Hilltop Holdings Inc. Announces Pending Retirement of PlainsCapital Bank President and CEO Jerry Schaffner in May 2024

Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced that Jerry Schaffner, President and CEO of Hilltop’s banking subsidiary, PlainsCapital Bank (the “Bank”), is retiring on May 1, 2024. At that time, Hilltop President and CEO Jeremy B. Ford will become CEO of PlainsCapital Bank. In anticipation of the transition, PlainsCapital Chief Operating Officer Brian Heflin has been named President of the Bank, and current Chief Administrative Officer Pete Villarreal has been named Chief Operating Officer effective immediately. Schaffner will continue to serve on PlainsCapital Bank’s board of directors, and Ford will continue to serve as President and CEO of Hilltop and Chairman of PlainsCapital Bank following the transition.

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Jerry Schaffner (Photo: Business Wire)

“Jerry Schaffner has had an astonishing career spanning 42 years and has been a key leader at PlainsCapital since its very beginning in 1988,” Ford said. “As we celebrate his well-deserved retirement and implement our succession plan, I am honored and grateful for the opportunity to build on Jerry’s legacy. This is an exciting time for our organization, as we remain focused on supporting and growing our markets and enhancing the Bank’s connectivity and profitability. We are fortunate to have Brian as President and Pete as COO, as both bring proven tenured leadership to their new roles. I look forward to working with them and the rest of the Bank’s leadership as we continue to serve our customers, employees, communities, and shareholders.”

Schaffner joined PlainsCapital in 1988 as a vice president in Lubbock, Texas. During his tenure, he has served as Chief Lending Officer and Banking Group President, before being named President and CEO in 2010.

“PlainsCapital has been an important part of my life for the past 35 years, and I consider our organization to be part of my extended family,” Schaffner said. “While my decision to retire was a difficult one, I know it is the right time for both me and the Bank. PlainsCapital is in a remarkably strong position, and I have complete confidence in the Bank’s leadership. My time at the Bank has been incredibly rewarding, and I look forward to this exciting next chapter.”