---
schema_version: "secwatch.filing_event.v1"
accession: "0000039263-24-000036"
form_type: "8-K"
ticker: "CFR"
cik: "0000039263"
company_name: "CULLEN/FROST BANKERS, INC."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:31:39.470611+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Cullen/Frost Q1 2024 EPS $2.06, down 24% YoY; FDIC assessment hit

## Summary
- Net income available to common $134.0M ($2.06 diluted EPS) vs $175.2M ($2.70) in Q1 2023; adjusted EPS $2.15 excluding $6.1M FDIC assessment.
- Net interest income (tax-equiv) $411.4M, down 3.4% YoY; net interest margin 3.48% vs 3.47% a year ago.
- Average loans $19.1B, up 10.4% YoY; average deposits $40.7B, down 4.8% YoY.
- Non-interest expense $326.2M, up 14.4% YoY; excluding FDIC assessment, up 11.7%.
- Q2 common dividend declared $0.92/share payable June 14; capital ratios well above well-capitalized minimums.

## SEC filing metadata
- accession: 0000039263-24-000036
- form_type: 8-K
- ticker: CFR
- cik: 0000039263
- company_name: CULLEN/FROST BANKERS, INC.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39263/000003926324000036/0000039263-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39263/000003926324000036/cfr-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039263-24-000036
- JSON: https://secwatch.observer/filing/0000039263-24-000036.json
- Plain text: https://secwatch.observer/filing/0000039263-24-000036.txt

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