Strong core earnings beat with accelerating loan growth and margin expansion. The 3% dividend increase signals management confidence. Watch for continued NIM expansion and expense control in coming quarters. The $230M remaining buyback authorization provides downside support.
Price Chart
Executive Summary
Cullen/Frost Bankers reported Q1 2026 net income available to common shareholders of $169.3M ($2.65 diluted EPS), up 13.5% YoY from $149.3M ($2.30). Net interest income (taxable-equivalent) rose 5.6% to $460.8M, driven by loan growth of 5.9% and net interest margin expansion to 3.74%. The board increased the quarterly common dividend by 3% to $1.03 per share. Credit quality remained stable with net charge-offs of $5.7M (0.11% annualized of average loans).
Key Financial Metrics
Key Facts
- Q1 2026 diluted EPS $2.65 vs $2.30 YoY, up 15.2%
- Net income available to common shareholders $169.3M vs $149.3M YoY, up 13.5%
- Net interest income (taxable-equivalent) $460.8M, up 5.6% YoY
- Net interest margin expanded to 3.74% from 3.60% YoY
- Average loans grew 5.9% YoY to $22.0B
- Average deposits grew 1.4% YoY to $42.2B
- Non-interest income $136.3M, up 9.9% YoY
- Quarterly common dividend increased 3.0% to $1.03 per share
- Repurchased 507,753 shares for $70.0M in Q1; $230M remaining under $300M authorization
- Credit loss expense $6.7M, down from $13.1M in Q1 2025
- Allowance for credit losses 1.28% of loans vs 1.32% a year ago
- Non-accrual loans $72.4M vs $83.5M a year ago
Financial Impact
EPS grew 15.2% YoY to $2.65; net income up 13.5%; NIM expanded 14bp to 3.74%; dividend increased 3%
Risk Factors
- Average deposits declined 2.6% sequentially from Q4 2025, signaling potential funding pressure
- Non-accrual loans increased to $72.4M from $70.5M in Q4 2025
- Non-interest expense grew 5.1% YoY, outpacing NII growth of 5.6%
- Geopolitical and tariff uncertainty noted in forward-looking statements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000039263-26-000033 |
| Document: cfr-20260430.htm | 0000039263-26-000033 |
| Document: 0000039263-26-000033-index-headers.html | 0000039263-26-000033 |
| Document: 0000039263-26-000033-index.html | 0000039263-26-000033 |
| Document: 0000039263-26-000033.txt | 0000039263-26-000033 |
| 8-K Data (Synthetic) | 0000039263-26-000033 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 17, 2026 10w ago | 8-K | $168.07 $164.39 | ▼ −2.19% | ▼ −1.00% | $157.58 (−6.24%) |
Jul 30, 2026 12w ago | Press Release | $163.49 $164.76 | ▲ +0.78% | ▼ −2.85% | $157.58 (−3.61%) |
Jul 28, 2026 13w ago | Institutional Cluster | $167.06 $168.94 | ▲ +1.13% | ▼ −1.14% | $157.58 (−5.67%) |
Jul 9, 2026 15w ago | Press Release | $156.86 $163.52 | ▲ +4.25% | ▲ +4.81% | $157.58 (+0.46%) |
Jun 15, 2026 19w ago | Institutional Cluster | $145.04 $149.39 | ▲ +3.00% | ▲ +4.38% | $157.58 (+8.65%) |
Apr 30, 2026 25w ago | 8-K | $17.11 $17.11 | ▲ +0.00% | ▼ −1.73% | $157.58 (+820.98%) |
Mar 20, 2026 31w ago | DEFA14A | $131.56 $133.64 | ▲ +1.58% | ▲ +3.73% | $157.58 (+19.78%) |
US Market Status
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