Q3 net interest margin was 3.56% vs. 3.54% for Q2 and 3.44% for 3Q23. Common Equity Tier 1, Tier 1 and Total Risk-Based Capital Ratios at the end of Q3 were 13.55%, 14.02% and 15.50%, respectively. Book value per common share at end of quarter was $62.41 from $55.02 at previous quarter end. “In Q3 we saw the beginning of an expected seasonal increase in deposits and continued growth in loans and new relationships,” said CEO Phil Green. “Frost bankers continued to provide outstanding experiences to customers across all of our regions and all areas of the business. That includes our Frost Mortgage product, where total loan originations have recently passed $200M, allowing more customers to get a Frost experience as they go through one of the most important financial events of their lives.”
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Read More on CFR:
- Cullen/frost Bankers (CFR) Q3 Earnings Cheat Sheet
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- Cullen/Frost price target lowered to $117 from $121 at Morgan Stanley
- Cullen/Frost price target lowered to $104 from $107 at Citi
- Cullen/Frost price target lowered to $123 from $124 at Wedbush
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