Hilltop Holdings Inc. (NYSE:HTH) Q2 2023 Earnings Conference Call July 21, 2023 9:00 AM ET
Company Participants
Jeremy Ford - President, Chief Executive Officer
William Furr - Chief Financial Officer
Erik Yohe - Executive Vice President
Conference Call Participants
Thomas Wendler - Stephens, Inc
Stephen Scouten - Piper Sandler
Woody Lay - KBW
Carl Gatenio - Raymond James & Associates
Operator
Good morning, ladies and gentlemen, and welcome to the Hilltop Holdings, Second Quarter 2023 Earnings Conference Call and webcast. At this time all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]. This call is being recorded on Friday, July 21, 2023.
I would now like to turn the conference over to Erik Yohe, Executive Vice President of Hilltop Holdings. Please go ahead.
Erik Yohe
Thank you. Before we get started, please note that certain statements during today’s presentation that are not statements of historical fact, including statements concerning such items as our outlook, business strategy, future plans, financial condition, allowance for credit losses, liquidity and sources of funding, the impact and potential impacts of inflation, stock repurchases and dividends and impacts of interest rate changes, as well as such other items referenced in the preface of our presentation are forward-looking statements.
These statements are based on management’s current expectations concerning future events that by their nature are subject to risks and uncertainties. Our actual results, capital, liquidity and financial condition may differ materially from these statements due to a variety of factors, including the precautionary statements referenced in our presentation and those included in our most recent annual and quarterly reports filed with the SEC.
Please note that the information presented is preliminary and based upon data available at this time. Except to the extent required by law, we expressly disclaim any obligation to update earlier statements as a result of new information.
Additionally, this presentation includes certain non-GAAP measures, including tangible common equity and tangible book value per share. A reconciliation of these measures to the nearest GAAP measure may be found in the appendix to this presentation, which is posted on our website at ir.Hilltop-holdings.com.
With that, I’d like to now turn the presentation over to Jeremy Ford, President and CEO.
Jeremy Ford
Thank you, Erik, and good morning. For the second quarter, Hilltop reported net income of $18 million or $0.28 per diluted share. Return on average assets for the period was 0.5% and return on average equity was 3.5%.