# EDGAR Filing Document

**Accession Number:** 0001265131
**File Stem:** 0001558370-23-000619
**Filing Date:** 2023-1
**Character Count:** 33947
**Document Hash:** f7fe1428008183bec31200457b8c3a25
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001558370-23-000619.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001558370-23-000619

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 33

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hilltop Holdings Inc.
- **CENTRAL INDEX KEY:** 0001265131
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 841477939
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31987
- **FILM NUMBER:** 23558123

**BUSINESS ADDRESS:**
- **STREET 1:** 6565 HILLCREST AVE.
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75205
- **BUSINESS PHONE:** 214.855.2177

**MAIL ADDRESS:**
- **STREET 1:** 6565 HILLCREST AVE.
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AFFORDABLE RESIDENTIAL COMMUNITIES INC
- **DATE OF NAME CHANGE:** 20030929

?xml version='1.0' encoding='UTF-8'? UNITED STATES

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **January 26, 2023**

**Hilltop Holdings Inc.**

(Exact name of registrant as specified in its charter)

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| &nbsp;&nbsp;**Maryland** | &nbsp;&nbsp;**1-31987** | &nbsp;&nbsp;**84-1477939** |
| &nbsp;&nbsp;(State or other jurisdiction of<br>incorporation) | &nbsp;&nbsp;(Commission<br>File Number) | &nbsp;&nbsp;(IRS Employer Identification<br>No.) |

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|:---|:---|
| **6565 Hillcrest Avenue**  |  |
| **Dallas, Texas** | **75205** |
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(214) 855-2177**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to section 12(b) of the Act:

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| **Title of each class** | **Trading symbol** | **Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share | HTH | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b–2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Section 2 – Financial Information**

**Item 2.02 Results of Operations and Financial Condition.**

A copy of the Earnings Presentation of Hilltop Holdings Inc., or the Company, for the quarter ended December 31, 2022 is set forth in Exhibit 99.1 attached to this Current Report on Form 8-K and is incorporated herein by reference. The Company intends to use the Earnings Presentation, in whole or in part, in one or more meetings with investors or analysts, including in a webcast on January 27, 2023 at 8:00 a.m. (central time).

The information in this Item (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth in such filing.

**Section 9 – Financial Statements and Exhibits**

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Financial statements of businesses acquired.

Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Pro forma financial information.

Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Shell company transactions.

Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

The following exhibit(s) are filed or furnished, depending on the relevant item requiring such exhibit, in accordance with the provisions of Item 601 of Regulation S-K and Instruction B.2 to this form.

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| &nbsp;&nbsp;**Exhibit**<br>**Number** | &nbsp;&nbsp;<br>**Description of Exhibit** |
| &nbsp;&nbsp;<br>99.1 | &nbsp;&nbsp;<br>[Fourth Quarter 2022 Earnings Presentation (furnished pursuant to Item 2.02)](hth-20230126xex99d1.htm). |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Cover Page Interactive File (formatted as Inline XBRL). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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|  |  | **Hilltop Holdings Inc.,** | **Hilltop Holdings Inc.,** |
|  |  | a Maryland corporation | a Maryland corporation |
| Date: | January 26, 2023 | By: | /s/ COREY PRESTIDGE |
|  |  | Name: | Corey G. Prestidge |
|  |  | Title: | Executive Vice President,  |
|  |  |  | General Counsel & Secretary |

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## Exhibit 99.1

#### Exhibit 99.1

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilltop Holdings Inc.Earnings PresentationQ4 2022 January 27, 2023  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preface 2 Additional Information Corporate Headquarters6565 Hillcrest AveDallas, TX 75205Phone: 214-855-2177www.hilltop-holdings.com Please Contact:Erik YohePhone: 214-525-4634Email: eyohe@hilltop-holdings.comFORWARD-LOOKING STATEMENTSThis presentation and statements made by representatives of Hilltop Holdings Inc. ("Hilltop" or the "Company") during the courseof this presentation include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our outlook, our business strategy, our financial condition, our efforts to make strategic acquisitions, our revenue, our liquidity and sources of funding, market trends, operations and business, taxes, the impact of natural disasters or public health emergencies, such as the current coronavirus("COVID-19") global pandemic, information technology expenses, capital levels, mortgage servicing rights ("MSR") assets, stock repurchases, dividend payments,expectations concerning mortgage loan origination volume, servicer advances and interest rate compression, expected levels of refinancing as a percentage of total loan origination volume, projected losses on mortgage loans originated, total expenses, anticipated changes in our revenue, earnings, or taxes, the effects of government regulation applicable to our operations, the appropriateness of, and changes in, our allowance for credit losses and provision for (reversal of) credit losses, future benchmark rates and economic growth, anticipated investment yields, expected accretion of discount on loans in future periods, the collectability of loans, cybersecurity incidents, the outcome of litigation, and our other plans, objectives, strategies, expectations and intentions and other statements that are not statements of historical fact, and may be identified by words such as "anticipates," "believes," "building", "could," "estimates," "expects," "forecasts," "goal," "guidance", "intends," "may," "might," "outlook", "plan," "probable," "projects," "seeks," "should," "target," "view" or "would" or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: (i) the credit risks of lending activities, including our ability to estimate credit losses and increases to the allowance for credit losses, as well as the effects of changes in the level of, and trends in, loan delinquencies and write-offs; (ii) effectiveness of our data security controls in the face of cyber attacks; (iii) changes in general economic, market and business conditions in areas or markets where we compete, including changes in the price of crude oil; (iv) changes in the interest rate environment; (v) risks associated with our concentration in real estate related loans; ; (vi) the effects of our indebtedness on our ability to manage our business successfully, including the restrictions imposed by the indenture governing our indebtedness; (vii) changes in state and federal laws, regulations or policies affecting one or more of our business segments, including responses to the COVID-19 pandemic, changes in regulatory fees, deposit insurance premiums, capital requirements and the Dodd-Frank Wall Street Reform andConsumer Protection Act; (viii) cost and availability of capital; (ix) changes in key management; (x) competition in our banking, broker-dealer and mortgage origination segments from other banks and financial institutions, as well as investment banking and financial advisory firms, mortgage bankers, asset-based non-bank lenders and government agencies; (xi) legal and regulatory proceedings; (xii) risks associated with merger and acquisition integration; and (xiii) our ability to use excess capital in an effective manner. For further discussion of such factors, see the risk factors described in our most recent Annual Report on Form 10-K, and subsequentQuarterly Reports on Form 10-Q and other reports, that we have filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement. The information contained herein is preliminary and based on Company data available at the time of the earnings presentation.Itspeaks only as of the particular date or dates included in the accompanying slides. Hilltop Holdings does not undertake an obligation to, and disclaims any duty to, update any of the information herein.  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q4 2022 3Investor Highlights –Notes:(1)Average Bank Loans HFI reflect consolidated loans held for investment excluding margin loans from the broker-dealer business. •PlainsCapital Bank generated $58.0 million in pre-tax income during Q4 2022 relative to $68.4 million in Q4 2021. The decline was driven by a $22.4 million increase in provision expense to $3.9 million, partially offset by flat expenses and $12.1 million of net interest income growth•Average bank loans HFI1increased from Q3 2022 by $101 million, or 1%, as 1-4 Family Retained Mortgages and growth in our core C&I portfolio more than offset lower National Warehouse Lending balances during the period •Average bank deposits decreased from Q3 2022 by $270 million, or 2%, as a result of both normal end of the year withdrawal activity from public funds and customers moving deposit balances into higher yielding assets as interest rates have continued to increase•Bank net interest margin of 3.42% remained flat from Q3 2022 as income from higher yielding assets was offset by rising interest costs on deposits and other borrowings •PrimeLending incurred a $25.6 million pre-tax loss during Q4 2022, a decrease in pre-tax income of $56.9 million from Q4 2021•Mortgage origination volume in Q4 2022 was $2.0 billion, a decline of 59% from Q4 2021•Gain-on-sale of loans to third parties declined by 151 basis points from Q4 2021 to 211 basis points for Q4 2022 as interest rates increased, volumes have declined, and pricing has remained very competitive •Noninterest expenses at PrimeLending declined by $64.6 million, or 41%, from Q4 2021. Decreases in variable compensation were $46.5 million of this decrease, and other expenses declined as aggressive actions have been made to resize the organization towards a smaller overall mortgage market •HilltopSecuritiesgenerated a pre-tax income of $19.8 million during Q4 2022, an increase of $18.1 million from Q4 2021•Improvements in the fixed income market and higher revenues from sweep deposits in Wealth Management helped to offset slower public finance and mortgage markets during the period•Total non-interest expenses at HilltopSecuritiesdeclined by $5.6 million, or 6%, compared to Q4 2021. Decreases in variable compensation were $3.9 million of this decrease, and other expenses declined as the business has continued to identify areas to increase efficiency and productivity ROAA.86% EPS –Diluted$0.30 ROAE5.76%4.99 % $25. 6 $0.390. 6 3 % Net IncomeMM  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Highlights –Q4 2022 4 $24.77 $25.93 $26.93 $27.77 $28.37 $27.47 $27.08 $27.13 $27.31 18.97% 19.63% 20.22% 21.28% 21.22% 21.27% 17.24% 17.45% 18.22% $0.09 $0.12 $0.12 $0.12 $0.12 $0.15 $0.15 $0.15 $0.15 -20.00% 0.00% 20.00% $- $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 Q4 2020 Q1 2021 Q2 2021Q3 2021Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 Tangible Book Value Per Share (Tangible Common Equity / Shares Outstanding) Common Equity Tier 1 risk based ratio Dividends per share Capital Management and Tangible Book Value Growth TBVPS4% Versus12/31/215% CAGRSince 12/31/20•During 2022, HTH returned $485.3 million of capital to shareholders•$43.0 million in dividends and $442.3 million in share repurchases (~19% of 12/31/21 shares outstanding)•There were no shares repurchased in Q4 2022•The HTH Board of Directors has authorized a new $75 million stock repurchase program through January 2024•Hilltop also increased its quarterly cash dividend by 7% to $0.16 per share11Notes:(1)Tangible common equity and tangible book value per common share (TBVPS) are non-GAAP financial measures. For a reconciliation oftangible common equity and tangible book value per share to the nearest GAAP measure, see the appendix.(2)At period end.22  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5Hilltop Holdings –Q4 Financial Summary $ in Millions, except EPSIncome Statement and Key MetricsQ4 2022Q3 2022QoQ%Q4 2021YoY%Net interest income$123.4$123.5(0%)$104.318%Noninterest income169.8207.0(18%)284.8(40%) Noninterest expenses253.4288.7(12%)322.2(21%)Efficiency ratio86.4%87.4%82.8%Pre-provision net revenue139.941.7(4%)66.9(40%)Net charge offs (recoveries)($0.0)$2.7($0.4)Net ACL build (release)3.6(3.5)(18.2)Provision for (reversal of) credit losses3.6(0.8)NR(18.6)NR Income before income taxes36.242.5(15%)85.5(58%) Net income26.633.3(20%)64.8(59%)Minority interest1.01.2(14%)2.6(61%)Income attributable to Hilltop$25.6$32.1(20%)$62.2(59%)Return on average assets0.63%0.79%1.41% Return on average equity 4.99%6.26%9.93%EPS - Diluted$0.39$0.50(20%)$0.78(49%)EOP Shares outstanding (in thousands)64,68564, 5910%78,965(18%)Average assets $16,718$16, 6690%$18,255(8%)EOP Assets16,26816,615(2%)18,689(13%) EOP Loans HFI, net7, 9977,8522%7, 7893% EOP Deposits11,31611,352(0%)12,818(12%) Notes:(1)Pre-provision net revenue is calculated as the sum of net interest income and noninterest income less noninterest expense (except provision for loan losses).  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6Hilltop Holdings –Full Year Financial SummaryNotes:(1)Pre-provision net revenue is calculated as the sum of net interest income and noninterest income less noninterest expense (except provision for loan losses). $ in Millions, except EPS20222021Income Statement and Key MetricsActualsActualsYoY%Net interest income$459.0$423.09% Noninterest income832.51,410.3(41%) Noninterest expenses1,127.01,387.4(19%)Efficiency ratio87.3%75.7%Pre-provision net revenue1164.4445.9(63%)Net charge offs (recoveries)$4.2($0.5)Net ACL build / (release)4.1(57.7)Provision for (reversal of) credit losses8.3(58.2)(114%) Income from continuing operations, before taxes156.1504.1(69%) Net income119.3386.1(69%)Minority interest$6.211.6(47%)Income attributable to Hilltop$113.1$374.5(70%)Return on average assets0.69%2.17% Return on average equity 5.11%15.38%EPS - Diluted$1.60$4.61(65%)EOP Shares outstanding (in thousands)64,68578,965(18%)Average assets $17,411$17,796(2%)EOP Assets16,26818,689(13%)EOP Loans HFI, net7, 9977,7893%EOP Deposits11,31612,818(12%)  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91.4$91.2$95.3$91.8$95.4$5.0($0.0)($0.5)($0.9) 1.16% 1.17% 1.20% 1.16% 1.18%0.00%0.50% 1.00%1.50%2.00% 2.50%3.00%3.50%4.00%$0.0$20.0$40.0 $60.0 $80.0$100.0 $120.012/31/20213/31/20226/30/20229/30/2022Collective - EconomicConditionsNet Charge-OffSpecific ReservesCollective - PortfolioChanges12/31/2022 7Hilltop Holdings –Allowance for Credit Losses Allowance for Credit Losses at Period End 12/31/22 Reserve Composition($ in millions)ACL / Total Loans HFI Commentary•Applied Moody's Analytics December 2022 single macroeconomic alternative (S7) scenario for economic forecast•Reserve builds (releases) driven by new loan production, credit migration, higher rates and slower expected GDP growth in 2023-2024•ACL % of Loans HFI excluding Broker dealer margin loans and mortgage warehouse loans equated to 1.27% as of December 31, 2022 ($ in millions)ReserveACL/Loans HFICommercial real estate$63.31.95%Commercial and industrial$15.91.11% Construction and land development$6.10.62% 1-4 family residential$9.30.53%Consumer$0.62.01%Broker-dealer$0.20.05%Mortgage warehouse lending$0.10.05%Total Reserve$95.41.18%  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g008.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44%2.36%2.75%3.19%3.23%1.00%1.50%2.00%2.50%3.00%3.50%4.00%4.50%Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 8Hilltop Holdings –Net Interest Income & Margin Net Interest Margin2 Net Interest Margin Rollforward Net Interest Income $104.3 $100.0 $112.1 $123.5 $123.4 $80.0 $85.0 $90.0 $95.0 $100.0 $105.0 $110.0 $115.0 $120.0 $125.0 $130.0Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 3.19%Loans HFI Yield Increase0.36% Yield on Cash and Due Balances0.18%Securities Portfolio Yield Increase0.11%Cost of Deposits(0.41%) Borrowings(0.12%)Other(0.08%)Q4 20223.23%Q3 2022 Key Drivers & Statistics Q4'21Q3'22Q4'22($ in millions, except as noted)HTH Consolidated Average Earning Assets ($B)$17.0$15.4$15.2Banking Accretion Income$4.7$2.9$2.2PPP Balance (period end)$78$1$0PPP Interest & Fee Income$2.5$0.2$0.0 Cash and Due (Avg. Balance)$2,628$1,796$1,791Mortgage Loans Held for Sale (period end)$1,878$1,004$983 ($ in millions)  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g009.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9Hilltop Holdings –Net Interest Income Rate Impacts (6%)(3%)3%6%-10%-5%0%5%10%-100-50+50+100Interest Rate Change (Basis Points) Estimated Impact on 12-month Net Interest Income1Note:(1)Impact assumes instantaneous change to interest rates. Assumes interest rate floor at 1 basis point Bank Loans HFI –Fixed vs. Variable Rate at 12/31/22 Cash and Securities at PCB –Fixed vs Variable Interest Bearing Deposit and Fed Funds Rate•Q1 2016 through Q4 2022 Fed and HTH Deposit Rates 50%10%40% Fixed Rate Variable rate at or belowfloors Variable rate above floor Chart does not include Loan Balances for the PrimeLending Warehouse Line and National Warehouse Lending segments  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g010.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$192.3 $143.2 $140.1 $98.2 $71.4 $82.9 $60.7 $87.7 $100.8 $92.8 $11.8 $12.8 $12.5 $12.2 $11.9 ($2.2)($0.2)($0.9)($4.2)($6.3)$284.8 $216.4 $239.3 $207.0 $169.8 $(10.0) $40.0 $90.0 $140.0 $190.0 $240.0 $290.0 $340.0 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Corporate, other and eliminations PlainsCapital Bank HilltopSecurities PrimeLending 10Hilltop Holdings –Noninterest Income Year-over-Year Noninterest Income ($MM) Noninterest Income Key Drivers & Statistics($ in millions) Q4 2021$284.8Mortgage Production Income & Fees(120.9) Securities and Investment Advisory Fees & Commissions(11.8)Other Income17.7Q4 2022$169.8 Q4'21Q3'22Q4'22Broker Dealer TBA Lock Volume ($mm)$1,516$1,301$675Mortgage Origination Volume ($B)$5.0$3.0$2.0 Net gains from mortgage loan sales (bps):Loans sold to third parties362227211 Impact of loans sold to bank(15)(9)(19)As reported347218192  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g011.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$213.0$203.5$204.5$201.9$194.6$109.1$82.9$94.0$86.9$58.8$322.2$286.4$298.5$288.7$253.482.8%90.5%85.0%87.4%86.4%Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 Variable Compensation Expenses Other Than Variable Compensation Efficiency Ratio 11Hilltop Holdings –Noninterest Expenses Year-over-Year Noninterest Expense ($MM) Noninterest Expenses and Efficiency Ratio Key Drivers & StatisticsNote:(1)Efficiency Ratio is calculated as noninterest expense divided by the sum of net interest income and noninterest income. 1($ in millions) Q4 2021$322.2Compensation and Benefits(61.8) Occupancy and Equipment(2.7)Professional Services1.7Other Expenses(6.0)Q4 2022$253.4 Q4'21Q3'22Q4'22Banking Full-Service Branches585959Efficiency Ratio (Bank Only)54.2%48.9%48.9%Mortgage Variable Compensation ($mm)$73.2$44.3$26.7Variable Comp / Originated Volume1.47%1.46%1.31% Efficiency Ratio (PrimeLending Only)83.4%124.2%138.2%Broker-Dealer Variable Compensation ($mm)$35.9$42.6$32.0Compensation / Net Revenue 69.1%61.5%56.6%  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g012.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23%17%20%12%22%5% CRE - Non-owner occupied CRE - Owner occupied Commercial and industrial Construction and land development 1-4 family residential & Consumer Margin loans at Broker-Dealer $5.8 $5.9 $6.1 $6.1 $6.1 $0.7 $0.5 $0.5 $0.4 $0.4 $0.9 $1.0 $1.1 $1.2 $1.3 $0.4 $0.3 $0.3 $0.2 $0.2 $7.9 $7.8 $7.9 $7.9 $8.1 Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 Mortgage Warehouse Lending 1 - 4 Family PrimeLending Retained Mortgages Broker-Dealer Loans All Other Loans 12Notes: (1) 1-4 Family PrimeLending Retained Mortgages are loans purchased at par by PlainsCapital Bank from PrimeLending. These areexclusive of the 1-4 family residential mortgages originated through PlainsCapital Bank. The sum of the period amounts may not equal the total amounts due to rounding. Loan Mix at Period EndHilltop Holdings –Loans Key Drivers & Statistics Q4'21Q3'22Q4'22Average Loans HFI Balance ($B)$7.7$7.9$7.8 Annualized Loan HFI Yield %4.25%4.75%5.42% Gross Loans HFI by Type at 12/31/22($ in billions)1  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g013.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8x2.1x2.7x2.6x3.1x 1.28% 1.25% 1.27% 1.21% 1.24%0.00%0.50%1.00%1.50% 2.00%1.0x1.5x2.0x2.5x3.0x3.5x4.0x4.5x5.0xQ4 2021Q1 2022Q2 2022Q3 2022Q4 2022 ACL/Bank NPLs ACL/Bank Loans HFI (405)282 1,223 2,735 (21) -0.01% 0.02% 0.07% 0.15% -0.00%-1.00%-0.80% -0.60% -0.40% -0.20% 0.00% 0.20%0.40%(1000)01, 0002,0003, 0004,0005,000Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022($000) NCOs NCOs/Avg. Bank Loans HFI 3.3%2.8%2.5%2.6%2.6%0.1%3.3%2.8%2.5%2.7%2.6%0.0%1.0%2.0%3.0%4.0%5.0%Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022% of Bank Loans Classified Special Mention $53,982 $46,449 $37,197 $36,260 $32,645 0.76% 0.64% 0.50% 0.48% 0.43%0.00%0.25%0.50% 0.75%1.00%$0$25,000$50,000$75,000Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 Total NPAs Total NPAs/(Bank Loans HFI + OREO) 13Hilltop Holdings –Asset Quality Criticized Loans Non-Performing AssetsNotes: The sum of the period amounts may not equal the total amounts due to rounding. Figures represent bank asset quality metrics only (excludes Loans HFS and Broker Dealer Margin Loans). (1) Total NPAs included non-accrual loans, accruing TDRs, OREO and other repossessed assets. Net Charge-Offs (Recoveries) Allowance for Credit Losses11  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g014.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7.2 $7.0 $6.4 $6.1 $6.2 $4.6 $4.7 $4.6 $4.5 $4.0 $0.8 $0.8 $0.8 $0.7 $1.1 $0.2 $0.2 $0.1 $12.8 $12.7 $11.9 $11.4 $11.3 Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 Interest-Bearing Deposits Noninterest-Bearing Deposits Broker Dealer Sweep Deposits Brokered Deposits 14 Deposit Mix at Period EndHilltop Holdings –Deposits Key Drivers & Statistics Q4'21Q3'22Q4'22Average Deposits ($B)$12.4$11.7$11.4Cost of Interest-Bearing Deposits10.22%0.70%1.57%Cost of Total Deposits10.14%0.43%0.98% Interest-Bearing Deposits by Type at 12/31/22($ in billions) 56%28%12%4% Demand Money Market Time OtherNotes: The sum of the period amounts may not equal the total amounts due to rounding.(1)Annualized. (2)Other includes Savings and Brokered Deposits2  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g015.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15Hilltop Holdings –2023 Outlook OutlookLoan Growth (Full year average HFI loan growth)•Full year average bank loan growth 1% –4%•Retention of 1 –4 family loans to be evaluated quarterly, first quarter expecting to retain $75 –$150 millionDeposit Growth(Full year average deposit growth)•Full year average total deposits decline 4% –8%Net Interest Income •NII growth 7% –10% •Interest-Bearing Deposit Betas rise to 50% –60%•Fed Funds Rate rises to 5.00% –5.25%, no rate reductions in 2023Noninterest Income•Full year mortgage origination volume $8 –$12 billion•Broker Dealer fees increase 0% –5%Noninterest Expense•Non-variable expenses increase 0 –3%•Variable expenses to follow revenue contribution from fee businessesProvision Expense / (Reversal)•Full year provision/ total loans HFI: 25 –40 basis pointsEffective Tax Rate (GAAP)•22 –24% full year basis  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g016.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appendix 16  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g017.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54.2% 55.7% 50.4% 48.9% 48.9%Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 2.81% 2.65% 2.97% 3.42% 3.42%Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022PlainsCapital Bank –HighlightsQ4 2022 17 Efficiency Ratio1Notes:(1)Efficiency Ratio is calculated as noninterest expense divided by the sum of net interest income and noninterest income. Net Interest Margin Key HighlightsQ4 2021Q4 2022FY 2021FY 2022ROAA1.44%1.31%1.55%1.19%Full Service Branches (period end)58595859Net Interest Margin 2.81%3.42%3.07%3.11%Assets ($B) (period end)$14.9$13.4$14.9$13.4 Summary Results($ in millions)Q4 2021Q4 2022FY 2021FY 2022Net Interest Income$97.2$109.3$406.5$413.6Provision for (reversal of) Credit Losses (18.5)3.9 (58.2)8.3Noninterest Income11.811.945.149.3Noninterest Expense59.059.3226.9235.2Income Before Taxes$68.4$58.0$282.9$219.5  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g018.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18PrimeLending –Highlights Gain on Sale OverviewNotes:(1)Gain on Sale calculated as net gains from sale of loans divided by sales volume. Reported Gain on Sale reflects impact of loans retained by PlainsCapital Bank1 Mortgage Origination Volume $5.0 $3.8 $3.8 $3.0 $2.0 Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022 347312253218192362321260227211Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022050100 150 200 250 300 350 400 Reported Gain on Sale (bps) Gain on Sale of Loans Sold to Third Parties (bps) ($ in billions)Q4 2022 Summary Results($ in millions)Q4 2021Q4 2022FY 2021FY 2022Net Interest Income (Expense)($3.8)($4.5)($20.4)($10.5)Noninterest Income192.371.4987.0452.9 Noninterest Expense157.292.5731.1478.9Income (Loss) Before Taxes$31.3($25.6)$235.5($36.5) Key HighlightsQ4 2021Q4 2022FY 2021FY 2022Origination Volume ($mm)$4,990$2,043$22,668$12,660% Purchase71%93%64%85% Sales Volume ($mm)$4,989$2,039$23,059$13,200MSR Asset ($mm)(period end)$87$101$87$101  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g019.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HilltopSecurities–HighlightsQ4 2022 19Notes:The sum of the period amounts may not equal the total amounts due to rounding. Presented net revenue by business line may differslightly from 10-K due to grouping of certain business lines into 'Other'. Net Revenues by Business Line Summary Results($ in millions)Q4 2021Q4 2022FY 2021FY 2022Net Interest Income$11.7$14.1$43.3$51.6 Provision for (Reversal of) Credit Losses(0.1)(0.3)(0.0)0.1Noninterest Income82.992.8381.1341.9 Noninterest Expense93.087.4380.8355.7Income Before Taxes$1.7$19.8$43.7$37.8 Key HighlightsQ4 2021Q4 2022FY 2021FY 2022Compensation/Net Revenue (%)69.1%56.6%65.1%63.8%Pre-tax Margin %1.8%18.5%10.3%9.6%FDIC Insured Balances at PCB (period end)$804$1,122$804$1,122Other FDIC Insured Balances (period end)$1,503$696$1,503$696Public Finance Offerings$14,836$5,033$59,930$38,952TBA Lock Volume$1,516$675$7,008$3,764 Key HighlightsQ4 2021Q4 2022FY 2021FY 2022Public Finance Services$31.1$21.9110.088.2Fixed Income Services13.725.973.372.8Wealth ManagementRetail26.528.0108.3112.0Clearing Services8.011.931.738.2 Securities Lending1.91.010.75.9Structured Finance12.611.685.466.0Other0.86.55.010.4 Net Revenues$94.6$106.9$424.5$393.5  |

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| &nbsp;&nbsp;![GRAPHIC](hth-20230126xex99d1g020.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20Non-GAAP to GAAP Reconciliation and Management's Explanation of Non-GAAP Financial Measures •Hilltop ConsolidatedTangible Common Equity, is a non-GAAP financial measure. Tangible common equity is defined as our total stockholders' equity, excluding preferred stock, reduced by goodwill and other intangible assets. This is a measure used by management, investors and analysts to assess use of equity. Tangible book value per share, or TBVPS, is a non-GAAP financial measure. TBVPS represents Hilltop's tangible common equity at period-end divided by common shares outstanding at period-end. This is a measure used by management, investors and analysts to assess use of equity. Reconciliation of Tangible Common Equity and Tangible Book Value Per Share ($'000, except per share amounts)12/31/20203/31/20216/30/20219/30/202112/31/20213/31/20226/30/20229/30/202212/31/2022Total Stockholders' Equity$2,323,939$2,419,185$2,470,281$2,476,371$2,522,668$2,463,933$2,029,577$2,031,811$2,045,494Less:Goodwill267,447267,447267,447267,447267,447267,447267,447267,447267,447Other intangible assets, net20,36419,03517,70516,45515,28414,23313,18212,20911,317Tangible Common Equity$2,036,128$2,132,703$2,185,129$2,192,469$2,239,937$2,182,253$1,748,948$1,752,155$1,766,730Shares outstanding as of period end82,18582,26181,15378,95978,96579,43964,57664,59164,685 Book Value Per Share (Common Stockholder's Equity / Shares Outstanding)$28.28$29.41$30.44$31.36$31.95$31.02$31.43$31.46$31.62 Tangible Book Value Per Share (Tangible Common Equity / Shares Outstanding)$24.77$25.93$26.93$27.77$28.37$27.47$27.08$27.13$27.31  |

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