Cullen/Frost Reports 13% YoY Net Income Gain, Raises Dividend to $1.03
CFR•In Q1 2026, Cullen/Frost Bankers reported net income of $169.3 million, or $2.65 per share, up from $149.3 million and $2.30 a year earlier, while net interest income rose 5.6% to $460.8 million. The board raised the quarterly dividend 3% to $1.03 and average loans climbed 5.9% to $22.0 billion.
1. Q1 2026 Financial Highlights
Cullen/Frost Bankers posted net income available to common shareholders of $169.3 million in the first quarter, up from $149.3 million a year earlier. Diluted earnings per share increased to $2.65 from $2.30, while returns on average assets and equity were 1.32% and 15.15%, respectively.
2. Loan and Deposit Growth
Average loans rose $1.2 billion, or 5.9%, to $22.0 billion compared to Q1 2025, driven by expansion in Houston, Dallas, and Austin locations. Average deposits climbed 1.4% year over year to $42.2 billion, though they dipped 2.6% from Q4 2025.
3. Dividend Increase and Capital Ratios
The board approved a 3% hike in the quarterly common dividend to $1.03 per share. Common Equity Tier 1, Tier 1 and total risk-based capital ratios stood at 14.07%, 14.51% and 15.89%, respectively, all above well-capitalized thresholds.
