---
schema_version: "secwatch.filing_event.v1"
accession: "0000039263-23-000063"
form_type: "8-K"
ticker: "CFR"
cik: "0000039263"
company_name: "CULLEN/FROST BANKERS, INC."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:09:11.992059+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cullen/Frost Q2 EPS $2.47 beats year ago; dividend raised 5.7% to $0.92

## Summary
- Net income available to common shareholders $160.4M, up 36.5% YoY; diluted EPS $2.47 vs $1.81.
- Net interest income (tax-equiv) $408.6M, up 31.2% YoY; net interest margin 3.45% (2.56% Q2 2022).
- Board increases quarterly common dividend 5.7% to $0.92 per share; payable Sep 15, record Aug 31.
- Average loans $17.7B (+5.9% YoY); average deposits $41.0B (-8.3% YoY) on rate-driven non-interest bearing deposit declines.
- Credit loss expense $9.9M; net charge-offs $9.8M; allowance as % of loans 1.32%.

## SEC filing metadata
- accession: 0000039263-23-000063
- form_type: 8-K
- ticker: CFR
- cik: 0000039263
- company_name: CULLEN/FROST BANKERS, INC.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39263/000003926323000063/0000039263-23-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39263/000003926323000063/cfr-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039263-23-000063
- JSON: https://secwatch.observer/filing/0000039263-23-000063.json
- Plain text: https://secwatch.observer/filing/0000039263-23-000063.txt

## Key facts
- Earnings Releases
  CULLEN/FROST BANKERS, INC. reported the quarter ended June 30, 2023 results: net income $160.4 million, EPS $2.47 per diluted common share.
  - Period: the quarter ended June 30, 2023
  - Net income: $160.4 million
  - EPS: $2.47 per diluted common share
  - Result: reported results
  source text: Net income available to common shareholders for the second quarter of 2023 was $160.4 million compared to $117.4 million in the second quarter of 2022. On a per-share basis, net income available to common shareholders for the second quarter of 2023 was $2.47 per diluted common share, compared to $1.81 per diluted common share reported a year earlier, representing a 36.5 percent increase.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39263/000003926323000063/0000039263-23-000063-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.