Cullen/Frost Bankers reported higher third-quarter earnings as loan and deposit balances expanded, with net interest income also rising from a year earlier. The San Antonio-based bank said it continued to grow its customer base in Texas and announced fourth-quarter dividends on its common and preferred shares.
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Earnings increased year over year. Net income available to common shareholders was $178.5 million, up from $172.7 million in the third quarter of 2025. Diluted earnings per share rose to $2.84 from $2.67.
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Net interest income and balances grew. Taxable-equivalent net interest income increased 5.8% to $490.8 million. Average loans reached $23.4 billion, up 9.0% from a year earlier and 3.3% from the second quarter. Average deposits were $43.6 billion, up 3.6% year over year and 2.3% sequentially.
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Returns edged lower. Return on average assets was 1.31%, compared with 1.32% a year earlier. Return on average common equity was 16.16%, down from 16.72%.
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The bank reported customer growth across its businesses. Its overall banking customer base grew at a 5% annual rate. Wealth Management managed customer accounts increased by more than 5% from a year earlier, while commercial customers at Frost Insurance Agency grew by more than 10%.
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Dividends declared. The board declared fourth-quarter dividends on common and preferred stock. The announcement provided here does not state the dividend amounts or payment dates.
The results show growth in both lending and deposits alongside higher net interest income and earnings. The bank’s reported returns were slightly below year-earlier levels, despite the increase in quarterly profit.