Cullen/Frost Bankers Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	1,384	1,379	1,194	770.98	674.63
Interest Income on Investments	1,036	1,012	1,024	704.74	334.14
Total Interest Income	2,421	2,391	2,218	1,476	1,009
Interest Paid on Deposits	533.27	629.11	508.26	140.48	14.52
Interest Paid on Borrowings	151.33	156.92	150.8	43.96	9.38
Total Interest Expense	684.6	786.03	659.05	184.44	23.9
Net Interest Income	1,736	1,605	1,559	1,291	984.87
Net Interest Income Growth (YoY)	8.20%	2.95%	20.71%	31.11%	0.91%
Trust Income	177.1	165.27	153.32	154.68	148.99
Gain (Loss) on Sale of Investments	-0.85	-0.1	0.07	-	0.07
Other Non-Interest Income	201.28	187.69	181.66	158.25	154.37
Total Non-Interest Income	499.1	459.1	428.54	404.82	386.73
Non-Interest Income Growth (YoY)	8.71%	7.13%	5.86%	4.68%	-16.91%
Revenues Before Loan Losses	2,235	2,064	1,987	1,696	1,372
Provision for Loan Losses	44.2	64.99	46.17	3	0.06
Revenue	2,191	1,999	1,941	1,693	1,372
Revenue Growth (YoY)	9.62%	2.97%	14.64%	23.45%	14.27%
Salaries and Employee Benefits	757.89	693.68	606.13	534.38	440.97
Occupancy Expenses	136.57	128.4	124.06	112.17	107.02
Federal Deposit Insurance	18.75	37.27	76.59	15.6	12.23
Selling, General & Administrative	285.84	250.4	241.12	207.41	184.15
Other Non-Interest Expense	220.29	193.01	180.76	154.71	137.62
Total Non-Interest Expense	1,419	1,303	1,229	1,024	881.99
EBT Excluding Unusual Items	771.7	695.97	712.37	668.83	489.54
Pretax Income	771.7	695.97	712.37	668.83	489.54
Income Tax Expense	123.15	113.43	114.4	89.68	46.46
Net Income	648.56	582.54	597.97	579.15	443.08
Preferred Dividends & Other Adjustments	13.08	12.91	12.96	11.89	11.04
Net Income to Common	635.47	569.63	585.02	567.27	432.04
Net Income Growth	11.33%	-2.58%	3.25%	30.71%	33.80%
Basic Shares Outstanding	64	64	64	64	64
Diluted Shares Outstanding	64	64	64	65	64
Shares Change (YoY)	-0.25%	-0.22%	-0.18%	0.65%	1.74%
EPS (Basic)	9.92	8.88	9.11	8.84	6.79
EPS (Diluted)	9.92	8.87	9.10	8.81	6.76
EPS Growth	11.84%	-2.53%	3.29%	30.33%	32.31%
Dividend Per Share	3.950	3.740	3.580	3.240	2.940
Dividend Growth	5.62%	4.47%	10.49%	10.20%	3.16%
Effective Tax Rate	15.96%	16.30%	16.06%	13.41%	9.49%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.