secwatch.observer — SEC 8-K summary
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Issuer:     CULLEN/FROST BANKERS, INC. (CFR)
CIK:        0000039263
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000039263-23-000063
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39263/000003926323000063/0000039263-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39263/000003926323000063/cfr-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000039263-23-000063

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