The following is a summary of the Hilltop Holdings Inc. (HTH) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Hilltop Holdings reported a net income of approximately $20 million, or $0.31 per diluted share for Q2 2024.

• Return on average assets was 0.6% and return on average equity was 3.8%.

• Net interest income declined by 12% year-over-year, offset by growth in non-interest revenue and a decrease in non-interest expenses.

Business Progress:

• PlainsCapital Bank's pretax income was $33 million on $12.7 billion of assets.

• PrimeLending saw positive pretax results, benefiting from high origination volumes and improved gain on sale margins.

• Hilltop Securities generated pretax income of $7 million, highlighting diversity in service offerings despite varied performance across business lines.

Opportunities:

• Positive trends in deposit growth excluding broker deposits indicate stable growth in core banking operations.

• Improvements in Hilltop's lending practices and adjustments in market strategies to navigate high interest rates present future opportunities.

Risks:

• Elevated interest rates and robust competition continue to pressure commercial lending, potentially restricting loan growth.

• Persistent adjustments in deposit costs and competitive market conditions might impact financial stability.

More details: Hilltop Holdings IR

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