Cullen/Frost Bankers, Inc. (CFR)

Cullen/Frost Bankers Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,380	1,379	1,194	770.98	674.63	680.24
Interest Income on Investments	1,028	1,012	1,024	704.74	334.14	340.8
Total Interest Income	2,408	2,391	2,218	1,476	1,009	1,021
Interest Paid on Deposits	555.21	629.11	508.26	140.48	14.52	32.02
Interest Paid on Borrowings	151.7	156.92	150.8	43.96	9.38	13.02
Total Interest Expense	706.91	786.03	659.05	184.44	23.9	45.03
Net Interest Income	1,701	1,605	1,559	1,291	984.87	976
Net Interest Income Growth (YoY)	7.71%	2.95%	20.71%	31.11%	0.91%	-2.79%
Trust Income	175.21	165.27	153.32	154.68	148.99	129.27
Gain (Loss) on Sale of Investments	-0.13	-0.1	0.07	-	0.07	108.99
Other Non-Interest Income	197.55	187.69	181.66	158.25	154.37	146.32
Total Non-Interest Income	489.76	459.1	428.54	404.82	386.73	465.45
Non-Interest Income Growth (YoY)	8.83%	7.13%	5.86%	4.68%	-16.91%	27.91%
Revenues Before Loan Losses	2,191	2,064	1,987	1,696	1,372	1,441
Provision for Loan Losses	49.14	64.99	46.17	3	0.06	241.23
Revenue	2,142	1,999	1,941	1,693	1,372	1,200
Revenue Growth (YoY)	9.02%	2.97%	14.64%	23.45%	14.27%	-10.04%
Salaries and Employee Benefits	742.42	693.68	606.13	534.38	440.97	431.19
Occupancy Expenses	134.35	128.4	124.06	112.17	107.02	93.14
Federal Deposit Insurance	27.03	37.27	76.59	15.6	12.23	10.5
Amortization of Goodwill & Intangibles	-	-	-	-	-	0.92
Selling, General & Administrative	269.02	250.4	241.12	207.41	184.15	181.24
Other Non-Interest Expense	211.02	193.01	180.76	154.71	137.62	131.92
Total Non-Interest Expense	1,384	1,303	1,229	1,024	881.99	848.9
EBT Excluding Unusual Items	757.74	695.97	712.37	668.83	489.54	351.32
Pretax Income	757.74	695.97	712.37	668.83	489.54	351.32
Income Tax Expense	120.58	113.43	114.4	89.68	46.46	20.17
Net Income	637.16	582.54	597.97	579.15	443.08	331.15
Preferred Dividends & Other Adjustments	12.77	12.91	12.96	11.89	11.04	10.67
Net Income to Common	624.39	569.63	585.02	567.27	432.04	320.49
Net Income Growth	20.16%	-2.58%	3.25%	30.71%	33.80%	-25.35%
Basic Shares Outstanding	64	64	64	64	64	63
Diluted Shares Outstanding	64	64	64	65	64	63
Shares Change (YoY)	-0.02%	-0.22%	-0.18%	0.65%	1.74%	-0.69%
EPS (Basic)	9.73	8.88	9.11	8.84	6.79	5.11
EPS (Diluted)	9.72	8.87	9.10	8.81	6.76	5.11
EPS Growth	20.47%	-2.53%	3.29%	30.33%	32.31%	-25.57%
Dividend Per Share	3.900	3.740	3.580	3.240	2.940	2.850
Dividend Growth	5.12%	4.47%	10.49%	10.20%	3.16%	1.79%
Effective Tax Rate	15.91%	16.30%	16.06%	13.41%	9.49%	5.74%

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

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