Hilltop (HTH) 10-Q24 Jul 232023 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Jul. 21, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		65,091,808
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 1,584,709	$ 1,579,512
Federal funds sold	650	650
Assets segregated for regulatory purposes	50,711	67,737
Securities purchased under agreements to resell	143,982	118,070
Securities:
Trading, at fair value	696,649	755,032
Available for sale, at fair value, net (amortized cost of $1,658,036 and $1,788,557, respectively)	1,526,869	1,658,766
Held to maturity, at amortized cost, net (fair value of $755,186 and $785,335, respectively)	847,437	875,532
Equity, at fair value	258	200
Total securities	3,071,213	3,289,530
Loans held for sale	1,333,044	982,616
Loans held for investment, net of unearned income	8,354,122	8,092,673
Allowance for credit losses	(109,306)	(95,442)
Loans held for investment, net	8,244,816	7,997,231
Broker-dealer and clearing organization receivables	1,474,177	1,038,055
Premises and equipment, net	176,574	184,950
Operating lease right-of-use assets	97,979	102,443
Mortgage servicing rights	95,101	100,825
Other assets	588,166	518,899
Goodwill	267,447	267,447
Other intangible assets, net	9,772	11,317
Total assets	17,138,341	16,259,282
Deposits:
Noninterest-bearing	3,451,438	3,968,862
Interest-bearing	7,712,739	7,346,887
Total deposits	11,164,177	11,315,749
Broker-dealer and clearing organization payables	1,306,646	966,470
Short-term borrowings	1,628,637	970,056
Securities sold, not yet purchased, at fair value	74,761	53,023
Notes payable	364,531	346,654
Operating lease liabilities	119,999	126,759
Other liabilities	389,336	417,042
Total liabilities	15,048,087	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; 65,070,667 and 64,684,625 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	651	647
Additional paid-in capital	1,050,191	1,046,331
Accumulated other comprehensive loss	(131,718)	(133,531)
Retained earnings	1,144,624	1,123,636
Deferred compensation employee stock trust, net	450	481
Employee stock trust (21,126 and 22,566 shares, at cost, at June 30, 2023 and December 31, 2022, respectively)	(599)	(640)
Total Hilltop stockholders' equity	2,063,599	2,036,924
Noncontrolling interests	26,655	26,605
Total stockholders' equity	2,090,254	2,063,529
Total liabilities and stockholders' equity	$ 17,138,341	$ 16,259,282

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 1,658,036	$ 1,788,557
Held to maturity, Fair Value	$ 755,186	$ 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	65,070,667	64,684,625
Common stock, shares outstanding	65,070,667	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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest income:
Loans, including fees	$ 138,397	$ 98,728	$ 261,776	$ 189,136
Securities borrowed	18,515	10,498	35,583	19,315
Securities:
Taxable	26,719	17,288	52,321	32,869
Tax-exempt	2,566	2,141	5,754	4,560
Other	27,229	6,478	49,419	8,790
Total interest income	213,426	135,133	404,853	254,670
Interest expense:
Deposits	54,726	5,456	90,550	9,649
Securities loaned	16,413	8,512	31,759	15,984
Short-term borrowings	17,706	3,020	30,150	5,065
Notes payable	3,973	3,809	7,826	8,246
Other	2,342	2,280	4,597	3,679
Total interest expense	95,160	23,077	164,882	42,623
Net interest income	118,266	112,056	239,971	212,047
Provision for credit losses	14,836	5,336	17,167	5,451
Net interest income after provision for credit losses	103,430	106,720	222,804	206,596
Noninterest income:
Net gains from sale of loans and other mortgage production income	48,535	97,543	88,501	208,437
Mortgage loan origination fees	41,440	42,378	70,217	74,440
Securities commissions and fees	29,606	34,757	60,829	71,903
Investment and securities advisory fees and commissions	32,037	32,002	58,885	61,707
Other	39,034	32,593	74,714	39,214
Total noninterest income	190,652	239,273	353,146	455,701
Noninterest expense:
Employees' compensation and benefits	176,908	205,327	344,725	405,346
Occupancy and equipment, net	23,025	24,231	45,890	48,997
Professional services	12,594	16,246	23,291	26,309
Other	54,450	52,739	103,541	104,241
Total noninterest expense	266,977	298,543	517,447	584,893
Income (loss) before income taxes	27,105	47,450	58,503	77,404
Income tax expense	7,167	12,127	10,797	17,942
Net income	19,938	35,323	47,706	59,462
Less: Net income attributable to noncontrolling interest	1,805	2,063	3,773	3,952
Income attributable to Hilltop	$ 18,133	$ 33,260	$ 43,933	$ 55,510
Basic:
Basic (in dollars per share)	$ 0.28	$ 0.45	$ 0.68	$ 0.73
Diluted:
Diluted (in dollars per share)	$ 0.28	$ 0.45	$ 0.68	$ 0.73
Weighted average share information:
Basic (in shares)	65,025	73,693	64,963	76,389
Diluted (in shares)	65,054	73,838	64,993	76,569

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 19,938	$ 35,323	$ 47,706	$ 59,462
Other comprehensive income (loss):
Change in fair value of cash flow hedges, net taxes of $1,010, $808, $4 and $2,911, respectively	3,386	14,532	137	36,409
Net unrealized gains (losses) on securities available-for-sale, net taxes of $(3,308), $(8,804), $(148) and $(19,481), respectively	(11,097)	(31,775)	(1,234)	(67,318)
Reclassification adjustment for gains (losses) included in net income, net taxes of $1, $0, $1 and $3, respectively	6		6	10
Adjustment for unrealized losses on securities transferred from available-for-sale to held-to-maturity, net taxes of $0, $0, $0 and $(17,033), respectively				(56,690)
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity, net taxes of $435, $760, $873 and $760, respectively	1,447	2,529	2,904	2,529
Comprehensive income (loss)	13,680	20,609	49,519	(25,598)
Less: comprehensive income attributable to noncontrolling interest	1,805	2,063	3,773	3,952
Comprehensive income (loss) applicable to Hilltop	$ 11,875	$ 18,546	$ 45,746	$ (29,550)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Cash flow hedge, tax	$ 1,010	$ 808	$ 4	$ 2,911
Net unrealized gains (losses) on securities available for sale, tax	(3,308)	(8,804)	(148)	(19,481)
Reclassification adjustment, tax	1	0	1	3
Adjustment for unrealized losses on securities	0	0	0	(17,033)
Amortization of unrealized losses on securities	$ 435	$ 760	$ 873	$ 760

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	55,510				55,510			3,952	59,462
Other comprehensive income (loss)	(85,060)			(85,060)					(85,060)
Stock-based compensation expense	7,219		7,219						7,219
Common stock issued to board members	305		305						305
Common stock issued to board members (in shares)		11,000
Issuance of common stock related to share-based awards, net	(4,066)	$ 4	(4,070)						(4,066)
Issuance of common stock related to share-based awards, net (in shares)		469,000
Repurchases of common stock	(442,336)	$ (148)	(238,639)		(203,549)				(442,336)
Repurchases of common stock (in shares)		(14,869,000)
Dividends on common stock	(23,767)				(23,767)				(23,767)
Deferred compensation plan	(896)					(57)	$ (839)		(896)
Deferred compensation plan (in shares)							28,000
Net cash distributed to noncontrolling interest								(2,661)	(2,661)
Balance at Jun. 30, 2022	2,029,577	$ 646	1,039,261	(95,279)	1,085,208	695	$ (954)	27,826	2,057,403
Balance (in shares) at Jun. 30, 2022		64,576,000					34,000
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
Increase (Decrease) in Stockholders' Equity
Net income	33,260				33,260			2,063	35,323
Other comprehensive income (loss)	(14,714)			(14,714)					(14,714)
Stock-based compensation expense	2,105		2,105						2,105
Common stock issued to board members	153		153						153
Common stock issued to board members (in shares)		6,000
Issuance of common stock related to share-based awards, net	(7)		(7)						(7)
Repurchases of common stock	(442,336)	$ (148)	(238,639)		(203,549)				(442,336)
Repurchases of common stock (in shares)		(14,869,000)
Dividends on common stock	(11,918)				(11,918)				(11,918)
Deferred compensation plan	(899)					(49)	$ (850)		(899)
Deferred compensation plan (in shares)							29,000
Net cash distributed to noncontrolling interest								(899)	(899)
Balance at Jun. 30, 2022	2,029,577	$ 646	1,039,261	(95,279)	1,085,208	695	$ (954)	27,826	2,057,403
Balance (in shares) at Jun. 30, 2022		64,576,000					34,000
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	43,933				43,933			3,773	47,706
Other comprehensive income (loss)	1,813			1,813					1,813
Stock-based compensation expense	10,031		10,031						10,031
Common stock issued to board members	300		300						300
Common stock issued to board members (in shares)		10,000
Issuance of common stock related to share-based awards, net	(4,148)	$ 6	(4,154)						(4,148)
Issuance of common stock related to share-based awards, net (in shares)		521,000
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	(20,761)				(20,761)				$ (20,761)
Deferred compensation plan	10					(31)	$ 41		10
Deferred compensation plan (in shares)							(2,000)
Net cash distributed to noncontrolling interest								(3,723)	(3,723)
Balance at Jun. 30, 2023	2,063,599	$ 651	1,050,191	(131,718)	1,144,624	450	$ (599)	26,655	2,090,254
Balance (in shares) at Jun. 30, 2023		65,071,000					21,000
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
Increase (Decrease) in Stockholders' Equity
Net income	18,133				18,133			1,805	19,938
Other comprehensive income (loss)	(6,257)			(6,257)					(6,257)
Stock-based compensation expense	5,984		5,984						5,984
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	(716)	$ 1	(717)						(716)
Issuance of common stock related to share-based awards, net (in shares)		43,000
Dividends on common stock	(10,410)				(10,410)				(10,410)
Deferred compensation plan	4					4			4
Net cash distributed to noncontrolling interest								(2,237)	(2,237)
Balance at Jun. 30, 2023	$ 2,063,599	$ 651	$ 1,050,191	$ (131,718)	$ 1,144,624	$ 450	$ (599)	$ 26,655	$ 2,090,254
Balance (in shares) at Jun. 30, 2023		65,071,000					21,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares		3 Months Ended		6 Months Ended
	Jul. 20, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.16	$ 0.16	$ 0.15	$ 0.32	$ 0.30

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Activities
Net income	$ 47,706	$ 59,462
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	17,167	5,451
Depreciation, amortization and accretion, net	10,233	14,171
Deferred income taxes	4,684	2,585
Other, net	10,070	7,296
Net change in securities purchased under agreements to resell	(25,912)	(21,667)
Net change in trading securities	58,383	54,725
Net change in broker-dealer and clearing organization receivables	(364,344)	893,304
Net change in other assets	(44,250)	(1,432)
Net change in broker-dealer and clearing organization payables	326,331	(629,481)
Net change in other liabilities	(28,213)	(40,489)
Net change in securities sold, not yet purchased	21,738	39,382
Proceeds from sale of mortgage servicing rights asset	19,055	1,876
Change in valuation of mortgage servicing rights asset	6,769	(18,064)
Net gains from sales of loans	(88,501)	(208,437)
Loans originated for sale	(4,843,504)	(8,206,551)
Proceeds from loans sold	4,548,967	8,793,501
Net cash provided by (used in) operating activities	(323,621)	745,632
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	31,043	39,631
Proceeds from sales, maturities and principal reductions of securities available for sale	150,389	190,943
Purchases of securities held to maturity		(6,254)
Purchases of securities available for sale	(19,997)	(470,617)
Purchases of equity securities		(30)
Net change in loans held for investment	(334,149)	(316,887)
Purchases of premises and equipment and other assets	(3,594)	(4,559)
Proceeds from sales of premises and equipment and other real estate owned	1,985	1,803
Net cash paid to Federal Home Loan Bank and Federal Reserve Bank stock	(18,395)	(144)
Net cash used in investing activities	(192,718)	(566,114)
Financing Activities
Net change in deposits	(137,727)	(810,292)
Net change in short-term borrowings	658,148	(37,200)
Proceeds from notes payable	322,215	412,421
Payments on notes payable	(304,580)	(410,832)
Payments to repurchase common stock	(4,503)	(442,336)
Dividends paid on common stock	(20,761)	(23,767)
Net cash distributed to noncontrolling interest	(3,723)	(2,661)
Other, net	(4,559)	(5,363)
Net cash provided by (used in) financing activities	504,510	(1,320,030)
Net change in cash, cash equivalents and restricted cash	(11,829)	(1,140,512)
Cash, cash equivalents and restricted cash, beginning of period	1,647,899	3,045,263
Cash, cash equivalents and restricted cash, end of period	1,636,070	1,904,751
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	160,333	42,273
Cash paid for income taxes, net of refunds	14,767	6,840
Supplemental Schedule of Non-Cash Activities
Conversion of loans to other real estate owned	3,142	179
Additions to mortgage servicing rights	$ 20,100	$ 18,510

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 1,584,709	$ 1,579,512	$ 1,783,554
Federal funds sold	650	650	381
Assets segregated for regulatory purposes	50,711	67,737	120,816
Total cash, cash equivalents and restricted cash	$ 1,636,070	$ 1,647,899	$ 1,904,751	$ 3,045,263

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	6 Months Ended
Summary of Significant Accounting and Reporting Policies	Jun. 30, 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	6 Months Ended
Recently Issued Accounting Standards	Jun. 30, 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	6 Months Ended
Fair Value Measurements	Jun. 30, 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 June 30, 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 $1.18 billion and $855.7 million, respectively, and the unpaid principal balance of those loans was $1.18 billion 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 June 30, 2023 Inputs Inputs Inputs Fair Value Trading securities $ 7,546 $ 689,103 $ — $ 696,649 Available for sale securities — 1,526,869 — 1,526,869 Equity securities 258 — — 258 Loans held for sale — 1,139,035 41,292 1,180,327 Loans held for investment — — 9,714 9,714 Derivative assets — 85,053 — 85,053 MSR asset — — 95,101 95,101 Securities sold, not yet purchased 47,787 26,974 — 74,761 Derivative liabilities — 15,188 — 15,188 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 June 30, 2023 Loans held for sale $ 33,993 $ 20,712 $ (7,275) $ — $ (6,138) $ — $ 41,292 Loans held for investment 9,437 — — — 277 — 9,714 MSR asset 103,314 6,890 (19,055) — 3,952 — 95,101 Total $ 146,744 $ 27,602 $ (26,330) $ — $ (1,909) $ — $ 146,107 Six months ended June 30, 2023 Loans held for sale $ 40,707 $ 37,508 $ (30,729) $ (446) $ (5,748) $ — $ 41,292 Loans held for investment 9,181 — — — 533 — 9,714 MSR asset 100,825 20,100 (19,055) — (6,769) — 95,101 Total $ 150,713 $ 57,608 $ (49,784) $ (446) $ (11,984) $ — $ 146,107 Three months ended June 30, 2022 Loans held for sale $ 45,977 $ 13,456 $ (12,090) $ 1,094 $ (6,705) $ — $ 41,732 Loans held for investment 9,611 — (562) — (22) — 9,027 MSR asset 100,475 11,210 — — 10,003 — 121,688 Total $ 156,063 $ 24,666 $ (12,652) $ 1,094 $ 3,276 $ — $ 172,447 Six months ended June 30, 2022 Loans held for sale $ 47,716 $ 20,442 $ (24,748) $ 5,838 $ (7,516) $ — $ 41,732 Loans held for investment — 9,611 (562) — (22) — 9,027 MSR asset 86,990 18,510 (1,876) — 18,064 — 121,688 Total $ 134,706 $ 48,563 $ (27,186) $ 5,838 $ 10,526 $ — $ 172,447 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 June 30, 2023. For material Level 3 financial instruments measured at fair value on a recurring basis at June 30, 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 June 30, 2023 December 31, 2022 Loans held for sale Market comparable Projected price 82 - 90 % ( 83 %) 88 - 95 % ( 89 %) Loans held for investment Discounted cash flow Discount rate 11.50 % 11.88 % MSR asset Discounted cash flow Constant prepayment rate 8.49 % 8.14 % Discount rate 11.71 % 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 June 30, 2023 Three Months Ended June 30, 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 $ (12,366) $ — $ (12,366) $ 14,862 $ — $ 14,862 Loans held for investment — — — (283) — (283) MSR asset 3,952 — 3,952 10,003 — 10,003 Six Months Ended June 30, 2023 Six Months Ended June 30, 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 $ (2,233) $ — $ (2,233) $ (35,994) $ — $ (35,994) Loans held for investment — — — (283) — (283) MSR asset (6,769) — (6,769) 18,064 — 18,064 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 June 30, 2023 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,585,359 $ 1,585,359 $ — $ — $ 1,585,359 Assets segregated for regulatory purposes 50,711 50,711 — — 50,711 Securities purchased under agreements to resell 143,982 — 143,982 — 143,982 Held to maturity securities 847,437 — 755,186 — 755,186 Loans held for sale 152,717 — 121,186 32,477 153,663 Loans held for investment, net 8,235,102 — 359,444 7,836,335 8,195,779 Broker-dealer and clearing organization receivables 1,474,177 — 1,474,177 — 1,474,177 Other assets 77,919 — 76,253 1,666 77,919 Financial liabilities: Deposits 11,164,177 — 11,145,156 — 11,145,156 Broker-dealer and clearing organization payables 1,306,646 — 1,306,646 — 1,306,646 Short-term borrowings 1,628,637 — 1,628,637 — 1,628,637 Debt 364,531 — 344,720 — 344,720 Other liabilities 9,766 — 9,766 — 9,766 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 $53.9 million and $57.6 million at June 30, 2023 and December 31, 2022, respectively, which are included within other assets in the consolidated balance sheets. Of the $53.9 million of such equity investments held at June 30, 2023, $22.7 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 22,507 $ 27,986 $ 27,264 $ 16,817 Additional investments — — — 11,000 Upward adjustments 182 231 425 445 Impairments and downward adjustments (35) (34) (5,035) (79) Balance, end of period $ 22,654 $ 28,183 $ 22,654 $ 28,183

Securities

Securities	6 Months Ended
Securities	Jun. 30, 2023
Securities
Securities	4. Securities The fair value of trading securities is summarized as follows (in thousands). June 30, December 31, 2023 2022 U.S. Treasury securities $ 7,481 $ 10,466 U.S. government agencies: Bonds 20,545 20,878 Residential mortgage-backed securities 262,410 214,100 Collateralized mortgage obligations 83,564 182,717 Corporate debt securities 56,739 42,685 States and political subdivisions 229,705 260,271 Private-label securitized product 29,627 9,265 Other 6,578 14,650 Totals $ 696,649 $ 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 $74.8 million and $53.0 million at June 30, 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 June 30, 2023 Cost Gains Losses Fair Value U.S. Treasury securities $ 4,982 $ — $ (492) $ 4,490 U.S. government agencies: Bonds 173,688 190 (1,383) 172,495 Residential mortgage-backed securities 421,362 — (47,423) 373,939 Commercial mortgage-backed securities 183,708 56 (8,635) 175,129 Collateralized mortgage obligations 834,844 38 (70,012) 764,870 States and political subdivisions 39,452 50 (3,556) 35,946 Totals $ 1,658,036 $ 334 $ (131,501) $ 1,526,869 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 June 30, 2023 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 289,806 $ — $ (28,471) $ 261,335 Commercial mortgage-backed securities 180,109 — (15,529) 164,580 Collateralized mortgage obligations 299,519 — (41,390) 258,129 States and political subdivisions 78,003 78 (6,939) 71,142 Totals $ 847,437 $ 78 $ (92,329) $ 755,186 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 June 30, 2023 and December 31, 2022, respectively, from equity securities with fair values of $0.3 million and $0.2 million held at June 30, 2023 and December 31, 2022, respectively. The Company recognized net gains of $0.1 million and net losses of $0.1 million during the three months ended June 30, 2023 and 2022, respectively, and recognized net gains of $0.1 million and net losses of $0.1 million during the six months ended June 30, 2023 and 2022, respectively, due to changes in the fair value of equity securities still held at the balance sheet date. During the three and six months ended June 30, 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). June 30, 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 4,490 492 1 4,465 514 1 4,490 492 1 4,465 514 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 23 147,011 1,082 15 98,246 388 Unrealized loss for twelve months or longer 3 14,196 301 3 15,263 512 26 161,207 1,383 18 113,509 900 Residential mortgage-backed securities: Unrealized loss for less than twelve months 45 66,246 3,304 95 168,351 10,036 Unrealized loss for twelve months or longer 82 307,692 44,119 30 236,739 38,739 127 373,938 47,423 125 405,090 48,775 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 5 29,845 1,351 11 79,337 2,047 Unrealized loss for twelve months or longer 14 140,501 7,284 8 86,923 5,785 19 170,346 8,635 19 166,260 7,832 Collateralized mortgage obligations: Unrealized loss for less than twelve months 20 119,282 4,823 97 563,872 30,980 Unrealized loss for twelve months or longer 123 632,286 65,189 48 244,917 37,647 143 751,568 70,012 145 808,789 68,627 States and political subdivisions: Unrealized loss for less than twelve months 27 11,546 204 34 20,555 964 Unrealized loss for twelve months or longer 34 16,032 3,352 29 7,892 2,639 61 27,578 3,556 63 28,447 3,603 Total available for sale: Unrealized loss for less than twelve months 120 373,930 10,764 252 930,361 44,415 Unrealized loss for twelve months or longer 257 1,115,197 120,737 119 596,199 85,836 377 $ 1,489,127 $ 131,501 371 $ 1,526,560 $ 130,251 June 30, 2023 December 31, 2022 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Held to Maturity U.S. government agencies: Residential mortgage-backed securities: Unrealized loss for less than twelve months — $ — $ — 14 $ 59,089 $ 5,928 Unrealized loss for twelve months or longer 41 261,335 28,471 31 212,768 23,799 41 261,335 28,471 45 271,857 29,727 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 3 10,627 434 30 163,172 14,483 Unrealized loss for twelve months or longer 28 153,952 15,095 1 2,834 452 31 164,579 15,529 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 54 258,128 41,390 38 242,527 35,118 54 258,128 41,390 56 276,363 38,343 States and political subdivisions: Unrealized loss for less than twelve months 55 24,153 701 150 59,459 5,362 Unrealized loss for twelve months or longer 118 39,730 6,238 27 8,093 1,856 173 63,883 6,939 177 67,552 7,218 Total held to maturity: Unrealized loss for less than twelve months 58 34,780 1,135 212 315,556 28,998 Unrealized loss for twelve months or longer 241 713,145 91,194 97 466,222 61,225 299 $ 747,925 $ 92,329 309 $ 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 June 30, 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 $ 11,547 $ 11,271 $ 882 $ 881 Due after one year through five years 74,378 73,073 1,308 1,231 Due after five years through ten years 61,678 61,140 28,303 26,623 Due after ten years 70,519 67,447 47,510 42,407 218,122 212,931 78,003 71,142 Residential mortgage-backed securities 421,362 373,939 289,806 261,335 Commercial mortgage-backed securities 183,708 175,129 180,109 164,580 Collateralized mortgage obligations 834,844 764,870 299,519 258,129 $ 1,658,036 $ 1,526,869 $ 847,437 $ 755,186 The Company recognized net gains of $9.2 million and $6.8 million from its trading portfolio during the three months ended June 30, 2023 and 2022, respectively, and net gains of $19.7 million and net losses of $4.7 million during the six months ended June 30, 2023 and 2022, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $11.3 million and $2.4 million during the three months ended June 30, 2023 and 2022, respectively, and net gains from structured product trading activities of $43.9 million and $9.1 million during the six months ended June 30, 2023 and 2022, respectively. The Company had nominal other realized gains and losses on securities during the three and six months ended June 30, 2023 and 2022, respectively. 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 $640.0 million and $778.6 million (with a fair value of $594.1 million and $717.6 million, respectively) at June 30, 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 June 30, 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	6 Months Ended
Loans Held for Investment	Jun. 30, 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). June 30, December 31, 2023 2022 Commercial real estate $ 3,275,910 $ 3,245,873 Commercial and industrial 1,797,639 1,639,980 Construction and land development 1,083,103 980,896 1-4 family residential 1,811,362 1,767,099 Consumer 26,664 27,602 Broker-dealer (1) 359,444 431,223 8,354,122 8,092,673 Allowance for credit losses (109,306) (95,442) Total loans held for investment, net of allowance $ 8,244,816 $ 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 June 30, 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 $ 8,003 $ — $ 34 $ 8,037 $ 1,862,164 $ 1,870,201 $ — Owner occupied 4,964 2,247 12 7,223 1,398,486 1,405,709 — Commercial and industrial 14,002 59 4,641 18,702 1,778,937 1,797,639 49 Construction and land development 1,647 — — 1,647 1,081,456 1,083,103 — 1-4 family residential 3,097 1,506 3,338 7,941 1,803,421 1,811,362 1 Consumer 47 1 9 57 26,607 26,664 1 Broker-dealer — — — — 359,444 359,444 — $ 31,760 $ 3,813 $ 8,034 $ 43,607 $ 8,310,515 $ 8,354,122 $ 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 $130.0 million and $92.0 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $130.3 million and $92.4 million, respectively) that were 90 days past due and accruing interest at June 30, 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. The following table provides details associated with non-accrual loans, excluding those classified as held for sale (in thousands). Non-accrual Loans June 30, 2023 December 31, 2022 Interest Income Recognized With With No With With No Three Months Ended June 30, Six Months Ended June 30, Allowance Allowance Total Allowance Allowance Total 2023 2022 2023 2022 Commercial real estate: Non-owner occupied $ 472 $ 1,984 $ 2,456 $ 688 $ 562 $ 1,250 $ 58 $ 60 $ 181 $ 157 Owner occupied 767 329 1,096 2,862 157 3,019 261 334 324 417 Commercial and industrial 582 20,860 21,442 3,727 5,368 9,095 138 439 269 627 Construction and land development 395 — 395 1 — 1 29 8 36 15 1-4 family residential 407 9,390 9,797 433 10,862 11,295 379 1,304 835 1,725 Consumer 9 — 9 14 — 14 — — — — Broker-dealer — — — — — — — — — — $ 2,632 $ 32,563 $ 35,195 $ 7,725 $ 16,949 $ 24,674 $ 865 $ 2,145 $ 1,645 $ 2,941 At June 30, 2023 and December 31, 2022, $3.8 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. As shown in the table above, loans accounted for on a non-accrual basis increased from December 31, 2022 to June 30, 2023 by $10.5 million. The change in non-accrual loans was primarily due to increases in commercial and industrial loans of $12.3 million, partially offset by decreases in 1-4 family residential loans of $1.5 million and commercial real estate owner occupied loans of $1.9 million. The increase in commercial and industrial loans was primarily due to the addition of two relationships with an aggregate loan balance of $14.2 million to non-accrual status since December 31, 2022, partially offset by principal paydowns. The decrease in commercial real estate owner occupied loans in non-accrual status since December 31, 2022 was primarily due to the foreclosure of one office property in Texas. 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 June 30, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 43,538 $ — $ — 2.3 % Owner occupied — 2,214 — — 0.2 % Commercial and industrial — 11,383 — 2,960 0.8 % Construction and land development — 308 — — 0.0 % 1-4 family residential — — — — — % Consumer — — — — — % Broker-Dealer — — — — — % Total $ — $ 57,443 $ — $ 2,960 0.7 % 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 June 30, 2023 (in months) Commercial real estate: Non-owner occupied 25 Owner occupied 35 Commercial and industrial 8 Construction and land development 9 1-4 family residential — Consumer — Broker-Dealer — Total 22 There were no loans that have been modified during the six months ended June 30, 2023 for which a payment was at least 30 days past due. Troubled Debt Restructurings During the three months ended June 30, 2022 there were two TDRs granted with a balance at date of extension of $3.0 million and a balance at June 30, 2022 of $3.0 million. During the six months ended June 30, 2022 there were three TDRs granted with a balance at date of extension of $3.6 million and a balance at June 30, 2022 of $3.1 million. The Bank had no unadvanced commitments to borrowers whose loans had been restructured in TDRs at June 30, 2022. There were no TDRs granted during the twelve months preceding June 30, 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 June 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Term Loans Total Commercial real estate: non-owner occupied Internal Grade 1-3 (Pass low risk) $ 657 $ 37,424 $ 33,322 $ 8,877 $ 7,813 $ 6,905 $ 51 $ 194 $ 95,243 Internal Grade 4-7 (Pass normal risk) 90,911 298,895 395,438 128,334 75,641 61,348 33,100 1,807 1,085,474 Internal Grade 8-11 (Pass high risk and watch) 54,971 150,585 112,274 92,970 55,209 114,396 14,676 847 595,928 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) 55,940 11,797 14,550 1,600 6,078 1,135 — — 91,100 Internal Grade 14 (Substandard non-accrual) — 1,442 385 — — 629 — — 2,456 Current period gross charge-offs — — — — — — — — — Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 34,739 $ 20,200 $ 110,795 $ 53,924 $ 17,513 $ 62,379 $ 2,802 $ 14,710 $ 317,062 Internal Grade 4-7 (Pass normal risk) 55,489 177,783 148,245 86,997 73,217 124,323 16,804 — 682,858 Internal Grade 8-11 (Pass high risk and watch) 21,336 89,184 78,420 79,419 20,976 70,269 5,921 1,514 367,039 Internal Grade 12 (Special mention) — — — 638 2,781 — — — 3,419 Internal Grade 13 (Substandard accrual) 2,351 7,307 2,773 6,894 1,470 13,274 166 — 34,235 Internal Grade 14 (Substandard non-accrual) — 172 663 — — 261 — — 1,096 Current period gross charge-offs — — — — — 977 — — 977 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 10,502 $ 31,296 $ 32,937 $ 20,027 $ 20,541 $ 2,649 $ 27,000 $ — $ 144,952 Internal Grade 4-7 (Pass normal risk) 45,580 114,639 140,978 36,366 6,126 15,881 300,172 256 659,998 Internal Grade 8-11 (Pass high risk and watch) 63,626 114,686 38,346 31,942 9,237 9,175 293,752 2,465 563,229 Internal Grade 12 (Special mention) — — 140 — — — 79 — 219 Internal Grade 13 (Substandard accrual) 3,897 2,008 4,789 4,276 5,029 5,306 15,815 26,583 67,703 Internal Grade 14 (Substandard non-accrual) 84 177 162 4,616 — 2,258 10,380 3,765 21,442 Current period gross charge-offs 53 3,001 — — 25 — — — 3,079 Construction and land development Internal Grade 1-3 (Pass low risk) $ 1,729 $ 20,641 $ 10,639 $ 406 $ 833 $ 2,376 $ — $ — $ 36,624 Internal Grade 4-7 (Pass normal risk) 164,313 322,044 107,413 28,527 892 1,860 43,545 — 668,594 Internal Grade 8-11 (Pass high risk and watch) 99,990 173,112 52,808 4,417 2,399 210 9,021 — 341,957 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) — — — 10,560 — — — — 10,560 Internal Grade 14 (Substandard non-accrual) — 395 — — — — — — 395 Current period gross charge-offs — — — — — — — — — Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 87 2,717 — — — 946 — — 3,750 FICO greater than 720 11,638 9,288 122 52 — — — — 21,100 Substandard non-accrual — — — — — — — — — Other (1) 96 27 — — — — — — 123 Current period gross charge-offs — — — — — — — — — 1-4 family residential FICO less than 620 $ 151 $ 1,464 $ 658 $ 762 $ 278 $ 24,061 $ 244 $ — $ 27,618 FICO between 620 and 720 2,752 16,849 12,901 6,828 4,880 27,801 1,749 — 73,760 FICO greater than 720 116,871 558,654 762,069 96,884 42,182 64,146 3,664 636 1,645,106 Substandard non-accrual — 537 — — — 9,260 — — 9,797 Other (1) 13,160 22,735 12,015 1,395 2,278 3,121 377 — 55,081 Current period gross charge-offs — — — — — 73 — — 73 Consumer FICO less than 620 $ 561 $ 609 $ 158 $ 93 $ 19 $ 5 $ 366 $ 2 $ 1,813 FICO between 620 and 720 2,406 2,351 633 391 220 44 1,966 8 8,019 FICO greater than 720 1,679 3,662 1,151 813 154 10 2,454 1 9,924 Substandard non-accrual — — — — — 9 — — 9 Other (1) 2,796 3,049 486 328 72 16 152 — 6,899 Current period gross charge-offs 44 54 6 5 2 11 — — 122 Total loans with credit quality measures $ 858,312 $ 2,195,729 $ 2,075,270 $ 708,336 $ 355,838 $ 624,053 $ 784,256 $ 52,788 $ 7,654,582 Commercial and industrial (mortgage warehouse lending) $ 330,382 Commercial and industrial (loans accounted for at fair value) $ 9,714 Broker-Dealer (margin loans and correspondent receivables) $ 359,444 Total loans held for investment $ 8,354,122 (1) Loans classified in this category were assigned a FICO score for credit modeling purposes.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
Allowance for Credit Losses	Jun. 30, 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 June 30, 2023. In addition, as of June 30, 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 June 30, 2023. While the Company believes it has an appropriate allowance for the existing loan portfolio at June 30, 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 June 30, 2023, the Company utilized a single macroeconomic alternative scenario, or S7, published by Moody’s Analytics in June 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 starting in the first quarter of 2024. Federal Reserve monetary policy maintains the elevated interest rates to a federal funds rate at the baseline target range of 5% to 5.25% into the third and fourth quarters 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 and six months ended June 30, 2022, the increases in the allowance reflected a deteriorating U.S economic outlook, partially offset by decreases in specific reserves and positive risk rating grade migration. The net impact to the allowance of changes associated with individually evaluated loans during the three and six months ended June 30, 2022 included a reversal of credit losses of $1.3 million and $1.0 million, respectively, while collectively evaluated loans included a provision for credit losses of $6.6 million and $6.4 million, respectively. The changes in the allowance for credit losses during the noted periods 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 and six months ended June 30, 2022 were also impacted by net charge-offs of $1.2 million and $1.5 million, respectively. During the three and six months ended June 30, 2023, the provision for credit losses reflected a significant build in the allowance related to loan portfolio changes since the prior quarter and a deteriorating outlook for commercial real estate markets. The net impact to the allowance of changes associated with collectively evaluated loans during the three and six months ended June 30, 2023 included a provision for credit losses on collectively evaluated loans at the Bank of $12.9 million and $14.5 million, respectively, while the net impact to the allowance of changes associated with individually evaluated loans during the three and six months ended June 30, 2023 included a provision for credit losses of $1.9 million and $2.7 million, respectively. The changes in the allowance for credit losses during the noted periods 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 and six months ended June 30, 2023 were also impacted by net charge-offs of $2.9 million and $3.3 million, respectively. 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 June 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 61,521 $ 9,921 $ — $ 20 $ 71,462 Commercial and industrial 16,615 3,632 (3,020) 88 17,315 Construction and land development 5,999 1,396 — — 7,395 1-4 family residential 11,691 (108) — 35 11,618 Consumer 563 59 (53) 46 615 Broker-dealer 965 (64) — — 901 Total $ 97,354 $ 14,836 $ (3,073) $ 189 $ 109,306 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Six Months Ended June 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,255 $ 9,153 $ (977) $ 31 $ 71,462 Commercial and industrial 16,035 3,579 (3,079) 780 17,315 Construction and land development 6,051 1,344 — — 7,395 1-4 family residential 9,313 2,326 (73) 52 11,618 Consumer 554 98 (122) 85 615 Broker-dealer 234 667 — — 901 Total $ 95,442 $ 17,167 $ (4,251) $ 948 $ 109,306 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended June 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 60,361 $ 3,347 $ — $ 11 $ 63,719 Commercial and industrial 20,130 871 (1,892) 727 19,836 Construction and land development 5,515 (519) — — 4,996 1-4 family residential 4,340 1,212 (33) 35 5,554 Consumer 499 114 (99) 28 542 Broker-dealer 340 311 — — 651 Total $ 91,185 $ 5,336 $ (2,024) $ 801 $ 95,298 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Six Months Ended June 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 59,354 $ 4,322 $ — $ 43 $ 63,719 Commercial and industrial 21,982 (679) (3,101) 1,634 19,836 Construction and land development 4,674 322 — — 4,996 1-4 family residential 4,589 965 (48) 48 5,554 Consumer 578 45 (212) 131 542 Broker-dealer 175 476 — — 651 Total $ 91,352 $ 5,451 $ (3,361) $ 1,856 $ 95,298 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 6,805 $ 6,487 $ 7,784 $ 5,880 Other noninterest expense 1,187 444 208 1,051 Balance, end of period $ 7,992 $ 6,931 $ 7,992 $ 6,931 During the three and six months ended June 30, 2022, the increases in the reserve for unfunded commitments were primarily due to increases in both loan expected loss rates and available commitment balances. During the three and six months ended June 30, 2023, the increases in the reserve for unfunded commitments were primarily due to increases in expected loss rates.

Mortgage Servicing Rights

Mortgage Servicing Rights	6 Months Ended
Mortgage Servicing Rights	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 103,314 $ 100,475 $ 100,825 $ 86,990 Additions 6,890 11,210 20,100 18,510 Sales (19,055) — (19,055) (1,876) Changes in fair value: Due to changes in model inputs or assumptions (1) 5,326 13,237 (4,539) 24,093 Due to customer payoffs (1,374) (3,234) (2,230) (6,029) Balance, end of period $ 95,101 $ 121,688 $ 95,101 $ 121,688 June 30, December 31, 2023 2022 Mortgage loans serviced for others (2) $ 4,986,261 $ 5,144,558 MSR asset as a percentage of serviced mortgage loans 1.91 % 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. June 30, December 31, 2023 2022 Weighted average constant prepayment rate 8.49 % 8.14 % Weighted average discount rate 11.71 % 12.10 % Weighted average life (in years) 8.3 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). June 30, December 31, 2023 2022 Constant prepayment rate: Impact of 10% adverse change $ (3,288) $ (3,288) Impact of 20% adverse change (6,362) (6,375) Discount rate: Impact of 10% adverse change (4,404) (4,797) Impact of 20% adverse change (8,404) (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 $8.3 million and $8.9 million during the three months ended June 30, 2023 and 2022, respectively, and $15.6 million and $17.5 million during the six months ended June 30, 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	6 Months Ended
Deposits	Jun. 30, 2023
Deposits
Deposits	8. Deposits Deposits are summarized as follows (in thousands). June 30, December 31, 2023 2022 Noninterest-bearing demand $ 3,451,438 $ 3,968,862 Interest-bearing: Demand accounts 3,990,812 4,110,418 Brokered - demand 305,920 5,336 Money market 2,025,849 2,045,554 Brokered - money market 9,813 9,031 Savings 281,699 312,140 Time 1,007,315 864,408 Brokered - time 91,331 — $ 11,164,177 $ 11,315,749 At June 30, 2023, remaining maturities of estimated uninsured time deposits greater than $250,000 were $414.3 million.

Short-term Borrowings

Short-term Borrowings	6 Months Ended
Short-term Borrowings	Jun. 30, 2023
Short-term Borrowings
Short-term Borrowings	9. Short-term Borrowings Short-term borrowings are summarized as follows (in thousands). June 30, December 31, 2023 2022 Federal funds purchased $ 438,908 $ 397,108 Securities sold under agreements to repurchase 402,594 297,856 Federal Home Loan Bank 500,000 — Short-term bank loans 78,000 57,500 Commercial paper 209,135 217,592 $ 1,628,637 $ 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). Six Months Ended June 30, 2023 2022 Average balance during the period $ 768,514 $ 477,533 Average interest rate during the period 5.16 % 0.67 % June 30, December 31, 2023 2022 Average interest rate at end of period 5.38 % 4.37 % Securities underlying the agreements at end of period: Carrying value $ 402,714 $ 296,075 Estimated fair value $ 431,244 $ 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). Six Months Ended June 30, 2023 2022 Average balance during the period $ 252,901 $ — Average interest rate during the period 5.05 % — % June 30, December 31, 2023 2022 Average interest rate at end of period 5.35 % — % 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 June 30, 2023 was 6.26%. 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 June 30, 2023, the weighted average maturity of the CP Notes was 141 days at a rate of 5.99%, with a weighted average remaining life of 73 days. At June 30, 2023, the aggregate amount outstanding under these secured arrangements was $209.1 million, which was collateralized by securities held for Hilltop Securities accounts valued at $230.7 million.

Notes Payable

Notes Payable	6 Months Ended
Notes Payable	Jun. 30, 2023
Notes Payable
Notes Payable	10. Notes Payable Notes payable consisted of the following (in thousands). June 30, December 31, 2023 2022 Senior Notes due April 2025, net of discount of $602 and $699, respectively $ 149,398 $ 149,301 Subordinated Notes due May 2030, net of discount of $561 and $610, respectively 49,439 49,390 Subordinated Notes due May 2035, net of discount of $1,941 and $2,037, respectively 148,059 147,963 Ventures Management lines of credit 17,635 — $ 364,531 $ 346,654

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2023
Leases
Leases	11. Leases Supplemental balance sheet information related to finance leases is as follows (in thousands). June 30, December 31, 2023 2022 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (6,243) (5,948) Premises and equipment, net $ 1,537 $ 1,832 The components of lease costs, including short-term lease costs, are as follows (in thousands). Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease cost $ 9,015 $ 9,352 $ 17,744 $ 18,958 Less operating lease and sublease income (678) (561) (1,311) (1,130) Net operating lease cost $ 8,337 $ 8,791 $ 16,433 $ 17,828 Finance lease cost: Amortization of ROU assets $ 147 $ 147 $ 295 $ 295 Interest on lease liabilities 108 121 220 245 Total finance lease cost $ 255 $ 268 $ 515 $ 540 Supplemental cash flow information related to leases is as follows (in thousands). Six Months Ended June 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,150 $ 18,713 Operating cash flows from finance leases 222 247 Financing cash flows from finance leases 409 372 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 9,559 $ 8,266 Finance leases — — Information regarding the lease terms and discount rates of the Company’s leases is as follows. June 30, 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 4.35 % 5.7 3.89 % Finance 3.6 4.93 % 4.0 4.89 % Future minimum lease payments under lease agreements as of June 30, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 20,707 $ 649 2024 36,971 1,163 2025 30,964 886 2026 24,293 813 2027 17,646 448 Thereafter 37,708 149 Total minimum lease payments 168,289 4,108 Less amount representing interest (48,290) (1,113) Lease liabilities $ 119,999 $ 2,995 As of June 30, 2023, the Company had no additional operating leases that have not yet commenced.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 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 26.4% and 25.6% for the three months ended June 30, 2023 and 2022, respectively, and 18.5% and 23.2% for the six months ended June 30, 2023 and 2022, respectively. The effective tax rate for the three months ended June 30, 2022 was higher than the applicable statutory rate primarily due to the impact of non-deductible compensation expense and other permanent adjustments, while the effective tax rate during the three months ended June 30, 2023 was higher than the applicable statutory rate primarily due to the booking of additional taxes from a recent change in the source of funding for an acquired non-qualified, deferred compensation plan. During the six months ended June 30, 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 and the increase in taxes noted above.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 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 inquiries, 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 June 30, 2023 and December 31, 2022, the mortgage origination segment’s indemnification liability reserve totaled $15.1 million and $20.5 million, respectively. The provision for indemnification losses was $0.5 million and $0.8 million during the three months ended June 30, 2023 and 2022, respectively, and $0.8 million and $1.2 million during the six months ended June 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 27,197 $ 30,271 $ 31,244 $ 31,407 Claims made 16,594 18,216 31,009 28,058 Claims resolved with no payment (4,237) (3,454) (9,785) (7,974) Repurchases (11,092) (16,318) (21,000) (22,776) Indemnification payments (895) — (3,901) — Balance, end of period $ 27,567 $ 28,715 $ 27,567 $ 28,715 Indemnification Liability Reserve Activity Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 18,270 $ 27,250 $ 20,528 $ 27,424 Additions for new sales 490 762 837 1,515 Repurchases (3,525) (4,211) (5,885) (4,775) Early payment defaults (133) (51) (231) (122) Indemnification payments (44) — (191) — Change in reserves for loans sold in prior years — — — (292) Balance, end of period $ 15,058 $ 23,750 $ 15,058 $ 23,750 June 30, December 31, 2023 2022 Reserve for Indemnification Liability: Specific claims $ 859 $ 627 Incurred but not reported claims 14,199 19,901 Total $ 15,058 $ 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	6 Months Ended
Financial Instruments with Off-Balance Sheet Risk	Jun. 30, 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 June 30, 2023 and outstanding financial and performance standby letters of credit of $61.7 million at June 30, 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	6 Months Ended
Stock-Based Compensation	Jun. 30, 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 six months ended June 30, 2023 and 2022, Hilltop granted 9,957 and 10,748 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 six months ended June 30, 2023 (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2022 1,548 $ 28.09 Granted 479 $ 34.36 Vested/Released (644) $ 21.65 Forfeited (10) $ 30.29 Balance, June 30, 2023 1,373 $ 33.22 Vested/Released RSUs include an aggregate of 122,321 shares withheld to satisfy employee statutory tax obligations during the six months ended June 30, 2023. During the six months ended June 30, 2023, the Compensation Committee of the board of directors of the Company awarded certain executives and key employees an aggregate of 386,850 RSUs pursuant to the 2020 Equity Plan. Of the RSUs granted during the six months ended June 30, 2023, 295,992 that were outstanding at June 30, 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 six months ended June 30, 2023, 88,073 that were outstanding at June 30, 2023 At June 30, 2023, in the aggregate, 998,648 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 June 30, 2023

Regulatory Matters

Regulatory Matters	6 Months Ended
Regulatory Matters	Jun. 30, 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 June 30, 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 June 30, 2023 December 31, 2022 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,419,063 10.28 % $ 1,405,164 10.26 % 4.0 % 5.0 % Hilltop 1,924,545 11.47 % 1,900,701 11.47 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,419,063 14.51 % 1,405,164 14.98 % 7.0 % 6.5 % Hilltop 1,924,545 17.63 % 1,900,701 18.23 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,419,063 14.51 % 1,405,164 14.98 % 8.5 % 8.0 % Hilltop 1,924,545 17.63 % 1,900,701 18.23 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,525,074 15.59 % 1,492,576 15.91 % 10.5 % 10.0 % Hilltop 2,230,993 20.44 % 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 June 30, 2023, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). Momentum Hilltop Independent Securities Network Net capital $ 265,233 $ 4,036 Less: required net capital 8,031 287 Excess net capital $ 257,202 $ 3,749 Net capital as a percentage of aggregate debit items 66.1 % Net capital in excess of 5% aggregate debit items $ 245,154 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 June 30, 2023 and December 31, 2022, the Hilltop Broker-Dealers held cash of $50.7 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 June 30, 2023. Mortgage Origination As a mortgage originator, PrimeLending and its subsidiaries are subject to minimum capital, 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 June 30, 2023, PrimeLending and its subsidiaries’ net worth and liquidity exceeded the amounts required by both HUD and GNMA, as applicable.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2023
Stockholders' Equity
Stockholders' Equity	17. Stockholders’ Equity Dividends During the six months ended June 30, 2023 and 2022, the Company declared and paid cash dividends of $0.32 and $0.30 per common share, or an aggregate of $20.8 million and $23.8 million, respectively. On July 20, 2023, Hilltop’s board of directors declared a quarterly cash dividend of $0.16 per common share, payable on August 25, 2023, to all common stockholders of record as of the close of business on August 11, 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 six months ended June 30, 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	6 Months Ended
Derivative Financial Instruments	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 1,888 $ (35,303) $ 6,785 $ (13,251) Hilltop Broker-Dealers 3,950 10,906 (17,230) 9,579 Bank (4) 17 (17) 46 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 derivatives designated as hedges of cash flows are included as a component of accumulated other comprehensive loss on our consolidated balance sheets and changes in the fair value of the derivatives designated as hedges of fair value are included in current earnings. 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). June 30, 2023 December 31, 2022 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 709,174 $ 5,109 $ 506,278 $ 1,767 Commitments to purchase MBSs 1,627,284 (7,982) 819,681 2,435 Commitments to sell MBSs 2,930,771 11,259 2,188,964 10,711 Interest rate swaps 37,750 173 35,784 (1,421) U.S. Treasury bond futures and options (1) 360,900 (1,723) 395,500 (449) Interest rate and other futures (1) 245,200 — 2,612,000 — Credit default swaps 1,000 (8) 3,000 (2) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 410,000 $ 21,845 $ 430,000 $ 21,703 Interest rate swaps designated as fair value hedges (2) 325,323 41,192 365,323 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 $284.1 million and $322.5 million as of June 30, 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 $41.2 million and $42.8 million as of June 30, 2023 and December 31, 2022, respectively. The Bank and PrimeLending held cash collateral advances, in other liabilities within the consolidated balance sheets, of $76.4 million and $65.0 million to offset net asset derivative positions on its commitments to sell MBSs and derivative instruments designated as hedges at June 30, 2023 and December, 31, 2022, respectively. PrimeLending had advanced cash collateral totaling $45 thousand and $8.4 million to offset net liability positions on its commitments to sell MBSs at June 30, 2023 and December 31, 2022, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers had advanced cash collateral totaling $12.9 million and $10.6 million on various derivative instruments at June 30, 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	6 Months Ended
Balance Sheet Offsetting	Jun. 30, 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 June 30, 2023 Securities borrowed: Institutional counterparties $ 1,326,418 $ — $ 1,326,418 $ (1,282,256) $ — $ 44,162 Interest rate swaps: Institutional counterparties 63,210 — 63,210 (173) (65,920) (2,883) Reverse repurchase agreements: Institutional counterparties 143,982 — 143,982 (141,773) — 2,209 Forward MBS derivatives: Institutional counterparties 11,693 (203) 11,490 (3,445) (10,460) (2,415) $ 1,545,303 $ (203) $ 1,545,100 $ (1,427,647) $ (76,380) $ 41,073 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 June 30, 2023 Securities loaned: Institutional counterparties $ 1,229,368 $ — $ 1,229,368 $ (1,186,700) $ — $ 42,668 Credit default swaps: Institutional counterparties 8 — 8 (8) — — Repurchase agreements: Institutional counterparties 401,537 — 401,537 (401,537) — — Forward MBS derivatives: Institutional counterparties 8,213 — 8,213 (8,213) — — Treasury futures and options derivatives: Institutional counterparties 1,732 (9) 1,723 — (5,988) (4,265) $ 1,640,858 $ (9) $ 1,640,849 $ (1,596,458) $ (5,988) $ 38,403 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 June 30, 2023 and December 31, 2022. Remaining Contractual Maturities Overnight and Greater Than June 30, 2023 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities 292,497 4,282 52,729 52,029 401,537 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,229,255 — — — 1,229,255 Total $ 1,521,865 $ 4,282 $ 52,729 $ 52,029 $ 1,630,905 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,630,905 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	6 Months Ended
	Jun. 30, 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). June 30, December 31, 2023 2022 Receivables: Securities borrowed $ 1,326,418 $ 1,012,573 Securities failed to deliver 29,218 11,350 Trades in process of settlement 107,585 3,476 Other 10,956 10,656 $ 1,474,177 $ 1,038,055 Payables: Securities loaned $ 1,229,368 $ 916,570 Correspondents 35,065 22,760 Securities failed to receive 35,207 20,167 Other 7,006 6,973 $ 1,306,646 $ 966,470

Segment and Related Information

Segment and Related Information	6 Months Ended
Segment and Related Information	Jun. 30, 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 June 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 100,986 $ 13,201 $ (5,901) $ (3,479) $ 13,459 $ 118,266 Provision for (reversal of) credit losses 14,900 (64) — — — 14,836 Noninterest income 11,189 100,040 90,079 3,081 (13,737) 190,652 Noninterest expense 57,436 94,853 98,660 16,301 (273) 266,977 Income (loss) before taxes $ 39,839 $ 18,452 $ (14,482) $ (16,699) $ (5) $ 27,105 Mortgage All Other and Hilltop Six Months Ended June 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 205,756 $ 27,064 $ (10,109) $ (6,801) $ 24,061 $ 239,971 Provision for (reversal of) credit losses 16,500 667 — — — 17,167 Noninterest income 22,379 190,675 158,909 5,786 (24,603) 353,146 Noninterest expense 113,563 185,198 187,413 31,814 (541) 517,447 Income (loss) before taxes $ 98,072 $ 31,874 $ (38,613) $ (32,829) $ (1) $ 58,503 Mortgage All Other and Hilltop Three Months Ended June 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 101,259 $ 12,578 $ (1,291) $ (3,190) $ 2,700 $ 112,056 Provision for (reversal of) credit losses 5,025 311 — — — 5,336 Noninterest income 12,467 87,651 140,082 2,080 (3,007) 239,273 Noninterest expense 57,331 90,817 133,169 17,561 (335) 298,543 Income (loss) before taxes $ 51,370 $ 9,101 $ 5,622 $ (18,671) $ 28 $ 47,450 Mortgage All Other and Hilltop Six Months Ended June 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 193,329 $ 24,096 $ (3,127) $ (6,580) $ 4,329 $ 212,047 Provision for (reversal of) credit losses 4,975 476 — — — 5,451 Noninterest income 25,237 148,341 283,276 3,846 (4,999) 455,701 Noninterest expense 115,761 171,464 268,027 30,354 (713) 584,893 Income (loss) before taxes $ 97,830 $ 497 $ 12,122 $ (33,088) $ 43 $ 77,404 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Corporate Eliminations Consolidated June 30, 2023 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,815,183 $ 3,029,661 $ 1,572,087 $ 2,468,214 $ (3,746,804) $ 17,138,341 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	6 Months Ended
Earnings per Common Share	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic earnings per share: Income attributable to Hilltop $ 18,133 $ 33,260 $ 43,933 $ 55,510 Weighted average shares outstanding - basic 65,025 73,693 64,963 76,389 Basic earnings per common share: $ 0.28 $ 0.45 $ 0.68 $ 0.73 Diluted earnings per share: Income attributable to Hilltop $ 18,133 $ 33,260 $ 43,933 $ 55,510 Weighted average shares outstanding - basic 65,025 73,693 64,963 76,389 Effect of potentially dilutive securities 29 145 30 180 Weighted average shares outstanding - diluted 65,054 73,838 64,993 76,569 Diluted earnings per common share: $ 0.28 $ 0.45 $ 0.68 $ 0.73

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	6 Months Ended
	Jun. 30, 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)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 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 June 30, 2023 Inputs Inputs Inputs Fair Value Trading securities $ 7,546 $ 689,103 $ — $ 696,649 Available for sale securities — 1,526,869 — 1,526,869 Equity securities 258 — — 258 Loans held for sale — 1,139,035 41,292 1,180,327 Loans held for investment — — 9,714 9,714 Derivative assets — 85,053 — 85,053 MSR asset — — 95,101 95,101 Securities sold, not yet purchased 47,787 26,974 — 74,761 Derivative liabilities — 15,188 — 15,188 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 June 30, 2023 Loans held for sale $ 33,993 $ 20,712 $ (7,275) $ — $ (6,138) $ — $ 41,292 Loans held for investment 9,437 — — — 277 — 9,714 MSR asset 103,314 6,890 (19,055) — 3,952 — 95,101 Total $ 146,744 $ 27,602 $ (26,330) $ — $ (1,909) $ — $ 146,107 Six months ended June 30, 2023 Loans held for sale $ 40,707 $ 37,508 $ (30,729) $ (446) $ (5,748) $ — $ 41,292 Loans held for investment 9,181 — — — 533 — 9,714 MSR asset 100,825 20,100 (19,055) — (6,769) — 95,101 Total $ 150,713 $ 57,608 $ (49,784) $ (446) $ (11,984) $ — $ 146,107 Three months ended June 30, 2022 Loans held for sale $ 45,977 $ 13,456 $ (12,090) $ 1,094 $ (6,705) $ — $ 41,732 Loans held for investment 9,611 — (562) — (22) — 9,027 MSR asset 100,475 11,210 — — 10,003 — 121,688 Total $ 156,063 $ 24,666 $ (12,652) $ 1,094 $ 3,276 $ — $ 172,447 Six months ended June 30, 2022 Loans held for sale $ 47,716 $ 20,442 $ (24,748) $ 5,838 $ (7,516) $ — $ 41,732 Loans held for investment — 9,611 (562) — (22) — 9,027 MSR asset 86,990 18,510 (1,876) — 18,064 — 121,688 Total $ 134,706 $ 48,563 $ (27,186) $ 5,838 $ 10,526 $ — $ 172,447
Schedule of significant unobservable inputs used in the fair value measurements	Range (Weighted-Average) Financial instrument Valuation Technique Unobservable Inputs June 30, 2023 December 31, 2022 Loans held for sale Market comparable Projected price 82 - 90 % ( 83 %) 88 - 95 % ( 89 %) Loans held for investment Discounted cash flow Discount rate 11.50 % 11.88 % MSR asset Discounted cash flow Constant prepayment rate 8.49 % 8.14 % Discount rate 11.71 % 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 June 30, 2023 Three Months Ended June 30, 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 $ (12,366) $ — $ (12,366) $ 14,862 $ — $ 14,862 Loans held for investment — — — (283) — (283) MSR asset 3,952 — 3,952 10,003 — 10,003 Six Months Ended June 30, 2023 Six Months Ended June 30, 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 $ (2,233) $ — $ (2,233) $ (35,994) $ — $ (35,994) Loans held for investment — — — (283) — (283) MSR asset (6,769) — (6,769) 18,064 — 18,064
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 June 30, 2023 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,585,359 $ 1,585,359 $ — $ — $ 1,585,359 Assets segregated for regulatory purposes 50,711 50,711 — — 50,711 Securities purchased under agreements to resell 143,982 — 143,982 — 143,982 Held to maturity securities 847,437 — 755,186 — 755,186 Loans held for sale 152,717 — 121,186 32,477 153,663 Loans held for investment, net 8,235,102 — 359,444 7,836,335 8,195,779 Broker-dealer and clearing organization receivables 1,474,177 — 1,474,177 — 1,474,177 Other assets 77,919 — 76,253 1,666 77,919 Financial liabilities: Deposits 11,164,177 — 11,145,156 — 11,145,156 Broker-dealer and clearing organization payables 1,306,646 — 1,306,646 — 1,306,646 Short-term borrowings 1,628,637 — 1,628,637 — 1,628,637 Debt 364,531 — 344,720 — 344,720 Other liabilities 9,766 — 9,766 — 9,766 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 22,507 $ 27,986 $ 27,264 $ 16,817 Additional investments — — — 11,000 Upward adjustments 182 231 425 445 Impairments and downward adjustments (35) (34) (5,035) (79) Balance, end of period $ 22,654 $ 28,183 $ 22,654 $ 28,183

Securities (Tables)

Securities (Tables)	6 Months Ended
Securities (Tables)	Jun. 30, 2023
Securities
Summary of trading securities	The fair value of trading securities is summarized as follows (in thousands). June 30, December 31, 2023 2022 U.S. Treasury securities $ 7,481 $ 10,466 U.S. government agencies: Bonds 20,545 20,878 Residential mortgage-backed securities 262,410 214,100 Collateralized mortgage obligations 83,564 182,717 Corporate debt securities 56,739 42,685 States and political subdivisions 229,705 260,271 Private-label securitized product 29,627 9,265 Other 6,578 14,650 Totals $ 696,649 $ 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 June 30, 2023 Cost Gains Losses Fair Value U.S. Treasury securities $ 4,982 $ — $ (492) $ 4,490 U.S. government agencies: Bonds 173,688 190 (1,383) 172,495 Residential mortgage-backed securities 421,362 — (47,423) 373,939 Commercial mortgage-backed securities 183,708 56 (8,635) 175,129 Collateralized mortgage obligations 834,844 38 (70,012) 764,870 States and political subdivisions 39,452 50 (3,556) 35,946 Totals $ 1,658,036 $ 334 $ (131,501) $ 1,526,869 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 June 30, 2023 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 289,806 $ — $ (28,471) $ 261,335 Commercial mortgage-backed securities 180,109 — (15,529) 164,580 Collateralized mortgage obligations 299,519 — (41,390) 258,129 States and political subdivisions 78,003 78 (6,939) 71,142 Totals $ 847,437 $ 78 $ (92,329) $ 755,186 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). June 30, 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 4,490 492 1 4,465 514 1 4,490 492 1 4,465 514 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 23 147,011 1,082 15 98,246 388 Unrealized loss for twelve months or longer 3 14,196 301 3 15,263 512 26 161,207 1,383 18 113,509 900 Residential mortgage-backed securities: Unrealized loss for less than twelve months 45 66,246 3,304 95 168,351 10,036 Unrealized loss for twelve months or longer 82 307,692 44,119 30 236,739 38,739 127 373,938 47,423 125 405,090 48,775 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 5 29,845 1,351 11 79,337 2,047 Unrealized loss for twelve months or longer 14 140,501 7,284 8 86,923 5,785 19 170,346 8,635 19 166,260 7,832 Collateralized mortgage obligations: Unrealized loss for less than twelve months 20 119,282 4,823 97 563,872 30,980 Unrealized loss for twelve months or longer 123 632,286 65,189 48 244,917 37,647 143 751,568 70,012 145 808,789 68,627 States and political subdivisions: Unrealized loss for less than twelve months 27 11,546 204 34 20,555 964 Unrealized loss for twelve months or longer 34 16,032 3,352 29 7,892 2,639 61 27,578 3,556 63 28,447 3,603 Total available for sale: Unrealized loss for less than twelve months 120 373,930 10,764 252 930,361 44,415 Unrealized loss for twelve months or longer 257 1,115,197 120,737 119 596,199 85,836 377 $ 1,489,127 $ 131,501 371 $ 1,526,560 $ 130,251
Schedule of information regarding held to maturity securities that were in an unrealized loss position	June 30, 2023 December 31, 2022 Number of Unrealized Number of Unrealized Securities Fair Value Losses Securities Fair Value Losses Held to Maturity U.S. government agencies: Residential mortgage-backed securities: Unrealized loss for less than twelve months — $ — $ — 14 $ 59,089 $ 5,928 Unrealized loss for twelve months or longer 41 261,335 28,471 31 212,768 23,799 41 261,335 28,471 45 271,857 29,727 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 3 10,627 434 30 163,172 14,483 Unrealized loss for twelve months or longer 28 153,952 15,095 1 2,834 452 31 164,579 15,529 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 54 258,128 41,390 38 242,527 35,118 54 258,128 41,390 56 276,363 38,343 States and political subdivisions: Unrealized loss for less than twelve months 55 24,153 701 150 59,459 5,362 Unrealized loss for twelve months or longer 118 39,730 6,238 27 8,093 1,856 173 63,883 6,939 177 67,552 7,218 Total held to maturity: Unrealized loss for less than twelve months 58 34,780 1,135 212 315,556 28,998 Unrealized loss for twelve months or longer 241 713,145 91,194 97 466,222 61,225 299 $ 747,925 $ 92,329 309 $ 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 June 30, 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 $ 11,547 $ 11,271 $ 882 $ 881 Due after one year through five years 74,378 73,073 1,308 1,231 Due after five years through ten years 61,678 61,140 28,303 26,623 Due after ten years 70,519 67,447 47,510 42,407 218,122 212,931 78,003 71,142 Residential mortgage-backed securities 421,362 373,939 289,806 261,335 Commercial mortgage-backed securities 183,708 175,129 180,109 164,580 Collateralized mortgage obligations 834,844 764,870 299,519 258,129 $ 1,658,036 $ 1,526,869 $ 847,437 $ 755,186

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	6 Months Ended
Loans Held for Investment (Tables)	Jun. 30, 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). June 30, December 31, 2023 2022 Commercial real estate $ 3,275,910 $ 3,245,873 Commercial and industrial 1,797,639 1,639,980 Construction and land development 1,083,103 980,896 1-4 family residential 1,811,362 1,767,099 Consumer 26,664 27,602 Broker-dealer (1) 359,444 431,223 8,354,122 8,092,673 Allowance for credit losses (109,306) (95,442) Total loans held for investment, net of allowance $ 8,244,816 $ 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 June 30, 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 $ 8,003 $ — $ 34 $ 8,037 $ 1,862,164 $ 1,870,201 $ — Owner occupied 4,964 2,247 12 7,223 1,398,486 1,405,709 — Commercial and industrial 14,002 59 4,641 18,702 1,778,937 1,797,639 49 Construction and land development 1,647 — — 1,647 1,081,456 1,083,103 — 1-4 family residential 3,097 1,506 3,338 7,941 1,803,421 1,811,362 1 Consumer 47 1 9 57 26,607 26,664 1 Broker-dealer — — — — 359,444 359,444 — $ 31,760 $ 3,813 $ 8,034 $ 43,607 $ 8,310,515 $ 8,354,122 $ 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
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 June 30, 2023 December 31, 2022 Interest Income Recognized With With No With With No Three Months Ended June 30, Six Months Ended June 30, Allowance Allowance Total Allowance Allowance Total 2023 2022 2023 2022 Commercial real estate: Non-owner occupied $ 472 $ 1,984 $ 2,456 $ 688 $ 562 $ 1,250 $ 58 $ 60 $ 181 $ 157 Owner occupied 767 329 1,096 2,862 157 3,019 261 334 324 417 Commercial and industrial 582 20,860 21,442 3,727 5,368 9,095 138 439 269 627 Construction and land development 395 — 395 1 — 1 29 8 36 15 1-4 family residential 407 9,390 9,797 433 10,862 11,295 379 1,304 835 1,725 Consumer 9 — 9 14 — 14 — — — — Broker-dealer — — — — — — — — — — $ 2,632 $ 32,563 $ 35,195 $ 7,725 $ 16,949 $ 24,674 $ 865 $ 2,145 $ 1,645 $ 2,941
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 June 30, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 43,538 $ — $ — 2.3 % Owner occupied — 2,214 — — 0.2 % Commercial and industrial — 11,383 — 2,960 0.8 % Construction and land development — 308 — — 0.0 % 1-4 family residential — — — — — % Consumer — — — — — % Broker-Dealer — — — — — % Total $ — $ 57,443 $ — $ 2,960 0.7 %
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 June 30, 2023 (in months) Commercial real estate: Non-owner occupied 25 Owner occupied 35 Commercial and industrial 8 Construction and land development 9 1-4 family residential — Consumer — Broker-Dealer — Total 22
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 June 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Term Loans Total Commercial real estate: non-owner occupied Internal Grade 1-3 (Pass low risk) $ 657 $ 37,424 $ 33,322 $ 8,877 $ 7,813 $ 6,905 $ 51 $ 194 $ 95,243 Internal Grade 4-7 (Pass normal risk) 90,911 298,895 395,438 128,334 75,641 61,348 33,100 1,807 1,085,474 Internal Grade 8-11 (Pass high risk and watch) 54,971 150,585 112,274 92,970 55,209 114,396 14,676 847 595,928 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) 55,940 11,797 14,550 1,600 6,078 1,135 — — 91,100 Internal Grade 14 (Substandard non-accrual) — 1,442 385 — — 629 — — 2,456 Current period gross charge-offs — — — — — — — — — Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 34,739 $ 20,200 $ 110,795 $ 53,924 $ 17,513 $ 62,379 $ 2,802 $ 14,710 $ 317,062 Internal Grade 4-7 (Pass normal risk) 55,489 177,783 148,245 86,997 73,217 124,323 16,804 — 682,858 Internal Grade 8-11 (Pass high risk and watch) 21,336 89,184 78,420 79,419 20,976 70,269 5,921 1,514 367,039 Internal Grade 12 (Special mention) — — — 638 2,781 — — — 3,419 Internal Grade 13 (Substandard accrual) 2,351 7,307 2,773 6,894 1,470 13,274 166 — 34,235 Internal Grade 14 (Substandard non-accrual) — 172 663 — — 261 — — 1,096 Current period gross charge-offs — — — — — 977 — — 977 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 10,502 $ 31,296 $ 32,937 $ 20,027 $ 20,541 $ 2,649 $ 27,000 $ — $ 144,952 Internal Grade 4-7 (Pass normal risk) 45,580 114,639 140,978 36,366 6,126 15,881 300,172 256 659,998 Internal Grade 8-11 (Pass high risk and watch) 63,626 114,686 38,346 31,942 9,237 9,175 293,752 2,465 563,229 Internal Grade 12 (Special mention) — — 140 — — — 79 — 219 Internal Grade 13 (Substandard accrual) 3,897 2,008 4,789 4,276 5,029 5,306 15,815 26,583 67,703 Internal Grade 14 (Substandard non-accrual) 84 177 162 4,616 — 2,258 10,380 3,765 21,442 Current period gross charge-offs 53 3,001 — — 25 — — — 3,079 Construction and land development Internal Grade 1-3 (Pass low risk) $ 1,729 $ 20,641 $ 10,639 $ 406 $ 833 $ 2,376 $ — $ — $ 36,624 Internal Grade 4-7 (Pass normal risk) 164,313 322,044 107,413 28,527 892 1,860 43,545 — 668,594 Internal Grade 8-11 (Pass high risk and watch) 99,990 173,112 52,808 4,417 2,399 210 9,021 — 341,957 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) — — — 10,560 — — — — 10,560 Internal Grade 14 (Substandard non-accrual) — 395 — — — — — — 395 Current period gross charge-offs — — — — — — — — — Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 87 2,717 — — — 946 — — 3,750 FICO greater than 720 11,638 9,288 122 52 — — — — 21,100 Substandard non-accrual — — — — — — — — — Other (1) 96 27 — — — — — — 123 Current period gross charge-offs — — — — — — — — — 1-4 family residential FICO less than 620 $ 151 $ 1,464 $ 658 $ 762 $ 278 $ 24,061 $ 244 $ — $ 27,618 FICO between 620 and 720 2,752 16,849 12,901 6,828 4,880 27,801 1,749 — 73,760 FICO greater than 720 116,871 558,654 762,069 96,884 42,182 64,146 3,664 636 1,645,106 Substandard non-accrual — 537 — — — 9,260 — — 9,797 Other (1) 13,160 22,735 12,015 1,395 2,278 3,121 377 — 55,081 Current period gross charge-offs — — — — — 73 — — 73 Consumer FICO less than 620 $ 561 $ 609 $ 158 $ 93 $ 19 $ 5 $ 366 $ 2 $ 1,813 FICO between 620 and 720 2,406 2,351 633 391 220 44 1,966 8 8,019 FICO greater than 720 1,679 3,662 1,151 813 154 10 2,454 1 9,924 Substandard non-accrual — — — — — 9 — — 9 Other (1) 2,796 3,049 486 328 72 16 152 — 6,899 Current period gross charge-offs 44 54 6 5 2 11 — — 122 Total loans with credit quality measures $ 858,312 $ 2,195,729 $ 2,075,270 $ 708,336 $ 355,838 $ 624,053 $ 784,256 $ 52,788 $ 7,654,582 Commercial and industrial (mortgage warehouse lending) $ 330,382 Commercial and industrial (loans accounted for at fair value) $ 9,714 Broker-Dealer (margin loans and correspondent receivables) $ 359,444 Total loans held for investment $ 8,354,122 (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)	6 Months Ended
Allowance for Credit Losses (Tables)	Jun. 30, 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 June 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 61,521 $ 9,921 $ — $ 20 $ 71,462 Commercial and industrial 16,615 3,632 (3,020) 88 17,315 Construction and land development 5,999 1,396 — — 7,395 1-4 family residential 11,691 (108) — 35 11,618 Consumer 563 59 (53) 46 615 Broker-dealer 965 (64) — — 901 Total $ 97,354 $ 14,836 $ (3,073) $ 189 $ 109,306 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Six Months Ended June 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,255 $ 9,153 $ (977) $ 31 $ 71,462 Commercial and industrial 16,035 3,579 (3,079) 780 17,315 Construction and land development 6,051 1,344 — — 7,395 1-4 family residential 9,313 2,326 (73) 52 11,618 Consumer 554 98 (122) 85 615 Broker-dealer 234 667 — — 901 Total $ 95,442 $ 17,167 $ (4,251) $ 948 $ 109,306 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended June 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 60,361 $ 3,347 $ — $ 11 $ 63,719 Commercial and industrial 20,130 871 (1,892) 727 19,836 Construction and land development 5,515 (519) — — 4,996 1-4 family residential 4,340 1,212 (33) 35 5,554 Consumer 499 114 (99) 28 542 Broker-dealer 340 311 — — 651 Total $ 91,185 $ 5,336 $ (2,024) $ 801 $ 95,298 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Six Months Ended June 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 59,354 $ 4,322 $ — $ 43 $ 63,719 Commercial and industrial 21,982 (679) (3,101) 1,634 19,836 Construction and land development 4,674 322 — — 4,996 1-4 family residential 4,589 965 (48) 48 5,554 Consumer 578 45 (212) 131 542 Broker-dealer 175 476 — — 651 Total $ 91,352 $ 5,451 $ (3,361) $ 1,856 $ 95,298
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 6,805 $ 6,487 $ 7,784 $ 5,880 Other noninterest expense 1,187 444 208 1,051 Balance, end of period $ 7,992 $ 6,931 $ 7,992 $ 6,931

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	6 Months Ended
Mortgage Servicing Rights (Tables)	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 103,314 $ 100,475 $ 100,825 $ 86,990 Additions 6,890 11,210 20,100 18,510 Sales (19,055) — (19,055) (1,876) Changes in fair value: Due to changes in model inputs or assumptions (1) 5,326 13,237 (4,539) 24,093 Due to customer payoffs (1,374) (3,234) (2,230) (6,029) Balance, end of period $ 95,101 $ 121,688 $ 95,101 $ 121,688 June 30, December 31, 2023 2022 Mortgage loans serviced for others (2) $ 4,986,261 $ 5,144,558 MSR asset as a percentage of serviced mortgage loans 1.91 % 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	June 30, December 31, 2023 2022 Weighted average constant prepayment rate 8.49 % 8.14 % Weighted average discount rate 11.71 % 12.10 % Weighted average life (in years) 8.3 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). June 30, December 31, 2023 2022 Constant prepayment rate: Impact of 10% adverse change $ (3,288) $ (3,288) Impact of 20% adverse change (6,362) (6,375) Discount rate: Impact of 10% adverse change (4,404) (4,797) Impact of 20% adverse change (8,404) (9,147)

Deposits (Tables)

Deposits (Tables)	6 Months Ended
Deposits (Tables)	Jun. 30, 2023
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). June 30, December 31, 2023 2022 Noninterest-bearing demand $ 3,451,438 $ 3,968,862 Interest-bearing: Demand accounts 3,990,812 4,110,418 Brokered - demand 305,920 5,336 Money market 2,025,849 2,045,554 Brokered - money market 9,813 9,031 Savings 281,699 312,140 Time 1,007,315 864,408 Brokered - time 91,331 — $ 11,164,177 $ 11,315,749

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	6 Months Ended
Short-term Borrowings (Tables)	Jun. 30, 2023
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). June 30, December 31, 2023 2022 Federal funds purchased $ 438,908 $ 397,108 Securities sold under agreements to repurchase 402,594 297,856 Federal Home Loan Bank 500,000 — Short-term bank loans 78,000 57,500 Commercial paper 209,135 217,592 $ 1,628,637 $ 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). Six Months Ended June 30, 2023 2022 Average balance during the period $ 768,514 $ 477,533 Average interest rate during the period 5.16 % 0.67 % June 30, December 31, 2023 2022 Average interest rate at end of period 5.38 % 4.37 % Securities underlying the agreements at end of period: Carrying value $ 402,714 $ 296,075 Estimated fair value $ 431,244 $ 318,409
Federal Home Loan Bank
Short-term borrowings
Schedule of short-term borrowings	Six Months Ended June 30, 2023 2022 Average balance during the period $ 252,901 $ — Average interest rate during the period 5.05 % — % June 30, December 31, 2023 2022 Average interest rate at end of period 5.35 % — %

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
Notes Payable (Tables)	Jun. 30, 2023
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). June 30, December 31, 2023 2022 Senior Notes due April 2025, net of discount of $602 and $699, respectively $ 149,398 $ 149,301 Subordinated Notes due May 2030, net of discount of $561 and $610, respectively 49,439 49,390 Subordinated Notes due May 2035, net of discount of $1,941 and $2,037, respectively 148,059 147,963 Ventures Management lines of credit 17,635 — $ 364,531 $ 346,654

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2023
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). June 30, December 31, 2023 2022 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (6,243) (5,948) Premises and equipment, net $ 1,537 $ 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease cost $ 9,015 $ 9,352 $ 17,744 $ 18,958 Less operating lease and sublease income (678) (561) (1,311) (1,130) Net operating lease cost $ 8,337 $ 8,791 $ 16,433 $ 17,828 Finance lease cost: Amortization of ROU assets $ 147 $ 147 $ 295 $ 295 Interest on lease liabilities 108 121 220 245 Total finance lease cost $ 255 $ 268 $ 515 $ 540
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands). Six Months Ended June 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,150 $ 18,713 Operating cash flows from finance leases 222 247 Financing cash flows from finance leases 409 372 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 9,559 $ 8,266 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. June 30, 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 4.35 % 5.7 3.89 % Finance 3.6 4.93 % 4.0 4.89 %
Schedule of future minimum lease payments under operating leases	Future minimum lease payments under lease agreements as of June 30, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 20,707 $ 649 2024 36,971 1,163 2025 30,964 886 2026 24,293 813 2027 17,646 448 Thereafter 37,708 149 Total minimum lease payments 168,289 4,108 Less amount representing interest (48,290) (1,113) Lease liabilities $ 119,999 $ 2,995
Schedule of future minimum lease payments under finance leases	Future minimum lease payments under lease agreements as of June 30, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 20,707 $ 649 2024 36,971 1,163 2025 30,964 886 2026 24,293 813 2027 17,646 448 Thereafter 37,708 149 Total minimum lease payments 168,289 4,108 Less amount representing interest (48,290) (1,113) Lease liabilities $ 119,999 $ 2,995

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 27,197 $ 30,271 $ 31,244 $ 31,407 Claims made 16,594 18,216 31,009 28,058 Claims resolved with no payment (4,237) (3,454) (9,785) (7,974) Repurchases (11,092) (16,318) (21,000) (22,776) Indemnification payments (895) — (3,901) — Balance, end of period $ 27,567 $ 28,715 $ 27,567 $ 28,715 Indemnification Liability Reserve Activity Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 18,270 $ 27,250 $ 20,528 $ 27,424 Additions for new sales 490 762 837 1,515 Repurchases (3,525) (4,211) (5,885) (4,775) Early payment defaults (133) (51) (231) (122) Indemnification payments (44) — (191) — Change in reserves for loans sold in prior years — — — (292) Balance, end of period $ 15,058 $ 23,750 $ 15,058 $ 23,750 June 30, December 31, 2023 2022 Reserve for Indemnification Liability: Specific claims $ 859 $ 627 Incurred but not reported claims 14,199 19,901 Total $ 15,058 $ 20,528

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Jun. 30, 2023
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested restricted stock unit (“RSU”) activity for the six months ended June 30, 2023 (shares in thousands). RSUs Weighted Average Grant Date Outstanding Fair Value Balance, December 31, 2022 1,548 $ 28.09 Granted 479 $ 34.36 Vested/Released (644) $ 21.65 Forfeited (10) $ 30.29 Balance, June 30, 2023 1,373 $ 33.22

Regulatory Matters (Tables)

Regulatory Matters (Tables)	6 Months Ended
Regulatory Matters (Tables)	Jun. 30, 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 June 30, 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 June 30, 2023 December 31, 2022 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,419,063 10.28 % $ 1,405,164 10.26 % 4.0 % 5.0 % Hilltop 1,924,545 11.47 % 1,900,701 11.47 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,419,063 14.51 % 1,405,164 14.98 % 7.0 % 6.5 % Hilltop 1,924,545 17.63 % 1,900,701 18.23 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,419,063 14.51 % 1,405,164 14.98 % 8.5 % 8.0 % Hilltop 1,924,545 17.63 % 1,900,701 18.23 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,525,074 15.59 % 1,492,576 15.91 % 10.5 % 10.0 % Hilltop 2,230,993 20.44 % 2,187,652 20.98 % 10.5 % N/A
Schedule of net capital position	At June 30, 2023, the net capital position of each of the Hilltop Broker-Dealers was as follows (in thousands). Momentum Hilltop Independent Securities Network Net capital $ 265,233 $ 4,036 Less: required net capital 8,031 287 Excess net capital $ 257,202 $ 3,749 Net capital as a percentage of aggregate debit items 66.1 % Net capital in excess of 5% aggregate debit items $ 245,154

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
Derivative Financial Instruments (Tables)	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Increase (decrease) in fair value of derivatives during period: PrimeLending $ 1,888 $ (35,303) $ 6,785 $ (13,251) Hilltop Broker-Dealers 3,950 10,906 (17,230) 9,579 Bank (4) 17 (17) 46
Schedule of derivative positions	Derivative positions are presented in the following table (in thousands). June 30, 2023 December 31, 2022 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 709,174 $ 5,109 $ 506,278 $ 1,767 Commitments to purchase MBSs 1,627,284 (7,982) 819,681 2,435 Commitments to sell MBSs 2,930,771 11,259 2,188,964 10,711 Interest rate swaps 37,750 173 35,784 (1,421) U.S. Treasury bond futures and options (1) 360,900 (1,723) 395,500 (449) Interest rate and other futures (1) 245,200 — 2,612,000 — Credit default swaps 1,000 (8) 3,000 (2) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 410,000 $ 21,845 $ 430,000 $ 21,703 Interest rate swaps designated as fair value hedges (2) 325,323 41,192 365,323 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 $284.1 million and $322.5 million as of June 30, 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 $41.2 million and $42.8 million as of June 30, 2023 and December 31, 2022, respectively.

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	6 Months Ended
Balance Sheet Offsetting (Tables)	Jun. 30, 2023
Balance Sheet Offsetting
Schedule of the assets subject to an enforceable master netting arrangement or repurchase agreements	The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands). Gross Amounts Not Offset in Net Amounts the Balance Sheet Gross Amounts Gross Amounts of Assets Cash of Recognized Offset in the Presented in the Financial Collateral Net Assets Balance Sheet Balance Sheet Instruments Pledged Amount June 30, 2023 Securities borrowed: Institutional counterparties $ 1,326,418 $ — $ 1,326,418 $ (1,282,256) $ — $ 44,162 Interest rate swaps: Institutional counterparties 63,210 — 63,210 (173) (65,920) (2,883) Reverse repurchase agreements: Institutional counterparties 143,982 — 143,982 (141,773) — 2,209 Forward MBS derivatives: Institutional counterparties 11,693 (203) 11,490 (3,445) (10,460) (2,415) $ 1,545,303 $ (203) $ 1,545,100 $ (1,427,647) $ (76,380) $ 41,073 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 June 30, 2023 Securities loaned: Institutional counterparties $ 1,229,368 $ — $ 1,229,368 $ (1,186,700) $ — $ 42,668 Credit default swaps: Institutional counterparties 8 — 8 (8) — — Repurchase agreements: Institutional counterparties 401,537 — 401,537 (401,537) — — Forward MBS derivatives: Institutional counterparties 8,213 — 8,213 (8,213) — — Treasury futures and options derivatives: Institutional counterparties 1,732 (9) 1,723 — (5,988) (4,265) $ 1,640,858 $ (9) $ 1,640,849 $ (1,596,458) $ (5,988) $ 38,403 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 June 30, 2023 and December 31, 2022. Remaining Contractual Maturities Overnight and Greater Than June 30, 2023 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: Asset-backed securities 292,497 4,282 52,729 52,029 401,537 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,229,255 — — — 1,229,255 Total $ 1,521,865 $ 4,282 $ 52,729 $ 52,029 $ 1,630,905 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,630,905 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)	6 Months Ended
	Jun. 30, 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). June 30, December 31, 2023 2022 Receivables: Securities borrowed $ 1,326,418 $ 1,012,573 Securities failed to deliver 29,218 11,350 Trades in process of settlement 107,585 3,476 Other 10,956 10,656 $ 1,474,177 $ 1,038,055 Payables: Securities loaned $ 1,229,368 $ 916,570 Correspondents 35,065 22,760 Securities failed to receive 35,207 20,167 Other 7,006 6,973 $ 1,306,646 $ 966,470

Segment and Related Informati_2

Segment and Related Information (Tables)	6 Months Ended
Segment and Related Information (Tables)	Jun. 30, 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 June 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 100,986 $ 13,201 $ (5,901) $ (3,479) $ 13,459 $ 118,266 Provision for (reversal of) credit losses 14,900 (64) — — — 14,836 Noninterest income 11,189 100,040 90,079 3,081 (13,737) 190,652 Noninterest expense 57,436 94,853 98,660 16,301 (273) 266,977 Income (loss) before taxes $ 39,839 $ 18,452 $ (14,482) $ (16,699) $ (5) $ 27,105 Mortgage All Other and Hilltop Six Months Ended June 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 205,756 $ 27,064 $ (10,109) $ (6,801) $ 24,061 $ 239,971 Provision for (reversal of) credit losses 16,500 667 — — — 17,167 Noninterest income 22,379 190,675 158,909 5,786 (24,603) 353,146 Noninterest expense 113,563 185,198 187,413 31,814 (541) 517,447 Income (loss) before taxes $ 98,072 $ 31,874 $ (38,613) $ (32,829) $ (1) $ 58,503 Mortgage All Other and Hilltop Three Months Ended June 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 101,259 $ 12,578 $ (1,291) $ (3,190) $ 2,700 $ 112,056 Provision for (reversal of) credit losses 5,025 311 — — — 5,336 Noninterest income 12,467 87,651 140,082 2,080 (3,007) 239,273 Noninterest expense 57,331 90,817 133,169 17,561 (335) 298,543 Income (loss) before taxes $ 51,370 $ 9,101 $ 5,622 $ (18,671) $ 28 $ 47,450 Mortgage All Other and Hilltop Six Months Ended June 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 193,329 $ 24,096 $ (3,127) $ (6,580) $ 4,329 $ 212,047 Provision for (reversal of) credit losses 4,975 476 — — — 5,451 Noninterest income 25,237 148,341 283,276 3,846 (4,999) 455,701 Noninterest expense 115,761 171,464 268,027 30,354 (713) 584,893 Income (loss) before taxes $ 97,830 $ 497 $ 12,122 $ (33,088) $ 43 $ 77,404 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Corporate Eliminations Consolidated June 30, 2023 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,815,183 $ 3,029,661 $ 1,572,087 $ 2,468,214 $ (3,746,804) $ 17,138,341 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)	6 Months Ended
Earnings per Common Share (Tables)	Jun. 30, 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic earnings per share: Income attributable to Hilltop $ 18,133 $ 33,260 $ 43,933 $ 55,510 Weighted average shares outstanding - basic 65,025 73,693 64,963 76,389 Basic earnings per common share: $ 0.28 $ 0.45 $ 0.68 $ 0.73 Diluted earnings per share: Income attributable to Hilltop $ 18,133 $ 33,260 $ 43,933 $ 55,510 Weighted average shares outstanding - basic 65,025 73,693 64,963 76,389 Effect of potentially dilutive securities 29 145 30 180 Weighted average shares outstanding - diluted 65,054 73,838 64,993 76,569 Diluted earnings per common share: $ 0.28 $ 0.45 $ 0.68 $ 0.73

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Nature of Operations and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 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	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Mortgage loans held for sale, fair value	$ 1,180	$ 855.7
Mortgage loans held for sale, unpaid principal balance	$ 1,180	$ 850.3

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financial assets:
Trading securities	$ 696,649	$ 755,032
Available for sale securities	1,526,869	1,658,766
Equity securities	258	200
MSR asset	95,101	100,825
Financial liabilities:
Securities sold, not yet purchased	74,761	53,023
Recurring
Financial assets:
Trading securities	696,649	755,032
Available for sale securities	1,526,869	1,658,766
Equity securities	258	200
Loans held for sale	1,180,327	855,697
Loans held for investment	9,714	9,181
Derivative assets	85,053	88,977
MSR asset	95,101	100,825
Financial liabilities:
Securities sold, not yet purchased	74,761	53,023
Derivative liabilities	15,188	11,405
Recurring \| Level 1
Financial assets:
Trading securities	7,546	15,456
Equity securities	258	200
Financial liabilities:
Securities sold, not yet purchased	47,787	25,506
Recurring \| Level 2
Financial assets:
Trading securities	689,103	739,576
Available for sale securities	1,526,869	1,658,766
Loans held for sale	1,139,035	814,990
Derivative assets	85,053	88,977
Financial liabilities:
Securities sold, not yet purchased	26,974	27,517
Derivative liabilities	15,188	11,405
Recurring \| Level 3
Financial assets:
Loans held for sale	41,292	40,707
Loans held for investment	9,714	9,181
MSR asset	$ 95,101	$ 100,825

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	$ 146,744	$ 156,063	$ 150,713	$ 134,706
Purchases/Additions	27,602	24,666	57,608	48,563
Sales/Reductions	(26,330)	(12,652)	(49,784)	(27,186)
Transfers to (from) Level 3		1,094	(446)	5,838
Total gains or losses (realized or unrealized):
Included in Net Income	(1,909)	3,276	(11,984)	10,526
Asset balance, End of Year	146,107	172,447	146,107	172,447
Loans held for sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	33,993	45,977	40,707	47,716
Purchases/Additions	20,712	13,456	37,508	20,442
Sales/Reductions	(7,275)	(12,090)	(30,729)	(24,748)
Transfers to (from) Level 3		1,094	(446)	5,838
Total gains or losses (realized or unrealized):
Included in Net Income	(6,138)	(6,705)	(5,748)	(7,516)
Asset balance, End of Year	41,292	41,732	41,292	41,732
Loans held for investment
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	9,437	9,611	9,181
Purchases/Additions				9,611
Sales/Reductions		(562)		(562)
Total gains or losses (realized or unrealized):
Included in Net Income	277	(22)	533	(22)
Asset balance, End of Year	9,714	9,027	9,714	9,027
MSR asset
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	103,314	100,475	100,825	86,990
Purchases/Additions	6,890	11,210	20,100	18,510
Sales/Reductions	(19,055)		(19,055)	(1,876)
Total gains or losses (realized or unrealized):
Included in Net Income	3,952	10,003	(6,769)	18,064
Asset balance, End of Year	$ 95,101	$ 121,688	$ 95,101	$ 121,688

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Jun. 30, 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	0.83	0.89
Loans held for sale \| Projected Price \| Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.82	0.88
Loans held for sale \| Projected Price \| Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.90	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	0.0849	0.0814
MSR asset \| Discount Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1171	0.1210

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value Option
Net Gains (Losses)	$ 48,535	$ 97,543	$ 88,501	$ 208,437
Other Noninterest Income	39,034	32,593	74,714	39,214
Transfers between Level 1 and Level 2			0
Loans held for sale
Fair Value Option
Net Gains (Losses)	(12,366)	14,862	(2,233)	(35,994)
Total Changes in Fair Value	(12,366)	14,862	(2,233)	(35,994)
Loans held for investment
Fair Value Option
Net Gains (Losses)		(283)		(283)
Total Changes in Fair Value		(283)		(283)
MSR asset
Fair Value Option
Net Gains (Losses)	3,952	10,003	(6,769)	18,064
Total Changes in Fair Value	$ 3,952	$ 10,003	$ (6,769)	$ 18,064

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financial assets:
Held to maturity securities	$ 755,186	$ 785,335
Loans held for investment, net	8,244,816	7,997,231
Broker-dealer and clearing organization receivables	1,474,177	1,038,055
Financial liabilities:
Broker-dealer and clearing organization payables	1,306,646	966,470
Carrying Amount
Financial assets:
Cash and cash equivalents	1,585,359	1,580,162
Assets segregated for regulatory purposes	50,711	67,737
Securities purchased under agreements to resell	143,982	118,070
Held to maturity securities	847,437	875,532
Loans held for sale	152,717	126,919
Loans held for investment, net	8,235,102	7,988,050
Broker-dealer and clearing organization receivables	1,474,177	1,038,055
Other assets	77,919	77,052
Financial liabilities:
Deposits	11,164,177	11,315,749
Broker-dealer and clearing organization payables	1,306,646	966,470
Short-term borrowings	1,628,637	970,056
Debt	364,531	346,654
Other liabilities	9,766	5,410
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	1,585,359	1,580,162
Assets segregated for regulatory purposes	50,711	67,737
Securities purchased under agreements to resell	143,982	118,070
Held to maturity securities	755,186	785,335
Loans held for sale	153,663	125,592
Loans held for investment, net	8,195,779	7,865,261
Broker-dealer and clearing organization receivables	1,474,177	1,038,055
Other assets	77,919	77,052
Financial liabilities:
Deposits	11,145,156	11,295,153
Broker-dealer and clearing organization payables	1,306,646	966,470
Short-term borrowings	1,628,637	970,056
Debt	344,720	350,104
Other liabilities	9,766	5,410
Estimate of Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	1,585,359	1,580,162
Assets segregated for regulatory purposes	50,711	67,737
Estimate of Fair Value \| Level 2
Financial assets:
Securities purchased under agreements to resell	143,982	118,070
Held to maturity securities	755,186	785,335
Loans held for sale	121,186	82,684
Loans held for investment, net	359,444	431,223
Broker-dealer and clearing organization receivables	1,474,177	1,038,055
Other assets	76,253	75,386
Financial liabilities:
Deposits	11,145,156	11,295,153
Broker-dealer and clearing organization payables	1,306,646	966,470
Short-term borrowings	1,628,637	970,056
Debt	344,720	350,104
Other liabilities	9,766	5,410
Estimate of Fair Value \| Level 3
Financial assets:
Loans held for sale	32,477	42,908
Loans held for investment, net	7,836,335	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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 22,507	$ 27,986	$ 27,264	$ 16,817
Additional investments				11,000
Upward adjustments	182	231	425	445
Impairments and downward adjustments	(35)	(34)	(5,035)	(79)
Balance, end of year	22,654	$ 28,183	22,654	$ 28,183
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 53,900		$ 53,900		$ 57,600

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of fair value of trading securities
Debt Securities, Trading	$ 696,649	$ 755,032
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	74,761	53,023
U.S. Treasury securities
Schedule of fair value of trading securities
Debt Securities, Trading	7,481	10,466
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	20,545	20,878
Residential mortgage-backed securities
Schedule of fair value of trading securities
Debt Securities, Trading	262,410	214,100
Collateralized mortgage obligations
Schedule of fair value of trading securities
Debt Securities, Trading	83,564	182,717
Corporate debt securities
Schedule of fair value of trading securities
Debt Securities, Trading	56,739	42,685
States and political subdivisions
Schedule of fair value of trading securities
Debt Securities, Trading	229,705	260,271
Private-label securitized product
Schedule of fair value of trading securities
Debt Securities, Trading	29,627	9,265
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 6,578	$ 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		6 Months Ended		12 Months Ended
	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Available for sale
Amortized Cost		$ 1,658,036		$ 1,658,036		$ 1,788,557
Unrealized Gains		334		334		460
Unrealized Losses		(131,501)		(131,501)		(130,251)
Fair Value		1,526,869		1,526,869		1,658,766
Held to maturity
Amortized Cost		847,437		847,437		875,532
Unrealized Gains		78		78		26
Unrealized Losses		(92,329)		(92,329)		(90,223)
Held to maturity, Fair Value		755,186		755,186		785,335
Equity Securities
Equity, at fair value		258		258		200
Unrealized net gains (losses) from equity securities during the year				200		100
Recognized net (loss) gain on equity securities		100	$ (100)	100	$ (100)
U.S. Treasury securities
Available for sale
Amortized Cost		4,982		4,982		19,655
Unrealized Gains						3
Unrealized Losses		(492)		(492)		(514)
Fair Value		4,490		4,490		19,144
Bonds
Available for sale
Amortized Cost		173,688		173,688		202,834
Unrealized Gains		190		190		323
Unrealized Losses		(1,383)		(1,383)		(900)
Fair Value		172,495		172,495		202,257
Residential mortgage-backed securities
Available for sale
Amortized Cost		421,362		421,362		455,121
Unrealized Gains						12
Unrealized Losses		(47,423)		(47,423)		(48,775)
Fair Value		373,939		373,939		406,358
Held to maturity
Amortized Cost		289,806		289,806		301,583
Unrealized Losses		(28,471)		(28,471)		(29,727)
Held to maturity, Fair Value		261,335		261,335		271,856
Commercial mortgage-backed securities
Available for sale
Amortized Cost		183,708		183,708		183,266
Unrealized Gains		56		56		65
Unrealized Losses		(8,635)		(8,635)		(7,832)
Fair Value		175,129		175,129		175,499
Held to maturity
Amortized Cost		180,109		180,109		180,942
Unrealized Losses		(15,529)		(15,529)		(14,935)
Held to maturity, Fair Value		164,580		164,580		166,007
Collateralized mortgage obligations
Available for sale
Amortized Cost		834,844		834,844		887,521
Unrealized Gains		38		38
Unrealized Losses		(70,012)		(70,012)		(68,627)
Fair Value		764,870		764,870		818,894
Held to maturity
Amortized Cost		299,519		299,519		314,705
Unrealized Losses		(41,390)		(41,390)		(38,343)
Held to maturity, Fair Value		258,129		258,129		276,362
States and political subdivisions
Available for sale
Amortized Cost		39,452		39,452		40,160
Unrealized Gains		50		50		57
Unrealized Losses		(3,556)		(3,556)		(3,603)
Fair Value		35,946		35,946		36,614
Held to maturity
Amortized Cost		78,003		78,003		78,302
Unrealized Gains		78		78		26
Unrealized Losses		(6,939)		(6,939)		(7,218)
Held to maturity, Fair Value		$ 71,142		$ 71,142		$ 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	Jun. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Number of Securities
Unrealized loss for less than twelve months \| item	120	252
Unrealized loss for twelve months or longer \| item	257	119
Total \| item	377	371
Fair Value
Unrealized loss for less than twelve months	$ 373,930	$ 930,361
Unrealized loss for twelve months or longer	1,115,197	596,199
Total	1,489,127	1,526,560
Unrealized Loss
Unrealized loss for less than twelve months	10,764	44,415
Unrealized loss for twelve months or longer	120,737	85,836
Total	$ 131,501	$ 130,251
U.S. 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	$ 4,490	$ 4,465
Total	4,490	4,465
Unrealized Loss
Unrealized loss for twelve months or longer	492	514
Total	$ 492	$ 514
Bonds
Number of Securities
Unrealized loss for less than twelve months \| item	23	15
Unrealized loss for twelve months or longer \| item	3	3
Total \| item	26	18
Fair Value
Unrealized loss for less than twelve months	$ 147,011	$ 98,246
Unrealized loss for twelve months or longer	14,196	15,263
Total	161,207	113,509
Unrealized Loss
Unrealized loss for less than twelve months	1,082	388
Unrealized loss for twelve months or longer	301	512
Total	$ 1,383	$ 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	82	30
Total \| item	127	125
Fair Value
Unrealized loss for less than twelve months	$ 66,246	$ 168,351
Unrealized loss for twelve months or longer	307,692	236,739
Total	373,938	405,090
Unrealized Loss
Unrealized loss for less than twelve months	3,304	10,036
Unrealized loss for twelve months or longer	44,119	38,739
Total	$ 47,423	$ 48,775
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item	5	11
Unrealized loss for twelve months or longer \| item	14	8
Total \| item	19	19
Fair Value
Unrealized loss for less than twelve months	$ 29,845	$ 79,337
Unrealized loss for twelve months or longer	140,501	86,923
Total	170,346	166,260
Unrealized Loss
Unrealized loss for less than twelve months	1,351	2,047
Unrealized loss for twelve months or longer	7,284	5,785
Total	$ 8,635	$ 7,832
Collateralized mortgage obligations
Number of Securities
Unrealized loss for less than twelve months \| item	20	97
Unrealized loss for twelve months or longer \| item	123	48
Total \| item	143	145
Fair Value
Unrealized loss for less than twelve months	$ 119,282	$ 563,872
Unrealized loss for twelve months or longer	632,286	244,917
Total	751,568	808,789
Unrealized Loss
Unrealized loss for less than twelve months	4,823	30,980
Unrealized loss for twelve months or longer	65,189	37,647
Total	$ 70,012	$ 68,627
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months \| item	27	34
Unrealized loss for twelve months or longer \| item	34	29
Total \| item	61	63
Fair Value
Unrealized loss for less than twelve months	$ 11,546	$ 20,555
Unrealized loss for twelve months or longer	16,032	7,892
Total	27,578	28,447
Unrealized Loss
Unrealized loss for less than twelve months	204	964
Unrealized loss for twelve months or longer	3,352	2,639
Total	$ 3,556	$ 3,603

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Jun. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Number of Securities
Unrealized loss for less than twelve months \| item	58	212
Unrealized loss for twelve months or longer \| item	241	97
Total \| item	299	309
Fair Value
Unrealized loss for less than twelve months	$ 34,780	$ 315,556
Unrealized loss for twelve months or longer	713,145	466,222
Total	747,925	781,778
Unrealized Losses
Unrealized loss for less than twelve months	1,135	28,998
Unrealized loss for twelve months or longer	91,194	61,225
Total	$ 92,329	$ 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	41	31
Total \| item	41	45
Fair Value
Unrealized loss for less than twelve months		$ 59,089
Unrealized loss for twelve months or longer	$ 261,335	212,768
Total	261,335	271,857
Unrealized Losses
Unrealized loss for less than twelve months		5,928
Unrealized loss for twelve months or longer	28,471	23,799
Total	$ 28,471	$ 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	$ 10,627	$ 163,172
Unrealized loss for twelve months or longer	153,952	2,834
Total	164,579	166,006
Unrealized Losses
Unrealized loss for less than twelve months	434	14,483
Unrealized loss for twelve months or longer	15,095	452
Total	$ 15,529	$ 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	$ 258,128	242,527
Total	258,128	276,363
Unrealized Losses
Unrealized loss for less than twelve months		3,225
Unrealized loss for twelve months or longer	41,390	35,118
Total	$ 41,390	$ 38,343
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months \| item	55	150
Unrealized loss for twelve months or longer \| item	118	27
Total \| item	173	177
Fair Value
Unrealized loss for less than twelve months	$ 24,153	$ 59,459
Unrealized loss for twelve months or longer	39,730	8,093
Total	63,883	67,552
Unrealized Losses
Unrealized loss for less than twelve months	701	5,362
Unrealized loss for twelve months or longer	6,238	1,856
Total	$ 6,939	$ 7,218

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 11,547
Due after one year through five years	74,378
Due after five years through ten years	61,678
Due after ten years	70,519
Total	218,122
Amortized Cost	1,658,036	$ 1,788,557
AFS, Fair Value, Rolling Maturity
Due in one year or less	11,271
Due after one year through five years	73,073
Due after five years through ten years	61,140
Due after ten years	67,447
Total	212,931
Fair Value	1,526,869	1,658,766
Residential mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	421,362
Amortized Cost	421,362	455,121
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	373,939
Fair Value	373,939	406,358
Commercial mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	183,708
Amortized Cost	183,708	183,266
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	175,129
Fair Value	175,129	175,499
Collateralized mortgage obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	834,844
Amortized Cost	834,844	887,521
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	764,870
Fair Value	$ 764,870	$ 818,894

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 882
Due after one year through five years	1,308
Due after five years through ten years	28,303
Due after ten years	47,510
Total	78,003
Amortized Cost	847,437	$ 875,532
HTM, Fair Value, Rolling Maturities
Due in one year or less	881
Due after one year through five years	1,231
Due after five years through ten years	26,623
Due after ten years	42,407
Total	71,142
Fair Value	755,186	785,335
Residential mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	289,806
Amortized Cost	289,806	301,583
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	261,335
Fair Value	261,335	271,856
Commercial mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	180,109
Amortized Cost	180,109	180,942
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	164,580
Fair Value	164,580	166,007
Collateralized mortgage obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	299,519
Amortized Cost	299,519	314,705
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	258,129
Fair Value	$ 258,129	$ 276,362

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Securities
Realized net gains (losses) from trading securities portfolio	$ 9.2	$ 6.8	$ 19.7	$ (4.7)
Financial Instrument, Owned, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral		Asset Pledged as Collateral		Asset Pledged as Collateral
Asset Pledged as Collateral
Securities
Carrying amount of securities pledged	$ 640		$ 640		$ 778.6
Fair value of securities pledged	594.1		594.1		$ 717.6
Hilltop Broker-Dealers
Securities
Realized net gains (losses) from trading securities portfolio	$ 11.3	$ 2.4	$ 43.9	$ 9.1

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Loans
Loans	$ 8,354,122		$ 8,092,673
Allowance for loan losses	(109,306)	$ (97,354)	(95,442)	$ (95,298)	$ (91,185)	$ (91,352)
Loans held for investment, net	8,244,816		7,997,231
Commercial real estate
Loans
Loans	3,275,910		3,245,873
Allowance for loan losses	(71,462)	(61,521)	(63,255)	(63,719)	(60,361)	(59,354)
Commercial and industrial
Loans
Loans	1,797,639		1,639,980
Allowance for loan losses	(17,315)	(16,615)	(16,035)	(19,836)	(20,130)	(21,982)
Construction and land development
Loans
Loans	1,083,103		980,896
Allowance for loan losses	(7,395)	(5,999)	(6,051)	(4,996)	(5,515)	(4,674)
1 - 4 family residential
Loans
Loans	1,811,362		1,767,099
Allowance for loan losses	(11,618)	(11,691)	(9,313)	(5,554)	(4,340)	(4,589)
Consumer
Loans
Loans	26,664		27,602
Allowance for loan losses	(615)	(563)	(554)	(542)	(499)	(578)
Broker-dealer
Loans
Loans	359,444		431,223
Allowance for loan losses	$ (901)	$ (965)	$ (234)	$ (651)	$ (340)	$ (175)

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 8,354,122	$ 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	31,760	15,788
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,813	3,742
Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,034	10,314
Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	43,607	29,844
Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,310,515	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	130,000	92,000
Unpaid principal balance loans past due 90 days or more	130,300	92,400
Commercial real estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,275,910	3,245,873
Commercial real estate \| Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,870,201	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	8,003	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	34	235
Commercial real estate \| Non-owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,037	802
Commercial real estate \| Non-owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,862,164	1,869,750
Commercial real estate \| Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,405,709	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	4,964	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	2,247	2,880
Commercial real estate \| Owner occupied \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	12
Commercial real estate \| Owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	7,223	3,917
Commercial real estate \| Owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,398,486	1,371,404
Commercial and industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,797,639	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	14,002	609
Commercial and industrial \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	59	82
Commercial and industrial \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	4,641	5,598
Commercial and industrial \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	18,702	6,289
Commercial and industrial \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,778,937	1,633,691
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,083,103	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	1,647	3,665
Construction and land development \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,647	3,665
Construction and land development \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,081,456	977,231
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,811,362	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	3,097	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	1,506	773
1 - 4 family residential \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,338	4,467
1 - 4 family residential \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	7,941	14,973
1 - 4 family residential \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,803,421	1,752,126
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	26,664	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	47	177
Consumer \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1	7
Consumer \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	9	14
Consumer \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	57	198
Consumer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	26,607	27,404
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	359,444	431,223
Broker-dealer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 359,444	$ 431,223

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) loan property	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Non-accrual loans
Non-accrual Loans With Allowance	$ 2,632		$ 2,632		$ 7,725
Non-accrual Loans With No Allowance	32,563		32,563		16,949
Non-accrual loans	35,195		35,195		24,674
Interest Income Recognized	865	$ 2,145	1,645	$ 2,941
Increase (decrease) in non-accrual status loans			10,500
Commercial real estate
Non-accrual loans
Increase (decrease) in non-accrual status loans			$ (1,900)
Number of office property foreclosed \| property			1
Commercial real estate \| Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	472		$ 472		688
Non-accrual Loans With No Allowance	1,984		1,984		562
Non-accrual loans	2,456		2,456		1,250
Interest Income Recognized	58	60	181	157
Commercial real estate \| Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	767		767		2,862
Non-accrual Loans With No Allowance	329		329		157
Non-accrual loans	1,096		1,096		3,019
Interest Income Recognized	261	334	324	417
Commercial and industrial
Non-accrual loans
Non-accrual Loans With Allowance	582		582		3,727
Non-accrual Loans With No Allowance	20,860		20,860		5,368
Non-accrual loans	21,442		21,442		9,095
Interest Income Recognized	138	439	269	627
Increase (decrease) in non-accrual status loans			12,300
Increase in financing receivable non accrual status			$ 14,200
Number of non-accrual loan additions during the period \| loan			2
Construction and land development
Non-accrual loans
Non-accrual Loans With Allowance	395		$ 395		1
Non-accrual loans	395		395		1
Interest Income Recognized	29	8	36	15
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	407		407		433
Non-accrual Loans With No Allowance	9,390		9,390		10,862
Non-accrual loans	9,797		9,797		11,295
Interest Income Recognized	379	$ 1,304	835	$ 1,725
Increase (decrease) in non-accrual status loans			(1,500)
1 - 4 family residential \| Secured by Residential Properties [Member]
Non-accrual loans
Non-accrual loans held for sale	3,800		3,800		4,800
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	9		9		14
Non-accrual loans	$ 9		$ 9		$ 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	Jun. 30, 2023 USD ($)
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0.70%
Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 57,443
Payment Delay
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 2,960
Commercial real estate \| Non-owner occupied
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	2.30%
Commercial real estate \| Non-owner occupied \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 43,538
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	$ 2,214
Commercial and industrial
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0.80%
Commercial and industrial \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 11,383
Commercial and industrial \| Payment Delay
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 2,960
Construction and land development
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0%
Construction and land development \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 308

Loans Held for Investment - Fin

Loans Held for Investment - Financial effects of the loans held for investment modified for borrowers (Details)	6 Months Ended
	Jun. 30, 2023
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	22 months
Commercial real estate \| Non-owner occupied
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	25 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)	8 months
Construction and land development
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	9 months

Loans Held for Investment - A_2

Loans Held for Investment - Aging of Modified Loans (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Loans Held for Investment
Number of loans that have been modified during the period for which a payment was at least 30 days past due.	0

Loans Held for Investment - TDR

Loans Held for Investment - TDRs (Details)	3 Months Ended	6 Months Ended
Loans Held for Investment - TDRs (Details)	Jun. 30, 2022 USD ($) loan	Jun. 30, 2023 loan	Jun. 30, 2022 USD ($) loan contract
TDRs, Non-covered loans
Number of TDRs granted \| loan	2		3
TDR at extension	$ 3,000,000		$ 3,600,000
TDR modifications, end of period	3,000,000		3,100,000
Unadvanced commitments to borrowers	$ 0		$ 0
Number of TDRs granted in preceding twelve months for which payment was at least 30 days past due \| contract			0
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Internal risk grades of non-covered loans
2023	$ 858,312		$ 858,312
2022	2,195,729		2,195,729
2021	2,075,270		2,075,270
2020	708,336		708,336
2019	355,838		355,838
2018 and Prior	624,053		624,053
Revolving	784,256		784,256
Loans Converted To Term Loans	52,788		52,788
Total loans with credit quality measures	7,654,582		7,654,582
Allowance for loan and lease losses write-offs	3,073	$ 2,024	4,251	$ 3,361
Total	8,354,122		8,354,122		$ 8,092,673
Commercial real estate
Internal risk grades of non-covered loans
Allowance for loan and lease losses write-offs			977
Total	3,275,910		3,275,910		3,245,873
Commercial real estate \| Non-owner occupied
Internal risk grades of non-covered loans
Total	1,870,201		1,870,201		1,870,552
Commercial real estate \| Non-owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	657		657
2022	37,424		37,424
2021	33,322		33,322
2020	8,877		8,877
2019	7,813		7,813
2018 and Prior	6,905		6,905
Revolving	51		51
Loans Converted To Term Loans	194		194
Total loans with credit quality measures	95,243		95,243
Commercial real estate \| Non-owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	90,911		90,911
2022	298,895		298,895
2021	395,438		395,438
2020	128,334		128,334
2019	75,641		75,641
2018 and Prior	61,348		61,348
Revolving	33,100		33,100
Loans Converted To Term Loans	1,807		1,807
Total loans with credit quality measures	1,085,474		1,085,474
Commercial real estate \| Non-owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	54,971		54,971
2022	150,585		150,585
2021	112,274		112,274
2020	92,970		92,970
2019	55,209		55,209
2018 and Prior	114,396		114,396
Revolving	14,676		14,676
Loans Converted To Term Loans	847		847
Total loans with credit quality measures	595,928		595,928
Commercial real estate \| Non-owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	55,940		55,940
2022	11,797		11,797
2021	14,550		14,550
2020	1,600		1,600
2019	6,078		6,078
2018 and Prior	1,135		1,135
Total loans with credit quality measures	91,100		91,100
Commercial real estate \| Non-owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	1,442		1,442
2021	385		385
2018 and Prior	629		629
Total loans with credit quality measures	2,456		2,456
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	1,405,709		1,405,709		1,375,321
Commercial real estate \| Owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	34,739		34,739
2022	20,200		20,200
2021	110,795		110,795
2020	53,924		53,924
2019	17,513		17,513
2018 and Prior	62,379		62,379
Revolving	2,802		2,802
Loans Converted To Term Loans	14,710		14,710
Total loans with credit quality measures	317,062		317,062
Commercial real estate \| Owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	55,489		55,489
2022	177,783		177,783
2021	148,245		148,245
2020	86,997		86,997
2019	73,217		73,217
2018 and Prior	124,323		124,323
Revolving	16,804		16,804
Total loans with credit quality measures	682,858		682,858
Commercial real estate \| Owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	21,336		21,336
2022	89,184		89,184
2021	78,420		78,420
2020	79,419		79,419
2019	20,976		20,976
2018 and Prior	70,269		70,269
Revolving	5,921		5,921
Loans Converted To Term Loans	1,514		1,514
Total loans with credit quality measures	367,039		367,039
Commercial real estate \| Owner occupied \| Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2020	638		638
2019	2,781		2,781
Total loans with credit quality measures	3,419		3,419
Commercial real estate \| Owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	2,351		2,351
2022	7,307		7,307
2021	2,773		2,773
2020	6,894		6,894
2019	1,470		1,470
2018 and Prior	13,274		13,274
Revolving	166		166
Total loans with credit quality measures	34,235		34,235
Commercial real estate \| Owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	172		172
2021	663		663
2018 and Prior	261		261
Total loans with credit quality measures	1,096		1,096
Commercial and industrial
Internal risk grades of non-covered loans
Current period gross charge-offs, 2023			53
Current period gross charge-offs, 2022			3,001
Current period gross charge-offs, 2019			25
Allowance for loan and lease losses write-offs	3,020	1,892	3,079	3,101
Total	1,797,639		1,797,639		1,639,980
Commercial and industrial \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	10,502		10,502
2022	31,296		31,296
2021	32,937		32,937
2020	20,027		20,027
2019	20,541		20,541
2018 and Prior	2,649		2,649
Revolving	27,000		27,000
Total loans with credit quality measures	144,952		144,952
Commercial and industrial \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	45,580		45,580
2022	114,639		114,639
2021	140,978		140,978
2020	36,366		36,366
2019	6,126		6,126
2018 and Prior	15,881		15,881
Revolving	300,172		300,172
Loans Converted To Term Loans	256		256
Total loans with credit quality measures	659,998		659,998
Commercial and industrial \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	63,626		63,626
2022	114,686		114,686
2021	38,346		38,346
2020	31,942		31,942
2019	9,237		9,237
2018 and Prior	9,175		9,175
Revolving	293,752		293,752
Loans Converted To Term Loans	2,465		2,465
Total loans with credit quality measures	563,229		563,229
Commercial and industrial \| Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2021	140		140
Revolving	79		79
Total loans with credit quality measures	219		219
Commercial and industrial \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	3,897		3,897
2022	2,008		2,008
2021	4,789		4,789
2020	4,276		4,276
2019	5,029		5,029
2018 and Prior	5,306		5,306
Revolving	15,815		15,815
Loans Converted To Term Loans	26,583		26,583
Total loans with credit quality measures	67,703		67,703
Commercial and industrial \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2023	84		84
2022	177		177
2021	162		162
2020	4,616		4,616
2018 and Prior	2,258		2,258
Revolving	10,380		10,380
Loans Converted To Term Loans	3,765		3,765
Total loans with credit quality measures	21,442		21,442
Commercial and industrial \| Mortgage Warehouse Lending
Internal risk grades of non-covered loans
Loans without credit quality measures	330,382		330,382
Commercial and industrial \| Loans Accounted At Fair Value
Internal risk grades of non-covered loans
Loans without credit quality measures	9,714		9,714
Construction and land development
Internal risk grades of non-covered loans
Total	1,083,103		1,083,103		980,896
Construction and land development \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	87		87
2022	2,717		2,717
2018 and Prior	946		946
Total loans with credit quality measures	3,750		3,750
Construction and land development \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	11,638		11,638
2022	9,288		9,288
2021	122		122
2020	52		52
Total loans with credit quality measures	21,100		21,100
Construction and land development \| Other.
Internal risk grades of non-covered loans
2023	96		96
2022	27		27
Total loans with credit quality measures	123		123
Construction and land development \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	1,729		1,729
2022	20,641		20,641
2021	10,639		10,639
2020	406		406
2019	833		833
2018 and Prior	2,376		2,376
Total loans with credit quality measures	36,624		36,624
Construction and land development \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	164,313		164,313
2022	322,044		322,044
2021	107,413		107,413
2020	28,527		28,527
2019	892		892
2018 and Prior	1,860		1,860
Revolving	43,545		43,545
Total loans with credit quality measures	668,594		668,594
Construction and land development \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	99,990		99,990
2022	173,112		173,112
2021	52,808		52,808
2020	4,417		4,417
2019	2,399		2,399
2018 and Prior	210		210
Revolving	9,021		9,021
Total loans with credit quality measures	341,957		341,957
Construction and land development \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2020	10,560		10,560
Total loans with credit quality measures	10,560		10,560
Construction and land development \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2022	395		395
Total loans with credit quality measures	395		395
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		33	73	48
Total	1,811,362		1,811,362		1,767,099
1 - 4 family residential \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2023	151		151
2022	1,464		1,464
2021	658		658
2020	762		762
2019	278		278
2018 and Prior	24,061		24,061
Revolving	244		244
Total loans with credit quality measures	27,618		27,618
1 - 4 family residential \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	2,752		2,752
2022	16,849		16,849
2021	12,901		12,901
2020	6,828		6,828
2019	4,880		4,880
2018 and Prior	27,801		27,801
Revolving	1,749		1,749
Total loans with credit quality measures	73,760		73,760
1 - 4 family residential \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	116,871		116,871
2022	558,654		558,654
2021	762,069		762,069
2020	96,884		96,884
2019	42,182		42,182
2018 and Prior	64,146		64,146
Revolving	3,664		3,664
Loans Converted To Term Loans	636		636
Total loans with credit quality measures	1,645,106		1,645,106
1 - 4 family residential \| Substandard non-accrual
Internal risk grades of non-covered loans
2022	537		537
2018 and Prior	9,260		9,260
Total loans with credit quality measures	9,797		9,797
1 - 4 family residential \| Other.
Internal risk grades of non-covered loans
2023	13,160		13,160
2022	22,735		22,735
2021	12,015		12,015
2020	1,395		1,395
2019	2,278		2,278
2018 and Prior	3,121		3,121
Revolving	377		377
Total loans with credit quality measures	55,081		55,081
Consumer
Internal risk grades of non-covered loans
Current period gross charge-offs, 2023			44
Current period gross charge-offs, 2022			54
Current period gross charge-offs,2021			6
Current period gross charge-offs, 2020			5
Current period gross charge-offs, 2019			2
Current period gross charge-offs, 2018 and prior			11
Allowance for loan and lease losses write-offs	53	$ 99	122	$ 212
Total	26,664		26,664		27,602
Consumer \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2023	561		561
2022	609		609
2021	158		158
2020	93		93
2019	19		19
2018 and Prior	5		5
Revolving	366		366
Loans Converted To Term Loans	2		2
Total loans with credit quality measures	1,813		1,813
Consumer \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	2,406		2,406
2022	2,351		2,351
2021	633		633
2020	391		391
2019	220		220
2018 and Prior	44		44
Revolving	1,966		1,966
Loans Converted To Term Loans	8		8
Total loans with credit quality measures	8,019		8,019
Consumer \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	1,679		1,679
2022	3,662		3,662
2021	1,151		1,151
2020	813		813
2019	154		154
2018 and Prior	10		10
Revolving	2,454		2,454
Loans Converted To Term Loans	1		1
Total loans with credit quality measures	9,924		9,924
Consumer \| Substandard non-accrual
Internal risk grades of non-covered loans
2018 and Prior	9		9
Total loans with credit quality measures	9		9
Consumer \| Other.
Internal risk grades of non-covered loans
2023	2,796		2,796
2022	3,049		3,049
2021	486		486
2020	328		328
2019	72		72
2018 and Prior	16		16
Revolving	152		152
Total loans with credit quality measures	6,899		6,899
Broker-dealer
Internal risk grades of non-covered loans
Loans without credit quality measures	359,444		359,444
Total	$ 359,444		$ 359,444		$ 431,223

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Allowance for loan losses
Available for sale debt securities past due	$ 0		$ 0
Available-for-sale allowance for credit loss	0		0
Provision (reversal) in allowance on individually evaluated loans	1,900	$ (1,300)	2,700	$ (1,000)
Provision (reversal) in allowance on collectively evaluated loans	12,900	6,600	14,500	6,400
Net charge-offs	$ 2,900	$ 1,200	$ 3,300	$ 1,500
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	$ 97,354	$ 91,185	$ 95,442	$ 91,352
Provision for (Reversal of) Credit Losses	14,836	5,336	17,167	5,451
Loans Charged Off	(3,073)	(2,024)	(4,251)	(3,361)
Recoveries on Charged Off Loans	189	801	948	1,856
Balance, End of Period	109,306	95,298	109,306	95,298
Commercial real estate
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	61,521	60,361	63,255	59,354
Provision for (Reversal of) Credit Losses	9,921	3,347	9,153	4,322
Loans Charged Off			(977)
Recoveries on Charged Off Loans	20	11	31	43
Balance, End of Period	71,462	63,719	71,462	63,719
Commercial and industrial
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	16,615	20,130	16,035	21,982
Provision for (Reversal of) Credit Losses	3,632	871	3,579	(679)
Loans Charged Off	(3,020)	(1,892)	(3,079)	(3,101)
Recoveries on Charged Off Loans	88	727	780	1,634
Balance, End of Period	17,315	19,836	17,315	19,836
Construction and land development
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	5,999	5,515	6,051	4,674
Provision for (Reversal of) Credit Losses	1,396	(519)	1,344	322
Balance, End of Period	7,395	4,996	7,395	4,996
1 - 4 family residential
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	11,691	4,340	9,313	4,589
Provision for (Reversal of) Credit Losses	(108)	1,212	2,326	965
Loans Charged Off		(33)	(73)	(48)
Recoveries on Charged Off Loans	35	35	52	48
Balance, End of Period	11,618	5,554	11,618	5,554
Consumer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	563	499	554	578
Provision for (Reversal of) Credit Losses	59	114	98	45
Loans Charged Off	(53)	(99)	(122)	(212)
Recoveries on Charged Off Loans	46	28	85	131
Balance, End of Period	615	542	615	542
Broker-dealer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	965	340	234	175
Provision for (Reversal of) Credit Losses	(64)	311	667	476
Balance, End of Period	$ 901	$ 651	$ 901	$ 651

Allowance for Credit Losses - O

Allowance for Credit Losses - Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period	$ 6,805	$ 6,487	$ 7,784	$ 5,880
Other noninterest expense	1,187	444	208	1,051
Balance, end of period	$ 7,992	$ 6,931	$ 7,992	$ 6,931

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Change in fair value of mortgage servicing rights
Balance, beginning of year			$ 100,825
Balance, end of year	$ 95,101		95,101		$ 100,825
MSR asset
Change in fair value of mortgage servicing rights
Balance, beginning of year	103,314	$ 100,475	100,825	$ 86,990	86,990
Additions	6,890	11,210	20,100	18,510
Sales	(19,055)		(19,055)	(1,876)
Changes in fair value: Due to changes in model inputs or assumptions	5,326	13,237	(4,539)	24,093
Changes in fair value: Due to customer payoffs	(1,374)	(3,234)	(2,230)	(6,029)
Balance, end of year	95,101	$ 121,688	95,101	$ 121,688	100,825
Mortgage loans serviced for others	$ 4,986,261		$ 4,986,261		$ 5,144,558
MSR asset as a percentage of serviced mortgage loans	1.91%		1.91%		1.96%
Key Assumptions
Weighted average constant prepayment rate (as a percent)			8.49%		8.14%
Weighted average discount rate (as a percent)			11.71%		12.10%
Weighted average life (in years)			8 years 3 months 18 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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (3,288)		$ (3,288)		$ (3,288)
Constant prepayment rate: Impact of 20% adverse change	(6,362)		(6,362)		(6,375)
Discount rate: Impact of 10% adverse change	(4,404)		(4,404)		(4,797)
Discount rate: Impact of 20% adverse change	(8,404)		(8,404)		$ (9,147)
Contractually specified servicing fees, late fees and ancillary fees	$ 8,300	$ 8,900	$ 15,600	$ 17,500

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Deposits
Noninterest-bearing demand	$ 3,451,438	$ 3,968,862
Interest-bearing:
Demand accounts	3,990,812	4,110,418
Brokered - demand	305,920	5,336
Money market	2,025,849	2,045,554
Brokered - money market	9,813	9,031
Savings	281,699	312,140
Time	1,007,315	864,408
Brokered - time	91,331
Total deposits	11,164,177	$ 11,315,749
Time deposits that meet or exceed FDIC insurance limit	$ 414,300

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	6 Months Ended
Short-term Borrowings (Details) $ in Thousands	Jun. 30, 2023 USD ($) item	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Short-term borrowings
Short-term borrowings	$ 1,628,637		$ 970,056
Federal funds purchased
Short-term borrowings
Short-term borrowings	438,908		397,108
Securities sold under agreements to repurchase
Short-term borrowings
Short-term borrowings	402,594		297,856
Federal Home Loan Bank
Short-term borrowings
Short-term borrowings	500,000
Average balance during the period	$ 252,901
Average interest rate during the period	5.05%
Average interest rate at end of period (as a percent)	5.35%
Federal Home Loan Bank \| Maximum
Short-term borrowings
Maturity term of debt	365 days
Short-term bank loans
Short-term borrowings
Short-term borrowings	$ 78,000		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)	6.26%
Commercial paper
Short-term borrowings
Short-term borrowings	$ 209,135		$ 217,592
Number of commercial paper programs initiated \| item	2
Weighted average interest rate on short-term bank loan borrowings (as a percent)	5.99%
Weighted average remaining life	73 days
Debt instrument, collateral	$ 230,700
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	141 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	$ 768,514	$ 477,533
Average interest rate during the period	5.16%	0.67%
Average interest rate at end of period (as a percent)	5.38%		4.37%
Securities underlying the agreements at end of period: Carrying value	$ 402,714		$ 296,075
Securities underlying the agreements at end of period: Estimated fair value	$ 431,244		$ 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	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument
Notes payable	$ 364,531	$ 346,654
Senior Notes due April 2025
Debt Instrument
Notes payable	149,398	149,301
Unamortized discount	602	699
Subordinated Notes due May 2030
Debt Instrument
Notes payable	49,439	49,390
Unamortized discount	561	610
Subordinated Notes Due May 2035
Debt Instrument
Notes payable	148,059	147,963
Unamortized discount	1,941	$ 2,037
Ventures Management lines of credit
Debt Instrument
Notes payable	$ 17,635

Lease - Supplemental balance sh

Lease - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(6,243)	(5,948)
Premises and equipment, net	$ 1,537	$ 1,832

Lease - Components of lease cos

Lease - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Components of operating lease costs
Operating lease cost	$ 9,015	$ 9,352	$ 17,744	$ 18,958
Less operating lease and sublease income	(678)	(561)	(1,311)	(1,130)
Net operating lease cost	8,337	8,791	16,433	17,828
Amortization of ROU assets	147	147	295	295
Interest on lease liabilities	108	121	220	245
Total finance lease cost	$ 255	$ 268	$ 515	$ 540

Lease - Supplemental cash flow

Lease - Supplemental cash flow information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases
Operating cash flows from operating leases	$ 19,150	$ 18,713
Operating cash flows from finance leases	222	247
Financing cash flows from finance leases	409	372
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 9,559	$ 8,266

Lease - Lease terms and discoun

Lease - Lease terms and discount rates (Details)	Jun. 30, 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 7 months 6 days	4 years
Operating - Weighted Average Discount Rate	4.35%	3.89%
Finance - Weighted Average Discount Rate	4.93%	4.89%

Lease - Lease maturities (Detai

Lease - Lease maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating leases maturities
2023	$ 20,707
2024	36,971
2025	30,964
2026	24,293
2027	17,646
Thereafter	37,708
Total minimum lease payments	168,289
Less amount representing interest	(48,290)
Lease liabilities	119,999	$ 126,759
Finance Leases maturities:
2023	649
2024	1,163
2025	886
2026	813
2027	448
Thereafter	149
Total minimum lease payments	4,108
Less amount representing interest	(1,113)
Lease liabilities	$ 2,995
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities.

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Taxes
Effective income tax rate (as a percent)	26.40%	25.60%	18.50%	23.20%

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 08, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 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		$ 27,197	$ 30,271	$ 31,244	$ 31,407
Claims made		16,594	18,216	31,009	28,058
Claims resolved with no payment		(4,237)	(3,454)	(9,785)	(7,974)
Repurchases		(11,092)	(16,318)	(21,000)	(22,776)
Indemnification payments		(895)		(3,901)
Balance, end of period		27,567	28,715	27,567	28,715
Reserve for Indemnification Liability:
Total		27,567	28,715	27,567	28,715	$ 31,244
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses		500	800	800	1,200
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of period		18,270	27,250	20,528	27,424
Additions for new sales		490	762	837	1,515
Repurchases		(3,525)	(4,211)	(5,885)	(4,775)
Early payment defaults		(133)	(51)	(231)	(122)
Indemnification payments		(44)		(191)
Change in reserves for loans sold in prior years					(292)
Balance, end of period		15,058	23,750	15,058	23,750
Reserve for Indemnification Liability:
Specific claims		859		859		627
Incurred but not reported claims		14,199		14,199		19,901
Total		$ 15,058	$ 23,750	$ 15,058	$ 23,750	$ 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	Jun. 30, 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	$ 61.7

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
2020 Plan \| Director
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	9,957	10,748

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2020 Plan - RSUs shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of shares outstanding
Balance at the beginning of the period ( in shares) \| shares	1,548
Granted (in shares) \| shares	479
Vested/Released (in shares) \| shares	(644)
Forfeited (in shares) \| shares	(10)
Balance at the end of the period ( in shares) \| shares	1,373
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	34.36
Vested/Released (in dollars per share) \| $ / shares	21.65
Forfeited (in dollars per share) \| $ / shares	30.29
Balance at the end of the period (in dollars per share) \| $ / shares	$ 33.22

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2020 Plan - RSUs $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)	122,321
Number of shares awarded (in shares)	479,000
Number of awards subject to time-based vesting (in shares)	998,648
Number of awards vesting upon achievement of performance goals (in shares)	374,299
Performance period	3 years
Vesting period	3 years
Unrecognized compensation expense \| $	$ 23.3
Weighted average period for unrecognized compensation expense (in years)	1 year 5 months 26 days
Certain Executives and Key Employees
Stock based compensation
Number of shares awarded (in shares)	386,850
Number of awards subject to time-based vesting (in shares)	295,992
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	6 Months Ended
	Jun. 30, 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	$ 1,419,063	$ 1,405,164
Actual Ratio	0.1028	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	$ 1,419,063	$ 1,405,164
Actual Ratio	0.1451	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	$ 1,419,063	$ 1,405,164
Actual Ratio	0.1451	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	$ 1,525,074	$ 1,492,576
Actual Ratio	0.1559	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	$ 1,924,545	$ 1,900,701
Actual Ratio	0.1147	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	$ 1,924,545	$ 1,900,701
Actual Ratio	0.1763	0.1823
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.070
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,924,545	$ 1,900,701
Actual Ratio	0.1763	0.1823
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.085
Total capital (to risk-weighted assets)
Actual Amount	$ 2,230,993	$ 2,187,652
Actual Ratio	0.2044	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	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 50,711	$ 67,737	$ 120,816
Hilltop Securities
Net Capital
Net capital	265,233
Less: required net capital	8,031
Excess net capital	$ 257,202
Net capital as a percentage of aggregate debit items	66.10%
Net capital in excess of 5% aggregate debt items	$ 245,154
Momentum Independent Network
Net Capital
Net capital	4,036
Less: required net capital	287
Excess net capital	3,749
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 50,700	$ 67,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Jul. 20, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jan. 31, 2023
Stockholders' Equity
Cash dividends declared per common share	$ 0.16	$ 0.16	$ 0.15	$ 0.32	$ 0.30
Cash dividends paid				$ 20,800	$ 23,800
Repurchase common stock authorized amount						$ 75,000
Payments to repurchase shares				$ 4,503	$ 442,336
Repurchase of common stock (in shares)				144,403
Average price (per share)				$ 31.15

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Bank And PrimeLending [Member] \| Other Liabilities
Derivative financial instruments
Cash collateral advanced to offset net derivative assets	$ 76,400		$ 76,400		$ 65,000
Not Designated as Hedging Instrument \| Prime Lending
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	1,888	$ (35,303)	6,785	$ (13,251)
Not Designated as Hedging Instrument \| Hilltop Broker-Dealers
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	3,950	10,906	(17,230)	9,579
Not Designated as Hedging Instrument \| Plains Capital Bank
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	(4)	$ 17	(17)	$ 46
Not Designated as Hedging Instrument \| PrimeLending and Hilltop Broker-Dealers \| Other Assets
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	12,900		12,900		10,600
Interest Rate Lock Commitments \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	709,174		709,174		506,278
Estimated Fair Value	5,109		5,109		1,767
Commitments to Purchase MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,627,284		1,627,284		819,681
Estimated Fair Value	(7,982)		(7,982)		2,435
Commitments to Sell MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	2,930,771		2,930,771		2,188,964
Estimated Fair Value	11,259		11,259		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	45,000		45,000		8,400
Interest rate swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	37,750		37,750		35,784
Estimated Fair Value	173		173		(1,421)
Interest rate swaps \| Designated as hedges
Derivative financial instruments
Available for sale securities and loans held for investment	284,100		284,100		322,500
Interest rate swaps \| Cash Flow Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	410,000		410,000		430,000
Estimated Fair Value	21,845		21,845		21,703
Interest rate swaps \| Fair Value Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	325,323		325,323		365,323
Estimated Fair Value	41,192		41,192		42,828
Cumulative adjustment in available for sale securities and loans held for investment	41,200		41,200		42,800
Interest rate and other futures \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	245,200		245,200		2,612,000
U.S. Treasury bond futures and options \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	360,900		360,900		395,500
Estimated Fair Value	(1,723)		(1,723)		(449)
Credit default swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,000		1,000		3,000
Estimated Fair Value	$ (8)		$ (8)		$ (2)

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 143,982	$ 118,070
Total
Gross Amounts of Recognized Assets	1,545,303	1,212,123
Gross Amounts Offset in the Balance Sheet	(203)	(3,916)
Net Amounts of Assets Presented in the Balance Sheet	1,545,100	1,208,207
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,427,647)	(1,089,776)
Cash Collateral Pledged	(76,380)	(64,630)
Net Amount	41,073	53,801
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,326,418	1,012,573
Net Amounts of Assets Presented in the Balance Sheet	1,326,418	1,012,573
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,282,256)	(964,517)
Net Amount	44,162	48,056
Interest rate swaps \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	63,210	64,729
Net Amounts of Assets Presented in the Balance Sheet	63,210	64,729
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(173)
Cash Collateral Pledged	(65,920)	(64,630)
Net Amount	(2,883)	99
Reverse repurchase agreements \| Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	143,982	118,070
Net Amounts of Assets Presented in the Balance Sheet	143,982	118,070
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(141,773)	(115,302)
Net Amount	2,209	2,768
Forward MBS Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	11,693	16,694
Gross Amounts Offset in the Balance Sheet	(203)	(3,410)
Net Amounts of Assets Presented in the Balance Sheet	11,490	13,284
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(3,445)	(9,957)
Cash Collateral Pledged	(10,460)
Net Amount	$ (2,415)	3,327
Treasury Futures And Option Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets		57
Gross Amounts Offset in the Balance Sheet		(506)
Net Amounts of Assets Presented in the Balance Sheet		(449)
Gross Amounts Not Offset in the Balance Sheet
Net Amount		$ (449)

Balance Sheet Offsetting - Liab

Balance Sheet Offsetting - Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Total
Gross Amounts of Recognized Liabilities	$ 1,640,858	$ 1,215,307
Gross Amounts Offset in the Balance Sheet	(9)
Net Amounts of Liabilities Presented in the Balance Sheet	1,640,849	1,215,307
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,596,458)	(1,192,512)
Cash Collateral Pledged	(5,988)
Net Amount	38,403	22,795
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,229,368	916,570
Net Amounts of Liabilities Presented in the Balance Sheets	1,229,368	916,570
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,186,700)	(871,037)
Net Amount	42,668	45,533
Institutional Counterparties \| Interest rate swaps
Derivatives:
Gross Amounts of Recognized Liabilities		1,619
Net Amounts of Liabilities Presented in the Balance Sheet		1,619
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(1,438)
Net Amount		181
Institutional Counterparties \| Credit default swaps
Derivatives:
Gross Amounts of Recognized Liabilities	8	2
Net Amounts of Liabilities Presented in the Balance Sheet	8	2
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(8)	(2)
Net Amount	0	0
Institutional Counterparties \| Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	401,537	296,978
Net Amounts of Liabilities Presented in the Balance Sheet	401,537	296,978
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(401,537)	(319,897)
Net Amount	0	(22,919)
Institutional Counterparties \| Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	8,213	138
Net Amounts of Liabilities Presented in the Balance Sheet	8,213	138
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(8,213)	(138)
Net Amount	0	$ 0
Institutional Counterparties \| Treasury Futures And Option Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	1,732
Gross Amounts Offset in the Balance Sheet	(9)
Net Amounts of Liabilities Presented in the Balance Sheet	1,723
Gross Amounts Not Offset in the Balance Sheet
Cash Collateral Pledged	(5,988)
Net Amount	$ (4,265)

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	6 Months Ended
	Jun. 30, 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	$ 1,630,905	$ 1,213,548
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 1,630,905	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	$ 1,521,865	1,047,186
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	4,282	2,539
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	52,729	141,461
Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	52,029	22,362
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	401,537	296,978
Assets-backed securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	292,497	130,616
Assets-backed securities \| Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	4,282	2,539
Assets-backed securities \| Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	52,729	141,461
Assets-backed securities \| Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	52,029	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	1,229,255	916,457
Equity Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,229,255	$ 916,457

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables:
Securities borrowed	$ 1,326,418	$ 1,012,573
Securities failed to deliver	29,218	11,350
Trades in process of settlement	107,585	3,476
Other	10,956	10,656
Total receivables	1,474,177	1,038,055
Payables:
Securities loaned	1,229,368	916,570
Correspondents	35,065	22,760
Securities failed to receive	35,207	20,167
Other	7,006	6,973
Total Payables	$ 1,306,646	$ 966,470

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment and Related Information (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) item segment	Jun. 30, 2022 USD ($)	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)	$ 118,266	$ 112,056	$ 239,971	$ 212,047
Provision for (reversal of) credit losses	14,836	5,336	17,167	5,451
Noninterest income	190,652	239,273	353,146	455,701
Noninterest expense	266,977	298,543	517,447	584,893
Income (loss) before income taxes	27,105	47,450	58,503	77,404
Goodwill	267,447		267,447		$ 267,447
Total assets	17,138,341		17,138,341		16,259,282
Operating Segments \| Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	100,986	101,259	205,756	193,329
Provision for (reversal of) credit losses	14,900	5,025	16,500	4,975
Noninterest income	11,189	12,467	22,379	25,237
Noninterest expense	57,436	57,331	113,563	115,761
Income (loss) before income taxes	39,839	51,370	98,072	97,830
Goodwill	247,368		247,368		247,368
Total assets	13,815,183		13,815,183		13,420,110
Operating Segments \| Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	13,201	12,578	27,064	24,096
Provision for (reversal of) credit losses	(64)	311	667	476
Noninterest income	100,040	87,651	190,675	148,341
Noninterest expense	94,853	90,817	185,198	171,464
Income (loss) before income taxes	18,452	9,101	31,874	497
Goodwill	7,008		7,008		7,008
Total assets	3,029,661		3,029,661		2,672,709
Operating Segments \| Mortgage Origination Segment
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(5,901)	(1,291)	(10,109)	(3,127)
Noninterest income	90,079	140,082	158,909	283,276
Noninterest expense	98,660	133,169	187,413	268,027
Income (loss) before income taxes	(14,482)	5,622	(38,613)	12,122
Goodwill	13,071		13,071		13,071
Total assets	1,572,087		1,572,087		1,249,284
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(3,479)	(3,190)	(6,801)	(6,580)
Noninterest income	3,081	2,080	5,786	3,846
Noninterest expense	16,301	17,561	31,814	30,354
Income (loss) before income taxes	(16,699)	(18,671)	(32,829)	(33,088)
Total assets	2,468,214		2,468,214		2,465,513
All Other and Eliminations
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	13,459	2,700	24,061	4,329
Noninterest income	(13,737)	(3,007)	(24,603)	(4,999)
Noninterest expense	(273)	(335)	(541)	(713)
Income (loss) before income taxes	(5)	$ 28	(1)	$ 43
Total assets	$ (3,746,804)		$ (3,746,804)		$ (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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic earnings per share:
Income attributable to Hilltop	$ 18,133	$ 33,260	$ 43,933	$ 55,510
Weighted average shares outstanding - basic	65,025	73,693	64,963	76,389
Basic earnings per common share (in dollars per share)	$ 0.28	$ 0.45	$ 0.68	$ 0.73
Diluted earnings per share:
Income attributable to Hilltop	$ 18,133	$ 33,260	$ 43,933	$ 55,510
Weighted average shares outstanding - basic	65,025	73,693	64,963	76,389
Effect of potentially dilutive securities (in shares)	29	145	30	180
Weighted average shares outstanding - diluted	65,054	73,838	64,993	76,569
Diluted earnings per common share (in dollars per share)	$ 0.28	$ 0.45	$ 0.68	$ 0.73

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 18,133	$ 33,260	$ 43,933	$ 55,510

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false