Cullen/Frost Bankers Inc. of San Antonio said Wednesday that its second-quarter earnings fell 2% from a year earlier, to $52.5 million.
But its earnings per share of 89 cents matched the average estimate of analysts polled by Thomson Reuters.
The loan-loss provision more than doubled from the year earlier, to $6.3 million, as chargeoffs increased 60%, to $4.3 million. However, its ratio of nonperforming assets to total assets fell two basis points from the year earlier, though rose 9 basis points from the previous quarter, to 0.36%.
Dick Evans, Cullen/Frost's chairman and chief executive, said in a press release that loan growth was "solid" at the $13.7 billion-asset company. Loans were up 9% from a year earlier, to $8.2 billion.
"The Texas economy remains resilient, though not immune to the currents affecting the national economy," Mr. Evans said.
