CULLEN/FROST BANKERS, INC.

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

CFR$158.16+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Interest income:
Loans, including fees	$355,602	$357,122	$1,034,899	$1,031,438
Securities:
Taxable	125,977	99,561	372,360	296,635
Tax-exempt	62,466	54,618	175,114	164,456
Interest-bearing deposits	75,914	96,215	224,149	294,215
Federal funds sold	33	63	170	223
Resell agreements	113	580	488	2,977
Total interest income	620,105	608,159	1,807,180	1,789,944
Interest expense:
Deposits	137,868	164,328	405,329	479,222
Federal funds purchased	324	271	806	1,262
Repurchase agreements	37,191	35,868	104,287	108,118
Junior subordinated deferrable interest debentures	1,940	2,197	5,824	6,756
Subordinated notes	1,164	1,164	3,492	3,492
Total interest expense	178,487	203,828	519,738	598,850
Net interest income	441,618	404,331	1,287,442	1,191,094
Credit loss expense	6,779	19,386	32,978	48,823
Net interest income after credit loss expense	434,839	384,945	1,254,464	1,142,271
Non-interest income:
Trust and investment management fees	44,846	41,016	131,446	121,505
Service charges on deposit accounts	31,440	27,412	89,212	78,321
Insurance commissions and fees	15,424	14,839	50,322	47,054
Interchange and card transaction fees	5,547	5,428	16,568	15,253
Other charges, commissions, and fees	14,730	13,060	42,283	38,140
Net gain (loss) on securities transactions	—	16	(14)	16
Other	13,660	11,936	37,114	35,985
Total non-interest income	125,647	113,707	366,931	336,274
Non-interest expense:
Salaries and wages	169,155	156,637	492,161	455,874
Employee benefits	34,465	29,060	109,448	93,832
Net occupancy	34,682	32,497	102,599	96,649
Technology, furniture, and equipment	43,479	37,766	124,169	108,712
Deposit insurance	6,328	7,238	20,102	30,345
Other	64,369	60,212	199,193	181,179
Total non-interest expense	352,478	323,410	1,047,672	966,591
Income before income taxes	208,008	175,242	573,723	511,954
Income taxes	33,628	28,741	91,418	84,264
Net income	174,380	146,501	482,305	427,690
Preferred stock dividends	1,668	1,668	5,006	5,006
Net income available to common shareholders	$172,712	$144,833	$477,299	$422,684
Earnings per common share:
Basic	$2.67	$2.24	$7.36	$6.52
Diluted	2.67	2.24	7.36	6.51

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.