Q4 2025 Cullen/Frost Bankers Inc Earnings Call Transcript
Key Points
- Cullen/Frost Bankers Inc (CFR) reported a 7.4% increase in net income for the fourth quarter, reaching $164.6 million.
- The company's full-year net income available to common shareholders increased by 11.5% to $641.9 million.
- Average deposits grew by 3.5% year over year, reaching $43.3 billion in the fourth quarter.
- The mortgage lending platform exceeded its goal, ending the year with $595 million in loans outstanding, surpassing the $500 million target.
- The expansion strategy added more than 78,000 new households, contributing significantly to loan and deposit growth.
- Net interest margin decreased slightly to 3.66% from 3.69% the previous year, impacted by higher interest-bearing deposits.
- Non-performing assets increased to $72 million at the end of the fourth quarter, up from $47 million last quarter.
- The company faced a specific reserve of $10 million related to a shared national credit in the beverage distribution business.
- The taxable equivalent yield on the total investment portfolio decreased by three basis points to 3.82%.
- The cost of interest-bearing deposits was 1.75%, reflecting a competitive environment and impacting net interest income.
Ladies and gentlemen, thank you for your patience. The conference will be beginning in just a few minutes. Once again, thank you for your patience. We'll be beginning in a few minutes.
Greetings. Welcome to Colin for us Bankers Incorporated. Fourth quarter in full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press 0 on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to AB Mendez, senior Vice President and director of investor relations. Thank you. You may begin.
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Thanks, Jerry. This afternoon's conference call will be led by Phil Green, Chairman and CEO, and Dan Geddes, Group executive Vice President and CFO.
Before I turn the call over to Phil and Dan, I need to take a moment to
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