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Sep 30, 2024
Cullen/Frost Bankers Q3 2024 Earnings Report
Cullen/Frost reported third quarter results with a decrease in net income but an increase in net interest income.
Key Takeaways
Cullen/Frost Bankers, Inc. reported a decrease in net income available to common shareholders for the third quarter of 2024 compared to the same period in 2023. However, net interest income on a taxable-equivalent basis increased. Average loans also increased, while average deposits saw a slight decrease year-over-year.
Net income available to common shareholders was $144.8 million, down from $154.0 million in Q3 2023.
Earnings per diluted common share were $2.24, compared to $2.38 in the prior year.
Net interest income on a taxable-equivalent basis increased by 4.4% to $425.2 million.
Average loans increased by 11.8% to $20.1 billion, while average deposits decreased slightly by 0.2% to $40.7 billion.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
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Avg. Return Before/After Earnings
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