secwatch.observer — SEC 8-K summary
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Issuer:     CULLEN/FROST BANKERS, INC. (CFR)
CIK:        0000039263
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000039263-24-000055
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cullen/Frost Q2 2024 EPS $2.21 down from $2.47 YoY; board raises dividend 3.3% to $0.95
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- Net income available to common $143.8M ($2.21 diluted EPS) vs $160.4M ($2.47) a year ago.
- Average loans up 11.3% YoY to $19.7B; net interest margin expanded to 3.54% from 3.45% YoY.
- Non-interest expense rose 11.2% to $317.0M, driven by higher salaries and technology costs.
- Quarterly common dividend raised 3.3% to $0.95 per share; payable Sept 13, 2024 to holders of record Aug 30.
- Non-accrual loans increased to $75.0M; credit loss expense $15.8M vs $9.9M in Q2 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39263/000003926324000055/0000039263-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39263/000003926324000055/cfr-20240725.htm
  HTML page:      https://secwatch.observer/filing/0000039263-24-000055

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