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EX - 99.1 2 a2q21 formxex991xpressrelea.htm EX - 99.1 2021 SECOND QUARTER EARNINGS RELEASE FOR IMMEDIATE RELEASE July 29 , 2021 A.B. Mendez Investor Relations 210.220.5234 or Bill Day Media Relations 210.220.5427 CULLEN / FROST REPORTS SECOND QUARTER RESULTS Board increases quarterly common dividend by 4 percent to $ 0.75 Exhibit 99.1 SAN ANTONIO -- Cullen / Frost Bankers , Inc. ( NYSE : CFR ) today reported second quarter 2021 results . Net income available to common shareholders for the second quarter of 2021 was $ 116.4 million , compared to $ 93.1 million in the second quarter of 2020. On a per - share basis , net income available to common shareholders for the second quarter of 2021 was $ 1.80 per diluted common share , compared to $ 1.47 per diluted common share reported a year earlier . Returns on average assets and average common equity were 1.02 percent and 11.18 percent , respectively , for the second quarter of 2021 compared to 0.99 percent and 9.60 percent , respectively , for the same period a year earlier . For the second quarter of 2021 , net interest income on a taxable - equivalent basis was $ 280.0 million , up 3.8 percent , compared to the same quarter in 2020. Average loans for the second quarter of 2021 decreased $ 303.2 million , or 1.7 percent , to $ 17.2 billion , from the $ 17.5 billion reported for the second quarter a year earlier . Excluding PPP loans , second quarter average loans of $ 14.6 billion represented a 3.0 percent decrease compared to the second quarter of 2020. Average deposits for the quarter were $ 38.3 billion , up $ 7.0 billion , or 22.2 percent , compared to the $ 31.3 billion reported for last year's second quarter .