Cullen/Frost Bankers Q1 2021 Earnings Report
Key Takeaways
Cullen/Frost Bankers, Inc. reported a significant increase in net income available to common shareholders for the first quarter of 2021, reaching $113.9 million compared to $47.2 million in the first quarter of 2020. Earnings per diluted common share also rose to $1.77, up from $0.75 a year earlier. The company saw growth in average loans and deposits, reflecting a strong response to the Paycheck Protection Program and overall customer satisfaction.
Net income available to common shareholders increased to $113.9 million, up from $47.2 million in Q1 2020.
Earnings per diluted common share rose to $1.77, compared to $0.75 in the same period last year.
Average loans increased by $2.7 billion, or 17.9 percent, to $17.7 billion.
Average deposits grew by $8.0 billion, or 29.3 percent, to $35.4 billion.
Cullen/Frost Bankers
Cullen/Frost Bankers
Forward Guidance
Cullen/Frost Bankers, Inc. did not provide specific forward guidance in the earnings report.