Hilltop Holdings Inc (HTH)

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Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”), the parent company of PlainsCapital Corporation (“PlainsCapital”), announced financial results for the third quarter of 2013.

PlainsCapital, through its operating subsidiaries PlainsCapital Bank (the “Bank”), PrimeLending and First Southwest, provides banking, mortgage origination and financial advisory services, respectively. Hilltop’s insurance subsidiary, National Lloyds Corporation (“NLC”), provides property and casualty insurance.

Hilltop produced net income to common stockholders of $31.8 million, or $0.36 per diluted share, for the third quarter of 2013. Net loss to common stockholders was $4.0 million, or $0.07 per diluted share, for the third quarter of 2012. Net income to common stockholders was $20.9 million, or $0.24 per diluted share, for the second quarter of 2013. Hilltop’s annualized return on average assets and return on average equity for the third quarter of 2013 were 1.73% and 10.92%, respectively.

“Hilltop’s third quarter results illustrate the diversity of our businesses and their collective profitability. Our banking and insurance businesses produced strong results for the quarter. However, the results of our mortgage origination and financial advisory businesses were impacted by adverse market conditions. We have undertaken cost reductions to improve the efficiency of our mortgage platform while maintaining the strength of our franchise.” said Jeremy Ford, CEO of Hilltop.