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Sep 30, 2022
Cullen/Frost Bankers Q3 2022 Earnings Report
Cullen/Frost Bankers reported third quarter results with increased net income and earnings per share.
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.
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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