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Frost Bank

CFR NYSE Regional Banks Financials FY2016–FY2025

Frost Bank's revenue rose 8.3% to $2.2 billion in fiscal 2025. Net income was $649 million, up 11.3%. Its return on equity was 15.3%, about the same as 15.3% a year earlier. Its efficiency ratio was 63.5%, up from 63.1% a year earlier. It paid out $413 million in dividends and buybacks. The diluted share count fell 0.2%.

Last close · Oct 23, 2026

$157.05

0.4%
Value it Compare
Revenue Total sales reported in the income statement.
$2.2B
8.3% vs prior year
Efficiency ratio Noninterest expense as a share of revenue. Lower is better for banks.
63.5%
0.4 pts
Net income Profit after all expenses, interest and tax.
$649M
11.3%
Return on equity Net income as a share of average shareholders' equity.
15.3%
0.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
14.8x
On $10.58 EPS (TTM)

What Frost Bank does

No business description yet.

Legal name
Cullen/Frost Bankers, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000039263-26-000011
0000039263

Revenue and margins

Frost Bank had $2.2B of revenue in fiscal 2025, up 8.3% on the year before.

Revenue
Revenue
Net interest income share and efficiency ratio
Net interest share Efficiency ratio
Net interest income share and efficiency ratio
Net interest share Efficiency ratio

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 8.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns and efficiency

For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.

Return on equity, return on tangible equity and efficiency ratio
ROE ROTE Efficiency ratio

Dividends, buybacks and share count

Frost Bank returned $413M to shareholders in fiscal 2025. The diluted share count fell 0.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Frost Bank yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Earnings multiple

Value per share

—

Reference multiples: today 14.8x · peers 12.1x · sector 13.7x.

Balance sheet

Loans, deposits and capital at each fiscal year end.

Loans and deposits
Loans Deposits
Fiscal year endFY21FY22FY23FY24FY25
Loans, net $16.1B$16.9B$18.6B$20.5B$21.6B
Deposits $42.7B$44.0B$41.9B$42.7B$42.9B
Loans / deposits 37.7%38.5%44.3%48.0%50.4%
Total assets $50.9B$52.9B$50.8B$52.5B$53.0B
Shareholders' equity $4.4B$3.1B$3.7B$3.9B$4.6B
Goodwill $655M$655M—$0.0M$0.0M
Intangible assets $0.0M$0.0M$0.0M$0.0M$0.0M
Provision / loans 0.0%0.0%0.3%0.3%0.2%

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.4M

4 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 12, 2026 Carol Jean SeverynGEVP and Chief Risk Officer Sold 837 $148.29 $0.1M Form 4
Jan 30, 2026 Bobby BermanGEVP Research & Strategy Sold 1,000 $137.07 $0.1M Form 4
Dec 12, 2025 Ericka Lynn PullinGevp, Culture & People Dev. Sold 0 $129.73 $0.0M Form 4
Dec 9, 2025 Coolidge E Rhodes JRGroup EVP General Counsel/Sec Sold 700 $127.00 $0.1M Form 4

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Frost Bank CFR $10.1B 8.3% — — — 14.8x —
Columbia Banking System COLB $7.4B 19.3% — — — 12.1x — Compare →
Flagstar Bank FLG $4.3B −19.2% — — — — — Compare →
Pinnacle Financial Partners PNFP $7.8B 18.3% — — — 24.9x — Compare →
Valley Bank VLY $7.9B 9.3% — — — 11.9x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.1B $1.2B $1.3B $1.4B $1.4B $1.4B $1.7B $2.0B $2.1B $2.2B
Net interest income $776M $866M $958M $1.0B $976M $985M $1.3B $1.6B $1.6B $1.7B
Noninterest income $350M $337M $351M $364M $466M $387M $405M $429M $459M $499M
Noninterest expense $733M $759M $779M $835M $849M $882M $1.0B $1.2B $1.3B $1.4B
Provision for credit losses — — $21.7M $33.8M $241M $0.1M $3.0M $46.2M $65.0M $44.2M
Pretax income $341M $408M $509M $500M $351M $490M $669M $712M $696M $772M
Income tax $37.1M $44.2M $53.8M $55.9M $20.2M $46.5M $89.7M $114M $113M $123M
Net income $304M $364M $455M $444M $331M $443M $579M $598M $583M $649M
Net income to common $296M $356M $447M $436M $324M $436M $573M $591M $576M $642M
Diluted EPS $4.70 $5.51 $6.90 $6.84 $5.10 $6.76 $8.81 $9.10 $8.87 $9.92
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B
Cash flow
Stock-based compensation $11.8M $13.0M $13.9M $15.9M $13.9M $12.8M $18.3M $24.6M $19.8M $24.8M
Share buybacks $1.3M $102M $101M $68.8M $15.8M $3.9M $4.4M $42.7M $60.9M $158M
Dividends paid $135M $144M $165M $177M $181M $189M $210M $232M $242M $255M
Dividends and buybacks $136M $246M $266M $246M $196M $193M $214M $275M $303M $413M
Balance sheet
Loans, net $11.8B $13.0B $14.0B $14.6B $17.2B $16.1B $16.9B $18.6B $20.5B $21.6B
Deposits $25.8B $26.9B $27.1B $27.6B $35.0B $42.7B $44.0B $41.9B $42.7B $42.9B
Goodwill $655M $655M $655M $655M $655M $655M $655M — $0.0M $0.0M
Intangible assets $6.8M $5.1M $3.6M $2.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $30.2B $31.7B $32.3B $34.0B $42.4B $50.9B $52.9B $50.8B $52.5B $53.0B
Preferred stock $145M $145M $145M $145M $146M $146M $146M $146M $146M $146M
Shareholders' equity $3.0B $3.3B $3.4B $3.9B $4.3B $4.4B $3.1B $3.7B $3.9B $4.6B
Margins
Net margin 27.0% 30.3% 34.8% 32.4% 23.0% 32.3% 34.2% 30.1% 28.2% 29.0%
Net interest share of revenue 68.9% 72.0% 73.2% 73.4% 67.7% 71.8% 76.1% 78.4% 77.8% 77.7%
Efficiency ratio 65.1% 63.1% 59.5% 61.0% 58.9% 64.3% 60.4% 61.8% 63.1% 63.5%
Returns
Return on equity 10.3% 11.6% 13.7% 12.2% 8.1% 10.2% 15.3% 17.5% 15.3% 15.3%
Return on assets 1.0% 1.2% 1.4% 1.3% 0.9% 1.0% 1.1% 1.2% 1.1% 1.2%
Return on tangible equity 13.9% 15.2% 17.7% 15.4% 9.8% 12.2% 19.2% — — 15.7%
Growth
Revenue growth 5.7% 6.8% 8.8% 4.5% 5.4% −4.9% 23.7% 17.2% 3.9% 8.3%
Net income growth 8.9% 19.7% 24.9% −2.5% −25.4% 33.8% 30.7% 3.3% −2.6% 11.3%
EPS growth 9.8% 17.2% 25.2% −0.9% −25.4% 32.6% 30.3% 3.3% −2.5% 11.8%
Share count change −0.8% 2.7% 0.0% −1.9% −0.7% 1.7% 0.7% −0.2% −0.2% −0.3%
Financial health
Loans / deposits 45.8% 48.3% 51.5% 52.9% 49.2% 37.7% 38.5% 44.3% 48.0% 50.4%
Provision / loans — — 0.2% 0.2% 1.5% 0.0% 0.0% 0.3% 0.3% 0.2%
Capital allocation
Stock comp / revenue 1.1% 1.1% 1.1% 1.2% 1.0% 0.9% 1.1% 1.2% 1.0% 1.1%

Source: SEC EDGAR XBRL filings (CIK 0000039263). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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