Cullen/Frost Q3 profit falls to $144.8 million, EPS $2.24 from $2.38
Cullen/Frost Bankers reported third quarter 2024 net income available to common shareholders of $144.8 million, down from $154.0 million a year earlier, with diluted EPS of $2.24 versus $2.38. Nine-month net income fell 13.8 percent, and non-interest expense rose 10.3 percent, while loans grew and the board declared a $0.95 quarterly common dividend.
Key points
- Q3 2024 net income available to common shareholders was $144.8 million, versus $154.0 million in Q3 2023; diluted EPS was $2.24 versus $2.38.
- Nine-month 2024 net income available to common shareholders was $422.7 million, down 13.8 percent; diluted EPS was $6.51 versus $7.54.
- Average loans rose 11.8 percent year over year to $20.1 billion; average deposits fell 0.2 percent to $40.7 billion.
- Non-interest expense was $323.4 million, up 10.3 percent; the board declared a $0.95 common dividend payable December 13, 2024.
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.