Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Cullen/Frost Reports 4Th Quarter, Annual 2012 Results



            Cullen/Frost Reports 4Th Quarter, Annual 2012 Results

Annual earnings a record high

- Double-digit loan and deposit growth

- Assets top $23 billion

- Steady profitability in challenging regulatory and rate environment

- Continued improvement in asset quality

PR Newswire

SAN ANTONIO, Jan. 30, 2013

SAN ANTONIO, Jan. 30, 2013 /PRNewswire/ -- Cullen/Frost Bankers, Inc. today
reported solid fourth quarter earnings and record-high annual earnings for the
full year of 2012, as the Texas financial services leader continues to operate
profitably in the face of regulatory and rate challenges and a sluggish but
slowly improving economy. For the first time, the company exceeded $23 billion
in assets, a 72 percent increase over year-end 2007.

(Logo:  http://photos.prnewswire.com/prnh/20030109/CFRLOGO)

Cullen/Frost reported net income for the fourth quarter of 2012 of $60.2
million, or $.97 per diluted common share, compared to fourth quarter 2011
earnings of $55.4 million, or $.90 per diluted common share. For the fourth
quarter of 2012, returns on average assets and equity were 1.09 percent and
9.84 percent respectively, compared to 1.12 percent and 9.74 percent for the
same period of 2011.

The company also reported annual earnings for 2012 of $238.0 million, a 9.4
percent increase over 2011 earnings of $217.5 million. On a per-share basis,
2012 earnings were $3.86 per diluted common share, an increase of 9.0 percent
compared to the $3.54 per diluted common share reported in 2011. For the year,
returns on average assets and equity were 1.14 percent and 10.03 percent
respectively, compared to the 1.17 percent and 10.01 percent reported in 2011.

At the end of the fourth quarter of 2012, Cullen/Frost saw non-performing
assets decline by $15.7 million from the fourth quarter of 2011 and $19.7
million from the third quarter of 2012.

"For 2012, Cullen/Frost's annual earnings were at the highest level in company
history, a tribute to the hard work of every Frost employee," said Dick Evans,
Cullen/Frost chairman and CEO. "We are executing our plan well in an
environment of ongoing economic, regulatory and rate challenges. I was
especially pleased that average loans grew 5.1 percent for the year, as we are
seeing the results of our efforts to add relationships and build our company
during the recession. Both new and existing customers continue to demonstrate
their confidence in the strength of our institution, spurring a $2.1 billion
year-over-year growth in average deposits. Even with the persistent challenges
of a near-zero rate environment, I was encouraged to see a 4 percent growth in
net interest income. Our capital levels remain very strong."

"For the fourth quarter, we were able to grow both average loans and deposits
by double digits, with loans rising by 11.2 percent, to $8.9 billion and
deposits up by 14.2 percent, to $18.4 billion compared to the fourth quarter
of 2011. We are encouraged by the opportunities we see to leverage our new
relationships," Evans continued.

"Our credit disciplines remain strong, as demonstrated by a significant
decline in non-performing assets this quarter, both from the fourth quarter of
2011 and the third quarter of 2012.

"We are fortunate to operate in Texas, a state whose economy once again
outpaced that of the nation in 2012. Texas grew jobs at a strong 3.1 percent
in 2012, compared to the U.S. average of 1.4 percent.

"We are beginning to see some clarity with regard to the impact on business of
the new health care law. But persistent uncertainty—fueled by concerns about
the pace of the recovery and decisions coming out of Washington—is keeping
many businesses on the sidelines, delaying hiring or capital expenditure
decisions."

Well-respected third parties continue to validate Frost's service, culture and
performance. Adding to high rankings Frost has received from J.D. Power and
Associates and Greenwich Associates in 2012,  Moody's published bank
 financial strength ratings rank Frost Bank with the highest rating in the
U.S.  Along with the bank's A+ credit rating from Standard and Poor's, this
reinforces Frost's strong capital, liquidity and solid credit performance. 

"Although regulatory reform is impacting all financial services companies,
Cullen/Frost's culture and value proposition are enabling us to expand our
customer base, increase profitability and bring value to shareholders. We have
paid and increased the dividend we pay shareholders for 18 consecutive years.

Evans said the company opened three new financial centers in 2012, including
two in Houston and one in Austin. Frost also reinforced its commitment to
customer convenience by increasing its ATM network to more than 1,100 through
its partnership with Valero Corner Stores and Cardtronics.

"As always, our outstanding employees bring their own skills, dedication and
experience to the Frost culture. I thank them for their commitment to our
company."

For the year ended December 31, 2012, average annual total loans were $8.5
billion, a 5.1 percent increase from the $8.0 billion reported the previous
year. Average annual total deposits for 2012 rose to $17.3 billion, up 13.6
percent, or $2.1 billion, over the $15.2 billion reported in 2011. Net
interest income on a taxable-equivalent basis increased to $668.2 million, up
4.1 percent over the $642.1 million reported a year earlier, reflecting the
impact of the increasing volume of earning assets. For 2012, non-interest
income was $288.8 million, compared to $290.0 million reported for 2011, while
non-interest expense increased 3.0 percent over the previous year to $575.1
million.  

Noted financial data for the fourth quarter:

  o Tier 1 and Total Risk-Based Capital Ratios for the Corporation at the end
    of the fourth quarter of 2012 were 13.68 percent and 15.11 percent,
    respectively and are in excess of well-capitalized levels.  The ratio of
    tangible common equity to tangible assets was 8.30 percent at the end of
    the fourth quarter of 2012, compared to 8.82 percent for the same quarter
    last year. The tangible common equity ratio, which is a non-GAAP financial
    measure, is equal to end of period shareholders' equity less goodwill and
    intangible assets divided by end of period total assets less goodwill and
    intangible assets. Our current capital levels would result in our meeting
    today the fully phased-in Basel III capital requirements proposed by the
    U.S. bank regulators.
  o Net interest income on a taxable-equivalent basis for the fourth quarter
    totaled $172.2 million, an increase of 4.1 percent compared to the $165.3
    million reported for the fourth quarter of 2011. This increase primarily
    resulted from an increase in the average volume of earning assets and was
    partly offset by a decrease in the net interest margin. The net interest
    margin was 3.48 percent for the fourth quarter, compared to 3.76 percent
    for the fourth quarter of 2011 and 3.54 percent for the third quarter of
    2012.
  o Non-interest income for the fourth quarter of 2012 was $75.9 million, an
    increase of $8.2 million from the $67.7 million reported a year earlier.
    During the fourth quarter, Cullen/Frost recorded a $4.4 million gain on
    the sale of $596 million in short term treasuries. Trust and investment
    management fees were $20.5 million, up $1.7 million or 8.9 percent
    compared to $18.9 million a year earlier. Impacting trust fees was a
    $497,000 increase in investment fees, which are generally assessed based
    on the market value of trust assets that are managed and held in custody.
    Trust assets were $26.2 billion at the end of the fourth quarter of 2012,
    compared to $25.2 billion at December 31, 2011. Trust fees were also
    positively impacted by higher oil and gas fees ($165,000) and real estate
    fees ($171,000) from the fourth quarter of 2011. Insurance commissions and
    fees rose $986,000 to $8.4 million, from $7.5 million in the fourth
    quarter of 2011, with most of this increase the result of new business and
    rate increases.
  o Non-interest expense for the fourth quarter of 2012 was $146.1 million, up
    $2.2 million or 1.6 percent from the $143.8 million reported for the
    fourth quarter of 2011. Salaries were up $1.3 million over the same
    quarter a year earlier as a result of normal annual merit and market
    increases and incentive compensation. Other expense was $36.0 million, a
    $464,000 decrease from the $36.4 million reported for the fourth quarter
    of 2011.
  o For the fourth quarter of 2012, the provision for loan losses was $4.1
    million, compared to net charge-offs of $5.1 million. For the fourth
    quarter of 2011, the provision for loan losses was zero, compared to net
    charge offs of $5.3 million. The allowance for loan losses as a percentage
    of total loans was 1.13 percent at December 31, 2012, compared to 1.38
    percent at year-end 2011. Non-performing assets were $105.2 million at
    year-end, compared to $124.9 million the previous quarter, and $120.9
    million at year-end 2011.

Cullen/Frost Bankers, Inc. will host a conference call on Wednesday, January
30, 2013 at 10 a.m. Central Time (CT) to discuss the results for the quarter
and the year. The media and other interested parties are invited to access the
call in a "listen only" mode at 800-944-6430. Digital playback of the
conference call will be available after 12 p.m. CT until midnight Sunday,
February 3, 2013 at 855-859-2056, with the Conference ID# of 87416492. The
call will also be available by webcast on the company's website,
frostbank.com, and available for playback after 2 p.m. CT.  After entering the
website, go to "About Frost" on the top navigation bar, then click on Investor
Relations.

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company,
headquartered in San Antonio, with $23.1 billion in assets at December 31,
2012. Among the top 50 largest U.S. banks and one of 24 banks included in the
KBW Bank Index, Frost provides a wide range of banking, investments and
insurance services to businesses and individuals across Texas in the Austin,
Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio
regions. Founded in 1868, Frost has helped clients with their financial needs
during three centuries. Additional information is available at frostbank.com.

Forward-Looking Statements and Factors that Could Affect Future Results

Certain statements contained in this Earnings Release that are not statements
of historical fact constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 (the "Act"),
notwithstanding that such statements are not specifically identified as such.
In addition, certain statements may be contained in the Corporation's future
filings with the SEC, in press releases, and in oral and written statements
made by or with the approval of the Corporation that are not statements of
historical fact and constitute forward-looking statements within the meaning
of the Act. Examples of forward-looking statements include, but are not
limited to: (i) projections of revenues, expenses, income or loss, earnings or
loss per share, the payment or nonpayment of dividends, capital structure and
other financial items; (ii) statements of plans, objectives and expectations
of Cullen/Frost or its management or Board of Directors, including those
relating to products or services; (iii) statements of future economic
performance; and (iv) statements of assumptions underlying such statements.
Words such as "believes", "anticipates", "expects", "intends", "targeted",
"continue", "remain", "will", "should", "may" and other similar expressions
are intended to identify forward-looking statements but are not the exclusive
means of identifying such statements.

Forward-looking statements involve risks and uncertainties that may cause
actual results to differ materially from those in such statements. Factors
that could cause actual results to differ from those discussed in the
forward-looking statements include, but are not limited to:

  o Local, regional, national and international economic conditions and the
    impact they may have on the Corporation and its customers and the
    Corporation's assessment of that impact.
  o Volatility and disruption in national and international financial markets.
  o Government intervention in the U.S. financial system.
  o Changes in the mix of loan geographies, sectors and types or the level of
    non-performing assets and charge-offs.
  o Changes in estimates of future reserve requirements based upon the
    periodic review thereof under relevant regulatory and accounting
    requirements.
  o The effects of and changes in trade and monetary and fiscal policies and
    laws, including the interest rate policies of the Federal Reserve Board.
  o Inflation, interest rate, securities market and monetary fluctuations.
  o The effects of changes in laws and regulations (including laws and
    regulations concerning taxes, banking, securities and insurance) with
    which the Corporation and its subsidiaries must comply.
  o The soundness of other financial institutions.
  o Political instability.
  o Impairment of the Corporation's goodwill or other intangible assets.
  o Acts of God or of war or terrorism.
  o The timely development and acceptance of new products and services and
    perceived overall value of these products and services by users.
  o Changes in consumer spending, borrowings and savings habits.
  o Changes in the financial performance and/or condition of the Corporation's
    borrowers.
  o Technological changes.
  o Acquisitions and integration of acquired businesses.
  o The ability to increase market share and control expenses.
  o The Corporation's ability to attract and retain qualified employees.
  o Changes in the competitive environment in the Corporation's markets and
    among banking organizations and other financial service providers.
  o The effect of changes in accounting policies and practices, as may be
    adopted by the regulatory agencies, as well as the Public Company
    Accounting Oversight Board, the Financial Accounting Standards Board and
    other accounting standard setters.
  o Changes in the reliability of the Corporation's vendors, internal control
    systems or information systems.
  o Changes in the Corporation's liquidity position.
  o Changes in the Corporation's organization, compensation and benefit plans.
  o The costs and effects of legal and regulatory developments including the
    resolution of legal proceedings or regulatory or other governmental
    inquiries and the results of regulatory examinations or reviews.
  o Greater than expected costs or difficulties related to the integration of
    new products and lines of business.
  o The Corporation's success at managing the risks involved in the foregoing
    items.

Forward-looking statements speak only as of the date on which such statements
are made. The Corporation undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after the date on
which such statement is made, or to reflect the occurrence of unanticipated
events.

Greg Parker
Investor Relations
210/220-5632
or
Renee Sabel
Media Relations
210/220-5416

 

Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
(In thousands, except per share amounts)
                   2012                                             2011
                 4th Qtr     3rd Qtr     2nd Qtr     1st Qtr        4th Qtr
CONDENSED INCOME
STATEMENTS
        Net      $ 154,405   $ 151,532   $ 149,217   $   149,707    $    150,323
interest income
        Net
interest           172,156     167,341     163,972       164,707         165,340
income(1)
       
Provision for      4,125       2,500       2,355         1,100           --
loan losses
       
Non-interest
income:
           Trust
and investment     20,543      20,843      21,279        20,652          18,861
management fees
          
Service charges    21,162      20,797      20,639        20,794          21,475
on deposit
accounts
          
Insurance          8,436       9,964       9,171         12,377          7,450
commissions and
fees
          
Interchange and    4,330       4,194       4,292         4,117           4,166
debit card
transaction fees
           Other
charges,           7,740       7,265       7,825         7,350           7,125
commissions and
fees
           Net
gain (loss) on     4,435       --          370           (491)           --
securities
transactions
           Other   9,241       8,095       6,187         7,180           8,583
           Total
non-interest       75,887      71,158      69,763        71,979          67,660
income
       
Non-interest
expense:
          
Salaries and       67,442      64,984      62,624        63,702          66,126
wages
          
Employee           12,867      14,019      14,048        16,701          12,574
benefits
           Net     11,772      13,193      12,213        11,797          11,413
occupancy
          
Furniture and      13,932      14,193      13,734        13,420          13,454
equipment
          
Deposit            3,159       2,593       2,838         2,497           2,773
insurance
          
Intangible         918         973         994           1,011           1,052
amortization
           Other   35,977      34,495      36,085        32,912          36,441
           Total
non-interest       146,067     144,450     142,536       142,040         143,833
expense
        Income
before income      80,100      75,740      74,089        78,546          74,150
taxes
        Income     19,912      17,071      16,027        17,513          18,736
taxes
        Net      $ 60,188    $ 58,669    $ 58,062    $   61,033     $    55,414
income
PER SHARE DATA
        Net      $ 0.98      $ 0.95      $ 0.94      $   0.99       $    0.90
income – basic
        Net        0.97        0.95        0.94          0.99            0.90
income - diluted
        Cash       0.48        0.48        0.48          0.46            0.46
dividends
        Book
value at end of    39.32       39.35       38.48         37.81           37.27
quarter
OUTSTANDING
SHARES
       
Period-end         61,479      61,462      61,404        61,373          61,264
shares
       
Weighted-average   61,382      61,317      61,291        61,201          61,154
shares - basic
        Dilutive
effect of stock    339         369         344           332             54
compensation
       
Weighted-average   61,721      61,686      61,635        61,533          61,208
shares - diluted
SELECTED
ANNUALIZED
RATIOS
        Return
on average         1.09    %   1.11    %   1.14    %     1.23    %       1.12    %
assets
        Return
on average         9.84        9.75        9.95          10.59           9.74
equity
        Net
interest income
to average         3.48        3.54        3.61          3.73            3.76
earning
assets(1)

(1) Taxable-equivalent basis assuming a 35% tax rate.

 

Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
                         2012                                                  2011
                     4th Qtr       3rd Qtr      2nd Qtr      1st Qtr       4th Qtr
BALANCE SHEET
SUMMARY
          ($ in
millions)
        Average
Balance:
           Loans     $   8,868     $  8,635     $  8,268     $  8,050      $   7,975
           Earning       20,138       19,218       18,605       18,087         17,806
assets
           Total         21,964       21,010       20,401       19,920         19,579
assets
          
Non-interest-bearing     7,690        7,161        6,829        6,399          6,325
demand deposits
          
Interest-bearing         10,736       10,289       10,053       9,998          9,804
deposits
           Total         18,426       17,450       16,882       16,397         16,129
deposits
                         2,433        2,393        2,347        2,317          2,258
Shareholders' equity
        Period-End
Balance:
           Loans     $   9,224     $  8,811     $  8,490     $  8,127      $   7,995
           Earning       21,148       20,024       19,033       18,583         18,498
assets
           Goodwill
and intangible           544          545          546          547            539
assets
           Total         23,124       21,848       20,866       20,417         20,317
assets
           Total         19,497       18,245       17,277       16,909         16,757
deposits
                         2,417        2,419        2,363        2,321          2,284
Shareholders' equity
           Adjusted
shareholders'            2,179        2,144        2,110        2,076          2,036
equity(1)
ASSET QUALITY
          ($ in
thousands)
        Allowance    $   104,453   $  105,401   $  105,648   $  107,181    $   110,147
for loan losses
           as a
percentage of            1.13    %    1.20    %    1.24    %    1.32    %      1.38    %
period-end loans
        Net          $   5,073     $  2,747     $  3,888     $  4,066      $   5,286
charge-offs
          Annualized
as a percentage of       0.23    %    0.13    %    0.19    %    0.20    %      0.26    %
average loans
       
Non-performing
assets:
                     $   89,744    $  106,407   $  92,255    $  97,870     $   94,338
Non-accrual loans
                         15,502       18,524       19,818       22,676         26,608
Foreclosed assets
             Total   $   105,246   $  124,931   $  112,073   $  120,546    $   120,946
           As a
percentage of:
             Total
loans and foreclosed     1.14    %    1.41    %    1.32    %    1.48    %      1.51    %
assets
             Total       0.46         0.57         0.54         0.59           0.60
assets
        CONSOLIDATED
CAPITAL RATIOS
        Tier 1
Risk-Based Capital       13.68   %    14.10   %    14.07   %    14.47   %      14.38   %
Ratio
        Total
Risk-Based Capital       15.11        15.62        15.61        16.10          16.24
Ratio
        Leverage         8.28         8.59         8.65         8.68           8.66
Ratio
        Equity to
Assets Ratio             10.45        11.07        11.32        11.37          11.24
(period-end)
        Equity to
Assets Ratio             11.08        11.39        11.51        11.63          11.53
(average)

    

(1) Shareholders' equity excluding accumulated other comprehensive income
(loss).

 

Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
(In thousands, except per share amounts)
                 Year Ended December 31
                 2012          2011        2010        2009        2008
    CONDENSED
INCOME
STATEMENTS
    Net interest $   604,861   $ 581,776   $ 563,459   $ 536,679   $ 534,025
income
    Net interest     668,176     642,066     616,319     577,716     554,353
income(1)
    Provision
for possible         10,080      27,445      43,611      65,392      37,823
loan losses
    Non-interest
income:
      Trust fees
and investment       83,317      78,297      72,321      69,933      76,424
management fees
      Service
charges on           83,392      86,125      91,025      96,525      82,526
deposit accounts
      Insurance
commissions and      39,948      35,421      34,015      33,096      32,904
fees
     
Interchange and       16,933     29,625      30,542      26,248      23,959
debit card
transaction fees
      Other
charges,             30,180      27,750      25,380      23,826      32,726
commissions and
fees
      Net gain
(loss) on            4,314       6,414       6           (1,260)     (159)
securities
transactions
      Other          30,703      26,370      28,744      45,338      38,942
      Total
non-interest         288,787     290,002     282,033     293,706     287,322
income
    Non-interest
expense:
      Salaries       258,752     252,028     239,589     230,643     225,943
and wages
      Employee       57,635      52,939      52,352      55,224      47,219
benefits
      Net            48,975      46,968      46,166      44,188      40,464
occupancy
      Furniture      55,279      51,469      47,651      44,223      37,799
and equipment
      Deposit        11,087      12,714      20,451      25,812      4,597
insurance
      Intangible     3,896       4,387       5,125       6,537       7,906
amortization
      Other          139,469     137,593     124,207     125,611     122,717
      Total
non-interest         575,093     558,098     535,541     532,238     486,645
expense
    Income
before income        308,475     286,235     266,340     232,755     296,879
taxes
    Income taxes     70,523      68,700      57,576      53,721      89,624
    Net income   $   237,952   $ 217,535   $ 208,764   $ 179,034   $ 207,255
PER SHARE DATA
    Net income - $   3.87      $ 3.55      $ 3.44      $ 3.00      $ 3.51
basic
    Net income -     3.86        3.54        3.44        3.00        3.50
diluted
    Cash             1.90        1.83        1.78        1.71        1.66
dividends
    Book value       39.32       37.27       33.74       31.55       29.68
OUTSTANDING
SHARES
    Period-end       61,479      61,264      61,108      60,038      59,416
shares
   
Weighted-average     61,298      61,101      60,411      59,456      58,846
shares - basic
    Dilutive
effect of stock      345         177         175         58          324
compensation
   
Weighted-average     61,643      61,278      60,586      59,514      59,170
shares - diluted
SELECTED ANNUAL
RATIOS
    Return on        1.14    %   1.17    %   1.21    %   1.14    %   1.51    %
average assets
    Return on        10.03       10.01       10.30       9.78        13.11
average equity
    Net interest
income to average     3.59       3.88        4.08        4.23        4.67
earning assets(1)

 

(1)  Taxable-equivalent basis assuming a 35% tax rate.

 

Cullen/Frost Bankers, Inc.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
                     Year Ended December 31
                     2012        2011        2010        2009        2008
BALANCE SHEET
SUMMARY
($ in millions)
Average Balance:
Loans                $ 8,457     $ 8,043     $ 8,125     $ 8,653     $ 8,314
Earning assets         19,016      16,769      15,333      13,804      11,868
Total assets           20,827      18,569      17,187      15,702      13,685
Non-interest-bearing   7,022       5,739       5,024       4,259       3,615
demand deposits
Interest bearing       10,270      9,484       9,024       8,161       6,916
deposits
Total deposits         17,292      15,223      14,048      12,420      10,531
Shareholders' equity   2,373       2,172       2,028       1,831       1,580
Period-End Balance:
Loans                $ 9,224     $ 7,995     $ 8,117     $ 8,368     $ 8,844
Earning assets         21,148      18,498      15,806      14,437      13,001
Goodwill and           544         539         542         547         551
intangible assets
Total assets           23,124      20,317      17,617      16,288      15,034
Total deposits         19,497      16,757      14,479      13,313      11,509
Shareholders' equity   2,417       2,284       2,062       1,894       1,764
Adjusted
shareholders'          2,179       2,036       1,907       1,740       1,626
equity(1)
ASSET QUALITY
($ in thousands)
Allowance for        $ 104,453   $ 110,147   $ 126,316   $ 125,309   $ 110,244
possible loan losses
As a percentage of     1.13    %   1.38    %   1.56    %   1.50    %   1.25    %
period-end loans
Net charge-offs:     $ 15,774    $ 43,614    $ 42,604    $ 50,327    $ 19,918
As a percentage of     0.19    %   0.54    %   0.52    %   0.58    %   0.24    %
average loans
Non-performing
assets:
Non-accrual loans    $ 89,744    $ 94,338    $ 137,140   $ 146,867   $ 65,174
Foreclosed assets      15,502      26,608      27,810      33,312      12,866
Total                $ 105,246   $ 120,946   $ 164,950   $ 180,179   $ 78,040
As a percentage of:
Total loans and        1.14    %   1.51    %   2.03    %   2.14    %   0.88    %
foreclosed assets
Total assets           0.46        0.60        0.94        1.11        0.52

 

(1) Shareholders' equity excluding accumulated other comprehensive income
    (loss).

SOURCE Cullen/Frost Bankers, Inc.

Website: http://www.frostbank.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement