secwatch.observer — SEC 8-K summary
======================================

Issuer:     CULLEN/FROST BANKERS, INC. (CFR)
CIK:        0000039263
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0000039263-23-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cullen/Frost Q4 net income $189.5M, EPS $2.91 up 91% YoY; NIM expands to 3.31%
------------------------------------------------------------------------------

- Diluted EPS $2.91 vs $1.54 a year ago; full-year EPS $8.81 vs $6.76 (up 30%).
- Net interest income (tax-equivalent) $423.9M, up 60.5%; net interest margin 3.31% vs 2.31%.
- Average loans $17.1B (+6.8% YoY); average deposits $44.8B (+9.1% YoY).
- Non-interest expense $281.3M (+17.9%) driven by salaries, expansion costs, and a $4M license negotiation accrual.
- Board declared $0.87 per common share dividend, unchanged, payable March 15, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39263/000003926323000005/0000039263-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39263/000003926323000005/cfr-20230126.htm
  HTML page:      https://secwatch.observer/filing/0000039263-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer