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    CULLEN/FROST REPORTS FIRST QUARTER RESULTS

    5/1/25 9:00:00 AM ET
    $CFR
    Major Banks
    Finance
    Get the next $CFR alert in real time by email

    Board increases quarterly common dividend by 5.3 percent to $1.00

    SAN ANTONIO, May 1, 2025 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported first quarter 2025 results. Net income available to common shareholders for the first quarter of 2025 was $149.3 million compared to $134.0 million for the first quarter of 2024. On a per-share basis, net income available to common shareholders for the first quarter of 2025 was $2.30 per diluted common share, compared to $2.06 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.19 percent and 15.54 percent, respectively, for the first quarter of 2025 compared to 1.09 percent and 15.22 percent, respectively, for the same period a year earlier.

    For the first quarter of 2025, net interest income on a taxable-equivalent basis was $436.4 million, up 6.1 percent compared to the same quarter in 2024. Average loans for the first quarter of 2025 increased $1.7 billion, or 8.8 percent, to $20.8 billion, from the $19.1 billion reported for the first quarter a year earlier, and increased $442.9 million, or 2.2 percent, compared to the fourth quarter of 2024. Average deposits for the first quarter increased $933.4 million, or 2.3 percent, to $41.7 billion, compared to the $40.7 billion reported for last year's first quarter, and decreased $227.5 million, or 0.5 percent, compared to the fourth quarter of 2024.

    "In the first quarter we continued to see solid loan growth, and our deposit trends returned to our normal first quarter seasonality. We remain focused on generating continued, sustainable organic growth and expanding to offer the Frost experience to more customers throughout the state, and our strong first quarter results demonstrate that our strategy is working," said Cullen/Frost Chairman and CEO Phil Green.

    "We continue to make investments in our own long-term growth, and those investments are bearing fruit. In the next month we plan to open our 199th location, in the Fort Worth region, and our 200th Frost location in Pflugerville, just north of Austin. At that point we will have increased our total location count by more than 50 percent since we launched our organic expansion program in December of 2018. I want to thank our dedicated employees who are overseeing these expansion efforts, and all of our employees who continue to be the driving force behind our company's performance."

    Noted financial data for the first quarter of 2025 follows:

    • The Common Equity Tier 1, Tier 1 and Total Risk-Based Capital Ratios at the end of the first quarter of 2025 were 13.84 percent, 14.30 percent and 15.76 percent, respectively, and continue to be in excess of well-capitalized levels and exceed Basel III minimum requirements.



    • Net interest income on a taxable-equivalent basis was $436.4 million for the first quarter of 2025, an increase of 6.1 percent, compared to $411.4 million for the first quarter of 2024. Net interest margin was 3.60 percent for the first quarter of 2025 compared to 3.48 percent for the first quarter of 2024 and 3.53 percent for the fourth quarter of 2024.



    • Non-interest income for the first quarter of 2025 totaled $124.0 million, an increase of $12.6 million, or 11.3 percent, from the $111.4 million reported for the first quarter of 2024. Trust and investment management fees increased $3.8 million, or 9.8 percent, compared to the first quarter of 2024. The increase in trust and investment management fees during the first quarter was primarily related to an increase in investment management fees (up $2.9 million) and estate fees (up $429,000). Investment management fees are generally based on the market value of assets within customer accounts and are thus impacted by price movements in the equity and bond markets. Service charges on deposit accounts increased $3.8 million, or 15.4 percent, compared to the first quarter of 2024. The increase in the first quarter was primarily related to increases in commercial and consumer overdraft charges (up $2.3 million), driven by continued increases in the number of active customer accounts, and commercial service charges (up $1.8 million). Insurance commissions and fees increased $2.7 million, or 14.9 percent, compared to the first quarter of 2024. The increase was mainly driven by an increase in benefit plan commissions (up $1.2 million), property and casualty commissions (up $675,000), and property and casualty contingent income (up $632,000).



    • Non-interest expense was $348.1 million for the first quarter of 2025, up $21.8 million, or 6.7 percent, compared to the $326.2 million reported for the first quarter a year earlier. Excluding the additional FDIC special assessment that we accrued during the first quarter of 2024, total non-interest expense during the first quarter of 2025 would have increased by $29.6 million, or 9.3 percent, compared to the same period last year. Salaries and wages expense increased $12.9 million, or 8.7 percent, compared to the first quarter of 2024. The increase in salaries and wages was primarily related to increases in salaries due to annual merit and market increases and to an increase in the number of employees. The increase in the number of employees was partly related to our investment in organic expansion in various markets. Employee benefits expense increased by $6.2 million, or 17.2 percent, compared to the first quarter of 2024. The increase in employee benefits expense was primarily related to increases in 401(k) plan expense (up $3.0 million), payroll taxes (up $1.8 million) and medical/dental benefits expense (up $1.5 million). Technology, furniture, and equipment expense increased $5.1 million, or 14.6 percent, compared to the first quarter of 2024. The increase was primarily related to increased cloud services expense (up $2.5 million), software maintenance (up $1.3 million), and depreciation on furniture and equipment (up $616,000), among other things. Other non-interest expense increased $3.7 million, or 6.1 percent, compared to the first quarter of 2024. The increase included increases in professional services expense (up $1.0 million); donations expense (up $1.0 million), primarily related to a donation to the Frost Charitable Foundation; and business development expense (up $556,000), among other things.



    • For the first quarter of 2025, the company reported a credit loss expense of $13.1 million, and reported net loan charge-offs of $9.7 million. This compares to a credit loss expense of $16.2 million and net loan charge-offs of $14.0 million for the fourth quarter of 2024 and a credit loss expense of $13.7 million and net loan charge-offs of $7.3 million for the first quarter of 2024. The allowance for credit losses on loans as a percentage of total loans was 1.32 percent at March 31, 2025, compared to 1.30 percent at December 31, 2024 and 1.29 percent at March 31, 2024. Non-accrual loans were $83.5 million at the end of the first quarter of 2025, compared to $78.9 million at the end of the fourth quarter of 2024 and $71.5 million at the end of the first quarter of 2024.

    The Cullen/Frost board declared a second-quarter cash dividend of $1.00 per common share, representing a 5.3 percent increase compared to the previous quarterly dividend of $0.95 per share. The dividend on common stock is payable June 13, 2025 to shareholders of record on May 30 of this year. The board of directors also declared a cash dividend of $11.125 per share of Series B Preferred Stock (or $0.278125 per depositary share). The depositary shares representing the Series B Preferred Stock are traded on the NYSE under the symbol "CFR PrB." The Series B Preferred Stock dividend is payable June 16, 2025 to shareholders of record on May 30 of this year.

    Cullen/Frost Bankers, Inc. will host a conference call on Thursday, May 1, 2025, at 1 p.m. Central Time (CT) to discuss the results for the quarter. The media and other interested parties are invited to access the call in a "listen only" mode at 1-877-709-8150 or via webcast on our investor relations website linked below. Playback of the conference call will be available after 5 p.m. CT on the day of the call until midnight Sunday, May 4, 2025 at 1-877-660-6853 with Conference ID # of 13753159. A replay of the call will also be available by webcast at the URL listed below after 5 p.m. CT on the day of the call.

    Cullen/Frost investor relations website: https://investor.frostbank.com/

    Cullen/Frost Bankers, Inc. (NYSE:CFR) is a financial holding company, headquartered in San Antonio, with $52.0 billion in assets at March 31, 2025. One of the 50 largest U.S. banks, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Dallas, Fort Worth, Gulf Coast, Houston, Permian Basin, and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at www.frostbank.com.

    Forward-Looking Statements and Factors that Could Affect Future Results

    Certain statements contained in this Earnings Release that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the SEC, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to: (i) projections of revenues, expenses, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statements of plans, objectives and expectations of Cullen/Frost or its management or Board of Directors, including those relating to products, services or operations; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as "believes," "anticipates," "expects," "intends," "targeted," "continue," "remain," "will," "should," "may," and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

    Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

    • The effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board and the implementation of tariffs and other protectionist trade policies.
    • Inflation, interest rate, securities market, and monetary fluctuations.
    • Local, regional, national, and international economic conditions and the impact they may have on us and our customers and our assessment of that impact.
    • Changes in the financial performance and/or condition of our borrowers.
    • Changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs.
    • Changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements.
    • Changes in our liquidity position.
    • Impairment of our goodwill or other intangible assets.
    • The timely development and acceptance of new products and services and perceived overall value of these products and services by users.
    • Changes in consumer spending, borrowing, and saving habits.
    • Greater than expected costs or difficulties related to the integration of new products and lines of business.
    • Technological changes.
    • The cost and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers.
    • Acquisitions and integration of acquired businesses.
    • Changes in the reliability of our vendors, internal control systems or information systems.
    • Our ability to increase market share and control expenses.
    • Our ability to attract and retain qualified employees.
    • Changes in our organization, compensation, and benefit plans.
    • The soundness of other financial institutions.
    • Volatility and disruption in national and international financial and commodity markets.
    • Changes in the competitive environment in our markets and among banking organizations and other financial service providers.
    • Government intervention in the U.S. financial system.
    • Political or economic instability.
    • Acts of God or of war or terrorism.
    • The potential impact of climate change.
    • The impact of pandemics, epidemics, or any other health-related crisis.
    • The costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals.
    • The effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply.
    • The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters.
    • Our success at managing the risks involved in the foregoing items.

    In addition, financial markets, international relations, and global supply chains have recently been significantly impacted by U.S. trade policies and practices including the implementation of targeted tariffs on imports and the subsequent 90-day pause on certain of those tariffs. Due to the rapidly evolving and changing state of U.S. trade policies, the amount and duration of any tariffs and their ultimate impact on us, our customers, financial markets, and the overall U.S. and global economies is currently uncertain. Nonetheless, prolonged uncertainty, elevated tariff levels or their wide-spread use in U.S. trade policy could weaken economic conditions and adversely impact the ability of borrowers to repay outstanding loans or the value of collateral securing these loans or adversely affect financial markets. To the extent that these risks may have a negative impact on the financial condition of borrowers or financial markets, it could also have a material adverse effect on our business, financial condition and results of operations.

    Forward-looking statements speak only as of the date on which such statements are made. We do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.

    Cullen/Frost Bankers, Inc.

    CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

    (In thousands, except per share amounts)























    2025



    2024



    1st Qtr



    4th Qtr



    3rd Qtr



    2nd Qtr



    1st Qtr

    CONDENSED INCOME STATEMENTS



















    Net interest income

    $ 416,220



    $ 413,518



    $ 404,331



    $ 396,712



    $ 390,051

    Net interest income (1)

    436,404



    433,726



    425,160



    417,621



    411,367

    Credit loss expense

    13,070



    16,162



    19,386



    15,787



    13,650

    Non-interest income:



















    Trust and investment management fees

    42,931



    43,765



    41,016



    41,404



    39,085

    Service charges on deposit accounts

    28,621



    27,909



    27,412



    26,114



    24,795

    Insurance commissions and fees

    21,019



    14,215



    14,839



    13,919



    18,296

    Interchange and card transaction fees

    5,402



    5,764



    5,428



    5,351



    4,474

    Other charges, commissions, and fees

    13,586



    15,208



    13,060



    13,020



    12,060

    Net gain (loss) on securities transactions

    (14)



    (112)



    16



    —



    —

    Other

    12,466



    16,075



    11,936



    11,382



    12,667

      Total non-interest income

    124,011



    122,824



    113,707



    111,190



    111,377





















    Non-interest expense:



















    Salaries and wages

    160,857



    165,520



    156,637



    151,237



    148,000

    Employee benefits

    42,157



    28,614



    29,060



    28,802



    35,970

    Net occupancy

    33,277



    32,102



    32,497



    32,374



    31,778

    Technology, furniture, and equipment

    40,118



    39,775



    37,766



    35,951



    34,995

    Deposit insurance

    7,184



    6,924



    7,238



    8,383



    14,724

    Other

    64,473



    63,232



    60,212



    60,217



    60,750

      Total non-interest expense

    348,066



    336,167



    323,410



    316,964



    326,217

    Income before income taxes

    179,095



    184,013



    175,242



    175,151



    161,561

    Income taxes

    28,173



    29,161



    28,741



    29,652



    25,871

    Net income

    150,922



    154,852



    146,501



    145,499



    135,690

    Preferred stock dividends

    1,669



    1,669



    1,668



    1,669



    1,669

    Net income available to common shareholders

    $ 149,253



    $ 153,183



    $ 144,833



    $ 143,830



    $ 134,021





















    PER COMMON SHARE DATA



















    Earnings per common share - basic

    $       2.30



    $       2.37



    $       2.24



    $       2.21



    $       2.06

    Earnings per common share - diluted

    2.30



    2.36



    2.24



    2.21



    2.06

    Cash dividends per common share

    0.95



    0.95



    0.95



    0.92



    0.92

    Book value per common share at end of quarter

    61.74



    58.46



    62.41



    55.02



    54.36





















    OUTSTANDING COMMON SHARES



















    Period-end common shares

    64,283



    64,197



    63,931



    63,989



    64,251

    Weighted-average common shares - basic

    64,255



    64,116



    63,958



    64,193



    64,216

    Dilutive effect of stock compensation

    74



    121



    127



    140



    156

    Weighted-average common shares - diluted

    64,329



    64,237



    64,085



    64,333



    64,372





















    SELECTED ANNUALIZED RATIOS



















    Return on average assets

    1.19 %



    1.19 %



    1.16 %



    1.18 %



    1.09 %

    Return on average common equity

    15.54



    15.58



    15.48



    17.08



    15.22

    Net interest income to average earning assets

    3.60



    3.53



    3.56



    3.54



    3.48





















    (1) Taxable-equivalent basis assuming a 21% tax rate.

     

    Cullen/Frost Bankers, Inc.

    CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)





    2025



    2024



    1st Qtr



    4th Qtr



    3rd Qtr



    2nd Qtr



    1st Qtr

    BALANCE SHEET SUMMARY



















    ($ in millions)



















    Average Balance:



















    Loans

    $   20,788



    $   20,346



    $   20,084



    $   19,652



    $   19,112

    Earning assets

    47,424



    47,577



    46,100



    45,527



    45,883

    Total assets

    50,925



    51,008



    49,467



    48,960



    49,324

    Non-interest-bearing demand deposits

    13,798



    14,051



    13,659



    13,679



    13,976

    Interest-bearing deposits

    27,860



    27,834



    27,074



    26,831



    26,748

    Total deposits

    41,658



    41,885



    40,733



    40,510



    40,724

    Shareholders' equity

    4,041



    4,057



    3,868



    3,533



    3,687





















    Period-End Balance:



















    Loans

    $   20,904



    $   20,755



    $   20,055



    $   19,996



    $   19,388

    Earning assets

    48,409



    48,878



    47,424



    45,344



    46,164

    Total assets

    52,005



    52,520



    51,008



    48,843



    49,505

    Total deposits

    42,391



    42,723



    41,721



    40,318



    40,806

    Shareholders' equity

    4,114



    3,899



    4,135



    3,666



    3,638

    Adjusted shareholders' equity (1)

    5,243



    5,151



    5,051



    4,975



    4,914





















    ASSET QUALITY



















    ($ in thousands)



















    Allowance for credit losses on loans:

    $ 275,488



    $ 270,151



    $ 263,129



    $ 256,307



    $ 250,297

    As a percentage of period-end loans

    1.32 %



    1.30 %



    1.31 %



    1.28 %



    1.29 %





















    Net charge-offs:

    $     9,691



    $   13,962



    $     9,640



    $     9,726



    $     7,349

    Annualized as a percentage of average loans

    0.19 %



    0.27 %



    0.19 %



    0.20 %



    0.15 %





















    Non-accrual loans:

    $   83,534



    $   78,866



    $ 104,877



    $   74,987



    $   71,515

    As a percentage of total loans

    0.40 %



    0.38 %



    0.52 %



    0.38 %



    0.37 %

    As a percentage of total assets

    0.16



    0.15



    0.21



    0.15



    0.14





















    CONSOLIDATED CAPITAL RATIOS



















    Common Equity Tier 1 Risk-Based Capital Ratio

    13.84 %



    13.62 %



    13.55 %



    13.35 %



    13.41 %

    Tier 1 Risk-Based Capital Ratio

    14.30



    14.07



    14.02



    13.82



    13.89

    Total Risk-Based Capital Ratio

    15.76



    15.53



    15.50



    15.27



    15.35

    Leverage Ratio

    8.84



    8.63



    8.80



    8.62



    8.44

    Equity to Assets Ratio (period-end)

    7.91



    7.42



    8.11



    7.51



    7.35

    Equity to Assets Ratio (average)

    7.94



    7.95



    7.82



    7.22



    7.47





















    (1) Shareholders' equity excluding accumulated other comprehensive income (loss).





    Cullen/Frost Bankers, Inc.

    TAXABLE-EQUIVALENT YIELD/COST AND AVERAGE BALANCES (UNAUDITED)





    2025



    2024



    1st Qtr



    4th Qtr



    3rd Qtr



    2nd Qtr



    1st Qtr

    TAXABLE-EQUIVALENT YIELD/COST(1)



















    Earning Assets:



















    Interest-bearing deposits

    4.39 %



    4.71 %



    5.32 %



    5.40 %



    5.40 %

    Federal funds sold

    4.79



    5.16



    5.65



    5.78



    5.76

    Resell agreements

    4.60



    4.88



    5.48



    5.60



    5.60

    Securities(2)

    3.63



    3.44



    3.40



    3.38



    3.32

    Loans, net of unearned discounts

    6.57



    6.77



    7.12



    7.08



    7.00

    Total earning assets

    4.99



    5.05



    5.26



    5.23



    5.13





















    Interest-Bearing Liabilities:



















    Interest-bearing deposits:



















    Savings and interest checking

    0.24 %



    0.29 %



    0.38 %



    0.39 %



    0.42 %

    Money market deposit accounts

    2.27



    2.47



    2.80



    2.83



    2.82

    Time accounts

    3.97



    4.32



    4.73



    4.77



    4.73

    Total interest-bearing deposits

    1.94



    2.14



    2.41



    2.39



    2.34

    Total deposits

    1.30



    1.42



    1.60



    1.58



    1.54

    Federal funds purchased

    4.40



    4.71



    5.33



    5.39



    5.38

    Repurchase agreements

    3.13



    3.34



    3.72



    3.75



    3.76

    Junior subordinated deferrable interest debentures

    6.32



    6.87



    7.14



    7.47



    7.34

    Subordinated notes payable and other notes

    4.69



    4.69



    4.69



    4.69



    4.69

    Total interest-bearing liabilities

    2.12



    2.32



    2.60



    2.59



    2.54





















    Net interest spread

    2.87



    2.73



    2.66



    2.64



    2.59

    Net interest income to total average earning assets

    3.60



    3.53



    3.56



    3.54



    3.48





















    AVERAGE BALANCES



















    ($ in millions)



















    Assets:



















    Interest-bearing deposits

    $   7,238



    $   8,577



    $   7,073



    $   7,156



    $   7,356

    Federal funds sold

    3



    3



    4



    5



    5

    Resell agreements

    10



    11



    41



    85



    85

    Securities - carrying value(2)

    19,384



    18,640



    18,898



    18,629



    19,324

    Securities - amortized cost(2)

    20,839



    19,944



    20,324



    20,400



    20,813

    Loans, net of unearned discount

    20,788



    20,346



    20,084



    19,652



    19,112

    Total earning assets

    $ 47,424



    $ 47,577



    $ 46,100



    $ 45,527



    $ 45,883





















    Liabilities:



















    Interest-bearing deposits:



















    Savings and interest checking

    $   9,969



    $   9,693



    $   9,470



    $   9,716



    $   9,918

    Money market deposit accounts

    11,432



    11,683



    11,122



    11,009



    11,058

    Time accounts

    6,458



    6,458



    6,482



    6,106



    5,773

    Total interest-bearing deposits

    27,860



    27,834



    27,074



    26,831



    26,748

    Total deposits

    41,658



    41,885



    40,733



    40,510



    40,724

    Federal funds purchased

    18



    24



    20



    40



    33

    Repurchase agreements

    4,147



    3,946



    3,777



    3,827



    3,787

    Junior subordinated deferrable interest debentures

    123



    123



    123



    123



    123

    Subordinated notes payable and other notes

    100



    100



    100



    100



    100

    Total interest-bearing funds

    $ 32,248



    $ 32,027



    $ 31,094



    $ 30,921



    $ 30,791





















    (1) Taxable-equivalent basis assuming a 21% tax rate.

    (2) Average securities include unrealized gains and losses on securities available for sale while yields are based on average amortized cost.

    A.B. Mendez

    Investor Relations

    210.220.5234

    or

    Bill Day

    Media Relations

    210.220.5427

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    • CULLEN/FROST REPORTS FIRST QUARTER RESULTS

      Board increases quarterly common dividend by 5.3 percent to $1.00 SAN ANTONIO, May 1, 2025 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported first quarter 2025 results. Net income available to common shareholders for the first quarter of 2025 was $149.3 million compared to $134.0 million for the first quarter of 2024. On a per-share basis, net income available to common shareholders for the first quarter of 2025 was $2.30 per diluted common share, compared to $2.06 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.19 percent and 15.54 percent, respectively, for the first quarter of 2025 compared to 1.09 percent and

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    • Cullen/Frost Bankers, Inc. Hosts First Quarter 2025 Earnings Conference Call

      SAN ANTONIO, April 8, 2025 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, May 1, 2025 to discuss first quarter 2025 earnings. Earnings Release:  The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast:  The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Daniel J. Geddes, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a questio

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      SAN ANTONIO, March 28, 2025 /PRNewswire/ -- For the 16th consecutive year, Frost Bank received the highest ranking for retail banking customer satisfaction in Texas, according to the J.D. Power 2025 U.S. Retail Banking Satisfaction Study℠.  The study evaluates retail banking customer satisfaction with national and regional banks across the United States. With an overall satisfaction index score of 745 – 68 points higher than the Texas region average – Frost ranked highest in customer satisfaction among retail banks in Texas. In addition to the top overall ranking, Frost ranked

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    • JERRY SALINAS, FROST'S CHIEF FINANCIAL OFFICER, TO RETIRE AT END OF THIS YEAR

      SAN ANTONIO, July 1, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) announced today that Jerry Salinas, group executive vice president & chief financial officer of Cullen/Frost and Frost Bank, has decided to retire at the end of 2024. Salinas has worked at Frost since 1986 in several positions, including being named bank and corporate controller in 1989 and treasurer in 1997. He became senior executive vice president and treasurer in 2001 and was named to his current position in 2015. "If you think of any major initiative that the company has undertaken in the past four decades –acquisitions, major transactions, our expansion projects – Jerry played an important role in all of th

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    • Frost Bank Appoints New General Counsel

      SAN ANTONIO, Aug. 9, 2021 /PRNewswire/ -- Frost Bank announced today the addition of C.E. Rhodes to its executive team as group executive vice president, general counsel and corporate secretary. Rhodes most recently was managing director and chief compliance officer at New Fortress Energy Inc. He started his legal career as a commercial litigator at the law firm of Haynes and Boone LLP. He later spent more than 11 years in the Legal Department at Baker Hughes, where he was a vice president and an associate general counsel for global operations. He also served as corporate sen

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    • Chief Accounting Officer Henson Matthew Bradley bought $31,659 worth of Depositary Share (1,870 units at $16.93), increasing direct ownership by 51% to 5,545 units (SEC Form 4)

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    • SEC Form SC 13G/A filed by Cullen/Frost Bankers Inc. (Amendment)

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    • Jefferies initiated coverage on Cullen/Frost with a new price target

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    • CULLEN/FROST REPORTS FIRST QUARTER RESULTS

      Board increases quarterly common dividend by 5.3 percent to $1.00 SAN ANTONIO, May 1, 2025 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported first quarter 2025 results. Net income available to common shareholders for the first quarter of 2025 was $149.3 million compared to $134.0 million for the first quarter of 2024. On a per-share basis, net income available to common shareholders for the first quarter of 2025 was $2.30 per diluted common share, compared to $2.06 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.19 percent and 15.54 percent, respectively, for the first quarter of 2025 compared to 1.09 percent and

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      SAN ANTONIO, April 8, 2025 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, May 1, 2025 to discuss first quarter 2025 earnings. Earnings Release:  The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast:  The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Daniel J. Geddes, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a questio

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    • SEC Form 13F-HR filed by Cullen/Frost Bankers Inc.

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    • New insider Pullin Ericka Lynn claimed ownership of 5,486 units of Common Stock (SEC Form 3)

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    • SEC Form 4 filed by Director Comparin Cynthia Jane

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