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cullen/frost bankers inc (CFZ) Snapshot

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07/7/14 - €58.95
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cullen/frost bankers inc (CFZ) Details

Cullen/Frost Bankers, Inc. operates as the holding company for Frost Bank that offers commercial and consumer banking, and other financial products and services primarily in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, such as financing for industrial and commercial properties, as well as for interim construction; financing for equipment, inventories, and accounts receivable; acquisition financing; commercial leasing; and treasury management services. The company also offers consumer banking services, including checking accounts, savings programs, automated teller machines, overdraft facilities, installment and real estate loans, home equity loans and lines of credit, deposit services, safe deposit facilities, and brokerage services. In addition, it provides international banking services comprising accepting deposits, making loans, issuing letters of credit, handling foreign collections, transmitting funds, and dealing in foreign exchange. Further, the company operates as a correspondent for approximately 332 financial institutions; offers trust, investment, agency, and custodial services for individual and corporate clients; and provides capital markets services, such as sales and trading, new issue underwriting, money market trading, and securities safekeeping and clearance. It operates approximately 110 financial centers and 1,100 automated-teller machines in Texas. Additionally, the company, through its other subsidiaries, offers insurance brokerage services; brokerage services, as well as sale and purchase of securities; investment advisory and private equity services to middle market companies; and loans to qualified borrowers. It serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. The company was founded in 1868 and is headquartered in San Antonio, Texas.

3,979 Employees
Last Reported Date: 02/6/14
Founded in 1868

cullen/frost bankers inc (CFZ) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $895.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $500.0K
Director, Member of Executive Committee and P...
Total Annual Compensation: $450.0K
President of Frost Bank and Chief Business Ba...
Total Annual Compensation: $450.0K
President of State Regions of Frost Bank
Total Annual Compensation: $400.0K
Compensation as of Fiscal Year 2013.

cullen/frost bankers inc (CFZ) Key Developments

Cullen/Frost Bankers, Inc. Appoints Management Team

Cullen/Frost Bankers Inc. announced that it has closed the merger of Western National Bank into its Frost Bank subsidiary. Effective at the close of business June 20, 2014, the seven WNB locations in Midland and Odessa become offices of Frost Bank and will operate under the Frost name, bringing the number of Frost financial centers statewide to more than 120. Wesley Bownds, president of the Midland market for Western National Bank, is now region president of Frost's newly created Permian Basin region. Jack Wood, president of Western National Bancshares, Inc., will be added to the Cullen/Frost board of directors at its July 2014 meeting.

The Cullen/Frost Bankers, Inc. Declares Second Quarter Common Cash Dividend Payable on June 13, 2014; Declares Quarterly Cash Dividend for Preferred Stock Payable on June 15, 2014

The Cullen/Frost Bankers, Inc. board of directors declared a second quarter cash dividend of $0.51 per common share, an increase from the previous dividend of $0.50 per common share. The dividend is payable June 13, 2014 to shareholders of record on May 30, 2014. The Cullen/Frost Bankers, Inc. board of directors also declared a cash dividend of $0.4479167 per share of the Noncumulative Perpetual Preferred Stock, Series A, which is traded on the NYSE under the symbol 'CFR PrA.' The Series A Preferred Stock dividend is payable on June 15, 2014, to shareholders of record on May 30, 2014.

Cullen/Frost Bankers, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge-Offs for the First Quarter Ended March 31, 2014

Cullen/Frost Bankers, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, net interest income was $160,335,000 compared to $152,813,000 a year ago. Income before income taxes was $73,284,000 compared to $68,779,000 a year ago. Net income available to common shareholders was $59,172,000 or $0.96 per diluted share compared to $55,188,000 or $0.91 per diluted share a year ago. Book value per common share was $39.76 compared to $38.33 a year ago. Return on average assets was 1% compared to 1.01% a year ago. Return on average common equity was 9.97% compared to 9.49% a year ago. Net interest income on a taxable-equivalent basis totaled $187.8 million, an increase of 8.7% over the $172.8 million reported for the first quarter of 2013. The increase was driven primarily by an increase in the average volume of earning assets. For the quarter, the company reported net charge-offs of $3,882 million compared to $16,864 million a year ago.


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Valuation CFZ Industry Range
Price/Earnings 20.6x
Price/Sales 5.3x
Price/Book 2.0x
Price/Cash Flow 19.7x
TEV/Sales NM Not Meaningful

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