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
A Singapore-based music start-up has acquired a 49 percent stake in the iconic music and pop culture-focused magazine Rolling Stone, becoming the first outsider investor in the magazine. Financial terms of the deal, which will enable Rolling Magazine to expand its international reach, were not disclosed. Allegiant Air said it is moving operations from Akron-Canton Airport to Cleveland Hopkins International Airport, thereby doubling the leisure carrier's presence in northeast Ohio. The company will cease operations at Akron-Canton on February 15, 2017. Carnival Corporation & plc (CCL, CCL.L, CUK) reported a profit for the third-quarter that increased 17 percent from the prior year. The company said it is well on track to deliver nearly 25 percent earnings growth in 2016. It raised adjusted earnings per share guidance for 2016.
comments powered by Disqus
Follow RTT