logo
Share SHARE
FONT-SIZE Plus   Neg

Cullen/Frost Bankers Q1 Profit Up - Quick Facts

Cullen/Frost Bankers, Inc. (CFR) posted first quarter profit of $61.03 million or $0.99 per share versus $51.93 million or $0.85 per share a year ago.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share. Analysts' estimates typically exclude special items.

Net interest income grew to $149.71 million from $141.76 million a year ago. Total non-interest income was down to $71.98 million or $72.33 million in the prior-year quarter. Analysts estimated revenues of $236.96 million.

"Cullen/Frost's record quarterly earnings reflect our ability to operate effectively despite regulatory challenges and low interest rate headwinds in a slowly recovering economy," said Dick Evans, Cullen/Frost chairman and CEO.

"We are starting to see some growth in period-end loans compared to last quarter thanks to the foundation of new and expanded customer relationships we nurtured during the recession, although many businesses are still being cautious. Our strong deposit growth trend continued as we added another $1.9 billion in average deposits since the first quarter of 2011. Since year-end 2007, we have increased our asset size by more than 50 percent..."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Around 17,000 AT&T Inc workers in California and Nevada went on strike on Wednesday, alleging that the telecom giant violated contract terms. The employees, who work in the company's phone, landline and cable services businesses, walked out, formally known as a grievance strike, for forcing employees to do work outside their areas of expertise. Google Maps introduced a new feature to share real-time location to a contact for 15 minutes to 3 days. The feature can be turned off at any time by the user. The tech leader believes that the feature will help friends meet up in a large park or a restaurant at a new location. One can open share... Instagram is expected to announce Wednesday that it has one million monthly active advertisers, representing a five-fold increase from a year ago. The photo and video app, owned by Facebook, had 500,000 monthly active advertisers in September 2016 and just 200,000 active advertisers a year ago.
comments powered by Disqus
Follow RTT