Hilltop Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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, | |||||||||
| | 2024 | 2023 | 2022 | ||||||
| Operating Activities | | | | | | | | | |
| Net income | | $123,210 | | $117,979 | | $119,294 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | |
| Provision for credit losses | | 941 | | 18,392 | | 8,309 | |||
| Depreciation, amortization and accretion, net | | 19,948 | | 19,630 | | 32,625 | |||
| Equity in undistributed earnings of merchant banking subsidiaries | | | (9,161) | | | (9,062) | | | (3,486) |
| Deferred income taxes | | (19,535) | | 7,004 | | 8,184 | |||
| Other, net | | 4,114 | | 14,185 | | 15,257 | |||
| Net change in securities purchased under agreements to resell | | (8,717) | | 38,059 | | 192 | |||
| Net change in trading securities | | 25,288 | | 239,041 | | (107,034) | |||
| Net change in broker-dealer and clearing organization receivables | | 102,019 | | (448,825) | | 936,861 | |||
| Net change in other assets | | 42,195 | | 25,016 | | (7,134) | |||
| Net change in broker-dealer and clearing organization payables | | (64,509) | | 413,622 | | (734,242) | |||
| Net change in other liabilities | | (10,886) | | (2,942) | | 54,123 | |||
| Net change in securities sold, not yet purchased | | | 22,362 | | (18,151) | | | (43,563) | |
| Proceeds from sale of mortgage servicing rights asset | | 87,268 | | 19,055 | | 65,108 | |||
| Change in valuation of mortgage servicing rights asset | | | 15,083 | | | 12,467 | | | (21,969) |
| Net gains from sales of loans | | | (190,021) | | (172,150) | | | (302,384) | |
| Loans originated for sale | | (10,007,122) | | (9,485,477) | | (14,214,874) | |||
| Proceeds from loans sold | | | 10,141,455 | | | 9,655,180 | | | 15,384,181 |
| Net cash provided by operating activities | | | 273,932 | | | 443,023 | | | 1,189,448 |
| Investing Activities | | | | | | | | | |
| Proceeds from maturities and principal reductions of securities held to maturity | | 81,969 | | 68,882 | | 95,603 | |||
| Proceeds from sales, maturities and principal reductions of securities available for sale | | | 235,722 | | 249,520 | | 329,558 | ||
| Proceeds from sales, maturities and principal reductions of equity securities | | | 12,663 | | | — | | | — |
| Purchases of securities held to maturity | | — | | — | | (13,180) | |||
| Purchases of securities available for sale | | | (116,117) | | (65,165) | | (768,461) | ||
| Purchases of equity securities | | (1,475) | | (19,914) | | (30) | |||
| Net change in loans held for investment | | 110,916 | | (71,419) | | (515,326) | |||
| Purchases of premises and equipment and other assets | | (7,131) | | (8,488) | | (9,798) | |||
| Proceeds from sales of premises and equipment, other real estate owned, and other assets | | | 7,646 | | | 4,260 | | | 4,544 |
| Proceeds from sale of loans held for sale transferred from loans held for investment | | 30,103 | | — | | — | |||
| Net cash received from (paid to) Federal Home Loan Bank and Federal Reserve Bank stock | | | (75) | | | 662 | | | (212) |
| Net cash provided by (used in) investing activities | | 354,221 | | 158,338 | | (877,302) | |||
| Financing Activities | | | | | | | | | |
| Net change in deposits | | (32,193) | | (201,915) | | (1,278,916) | |||
| Net change in short-term borrowings | | (93,157) | | (70,929) | | 108,369 | |||
| Proceeds from long-term borrowings | | 918,713 | | 490,151 | | 821,570 | |||
| Payments on long-term borrowings | | (890,886) | | (490,151) | | (863,284) | |||
| Payments to repurchase common stock | | (19,864) | | (5,100) | | (442,336) | |||
| Dividends paid on common stock | | (44,257) | | (41,604) | | (42,963) | |||
| Net cash distributed to noncontrolling interest | | | (9,012) | | | (7,576) | | | (6,090) |
| Other, net | | | (3,652) | | | (5,391) | | | (5,860) |
| Net cash used in financing activities | | | (174,308) | | | (332,515) | | | (1,709,510) |
| | | | | | | | | | |
| Net change in cash, cash equivalents and restricted cash | | 453,845 | | 268,846 | | (1,397,364) | |||
| Cash, cash equivalents and restricted cash, beginning of year | | 1,916,745 | | 1,647,899 | | 3,045,263 | |||
| Cash, cash equivalents and restricted cash, end of year | | $2,370,590 | | $1,916,745 | | $1,647,899 | |||
| | | | | | | | | | |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets | | | | | | | | | |
| Cash and due from banks | | $2,298,977 | | $1,858,700 | | $1,579,512 | |||
| Federal funds sold | | | 650 | | | 650 | | | 650 |
| Assets segregated for regulatory purposes | | | 70,963 | | | 57,395 | | | 67,737 |
| Total cash, cash equivalents and restricted cash | | $2,370,590 | | $1,916,745 | | $1,647,899 | |||
| Supplemental Disclosures of Cash Flow Information | | | | | | | | | |
| Cash paid for interest | | $426,777 | | $357,403 | | $128,414 | |||
| Cash paid for income taxes, net of refunds | | $44,228 | | $19,060 | | $15,088 | |||
| Supplemental Schedule of Non-Cash Activities | | | | | | | | | |
| Conversion of loans to other real estate owned | | $3,001 | | $5,638 | | $1,251 | |||
| Additions to mortgage servicing rights | | $11,412 | | $27,359 | | $56,974 | |||
Notes to Consolidated Financial Statements
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