Strong Net Income and Return on Equity
Hilltop reported net income of $46 million or $0.74 per diluted share, with a return on average equity of 8.35%.
PlainsCapital Bank Performance
PlainsCapital Bank generated $55 million of pretax income with a return on average assets of 1.34%. Net interest margin increased by 7 basis points.
HilltopSecurities Strong Performance
HilltopSecurities generated pretax income of $26.5 million on net revenues of $144.5 million, with a pretax margin of 18%. Public Finance Services produced a 28% year-over-year increase in net revenues.
Capital and Shareholder Returns
Common equity Tier 1 capital ratio of 20%, with $11 million returned to stockholders through dividends and $55 million in share repurchases.
Improvement in Asset Quality
A $2.6 million reversal of credit losses was driven by improved asset quality and stronger economic conditions.