Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2012

Selected Quarterly Financial Information (Unaudited)

Selected Quarterly Financial Information (Unaudited)

31. Selected Quarterly Financial Information (Unaudited)

Selected quarterly financial information for the years ended December 31, 2012 and 2011 is summarized as follows (in thousands, except per share data).

	Year Ended December 31, 2012
	Fourth		Third			Second			First
	Quarter		Quarter			Quarter			Quarter
Interest income	$	28,954	$	3,379		$	3,349		$	3,356
Interest expense	3,786		2,140			2,131			2,139
Net interest income	25,168		1,239			1,218			1,217
Provision for loan losses	3,800		—			—			—
Noninterest income	109,691		39,591			38,063			36,887
Noninterest expense	115,934		46,792			55,233			37,558
Income (loss) before income taxes	15,125		(5,962		)	(15,952		)	546
Income tax provision (benefit)	5,809		(1,914		)	(5,243		)	203
Net income (loss)	9,316		(4,048		)	(10,709		)	343
Less: Net income attributable to noncontrolling interest	494		—			—			—
Net income (loss) attributable to Hilltop Holdings	$	8,822	$	(4,048	)	$	(10,709	)	$	343
Dividends on preferred stock	259		—			—			—
Income (loss) applicable to Hilltop Holdings common stockholders	$	8,563	$	(4,048	)	$	(10,709	)	$	343
Earnings (loss) per common share:
Basic	$	0.13	$	(0.07	)	$	(0.19	)	$	0.01
Diluted	$	0.13	$	(0.07	)	$	(0.19	)	$	0.01

	Year Ended December 31, 2011
	Fourth		Third			Second			First
	Quarter		Quarter			Quarter			Quarter
Interest income	$	3,243	$	3,233		$	2,357		$	2,216
Interest expense	2,323		2,241			2,245			2,176
Net interest income	920		992			112			40
Noninterest income	37,259		37,512			34,303			32,576
Noninterest expense	30,392		39,569			54,864			30,429
Income (loss) before income taxes	7,787		(1,065		)	(20,449		)	2,187
Income tax provision (benefit)	2,743		(1,313		)	(7,216		)	777
Net income (loss)	$	5,044	$	248		$	(13,233	)	$	1,410
Earnings (loss) per common share:
Basic	$	0.09	$	0.00		$	(0.23	)	$	0.02
Diluted	$	0.09	$	0.00		$	(0.23	)	$	0.02

As discussed in Note 2 to the consolidated financial statements, the operating results of Hilltop for the fourth quarter ended December 31, 2012 include the results from the operations acquired in the PlainsCapital transaction for the month ended December 31, 2012. PlainsCapital contributed $8.4 million of net earnings during the fourth quarter of 2012.