Today, Hilltop Holdings Inc. has released its 10-K report, leading to a 2.1% movement in the company's shares, which are now trading at $30.84.
Hilltop Holdings Inc. operates through three segments: Banking, Broker-Dealer, and Mortgage Origination. The Banking segment offers various banking services, including savings, checking, and money market accounts, as well as loans for various purposes. The Broker-Dealer segment provides investment banking and financial services, and the Mortgage Origination segment offers different types of mortgage loans.
Hilltop reported that its company's net interest income increased from $422.98 million in 2021 to $466.85 million in 2023. However, the total noninterest income decreased from $1.41 billion in 2021 to $728.97 million in 2023. The total noninterest expense also decreased from $1.39 billion in 2021 to $1.03 billion in 2023.
The company's income before income taxes decreased from $504.07 million in 2021 to $149.12 million in 2023. Net income attributable to Hilltop decreased from $374.50 million in 2021 to $109.65 million in 2023.
The diluted earnings per common share decreased from $4.61 in 2021 to $1.69 in 2023. The book value per common share increased from $31.95 in 2021 to $32.58 in 2023, while the tangible book value per common share also increased from $28.37 in 2021 to $28.35 in 2023.
Hilltop's total assets decreased from $18.69 billion in 2021 to $16.47 billion in 2023, and the total deposits decreased from $12.82 billion in 2021 to $11.06 billion in 2023.
For more information, you can read the company's full 10-K submission here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $574,623 | $610,696 | $546,495 | $529,973 | $591,116 | $801,582 |
| Revenue Growth | n/a | 6.28% | -10.51% | -3.02% | 11.54% | 35.6% |
| Interest Income (k) | $433,299 | $438,979 | $424,166 | $422,982 | $458,975 | $479,063 |
| Operating Margins | 27% | 46% | 103% | 95% | 26% | 18% |
| Net Margins | 21% | 37% | 82% | 71% | 19% | 13% |
| Net Income (k) | $121,441 | $225,291 | $447,836 | $374,495 | $113,134 | $106,531 |
| Depreciation & Amort. (k) | $30,800 | $27,300 | $27,900 | $28,400 | $26,800 | $27,685 |
| Earnings Per Share | $1.28 | $2.44 | $5.01 | $4.61 | $1.6 | $1.64 |
| EPS Growth | n/a | 90.62% | 105.33% | -7.98% | -65.29% | 2.5% |
| Diluted Shares (k) | 95,067 | 92,394 | 89,304 | 81,173 | 70,626 | 65,108 |
| Free Cash Flow (k) | $321,814 | -$475,310 | $242,690 | $740,871 | $1,179,650 | $124,994 |
| Capital Expenditures | $67,726 | $42,287 | $37,746 | $24,751 | $9,798 | $8,553 |
