CULLENFROST BANKERS INC

For the period ended Sep 30, 2024. Filed Oct 31, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Oct 31, 2024

CFR$158.16+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Interest income:
Loans, including fees	$357,122	$307,035	$1,031,438	$867,302
Securities:
Taxable	99,561	103,875	296,635	303,610
Tax-exempt	54,618	56,918	164,456	184,189
Interest-bearing deposits	96,215	91,904	294,215	278,897
Federal funds sold	63	183	223	1,246
Resell agreements	580	1,197	2,977	3,391
Total interest income	608,159	561,112	1,789,944	1,638,635
Interest expense:
Deposits	164,328	138,779	479,222	357,034
Federal funds purchased	271	288	1,262	1,283
Repurchase agreements	35,868	33,195	108,118	99,960
Junior subordinated deferrable interest debentures	2,197	2,260	6,756	6,354
Subordinated notes	1,164	1,164	3,492	3,492
Total interest expense	203,828	175,686	598,850	468,123
Net interest income	404,331	385,426	1,191,094	1,170,512
Credit loss expense	19,386	11,185	48,823	30,190
Net interest income after credit loss expense	384,945	374,241	1,142,271	1,140,322
Non-interest income:
Trust and investment management fees	41,016	37,616	121,505	113,152
Service charges on deposit accounts	27,412	23,603	78,321	68,969
Insurance commissions and fees	14,839	13,636	47,054	45,528
Interchange and card transaction fees	5,428	4,672	15,253	14,811
Other charges, commissions, and fees	13,060	13,128	38,140	36,922
Net gain (loss) on securities transactions	16	12	16	66
Other	11,936	13,331	35,985	35,343
Total non-interest income	113,707	105,998	336,274	314,791
Non-interest expense:
Salaries and wages	156,637	137,562	455,874	401,102
Employee benefits	29,060	26,527	93,832	87,241
Net occupancy	32,497	31,581	96,649	93,644
Technology, furniture, and equipment	37,766	35,278	108,712	100,802
Deposit insurance	7,238	6,033	30,345	18,480
Other	60,212	56,275	181,179	162,171
Total non-interest expense	323,410	293,256	966,591	863,440
Income before income taxes	175,242	186,983	511,954	591,673
Income taxes	28,741	31,332	84,264	96,251
Net income	146,501	155,651	427,690	495,422
Preferred stock dividends	1,668	1,668	5,006	5,006
Net income available to common shareholders	$144,833	$153,983	$422,684	$490,416
Earnings per common share:
Basic	$2.24	$2.38	$6.52	$7.56
Diluted	2.24	2.38	6.51	7.54

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.