Cullen/Frost Bankers reported third‑quarter 2025 results, posting net income available to common shareholders of $172.7 million and diluted earnings per share of $2.67, up 19% from $144.8 million and $2.24 a year earlier. Net interest income rose 9.1% to $463.7 million, while average loans increased to $21.5 billion and average deposits to $42.1 billion, reflecting continued balance‑sheet growth.
Net interest margin improved to 3.69% in Q3 2025 from 3.56% in Q3 2024. Non‑interest expense increased 9.0% to $352.5 million, driven by higher salaries, benefits, technology investments, and fraud losses. Credit loss expense and net charge‑offs declined, improving the bank’s credit metrics.
Commercial banking contributed the majority of net interest income, while consumer banking and wealth management added smaller shares. The bank’s expansion of new locations and digital banking tools has supported the growth of these segments.
Management highlighted the bank’s strong capital position, with Common Equity Tier 1 at 14.14%, and its continued investment in technology and customer experience. The $1.00 per share dividend continues a 33‑year streak of dividend increases.
Analysts had expected earnings per share of $2.38–$2.39 and net interest income of $452.1 million; the company beat those estimates. Total revenue of $565.55 million was slightly below analyst expectations of $565.55 million, but the bank’s performance reflects robust demand for loans and deposits amid a competitive Texas banking market.
The Q3 2025 results follow Q2 2025, where EPS was $2.39 and revenue was $567.83 million, also beating expectations.
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