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Sep 30, 2021
Cullen/Frost Bankers Q3 2021 Earnings Report
Cullen/Frost reported solid third quarter results with upward loan trends and diminishing pandemic effects.
Key Takeaways
Cullen/Frost Bankers, Inc. reported a net income available to common shareholders of $106.3 million for the third quarter of 2021, compared to $95.1 million in the third quarter of 2020. Diluted earnings per share were $1.65, up from $1.50 in the prior year. Average loans decreased, but excluding PPP loans, they showed a slight increase. Average deposits increased significantly.
Net income available to common shareholders increased to $106.3 million from $95.1 million year-over-year.
Earnings per diluted common share rose to $1.65, compared to $1.50 in the same quarter last year.
Average loans decreased to $16.2 billion, but excluding PPP loans, showed a slight increase compared to the previous quarter.
Average deposits increased to $39.1 billion, up 19.0 percent compared to the third quarter of 2020.
Forward Guidance
The company is optimistic about its future performance and the economy, with loans trending upward and pandemic-related headwinds diminishing.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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