Cullen/Frost Bankers, Inc. reported a net income of $157.0 million for the second quarter of 2025, translating to earnings of $2.39 per diluted share, marking an increase from $145.5 million, or $2.21 per diluted share, in the same quarter of 2024. For the first half of 2025, net income available to common shareholders reached $304.6 million, up from $277.9 million in the prior year. The bank's total revenue for the quarter was bolstered by a 7.9% increase in net interest income, which rose to $429.6 million, driven by a favorable shift in interest rates and an increase in loan volumes.
Comparatively, Cullen/Frost's total assets decreased to $51.4 billion as of June 30, 2025, down from $52.5 billion at the end of 2024. The decline was primarily attributed to a reduction in interest-bearing deposits, which fell from $9.5 billion to $6.3 billion. The bank's total loans increased by $499.7 million, or 2.4%, to $21.3 billion, with notable growth in energy loans, which rose by 16.5% to $1.3 billion. The bank's allowance for credit losses on loans was reported at $277.8 million, representing 1.31% of total loans, reflecting a slight increase from the previous period.
In terms of operational developments, Cullen/Frost has continued to expand its customer base, with total deposits amounting to $41.7 billion, a decrease from $42.7 billion at the end of 2024. The bank's non-interest income also saw a rise, totaling $117.3 million for the quarter, up from $111.2 million a year earlier, driven by increased service charges and trust management fees. The bank's employee headcount has also grown, reflecting its ongoing investment in expanding its market presence.
Looking ahead, Cullen/Frost remains optimistic about its growth trajectory, with management projecting continued improvements in net interest income and overall profitability. The bank's strategic focus on enhancing its product offerings and expanding its geographic footprint is expected to support its financial performance in the coming quarters. Additionally, the bank's capital ratios remain strong, with a Common Equity Tier 1 capital ratio of 13.98%, well above regulatory requirements, indicating a solid foundation for future growth and stability.
About CULLEN/FROST BANKERS, INC.
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