Cullen/Frost Bankers Q3 2022 Earnings Report
Key Takeaways
Cullen/Frost Bankers reported a strong third quarter, with net income available to common shareholders increasing to $168.1 million, or $2.59 per diluted share, driven by higher interest rates and organic growth. Average loans increased, and average deposits also saw significant growth compared to the previous year.
Net income available to common shareholders was $168.1 million, compared to $106.3 million in Q3 2021.
Earnings per diluted common share increased to $2.59, a 57.0 percent increase year-over-year.
Net interest income on a taxable-equivalent basis rose by 40.9 percent to $379.5 million.
Average deposits increased by 17.1 percent to $45.8 billion compared to Q3 2021.
Cullen/Frost Bankers
Cullen/Frost Bankers
Forward Guidance
The company did not provide specific forward guidance in this earnings report.