Cullen Frost Bankers Inc Stock Price, News & Analysis

Cullen/Frost Bankers, Inc. (NYSE: CFR) will host a conference call on July 28, 2022, to discuss its second quarter 2022 earnings. The earnings release will be available at 8:00 a.m. CT on their investor relations website. The conference call, starting at 1:00 p.m. CT, will be led by key executives including Chairman and CEO Phil Green. A live webcast will also be accessible, with an archived version available post-call. Interested parties should dial in 5-10 minutes early for registration efficiency.

Frost Bank has expanded its overdraft grace feature to all personal account holders, allowing customers to overdraw by $100 without incurring fees. This initiative, effective June 13, 2022, is part of Frost's strategy to assist consumers by eliminating nonsufficient funds (NSF) fees across all consumer accounts, including savings and health savings accounts. Since its introduction in April 2021, the overdraft grace program has benefitted over 64,000 families, highlighting Frost's commitment to customer support, particularly during challenging economic times, at an estimated cost of $3.5 million annually.

Cullen/Frost Bankers (NYSE: CFR) reported a first quarter net income of $97.4 million, down from $113.9 million in Q1 2021, translating to $1.50 per diluted share compared to $1.77 a year earlier. Net interest income increased by 3.1% to $272.2 million, while average loans decreased by 7.3% to $16.4 billion. Total deposits rose by 21.3% to $43.0 billion. Non-interest income climbed 8.7% to $101.4 million. The board declared a $0.75 dividend per common share, payable June 15, 2022. The company remains well-capitalized, exceeding Basel III requirements.

Cullen/Frost Bankers, Inc. (NYSE:CFR) is set to host a conference call on April 28, 2022, at 1:00 p.m. CT to discuss their First Quarter 2022 earnings. The earnings release will be available at 8:00 a.m. CT on the company’s investor relations website. The call will include remarks from CEO Phil Green and CFO Jerry Salinas, followed by a Q&A session. Those unable to attend can access a playback of the call until May 1, 2022. For more details, interested parties can reach out via the provided investor relations contact.

Black Knight (NYSE:BKI) has partnered with Frost, a top U.S. bank, to implement its advanced mortgage origination and servicing solutions, including the Empower loan origination system and MSP loan servicing system. This collaboration aims to enhance Frost's operational efficiency by streamlining mortgage processes and improving customer experience. Frost will benefit from Black Knight's comprehensive offerings, including the Loss Mitigation application and the Servicing Digital platform, which provide essential tools for managing loans effectively throughout the loan lifecycle.

Frost Bank, a major Texas bank, has partnered with Plaid to enhance digital financial access for nearly 400,000 customers. This collaboration allows users to securely integrate their Frost accounts with over 6,000 financial apps via Plaid's open finance API, Plaid Exchange. The initiative aims to improve account management and connectivity in response to customer demand for a unified platform. Frost Bank continues to invest in digital solutions after introducing features like early payday and expanded ATM access.

The board of directors of Cullen/Frost Bankers announced the retirement of directors Karen E. Jennings and Ida Clement Steen, effective at the annual meeting in April. Jennings has served on the board since 2001, while Steen has been a member since 1996. The board expressed gratitude for their leadership. To fill their positions, the board nominated Laurie Baker and Linda Burke Rutherford, both seasoned executives with strong backgrounds in operations and communications, respectively. This transition is seen as a move to enhance the company's leadership and maintain its cultural values.

Cullen/Frost Bankers, Inc. (NYSE: CFR) reported strong fourth quarter and full year 2021 results. Net income for Q4 2021 was $99.4 million ($1.54/share), up from $88.3 million ($1.38/share) in Q4 2020. Full year net income reached $435.9 million, a 34.7% increase year-over-year. Average loans for Q4 2021 decreased to $16.0 billion, while average deposits rose to $41.0 billion, a 20.2% increase. The bank declared a $0.75 dividend per common share and announced a $100 million stock repurchase plan, signaling confidence in its financial health.