Cullen/Frost Bankers Inc. earned $2.21 a share in the quarter ended June 30, beating the average estimate of analysts of $2.07 a share.
The San Antonio -based parent company of Frost Bank reported mixed second-quarter results, with profit declining despite its top line rising. Cullen/ Frost Bank ers Inc. earned $143.8 million, or $2.21 a share, on $528.8 million in revenue in the three months ended June 30. By comparison, the company earned $160.4 million, or $2.47 a share, on $512.1 million in revenue in the same period last year.
In its most recent survey of banking conditions, the Federal Reserve Bank of Dallas reported that loan volumes increased at a faster pace in June despite credit standards continuing to tighten. “Bankers’ outlooks remain mixed: they expect an increase in loan demand six months from now, but a deterioration in loan performance and business activity,” the Federal Reserve said. It added that expectations of a decline have “moderated toward stabilization.
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