Cullen/Frost (CFR) Q2 Earnings Beat Estimate, NII Rises Y/Y

The company reported net income available to its common shareholders of $143.8 million, down from $160.4 million in the prior-year quarter. NII on a taxable-equivalent basis increased 2.2% to $417.6 million year over year. Nonetheless, net interest margin (NIM) expanded 9 basis points (bps) year over year to 3.54%. Our estimates for NII and NIM were $416.6 million and 3.52%, respectively. As of Jun 30, 2024, total loans were $20 billion, up 3.1% sequentially. Total deposits amounted to $40.3 billion, down 1 ...