Board declares fourth quarter dividend on common and preferred stock
SAN ANTONIO, Oct. 29, 2026 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported third quarter 2026 results.
Net income available to common shareholders for the third quarter of 2026 was $178.5 million, compared to $172.7 million for the third quarter of 2025. On a per-share basis, net income available to common shareholders for the third quarter of 2026 was $2.84 per diluted common share, compared to $2.67 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.31 percent and 16.16 percent, respectively, for the third quarter of 2026, compared to 1.32 percent and 16.72 percent, respectively, for the same period a year earlier.
For the third quarter of 2026, net interest income on a taxable-equivalent basis was $490.8 million, up 5.8 percent compared to the same quarter in 2025. Average loans for the third quarter of 2026 increased $1.9 billion, or 9.0 percent, to $23.4 billion, from the $21.5 billion reported for the third quarter a year earlier, and increased $756.4 million, or 3.3 percent, compared to the second quarter of 2026. Average deposits for the third quarter increased $1.5 billion, or 3.6 percent, to $43.6 billion, compared to the $42.1 billion reported for last year's third quarter, and increased $959.2 million, or 2.3 percent, compared to the second quarter of 2026.
"During the third quarter, Frost Bankers continued their outstanding execution of our organic growth strategy, and as a result, we saw another quarter of accelerating growth in average loan and deposit volumes," said Cullen/Frost Chairman and CEO, Phil Green.
"As people and businesses continue to move into Texas from other parts of the country, we see great opportunity to continue extending the Frost experience to more new Texans. That includes retail customers and businesses new to the state alike. During the third quarter we kept up a strong pace of new customer additions, growing the overall banking customer base at a five percent yearly rate. In our Wealth Management business, we grew managed customer accounts by more than five percent compared to a year ago. And our Frost Insurance Agency increased commercial customers by over ten percent compared to the third quarter of 2025.
"I want to recognize the outstanding focus and execution of our employees throughout the state as they meet the challenge of competing and winning against competitors old and new."
For the first nine months of 2026, net income available to common shareholders was $518.2 million, up 8.6 percent compared to $477.3 million for the first nine months of 2025. On a per-share basis, net income available to common shareholders for the first nine months of 2026 was $8.19, up 11.3 percent compared to $7.36 in the year-earlier period. Returns on average assets and average common equity for the first nine months of 2026 were 1.31 percent and 15.57 percent, respectively, compared to 1.24 percent and 15.98 percent, respectively, for the same period in 2025.
Noted financial data for the third quarter of 2026 follows:
- The Common Equity Tier 1, Tier 1 and Total Risk-Based Capital Ratios at the end of the third quarter of 2026 were 13.76 percent, 14.18 percent and 15.50 percent, respectively, and continue to be in excess of well-capitalized levels and exceed Basel III minimum requirements.
- During the third quarter, our base of customer households continued to grow. Total households, including consumer and commercial customers, grew by 5.4 percent from September, 2025 to September, 2026.
- Net interest income on a taxable-equivalent basis was $490.8 million for the third quarter of 2026, an increase of 5.8 percent, compared to $463.7 million for the third quarter of 2025. Net interest margin was 3.78 percent for the third quarter of 2026 compared to 3.69 percent for the third quarter of 2025 and 3.75 percent for the second quarter of 2026.
- Non-interest income for the third quarter of 2026 totaled $136.0 million, an increase of $10.3 million, or 8.2 percent, from the $125.6 million reported for the third quarter of 2025. Trust and investment management fees increased $4.6 million, or 10.3 percent, compared to the third quarter of 2025. The increase in trust and investment management fees during the third quarter was primarily related to increases in investment management fees (up $3.6 million) and oil and gas fees (up $1.6 million). Other non-interest income increased $7.4 million, or 54.5 percent, compared to the third quarter of 2025. The increase during the third quarter was primarily related to $7.6 million of gains on the sale of excess bank properties.
- Non-interest expense was $377.2 million for the third quarter of 2026, up $24.7 million, or 7.0 percent, compared to the $352.5 million reported for the third quarter a year earlier. Salaries and wages expense increased $13.0 million, or 7.7 percent, compared to the third quarter of 2025. The increase in salaries and wages was primarily related to increases in salaries due to annual merit and market increases and growth in the number of employees, driven in part by investments in organic expansion across various markets. Other non-interest expense increased $8.1 million, or 12.5 percent, compared to the third quarter of 2025. The increase included increases in advertising/promotions expense (up $6.4 million). Technology, furniture, and equipment expense increased $2.7 million, or 6.1 percent, compared to the third quarter of 2025. The increase was primarily related to increased cloud services expense (up $1.4 million) and software maintenance expense (up $828,000).
- For the third quarter of 2026, the company reported a credit loss expense of $12.1 million and reported net charge-offs of $8.4 million. This compares to a credit loss expense of $9.8 million and net charge-offs of $9.5 million for the second quarter of 2026 and a credit loss expense of $6.8 million and net charge-offs of $6.6 million for the third quarter of 2025. The allowance for credit losses on loans as a percentage of total loans was 1.23 percent at September 30, 2026, compared to 1.23 percent at the end of the second quarter of 2026 and 1.31 percent at the end of the third quarter of 2025. Non-accrual loans were $63.7 million at the end of the third quarter of 2026, compared to $112.7 million at the end of the second quarter of 2026 and $44.8 million at the end of the third quarter of 2025.
- During the third quarter, in addition to the above-mentioned $7.6 million in gains on the sale of excess bank properties, we also recognized $7.5 million in losses on sales of securities.
- During the third quarter of 2026, we repurchased 92,700 of our common shares at a total cost of $15.0 million under our board-authorized stock repurchase plan. As of the end of the third quarter, we had $125.0 million remaining under our current $300 million repurchase authorization, which expires in January 2027.
The Cullen/Frost board declared a fourth-quarter cash dividend of $1.03 per common share. The dividend on common stock is payable December 15, 2026 to shareholders of record on November 30 of this year. The board of directors also declared a cash dividend of $11.125 per share of Series B Preferred Stock (or $0.278125 per depositary share). The depositary shares representing the Series B Preferred Stock are traded on the NYSE under the symbol "CFR PrB." The Series B Preferred Stock dividend is payable December 15, 2026 to shareholders of record on November 30 of this year.
Cullen/Frost Bankers, Inc. will host a conference call on Thursday, October 29, 2026, at 1 p.m. Central Time (CT) to discuss the results for the quarter. The media and other interested parties are invited to access the call in a "listen only" mode at 1-877-709-8150 or via webcast on our investor relations website linked below. Playback of the conference call will be available after 5 p.m. CT on the day of the call until midnight Sunday, November 1, 2026 at 1-877-660-6853 with Conference ID # of 13763286. A replay of the call will also be available by webcast at the URL listed below after 5 p.m. CT on the day of the call.
Cullen/Frost investor relations website: https://investor.frostbank.com/
Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $54.5 billion in assets at September 30, 2026. One of the 50 largest U.S. banks, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Dallas, Fort Worth, Gulf Coast (which includes Corpus Christi, Victoria and the Rio Grande Valley), Houston, Permian Basin, and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at www.frostbank.com.
Forward-Looking Statements and Factors that Could Affect Future Results
Certain statements contained in this Earnings Release that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the SEC, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to: (i) projections of revenues, expenses, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statements of plans, objectives and expectations of Cullen/Frost or its management or Board of Directors, including those relating to products, services or operations; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as "believes," "anticipates," "expects," "intends," "targeted," "continue," "remain," "will," "should," "may," and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.
Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:
- The effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board and the implementation of tariffs and other protectionist trade policies.
- Inflation, interest rate, securities market, and monetary fluctuations.
- Local, regional, national, and international economic conditions and the impact they may have on us and our customers and our assessment of that impact.
- Changes in the financial performance and/or condition of our borrowers.
- Changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs.
- Changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements.
- Changes in our liquidity position.
- Impairment of our goodwill or other intangible assets.
- The timely development and acceptance of new products and services and perceived overall value of these products and services by users.
- Changes in consumer spending, borrowing, and saving habits.
- Greater than expected costs or difficulties related to the integration of new products and lines of business.
- Technological changes, including advances in artificial intelligence and quantum computing.
- The cost and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers.
- Acquisitions and integration of acquired businesses.
- Changes in the reliability of our vendors, internal control systems or information systems.
- Our ability to increase market share and control expenses.
- Our ability to attract and retain qualified employees.
- Changes in our organization, compensation, and benefit plans.
- The soundness of other financial institutions.
- Volatility and disruption in national and international financial and commodity markets.
- Changes in the competitive environment in our markets and among banking organizations and other financial service providers.
- Government intervention in the U.S. financial system.
- Political or economic instability.
- Acts of God or of war or terrorism.
- The potential impact of climate change.
- The impact of pandemics, epidemics, or any other health-related crisis.
- The costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals.
- The effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply.
- The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters.
- Our success at managing the risks involved in the foregoing items.
In addition, ongoing geopolitical tensions, armed conflicts, regional instability, sanctions, cyber-related threats, and attacks affecting commercial shipping and critical infrastructure have increased geopolitical uncertainty and contributed to volatility in financial, energy, and commodity markets. Military conflict in the Middle East has disrupted energy markets and shipping routes, including through the Strait of Hormuz, while the ongoing Russia-Ukraine war and other geopolitical tensions continue to present risks to global economic and market conditions. Further escalation, including disruptions to shipping routes, energy supplies, critical infrastructure, or global supply chains, or expanded sanctions, trade restrictions, or cyber-related incidents, could adversely affect economic activity, inflation, market conditions, and borrower credit quality. These developments could also adversely affect our funding profile, liquidity, customer and counterparty credit quality, and the value of certain financial instruments and could have a material adverse effect on our business, financial condition, results of operations, and prospects. The timing, magnitude, duration, and geographic scope of these developments remain highly uncertain.
Furthermore, financial markets, international relations, and global supply chains continue to be affected by evolving trade policies and related legal, regulatory, and administrative developments. In February 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act does not authorize the President to impose tariffs, invalidating tariffs previously imposed under that authority. The U.S. government subsequently implemented additional tariff measures under other statutory authorities, certain of which remain subject to legal challenges. Uncertainty regarding U.S. trade policy and the economic effects of tariffs and other trade restrictions could affect business confidence, capital investment, customer cash flows, supply chains, commodity prices, inflation, and market volatility. These developments could adversely affect the financial condition and operating performance of customers, particularly those in trade-sensitive industries, and increase our exposure to credit, market, liquidity, operational, compliance, and reputational risks. If these developments adversely affect borrower credit quality, market stability, or broader economic conditions, they could have a material adverse effect on our business, financial condition, results of operations, and prospects.
Forward-looking statements speak only as of the date on which such statements are made. We do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.
Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
(In thousands, except per share amounts)
2026 2025
3rd Qtr 2nd Qtr 1st Qtr 4th Qtr 3rd Qtr
CONDENSED INCOME STATEMENTS
---
Net interest income $467,867 $447,728 $438,522 $448,707 $441,618
Net interest income (1) 490,767 470,066 460,792 471,218 463,667
Credit loss expense 12,090 9,767 6,745 11,224 6,779
Non-interest income:
Trust and investment management fees 49,472 47,643 47,957 45,651 44,846
Service charges on deposit accounts 36,304 34,177 32,157 32,360 31,440
Insurance commissions and fees 15,838 14,166 22,075 15,180 15,424
Interchange and card transaction fees 6,843 6,546 6,532 6,290 5,547
Other charges, commissions, and fees 13,911 13,787 13,268 15,228 14,730
Net gain (loss) on securities transactions (7,512) (836)
Other 21,106 11,962 14,326 18,291 13,660
Total non-interest income 135,962 128,281 136,315 132,164 125,647
Non-interest expense:
Salaries and wages 182,183 172,955 166,190 182,486 169,155
Employee benefits 33,649 35,156 44,656 36,653 34,465
Net occupancy 35,848 35,223 34,753 34,341 34,682
Technology, furniture, and equipment 46,145 42,564 41,674 41,575 43,479
Deposit insurance 6,941 6,305 7,203 (1,350) 6,328
Other 72,434 69,497 71,210 77,963 64,369
Total non-interest expense 377,200 361,700 365,686 371,668 352,478
Income before income taxes 214,539 204,542 202,406 197,979 208,008
Income taxes 34,330 32,483 31,419 31,727 33,628
Net income 180,209 172,059 170,987 166,252 174,380
Preferred stock dividends 1,668 1,669 1,669 1,669 1,668
Net income available to common shareholders $
178,541 $
170,390 $
169,318 $
164,583 $
172,712
PER COMMON SHARE DATA
---
Earnings per common share - basic $
2.84 $
2.70 $
2.65 $
2.56 $
2.67
Earnings per common share - diluted 2.84 2.70 2.65 2.56 2.67
Cash dividends per common share 1.03 1.03 1.00 1.00 1.00
Book value per common share at end of quarter 61.70 72.04 69.83 69.96 67.64
OUTSTANDING COMMON SHARES
---
Period-end common shares 62,056 62,149 62,797 63,287 63,801
Weighted-average common shares - basic 62,117 62,455 63,101 63,588 64,080
Dilutive effect of stock compensation - 16 41
Weighted-average common shares - diluted 62,117 62,455 63,101 63,604 64,121
SELECTED ANNUALIZED RATIOS
---
Return on average assets 1.31 % 1.30 % 1.32 % 1.22 % 1.32 %
Return on average common equity 16.16 15.41 15.15 14.80 16.72
Net interest income to average earning assets 3.78 3.75 3.74 3.66 3.69
(1) Taxable-equivalent basis assuming a 21% tax rate.
Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
2026 2025
3rd Qtr 2nd Qtr 1st Qtr 4th Qtr 3rd Qtr
BALANCE SHEET SUMMARY
---
($ in millions)
Average Balance:
Loans $
23,378 $
22,622 $
22,011 $
21,661 $
21,452
Earning assets 50,450 49,082 48,628 50,033 48,492
Total assets 54,115 52,626 52,122 53,507 51,911
Non-interest-bearing demand deposits 14,360 14,027 13,944 14,268 13,839
Interest-bearing deposits 29,219 28,592 28,282 29,072 28,232
Total deposits 43,579 42,620 42,226 43,340 42,071
Shareholders' equity 4,529 4,581 4,677 4,558 4,243
Period-End Balance:
Loans $
23,657 $
22,976 $
22,432 $
21,892 $
21,446
Earning assets 50,515 50,260 49,172 49,524 49,147
Total assets 54,516 53,881 52,725 53,041 52,533
Total deposits 44,222 43,334 42,836 42,918 42,517
Shareholders' equity 3,974 4,623 4,531 4,573 4,461
Adjusted shareholders' equity (1) 5,578 5,474 5,454 5,416 5,385
ASSET QUALITY
---
($ in thousands)
Allowance for credit losses on loans: $
290,258 $
283,712 $
286,215 $
281,495 $
280,221
As a percentage of period-end loans 1.23 % 1.23 % 1.28 % 1.29 % 1.31 %
Net charge-offs: $
8,364 $
9,527 $
5,741 $
5,843 $
6,589
Annualized as a percentage of average loans 0.14 % 0.17 % 0.11 % 0.11 % 0.12 %
Non-accrual loans/loans held for sale: $
63,704 $
112,717 $
72,350 $
70,482 $
44,778
As a percentage of total loans and loans held for sale 0.27 % 0.49 % 0.32 % 0.32 % 0.21 %
As a percentage of total assets 0.12 0.21 0.14 0.13 0.09
CONSOLIDATED CAPITAL RATIOS
---
Common Equity Tier 1 Risk-Based Capital Ratio 13.76 % 13.95 % 14.07 % 14.06 % 14.14 %
Tier 1 Risk-Based Capital Ratio 14.18 14.38 14.51 14.50 14.59
Total Risk-Based Capital Ratio 15.50 15.74 15.89 15.95 16.04
Leverage Ratio 8.98 9.06 9.13 8.80 9.00
Equity to Assets Ratio (period-end) 7.29 8.58 8.59 8.62 8.49
Equity to Assets Ratio (average) 8.37 8.71 8.97 8.52 8.17
(1) Shareholders' equity excluding accumulated other comprehensive income (loss).
Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
(In thousands, except per share amounts)
Nine Months Ended
September 30,
2026 2025
CONDENSED INCOME STATEMENTS
---
Net interest income $1,354,117 $1,287,442
Net interest income (1) 1,421,626 1,350,630
Credit loss expense 28,602 32,978
Non-interest income:
Trust and investment management fees 145,072 131,446
Service charges on deposit accounts 102,638 89,212
Insurance commissions and fees 52,079 50,322
Interchange and card transaction fees 19,921 16,568
Other charges, commissions and fees 40,966 42,283
Net gain (loss) on securities transactions (7,512) (14)
Other 47,394 37,114
Total non-interest income 400,558 366,931
Non-interest expense:
Salaries and wages 521,328 492,161
Employee benefits 113,461 109,448
Net occupancy 105,824 102,599
Technology, furniture and equipment 130,383 124,169
Deposit insurance 20,449 20,102
Other 213,141 199,193
Total non-interest expense 1,104,586 1,047,672
Income before income taxes 621,487 573,723
Income taxes 98,232 91,418
Net income 523,255 482,305
Preferred stock dividends 5,006 5,006
Net income available to common shareholders $
518,249 $
477,299
PER COMMON SHARE DATA
---
Earnings per common share - basic $
8.19 $
7.36
Earnings per common share - diluted 8.19 7.36
Cash dividends per common share $
3.06 $
2.95
Book value per common share at end of quarter 61.70 67.64
OUTSTANDING COMMON SHARES
---
Period-end common shares 62,056 63,801
Weighted-average common shares - basic 62,554 64,211
Dilutive effect of stock compensation 55
Weighted-average common shares - diluted 62,554 64,266
SELECTED ANNUALIZED RATIOS
---
Return on average assets 1.31 % 1.24 %
Return on average common equity 15.57 15.98
Net interest income to average earning assets 3.76 3.65
(1) Taxable-equivalent basis assuming a 21% tax rate.
Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
As of or for the
Nine Months Ended
September 30,
2026 2025
BALANCE SHEET SUMMARY
---
($ in millions)
Average Balance:
Loans $
22,675 $
21,103
Earning assets 49,394 47,864
Total assets 52,974 51,344
Non-interest-bearing demand deposits 14,112 13,809
Interest-bearing deposits 28,701 28,023
Total deposits 42,813 41,831
Shareholders' equity 4,595 4,139
Period-End Balance:
Loans $
23,657 $
21,446
Earning assets 50,515 49,147
Total assets 54,516 52,533
Total deposits 44,222 42,517
Shareholders' equity 3,974 4,461
Adjusted shareholders' equity (1) 5,578 5,385
ASSET QUALITY
---
($ in thousands)
Allowance for credit losses on loans: $
290,258 $
280,221
As a percentage of period-end loans 1.23 % 1.31 %
Net charge-offs: 23,632 27,431
Annualized as a percentage of average loans 0.14 % 0.17 %
Non-accrual loans/loans held for sale: $
63,704 $
44,778
As a percentage of total loans and loans held for sale 0.27 % 0.21 %
As a percentage of total assets 0.12 % 0.09
CONSOLIDATED CAPITAL RATIOS
---
Common Equity Tier 1 Risk-Based Capital Ratio 13.76 % 14.14 %
Tier 1 Risk-Based Capital Ratio 14.18 14.59
Total Risk-Based Capital Ratio 15.50 16.04
Leverage Ratio 8.98 9.00
Equity to Assets Ratio (period-end) 7.29 8.49
Equity to Assets Ratio (average) 8.67 8.06
(1) Shareholders' equity excluding accumulated other comprehensive income (loss).
Cullen/Frost Bankers, Inc.
TAXABLE-EQUIVALENT YIELD/COST AND AVERAGE BALANCES (UNAUDITED)
2026 2025
3rd Qtr 2nd Qtr 1st Qtr 4th Qtr 3rd Qtr
TAXABLE-EQUIVALENT YIELD/COST
(1)
---
Earning Assets:
Interest-bearing deposits 3.68 % 3.65 % 3.64 % 3.93 % 4.36 %
Federal funds sold 4.24 3.97 3.97 4.28 4.74
Resell agreements - 4.06 4.13 4.58
Securities(2) 4.09 3.96 3.85 3.82 3.85
Loans, net of unearned discounts 6.27 6.17 6.23 6.43 6.61
Total earning assets 5.03 4.92 4.88 4.94 5.11
Interest-Bearing Liabilities:
Interest-bearing deposits:
Savings and interest checking 0.15 % 0.15 % 0.16 % 0.19 % 0.24 %
Money market deposit accounts 2.12 1.92 1.88 2.08 2.28
Time accounts 3.30 3.24 3.14 3.45 3.79
Total interest-bearing deposits 1.73 1.61 1.55 1.75 1.94
Total deposits 1.16 1.08 1.04 1.17 1.30
Federal funds purchased 3.68 3.66 3.62 3.94 4.34
Repurchase agreements 2.67 2.65 2.70 2.87 3.17
Junior subordinated deferrable interest debentures 5.71 5.60 5.63 6.05 6.30
Subordinated notes payable and other notes 4.69 4.69 4.69 4.69 4.69
Total interest-bearing liabilities 1.89 1.77 1.72 1.92 2.13
Net interest spread 3.14 3.15 3.16 3.02 2.98
Net interest income to total average earning assets 3.78 3.75 3.74 3.66 3.69
AVERAGE BALANCES
---
($ in millions)
Assets:
Interest-bearing deposits $
5,830 $
5,808 $
6,752 $
8,431 $
6,816
Federal funds sold 1 4 4 2 3
Resell agreements - 8 10 10
Securities - carrying value(2) 21,241 20,648 19,853 19,929 20,213
Securities - amortized cost(2) 22,517 21,766 20,825 20,995 21,622
Loans, net of unearned discount 23,378 22,622 22,011 21,661 21,452
Total earning assets $50,450 $49,082 $48,628 $50,033 $48,492
Liabilities:
Interest-bearing deposits:
Savings and interest checking $
9,827 $
9,938 $
10,036 $
9,899 $
9,689
Money market deposit accounts 12,746 12,145 11,900 12,619 11,817
Time accounts 6,645 6,509 6,346 6,554 6,726
Total interest-bearing deposits 29,219 28,592 28,282 29,072 28,232
Total deposits 43,579 42,620 42,226 43,340 42,071
Federal funds purchased 58 24 24 27 29
Repurchase agreements 4,850 4,379 4,160 4,586 4,593
Junior subordinated deferrable interest debentures 123 123 123 123 123
Subordinated notes payable and other notes 100 100 100 100 100
Total interest-bearing funds $
34,350 $
33,219 $
32,689 $
33,909 $
33,077
(1) Taxable-equivalent basis assuming a 21% tax rate.
(2) Average securities include unrealized gains and losses on securities available for sale while yields are based on average amortized cost.
A.B. Mendez
Investor Relations
210.220.5234
or
Bill Day
Media Relations
210.220.5427
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SOURCE Cullen/Frost Bankers, Inc.
