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Monday, May 06, 2013 9:16:45 PM
DALLAS--(BUSINESS WIRE)--Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”), the parent company of PlainsCapital Corporation (“PlainsCapital”) and NLASCO, Inc., Hilltop’s insurance subsidiary, announced financial results for the first quarter of 2013. PlainsCapital, through its operating subsidiaries PlainsCapital Bank, PrimeLending and First Southwest, provides banking, mortgage origination and financial advisory services, respectively. NLASCO provides property and casualty insurance from two insurance companies.
Hilltop produced $32.4 million of income applicable to common stockholders for the first quarter of 2013, compared to $343 thousand for the first quarter of 2012. Diluted earnings per share was $0.39, compared to $0.01 for the first quarter of 2012.
First Quarter 2013 Financial Highlights:
• Hilltop’s total assets decreased to $7.2 billion at March 31, 2013, compared to $7.3 billion at December 31, 2012;
• Total stockholders’ equity increased by $33.3 million from December 31, 2012 to $1.2 billion at March 31, 2013;
• Loans Held for Investment, net of Allowance for Loan Losses, increased by 2.6 percent from December 31, 2012 to $3.2 billion, while Loans Held for Sale decreased by 11.4 percent to $1.2 billion at March 31, 2013;
• Hilltop is well capitalized with a Tier 1 Leverage Ratio1 of 13.39% and Total Capital Ratio of 18.58%; and
• Hilltop continues to retain over $200 million of freely usable cash.
“As the first full quarter since the acquisition of PlainsCapital, we are pleased to report favorable consolidated earnings and positive contributions from each business segment,” said Jeremy Ford, CEO of Hilltop. “Results for the first quarter illustrate the diversity of our business segments and Hilltop’s strong capital position.”
http://www.businesswire.com/news/home/20130506005855/en/Hilltop-Holdings-Announces-Financial-Results-Quarter-2013
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