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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans, including fees $ 107,860 $ 114,325 $ 219,028 $ 225,195
Securities borrowed 12,883 15,517 26,210 32,376
Securities:        
Taxable 11,698 13,778 27,393 28,434
Tax-exempt 1,539 1,513 3,149 3,011
Other 951 3,867 4,026 8,922
Total interest income 134,931 149,000 279,806 297,938
Interest expense:        
Deposits 11,947 18,036 27,071 35,142
Securities loaned 10,796 13,470 22,073 28,208
Short-term borrowings 2,367 6,897 7,111 12,368
Notes payable 3,768 2,165 6,186 4,346
Junior subordinated debentures 705 986 1,555 1,987
Other 790 162 916 314
Total interest expense 30,373 41,716 64,912 82,365
Net interest income 104,558 107,284 214,894 215,573
Provision for (reversal of) credit losses 66,026 (672) 100,575 279
Net interest income after provision for (reversal of) credit losses 38,532 107,956 114,319 215,294
Noninterest income:        
Net gains from sale of loans and other mortgage production income 295,317 131,173 445,803 227,312
Mortgage loan origination fees 45,341 33,409 73,895 55,282
Securities commissions and fees 34,234 34,142 74,303 70,111
Investment and securities advisory fees and commissions 29,120 22,859 52,300 43,019
Other 64,113 55,120 93,537 96,942
Total noninterest income 468,125 276,703 739,838 492,666
Noninterest expense:        
Employees' compensation and benefits 276,893 212,959 473,249 399,655
Occupancy and equipment, net 26,174 27,938 45,696 55,717
Professional services 15,737 13,773 30,535 27,882
Other 51,405 49,418 102,630 99,581
Total noninterest expense 370,209 304,088 652,110 582,835
Income from continuing operations before income taxes 136,448 80,571 202,047 125,125
Income tax expense 31,808 18,526 46,956 28,663
Income from continuing operations 104,640 62,045 155,091 96,462
Income (loss) from discontinued operations, net of income taxes 30,775 (2,254) 33,926 3,106
Net income 135,415 59,791 189,017 99,568
Less: Net income attributable to noncontrolling interest 6,939 1,980 10,905 2,971
Income attributable to Hilltop $ 128,476 $ 57,811 $ 178,112 $ 96,597
Basic:        
Earnings from continuing operations (in dollars per share) $ 1.08 $ 0.64 $ 1.60 $ 1.00
Earnings (losses) from discontinued operations (in dollars per share) 0.34 (0.02) 0.37 0.03
Basic earnings per common share (in dollars per share) 1.42 0.62 1.97 1.03
Diluted:        
Earnings from continuing operations (in dollars per share) 1.08 0.64 1.60 1.00
Earnings (losses) from discontinued operations (in dollars per share) 0.34 (0.02) 0.37 0.03
Diluted earnings per common share (in dollars per share) $ 1.42 $ 0.62 $ 1.97 $ 1.03
Weighted average share information:        
Basic (in shares) 90,164 93,399 90,337 93,533
Diluted (in shares) 90,164 93,418 90,337 93,534