Cullen/Frost Q1 net income $176M, EPS $2.70, up 80% YoY; dividend $0.87

CULLEN/FROST BANKERS, INC.

2023-Q1 EPS reported $2.70 revenue$505,085,000

Net income available to common shareholders $176M vs $97.4M YoY; diluted EPS $2.70 (up 80%).
Net interest income (tax-equiv) $425.8M, up 56.4% YoY; net interest margin 3.47% vs 2.33%.
Average loans $17.3B, up 5.7% YoY; average deposits $42.8B, down 0.5% YoY.
Non-interest income $105.3M (+3.8%); non-interest expense $285.1M (+19.4%).
Board declares Q2 dividend $0.87/common share, payable June 15 to holders of record May 31.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CULLEN/FROST BANKERS, INC. reported the first quarter of 2023 results: net income $176.0 million, EPS $2.70 per diluted common share.

Period: the first quarter of 2023
Net income: $176.0 million
EPS: $2.70 per diluted common share
Result: reported results

Exact text from the filing

Net income available to common shareholders for the first quarter of 2023 was $176.0 million compared to $97.4 million in the first quarter of 2022. On a per-share basis, net income available to common shareholders for the first quarter of 2023 was $2.70 per diluted common share, compared to $1.50 per diluted common share reported a year earlier, representing an 80.0 percent increase.

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Source: SEC EDGAR

accession 0000039263-23-000041

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