Cullen/Frost Bankers, Inc. (CFR) Financial Statements (2024 and earlier)

Company Profile

Business Address 111 W HOUSTON ST
SAN ANTONIO, TX 78205
State of Incorp. TX
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,010,1119,211,92411,820,45513,528,89813,553,03514,457,083
Cash and cash equivalents7,010,1119,211,92411,820,45513,528,89813,553,03514,457,083
Total current assets:7,010,1119,211,92411,820,45513,528,89813,553,03514,457,083
Noncurrent Assets
Operating lease, right-of-use asset    287,200  
Property, plant and equipment1,154,2351,130,5941,102,6951,068,7491,046,4951,046,410
Intangible assets, net (including goodwill) 655,160655,242655,338655,438655,541655,672
Goodwill 654,952654,952654,952654,952654,952654,952
Intangible assets, net (excluding goodwill) 208290386486589720
Total noncurrent assets:1,809,3951,785,8361,758,0332,011,3871,702,0361,702,082
Other undisclosed assets39,777,69440,247,89839,313,88837,405,28436,529,81735,136,886
TOTAL ASSETS:48,597,20051,245,65852,892,37652,945,56951,784,88851,296,051
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt3,569,8704,237,4444,670,9412,082,7391,664,6851,842,618
Total current liabilities:3,569,8704,237,4444,670,9412,082,7391,664,6851,842,618
Noncurrent Liabilities
Other undisclosed liabilities41,640,58843,540,41345,084,20748,050,35846,773,22845,677,141
Total liabilities:45,210,45847,777,85749,755,14850,133,09748,437,91347,519,759
Equity
Equity, attributable to parent3,386,7423,467,8013,137,2282,812,4723,346,9753,776,292
Preferred stock145,452145,452145,452145,452145,452145,452
Common stock644644643642642642
Treasury stock, value(27,623)(1,109) (3,285)(10,473)(12,687)
Additional paid in capital1,040,7541,035,9611,029,7561,018,6241,015,4511,012,033
Accumulated other comprehensive loss(1,305,027)(1,142,138)(1,348,294)(1,528,925)(874,206)(371,790)
Retained earnings3,532,5423,428,9913,309,6713,179,9643,070,1093,002,642
Total equity:3,386,7423,467,8013,137,2282,812,4723,346,9753,776,292
TOTAL LIABILITIES AND EQUITY:48,597,20051,245,65852,892,37652,945,56951,784,88851,296,051

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues488,794505,085504,137455,368386,135350,461
Net investment income542,328535,195504,528408,330306,602256,261
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(9,901)(9,104)    
Other undisclosed gross profit   (3,000)   
Gross profit:478,893495,981501,137455,368386,135350,461
Operating expenses(31,796)(30,349)(109,474)(28,236)(28,510)(27,411)
Other operating income, net
(Noninterest Income, Other Operating Income)
10,33611,67616,5299,4489,7079,533
Operating income:457,433477,308408,192436,580367,332332,583
Interest and debt expense(157,062)(135,375)(106,071)(52,783)(18,394)(7,190)
Income from continuing operations before equity method investments, income taxes:300,371341,933302,121383,797348,938325,393
Other undisclosed loss from continuing operations before income taxes(106,520)(131,094)(82,281)(186,327)(209,150)(213,664)
Income from continuing operations before income taxes:193,851210,839219,840197,470139,788111,729
Income tax expense(31,733)(33,186)(28,666)(27,710)(20,674)(12,627)
Income from continuing operations:162,118177,653191,174169,760119,11499,102
Income before gain (loss) on sale of properties:169,760119,11499,102
Net income attributable to parent:162,118177,653191,174169,760119,11499,102
Preferred stock dividends and other adjustments(1,669)(1,669)(1,669)(1,668)(1,669)(1,669)
Net income available to common stockholders, diluted:160,449175,984189,505168,092117,44597,433

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:162,118177,653191,174169,760119,11499,102
Other comprehensive income (loss)(162,889)206,156180,631(654,719)(502,416)(719,108)
Comprehensive income (loss), net of tax, attributable to parent:(771)383,809371,805(484,959)(383,302)(620,006)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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