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;
- 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;
- 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;
- 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;
- 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.
- 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 (in 000's)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 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 (in 000's, except per share data)	September 30, 2025			June 30, 2025			March 31, 2025		December 31, 2024			September 30, 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 (in 000's)	Banking			Broker-Dealer		Mortgage Origination			Corporate			All Other and Eliminations			Hilltop 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	Banking			Broker-Dealer		Mortgage Origination			Corporate			All Other and Eliminations			Hilltop Consolidated
(in 000's)	Banking			Broker-Dealer		Mortgage Origination			Corporate			All Other and Eliminations			Hilltop 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
Selected Financial Data	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 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.

Capital Ratios	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 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	%

Non-Performing Assets Portfolio Data	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 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
Net Interest Margin (Taxable Equivalent) Details ⁽¹⁾	Average Outstanding Balance		Interest Earned or Paid		Annualized Yield or Rate		Average Outstanding Balance		Interest Earned or Paid		Annualized Yield or 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	%

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(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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251023056732/en/

Investor Relations Contact:

Matt Dunn

214-525-4636

mdunn@hilltop.com