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	Investor Relations Contact:
	Matt Dunn
	214-525-4636
	mdunn@hilltop.com

Hilltop Holdings Inc. Announces Financial Results for Third Quarter 2025

DALLAS — (BUSINESS WIRE) October 23, 2025 — Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced financial results for the third quarter of 2025. Hilltop produced income to common stockholders of $45.8 million, or $0.74 per diluted share, for the third quarter of 2025, compared to $29.7 million, or $0.46 per diluted share, for the third quarter of 2024. Hilltop’s financial results for the third quarter, compared with the same period in 2024, primarily included increases in the reversal of credit losses and net interest income and a decrease in noninterest expense within the banking segment, net revenues and noninterest expenses increased within the broker-dealer segment, and the mortgage origination segment had declines in noninterest income, noninterest expense and net interest expense.

Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $0.18 per common share payable on November 21, 2025, to all common stockholders of record as of the close of business on November 7, 2025. Additionally, during the third quarter of 2025, Hilltop paid $55.1 million to repurchase an aggregate of 1,701,274 shares of its common stock at an average price of $32.36 per share pursuant to the 2025 stock repurchase program. These shares were returned to the pool of authorized but unissued shares of common stock.

Furthermore, in October 2025, the Hilltop Board of Directors authorized an increase to the aggregate amount of common stock that Hilltop may repurchase under the aforementioned stock repurchase program to $185.0 million, an increase of $50.0 million. As a result of share repurchases during 2025, Hilltop has approximately $62 million of available share repurchase capacity through the expiration of the 2025 stock repurchase program in January 2026.

The extent of the impact of uncertain economic conditions on our financial performance during the remainder of 2025 will depend in part on developments outside of our control, including, among others, the timing and significance of further changes in U.S. Treasury yields and mortgage interest rates, changes in funding costs, inflationary pressures, changes in the political environment, the impact of tariffs and reciprocal tariffs, and international armed conflicts and their impact on supply chains.

Jeremy B. Ford, Chairman, President and CEO of Hilltop, said, “Hilltop delivered a 1.2% return on average assets during the third quarter on net income of $46 million. Within PlainsCapital Bank, strong core loan and deposit growth on a linked-quarter basis, along with healthy net interest margin expansion, generated $55 million in pre-tax income during the third quarter. A dampened summer home-buying market weighed down PrimeLending’s operating results as the company produced a pre-tax loss of $7 million on flat year-over-year origination volumes and depressed origination fees. We continue to actively manage down fixed expenses within our mortgage origination business. Additionally, robust results within all business lines at HilltopSecurities resulted in a pre-tax margin of 18% on net revenues of $144 million.

“Further, Hilltop Holdings returned $66 million to stockholders via $11 million in quarterly dividends and $55 million in repurchases of Hilltop shares. As we close out 2025, we are working diligently to implement and execute strategic plans for 2026 that will continue to prioritize serving our clients and creating long-term stockholder value.”

Third Quarter 2025 Highlights for Hilltop:

●

The reversal of credit losses was $2.5 million during the third quarter of 2025, compared to a reversal of credit losses of $7.3 million in the second quarter of 2025 and a reversal of credit losses of $1.3 million in the third quarter of 2024;

o

The reversal of credit losses during the third quarter of 2025 was primarily driven by changes in the U.S. economic outlook associated with collectively evaluated loans and loan portfolio changes, including changes in loan mix and risk rating grade migration, within the banking segment, partially offset by a build in the allowance related to specific reserves, since the prior quarter.

●

For the third quarter of 2025, net gains from sale of loans and other mortgage production income and mortgage loan origination fees was $76.6 million, compared to $79.9 million in the third quarter of 2024, a 4.2% decrease;

o

Mortgage loan origination production volume was $2.3 billion during the third quarter of 2025, compared to $2.3 billion during the third quarter of 2024;

o

Net gains from mortgage loans sold to third parties, including broker fee income, increased to 239 basis points during the third quarter of 2025, compared to 233 basis points in the second quarter of 2025.

●

Hilltop’s consolidated annualized return on average assets and return on average stockholders’ equity for the third quarter of 2025 were 1.20% and 8.35%, respectively, compared to 0.84% and 5.51%, respectively, for the third quarter of 2024;

●

Hilltop’s book value per common share increased to $35.69 at September 30, 2025, compared to $34.90 at June 30, 2025;

●

Hilltop’s total assets were $15.6 billion and $15.4 billion at September 30, 2025 and June 30, 2025, respectively;

●

Loans¹, net of allowance for credit losses, were $7.8 billion and $7.6 billion at September 30, 2025 and June 30, 2025, respectively;

●

Non-accrual loans were $68.3 million, or 0.75% of total loans, at September 30, 2025, compared to $72.7 million, or 0.80% of total loans, at June 30, 2025;

●

Loans held for sale decreased by 13.3% from June 30, 2025 to $849.4 million at September 30, 2025;

●

Total deposits were $10.7 billion and $10.4 billion at September 30, 2025 and June 30, 2025, respectively;

o

Total estimated uninsured deposits were $5.7 billion, or approximately 54% of total deposits, while estimated uninsured deposits, excluding collateralized deposits of $592.1 million and internal accounts of $370.2 million, were $4.8 billion, or approximately 45% of total deposits, at September 30, 2025.

●

Hilltop maintained strong capital levels with a Tier 1 Leverage Ratio² of 13.13% and a Common Equity Tier 1 Capital Ratio of 20.33% at September 30, 2025;

●

Hilltop’s consolidated net interest margin³increased to 3.06% for the third quarter of 2025, compared to 3.01% in the second quarter of 2025;

●

For the third quarter of 2025, noninterest income was $217.8 million, compared to $200.4 million in the third quarter of 2024, an 8.7% increase;

●

For the third quarter of 2025, noninterest expense was $271.9 million, compared to $264.3 million in the third quarter of 2024, a 2.9% increase; and

●

Hilltop’s effective tax rate was 23.2% during the third quarter of 2025, compared to 22.5% during the same period in 2024.

o

The effective tax rate for the third quarter of 2025 was higher than the applicable statutory rate primarily due to the impact of nondeductible compensation expense, other nondeductible expenses and other permanent adjustments, partially offset by investments in tax-exempt instruments.

¹ “Loans” reflect loans held for investment excluding broker-dealer margin loans, net of allowance for credit losses, of $325.3 million and $329.4 million at September 30, 2025 and June 30, 2025, respectively.

² Based on the end of period Tier 1 capital divided by total average assets during the quarter, excluding goodwill and intangible assets.

³ Net interest margin is defined as net interest income divided by average interest-earning assets.

Consolidated Financial and Other Information


Consolidated Balance Sheets	September 30,		June 30,		March 31,		December 31,		September 30,
(in 000's)	2025		2025		2025		2024		2024
Cash and due from banks	$	1,277,283	$	982,488	$	1,702,623	$	2,298,977	$	1,961,627
Federal funds sold		650		650		650		650		3,650
Assets segregated for regulatory purposes		5,050		47,158		88,451		70,963		55,628
Securities purchased under agreements to resell		78,909		93,878		99,099		88,728		81,766
Securities:
Trading, at fair value		574,434		675,757		647,158		524,916		540,836
Available for sale, at fair value, net ⁽¹⁾		1,443,612		1,408,347		1,405,170		1,396,549		1,405,700
Held to maturity, at amortized cost, net ⁽¹⁾		755,012		771,641		762,369		737,899		754,824
Equity, at fair value		248		4,996		286		297		287
		2,773,306		2,860,741		2,814,983		2,659,661		2,701,647
Loans held for sale		849,357		979,875		818,328		858,665		933,724
Loans held for investment, net of unearned income		8,227,194		8,061,204		7,966,777		7,950,551		7,979,630
Allowance for credit losses		(95,168)		(97,961)		(106,197)		(101,116)		(110,918)
Loans held for investment, net		8,132,026		7,963,243		7,860,580		7,849,435		7,868,712

Broker-dealer and clearing organization receivables		1,519,005		1,469,628		1,450,077		1,452,366		1,220,784
Premises and equipment, net		136,830		139,179		143,957		148,245		157,803
Operating lease right-of-use assets		87,464		88,050		93,451		90,563		92,041
Mortgage servicing assets		12,273		7,887		6,903		5,723		45,742
Other assets		459,588		455,930		459,774		470,073		528,839
Goodwill		267,447		267,447		267,447		267,447		267,447
Other intangible assets, net		5,862		6,119		6,376		6,633		6,995
Total assets	$	15,605,050	$	15,362,273	$	15,812,699	$	16,268,129	$	15,926,405

Deposits:
Noninterest-bearing	$	2,766,155	$	2,790,958	$	2,859,828	$	2,768,707	$	2,831,539
Interest-bearing		7,909,316		7,600,599		7,972,138		8,296,615		7,959,908
Total deposits		10,675,471		10,391,557		10,831,966		11,065,322		10,791,447
Broker-dealer and clearing organization payables		1,445,280		1,461,683		1,446,886		1,331,902		1,110,373
Short-term borrowings		680,979		734,508		705,008		834,023		914,645
Securities sold, not yet purchased, at fair value		65,119		59,766		63,171		57,234		47,773
Notes payable		148,530		148,475		198,043		347,667		347,533
Operating lease liabilities		104,134		104,972		110,815		109,103		110,799
Other liabilities		269,297		234,467		227,988		304,566		397,976
Total liabilities		13,388,810		13,135,428		13,583,877		14,049,817		13,720,546

Common stock		613		630		642		650		650
Additional paid-in capital		998,644		1,022,474		1,037,138		1,052,219		1,050,497
Accumulated other comprehensive loss		(87,254)		(94,748)		(100,654)		(111,497)		(98,168)
Retained earnings		1,276,539		1,270,286		1,262,586		1,248,593		1,224,117
Total Hilltop stockholders' equity		2,188,542		2,198,642		2,199,712		2,189,965		2,177,096
Noncontrolling interests		27,698		28,203		29,110		28,347		28,763
Total stockholders' equity		2,216,240		2,226,845		2,228,822		2,218,312		2,205,859
Total liabilities & stockholders' equity	$	15,605,050	$	15,362,273	$	15,812,699	$	16,268,129	$	15,926,405

(1)

At September 30, 2025, the amortized cost of the available for sale securities portfolio was $1,514,825, while the fair value of the held to maturity securities portfolio was $696,835.


	Three Months Ended
Consolidated Income Statements	September 30,		June 30,		March 31,		December 31,		September 30,
(in 000's, except per share data)	2025		2025		2025		2024		2024
Interest income:
Loans, including fees	$	135,773	$	131,793	$	124,692	$	131,726	$	139,821
Securities borrowed		21,175		20,544		15,809		17,492		19,426
Securities:
Taxable		25,452		25,811		24,782		29,212		26,265
Tax-exempt		3,512		3,087		2,613		2,944		2,438
Other		14,349		15,946		24,903		27,216		23,092
Total interest income		200,261		197,181		192,799		208,590		211,042

Interest expense:
Deposits		57,001		57,056		60,051		67,411		70,641
Securities loaned		19,430		17,662		14,736		16,407		18,499
Short-term borrowings		7,867		7,694		8,103		10,992		10,878
Notes payable		2,404		3,106		3,653		3,910		3,555
Other		1,171		989		1,139		4,386		2,426
Total interest expense		87,873		86,507		87,682		103,106		105,999

Net interest income		112,388		110,674		105,117		105,484		105,043
Provision for (reversal of) credit losses		(2,511)		(7,340)		9,338		(5,852)		(1,270)
Net interest income after provision for (reversal of) credit losses		114,899		118,014		95,779		111,336		106,313

Noninterest income:
Net gains from sale of loans and other mortgage production income		51,730		51,945		45,281		43,553		47,816
Mortgage loan origination fees		24,850		28,738		22,451		30,111		32,119
Securities commissions and fees		38,719		33,041		33,728		35,338		30,434
Investment and securities advisory fees and commissions		53,349		43,730		36,628		37,514		42,220
Other		49,159		35,180		75,252		49,074		47,854
Total noninterest income		217,807		192,634		213,340		195,590		200,443

Noninterest expense:
Employees' compensation and benefits		190,027		176,410		176,240		173,334		177,987
Occupancy and equipment, net		19,930		21,064		19,782		25,707		22,317
Professional services		12,681		10,820		4,114		12,791		11,645
Other		49,265		52,882		51,337		50,925		52,363
Total noninterest expense		271,903		261,176		251,473		262,757		264,312

Income before income taxes		60,803		49,472		57,646		44,169		42,444
Income tax expense		14,129		11,583		13,114		6,285		9,539
Net income		46,674		37,889		44,532		37,884		32,905
Less: Net income attributable to noncontrolling interest		856		1,816		2,416		2,365		3,212
Income attributable to Hilltop	$	45,818	$	36,073	$	42,116	$	35,519	$	29,693

Earnings per common share:
Basic	$	0.74	$	0.57	$	0.65	$	0.55	$	0.46
Diluted	$	0.74	$	0.57	$	0.65	$	0.55	$	0.46

Cash dividends declared per common share	$	0.18	$	0.18	$	0.18	$	0.17	$	0.17

Weighted average shares outstanding:
Basic		62,146		63,637		64,613		64,935		64,928
Diluted		62,168		63,638		64,615		64,943		64,946


	Three Months Ended September 30, 2025
Segment Results					Mortgage				All Other and		Hilltop
(in 000's)	Banking		Broker-Dealer		Origination		Corporate		Eliminations		Consolidated
Net interest income (expense)	$	96,846	$	12,662	$	(2,051)	$	443	$	4,488	$	112,388
Provision for (reversal of) credit losses		(2,621)		110		—		—		—		(2,511)
Noninterest income		11,001		131,832		76,608		3,081		(4,715)		217,807
Noninterest expense		55,778		117,912		81,791		16,672		(250)		271,903
Income (loss) before taxes	$	54,690	$	26,472	$	(7,234)	$	(13,148)	$	23	$	60,803


	Nine Months Ended September 30, 2025
Segment Results					Mortgage				All Other and		Hilltop
(in 000's)	Banking		Broker-Dealer		Origination		Corporate		Eliminations		Consolidated
Net interest income (expense)	$	282,315	$	37,381	$	(5,749)	$	(592)	$	14,824	$	328,179
Provision for (reversal of) credit losses		(592)		79		—		—		—		(513)
Noninterest income		33,703		325,271		234,631		45,832		(15,656)		623,781
Noninterest expense		166,934		320,488		241,187		56,848		(905)		784,552
Income (loss) before taxes	$	149,676	$	42,085	$	(12,305)	$	(11,608)	$	73	$	167,921


	Three Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,
Selected Financial Data	2025		2025		2025		2024		2024

Hilltop Consolidated:
Return on average stockholders' equity		8.35%		6.62%		7.82%		6.50%		5.51%
Return on average assets		1.20%		0.98%		1.13%		0.92%		0.84%
Net interest margin ⁽¹⁾		3.06%		3.01%		2.84%		2.72%		2.84%
Net interest margin (taxable equivalent) ⁽²⁾:
As reported		3.09%		3.04%		2.86%		2.74%		2.85%
Impact of purchase accounting		2 bps		2 bps		4 bps		3 bps		2 bps
Book value per common share ($)		35.69		34.90		34.29		33.71		33.51
Shares outstanding, end of period (000's)		61,326		63,001		64,154		64,968		64,960
Dividend payout ratio ⁽³⁾		24.41%		31.75%		27.62%		31.08%		37.17%

Banking Segment:
Net interest margin ⁽¹⁾		3.23%		3.16%		2.97%		2.98%		3.05%
Net interest margin (taxable equivalent)⁽²⁾:
As reported		3.23%		3.17%		2.97%		2.99%		3.06%
Impact of purchase accounting		2 bps		3 bps		3 bps		4 bps		3 bps
Accretion of discount on loans ($000's)		559		586		1,045		1,076		737
Net recoveries (charge-offs) ($000's)		(282)		(896)		(4,257)		(3,950)		(2,894)
Return on average assets		1.34%		1.35%		0.96%		1.24%		1.14%
Fee income ratio		10.2%		11.1%		10.7%		10.7%		10.3%
Efficiency ratio		51.7%		55.4%		51.2%		57.8%		55.2%
Employees' compensation and benefits ($000's)		31,925		32,146		34,102		33,313		31,920

Broker-Dealer Segment:
Net revenue ($000's) ⁽⁴⁾		144,494		109,653		108,505		126,367		124,258
Employees' compensation and benefits ($000's)		86,997		73,493		68,064		75,150		75,912
Variable compensation expense ($000's)		50,756		36,172		33,283		42,484		42,569
Compensation as a % of net revenue		60.2%		67.0%		62.7%		59.5%		61.1%
Pre-tax margin ⁽⁵⁾		18.3%		5.8%		8.5%		16.1%		13.7%

Mortgage Origination Segment:
Mortgage loan originations - volume ($000's):
Home purchases		2,027,568		2,168,690		1,528,560		1,909,706		2,096,009
Refinancings		269,136		263,829		213,781		343,400		211,454
Total mortgage loan originations - volume		2,296,704		2,432,519		1,742,341		2,253,106		2,307,463
Mortgage loan sales - volume ($000's)		2,220,126		2,135,291		1,744,555		2,065,356		2,569,678
Net gains from mortgage loan sales (basis points):
Loans sold to third parties ⁽⁶⁾		226		223		222		217		218
Broker fee income ⁽⁷⁾		13		10		10		9		6
Impact of loans retained by banking segment		(5)		(5)		(8)		(5)		—
As reported		234		228		224		221		224
Mortgage servicing rights asset ($000's) ⁽⁸⁾		12,273		7,887		6,903		5,723		45,742
Employees' compensation and benefits ($000's)		60,036		62,214		53,339		56,402		60,573
Variable compensation expense ($000's)		32,665		34,975		24,832		30,784		33,862

(1)	Net interest margin is defined as net interest income divided by average interest-earning assets.

(2)

Net interest margin (taxable equivalent), a non-GAAP measure, is defined as taxable equivalent net interest income divided by average interest-earning assets. Taxable equivalent adjustments are based on the applicable 21% federal income tax rate for all periods presented. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest margins for all earning assets, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. The taxable equivalent adjustments to interest income for Hilltop (consolidated) were $1.0 million, $0.8 million, $0.6 million, $0.7 million and $0.6 million, respectively, for the periods presented and for the banking segment were $0.3 million, $0.1 million, $0.2 million, $0.2 million and $0.2 million, respectively, for the periods presented.

(3)	Dividend payout ratio is defined as cash dividends declared per common share divided by basic earnings per common share.

(4)	Net revenue is defined as the sum of total broker-dealer net interest income and total broker-dealer noninterest income.

(5)	Pre-tax margin is defined as income before income taxes divided by net revenue.

(6)

Net gains from mortgage loans sold to third parties reflects provisions for anticipated indemnification claims and penalties for early payoff of loans which had the effect of lowering such net gains from mortgage loans sold to third parties by 9, 7, 17, 13 and 7 basis points, respectively, for the periods presented.

(7)	Broker fee income is earned by the mortgage origination segment for facilitating mortgage loan transactions between PrimeLending customers and third-party mortgage lenders when the requested loan products are not offered by PrimeLending.

(8)	Reported on a consolidated basis and therefore does not include mortgage servicing rights assets related to loans serviced for the banking segment, which are eliminated in consolidation.


	September 30,		June 30,		March 31,		December 31,		September 30,
Capital Ratios	2025		2025		2025		2024		2024
Tier 1 capital (to average assets):
PlainsCapital		10.74%		10.71%		10.22%		9.99%		10.34%
Hilltop		13.13%		13.11%		12.86%		12.57%		12.95%
Common equity Tier 1 capital (to risk-weighted assets):
PlainsCapital		14.81%		15.08%		15.06%		15.35%		14.94%
Hilltop		20.33%		20.74%		21.17%		21.23%		20.48%
Tier 1 capital (to risk-weighted assets):
PlainsCapital		14.81%		15.08%		15.06%		15.35%		14.94%
Hilltop		20.33%		20.74%		21.17%		21.23%		20.48%
Total capital (to risk-weighted assets):
PlainsCapital		15.96%		16.29%		16.31%		16.54%		16.13%
Hilltop		22.90%		23.38%		24.45%		24.40%		23.68%


	September 30,		June 30,		March 31,		December 31,		September 30,
Non-Performing Assets Portfolio Data	2025		2025		2025		2024		2024
Loans accounted for on a non-accrual basis ($000's):
Commercial real estate:
Non-owner occupied	$	3,969	$	4,107	$	4,241	$	7,166	$	8,042
Owner occupied		7,119		6,429		6,535		6,092		2,410
Commercial and industrial		41,457		40,990		51,987		59,025		66,929
Construction and land development		1,007		3,667		3,256		3,003		2,682
1-4 family residential		14,701		17,550		15,458		12,863		11,123
Consumer		—		—		—		—		—
Broker-dealer		—		—		—		—		—
Non-accrual loans ($000's)	$	68,253	$	72,743	$	81,477	$	88,149	$	91,186

Non-accrual loans as a % of total loans		0.75%		0.80%		0.93%		1.00%		1.02%

Other real estate owned ($000's)		8,289		9,144		7,682		2,848		2,744

Other repossessed assets ($000's)		—		—		—		98		413

Non-performing assets ($000's)		76,542		81,887		89,159		91,095		94,343

Non-performing assets as a % of total assets		0.49%		0.53%		0.56%		0.56%		0.59%

Loans past due 90 days or more and still accruing ($000's) ⁽¹⁾		28,388		28,378		24,145		22,090		140,763

(1)	Loans past due 90 days or more and still accruing were primarily comprised of loans held for sale and guaranteed by U.S. government agencies, including loans that are subject to repurchase, or have been repurchased, by PrimeLending.


	Three Months Ended September 30,
	2025						2024
	Average		Interest		Annualized		Average		Interest		Annualized
	Outstanding		Earned		Yield or		Outstanding		Earned		Yield or
Net Interest Margin (Taxable Equivalent) Details ⁽¹⁾	Balance		or Paid		Rate		Balance		or Paid		Rate
Assets
Interest-earning assets
Loans held for sale	$	905,623	$	14,331	6.19	%	$	990,902	$	14,645	5.91	%
Loans held for investment, gross ⁽²⁾		8,103,557		121,442	5.95	%		8,024,771		125,176	6.19	%
Investment securities - taxable		2,477,028		25,451	4.11	%		2,477,014		26,264	4.24	%
Investment securities - non-taxable ⁽³⁾		391,685		4,458	4.55	%		323,479		3,020	3.73	%
Federal funds sold and securities purchased under agreements to resell		71,359		958	5.32	%		97,686		1,845	7.49	%
Interest-bearing deposits in other financial institutions		1,061,807		11,430	4.27	%		1,373,051		17,800	5.14	%
Securities borrowed		1,423,476		21,175	5.82	%		1,260,420		19,426	6.03	%
Other		134,682		1,962	5.78	%		137,105		3,447	9.97	%
Interest-earning assets, gross ⁽³⁾		14,569,217		201,207	5.48	%		14,684,428		211,623	5.72	%
Allowance for credit losses		(97,992)						(115,113)
Interest-earning assets, net		14,471,225						14,569,315
Noninterest-earning assets		956,077						1,070,833
Total assets	$	15,427,302					$	15,640,148

Liabilities and Stockholders' Equity
Interest-bearing liabilities
Interest-bearing deposits	$	7,807,348	$	57,001	2.90	%	$	7,744,588	$	70,641	3.62	%
Securities loaned		1,407,765		19,430	5.48	%		1,247,392		18,499	5.88	%
Notes payable and other borrowings		934,201		11,442	4.86	%		1,333,671		16,859	5.02	%
Total interest-bearing liabilities		10,149,314		87,873	3.43	%		10,325,651		105,999	4.07	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		2,695,744						2,737,942
Other liabilities		377,444						405,768
Total liabilities		13,222,502						13,469,361
Stockholders’ equity		2,177,581						2,143,252
Noncontrolling interest		27,219						27,535
Total liabilities and stockholders' equity	$	15,427,302					$	15,640,148

Net interest income ⁽³⁾			$	113,334					$	105,624
Net interest spread ⁽³⁾					2.05	%					1.65	%
Net interest margin ⁽³⁾					3.09	%					2.85	%

(1)	Information presented on a consolidated basis (dollars in thousands).

(2)	Average balance includes non-accrual loans.

(3)

Presented on a taxable-equivalent basis with annualized taxable equivalent adjustments based on the applicable 21% federal income tax rate for the periods presented. The adjustment to interest income was $1.0 million and $0.6 million for the three months ended September 30, 2025 and 2024, respectively.

Conference Call Information

Hilltop will host a live webcast and conference call at 8:00 AM Central (9:00 AM Eastern) on Friday, October 24, 2025. Hilltop Chairman, President and CEO Jeremy B. Ford and Hilltop CFO William B. Furr will review third quarter 2025 financial results. Interested parties can access the conference call by dialing 800-549-8228 (Toll Free North America) or (+1) 289-819-1520 (International Toll) and then using the conference ID 98217. The conference call also will be webcast simultaneously on Hilltop’s Investor Relations website (http://ir.hilltop.com).

About Hilltop

Hilltop Holdings is a Dallas-based financial holding company. Its primary line of business is to provide business and consumer banking services from offices located throughout Texas through PlainsCapital Bank. PlainsCapital Bank’s wholly owned subsidiary, PrimeLending, provides residential mortgage lending throughout the United States. Hilltop Holdings’ broker-dealer subsidiaries, Hilltop Securities Inc. and Momentum Independent Network Inc., provide a full complement of securities brokerage, institutional and investment banking services in addition to clearing services and retail financial advisory. At September 30, 2025, Hilltop employed approximately 3,600 people and operated 312 locations in 47 states. Hilltop Holdings’ common stock is listed on the New York Stock Exchange under the symbol “HTH.” Find more information at Hilltop.com, PlainsCapital.com, PrimeLending.com and Hilltopsecurities.com.

FORWARD-LOOKING STATEMENTS

This press release contains 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 plans, objectives, strategies, expectations, intentions and other statements that are not statements of historical fact, and may be identified by words such as “aim,” “anticipates,” “believes,” “building,” “continue,” “could,” “drive,” “estimates,” “expects,” “extent,” “focus,” “forecasts,” “goal,” “guidance,” “intends,” “may,” “might,” “outlook,” “plan,” “position,” “probable,” “progressing,” “projects,” “prudent,” “seeks,” “should,” “steady,” “target,” “view,” “will,” “working” 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 materially from those set forth in the forward-looking statements: (i) the credit risks of lending activities, including our ability to estimate credit losses and 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 and any legal, reputational and financial risks following a cybersecurity incident; (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 concentration in real estate related loans; (vi) the effects of indebtedness on our ability to manage our business successfully, including the restrictions imposed by the indenture governing our indebtedness; (vii) disruptions to the economy and financial services industry, risks associated with uninsured deposits and responsive measures by federal or state governments or banking regulators, including increases in the cost of our deposit insurance assessments; (viii) cost and availability of capital; (ix) changes in state and federal laws, regulations or policies affecting one or more of our business segments, including changes in policies under the new Presidential administration, changes in regulatory fees, deposit insurance premiums, capital requirements and the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”); (x) changes in key management; (xi) 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; (xii) legal and regulatory proceedings; (xiii) risks associated with merger and acquisition integration; and (xiv) 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 subsequent Quarterly Reports on Form 10-Q and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.

Source: Hilltop Holdings Inc.