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Cullen/Frost Bankers reported first quarter 2021 results showing a net income of $113.9 million, up from $47.2 million in Q1 2020. Earnings per diluted share increased to $1.77 from $0.75. Average loans rose by 17.9% to $17.7 billion, while average deposits surged 29.3% to $35.4 billion. However, net interest income decreased by 1.7% to $263.9 million and non-interest income fell to $93.2 million, down from $212.9 million in Q1 2020. The bank announced a cash dividend of $0.72 per share, payable June 15, 2021. Total assets were $44.0 billion as of March 31, 2021.
