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Sep 30, 2023
Cullen/Frost Bankers Q3 2023 Earnings Report
Cullen/Frost Bankers reported a decrease in net income but an increase in net interest income for Q3 2023.
Key Takeaways
Cullen/Frost Bankers reported third quarter 2023 results with net income available to common shareholders of $154.0 million, a decrease compared to $168.1 million in the third quarter of 2022. However, net interest income on a taxable-equivalent basis increased by 7.3 percent to $407.4 million compared to the same quarter in 2022.
Net income available to common shareholders for Q3 2023 was $154.0 million, compared to $168.1 million in Q3 2022.
Earnings per diluted common share decreased to $2.38 from $2.59 year-over-year.
Net interest income on a taxable-equivalent basis increased by 7.3 percent to $407.4 million compared to the same quarter in 2022.
Average loans increased by $1.1 billion, or 6.8 percent, to $18.0 billion.
Forward Guidance
The company is focused on making sound institutional decisions about near-term investments that will support sustained growth and success over the longer term.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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