secwatch.observer — SEC 8-K summary
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Issuer:     CULLEN/FROST BANKERS, INC. (CFR)
CIK:        0000039263
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000039263-23-000070
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cullen/Frost Q3 EPS $2.38 vs $2.59 YoY; loans up 6.8%, deposits stabilize
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- Net income to common $154M vs $168.1M in Q3 2022; diluted EPS $2.38 (down 8.1% YoY).
- Net interest income (taxable-equiv) $407.4M, up 7.3% YoY; NIM 3.44% vs 3.01% a year ago.
- Average loans $18.0B (+6.8% YoY); average deposits $40.8B (-10.9% YoY but -0.4% QoQ).
- Non-interest expense rose 13.7% to $293.3M, driven by salary, tech, and marketing investments.
- Board declared Q4 cash dividend $0.92 per common share, payable Dec 15 to holders of record Nov 30.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39263/000003926323000070/0000039263-23-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39263/000003926323000070/cfr-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000039263-23-000070

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