Hilltop Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
HTH$36.90-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS** **
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, | |||||||||
| | 2023 | 2022 | 2021 | ||||||
| Operating Activities | | | | | | | | | |
| Net income | | $117,979 | | $119,294 | | $386,096 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | |
| Provision for (reversal of) credit losses | | 18,392 | | 8,309 | | (58,213) | |||
| Depreciation, amortization and accretion, net | | 19,630 | | 32,625 | | 24,628 | |||
| Equity in undistributed earnings of merchant banking subsidiaries | | | (9,062) | | | (3,486) | | | 1,210 |
| Deferred income taxes | | 7,004 | | 8,184 | | (7,077) | |||
| Other, net | | 14,185 | | 15,257 | | 18,580 | |||
| Net change in securities purchased under agreements to resell | | 38,059 | | 192 | | (37,943) | |||
| Net change in trading securities | | 239,041 | | (107,034) | | 46,257 | |||
| Net change in broker-dealer and clearing organization receivables | | (448,825) | | 936,861 | | (564,404) | |||
| Net change in other assets | | 25,016 | | (7,134) | | 1,975 | |||
| Net change in broker-dealer and clearing organization payables | | 413,622 | | (734,242) | | 129,495 | |||
| Net change in other liabilities | | (2,942) | | 54,123 | | (212,408) | |||
| Net change in securities sold, not yet purchased | | | (18,151) | | (43,563) | | | 16,797 | |
| Proceeds from sale of mortgage servicing rights asset | | 19,055 | | 65,108 | | 142,558 | |||
| Change in valuation of mortgage servicing rights asset | | | 12,467 | | | (21,969) | | | (7,373) |
| Net gains from sales of loans | | | (172,150) | | (302,384) | | | (825,960) | |
| Loans originated for sale | | (9,485,477) | | (14,214,874) | | (26,933,574) | |||
| Proceeds from loans sold | | | 9,655,180 | | | 15,384,181 | | | 28,644,978 |
| Net cash provided by operating activities | | | 443,023 | | | 1,189,448 | | | 765,622 |
| Investing Activities | | | | | | | | | |
| Proceeds from maturities and principal reductions of securities held to maturity | | 68,882 | | 95,603 | | 43,695 | |||
| Proceeds from sales, maturities and principal reductions of securities available for sale | | | 249,520 | | 329,558 | | 621,984 | ||
| Purchases of securities held to maturity | | — | | (13,180) | | — | |||
| Purchases of securities available for sale | | | (65,165) | | (768,461) | | (1,343,763) | ||
| Purchases of equity securities | | (19,914) | | (30) | | — | |||
| Net change in loans held for investment | | (71,419) | | (515,326) | | 125,315 | |||
| Purchases of premises and equipment and other assets | | (8,488) | | (9,798) | | (24,751) | |||
| Proceeds from sales of premises and equipment and other real estate owned | | | 4,260 | | | 4,544 | | | 24,353 |
| Net cash received from (paid to) Federal Home Loan Bank and Federal Reserve Bank stock | | 662 | | (212) | | (107) | |||
| Net cash provided by (used in) investing activities | | 158,338 | | (877,302) | | (553,274) | |||
| Financing Activities | | | | | | | | | |
| Net change in deposits | | (201,915) | | (1,278,916) | | 1,555,190 | |||
| Net change in short-term borrowings | | (70,929) | | 108,369 | | 163,735 | |||
| Proceeds from notes payable | | 490,151 | | 821,570 | | 976,119 | |||
| Payments on notes payable | | (490,151) | | (863,284) | | (1,037,652) | |||
| Payments to repurchase common stock | | (5,100) | | (442,336) | | (123,631) | |||
| Dividends paid on common stock | | (41,604) | | (42,963) | | (38,978) | |||
| Net cash distributed to noncontrolling interest | | | (7,576) | | | (6,090) | | | (11,774) |
| Other, net | | | (5,391) | | | (5,860) | | | (3,397) |
| Net cash used in financing activities | | | (332,515) | | | (1,709,510) | | | 1,479,612 |
| | | | | | | | | | |
| Net change in cash, cash equivalents and restricted cash | | 268,846 | | (1,397,364) | | 1,691,960 | |||
| Cash, cash equivalents and restricted cash, beginning of year | | 1,647,899 | | 3,045,263 | | 1,353,303 | |||
| Cash, cash equivalents and restricted cash, end of year | | $1,916,745 | | $1,647,899 | | $3,045,263 | |||
| | | | | | | | | | |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets | | | | | | | | | |
| Cash and due from banks | | $1,858,700 | | $1,579,512 | | $2,823,138 | |||
| Federal funds sold | | | 650 | | | 650 | | | 385 |
| Assets segregated for regulatory purposes | | | 57,395 | | | 67,737 | | | 221,740 |
| Total cash, cash equivalents and restricted cash | | $1,916,745 | | $1,647,899 | | $3,045,263 | |||
| Supplemental Disclosures of Cash Flow Information | | | | | | | | | |
| Cash paid for interest | | $357,403 | | $128,414 | | $110,108 | |||
| Cash paid for income taxes, net of refunds | | $19,060 | | $15,088 | | $136,183 | |||
| Supplemental Schedule of Non-Cash Activities | | | | | | | | | |
| Conversion of loans to other real estate owned | | $5,638 | | $1,251 | | $3,561 | |||
| Additions to mortgage servicing rights | | $27,359 | | $56,974 | | $78,433 | |||
Notes to Consolidated Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.