Jun 2026 (Q2 FY26) — Jul 30, 2026
Cullen/Frost Q2 FY26 — Strong Organic Growth and NII Expansion
Read the full callCullen/Frost (CFR) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Cullen/Frost earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 576 | +5.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 172 | +9.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
5 of 14 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Average loan growth | 5% to 7% | Dec 2025 | We expect full year average loan growth to be in the range of 7% to 8%. This increases the prior guidance of 6% to 7%. | Revised Up |
| Average deposit growth | up 2% to 3% | Dec 2025 | Regarding deposits, we expect full year average growth to be in the range of 2% to 3%, unchanged from prior guidance. | On Track |
9 of CULLEN/FROST BANKERS, INC.'s 34 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 32 more targets are in the full ledger.
Claimed
- Per share earnings increased 13% to $2.70 compared to $2.39 in Q2 last year.
- Consumer checking account household growth accelerated to 5.7% year-over-year.
- Average loans grew to $22.6 billion, up from $21.1 billion in Q2 last year.
- The 90-day weighted loan pipeline reached a historical high of $2.17 billion, an 11% increase from Q1.
- Full-year noninterest income growth guidance was raised to 7.5%-8.5% from 4%-5%.
Qualified
- Nonperforming assets increased to $114 million (49 basis points of period-end loans) from $73 million last quarter.
- Net charge-offs for the quarter were $9.5 million, up from $5.7 million last quarter.
- The net unrealized loss on the available-for-sale portfolio increased to $1.15 billion from $1.04 billion at the end of the previous quarter.
Price
$153.21 −1.19% · −$1.84
Performance +25.1% 1Y
1Y: $122.5 on 17 Oct 2025 → $153.21. High $170.08 (14 Aug 2026), low $119.85 (20 Nov 2025).
- Previous close
- $155.05
- 52-week range
- $119.85 – $170.08
- One year
- +22.47%
Overview
- Symbol
- CFR
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
5 of 14 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Average loan growth | 5% to 7% | Dec 2025 | We expect full year average loan growth to be in the range of 7% to 8%. This increases the prior guidance of 6% to 7%. | Revised Up |
| Average deposit growth | up 2% to 3% | Dec 2025 | Regarding deposits, we expect full year average growth to be in the range of 2% to 3%, unchanged from prior guidance. | On Track |
Claimed
- Per share earnings increased 13% to $2.70 compared to $2.39 in Q2 last year.
- Consumer checking account household growth accelerated to 5.7% year-over-year.
- Average loans grew to $22.6 billion, up from $21.1 billion in Q2 last year.
- The 90-day weighted loan pipeline reached a historical high of $2.17 billion, an 11% increase from Q1.
- Full-year noninterest income growth guidance was raised to 7.5%-8.5% from 4%-5%.
Qualified
- Nonperforming assets increased to $114 million (49 basis points of period-end loans) from $73 million last quarter.
- Net charge-offs for the quarter were $9.5 million, up from $5.7 million last quarter.
- The net unrealized loss on the available-for-sale portfolio increased to $1.15 billion from $1.04 billion at the end of the previous quarter.
The full ledger
Open CULLEN/FROST BANKERS, INC.’s full ledger
A free account opens 5 company ledgers a month. All 34 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
Cullen/Frost Bankers Q1 FY26 — Strong Loan Growth and Branch Expansion Accretion Amidst Abrupt Call Termination
Read the full callEvery analysed call
Cullen/Frost earnings calls (CFR)
Financials
What the filings say
Net profit, year on year: +10% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 518 | 536 | 540 | 547 | 567 | 581 | 575 | 576 |
| Interest | 204 | — | 169 | 172 | 178 | — | 139 | 147 |
| Profit before tax | 175 | 184 | 179 | 187 | 208 | 198 | 202 | 205 |
| Tax rate | 16.4% | 15.8% | 15.7% | 15.9% | 16.2% | 16.0% | 15.5% | 15.9% |
| Net profit | 147 | 155 | 151 | 157 | 174 | 166 | 171 | 172 |
| EPS ($ per share) | 2.24 | — | 2.30 | 2.39 | 2.67 | — | 2.65 | 2.70 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 2,440 | 2,668 | 2,751 | 2,957 | 3,310 | 3,658 | 3,951 | 4,309 |
| Total liabilities | 28,924 | 30,116 | 38,098 | 46,439 | 49,755 | 47,129 | 48,622 | 48,468 |
| Fixed assets | 552 | 1,012 | 1,046 | 1,050 | 1,103 | 1,190 | 1,245 | 1,313 |
| Total assets | 32,293 | 34,027 | 42,391 | 50,878 | 52,892 | 50,845 | 52,520 | 53,041 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 562 | 634 | 524 | 648 | 723 | 479 | 990 | 274 |
| Cash from investing | -1,913 | -1,387 | -1,631 | -2,525 | -8,277 | -943 | -181 | -1,601 |
| Cash from financing | 254 | 585 | 7,607 | 8,171 | 3,000 | -2,877 | 738 | -33 |
| Capital expenditure | -79 | -207 | -95 | -66 | -103 | -159 | -128 | -147 |
| Free cash flow | 483 | 427 | 429 | 582 | 620 | 320 | 862 | 127 |
CFR revenue by segment
Frost Wealth Advisors shrank from 10% to 0% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Bank | 91% | 90% | 100% | 100% | 100% | 100% | 100% | 100% | +17.2% |
| Frost Wealth Advisors | 10% | 10% | <1% | <1% | <1% | <1% | <1% | <1% | +150.0% |
| Non Banks | -1% | -1% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CFR operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Net interest margin | 3.74%Our net interest margin percentage was 3.74% for the quarter, up 8 basis points from the 3.66% reported last quarter.Source: earnings call transcript | 3.75%Our net interest margin percentage was 3.75% for the quarter, up 1 basis point from the 3.74% reported last quarter.Source: earnings call transcript | 0 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
48 filings between Oct 25, 2025 and Jun 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$350.1K
4 sales by 4 insiders
Compensation
not trading decisions- 8
- Award — granted as compensation
- 11
- Option exercise — converted options into shares
- 11
- Tax withheld — shares kept back by the company to cover tax
Also filed: 8 dispositions to the issuer, 4 gifts, 2 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Berman Bobby | — | $137.1K | Jan 30, 2026 |
| Severyn Carol Jean | — | $124.1K | Jun 12, 2026 |
| Rhodes Coolidge E JR | — | $88.9K | Dec 9, 2025 |
| Pullin Ericka Lynn | — | $43 | Dec 12, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jun 12, 2026 | Severyn Carol Jean GEVP and Chief Risk Officer | Sale | 837 | $124.1K |
| Mar 9, 2026 | EDWARDS CRAWFORD H Director | Gift | 750 | $0 |
| Mar 6, 2026 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Other | 700 | — |
| Mar 6, 2026 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Other | 700 | $88.9K |
| Feb 10, 2026 | GREEN PHILLIP D Chairman and CEO | Gift | 912 | $0 |
| Feb 5, 2026 | Alonzo Annette M GEVP Chief HR Officer | Disposition to issuer | 690 | $99.1K |
| Feb 5, 2026 | Alonzo Annette M GEVP Chief HR Officer | Award | 1,638 | $0 |
| Feb 5, 2026 | Bracher Paul President of CFR | Disposition to issuer | 940 | $135.0K |
| Feb 5, 2026 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Award | 1,724 | $0 |
| Feb 5, 2026 | GREEN PHILLIP D Chairman and CEO | Disposition to issuer | 3,601 | $517.1K |
| Feb 5, 2026 | GREEN PHILLIP D Chairman and CEO | Award | 9,124 | $0 |
| Feb 5, 2026 | Kasanoff Howard L. GEVP Chief Credit Officer | Disposition to issuer | 393 | $56.4K |
| Feb 5, 2026 | Severyn Carol Jean GEVP and Chief Risk Officer | Award | 1,681 | $0 |
| Feb 5, 2026 | Stead Jimmy GEVP Chief Consumer Banking | Award | 2,155 | $0 |
| Feb 5, 2026 | Stead Jimmy GEVP Chief Consumer Banking | Disposition to issuer | 885 | $127.1K |
| Feb 5, 2026 | Berman Bobby GEVP Research & Strategy | Award | 1,293 | $0 |
| Feb 5, 2026 | Berman Bobby GEVP Research & Strategy | Disposition to issuer | 549 | $78.8K |
| Feb 5, 2026 | Bracher Paul President of CFR | Award | 2,299 | $0 |
| Feb 5, 2026 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Disposition to issuer | 716 | $102.8K |
| Feb 5, 2026 | Kasanoff Howard L. GEVP Chief Credit Officer | Award | 882 | $0 |
| Feb 5, 2026 | Severyn Carol Jean GEVP and Chief Risk Officer | Disposition to issuer | 700 | $100.5K |
| Jan 30, 2026 | Berman Bobby GEVP Research & Strategy | Sale | 1,000 | $137.1K |
| Dec 12, 2025 | Pullin Ericka Lynn GEVP, Culture & People Dev. | Sale | 0 | $43 |
| Dec 9, 2025 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Gift | 495 | $0 |
| Dec 9, 2025 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Sale | 700 | $88.9K |
| Dec 5, 2025 | GREEN PHILLIP D Chairman and CEO | Gift | 2,892 | $0 |
| Oct 25, 2025 | Henson Matthew Bradley Chief Accounting Officer | Tax withheld | 102 | $12.7K |
| Oct 25, 2025 | Henson Matthew Bradley Chief Accounting Officer | Option exercise | 419 | $0 |
| Oct 25, 2025 | Pullin Ericka Lynn GEVP, Culture & People Dev. | Tax withheld | 93 | $11.6K |
| Oct 25, 2025 | Kasanoff Howard L. GEVP Chief Credit Officer | Option exercise | 1,073 | $0 |
| Oct 25, 2025 | Geddes Dan GEVP & Chief Financial Officer | Tax withheld | 255 | $31.8K |
| Oct 25, 2025 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Tax withheld | 825 | $103.0K |
| Oct 25, 2025 | Rhodes Coolidge E JR Group EVP General Counsel/Sec | Option exercise | 2,097 | $0 |
| Oct 25, 2025 | Severyn Carol Jean GEVP and Chief Risk Officer | Tax withheld | 804 | $100.4K |
| Oct 25, 2025 | Severyn Carol Jean GEVP and Chief Risk Officer | Option exercise | 2,045 | $0 |
| Oct 25, 2025 | Stead Jimmy GEVP Chief Consumer Banking | Option exercise | 2,621 | $0 |
| Oct 25, 2025 | Alonzo Annette M GEVP Chief HR Officer | Tax withheld | 783 | $97.8K |
| Oct 25, 2025 | Alonzo Annette M GEVP Chief HR Officer | Option exercise | 1,992 | $0 |
| Oct 25, 2025 | Bracher Paul President of CFR | Tax withheld | 1,100 | $137.3K |
| Oct 25, 2025 | Bracher Paul President of CFR | Option exercise | 2,796 | $0 |
| Oct 25, 2025 | Berman Bobby GEVP Research & Strategy | Tax withheld | 616 | $76.9K |
| Oct 25, 2025 | Stead Jimmy GEVP Chief Consumer Banking | Tax withheld | 1,031 | $128.7K |
| Oct 25, 2025 | Berman Bobby GEVP Research & Strategy | Option exercise | 1,573 | $0 |
| Oct 25, 2025 | GREEN PHILLIP D Chairman and CEO | Tax withheld | 4,366 | $545.1K |
| Oct 25, 2025 | GREEN PHILLIP D Chairman and CEO | Option exercise | 11,097 | $0 |
| Oct 25, 2025 | Pullin Ericka Lynn GEVP, Culture & People Dev. | Option exercise | 384 | $0 |
| Oct 25, 2025 | Geddes Dan GEVP & Chief Financial Officer | Option exercise | 1,049 | $0 |
| Oct 25, 2025 | Kasanoff Howard L. GEVP Chief Credit Officer | Tax withheld | 422 | $52.7K |
| Aug 22, 2025 | Severyn Carol Jean GEVP and Chief Risk Officer | Gift | 1,000 | $0 |
| May 2, 2025 | Henson Matthew Bradley Chief Accounting Officer | Purchase | 1,870 | $31.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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