---
schema_version: "secwatch.filing_event.v1"
accession: "0000039263-24-000002"
form_type: "8-K"
ticker: "CFR"
cik: "0000039263"
company_name: "CULLEN/FROST BANKERS, INC."
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:40:58.489327+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Cullen/Frost Q4 net income $100.9M (adj $141.6M), EPS $1.55; declares $0.92 dividend, $150M buyback

## Summary
- Net income available to common shareholders for Q4 2023 was $100.9M, impacted by $51.5M FDIC surcharge; adjusted net income would be $141.6M.
- EPS for Q4 2023 was $1.55 per diluted common share; adjusted EPS would be $2.18, down 25.1% from Q4 2022.
- Annual 2023 net income available to common shareholders was $591.3M, up 3.3% from 2022; adjusted $632.0M, up 10.4%.
- Board declared $0.92 per common share dividend and approved $150M share repurchase program expiring Jan 24, 2025.
- Average loans for Q4 2023 were $18.6B, up 9.1% YoY; average deposits $41.2B, down 8.0% YoY.

## SEC filing metadata
- accession: 0000039263-24-000002
- form_type: 8-K
- ticker: CFR
- cik: 0000039263
- company_name: CULLEN/FROST BANKERS, INC.
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39263/000003926324000002/0000039263-24-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39263/000003926324000002/cfr-20240125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039263-24-000002
- JSON: https://secwatch.observer/filing/0000039263-24-000002.json
- Plain text: https://secwatch.observer/filing/0000039263-24-000002.txt

## Key facts
- Earnings Releases
  CULLEN/FROST BANKERS, INC. reported financial results for the quarter and year ended December 31, 2023.
  - Period: the quarter and year ended December 31, 2023
  - Result: reported results
  source text: Attached as Exhibit 99.1 and incorporated into this item by reference is a press release issued by the Registrant on January 25, 2024 regarding its financial results for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39263/000003926324000002/0000039263-24-000002-index.htm

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