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Segment and Related Information
6 Months Ended
Jun. 30, 2020
Segment and Related Information  
Segment and Related Information

21. Segment and Related Information

The Company currently has four reportable business segments that are organized primarily by the core products offered to the segments’ respective customers. These segments reflect the manner in which operations are managed and the criteria used by the chief operating decision maker, the Company’s President and Chief Executive Officer, to evaluate segment performance, develop strategy and allocate resources.

The banking segment includes the operations of the Bank. The broker-dealer segment includes the operations of Securities Holdings and the mortgage origination segment is composed of PrimeLending.

As discussed in Note 3 to the consolidated financial statements, during the first quarter of 2020, management had determined that the insurance segment met the criteria to be presented as discontinued operations. On June 30, 2020, Hilltop completed the sale of NLC. Accordingly, insurance segment results and its assets and liabilities have been presented as discontinued operations in the consolidated financial statements and in the tables below.

Corporate includes certain activities not allocated to specific business segments. These activities include holding company financing and investing activities, merchant banking investment opportunities and management and administrative services to support the overall operations of the Company.

Balance sheet amounts not discussed previously and the elimination of intercompany transactions are included in “All Other and Eliminations.” The following tables present certain information about reportable business segment revenues, operating results, goodwill and assets (in thousands).

    

    

    

Mortgage

    

    

    

    

All Other and

    

Hilltop

 

Three Months Ended June 30, 2020

Banking

Broker-Dealer

Origination

Insurance

Corporate

Eliminations

Consolidated

 

Net interest income (expense)

$

94,102

$

9,663

$

(1,667)

$

$

(3,232)

$

5,692

$

104,558

Provision for credit losses

 

65,600

426

 

66,026

Noninterest income

 

10,656

122,961

340,487

550

(6,529)

 

468,125

Noninterest expense

 

56,622

 

104,411

 

200,493

8,888

(205)

 

370,209

Income (loss) from continuing operations before taxes

(17,464)

27,787

138,327

(11,570)

(632)

136,448

Income (loss) from discontinued operations before taxes

(1,911)

32,341

30,430

$

(17,464)

$

27,787

$

138,327

$

(1,911)

$

20,771

$

(632)

$

166,878

    

    

Mortgage

    

    

    

    

All Other and

    

Hilltop

Six Months Ended June 30, 2020

Banking

Broker-Dealer

Origination

Insurance

Corporate

Eliminations

Consolidated

Net interest income (expense)

$

188,025

$

22,836

$

(1,299)

$

$

(4,888)

$

10,220

$

214,894

Provision for credit losses

 

99,875

700

 

100,575

Noninterest income

 

19,427

209,170

519,455

2,838

(11,052)

 

739,838

Noninterest expense

 

113,589

 

185,350

 

340,045

13,741

(615)

 

652,110

Income (loss) from continuing operations before taxes

(6,012)

45,956

178,111

(15,791)

(217)

202,047

Income from discontinued operations before taxes

2,103

32,341

34,444

$

(6,012)

$

45,956

$

178,111

$

2,103

$

16,550

$

(217)

$

236,491

    

    

    

    

Mortgage

    

    

    

    

All Other and

    

Hilltop

 

Three Months Ended June 30, 2019

Banking

Broker-Dealer

Origination

Insurance

Corporate

Eliminations

Consolidated

 

Net interest income (expense)

$

93,423

$

11,410

$

(1,031)

$

$

(1,331)

$

4,813

$

107,284

Provision for (reversal of) credit losses

 

(670)

(2)

 

(672)

Noninterest income

 

10,742

105,559

164,548

648

(4,794)

 

276,703

Noninterest expense

 

58,251

 

94,870

 

141,721

9,274

(28)

 

304,088

Income (loss) from continuing operations before taxes

46,584

22,101

21,796

(9,957)

47

80,571

Loss from discontinued operations before taxes

(2,829)

(2,829)

$

46,584

$

22,101

$

21,796

$

(2,829)

$

(9,957)

$

47

$

77,742

    

    

    

Mortgage

    

    

    

    

All Other and

    

Hilltop

 

Six Months Ended June 30, 2019

Banking

Broker-Dealer

Origination

Insurance

Corporate

Eliminations

Consolidated

 

Net interest income (expense)

$

186,113

$

24,260

$

(1,499)

$

$

(2,661)

$

9,360

$

215,573

Provision for (reversal of) credit losses

 

355

(76)

 

279

Noninterest income

 

21,362

196,865

282,580

1,360

(9,501)

 

492,666

Noninterest expense

 

118,977

 

182,677

 

256,398

24,836

(53)

 

582,835

Income (loss) from continuing operations before taxes

88,143

38,524

24,683

(26,137)

(88)

125,125

Income from discontinued operations before taxes

3,980

3,980

$

88,143

$

38,524

$

24,683

$

3,980

$

(26,137)

$

(88)

$

129,105

    

    

    

Mortgage

    

    

    

    

All Other and

    

Hilltop

 

Banking

Broker-Dealer

Origination

Insurance

Corporate

Eliminations

Consolidated

 

June 30, 2020

Goodwill

$

247,368

$

7,008

$

13,071

$

$

$

$

267,447

Total assets

$

13,575,474

$

2,954,978

$

2,972,527

$

$

2,828,281

$

(5,397,144)

$

16,934,116

December 31, 2019

Goodwill

$

247,368

$

7,008

$

13,071

$

$

$

$

267,447

Assets of discontinued operations

$

$

$

$

248,429

$

$

$

248,429

Total assets

$

11,147,344

$

3,457,068

$

2,357,415

$

248,429

$

2,393,604

$

(4,431,412)

$

15,172,448