HTH - Hilltop stock dips 8% after Q1 earnings miss on interest rate inflation headwinds

Hilltop (NYSE:HTH) is falling more than 8% in midday trading Friday after the regional lender's first quarter results fell short of Wall Street estimates. "Rising interest rates and inflationary pressures materially impacted our financial results during the first quarter of 2022," the bank. "Additional headwinds during 2022 are expected to include tight housing inventories on mortgage volumes, a return to normalized credit losses and declining deposit balances." Q1 noninterest income of $216.43M fell from $284.84M in the prior quarter and $417.6M in Q1 2021. Noninterest expense of $286.4M in the first quarter vs. $322.2M in Q4 2021 and $366.7M in Q1 2021.  Q1 interest income of $119.54M declined from $123.1M in the previous quarter and $146.92M in Q1 2021. Q1 interest expense of $19.6M compared with $18.8M in Q4 2021 and $41.24M in Q1 of last year.  Q1 EPS of $0.28 missed the consensus of $0.53 and dropped from $0.79 in Q4 2021 and $1.46

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Hilltop stock dips 8% after Q1 earnings miss on interest rate, inflation headwinds