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Selected Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2013
Selected Quarterly Financial Information (Unaudited)  
Schedule of quarterly financial information

Selected quarterly financial information is summarized as follows (in thousands, except per share data).

 

 

 

Year Ended December 31, 2013

 

 

 

 

 

Fourth

 

Third

 

Second

 

First

 

Full

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Year

 

 

 

 

 

(revised)

 

 

 

 

 

 

 

Interest income

 

$

98,601

 

$

79,702

 

$

76,168

 

$

74,604

 

$

329,075

 

Interest expense

 

10,002

 

7,786

 

7,743

 

7,343

 

32,874

 

Net interest income

 

88,599

 

71,916

 

68,425

 

67,261

 

296,201

 

Provision for loan losses

 

2,206

 

10,658

 

11,289

 

13,005

 

37,158

 

Noninterest income

 

182,479

 

215,095

 

239,233

 

213,278

 

850,085

 

Noninterest expense

 

219,752

 

216,592

 

260,400

 

214,991

 

911,735

 

Income before income taxes

 

49,120

 

59,761

 

35,969

 

52,543

 

197,393

 

Income tax provision

 

18,090

 

20,115

 

13,309

 

19,170

 

70,684

 

Net income

 

31,030

 

39,646

 

22,660

 

33,373

 

126,709

 

Less: Net income attributable to noncontrolling interest

 

160

 

339

 

568

 

300

 

1,367

 

Income attributable to Hilltop

 

$

30,870

 

$

39,307

 

$

22,092

 

$

33,073

 

$

125,342

 

Dividends on preferred stock

 

1,342

 

1,133

 

1,149

 

703

 

4,327

 

Income applicable to Hilltop common stockholders

 

$

29,528

 

$

38,174

 

$

20,943

 

$

32,370

 

$

121,015

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.34

 

$

0.45

 

$

0.25

 

$

0.39

 

$

1.43

 

Diluted

 

$

0.34

 

$

0.43

 

$

0.24

 

$

0.39

 

$

1.40

 

 

 

 

Year Ended December 31, 2012

 

 

 

 

 

Fourth

 

Third

 

Second

 

First

 

Full

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Year

 

Interest income

 

$

28,954

 

$

3,379

 

$

3,349

 

$

3,356

 

$

39,038

 

Interest expense

 

3,786

 

2,140

 

2,131

 

2,139

 

10,196

 

Net interest income

 

25,168

 

1,239

 

1,218

 

1,217

 

28,842

 

Provision for loan losses

 

3,800

 

—

 

—

 

—

 

3,800

 

Noninterest income

 

109,691

 

39,591

 

38,063

 

36,887

 

224,232

 

Noninterest expense

 

115,934

 

46,792

 

55,233

 

37,558

 

255,517

 

Income (loss) before income taxes

 

15,125

 

(5,962

)

(15,952

)

546

 

(6,243

)

Income tax provision (benefit)

 

5,809

 

(1,914

)

(5,243

)

203

 

(1,145

)

Net income (loss)

 

9,316

 

(4,048

)

(10,709

)

343

 

(5,098

)

Less: Net income attributable to noncontrolling interest

 

494

 

—

 

—

 

—

 

494

 

Income (loss) attributable to Hilltop

 

$

8,822

 

$

(4,048

)

$

(10,709

)

$

343

 

$

(5,592

)

Dividends on preferred stock

 

259

 

—

 

—

 

—

 

259

 

Income (loss) applicable to Hilltop common stockholders

 

$

8,563

 

$

(4,048

)

$

(10,709

)

$

343

 

$

(5,851

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.13

 

$

(0.07

)

$

(0.19

)

$

0.01

 

$

(0.10

)

Diluted

 

$

0.13

 

$

(0.07

)

$

(0.19

)

$

0.01

 

$

(0.10

)