Page 1

EX - 99.1 2 hth - 20210422xex99d1.htm EX - 99.1 Exhibit 99.1 Investor Relations Contact : Erik Yohe 214-525-4634 eyohe@hilltop-holdings.com Hilltop Holdings Inc. Announces Financial Results for First Quarter 2021 _ DALLAS ( BUSINESS WIRE ) April 22 , 2021 - · Hilltop Holdings Inc. ( NYSE : HTH ) ( “ Hilltop ” ) today announced financial results for the first quarter 2021. Hilltop produced income from continuing operations to common stockholders of $ 120.3 million , or $ 1.46 per diluted share , for the first quarter of 2021 , compared to $ 46.5 million , or $ 0.51 per diluted share , for the first quarter of 2020. Hilltop's financial results from continuing operations for the first quarter of 2021 reflected a significant increase in mortgage origination segment net gains from sale of loans and other mortgage production income , while the first quarter of 2020 results included a build in the allowance for credit losses associated with the impact of macroeconomic forecast assumptions attributable to the market disruption and economic uncertainties caused by COVID - 19 . Including income from discontinued operations related to the former insurance business , income applicable to common stockholders was $ 120.3 million , or $ 1.46 per diluted share , for the first quarter of 2021 , compared to $ 49.6 million , or $ 0.55 per diluted share , for the first quarter of 2020 . Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $ 0.12 per common share , payable on May 28 , 2021 , to all common stockholders of record as of the close of business on May 14 , 2021. Additionally , during the first quarter of 2021 , Hilltop paid $ 5.0 million to repurchase an aggregate of 149,878 shares of its common stock at an average price of $ 33.01 per share pursuant to the 2021 stock repurchase program . These shares were returned to the pool of authorized but unissued shares of common stock . The COVID - 19 pandemic has negatively impacted financial markets and overall economic conditions , and is expected to continue to have implications on our business and operations . The extent of the impact of COVID - 19 on our operational and financial performance for the remainder of 2021 is dependent on certain developments , including , among others , the ongoing distribution and effectiveness of vaccines , government stimulus , the ultimate impact of COVID - 19 on our customers and clients , potential further disruption and deterioration in the financial services industry , including the mortgage servicing and commercial paper markets , and additional , or extended , federal , state and local government orders and regulations that might be imposed in response to the pandemic , all of which are uncertain . Jeremy B. Ford , President and CEO of Hilltop , said , “ Hilltop's results in the first quarter reflect the focus of our teammates across Hilltop on serving our clients and executing on our strategic initiatives . The mortgage origination segment had another exceptional quarter , generating $ 6.2 billion of production volume , a year- over - year increase of 71 % , and $ 93 million of pre - tax income . The banking segment generated $ 65 million of pre - tax income , including a $ 5 million reduction in credit reserves , and delivered an efficiency ratio below 50 % . The banking team also continued to support its clients through the origination of approximately $ 200 million of additional PPP loans , bringing the total PPP originations since the inception of the program to approximately $ 900 million . Additionally , the broker - dealer segment generated $ 18 million of pre - tax income , as its structured finance and public finance services businesses produced revenue growth versus the prior year in a very volatile interest rate market . " Overall , we are very pleased with the strong start to 2021 , as our diversified , yet integrated , business model continues to generate solid results for our shareholders . At Hilltop , we are focused on value creation over the long - term and will continue to make investments in people and technology for prudent future growth . ” First Quarter 2021 Highlights for Hilltop : For the first quarter of 2021 , net gains from sale of loans and other mortgage production income and mortgage loan origination fees within our mortgage origination segment was $ 310.2 million , compared to $ 179.0 million in the first quarter of 2020 , a 73.3 % increase ; о Mortgage loan origination production volume was $ 6.2 billion during the first quarter of 2021 , compared to $ 3.6 billion in the first quarter of 2020 . Hilltop Holdings