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Hilltop Holdings Inc. (HTH), based in Dallas, Texas, is a prominent financial holding company primarily engaged in offering a wide range of banking and financial services. Through its principal subsidiary, PlainsCapital Bank, Hilltop Holdings delivers comprehensive business and consumer banking services across numerous offices in Texas. The bank is well-regarded for its customer-centric approach, providing tailored financial solutions to meet the needs of both individuals and businesses.
In addition to traditional banking, Hilltop Holdings operates in other financial sectors through its broker-dealer and mortgage origination segments. PrimeLending, a national mortgage originator, is a significant part of Hilltop's operations, contributing robustly to the company’s revenue stream by offering a variety of mortgage products to its clients. This multi-faceted approach allows Hilltop Holdings to maintain a diversified revenue base and service portfolio.
Hilltop Holdings is committed to maintaining solid financial health, which is reflected in its consistent performance and strategic acquisitions aimed at enhancing its market position. The company’s strong partnerships and customer-oriented services have helped it build a reputable standing in the financial services industry.
Recent achievements include expanding its geographical footprint and continuously updating its product offerings to cater to evolving market demands. Hilltop Holdings ensures it stays at the forefront of the financial industry by leveraging technology and innovation to provide efficient and secure banking solutions.
The company's latest news and developments can be found on financial news platforms, reflecting its ongoing commitment to transparency and shareholder value.
Hilltop Holdings (HTH) reported a net income of $25.8 million, or $0.40 per diluted share for Q1 2023, up from $22.3 million or $0.28 in Q1 2022. Significant decreases in mortgage origination income contributed to a 51.9% decline in net gains from sale of loans year-over-year, totaling $68.7 million. The company declared a quarterly cash dividend of $0.16 per share, payable May 25, 2023. Total assets grew to $17.0 billion, with a consolidated return on average assets of 0.69% and return on average equity reaching 5.12%. Noninterest income decreased by 24.9% to $162.5 million, while noninterest expenses fell by 12.5% to $250.5 million. The provision for credit losses was $2.3 million, showing a decrease from the $3.6 million recorded in the previous quarter.
Hilltop Holdings Inc. (NYSE: HTH), a Dallas-based financial holding company, will host a live webcast and conference call on April 21, 2023, at 8:00 AM Central to discuss its first quarter 2023 financial results. Hilltop President and CEO Jeremy B. Ford, along with CFO William B. Furr, will present details on the company's performance.
Interested parties can join the call by dialing access numbers provided or through Hilltop's Investor Relations website. As of March 31, 2023, Hilltop employed approximately 4,100 people and operated around 355 locations in 47 states, primarily through PlainsCapital Bank and its subsidiaries.
PrimeLending announces the launch of a new reverse mortgage product aimed at homeowners aged 62 and older, allowing them to leverage their home equity as income during retirement. This innovative financing option offers flexibility, enabling customers to choose between a lump sum, monthly payments, or a line of credit without needing to sell their homes. CEO Steve Thompson emphasized the commitment to providing customers with valuable financial solutions, enhancing their financial stability. Interested homeowners can find more information about this offering on the PrimeLending website.
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