Cullen/Frost Bankers Q1 2022 Earnings Report
Key Takeaways
Cullen/Frost Bankers, Inc. reported first quarter 2022 results with net income available to common shareholders of $97.4 million, or $1.50 per diluted common share. Average loans decreased, but excluding PPP loans, average loans increased. Average deposits increased significantly.
Net income available to common shareholders for the first quarter of 2022 was $97.4 million compared to $113.9 million in the first quarter of 2021.
Net income available to common shareholders for the first quarter of 2022 was $1.50 per diluted common share, compared to $1.77 per diluted common share reported a year earlier.
Net interest income on a taxable-equivalent basis was $272.2 million, up 3.1 percent, compared to the same quarter in 2021.
Average deposits for the quarter were $43.0 billion, up $7.6 billion, or 21.3 percent, compared to the $35.4 billion reported for last year's first quarter.
Cullen/Frost Bankers
Cullen/Frost Bankers
Forward Guidance
The company did not provide forward guidance in the earnings report.