Earnings Releases·Oct 29, 2026, 9:09 AM ET

Cullen/Frost Bankers, Inc. — Third Quarter 2026 Earnings Summary

Net income available to common shareholders rose 3.4% year-over-year to $178.5 million, with diluted EPS increasing 6.4% to $2.84, while net interest income grew 5.8% to $490.8 million and non-interest income climbed 8.2% to $136.0 million.
Non-interest expense increased 7.0% to $377.2 million, driven by higher salaries and technology costs, while credit loss expense more than doubled to $12.1 million; non-accrual loans rose to $63.7 million from $44.8 million in the prior year period.
The company repurchased 92,700 common shares for $15.0 million during the quarter, leaving $125.0 million available under its $300 million authorization expiring in January 2027, and declared a Q4 common dividend of $1.03 per share.
Average loans and deposits grew 9.0% and 3.6% year-over-year respectively, supported by a 5% growth in the banking customer base and management's confidence in organic expansion driven by Texas population migration.
No specific forward-looking financial guidance was provided, though the company highlighted confidence in its organic growth strategy and noted capital ratios of 13.76% (CET1), 14.18% (Tier 1), and 15.50% (Total Risk-Based) at quarter-end.