Cullen/Frost Bankers, Inc. reported net income available to common shareholders of $155.3 million for the second quarter of 2025, an increase from $143.8 million in the second quarter of 2024. On a per-share basis, diluted earnings were $2.39, up from $2.21 reported a year earlier.
Net interest income on a taxable-equivalent basis for the second quarter of 2025 was $450.6 million, representing a 7.9% increase compared to the same quarter in 2024. Average loans grew by $1.4 billion, or 7.2%, to $21.1 billion year-over-year, and average deposits increased by $1.3 billion, or 3.1%, to $41.8 billion compared to the second quarter of 2024.
For the first six months of 2025, net income available to common shareholders was $304.6 million, up 9.6% compared to $277.9 million for the first six months of 2024. Diluted EPS for the first six months of 2025 was $4.69, compared to $4.27 in the year-earlier period. Cullen/Frost Chairman and CEO Phil Green emphasized the durability of the organic growth model and consistent execution by Frost bankers.
The Cullen/Frost board declared a third-quarter cash dividend of $1.00 per common share, payable September 15, 2025. As of June 30, 2025, the company's assets totaled $51.4 billion. The allowance for credit losses on loans stood at $277.8 million, representing 1.31% of total loans, while non-accrual loans decreased to $62.4 million, or 0.29% of total loans.
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