Hilltop Holdings Inc. has recently released its 10-Q report, providing a detailed overview of its financial performance and operations. The company, headquartered in Dallas, Texas, operates through three segments: Banking, Broker-Dealer, and Mortgage Origination. Hilltop offers a range of financial products and services, including traditional banking, wealth and investment management, residential mortgage loans, and investment banking services.
In the 10-Q report, Hilltop Holdings Inc. reported net interest income of $105.1 million for the three months ended March 31, 2025, compared to $103.6 million for the same period in 2024. The provision for credit losses was $9.3 million, while the total noninterest income was $213.3 million, up from $181.6 million in the prior year. The company's total noninterest expense was $251.5 million, slightly higher than the $250.0 million reported in the previous year.
The report also highlighted the income contributions from each of the company's business segments. The banking segment contributed $40.1 million, the broker-dealer segment contributed $9.2 million, and the mortgage origination segment incurred losses of $8.3 million before income taxes during the three months ended March 31, 2025.
Additionally, Hilltop Holdings Inc. declared and paid total common dividends of $11.6 million during the first quarter of 2025. The company's board of directors also declared a quarterly cash dividend of $0.18 per common share, payable on May 22, 2025.
In terms of capital management, Hilltop authorized a new stock repurchase program through January 2026, allowing the repurchase of up to $100.0 million of outstanding common stock. During the first quarter of 2025, the company paid $33.3 million to repurchase an aggregate of 1,046,540 shares of its common stock at an average price of $31.80 per share.
Furthermore, the 10-Q report included the reconciliation and management's explanation of non-GAAP financial measures. It provided details on tangible book value per common share and tangible common equity to tangible assets, offering insights for investors interested in changes from period to period in tangible common equity per share exclusive of changes in intangible assets.
The report also outlined recent developments, including the redemption of all outstanding 5% senior notes due 2025 and a merchant bank transaction that resulted in a preliminary pre-tax gain of $30.5 million during the first quarter of 2025.
The market has reacted to these announcements by moving the company's shares 0.2% to a price of $29.02. Check out the company's full 10-Q submission here.
