Hilltop Holdings Inc. (NYSE:HTH) Q4 2022 Earnings Conference Call January 27, 2023 9:00 AM ET
Company Participants
Erik Yohe - Executive Vice President of Corporate Development
Jeremy Ford - President and Chief Executive Officer
William Furr - Chief Financial Officer
Conference Call Participants
Michael Rose - Raymond James
Thomas Wendler - Stephens, Inc.
Woody Lay - KBW
Operator
Hi, everyone, and welcome to the Hilltop Holdings' Fourth Quarter 2022 Earnings Conference Call and Webcast. My name is Bruno, and I will be the operator of your call today. [Operator Instructions]
I will now hand over to your host, Erik Yohe. Please go ahead.
Erik Yohe
Thank you, Bruno. 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, 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 Web site at ir.hilltop-holdings.com.
With that, I will now turn the presentation over to President and CEO, Jeremy Ford.
Jeremy Ford
Thank you, Erik, and good morning. For the fourth quarter, Hilltop reported net income of approximately $26 million or $0.39 per diluted share. Return on average assets for the period was 0.6%, and return on average equity was 5%. Although the mortgage market remained under significant pressure, we still generated consolidated profitability, and grew our capital base due to our diversified business model, strong balance sheet, and continued focus on expense discipline across each of our companies.