Cullen/Frost Bankers, Inc. (NYSE: CFR) has announced the election of Hope Andrade to its board of directors, with Andrade set to join the board's audit and risk committees. Phil Green, Chairman and CEO of Cullen/Frost, expressed enthusiasm about Andrade's appointment, stating, "We're fortunate to add someone of Hope's experience and prestige to our board of directors. She is a longtime Texas entrepreneur and leader with a wealth of knowledge about the workings of our state. All of us look forward to having her perspective as we grow and prosper."
Andrade brings a wealth of experience to the board, having served as Texas' first Latina Secretary of State from 2008-2012, as well as holding positions such as commissioner and chair of the Texas Department of Transportation and commissioner representing employers on the Texas Workforce Commission. Additionally, in the private sector, Andrade is a partner with Go Rio San Antonio River Cruises and co-founder and partner of Andrade-Van de Putte & Associates, a bipartisan consulting firm. She has also held leadership positions in various chambers of commerce and serves as an investor and board member with the San Antonio Missions baseball club.
Regarding the company's financial standing, Cullen/Frost Bankers, Inc. reported $50.8 billion in assets as of December 31, 2023, solidifying its position as one of the 50 largest U.S. banks by asset size. The company's shares have experienced a -1.9% movement, currently trading at a price of $107.27.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $1,051 | $1,134 | $1,021 | $1,009 | $1,476 | $2,143 |
| Revenue Growth | n/a | 7.86% | -9.94% | -1.2% | 46.29% | 45.23% |
| Interest Income (MM) | $958 | $1,004 | $976 | $985 | $1,291 | $1,569 |
| Operating Margins | 48% | 44% | 34% | 49% | 45% | 38% |
| Net Margins | 43% | 39% | 32% | 44% | 39% | 32% |
| Net Income (MM) | $455 | $444 | $331 | $443 | $579 | $687 |
| Depreciation & Amort. (MM) | $50 | $54 | $64 | $69 | $71 | $74 |
| Earnings Per Share | $6.9 | $6.84 | $5.1 | $6.76 | $8.81 | $10.46 |
| EPS Growth | n/a | -0.87% | -25.44% | 32.55% | 30.33% | 18.73% |
| Diluted Shares (MM) | 65 | 63 | 63 | 64 | 65 | 64 |
| Free Cash Flow (MM) | $483 | $427 | $429 | $582 | $620 | $580 |
| Capital Expenditures (MM) | $79 | $207 | $95 | $66 | $103 | $165 |
