Quarterly ResultOct 29, 2026, 09:11 AM
Cullen/Frost Q3 Net Income $178.5M; EPS $2.84; Dividend $1.03
AI Summary
Cullen/Frost Bankers, Inc. reported strong third quarter 2026 results, with net income available to common shareholders rising to $178.5 million ($2.84 per diluted share) from $172.7 million ($2.67 per diluted share) in the prior year's quarter. Net interest income increased by 5.8% to $490.8 million, supported by a 9.0% rise in average loans and a 3.6% increase in average deposits. Non-interest income grew 8.2% to $136.0 million, while non-interest expense increased 7.0% to $377.2 million. The company also announced its board declared a fourth-quarter cash dividend of $1.03 per common share and repurchased $15.0 million of its common stock during the quarter.
Key Highlights
- Cullen/Frost reported Q3 2026 net income available to common shareholders of $178.5 million, or $2.84 per diluted share, up from $172.7 million, or $2.67 per share, in Q3 2025.
- Net interest income on a taxable-equivalent basis was $490.8 million for Q3 2026, an increase of 5.8% compared to $463.7 million in Q3 2025.
- Average loans increased 9.0% to $23.4 billion in Q3 2026 compared to $21.5 billion in Q3 2025.
- Average deposits increased 3.6% to $43.6 billion in Q3 2026 compared to $42.1 billion in Q3 2025.
- Non-interest income totaled $136.0 million in Q3 2026, an increase of 8.2% from $125.6 million in Q3 2025, driven by trust and investment management fees and gains on property sales.
- Non-interest expense was $377.2 million in Q3 2026, up 7.0% from $352.5 million in Q3 2025, primarily due to higher salaries and wages.
- The board declared a fourth-quarter cash dividend of $1.03 per common share.
- The company repurchased 92,700 common shares for $15.0 million in Q3 2026.
Price Impact
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