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Cullen/Frost Bankers, Inc. reports developments tied to its role as a Texas-focused financial holding company and the parent of Frost. Frost provides banking, investment and insurance services to businesses and individuals across Texas regions including Austin, Dallas, Fort Worth, Houston, the Permian Basin, Rio Grande Valley and San Antonio.
Recurring news includes quarterly and annual earnings, loan and deposit trends, dividends, stock repurchase authorizations, earnings conference calls, board composition updates and community or sponsorship initiatives. Company updates also reference Frost’s long operating history, its Texas market focus and its relationships with business, individual and community customers.
Blend (NYSE: BLND) has expanded its partnership with Frost Bank to enhance digital transformation across various banking services. Previously focused on home equity loans, the collaboration now includes mortgage, consumer banking, and deposits. Frost Bank, ranked highest in customer satisfaction among Texas banks by J.D. Power, aims to streamline customer experiences through Blend’s technology, improving operational efficiency for loan officers. This initiative supports Frost Bank's commitment to advancing customer service in retail banking.
Cullen/Frost Bankers, Inc. (NYSE:CFR) will hold a conference call on October 28, 2021, to discuss its third quarter 2021 earnings. The earnings release will be available at approximately 8:00 a.m. CT. CEO Phil Green, CFO Jerry Salinas, and SVP A.B. Mendez will host the call starting at 1:00 p.m. CT. Interested parties can join via phone or live webcast. The playback of the call will be accessible from 5:00 p.m. CT on the same day until October 31, 2021.
Cullen/Frost Bankers (NYSE:CFR) announced the full redemption of its Floating Rate Junior Subordinated Debt Securities due 2034. The redemption includes Capital Securities totaling $13,000,000 and Common Securities amounting to $403,000, with payments due on October 23, 2021. Holders must surrender their securities either in-person or by mail to receive payment. As of June 30, 2021, Cullen/Frost reported assets of $46.7 billion, providing various banking services across Texas. This move indicates a strategic financial move aiming to manage debt obligations effectively.
Cullen/Frost Bankers, Inc. (NYSE:CFR) reported strong second quarter 2021 results, with net income available to common shareholders reaching $116.4 million, up from $93.1 million in Q2 2020. Diluted EPS rose to $1.80 from $1.47 year-over-year. Average deposits increased by 22.2% to $38.3 billion, while average loans fell by 1.7% to $17.2 billion. The company's Common Equity Tier 1 ratio stood at 13.60%. A quarterly cash dividend of $0.75 per share was declared, marking a 4% increase. The company is expanding its operations in Dallas following a successful branch expansion in Houston.
Cullen/Frost Bankers, Inc. (NYSE: CFR) will hold a conference call on July 29, 2021, to discuss its second quarter 2021 earnings. The earnings release will be accessible starting at 8:00 a.m. CT. The call, led by CEO Phil Green and CFO Jerry Salinas, begins at 1:00 p.m. CT and will include a Q&A session for analysts. Participants can join via a toll-free number or listen to a live webcast. A playback option will be available from 5:00 p.m. CT on the day of the call until midnight on August 1, 2021.
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.
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Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on April 29, 2021, to discuss its first quarter 2021 earnings. The earnings release will be available at 8:00 a.m. CT on the investor relations website. The call will begin at 1:00 p.m. CT and includes remarks from CEO Phil Green and CFO Jerry Salinas, followed by a Q&A session. Interested individuals can listen via telephone at 800-944-6430 or through a live webcast. A playback of the conference call will be available until midnight on May 2, 2021.
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Frost Investment Advisors LLC (NYSE: CFR) has appointed Mace McCain as president and managing director, succeeding Tom Stringfellow, who retired after over 40 years. McCain, with 35 years in financial management, has been with Frost since 2000, previously managing significant relationships and leading portfolio management. Frost Investment Advisors manages over $4.1 billion in mutual fund assets and has $4.9 billion in assets under management as of December 31, 2020. The firm has provided institutional and retail shares since 2008.