CULLEN/FROST BANKERS, INC.
For the period ended Mar 31, 2025. Filed May 1, 2025.
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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.
Mar 31, 2025 · Filed May 1, 2025
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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Consolidated Statements of Income
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Interest income: | ||
| Loans, including fees | $334,608 | $330,540 |
| Securities: | ||
| Taxable | 116,256 | 98,062 |
| Tax-exempt | 54,607 | 55,259 |
| Interest-bearing deposits | 79,495 | 100,361 |
| Federal funds sold | 40 | 80 |
| Resell agreements | 111 | 1,198 |
| Total interest income | 585,117 | 585,500 |
| Interest expense: | ||
| Deposits | 133,168 | 155,634 |
| Federal funds purchased | 201 | 444 |
| Repurchase agreements | 32,419 | 35,948 |
| Junior subordinated deferrable interest debentures | 1,945 | 2,259 |
| Subordinated notes | 1,164 | 1,164 |
| Total interest expense | 168,897 | 195,449 |
| Net interest income | 416,220 | 390,051 |
| Credit loss expense | 13,070 | 13,650 |
| Net interest income after credit loss expense | 403,150 | 376,401 |
| Non-interest income: | ||
| Trust and investment management fees | 42,931 | 39,085 |
| Service charges on deposit accounts | 28,621 | 24,795 |
| Insurance commissions and fees | 21,019 | 18,296 |
| Interchange and card transaction fees | 5,402 | 4,474 |
| Other charges, commissions, and fees | 13,586 | 12,060 |
| Net gain (loss) on securities transactions | (14) | — |
| Other | 12,466 | 12,667 |
| Total non-interest income | 124,011 | 111,377 |
| Non-interest expense: | ||
| Salaries and wages | 160,857 | 148,000 |
| Employee benefits | 42,157 | 35,970 |
| Net occupancy | 33,277 | 31,778 |
| Technology, furniture, and equipment | 40,118 | 34,995 |
| Deposit insurance | 7,184 | 14,724 |
| Other | 64,473 | 60,750 |
| Total non-interest expense | 348,066 | 326,217 |
| Income before income taxes | 179,095 | 161,561 |
| Income taxes | 28,173 | 25,871 |
| Net income | 150,922 | 135,690 |
| Preferred stock dividends | 1,669 | 1,669 |
| Net income available to common shareholders | $149,253 | $134,021 |
| Earnings per common share: | ||
| Basic | $2.30 | $2.06 |
| Diluted | 2.30 | 2.06 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.