Cullen/Frost Bankers, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 09:00 am EDT
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Cullen/Frost Bankers, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 385.43 million compared to USD 355.55 million a year ago. Net income was USD 155.65 million compared to USD 169.76 million a year ago. Basic earnings per share from continuing operations was USD 2.38 compared to USD 2.6 a year ago. Diluted earnings per share from continuing operations was USD 2.38 compared to USD 2.59 a year ago.
For the nine months, net interest income was USD 1,170.51 million compared to USD 892.83 million a year ago. Net income was USD 495.42 million compared to USD 387.98 million a year ago. Basic earnings per share from continuing operations was USD 7.56 compared to USD 5.92 a year ago. Diluted earnings per share from continuing operations was USD 7.54 compared to USD 5.9 a year ago.
Cullen/Frost Bankers, Inc. is a financial holding and bank holding company. The Company's segments include Banking and Frost Wealth Advisors. The Banking segment includes both commercial and consumer banking services and Frost Insurance Agency. Its commercial banking services are provided to corporations and other business clients and include a range of lending and cash management products. Its consumer banking services include direct lending and depository services. Its Frost Insurance Agency provides insurance brokerage services to individuals and businesses covering corporate and personal property and casualty products, as well as group health and life insurance products. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services, including personal wealth management and securities brokerage services. The Company serves a range of industries, including energy, manufacturing, construction, and others.
CULLEN/FROST BANKERS, INC. 
