XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans, including fees $ 103,924 $ 113,793 $ 203,868 $ 203,784
Securities borrowed 17,486 9,597 33,786 17,650
Securities:        
Taxable 12,516 8,833 23,469 15,433
Tax-exempt 1,697 1,375 3,469 2,619
Other 4,417 2,708 8,808 5,061
Total interest income 140,040 136,306 273,400 244,547
Interest expense:        
Deposits 10,136 5,464 18,811 10,154
Securities loaned 15,075 7,481 28,814 13,821
Short-term borrowings 6,466 3,648 10,509 5,066
Notes payable 2,437 2,826 4,934 5,640
Junior subordinated debentures 918 744 1,740 1,455
Other 160 167 324 335
Total interest expense 35,192 20,330 65,132 36,471
Net interest income 104,848 115,976 208,268 208,076
Provision (recovery) for loan losses 340 5,853 (1,467) 7,558
Net interest income after provision (recovery) for loan losses 104,508 110,123 209,735 200,518
Noninterest income:        
Net gains from sale of loans and other mortgage production income 132,478 153,688 238,245 277,838
Mortgage loan origination fees 29,318 25,976 49,944 45,532
Securities commissions and fees 38,320 37,804 77,037 76,861
Investment and securities advisory fees and commissions 21,965 25,537 40,319 47,739
Net insurance premiums earned 34,105 36,020 68,420 72,160
Other 23,248 65,667 40,612 96,001
Total noninterest income 279,434 344,692 514,577 616,131
Noninterest expense:        
Employees' compensation and benefits 200,632 214,719 383,232 401,605
Occupancy and equipment, net 27,893 27,919 55,723 55,212
Professional services 26,020 26,696 50,724 51,741
Loss and loss adjustment expenses 24,409 33,184 39,941 54,884
Other 59,563 63,733 117,099 123,301
Total noninterest expense 338,517 366,251 646,719 686,743
Income before income taxes 45,425 88,564 77,593 129,906
Income tax expense 11,034 25,754 18,522 40,789
Net income 34,391 62,810 59,071 89,117
Less: Net income attributable to noncontrolling interest 1,311 334 1,550 207
Income attributable to Hilltop $ 33,080 $ 62,476 $ 57,521 $ 88,910
Earnings per common share:        
Basic (in dollars per share) $ 0.35 $ 0.64 $ 0.60 $ 0.90
Diluted (in dollars per share) 0.35 0.63 0.60 0.90
Cash dividends declared per common share $ 0.07 $ 0.06 $ 0.14 $ 0.12
Weighted average share information:        
Basic (in shares) 95,270 98,154 95,625 98,295
Diluted (in shares) 95,358 98,414 95,727 98,576