
2018 and Prior	17
Revolving	173
Total loans with credit quality measures	6,634
Broker-dealer
Internal risk grades of non-covered loans
Loans without credit quality measures	361,587
Total	$ 361,587		$ 431,223

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allowance for loan losses
Available for sale debt securities past due	$ 0
Available-for-sale allowance for credit loss	0
Provision (reversal) in allowance on individually evaluated loans	700	$ 300
Provision (reversal) in allowance on collectively evaluated loans	1,500	(200)
Net charge-offs	$ 400	$ 300
Minimum
Allowance for loan losses
Percentage of federal funds interest rate increase scenario	5%
Maximum
Allowance for loan losses
Percentage of federal funds interest rate increase scenario	5.25%

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	$ 95,442	$ 91,352
Provision for (Reversal of) Credit Losses	2,331	115
Loans Charged Off	(1,178)	(1,337)
Recoveries on Charged Off Loans	759	1,055
Balance, End of Period	97,354	91,185
Commercial real estate
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	63,255	59,354
Provision for (Reversal of) Credit Losses	(768)	975
Loans Charged Off	(977)
Recoveries on Charged Off Loans	11	32
Balance, End of Period	61,521	60,361
Commercial and industrial
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	16,035	21,982
Provision for (Reversal of) Credit Losses	(53)	(1,550)
Loans Charged Off	(59)	(1,209)
Recoveries on Charged Off Loans	692	907
Balance, End of Period	16,615	20,130
Construction and land development
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	6,051	4,674
Provision for (Reversal of) Credit Losses	(52)	841
Balance, End of Period	5,999	5,515
1 - 4 family residential
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	9,313	4,589
Provision for (Reversal of) Credit Losses	2,434	(247)
Loans Charged Off	(73)	(15)
Recoveries on Charged Off Loans	17	13
Balance, End of Period	11,691	4,340
Consumer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	554	578
Provision for (Reversal of) Credit Losses	39	(69)
Loans Charged Off	(69)	(113)
Recoveries on Charged Off Loans	39	103
Balance, End of Period	563	499
Broker-dealer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	234	175
Provision for (Reversal of) Credit Losses	731	165
Balance, End of Period	$ 965	$ 340

Allowance for Credit Losses - O

Allowance for Credit Losses - Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period	$ 7,784	$ 5,880
Other noninterest expense	(979)	607
Balance, end of period	$ 6,805	$ 6,487

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Change in fair value of mortgage servicing rights
Balance, beginning of year	$ 100,825
Balance, end of year	103,314		$ 100,825
MSR asset
Change in fair value of mortgage servicing rights
Balance, beginning of year	100,825	$ 86,990	86,990
Additions	13,210	7,301
Sales		(1,876)
Changes in fair value: Due to changes in model inputs or assumptions	(9,865)	10,856
Changes in fair value: Due to customer payoffs	(856)	(2,796)
Balance, end of year	103,314	$ 100,475	100,825
Mortgage loans serviced for others	$ 5,739,393		$ 5,144,558
MSR asset as a percentage of serviced mortgage loans	1.80%		1.96%
Key Assumptions
Weighted average constant prepayment rate (as a percent)	9.08%		8.14%
Weighted average discount rate (as a percent)	12.08%		12.10%
Weighted average life (in years)	7 years 10 months 24 days		8 years 4 months 24 days

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - MSR asset - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (3,738)		$ (3,288)
Constant prepayment rate: Impact of 20% adverse change	(7,228)		(6,375)
Discount rate: Impact of 10% adverse change	(4,680)		(4,797)
Discount rate: Impact of 20% adverse change	(8,938)		$ (9,147)
Contractually specified servicing fees, late fees and ancillary fees	$ 7,400	$ 8,500

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deposits
Noninterest-bearing demand	$ 3,807,878	$ 3,968,862
Interest-bearing:
Demand accounts	4,549,867	4,110,418
Brokered - demand	4,979	5,336
Money market	1,517,513	2,045,554
Brokered - money market	9,416	9,031
Savings	298,797	312,140
Time	908,697	864,408
Total deposits	11,097,147	$ 11,315,749
Time deposits that meet or exceed FDIC insurance limit	$ 408,400

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	3 Months Ended
Short-term Borrowings (Details) $ in Thousands	Mar. 31, 2023 USD ($) item	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Short-term borrowings
Short-term borrowings	$ 1,572,794		$ 970,056
Federal funds purchased
Short-term borrowings
Short-term borrowings	448,158		397,108
Securities sold under agreements to repurchase
Short-term borrowings
Short-term borrowings	363,478		297,856
Federal Home Loan Bank
Short-term borrowings
Short-term borrowings	450,000
Average balance during the period	$ 146,667
Average interest rate during the period	5.02%
Federal Home Loan Bank \| Maximum
Short-term borrowings
Maturity term of debt	365 days
Short-term bank loans
Short-term borrowings
Short-term borrowings	$ 84,000		57,500
Short-term bank loans \| Hilltop Broker-Dealers
Short-term borrowings
Weighted average interest rate on short-term bank loan borrowings (as a percent)	6%
Commercial paper
Short-term borrowings
Short-term borrowings	$ 227,158		$ 217,592
Number of commercial paper programs initiated \| item	2
Weighted average interest rate on short-term bank loan borrowings (as a percent)	5.57%
Weighted average remaining life	73 days
Debt instrument, collateral	$ 249,100
Commercial paper \| Minimum
Short-term borrowings
Maturity term of debt	14 days
Commercial paper \| Maximum
Short-term borrowings
Maturity term of debt	270 days
Commercial paper \| Weighted average
Short-term borrowings
Weighted average maturity term	137 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	$ 706,400	$ 429,000
Average interest rate during the period	4.81%	0.34%
Average interest rate at end of period (as a percent)	4.99%		4.37%
Securities underlying the agreements at end of period: Carrying value	$ 363,580		$ 296,075
Securities underlying the agreements at end of period: Estimated fair value	$ 391,040		$ 318,409
Federal Funds Purchased and Securities Sold under Agreements to Repurchase \| Minimum
Short-term borrowings
Maturity term of debt	1 day
Federal Funds Purchased and Securities Sold under Agreements to Repurchase \| Maximum
Short-term borrowings
Maturity term of debt	90 days

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument
Notes payable	$ 376,410	$ 346,654
Senior Notes due April 2025
Debt Instrument
Notes payable	149,349	149,301
Unamortized discount	651	699
Subordinated Notes due May 2030
Debt Instrument
Notes payable	49,414	49,390
Unamortized discount	586	610
Subordinated Notes Due May 2035
Debt Instrument
Notes payable	148,011	147,963
Unamortized discount	1,990	$ 2,037
Ventures Management lines of credit
Debt Instrument
Notes payable	$ 29,636

Lease - Supplemental balance sh

Lease - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(6,095)	(5,948)
Premises and equipment, net	$ 1,685	$ 1,832

Lease - Components of lease cos

Lease - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Components of operating lease costs
Operating lease cost	$ 8,729	$ 9,606
Less operating lease and sublease income	(633)	(569)
Net operating lease cost	8,096	9,037
Amortization of ROU assets	147	147
Interest on lease liabilities	112	124
Total finance lease cost	$ 259	$ 271

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases
Operating cash flows from operating leases	$ 10,024	$ 9,767
Operating cash flows from finance leases	113	125
Financing cash flows from finance leases	199	184
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 4,924	$ 1,276

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Mar. 31, 2023	Dec. 31, 2022
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 6 months	5 years 8 months 12 days
Finance - Weighted Average Remaining Lease Term (Years)	3 years 9 months 18 days	4 years
Operating - Weighted Average Discount Rate	4.05%	3.89%
Finance - Weighted Average Discount Rate	4.91%	4.89%

Lease - Lease maturities (Detai

Lease - Lease maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating leases maturities
2023	$ 26,160
2024	28,588
2025	21,979
2026	17,116
2027	13,593
Thereafter	29,336
Total minimum lease payments	136,772
Less amount representing interest	(13,894)
Lease liabilities	122,878	$ 126,759
Finance Leases maturities:
2023	968
2024	1,163
2025	886
2026	813
2027	448
Thereafter	149
Total minimum lease payments	4,427
Less amount representing interest	(1,222)
Lease liabilities	$ 3,205
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, 2023 USD ($)
Leases
Additional operating leases that have not yet commenced	$ 0.1
Expected to commence	3 years

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
Income Taxes - Narrative (Details)	Mar. 31, 2023	Mar. 31, 2022
Income Taxes
Effective income tax rate (as a percent)	11.60%	19.40%

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands		3 Months Ended
	Jun. 08, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Representation and Warranty Claims
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of period		$ 31,244	$ 31,407
Claims made		14,415	9,842
Claims resolved with no payment		(5,548)	(4,521)
Repurchases		(9,908)	(6,457)
Indemnification payments		(3,006)
Balance, end of period		27,197	30,271
Reserve for Indemnification Liability:
Total		27,197	30,271	$ 31,244
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses		300	500
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of period		20,528	27,424
Additions for new sales		347	753
Repurchases		(2,360)	(565)
Early payment defaults		(98)	(71)
Indemnification payments		(147)
Change in reserves for loans sold in prior years			(291)
Balance, end of period		18,270	27,250
Reserve for Indemnification Liability:
Specific claims		530		627
Incurred but not reported claims		17,740		19,901
Total		$ 18,270	$ 27,250	$ 20,528
Loss on Subordinated Bonds
Commitments and Contingencies
Damages sought	$ 13,000

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Details) $ in Millions	Mar. 31, 2023 USD ($)
Commitments to Extend Credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 2,400
Standby Letters of Credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 72

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
2020 Plan \| Director
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	5,101	5,064

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2020 Plan - RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of shares outstanding
Balance at the beginning of the period ( in shares) \| shares	1,548
Granted (in shares) \| shares	476
Vested/Released (in shares) \| shares	(578)
Balance at the end of the period ( in shares) \| shares	1,446
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) \| $ / shares	$ 28.09
Granted (in dollars per share) \| $ / shares	34.39
Vested/Released (in dollars per share) \| $ / shares	21.72
Balance at the end of the period (in dollars per share) \| $ / shares	$ 32.65

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2020 Plan - RSUs $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) shares
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)	99,176
Number of shares awarded (in shares)	476,000
Number of awards subject to time-based vesting (in shares)	1,071,584
Number of awards vesting upon achievement of performance goals (in shares)	374,299
Performance period	3 years
Vesting period	3 years
Unrecognized compensation expense \| $	$ 25.9
Weighted average period for unrecognized compensation expense (in years)	1 year 7 months 28 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	383,692
Number of awards subject to time-based vesting (in shares)	295,619
Number of awards vesting upon achievement of performance goals (in shares)	88,073
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, 2023 USD ($)	Dec. 31, 2022 USD ($)
Regulatory matters
Regulatory capital effects from CECL transitionary period	5 years
Plains Capital Bank
Tier 1 capital (to average assets)
Actual Amount	$ 1,418,348	$ 1,405,164
Actual Ratio	0.1069	0.1026
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.040
To Be Well Capitalized Minimum Capital Requirements, Ratio	0.050
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 1,418,348	$ 1,405,164
Actual Ratio	0.1497	0.1498
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.070
To Be Well Capitalized Minimum Capital Requirements, Ratio	0.065
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,418,348	$ 1,405,164
Actual Ratio	0.1497	0.1498
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.085
To Be Well Capitalized Minimum Capital Requirements, Ratio	0.080
Total capital (to risk-weighted assets)
Actual Amount	$ 1,511,156	$ 1,492,576
Actual Ratio	0.1594	0.1591
Minimum Capital Requirement Including Conservation Buffer fully phased-in ratio	0.105
To Be Well Capitalized Minimum Capital Requirements, Ratio	0.100
Hilltop
Tier 1 capital (to average assets)
Actual Amount	$ 1,910,810	$ 1,900,701
Actual Ratio	0.1182	0.1147
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.040
Common equity Tier 1 capital (to risk weighted assets)
Actual Amount	$ 1,910,810	$ 1,900,701
Actual Ratio	0.1799	0.1823
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.070
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,910,810	$ 1,900,701
Actual Ratio	0.1799	0.1823
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.085
Total capital (to risk-weighted assets)
Actual Amount	$ 2,204,120	$ 2,187,652
Actual Ratio	0.2075	0.2098
Minimum Capital Requirement Including Conservation Buffer fully phased-in ratio	0.105

Regulatory Matters - Net Capita

Regulatory Matters - Net Capital Position, Broker-Dealers (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 36,199	$ 67,737	$ 128,408
Hilltop Securities
Net Capital
Net capital	271,196
Less: required net capital	8,665
Excess net capital	$ 262,531
Net capital as a percentage of aggregate debit items	62.60%
Net capital in excess of 5% aggregate debt items	$ 249,533
Momentum Independent Network
Net Capital
Net capital	4,302
Less: required net capital	256
Excess net capital	4,046
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 36,200	$ 67,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Apr. 20, 2023	Mar. 31, 2023	Mar. 31, 2022	Jan. 31, 2023
Stockholders' Equity
Cash dividends declared per common share	$ 0.16	$ 0.16	$ 0.15
Cash dividends paid		$ 10,400	$ 11,800
Repurchase common stock authorized amount				$ 75,000
Repurchase of common stock (in shares)		144,403
Average price (per share)		$ 31.15
Payments to repurchase shares		$ 4,503

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Bank And PrimeLending [Member] \| Other Liabilities
Derivative financial instruments
Cash collateral advanced to offset net derivative assets	$ 55,000		$ 65,000
Not Designated as Hedging Instrument \| Prime Lending
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	4,897	$ 22,052
Not Designated as Hedging Instrument \| Hilltop Broker-Dealers
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	(21,180)	(1,327)
Not Designated as Hedging Instrument \| Plains Capital Bank
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	(12)	$ 29
Not Designated as Hedging Instrument \| PrimeLending and Hilltop Broker-Dealers \| Other Assets
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	5,600		10,600
Interest Rate Lock Commitments \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	772,675		506,278
Estimated Fair Value	12,481		1,767
Commitments to Purchase MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,163,144		819,681
Estimated Fair Value	5,313		2,435
Commitments to Sell MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	2,556,958		2,188,964
Estimated Fair Value	(22,272)		10,711
Commitments to Sell MBSs \| Not Designated as Hedging Instrument \| Prime Lending \| Other Assets
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	2,700		8,400
Interest rate swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	39,251		35,784
Estimated Fair Value	(2,201)		(1,421)
Interest rate swaps \| Designated as hedges
Derivative financial instruments
Available for sale securities and loans held for investment	290,600		322,500
Interest rate swaps \| Cash Flow Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	430,000		430,000
Estimated Fair Value	17,448		21,703
Interest rate swaps \| Fair Value Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	325,323		365,323
Estimated Fair Value	34,764		42,828
Cumulative adjustment in available for sale securities and loans held for investment	34,800		42,800
Interest rate and other futures \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,663,200		2,612,000
U.S. Treasury bond futures and options \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	334,200		395,500
Estimated Fair Value	5,205		(449)
Credit default swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	2,000		3,000
Estimated Fair Value	$ (9)		$ (2)

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 144,201	$ 118,070
Total
Gross Amounts of Recognized Assets	1,623,765	1,212,123
Gross Amounts Offset in the Balance Sheet	(402)	(3,916)
Net Amounts of Assets Presented in the Balance Sheet	1,623,363	1,208,207
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,528,630)	(1,089,776)
Cash Collateral Pledged	(54,855)	(64,630)
Net Amount	39,878	53,801
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,416,426	1,012,573
Net Amounts of Assets Presented in the Balance Sheet	1,416,426	1,012,573
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,379,628)	(964,517)
Net Amount	36,798	48,056
Interest rate swaps \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	52,349	64,729
Gross Amounts Offset in the Balance Sheet	(133)
Net Amounts of Assets Presented in the Balance Sheet	52,216	64,729
Gross Amounts Not Offset in the Balance Sheet
Cash Collateral Pledged	(54,970)	(64,630)
Net Amounts of Assets Presented in the Balance Sheet	(2,754)	99
Reverse repurchase agreements \| Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	144,201	118,070
Net Amounts of Assets Presented in the Balance Sheet	144,201	118,070
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(143,687)	(115,302)
Net Amount	514	2,768
Forward MBS Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	5,315	16,694
Gross Amounts Offset in the Balance Sheet		(3,410)
Net Amounts of Assets Presented in the Balance Sheet	5,315	13,284
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(5,315)	(9,957)
Net Amounts of Assets Presented in the Balance Sheet		3,327
Treasury Futures And Option Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	5,474	57
Gross Amounts Offset in the Balance Sheet	(269)	(506)
Net Amounts of Assets Presented in the Balance Sheet	5,205	(449)
Gross Amounts Not Offset in the Balance Sheet
Cash Collateral Pledged	115
Net Amounts of Assets Presented in the Balance Sheet	$ 5,320	$ (449)

Balance Sheet Offsetting - Liab

Balance Sheet Offsetting - Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Total
Gross Amounts of Recognized Liabilities	$ 1,691,344	$ 1,215,307
Gross Amounts Offset in the Balance Sheet	(872)
Net Amounts of Liabilities Presented in the Balance Sheet	1,690,472	1,215,307
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,647,893)	(1,192,512)
Cash Collateral Pledged	(2,678)
Net Amount	39,901	22,795
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,303,657	916,570
Net Amounts of Liabilities Presented in the Balance Sheets	1,303,657	916,570
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,269,221)	(871,037)
Net Amount	34,436	45,533
Institutional Counterparties \| Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities	2,205	1,619
Net Amounts of Liabilities Presented in the Balance Sheet	2,205	1,619
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(2,205)	(1,438)
Net Amount		181
Institutional Counterparties \| Credit default swaps
Derivatives:
Gross Amounts of Recognized Liabilities	9	2
Net Amounts of Liabilities Presented in the Balance Sheet	9	2
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(9)	(2)
Institutional Counterparties \| Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	362,327	296,978
Net Amounts of Liabilities Presented in the Balance Sheet	362,327	296,978
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(362,327)	(319,897)
Net Amount		(22,919)
Institutional Counterparties \| Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	23,146	138
Gross Amounts Offset in the Balance Sheet	(872)
Net Amounts of Liabilities Presented in the Balance Sheet	22,274	138
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(14,131)	$ (138)
Cash Collateral Pledged	(2,678)
Net Amount	$ 5,465

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Number of repurchase-to-maturity transactions outstanding \| item	0	0
Total borrowings	$ 1,665,984	$ 1,213,548
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 1,665,984	1,213,548
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	$ 1,552,987	1,047,186
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings		2,539
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	112,997	141,461
Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings		22,362
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	362,327	296,978
Assets-backed securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	249,330	130,616
Assets-backed securities \| Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions		2,539
Assets-backed securities \| Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	112,997	141,461
Assets-backed securities \| Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions		22,362
Corporate Debt Securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	113	113
Corporate Debt Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	113	113
Equity Securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	1,303,544	916,457
Equity Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,303,544	$ 916,457

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Receivables:
Securities borrowed	$ 1,416,426	$ 1,012,573
Securities failed to deliver	54,698	11,350
Trades in process of settlement	76,886	3,476
Other	12,236	10,656
Total receivables	1,560,246	1,038,055
Payables:
Securities loaned	1,303,657	916,570
Correspondents	21,693	22,760
Securities failed to receive	51,284	20,167
Other	6,683	6,973
Total Payables	$ 1,383,317	$ 966,470

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended
Segment and Related Information (Details) $ in Thousands	Mar. 31, 2023 USD ($) item segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
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)	$ 121,705	$ 99,991
Provision for (reversal of) credit losses	2,331	115
Noninterest income	162,494	216,428
Noninterest expense	250,470	286,350
Income before income taxes	31,398	29,954
Goodwill	267,447		$ 267,447
Total assets	17,029,087		16,259,282
Operating Segments \| Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	104,770	92,070
Provision for (reversal of) credit losses	1,600	(50)
Noninterest income	11,190	12,771
Noninterest expense	56,127	58,430
Income before income taxes	58,233	46,461
Goodwill	247,368		247,368
Total assets	13,694,346		13,420,110
Operating Segments \| Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	13,863	11,518
Provision for (reversal of) credit losses	731	165
Noninterest income	90,635	60,691
Noninterest expense	90,345	80,647
Income before income taxes	13,422	(8,603)
Goodwill	7,008		7,008
Total assets	3,067,104		2,672,709
Operating Segments \| Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(4,208)	(1,835)
Noninterest income	68,829	143,195
Noninterest expense	88,753	134,859
Income before income taxes	(24,132)	6,501
Goodwill	13,071		13,071
Total assets	1,304,450		1,249,284
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(3,322)	(3,389)
Noninterest income	2,704	1,766
Noninterest expense	15,513	12,793
Income before income taxes	(16,131)	(14,416)
Total assets	2,476,627		2,465,513
All Other and Eliminations
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	10,602	1,627
Noninterest income	(10,864)	(1,995)
Noninterest expense	(268)	(379)
Income before income taxes	6	$ 11
Total assets	$ (3,513,440)		$ (3,548,334)

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic earnings per share:
Income attributable to Hilltop	$ 25,800	$ 22,250
Weighted average shares outstanding - basic	64,901	79,114
Basic earnings per common share (in dollars per share)	$ 0.40	$ 0.28
Diluted earnings per share:
Income attributable to Hilltop	$ 25,800	$ 22,250
Weighted average shares outstanding - basic	64,901	79,114
Effect of potentially dilutive securities (in shares)	53	242
Weighted average shares outstanding - diluted	64,954	79,356
Diluted earnings per common share (in dollars per share)	$ 0.40	$ 0.28