Market Overview

Hilltop Holdings Inc. Completes Acquisition of The Bank of River Oaks

Share:

PlainsCapital Bank Increases Presence in Houston, Texas with Addition
of Three Locations

Dallas-based Hilltop Holdings Inc. (NYSE:HTH), the holding company for
PlainsCapital Bank (PlainsCapital), today announced it has completed its
acquisition of privately held, Houston-based The Bank of River Oaks in
an $85 million all-cash transaction.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180801005174/en/

Pictured left to right: Mark Troth, Medical Center President, PlainsCapital Bank; Jeremy B. Ford, Co ...

Pictured left to right: Mark Troth, Medical Center President, PlainsCapital Bank; Jeremy B. Ford, Co-CEO, Hilltop Holdings; Jerry Schaffner, President and CEO, PlainsCapital Bank; Andy Lane, Houston Region Chairman, PlainsCapital Bank; Alan White, Co-CEO, Hilltop Holdings; Jerry Brewer, Riverway President, PlainsCapital Bank; Erik Yohe, SVP Corporate Development, Hilltop Holdings. (Photo: Business Wire)

The acquisition more than doubles PlainsCapital's Houston-area portfolio
with the addition of approximately $342 million in total loans and
approximately $369 million in total deposits. The Bank of River Oaks'
three locations will now operate as full-service PlainsCapital branches,
increasing PlainsCapital's presence in the market to five locations.

"The successful completion of this acquisition is a significant step
forward as we seek to expand our commercial lending efforts in the
Houston area," said Jeremy B. Ford, president and co-CEO of Hilltop
Holdings. "The Bank of River Oaks has built a strong loan portfolio and
we are focused on continuing that growth in this important market."

The acquisition was announced in February 2018 and approved by The Bank
of River Oaks shareholders on May 10. Regulatory approvals were received
on July 16, 2018. With the closing of the transaction, The Bank of River
Oaks Chairman R. Andy Lane Jr. will serve as PlainsCapital's Houston
Region Chairman.

"PlainsCapital Bank and The Bank of River Oaks share a service-focused
culture and a commitment to relationship-driven banking that allow us to
smoothly combine our operations," Lane said. "We look forward to
providing our customers with additional technology and lending solutions
as part of PlainsCapital."

The Bank of River Oaks was founded in Houston in 2005 with local
expertise in commercial lending, private banking and healthcare lending.
In addition to Lane, its leadership team consists of Jerry Brewer, who
leads the bank's private banking business, and Mark Troth, who oversees
healthcare lending. Brewer and Troth will serve as PlainsCapital Bank
branch presidents in Houston.

"We are excited to welcome The Bank of River Oaks customers and
employees to the PlainsCapital family as we increase our presence in
this key area," said Alan B. White, vice chairman and co-CEO of Hilltop
Holdings and chairman of PlainsCapital Bank. "They have an excellent
team of dedicated professionals who share our values and have built an
impressive local franchise that we expect to continue to flourish as
part of PlainsCapital Bank."

Hilltop Holdings was advised in the transaction by Wachtell, Lipton,
Rosen and Katz as legal counsel. The Bank of River Oaks was advised by
Performance Trust Capital Partners, LLC as financial advisor and Parrott
Sims McInnis & Foster, PLLC as legal counsel.

About Hilltop Holdings Inc.

Hilltop Holdings is a Dallas-based financial holding company. Its
primary line of business is to provide business and consumer banking
services from offices located throughout Texas through PlainsCapital
Bank. PlainsCapital Bank's wholly owned subsidiary, PrimeLending,
provides residential mortgage lending throughout the United States.
Hilltop Holdings' broker-dealer subsidiaries, Hilltop Securities Inc.
and Hilltop Securities Independent Network Inc., provide a full
complement of securities brokerage, institutional and investment banking
services in addition to clearing services and retail financial advisory.
Through Hilltop Holdings' other wholly owned subsidiary, National Lloyds
Corporation, it provides property and casualty insurance through two
insurance companies, National Lloyds Insurance Company and American
Summit Insurance Company. At June 30, 2018, Hilltop employed
approximately 5,400 people and operated approximately 475 locations in
45 states. Hilltop Holdings' common stock is listed on the New York
Stock Exchange under the symbol "HTH." Find more information at Hilltop-Holdings.com,
PlainsCapital.com,
PrimeLending.com,
NationalLloydsInsurance.com
and HilltopSecurities.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any future
results, performance or achievements anticipated in such statements.
Forward-looking statements speak only as of the date they are made and,
except as required by law, we do not assume any duty to update
forward-looking statements. Such forward-looking statements include, but
are not limited to, statements concerning such things as our plans,
objectives, strategies, expectations and intentions and other statements
that are not statements of historical fact, and may be identified by
words such as "anticipates," "believes," "could," "estimates,"
"expects," "forecasts," "goal," "intends," "may," "might," "plan,"
"probable," "projects," "seeks," "should," "target," "view" or "would"
or the negative of these words and phrases or similar words or phrases.
Factors that could cause our actual results to differ materially from
those described in the forward-looking statements include, among others:
(i) the possibility that any of the anticipated benefits of the proposed
transaction will not be realized or will not be realized within the
expected time period; (ii) the risk that integration of the operations
of The Bank of River Oaks will be materially delayed or will be more
costly or difficult than expected; (iii) the effect of the announcement
of the transaction on customer relationships and operating results; and
(iv) the possibility that the transaction may be more expensive to
complete than anticipated, including as a result of unexpected factors
or events. For a discussion of additional factors that could cause our
actual results to differ materially from those described in the
forward-looking statements, please see the risk factors discussed in our
most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q and other reports that are filed with the Securities and
Exchange Commission. All forward-looking statements are qualified in
their entirety by this cautionary statement.

View Comments and Join the Discussion!