Overview

* Cullen/Frost Q2 net income rises to $155.3 mln from $143.8 mln yr/yr

* Net interest income for Q2 grows 7.9% yr/yr to $450.6 mln

* Company sees slight increase in average total deposits despite seasonal weakness

Result Drivers

* LOAN GROWTH - Average loans increased by $1.4 bln, or 7.2%, driven by organic growth, per CEO Phil Green

* DEPOSIT INCREASE - Despite seasonal weakness, average total deposits rose by $1.3 bln, or 3.1%, compared to last year's second quarter

* NON-INTEREST INCOME - Increase in trust and investment management fees and service charges on deposit accounts contributed to higher non-interest income

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $2.39

Q2 Net $157 mln

Income

Q2 Net $429.60

Interest mln

Income

Q2 Basic $2.39

EPS

Q2 $186.62

Pretax mln

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)