CULLEN/FROST BANKERS, INC.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
View on SEC.govAbout 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, 2026 · Filed Oct 29, 2026
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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Consolidated Statements of Cash Flows
(Dollars in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating Activities: | ||
| Net income | $523,255 | $482,305 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Credit loss expense | 28,602 | 32,978 |
| Deferred tax expense (benefit) | (7,124) | 3,047 |
| Accretion of loan discounts | (24,079) | (20,588) |
| Securities premium amortization (discount accretion), net | 6,330 | 28,907 |
| Net (gain) loss on securities transactions | 7,512 | 14 |
| Depreciation and amortization | 67,479 | 65,969 |
| Net (gain) loss on sale/write-down of assets/foreclosed assets | (8,276) | (2,294) |
| Stock-based compensation | 16,206 | 13,183 |
| Net tax benefit from stock-based compensation | 404 | 1,816 |
| Earnings on life insurance policies | (2,967) | (2,908) |
| Net change in: | ||
| Trading account securities | (8,320) | (2,336) |
| Lease right-of-use assets | 20,156 | 18,227 |
| Accrued interest receivable and other assets | (111,190) | 69,262 |
| Accrued interest payable and other liabilities | 74,924 | (594,338) |
| Net cash from operating activities | 582,912 | 93,244 |
| Investing Activities: | ||
| Securities held to maturity: | ||
| Purchases | — | (1,500) |
| Maturities, calls and principal repayments | 66,111 | 77,501 |
| Securities available for sale: | ||
| Purchases | (17,045,631) | (15,386,824) |
| Sales | 27,916 | 41,207 |
| Maturities, calls and principal repayments | 14,976,788 | 13,903,659 |
| Proceeds from sale of loans | 9,373 | 14,119 |
| Net change in loans | (1,777,853) | (712,382) |
| Benefits received on life insurance policies | 2,326 | 1,777 |
| Proceeds from sales of premises and equipment | 8,856 | 44 |
| Purchases of premises and equipment | (142,676) | (104,136) |
| Proceeds from sales of foreclosed assets | 535 | 15,135 |
| Net cash from investing activities | (3,874,255) | (2,151,400) |
| Financing Activities: | ||
| Net change in deposits | 1,304,507 | (205,596) |
| Net change in short-term borrowings | 592,258 | 230,608 |
| Proceeds from stock option exercises | — | 7,881 |
| Purchase of treasury stock | (178,349) | (72,461) |
| Cash dividends paid on preferred stock | (5,006) | (5,006) |
| Cash dividends paid on common stock | (193,739) | (191,292) |
| Net cash from financing activities | 1,519,671 | (235,866) |
| Net change in cash and cash equivalents | (1,771,672) | (2,294,022) |
| Cash and cash equivalents at beginning of period | 8,874,055 | 10,234,258 |
| Cash and cash equivalents at end of period | $7,102,383 | $7,940,236 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.