Cullen/Frost Bankers Q2 Profit Down

(RTTNews) - Cullen/Frost Bankers, Inc. (CFR) Thursday reported second-quarter net income of $93.1 million or $1.47 per share, compared to $109.6 million or $1.72 per share last year.

For the second quarter, net interest income on a taxable-equivalent basis was $269.7 million, down 2.9 percent compared to the same quarter in 2019. Non-interest income for the second quarter was $77.6 million, a decrease of or 6.1 percent from the $82.6 million last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share on revenues of $355.28 million for the quarter.