Hilltop (HTH) 10-Q23 Oct 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Oct. 20, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		65,169,821
Entity Central Index Key	0001265131
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 1,513,747	$ 1,579,512
Federal funds sold	3,650	650
Assets segregated for regulatory purposes	47,491	67,737
Securities purchased under agreements to resell	123,719	118,070
Securities:
Trading, at fair value	578,901	755,032
Available for sale, at fair value, net (amortized cost of $1,606,340 and $1,788,557, respectively)	1,456,238	1,658,766
Held to maturity, at amortized cost, net (fair value of $703,366 and $785,335, respectively)	825,079	875,532
Equity, at fair value	264	200
Total securities	2,860,482	3,289,530
Loans held for sale	1,058,806	982,616
Loans held for investment, net of unearned income	8,204,052	8,092,673
Allowance for credit losses	(110,822)	(95,442)
Loans held for investment, net	8,093,230	7,997,231
Broker-dealer and clearing organization receivables	1,460,352	1,038,055
Premises and equipment, net	172,097	184,950
Operating lease right-of-use assets	93,057	102,443
Mortgage servicing rights	104,951	100,825
Other assets	588,751	518,899
Goodwill	267,447	267,447
Other intangible assets, net	9,078	11,317
Total assets	16,396,858	16,259,282
Deposits:
Noninterest-bearing	3,200,247	3,968,862
Interest-bearing	7,902,850	7,346,887
Total deposits	11,103,097	11,315,749
Broker-dealer and clearing organization payables	1,368,064	966,470
Short-term borrowings	882,999	970,056
Securities sold, not yet purchased, at fair value	51,527	53,023
Notes payable	347,020	346,654
Operating lease liabilities	114,334	126,759
Other liabilities	422,955	417,042
Total liabilities	14,289,996	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; 65,169,821 and 64,684,625 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	652	647
Additional paid-in capital	1,052,867	1,046,331
Accumulated other comprehensive loss	(145,083)	(133,531)
Retained earnings	1,171,250	1,123,636
Deferred compensation employee stock trust, net	340	481
Employee stock trust (15,711 and 22,566 shares, at cost, at September 30, 2023 and December 31, 2022, respectively)	(446)	(640)
Total Hilltop stockholders' equity	2,079,580	2,036,924
Noncontrolling interests	27,282	26,605
Total stockholders' equity	2,106,862	2,063,529
Total liabilities and stockholders' equity	$ 16,396,858	$ 16,259,282

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost	$ 1,606,340	$ 1,788,557
Held to maturity, Fair Value	$ 703,366	$ 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	65,169,821	64,684,625
Common stock, shares outstanding	65,169,821	64,684,625
Employee stock trust, shares	15,711	22,566

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income:
Loans, including fees	$ 142,402	$ 109,165	$ 404,179	$ 298,301
Securities borrowed	17,683	10,938	53,265	30,252
Securities:
Taxable	27,166	19,642	79,487	52,512
Tax-exempt	2,464	2,451	8,218	7,011
Other	27,040	14,276	76,459	23,066
Total interest income	216,755	156,472	621,608	411,142
Interest expense:
Deposits	64,290	12,525	154,840	22,174
Securities loaned	16,169	9,407	47,928	25,390
Short-term borrowings	14,212	5,550	44,361	10,615
Notes payable	4,026	3,907	11,852	12,154
Other	2,408	1,597	7,005	5,276
Total interest expense	101,105	32,986	265,986	75,609
Net interest income	115,650	123,486	355,622	335,533
Provision for (reversal of) credit losses	(40)	(780)	17,127	4,671
Net interest income after provision for (reversal of) credit losses	115,690	124,266	338,495	330,862
Noninterest income:
Net gains from sale of loans and other mortgage production income	47,262	57,998	135,763	266,435
Mortgage loan origination fees	41,478	39,960	111,695	114,400
Securities commissions and fees	28,044	34,076	88,873	105,979
Investment and securities advisory fees and commissions	39,662	35,031	98,546	96,738
Other	40,403	39,910	115,117	79,124
Total noninterest income	196,849	206,975	549,994	662,676
Noninterest expense:
Employees' compensation and benefits	173,195	200,450	517,920	605,796
Occupancy and equipment, net	21,912	25,041	67,802	74,038
Professional services	12,639	10,631	35,930	36,939
Other	52,271	52,616	155,812	156,858
Total noninterest expense	260,017	288,738	777,464	873,631
Income before income taxes	52,522	42,503	111,025	119,907
Income tax expense	13,211	9,249	24,008	27,191
Net income	39,311	33,254	87,017	92,716
Less: Net income attributable to noncontrolling interest	2,269	1,186	6,042	5,138
Income attributable to Hilltop	$ 37,042	$ 32,068	$ 80,975	$ 87,578
Basic:
Basic (in dollars per share)	$ 0.57	$ 0.50	$ 1.25	$ 1.21
Diluted:
Diluted (in dollars per share)	$ 0.57	$ 0.50	$ 1.25	$ 1.21
Weighted average share information:
Basic (in shares)	65,106	64,552	65,011	72,400
Diluted (in shares)	65,108	64,669	65,014	72,557

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 39,311	$ 33,254	$ 87,017	$ 92,716
Other comprehensive income (loss):
Change in fair value of cash flow hedges, net taxes of $(91), $2,188, $(87) and $5,099, respectively	(306)	21,749	(169)	58,158
Net unrealized gains (losses) on securities available-for-sale, net taxes of $(4,349), $(14,506), $(4,497) and $(34,747), respectively	(14,585)	(48,361)	(15,819)	(115,679)
Reclassification adjustment for gains (losses) included in net income, net taxes of $0, $0, $1 and $3, respectively	(2)		4	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 $459, $609, $1,332 and $1,369, respectively	1,528	2,027	4,432	4,556
Comprehensive income (loss)	25,946	8,669	75,465	(16,929)
Less: comprehensive income attributable to noncontrolling interest	2,269	1,186	6,042	5,138
Comprehensive income (loss) applicable to Hilltop	$ 23,677	$ 7,483	$ 69,423	$ (22,067)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Cash flow hedge, tax	$ (91)	$ 2,188	$ (87)	$ 5,099
Net unrealized gains (losses) on securities available for sale, tax	(4,349)	(14,506)	(4,497)	(34,747)
Reclassification adjustment, tax	0	0	1	3
Adjustment for unrealized losses on securities	0	0	0	(17,033)
Amortization of unrealized losses on securities	$ 459	$ 609	$ 1,332	$ 1,369

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	87,578				87,578			5,138	92,716
Other comprehensive loss	(109,645)			(109,645)					(109,645)
Stock-based compensation expense	11,553		11,553						11,553
Common stock issued to board members	451		451						451
Common stock issued to board members (in shares)		17,000
Issuance of common stock related to share-based awards, net	(4,202)	$ 4	(4,206)						(4,202)
Issuance of common stock related to share-based awards, net (in shares)		478,000
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	(33,457)				(33,457)				(33,457)
Deferred compensation plan	(799)					(273)	$ (526)		(799)
Deferred compensation plan (in shares)							17,000
Net cash distributed to noncontrolling interest								(4,601)	(4,601)
Balance at Sep. 30, 2022	2,031,811	$ 646	1,043,605	(119,864)	1,107,586	479	$ (641)	27,072	2,058,883
Balance (in shares) at Sep. 30, 2022		64,591,000					23,000
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
Increase (Decrease) in Stockholders' Equity
Net income	32,068				32,068			1,186	33,254
Other comprehensive loss	(24,585)			(24,585)					(24,585)
Stock-based compensation expense	4,334		4,334						4,334
Common stock issued to board members	146		146						146
Common stock issued to board members (in shares)		6,000
Issuance of common stock related to share-based awards, net	(136)		(136)						(136)
Issuance of common stock related to share-based awards, net (in shares)		9,000
Dividends on common stock	(9,690)				(9,690)				(9,690)
Deferred compensation plan	97					(216)	$ 313		97
Deferred compensation plan (in shares)							(11,000)
Net cash distributed to noncontrolling interest								(1,940)	(1,940)
Balance at Sep. 30, 2022	2,031,811	$ 646	1,043,605	(119,864)	1,107,586	479	$ (641)	27,072	2,058,883
Balance (in shares) at Sep. 30, 2022		64,591,000					23,000
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	80,975				80,975			6,042	87,017
Other comprehensive loss	(11,552)			(11,552)					(11,552)
Stock-based compensation expense	12,967		12,967						12,967
Common stock issued to board members	428		428						428
Common stock issued to board members (in shares)		14,000
Issuance of common stock related to share-based awards, net	(4,535)	$ 7	(4,542)						(4,535)
Issuance of common stock related to share-based awards, net (in shares)		616,000
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	(31,177)				(31,177)				$ (31,177)
Deferred compensation plan	53					(141)	$ 194		53
Deferred compensation plan (in shares)							(7,000)
Net cash distributed to noncontrolling interest								(5,365)	(5,365)
Balance at Sep. 30, 2023	2,079,580	$ 652	1,052,867	(145,083)	1,171,250	340	$ (446)	27,282	2,106,862
Balance (in shares) at Sep. 30, 2023		65,170,000					16,000
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
Increase (Decrease) in Stockholders' Equity
Net income	37,042				37,042			2,269	39,311
Other comprehensive loss	(13,365)			(13,365)					(13,365)
Stock-based compensation expense	2,936		2,936						2,936
Common stock issued to board members	128		128						128
Common stock issued to board members (in shares)		4,000
Issuance of common stock related to share-based awards, net	(387)	$ 1	(388)						(387)
Issuance of common stock related to share-based awards, net (in shares)		95,000
Dividends on common stock	(10,416)				(10,416)				(10,416)
Deferred compensation plan	43					(110)	$ 153		43
Deferred compensation plan (in shares)							(5,000)
Net cash distributed to noncontrolling interest								(1,642)	(1,642)
Balance at Sep. 30, 2023	$ 2,079,580	$ 652	$ 1,052,867	$ (145,083)	$ 1,171,250	$ 340	$ (446)	$ 27,282	$ 2,106,862
Balance (in shares) at Sep. 30, 2023		65,170,000					16,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares		3 Months Ended		9 Months Ended
	Oct. 19, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share	$ 0.16	$ 0.16	$ 0.15	$ 0.48	$ 0.45

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities
Net income	$ 87,017	$ 92,716
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	17,127	4,671
Depreciation, amortization and accretion, net	15,267	20,207
Deferred income taxes	5,268	2,258
Other, net	12,531	11,814
Net change in securities purchased under agreements to resell	(5,649)	(27,103)
Net change in trading securities	176,131	6,134
Net change in broker-dealer and clearing organization receivables	(348,318)	748,584
Net change in other assets	(40,165)	(52,021)
Net change in broker-dealer and clearing organization payables	360,433	(470,426)
Net change in other liabilities	(13,295)	66,479
Net change in securities sold, not yet purchased	(1,496)	2,929
Proceeds from sale of mortgage servicing rights asset	19,055	1,876
Change in valuation of mortgage servicing rights asset	678	(23,575)
Net gains from sales of loans	(135,763)	(266,435)
Loans originated for sale	(7,297,473)	(11,706,056)
Proceeds from loans sold	7,328,562	12,823,759
Net cash provided by operating activities	179,910	1,235,811
Investing Activities
Proceeds from maturities and principal reductions of securities held to maturity	55,006	78,144
Proceeds from sales, maturities and principal reductions of securities available for sale	204,903	259,774
Purchases of securities held to maturity		(11,432)
Purchases of securities available for sale	(31,567)	(625,522)
Purchases of equity securities		(30)
Net change in loans held for investment	(184,341)	(391,040)
Purchases of premises and equipment and other assets	(6,090)	(7,335)
Proceeds from sales of premises and equipment and other real estate owned	3,431	1,808
Net cash received from (paid to) Federal Home Loan Bank and Federal Reserve Bank stock	689	(175)
Net cash provided by (used in) investing activities	42,031	(695,808)
Financing Activities
Net change in deposits	(171,491)	(1,296,781)
Net change in short-term borrowings	(87,251)	82,178
Proceeds from notes payable	490,151	638,498
Payments on notes payable	(490,151)	(636,394)
Payments to repurchase common stock	(4,503)	(442,336)
Dividends paid on common stock	(31,177)	(33,457)
Net cash distributed to noncontrolling interest	(5,365)	(4,601)
Other, net	(5,165)	(4,768)
Net cash used in financing activities	(304,952)	(1,697,661)
Net change in cash, cash equivalents and restricted cash	(83,011)	(1,157,658)
Cash, cash equivalents and restricted cash, beginning of period	1,647,899	3,045,263
Cash, cash equivalents and restricted cash, end of period	1,564,888	1,887,605
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	252,409	69,681
Cash paid for income taxes, net of refunds	14,076	14,956
Supplemental Schedule of Non-Cash Activities
Conversion of loans to other real estate owned	5,168	326
Additions to mortgage servicing rights	$ 23,859	$ 47,850

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets
Cash and due from banks	$ 1,513,747	$ 1,579,512	$ 1,777,584
Federal funds sold	3,650	650	663
Assets segregated for regulatory purposes	47,491	67,737	109,358
Total cash, cash equivalents and restricted cash	$ 1,564,888	$ 1,647,899	$ 1,887,605	$ 3,045,263

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	9 Months Ended
Summary of Significant Accounting and Reporting Policies	Sep. 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”). 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	9 Months Ended
Recently Issued Accounting Standards	Sep. 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. 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, with early adoption permitted. The Company elected to early adopt the provisions of ASU 2023-01 as of January 1, 2023 on a prospective basis for new and existing leasehold improvements. 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 August 2023, the FASB issued ASU 2023-05 to require joint ventures to initially measure all contributions received upon its formation at fair value. The guidance is applicable to joint venture entities with a formation date on or after January 1, 2025. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated statements. In October 2023, the FASB issued ASU 2023-06 to clarify or improve disclosure and presentation requirements of a variety of topics, which will allow users to more easily compare entities subject to the SEC's existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the FASB accounting standard codification with the SEC's regulations. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 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 September 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 $933.5 million and $855.7 million, respectively, and the unpaid principal balance of those loans was $933.6 million and $850.3 million, respectively. The interest component of fair value is reported as interest income on loans in the accompanying consolidated statements of operations. The Company holds a number of financial instruments that are measured at fair value on a recurring basis, either by the application of the Fair Value Option or other authoritative pronouncements. The fair values of those instruments are determined primarily using Level 2 inputs, as further described below. Those inputs include quotes from mortgage loan investors and derivatives dealers and data from independent pricing services. The fair value of loans held for sale is determined using an exit price method. The following tables present information regarding financial assets and liabilities measured at fair value on a recurring basis (in thousands). Level 1 Level 2 Level 3 Total September 30, 2023 Inputs Inputs Inputs Fair Value Trading securities $ 10,636 $ 568,265 $ — $ 578,901 Available for sale securities — 1,444,238 12,000 1,456,238 Equity securities 264 — — 264 Loans held for sale — 897,285 36,198 933,483 Loans held for investment — — 9,999 9,999 Derivative assets — 117,072 — 117,072 MSR asset — — 104,951 104,951 Securities sold, not yet purchased 28,975 22,552 — 51,527 Derivative liabilities — 28,446 — 28,446 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 September 30, 2023 Available for sale securities $ — $ 11,696 $ — $ — $ 304 $ — $ 12,000 Loans held for sale 41,292 17,219 (9,171) — (13,142) — 36,198 Loans held for investment 9,714 — — — 285 — 9,999 MSR asset 95,101 3,759 — — 6,091 — 104,951 Total $ 146,107 $ 32,674 $ (9,171) $ — $ (6,462) $ — $ 163,148 Nine months ended September 30, 2023 Available for sale securities $ — $ 11,696 $ — $ — $ 304 $ — $ 12,000 Loans held for sale 40,707 54,727 (39,900) (446) (18,890) — 36,198 Loans held for investment 9,181 — — — 818 — 9,999 MSR asset 100,825 23,859 (19,055) — (678) — 104,951 Total $ 150,713 $ 90,282 $ (58,955) $ (446) $ (18,446) $ — $ 163,148 Three months ended September 30, 2022 Loans held for sale $ 41,732 $ 18,012 $ (19,594) $ (251) $ (2,485) $ — $ 37,414 Loans held for investment 9,027 — — — (115) — 8,912 MSR asset 121,688 29,340 — — 5,511 — 156,539 Total $ 172,447 $ 47,352 $ (19,594) $ (251) $ 2,911 $ — $ 202,865 Nine months ended September 30, 2022 Loans held for sale $ 47,716 $ 38,454 $ (44,342) $ 5,587 $ (10,001) $ — $ 37,414 Loans held for investment — 9,611 (562) — (137) — 8,912 MSR asset 86,990 47,850 (1,876) — 23,575 — 156,539 Total $ 134,706 $ 95,915 $ (46,780) $ 5,587 $ 13,437 $ — $ 202,865 All net realized and unrealized gains (losses) in the tables above are reflected in the accompanying consolidated financial statements. The unrealized gains (losses) relate to financial instruments still held at September 30, 2023. For material Level 3 financial instruments measured at fair value on a recurring basis at September 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 September 30, 2023 December 31, 2022 Available for sale securities Discounted cash flow Discount rate 15.00 % — Loans held for sale Market comparable Projected price 78 - 89 % ( 87 %) 88 - 95 % ( 89 %) Loans held for investment Discounted cash flow Discount rate 11.50 % 11.88 % MSR asset Discounted cash flow Constant prepayment rate 7.30 % 8.14 % Discount rate 11.70 % 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 available for sale securities and loans held for investment by the Company’s merchant bank subsidiary are measured using the income approach with Level 3 inputs. The fair value of such financial instruments are 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 September 30, 2023 Three Months Ended September 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 $ (3,330) $ — $ (3,330) $ (37,526) $ — $ (37,526) Loans held for investment — — — (377) — (377) MSR asset 6,091 — 6,091 5,511 — 5,511 Nine Months Ended September 30, 2023 Nine Months Ended September 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 $ (5,563) $ — $ (5,563) $ (73,520) $ — $ (73,520) Loans held for investment — — — (660) — (660) MSR asset (678) — (678) 23,575 — 23,575 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 September 30, 2023 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,517,397 $ 1,517,397 $ — $ — $ 1,517,397 Assets segregated for regulatory purposes 47,491 47,491 — — 47,491 Securities purchased under agreements to resell 123,719 — 123,719 — 123,719 Held to maturity securities 825,079 — 703,366 — 703,366 Loans held for sale 125,324 — 99,479 26,361 125,840 Loans held for investment, net 8,083,231 — 357,244 7,661,201 8,018,445 Broker-dealer and clearing organization receivables 1,460,352 — 1,460,352 — 1,460,352 Other assets 79,704 — 78,059 1,645 79,704 Financial liabilities: Deposits 11,103,097 — 11,086,261 — 11,086,261 Broker-dealer and clearing organization payables 1,368,064 — 1,368,064 — 1,368,064 Short-term borrowings 882,999 — 882,999 — 882,999 Debt 347,020 — 324,346 — 324,346 Other liabilities 18,793 — 18,793 — 18,793 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 $55.0 million and $57.6 million at September 30, 2023 and December 31, 2022, respectively, which are included within other assets in the consolidated balance sheets. Of the $55.0 million of such equity investments held at September 30, 2023, $23.2 million do not have readily determinable fair values and each is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The following table presents the adjustments to the carrying value of these investments during the periods presented (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 22,654 $ 28,183 $ 27,264 $ 16,817 Additional investments 374 — 374 11,000 Upward adjustments 186 234 611 679 Impairments and downward adjustments (21) (1,013) (5,056) (1,092) Balance, end of period $ 23,193 $ 27,404 $ 23,193 $ 27,404

Securities

Securities	9 Months Ended
Securities	Sep. 30, 2023
Securities
Securities	4. Securities The fair value of trading securities is summarized as follows (in thousands). September 30, December 31, 2023 2022 U.S. Treasury securities $ 5,488 $ 10,466 U.S. government agencies: Bonds 26,776 20,878 Residential mortgage-backed securities 93,285 214,100 Collateralized mortgage obligations 159,171 182,717 Other 13,423 — Corporate debt securities 57,707 42,685 States and political subdivisions 183,755 260,271 Private-label securitized product 29,020 9,265 Other 10,276 14,650 Totals $ 578,901 $ 755,032 In addition to the securities shown above, the Hilltop Broker-Dealers enter into transactions that represent commitments to purchase and deliver securities at prevailing future market prices to facilitate customer transactions and satisfy such commitments. Accordingly, the Hilltop Broker-Dealers’ ultimate obligations may exceed the amount recognized in the financial statements. These securities, which are carried at fair value and reported as securities sold, not yet purchased in the consolidated balance sheets, had a value of $51.5 million and $53.0 million at September 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 September 30, 2023 Cost Gains Losses Fair Value U.S. Treasury securities $ 4,984 $ — $ (493) $ 4,491 U.S. government agencies: Bonds 166,637 163 (1,421) 165,379 Residential mortgage-backed securities 404,042 2 (56,194) 347,850 Commercial mortgage-backed securities 177,618 — (9,598) 168,020 Collateralized mortgage obligations 804,096 6 (77,667) 726,435 Corporate debt securities 12,000 — — 12,000 States and political subdivisions 36,963 1 (4,901) 32,063 Totals $ 1,606,340 $ 172 $ (150,274) $ 1,456,238 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 September 30, 2023 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 283,620 $ — $ (42,001) $ 241,619 Commercial mortgage-backed securities 173,191 — (18,997) 154,194 Collateralized mortgage obligations 290,843 — (49,016) 241,827 States and political subdivisions 77,425 — (11,699) 65,726 Totals $ 825,079 $ — $ (121,713) $ 703,366 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 September 30, 2023 and December 31, 2022, respectively, from equity securities with fair values of $0.3 million and $0.2 million held at September 30, 2023 and December 31, 2022, respectively. The Company recognized nominal net gains during the three months ended September 30, 2023 and 2022, respectively, and recognized net gains of $0.1 million and net losses of $0.1 million during the nine months ended September 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 nine months ended September 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). September 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 4,491 493 1 4,465 514 1 4,491 493 1 4,465 514 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 17 109,390 951 15 98,246 388 Unrealized loss for twelve months or longer 9 46,161 470 3 15,263 512 26 155,551 1,421 18 113,509 900 Residential mortgage-backed securities: Unrealized loss for less than twelve months 2 761 33 95 168,351 10,036 Unrealized loss for twelve months or longer 124 346,191 56,161 30 236,739 38,739 126 346,952 56,194 125 405,090 48,775 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 3 14,456 858 11 79,337 2,047 Unrealized loss for twelve months or longer 18 184,326 8,740 8 86,923 5,785 21 198,782 9,598 19 166,260 7,832 Collateralized mortgage obligations: Unrealized loss for less than twelve months 4 30,975 338 97 563,872 30,980 Unrealized loss for twelve months or longer 137 704,787 77,329 48 244,917 37,647 141 735,762 77,667 145 808,789 68,627 States and political subdivisions: Unrealized loss for less than twelve months 19 11,099 398 34 20,555 964 Unrealized loss for twelve months or longer 50 18,988 4,503 29 7,892 2,639 69 30,087 4,901 63 28,447 3,603 Total available for sale: Unrealized loss for less than twelve months 45 166,681 2,578 252 930,361 44,415 Unrealized loss for twelve months or longer 339 1,304,944 147,696 119 596,199 85,836 384 $ 1,471,625 $ 150,274 371 $ 1,526,560 $ 130,251 September 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 45 241,618 42,001 31 212,768 23,799 45 241,618 42,001 45 271,857 29,727 Commercial mortgage-backed securities: Unrealized loss for less than twelve months — — — 30 163,172 14,483 Unrealized loss for twelve months or longer 30 154,194 18,997 1 2,834 452 30 154,194 18,997 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 54 241,827 49,016 38 242,527 35,118 54 241,827 49,016 56 276,363 38,343 States and political subdivisions: Unrealized loss for less than twelve months 52 24,904 2,192 150 59,459 5,362 Unrealized loss for twelve months or longer 129 40,821 9,507 27 8,093 1,856 181 65,725 11,699 177 67,552 7,218 Total held to maturity: Unrealized loss for less than twelve months 52 24,904 2,192 212 315,556 28,998 Unrealized loss for twelve months or longer 258 678,460 119,521 97 466,222 61,225 310 $ 703,364 $ 121,713 309 $ 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 September 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 $ 11,653 $ 11,469 $ 310 $ 309 Due after one year through five years 84,392 82,835 2,730 2,505 Due after five years through ten years 59,722 58,814 35,679 31,128 Due after ten years 64,817 60,815 38,706 31,784 220,584 213,933 77,425 65,726 Residential mortgage-backed securities 404,042 347,850 283,620 241,619 Commercial mortgage-backed securities 177,618 168,020 173,191 154,194 Collateralized mortgage obligations 804,096 726,435 290,843 241,827 $ 1,606,340 $ 1,456,238 $ 825,079 $ 703,366 The Company recognized net gains of $4.9 million and net losses of $3.2 million from its trading portfolio during the three months ended September 30, 2023 and 2022, respectively, and net gains of $24.6 million and net losses of $7.9 million during the nine months ended September 30, 2023 and 2022, respectively. In addition, the Hilltop Broker-Dealers realized net gains from structured product trading activities of $7.6 million and $16.6 million during the three months ended September 30, 2023 and 2022, respectively, and net gains from structured product trading activities of $51.5 million and $25.6 million during the nine months ended September 30, 2023 and 2022, respectively. The Company had nominal other realized gains and losses on securities during the three and nine months ended September 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 $492.7 million and $778.6 million (with a fair value of $439.8 million and $717.6 million, respectively) at September 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 September 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	9 Months Ended
Loans Held for Investment	Sep. 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). September 30, December 31, 2023 2022 Commercial real estate $ 3,285,899 $ 3,245,873 Commercial and industrial 1,662,737 1,639,980 Construction and land development 1,088,701 980,896 1-4 family residential 1,783,259 1,767,099 Consumer 26,212 27,602 Broker-dealer (1) 357,244 431,223 8,204,052 8,092,673 Allowance for credit losses (110,822) (95,442) Total loans held for investment, net of allowance $ 8,093,230 $ 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 September 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 $ 957 $ — $ — $ 957 $ 1,877,206 $ 1,878,163 $ — Owner occupied 1,072 3,893 12 4,977 1,402,759 1,407,736 — Commercial and industrial 2,032 193 3,613 5,838 1,656,899 1,662,737 — Construction and land development 4,941 1 — 4,942 1,083,759 1,088,701 — 1-4 family residential 4,269 1,804 2,706 8,779 1,774,480 1,783,259 — Consumer 41 9 8 58 26,154 26,212 — Broker-dealer — — — — 357,244 357,244 — $ 13,312 $ 5,900 $ 6,339 $ 25,551 $ 8,178,501 $ 8,204,052 $ — 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 $106.3 million and $92.0 million of loans included in loans held for sale (with an aggregate unpaid principal balance of $106.6 million and $92.4 million, respectively) that were 90 days past due and accruing interest at September 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 September 30, 2023 December 31, 2022 Interest Income Recognized With With No With With No Three Months Ended September 30, Nine Months Ended September 30, Allowance Allowance Total Allowance Allowance Total 2023 2022 2023 2022 Commercial real estate: Non-owner occupied $ 432 $ 1,943 $ 2,375 $ 688 $ 562 $ 1,250 $ 83 $ 265 $ 264 $ 422 Owner occupied 4,649 315 4,964 2,862 157 3,019 141 88 465 505 Commercial and industrial 714 9,476 10,190 3,727 5,368 9,095 1,564 303 1,833 930 Construction and land development 562 — 562 1 — 1 9 7 45 22 1-4 family residential 560 8,911 9,471 433 10,862 11,295 432 561 1,267 2,286 Consumer 7 — 7 14 — 14 — — — — Broker-dealer — — — — — — — — — — $ 6,924 $ 20,645 $ 27,569 $ 7,725 $ 16,949 $ 24,674 $ 2,229 $ 1,224 $ 3,874 $ 4,165 At September 30, 2023 and December 31, 2022, $3.9 million and $4.8 million, respectively, of real estate loans secured by residential properties and classified as held for sale were in non-accrual status. As shown in the table above, loans accounted for on a non-accrual basis increased from December 31, 2022 to September 30, 2023 by $2.9 million. The change in non-accrual loans was primarily due to increases in commercial real estate owner occupied loans of $1.9 million, commercial real estate non-owner occupied loans of $1.1 million and commercial and industrial loans of $1.1 million, partially offset by a decrease in 1-4 family residential loans of $1.8 million. The increase in commercial real estate owner occupied loans in non-accrual status was primarily due to the addition of a single relationship with an aggregate loan balance of $3.9 million since December 31, 2022, partially offset by the foreclosure of one office property in Texas. The increase in commercial real estate non-owner occupied loans in non-accrual status was primarily due to the addition of a single relationship with an aggregate loan balance of $1.4 million since December 31, 2022, partially offset by principal payoffs. The increase in commercial and industrial loans was primarily due to the addition of four relationships with an aggregate loan balance of $7.5 million to non-accrual status since December 31, 2022, partially offset by principal payoffs. The decrease in 1-4 family residential loans in non-accrual status since December 31, 2022 was primarily due to principal payoffs and foreclosures. 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 during the periods presented (in thousands). Total Modifications as a Interest Rate Term Principal Payment % of Portfolio Three Months Ended September 30, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 382 $ — $ — — % Owner occupied — 12 — — — % Commercial and industrial — 11,440 — — 0.7 % Construction and land development — — — — — % 1-4 family residential — — — — — % Consumer — — — — — % Broker-dealer — — — — — % Total $ — $ 11,834 $ — $ — 0.1 % Total Modifications as a Interest Rate Term Principal Payment % of Portfolio Nine Months Ended September 30, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 34,784 $ — $ — 1.9 % Owner occupied — 2,205 — — 0.2 % Commercial and industrial — 15,057 — 2,868 1.1 % Construction and land development — 286 — — — % 1-4 family residential — — — — — % Consumer — — — — — % Broker-dealer — — — — — % Total $ — $ 52,332 $ — $ 2,868 0.7 % The following table presents the financial effects of the loans held for investment modified for borrowers experiencing financial difficulty during the periods presented (in thousands). Weighted-Average Term Extension (in months) Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 Commercial real estate: Non-owner occupied 12 26 Owner occupied 24 35 Commercial and industrial 11 11 Construction and land development — 9 1-4 family residential — — Consumer — — Broker-dealer — — Total 11 22 There were no loans that have been modified during the nine months ended September 30, 2023 for which a payment was at least 30 days past due. Troubled Debt Restructurings There were no TDRs granted during the three months ended September 30, 2022. There were three TDRs granted during the nine months ended September 30, 2022 with an aggregate balance at date of extension of $3.6 million and an aggregate balance at September 30, 2022 of $2.9 million. The Bank had no unadvanced commitments to borrowers whose loans had been restructured in TDRs at September 30, 2022. There were no TDRs granted during the twelve months preceding September 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 September 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) $ 3,163 $ 31,616 $ 32,778 $ 17,913 $ 7,735 $ 5,594 $ (26) $ 189 $ 98,962 Internal Grade 4-7 (Pass normal risk) 129,170 286,269 370,985 118,082 69,726 48,999 34,867 16,725 1,074,823 Internal Grade 8-11 (Pass high risk and watch) 107,113 176,060 102,960 92,100 55,752 77,102 13,320 814 625,221 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) 40,821 11,736 14,108 2,553 6,812 752 — — 76,782 Internal Grade 14 (Substandard non-accrual) 382 1,414 — — — 579 — — 2,375 Current period gross charge-offs — — — — — 34 — — 34 Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 37,769 $ 30,817 $ 105,834 $ 41,817 $ 17,690 $ 45,379 $ 2,238 $ 14,321 $ 295,865 Internal Grade 4-7 (Pass normal risk) 93,484 172,896 148,564 71,022 63,119 123,573 16,538 — 689,196 Internal Grade 8-11 (Pass high risk and watch) 47,496 79,546 72,988 89,217 19,041 66,033 5,149 1,505 380,975 Internal Grade 12 (Special mention) — — — — 1,024 — — — 1,024 Internal Grade 13 (Substandard accrual) 2,546 3,384 5,166 7,548 5,656 11,314 98 — 35,712 Internal Grade 14 (Substandard non-accrual) 12 4,053 655 — — 244 — — 4,964 Current period gross charge-offs — — — — — 977 — — 977 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 19,309 $ 30,115 $ 30,538 $ 15,463 $ 20,118 $ 1,857 $ 28,897 $ 17 $ 146,314 Internal Grade 4-7 (Pass normal risk) 58,360 80,794 135,009 25,721 4,521 10,508 279,576 21,522 616,011 Internal Grade 8-11 (Pass high risk and watch) 85,308 127,147 39,601 38,824 7,464 8,063 234,197 2,688 543,292 Internal Grade 12 (Special mention) — — 132 — — — 33,841 — 33,973 Internal Grade 13 (Substandard accrual) 4,106 1,453 4,066 3,992 3,806 370 24,681 22,691 65,165 Internal Grade 14 (Substandard non-accrual) 69 370 147 1,917 — 3,776 — 3,911 10,190 Current period gross charge-offs 276 3,041 87 — 25 586 — — 4,015 Construction and land development Internal Grade 1-3 (Pass low risk) $ 5,322 $ 15,201 $ 12,927 $ — $ 812 $ 341 $ — $ — $ 34,603 Internal Grade 4-7 (Pass normal risk) 213,083 255,710 98,331 28,393 868 1,786 27,943 — 626,114 Internal Grade 8-11 (Pass high risk and watch) 141,367 163,554 46,959 4,073 2,370 232 1,436 9,486 369,477 Internal Grade 12 (Special mention) — — 373 — — — — — 373 Internal Grade 13 (Substandard accrual) 14,613 3,788 — 11,247 — — — 2,393 32,041 Internal Grade 14 (Substandard non-accrual) 277 285 — — — — — — 562 Current period gross charge-offs — — — — — — — — — Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 2,750 867 — — — 919 — — 4,536 FICO greater than 720 17,035 3,432 121 51 — — — — 20,639 Substandard non-accrual — — — — — — — — — Other (1) 356 — — — — — — — 356 Current period gross charge-offs — — — — — — — — — 1-4 family residential FICO less than 620 $ — $ 1,457 $ 646 $ 756 $ 255 $ 23,792 $ 237 $ — $ 27,143 FICO between 620 and 720 3,333 16,876 12,627 6,739 4,837 25,693 1,714 — 71,819 FICO greater than 720 136,432 546,544 742,656 90,218 38,609 55,815 3,547 630 1,614,451 Substandard non-accrual — 534 — — — 8,937 — — 9,471 Other (1) 20,233 21,387 12,008 1,385 2,238 3,122 2 — 60,375 Current period gross charge-offs — — — — — 73 — — 73 Amortized Cost Basis by Origination Year Loans 2018 and Converted to September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Term Loans Total Consumer FICO less than 620 $ 709 $ 546 $ 47 $ 88 $ 8 $ 4 $ 352 $ 7 $ 1,761 FICO between 620 and 720 2,879 2,084 571 316 159 40 1,926 10 7,985 FICO greater than 720 2,527 3,163 1,011 726 78 2 2,416 1 9,924 Substandard non-accrual — — — — — 7 — — 7 Other (1) 3,598 2,064 336 312 64 15 146 — 6,535 Current period gross charge-offs 194 54 6 6 3 11 — — 274 Total loans with credit quality measures $ 1,193,622 $ 2,075,162 $ 1,992,144 $ 670,473 $ 332,762 $ 524,848 $ 713,095 $ 96,910 $ 7,599,016 Commercial and industrial (mortgage warehouse lending) $ 237,793 Commercial and industrial (loans accounted for at fair value) $ 9,999 Broker-dealer (margin loans and correspondent receivables) $ 357,244 Total loans held for investment $ 8,204,052 (1) Loans classified in this category were assigned a FICO score for credit modeling purposes.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
Allowance for Credit Losses	Sep. 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 September 30, 2023. In addition, as of September 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 September 30, 2023. While the Company believes it has an appropriate allowance for the existing loan portfolio at September 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 September 30, 2023, the Company utilized a single macroeconomic alternative scenario, or S7, published by Moody’s Analytics in September 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 to reflect the impact of international armed conflicts, tighter lending standards resulting from bank failures earlier in 2023, 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 5.25% to 5.50% into early 2024. Significant variables that impact the modeled losses across our loan portfolios are the U.S. Real Gross Domestic Product, or GDP, growth rates and unemployment rate assumptions. Changes in these assumptions and forecasts of economic conditions could significantly affect the estimate of expected credit losses at the balance sheet date or between reporting periods. During the three months ended September 30, 2022, the reversal of credit losses reflected modest improvements in the U.S economic outlook compared to assumptions in the prior quarter outlook, and in specific reserves and credit metrics since the prior quarter, while the increase in provision for credit losses during the nine months ended September 30, 2022 was driven by a deteriorating U.S. economic outlook since December 31, 2021. The net impact to the allowance of changes associated with individually evaluated loans during the three and nine months ended September 30, 2022 included reversals of credit losses of $0.2 million and $1.2 million, respectively, while collectively evaluated loans included a reversal of credit losses of $0.5 million, compared to a provision for credit losses of $5.9 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 nine months ended September 30, 2022 were also impacted by net charge-offs of $2.7 million and $4.2 million, respectively. During the three months ended September 30, 2023, the slight reversal of credit losses reflected improvements to the U.S. economic outlook and decreases in specific reserves of $0.7 million within our broker dealer segment, offset by increases in specific reserves and net portfolio changes within the banking segment. The increase in the provision for credit losses during the nine months ended September 30, 2023 reflected a significant build in the allowance related to loan portfolio changes since December 31, 2022 and a deteriorating outlook for commercial real estate markets. Specific to the Bank, the net impact to the allowance of changes associated with collectively evaluated loans during the three and nine months ended September 30, 2023 included a reversal of credit losses of $0.3 million, compared to a provision for credit losses of $14.2 million, respectively, on collectively evaluated loans, while the net impact to the allowance of changes associated with individually evaluated loans during the three and nine months ended September 30, 2023 included a provision for credit losses of $0.9 million and $3.0 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 nine months ended September 30, 2023 were also impacted by net recoveries of $1.6 million and net charge-offs of $1.7 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 September 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 71,462 $ (1,567) $ (34) $ 10 $ 69,871 Commercial and industrial 17,315 838 (936) 2,505 19,722 Construction and land development 7,395 1,575 — — 8,970 1-4 family residential 11,618 (179) — 33 11,472 Consumer 615 8 (152) 130 601 Broker-dealer 901 (715) — — 186 Total $ 109,306 $ (40) $ (1,122) $ 2,678 $ 110,822 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Nine Months Ended September 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,255 $ 7,586 $ (1,011) $ 41 $ 69,871 Commercial and industrial 16,035 4,417 (4,015) 3,285 19,722 Construction and land development 6,051 2,919 — — 8,970 1-4 family residential 9,313 2,147 (73) 85 11,472 Consumer 554 106 (274) 215 601 Broker-dealer 234 (48) — — 186 Total $ 95,442 $ 17,127 $ (5,373) $ 3,626 $ 110,822 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended September 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,719 $ (560) $ — $ 41 $ 63,200 Commercial and industrial 19,836 (1,002) (3,096) 370 16,108 Construction and land development 4,996 (228) — — 4,768 1-4 family residential 5,554 1,049 (14) 23 6,612 Consumer 542 91 (149) 90 574 Broker-dealer 651 (130) — — 521 Total $ 95,298 $ (780) $ (3,259) $ 524 $ 91,783 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Nine Months Ended September 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 59,354 $ 3,762 $ — $ 84 $ 63,200 Commercial and industrial 21,982 (1,681) (6,197) 2,004 16,108 Construction and land development 4,674 94 — — 4,768 1-4 family residential 4,589 2,014 (62) 71 6,612 Consumer 578 136 (361) 221 574 Broker-dealer 175 346 — — 521 Total $ 91,352 $ 4,671 $ (6,620) $ 2,380 $ 91,783 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 7,992 $ 6,931 $ 7,784 $ 5,880 Other noninterest expense 559 87 767 1,138 Balance, end of period $ 8,551 $ 7,018 $ 8,551 $ 7,018 The increase in the reserve for unfunded commitments during the nine months ended September 30, 2022 was due to increases in both loan expected loss rates and available commitment balances. During the three and nine months ended September 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	9 Months Ended
Mortgage Servicing Rights	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 95,101 $ 121,688 $ 100,825 $ 86,990 Additions 3,759 29,340 23,859 47,850 Sales — — (19,055) (1,876) Changes in fair value: Due to changes in model inputs or assumptions (1) 7,373 7,942 2,834 32,035 Due to customer payoffs (1,282) (2,431) (3,512) (8,460) Balance, end of period $ 104,951 $ 156,539 $ 104,951 $ 156,539 September 30, December 31, 2023 2022 Mortgage loans serviced for others (2) $ 5,105,947 $ 5,144,558 MSR asset as a percentage of serviced mortgage loans 2.06 % 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. September 30, December 31, 2023 2022 Weighted average constant prepayment rate 7.30 % 8.14 % Weighted average discount rate 11.70 % 12.10 % Weighted average life (in years) 9.0 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). September 30, December 31, 2023 2022 Constant prepayment rate: Impact of 10% adverse change $ (3,207) $ (3,288) Impact of 20% adverse change (6,227) (6,375) Discount rate: Impact of 10% adverse change (5,100) (4,797) Impact of 20% adverse change (9,718) (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 $8.5 million and $9.9 million during the three months ended September 30, 2023 and 2022, respectively, and $24.2 million and $27.3 million during the nine months ended September 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	9 Months Ended
Deposits	Sep. 30, 2023
Deposits
Deposits	8. Deposits Deposits are summarized as follows (in thousands). September 30, December 31, 2023 2022 Noninterest-bearing demand $ 3,200,247 $ 3,968,862 Interest-bearing: Demand accounts 4,406,393 4,110,418 Brokered - demand 308,513 5,336 Money market 1,739,708 2,045,554 Brokered - money market 7,376 9,031 Savings 264,111 312,140 Time 1,084,276 864,408 Brokered - time 92,473 — $ 11,103,097 $ 11,315,749 At September 30, 2023, remaining maturities of estimated uninsured time deposits greater than $250,000 were $432.5 million.

Short-term Borrowings

Short-term Borrowings	9 Months Ended
Short-term Borrowings	Sep. 30, 2023
Short-term Borrowings
Short-term Borrowings	9. Short-term Borrowings Short-term borrowings are summarized as follows (in thousands). September 30, December 31, 2023 2022 Federal funds purchased $ 447,858 $ 397,108 Securities sold under agreements to repurchase 226,812 297,856 Federal Home Loan Bank — — Short-term bank loans — 57,500 Commercial paper 208,329 217,592 $ 882,999 $ 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). Nine Months Ended September 30, 2023 2022 Average balance during the period $ 797,489 $ 530,180 Average interest rate during the period 5.40 % 1.36 % September 30, December 31, 2023 2022 Average interest rate at end of period 5.56 % 4.37 % Securities underlying the agreements at end of period: Carrying value $ 226,846 $ 296,075 Estimated fair value $ 243,825 $ 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). Nine Months Ended September 30, 2023 2022 Average balance during the period $ 180,861 $ — Average interest rate during the period 5.08 % — % September 30, December 31, 2023 2022 Average interest rate at end of period — % — % 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. At September 30, 2023 there were no outstanding short-term bank loans. 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 September 30, 2023, the weighted average maturity of the CP Notes was 133 days at a rate of 6.22%, with a weighted average remaining life of 65 days. At September 30, 2023, the aggregate amount outstanding under these secured arrangements was $208.3 million, which was collateralized by securities held for Hilltop Securities accounts valued at $231.7 million.

Notes Payable

Notes Payable	9 Months Ended
Notes Payable	Sep. 30, 2023
Notes Payable
Notes Payable	10. Notes Payable Notes payable consisted of the following (in thousands). September 30, December 31, 2023 2022 Senior Notes due April 2025, net of discount of $552 and $699, respectively $ 149,448 $ 149,301 Subordinated Notes due May 2030, net of discount of $536 and $610, respectively 49,464 49,390 Subordinated Notes due May 2035, net of discount of $1,892 and $2,037, respectively 148,108 147,963 $ 347,020 $ 346,654

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2023
Leases
Leases	11. Leases Supplemental balance sheet information related to finance leases is as follows (in thousands). September 30, December 31, 2023 2022 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (6,390) (5,948) Premises and equipment, net $ 1,390 $ 1,832 The components of lease costs, including short-term lease costs, are as follows (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 8,488 $ 9,121 $ 26,231 $ 28,078 Less operating lease and sublease income (655) (633) (1,965) (1,762) Net operating lease cost $ 7,833 $ 8,488 $ 24,266 $ 26,316 Finance lease cost: Amortization of ROU assets $ 147 $ 147 $ 442 $ 442 Interest on lease liabilities 104 118 324 363 Total finance lease cost $ 251 $ 265 $ 766 $ 805 Supplemental cash flow information related to leases is as follows (in thousands). Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 27,899 $ 27,387 Operating cash flows from finance leases 326 366 Financing cash flows from finance leases 628 563 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 11,396 $ 12,336 Finance leases — — Information regarding the lease terms and discount rates of the Company’s leases is as follows. September 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 5.4 4.48 % 5.7 3.89 % Finance 3.4 4.95 % 4.0 4.89 % Future minimum lease payments under lease agreements as of September 30, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 8,530 $ 325 2024 29,882 1,163 2025 23,898 886 2026 18,833 813 2027 14,987 448 Thereafter 32,115 149 Total minimum lease payments 128,245 3,784 Less amount representing interest (13,911) (1,009) Lease liabilities $ 114,334 $ 2,775 As of September 30, 2023, the Company had an additional operating lease that has not yet commenced with aggregate future minimum lease payments of approximately $2.2 million. This operating lease is expected to commence in March 2024 with a lease term of two years.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 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 25.2% and 21.8% for the three months ended September 30, 2023 and 2022, respectively, and 21.6% and 22.7% for the nine months ended September 30, 2023 and 2022, respectively. The effective tax rate during the three months ended September 30, 2023 was higher than the applicable statutory rate primarily due to the impact of non-deductible compensation expense and other permanent adjustments. During the nine months ended September 30, 2023, the effective tax rate differs from 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 booking of additional taxes from a recent change in the source of funding for an acquired non-qualified, deferred compensation plan.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 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 September 30, 2023 and December 31, 2022, the mortgage origination segment’s indemnification liability reserve totaled $13.6 million and $20.5 million, respectively. The provision for indemnification losses was $0.5 million and $0.1 million during the three months ended September 30, 2023 and 2022, respectively, and $1.3 million and $1.3 million during the nine months ended September 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 27,567 $ 28,715 $ 31,244 $ 31,407 Claims made 6,572 14,247 37,582 42,305 Claims resolved with no payment (1,633) (4,378) (11,418) (12,352) Repurchases (4,430) (11,320) (25,430) (34,096) Indemnification payments (386) — (4,288) — Balance, end of period $ 27,690 $ 27,264 $ 27,690 $ 27,264 Indemnification Liability Reserve Activity Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 15,058 $ 23,750 $ 20,528 $ 27,424 Additions for new sales 480 608 1,317 2,123 Repurchases (1,896) (1,591) (7,781) (6,367) Early payment defaults (65) (90) (295) (212) Indemnification payments (27) — (219) — Change in reserves for loans sold in prior years — (553) — (844) Balance, end of period $ 13,550 $ 22,124 $ 13,550 $ 22,124 September 30, December 31, 2023 2022 Reserve for Indemnification Liability: Specific claims $ 1,109 $ 627 Incurred but not reported claims 12,441 19,901 Total $ 13,550 $ 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	9 Months Ended
Financial Instruments with Off-Balance Sheet Risk	Sep. 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 $2.2 billion at September 30, 2023 and outstanding financial and performance standby letters of credit of $49.5 million at September 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	9 Months Ended
Stock-Based Compensation	Sep. 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 nine months ended September 30, 2023 and 2022, Hilltop granted 14,440 and 16,501 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 nine months ended September 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 (751) $ 21.93 Forfeited (16) $ 31.57 Balance, September 30, 2023 1,260 $ 34.03 Vested/Released RSUs include an aggregate of 134,731 shares withheld to satisfy employee statutory tax obligations during the nine months ended September 30, 2023. During the nine months ended September 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 nine months ended September 30, 2023, 292,262 that were outstanding at September 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 nine months ended September 30, 2023, 88,073 that were outstanding at September 30, 2023 At September 30, 2023, in the aggregate, 886,096 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 September 30, 2023

Regulatory Matters

Regulatory Matters	9 Months Ended
Regulatory Matters	Sep. 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 September 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 September 30, 2023 December 31, 2022 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,438,971 10.62 % $ 1,405,164 10.26 % 4.0 % 5.0 % Hilltop 1,954,422 11.92 % 1,900,701 11.47 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,438,971 15.31 % 1,405,164 14.98 % 7.0 % 6.5 % Hilltop 1,954,422 18.60 % 1,900,701 18.23 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,438,971 15.31 % 1,405,164 14.98 % 8.5 % 8.0 % Hilltop 1,954,422 18.60 % 1,900,701 18.23 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,546,036 16.45 % 1,492,576 15.91 % 10.5 % 10.0 % Hilltop 2,262,945 21.54 % 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 September 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 $ 233,291 $ 4,602 Less: required net capital 7,109 250 Excess net capital $ 226,182 $ 4,352 Net capital as a percentage of aggregate debit items 65.6 % Net capital in excess of 5% aggregate debit items $ 215,518 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 September 30, 2023 and December 31, 2022, the Hilltop Broker-Dealers held cash of $47.5 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 September 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 September 30, 2023, PrimeLending and its subsidiaries’ minimum capital, net worth and liquidity exceeded the amounts required by both HUD and GNMA, as applicable.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2023
Stockholders' Equity
Stockholders' Equity	17. Stockholders’ Equity Dividends During the nine months ended September 30, 2023 and 2022, the Company declared and paid cash dividends of $0.48 and $0.45 per common share, or an aggregate of $31.2 million and $33.5 million, respectively. On October 19, 2023, Hilltop’s board of directors declared a quarterly cash dividend of $0.16 per common share, payable on November 28, 2023, to all common stockholders of record as of the close of business on November 13, 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 nine months ended September 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	9 Months Ended
Derivative Financial Instruments	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Increase (decrease) in fair value of derivatives during period: PrimeLending $ (946) $ 2,276 $ 5,840 $ (10,975) Hilltop Broker-Dealers 13,214 14,240 (4,016) 23,819 Bank 92 7 76 53 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). September 30, 2023 December 31, 2022 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 621,604 $ 2,752 $ 506,278 $ 1,767 Commitments to purchase MBSs 2,283,755 (16,834) 819,681 2,435 Commitments to sell MBSs 3,074,491 31,497 2,188,964 10,711 Interest rate swaps 46,500 4,334 35,784 (1,421) Interest rate swaps back-to-back (asset) (1) 1,421 120 — — Interest rate swaps back-to-back (liability) (1) 1,421 (124) — — U.S. Treasury bond futures and options (2) 338,600 (3,883) 395,500 (449) Interest rate and other futures (2) 399,200 — 2,612,000 — Credit default swaps 4,000 2 3,000 (2) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 410,000 $ 21,447 $ 430,000 $ 21,703 Interest rate swaps designated as fair value hedges (3) 325,272 49,315 365,323 42,828 (1) Noted derivative instruments include both customer-facing derivatives as well as offsetting derivatives facing other dealer banks. The fair value of these derivatives include a net credit valuation adjustment that was nominal at September 30, 2023, reducing the fair value of the liability. (2) Noted derivative instruments include contracts between the Hilltop Broker-Dealers and counterparties with changes in fair value of the contracts that are settled daily. (3) 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 $275.8 million and $322.5 million as of September 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 $49.5 million and $42.8 million as of September 30, 2023 and December 31, 2022, respectively. The Bank and PrimeLending held cash collateral advances, in other liabilities within the consolidated balance sheets, of $86.1 million and $65.0 million to offset net asset derivative positions on its commitments to sell MBSs and derivative instruments designated as hedges at September 30, 2023 and December, 31, 2022, respectively. PrimeLending had advanced cash collateral totaling $0.1 million and $8.4 million to offset net liability positions on its commitments to sell MBSs at September 30, 2023 and December 31, 2022, respectively. In addition, PrimeLending and the Hilltop Broker-Dealers had advanced cash collateral totaling $13.4 million and $10.6 million on various derivative instruments at September 30, 2023 and December 31, 2022, respectively. The advanced cash collateral amounts are included in other assets within the consolidated balance sheets. Derivatives on Behalf of Customers The Bank offers derivative contracts to certain customers in connection with their risk management needs. These derivatives include back-to-back interest rate swaps. The Bank manages the risk associated with these contracts by entering into an equal and offsetting derivative with a third-party dealer bank. These derivatives generally work together as an economic interest rate hedge, but the Bank does not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes in fair value occurred, typically resulting in no net earnings impact.

Balance Sheet Offsetting

Balance Sheet Offsetting	9 Months Ended
Balance Sheet Offsetting	Sep. 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 September 30, 2023 Securities borrowed: Institutional counterparties $ 1,368,945 $ — $ 1,368,945 $ (1,308,458) $ — $ 60,487 Interest rate swaps: Institutional counterparties 75,216 — 75,216 (4,334) (73,650) (2,768) Credit default swaps: Institutional counterparties 2 — 2 (2) — — Reverse repurchase agreements: Institutional counterparties 123,719 — 123,719 (120,140) — 3,579 Forward MBS derivatives: Institutional counterparties 33,379 (482) 32,897 (21,280) (12,337) (720) $ 1,601,261 $ (482) $ 1,600,779 $ (1,454,214) $ (85,987) $ 60,578 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 September 30, 2023 Securities loaned: Institutional counterparties $ 1,304,884 $ — $ 1,304,884 $ (1,245,860) $ — $ 59,024 Repurchase agreements: Institutional counterparties 226,061 — 226,061 (226,061) — — Forward MBS derivatives: Institutional counterparties 18,234 — 18,234 (18,234) — — Treasury futures and options derivatives: Institutional counterparties 3,891 (8) 3,883 — (6,790) (2,907) $ 1,553,070 $ (8) $ 1,553,062 $ (1,490,155) $ (6,790) $ 56,117 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 September 30, 2023 and December 31, 2022. Remaining Contractual Maturities Overnight and Greater Than September 30, 2023 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: U.S. government agency securities $ 8,729 $ 4,494 $ — $ — $ 13,223 Asset-backed securities 93,895 62,336 8,599 48,008 212,838 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,304,771 — — — 1,304,771 Total $ 1,407,508 $ 66,830 $ 8,599 $ 48,008 $ 1,530,945 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,530,945 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	9 Months Ended
	Sep. 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). September 30, December 31, 2023 2022 Receivables: Securities borrowed $ 1,368,945 $ 1,012,573 Securities failed to deliver 12,422 11,350 Trades in process of settlement 67,270 3,476 Other 11,715 10,656 $ 1,460,352 $ 1,038,055 Payables: Securities loaned $ 1,304,884 $ 916,570 Correspondents 19,471 22,760 Securities failed to receive 36,970 20,167 Other 6,739 6,973 $ 1,368,064 $ 966,470

Segment and Related Information

Segment and Related Information	9 Months Ended
Segment and Related Information	Sep. 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 September 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 99,047 $ 12,215 $ (5,482) $ (3,175) $ 13,045 $ 115,650 Provision for (reversal of) credit losses 675 (715) — — — (40) Noninterest income 11,668 106,488 88,747 3,159 (13,213) 196,849 Noninterest expense 56,887 97,865 91,505 13,937 (177) 260,017 Income (loss) before taxes $ 53,153 $ 21,553 $ (8,240) $ (13,953) $ 9 $ 52,522 Mortgage All Other and Hilltop Nine Months Ended September 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 304,804 $ 39,279 $ (15,590) $ (9,976) $ 37,105 $ 355,622 Provision for (reversal of) credit losses 17,175 (48) — — — 17,127 Noninterest income 34,046 297,164 247,655 8,944 (37,815) 549,994 Noninterest expense 170,450 283,063 278,918 45,750 (717) 777,464 Income (loss) before taxes $ 151,225 $ 53,428 $ (46,853) $ (46,782) $ 7 $ 111,025 Mortgage All Other and Hilltop Three Months Ended September 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 110,939 $ 13,386 $ (2,939) $ (3,276) $ 5,376 $ 123,486 Provision for (reversal of) credit losses (650) (130) — — — (780) Noninterest income 12,200 100,798 98,200 1,809 (6,032) 206,975 Noninterest expense 60,160 96,843 118,345 14,034 (644) 288,738 Income (loss) before taxes $ 63,629 $ 17,471 $ (23,084) $ (15,501) $ (12) $ 42,503 Mortgage All Other and Hilltop Nine Months Ended September 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 304,269 $ 37,481 $ (6,066) $ (9,856) $ 9,705 $ 335,533 Provision for (reversal of) credit losses 4,325 346 — — — 4,671 Noninterest income 37,438 249,139 381,477 5,655 (11,033) 662,676 Noninterest expense 175,921 268,307 386,372 44,388 (1,357) 873,631 Income (loss) before taxes $ 161,461 $ 17,967 $ (10,961) $ (48,589) $ 29 $ 119,907 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Corporate Eliminations Consolidated September 30, 2023 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,323,789 $ 2,905,822 $ 1,321,313 $ 2,500,705 $ (3,654,771) $ 16,396,858 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	9 Months Ended
Earnings per Common Share	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic earnings per share: Income attributable to Hilltop $ 37,042 $ 32,068 $ 80,975 $ 87,578 Weighted average shares outstanding - basic 65,106 64,552 65,011 72,400 Basic earnings per common share: $ 0.57 $ 0.50 $ 1.25 $ 1.21 Diluted earnings per share: Income attributable to Hilltop $ 37,042 $ 32,068 $ 80,975 $ 87,578 Weighted average shares outstanding - basic 65,106 64,552 65,011 72,400 Effect of potentially dilutive securities 2 117 3 157 Weighted average shares outstanding - diluted 65,108 64,669 65,014 72,557 Diluted earnings per common share: $ 0.57 $ 0.50 $ 1.25 $ 1.21

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	9 Months Ended
	Sep. 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”). 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)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 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 September 30, 2023 Inputs Inputs Inputs Fair Value Trading securities $ 10,636 $ 568,265 $ — $ 578,901 Available for sale securities — 1,444,238 12,000 1,456,238 Equity securities 264 — — 264 Loans held for sale — 897,285 36,198 933,483 Loans held for investment — — 9,999 9,999 Derivative assets — 117,072 — 117,072 MSR asset — — 104,951 104,951 Securities sold, not yet purchased 28,975 22,552 — 51,527 Derivative liabilities — 28,446 — 28,446 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 September 30, 2023 Available for sale securities $ — $ 11,696 $ — $ — $ 304 $ — $ 12,000 Loans held for sale 41,292 17,219 (9,171) — (13,142) — 36,198 Loans held for investment 9,714 — — — 285 — 9,999 MSR asset 95,101 3,759 — — 6,091 — 104,951 Total $ 146,107 $ 32,674 $ (9,171) $ — $ (6,462) $ — $ 163,148 Nine months ended September 30, 2023 Available for sale securities $ — $ 11,696 $ — $ — $ 304 $ — $ 12,000 Loans held for sale 40,707 54,727 (39,900) (446) (18,890) — 36,198 Loans held for investment 9,181 — — — 818 — 9,999 MSR asset 100,825 23,859 (19,055) — (678) — 104,951 Total $ 150,713 $ 90,282 $ (58,955) $ (446) $ (18,446) $ — $ 163,148 Three months ended September 30, 2022 Loans held for sale $ 41,732 $ 18,012 $ (19,594) $ (251) $ (2,485) $ — $ 37,414 Loans held for investment 9,027 — — — (115) — 8,912 MSR asset 121,688 29,340 — — 5,511 — 156,539 Total $ 172,447 $ 47,352 $ (19,594) $ (251) $ 2,911 $ — $ 202,865 Nine months ended September 30, 2022 Loans held for sale $ 47,716 $ 38,454 $ (44,342) $ 5,587 $ (10,001) $ — $ 37,414 Loans held for investment — 9,611 (562) — (137) — 8,912 MSR asset 86,990 47,850 (1,876) — 23,575 — 156,539 Total $ 134,706 $ 95,915 $ (46,780) $ 5,587 $ 13,437 $ — $ 202,865
Schedule of significant unobservable inputs used in the fair value measurements	Range (Weighted-Average) Financial instrument Valuation Technique Unobservable Inputs September 30, 2023 December 31, 2022 Available for sale securities Discounted cash flow Discount rate 15.00 % — Loans held for sale Market comparable Projected price 78 - 89 % ( 87 %) 88 - 95 % ( 89 %) Loans held for investment Discounted cash flow Discount rate 11.50 % 11.88 % MSR asset Discounted cash flow Constant prepayment rate 7.30 % 8.14 % Discount rate 11.70 % 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 September 30, 2023 Three Months Ended September 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 $ (3,330) $ — $ (3,330) $ (37,526) $ — $ (37,526) Loans held for investment — — — (377) — (377) MSR asset 6,091 — 6,091 5,511 — 5,511 Nine Months Ended September 30, 2023 Nine Months Ended September 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 $ (5,563) $ — $ (5,563) $ (73,520) $ — $ (73,520) Loans held for investment — — — (660) — (660) MSR asset (678) — (678) 23,575 — 23,575
Schedule of carrying values and estimated fair values of financial instruments	The following tables present the carrying values and estimated fair values of financial instruments not measured at fair value on either a recurring or non-recurring basis (in thousands). Estimated Fair Value Carrying Level 1 Level 2 Level 3 September 30, 2023 Amount Inputs Inputs Inputs Total Financial assets: Cash and cash equivalents $ 1,517,397 $ 1,517,397 $ — $ — $ 1,517,397 Assets segregated for regulatory purposes 47,491 47,491 — — 47,491 Securities purchased under agreements to resell 123,719 — 123,719 — 123,719 Held to maturity securities 825,079 — 703,366 — 703,366 Loans held for sale 125,324 — 99,479 26,361 125,840 Loans held for investment, net 8,083,231 — 357,244 7,661,201 8,018,445 Broker-dealer and clearing organization receivables 1,460,352 — 1,460,352 — 1,460,352 Other assets 79,704 — 78,059 1,645 79,704 Financial liabilities: Deposits 11,103,097 — 11,086,261 — 11,086,261 Broker-dealer and clearing organization payables 1,368,064 — 1,368,064 — 1,368,064 Short-term borrowings 882,999 — 882,999 — 882,999 Debt 347,020 — 324,346 — 324,346 Other liabilities 18,793 — 18,793 — 18,793 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 22,654 $ 28,183 $ 27,264 $ 16,817 Additional investments 374 — 374 11,000 Upward adjustments 186 234 611 679 Impairments and downward adjustments (21) (1,013) (5,056) (1,092) Balance, end of period $ 23,193 $ 27,404 $ 23,193 $ 27,404

Securities (Tables)

Securities (Tables)	9 Months Ended
Securities (Tables)	Sep. 30, 2023
Securities
Summary of trading securities	The fair value of trading securities is summarized as follows (in thousands). September 30, December 31, 2023 2022 U.S. Treasury securities $ 5,488 $ 10,466 U.S. government agencies: Bonds 26,776 20,878 Residential mortgage-backed securities 93,285 214,100 Collateralized mortgage obligations 159,171 182,717 Other 13,423 — Corporate debt securities 57,707 42,685 States and political subdivisions 183,755 260,271 Private-label securitized product 29,020 9,265 Other 10,276 14,650 Totals $ 578,901 $ 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 September 30, 2023 Cost Gains Losses Fair Value U.S. Treasury securities $ 4,984 $ — $ (493) $ 4,491 U.S. government agencies: Bonds 166,637 163 (1,421) 165,379 Residential mortgage-backed securities 404,042 2 (56,194) 347,850 Commercial mortgage-backed securities 177,618 — (9,598) 168,020 Collateralized mortgage obligations 804,096 6 (77,667) 726,435 Corporate debt securities 12,000 — — 12,000 States and political subdivisions 36,963 1 (4,901) 32,063 Totals $ 1,606,340 $ 172 $ (150,274) $ 1,456,238 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 September 30, 2023 Cost Gains Losses Fair Value U.S. government agencies: Residential mortgage-backed securities $ 283,620 $ — $ (42,001) $ 241,619 Commercial mortgage-backed securities 173,191 — (18,997) 154,194 Collateralized mortgage obligations 290,843 — (49,016) 241,827 States and political subdivisions 77,425 — (11,699) 65,726 Totals $ 825,079 $ — $ (121,713) $ 703,366 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). September 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 4,491 493 1 4,465 514 1 4,491 493 1 4,465 514 U.S. government agencies: Bonds: Unrealized loss for less than twelve months 17 109,390 951 15 98,246 388 Unrealized loss for twelve months or longer 9 46,161 470 3 15,263 512 26 155,551 1,421 18 113,509 900 Residential mortgage-backed securities: Unrealized loss for less than twelve months 2 761 33 95 168,351 10,036 Unrealized loss for twelve months or longer 124 346,191 56,161 30 236,739 38,739 126 346,952 56,194 125 405,090 48,775 Commercial mortgage-backed securities: Unrealized loss for less than twelve months 3 14,456 858 11 79,337 2,047 Unrealized loss for twelve months or longer 18 184,326 8,740 8 86,923 5,785 21 198,782 9,598 19 166,260 7,832 Collateralized mortgage obligations: Unrealized loss for less than twelve months 4 30,975 338 97 563,872 30,980 Unrealized loss for twelve months or longer 137 704,787 77,329 48 244,917 37,647 141 735,762 77,667 145 808,789 68,627 States and political subdivisions: Unrealized loss for less than twelve months 19 11,099 398 34 20,555 964 Unrealized loss for twelve months or longer 50 18,988 4,503 29 7,892 2,639 69 30,087 4,901 63 28,447 3,603 Total available for sale: Unrealized loss for less than twelve months 45 166,681 2,578 252 930,361 44,415 Unrealized loss for twelve months or longer 339 1,304,944 147,696 119 596,199 85,836 384 $ 1,471,625 $ 150,274 371 $ 1,526,560 $ 130,251
Schedule of information regarding held to maturity securities that were in an unrealized loss position	September 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 45 241,618 42,001 31 212,768 23,799 45 241,618 42,001 45 271,857 29,727 Commercial mortgage-backed securities: Unrealized loss for less than twelve months — — — 30 163,172 14,483 Unrealized loss for twelve months or longer 30 154,194 18,997 1 2,834 452 30 154,194 18,997 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 54 241,827 49,016 38 242,527 35,118 54 241,827 49,016 56 276,363 38,343 States and political subdivisions: Unrealized loss for less than twelve months 52 24,904 2,192 150 59,459 5,362 Unrealized loss for twelve months or longer 129 40,821 9,507 27 8,093 1,856 181 65,725 11,699 177 67,552 7,218 Total held to maturity: Unrealized loss for less than twelve months 52 24,904 2,192 212 315,556 28,998 Unrealized loss for twelve months or longer 258 678,460 119,521 97 466,222 61,225 310 $ 703,364 $ 121,713 309 $ 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 September 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 $ 11,653 $ 11,469 $ 310 $ 309 Due after one year through five years 84,392 82,835 2,730 2,505 Due after five years through ten years 59,722 58,814 35,679 31,128 Due after ten years 64,817 60,815 38,706 31,784 220,584 213,933 77,425 65,726 Residential mortgage-backed securities 404,042 347,850 283,620 241,619 Commercial mortgage-backed securities 177,618 168,020 173,191 154,194 Collateralized mortgage obligations 804,096 726,435 290,843 241,827 $ 1,606,340 $ 1,456,238 $ 825,079 $ 703,366

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	9 Months Ended
Loans Held for Investment (Tables)	Sep. 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). September 30, December 31, 2023 2022 Commercial real estate $ 3,285,899 $ 3,245,873 Commercial and industrial 1,662,737 1,639,980 Construction and land development 1,088,701 980,896 1-4 family residential 1,783,259 1,767,099 Consumer 26,212 27,602 Broker-dealer (1) 357,244 431,223 8,204,052 8,092,673 Allowance for credit losses (110,822) (95,442) Total loans held for investment, net of allowance $ 8,093,230 $ 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 September 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 $ 957 $ — $ — $ 957 $ 1,877,206 $ 1,878,163 $ — Owner occupied 1,072 3,893 12 4,977 1,402,759 1,407,736 — Commercial and industrial 2,032 193 3,613 5,838 1,656,899 1,662,737 — Construction and land development 4,941 1 — 4,942 1,083,759 1,088,701 — 1-4 family residential 4,269 1,804 2,706 8,779 1,774,480 1,783,259 — Consumer 41 9 8 58 26,154 26,212 — Broker-dealer — — — — 357,244 357,244 — $ 13,312 $ 5,900 $ 6,339 $ 25,551 $ 8,178,501 $ 8,204,052 $ — 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 September 30, 2023 December 31, 2022 Interest Income Recognized With With No With With No Three Months Ended September 30, Nine Months Ended September 30, Allowance Allowance Total Allowance Allowance Total 2023 2022 2023 2022 Commercial real estate: Non-owner occupied $ 432 $ 1,943 $ 2,375 $ 688 $ 562 $ 1,250 $ 83 $ 265 $ 264 $ 422 Owner occupied 4,649 315 4,964 2,862 157 3,019 141 88 465 505 Commercial and industrial 714 9,476 10,190 3,727 5,368 9,095 1,564 303 1,833 930 Construction and land development 562 — 562 1 — 1 9 7 45 22 1-4 family residential 560 8,911 9,471 433 10,862 11,295 432 561 1,267 2,286 Consumer 7 — 7 14 — 14 — — — — Broker-dealer — — — — — — — — — — $ 6,924 $ 20,645 $ 27,569 $ 7,725 $ 16,949 $ 24,674 $ 2,229 $ 1,224 $ 3,874 $ 4,165
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 during the periods presented (in thousands). Total Modifications as a Interest Rate Term Principal Payment % of Portfolio Three Months Ended September 30, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 382 $ — $ — — % Owner occupied — 12 — — — % Commercial and industrial — 11,440 — — 0.7 % Construction and land development — — — — — % 1-4 family residential — — — — — % Consumer — — — — — % Broker-dealer — — — — — % Total $ — $ 11,834 $ — $ — 0.1 % Total Modifications as a Interest Rate Term Principal Payment % of Portfolio Nine Months Ended September 30, 2023 Reduction Extension Forgiveness Delay Segment Commercial real estate: Non-owner occupied $ — $ 34,784 $ — $ — 1.9 % Owner occupied — 2,205 — — 0.2 % Commercial and industrial — 15,057 — 2,868 1.1 % Construction and land development — 286 — — — % 1-4 family residential — — — — — % Consumer — — — — — % Broker-dealer — — — — — % Total $ — $ 52,332 $ — $ 2,868 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 during the periods presented (in thousands). Weighted-Average Term Extension (in months) Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 Commercial real estate: Non-owner occupied 12 26 Owner occupied 24 35 Commercial and industrial 11 11 Construction and land development — 9 1-4 family residential — — Consumer — — Broker-dealer — — Total 11 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 September 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) $ 3,163 $ 31,616 $ 32,778 $ 17,913 $ 7,735 $ 5,594 $ (26) $ 189 $ 98,962 Internal Grade 4-7 (Pass normal risk) 129,170 286,269 370,985 118,082 69,726 48,999 34,867 16,725 1,074,823 Internal Grade 8-11 (Pass high risk and watch) 107,113 176,060 102,960 92,100 55,752 77,102 13,320 814 625,221 Internal Grade 12 (Special mention) — — — — — — — — — Internal Grade 13 (Substandard accrual) 40,821 11,736 14,108 2,553 6,812 752 — — 76,782 Internal Grade 14 (Substandard non-accrual) 382 1,414 — — — 579 — — 2,375 Current period gross charge-offs — — — — — 34 — — 34 Commercial real estate: owner occupied Internal Grade 1-3 (Pass low risk) $ 37,769 $ 30,817 $ 105,834 $ 41,817 $ 17,690 $ 45,379 $ 2,238 $ 14,321 $ 295,865 Internal Grade 4-7 (Pass normal risk) 93,484 172,896 148,564 71,022 63,119 123,573 16,538 — 689,196 Internal Grade 8-11 (Pass high risk and watch) 47,496 79,546 72,988 89,217 19,041 66,033 5,149 1,505 380,975 Internal Grade 12 (Special mention) — — — — 1,024 — — — 1,024 Internal Grade 13 (Substandard accrual) 2,546 3,384 5,166 7,548 5,656 11,314 98 — 35,712 Internal Grade 14 (Substandard non-accrual) 12 4,053 655 — — 244 — — 4,964 Current period gross charge-offs — — — — — 977 — — 977 Commercial and industrial Internal Grade 1-3 (Pass low risk) $ 19,309 $ 30,115 $ 30,538 $ 15,463 $ 20,118 $ 1,857 $ 28,897 $ 17 $ 146,314 Internal Grade 4-7 (Pass normal risk) 58,360 80,794 135,009 25,721 4,521 10,508 279,576 21,522 616,011 Internal Grade 8-11 (Pass high risk and watch) 85,308 127,147 39,601 38,824 7,464 8,063 234,197 2,688 543,292 Internal Grade 12 (Special mention) — — 132 — — — 33,841 — 33,973 Internal Grade 13 (Substandard accrual) 4,106 1,453 4,066 3,992 3,806 370 24,681 22,691 65,165 Internal Grade 14 (Substandard non-accrual) 69 370 147 1,917 — 3,776 — 3,911 10,190 Current period gross charge-offs 276 3,041 87 — 25 586 — — 4,015 Construction and land development Internal Grade 1-3 (Pass low risk) $ 5,322 $ 15,201 $ 12,927 $ — $ 812 $ 341 $ — $ — $ 34,603 Internal Grade 4-7 (Pass normal risk) 213,083 255,710 98,331 28,393 868 1,786 27,943 — 626,114 Internal Grade 8-11 (Pass high risk and watch) 141,367 163,554 46,959 4,073 2,370 232 1,436 9,486 369,477 Internal Grade 12 (Special mention) — — 373 — — — — — 373 Internal Grade 13 (Substandard accrual) 14,613 3,788 — 11,247 — — — 2,393 32,041 Internal Grade 14 (Substandard non-accrual) 277 285 — — — — — — 562 Current period gross charge-offs — — — — — — — — — Construction and land development - individuals FICO less than 620 $ — $ — $ — $ — $ — $ — $ — $ — $ — FICO between 620 and 720 2,750 867 — — — 919 — — 4,536 FICO greater than 720 17,035 3,432 121 51 — — — — 20,639 Substandard non-accrual — — — — — — — — — Other (1) 356 — — — — — — — 356 Current period gross charge-offs — — — — — — — — — 1-4 family residential FICO less than 620 $ — $ 1,457 $ 646 $ 756 $ 255 $ 23,792 $ 237 $ — $ 27,143 FICO between 620 and 720 3,333 16,876 12,627 6,739 4,837 25,693 1,714 — 71,819 FICO greater than 720 136,432 546,544 742,656 90,218 38,609 55,815 3,547 630 1,614,451 Substandard non-accrual — 534 — — — 8,937 — — 9,471 Other (1) 20,233 21,387 12,008 1,385 2,238 3,122 2 — 60,375 Current period gross charge-offs — — — — — 73 — — 73 Amortized Cost Basis by Origination Year Loans 2018 and Converted to September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Term Loans Total Consumer FICO less than 620 $ 709 $ 546 $ 47 $ 88 $ 8 $ 4 $ 352 $ 7 $ 1,761 FICO between 620 and 720 2,879 2,084 571 316 159 40 1,926 10 7,985 FICO greater than 720 2,527 3,163 1,011 726 78 2 2,416 1 9,924 Substandard non-accrual — — — — — 7 — — 7 Other (1) 3,598 2,064 336 312 64 15 146 — 6,535 Current period gross charge-offs 194 54 6 6 3 11 — — 274 Total loans with credit quality measures $ 1,193,622 $ 2,075,162 $ 1,992,144 $ 670,473 $ 332,762 $ 524,848 $ 713,095 $ 96,910 $ 7,599,016 Commercial and industrial (mortgage warehouse lending) $ 237,793 Commercial and industrial (loans accounted for at fair value) $ 9,999 Broker-dealer (margin loans and correspondent receivables) $ 357,244 Total loans held for investment $ 8,204,052 (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)	9 Months Ended
Allowance for Credit Losses (Tables)	Sep. 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 September 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 71,462 $ (1,567) $ (34) $ 10 $ 69,871 Commercial and industrial 17,315 838 (936) 2,505 19,722 Construction and land development 7,395 1,575 — — 8,970 1-4 family residential 11,618 (179) — 33 11,472 Consumer 615 8 (152) 130 601 Broker-dealer 901 (715) — — 186 Total $ 109,306 $ (40) $ (1,122) $ 2,678 $ 110,822 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Nine Months Ended September 30, 2023 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,255 $ 7,586 $ (1,011) $ 41 $ 69,871 Commercial and industrial 16,035 4,417 (4,015) 3,285 19,722 Construction and land development 6,051 2,919 — — 8,970 1-4 family residential 9,313 2,147 (73) 85 11,472 Consumer 554 106 (274) 215 601 Broker-dealer 234 (48) — — 186 Total $ 95,442 $ 17,127 $ (5,373) $ 3,626 $ 110,822 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Three Months Ended September 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 63,719 $ (560) $ — $ 41 $ 63,200 Commercial and industrial 19,836 (1,002) (3,096) 370 16,108 Construction and land development 4,996 (228) — — 4,768 1-4 family residential 5,554 1,049 (14) 23 6,612 Consumer 542 91 (149) 90 574 Broker-dealer 651 (130) — — 521 Total $ 95,298 $ (780) $ (3,259) $ 524 $ 91,783 Balance, Provision for Recoveries on Balance, Beginning of (Reversal of) Loans Charged Off End of Nine Months Ended September 30, 2022 Period Credit Losses Charged Off Loans Period Commercial real estate $ 59,354 $ 3,762 $ — $ 84 $ 63,200 Commercial and industrial 21,982 (1,681) (6,197) 2,004 16,108 Construction and land development 4,674 94 — — 4,768 1-4 family residential 4,589 2,014 (62) 71 6,612 Consumer 578 136 (361) 221 574 Broker-dealer 175 346 — — 521 Total $ 91,352 $ 4,671 $ (6,620) $ 2,380 $ 91,783
Schedule of changes in the allowance for credit losses for loans with off-balance sheet credit exposures	Changes in the allowance for credit losses for loans with off-balance sheet credit exposures are shown below (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 7,992 $ 6,931 $ 7,784 $ 5,880 Other noninterest expense 559 87 767 1,138 Balance, end of period $ 8,551 $ 7,018 $ 8,551 $ 7,018

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	9 Months Ended
Mortgage Servicing Rights (Tables)	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 95,101 $ 121,688 $ 100,825 $ 86,990 Additions 3,759 29,340 23,859 47,850 Sales — — (19,055) (1,876) Changes in fair value: Due to changes in model inputs or assumptions (1) 7,373 7,942 2,834 32,035 Due to customer payoffs (1,282) (2,431) (3,512) (8,460) Balance, end of period $ 104,951 $ 156,539 $ 104,951 $ 156,539 September 30, December 31, 2023 2022 Mortgage loans serviced for others (2) $ 5,105,947 $ 5,144,558 MSR asset as a percentage of serviced mortgage loans 2.06 % 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	September 30, December 31, 2023 2022 Weighted average constant prepayment rate 7.30 % 8.14 % Weighted average discount rate 11.70 % 12.10 % Weighted average life (in years) 9.0 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). September 30, December 31, 2023 2022 Constant prepayment rate: Impact of 10% adverse change $ (3,207) $ (3,288) Impact of 20% adverse change (6,227) (6,375) Discount rate: Impact of 10% adverse change (5,100) (4,797) Impact of 20% adverse change (9,718) (9,147)

Deposits (Tables)

Deposits (Tables)	9 Months Ended
Deposits (Tables)	Sep. 30, 2023
Deposits
Summary of deposits	Deposits are summarized as follows (in thousands). September 30, December 31, 2023 2022 Noninterest-bearing demand $ 3,200,247 $ 3,968,862 Interest-bearing: Demand accounts 4,406,393 4,110,418 Brokered - demand 308,513 5,336 Money market 1,739,708 2,045,554 Brokered - money market 7,376 9,031 Savings 264,111 312,140 Time 1,084,276 864,408 Brokered - time 92,473 — $ 11,103,097 $ 11,315,749

Short-term Borrowings (Tables)

Short-term Borrowings (Tables)	9 Months Ended
Short-term Borrowings (Tables)	Sep. 30, 2023
Short-term borrowings
Schedule of short-term borrowings	Short-term borrowings are summarized as follows (in thousands). September 30, December 31, 2023 2022 Federal funds purchased $ 447,858 $ 397,108 Securities sold under agreements to repurchase 226,812 297,856 Federal Home Loan Bank — — Short-term bank loans — 57,500 Commercial paper 208,329 217,592 $ 882,999 $ 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). Nine Months Ended September 30, 2023 2022 Average balance during the period $ 797,489 $ 530,180 Average interest rate during the period 5.40 % 1.36 % September 30, December 31, 2023 2022 Average interest rate at end of period 5.56 % 4.37 % Securities underlying the agreements at end of period: Carrying value $ 226,846 $ 296,075 Estimated fair value $ 243,825 $ 318,409
Federal Home Loan Bank
Short-term borrowings
Schedule of short-term borrowings	Nine Months Ended September 30, 2023 2022 Average balance during the period $ 180,861 $ — Average interest rate during the period 5.08 % — % September 30, December 31, 2023 2022 Average interest rate at end of period — % — %

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
Notes Payable (Tables)	Sep. 30, 2023
Notes Payable
Schedule of notes payable	Notes payable consisted of the following (in thousands). September 30, December 31, 2023 2022 Senior Notes due April 2025, net of discount of $552 and $699, respectively $ 149,448 $ 149,301 Subordinated Notes due May 2030, net of discount of $536 and $610, respectively 49,464 49,390 Subordinated Notes due May 2035, net of discount of $1,892 and $2,037, respectively 148,108 147,963 $ 347,020 $ 346,654

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2023
Leases
Schedule of supplemental balance sheet information	Supplemental balance sheet information related to finance leases is as follows (in thousands). September 30, December 31, 2023 2022 Finance leases: Premises and equipment $ 7,780 $ 7,780 Accumulated depreciation (6,390) (5,948) Premises and equipment, net $ 1,390 $ 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 8,488 $ 9,121 $ 26,231 $ 28,078 Less operating lease and sublease income (655) (633) (1,965) (1,762) Net operating lease cost $ 7,833 $ 8,488 $ 24,266 $ 26,316 Finance lease cost: Amortization of ROU assets $ 147 $ 147 $ 442 $ 442 Interest on lease liabilities 104 118 324 363 Total finance lease cost $ 251 $ 265 $ 766 $ 805
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases is as follows (in thousands). Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 27,899 $ 27,387 Operating cash flows from finance leases 326 366 Financing cash flows from finance leases 628 563 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 11,396 $ 12,336 Finance leases — —
Schedule of lease terms and discount rates	Information regarding the lease terms and discount rates of the Company’s leases is as follows. September 30, 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 5.4 4.48 % 5.7 3.89 % Finance 3.4 4.95 % 4.0 4.89 %
Schedule of future minimum lease payments under operating leases	Future minimum lease payments under lease agreements as of September 30, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 8,530 $ 325 2024 29,882 1,163 2025 23,898 886 2026 18,833 813 2027 14,987 448 Thereafter 32,115 149 Total minimum lease payments 128,245 3,784 Less amount representing interest (13,911) (1,009) Lease liabilities $ 114,334 $ 2,775
Schedule of future minimum lease payments under finance leases	Future minimum lease payments under lease agreements as of September 30, 2023, are presented below (in thousands). Operating Leases Finance Leases 2023 $ 8,530 $ 325 2024 29,882 1,163 2025 23,898 886 2026 18,833 813 2027 14,987 448 Thereafter 32,115 149 Total minimum lease payments 128,245 3,784 Less amount representing interest (13,911) (1,009) Lease liabilities $ 114,334 $ 2,775

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 27,567 $ 28,715 $ 31,244 $ 31,407 Claims made 6,572 14,247 37,582 42,305 Claims resolved with no payment (1,633) (4,378) (11,418) (12,352) Repurchases (4,430) (11,320) (25,430) (34,096) Indemnification payments (386) — (4,288) — Balance, end of period $ 27,690 $ 27,264 $ 27,690 $ 27,264 Indemnification Liability Reserve Activity Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 15,058 $ 23,750 $ 20,528 $ 27,424 Additions for new sales 480 608 1,317 2,123 Repurchases (1,896) (1,591) (7,781) (6,367) Early payment defaults (65) (90) (295) (212) Indemnification payments (27) — (219) — Change in reserves for loans sold in prior years — (553) — (844) Balance, end of period $ 13,550 $ 22,124 $ 13,550 $ 22,124 September 30, December 31, 2023 2022 Reserve for Indemnification Liability: Specific claims $ 1,109 $ 627 Incurred but not reported claims 12,441 19,901 Total $ 13,550 $ 20,528

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2023
Stock-Based Compensation
Schedule of nonvested RSU activity	The following table summarizes information about nonvested restricted stock unit (“RSU”) activity for the nine months ended September 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 (751) $ 21.93 Forfeited (16) $ 31.57 Balance, September 30, 2023 1,260 $ 34.03

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
Regulatory Matters (Tables)	Sep. 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 September 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 September 30, 2023 December 31, 2022 Buffer Capitalized Amount Ratio Amount Ratio Ratio Ratio Tier 1 capital (to average assets): PlainsCapital $ 1,438,971 10.62 % $ 1,405,164 10.26 % 4.0 % 5.0 % Hilltop 1,954,422 11.92 % 1,900,701 11.47 % 4.0 % N/A Common equity Tier 1 capital PlainsCapital 1,438,971 15.31 % 1,405,164 14.98 % 7.0 % 6.5 % Hilltop 1,954,422 18.60 % 1,900,701 18.23 % 7.0 % N/A Tier 1 capital (to risk-weighted assets): PlainsCapital 1,438,971 15.31 % 1,405,164 14.98 % 8.5 % 8.0 % Hilltop 1,954,422 18.60 % 1,900,701 18.23 % 8.5 % N/A Total capital (to risk-weighted assets): PlainsCapital 1,546,036 16.45 % 1,492,576 15.91 % 10.5 % 10.0 % Hilltop 2,262,945 21.54 % 2,187,652 20.98 % 10.5 % N/A
Schedule of net capital position	At September 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 $ 233,291 $ 4,602 Less: required net capital 7,109 250 Excess net capital $ 226,182 $ 4,352 Net capital as a percentage of aggregate debit items 65.6 % Net capital in excess of 5% aggregate debit items $ 215,518

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
Derivative Financial Instruments (Tables)	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Increase (decrease) in fair value of derivatives during period: PrimeLending $ (946) $ 2,276 $ 5,840 $ (10,975) Hilltop Broker-Dealers 13,214 14,240 (4,016) 23,819 Bank 92 7 76 53
Schedule of derivative positions	Derivative positions are presented in the following table (in thousands). September 30, 2023 December 31, 2022 Notional Estimated Notional Estimated Amount Fair Value Amount Fair Value Derivative instruments (not designated as hedges): IRLCs $ 621,604 $ 2,752 $ 506,278 $ 1,767 Commitments to purchase MBSs 2,283,755 (16,834) 819,681 2,435 Commitments to sell MBSs 3,074,491 31,497 2,188,964 10,711 Interest rate swaps 46,500 4,334 35,784 (1,421) Interest rate swaps back-to-back (asset) (1) 1,421 120 — — Interest rate swaps back-to-back (liability) (1) 1,421 (124) — — U.S. Treasury bond futures and options (2) 338,600 (3,883) 395,500 (449) Interest rate and other futures (2) 399,200 — 2,612,000 — Credit default swaps 4,000 2 3,000 (2) Derivative instruments (designated as hedges): Interest rate swaps designated as cash flow hedges $ 410,000 $ 21,447 $ 430,000 $ 21,703 Interest rate swaps designated as fair value hedges (3) 325,272 49,315 365,323 42,828 (1) Noted derivative instruments include both customer-facing derivatives as well as offsetting derivatives facing other dealer banks. The fair value of these derivatives include a net credit valuation adjustment that was nominal at September 30, 2023, reducing the fair value of the liability. (2) Noted derivative instruments include contracts between the Hilltop Broker-Dealers and counterparties with changes in fair value of the contracts that are settled daily. (3) 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 $275.8 million and $322.5 million as of September 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 $49.5 million and $42.8 million as of September 30, 2023 and December 31, 2022, respectively.

Balance Sheet Offsetting (Table

Balance Sheet Offsetting (Tables)	9 Months Ended
Balance Sheet Offsetting (Tables)	Sep. 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 September 30, 2023 Securities borrowed: Institutional counterparties $ 1,368,945 $ — $ 1,368,945 $ (1,308,458) $ — $ 60,487 Interest rate swaps: Institutional counterparties 75,216 — 75,216 (4,334) (73,650) (2,768) Credit default swaps: Institutional counterparties 2 — 2 (2) — — Reverse repurchase agreements: Institutional counterparties 123,719 — 123,719 (120,140) — 3,579 Forward MBS derivatives: Institutional counterparties 33,379 (482) 32,897 (21,280) (12,337) (720) $ 1,601,261 $ (482) $ 1,600,779 $ (1,454,214) $ (85,987) $ 60,578 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 September 30, 2023 Securities loaned: Institutional counterparties $ 1,304,884 $ — $ 1,304,884 $ (1,245,860) $ — $ 59,024 Repurchase agreements: Institutional counterparties 226,061 — 226,061 (226,061) — — Forward MBS derivatives: Institutional counterparties 18,234 — 18,234 (18,234) — — Treasury futures and options derivatives: Institutional counterparties 3,891 (8) 3,883 — (6,790) (2,907) $ 1,553,070 $ (8) $ 1,553,062 $ (1,490,155) $ (6,790) $ 56,117 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 September 30, 2023 and December 31, 2022. Remaining Contractual Maturities Overnight and Greater Than September 30, 2023 Continuous Up to 30 Days 30-90 Days 90 Days Total Repurchase agreement transactions: U.S. government agency securities $ 8,729 $ 4,494 $ — $ — $ 13,223 Asset-backed securities 93,895 62,336 8,599 48,008 212,838 Securities lending transactions: Corporate securities 113 — — — 113 Equity securities 1,304,771 — — — 1,304,771 Total $ 1,407,508 $ 66,830 $ 8,599 $ 48,008 $ 1,530,945 Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above $ 1,530,945 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)	9 Months Ended
	Sep. 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). September 30, December 31, 2023 2022 Receivables: Securities borrowed $ 1,368,945 $ 1,012,573 Securities failed to deliver 12,422 11,350 Trades in process of settlement 67,270 3,476 Other 11,715 10,656 $ 1,460,352 $ 1,038,055 Payables: Securities loaned $ 1,304,884 $ 916,570 Correspondents 19,471 22,760 Securities failed to receive 36,970 20,167 Other 6,739 6,973 $ 1,368,064 $ 966,470

Segment and Related Informati_2

Segment and Related Information (Tables)	9 Months Ended
Segment and Related Information (Tables)	Sep. 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 September 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 99,047 $ 12,215 $ (5,482) $ (3,175) $ 13,045 $ 115,650 Provision for (reversal of) credit losses 675 (715) — — — (40) Noninterest income 11,668 106,488 88,747 3,159 (13,213) 196,849 Noninterest expense 56,887 97,865 91,505 13,937 (177) 260,017 Income (loss) before taxes $ 53,153 $ 21,553 $ (8,240) $ (13,953) $ 9 $ 52,522 Mortgage All Other and Hilltop Nine Months Ended September 30, 2023 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 304,804 $ 39,279 $ (15,590) $ (9,976) $ 37,105 $ 355,622 Provision for (reversal of) credit losses 17,175 (48) — — — 17,127 Noninterest income 34,046 297,164 247,655 8,944 (37,815) 549,994 Noninterest expense 170,450 283,063 278,918 45,750 (717) 777,464 Income (loss) before taxes $ 151,225 $ 53,428 $ (46,853) $ (46,782) $ 7 $ 111,025 Mortgage All Other and Hilltop Three Months Ended September 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 110,939 $ 13,386 $ (2,939) $ (3,276) $ 5,376 $ 123,486 Provision for (reversal of) credit losses (650) (130) — — — (780) Noninterest income 12,200 100,798 98,200 1,809 (6,032) 206,975 Noninterest expense 60,160 96,843 118,345 14,034 (644) 288,738 Income (loss) before taxes $ 63,629 $ 17,471 $ (23,084) $ (15,501) $ (12) $ 42,503 Mortgage All Other and Hilltop Nine Months Ended September 30, 2022 Banking Broker-Dealer Origination Corporate Eliminations Consolidated Net interest income (expense) $ 304,269 $ 37,481 $ (6,066) $ (9,856) $ 9,705 $ 335,533 Provision for (reversal of) credit losses 4,325 346 — — — 4,671 Noninterest income 37,438 249,139 381,477 5,655 (11,033) 662,676 Noninterest expense 175,921 268,307 386,372 44,388 (1,357) 873,631 Income (loss) before taxes $ 161,461 $ 17,967 $ (10,961) $ (48,589) $ 29 $ 119,907 Mortgage All Other and Hilltop Banking Broker-Dealer Origination Corporate Eliminations Consolidated September 30, 2023 Goodwill $ 247,368 $ 7,008 $ 13,071 $ — $ — $ 267,447 Total assets $ 13,323,789 $ 2,905,822 $ 1,321,313 $ 2,500,705 $ (3,654,771) $ 16,396,858 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)	9 Months Ended
Earnings per Common Share (Tables)	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic earnings per share: Income attributable to Hilltop $ 37,042 $ 32,068 $ 80,975 $ 87,578 Weighted average shares outstanding - basic 65,106 64,552 65,011 72,400 Basic earnings per common share: $ 0.57 $ 0.50 $ 1.25 $ 1.21 Diluted earnings per share: Income attributable to Hilltop $ 37,042 $ 32,068 $ 80,975 $ 87,578 Weighted average shares outstanding - basic 65,106 64,552 65,011 72,400 Effect of potentially dilutive securities 2 117 3 157 Weighted average shares outstanding - diluted 65,108 64,669 65,014 72,557 Diluted earnings per common share: $ 0.57 $ 0.50 $ 1.25 $ 1.21

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies - Nature of Operations and Basis of Presentation (Details)	9 Months Ended
	Sep. 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%
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	Sep. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Mortgage loans held for sale, fair value	$ 933.5	$ 855.7
Mortgage loans held for sale, unpaid principal balance	$ 933.6	$ 850.3

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial assets:
Trading securities	$ 578,901	$ 755,032
Available for sale securities	1,456,238	1,658,766
Equity securities	264	200
MSR asset	104,951	100,825
Financial liabilities:
Securities sold, not yet purchased	51,527	53,023
Recurring
Financial assets:
Trading securities	578,901	755,032
Available for sale securities	1,456,238	1,658,766
Equity securities	264	200
Loans held for sale	933,483	855,697
Loans held for investment	9,999	9,181
Derivative assets	117,072	88,977
MSR asset	104,951	100,825
Financial liabilities:
Securities sold, not yet purchased	51,527	53,023
Derivative liabilities	28,446	11,405
Recurring \| Level 1
Financial assets:
Trading securities	10,636	15,456
Equity securities	264	200
Financial liabilities:
Securities sold, not yet purchased	28,975	25,506
Recurring \| Level 2
Financial assets:
Trading securities	568,265	739,576
Available for sale securities	1,444,238	1,658,766
Loans held for sale	897,285	814,990
Derivative assets	117,072	88,977
Financial liabilities:
Securities sold, not yet purchased	22,552	27,517
Derivative liabilities	28,446	11,405
Recurring \| Level 3
Financial assets:
Available for sale securities	12,000
Loans held for sale	36,198	40,707
Loans held for investment	9,999	9,181
MSR asset	$ 104,951	$ 100,825

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward, Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	$ 146,107	$ 172,447	$ 150,713	$ 134,706
Purchases/Additions	32,674	47,352	90,282	95,915
Sales/Reductions	(9,171)	(19,594)	(58,955)	(46,780)
Transfers to (from) Level 3		(251)	(446)	5,587
Total gains or losses (realized or unrealized):
Included in Net Income	(6,462)	2,911	(18,446)	13,437
Asset balance, End of Year	163,148	202,865	163,148	202,865
Available for sale securities
Rollforward for financial instruments measured at fair value using Level 3 inputs
Purchases/Additions	11,696		11,696
Total gains or losses (realized or unrealized):
Included in Net Income	304		304
Asset balance, End of Year	12,000		12,000
Loans held for sale
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	41,292	41,732	40,707	47,716
Purchases/Additions	17,219	18,012	54,727	38,454
Sales/Reductions	(9,171)	(19,594)	(39,900)	(44,342)
Transfers to (from) Level 3		(251)	(446)	5,587
Total gains or losses (realized or unrealized):
Included in Net Income	(13,142)	(2,485)	(18,890)	(10,001)
Asset balance, End of Year	36,198	37,414	36,198	37,414
Loans held for investment
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	9,714	9,027	9,181
Purchases/Additions				9,611
Sales/Reductions				(562)
Total gains or losses (realized or unrealized):
Included in Net Income	285	(115)	818	(137)
Asset balance, End of Year	9,999	8,912	9,999	8,912
MSR asset
Rollforward for financial instruments measured at fair value using Level 3 inputs
Asset balance, Beginning of Year	95,101	121,688	100,825	86,990
Purchases/Additions	3,759	29,340	23,859	47,850
Sales/Reductions			(19,055)	(1,876)
Total gains or losses (realized or unrealized):
Included in Net Income	6,091	5,511	(678)	23,575
Asset balance, End of Year	$ 104,951	$ 156,539	$ 104,951	$ 156,539

Fair Value Measurements - Level

Fair Value Measurements - Level 3, Inputs, Recurring (Details) - Level 3 - Recurring	Sep. 30, 2023 item	Dec. 31, 2022 item
Available for sale securities \| Discount Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Debt Securities, Available-for-Sale, Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Available for sale securities, Measurement Input	15
Debt Securities, Available-for-Sale, Measurement Input [Extensible Enumeration]	Discount Rate
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	0.87	0.89
Loans held for sale \| Projected Price \| Minimum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.78	0.88
Loans held for sale \| Projected Price \| Maximum
Significant unobservable inputs used in the fair value measurements
Loans Held-for-sale, Measurement Input	0.89	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	0.0730	0.0814
MSR asset \| Discount Rate \| Weighted average
Significant unobservable inputs used in the fair value measurements
Servicing Asset, Measurement Input	0.1170	0.1210

Fair Value Measurements - Chang

Fair Value Measurements - Change in FV (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Option
Net Gains (Losses)	$ 47,262	$ 57,998	$ 135,763	$ 266,435
Other Noninterest Income	40,403	39,910	115,117	79,124
Transfers between Level 1 and Level 2	0	0	0	0
Loans held for sale
Fair Value Option
Net Gains (Losses)	(3,330)	(37,526)	(5,563)	(73,520)
Total Changes in Fair Value	(3,330)	(37,526)	(5,563)	(73,520)
Loans held for investment
Fair Value Option
Net Gains (Losses)		(377)		(660)
Total Changes in Fair Value		(377)		(660)
MSR asset
Fair Value Option
Net Gains (Losses)	6,091	5,511	(678)	23,575
Total Changes in Fair Value	$ 6,091	$ 5,511	$ (678)	$ 23,575

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial assets:
Held to maturity securities	$ 703,366	$ 785,335
Loans held for investment, net	8,093,230	7,997,231
Broker-dealer and clearing organization receivables	1,460,352	1,038,055
Financial liabilities:
Broker-dealer and clearing organization payables	1,368,064	966,470
Carrying Amount
Financial assets:
Cash and cash equivalents	1,517,397	1,580,162
Assets segregated for regulatory purposes	47,491	67,737
Securities purchased under agreements to resell	123,719	118,070
Held to maturity securities	825,079	875,532
Loans held for sale	125,324	126,919
Loans held for investment, net	8,083,231	7,988,050
Broker-dealer and clearing organization receivables	1,460,352	1,038,055
Other assets	79,704	77,052
Financial liabilities:
Deposits	11,103,097	11,315,749
Broker-dealer and clearing organization payables	1,368,064	966,470
Short-term borrowings	882,999	970,056
Debt	347,020	346,654
Other liabilities	18,793	5,410
Estimate of Fair Value
Financial assets:
Cash and cash equivalents	1,517,397	1,580,162
Assets segregated for regulatory purposes	47,491	67,737
Securities purchased under agreements to resell	123,719	118,070
Held to maturity securities	703,366	785,335
Loans held for sale	125,840	125,592
Loans held for investment, net	8,018,445	7,865,261
Broker-dealer and clearing organization receivables	1,460,352	1,038,055
Other assets	79,704	77,052
Financial liabilities:
Deposits	11,086,261	11,295,153
Broker-dealer and clearing organization payables	1,368,064	966,470
Short-term borrowings	882,999	970,056
Debt	324,346	350,104
Other liabilities	18,793	5,410
Estimate of Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	1,517,397	1,580,162
Assets segregated for regulatory purposes	47,491	67,737
Estimate of Fair Value \| Level 2
Financial assets:
Securities purchased under agreements to resell	123,719	118,070
Held to maturity securities	703,366	785,335
Loans held for sale	99,479	82,684
Loans held for investment, net	357,244	431,223
Broker-dealer and clearing organization receivables	1,460,352	1,038,055
Other assets	78,059	75,386
Financial liabilities:
Deposits	11,086,261	11,295,153
Broker-dealer and clearing organization payables	1,368,064	966,470
Short-term borrowings	882,999	970,056
Debt	324,346	350,104
Other liabilities	18,793	5,410
Estimate of Fair Value \| Level 3
Financial assets:
Loans held for sale	26,361	42,908
Loans held for investment, net	7,661,201	7,434,038
Other assets	$ 1,645	$ 1,666

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to the carrying value of investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Adjustments to the carrying value of these investments
Balance, beginning of year	$ 22,654	$ 28,183	$ 27,264	$ 16,817
Additional investments	374		374	11,000
Upward adjustments	186	234	611	679
Impairments and downward adjustments	(21)	(1,013)	(5,056)	(1,092)
Balance, end of year	23,193	$ 27,404	23,193	$ 27,404
Other Assets
Equity Securities without Readily Determinable Fair Value
Other equity investments	$ 55,000		$ 55,000		$ 57,600

Securities - Trading Securities

Securities - Trading Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of fair value of trading securities
Debt Securities, Trading	$ 578,901	$ 755,032
Investment-related Liabilities
Securities sold, not yet purchased, at fair value	51,527	53,023
U.S. Treasury securities
Schedule of fair value of trading securities
Debt Securities, Trading	5,488	10,466
Bonds
Schedule of fair value of trading securities
Debt Securities, Trading	26,776	20,878
Residential mortgage-backed securities
Schedule of fair value of trading securities
Debt Securities, Trading	93,285	214,100
Collateralized mortgage obligations
Schedule of fair value of trading securities
Debt Securities, Trading	159,171	182,717
Other
Schedule of fair value of trading securities
Debt Securities, Trading	13,423
Corporate debt securities
Schedule of fair value of trading securities
Debt Securities, Trading	57,707	42,685
States and political subdivisions
Schedule of fair value of trading securities
Debt Securities, Trading	183,755	260,271
Private-label securitized product
Schedule of fair value of trading securities
Debt Securities, Trading	29,020	9,265
Other
Schedule of fair value of trading securities
Debt Securities, Trading	$ 10,276	$ 14,650

Securities - AFS and HTM, Amort

Securities - AFS and HTM, Amortized Cost and FV (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Available for sale
Amortized Cost		$ 1,606,340		$ 1,788,557
Unrealized Gains		172		460
Unrealized Losses		(150,274)		(130,251)
Fair Value		1,456,238		1,658,766
Held to maturity
Amortized Cost		825,079		875,532
Unrealized Gains				26
Unrealized Losses		(121,713)		(90,223)
Held to maturity, Fair Value		703,366		785,335
Equity Securities
Unrealized net gains (losses) from equity securities during the year		200		100
Equity, at fair value		264		200
Recognized net (loss) gain on equity securities		100	$ (100)
U.S. Treasury securities
Available for sale
Amortized Cost		4,984		19,655
Unrealized Gains				3
Unrealized Losses		(493)		(514)
Fair Value		4,491		19,144
Bonds
Available for sale
Amortized Cost		166,637		202,834
Unrealized Gains		163		323
Unrealized Losses		(1,421)		(900)
Fair Value		165,379		202,257
Residential mortgage-backed securities
Available for sale
Amortized Cost		404,042		455,121
Unrealized Gains		2		12
Unrealized Losses		(56,194)		(48,775)
Fair Value		347,850		406,358
Held to maturity
Amortized Cost		283,620		301,583
Unrealized Losses		(42,001)		(29,727)
Held to maturity, Fair Value		241,619		271,856
Commercial mortgage-backed securities
Available for sale
Amortized Cost		177,618		183,266
Unrealized Gains				65
Unrealized Losses		(9,598)		(7,832)
Fair Value		168,020		175,499
Held to maturity
Amortized Cost		173,191		180,942
Unrealized Losses		(18,997)		(14,935)
Held to maturity, Fair Value		154,194		166,007
Collateralized mortgage obligations
Available for sale
Amortized Cost		804,096		887,521
Unrealized Gains		6
Unrealized Losses		(77,667)		(68,627)
Fair Value		726,435		818,894
Held to maturity
Amortized Cost		290,843		314,705
Unrealized Losses		(49,016)		(38,343)
Held to maturity, Fair Value		241,827		276,362
Corporate debt securities
Available for sale
Amortized Cost		12,000
Fair Value		12,000
States and political subdivisions
Available for sale
Amortized Cost		36,963		40,160
Unrealized Gains		1		57
Unrealized Losses		(4,901)		(3,603)
Fair Value		32,063		36,614
Held to maturity
Amortized Cost		77,425		78,302
Unrealized Gains				26
Unrealized Losses		(11,699)		(7,218)
Held to maturity, Fair Value		$ 65,726		$ 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	Sep. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Number of Securities
Unrealized loss for less than twelve months \| item	45	252
Unrealized loss for twelve months or longer \| item	339	119
Total \| item	384	371
Fair Value
Unrealized loss for less than twelve months	$ 166,681	$ 930,361
Unrealized loss for twelve months or longer	1,304,944	596,199
Total	1,471,625	1,526,560
Unrealized Loss
Unrealized loss for less than twelve months	2,578	44,415
Unrealized loss for twelve months or longer	147,696	85,836
Total	$ 150,274	$ 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	$ 4,491	$ 4,465
Total	4,491	4,465
Unrealized Loss
Unrealized loss for twelve months or longer	493	514
Total	$ 493	$ 514
Bonds
Number of Securities
Unrealized loss for less than twelve months \| item	17	15
Unrealized loss for twelve months or longer \| item	9	3
Total \| item	26	18
Fair Value
Unrealized loss for less than twelve months	$ 109,390	$ 98,246
Unrealized loss for twelve months or longer	46,161	15,263
Total	155,551	113,509
Unrealized Loss
Unrealized loss for less than twelve months	951	388
Unrealized loss for twelve months or longer	470	512
Total	$ 1,421	$ 900
Residential mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item	2	95
Unrealized loss for twelve months or longer \| item	124	30
Total \| item	126	125
Fair Value
Unrealized loss for less than twelve months	$ 761	$ 168,351
Unrealized loss for twelve months or longer	346,191	236,739
Total	346,952	405,090
Unrealized Loss
Unrealized loss for less than twelve months	33	10,036
Unrealized loss for twelve months or longer	56,161	38,739
Total	$ 56,194	$ 48,775
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item	3	11
Unrealized loss for twelve months or longer \| item	18	8
Total \| item	21	19
Fair Value
Unrealized loss for less than twelve months	$ 14,456	$ 79,337
Unrealized loss for twelve months or longer	184,326	86,923
Total	198,782	166,260
Unrealized Loss
Unrealized loss for less than twelve months	858	2,047
Unrealized loss for twelve months or longer	8,740	5,785
Total	$ 9,598	$ 7,832
Collateralized mortgage obligations
Number of Securities
Unrealized loss for less than twelve months \| item	4	97
Unrealized loss for twelve months or longer \| item	137	48
Total \| item	141	145
Fair Value
Unrealized loss for less than twelve months	$ 30,975	$ 563,872
Unrealized loss for twelve months or longer	704,787	244,917
Total	735,762	808,789
Unrealized Loss
Unrealized loss for less than twelve months	338	30,980
Unrealized loss for twelve months or longer	77,329	37,647
Total	$ 77,667	$ 68,627
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months \| item	19	34
Unrealized loss for twelve months or longer \| item	50	29
Total \| item	69	63
Fair Value
Unrealized loss for less than twelve months	$ 11,099	$ 20,555
Unrealized loss for twelve months or longer	18,988	7,892
Total	30,087	28,447
Unrealized Loss
Unrealized loss for less than twelve months	398	964
Unrealized loss for twelve months or longer	4,503	2,639
Total	$ 4,901	$ 3,603

Securities - HTM in an Unrealiz

Securities - HTM in an Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Number of Securities
Unrealized loss for less than twelve months \| item	52	212
Unrealized loss for twelve months or longer \| item	258	97
Total \| item	310	309
Fair Value
Unrealized loss for less than twelve months	$ 24,904	$ 315,556
Unrealized loss for twelve months or longer	678,460	466,222
Total	703,364	781,778
Unrealized Losses
Unrealized loss for less than twelve months	2,192	28,998
Unrealized loss for twelve months or longer	119,521	61,225
Total	$ 121,713	$ 90,223
Residential mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item		14
Unrealized loss for twelve months or longer \| item	45	31
Total \| item	45	45
Fair Value
Unrealized loss for less than twelve months		$ 59,089
Unrealized loss for twelve months or longer	$ 241,618	212,768
Total	241,618	271,857
Unrealized Losses
Unrealized loss for less than twelve months		5,928
Unrealized loss for twelve months or longer	42,001	23,799
Total	$ 42,001	$ 29,727
Commercial mortgage-backed securities
Number of Securities
Unrealized loss for less than twelve months \| item		30
Unrealized loss for twelve months or longer \| item	30	1
Total \| item	30	31
Fair Value
Unrealized loss for less than twelve months		$ 163,172
Unrealized loss for twelve months or longer	$ 154,194	2,834
Total	154,194	166,006
Unrealized Losses
Unrealized loss for less than twelve months		14,483
Unrealized loss for twelve months or longer	18,997	452
Total	$ 18,997	$ 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	$ 241,827	242,527
Total	241,827	276,363
Unrealized Losses
Unrealized loss for less than twelve months		3,225
Unrealized loss for twelve months or longer	49,016	35,118
Total	$ 49,016	$ 38,343
States and political subdivisions
Number of Securities
Unrealized loss for less than twelve months \| item	52	150
Unrealized loss for twelve months or longer \| item	129	27
Total \| item	181	177
Fair Value
Unrealized loss for less than twelve months	$ 24,904	$ 59,459
Unrealized loss for twelve months or longer	40,821	8,093
Total	65,725	67,552
Unrealized Losses
Unrealized loss for less than twelve months	2,192	5,362
Unrealized loss for twelve months or longer	9,507	1,856
Total	$ 11,699	$ 7,218

Securities - AFS Contractual Ma

Securities - AFS Contractual Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
AFS, Amortized Cost, Rolling Maturity
Due in one year or less	$ 11,653
Due after one year through five years	84,392
Due after five years through ten years	59,722
Due after ten years	64,817
Total	220,584
Amortized Cost	1,606,340	$ 1,788,557
AFS, Fair Value, Rolling Maturity
Due in one year or less	11,469
Due after one year through five years	82,835
Due after five years through ten years	58,814
Due after ten years	60,815
Total	213,933
Fair Value	1,456,238	1,658,766
Residential mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	404,042
Amortized Cost	404,042	455,121
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	347,850
Fair Value	347,850	406,358
Commercial mortgage-backed securities
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	177,618
Amortized Cost	177,618	183,266
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	168,020
Fair Value	168,020	175,499
Collateralized mortgage obligations
AFS, Amortized Cost, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	804,096
Amortized Cost	804,096	887,521
AFS, Fair Value, Rolling Maturity
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	726,435
Fair Value	$ 726,435	$ 818,894

Securities - HTM Contractual Ma

Securities - HTM Contractual Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
HTM, Amortized Cost, Rolling Maturities
Due in one year or less	$ 310
Due after one year through five years	2,730
Due after five years through ten years	35,679
Due after ten years	38,706
Total	77,425
Amortized Cost	825,079	$ 875,532
HTM, Fair Value, Rolling Maturities
Due in one year or less	309
Due after one year through five years	2,505
Due after five years through ten years	31,128
Due after ten years	31,784
Total	65,726
Fair Value	703,366	785,335
Residential mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	283,620
Amortized Cost	283,620	301,583
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	241,619
Fair Value	241,619	271,856
Commercial mortgage-backed securities
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	173,191
Amortized Cost	173,191	180,942
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	154,194
Fair Value	154,194	166,007
Collateralized mortgage obligations
HTM, Amortized Cost, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	290,843
Amortized Cost	290,843	314,705
HTM, Fair Value, Rolling Maturities
Mortgage-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities	241,827
Fair Value	$ 241,827	$ 276,362

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Securities
Realized net gains (losses) from trading securities portfolio	$ 4.9	$ (3.2)	$ 24.6	$ (7.9)
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	$ 492.7		$ 492.7		$ 778.6
Fair value of securities pledged	439.8		439.8		$ 717.6
Hilltop Broker-Dealers
Securities
Realized net gains (losses) from trading securities portfolio	$ 7.6	$ 16.6	$ 51.5	$ 25.6

Loans Held for Investment - Sum

Loans Held for Investment - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Loans
Loans	$ 8,204,052		$ 8,092,673
Allowance for loan losses	(110,822)	$ (109,306)	(95,442)	$ (91,783)	$ (95,298)	$ (91,352)
Loans held for investment, net	8,093,230		7,997,231
Commercial real estate
Loans
Loans	3,285,899		3,245,873
Allowance for loan losses	(69,871)	(71,462)	(63,255)	(63,200)	(63,719)	(59,354)
Commercial and industrial
Loans
Loans	1,662,737		1,639,980
Allowance for loan losses	(19,722)	(17,315)	(16,035)	(16,108)	(19,836)	(21,982)
Construction and land development
Loans
Loans	1,088,701		980,896
Allowance for loan losses	(8,970)	(7,395)	(6,051)	(4,768)	(4,996)	(4,674)
1 - 4 family residential
Loans
Loans	1,783,259		1,767,099
Allowance for loan losses	(11,472)	(11,618)	(9,313)	(6,612)	(5,554)	(4,589)
Consumer
Loans
Loans	26,212		27,602
Allowance for loan losses	(601)	(615)	(554)	(574)	(542)	(578)
Broker-dealer
Loans
Loans	357,244		431,223
Allowance for loan losses	$ (186)	$ (901)	$ (234)	$ (521)	$ (651)	$ (175)

Loans Held for Investment - Agi

Loans Held for Investment - Aging (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 8,204,052	$ 8,092,673
Accruing Loans Past Due 90 Days or More		51
Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	13,312	15,788
Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	5,900	3,742
Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	6,339	10,314
Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	25,551	29,844
Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,178,501	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	106,300	92,000
Unpaid principal balance loans past due 90 days or more	106,600	92,400
Commercial real estate
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,285,899	3,245,873
Commercial real estate \| Non-owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,878,163	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	957	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		235
Commercial real estate \| Non-owner occupied \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	957	802
Commercial real estate \| Non-owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,877,206	1,869,750
Commercial real estate \| Owner occupied
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,407,736	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	1,072	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	3,893	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	4,977	3,917
Commercial real estate \| Owner occupied \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,402,759	1,371,404
Commercial and industrial
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,662,737	1,639,980
Accruing Loans Past Due 90 Days or More		49
Commercial and industrial \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	2,032	609
Commercial and industrial \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	193	82
Commercial and industrial \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	3,613	5,598
Commercial and industrial \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	5,838	6,289
Commercial and industrial \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,656,899	1,633,691
Construction and land development
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,088,701	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	4,941	3,665
Construction and land development \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1
Construction and land development \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	4,942	3,665
Construction and land development \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,083,759	977,231
1 - 4 family residential
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,783,259	1,767,099
Accruing Loans Past Due 90 Days or More		1
1 - 4 family residential \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	4,269	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	1,804	773
1 - 4 family residential \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	2,706	4,467
1 - 4 family residential \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8,779	14,973
1 - 4 family residential \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	1,774,480	1,752,126
Consumer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	26,212	27,602
Accruing Loans Past Due 90 Days or More		1
Consumer \| Financing Receivables, 30 to 59 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	41	177
Consumer \| Financing Receivables, 60 to 89 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	9	7
Consumer \| Financing Receivables, Greater than 90 Days Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	8	14
Consumer \| Financial Asset, Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	58	198
Consumer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	26,154	27,404
Broker-dealer
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	357,244	431,223
Broker-dealer \| Financial Asset, Not Past Due
Non-Covered Loans and Allowance for Non-Covered Loan Losses
Loans	$ 357,244	$ 431,223

Loans Held for Investment - Non

Loans Held for Investment - Non-accrual Loans (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) loan	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) loan Office	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Non-accrual loans
Non-accrual Loans With Allowance	$ 6,924		$ 6,924		$ 7,725
Non-accrual Loans With No Allowance	20,645		20,645		16,949
Non-accrual loans	27,569		27,569		24,674
Interest Income Recognized	2,229	$ 1,224	3,874	$ 4,165
Increase (decrease) in non-accrual status loans			2,900
Commercial real estate \| Non-owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	432		432		688
Non-accrual Loans With No Allowance	1,943		1,943		562
Non-accrual loans	2,375		2,375		1,250
Interest Income Recognized	83	265	264	422
Increase (decrease) in non-accrual status loans			1,100
Increase in financing receivable non accrual status			1,400
Commercial real estate \| Owner occupied
Non-accrual loans
Non-accrual Loans With Allowance	4,649		4,649		2,862
Non-accrual Loans With No Allowance	315		315		157
Non-accrual loans	4,964		4,964		3,019
Interest Income Recognized	141	88	465	505
Increase (decrease) in non-accrual status loans			$ 1,900
Number of office property foreclosed \| Office			1
Increase in financing receivable non accrual status			$ 3,900
Commercial and industrial
Non-accrual loans
Non-accrual Loans With Allowance	714		714		3,727
Non-accrual Loans With No Allowance	9,476		9,476		5,368
Non-accrual loans	10,190		10,190		9,095
Interest Income Recognized	$ 1,564	303	$ 1,833	930
Number of loan relationships \| loan	4		4
Increase (decrease) in non-accrual status loans			$ 1,100
Increase in financing receivable non accrual status			7,500
Construction and land development
Non-accrual loans
Non-accrual Loans With Allowance	$ 562		562		1
Non-accrual loans	562		562		1
Interest Income Recognized	9	7	45	22
1 - 4 family residential
Non-accrual loans
Non-accrual Loans With Allowance	560		560		433
Non-accrual Loans With No Allowance	8,911		8,911		10,862
Non-accrual loans	9,471		9,471		11,295
Interest Income Recognized	432	$ 561	1,267	$ 2,286
Increase (decrease) in non-accrual status loans			(1,800)
1 - 4 family residential \| Secured by Residential Properties [Member]
Non-accrual loans
Non-accrual loans held for sale	3,900		3,900		4,800
Consumer
Non-accrual loans
Non-accrual Loans With Allowance	7		7		14
Non-accrual loans	$ 7		$ 7		$ 14

Loans Held for Investment - Amo

Loans Held for Investment - Amortized cost basis of the loans held for investment modified for borrowers (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
TDRs, Non-covered loans
Total amortized cost of financing receivable modified			$ 2,900
Total Modifications as a percentage of portfolio segment	0.10%	0.70%
Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 11,834	$ 52,332
Payment Delay
TDRs, Non-covered loans
Total amortized cost of financing receivable modified		$ 2,868
Commercial real estate \| Non-owner occupied
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment		1.90%
Commercial real estate \| Non-owner occupied \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	382	$ 34,784
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	$ 12	$ 2,205
Commercial and industrial
TDRs, Non-covered loans
Total Modifications as a percentage of portfolio segment	0.70%	1.10%
Commercial and industrial \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified	$ 11,440	$ 15,057
Commercial and industrial \| Payment Delay
TDRs, Non-covered loans
Total amortized cost of financing receivable modified		2,868
Construction and land development \| Term Extension
TDRs, Non-covered loans
Total amortized cost of financing receivable modified		$ 286

Loans Held for Investment - Fin

Loans Held for Investment - Financial effects of the loans held for investment modified for borrowers (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	11 months	22 months
Commercial real estate \| Non-owner occupied
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	12 months	26 months
Commercial real estate \| Owner occupied
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	24 months	35 months
Commercial and industrial
TDRs, Non-covered loans
Weighted-Average Term Extension (in months)	11 months	11 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	9 Months Ended
	Sep. 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) $ in Millions	3 Months Ended	9 Months Ended
Loans Held for Investment - TDRs (Details) $ in Millions	Sep. 30, 2022 USD ($) loan	Sep. 30, 2023 loan	Sep. 30, 2022 USD ($) contract loan
TDRs, Non-covered loans
Number of TDRs granted \| loan	0		3
TDR at extension			$ 3.6
TDR modifications, end of period			2.9
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Internal risk grades of non-covered loans
2023	$ 1,193,622		$ 1,193,622
2022	2,075,162		2,075,162
2021	1,992,144		1,992,144
2020	670,473		670,473
2019	332,762		332,762
2018 and Prior	524,848		524,848
Revolving	713,095		713,095
Loans Converted To Term Loans	96,910		96,910
Total loans with credit quality measures	7,599,016		7,599,016
Allowance for loan and lease losses write-offs	1,122	$ 3,259	5,373	$ 6,620
Total	8,204,052		8,204,052		$ 8,092,673
Commercial real estate
Internal risk grades of non-covered loans
Allowance for loan and lease losses write-offs	34		1,011
Total	3,285,899		3,285,899		3,245,873
Commercial real estate \| Non-owner occupied
Internal risk grades of non-covered loans
Current period gross charge-offs, 2018 and prior			34
Allowance for loan and lease losses write-offs			34
Total	1,878,163		1,878,163		1,870,552
Commercial real estate \| Non-owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	3,163		3,163
2022	31,616		31,616
2021	32,778		32,778
2020	17,913		17,913
2019	7,735		7,735
2018 and Prior	5,594		5,594
Revolving	(26)		(26)
Loans Converted To Term Loans	189		189
Total loans with credit quality measures	98,962		98,962
Commercial real estate \| Non-owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	129,170		129,170
2022	286,269		286,269
2021	370,985		370,985
2020	118,082		118,082
2019	69,726		69,726
2018 and Prior	48,999		48,999
Revolving	34,867		34,867
Loans Converted To Term Loans	16,725		16,725
Total loans with credit quality measures	1,074,823		1,074,823
Commercial real estate \| Non-owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	107,113		107,113
2022	176,060		176,060
2021	102,960		102,960
2020	92,100		92,100
2019	55,752		55,752
2018 and Prior	77,102		77,102
Revolving	13,320		13,320
Loans Converted To Term Loans	814		814
Total loans with credit quality measures	625,221		625,221
Commercial real estate \| Non-owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	40,821		40,821
2022	11,736		11,736
2021	14,108		14,108
2020	2,553		2,553
2019	6,812		6,812
2018 and Prior	752		752
Total loans with credit quality measures	76,782		76,782
Commercial real estate \| Non-owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2023	382		382
2022	1,414		1,414
2018 and Prior	579		579
Total loans with credit quality measures	2,375		2,375
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	1,407,736		1,407,736		1,375,321
Commercial real estate \| Owner occupied \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	37,769		37,769
2022	30,817		30,817
2021	105,834		105,834
2020	41,817		41,817
2019	17,690		17,690
2018 and Prior	45,379		45,379
Revolving	2,238		2,238
Loans Converted To Term Loans	14,321		14,321
Total loans with credit quality measures	295,865		295,865
Commercial real estate \| Owner occupied \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	93,484		93,484
2022	172,896		172,896
2021	148,564		148,564
2020	71,022		71,022
2019	63,119		63,119
2018 and Prior	123,573		123,573
Revolving	16,538		16,538
Total loans with credit quality measures	689,196		689,196
Commercial real estate \| Owner occupied \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	47,496		47,496
2022	79,546		79,546
2021	72,988		72,988
2020	89,217		89,217
2019	19,041		19,041
2018 and Prior	66,033		66,033
Revolving	5,149		5,149
Loans Converted To Term Loans	1,505		1,505
Total loans with credit quality measures	380,975		380,975
Commercial real estate \| Owner occupied \| Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2019	1,024		1,024
Total loans with credit quality measures	1,024		1,024
Commercial real estate \| Owner occupied \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	2,546		2,546
2022	3,384		3,384
2021	5,166		5,166
2020	7,548		7,548
2019	5,656		5,656
2018 and Prior	11,314		11,314
Revolving	98		98
Total loans with credit quality measures	35,712		35,712
Commercial real estate \| Owner occupied \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2023	12		12
2022	4,053		4,053
2021	655		655
2018 and Prior	244		244
Total loans with credit quality measures	4,964		4,964
Commercial and industrial
Internal risk grades of non-covered loans
Current period gross charge-offs, 2023			276
Current period gross charge-offs, 2022			3,041
Current period gross charge-offs,2021			87
Current period gross charge-offs, 2019			25
Current period gross charge-offs, 2018 and prior			586
Allowance for loan and lease losses write-offs	936	3,096	4,015	6,197
Total	1,662,737		1,662,737		1,639,980
Commercial and industrial \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	19,309		19,309
2022	30,115		30,115
2021	30,538		30,538
2020	15,463		15,463
2019	20,118		20,118
2018 and Prior	1,857		1,857
Revolving	28,897		28,897
Loans Converted To Term Loans	17		17
Total loans with credit quality measures	146,314		146,314
Commercial and industrial \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	58,360		58,360
2022	80,794		80,794
2021	135,009		135,009
2020	25,721		25,721
2019	4,521		4,521
2018 and Prior	10,508		10,508
Revolving	279,576		279,576
Loans Converted To Term Loans	21,522		21,522
Total loans with credit quality measures	616,011		616,011
Commercial and industrial \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	85,308		85,308
2022	127,147		127,147
2021	39,601		39,601
2020	38,824		38,824
2019	7,464		7,464
2018 and Prior	8,063		8,063
Revolving	234,197		234,197
Loans Converted To Term Loans	2,688		2,688
Total loans with credit quality measures	543,292		543,292
Commercial and industrial \| Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2021	132		132
Revolving	33,841		33,841
Total loans with credit quality measures	33,973		33,973
Commercial and industrial \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	4,106		4,106
2022	1,453		1,453
2021	4,066		4,066
2020	3,992		3,992
2019	3,806		3,806
2018 and Prior	370		370
Revolving	24,681		24,681
Loans Converted To Term Loans	22,691		22,691
Total loans with credit quality measures	65,165		65,165
Commercial and industrial \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2023	69		69
2022	370		370
2021	147		147
2020	1,917		1,917
2018 and Prior	3,776		3,776
Loans Converted To Term Loans	3,911		3,911
Total loans with credit quality measures	10,190		10,190
Commercial and industrial \| Mortgage Warehouse Lending
Internal risk grades of non-covered loans
Loans without credit quality measures	237,793		237,793
Commercial and industrial \| Loans Accounted At Fair Value
Internal risk grades of non-covered loans
Loans without credit quality measures	9,999		9,999
Construction and land development
Internal risk grades of non-covered loans
Total	1,088,701		1,088,701		980,896
Construction and land development \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	2,750		2,750
2022	867		867
2018 and Prior	919		919
Total loans with credit quality measures	4,536		4,536
Construction and land development \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	17,035		17,035
2022	3,432		3,432
2021	121		121
2020	51		51
Total loans with credit quality measures	20,639		20,639
Construction and land development \| Other.
Internal risk grades of non-covered loans
2023	356		356
Total loans with credit quality measures	356		356
Construction and land development \| Internal Grade 1-3 (Pass low risk)
Internal risk grades of non-covered loans
2023	5,322		5,322
2022	15,201		15,201
2021	12,927		12,927
2019	812		812
2018 and Prior	341		341
Total loans with credit quality measures	34,603		34,603
Construction and land development \| Internal Grade 4-7 (Pass normal risk)
Internal risk grades of non-covered loans
2023	213,083		213,083
2022	255,710		255,710
2021	98,331		98,331
2020	28,393		28,393
2019	868		868
2018 and Prior	1,786		1,786
Revolving	27,943		27,943
Total loans with credit quality measures	626,114		626,114
Construction and land development \| Internal Grade 8-11 (Pass high risk and watch)
Internal risk grades of non-covered loans
2023	141,367		141,367
2022	163,554		163,554
2021	46,959		46,959
2020	4,073		4,073
2019	2,370		2,370
2018 and Prior	232		232
Revolving	1,436		1,436
Loans Converted To Term Loans	9,486		9,486
Total loans with credit quality measures	369,477		369,477
Construction and land development \| Internal Grade 12 (Special mention)
Internal risk grades of non-covered loans
2021	373		373
Total loans with credit quality measures	373		373
Construction and land development \| Internal Grade 13 (Substandard accrual)
Internal risk grades of non-covered loans
2023	14,613		14,613
2022	3,788		3,788
2020	11,247		11,247
Loans Converted To Term Loans	2,393		2,393
Total loans with credit quality measures	32,041		32,041
Construction and land development \| Internal Grade 14 (Substandard non-accrual)
Internal risk grades of non-covered loans
2023	277		277
2022	285		285
Total loans with credit quality measures	562		562
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		14	73	62
Total	1,783,259		1,783,259		1,767,099
1 - 4 family residential \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2022	1,457		1,457
2021	646		646
2020	756		756
2019	255		255
2018 and Prior	23,792		23,792
Revolving	237		237
Total loans with credit quality measures	27,143		27,143
1 - 4 family residential \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	3,333		3,333
2022	16,876		16,876
2021	12,627		12,627
2020	6,739		6,739
2019	4,837		4,837
2018 and Prior	25,693		25,693
Revolving	1,714		1,714
Total loans with credit quality measures	71,819		71,819
1 - 4 family residential \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	136,432		136,432
2022	546,544		546,544
2021	742,656		742,656
2020	90,218		90,218
2019	38,609		38,609
2018 and Prior	55,815		55,815
Revolving	3,547		3,547
Loans Converted To Term Loans	630		630
Total loans with credit quality measures	1,614,451		1,614,451
1 - 4 family residential \| Substandard non-accrual
Internal risk grades of non-covered loans
2022	534		534
2018 and Prior	8,937		8,937
Total loans with credit quality measures	9,471		9,471
1 - 4 family residential \| Other.
Internal risk grades of non-covered loans
2023	20,233		20,233
2022	21,387		21,387
2021	12,008		12,008
2020	1,385		1,385
2019	2,238		2,238
2018 and Prior	3,122		3,122
Revolving	2		2
Total loans with credit quality measures	60,375		60,375
Consumer
Internal risk grades of non-covered loans
Current period gross charge-offs, 2023			194
Current period gross charge-offs, 2022			54
Current period gross charge-offs,2021			6
Current period gross charge-offs, 2020			6
Current period gross charge-offs, 2019			3
Current period gross charge-offs, 2018 and prior			11
Allowance for loan and lease losses write-offs	152	$ 149	274	$ 361
Total	26,212		26,212		27,602
Consumer \| FICO Score, Less than 620
Internal risk grades of non-covered loans
2023	709		709
2022	546		546
2021	47		47
2020	88		88
2019	8		8
2018 and Prior	4		4
Revolving	352		352
Loans Converted To Term Loans	7		7
Total loans with credit quality measures	1,761		1,761
Consumer \| FICO Score, 620 to 720
Internal risk grades of non-covered loans
2023	2,879		2,879
2022	2,084		2,084
2021	571		571
2020	316		316
2019	159		159
2018 and Prior	40		40
Revolving	1,926		1,926
Loans Converted To Term Loans	10		10
Total loans with credit quality measures	7,985		7,985
Consumer \| FICO Score, Greater than 720
Internal risk grades of non-covered loans
2023	2,527		2,527
2022	3,163		3,163
2021	1,011		1,011
2020	726		726
2019	78		78
2018 and Prior	2		2
Revolving	2,416		2,416
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	7		7
Total loans with credit quality measures	7		7
Consumer \| Other.
Internal risk grades of non-covered loans
2023	3,598		3,598
2022	2,064		2,064
2021	336		336
2020	312		312
2019	64		64
2018 and Prior	15		15
Revolving	146		146
Total loans with credit quality measures	6,535		6,535
Broker-dealer
Internal risk grades of non-covered loans
Loans without credit quality measures	357,244		357,244
Total	$ 357,244		$ 357,244		$ 431,223

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 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	900	$ (200)	3,000	$ (1,200)
Provision (reversal) in allowance on collectively evaluated loans	(300)	(500)	14,200	5,900
Net charge-offs		$ 2,700	$ 1,700	$ 4,200
Net recoveries	1,600
Minimum
Allowance for loan losses
Percentage of federal funds interest rate increase scenario			5.25%
Maximum
Allowance for loan losses
Percentage of federal funds interest rate increase scenario			5.50%
Broker-dealer
Allowance for loan losses
Decrease in specific reserves	$ 700

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	$ 109,306	$ 95,298	$ 95,442	$ 91,352
Provision for (Reversal of) Credit Losses	(40)	(780)	17,127	4,671
Loans Charged Off	(1,122)	(3,259)	(5,373)	(6,620)
Recoveries on Charged Off Loans	2,678	524	3,626	2,380
Balance, End of Period	110,822	91,783	110,822	91,783
Commercial real estate
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	71,462	63,719	63,255	59,354
Provision for (Reversal of) Credit Losses	(1,567)	(560)	7,586	3,762
Loans Charged Off	(34)		(1,011)
Recoveries on Charged Off Loans	10	41	41	84
Balance, End of Period	69,871	63,200	69,871	63,200
Commercial and industrial
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	17,315	19,836	16,035	21,982
Provision for (Reversal of) Credit Losses	838	(1,002)	4,417	(1,681)
Loans Charged Off	(936)	(3,096)	(4,015)	(6,197)
Recoveries on Charged Off Loans	2,505	370	3,285	2,004
Balance, End of Period	19,722	16,108	19,722	16,108
Construction and land development
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	7,395	4,996	6,051	4,674
Provision for (Reversal of) Credit Losses	1,575	(228)	2,919	94
Balance, End of Period	8,970	4,768	8,970	4,768
1 - 4 family residential
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	11,618	5,554	9,313	4,589
Provision for (Reversal of) Credit Losses	(179)	1,049	2,147	2,014
Loans Charged Off		(14)	(73)	(62)
Recoveries on Charged Off Loans	33	23	85	71
Balance, End of Period	11,472	6,612	11,472	6,612
Consumer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	615	542	554	578
Provision for (Reversal of) Credit Losses	8	91	106	136
Loans Charged Off	(152)	(149)	(274)	(361)
Recoveries on Charged Off Loans	130	90	215	221
Balance, End of Period	601	574	601	574
Broker-dealer
Changes in the allowance for loan losses for loans held for investments
Balance, Beginning of Period	901	651	234	175
Provision for (Reversal of) Credit Losses	(715)	(130)	(48)	346
Balance, End of Period	$ 186	$ 521	$ 186	$ 521

Allowance for Credit Losses - O

Allowance for Credit Losses - Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Changes in the allowance for credit losses for loans with off-balance sheet credit exposures
Balance, beginning of period	$ 7,992	$ 6,931	$ 7,784	$ 5,880
Other noninterest expense	559	87	767	1,138
Balance, end of period	$ 8,551	$ 7,018	$ 8,551	$ 7,018

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Change in fair value of mortgage servicing rights
Balance, beginning of year			$ 100,825
Balance, end of year	$ 104,951		104,951		$ 100,825
MSR asset
Change in fair value of mortgage servicing rights
Balance, beginning of year	95,101	$ 121,688	100,825	$ 86,990	86,990
Additions	3,759	29,340	23,859	47,850
Sales			(19,055)	(1,876)
Changes in fair value: Due to changes in model inputs or assumptions	7,373	7,942	2,834	32,035
Changes in fair value: Due to customer payoffs	(1,282)	(2,431)	(3,512)	(8,460)
Balance, end of year	104,951	$ 156,539	104,951	$ 156,539	100,825
Mortgage loans serviced for others	$ 5,105,947		$ 5,105,947		$ 5,144,558
MSR asset as a percentage of serviced mortgage loans	2.06%		2.06%		1.96%
Key Assumptions
Weighted average constant prepayment rate (as a percent)			7.30%		8.14%
Weighted average discount rate (as a percent)			11.70%		12.10%
Weighted average life (in years)			9 years		8 years 4 months 24 days

Mortgage Servicing Rights - Sen

Mortgage Servicing Rights - Sensitivity Analysis (Details) - MSR asset - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Sensitivity analysis
Constant prepayment rate: Impact of 10% adverse change	$ (3,207)		$ (3,207)		$ (3,288)
Constant prepayment rate: Impact of 20% adverse change	(6,227)		(6,227)		(6,375)
Discount rate: Impact of 10% adverse change	(5,100)		(5,100)		(4,797)
Discount rate: Impact of 20% adverse change	(9,718)		(9,718)		$ (9,147)
Contractually specified servicing fees, late fees and ancillary fees	$ 8,500	$ 9,900	$ 24,200	$ 27,300

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deposits
Noninterest-bearing demand	$ 3,200,247	$ 3,968,862
Interest-bearing:
Demand accounts	4,406,393	4,110,418
Brokered - demand	308,513	5,336
Money market	1,739,708	2,045,554
Brokered - money market	7,376	9,031
Savings	264,111	312,140
Time	1,084,276	864,408
Brokered - time	92,473
Total deposits	11,103,097	$ 11,315,749
Time deposits that meet or exceed FDIC insurance limit	$ 432,500

Short-term Borrowings (Details)

Short-term Borrowings (Details) $ in Thousands	9 Months Ended
Short-term Borrowings (Details) $ in Thousands	Sep. 30, 2023 USD ($) item	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Short-term borrowings
Short-term borrowings	$ 882,999		$ 970,056
Federal funds purchased
Short-term borrowings
Short-term borrowings	447,858		397,108
Securities sold under agreements to repurchase
Short-term borrowings
Short-term borrowings	226,812		297,856
Federal Home Loan Bank
Short-term borrowings
Average balance during the period	$ 180,861
Average interest rate during the period	5.08%
Federal Home Loan Bank \| Maximum
Short-term borrowings
Maturity term of debt	365 days
Short-term bank loans
Short-term borrowings
Short-term borrowings	$ 0		57,500
Commercial paper
Short-term borrowings
Short-term borrowings	$ 208,329		$ 217,592
Number of commercial paper programs initiated \| item	2
Weighted average interest rate on short-term bank loan borrowings (as a percent)	6.22%
Weighted average remaining life	65 days
Debt instrument, collateral	$ 231,700
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	133 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	$ 797,489	$ 530,180
Average interest rate during the period	5.40%	1.36%
Average interest rate at end of period (as a percent)	5.56%		4.37%
Securities underlying the agreements at end of period: Carrying value	$ 226,846		$ 296,075
Securities underlying the agreements at end of period: Estimated fair value	$ 243,825		$ 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	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument
Notes payable	$ 347,020	$ 346,654
Senior Notes due April 2025
Debt Instrument
Notes payable	149,448	149,301
Unamortized discount	552	699
Subordinated Notes due May 2030
Debt Instrument
Notes payable	49,464	49,390
Unamortized discount	536	610
Subordinated Notes Due May 2035
Debt Instrument
Notes payable	148,108	147,963
Unamortized discount	$ 1,892	$ 2,037

Leases - Supplemental balance s

Leases - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finance leases:
Premises and equipment	$ 7,780	$ 7,780
Accumulated depreciation	(6,390)	(5,948)
Premises and equipment, net	$ 1,390	$ 1,832

Leases - Components of lease co

Leases - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Components of operating lease costs
Operating lease cost	$ 8,488	$ 9,121	$ 26,231	$ 28,078
Less operating lease and sublease income	(655)	(633)	(1,965)	(1,762)
Net operating lease cost	7,833	8,488	24,266	26,316
Amortization of ROU assets	147	147	442	442
Interest on lease liabilities	104	118	324	363
Total finance lease cost	$ 251	$ 265	$ 766	$ 805

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Leases
Operating cash flows from operating leases	$ 27,899	$ 27,387
Operating cash flows from finance leases	326	366
Financing cash flows from finance leases	628	563
Right-of-use assets obtained in exchange for new lease obligations - Operating leases	$ 11,396	$ 12,336

Leases - Lease terms and discou

Leases - Lease terms and discount rates (Details)	Sep. 30, 2023	Dec. 31, 2022
Leases
Operating - Weighted Average Remaining Lease Term (Years)	5 years 4 months 24 days	5 years 8 months 12 days
Finance - Weighted Average Remaining Lease Term (Years)	3 years 4 months 24 days	4 years
Operating - Weighted Average Discount Rate	4.48%	3.89%
Finance - Weighted Average Discount Rate	4.95%	4.89%

Leases- Lease maturities (Detai

Leases- Lease maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating leases maturities
2023	$ 8,530
2024	29,882
2025	23,898
2026	18,833
2027	14,987
Thereafter	32,115
Total minimum lease payments	128,245
Less amount representing interest	(13,911)
Lease liabilities	114,334	$ 126,759
Finance Leases maturities:
2023	325
2024	1,163
2025	886
2026	813
2027	448
Thereafter	149
Total minimum lease payments	3,784
Less amount representing interest	(1,009)
Lease liabilities	$ 2,775
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities.

Leases - Operating leases that

Leases - Operating leases that have not yet commenced (Details) $ in Millions	Sep. 30, 2023 USD ($)
Leases
Additional operating leases that have not yet commenced	$ 2.2
Expected to commence	2 years

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Taxes
Effective income tax rate (as a percent)	25.20%	21.80%	21.60%	22.70%

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 08, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 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		$ 27,567	$ 28,715	$ 31,244	$ 31,407
Claims made		6,572	14,247	37,582	42,305
Claims resolved with no payment		(1,633)	(4,378)	(11,418)	(12,352)
Repurchases		(4,430)	(11,320)	(25,430)	(34,096)
Indemnification payments		(386)		(4,288)
Balance, end of period		27,690	27,264	27,690	27,264
Reserve for Indemnification Liability:
Total		27,690	27,264	27,690	27,264	$ 31,244
Indemnification Agreement
Commitments and Contingencies
Provision for indemnification losses		500	100	1,300	1,300
Roll-forward of claims activity for loans put-back to the mortgage origination segment
Balance, beginning of period		15,058	23,750	20,528	27,424
Additions for new sales		480	608	1,317	2,123
Repurchases		(1,896)	(1,591)	(7,781)	(6,367)
Early payment defaults		(65)	(90)	(295)	(212)
Indemnification payments		(27)		(219)
Change in reserves for loans sold in prior years			(553)		(844)
Balance, end of period		13,550	22,124	13,550	22,124
Reserve for Indemnification Liability:
Specific claims		1,109		1,109		627
Incurred but not reported claims		12,441		12,441		19,901
Total		$ 13,550	$ 22,124	$ 13,550	$ 22,124	$ 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	Sep. 30, 2023 USD ($)
Commitments to Extend Credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 2,200
Standby Letters of Credit
Financial Instruments with Off-Balance Sheet Risk
Outstanding commitments	$ 49.5

Stock-Based Compensation - Plan

Stock-Based Compensation - Plan Information (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
2020 Plan \| Director
Stock based compensation
Common shares granted to members of board of directors as compensation for director services	14,440	16,501

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - 2020 Plan - RSUs shares in Thousands	9 Months Ended
	Sep. 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	(751)
Forfeited (in shares) \| shares	(16)
Balance at the end of the period ( in shares) \| shares	1,260
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	21.93
Forfeited (in dollars per share) \| $ / shares	31.57
Balance at the end of the period (in dollars per share) \| $ / shares	$ 34.03

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - 2020 Plan - RSUs $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Stock based compensation
Vested/Released number of shares withheld to satisfy employee statutory tax obligations (in shares)	134,731
Number of shares awarded (in shares)	479,000
Number of awards subject to time-based vesting (in shares)	886,096
Number of awards vesting upon achievement of performance goals (in shares)	374,299
Performance period	3 years
Vesting period	3 years
Unrecognized compensation expense \| $	$ 18.5
Weighted average period for unrecognized compensation expense (in years)	1 year 4 months 6 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)	292,262
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	9 Months Ended
	Sep. 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	$ 1,438,971	$ 1,405,164
Actual Ratio	0.1062	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	$ 1,438,971	$ 1,405,164
Actual Ratio	0.1531	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	$ 1,438,971	$ 1,405,164
Actual Ratio	0.1531	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	$ 1,546,036	$ 1,492,576
Actual Ratio	0.1645	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	$ 1,954,422	$ 1,900,701
Actual Ratio	0.1192	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	$ 1,954,422	$ 1,900,701
Actual Ratio	0.1860	0.1823
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.070
Tier 1 capital (to risk-weighted assets)
Actual Amount	$ 1,954,422	$ 1,900,701
Actual Ratio	0.1860	0.1823
Minimum Capital Requirement Including Conservation Buffer fully phased-in, ratio	0.085
Total capital (to risk-weighted assets)
Actual Amount	$ 2,262,945	$ 2,187,652
Actual Ratio	0.2154	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	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 47,491	$ 67,737	$ 109,358
Hilltop Securities
Net Capital
Net capital	233,291
Less: required net capital	7,109
Excess net capital	$ 226,182
Net capital as a percentage of aggregate debit items	65.60%
Net capital in excess of 5% aggregate debt items	$ 215,518
Momentum Independent Network
Net Capital
Net capital	4,602
Less: required net capital	250
Excess net capital	4,352
Hilltop Broker-Dealers
Net Capital
Amount required to be segregated in cash and securities for the benefit of customers	$ 47,500	$ 67,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Oct. 19, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 31, 2023
Stockholders' Equity
Cash dividends declared per common share	$ 0.16	$ 0.16	$ 0.15	$ 0.48	$ 0.45
Cash dividends paid				$ 31,200	$ 33,500
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Bank And PrimeLending [Member] \| Other Liabilities
Derivative financial instruments
Cash collateral advanced to offset net derivative assets	$ 86,100		$ 86,100		$ 65,000
Not Designated as Hedging Instrument \| Prime Lending
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	(946)	$ 2,276	5,840	$ (10,975)
Not Designated as Hedging Instrument \| Hilltop Broker-Dealers
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	13,214	14,240	(4,016)	23,819
Not Designated as Hedging Instrument \| Plains Capital Bank
Derivative financial instruments
Increase (decrease) in the fair value of the derivatives	92	$ 7	76	$ 53
Not Designated as Hedging Instrument \| PrimeLending and Hilltop Broker-Dealers \| Other Assets
Derivative financial instruments
Cash collateral advanced to offset net derivative liability	13,400		13,400		10,600
Interest Rate Lock Commitments \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	621,604		621,604		506,278
Estimated Fair Value	2,752		2,752		1,767
Commitments to Purchase MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	2,283,755		2,283,755		819,681
Estimated Fair Value	(16,834)		(16,834)		2,435
Commitments to Sell MBSs \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	3,074,491		3,074,491		2,188,964
Estimated Fair Value	31,497		31,497		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	100		100		8,400
Interest rate swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	46,500		46,500		35,784
Estimated Fair Value	4,334		4,334		(1,421)
Interest rate swaps \| Designated as hedges
Derivative financial instruments
Available for sale securities and loans held for investment	275,800		275,800		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	21,447		21,447		21,703
Interest rate swaps \| Fair Value Hedging \| Designated as hedges
Derivative financial instruments
Notional Amount	325,272		325,272		365,323
Estimated Fair Value	49,315		49,315		42,828
Cumulative adjustment in available for sale securities and loans held for investment	49,500		49,500		42,800
Interest rate swaps back-to-back (asset) \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,421		1,421
Estimated Fair Value	120		120
Interest rate swaps back-to-back (liability) \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	1,421		1,421
Estimated Fair Value	(124)		(124)
Interest rate and other futures \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	399,200		399,200		2,612,000
U.S. Treasury bond futures and options \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	338,600		338,600		395,500
Estimated Fair Value	(3,883)		(3,883)		(449)
Credit default swaps \| Not Designated as Hedging Instrument
Derivative financial instruments
Notional Amount	4,000		4,000		3,000
Estimated Fair Value	$ 2		$ 2		$ (2)

Balance Sheet Offsetting - Asse

Balance Sheet Offsetting - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Reverse repurchase agreements:
Net Amounts of Assets Presented in the Balance Sheet	$ 123,719	$ 118,070
Total
Gross Amounts of Recognized Assets	1,601,261	1,212,123
Gross Amounts Offset in the Balance Sheet	(482)	(3,916)
Net Amounts of Assets Presented in the Balance Sheet	1,600,779	1,208,207
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,454,214)	(1,089,776)
Cash Collateral Pledged	(85,987)	(64,630)
Net Amount	60,578	53,801
Institutional Counterparties
Securities borrowed:
Gross Amounts of Recognized Assets	1,368,945	1,012,573
Net Amounts of Assets Presented in the Balance Sheet	1,368,945	1,012,573
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,308,458)	(964,517)
Net Amount	60,487	48,056
Interest rate swaps \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	75,216	64,729
Net Amounts of Assets Presented in the Balance Sheet	75,216	64,729
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(4,334)
Cash Collateral Pledged	(73,650)	(64,630)
Net Amount	(2,768)	99
Credit default swaps \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	2
Net Amounts of Assets Presented in the Balance Sheet	2
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(2)
Net Amount	0
Reverse repurchase agreements \| Institutional Counterparties
Reverse repurchase agreements:
Gross Amounts of Recognized Assets	123,719	118,070
Net Amounts of Assets Presented in the Balance Sheet	123,719	118,070
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(120,140)	(115,302)
Net Amount	3,579	2,768
Forward MBS Derivatives \| Institutional Counterparties
Derivatives:
Gross Amounts of Recognized Assets	33,379	16,694
Gross Amounts Offset in the Balance Sheet	(482)	(3,410)
Net Amounts of Assets Presented in the Balance Sheet	32,897	13,284
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(21,280)	(9,957)
Cash Collateral Pledged	(12,337)
Net Amount	$ (720)	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	Sep. 30, 2023	Dec. 31, 2022
Total
Gross Amounts of Recognized Liabilities	$ 1,553,070	$ 1,215,307
Gross Amounts Offset in the Balance Sheet	(8)
Net Amounts of Liabilities Presented in the Balance Sheet	1,553,062	1,215,307
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,490,155)	(1,192,512)
Cash Collateral Pledged	(6,790)
Net Amount	56,117	22,795
Institutional Counterparties
Securities loaned:
Gross Amounts of Recognized Liabilities	1,304,884	916,570
Net Amounts of Liabilities Presented in the Balance Sheets	1,304,884	916,570
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(1,245,860)	(871,037)
Net Amount	59,024	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		2
Net Amounts of Liabilities Presented in the Balance Sheet		2
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments		(2)
Net Amount		0
Institutional Counterparties \| Repurchase agreements
Repurchase agreements:
Gross Amounts of Recognized Liabilities	226,061	296,978
Net Amounts of Liabilities Presented in the Balance Sheet	226,061	296,978
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(226,061)	(319,897)
Net Amount	0	(22,919)
Institutional Counterparties \| Forward MBS Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	18,234	138
Net Amounts of Liabilities Presented in the Balance Sheet	18,234	138
Gross Amounts Not Offset in the Balance Sheet
Financial Instruments	(18,234)	(138)
Net Amount	0	$ 0
Institutional Counterparties \| Treasury Futures And Option Derivatives
Derivatives:
Gross Amounts of Recognized Liabilities	3,891
Gross Amounts Offset in the Balance Sheet	(8)
Net Amounts of Liabilities Presented in the Balance Sheet	3,883
Gross Amounts Not Offset in the Balance Sheet
Cash Collateral Pledged	(6,790)
Net Amount	$ (2,907)

Balance Sheet Offsetting - Secu

Balance Sheet Offsetting - Secured Borrowings (Details) $ in Thousands	9 Months Ended
	Sep. 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	$ 1,530,945	$ 1,213,548
Gross amount of recognized liabilities for repurchase agreements and securities lending in offsetting disclosure above	$ 1,530,945	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	$ 1,407,508	1,047,186
Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	66,830	2,539
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	8,599	141,461
Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Total borrowings	48,008	22,362
US Treasury and agency securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	13,223
US Treasury and agency securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	8,729
US Treasury and agency securities \| Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	4,494
Assets-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	212,838	296,978
Assets-backed securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	93,895	130,616
Assets-backed securities \| Maturity up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	62,336	2,539
Assets-backed securities \| Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	8,599	141,461
Assets-backed securities \| Maturity over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Repurchase agreements transactions	48,008	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	1,304,771	916,457
Equity Securities \| Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Securities lending transactions	$ 1,304,771	$ 916,457

Broker-Dealer and Clearing Or_3

Broker-Dealer and Clearing Organization Receivables and Payables (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Receivables:
Securities borrowed	$ 1,368,945	$ 1,012,573
Securities failed to deliver	12,422	11,350
Trades in process of settlement	67,270	3,476
Other	11,715	10,656
Total receivables	1,460,352	1,038,055
Payables:
Securities loaned	1,304,884	916,570
Correspondents	19,471	22,760
Securities failed to receive	36,970	20,167
Other	6,739	6,973
Total Payables	$ 1,368,064	$ 966,470

Segment and Related Informati_3

Segment and Related Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment and Related Information (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) item segment	Sep. 30, 2022 USD ($)	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)	$ 115,650	$ 123,486	$ 355,622	$ 335,533
Provision for (reversal of) credit losses	(40)	(780)	17,127	4,671
Noninterest income	196,849	206,975	549,994	662,676
Noninterest expense	260,017	288,738	777,464	873,631
Income before income taxes	52,522	42,503	111,025	119,907
Goodwill	267,447		267,447		$ 267,447
Total assets	16,396,858		16,396,858		16,259,282
Operating Segments \| Banking
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	99,047	110,939	304,804	304,269
Provision for (reversal of) credit losses	675	(650)	17,175	4,325
Noninterest income	11,668	12,200	34,046	37,438
Noninterest expense	56,887	60,160	170,450	175,921
Income before income taxes	53,153	63,629	151,225	161,461
Goodwill	247,368		247,368		247,368
Total assets	13,323,789		13,323,789		13,420,110
Operating Segments \| Broker-Dealer
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	12,215	13,386	39,279	37,481
Provision for (reversal of) credit losses	(715)	(130)	(48)	346
Noninterest income	106,488	100,798	297,164	249,139
Noninterest expense	97,865	96,843	283,063	268,307
Income before income taxes	21,553	17,471	53,428	17,967
Goodwill	7,008		7,008		7,008
Total assets	2,905,822		2,905,822		2,672,709
Operating Segments \| Mortgage Origination
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(5,482)	(2,939)	(15,590)	(6,066)
Noninterest income	88,747	98,200	247,655	381,477
Noninterest expense	91,505	118,345	278,918	386,372
Income before income taxes	(8,240)	(23,084)	(46,853)	(10,961)
Goodwill	13,071		13,071		13,071
Total assets	1,321,313		1,321,313		1,249,284
Corporate
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	(3,175)	(3,276)	(9,976)	(9,856)
Noninterest income	3,159	1,809	8,944	5,655
Noninterest expense	13,937	14,034	45,750	44,388
Income before income taxes	(13,953)	(15,501)	(46,782)	(48,589)
Total assets	2,500,705		2,500,705		2,465,513
All Other and Eliminations
Information about the revenues, operating results, goodwill and assets
Net interest income (expense)	13,045	5,376	37,105	9,705
Noninterest income	(13,213)	(6,032)	(37,815)	(11,033)
Noninterest expense	(177)	(644)	(717)	(1,357)
Income before income taxes	9	$ (12)	7	$ 29
Total assets	$ (3,654,771)		$ (3,654,771)		$ (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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic earnings per share:
Income attributable to Hilltop	$ 37,042	$ 32,068	$ 80,975	$ 87,578
Weighted average shares outstanding - basic (in shares)	65,106	64,552	65,011	72,400
Basic earnings per common share (in dollars per share)	$ 0.57	$ 0.50	$ 1.25	$ 1.21
Diluted earnings per share:
Income attributable to Hilltop	$ 37,042	$ 32,068	$ 80,975	$ 87,578
Weighted average shares outstanding - basic (in shares)	65,106	64,552	65,011	72,400
Effect of potentially dilutive securities (in shares)	2	117	3	157
Weighted average shares outstanding - diluted (in shares)	65,108	64,669	65,014	72,557
Diluted earnings per common share (in dollars per share)	$ 0.57	$ 0.50	$ 1.25	$ 1.21

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 37,042	$ 32,068	$ 80,975	$ 87,578

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 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