1. H i l lt o p S e c u r i t i e s
C o r p o r a t e O v e r v i e w
On Higher Ground

2. HilltopSecurities – On Higher Ground
At HilltopSecurities, our goal is to provide solutions
tailored to meet your specific objectives. Ideas you may
not have considered before. Service that exceeds your
expectations. We offer a broad range of financial guidance,
services and solutions for both public and private
institutions, issuers and investors, delivered through a team
of experienced professionals dedicated to your success.
A Trusted Legacy of Service
HilltopSecurities represents the realization of a vision and
a new beginning – the combination of two established,
respected and successful broker-dealers to create a new
firm, greater than the sum of its parts.
In January of 2015, Hilltop Holdings Inc. (NYSE: HTH),
a Texas-based diversified financial holding company
acquired Southwest Securities, Inc., a regional full-service
broker-dealer founded in 1972. Hilltop Holdings is the
parent company of PlainsCapital Bank, the 5th largest
Texas-based bank by deposits; PrimeLending, a mortgage
originator ranked 6th in the U.S. for purchase units in
2014; and National Lloyds Corporation, a niche property
and casualty underwriter providing homeowners
insurance for low value dwellings.
In addition, Hilltop Holdings was the parent of
FirstSouthwest Company, a broker-dealer established
in 1946 and renowned for its nationwide public
finance advisory business. With complementary
business lines and a shared history representing more
than 110 years of industry experience, Southwest
Securities and FirstSouthwest were combined under the
HilltopSecurities name to create a new, stronger firm
backed by a well-capitalized, publicly traded parent
company focused on building a lasting legacy.
HilltopSecurities offers specialized knowledge and insight
to clients through a broad range of industries and sectors:
▪ Our Public Finance professionals serve governments,
school districts, authorities, nonprofits and privately-held
entities with financial advisory, asset management and
underwriting services.
▪ Our Capital Markets group serves individual and
institutional investors with dedicated expertise in trading,
underwriting and sales of a broad range of taxable and
municipal fixed income securities, as well as equities.
▪ Our Structured Finance professionals serve clients
through three primary business segments: Housing
Advisory, Mortgage Trading/Securitization, and
Structured Products.
▪ Our Wealth Management financial advisors serve
individual investors through our Private Client Group
offices in Texas, Oklahoma and California, and through
the independent advisors of our affiliate broker-dealer,
Hilltop Securities Independent Network Inc.
▪ Our Clearing Services group provides clearing
solutions for correspondent broker-dealers and registered
investment advisers across the country.
▪ Our Corporate Finance investment bankers serve
middle market businesses with comprehensive advisory
services across a broad range of corporate transactions
and initiatives.
▪ Our Securities Lending professionals operate a conduit,
or matched book, securities lending business, executing
borrow and loan transactions on a full range of securities.
Why HilltopSecurities?
HilltopSecurities serves as a trusted advocate for our
clients nationwide, delivering a wide range of financial
guidance, services and solutions to individuals,
businesses and communities. Our expertise is focused
exclusively upon achieving our clients’ definition of
success through relationships that exhibit:
Relationships. Expertise. Passion.

3. Integrity
Our committed and dedicated professionals have decades
of experience building relationships and trust with
individuals, families, businesses and institutions. Our
values are aligned with serving our clients’ best interests
in order to achieve their definition of success.
Collaboration
The combination of FirstSouthwest and Southwest
Securities to create HilltopSecurities, brings together
teams of highly experienced financial professionals
devoted to working together to build and nurture long-
term client relationships.
Adaptability
We recognize the importance of delivering customized,
innovative solutions for our clients that challenge the
status quo. We seek new possibilities and evolve our
technology and skills as change occurs.
Respect
Constructive and respectful communication is
instrumental in maintaining the culture of success we
have built. We recognize and appreciate the unique
capabilities, traditions and qualities of others.
Excellence
We are committed to putting your needs first and
providing you with the individual attention that you
deserve, with the goal of routinely exceeding your
expectations. Our high level of personal, reliable service is
a cornerstone of our firm. HilltopSecurities professionals
are aware of the local and regional issues that affect
our clients and we always seek to provide a higher level
of service and an uncommon attention to detail. We
support our local communities and are proactive in
addressing local challenges and opportunities as they
arise. Our clients also benefit from our experience with
hundreds of municipalities, agencies and authorities at
the state, county and city level across the nation. When
specialized knowledge is needed, our clients have access
to HilltopSecurities professionals across the country.
Hilltop Holdings Family of Companies
Hilltop Holdings is a Dallas-based financial holding
company. Its wholly owned subsidiary, PlainsCapital
Corporation, a regional commercial banking franchise,
has two operating subsidiaries: PlainsCapital Bank and
PrimeLending. Under Hilltop Securities Holdings LLC,
HilltopSecurities and HilltopSecurities Independent
Network 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. Hilltop employs approximately 5,400
people in more than 400 locations across the country.
Hilltop Holdings’ common stock is listed on the New York
Stock Exchange under the symbol “HTH.”

4. HilltopSecurities – On Higher Ground
Public Finance
Through our public finance business, we serve as financial
advisor or underwriter to local and state governments,
school districts, authorities, nonprofits and privately-held
entities across the United States. Our municipal advisory
business carries the FirstSouthwest name as a division of
HilltopSecurities.
With bankers and advisors across the country,
HilltopSecurities provides our clients with teams of
professionals who have specialized sector expertise
coupled with local and regional expertise.
Financial Advisory
FirstSouthwest, a division of HilltopSecurities, is a leading
financial advisor for all types of entities who issue debt
for public purposes, as well as private and nonprofit
organizations. We have consistently ranked among the
top financial advisors in the nation for issuances of debt,
based both on number and par value of issues, according
to Ipreo Muni Analytics.
We maintain deep and proven advisory expertise across a
variety of public finance sectors including:
▪ General Obligation
▪ Water and Sewer
▪ School Districts and Higher Education
▪ Airports, Rapid Transits, Toll Roads and Ports
▪ Healthcare
▪ Housing
▪ Public Power
▪ Public-Private Partnerships (P3)
▪ Special Districts (including MUDs)
▪ State Revolving Funds
▪ Convention Centers/Hotel
As a broker-dealer affiliated municipal advisor, we are
a participant and not just an observer in the municipal
market. Our firsthand knowledge is a key advantage in
the pricing, structuring and timing of an issue.
Underwriting
HilltopSecurities provides underwriting expertise for
municipal clients. Our direct participation in the capital
markets provides our clients with the real-time market
information to help them make more informed decisions
about their bond issues.
Continuing Disclosure
We strive to ensure our clients can easily access the capital
markets. Our experienced, in-house team partners with
hundreds of clients each year to help them meet the
industry’s increasingly important disclosure requirements.
Asset Management
FirstSouthwest Asset Management, a Registered
Investment Adviser, provides investment management
services, government investment pool administration and
arbitrage rebate services to clients nationwide.

5. Capital Markets
Our Capital Markets professionals leverage in-house, real-
time access to market experts and participants to inform
both their own thinking and that of our clients. Our
clients enjoy many benefits, including access to diverse
products, personalized service, responsiveness and advice
with integrity. We have built a broad distribution network
and provide reliable access to a full spectrum of municipal,
corporate ABS/CMBS/MBS, including TBA mortgage
securities, U.S. treasuries, agency debentures, equities and
special products.
Trading
With trading desks in major markets across the country,
including Dallas, Houston, New York, Boston, Chicago,
Los Angeles, Denver, and Ft. Lauderdale, HilltopSecurities’
secondary trading group combines both electronic and
voice trading to give our customers superior execution.
Clients have direct access to the capital markets through
our informed and experienced professionals.
We work closely with mutual funds, insurance companies,
banks, corporations, asset managers, arbitrage accounts
hedge funds and mortgage originators to understand
their needs so we can remain proactive in sharing
new opportunities.
Underwriting
Through our legacy businesses, HilltopSecurities has
provided underwriting expertise for clients across the
country for more than 70 years. Underwriting municipal
debt, Agency debentures for GSE’s as well as preferred
securities helps support our diverse customer base with
their investment needs.
Sales
HilltopSecurities has institutional sales offices in 11 U.S.
cities, offering real-time and accurate market information.
Market insight combined with detailed analytics helps
our institutional sales staff add value.
Structured Finance
Our Structured Finance department provides a broad
range of products and services to serve clients through
three primary business areas: Housing Advisory, Mortgage
Trading/Securitization, and Structured Products.
Housing Advisory
For more than 50 years our dedicated housing
professionals have partnered with state and local housing
issuers across the country to help families achieve the
dream of home ownership. Our history as an innovator in
single-family and multifamily transactions has garnered
proven results for our clients.
Mortgage Trading/Securitization
The leaders of the HilltopSecurities team pioneered the
development of Market Rate TBA programs for housing
finance agencies (HFAs). As the TBA Program provider
for 11 HFAs, we have the capital, technology and expertise
to help agencies structure and implement a no-risk
pipeline management market rate TBA program to drive
mortgage production. Our expertise in Mortgage Trading/
Securitizations provides HFA clients with a multitude of
options for the best execution of their new and seasoned
mortgage assets.
Structured Products
We offer deep experience in helping public sector clients
create a comprehensive financing, investment and hedging
approach to balance sheet management. Our approach
identifies hedging alternatives, analyzes the risk factors,
explains costs and is instrumental in implementing the
structures that meet each client’s needs. We offer advisory
services in asset, liability and commodity products which
are fundamentally conservative and always reflective of the
responsibilities associated with public sector transactions.

6. HilltopSecurities – On Higher Ground
Wealth Management
The wealth management professionals of HilltopSecurities’
Private Client Group and HilltopSecurities Independent
Network serve individuals and families, delivering
personal, reliable financial advisory services and
investment programs to meet their clients’ goals.
Clients have access to our full-service advisory and
wealth management platform to build investment
plans and portfolios designed for their specific needs.
Our experienced financial professionals focus on
understanding client needs so they can deliver a high
level of individualized, personal service to assist them in
reaching their financial objectives.
Our comprehensive financial advisory services include:
▪ A full array of equity and fixed income securities
▪ Mutual funds and exchange traded products
▪ Money market funds
▪ FDIC-insured deposits
▪ Alternative investments
▪ Insurance products
▪ Futures and commodities
▪ Managed accounts
For investors seeking to protect and grow the assets they have
built through a lifetime of hard work, security is often their
most highly valued commodity. HilltopSecurities’ Private
Client Group and HilltopSecurities Independent Network
have the tools, expertise and commitment to personal service
necessary to build what their clients value most.
Securities Lending
Our Securities Lending division operates a conduit or
matched book business. HilltopSecurities’ experienced
securities lending professionals rely on their extensive
network of relationships to facilitate borrow and loan
transactions on a full range of securities with registered
broker-dealers nationwide.
Clearing Services
Our correspondent clearing services provide clients with
the technology they expect along with highly responsive
and personal service, making HilltopSecurities a true
partner in the success of their business.
Our services are designed for broker-dealers and
registered investment advisors who value:
▪ Real-time access to client data
▪ Reliable, seamless service
▪ Flexible, efficient processing
▪ Long-term stability
▪ Personable culture and service
We offer a diverse suite of products and technology
solutions to provide client-specific responses that address
the individual needs of our clients. We maintain an
ongoing understanding of each correspondent’s business
enabling us to rapidly adapt technology and processes to
accommodate their unique and ever-changing clearing,
reporting and regulatory compliance needs.
We continually request and welcome the input of our
correspondent partners to shape the products and
services we offer. This exchange of ideas and free flow
of communication enables HilltopSecurities to deliver
solutions designed specifically to meet our customers’ real
world challenges.

7. Investment Advisor Services
For both registered investment advisers and “hybrid”
broker-dealer firms offering advisory services,
HilltopSecurities offers clearing and custody solutions
customized to each client’s unique needs.
Cash Management
We offer several cash management solutions to help our
clients’ customers make the most of their accounts.
Wealth Management Services
HilltopSecurities provides access to a variety of innovative
wealth management products and services.
Training
We offer robust initial and ongoing training “webinars” on
back-office operations and platforms, as well as a video
library of tutorials available anytime through our Advisor
and Client platforms to educate our clients about system
enhancements and enable them to fully use all of the
features available to them.
Corporate Finance
Our Corporate Finance group is comprised of
experienced professionals with extensive advisory and
industry expertise who have a commitment to delivering
excellence to our clients. We provide our clients with
comprehensive advisory services across a broad range of
corporate transactions and initiatives.
Buy and Sell-Side Advisory
The extensive transaction experience and industry
knowledge of our professionals enable us to provide our
clients with comprehensive advisory services across all
stages of buy- and sell-side transactions.
Private Placements
Whether it’s a desire for growth capital, asset-based
financing or a variety of other capital needs, we have the
experience and connections needed to help companies
find appropriate financing. Our team is well connected
within the marketplace and has relationships with
multiple types of capital providers. We know that a capital
limitation is a hindrance to success and innovation, and
we develop strategies to overcome these obstacles.
Financial Advisory
Our Corporate Finance group prides itself on its ability
to serve as financial advisor to companies in all lifecycle
stages. We understand our clients and their needs and
develop strategies to maximize shareholder value. Our
team is experienced and equipped to advise companies in
a wide range of situations.
The Hilltop Difference
At HilltopSecurities, our excellence begins with our
people. Our employees have an average tenure of more
than a decade. This means you have access to a dedicated,
experienced team of professionals and can feel confident
that our relationship will deliver the service, solutions,
and results you need, when you need them.

8. ©2016 Hilltop Securities Inc. | All rights reserved | Member NYSE/FINRA/SIPC | EXE0116010
HilltopSecurities.com
800.678.3792
Hilltop Securities Inc.
Headquarters
1201 Elm Street, Suite 3500
Dallas, Texas 75270