Cullen/Frost reports Q1 EPS $2.30, consensus $2.17

Reports Q1 net interest margin 3.60% vs. 3.48% for 1Q24 and 3.53% for 4Q24. Common Equity Tier 1 Risk-Based Capital Ratio was 13.84% vs. 13.62% in the prior quarter. “In Q1 we continued to see solid loan growth, and our deposit trends returned to our normal first quarter seasonality. We remain focused on generating continued, sustainable organic growth and expanding to offer the Frost experience to more customers throughout the state, and our strong first quarter results demonstrate that our strategy is working,” said CEO Phil Green. “We continue to make investments in our own long-term growth, and those investments are bearing fruit. In the next month we plan to open our 199th location, in the Fort Worth region, and our 200th Frost location in Pflugerville, just north of Austin. At that point we will have increased our total location count by more than 50 percent since we launched our organic expansion program in December of 2018.”