secwatch.observer — SEC 8-K summary
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Issuer:     CULLEN/FROST BANKERS, INC. (CFR)
CIK:        0000039263
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0000039263-24-000002
Event type: earnings
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39263/000003926324000002/0000039263-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39263/000003926324000002/cfr-20240125.htm
  HTML page:      https://secwatch.observer/filing/0000039263-24-000002

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