Cullen/Frost Bankers, Inc. (NYSE:CFR) filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the SEC on October 29, 2026, reporting third-quarter net income of $180.2 million and total assets of $54.5 billion.

Key Highlights

  • Net income of $180,209 thousand for the three months ended September 30, 2026, up from $174,380 thousand in the same quarter of 2025, according to the filing.
  • Net interest income of $467,867 thousand for Q3 2026, compared with $441,618 thousand for Q3 2025, as reported in the consolidated statements of income.
  • Total loans, net of unearned discounts, reached $23,656,967 thousand at September 30, 2026, up from $21,891,812 thousand at December 31, 2025.
  • Total assets were $54,515,513 thousand at September 30, 2026, versus $53,041,424 thousand at December 31, 2025.
  • Diluted earnings per common share were $2.84 for Q3 2026, compared with $2.67 for Q3 2025.
  • Comprehensive loss of $572,324 thousand for Q3 2026, driven by a $752,533 thousand other comprehensive loss net of tax, primarily from a change in net unrealized loss on securities available for sale.
  • Treasury stock increased to 2,348,497 shares at September 30, 2026, from 1,117,394 shares at December 31, 2025.

Cullen/Frost Q3 2026 Financial Results: Income Growth Amid Unrealized Securities Losses

According to the Form 10-Q filed by Cullen/Frost Bankers, Inc. (NYSE:CFR) for the quarterly period ended September 30, 2026, the company reported net income of $180,209 thousand for the third quarter of 2026, compared with $174,380 thousand for the third quarter of 2025. For the nine months ended September 30, 2026, the filing reported net income of $523,255 thousand, up from $482,305 thousand in the comparable prior-year period. Basic and diluted earnings per common share were each $2.84 for Q3 2026 and $8.19 for the nine-month period, compared with $2.67 and $7.36, respectively, in the prior-year periods.

The filing disclosed net interest income of $467,867 thousand for Q3 2026 and $1,354,117 thousand for the nine months ended September 30, 2026, with total interest income of $631,778 thousand for the quarter. Total non-interest income for the quarter was $135,962 thousand, which included a net loss on securities transactions of $7,512 thousand. Total non-interest expense for the quarter was $377,200 thousand, with salaries and wages representing the largest component at $182,183 thousand. Credit loss expense was $12,090 thousand for the three months and $28,602 thousand for the nine months ended September 30, 2026.

On the balance sheet, total deposits reached $44,222,371 thousand at September 30, 2026, compared with $42,917,864 thousand at December 31, 2025. The allowance for credit losses on loans stood at $290,258 thousand. Accumulated other comprehensive loss, net of tax, widened to $(1,604,193) thousand at September 30, 2026, from $(842,951) thousand at December 31, 2025, reflecting a change in net unrealized loss on securities available for sale of $(960,293) thousand before tax during the quarter. As of October 27, 2026, the filing reported 62,180,525 shares of common stock outstanding.

What Was Disclosed

Cullen/Frost Bankers filed its Form 10-Q for Q3 2026, disclosing quarterly net income of $180,209 thousand, total assets of $54,515,513 thousand, and a comprehensive loss of $572,324 thousand driven by unrealized losses on available-for-sale securities.