DALLAS--(BUSINESS WIRE)--
Dallas-based Hilltop Holdings Inc. (NYSE: HTH) today announced Co-Chief
Executive Officer and Vice Chairman Alan B. White is retiring, effective
April 1, 2019. White will step down from Hilltop Holdings’ board of
directors and his other leadership roles with Hilltop and PlainsCapital
Bank to begin the next chapter of his life.
White founded Hilltop’s banking subsidiary, PlainsCapital Bank (the
“Bank”), in 1988 and has served as Co-CEO of Hilltop Holdings with
President Jeremy B. Ford since September 2016. Ford will continue in his
role as president and serve as the company’s sole CEO following White’s
retirement. Jerry L. Schaffner will continue to lead PlainsCapital Bank
as president and CEO. There are no additional leadership changes
associated with White’s retirement.
“It has been my privilege to lead PlainsCapital Bank for more than three
decades as the organization grew from one branch in Lubbock to the fifth
largest Texas-based bank with locations across the state,” White said.
“My decision to retire was difficult, but it was made easier knowing
that Hilltop’s leadership will carry on the powerful culture and legacy
of success we have built over the past 31 years. Our company’s financial
strength has us well-positioned for future growth, and I’m excited about
the opportunities that lie ahead for Hilltop.”
“Alan White has been instrumental in building Hilltop Holdings into the
organization that it is today,” Jeremy Ford said. “He has been a mentor
and a friend to me, along with countless other people throughout our
family of companies and in the communities we serve. While we are sad to
see him leave his role with the company, we are proud to carry on his
legacy and remain forever grateful for the leadership he has provided
for so many years.”
During White’s tenure, PlainsCapital Bank has grown from $160 million in
assets to approximately $10 billion as of December 31, 2018. White
oversaw PlainsCapital’s expansion into major markets throughout Texas,
as well as the Bank’s acquisition of national mortgage originator
PrimeLending and national broker-dealer First Southwest Company—now
HilltopSecurities. He was also instrumental in PlainsCapital
Corporation’s 2012 sale to Hilltop Holdings, which laid the foundation
for the current Hilltop franchise and led to Alan joining the company’s
board as vice chairman.
“I have known Alan as a friend and business partner for decades, and it
has been an honor to work with him as we’ve grown PlainsCapital and the
entire Hilltop organization. I wish him well in his much-deserved
retirement,” said Hilltop Holdings Chairman Gerald J. Ford. “Alan is
leaving Hilltop in a strong position with solid leadership and I look
forward to this new chapter in the company’s history.”
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 December 31, 2018, Hilltop employed
approximately 5,200 people and operated approximately 450 locations in
44 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, intentions, growth, strategic
direction 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. For a discussion of certain 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 source version on businesswire.com: https://www.businesswire.com/news/home/20190222005045/en/
Media Contact:
Ben Brooks | 214.252.4047
ben.brooks@hilltop-holdings.com
Investor Relations Contact:
Isabell Novakov | 214.252.4029
inovakov@hilltop-holdings.com
Source: Hilltop Holdings Inc.